Document:

Securities Purchase Agreement

 Exhibit 10.1 
 SECURITIES PURCHASE AGREEMENT 
 THIS SECURITIES PURCHASE AGREEMENT (this
“Agreement”) is made effective as of May 29, 2009, by and among Active Power, Inc. (the “Company”), a corporation organized under the laws of the State of Delaware, with its principal offices at 2128 W. Braker
Lane, BK12, Austin, Texas 78758, and the purchasers whose names and addresses are set forth on the signature pages hereof (each a “Purchaser” and collectively the “Purchasers”). 
 IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged and agreed by the parties hereto, the Company and each of the Purchasers, intending to be legally bound, agree as follows: 
 SECTION 1. Authorization of Sale of the Shares. Subject to the terms and conditions of this Agreement, the Company has authorized the issuance and sale of up to 6,000,000 shares (the “Shares”) of common stock,
par value $0.001 per share (the “Common Stock”), of the Company. 
 SECTION 2. Agreement to Sell and Purchase the
Shares. At the Closing (as defined in Section 3), the Company will, subject to the terms and conditions of this Agreement, issue and sell to the Purchasers and the Purchasers will buy from the Company, upon the terms and conditions
hereinafter set forth, the number of Shares at the purchase price per share and aggregate purchase prices set forth on the signature pages hereto. The obligation of each Purchaser to buy Shares shall be a several, and not joint, obligation.

 SECTION 3. Delivery of the Shares at the Closing. The completion of the purchase and sale of the Shares (the
“Closing”) shall occur at the offices of Wilson Sonsini Goodrich & Rosati, Professional Corporation, 900 South Capital of Texas Highway, Las Cimas IV, Fifth Floor, Austin, TX 78746-5546, within three
(3) business days following the effective date of the Agreement, or on such later date or at such different location as the parties shall agree in writing, but not prior to the date that the conditions for Closing set forth below have been
satisfied or waived by the appropriate party (the “Closing Date”). 
 At the Closing, each Purchaser shall deliver, in
immediately available funds, the full amount of the purchase price for the Shares being purchased by such Purchaser hereunder by wire transfer to an account designated by the Company and the Company shall deliver to each Purchaser one or more stock
certificates registered in the name of such Purchaser, or in such nominee name(s) as designated by such Purchaser in writing, representing the number of Shares set forth on such Purchaser’s signature page hereto and bearing an appropriate
legend referring to the fact that the Shares were sold in reliance upon the exemption from registration under the Securities Act of 1933, as amended (the “Securities Act”), provided by Section 4(2) thereof and Rule 506
thereunder. The name(s) in which the stock certificates are to be registered are set forth in the Stock Certificate Questionnaire attached hereto as part of Appendix I. 

 The Company’s obligation to complete the purchase and sale of the Shares and deliver such stock
certificate(s) to the Purchaser at the Closing shall be subject to the following conditions, any one or more of which may be waived by the Company: (x) receipt by the Company of same-day funds in the full amount of the purchase price for the
Shares being purchased hereunder; (y) completion of the purchases and sales under the Agreement with all Purchasers; and (z) the accuracy in all material respects of the representations and warranties made by the Purchasers and the
fulfillment of those undertakings of the Purchasers to be fulfilled prior to the Closing. Each Purchaser’s obligation to accept delivery of such stock certificate(s) and to pay for the Shares evidenced thereby shall be subject to the following
conditions, any one or more of which may be waived by such Purchaser: (a) each of the representations and warranties of the Company in this Agreement (disregarding, for this purpose, all exceptions in those representations and warranties
relating to materiality, Material Adverse Effect (as defined below) or any similar standard or qualification) shall be true and correct on and as of the date of this Agreement and as of the Closing Date (except to the extent expressly made as of a
specified date, in which case as of such date), except where such failure to be so true and correct on the date hereof and on the Closing Date has not had or is not reasonably likely to have, individually or in the aggregate, a Material Adverse
Effect; (b) the delivery to the Purchaser by counsel to the Company of a legal opinion in the form of Exhibit A hereto; (c) receipt by the Purchaser of a certificate executed by the chief executive officer and the chief financial or
accounting officer of the Company, dated as of the Closing Date, to the effect of (a) above, and to the effect that the Company has complied in all material respects with the Agreement and satisfied all the conditions herein on its part to be
performed or satisfied on or prior to such Closing Date; and (d) the fulfillment in all material respects of those undertakings of the Company to be fulfilled prior to the Closing. Each Purchaser’s obligations hereunder are expressly not
conditioned on the purchase by any or all of the other Purchasers of the Shares that they have agreed to purchase from the Company. For the purposes of this Agreement the term “Material Adverse Effect” shall mean a material adverse
effect on the condition, properties, business or results of operations of the Company and its Subsidiaries, taken as a whole; provided, however, in no event shall any of the following be taken into account in determining whether there has
been or will be a Material Adverse Effect: (A) any effect resulting from changes or effects in general worldwide or U.S. economic, capital market or political conditions, which changes or effects do not disproportionately affect the Company,
(B) any effect resulting from changes or effects generally affecting the industries or markets in which the Company operates, which changes or effects do not disproportionately affect the Company, (C) any effect resulting from any act of
war or terrorism (or, in each case, any escalation thereof), which changes or effects do not disproportionately affect the Company, (D) any changes in applicable laws or regulations or accounting principles, (E) any change in and of itself
in the trading price or trading volume of the Company’s Common Stock, or (F) any failure, in and of itself, of the Company to meet any projections or forecasts or revenue or earnings predictions. 
 SECTION 4. Representations, Warranties and Covenants of the Company. The Company hereby represents and warrants to, and covenants with, the
Purchasers, as of the date of this Agreement (except to the extent expressly made as of a specified date, in which case as of such date), as follows: 
 4.1 Organization and Qualification. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of its jurisdiction of incorporation, and the 

 
Company is qualified to do business as a foreign corporation in each jurisdiction in which qualification is required, except where failure to so qualify
would not have a Material Adverse Effect. Each of the Company’s subsidiaries (each a “Subsidiary” and collectively the “Subsidiaries”) is duly organized, validly existing and in good standing under the laws of
its jurisdiction of incorporation and is qualified to do business as a foreign corporation in each jurisdiction in which qualification is required, except where failure to so qualify would not have a Material Adverse Effect. 
 4.2 Reporting Company; Form S-3. As of the date of this Agreement, the Company is not an “ineligible issuer” (as defined in
Rule 405 promulgated under the Securities Act) and is eligible to register the Shares for resale by the Purchaser on a registration statement on Form S-3 under the Securities Act. The Company is subject to the reporting requirements of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and has filed all reports required thereby. To the Company’s knowledge, there exist no facts or circumstances (including without limitation any required
approvals or waivers or any circumstances that may delay or prevent the obtaining of accountant’s consents) that reasonably could be expected to prohibit or delay the preparation and filing of a registration statement on Form S-3 (or a
prospectus supplement to an effective shelf registration statement) under the Securities Act registering the Shares for public resale as contemplated in Section 7.1 (the “Registration Statement”) beyond the time for such
Registration Statement to be filed and to become effective, as specified therein. 
 4.3 Authorized Capital Stock. The authorized
capital stock of the Company consists of (a) 150,000,000 shares of Common Stock, of which 60,458,311 shares were issued and outstanding as of the close of business on May 28, 2009, and (b) 10,000,000 shares of preferred stock, par
value $0.001 per share, of which no shares were issued and outstanding as of May 28, 2009. The issued and outstanding shares of Common Stock have been duly authorized and validly issued, are fully paid and nonassessable, have been issued in
compliance with all federal and state securities laws, and were not issued in violation of or subject to any preemptive rights or other rights to subscribe for or purchase securities. Except as set forth in the Commission Documents (as defined in
Section 4.12), the Company does not have outstanding any options to purchase, or any preemptive rights or other rights to subscribe for or to purchase, any securities or obligations convertible into, or any contracts or commitments to issue or
sell, shares of its capital stock or any such options, rights, convertible securities or obligations. With respect to each of the Subsidiaries, except where failure of the following representation would not have a Material Adverse Effect
(i) all the issued and outstanding shares of such Subsidiary’s capital stock have been duly authorized and validly issued, are fully paid and nonassessable, have been issued in compliance with all federal and state securities laws, were
not issued in violation of or subject to any preemptive rights or other rights to subscribe for or purchase securities, and (ii) except as set forth in or contemplated by the Commission Documents, there are no outstanding options to purchase,
or any preemptive rights or other rights to subscribe for or to purchase, any securities or obligations convertible into, or any contracts or commitments to issue or sell, shares of such Subsidiary’s capital stock or any such options, rights,
convertible securities or obligations. 
 4.4 Issuance, Sale and Delivery of the Shares. The Shares have been duly authorized and,
when issued, delivered and paid for in the manner set forth in this Agreement, will be validly issued, fully paid and nonassessable. No preemptive rights or other rights to subscribe for or 

 
purchase any shares of Common Stock of the Company exist with respect to the issuance and sale of the Shares by the Company pursuant to this Agreement. No
stockholder of the Company has any right (which has not been waived or has not expired by reason of lapse of time following notification of the Company’s intention to file the Registration Statement) to require the Company to register the sale
of any capital stock owned by such stockholder under the Registration Statement. No further approval or authority of the stockholders or the Board of Directors of the Company will be required for the issuance and sale of the Shares to be sold by the
Company as contemplated herein. 
 4.5 Due Execution, Delivery and Performance of the Agreement. The Company has full legal right,
corporate power and authority to enter into this Agreement and perform the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company. This Agreement constitutes a legal, valid and binding
agreement of the Company, enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws and judicial decisions of general
application relating to or affecting the enforcement of creditors’ rights and the application of equitable principles relating to the availability of remedies, and except as rights to indemnity or contribution, including but not limited to,
indemnification provisions set forth in Section 7.3 of this Agreement may be limited by federal or state securities law or the public policy underlying such laws. The execution and performance of this Agreement by the Company and the
consummation of the transactions herein contemplated will not violate any provision of the certificate of incorporation or bylaws of the Company or the organizational documents of any Subsidiary. No consent, approval, authorization or other order of
any court, regulatory body, administrative agency or other governmental agency or body is required for the execution and delivery of this Agreement by the Company or the consummation by the Company of the transactions contemplated by this Agreement,
except for compliance with the Blue Sky laws applicable to the offering of the Shares. 
 4.6 No Defaults or Consents. Except as would
not cause a Material Adverse Effect, individually or in the aggregate, neither the execution, delivery and performance of this Agreement by the Company nor the consummation of any of the transactions contemplated hereby (including, without
limitation, the issuance and sale by the Company of the Shares) will give rise to a right to terminate or accelerate the due date of any payment due under, or conflict with or result in the breach of any term or provision of, or constitute a default
(or an event that with notice or lapse of time or both would constitute a default) under, or require any consent or waiver under, or result in the execution or imposition of any lien, charge or encumbrance upon any properties or assets of the
Company or its Subsidiaries pursuant to the terms of, any indenture, mortgage, deed of trust or other agreement or instrument to which the Company or any of its Subsidiaries is a party or by which either the Company or its Subsidiaries or any of its
or their properties or businesses is bound, or any franchise, lease, license, permit, judgment, decree, order, statute, rule or regulation of any court or any regulatory body, administrative agency or other governmental agency or body applicable to
the Company or any Subsidiary or any of their respective assets or properties, except for such consents or waivers that have already been obtained and are in full force and effect. 
 4.7 No Material Adverse Change. Except as disclosed in the Commission Documents, since December 31, 2008 (i) the Company and its
Subsidiaries have not paid or declared any dividends or other distributions with respect to their capital stock and none of the Company or 

 
any Subsidiary is in default in the payment of principal or interest on any material outstanding debt obligations; (ii) there has not been any change in
the capital stock of the Company or its Subsidiaries other than the sale of the Shares hereunder and shares or options issued pursuant to employee equity incentive plans or purchase plans approved by the Company’s Board of Directors, or
indebtedness material to the Company or its Subsidiaries (other than in the ordinary course of business and any required scheduled payments); and (iii) there has not occurred any event that has caused or could reasonably be expected to cause a
Material Adverse Effect. 
 4.8 Compliance. The Company and its Subsidiaries conduct their business in compliance with all applicable
laws, rules and regulations of the jurisdictions in which each is conducting business, including, without limitation, all applicable local, state and federal environmental laws and regulations, except where failure to be so in compliance would not
have a Material Adverse Effect. 
 4.9 Taxes. The Company and each Subsidiary have filed all required federal, state and foreign
income and franchise tax returns and have paid or accrued all taxes shown as due thereon, and none of the Company or any Subsidiary has knowledge of a tax deficiency that has been or might be asserted or threatened against it that could have a
Material Adverse Effect. 
 4.10 Transfer Taxes. On the Closing Date, all stock transfer or other taxes (other than income taxes) that
are required to be paid in connection with the sale and transfer of the Shares to be sold to the Purchaser hereunder will have been fully paid or provided for by the Company. 
 4.11 Investment Company. The Company is not an “investment company” or an “affiliated person” of, or “promoter” or
“principal underwriter” for an investment company, within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Securities and Exchange Commission (the “Commission”)
promulgated thereunder. 
 4.12 Additional Information. As of their respective filing dates, none of the Commission Documents
contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances in which they were made not misleading. As of the date
hereof, the Company’s Annual Report for the fiscal year ended December 31, 2007, together with all other documents filed by the Company with the Commission since January 1, 2008, do not contain an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein in light of the circumstances in which they were made not misleading. The documents incorporated by reference in the Commission Documents or
attached as exhibits thereto, at the time they became effective or were filed with the Commission, as the case may be, complied in all material respects with the requirements of the Exchange Act, as applicable, and the rules and regulations of the
Commission thereunder. In the past twelve (12) calendar months, the Company has filed all documents required to be filed by it prior to the date hereof with the Commission pursuant to the reporting requirements of the Exchange Act. All
materials filed or furnished by the Company with the Commission under the Exchange Act or the Securities Act for the twelve (12) calendar months preceding the date hereof and all amendments thereto, exhibits included therein, financial
statements and schedules thereto and documents incorporated by reference therein, are referred to as the “Commission Documents.” 

 4.13 Price of Common Stock. The Company has not taken, directly or indirectly, any action designed
to cause or result in, or that has constituted or that might reasonably be expected to constitute, the stabilization or manipulation of the price of the shares of the Common Stock to facilitate the sale or resale of the Shares. 
 4.14 Listing Compliance. Except as set forth in the Commission Documents, the Company is in compliance with the requirements of the Nasdaq Global
Market for continued listing of the Common Stock thereon. The Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act or the listing of the Common Stock on the
Nasdaq Global Market, nor has the Company received any notification that the Commission or the Nasdaq Global Market is contemplating terminating such registration or listing. The transactions contemplated by this Agreement will not contravene the
rules and regulations of the Nasdaq Global Market. The Company will comply with all requirements of the Nasdaq Global Market with respect to the issuance of the Shares and shall cause the Shares to be listed on the Nasdaq Global Market and listed on
any other exchange on which the Company’s Common Stock is listed on or before the Closing Date. 
 4.15 Integration; Other Issuances
of Shares. Neither the Company nor the Subsidiaries or any affiliates, nor any person or entity acting on its or their behalf, has issued any shares of Common Stock or shares of any series of preferred stock or other securities or instruments
convertible into, exchangeable for or otherwise entitling the holder thereof to acquire shares of Common Stock that would be integrated with the sale of the Shares to such Purchaser for purposes of the Securities Act or of any applicable stockholder
approval provisions, including, without limitation, under the rules and regulations of any exchange or automated quotation system on which any of the securities of the Company are listed or designated, nor will the Company or the Subsidiaries or
affiliates take any action or steps that would require registration of any of the Shares under the Securities Act or cause the offering of the Shares to be integrated with other offerings. Assuming the accuracy of the representations and warranties
of Purchasers set forth in this Agreement, the offer and sale of the Shares by the Company to the Purchasers pursuant to the Agreement will be exempt from the registration requirements of the Securities Act. 
 SECTION 5. Representations, Warranties and Covenants of the Purchaser. Each Purchaser represents and warrants to, and covenants with, the
Company, as of the date of this Agreement (except to the extent expressly made as of a specified date, in which case as of such date), that: 
 5.1 Experience. (i) The Purchaser is knowledgeable, sophisticated and experienced in financial and business matters, in making, and is qualified to make, decisions with respect to investments in shares representing an investment
decision like that involved in the purchase of the Shares, including investments in securities issued by the Company and comparable entities, has the ability to bear the economic risks of an investment in the Shares and has requested, received,
reviewed and considered all information it deems relevant in making an informed decision to purchase the Shares; (ii) the Purchaser is acquiring the number of Shares set forth on the signature page hereto in the ordinary course of its business
and for its own account and with no present intention of distributing any of such Shares or any arrangement or understanding with any other persons regarding the distribution of such Shares (this representation and warranty not limiting the
Purchaser’s right to sell pursuant to the Registration Statement or in compliance with the Securities 

 
Act and the rules and regulations promulgated thereunder (the “1933 Act Rules and Regulations”), or, other than with respect to any claims
arising out of a breach of this representation and warranty, the Purchaser’s right to indemnification under Section 7.3); (iii) the Purchaser will comply with the prospectus delivery requirements of the Securities Act as applicable to
it in connection with sales of the Shares pursuant to the Registration Statement or with the applicable requirements of any exemption from the Securities Act; (iv) the Purchaser has completed or caused to be completed the Registration Statement
Questionnaire in the form attached hereto as part of Appendix I or another form reasonably acceptable to the Company, for use in preparation of the Registration Statement, and the answers thereto are true and correct as of the date hereof and
will be true and correct as of the effective date of the Registration Statement and the Purchaser will notify the Company immediately of any material change in any such information provided in the Registration Statement Questionnaire until such time
as the Purchaser has sold all of its Shares or until the Company is no longer required to keep the Registration Statement effective; (v) the Purchaser has, in connection with its decision to purchase the number of Shares set forth on the
signature page hereto, relied solely upon the representations and warranties of the Company contained herein; (vi) the Purchaser has had an opportunity to discuss this investment with representatives of the Company and ask questions of and
receive answers from the representatives; and (vii) the Purchaser is an “accredited investor” within the meaning of Rule 501(a) of Regulation D promulgated under the Securities Act. 
 5.2 Reliance on Exemptions. The Purchaser understands that the Shares are being offered and sold to it in reliance upon specific exemptions from
the registration requirements of the Securities Act, the 1933 Act Rules and Regulations and state securities laws and that the Company is relying upon the truth and accuracy of, and the Purchaser’s compliance with, the representations,
warranties, agreements, acknowledgments and understandings of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire the Shares. 
 5.3 Confidentiality. The Purchaser agrees that it is prohibited from reproducing or distributing this Agreement or any other offering materials or
other information provided by the Company in connection with the Purchaser’s consideration of its investment in the Company, in whole or in part, or divulging or discussing any of their contents, except to its financial, investment or legal
advisors in connection with its proposed investment in the Shares. Further, the Purchaser understands that the existence and nature of all conversations and presentations, if any, regarding the Company and this offering must be kept strictly
confidential. The Purchaser understands that the federal securities laws impose restrictions on trading based on information regarding this offering. The Purchaser further acknowledges that (i) the Purchaser has received material, non-public
information about the Company in connection with this offering, (ii) the United States securities laws prohibit any person who has received such information from purchasing or selling securities of the subject issuer or from communicating such
information to any other person under circumstances in which it is reasonably foreseeable that such person may purchase or sell such securities, and (iii) the Purchaser shall not directly or indirectly, offer, sell, assign, transfer, pledge,
contract to sell or otherwise dispose of any Common Stock or other securities of the Company while in possession of such material, non-public information. In addition, the Purchaser hereby acknowledges that unauthorized disclosure of information
regarding this offering may result in a violation of Regulation FD. The Purchaser’s confidentiality obligation hereunder will terminate upon the issuance by the Company of a press release or press releases announcing the offering contemplated

 
hereby as provided in Section 20. The foregoing agreements shall not apply to any information that is or becomes publicly available through no fault of
the Purchaser, or that the Purchaser is legally required to disclose; provided, however, that if the Purchaser is requested or ordered to disclose any such information pursuant to any court or other government order or any other
applicable legal or regulatory procedure, it shall provide the Company with prompt notice of any such request or order in time sufficient to enable the Company to seek an appropriate protective order. 
 5.4 Investment Decision. The Purchaser understands that nothing in the Agreement or any other materials presented to the Purchaser in connection
with the purchase and sale of the Shares constitutes legal, tax or investment advice. The Purchaser has consulted such legal, tax and investment advisors as it, in its sole discretion, has deemed necessary or appropriate in connection with its
purchase of the Shares. 
 5.5 Risk of Loss. The Purchaser understands that its investment in the Shares involves a significant degree
of risk, including a risk of total loss of the Purchaser’s investment, and the Purchaser has full cognizance of and understands all of the risk factors related to the Purchaser’s purchase of the Shares. The Purchaser understands that the
market price of the Common Stock has been volatile and that no representation is being made as to the future value of the Common Stock. 
 5.6 Legend; Legend Removal; Damages. The Purchaser understands that, until such time as the Registration Statement has been declared effective or the Shares may be sold pursuant to Rule 144 under the Securities Act without any
restriction as to the number of securities as of a particular date that can then be immediately sold, the Shares will bear a restrictive legend in substantially the following form: 
 “THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. THE SHARES MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (1) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OR (2) PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE STATE SECURITIES LAWS AND THE SECURITIES LAWS OF OTHER JURISDICTIONS, AND IN THE CASE OF A TRANSACTION EXEMPT FROM REGISTRATION, UNLESS
THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT AND SUCH OTHER APPLICABLE LAWS.” 
 The Company acknowledges and agrees that the Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a registered
broker-dealer or grant a security interest in some or all of the Shares to a financial institution that is an “accredited investor” as defined in Rule 501(a) under the Securities Act and who agrees to be bound by the provisions of this
Agreement and, if required under the terms of such arrangement, the Purchaser may transfer pledged or secured Shares to the pledgees or secured parties. Such a pledge or transfer would not be subject 

 
to approval of the Company and no legal opinion of legal counsel of the pledgee, secured party or pledgor shall be required in connection therewith. Further,
no notice shall be required of such pledge. At the Purchaser’s expense, the Company will execute and deliver such reasonable documentation as a pledgee or secured party of the Shares may reasonably request in connection with a pledge or
transfer of the Shares, including, if appropriate, the preparation and filing of any required prospectus supplement under Rule 424(b)(3) under the Securities Act or other applicable provision of the Securities Act to appropriately amend the list of
selling stockholders thereunder. 
 5.7 Residency. The Purchaser’s principal executive offices are in the jurisdiction set forth
immediately below the Purchaser’s name on the signature pages hereto. 
 5.8 Public Sale or Distribution. The Purchaser hereby
covenants with the Company not to make any sale of the Shares under the Registration Statement without complying with the provisions of this Agreement and without effectively causing the prospectus delivery requirement under the Securities Act to be
satisfied (whether physically or through compliance with Rule 172 under the Securities Act or any similar rule). The Purchaser acknowledges that there may occasionally be times when the Company must suspend the use of the prospectus forming a
part of the Registration Statement until such time as an amendment to the Registration Statement has been filed by the Company and declared effective by the Commission, or until such time as the Company has filed an appropriate report with the
Commission pursuant to the Exchange Act. Without the Company’s prior written consent, which consent shall not unreasonably be withheld or delayed, the Purchaser shall not use any written materials to offer the Shares for resale other than the
Prospectus (as defined in Section 7.2), including any “free writing prospectus” as defined in Rule 405 under the Securities Act. The Purchaser further covenants to notify the Company promptly of the sale of all of its Shares.

 5.9 Authorization; Validity; Enforcement. The Purchaser has full right, power, authority and capacity to enter into this Agreement
and to consummate the transactions contemplated hereby and has taken all necessary action to authorize the execution, delivery and performance of this Agreement. The making and performance of this Agreement by the Purchaser and the consummation of
the transactions herein contemplated will not violate any provision of the organizational documents of the Purchaser or conflict with, result in the breach or violation of, or constitute, either by itself or upon notice or the passage of time or
both, a default under any material agreement, mortgage, deed of trust, lease, franchise, license, indenture, permit or other instrument to which the Purchaser is a party or, any statute or any authorization, judgment, decree, order, rule or
regulation of any court or any regulatory body, administrative agency or other governmental agency or body applicable to the Purchaser. No consent, approval, authorization or other order of any court, regulatory body, administrative agency or other
governmental agency or body is required on the part of the Purchaser for the execution and delivery of this Agreement or the consummation of the transactions contemplated by this Agreement. Upon the execution and delivery of this Agreement, this
Agreement shall constitute a legal, valid and binding obligation of the Purchaser, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws
of general application relating to or the enforcement of creditor’s rights and the application of equitable principles relating to the availability of remedies, and except as rights to indemnity or contribution, including, but not limited to,
the indemnification provisions set forth in Section 7.3 of this Agreement, may be limited by federal or 

 
state securities laws or the public policy underlying such laws. There is not in effect any order enjoining or restraining the Purchaser from entering into
or engaging in any of the transactions contemplated by this Agreement. 
 5.10 Short Sales. Since the date the Purchaser first
discussed with the Company the sale of the Shares contemplated by this Agreement, the Purchaser has not taken, and prior to the public announcement of the transaction the Purchaser shall not take, any action that has caused or will cause the
Purchaser to have, directly or indirectly, sold or agreed to sell any shares of Common Stock, effected any short sale, whether or not against the box, established any “put equivalent position” (as defined in Rule 16a-1(h) under the
Exchange Act) with respect to the Common Stock, granted any other right (including, without limitation, any put or call option) with respect to the Common Stock or with respect to any security that includes, relates to or derives any significant
part of its value from the Common Stock. 
 SECTION 6. Survival. Except as otherwise provided herein and notwithstanding any
investigation made by any party to this Agreement, all covenants and agreements made by the Company and the Purchasers herein and in the certificates delivered pursuant hereto shall survive the execution of this Agreement, the delivery to the
Purchasers of the Shares being purchased and the payment therefor. All representations and warranties made by the Company and the Purchasers herein and in the certificates delivered pursuant hereto shall survive the execution of this Agreement, the
delivery to the Purchasers of the Shares being purchased and the payment therefor. 
 SECTION 7. Registration of the Shares;
Compliance with the Securities Act. 
 7.1 Registration Procedures and Expenses. The Company shall: 
 (a) use its commercially reasonably efforts to prepare and file with the Commission as soon as reasonably practicable the Registration Statement on
Form S-3 (or a prospectus supplement to an effective shelf registration statement) relating to the resale of the Shares by the Purchasers from time to time on the Nasdaq Global Market, or the facilities of any national securities exchange on
which the Common Stock is then traded or in privately-negotiated transactions; 
 (b)
use its commercially reasonable efforts, subject to receipt of necessary information from the Purchasers, to cause the Registration Statement to become automatically effective or the Commission to declare the Registration Statement effective as soon
as reasonably practicable, and in any event by 4:30 p.m. Eastern time on the two hundred-and-tenth (210th) day following the Closing Date (the
“Effective Deadline”); and to file a prospectus (if required) with the Commission by no later than 9:00 a.m. Eastern time on the business day immediately following the Effective Date (for purposes herein, the “Effective
Date” shall mean the date on which the Registration Statement becomes or is declared by the Commission to be effective); 
 (c)
promptly prepare and file with the Commission such amendments and supplements to the Registration Statement and the prospectus used in connection therewith as may be necessary to keep the Registration Statement effective until the earliest of
(i) one year after the Closing Date, (ii) such time as all of the Shares have been sold pursuant to the Registration 

 
Statement, or (iii) such time as the Shares become eligible for resale by non-affiliates pursuant to Rule 144 under the Securities Act or any other rule
of similar effect without any volume or manner of sale restrictions or any need for the Company to be current in its Exchange Act reporting obligations; 
 (d) furnish to the Purchaser with respect to the Shares registered under the Registration Statement (and to each underwriter, if any, of such Shares) such number of copies of prospectuses and such other documents as
the Purchaser may reasonably request, in order to facilitate the public sale or other disposition of all or any of the Shares by the Purchaser; 
 (e) file documents required of the Company for Blue Sky clearance in states specified in writing by the Purchaser; provided, however, that the Company shall not be required to qualify to do business or consent to general
service of process in any jurisdiction in which it is not now so qualified or has not so consented; 
 (f) bear all reasonable expenses in
connection with the procedures in paragraphs (a) through (e) of this Section 7.1 and the registration of the Shares pursuant to the Registration Statement, other than fees and expenses, if any, of counsel or other advisers to the
Purchasers or underwriting discounts, brokerage fees and commissions incurred by the Purchasers, if any in connection with the offering and sale of the Shares pursuant to the Registration Statement; 
 (g) file a Form D with respect to the Shares as required under Regulation D promulgated under the Securities Act and provide a copy thereof to the
Purchaser upon request; and 
 (h) in order to enable the Purchasers to sell the Shares under Rule 144 to the Securities Act, for a
period of one (1) year from the Closing Date, use its commercially reasonable efforts to comply with the requirements of Rule 144, including without limitation, use its commercially reasonable efforts to comply with the requirements of
Rule 144 with respect to public information about the Company and timely file all reports required to be filed by the Company under the Exchange Act. 
 Notwithstanding the foregoing, upon the occurrence or existence of any material event that, in the reasonable judgment of the Company, makes it appropriate to suspend the availability of the prospectus (the
“Prospectus”) forming a part of the Registration Statement, the Company shall give notice (without notice of the nature or details of such events) to the Purchaser that the availability of the Prospectus is suspended (a
“Suspension”) and the Purchaser agrees not to sell any Shares pursuant to the Prospectus until the Purchaser is advised in writing by the Company that the Prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus. The period during which the availability of the Prospectus is suspended shall not exceed 45 days in any 90-day period or 90 days in any 365-day
period. 
 The Company understands that the Purchaser disclaims being an underwriter, but the Purchaser being deemed an underwriter shall not
relieve the Company of any obligations it has hereunder. 

 7.2 Transfer of Shares After Registration. From and after the effectiveness of the Registration
Statement, the Purchaser agrees that it will not effect any disposition of the Shares except as contemplated in the Registration Statement referred to in Section 7.1 or as otherwise permitted by law, and that it will promptly notify the Company
of any changes in the information set forth in the Registration Statement regarding the Purchaser or its plan of distribution. 
 7.3
Indemnification. 
 (a) For the purpose of this Section 7: 
 (i) the term “Purchaser/Affiliate” shall mean any affiliate of a Purchaser, including a transferee who is an affiliate of a Purchaser,
each officer, director and member of such Purchaser and any person who controls such Purchaser or any affiliate of such Purchaser within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act; and 
 (ii) the term “Registration Statement” shall include the Registration Statement referred to in Section 7.1, and any preliminary
prospectus, final prospectus, free writing prospectus, exhibit, supplement or amendment included therein or relating thereto, and any document incorporated by reference therein, and shall also include any prospectus supplement relating to an already
effective shelf registration statement to the extent that the Company is eligible to file such a prospectus supplement with respect to the registration of the Shares and elects to register the Shares by filing a prospectus supplement in lieu of
filing a new registration statement on Form S-3. 
 (b) The Company agrees to indemnify and hold harmless each Purchaser and each
Purchaser/Affiliate, against any losses, claims, damages, liabilities or expenses, joint or several, to which the Purchasers or Purchaser/Affiliates may become subject, under the Securities Act, the Exchange Act, or any other federal or state
statutory law or regulation, or at common law or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent of the Company), insofar as such losses, claims, damages, liabilities or expenses (or
actions in respect thereof as contemplated below) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, financial statements and schedules, and all other
documents filed as a part thereof, or arise out of or are based upon the omission or alleged omission to state in any of them a material fact required to be stated therein or necessary to make the statements in the Registration Statement not
misleading in light of the circumstances under which they were made, and will promptly reimburse each Purchaser and each Purchaser/Affiliate for reasonable legal and other expenses as such expenses are reasonably incurred by such Purchaser or such
Purchaser/Affiliate in connection with investigating, defending or preparing to defend, settling, compromising or paying any such loss, claim, damage, liability, expense or action; provided, however, that the Company will not be liable
for amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, and the Company will not be liable in any such
case to the extent that any such loss, claim, damage, liability or expense arises out of or is based upon (i) an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement in reliance upon
and in conformity with 

 
written information furnished to the Company by or on behalf of such Purchaser expressly for use therein, or (ii) the failure of such Purchaser to
comply with the covenants and agreements contained in Sections 5.10 or 7.2 hereof respecting the sale of the Shares, or (iii) the inaccuracy of any representation or warranty made by such Purchaser herein, or (iv) any statement or
omission in any Prospectus that is corrected in any subsequent Prospectus that was delivered to such Purchaser prior to the pertinent sale or sales by such Purchaser. 
 (c) Each Purchaser will severally, but not jointly with any of the other Purchasers, indemnify and hold harmless the Company, each of its directors, each of its officers who signed the Registration Statement and each
person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any losses, claims, damages, liabilities or expenses to which the Company, each of its directors,
each of its officers who signed the Registration Statement or controlling person may become subject, under the Securities Act, the Exchange Act, or any other federal or state statutory law or regulation, or at common law or otherwise (including in
settlement of any litigation, but only if such settlement is effected with the written consent of such Purchaser) insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof as contemplated below) arise out of or
are based upon (y) the Purchasers’ failure to comply with the prospectus delivery requirements of the Securities Act or (z) any untrue or alleged untrue statement of any material fact contained in the Registration Statement or arise
out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements in the Registration Statement not misleading in the light of the circumstances under which
they were made, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement in reliance upon and in conformity with written
information, including the Registration Statement Questionnaire, furnished to the Company by or on behalf of any Purchaser expressly for use therein; and will reimburse the Company, each of its directors, each of its officers who signed the
Registration Statement or controlling person for reasonable legal and other expenses reasonably incurred by the Company, each of its directors, each of its officers who signed the Registration Statement or controlling person in connection with
investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or action; provided, however, that each Purchaser’s aggregate liability under this Section 7.3(c) shall not exceed
the amount of the net proceeds received by such Purchaser on the sale of the Shares pursuant to the Registration Statement. 
 (d) Promptly
after receipt by an indemnified party under this Section 7.3 of notice of the threat or commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this
Section 7.3 promptly notify the indemnifying party in writing thereof, but the omission to notify the indemnifying party will not relieve it from any liability that it may have to any indemnified party under the indemnity agreement contained in
this Section 7.3 to the extent it is not prejudiced as a result of such failure or for contribution contained in Section 7.3(e). In case any such action is brought against any indemnified party and such indemnified party seeks or intends
to seek indemnity from an indemnifying party, the indemnifying party will be entitled to participate in, and, to the extent that it may wish, jointly with all other indemnifying parties similarly notified, to assume the defense thereof with counsel
reasonably satisfactory to such indemnified party; provided, however, if the defendants in any such action include both the indemnified party, and the indemnifying party and the indemnified party 

 
shall have reasonably concluded that there may be a conflict of interest between the positions of the indemnifying party and the indemnified party in
conducting the defense of any such action or that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party, the indemnified party or parties shall
have the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying party to such indemnified
party of its election to assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 7.3 for reasonable legal or other expenses
subsequently incurred by such indemnified party in connection with the defense thereof unless (i) the indemnified party shall have employed such counsel in connection with the assumption of legal defenses in accordance with the proviso to the
preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel, reasonably satisfactory to such indemnifying party, representing all of the indemnified parties who
are parties to such action) or (ii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of commencement of action, in
each of which cases the reasonable fees and expenses of counsel shall be at the expense of the indemnifying party. In no event shall any indemnifying party be liable in respect of any amounts paid in settlement of any action unless the indemnifying
party shall have approved in writing the terms of such settlement; provided that such consent shall not be unreasonably withheld. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement
of any pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnification could have been sought hereunder by such indemnified party unless such settlement releases the indemnified party from
all liability on claims that are the subject matter of such proceeding. 
 (e) If the indemnification provided for in this Section 7.3
is required by its terms but is for any reason held to be unavailable to or otherwise insufficient to hold harmless an indemnified party under paragraphs (b), (c) or (d) of this Section 7.3 in respect to any losses, claims, damages,
liabilities or expenses referred to herein, then each applicable indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of any losses, claims, damages, liabilities or expenses referred to herein
(i) in such proportion as is appropriate to reflect the relative benefits received by the Company and such Purchaser from the private placement of Common Stock hereunder or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but the relative fault of the Company and such Purchaser in connection with the statements or omissions
or inaccuracies in the representations and warranties in this Agreement and/or the Registration Statement that resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative
benefits received by the Company, on the one hand, and such Purchaser, on the other, shall be deemed to be in the same proportion as the amount paid by the Purchaser to the Company pursuant to this Agreement for the Shares purchased by the Purchaser
that were sold pursuant to the Registration Statement relative to the difference (the “Difference”) between the amount such Purchaser paid for the Shares that were sold pursuant to the Registration Statement and the net amount
received by such Purchaser from such sale. The relative fault of the Company on the one hand and each Purchaser on the other shall be determined by reference to, among other things, whether the untrue or alleged statement of a 

 
material fact or the omission or alleged omission to state a material fact or the inaccurate or the alleged inaccurate representation and/or warranty relates
to information supplied by the Company or by such Purchaser and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a result
of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in paragraph (d) of this Section 7.3, any legal or other fees or expenses reasonably incurred by
such party in connection with investigating or defending any action or claim. The provisions set forth in paragraph (d) of this Section 7.3 with respect to the notice of the threat or commencement of any threat or action shall apply if a
claim for contribution is to be made under this paragraph (e); provided, however, that no additional notice shall be required with respect to any threat or action for which notice has been given under paragraph (d) for purposes of
indemnification. The Company and the Purchasers agree that it would not be just and equitable if contribution pursuant to this Section 7.3 were determined solely by pro rata allocation (even if the Purchasers were treated as one entity for such
purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in this paragraph. Notwithstanding the provisions of this Section 7.3, each Purchaser shall not be required to contribute any
amount in excess of the amount by which the Difference exceeds the amount of any damages that such Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Purchasers’ obligations to contribute
pursuant to this Section 7.3(e) are several and not joint. 
 7.4 Termination of Conditions and Obligations. The restrictions
imposed by Section 5.6 or Section 7.2 upon the transferability of the Shares shall cease and terminate as to any particular number of the Shares upon the earlier of (i) the passage of one (1) year from the Closing Date and
(ii) at such time as an opinion of counsel satisfactory in form and substance to the Company shall have been rendered to the effect that such conditions are not necessary in order to comply with the Securities Act. 
 7.5 Information Available. The Company, upon the reasonable request of the Purchasers, shall make available for inspection by each Purchaser, any
underwriter participating in any disposition pursuant to the Registration Statement and any attorney, accountant or other agent retained by the Purchasers or any such underwriter, all financial and other records, pertinent corporate documents and
properties of the Company, and cause the Company’s officers, employees and independent accountants to supply all information reasonably requested by the Purchasers or any such underwriter, attorney, accountant or agent in connection with the
Registration Statement. 
 7.6 Delay in Effectiveness of Registration Statement. If the Registration Statement is not effective on or
prior to the Effective Deadline, then for each day following the Effective Deadline, until but excluding the date the Registration Statement becomes effective, the Company shall, for each such day, pay each Purchaser with respect to any such
failure, as liquidated damages and not as a penalty, an amount per 30-day period equal to 1.0% (accruing daily) of the purchase price paid pursuant to this Agreement by such Purchaser for the Shares owned by such Purchaser at such time; and for any
such 30-day period (or a portion thereof), such payment shall be made no later than three (3) business days following such 30-day period (or the day the Registration 

 
Statement becomes effective). If such Purchaser shall be prohibited from selling Shares under the Registration Statement as a result of a Suspension of more
than forty-five (45) consecutive days in any 90-day period or Suspensions on more than two occasions of not more than forty-five (45) days each in any 365-day period, then for each day on which a Suspension is in effect that exceeds the
maximum allowed period for a Suspension or Suspensions, but not including any day on which a Suspension is lifted, the Company shall pay such Purchaser, as liquidated damages and not as a penalty, an amount per 30-day period equal to 1.0% (accruing
daily) of the purchase price paid pursuant to this Agreement by such Purchaser for the Shares owned by such Purchaser at such time, and for any such 30-day period (or a portion thereof), such payment shall be made no later than three
(3) business days following such 30-day period (or the day the Suspension is lifted). For purposes of this Section 7.6, a Suspension shall be deemed lifted on the date that notice that the Suspension has been lifted is delivered to such
Purchaser pursuant to Section 7.1 of this Agreement. Any payments made pursuant to this Section 7.6 shall constitute such Purchaser’s exclusive remedy for such events. Notwithstanding the foregoing provisions, the liquidated damages
payable to such Purchaser shall not exceed 12% of the aggregate purchase price paid by such Purchaser for the Shares and in no event shall the Company be obligated to pay any liquidated damages pursuant to this Section 7.6 to more than one
Purchaser in respect of the same Shares for the same period of time. Such payments shall be made to the Purchasers in cash. If the Company fails to pay any liquidated damages pursuant to this Section in full within seven (7) days after the date
of written demand therefor, the Company will pay interest thereon at a rate of 10% per annum (or such lesser maximum amount that is permitted to be paid by applicable law) to such Purchaser, accruing daily from the date such liquidated damages
are due until such amounts, plus all interest thereon, are paid in full. 
 SECTION 8. Broker’s Fee. Each of the parties
hereto represents that, on the basis of any actions and agreements by it, there are no brokers or finders entitled to compensation in connection with the sale of the Shares to the Purchasers. 
 SECTION 9. Independent Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under this Agreement are several
and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser under the Agreement. The decision of each Purchaser to purchase the Shares
pursuant to the Agreement has been made by such Purchaser independently of any other Purchaser. Nothing contained in the Agreement, and no action taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership,
an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Agreement. Each
Purchaser acknowledges that no other Purchaser has acted as agent for such Purchaser in connection with making its investment hereunder and that no Purchaser will be acting as agent of such Purchaser in connection with monitoring its investment in
the Shares or enforcing its rights under this Agreement. Each Purchaser shall be entitled to independently protect and enforce its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any
other Purchaser to be joined as an additional party in any proceeding for such purpose. 

 SECTION 10. Notices. All notices, requests, consents and other communications hereunder shall
be in writing, shall be mailed by first-class registered or certified airmail, e-mail, confirmed facsimile or nationally recognized overnight express courier postage prepaid, and shall be deemed given when so mailed and shall be delivered as
addressed as follows: 
 if to the Company, to: 
 Active Power, Inc. 
 2128 W. Braker Lane, BK12 
 Austin, Texas 78758 
 Attention: John K.
Penver 
 Facsimile: (512) 836-4511 
 with a copy (which copy shall not constitute notice) to: 
 Wilson Sonsini Goodrich & Rosati, Professional Corporation

 900 South Capital of Texas Highway 
 Las Cimas IV, Fifth Floor 
 Austin, Texas 78746-5546 
 Attention: Derek L. Willis, Esq. 
 Facsimile: (512) 338-5499 
 or to such other person at such other place as the Company shall designate to the Purchasers in writing; and 
 if to the Purchasers, at its address as set forth at the end of this Agreement, or at such other address or addresses as may have been furnished to the
Company in writing. 
 SECTION 11. Changes. This Agreement may not be modified or amended, and no provision may be waived, except
pursuant to an instrument in writing signed by the Company and the Purchasers who hold at least a majority of the Shares sold pursuant to the Agreement. Any amendment or waiver effected in accordance with this Section 11 shall be binding upon
the Purchasers and each holder of any securities purchased under the Agreement at the time outstanding, each future holder of all such securities, and the Company. 
 SECTION 12. Headings. The headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be part of this Agreement. 
 SECTION 13. Severability. In case any provision contained in this Agreement should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. 
 SECTION 14. Governing Law; Venue; Waiver of Jury Trial. THIS AGREEMENT IS TO BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE FEDERAL LAW OF THE UNITED STATES OF AMERICA AND THE INTERNAL LAWS OF THE STATE OF DELAWARE WITHOUT
GIVING EFFECT TO ANY CHOICE OF LAW RULE THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE INTERNAL LAWS OF THE STATE OF DELAWARE TO THE RIGHTS AND DUTIES OF THE PARTIES. THE COMPANY AND EACH PURCHASER SUBMIT TO THE
NONEXCLUSIVE 

 
JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE AND OF ANY DELAWARE STATE COURT SITTING IN DELAWARE FOR PURPOSES OF ALL LEGAL
PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. THE COMPANY AND EACH PURCHASER IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND
CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS
AGREEMENT AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW. THE COMPANY
AND EACH PURCHASER HEREBY WAIVE ALL RIGHTS TO A TRIAL BY JURY. 
 SECTION 15. Counterparts. This Agreement may be executed in
counterparts, each of which shall constitute an original, but all of which, when taken together, shall constitute but one instrument, and shall become effective when one or more counterparts have been signed by each party hereto and delivered to the
other parties. Facsimile signatures shall be deemed original signatures. 
 SECTION 16. Entire Agreement. This Agreement, the
Confidentiality Agreement between the Company and Kinderhook Partners, L.P. dated as of April 28, 2009 (the “Confidentiality Agreement”) and the instruments referenced herein contain the entire understanding of the parties with
respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither the Company nor any Purchaser makes any representation, warranty, covenant or undertaking with respect to such matters. Each party
expressly represents and warrants that it is not relying on any oral or written representations, warranties, covenants or agreements outside of this Agreement and the Confidentiality Agreement. 
 SECTION 17. Fees and Expenses. Except as otherwise set forth herein, the Company and each of the Purchasers shall pay their respective fees
and expenses related to the transactions contemplated by this Agreement. 
 SECTION 18. Parties. This Agreement is made solely
for the benefit of and, subject to Section 11, is binding upon each Purchaser and the Company and to the extent provided in Section 7.3, any person controlling the Company or any Purchaser, the officers and directors of the Company, and
their respective executors, administrators, successors and assigns and subject to the provisions of Section 7.3, no other person shall acquire or have any right under or by virtue of this Agreement. The term “successor and assigns”
shall not include any subsequent purchaser, as such purchaser, of the Shares sold to the Purchaser pursuant to this Agreement. 

 SECTION 19. Further Assurances. Each party agrees to cooperate fully with the other parties
and to execute such further instruments, documents and agreements and to give such further written assurance as may be reasonably requested by any other party to evidence and reflect the transactions described herein and contemplated hereby and to
carry into effect the intents and purposes of this Agreement. 
 SECTION 20. Securities Laws Disclosure; Publicity. The Company
shall use its commercially reasonable efforts, by 9:00 a.m. New York City time on the first day immediately following the date hereof on which trading is scheduled to take place on the Nasdaq Global Market, to issue a press release disclosing all
material terms of the transactions contemplated hereby, and by 3:00 p.m. New York City time on the second day following the date hereof on which trading is scheduled to take place on the Nasdaq Global Market, the Company shall file a Current Report
on Form 8-K, disclosing the material terms of the transactions contemplated hereby and filing the form of this Agreement as an exhibit in accordance with the applicable Commission rules and regulations. In addition, the Company will make such
other filings and notices in the manner and time required by the Commission and the Nasdaq Global Market or any other trading market on which the Common Stock is listed or quoted. Notwithstanding the foregoing, the Company shall not publicly
disclose the name of the Purchasers, or include the name of the Purchasers in any filing with the Commission (other than the Registration Statement and any exhibits to filings made in respect of this transaction in accordance with periodic filing
requirements under the Exchange Act) or any regulatory agency or the Nasdaq Global Market or other trading market, without the prior written consent of the Purchasers, except to the extent such disclosure is required by law or the Nasdaq Global
Market or other trading market regulations, in which case the Company shall provide the Purchasers with prior notice of such disclosure. 
 [Remainder of Page Left Intentionally Blank] 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized
representatives as of the day and year first above written. 
  

			
	Active Power, Inc.
		
	By:	 	 /s/ John K. Penver

	Name:	 	 John K. Penver

	Title:	 	 Chief Financial Officer

 [Signature Page to Securities Purchase Agreement] 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized
representatives as of the day and year first above written. 
  

					
	Purchaser
	
	 Kinderhook Partners, L.P.

	Name of Purchaser	 	
	(Individual or Institution)	 	
	
	 New Jersey

	Jurisdiction of Purchaser’s Executive Offices
	
	 Tushar Shah, Partner

	Name and Title of Individual representing Purchaser (if an Institution)
	
	 /s/ Tushar Shah

	Signature of Individual Purchaser or Individual representing Purchaser (if an Institution)
		
	Address:	 	  

					
		
	Telephone:	 	  

					
		
	Facsimile:	 	  

					
		
	E-mail:	 	  

			
		
	Number of Shares:	  	 6,000,000

			
	Purchase Price per Share:	  	 $0.50

			
	Aggregate Purchase Price:	  	 $3,000,000.00

 [Signature Page to Securities Purchase Agreement]Amendment No.2 to Revolving Credit and Term Loan Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDMENT NO. 2 TO 
 REVOLVING CREDIT AND TERM LOAN AGREEMENT 
 This Amendment No. 2 dated as of
May 29, 2009 to the Revolving Credit and Term Loan Agreement (this “Amendment No. 2”), is entered into among Atlas Pipeline Partners, L.P., a Delaware limited partnership (“Borrower”), the Subsidiaries of
the Borrower identified as “Guarantors” on the signature pages hereto (the “Guarantors”), the Lenders signatory hereto and Wachovia Bank, National Association, in its capacity as administrative agent for the Lenders (in
such capacity, the “Administrative Agent”) and amends the Revolving Credit and Term Loan Agreement dated as of July 27, 2007 (as amended by Amendment No. 1 and Agreement dated as of June 12, 2008 and as amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”) entered into among the Borrower, the Guarantors named therein, the institutions from time to time party thereto as Lenders (the
“Lenders”), the Administrative Agent and the other agents and arrangers named therein. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. 
 W I T N E S S E T H: 
 WHEREAS,
Section 12.04 of the Credit Agreement provides that the Credit Agreement may be amended, modified and waived from time to time; 
 WHEREAS, the Borrower and Atlas Pipeline Operating Partnership, L.P. (“APL Operating”) have entered into a Formation and Exchange Agreement dated as of March 31, 2009 by and between Williams Field Services Group, LLC
(“WFSG”), Williams Laurel Mountain, the Borrower, APL Operating and APL Laurel Mountain, LLC providing for contribution by the Borrower to Laurel Mountain Midstream, LLC, a Delaware limited liability company (“Laurel
Mountain”), the joint venture formed by the Borrower and WFSG of the natural gas gathering and transportation business and the natural gas liquids extraction business conducted utilizing the natural gas gathering system located in eastern
Ohio, western New York, northern West Virginia and western Pennsylvania and the liquids extraction facility located in McKean County, Pennsylvania (the “Appalachian Business”), in exchange for a cash payment to a subsidiary of the
Borrower of $90 million and the issuance to such subsidiary of the Borrower of (x) a 49% interest in Laurel Mountain and (y) preferred distribution rights with respect to payments made by WFSG or a subsidiary thereof on account of the
$25.5 million promissory note to be issued by such subsidiary of WFSG and guaranteed by WSFG to Laurel Mountain as part of WFSG’s capital contribution to Laurel Mountain (the “LM Preferred Interest”); 
 WHEREAS, the Borrower desires to amend the Credit Agreement to permit the sale of the Appalachian Business to Laurel Mountain; 
 WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders agree to amend the Credit Agreement in certain other respects as set
forth herein; 
 WHEREAS, subject to certain conditions, the Required Lenders are willing to agree to the amendments set forth in
Section 1 hereof relating to the Credit Agreement; 

 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 hereby agree as follows: 
 Section 1. Amendment to
Credit Agreement 
 (a) Amendments to Section 1.02 of the Credit Agreement.
Section 1.02 of the Credit Agreement is hereby amended as follows: 
 (i) The definition of “Adjusted
LIBOR” is hereby amended by inserting the following immediately after “Interest Period” and immediately prior to “.”: 
 ; provided that notwithstanding the foregoing, if the Adjusted LIBOR Rate for any Interest Period as so calculated shall be less than 2.00% per annum, the Adjusted LIBOR Rate shall be deemed to be 2.00% per annum.”

 (ii) The definition of “Applicable Margin” is hereby amended and restated as follows: 
 “Applicable Margin means (i) prior to the Amendment No. 2 Effective Date, “Applicable Margin as defined in this
Agreement prior to giving effect to Amendment No. 2 and (ii) on and after the Amendment No. 2 Effective Date, with respect to Term Loans and Revolver Loans, (x) if the Leverage Ratio is less than 7.0 to 1, 4.75% for LIBOR Loans
and 3.75% for Base Rate Loans and (y) if otherwise, 5.75% for LIBOR Loans and 4.75% for Base Rate Loans.” 
 (iii)
The definition of “Commitment Fee Percentage” is hereby amended and restated as follows: 
 “Commitment Fee
Percentage means (i) prior to the Amendment No. 2 Effective Date, shall mean “Commitment Fee Percentage” as defined in this Agreement prior to giving effect to Amendment No. 2 and (ii) on and after the Amendment
No. 2 Effective Date, 0.50%” 
 (iv) The definition of “Consolidated EBITDA” is hereby amended and
restated as follows (with changes highlighted by underlining insertions and strikethrough text to mark deletions): 
 “Consolidated EBITDA means, for any trailing twelve-month period, the sum of (i) Consolidated Net Income for such period, plus without duplication (ii) the following expenses or charges to the extent
deducted from Consolidated Net Income in such period: interest, income taxes, depreciation, depletion, amortization, non-cash compensation on long-term incentive plans, extraordinary, unusual or non-recurring charges relating to premiums or
penalties paid to counterparties, in connection with the breakage, termination or unwinding of Hedging Agreements to the extent such charges are financed with or paid for out of proceeds of an Equity Offering by the Borrower and other non-cash
charges (other than a non-cash charge resulting from an accrual of a reserve for any cash charge in any future period) to Consolidated Net Income including non-cash losses resulting from mark to market accounting of Hedging Agreements, plus
without duplication (iii) the amount of dividends or distributions (other than a LM Preferred Interest Distribution Setoff) received in cash by the Borrower and its Consolidated Subsidiaries from Laurel Mountain, minus without
duplication (iv) non-cash credits to Consolidated Net Income including non cash gains resulting from mark to market accounting of Hedging Agreements. For purposes of this Agreement, Consolidated EBITDA shall be adjusted on a pro forma basis, in
a manner reasonably acceptable to the Administrative Agent, to include, as of the first day of any applicable period, the historical financial results of any acquisition permitted by Section 9.03(i) closed during such period and
exclude, as of the first day of any applicable period, without duplication, 

  

 -2- 

 
the Consolidated EBITDA attributable to (i) assets divested by the Borrower; (ii) to the extent funded with the Net Cash Proceeds from an Equity
Offering, losses (in an amount not to exceed the Net Cash Proceeds from such Equity Offering) resulting from the termination or unwinding of Hedging Agreements of the type described in Section 9.07(a) and (iii) the after-tax effect of
income (loss) from the early extinguishment of and the interest payments made on Debt extinguished, in each case, occurring during such period or subsequent thereto but on or prior to the date of determination of Consolidated EBITDA; provided
that the Consolidated EBITDA attributable to (I) the Appalachian Business; the NOARK Entities and the Sweetwater Gas Processing Plant located in Beckham County, Oklahoma, (II) termination or unwinding prior to March 31, 2009 of Hedging
Agreements of the type described in Section 9.07(a) and (III) the after-tax effect of income (loss) from the early extinguishment of Debt prior to March 31, 2009 shall be included.” 
 (v) The definition of “Consolidated Interest Expense” is hereby amended and restated as follows (with changes highlighted
by underlining insertions and strikethrough text to mark deletions): 
 Consolidated Interest Expense means with respect to such
Person and its Consolidated Subsidiaries, for any period, the aggregate cash interest payments made or required to be made for such Person and its Consolidated Subsidiaries on a consolidated basis for such period; provided, that
(i) Consolidated Interest Expense for the fiscal quarter ending December 31, 2007 shall be calculated by annualizing the Consolidated Interest Expense for such fiscal quarter, (ii) Consolidated Interest Expense for the fiscal quarter
ending March 31, 2008 shall be calculated by annualizing the Consolidated Interest Expense for such fiscal quarter and the previous fiscal quarter; (iii) Consolidated Interest Expense for fiscal quarter ending June 30, 2008 shall be
calculated by annualizing the Consolidated Interest Expense for such fiscal quarter and the two (2) previous fiscal quarters and (iv) Consolidated Interest Expense shall exclude historical cash interest payments made with respect to Loans
that are prepaid in such period with the Net Cash Proceeds of a Disposition permitted under Section 9.17(f); provided that Consolidated Interest Expense for the fiscal quarter ended March 31, 2009 and the fiscal
quarter ended June 30, 2009 shall include historical cash interest payments made with respect to Loans that were prepaid with the Net Cash Proceeds of the Dispositions of the Appalachian Business; the NOARK Entities and the Sweetwater Gas
Processing Plant located in Beckham County, Oklahoma. 
 (vi) The definition of “Debt” is hereby amended by
inserting the following at the end of clause (v) immediately after “such Property” and before “;”: 
 “excluding
however (y) oil and gas leases or rights of way acquired in the ordinary course of business solely with respect to the right to maintain flow lines or gathering lines or sales lines across the lands subject thereto, and (z) equipment
leases in the ordinary course of business for (i) gathering and processing of Hydrocarbons gathered and transported through the Pipelines or processed, treated or handled in the Pipeline Properties and (ii) office equipment, in each case
to the extent such leases are properly accounted for under GAAP as operating leases and not capital leases or as part of a sale leaseback transaction.” 
 (vii) The definition of “Increase Effective Date” is hereby deleted in its entirety. 
  

 -3- 

 (viii) The definition of “Incremental Loan” is hereby deleted in its
entirety. 
 (ix) The definition of “Incremental Loan Commitment” is hereby deleted in its entirety

 (x) The definition of “Incremental Loan Maturity Date” is hereby deleted in its entirety. 
 (xi) The definition of “Increase Joinder” is hereby deleted in its entirety 
 (xii) The definition of “Mortgages” is hereby amended and restated as follows: 
 “Mortgages” means each of the Open-Ended Mortgages described or referred to in Exhibit D hereto and any additional mortgages,
deeds of trust, security agreements and financing statements or other Security Instruments necessary and appropriate to create and perfect a mortgage Lien in any additional Pipeline Properties acquired by any Obligor as contemplated by
Section 8.09(a) hereof”. 
 (xiii) The definition of “Pro Forma Cost Savings” is hereby deleted in
its entirety. 
 (xiv) The definition of “Revolver Facility” is hereby amended by deleting the words “or
increased pursuant to Section 2.12(a).” 
 (xv) The definition of “Specified Acquisition Period” is
hereby deleted in its entirety. 
 (xvi) The following definitions shall be added in alphabetical order to read as follows:

 AHD Preferred Equity Investment shall mean the Class B Member Interest issued by a wholly-owned subsidiary of Atlas Pipeline
Holdings, L.P. to the Borrower in exchange for cash consideration of $15 million. 
 Amendment No. 2 shall mean that
certain Amendment No. 2 to the Credit Agreement dated as of the Amendment No. 2 Effective Date among the Borrower, the Guarantors, the Lenders and Administrative Agent. 
 Amendment No. 2 Effective Date shall mean the date on which each of the conditions precedent to the effectiveness of Amendment
No. 2 shall have been satisfied or waived by the Administrative Agent. 
 Appalachian Business has the meaning given to
such term in the Laurel Mountain Formation and Exchange Agreement. 
 Appalachian Business Investment means the acquisition by
the Borrower and its Consolidated Subsidiaries of (x) a 49% interest in Laurel Mountain and (y) the LM Preferred Interest as part of the consideration in exchange for the contribution by the Borrower and its Consolidated Subsidiaries of
the Appalachian Business to Laurel Mountain. 
 Appalachian Disposition means the sale of the Appalachian Business. 

 

 -4- 

 Available Cash shall mean, as at any date of determination, the total amount classified as
cash and cash equivalents on a consolidated balance sheet of the Borrower and its Consolidated Subsidiaries in accordance with GAAP less amounts classified as restricted cash. 
 Capital Assets shall mean, with respect to any person, all equipment, fixed assets and real Property or improvements of such Person, or
replacements or substitutions therefor or additions thereto, that, in accordance with GAAP, have been or should be reflected as additions to property, plant or equipment on the balance sheet of such Person. 
 Capital Expenditures shall mean, for any period, without duplication, all expenditures (including, without limitation, expenditures related
to maintenance and repairs) made directly or indirectly by the Borrower and its Subsidiaries during such period for Capital Assets (whether paid in cash or other consideration or financed by the incurrence of Debt), but excluding (i) any
portion of the increase in Capital Assets attributable solely to acquisitions of property, plant and equipment permitted by Section 9.03(i); (ii) the Appalachian Business Investment, (iii) additional investments by the
Borrower and its Consolidated Subsidiaries permitted by Section 9.03(g)(ii), and (iv) any LM Preferred Interest Distribution Setoff amounts. 
 Consolidated Senior Secured Funded Debt shall mean, as at any date of determination, Consolidated Funded Debt that is not Subordinated Debt and that is secured by a Lien on any assets of the Borrower or
any of its Subsidiaries. 
 Excess Cash Flow means, for any Excess Cash Flow Period, the sum of the following determined on a
consolidated basis, without duplication, for the Borrower and its Consolidated Subsidiaries in accordance with GAAP: (a) Consolidated EBITDA for such period minus (b) the sum of the following: (i) cash taxes and Consolidated
Interest Expense paid in cash for such period, (ii) the cash amount of all permitted principal payments made in respect of Debt during such period, (iii) all Capital Expenditures made during such period, (iv) the cash amount of all
permitted principal payments made with respect to the Term Loan Facility and prepayments or repayments of the Revolver Loans to the extent that the Revolver Commitment is permanently reduced by an equal amount at the time of such payment,
(v) the cash portion of the purchase price and other reasonable acquisition-related costs paid by the Borrower for acquisitions permitted by Section 9.03(i), (vi) Transaction Costs during such period,
(vii) transaction costs and premiums paid to purchase options permitted under Section 9.07 and (viii) investments permitted by Section 9.03(g) (other than investments made with the LM Preferred
Interest Distribution Setoff) and (p) plus or minus (c) any increases or decreases in working capital. 
 Excess Cash Flow Period shall mean (i) the period taken as one accounting period from and including July 1, 2009 and ending on December 31, 2009 and (ii) each fiscal year of Borrower thereafter. 

Laurel Mountain means the joint venture formed by the Borrower and WFSG pursuant to the Laurel Mountain Formation and Exchange
Agreement. 
 Laurel Mountain Formation and Exchange Agreement means that certain Formation and Exchange Agreement entered into
as of March 31, 2009 by and between WFSG, Williams Laurel Mountain, LLC, the Borrower, APL Operating and APL Laurel Mountain, LLC, as amended by Amendment No. 1 dated as of April 16, 2009. 
  

 -5- 

 Laurel Mountain LLC Agreement means that certain Amended and Restated Limited
Liability Company Agreement of Laurel Mountain by and between Williams Laurel Mountain, LLC and APL Laurel Mountain, LLC to be entered into upon the sale of the Appalachian Business. 
 LM Preferred Interest means the preferred distribution rights with respect to payments made by WFSG or a subsidiary thereof on account of
the WFSG Promissory Note issued to Laurel Mountain as part of WFSG’s capital contribution to Laurel Mountain. 
 LM Preferred
Interest Distribution Setoff means any dividend, distribution, cancellation, contribution of or setoff with respect to the LM Preferred Interest that is applied to the payment of capital contributions otherwise payable by the Borrower or any
of its Consolidated Subsidiaries to Laurel Mountain. 
 Minimum Liquidity shall mean, as at any date of determination, the sum
of Available Cash and, so long as at any such date of determination the conditions precedent set forth in Section 6.02 are satisfied, the Revolver Availability Amount. 
 NOARK Entities means Atlas Arkansas, AAPL2, NOARK, OGG and OGT. 
 Revolver Availability Amount shall mean, as at any date of determination, the excess of the aggregate of Revolver Commitments of Revolver
Lenders over the aggregate Revolver Principal Debt of Revolver Lenders. 
 Senior Secured Leverage Ratio has the meaning given
to such term in Section 9.12. 
 Specified Debt shall mean Subordinated Debt and any senior or subordinated
unsecured notes. 
 Transaction Costs means all transaction fees, charges and other amounts related to this Agreement and any
future amendments hereof or any acquisition permitted by Section 9.03(i) or, to the extent paid to non-Affiliates, any permitted Disposition (including, without limitation, any financing fees, merger and acquisition fees, legal
fees and expenses, due diligence fees or any other fees and expenses in connection therewith), all such transaction fees as approved by the Administrative Agent, such approval not to be unreasonably withheld. 
 WFSG means Williams Field Services Group, LLC. 
 WFSG Promissory Note means that certain $25.5 million promissory note issued by a subsidiary of WFSG to Laurel Mountain and guaranteed by WFSG as part of the consideration in exchange for the
contribution by the Borrower and its Consolidated Subsidiaries of the Appalachian Business to Laurel Mountain. 
 (b)
Section 2.04(a) of the Credit Agreement is hereby amended to delete the final two sentences thereof. 
  

 -6- 

 (c) Section 2.12 of the Credit Agreement is hereby deleted in its entirety;
provided that it is understood and agreed that such deletion shall not affect the Revolving Commitments outstanding immediately prior to the Amendment No. 2 Effective Date (for avoidance of doubt, such Revolving Commitments include the
Incremental Loan Commitments that were provided by the Lenders party to the Increase Joinder dated June 27, 2008 among the Borrower, the Administrative Agent and such Lenders). 
 (d) Section 3.01(b)(iii) is hereby amended by deleting it in its entirety and replacing with the following (with changes highlighted
by underlining insertions and strikethrough text to mark deletions): 
 “(iii) The Borrower shall prepay the Loans in the manner set
forth in clause (vi) below in amounts equal to with respect to any Equity Offering consummated, commenced or announced after March 31, 2009, (x) on or prior to September 30, 2009, fifty percent (50%) and (y) thereafter,
fifty percent (50%) (or if the Borrower’s Leverage Ratio is less than 5.0:1.0, 0%) of the aggregate Net Cash Proceeds from any Equity Offering by or capital contribution to the Borrower or any of its Subsidiaries other than the exercise
price on stock options issued as part of employee compensation. Such prepayment shall be made within five (5) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.” 
 (e) Section 3.01(b)(iv) of the Credit Agreement is hereby amended by deleting it in its entirety and replacing with the following
(with changes highlighted by underlining insertions and strikethrough text to mark deletions): 
 “(iv) The Borrower shall prepay the
Loans in the manner set forth in clause (vi) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any Disposition by the Borrower or any of its Subsidiaries. Such prepayments shall be made within
five (5) Business Days after receipt of Net Cash Proceeds of any such transaction by the Borrower or any of its Subsidiaries; provided that, so long as no Default or Event of Default has occurred and is continuing, no prepayments shall
be required hereunder (A) in connection with (x) up to $135,000,000 of aggregate Net Cash Proceeds in respect of Dispositions consummated in the fiscal year ended December 31, 2009 and (y) up to $50,000,000 of aggregate Net Cash
Proceeds in respect of Dispositions consummated in any fiscal year thereafter from Dispositions (other than any Disposition pursuant to the terms of the Pioneer Option Agreement) by the Borrower or any of its Subsidiaries which is reinvested within
three hundred sixty (360) days after receipt of such Net Cash Proceeds by the Borrower or any of its Subsidiaries in similar replacement assets; provided that such $50,000,000 basket in this clause (y) shall not apply with respect
to any Disposition if pro forma for any such Disposition, (A) the Senior Secured Leverage Ratio would be greater than 3.00 to 1.00 or (B) the Minimum Liquidity would be less than or equal to $50 million, in which case the Borrower shall be
required to prepay the Loans in the manner set forth in clause (vi) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any such Disposition by the Borrower or any of its Subsidiaries or (B) in
connection with Dispositions permitted pursuant to Section 9.17 (other than Section 9.17(f)).” 
  

 -7- 

 (f) Section 3.01(b) is hereby amended by inserting the following clause
(viii) as follows: 
 “(viii) No later than five Business Days after the date on which the financial statements with
respect to each Excess Cash Flow Period are or are required to be delivered pursuant to Section 8.01(a) (without giving effect to any grace period applicable thereto), the Borrower shall promptly deliver a notice of prepayment to the
Administrative Agent and upon receipt of such notice, the Administrative Agent shall promptly so notify the Lenders. Each prepayment of the Loans under this clause (viii) shall be applied in the manner set forth in clause (vi) above and in
accordance with the provisions of Section 2.07 in an aggregate amount equal to the applicable percentage set forth at the appropriate intersection in the table set forth below, based on the Leverage Ratio as in effect from time to
time: 
  

				
	 Leverage Ratio
	  	Excess Cash Flow Prepayment Percentage	 
	 35.50 to 1
	  	100	%
		
	 35.00 to 1 but <5.50 to 1
	  	75	%
		
	 34.00 to 1 but <5.00 to 1
	  	50	%
		
	 <4.00 to 1
	  	0	%

 provided that, notwithstanding the provisions of Section 2.07, Revolver Loans required
to be repaid with Excess Cash Flow pursuant to this clause (viii) shall not be available to be reborrowed and the Revolver Commitment shall be permanently reduced by the amount of such payment applied to repay Revolver Loans.” 

(g) Section 7.23 of the Credit Agreement is hereby amended by inserting the words “the agreements relating to Laurel
Mountain, including, without limitation, the Laurel Mountain LLC Agreement and the Laurel Mountain Formation and Exchange Agreement and” immediately after “(“ and immediately preceding the words “the agreements referenced.”

 (h) Section 8.07 of the Credit Agreement is hereby amended by deleting the words “Reserved” and replacing
them with the following: 
 “Section 8.07 Capital Expenditures and Hedging Strategy Consultant. No later than 45 days after the
Amendment No. 2 Effective Date, the Borrower shall engage, at the Borrower’s expense, a consultant reasonably acceptable to the Borrower and the Administrative Agent to conduct a one-time review reasonably satisfactory in scope to the
Administrative Agent of the Capital Expenditures strategy and the Hedging Agreements strategy of the Borrower and its Consolidated Subsidiaries. Such consultant shall deliver their report with respect to such review to the Borrower and to the
Administrative Agent. The Administrative Agent shall make such report available to the Lenders as soon as practicable after receipt of such report by the Administrative Agent.” 
 (i) Section 8.13(a)(ii) of the Credit Agreement is hereby amended by adding the words “provided that the Borrower’s
equity interest in Laurel Mountain and the LM Preferred Interest (including, for avoidance of doubt, the rights to LM Preferred Interest Distribution Setoffs) shall be required to be pledged pursuant to this clause (ii)” immediately after the
words “Unrestricted Entities” and prior to “, and”. 
  

 -8- 

 (j) Section 9.01(p) of the Credit Agreement is hereby amended by deleting the words
“50,000,000” and replacing them with “25,000,000”. 
 (k) Section 9.02(c) is hereby amended by
deleting it in its entirety and replacing it with the following: 
 “(c) the filing of UCC financing statements solely as a precautionary
measure in connection with (i) oil and gas leases or rights of way acquired in the ordinary course of business solely with respect to the right to maintain flow lines or gathering lines or sales lines across the lands subject thereto and
(ii) equipment leases in the ordinary course of business for (x) gathering and processing of Hydrocarbons gathered and transported through the Pipelines or processed, treated or handled in the Pipeline Properties and (y) office
equipment; provided that in the case of both clause (i) and (ii) hereof, such leases are properly accounted for under GAAP as operating leases and not capital leases or as part of a sale leaseback transaction.” 
 (l) Section 9.02(f)(ii) of the Credit Agreement is hereby amended and restated by deleting the words “Section
9.01(k)” and replacing them with the words “Section 9.01(p)”. 
 (m) Section 9.03(f)
of the Credit Agreement is hereby amended by deleting it in its entirety and replacing with the following (with changes highlighted by underlining insertions and strikethrough text to mark deletions): 
 “(f) (i) investments, loans or advances in or to the Borrower or any Consolidated-Subsidiary permitted under Section 9.01(g)
or investments, loans or advances to the Borrower or any Obligor and (ii) the AHD Preferred Equity Investment.” 
 (n) Section 9.03(g) of the Credit Agreement is hereby amended by deleting the word “[Reserved]” and replacing it with the following: 
 “(i) the Appalachian Business Investment and (ii) additional investments by the Borrower and its Consolidated Subsidiaries in Laurel Mountain to fund the Borrower’s pro rata share of capital
contributions to Laurel Mountain required to be made in accordance with the Laurel Mountain LLC Agreement in an aggregate amount not to exceed $10 million per annum (which amount, for avoidance of doubt, shall not include capital contributions made
with the LM Preferred Interest Distribution Setoff); provided that if the aggregate amount of investments made in any fiscal year pursuant to this sub clause (ii) shall be less than $10 million, then the amount of such shortfall may be
added to the amount of investments permitted pursuant to this sub clause (ii) for the immediately succeeding (but not any other) fiscal year (it being understood that investments made in any fiscal year pursuant to this sub clause
(ii) shall be counted first against the $10 million available to be spent in such fiscal year and second against the unused amount, if any, carried over from the immediately prior fiscal year); provided, further that
(x) no cash investments or contribution may be made by the Borrower and its Consolidated Subsidiaries pursuant to this clause (ii) unless and until all the mandatory prepayments of the WFSG Promissory Note that the Borrower or its
Consolidated Subsidiaries have the right to require to be made in such fiscal year and all prior fiscal periods have been made.” 
 (o) Section 9.03(i) of the Credit Agreement is hereby amended by deleting the words “Non-hostile” and replacing them with “non-hostile” and inserting the following immediately preceding such
words: 
 “So long as pro forma for any such acquisition the Leverage Ratio is less than or equal to 4.75 to 1.00,” 
  

 -9- 

 (p) Section 9.04 of the Credit Agreement is hereby deleted in its entirety and
replaced with the following (with changes highlighted by underlining insertions and strikethrough text to mark deletions): 
 “Section
9.04 Dividends, Distributions and Redemptions. None of the Borrower or any of its Consolidated Subsidiaries will declare or pay any dividend, purchase, redeem or otherwise acquire for value any of its equity interests now or hereafter
outstanding, return any capital to its unitholders or make any distribution of its assets to its unitholders except (1) to the Borrower or any Obligor, (2) to other holders of such Person’s capital stock in connection with a pro rata
distribution to all holders of such Person’s capital stock (including, in the case of the Borrower, distributions to the General Partner in respect of its incentive distribution rights) to the extent any such distribution would otherwise be
permitted pursuant to another clause of this Section 9.04, (3) in the case of the Anadarko JVs, such distributions as are required by the JV Documents as in effect on the Closing Date and (4) to the extent required to comply with the
Limited Partnership Agreement, unless an Event of Default has occurred and is continuing or would result therefrom, (x) the Borrower may make a distribution to its unitholders not to exceed $0.15 per common unit in respect of the fiscal quarter
ended March 31, 2009 and (y) commencing with the fiscal quarter ended March 31, 2010, the Borrower and its Consolidated Subsidiaries may declare or pay any dividend, purchase, redeem or otherwise acquire for value any of its equity
interests now or hereafter outstanding, return any capital to its unitholders or make any distribution of its assets to its unitholders, so long as pro forma for any such dividend, distribution, purchase, redemption or acquisition or return of
capital (A) the Senior Secured Leverage Ratio is less than or equal to 2.75 to 1.00 and (B) the Minimum Liquidity is at least $50 million.” 
 (q) Section 9.08 of the Credit Agreement is hereby amended by deleting the words “[Reserved]” and replacing them with the following: 
 “Section 9.08 Early Termination of Hedge Agreements. None of the Borrower or any of its Consolidated Subsidiaries will
(a) terminate any Hedging Agreement having a positive market value of the type described in Section 9.07(a) or (b) prior to the termination date set forth in the agreement governing such Hedging Agreement or (b) consent to an
amendment to an agreement governing any Hedging Agreement of the type described in Section 9.07(a) or (b) to accelerate the termination date of such Hedging Agreement unless, such termination, in the case of sub clause (a), or such
termination date, in the case of sub clause (b) occurs in the same fiscal quarter as the termination date of such Hedging Agreement was scheduled to occur prior to any such termination or acceleration.” 
 (r) Section 9.11 of the Credit Agreement is hereby amended by deleting all of the words immediately after “any principal amount
of any” and replacing them with the following: 
 “Specified Debt except refinancings, refundings, renewals, extensions or exchange
of any Specified Debt permitted by Section 9.01(i); provided that so long as pro forma for any such prepayment the Minimum Liquidity is greater than or equal to $60 million, the Borrower shall be permitted to prepay up to
$100 million in the aggregate of Specified Debt with the Net Cash Proceeds of an Equity Offering by, or capital contribution to, the Borrower” 
  

 -10- 

 (s) Section 9.12 of the Credit Agreement is hereby amended by deleting the words
“[Reserved]” and replacing them with the following: 
 “Section 9.12 Consolidated Senior Secured Funded Debt
to Consolidated EBITDA. The Borrower will not permit the ratio of its Consolidated Senior Secured Funded Debt to Consolidated EBITDA (the “Senior Secured Leverage Ratio”) as of the end of any fiscal quarter of the
Borrower commencing with the fiscal quarter ending June 30, 2009 (calculated quarterly based upon the four most recently completed quarters, and including pro forma adjustments acceptable to the Administrative Agent following any material
acquisition or Disposition) to be more than: 
  

			
	 April 1, 2009 through June 30, 2009
	 	3.00 to 1.00
		
	 July 1, 2009 through September 30, 2009
	 	3.75 to 1.00
		
	 October 1, 2009 through December 31, 2009
	 	5.25 to 1.00
		
	 January 1, 2010 through March 31, 2010
	 	5.75 to 1.00
		
	 April 1, 2010 through June 30, 2010
	 	5.00 to 1.00
		
	 July 1, 2010 through September 30, 2010
	 	4.25 to 1.00
		
	 October 1, 2010 through December 31, 2010
	 	3.75 to 1.00
		
	 January 1, 2011 and thereafter
	 	3.00 to 1.00 ”

 (t) Section 9.13 of the Credit Agreement is hereby deleted in its entirety
and replaced with the following: 
 “Section 9.13 Consolidated EBITDA to Consolidated Interest Expense. The
Borrower will not permit the ratio of its Consolidated EBITDA to Consolidated Interest Expense (the “Coverage Ratio”) as of the end of any fiscal quarter of Borrower commencing with the fiscal quarter ending June 30,
2009 (calculated quarterly based upon the four most recently completed quarters, and including pro forma adjustments acceptable to the Administrative Agent following any material acquisition or Disposition) to be less than: 
  

			
	 April 1, 2009 through June 30, 2009
	 	2.50 to 1.00
		
	 July 1, 2009 through September 30, 2009
	 	2.50 to 1.00
		
	 October 1, 2009 through December 31, 2009
	 	1.70 to 1.00
		
	 January 1, 2010 through March 31, 2010
	 	1.40 to 1.00
		
	 April 1, 2010 through June 30, 2010
	 	1.65 to 1.00
		
	 July 1, 2010 through September 30, 2010
	 	1.90 to 1.00
		
	 October 1, 2010 through December 31, 2010
	 	2.20 to 1.00
		
	 January 1, 2011 and thereafter
	 	2.75 to 1.00 ”

  

 -11- 

 (u) Section 9.14 of the Credit Agreement is hereby deleted in its entirety and
replaced with the following: 
 “Section 9.14 Consolidated Funded Debt to Consolidated EBITDA. The Borrower will
not permit the ratio of its Consolidated Funded Debt to Consolidated EBITDA (the “Leverage Ratio”) as of the end of any fiscal quarter of the Borrower commencing with the fiscal quarter ending June 30, 2009 (calculated
quarterly based upon the four most recently completed quarters, and including pro forma adjustments acceptable to the Administrative Agent following any material acquisition or Disposition) to be more than: 
  

			
	April 1, 2009 through June 30, 2009	 	5.50 to 1.00
		
	July 1, 2009 through September 30, 2009	 	6.50 to 1.00
		
	October 1, 2009 through December 31, 2009	 	8.50 to 1.00
		
	January 1, 2010 through March 31, 2010	 	9.25 to 1.00
		
	April 1, 2010 through June 30, 2010	 	8.00 to 1.00
		
	July 1, 2010 through September 30, 2010	 	7.00 to 1.00
		
	October 1, 2010 through December 31, 2010	 	6.00 to 1.00
		
	January 1, 2011 and thereafter	 	5.00 to 1.00 ”

 (v) Section 9.15 of the Credit Agreement is hereby amended by deleting the
words “[Reserved]” and replacing them with the following: 
 “Section 9.15 Capital Expenditures. The Borrower will not
permit the aggregate amount of Capital Expenditures made in any fiscal year period to exceed (i) for the 9-month period ended December 31, 2009, $95 million and (ii) thereafter, $70 million, unless after giving pro forma effect to
such Capital Expenditures (x) the Senior Secured Leverage Ratio is less than or equal to 3.00 to 1.00 and (y) the Minimum Liquidity is greater than $50 million. 
 (w) Section 9.16 of the Credit Agreement is hereby amended by deleting the words “[Reserved]” and replacing them with the
following: 
 “Section 9.16 Incurrence of Debt by Appalachian Joint Venture. The Borrower will not and will not permit any
of its Consolidated Subsidiaries to (i) vote in their capacity as a member of Laurel Mountain (whether directly or through a representative on the management committee of Laurel Mountain) (a) in favor of an issuance, incurrence, guarantee
or assumption of any Debt by Laurel Mountain or (b) in favor of an amendment or modification to or waiver of the Laurel Mountain LLC Agreement or any other organizational document of Laurel Mountain if such amendment, modification or waiver
could reasonably be expected to have a Material Adverse Effect or would be materially adverse to the Lenders (including, without limitation, an amendment, modification or waiver of Section 3.2(c), Section 4.4, Article IX or Schedule 5.4(b)
of the Laurel Mountain LLC Agreement) or (ii) give their consent to any waiver or an action by Laurel Mountain or the management committee of Laurel Mountain with respect to matters described in clause (i)(a) or (b).” 
  

 -12- 

 (x) Section 9.17 of the Credit Agreement is hereby amended by deleting the word
“and” at the end of clause (i), replacing “.” with “; and” at the end of clause (j) and inserting the following clause: 
 “(k) the Appalachian Disposition; provided that to secure the prompt payment and performance in full when due, whether by lapse of time, acceleration, mandatory prepayment or otherwise, of the Obligations,
the Borrower shall pledge and assign, or cause to be pledged and assigned, to the Collateral Agent, for the benefit of the holders of the Obligations, a continuing security interest in, and a right to set-off against, any and all right, title and
interest of the Borrower or its Consolidated Subsidiaries in and to the 49% equity interest held by Borrower and/or its Consolidated Subsidiaries in Laurel Mountain.” 
 (y) Section 9.18 of the Credit Agreement is hereby amended by deleting the word “and” at the end of clause (g), deleting
the words “.” at the end of clause (h) and replacing them with “;” and inserting: 
 “(i) investments in Laurel
Mountain permitted by Section 9.03(g) of this Agreement; and 
 (j) transactions contemplated by the ATN Option Agreement between the
Borrower and Atlas Energy Resources, LLC to be entered into upon the sale of the Appalachian Business and section 8.2(b) of the Laurel Mountain LLC Agreement.” 
 (z) Section 9.22 of the Credit Agreement is hereby amended by adding the following at the end thereof: “provided,
however, that the Termination Agreement among the Borrower, APL Operating, Atlas America, Inc., Resource Energy, LLC, Viking Resources, LLC, Atlas Noble, LLC, Atlas Resources, LLC, Atlas Energy Resources, LLC and Atlas Energy Operating Company, LLC
to be entered into upon the sale of the Appalachian Business shall be permitted hereunder; provided, further that such Termination Agreement shall not be amended after the Amendment No. 2 Effective Date in a manner materially adverse to
the Lenders.” 
 Section 2. Conditions Precedent to the Effectiveness of this Amendment No. 2. 
 (a) This Amendment No. 2 shall become effective as of the date hereof (the “Amendment No. 2 Effective Date”) when, and only
when, each of the following conditions precedent shall have been (or is or will be substantially concurrently therewith) satisfied or waived by the Administrative Agent: 
 (i) The Administrative Agent shall have received counterparts of this Amendment No. 2, duly executed by (1) the Borrower,
(2) the Administrative Agent and (3) the Required Lenders; 
 (ii) The Administrative Agent shall have received an
opinion of legal counsel for the Borrower, dated the Amendment No. 2 Effective Date and addressed to the Administrative Agent and the Lenders, which opinion shall provide, among other things, that the execution and delivery of the Amendment by
the Borrower and the consummation of the transactions contemplated thereby will not violate the corporate instruments of the Borrower or the terms of the Loan Documents, that the Credit Agreement may be amended as provided in this Amendment
No. 2 with consent of the Required Lenders in accordance with Section 12.04 and shall otherwise be in form and substance acceptable to the Administrative Agent and the Lenders; 
  

 -13- 

 (iii) The Borrower shall have paid (1) the Administrative Agent the fees in the
amounts previously agreed to be received on or prior to the Amendment No. 2 Effective Date and (2) all reasonable out-of-pocket costs and expenses of the Administrative Agent associated with real estate collateral matters under the Loan
Documents, including this Amendment No. 2 and the preparation, reproduction, execution, delivery, administration, and enforcement of this Amendment No. 2 (including, without limitation, the reasonable fees and out-of-pocket expenses of
Cahill Gordon & Reindel LLP, counsel for the Administrative Agent, with respect thereto) 
 (iv) The Borrower shall
have paid a fee to (i) each Lender who consents to this Amendment No. 2 on or prior to 12:00pm, Charlotte, NC time, on May 27, 2009 in an amount equal to 50 basis points of such consenting Lender’s Term Loans and used and unused
Revolver Commitments on the Amendment No. 2 Effective Date; and 
 (v) Each Guarantor shall have delivered to the
Administrative Agent, with respect to each Mortgaged Property, (i) an executed amendment to each Mortgage (as defined in Section 1(a)(v) of this Amendment No. 2) relating to such Mortgaged Property (the “Mortgage
Amendments”), (ii) an opinion of counsel to the Borrower (including local counsel) with respect to the due authorization and execution of the Mortgage Amendments and enforceability of the Mortgage Amendments and Mortgages as amended
(in each case i form and substance reasonably requested by the Administrative Agent), (iii) completed “Life of Loan” Federal Emergency Management Agency Standard Flood Hazard Determinations (“Flood Determinations”)
with respect to all Pipeline Properties identified as being improved properties on that certain Officer’s Certificate executed by Borrower dated May 1, 2009 (together with a notice signed by the applicable Guarantor which is the mortgagor
under the related Mortgage for any Pipeline Property located within a special flood hazard area as determined by the Flood Determinations), evidence of flood insurance with respect to any such Pipeline Properties so located within a special flood
hazard area, and (iv) such other documents which shall reasonably be requested by the Administrative Agent in connection with such Mortgage Amendments (in each case in form and substance reasonably requested by the Administrative Agent).

 Section 3. Representations and Warranties 
 On and as of the Amendment No. 2 Effective Date, after giving effect to this Amendment No. 2, the Borrower hereby represents and warrants to the Administrative Agent and each Lender as follows: 

(a) this Amendment No. 2 has been duly authorized, executed and delivered by the Borrower and constitutes the legal, valid and
binding obligation of the Borrower enforceable against the Borrower in accordance with its terms and the Credit Agreement, as amended by this Amendment No. 2, constitutes the legal, valid and binding obligation of the Borrower enforceable
against the Borrower in accordance with its terms; 
 (b) No Default or Event of Default under the Credit Agreement exists or
is continuing or would exist immediately after giving effect to this Amendment No. 2. 
 (c) No consent, approval,
authorization or offer of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by such Person of this Amendment No. 2.

  

 -14- 

 (d) The representations and warranties set forth in Article VII of the Credit Agreement
are true and correct in all material respects as of the date hereof (except for those which expressly relate to an earlier date). 
 Section 4. Reference to and Effect on the Loan Documents 
 (a) As of the Amendment No. 2 Effective Date,
each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the other Loan Documents to the Credit Agreement (including, without
limitation, by means of words like “thereunder,” “thereof” and words of like import), shall mean and be a reference to the Credit Agreement as amended hereby, and this Amendment No. 2 and the Credit Agreement shall be read
together and construed as a single instrument. Each of the table of contents and lists of Exhibits and Schedules of the Credit Agreement shall be amended to reflect the changes made in this Amendment No. 2 as of the Amendment No. 2
Effective Date. 
 (b) As of the Amendment No. 2 Effective Date, Borrower hereby acknowledges that it has received and reviewed a copy
of the Credit Agreement and acknowledges and agrees to be bound by all covenants, agreements and acknowledgments in the Credit Agreement and any other Loan Document and to perform all obligations and duties required of it by the Credit Agreement.

 (c) Except as expressly amended hereby or specifically waived above, all of the terms and provisions of the Credit Agreement and all other
Loan Documents are and shall remain in full force and effect and are hereby ratified and confirmed. 
 (d) The execution, delivery and
effectiveness of this Amendment No. 2 shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders, the Borrower or the Administrative Agent under any of the Loan Documents, nor constitute a
waiver or amendment of any other provision of any of the Loan Documents or for any purpose except as expressly set forth herein. 
 (e) This
Amendment No. 2 shall constitute a Loan Document under the terms of the Credit Agreement. 
 Section 5. Acknowledgement of
Guarantors 
 The Guarantors acknowledge and consent to all terms and conditions of this Amendment No. 2 and agree that this
Amendment No. 2 and all documents executed in connection herewith do not operate to reduce or discharge the Guarantors’ obligations under the Loan Documents. 
 Section 6. Confirmation of Security Documents 
 The Borrower hereby confirms and ratifies
all of its obligations under the Loan Documents to which it is a party. By its execution on the signature lines provided below, each of the Loan Parties hereby confirms and ratifies all of its obligations and the Liens granted by it under the
Security Instruments to which it is a party, confirms that the Security Instruments continue to grant valid Liens on the Collateral to the Collateral Agent for the benefit of the Secured Parties securing the Obligations, represents and warrants that
the representations and warranties set forth in such Security Instruments are complete and correct on the date hereof as if made on and as of such date and confirms that all references in such Security Instruments to the “Credit Agreement”
(or words of similar import) refer to the Credit Agreement as amended hereby without impairing any such obligations or Liens in any respect. 
  

 -15- 

 Section 7. Execution in Counterparts 
 This Amendment No. 2 may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are
attached to the same document. Delivery of an executed counterpart by telecopy or other electronic transmission (i.e. “pdf” or “tif” document) shall be effective as delivery of a manually executed counterpart of this Amendment
No. 2. 
 Section 8. Lender Signatures 
 Each Lender that signs a signature page to this Amendment No. 2 shall be deemed to have approved this Amendment No. 2 and shall be further deemed for the purposes of the Loan Documents to have approved this
Amendment No. 2. Each Lender signatory to this Amendment No. 2 agrees that such Lender shall not be entitled to receive a copy of any other Lender’s signature page to this Amendment No. 2, but agrees that a copy of such signature
page may be delivered to the Borrower and the Administrative Agent. 
 Section 9. Governing Law 
 This Amendment No. 2 shall be governed by, and construed in accordance with, the laws of the State of New York without regard to principles of
conflicts of law to the extent that the application of the laws of another jurisdiction will be required thereby. 
 Section 10. Section Titles 
 The section titles contained in this Amendment No. 2 are and shall be without
substantive meaning or content of any kind whatsoever and are not a part of the agreement between the parties hereto, except when used to reference a section. Any reference to the number of a clause, sub clause or subsection of any Loan Document
immediately followed by a reference in parenthesis to the title of the section of such Loan Document containing such clause, sub clause or subsection is a reference to such clause, sub clause or subsection and not to the entire section;
provided, however, that, in case of direct conflict between the reference to the title and the reference to the number of such section, the reference to the title shall govern absent manifest error. If any reference to the number of a
section (but not to any clause, sub clause or subsection thereof) of any Loan Document is followed immediately by a reference in parenthesis to the title of a section of any Loan Document, the title reference shall govern in case of direct conflict
absent manifest error. 
 Section 11. Notices 
 All communications and notices hereunder shall be given as provided in the Credit Agreement. 
 Section 12. Severability 
 The fact that any term or provision of this Amendment No. 2 is held invalid, illegal or unenforceable as to any person in any situation in any jurisdiction shall not affect the validity, enforceability or legality of the remaining
terms or provisions hereof or the validity, enforceability or legality of such offending term or provision in any other situation or jurisdiction or as applied to any person. 
  

 -16- 

 Section 13. Successors 
 The terms of this Amendment No. 2 shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and
assigns. 
 Section 14. Waiver of Jury Trial 
 EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING WITH RESPECT TO THIS AMENDMENT NO. 2 OR ANY OTHER LOAN DOCUMENT. 
 [Signature pages follow.] 
  

 -17- 

 IN WITNESS WHEREOF, the parties hereto have caused
this Amendment No. 2 to be executed by their respective officers thereunto duly authorized, as of the date first written above. 
  

			
	ATLAS PIPELINE PARTNERS, L.P.
		
	By:	 	Atlas Pipeline Partners, GP, LLC, its General Partner
		
	By:	 	  

	Name:	 	
	Title:	 	

			
	GUARANTORS:
	
	ATLAS PIPELINE OPERATING PARTNERSHIP, L.P.
		
	By:	 	Atlas Pipeline Partners GP, LLC, its general partner
		
	By:	 	  

		 	Matthew A. Jones
		 	Chief Financial Officer
	
	 ATLAS PIPELINE OHIO, LLC
 ATLAS PIPELINE
MID-CONTINENT, LLC
 ATLAS PIPELINE PENNSYLVANIA, LLC
 ATLAS
PIPELINE NEW YORK, LLC
 ATLAS PIPELINE TENNESSEE, LLC
 APL LAUREL
MOUNTAIN, LLC

		
	By:	 	Atlas Pipeline Operating Partnership, L.P., its sole member
		
	By:	 	Atlas Pipeline Partners GP, LLC, its general partner
		
	By:	 	  

		 	Matthew A. Jones
		 	Chief Financial Officer

			
	ATLAS PIPELINE MCKEAN, LLC
		
	By:	 	Atlas Pipeline Pennsylvania, LLC
		
	By:	 	Atlas Pipeline Operating Partnership, L.P., its sole member
		
	By:	 	Atlas Pipeline Partners GP, LLC, its general partner
		
	By:	 	  

		 	Matthew A. Jones
		 	Chief Financial Officer
	
	 ATLAS MIDKIFF, LLC
 ATLAS CHANEY DELL, LLC

 ELK CITY OKLAHOMA GP, LLC
 SADDLEBACK PIPELINE, LLC

NOARK ENERGY SERVICES, LLC

		
	By:	 	Atlas Pipeline Mid-Continent, LLC, its sole member
		
	By:	 	Atlas Pipeline Operating Partnership, L.P., its sole member
		
	By:	 	Atlas Pipeline Partners GP, LLC, its general partner
		
	By:	 	  

		 	Matthew A. Jones
		 	Chief Financial Officer

			
	ELK CITY OKLAHOMA PIPELINE, L.P.
		
	By:	 	Elk City Oklahoma GP, LLC, its general partner
		
	By:	 	Atlas Pipeline Mid-Continent, LLC, its sole member
		
	By:	 	Atlas Pipeline Operating Partnership, L.P., its sole member
		
	By:	 	Atlas Pipeline Partners GP, LLC, its general partner
		
	By:	 	  

		 	Matthew A. Jones
		 	Chief Financial Officer
	
	ECOP GAS COMPANY, LLC
		
	By:	 	Elk City Oklahoma Pipeline, L.P.
		
	By:	 	Elk City Oklahoma GP, LLC, its general partner
		
	By:	 	Atlas Pipeline Mid-Continent, LLC, its sole member
		
	By:	 	Atlas Pipeline Operating Partnership, L.P., its sole member
		
	By:	 	Atlas Pipeline Partners GP, LLC, its general partner
		
	By:	 	  

		 	Matthew A. Jones
		 	Chief Financial Officer

			
	WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

 We hereby agree to all of the amendments contained in the Amendment No. 2 on the Amendment No. 2 Effective
Date. 
  

			
	[                                        
], as a
	
	[Term Loan] [Revolver Loan] Lender
		
	By:	 	  

	Name:	 	
	Title:

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