Document:

SolarWinds, Inc. Bonus Plan

 Exhibit 10.1 

SOLARWINDS, INC. 

BONUS PLAN 

Adopted: May 21, 2010 

1. Purposes of the Plan. The Plan is intended to increase shareholder value and the success of the Company by motivating Employees
to (a) perform to the best of their abilities, and (b) achieve the Company’s objectives. 
 2.
Definitions. 
 (a) “Affiliate” means any corporation or other entity (including, but not limited to,
partnerships and joint ventures) controlled by the Company. 
 (b) “Actual Award” means as to any Performance
Period, the actual award (if any) payable to a Participant for the Performance Period, subject to the Committee’s authority under Section 3(d) to modify the award. 

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

(d) “Bonus Pool” means the pool of funds available for distribution to Participants. Subject to the terms of the Plan,
the Committee establishes the Bonus Pool for each Performance Period. 
 (e) “Code” means the Internal Revenue
Code of 1986, as amended. Reference to a specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation promulgated thereunder, and any comparable provision of any future legislation or regulation
amending, supplementing or superseding such section or regulation. 
 (f) “Committee” means the committee
appointed by the Board (pursuant to Section 5) to administer the Plan. Unless and until the Board otherwise determines, the Board’s Compensation Committee will administer the Plan. 

(g) “Company” means SolarWinds, Inc., or any successor thereto. 

(h) “Disability” means a permanent and total disability determined in accordance with uniform and nondiscriminatory
standards adopted by the Committee from time to time. 
 (i) “Employee” means any executive, officer, or key
employee of the Company or of an Affiliate, whether such individual is so employed at the time the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 

(j) “Participant” means as to any Performance Period, an Employee who has been selected by the Committee for
participation in the Plan for that Performance Period. 
  

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 (k) “Performance Period” means the period of time for the measurement of
the performance criteria that must be met to receive an Actual Award, as determined by the Committee in its sole discretion. A Performance Period may be divided into one or more shorter periods if, for example, but not by way of limitation, the
Committee desires to measure some performance criteria over 12 months and other criteria over 3 months. 
 (l)
“Plan” means this Bonus Plan, as set forth in this instrument and as hereafter amended from time to time. 

(m) “Target Award” means the target award, at 100% performance achievement, payable under the Plan to a Participant for
the Performance Period, as determined by the Committee in accordance with Section 3(b). 
 (n) “Termination of
Service” means a cessation of the employee-employer relationship between an Employee and the Company or an Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability,
retirement, or the disaffiliation of an Affiliate, but excluding any such termination where there is a simultaneous reemployment by the Company or an Affiliate. 

3. Selection of Participants and Determination of Awards. 

(a) Selection of Participants. The Committee, in its sole discretion, will select the Employees who will be Participants for any
Performance Period. Participation in the Plan is in the sole discretion of the Committee, on a Performance Period by Performance Period basis. Accordingly, an Employee who is a Participant for a given Performance Period in no way is guaranteed or
assured of being selected for participation in any subsequent Performance Period or Periods. 
 (b) Determination of Target
Awards. The Committee, in its sole discretion, will establish a Target Award for each Participant, which generally will be a percentage of a Participant’s average annual base salary for the Performance Period. 

(c) Bonus Pool. Each Performance Period, the Committee, in its sole discretion, will establish a Bonus Pool, which pool may be
established before, during or after the applicable Performance Period. Actual Awards will be paid from the Bonus Pool. 
 (d)
Discretion to Modify Awards. Notwithstanding any contrary provision of the Plan, the Committee may, in its sole discretion and at any time, (i) increase, reduce or eliminate a Participant’s Actual Award, and/or (ii) increase,
reduce or eliminate the amount allocated to the Bonus Pool. The Actual Award may be below, at or above the Target Award, in the Committee’s discretion. The Committee may determine the amount of any reduction on the basis of such factors as it
deems relevant, and will not be required to establish any allocation or weighting with respect to the factors it considers. 

(e) Discretion to Determine Criteria. Notwithstanding any contrary provision of the Plan, the Committee will, in its sole
discretion, determine the performance goals applicable to any Target Award which requirement may include, without limitation, (i) attainment of research and 

 

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development milestones, (ii) bookings, (iii) business divestitures and acquisitions, (iv) cash flow, (v) cash position, (vi) contract awards or backlog,
(vii) customer renewals, (viii) customer retention rates from an acquired company, business unit or division, (ix) earnings (which may include earnings before interest and taxes, earnings before taxes and net earnings),
(x) earnings per share, (xi) expenses, (xii) gross margin, (xiii) growth in stockholder value relative to the moving average of the S&P 500 Index or another index, (xiv) internal rate of return, (xv) market share,
(xvi) net income, (xvii) net profit, (xviii) net sales, (xix) new product development, (xx) new product invention or innovation, (xxi) number of customers, (xxii) operating cash flow, (xxiii) operating
expenses, (xxiv) operating income, (xxv) operating margin, (xxvi) overhead or other expense reduction, (xxvii) product defect measures, (xxviii) product release timelines, (xxix) productivity, (xxx) profit,
(xxxi) return on assets, (xxxii) return on capital, (xxxiii) return on equity, (xxxiv) return on investment, (xxxv) return on sales, (xxxvi) revenue, (xxxvii) revenue growth, (xxxviii) sales results,
(xxxix) sales growth, (xl) stock price, (xli) time to market, (xlii) total stockholder return, (xliii) working capital and individual objectives such as peer reviews or other subjective or objective criteria. As determined
by the Committee, the performance goals may be based on GAAP or Non-GAAP results and any actual results may be adjusted by the Committee for one-time items or unbudgeted or unexpected items when determining whether the performance goals have been
met. The goals may be on the basis of any factors the Committee determines relevant, and may be on an individual, divisional, business unit or Company-wide basis. The performance goals may differ from Participant to Participant and from award to
award. Failure to meet the goals will result in a failure to earn the Target Award, except as provided in Section 3(d). 

4. Payment of Awards. 

(a) Right to Receive Payment. Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan
will be construed to create a trust or to establish or evidence any Participant’s claim of any right other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. 

(b) Timing of Payment. Payment of each Actual Award shall be made as soon as practicable after the end of the
Performance Period during which the Actual Award was earned and after the Actual Award is approved by the Committee, but in no event later than the fifteenth
(15th) day of the third
(3rd) month of the Fiscal Year following the date the
Participant’s Actual Award has been earned and is no longer subject to a substantial risk of forfeiture. Unless otherwise determined by the Committee, a Participant must be employed by the Company or any Affiliate on the last day of the
Performance Period to receive a payment under the Plan. 
 It is the intent that this Plan comply with the requirements of Code
Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to so comply. 

(c) Form of Payment. Each Actual Award will be paid in cash (or its equivalent) in a single lump sum. 

(d) Payment in the Event of Death or Disability. If a Participant dies or becomes Disabled prior to the payment of an Actual Award
earned by him or her prior to death or Disability 
  

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for a prior Performance Period, the Actual Award will be paid to his or her estate or to the Participant, as the case may be, subject to the Committee’s discretion to reduce or eliminate any
Actual Award otherwise payable. 
 5. Plan Administration. 

(a) Committee is the Administrator. The Plan will be administered by the Committee. The Committee will consist of not less than
two (2) members of the Board. The members of the Committee will be appointed from time to time by, and serve at the pleasure of, the Board. 

(b) Committee Authority. It will be the duty of the Committee to administer the Plan in accordance with the Plan’s
provisions. The Committee will have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (i) determine which Employees will be granted awards,
(ii) prescribe the terms and conditions of awards, (iii) interpret the Plan and the awards, (iv) adopt such procedures and subplans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign
nationals or employed outside of the United States, (v) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and (vi) interpret, amend or revoke any such rules. 

(c) Decisions Binding. All determinations and decisions made by the Committee, the Board, and any delegate of the Committee
pursuant to the provisions of the Plan will be final, conclusive, and binding on all persons, and will be given the maximum deference permitted by law. 

(d) Delegation by Committee. The Committee, in its sole discretion and on such terms and conditions as it may provide, may
delegate all or part of its authority and powers under the Plan to one or more directors and/or officers of the Company. 
 (e)
Indemnification. Each person who is or will have been a member of the Committee will be indemnified and held harmless by the Company against and from (i) any loss, cost, liability, or expense that may be imposed upon or reasonably
incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan or any award,
and (ii) from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or her, provided he
or she will give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification will not be exclusive of any other
rights of indemnification to which such persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or under any power that the Company may have to indemnify them or hold
them harmless. 
  

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 6. General Provisions. 

(a) Tax Withholding. The Company will withhold all applicable taxes from any Actual Award, including any federal, state and local
taxes (including, but not limited to, the Participant’s FICA and SDI obligations). 
 (b) No Effect on Employment or
Service. Nothing in the Plan will interfere with or limit in any way the right of the Company to terminate any Participant’s employment or service at any time, with or without cause. For purposes of the Plan, transfer of employment of a
Participant between the Company and any one of its Affiliates (or between Affiliates) will not be deemed a Termination of Service. Employment with the Company and its Affiliates is on an at-will basis only. The Company expressly reserves the right,
which may be exercised at any time and without regard to when during a Performance Period such exercise occurs, to terminate any individual’s employment with or without cause, and to treat him or her without regard to the effect that such
treatment might have upon him or her as a Participant. 
 (c) Participation. No Employee will have the right to be
selected to receive an award under this Plan, or, having been so selected, to be selected to receive a future award. 
 (d)
Successors. All obligations of the Company under the Plan, with respect to awards granted hereunder, will be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase,
merger, consolidation, or otherwise, of all or substantially all of the business or assets of the Company. 
 (e) Beneficiary
Designations. If permitted by the Committee, a Participant under the Plan may name a beneficiary or beneficiaries to whom any vested but unpaid award will be paid in the event of the Participant’s death. Each such designation will revoke
all prior designations by the Participant and will be effective only if given in a form and manner acceptable to the Committee. In the absence of any such designation, any vested benefits remaining unpaid at the Participant’s death will be paid
to the Participant’s estate. 
 (f) Nontransferability of Awards. No award granted under the Plan may be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution, or to the limited extent provided in Section 6(e). All rights with respect to an award granted to a Participant
will be available during his or her lifetime only to the Participant. 
 7. Amendment, Termination, and Duration.

 (a) Amendment, Suspension, or Termination. The Board, in its sole discretion, may amend or terminate the Plan, or any
part thereof, at any time and for any reason. The amendment, suspension or termination of the Plan will not, without the consent of the Participant, alter or impair any rights or obligations under any Actual Award theretofore earned by such
Participant. No award may be granted during any period of suspension or after termination of the Plan. 
  

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 (b) Duration of Plan. The Plan will commence on the date specified herein, and
subject to Section 7(a) (regarding the Board’s right to amend or terminate the Plan), will remain in effect thereafter. 

8. Legal Construction. 

(a) Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also will include the
feminine; the plural will include the singular and the singular will include the plural. 
 (b) Severability. In the
event any provision of the Plan will be held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provision had not
been included. 
 (c) Requirements of Law. The granting of awards under the Plan will be subject to all applicable laws,
rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

(d) Governing Law. The Plan and all awards will be construed in accordance with and governed by the laws of the State of Texas,
but without regard to its conflict of law provisions. 
 (e) Bonus Plan. The Plan is intended to be a “bonus
program” as defined under U.S. Department of Labor regulation 2510.3-2(c) and will be construed and administered in accordance with such intention. 

(f) Captions. Captions are provided herein for convenience only, and will not serve as a basis for interpretation or construction
of the Plan. 
  

 -6-Form of Performance Share Award Agreement for key employees

 Exhibit 10.1 

Texas Petrochemicals Inc. 

2009 Long-Term Incentive Plan 

Performance Share Award Agreement 

AWARD AGREEMENT (the “Agreement”), effective as of May 24, 2010 (the “Grant Date”) between TPC Group Inc.
(formerly Texas Petrochemicals Inc.) (the “Company”), and                          (the “Grantee”).

  

	1.	Grant of Performance Shares 

The Company hereby grants to the Grantee a target award of
                     units (the “Performance Shares”), each unit representing the right to receive one share of Common Stock, in accordance
with the Texas Petrochemicals Inc. 2009 Long-Term Incentive Plan (the “Plan”). 
  

	2.	Relationship to the Plan 

This Agreement is subject to the terms and conditions set forth in the Plan, any rules and regulations adopted by Compensation Committee
of the Company’s Board of Directors (the “Committee”) from time to time. Any terms used in this Agreement and not defined herein have the meanings set forth in the Plan. In the event of an inconsistency between the terms of the Plan
and this Agreement, the terms of the Plan will control. 
  

	3.	Performance Period and Performance Goal 

For purposes of determining whether, and to what extent, the Performance Shares are earned, the performance period shall be from
January 1, 2010 through December 31, 2012 (the “Performance Period”), and the performance goal (the “Performance Goal”) is set forth in Exhibit A attached hereto. 

 

	4.	Non-transferability 

 The
Performance Shares may not be sold, transferred, assigned, pledged, exchanged, hypothecated, encumbered or otherwise disposed of. Until the date on which the Grantee receives a distribution of Common Stock in respect of any vested Performance
Shares, the Performance Shares will be evidenced by credit to a book entry account (“Account”) maintained by the Company for the Grantee’s benefit. Upon the occurrence of an event set forth in Section 15(b) of the Plan, the
number of Performance Shares credited to the Account shall, as determined by the Committee, be equitably and appropriately adjusted as provided in that Section. 
  

	5.	No Shareholder Rights 

The Grantee shall not have any rights of a shareholder of the Company with respect to the Performance Shares, including voting and the
right to receive dividends. In the event of a Special Dividend, the Committee shall either (i) adjust (increase) the number of Performance Shares credited to the Grantee’s Account pursuant to Section 15 of the Plan as the Board deems
necessary to preserve the value of the Performance Share Award or (ii) credit the Grantee’s Account with a dollar amount (the “Special Dividend Amount”) equal to the cash distribution that would have been paid to the Grantee if
the Grantee owned that number of shares of Common Stock equal to the number of Performance Shares credited to the Account. For purposes of this Section, “Special Dividend” means (i) a cash distribution with respect to a share of
Common Stock such that the aggregate of all such distributions (A) when combined with any other cash distributions to shareholders previously made during the fiscal year exceeds the adjusted net

 
income of the Company and its Subsidiaries for the preceding fiscal year or (B) when combined with any other cash distributions to shareholders previously made during the fiscal year or
during the three prior fiscal years exceeds the adjusted net income of the Company and its Subsidiaries for the four preceding years, or (ii) a non-cash distribution the value of which when combined with the value of any other non-cash
distribution to shareholders previously made during the fiscal year exceeds 10% of the value of the total assets of the Company and its Subsidiaries. The definition of “Special Dividend” shall be applied in accordance with the regulations
and guidance under PBGC Regulation § 4043.31(a). For purposes of this Agreement (other than Section 1 or as specifically provided to the contrary herein), all references to Performance Shares shall be deemed to include the Special Dividend
Amount. 
  

	6.	Vesting 

 Unless vested on
an earlier date as provided in Section 7 hereof, the Performance Share Award will vest as of the date the Committee notifies the Grantee of the number of Performance Shares that will be delivered to the Grantee as described in Section 8,
provided that the Grantee has been continuously employed by the Company from the Grant Date through such date. 
  

	7.	Forfeiture; Change in Control 

  

	 	(a)	 Forfeiture of Performance Shares. If the Grantee’s employment is terminated prior to the date the Performance Shares vest pursuant to
Section 6, the Performance Shares shall be forfeited immediately, except as provided in this section. In the event of the Grantee’s death or Disability while employed by the Company and after at least 50% of the Performance Period has
elapsed, the Performance Shares that will become vested shall be equal to (i) the target number of Performance Shares times (ii) a fraction, the numerator of which is the number of whole months elapsed from the beginning of the Performance Period to
the date of the Grantee’s death or Disability, and the denominator of which is the number of months in the Performance Period. For purposes of this Agreement “Disability” shall mean the Grantee’s becoming disabled within
the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), or as otherwise determined by the Committee in its discretion. The Committee may require such proof of Disability as the Committee in its
sole and absolute discretion deems appropriate and the Committee’s determination as to whether the Grantee is Disabled shall be final and binding. 

 

	 	(b)	Change in Control. Notwithstanding the provisions of Section 6 hereof, in the event of a Change in Control that occurs on or before December 31, 2010, the
Performance Shares that will become vested, provided the Grantee is employed by the Company on the date of the occurrence of the Change in Control, will be equal to (i) the target number of Performance Shares times (ii) a fraction, the numerator of
which is the number of whole months elapsed from the beginning of the Performance Period to the date of the Change in Control, and the denominator of which is the number of months in the Performance Period. In the event of a Change in Control after
December 31, 2010, the number of Performance Shares that will become vested, provided the Grantee is employed by the Company on the date of the occurrence of the Change in Control, will be equal to (i) the number of Performance Shares determined
pursuant to Exhibit A based on the extent to which the Performance Goal has been achieved as of December 31 of the calendar year prior to the date of the occurrence of the Change in Control times (ii) a fraction, the numerator of which is the
number of whole months elapsed from the beginning of the Performance Period to the date of the Change in Control, and the denominator of which is the number of months in the Performance Period. 

 

	 	(c)	 Change in Control Definition. For purposes of this Section “Change in Control” shall mean the date of the first to occur of any of the
following: (i) any “person” (as such term is defined in Section 3(a)(9) of the Exchange Act and is used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) or group of persons acting together (within the meaning of
Section 13(d)(3) of the Exchange Act) becomes the direct or indirect beneficial owner of 50% or more of the Company’s voting stock; (ii) during any twenty-four (24) month period, individuals who, as of the beginning of such
period, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the beginning of such period

  

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whose election or nomination for election was approved by a vote of at least a majority of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy
statement of the Company in which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director (provided, however, that no individual initially elected or nominated as a director of the
Company as a result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board shall be deemed to be an Incumbent
Director); (iii) the consummation of the merger, consolidation, or other reorganization of the Company with or into one or more entities, as a result of which outstanding securities with less than 50% of the voting power of the surviving or
resulting entity (or, if applicable, the ultimate parent company that owns directly or indirectly all of the voting securities of the surviving or resulting entity) are owned by stockholders of the Company immediately prior to such merger,
consolidation or reorganization in substantially the same proportion as their ownership of the voting power of the Company’s outstanding securities immediately prior to such transaction; or (iv) the sale of the Company’s assets having
a total gross fair market value of at least 50% of all of the Company’s assets immediately before such sale. 

  

	 	(d)	Other Agreement or Plan. The provisions of this Section shall be superseded by the specific provisions, if any, of a written employment or severance agreement
between the Grantee and the Company or a severance plan of the Company covering the Grantee. 

  

	8.	Settlement of Performance Shares 

  

	 	(a)	After the end of the Performance Period, the Committee shall determine the extent to which the Performance Goal has been achieved. Upon completing its determination of
the level at which the Performance Goal set forth has been achieved, the Committee will notify the Grantee of the number of Performance Shares under this Performance Share Award that will be issued to the Grantee. Payment of Performance Shares shall
be made in the form of Common Stock (except that payment with respect to the Special Dividend Amount shall be paid in cash) as soon as practicable, but in no case later than the March 15th following the year in which vesting occurs (the
“Payment Date”). The Grantee must be employed with the Company on the Payment Date to receive payment of this Performance Share Award. 

  

	 	(b)	Notwithstanding Section 8(a) hereof, if the Grantee vests in Performance Shares pursuant to Section 7(b), the specified number of Performance Shares shall be
paid to the Grantee no later than the date that is 30 days after the date of accelerated vesting pursuant to Section 7(b). 

  

	9.	Tax Withholding 

 At the
time of vesting of Performance Shares or the delivery of shares of Common Stock attributable to Performance Shares (or the delivery of cash attributable to the Special Dividend Amount), the amount of all federal, state and other governmental
withholding tax requirements imposed upon the Company with respect to the vesting of such Performance Shares or the delivery of such shares of Common Stock attributable to Performance Shares (and cash attributable to the Special Dividend
Amount)shall be remitted to the Company or provisions to pay such withholding requirements shall have been made to the satisfaction of the Committee. At the discretion of the Company, the applicable taxes may be withheld in kind from the shares of
Common Stock otherwise deliverable to the Grantee on the payment of the Performance Shares. The Committee may make such provisions as it may deem appropriate for the withholding of any taxes which it determines is required in connection with this
Agreement. 
  

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	10.	Beneficiary 

 The Grantee
may designate a beneficiary to receive the Performance Shares that become vested due to the Grantee’s death, and the Grantee may change the beneficiary designation from time to time. Beneficiary designations must be duly executed using the
proper form designated by the Committee and timely filed with the Company’s General Counsel. If the Grantee fails to designate a beneficiary, any Performance Shares that become vested due to the Grantee’s death will be transferred to the
executor or administrator of the Grantee’s estate. 
  

	11.	Clawback 

 If the
Company’s consolidated financial statements for any of the years during which the Performance Shares are unvested are required to be restated and the Committee determines that any fraud, negligence or intentional misconduct by the Grantee was a
significant contributing factor to such restatement, then the Committee may take such action as it deems necessary to remedy the misconduct, which remedies may include the cancellation of Performance Shares and repayment (in cash or by transfer of
Common Stock) of any Common Stock (or cash) previously delivered in settlement of the Performance Shares, without regard to any income taxes payable by the Grantee with respect to the settlement of the Performance Shares. The Committee shall have
absolute discretion to make determinations under this Section, and its determination shall be final, conclusive and binding. 
  

	12.	Forfeiture for Detrimental Activity 

In the event that the Grantee engages in any of the detrimental activities set forth on Exhibit B then (i) the Performance
Shares shall be forfeited effective as of the date on which the Grantee enters into such activity, and (ii) the Grantee shall within ten (10) days after written notice from the Company return to the Company any Common Stock (or cash) paid
by the Company to the Grantee with respect to the Performance Shares granted hereunder and, if the Grantee has previously sold all or a portion of the Common Stock paid to the Grantee by the Company, the Grantee shall pay the proceeds of such sale
to the Company. 
  

	13.	Code Section 409A Compliance 

It is intended that this Performance Share Award not be subject to the requirements of Section 409A of the Code pursuant to the
short-term deferral exception in Treasury Regulation § 1.409A-1(b)(4), and this Performance Share Award shall be interpreted and administered accordingly. 
  

	14.	Notices 

 All notices
required or permitted under this Agreement shall be in writing and shall be delivered personally or by mailing by registered or certified mail, postage prepaid, to the other party. Notice by mail shall be deemed delivered at the time and on the date
the same is postmarked. 
 Notices to the Company should be addressed to: 

TPC Group Inc. 

5151 San Felipe, Suite 800 

Houston, Texas 77056 

Attention: General Counsel 

Notices to the Grantee should be addressed to the Grantee at the Grantee’s address as it appears on the Company’s records. The
Company or the Grantee may by writing to the other party, designate a different address for notices. 
  

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 If the receiving party consents in advance, notices may be transmitted and received via
telecopy or via such other electronic transmission mechanism as may be available to the parties. Such notices shall be deemed delivered when received. 
  

	15.	Headings 

 The headings in
this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 
  

	16.	Successors and Assigns 

This Agreement shall inure to the benefit of and be binding upon the heirs, legatees, distributees, executors and administrators of the
Grantee and the successors and assigns of the Company. 
  

	17.	Governing Law 

 This
Agreement shall be governed by, and interpreted in accordance with, the laws of the State of Delaware, other than its conflict of laws principles. 
  

	18.	Agreement Not a Contract 

This Agreement (and the grant of Performance Shares) is not an employment or service contract, and nothing in this Agreement shall be
deemed to create in any way whatsoever any obligation on Grantee’s part to continue as an employee, or of the Company to continue Grantee’s service as an employee. 

 

	19.	Entire Agreement; Modification 

This Agreement contains the entire agreement between the parties with respect to the subject matter hereof, and may not be modified except
as provided in the Plan or in a written document executed by both parties. 
 IN WITNESS WHEREOF, this Agreement has been
executed by the Company and the Grantee, effective as of the date on the first page of this Agreement. 
  

															
		 		 		 		 	TPC GROUP INC.	 		 	
						
	By:	 	  
	 		 	By:	 	  
	 	
		 	Grantee	 		 		 	Title:	 	  
	 		 	
								
		 	  
	 		 		 		 		 		 	
		 	Date	 		 		 		 		 		 	

  

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 Exhibit A 

Performance Goal 
  

	1.	Performance Goal. The Performance Goal with respect to the January 1, 2010 through December 31, 2012 Performance Period is Return on Invested Capital
for calendar years 2010, 2011 and 2012 as compared to the Company’s Weighted Average Cost of Capital averaged for calendar years 2010, 2011 and 2012 as determined using the Company’s audited financials for such calendar years. “Return
on Invested Capital” or “ROIC” for each calendar year will be calculated by the Company as follows: 

[(Earnings Before Interest and Taxes)*(1-Marginal Tax Rate)] divided by [Shareholders’ Equity + (Long Term Debt - Cash)] 

The Company’s “Weighted Average Cost of Capital” for each calendar year will be calculated by the Company as follows:

 [(Cost of Debt * (1- Marginal Tax Rate) * (Net Debt / Invested Capital)] plus [Cost of Equity * (Shareholders’ Equity /
Invested Capital)] minus [Risk Free Rate * (Cash / Invested Capital)] 
 Where, 

Cost of Debt = Risk Free Rate + Average Margin on Total Debt 

Cost of Equity = Risk Free Rate + 9% 

Invested Capital = Net Debt + Shareholders’ Equity 

Risk Free Rate = 10-year Swap Rate for US Dollars 

Net Debt = Total Debt - Cash 
  

	2.	Calculation of Performance Shares Earned. Based on the level of achievement of ROIC, the following chart indicates the percentage of the target Performance
Shares specified in the Performance Share Award which will become vested: 

  

							
	 	  	Threshold
Performance	 	Target Performance	 	Maximum
Performance
	 ROIC
	  	Three-Year Average
Weighted Average
Cost of Capital	 	Three-Year Average
Weighted Average
Cost of Capital + 1%	 	Three-Year Average
Weighted Average
Cost of Capital + 2%
	Percentage of Target Performance Shares Becoming Vested	  	50%	 	100%	 	200%

 The percentage of
target Performance Shares becoming vested between Threshold Performance and Target Performance, or between Target Performance and Maximum Performance, shall be determined by linear interpolation between the values listed in the chart above. For
purposes of clarity, if the Threshold Performance condition is not satisfied, the percentage of target Performance Shares becoming vested shall be 0%. 
  

 -6- 

 Exhibit B 

Detrimental Activities 
  

	I.	Confidential Information. Grantee at all times, both during and after Grantee’s employment with the Company, shall hold in the strictest confidence, and not
to use (except for the benefit of the Company at the Company’s direction) or disclose (without the written authorization of an officer of the Company), regardless of when disclosed to Grantee, any and all technical data, trade secrets, know-how
or other confidential or proprietary information of the Company, including without limitation any and all information related to the products, product plans, technologies, inventions, mask works, ideas, processes, formulas, source and object codes,
computer programs, data bases, other works of authorship, improvements, discoveries, developments, designs and techniques, research, developmental or experimental work, customer and business partner lists, employee lists, business plans, sales or
marketing plans or results, markets, prices and costs, financial information, or other subject matter pertaining to any business of the Company or any of its licensors, customers, business partners, consultants or customers (collectively,
“Confidential Information”). Confidential Information further includes, but is not limited to, information pertaining to any aspect of the Company’s business which is either information not known (or known as a result of a wrongful
act of Grantee or of others who were under confidentiality obligations as to the item or items involved) by actual or potential competitors of the Company or other third parties not under confidentiality obligations to the Company, or is otherwise
proprietary information of the Company or its customers or suppliers, whether of a technical nature or otherwise. Confidential Information does not include any of the foregoing items which has become publicly and widely known and made generally
available through no wrongful act of mine or of others who were under confidentiality obligations as to the item or items involved. 

  

	II.	Non-Solicitation of Employees. During Grantee’s employment and ending on the expiration of one (1) year following the termination of Grantee’s
employment with the Company for any reason Grantee shall not either directly or indirectly solicit, induce, recruit, encourage or otherwise endeavor to cause or attempt to cause any employee or consultant of the Company, who was employed or provided
services to the Company for six months prior to the termination of Grantee’s employment, to terminate their relationship with the Company. 

  

	III.	Non-Solicitation of Customers. During Grantee’s employment and ending on the expiration of one (1) year following the termination of Grantee’s
employment with the Company for any reason Grantee shall not either directly or indirectly solicit, induce, recruit, encourage or otherwise endeavor to cause or attempt to cause any past, current or prospective customer of the Company, to cease
doing business in whole or in part with the Company or to change or alter in any adverse way the business relationship such customer has with the Company. 

  

	IV.	 Non-Competition. During Grantee’s employment and ending on the expiration of one (1) year following the termination of Grantee’s
employment with the Company for any reason, the Grantee shall not directly or indirectly own any interest in, manage, control, participate in, be employed by, consult with, render services for, or in any manner engage in any Competing Business
within any geographical area in which the Company or any of its controlled affiliates engage or have active plans at the Grantee’s termination date to engage in such businesses. The Grantee acknowledges and agrees that this restriction is
without specific geographic limitation inasmuch as the Company and its affiliates conduct business on a nationwide and international basis, that its sales and marketing prospects are for continued expansion both nationally and internationally, that
access to the Company’s Confidential Information would provide any national or international competitor with an unfair competitive advantage, and that, therefore, the restrictions set forth in this section are reasonable and properly required

  

 -7- 

	 	
for the adequate protection of the legitimate interests of the Company. Nothing herein shall prohibit the Grantee from owning beneficially not more than 2% of any class of outstanding equity
securities or other comparable interests of any issuer that is publicly traded, so long as the Grantee has no active participation in the business of such issuer. For purposes hereof, the term “Competing Business” means any business that
is engaged in the production or sale of products that compete with the products produced, distributed or sold by the Company or its controlled affiliates (or are in the process of being actively developed by such entities) as of Grantee’s
termination date. This restriction shall not prevent the Grantee from working for a subsidiary, division, venture or other business or functional service unit (collectively a “Unit”) of a Competing Business so long as (i) such Unit is
not itself a Competing Business, (ii) the Grantee does not manage or participate in business activities or projects of any Unit that is a Competing Business, and (iii) the Grantee otherwise strictly complies with the restrictive covenants
contained in this Exhibit. 

  

	V.	Non-Disparagement. Grantee at all times, both during and after Grantee’s employment with the Company, shall not make any statement disparaging the Company,
any officer, director, employee or other service provider for the Company, or any product or service offered by the Company. 

  

 -8-

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