Document:

EX-10.4

 Exhibit 10.4 

FORM OF 
 SECOND AMENDED
AND RESTATED 
 LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 SOLARIS OILFIELD
INFRASTRUCTURE, LLC 
 DATED AS OF [•], 2017 

THE LIMITED LIABILITY COMPANY INTERESTS IN SOLARIS OILFIELD INFRASTRUCTURE, LLC HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED,
THE SECURITIES LAWS OF ANY STATE, OR ANY OTHER APPLICABLE SECURITIES LAWS, AND HAVE BEEN OR ARE BEING ISSUED IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH LAWS. SUCH INTERESTS MUST BE ACQUIRED FOR
INVESTMENT ONLY AND MAY NOT BE OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR TRANSFERRED AT ANY TIME EXCEPT IN COMPLIANCE WITH (I) THE SECURITIES ACT, ANY APPLICABLE SECURITIES LAWS OF ANY STATE AND ANY OTHER APPLICABLE SECURITIES
LAWS; (II) THE TERMS AND CONDITIONS OF THIS SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT; AND (III) ANY OTHER TERMS AND CONDITIONS AGREED TO IN WRITING BETWEEN THE MANAGING MEMBER AND THE APPLICABLE MEMBER. THE LIMITED
LIABILITY COMPANY INTERESTS MAY NOT BE TRANSFERRED OF RECORD EXCEPT IN COMPLIANCE WITH SUCH LAWS, THIS SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT, AND ANY OTHER TERMS AND CONDITIONS AGREED TO IN WRITING BY THE MANAGING MEMBER
AND THE APPLICABLE MEMBER. THEREFORE, PURCHASERS AND OTHER TRANSFEREES OF SUCH LIMITED LIABILITY COMPANY INTERESTS WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENT OR ACQUISITION FOR AN INDEFINITE PERIOD OF TIME. 

 
  

 

 Table of Contents 

 

							
	 ARTICLE I DEFINITIONS
	  	 	2	 
			
	 Section 1.1
	  	Definitions	  	 	2	 
	 Section 1.2
	  	Interpretive Provisions	  	 	14	 
		
	 ARTICLE II ORGANIZATION OF THE LIMITED LIABILITY COMPANY
	  	 	14	 
			
	 Section 2.1
	  	Formation	  	 	14	 
	 Section 2.2
	  	Filing	  	 	14	 
	 Section 2.3
	  	Name	  	 	14	 
	 Section 2.4
	  	Registered Office; Registered Agent	  	 	15	 
	 Section 2.5
	  	Principal Place of Business	  	 	15	 
	 Section 2.6
	  	Purpose; Powers	  	 	15	 
	 Section 2.7
	  	Term	  	 	15	 
	 Section 2.8
	  	Intent	  	 	15	 
		
	 ARTICLE III CLOSING TRANSACTIONS
	  	 	15	 
			
	 Section 3.1
	  	Recapitalization Transactions	  	 	15	 
		
	 ARTICLE IV OWNERSHIP AND CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS
	  	 	16	 
			
	 Section 4.1
	  	Authorized Units; General Provisions With Respect to Units	  	 	16	 
	 Section 4.2
	  	Voting Rights	  	 	19	 
	 Section 4.3
	  	Capital Contributions; Unit Ownership	  	 	20	 
	 Section 4.4
	  	Capital Accounts	  	 	20	 
	 Section 4.5
	  	Other Matters	  	 	21	 
	 Section 4.6
	  	Redemption of Units	  	 	21	 
		
	 ARTICLE V ALLOCATIONS OF PROFITS AND LOSSES
	  	 	29	 
			
	 Section 5.1
	  	Profits and Losses	  	 	29	 
	 Section 5.2
	  	Special Allocations	  	 	29	 
	 Section 5.3
	  	Allocations for Tax Purposes in General	  	 	31	 
	 Section 5.4
	  	Other Allocation Rules	  	 	32	 
		
	 ARTICLE VI DISTRIBUTIONS
	  	 	33	 
			
	 Section 6.1
	  	Distributions	  	 	33	 
	 Section 6.2
	  	Tax-Related Distributions	  	 	34	 
	 Section 6.3
	  	Distribution Upon Withdrawal	  	 	34	 
		
	 ARTICLE VII MANAGEMENT
	  	 	34	 
			
	 Section 7.1
	  	The Managing Member; Fiduciary Duties	  	 	34	 

  
 i 

							
	 Section 7.2
	  	Officers	  	 	35	 
	 Section 7.3
	  	Warranted Reliance by Officers on Others	  	 	36	 
	 Section 7.4
	  	Indemnification	  	 	36	 
	 Section 7.5
	  	Maintenance of Insurance or Other Financial Arrangements	  	 	37	 
	 Section 7.6
	  	Resignation or Termination of Managing Member	  	 	37	 
	 Section 7.7
	  	No Inconsistent Obligations	  	 	37	 
	 Section 7.8
	  	Reclassification Events of PubCo	  	 	38	 
	 Section 7.9
	  	Certain Costs and Expenses	  	 	38	 
		
	 ARTICLE VIII ROLE OF MEMBERS
	  	 	39	 
			
	 Section 8.1
	  	Rights or Powers	  	 	39	 
	 Section 8.2
	  	Voting	  	 	39	 
	 Section 8.3
	  	Various Capacities	  	 	40	 
	 Section 8.4
	  	Investment Opportunities	  	 	40	 
		
	 ARTICLE IX TRANSFERS OF INTERESTS
	  	 	42	 
			
	 Section 9.1
	  	Restrictions on Transfer	  	 	42	 
	 Section 9.2
	  	Notice of Transfer	  	 	43	 
	 Section 9.3
	  	Transferee Members	  	 	44	 
	 Section 9.4
	  	Legend	  	 	44	 
		
	 ARTICLE X ACCOUNTING
	  	 	45	 
			
	 Section 10.1
	  	Books of Account	  	 	45	 
	 Section 10.2
	  	Tax Elections	  	 	45	 
	 Section 10.3
	  	Tax Returns; Information	  	 	45	 
	 Section 10.4
	  	Tax Matters Member and Company Representative	  	 	46	 
	 Section 10.5
	  	Withholding Tax Payments and Obligations	  	 	46	 
		
	 ARTICLE XI DISSOLUTION AND TERMINATION
	  	 	47	 
			
	 Section 11.1
	  	Liquidating Events	  	 	47	 
	 Section 11.2
	  	Bankruptcy	  	 	47	 
	 Section 11.3
	  	Procedure	  	 	48	 
	 Section 11.4
	  	Rights of Members	  	 	49	 
	 Section 11.5
	  	Notices of Dissolution	  	 	49	 
	 Section 11.6
	  	Reasonable Time for Winding Up	  	 	49	 
	 Section 11.7
	  	No Deficit Restoration	  	 	49	 
		
	 ARTICLE XII GENERAL
	  	 	49	 
			
	 Section 12.1
	  	Amendments; Waivers	  	 	49	 
	 Section 12.2
	  	Further Assurances	  	 	50	 
	 Section 12.3
	  	Successors and Assigns	  	 	50	 
	 Section 12.4
	  	Entire Agreement	  	 	50	 
	 Section 12.5
	  	Rights of Members Independent	  	 	51	 
	 Section 12.6
	  	Governing Law	  	 	51	 
	 Section 12.7
	  	Jurisdiction and Venue	  	 	51	 

  
 ii 

							
	 Section 12.8
	  	Headings	  	 	51	 
	 Section 12.9
	  	Counterparts	  	 	51	 
	 Section 12.10
	  	Notices	  	 	52	 
	 Section 12.11
	  	Representation By Counsel; Interpretation	  	 	53	 
	 Section 12.12
	  	Severability	  	 	53	 
	 Section 12.13
	  	Expenses	  	 	53	 
	 Section 12.14
	  	Waiver of Jury Trial	  	 	53	 
	 Section 12.15
	  	No Third Party Beneficiaries	  	 	53	 

  

  
 iii 

 SECOND AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 SOLARIS OILFIELD
INFRASTRUCTURE, LLC 
 This SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (as amended, supplemented or restated from
time to time, this “Agreement”) is entered into as of [•], 2017, by and among Solaris Oilfield Infrastructure, LLC, a Delaware limited liability company (the “Company”), Solaris Oilfield
Infrastructure, Inc. (“PubCo”), and each other Person who is or at any time becomes a Member in accordance with the terms of this Agreement and the Act. Capitalized terms used herein and not otherwise defined have the
respective meanings set forth in Section 1.1. 
 RECITALS 

WHEREAS, the Company was formed pursuant to a Certificate of Formation filed in the office of the Secretary of State of the State of
Delaware on July 1, 2014 and was originally governed by a Limited Liability Company Agreement dated as of August 31, 2014, as amended by the Consent and First Amendment to Limited Liability Company Agreement, dated as of October 29,
2014; 
 WHEREAS, in connection with a reorganization of the Company, the Company and certain of the Members entered into the First
Amended and Restated Limited Liability Company Agreement, dated as of November 17, 2014, as amended by Amendment No. 1 to First Amended and Restated Limited Liability Company, dated as of March 11, 2015 (the “Existing LLC
Agreement”); 
 WHEREAS, the Members of the Company consist of those Persons listed on Exhibit A as of the date
hereof;  
 WHEREAS, pursuant to Article III of this Agreement, the Company shall be recapitalized; 

WHEREAS, it is contemplated that PubCo will, subject to the approval of its board of directors, issue [•] shares of Class A Common
Stock to the public for cash in the initial underwritten public offering of shares of its stock (the “IPO”); 

WHEREAS, if the IPO is consummated, PubCo will contribute all of the net proceeds received by it from the IPO and [•] shares of
its Class B Common Stock to the Company in exchange for a number of Units equal to the number of shares of Class A Common Stock issued in the IPO; 

WHEREAS, each Unit (other than any Unit held by PubCo and its wholly owned Subsidiaries) may be redeemed, at the election of the holder
of such Unit (together with the surrender and delivery by such holder of one share of Class B Common Stock), for one share of Class A Common Stock in accordance with the terms and conditions of this Agreement; 

 WHEREAS, the Members of the Company desire that PubCo become the sole managing Member of
the Company (in its capacity as managing Member as well as in any other capacity, the “Managing Member”); 

WHEREAS, the Members of the Company desire to amend and restate the Existing LLC Agreement and adopt this Agreement; and 

WHEREAS, this Agreement shall supersede the Existing LLC Agreement in its entirety as of the date hereof. 

NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration the
receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1 Definitions. As used in this Agreement and the Schedules and Exhibits attached to this Agreement, the
following definitions shall apply: 
 “Act” means the Delaware Limited Liability Company Act, 6 Del. C. § 18-101, et seq., as amended from time to time (or any corresponding provisions of succeeding law). 

“Action” means any claim, action, suit, arbitration, inquiry, proceeding or investigation by or before any
Governmental Entity. 
 “Adjusted Basis” has the meaning given such term in Section 1011 of the Code. 

“Adjusted Capital Account Deficit” means the deficit balance, if any, in such Member’s Capital Account at the end
of any Fiscal Year or other taxable period, with the following adjustments: 
  

	 	(a)	credit to such Capital Account any amount that such Member is obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), as well as any addition
thereto pursuant to the next to last sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) after taking into account thereunder any changes
during such year in Company Minimum Gain and Member Minimum Gain; and 

  

	 	(b)	debit to such Capital Account the items described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6). 

This definition of Adjusted Capital Account Deficit is intended to comply with the provisions of Treasury Regulations
Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. 

  
 2 

 “Affiliate” means, with respect to any Person, any other Person that
directly or indirectly controls, is controlled by, or is under common control with, such Person. For these purposes, “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of such Person, whether through the ownership of voting securities, by contract or otherwise; provided that, for purposes of this Agreement, (a) no Member shall be deemed an Affiliate of the Company or any of its Subsidiaries
and (b) none of the Company or any of its Subsidiaries shall be deemed an Affiliate of any Member. 

“Agreement” is defined in the preamble to this Agreement. 

“beneficially own” and “beneficial owner” shall be as defined in Rule 13d-3 of the rules promulgated under the Exchange Act. 
 “BHC Member” means a
Member that is a bank holding company as defined in the BHCA, or a non-bank subsidiary of such a bank holding company. 

“BHCA” means the Bank Holding Company Act of 1956, as amended, and any successor statute thereto, and the rules and
regulations promulgated thereunder. 
 “Bipartisan Budget Act of 2015” means Title XI of the Bipartisan Budget Act
of 2015, as may be amended from time to time (or any corresponding provisions of succeeding law), and any related provisions of law, including court decisions, regulations and administrative guidance. 

“Board” means the board of directors of PubCo. 

“Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized
by Law to be closed in the City of New York. 
 “Business Opportunities Exempt Party” is defined in
Section 8.4. 
 “Call Election Notice” is defined in Section 4.6(f)(ii). 

“Call Right” has the meaning set forth in Section 4.6(f)(i) 

“Capital Account” means, with respect to any Member, the Capital Account maintained for such Member in accordance with
Section 4.4. 
 “Capital Contribution” means, with respect to any Member, the amount of
cash and the initial Gross Asset Value of any property (other than cash) contributed to the Company by such Member. Any reference to the Capital Contribution of a Member will include any Capital Contributions made by a predecessor holder of such
Member’s Units to the extent that such Capital Contribution was made in respect of Units Transferred to such Member. 

“Cash Election” is defined in Section 4.6(a)(iii) and shall also include PubCo’s election to purchase
Units for cash pursuant to an exercise of its Call Right set forth in Section 4.6(g). 

  
 3 

 “Cash Election Amount” means with respect to a particular Redemption for
which a Cash Election has been made, (i) if the Class A Common Stock trades on a securities exchange or automated or electronic quotation system, an amount of cash equal to the product of (A) the number of shares of Class A
Common Stock that would have been received in such Redemption if a Cash Election had not been made and (B) the average of the volume-weighted closing price for a share of Class A Common Stock on the principal U.S. securities exchange or
automated or electronic quotation system on which the Class A Common Stock trades, as reported by Bloomberg, L.P., or its successor, for each of the ten (10) consecutive full Trading Days ending on and including the last full Trading Day
immediately prior to the Redemption Notice Date, subject to appropriate and equitable adjustment for any stock splits, reverse splits, stock dividends or similar events affecting the Class A Common Stock; and (ii) if the Class A
Common Stock no longer trades on a securities exchange or automated or electronic quotation system, an amount of cash equal to the product of (A) the number of shares of Class A Common Stock that would have been received in such Redemption
if a Cash Election had not been made and (B) the fair market value of one share of Class A Common Stock, as determined by the Managing Member in good faith, that would be obtained in an arms-length transaction between an informed and
willing buyer and an informed and willing seller, with neither party having any compulsion to buy or sell, and without regard to the particular circumstances of the buyer or seller. 

“Change of Control Redemption Date” is defined in Section 4.6(g). 

“Chief Executive Officer” is defined in Section 7.2(b). 

“Class A Common Stock” means, as applicable, (a) the Class A Common Stock,
par value $0.01 per share, of PubCo or (b) following any consolidation, merger, reclassification or other similar event involving PubCo, any shares or other securities of PubCo or any other Person or cash or other property that become payable
in consideration for the Class A Common Stock or into which the Class A Common Stock is exchanged or converted as a result of such consolidation, merger, reclassification or other similar event. 

“Class B Common Stock” means, as applicable, (a) the Class B Common Stock,
par value $0.01 per share, of PubCo or (b) following any consolidation, merger, reclassification or other similar event involving PubCo, any shares or other securities of PubCo or any other Person or cash or other property that become payable
in consideration for the Class B Common Stock or into which the Class B Common Stock is exchanged or converted as a result of such consolidation, merger, reclassification or other similar event. 

“Closing Date Capital Account Balance” means, with respect to any Member, the positive Capital Account balance of such
Member as of the date hereof, the amount or deemed value of which is set forth on Exhibit A. 
 “Code” means
the United States Internal Revenue Code of 1986, as amended from time to time (or any corresponding provisions of succeeding law). 

“Commission” means the U.S. Securities and Exchange Commission, including any governmental body or agency succeeding
to the functions thereof. 
 “Company” is defined in the preamble to this Agreement. 

  
 4 

 “Company Minimum Gain” has the meaning of “partnership minimum
gain” set forth in Treasury Regulations Sections 1.704-2(b)(2) and 1.704-2(d). It is further understood that Company Minimum Gain shall be determined in a
manner consistent with the rules of Treasury Regulations Section 1.704-2(b)(2), including the requirement that if the adjusted Gross Asset Value of property subject to one or more Nonrecourse Liabilities
differs from its adjusted tax basis, Company Minimum Gain shall be determined with reference to such Gross Asset Value. 

“Company Representative” has the meaning assigned to the term “partnership representative” in
Section 6223 of the Code and any Treasury Regulations or other administrative or judicial pronouncements promulgated thereunder. 

“Contract” means any written agreement, contract, lease, sublease, license, sublicense, obligation, promise or
undertaking. 
 “control” (including the terms “controlled by” and “under common control with”),
with respect to the relationship between or among two or more Persons, means the possession, directly or indirectly or as trustee, personal representative or executor, of the power to direct or cause the direction of the affairs or management of a
Person, whether through the ownership of voting securities, as trustee, personal representative or executor, by contract, credit arrangement or otherwise. 

“Covered Person” is defined in Section 7.4. 

“Debt Securities” means, with respect to PubCo, any and all debt instruments or debt securities that are not
convertible or exchangeable into Equity Securities of PubCo. 
 “Depreciation” means, for each Fiscal Year or other
taxable period, an amount equal to the depreciation, amortization, or other cost recovery deduction allowable with respect to an asset for such Fiscal Year or other taxable period, except that (a) with respect to any such property the Gross
Asset Value of which differs from its Adjusted Basis for U.S. federal income tax purposes and which difference is being eliminated by use of the “remedial method” pursuant to Treasury Regulations
Section 1.704-3(d), Depreciation for such Fiscal Year or other taxable period shall be the amount of book basis recovered for such Fiscal Year or other taxable period under the rules prescribed by
Treasury Regulations Section 1.704-3(d)(2), and (b) with respect to any other such property the Gross Asset Value of which differs from its Adjusted Basis for U.S. federal income tax purposes at the
beginning of such Fiscal Year or other taxable period, Depreciation shall be an amount which bears the same ratio to such beginning Gross Asset Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such
Fiscal Year or other taxable period bears to such beginning Adjusted Basis; provided, however, that if the Adjusted Basis for U.S. federal income tax purposes of an asset at the beginning of such Fiscal Year or other taxable period is
zero, Depreciation with respect to such asset shall be determined with reference to such beginning Gross Asset Value using any reasonable method selected by the Managing Member. 

“DGCL” means the General Corporation Law of the State of Delaware, as amended from time to time (or any corresponding
provisions of succeeding law). 
 “Discount” has the meaning set forth in Section 7.9.

  
 5 

 “Effective Time” means 12:01 a.m. Central Daylight Time on the date of
the initial closing of the IPO. 
 “Equity Securities” means (a) with respect to a partnership, limited
liability company or similar Person, any and all units, interests, rights to purchase, warrants, options or other equivalents of, or other ownership interests in, any such Person as well as debt or equity instruments convertible, exchangeable or
exercisable into any such units, interests, rights or other ownership interests and (b) with respect to a corporation, any and all shares, interests, participation or other equivalents (however designated) of corporate stock, including all
common stock and preferred stock, or warrants, options or other rights to acquire any of the foregoing, including any debt instrument convertible or exchangeable into any of the foregoing. 

“ERISA” means the Employee Retirement Security Act of 1974, as amended. 

“Exchange Act” means the Securities Exchange Act of 1934, and the rules and regulations promulgated thereunder, as the
same may be amended from time to time (or any corresponding provisions of succeeding law). 
 “Existing LLC
Agreement” is defined in the recitals to this Agreement. 
 “Fair Market Value” means the fair market
value of any property as determined in good faith by the Managing Member after taking into account such factors as the Managing Member shall deem appropriate. 

“Federal Bankruptcy Code” means Title 11 of the United States Code, as amended from time to time, and all rules and
regulations promulgated thereunder. 
 “Fiscal Year” means the fiscal year of the Company, which shall end on
December 31 of each calendar year unless, for U.S. federal income tax purposes, another fiscal year is required. The Company shall have the same fiscal year for U.S. federal income tax purposes and for accounting purposes. 

“GAAP” means U.S. generally acceptable accounting principles at the time. 

“Good Faith” means a Person having acted in good faith and in a manner such Person reasonably believed to be in or not
opposed to the best interests of the Company, and, with respect to a criminal proceeding, having had no reasonable cause to believe such Person’s conduct was unlawful. 

“Governmental Entity” means any federal, national, supranational, state, provincial, local, foreign or other
government, governmental, stock exchange, regulatory or administrative authority, agency or commission or any court, tribunal, or judicial or arbitral body. 

  
 6 

 “Gross Asset Value” means, with respect to any asset, the asset’s
Adjusted Basis for U.S. federal income tax purposes, except as follows: 
  

	 	(a)	the initial Gross Asset Value of any asset contributed by a Member to the Company shall be the gross Fair Market Value of such asset as of the date of such contribution; 

 

	 	(b)	the Gross Asset Values of all Company assets shall be adjusted to equal their respective gross Fair Market Values as of the following times: (i) the acquisition of an interest (or additional interest) in the
Company by any new or existing Member in exchange for more than a de minimis Capital Contribution to the Company or in exchange for the performance of more than a de minimis amount of services to or for the benefit of the Company;
(ii) the distribution by the Company to a Member of more than a de minimis amount of Company assets as consideration for an interest in the Company; (iii) the liquidation of the Company within the meaning of Treasury Regulations Section 1.704-1(b)(2)(ii)(g)(1) (other than pursuant to Code Section 708(b)(1)(B)), (iv) the acquisition of an interest in the Company by any new or existing Member upon the exercise of a
noncompensatory option in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(s); or (v) any other event to the extent determined by the Managing Member to be permitted and
necessary or appropriate to properly reflect Gross Asset Values in accordance with the standards set forth in Treasury Regulations Section 1.704-1(b)(2)(iv)(q); provided, however,
that adjustments pursuant to clauses (i), (ii) and (iv) above shall be made only if the Managing Member reasonably determines that such adjustments are necessary or appropriate to reflect the relative economic interests of the Members in the
Company. If any noncompensatory options are outstanding upon the occurrence of an event described in this paragraph (b)(i) through (b)(v), the Company shall adjust the Gross Asset Values of its properties in accordance with Treasury Regulations Sections 1.704-1(b)(2)(iv)(f)(1) and 1.704-1(b)(2)(iv)(h)(2); 

  

	 	(c)	the Gross Asset Value of any Company asset distributed to any Member shall be adjusted to equal the gross Fair Market Value of such asset on the date of such distribution; 

 

	 	(d)	the Gross Asset Values of Company assets shall be increased (or decreased) to reflect any adjustments to the Adjusted Basis of such assets pursuant to Code Section 734(b) or Code Section 743(b), but only to
the extent that such adjustments are taken into account in determining Capital Accounts pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m) and subsection (f) in the
definition of “Profits” or “Losses” below or Section 5.2(h); provided, however, that the Gross Asset Value of a Company asset shall not be adjusted pursuant to this subsection to the extent the Managing
Member determines that an adjustment pursuant to subsection (b) of this definition is necessary or appropriate in connection with a transaction that would otherwise result in an adjustment pursuant to this subsection (d); and 

 

	 	(e)	if the Gross Asset Value of a Company asset has been determined or adjusted pursuant to subsections (a), (b) or (d) of this definition of Gross Asset Value, such Gross Asset Value shall
thereafter be adjusted by the Depreciation taken into account with respect to such asset for purposes of computing Profits, Losses and other items allocated pursuant to Article V. 

  
 7 

 “Indebtedness” means (a) all indebtedness for borrowed money
(including capitalized lease obligations, sale-leaseback transactions or other similar transactions, however evidenced), (b) any other indebtedness that is evidenced by a note, bond, debenture, draft or similar instrument, (c) notes payable and
(d) lines of credit and any other agreements relating to the borrowing of money or extension of credit. 
 “Investment
Company Act” is defined in Section 8.1(b). 
 “Interest” means the entire interest of a Member
in the Company, including the Units and all of such Member’s rights, powers and privileges under this Agreement and the Act. 

“IPO” is defined in the recitals to this Agreement. 

“Law” means any federal, national, supranational, state, provincial, local or similar statute, law, ordinance,
regulation, rule, code, order, requirement or rule of law (including common law). 
 “Legal Action” is defined in
Section 12.7. 
 “Liability” means any liability or obligation, whether known or unknown,
asserted or unasserted, absolute or contingent, accrued or unaccrued, liquidated or unliquidated and whether due or to become due, regardless of when asserted. 

“Liquidating Event” is defined in Section 11.1. 

“Managing Member” is defined in the recitals to this Agreement. 

“Member” means any Person that executes this Agreement as a Member, and any other Person admitted to the Company as an
additional or substituted Member, that has not made a disposition of such Person’s entire Interest. 
 “Member Minimum
Gain” has the meaning ascribed to “partner nonrecourse debt minimum gain” set forth in Treasury Regulations Section 1.704-2(i). It is further understood that the determination of
Member Minimum Gain and the net increase or decrease in Member Minimum Gain shall be made in the same manner as required for such determination of Company Minimum Gain under Treasury Regulations
Sections 1.704-2(d) and 1.704-2(g)(3). 

“Member Nonrecourse Debt” has the meaning of “partner nonrecourse debt” set forth in Treasury Regulations Section 1.704-2(b)(4). 
 “Member Nonrecourse Deductions” has the meaning of
“partner nonrecourse deductions” set forth in Treasury Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2). 

“Minority Member Redemption Date” is defined in Section 4.6(h). 

  
 8 

 “Minority Member Redemption Notice” is defined in Section 4.6(h).

 “National Securities Exchange” means an exchange registered with the Commission under the Exchange Act. 

“Non-Voting Membership Interest” is defined in Section 8.5(a). 

“Nonrecourse Deductions” has the meaning assigned that term in Treasury Regulations
Section 1.704-2(b). 
 “Nonrecourse Liability” is defined in Treasury
Regulations Section 1.704-2(b)(3). 
 “Officer” means each Person
appointed as an officer of the Company pursuant to and in accordance with the provisions of Section 7.2. 

“Option” means the option to purchase an additional [•] shares of Class A Common Stock granted
by PubCo to the underwriters for the IPO as described in PubCo’s registration statement on Form S-1 (Registration No. 333-216721), initially filed with
the Commission on March 15, 2017. 
 “Permitted Transferee” means, with respect to any Member, (a) any
Affiliate of such Member; (b) any partner, shareholder or member of such Member, (c) any successor entity of such Member; (d) a trust established by or for the benefit of a Member of which only such Member and his or her immediate
family members are beneficiaries; (e) any Person established for the benefit of, and beneficially owned solely by, an entity Member or the sole individual direct or indirect owner of an entity Member; and (f) upon an individual
Member’s death, an executor, administrator or beneficiary of the estate of the deceased Member. 
 “Person”
means any individual, partnership, firm, corporation, limited liability company, association, trust, unincorporated organization or other entity, as well as any syndicate or group that would be deemed to be a person under Section 13(d)(3) of
the Exchange Act. 
 “Plan Asset Regulations” means the regulations issued by the U.S. Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29 of the Code of Federal Regulations, or any successor regulations as the same may be amended from time to time. 

“Primary B Shares” is defined in Section 3.1(b). 

“Prime Rate” means, on any date of determination, a rate per annum equal to the rate of interest most recently
published by The Wall Street Journal as the “prime rate” at large U.S. money center banks. 
 “Proceeding”
is defined in Section 7.4. 

  
 9 

 “Profits” or “Losses” means, for each Fiscal Year
or other taxable period, an amount equal to the Company’s taxable income or loss for such year or period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be
stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments (without duplication): 
  

	 	(a)	any income or gain of the Company that is exempt from U.S. federal income tax and not otherwise taken into account in computing Profits or Losses shall be added to such taxable income or loss; 

 

	 	(b)	any expenditures of the Company described in Code Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury Regulations
Section 1.704-1(b)(2)(iv)(i), and not otherwise taken into account in computing Profits or Losses, shall be subtracted from such taxable income or loss; 

 

	 	(c)	in the event the Gross Asset Value of any Company asset is adjusted pursuant to subsection (b) or (c) of the definition of Gross Asset Value above, the amount of such adjustment shall be treated as an item of gain
(if the adjustment increases the Gross Asset Value of the Company asset) or an item of loss (if the adjustment decreases the Gross Asset Value of the Company asset) from the disposition of such asset and shall, except to the extent allocated
pursuant to Section 5.2, be taken into account for purposes of computing Profits or Losses; 

  

	 	(d)	gain or loss resulting from any disposition of Company assets with respect to which gain or loss is recognized for U.S. federal income tax purposes shall be computed with reference to the Gross Asset Value of the asset
disposed of, notwithstanding that the adjusted tax basis of such asset differs from its Gross Asset Value; 

  

	 	(e)	in lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation; 

 

	 	(f)	to the extent an adjustment to the adjusted tax basis of any asset pursuant to Code Section 734(b) is required, pursuant to Treasury Regulations
Section 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Account balances as a result of a distribution other than in liquidation of a Member’s interest in the Company,
the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of the asset) or an item of loss (if the adjustment decreases such basis) from the disposition of such asset and shall be taken into account for
purposes of computing Profits or Losses; and 

  

	 	(g)	any items of income, gain, loss or deduction which are specifically allocated pursuant to the provisions of Section 5.2 shall not be taken into account in computing Profits or Losses for any
taxable year, but such items available to be specially allocated pursuant to Section 5.2 will be determined by applying rules analogous to those set forth in subparagraphs (a) through (f) above. 

“Property” means all real and personal property owned by the Company from time to time, including both tangible and
intangible property. 

  
 10 

 “PubCo” is defined in the recitals to this Agreement. 

“PubCo Change of Control” means the occurrence of any of the following events or series of events after the Effective
Time: 
 (a) any Person (excluding any Qualifying Owner or any group of Qualifying Owners acting together which would constitute a
“group” for purposes of Section 13(d) of the Exchange Act, and excluding a corporation or other entity owned, directly or indirectly, by the stockholders of PubCo in substantially the same proportions as their ownership of stock of
the PubCo) is or becomes the beneficial owner, directly or indirectly, of securities of PubCo representing more than 50% of the combined voting power of PubCo’s then outstanding voting securities; or 

(b) there is consummated a merger or consolidation of PubCo with any other corporation or other entity, and, immediately after the consummation
of such merger or consolidation, the voting securities of PubCo immediately prior to such merger or consolidation do not continue to represent or are not converted into more than 50% of the combined voting power of the then-outstanding voting
securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof; or 

(c) the stockholders of PubCo approve a plan of complete liquidation or dissolution of PubCo or there is consummated an agreement or series of
related agreements for the sale or other disposition, directly or indirectly, by PubCo of all or substantially all of PubCo’s assets, other than such sale or other disposition by PubCo of all or substantially all of PubCo’s assets to an
entity, at least 50% of the combined voting power of the voting securities of which are owned by stockholders of PubCo in substantially the same proportions as their ownership of PubCo immediately prior to such sale. 

Notwithstanding the foregoing, except with respect to clause (b)(i) above, a “PubCo Change of Control” shall not be deemed to have
occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the shares of PubCo immediately prior to such transaction or series of transactions continue to have
substantially the same proportionate ownership in, and own substantially all of the shares of, an entity which owns, either directly or through a Subsidiary, all or substantially all of the assets of PubCo immediately following such transaction or
series of transactions. 
 “PubCo Common Stock” means all classes and series of common stock of PubCo, including the
Class A Common Stock and the Class B Common Stock. 
 “Qualifying Owners” means (i) William A.
Zartler, or any company of which he is the manager, managing member or otherwise controls, including, but not limited to, Solaris Energy Capital, LLC, (ii) any wife, lineal descendant, legal guardian or other legal representative or estate of
the principal member named in clause (i) above; (iii) any trust of which at least one of the trustees is a person described in clause (i) or (ii) above, (iv) Yorktown Energy Partners X, L.P. and any affiliated funds or
investment vehicles managed by Yorktown Partners LLC, (v) Loadcraft Site Services, LLC, (vi) any affiliated funds or investment vehicles managed by any of the persons described in clause (iv) or (v) above, and (vii) any
general partner, managing member, principal or managing director of any of the persons described in clause (iv) or (v) above. 

  
 11 

 “Recalculation Event” is defined in Section 8.5(a). 

“Reclassification Event” means any of the following: (a) any reclassification or recapitalization of PubCo Common
Stock (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination or any transaction subject to Section 4.1(g)), (b) any merger, consolidation or
other combination involving PubCo, or (c) any sale, conveyance, lease, or other disposal of all or substantially all the properties and assets of PubCo to any other Person, in each of clauses (a), (b) or (c), as a result of which holders of
PubCo Common Stock shall be entitled to receive cash, securities or other property for their shares of PubCo Common Stock. 

“Redeeming Member” is defined in Section 4.6(a)(i). 

“Redemption” has the meaning set forth in Section 4.6(a)(i). 

“Redemption Date” means (a) the later of (i) the date that is five Business Days after the Redemption Notice
Date and (ii) if the Company or PubCo has made a valid Cash Election with respect to the relevant Redemption, the first Business Day on which the Company or PubCo has available funds to pay the Cash Election Amount, which in no event shall be
more than ten Business Days after the Redemption Notice Date, or (b) such later date (i) specified in the Redemption Notice or (ii) on which a contingency described in Section 4.6(a)(ii)(C) that is specified in the Redemption
Notice is satisfied. 
 “Redemption Notice” is defined in Section 4.6(a)(ii). 

“Redemption Notice Date” is defined in Section 4.6(a)(ii). 

“Registration Rights Agreement” means the Registration Rights Agreement, by and among PubCo and the Members, to be
entered into concurrently with the closing of the IPO. 
 “Regulatory Allocations” is defined in Section
5.2(i). 
 “Retraction Notice” is defined in Section 4.6(b)(i). 

“Secondary B Shares” is defined in Section 3.1(b). 

“Securities Act” means the Securities Act of 1933, and the rules and regulations promulgated thereunder, as the same
may be amended from time to time (or any corresponding provisions of succeeding law). 
 “Subsidiary” means, with
respect to any specified Person, any other Person with respect to which such specified Person (a) has, directly or indirectly, the power, through the ownership of securities or otherwise, to elect a majority of directors or similar managing
body or (b) beneficially owns, directly or indirectly, a majority of such Person’s Equity Securities. 
 “Tax
Distributions” means distributions required to be made pursuant to Section 6.2. 

  
 12 

 “Tax Matters Member” means the “tax matters partner” as defined
in Code Section 6231(a)(7) and as appointed in Section 10.5. 
 “Tax Receivable
Agreements” means the Tax Receivable Agreement dated as of [•], 2017 by and among PubCo and the other parties thereto and any similar agreement entered into by PubCo after the date hereof. 

“Trading Day” means a day on which the New York Stock Exchange or such other principal United States securities
exchange on which the Class A Common Stock is listed or admitted to trading is open for the transaction of business (unless such trading shall have been suspended for the entire day). 

“Transfer” means, when used as a noun, any voluntary or involuntary, direct or indirect (whether through a change of
control of the Transferor or any Person that controls the Transferor, the issuance or transfer of Equity Securities of the Transferor, by operation of law or otherwise), transfer, sale, pledge or hypothecation or other disposition and, when used as
a verb, voluntarily or involuntarily, directly or indirectly (whether through a change of control of the Transferor or any Person that controls the Transferor, the issuance or transfer of Equity Securities of the Transferor or any Person that
controls the Transferor, by operation of law or otherwise), to transfer, sell, pledge or hypothecate or otherwise dispose of. The terms “Transferee,” “Transferor,” “Transferred,” and other forms of the word
“Transfer” shall have the correlative meanings. 
 “Transfer Agent” is defined in Section
4.6(a)(ii). 
 “Treasury Regulations” means pronouncements, as amended from time to time, or their successor
pronouncements, which clarify, interpret and apply the provisions of the Code, and which are designated as “Treasury Regulations” by the United States Department of the Treasury. 

“Uniform Commercial Code” means the Uniform Commercial Code or any successor provision thereof as the same may from
time to time be in effect in the State of Delaware. 
 “Units” means the Units issued hereunder and shall also
include any equity security of the Company issued in respect of or in exchange for Units, whether by way of dividend or other distribution, split, recapitalization, merger, rollup transaction, consolidation, conversion or reorganization. 

“Wells Fargo” means Wells Fargo Central Pacific Holdings, Inc. 

“Wells Fargo BHC Affiliate” is defined in Section 8.5(a). 

“Wells Fargo Investments” is defined in Section 8.4(b). 

“Wells Fargo Related Parties” is defined in Section 8.4(b). 

“Winding-Up Member” is defined in Section 11.3(a). 

  
 13 

 Section 1.2 Interpretive Provisions. For all purposes of this Agreement,
except as otherwise expressly provided or unless the context otherwise requires: 
  

	 	(a)	the terms defined in Section 1.1 are applicable to the singular as well as the plural forms of such terms; 

 

	 	(b)	all accounting terms not otherwise defined herein have the meanings assigned under GAAP; 

  

	 	(c)	all references to currency, monetary values and dollars set forth herein shall mean United States (U.S.) dollars and all payments hereunder shall be made in United States dollars; 

 

	 	(d)	when a reference is made in this Agreement to an Article, Section, Exhibit or Schedule, such reference is to an Article or Section of, or an Exhibit or Schedule to, this Agreement unless otherwise indicated;

  

	 	(e)	whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”; 

 

	 	(f)	“or” is not exclusive; 

  

	 	(g)	pronouns of either gender or neuter shall include, as appropriate, the other pronoun forms; and 

  

	 	(h)	the words “hereof”, “herein” and “hereunder” and words of similar import, when used in this Agreement, refer to this Agreement as a whole and not to any particular provision of this
Agreement. 

 ARTICLE II 

ORGANIZATION OF THE LIMITED LIABILITY COMPANY 

Section 2.1 Formation. The Company has been formed as a limited liability company subject to the provisions of the Act upon
the terms, provisions and conditions set forth in this Agreement. 
 Section 2.2 Filing. The Company’s Certificate
of Formation has been filed with the Secretary of State of the State of Delaware in accordance with the Act. The Members shall execute such further documents (including amendments to such Certificate of Formation) and take such further action as is
appropriate to comply with the requirements of Law for the formation or operation of a limited liability company in Delaware and in all states and counties where the Company may conduct its business. 

Section 2.3 Name. The name of the Company is “SOLARIS OILFIELD INFRASTRUCTURE, LLC” and all business of the
Company shall be conducted in such name or, in the discretion of the Managing Member, under any other name. 

  
 14 

 Section 2.4 Registered Office; Registered Agent. The location of the
registered office of the Company in the State of Delaware is 1209 Orange Street, Wilmington, Delaware 19801, or at such other place as the Managing Member from time to time may select. The name and address for service of process on the Company in
the State of Delaware are The Corporation Trust Company, 1209 Orange Street, Wilmington, Delaware 19801, or such other qualified Person as the Managing Member may designate from time to time and its business address. 

Section 2.5 Principal Place of Business. The principal place of business of the Company shall be located in such place as
is determined by the Managing Member from time to time. 
 Section 2.6 Purpose; Powers. The nature of the business or
purposes to be conducted or promoted by the Company is to engage in any lawful act or activity for which limited liability companies may be formed under the Act. The Company shall have the power and authority to take any and all actions and engage
in any and all activities necessary, appropriate, desirable, advisable, ancillary or incidental to the accomplishment of the foregoing purpose. 

Section 2.7 Term. The term of the Company commenced on the date of filing of the Certificate of Formation of the Company
with the office of the Secretary of State of the State of Delaware in accordance with the Act and shall continue indefinitely. The Company may be dissolved and its affairs wound up only in accordance with Article XI. 

Section 2.8 Intent. It is the intent of the Members that the Company be operated in a manner consistent with its treatment
as a “partnership” for U.S. federal and state income tax purposes. It is also the intent of the Members that the Company not be operated or treated as a “partnership” for purposes of Section 303 of the Federal Bankruptcy
Code. Neither the Company nor any Member shall take any action inconsistent with the express intent of the parties hereto as set forth in this Section 2.8. 

ARTICLE III 
 CLOSING
TRANSACTIONS 
 Section 3.1 Recapitalization Transactions. 

 

	 	(a)	Effective immediately prior to the Effective Time, (i) the Existing LLC Agreement shall be amended and restated and this Agreement shall be adopted and (ii) all of the membership interests in the Company prior
to the adoption of this Agreement shall be recapitalized to consist solely of a single class of Units with the rights and privileges as set forth in this Agreement. 

 

	 	(b)	Immediately following the initial closing of the IPO, PubCo shall contribute to the Company all of the net proceeds received by PubCo in connection with such initial closing and [•] shares of Class B Common
Stock in exchange for the issuance of [•] Units1. The number of shares of Class B Common Stock so contributed shall consist of [•] shares of Class B Common Stock (the
“Primary B Shares”) and [•] shares of Class B Common Stock (the “Secondary B Shares”). 

 

	1 	 NTD: To be equal to the number of Class A shares issued in the initial closing of the IPO.

  
 15 

	 	(c)	Immediately following the contribution described in Section 3.1(b) of this Agreement, the Company shall distribute to each of the Members (other than PubCo), pro rata, in accordance with the number of
Units owned by each Member, (i) an aggregate of $[•] million in cash and (ii) the Primary B Shares. 

  

	 	(d)	Immediately following any closing of the issuance and sale of shares of Class A Common Stock pursuant to the Option, PubCo shall contribute all of the net proceeds received pursuant to such Option exercise to the
Company in exchange for a number of Units equal to the number of shares of Class A Common Stock issued and sold pursuant to such Option exercise. 

  

	 	(e)	Immediately following any contribution described in Section 3.1(d) of this Agreement, the Company shall (i) distribute to each of the Members (other than PubCo) pro rata, in accordance with the number
of Units owned by each Member, all of the cash proceeds received pursuant to such contribution, (ii) redeem from each of such Members on a pro rata basis an aggregate number of Units equal to the number of shares of Class A Common
Stock issued and sold pursuant to any related exercise of the Option and (iii) surrender to PubCo an aggregate number of Secondary B Shares equal to the number of shares of Class A Common Stock issued and sold pursuant to any related
exercise of the Option. 

  

	 	(f)	Promptly after the earlier of (x) the expiration of the Option and (y) the exercise of the Option for the aggregate number of shares of Class A Common Stock initially subject to such Option, (i) the
Company shall distribute to each of the Members (other than PubCo), pro rata, in accordance with the number of Units owned by each Member, any Secondary B Shares, which will have been held by the Company for the benefit of such Members, not
surrendered pursuant to Section 3.1(e) and (ii) PubCo shall take all actions necessary to cause the stock records of the Class B Common Stock to be held on the books and records of the Transfer Agent. 

ARTICLE IV 
 OWNERSHIP
AND CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS 
 Section 4.1 Authorized Units; General Provisions With Respect to
Units. 
  

	 	(a)	Subject to the provisions of this Agreement, the Company shall be authorized to issue from time to time such number of Units and such other Equity Securities as the Managing Member shall determine in accordance with
Section 4.3. Each authorized Unit may be issued pursuant to such agreements as the Managing Member shall approve, including pursuant to options and warrants. The Company may reissue any Units that have been repurchased or
acquired by the Company. 

  
 16 

	 	(b)	Each outstanding Unit shall be identical (except as provided in Section 4.3). 

  

	 	(c)	Initially, none of the Units will be represented by certificates. If the Managing Member determines that it is in the interest of the Company to issue certificates representing the Units, certificates will be issued and
the Units will be represented by those certificates, and this Agreement shall be amended as necessary or desirable to reflect the issuance of certificated Units for purposes of the Uniform Commercial Code. Nothing contained in this Section
4.1(c) shall be deemed to authorize or permit any Member to Transfer its Units except as otherwise permitted under this Agreement. 

  

	 	(d)	The total number of Units issued and outstanding and held by the Members is set forth on Exhibit A (as amended from time to time in accordance with the terms of this Agreement) as of the date set forth therein.

  

	 	(e)	 If, at any time after the Effective Time, PubCo issues a share of its Class A Common Stock or any other
Equity Security of PubCo (other than shares of Class B Common Stock), (i) the Company shall concurrently issue to PubCo one Unit (if PubCo issues a share of Class A Common Stock), or such other Equity Security of the Company (if PubCo
issues Equity Securities other than Class A Common Stock) corresponding to the Equity Securities issued by PubCo, and with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other
economic rights as those of such Equity Securities of PubCo to be issued and (ii) PubCo shall concurrently contribute to the Company the net proceeds or other property received by PubCo for such share of Class A Common Stock or
other Equity Security; provided, however, that if PubCo issues any shares of Class A Common Stock in order to acquire or fund the acquisition from a Member (other than PubCo) of a number of Units (and shares of Class B Common
Stock) equal to the number of shares of Class A Common Stock so issued, then the Company shall not issue any new Units in connection therewith and, where such shares of Class A Common Stock have been issued for cash to fund an acquisition,
PubCo shall not be required to transfer such net proceeds to the Company, and such net proceeds shall instead be transferred to such Member as consideration for such acquisition. Notwithstanding the foregoing, this Section 4.1(e) shall not
apply to the issuance and distribution to holders of shares of PubCo Common Stock of rights to purchase Equity Securities of PubCo under a “poison pill” or similar shareholders rights plan (and upon any redemption of Units for Class A
Common Stock, such Class A Common Stock will be issued together with a corresponding right under such plan), or to the issuance under PubCo’s employee benefit plans of any warrants, options, other rights to acquire Equity Securities of
PubCo or rights or property that may be converted into or settled in Equity Securities of PubCo, but shall in each of the foregoing cases apply to the issuance of Equity Securities of PubCo in connection with the exercise or settlement of such
rights, warrants, 

  
 17 

	 	
options or other rights or property. Except pursuant to Section 4.6, (x) the Company may not issue any additional Units to PubCo or any of its Subsidiaries unless
substantially simultaneously therewith PubCo or such Subsidiary issues or sells an equal number of newly-issued shares of PubCo’s Class A Common Stock to another Person, and (y) the Company may not issue any other Equity Securities of
the Company to PubCo or any of its Subsidiaries unless substantially simultaneously PubCo or such Subsidiary issues or sells, to another Person, an equal number of newly-issued shares of a new class or series of Equity Securities of PubCo or such
Subsidiary with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other economic rights as those of such Equity Securities of the Company. If at any time PubCo or any of its Subsidiaries
(other than the Company and its Subsidiaries) issues Debt Securities, PubCo or such Subsidiary shall transfer to the Company (in a manner to be determined by the Managing Member in its reasonable discretion) the proceeds received by PubCo or such
Subsidiary in exchange for such Debt Securities in a manner that directly or indirectly burdens the Company with the repayment of the Debt Securities. In the event any Equity Security outstanding at PubCo is exercised or otherwise converted and, as
a result, any shares of Class A Common Stock or other Equity Securities of PubCo are issued, (1) the corresponding Equity Security outstanding at the Company shall be similarly exercised or otherwise converted, as applicable, and an
equivalent number of Units or other Equity Securities of the Company shall be issued to PubCo as contemplated by the first sentence of this Section 4.1(e), and (2) PubCo shall concurrently contribute to the Company the net proceeds
received by PubCo from any such exercise. 

  

	 	(f)	 PubCo or any of its Subsidiaries may not redeem, repurchase or otherwise acquire (i) any shares of
Class A Common Stock (including upon forfeiture of any unvested shares of Class A Common Stock) unless substantially simultaneously the Company redeems, repurchases or otherwise acquires from PubCo or such Subsidiary an equal number of
Units for the same price per security or (ii) any other Equity Securities of PubCo, unless substantially simultaneously the Company redeems, repurchases or otherwise acquires from PubCo or such Subsidiary an equal number of Equity Securities of
the Company of a corresponding class or series with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other economic rights as those of such Equity Securities of PubCo for the same price per
security. The Company may not redeem, repurchase or otherwise acquire (x) except pursuant to Section 4.6, any Units from PubCo or any of its Subsidiaries unless substantially simultaneously PubCo or such Subsidiary
redeems, repurchases or otherwise acquires an equal number of shares of Class A Common Stock for the same price per security from holders thereof, or (y) any other Equity Securities of the Company from PubCo or any of its Subsidiaries
unless substantially simultaneously PubCo or such Subsidiary redeems, repurchases or otherwise acquires for the same price per security an equal number of Equity Securities of PubCo of a corresponding class or series with substantially the same
rights to dividends and distributions (including distribution upon liquidation) and other 

  
 18 

	 	
economic rights as those of such Equity Securities of PubCo. Notwithstanding the foregoing, to the extent that any consideration payable by PubCo in connection with the redemption or repurchase
of any shares of Class A Common Stock or other Equity Securities of PubCo or any of its Subsidiaries consists (in whole or in part) of shares of Class A Common Stock or such other Equity Securities (including, for the avoidance of doubt,
in connection with the cashless exercise of an option or warrant), then the redemption or repurchase of the corresponding Units or other Equity Securities of the Company shall be effectuated in an equivalent manner. 

 

	 	(g)	The Company shall not in any manner effect any subdivision (by any equity split, equity distribution, reclassification, recapitalization or otherwise) or combination (by reverse equity split, reclassification,
recapitalization or otherwise) of the outstanding Units unless accompanied by an identical subdivision or combination, as applicable, of the outstanding PubCo Common Stock, with corresponding changes made with respect to any other exchangeable or
convertible securities. PubCo shall not in any manner effect any subdivision (by any equity split, equity distribution, reclassification, recapitalization or otherwise) or combination (by reverse equity split, reclassification, recapitalization or
otherwise) of the outstanding PubCo Common Stock unless accompanied by an identical subdivision or combination, as applicable, of the outstanding Units, with corresponding changes made with respect to any other exchangeable or convertible
securities. 

  

	 	(h)	Notwithstanding any other provision of this Agreement (including Section 4.1(e)), if PubCo receives Tax Distributions in an amount in excess of the amount that will enable PubCo to meet its U.S. federal, state
and local and non-U.S. tax obligations and its obligations under the Tax Receivable Agreements or holds any other excess cash amount, PubCo may, in its sole discretion, contribute such excess cash amount to
the Company in exchange for a number of Units or other Equity Securities of the Company determined in its sole discretion, and distribute to the holders of Class A Common Stock shares of Class A Common Stock (if the Company issues Units to
PubCo) or such other Equity Security of PubCo (if the Company issues Equity Securities of the Company other than Units) corresponding to the Equity Securities issued by the Company and with substantially the same rights to dividends and
distributions (including distributions upon liquidation) and other economic rights as those of such Equity Securities of the Company issued. 

Section 4.2 Voting Rights. No Member has any voting right except with respect to those matters specifically reserved for a
Member vote under the Act and for matters expressly requiring the approval of Members under this Agreement. Except as otherwise required by the Act, each Unit will entitle the holder thereof to one vote on all matters to be voted on by the Members.
Except as otherwise expressly provided in this Agreement, the holders of Units having voting rights will vote together as a single class on all matters to be approved by the Members. 

  
 19 

 Section 4.3 Capital Contributions; Unit Ownership. 

 

	 	(a)	Capital Contributions. Except as otherwise set forth in Section 4.1(e) with respect to the obligations of PubCo, no Member shall be required to make additional Capital Contributions. 

 

	 	(b)	Issuance of Additional Units or Interests. Except as otherwise expressly provided in this Agreement, the Managing Member shall have the right to authorize and cause the Company to issue on such terms (including
price) as may be determined by the Managing Member (i) subject to the limitations of Section 4.1, additional Units or other Equity Securities in the Company (including creating preferred interests or other classes or
series of interests having such rights, preferences and privileges as determined by the Managing Member, which rights, preferences and privileges may be senior to the Units), and (ii) obligations, evidences of Indebtedness or other securities
or interests convertible or exchangeable for Units or other Equity Securities in the Company; provided that, at any time following the date hereof, in each case the Company shall not issue Equity Securities in the Company to any Person unless
such Person shall have executed a counterpart to this Agreement and all other documents, agreements or instruments deemed necessary or desirable in the discretion of the Managing Member. Upon such issuance and execution, such Person shall be
admitted as a Member of the Company. In that event, the Managing Member shall amend Exhibit A to reflect such additional issuances. Subject to Section 12.1, the Managing Member is hereby authorized to amend this
Agreement to set forth the designations, preferences, rights, powers and duties of such additional Units or other Equity Securities in the Company, or such other amendments that the Managing Member determines to be otherwise necessary or appropriate
in connection with the creation, authorization or issuance of, any class or series of Units or other Equity Securities in the Company pursuant to this Section 4.3(b); provided that, notwithstanding the foregoing, the Managing Member
shall have the right to amend this Agreement as set forth in this sentence without the approval of any other Person (including any Member) and notwithstanding any other provision of this Agreement (including Section 12.1)
if such amendment is necessary, and then only to the extent necessary, in order to consummate any offering of shares of PubCo Common Stock or other Equity Securities of PubCo provided that the designations, preferences, rights, powers and duties of
any such additional Units or other Equity Securities of the Company as set forth in such amendment are substantially similar to those applicable to such shares of PubCo Common Stock or other Equity Securities of PubCo. 

Section 4.4 Capital Accounts. A Capital Account shall be maintained for each Member in accordance with the provisions of
Treasury Regulations Section 1.704-1(b)(2)(iv) and, to the extent consistent with such regulations, the other provisions of this Agreement. Each Member’s Capital Account balance as of the date hereof
shall be equal to the amount of its respective Closing Date Capital Account Balance set forth opposite such Member’s name on Exhibit A. Thereafter, each Member’s Capital Account shall be (a) increased by (i) allocations to
such Member of Profits pursuant to Section 5.1 and any other items of income or gain 

  
 20 

 
allocated to such Member pursuant to Section 5.2, (ii) the amount of additional cash or the initial Gross Asset Value of any asset (net of any Liabilities assumed by the
Company and any Liabilities to which the asset is subject) contributed to the Company by such Member, and (iii) any other increases allowed or required by Treasury Regulations
Section 1.704-1(b)(2)(iv), and (b) decreased by (i) allocations to such Member of Losses pursuant to Section 5.1 and any other items of deduction or loss allocated to
such Member pursuant to the provisions of Section 5.2, (ii) the amount of any cash or the Gross Asset Value of any asset (net of any Liabilities assumed by the Member and any Liabilities to which the asset is subject)
distributed to such Member, and (iii) any other decreases allowed or required by Treasury Regulations Section 1.704-1(b)(2)(iv). In the event of a Transfer of Units made in accordance with this
Agreement (including a deemed Transfer for U.S. federal income tax purposes as described in Section 4.6(a)(iv)), the Capital Account of the Transferor that is attributable to the Transferred Units shall carry over to the Transferee Member in
accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv)(l). 

Section 4.5 Other Matters. 
  

	 	(a)	No Member shall demand or receive a return on or of its Capital Contributions or withdraw from the Company without the consent of the Managing Member. Under circumstances requiring a return of any Capital Contributions,
no Member has the right to receive property other than cash. 

  

	 	(b)	No Member shall receive any interest, salary, compensation, draw or reimbursement with respect to its Capital Contributions or its Capital Account, or for services rendered or expenses incurred on behalf of the Company
or otherwise in its capacity as a Member, except as otherwise provided in Section 7.9 or as otherwise contemplated by this Agreement. 

  

	 	(c)	The Liability of each Member shall be limited as set forth in the Act and other applicable Law and, except as expressly set forth in this Agreement or required by Law, no Member (or any of its Affiliates) shall be
personally liable, whether to the Company, any of the other Members, the creditors of the Company, or any other third party, for any debt or Liability of the Company, whether arising in contract, tort or otherwise, solely by reason of being a Member
of the Company. 

  

	 	(d)	Except as otherwise required by the Act, a Member shall not be required to restore a deficit balance in such Member’s Capital Account, to lend any funds to the Company or, except as otherwise set forth herein, to
make any additional contributions or payments to the Company. 

  

	 	(e)	The Company shall not be obligated to repay any Capital Contributions of any Member. 

Section 4.6 Redemption of Units. 
  

	 	(a)	     

  
 21 

	 	(i)	Upon the terms and subject to the conditions set forth in this Section 4.6, each of the Members (other than PubCo and its wholly owned Subsidiaries) (the “Redeeming
Member”) shall be entitled to cause the Company to redeem all or a portion of such Member’s Units (together with the surrender and delivery of the same number of shares of Class B Common Stock) for an equivalent number of
shares of Class A Common Stock (a “Redemption”) or, at the Company’s election made in accordance with Section 4.6(a)(iii), cash equal to the Cash Election Amount calculated with respect to such Redemption.
Absent the prior written consent of the Managing Member, with respect to each Redemption, a Redeeming Member shall be (A) required to redeem at least a number of Units equal to the lesser of [•] Units and all of the Units then held by such
Redeeming Member and (B) permitted to effect a Redemption of Units no more frequently than once per calendar quarter. The Managing Member may, in its discretion, adopt a policy to limit quarterly exchanges to a particular period during each
quarter. Notwithstanding the foregoing, a Redeeming Member may redeem all of such Member’s Units or at least [•] Units at any time. Upon the Redemption of all of a Member’s Units, such Member shall, for the avoidance of doubt, cease
to be a Member of the Company. 

  

	 	(ii)	In order to exercise the redemption right under Section 4.6(a)(i), the Redeeming Member shall provide written notice (the “Redemption Notice”) to the Company, with a copy to PubCo (the
date of delivery of such Redemption Notice, the “Redemption Notice Date”), stating: 

  

	 	(A)	the number of Units (together with the surrender and delivery of an equal number of shares of Class B Common Stock) the Redeeming Member elects to have the Company redeem; 

 

	 	(B)	if the shares of Class A Common Stock to be received are to be issued other than in the name of the Redeeming Member, the name(s) of the Person(s) in whose name or on whose order the shares of Class A Common
Stock are to be issued; 

  

	 	(C)	whether the exercise of the redemption right is to be contingent (including as to timing) upon the closing of an underwritten offering of the shares Class A Common Stock for which the Units will be redeemed or the
closing of an announced merger, consolidation or other transaction or event to which PubCo is a party in which the shares of Class A Common Stock would be exchanged or converted or become exchangeable for or convertible into cash or other
securities or property; and 

  

	 	(D)	if the Redeeming Member requires the Redemption to take place on a specific date, such date, provided that, any such specified date shall not be earlier than the date that would otherwise apply pursuant to clause
(a) of the definition of Redemption Date. 

  
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 If the Units to be redeemed (or the shares of Class B Common Stock to be transferred and
surrendered) by the Redeeming Member are represented by a certificate or certificates, prior to the Redemption Date, the Redeeming Member shall also present and surrender such certificate or certificates representing such Units (or shares of
Class B Common Stock) during normal business hours at the principal executive offices of the Company, or if any agent for the registration or transfer of Class A Common Stock is then duly appointed and acting (the “Transfer
Agent”), at the office of the Transfer Agent. If required by the Managing Member, any certificate for Units and any certificate for shares of Class B Common Stock (in each case, if certificated) surrendered to the Company hereunder
shall be accompanied by instruments of transfer, in forms reasonably satisfactory to the Managing Member and the Transfer Agent, duly executed by the Redeeming Member or the Redeeming Member’s duly authorized representative. 

 

	 	(iii)	Upon receipt of a Redemption Notice, the Company shall be entitled to elect (a “Cash Election”) to settle the Redemption by delivering to the Redeeming Member, in lieu of the applicable number of
shares of Class A Common Stock that would be received in such Redemption, an amount of cash equal to the Cash Election Amount for such Redemption. In order to make a Cash Election with respect to a Redemption, the Company must provide written
notice of such election to the Redeeming Member (with a copy to PubCo) prior to 1:00 p.m., Houston time, on or prior to the third Business Day after the Redemption Notice Date. If the Company fails to provide such written notice prior to such time,
it shall not be entitled to make a Cash Election with respect to such Redemption. 

  

	 	(iv)	For U.S. federal income (and applicable state and local) tax purposes, each of the Redeeming Member, the Company and PubCo, as the case may be, agree to treat each Redemption and, in the event PubCo exercises its Call
Right, each transaction between the Redeeming Member and PubCo, as a sale of the Redeeming Member’s Units (together with the same number of shares of Class B Common Stock) to PubCo in exchange for shares of Class A Common Stock or
cash, as applicable. 

  

	 	(b)	     

  

	 	(i)	 Subject to the satisfaction of any contingency described in Section 4.6(a)(ii)(C) that is
specified in the relevant Redemption Notice, the Redemption shall be completed on the Redemption Date; provided, that if a valid Cash Election has not been made, the Redeeming Member may, at any time prior to the Redemption Date, revoke its
Redemption Notice by giving written notice (the “Retraction Notice”) to the Company (with a 

  
 23 

	 	
copy to PubCo); provided, however, that in no event may the Redeeming Member deliver more than one Retraction Notice in any calendar quarter; provided further, that if PubCo
has not complied with its obligations under Sections 2(a) or (b) of the Registration Rights Agreement with respect to the Redeeming Member at the time of delivery of a Retraction Notice, such notice shall not be subject to the quarterly
limitation in the immediately preceding clause. The timely delivery of a Retraction Notice shall terminate all of the Redeeming Member’s, the Company’s and PubCo’s rights and obligations arising from the retracted Redemption Notice.

  

	 	(ii)	Unless the Redeeming Member has timely delivered a Retraction Notice as provided in Section 4.6(b)(i) or PubCo has elected its Call Right pursuant to Section 4.6(f), on the Redemption Date (to be effective
immediately prior to the close of business on the Redemption Date) (A) the Redeeming Member shall transfer and surrender the Units to be redeemed (and a corresponding number of shares of Class B Common Stock) to the Company, in each case
free and clear of all liens and encumbrances, (B) PubCo shall contribute to the Company the consideration the Redeeming Member is entitled to receive under Section 4.6(a)(i) and, as described in Section 4.1(e), the Company shall
issue to PubCo a number of Units or other Equity Securities of the Company as consideration for such contribution, (C) the Company shall (x) cancel the redeemed Units, (y) transfer to the Redeeming Member the consideration the
Redeeming Member is entitled to receive under Section 4.6(a)(i), and (z) if the Units are certificated, issue to the Redeeming Member a certificate for a number of Units equal to the difference (if any) between the number of Units
evidenced by the certificate surrendered by the Redeeming Member pursuant to clause (ii)(A) of this Section 4.6(b) and the number of redeemed Units, and (D) PubCo shall cancel the surrendered shares of Class B Common Stock.
Notwithstanding any other provisions of this Agreement to the contrary, in the event that the Company makes a valid Cash Election, PubCo shall only be obligated to contribute to the Company an amount in cash equal to the net proceeds (after
deduction of any Discount) from the sale by PubCo of a number of shares of Class A Common Stock equal to the number of Units and Class B Common Stock to be redeemed with such cash or from the sale of other PubCo Equity Securities used to
fund the Cash Election Amount; provided that PubCo’s Capital Account shall be adjusted in accordance with Section 7.9; provided further, that the contribution of such net proceeds shall in no event affect
the Redeeming Member’s right to receive the Cash Election Amount. 

  

	 	(c)	 If (i) there is any reclassification, reorganization, recapitalization or other similar transaction pursuant
to which the shares of Class A Common Stock are converted or changed into another security, securities or other property (other than as a result of a subdivision or combination or any transaction subject to Section 

  
 24 

	 	
4.1(g)), or (ii) PubCo, by dividend or otherwise, distributes to all holders of the shares of Class A Common Stock evidences of its Indebtedness or assets, including securities
(including shares of Class A Common Stock and any rights, options or warrants to all holders of the shares of Class A Common Stock to subscribe for or to purchase or to otherwise acquire shares of Class A Common Stock, or other
securities or rights convertible into, exchangeable for or exercisable for shares of Class A Common Stock) but excluding (A) any cash dividend or distribution, or (B) any such distribution of Indebtedness or assets, in either case
(A) or (B) received by PubCo from the Company in respect of the Units, then upon any subsequent Redemption, in addition to the shares of Class A Common Stock or the Cash Election Amount, as applicable, each Member shall be entitled to
receive the amount of such security, securities or other property that such Member would have received if such Redemption had occurred immediately prior to the effective date of such reclassification, reorganization, recapitalization, other similar
transaction, dividend or other distribution, taking into account any adjustment as a result of any subdivision (by any split, distribution or dividend, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse
split, reclassification, recapitalization or otherwise) of such security, securities or other property that occurs after the effective time of such reclassification, reorganization, recapitalization or other similar transaction. For the avoidance of
doubt, if there is any reclassification, reorganization, recapitalization or other similar transaction in which the shares of Class A Common Stock are converted or changed into another security, securities or other property, or any dividend or
distribution (other than an excluded dividend or distribution, as described above), this Section 4.6 shall continue to be applicable, mutatis mutandis, with respect to such security or other property. This Agreement
shall apply to the Units held by the Members and their Permitted Transferees as of the date hereof, as well as any Units hereafter acquired by a Member and his or her or its Permitted Transferees. 

 

	 	(d)	PubCo shall at all times keep available, solely for the purpose of issuance upon a Redemption, out of its authorized but unissued shares of Class A Common Stock, such number of shares of Class A Common Stock
that shall be issuable upon the Redemption of all outstanding Units (other than those Units held by PubCo or any Subsidiary of PubCo); provided, that nothing contained herein shall be construed to preclude PubCo from satisfying its
obligations with respect to a Redemption by delivery of cash pursuant to a Cash Election or shares of Class A Common Stock that are held in the treasury of PubCo. PubCo covenants that all shares of Class A Common Stock that shall be issued
upon a Redemption shall, upon issuance thereof, be validly issued, fully paid and non-assessable. In addition, for so long as the shares of Class A Common Stock are listed on a National Securities
Exchange, PubCo shall use its reasonable best efforts to cause all shares of Class A Common Stock issued upon a Redemption to be listed on such National Securities Exchange at the time of such issuance. 

  
 25 

	 	(e)	The issuance of shares of Class A Common Stock upon a Redemption shall be made without charge to the Redeeming Member for any stamp or other similar tax in respect of such issuance; provided, however,
that if any such shares of Class A Common Stock are to be issued in a name other than that of the Redeeming Member, then the Person or Persons in whose name the shares are to be issued shall pay to PubCo the amount of any tax that may be
payable in respect of any transfer involved in such issuance or shall establish to the reasonable satisfaction of PubCo that such tax has been paid or is not payable. 

 

	 	(f)	     

  

	 	(i)	Notwithstanding anything to the contrary in this Section 4.6, but subject to Section 4.6(g), a Redeeming Member shall be deemed to have offered to sell its Units as described in the
Redemption Notice to PubCo, and PubCo may, in its sole discretion, by means of delivery of a Call Election Notice in accordance with, and subject to the terms of, this Section 4.6(f), elect to purchase directly and acquire such Units
(together with the surrender and delivery of the same number of shares of Class B Common Stock) on the Redemption Date by paying to the Redeeming Member (or, on the Redeeming Member’s written order, its designee) that number of shares of
Class A Common Stock the Redeeming Member (or its designee) would otherwise receive pursuant to Section 4.6(a)(i) or, at PubCo’s election, an amount of cash equal to the Cash Election Amount of such shares of Class A Common
Stock (the “Call Right”), whereupon PubCo shall acquire the Units offered for redemption by the Redeeming Member (together with the surrender and delivery of the same number of shares of Class B Common Stock to PubCo for
cancellation). PubCo shall be treated for all purposes of this Agreement as the owner of such Units; provided that if PubCo funds the Cash Election Amount other than through the issuance of shares of Class A Common Stock, such Units will
be reclassified into another Equity Security of the Company if the Managing Member determines such reclassification is necessary. 

  

	 	(ii)	PubCo may, at any time prior to the Redemption Date, in its sole discretion deliver written notice (a “Call Election Notice”) to the Company and the Redeeming Member setting forth its election to
exercise its Call Right. A Call Election Notice may be revoked by PubCo at any time; provided that any such revocation does not prejudice the ability of the parties to consummate a Redemption on the Redemption Date. Except as otherwise
provided by this Section 4.6(f), an exercise of the Call Right shall be consummated pursuant to the same timeframe and in the same manner as the relevant Redemption would have been consummated if PubCo had not delivered a Call Election
Notice. 

  

	 	(g)	 In connection with a PubCo Change of Control, PubCo shall have the right, in its sole discretion, to require each
Member (other than PubCo and its wholly owned Subsidiaries) to effect a Redemption of some or all of such Member’s Units (together with the surrender and delivery of the same number of shares of Class B Common Stock); provided that
a Cash Election shall not be permitted pursuant 

  
 26 

	 	
to such a Redemption under this Section 4.6(g). Any Redemption pursuant to this Section 4.6(g) shall be effective immediately prior to the consummation of the PubCo Change of
Control (and, for the avoidance of doubt, shall not be effective if such PubCo Change of Control is not consummated) (the “Change of Control Redemption Date”). From and after the Change of Control Redemption Date,
(i) the Units and shares of Class B Common Stock subject to such Redemption shall be deemed to be transferred to PubCo on the Change of Control Redemption Date and (ii) such Member shall cease to have any rights with respect to the
Units and shares of Class B Common Stock subject to such Redemption (other than the right to receive shares of Class A Common Stock pursuant to such Redemption). PubCo shall provide written notice of an expected PubCo Change of Control to
all Members within the earlier of (x) five (5) Business Days following the execution of the agreement with respect to such PubCo Change of Control and (y) ten (10) Business Days before the proposed date upon which the contemplated PubCo
Change of Control is to be effected, indicating in such notice such information as may reasonably describe the PubCo Change of Control transaction, subject to applicable law, including the date of execution of such agreement or such proposed
effective date, as applicable, the amount and types of consideration to be paid for shares of Class A Common Stock in the PubCo Change of Control, any election with respect to types of consideration that a holder of shares of Class A
Common Stock, as applicable, shall be entitled to make in connection with such PubCo Change of Control, and the number of Units (and corresponding shares of Class B Common Stock) held by such Member that PubCo intends to require to be subject
to such Redemption. Following delivery of such notice and on or prior to the Change of Control Redemption Date, the Members shall take all actions reasonably requested by PubCo to effect such Redemption, including taking any action and delivering
any document required pursuant to the remainder of this Section 4.6 to effect a Redemption. 

  

	 	(h)	 In the event that (i) the Members (other than PubCo and its wholly owned Subsidiaries) beneficially own, in
the aggregate, less than 10% of the then outstanding Units and (ii) the Class A Common Stock is listed or admitted to trading on a National Securities Exchange, PubCo shall have the right, in its sole discretion, to require any Member
(other than PubCo and its wholly owned Subsidiaries) that beneficially owns less than 5% of the then outstanding Units, to effect a Redemption of some or all of such Member’s Units (together with the surrender and delivery of the same number of
shares of Class B Common Stock); provided that a Cash Election shall not be permitted pursuant to such a Redemption under this Section 4.6(h). PubCo shall deliver written notice to the Company and any such Member of its intention
to exercise its Redemption right pursuant to this Section 4.6(h) (a “Minority Member Redemption Notice”) at least five (5) Business Days prior to the proposed date upon which such Redemption is to be effected
(such proposed date, the “Minority Member Redemption Date”), indicating in such notice the number of Units (and corresponding shares of Class B Common Stock) held by such Member that PubCo intends to require to be
subject to such Redemption. Any Redemption pursuant to this Section 4.6(h) shall be effective on the Minority Member 

  
 27 

	 	
Redemption Date. From and after the Minority Member Redemption Date, (i) the Units and shares of Class B Common Stock subject to such Redemption shall be deemed to be transferred to
PubCo on the Minority Member Redemption Date and (ii) such Member shall cease to have any rights with respect to the Units and shares of Class B Common Stock subject to such Redemption (other than the right to receive shares of
Class A Common Stock pursuant to such Redemption). Following delivery of a Minority Member Redemption Notice and on or prior to the Minority Member Redemption Date, the Members shall take all actions reasonably requested by PubCo to effect such
Redemption, including taking any action and delivering any document required pursuant to the remainder of this Section 4.6 to effect a Redemption. 

 

	 	(i)	No Redemption shall impair the right of the Redeeming Member to receive any distributions payable on the Units redeemed pursuant to such Redemption in respect of a record date that occurs prior to the Redemption Date
for such Redemption. For the avoidance of doubt, no Redeeming Member, or a Person designated by a Redeeming Member to receive shares of Class A Common Stock, shall be entitled to receive, with respect to such record date, distributions or
dividends both on Units redeemed by the Company from such Redeeming Member and on shares of Class A Common Stock received by such Redeeming Member, or other Person so designated, if applicable, in such Redemption. 

 

	 	(j)	Any Units acquired by the Company under this Section 4.6 and transferred by the Company to PubCo shall remain outstanding and shall not be cancelled as a result of their acquisition by the
Company. Notwithstanding any other provision of this Agreement, PubCo shall be automatically admitted as a Member of the Company with respect to any Units or other Equity Securities in the Company it receives under this Agreement (including under
this Section 4.6 in connection with any Redemption). 

  

	 	(k)	The Managing Member may impose additional limitations and restrictions on Redemptions (including limiting Redemptions or creating priority procedures for Redemptions), to the extent it determines, in its sole
discretion, such limitations and restrictions to be necessary or appropriate to avoid undue risk that the Company may be classified as a “publicly traded partnership” within the meaning of Section 7704 of the Code. Furthermore, the
Managing Member may require any Member or group of Members to redeem all of their Units to the extent it determines, in its sole discretion, that such Redemption is necessary or appropriate to avoid undue risk that the Company may be classified as a
“publicly traded partnership” within the meaning of Section 7704 of the Code. Upon delivery of any notice by the Managing Member to such Member or group of Members requiring such Redemption, such Member or group of Members shall
exchange, subject to exercise by PubCo of its Call Right pursuant to Section 4.6(f)(i), all of their Units effective as of the date specified in such notice (and such date shall be deemed to be a Redemption Date for purposes of this Agreement) in
accordance with this Section 4.6 and otherwise in accordance with the requirements set forth in such notice. 

  
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 ARTICLE V 

ALLOCATIONS OF PROFITS AND LOSSES 

Section 5.1 Profits and Losses. After giving effect to the allocations under Section 5.2 and
subject to Section 5.4, Profits and Losses (and, to the extent determined by the Managing Member to be necessary and appropriate to achieve the resulting Capital Account balances described below, any allocable items of
income, gain, loss, deduction or credit includable in the computation of Profits and Losses) for each Fiscal Year or other taxable period shall be allocated among the Members during such Fiscal Year or other taxable period in a manner such that,
after giving effect to the special allocations set forth in Section 5.2 and all distributions through the end of such Fiscal Year or other taxable period, the Capital Account balance of each Member, immediately after making
such allocation, is, as nearly as possible, equal to (i) the amount such Member would receive pursuant to Section 11.3(b) if all assets of the Company on hand at the end of such Fiscal Year or other taxable period were sold for cash
equal to their Gross Asset Values, all liabilities of the Company were satisfied in cash in accordance with their terms (limited with respect to each nonrecourse liability to the Gross Asset Value of the assets securing such liability), and all
remaining or resulting cash was distributed, in accordance with Section 11.3(b), to the Members immediately after making such allocation, minus (ii) such Member’s share of Company Minimum Gain and Member Minimum Gain,
computed immediately prior to the hypothetical sale of assets, and the amount any such Member is treated as obligated to contribute to the Company, computed immediately after the hypothetical sale of assets. 

Section 5.2 Special Allocations. 
  

	 	(a)	Nonrecourse Deductions for any Fiscal Year or other taxable period shall be specially allocated to the Members on a pro rata basis, in accordance with the number of Units owned by each Member as of the last day
of such Fiscal Year or other taxable period. The amount of Nonrecourse Deductions for a Fiscal Year or other taxable period shall equal the excess, if any, of the net increase, if any, in the amount of Company Minimum Gain during that Fiscal Year or
other taxable period over the aggregate amount of any distributions during that Fiscal Year or other taxable period of proceeds of a Nonrecourse Liability that are allocable to an increase in Company Minimum Gain, determined in accordance with the
provisions of Treasury Regulations Section 1.704-2(d). 

  

	 	(b)	Any Member Nonrecourse Deductions for any Fiscal Year or other taxable period shall be specially allocated to the Member who bears economic risk of loss with respect to the Member Nonrecourse Debt to which such Member
Nonrecourse Deductions are attributable in accordance with Treasury Regulations Section 1.704-2(i). If more than one Member bears the economic risk of loss for such Member Nonrecourse Debt, the Member
Nonrecourse Deductions attributable to such Member Nonrecourse Debt shall be allocated among the Members according to the ratio in which they bear the economic risk of loss. This Section 5.2(b) is intended to comply with the provisions of
Treasury Regulations Section 1.704-2(i) and shall be interpreted consistently therewith. 

  
 29 

	 	(c)	Notwithstanding any other provision of this Agreement to the contrary, if there is a net decrease in Company Minimum Gain during any Fiscal Year or other taxable period (or if there was a net decrease in Company Minimum
Gain for a prior Fiscal Year or other taxable period and the Company did not have sufficient amounts of income and gain during prior periods to allocate among the Members under this Section 5.2(c)), each Member shall be specially allocated
items of Company income and gain for such Fiscal Year or other taxable period in an amount equal to such Member’s share of the net decrease in Company Minimum Gain during such year (as determined pursuant to Treasury Regulations Section 1.704-2(g)(2)). This section is intended to constitute a minimum gain chargeback under Treasury Regulations Section 1.704-2(f) and shall be interpreted
consistently therewith. 

  

	 	(d)	Notwithstanding any other provision of this Agreement except Section 5.2(c), if there is a net decrease in Member Minimum Gain during any Fiscal Year or other taxable period (or if there was a net decrease in
Member Minimum Gain for a prior Fiscal Year or other taxable period and the Company did not have sufficient amounts of income and gain during prior periods to allocate among the Members under this Section 5.2(d)), each Member shall be
specially allocated items of Company income and gain for such year in an amount equal to such Member’s share of the net decrease in Member Minimum Gain (as determined pursuant to Treasury Regulations
Section 1.704-2(i)(4)). This section is intended to constitute a partner nonrecourse debt minimum gain chargeback under Treasury Regulations
Section 1.704-2(i)(4) and shall be interpreted consistently therewith. 

  

	 	(e)	Notwithstanding any provision hereof to the contrary except Section 5.2(a) and Section 5.2(b), no Losses or other items of loss or expense shall be allocated to any Member to the extent that such
allocation would cause such Member to have an Adjusted Capital Account Deficit (or increase any existing Adjusted Capital Account Deficit) at the end of such Fiscal Year or other taxable period. All Losses and other items of loss and expense in
excess of the limitation set forth in this Section 5.2(e) shall be allocated to the Members who do not have an Adjusted Capital Account Deficit in proportion to their relative positive Capital Accounts but only to the extent that such Losses
and other items of loss and expense do not cause any such Member to have an Adjusted Capital Account Deficit. 

  

	 	(f)	Notwithstanding any provision hereof to the contrary except Section 5.2(c) and Section 5.2(d), in the event any Member unexpectedly receives any adjustment, allocation or distribution described in
paragraph (4), (5) or (6) of Treasury Regulations Section 1.704-1(b)(2)(ii)(d), items of income and gain (consisting of a pro rata portion of each item of income, including gross
income, and gain for the Fiscal Year or other taxable period) shall be specially allocated to such Member in an amount and manner sufficient to eliminate any Adjusted Capital Account Deficit of that Member as quickly as possible; provided that an
allocation pursuant to this Section 5.2(f) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit after all other allocations provided for in this Article V have been tentatively made as
if this Section 5.2(f) were not in this Agreement. This Section 5.2(f) is intended to constitute a qualified income offset under Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently
therewith. 

  
 30 

	 	(g)	If any Member has a deficit balance in its Capital Account at the end of any Fiscal Year or other taxable period that is in excess of the sum of (i) the amount that such Member is obligated to restore and
(ii) the amount that the Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulations Sections 1.704-2(g)(1) and (i)(5), that Member shall be specially
allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 5.2(g) shall be made only if and to the extent that such Member would have a deficit balance
in its Capital Account in excess of such sum after all other allocations provided for in this Article V have been made as if Section 5.2(f) and this Section 5.2(g) were not in this Agreement. 

 

	 	(h)	To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Code Sections 734(b) or 743(b) is required, pursuant to Treasury Regulations
Section 1.704-1(b)(2)(iv)(m)(2) or 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as a result of a distribution to
any Member in complete liquidation of such Member’s Interest in the Company, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the
adjustment decreases such basis) and such item of gain or loss shall be allocated to the Members in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(2) if such section applies or
to the Member to whom such distribution was made if Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies. 

 

	 	(i)	The allocations set forth in Sections 5.2(a) through 5.2(h) (the “Regulatory Allocations”) are intended to comply with certain requirements of Treasury
Regulations Sections 1.704-1(b) and 1.704-2. Notwithstanding any other provision of this Article V (other than the Regulatory Allocations), the Regulatory
Allocations (and anticipated future Regulatory Allocations) shall be taken into account in allocating other items of income, gain, loss and deduction among the Members so that, to the extent possible, the net amount of such allocation of other items
and the Regulatory Allocations to each Member should be equal to the net amount that would have been allocated to each such Member if the Regulatory Allocations had not occurred. This Section 5.2(i) is intended to minimize to the extent
possible and to the extent necessary any economic distortions which may result from application of the Regulatory Allocations and shall be interpreted in a manner consistent therewith. 

Section 5.3 Allocations for Tax Purposes in General. 

 

	 	(a)	Except as otherwise provided in this Section 5.3, each item of income, gain, loss and deduction of the Company for U.S. federal income tax purposes shall be allocated among the Members in the
same manner as such item is allocated under Sections 5.1 and 5.2. 

  
 31 

	 	(b)	In accordance with Code Section 704(c) and the Treasury Regulations thereunder (including the Treasury Regulations applying the principles of Code Section 704(c) to changes in Gross Asset Values), items
of income, gain, loss and deduction with respect to any Company property having a Gross Asset Value that differs from such property’s adjusted U.S. federal income tax basis shall, solely for U.S. federal income tax purposes, be allocated among
the Members to account for any such difference using such method or methods determined by the Managing Member to be appropriate and in accordance with the applicable Treasury Regulations; provided, that the Managing Member will use the
“traditional method with curative allocations,” with the curative allocations applied only to sale gain, under Treasury Regulations Section 1.704-3(c) with respect to the assets owned by the
Company at the time of the IPO. 

  

	 	(c)	Any (i) recapture of depreciation or any other item of deduction shall be allocated, in accordance with Treasury Regulations Sections 1.1245-1(e) and 1.1254-5, to the Members who received the benefit of such deductions, and (ii) recapture of credits shall be allocated to the Members in accordance with applicable law. 

 

	 	(d)	Allocations pursuant to this Section 5.3 are solely for purposes of U.S. federal, state and local taxes and shall not affect or in any way be taken into account in computing any Member’s
Capital Account or share of Profits, Losses, other items or distributions pursuant to any provision of this Agreement. 

  

	 	(e)	If, as a result of an exercise of a noncompensatory option to acquire an interest in the Company, a Capital Account reallocation is required under Treasury Regulations
Section 1.704-1(b)(2)(iv)(s)(3), the Company shall make corrective allocations pursuant to Treasury Regulations Section 1.704-1(b)(4)(x).

 Section 5.4 Other Allocation Rules. 

 

	 	(a)	The Members are aware of the income tax consequences of the allocations made by this Article V and the economic impact of the allocations on the amounts receivable by them under this Agreement. The Members hereby
agree to be bound by the provisions of this Article V in reporting their share of Company income and loss for income tax purposes. 

  

	 	(b)	The provisions regarding the establishment and maintenance for each Member of a Capital Account as provided by Section 4.4 and the allocations set forth in
Sections 5.1, 5.2 and 5.3 are intended to comply with the Treasury Regulations and to reflect the intended economic entitlement of the Members. If the Managing Member determines, in its sole discretion, that
the application of the provisions in Sections 4.4, 5.1, 5.2 or 5.3 would result in non-compliance with the Treasury Regulations or would be inconsistent with the
intended economic entitlement of the Members, the Managing Member is authorized to make any appropriate adjustments to such provisions. 

  
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	 	(c)	All items of income, gain, loss, deduction and credit allocable to an interest in the Company that may have been Transferred shall be allocated between the Transferor and the Transferee based on the portion of the
Fiscal Year or other taxable period during which each was recognized as the owner of such interest, without regard to the results of Company operations during any particular portion of that year and without regard to whether cash distributions were
made to the Transferor or the Transferee during that year; provided, however, that this allocation must be made in accordance with a method permissible under Code Section 706 and the Treasury Regulations thereunder. 

 

	 	(d)	The Members’ proportionate shares of the “excess nonrecourse liabilities” of the Company, within the meaning of Treasury Regulations Section 1.752-3(a)(3),
shall be allocated to the Members on a pro rata basis, in accordance with the number of Units owned by each Member. 

ARTICLE VI 

DISTRIBUTIONS 

Section 6.1 Distributions. 
  

	 	(a)	Distributions. To the extent permitted by applicable Law and hereunder, and except as otherwise provided in Section 11.3, distributions to Members may be declared by the Managing Member
out of funds legally available therefor in such amounts and on such terms (including the payment dates of such distributions) as the Managing Member shall determine using such record date as the Managing Member may designate; any such distribution
shall be made to the Members as of the close of business on such record date on a pro rata basis (except that, for the avoidance of doubt, repurchases or redemptions made in accordance with Section 4.1(f) or payments made in accordance
with Sections 7.4 or 7.9 need not be on a pro rata basis), in accordance with the number of Units owned by each Member as of the close of business on such record date; provided, however, that the
Managing Member shall have the obligation to make distributions as set forth in Sections 6.2 and 11.3(b)(iii); and provided, further, that, notwithstanding any other provision herein to the contrary, no
distributions shall be made to any Member to the extent such distribution would render the Company insolvent or violate the Act. For purposes of the foregoing sentence, insolvency means the inability of the Company to meet its payment obligations
when due. Promptly following the designation of a record date and the declaration of a distribution pursuant to this Section 6.1, the Managing Member shall give notice to each Member of the record date, the amount and the
terms of the distribution and the payment date thereof. 

  
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	 	(b)	Successors. For purposes of determining the amount of distributions, each Member shall be treated as having made the Capital Contributions and as having received the distributions made to or received by its
predecessors in respect of any of such Member’s Units. 

  

	 	(c)	Distributions In-Kind. Except as otherwise provided in this Agreement, any distributions may be made in cash or in kind, or partly in cash and partly in kind, as determined
by the Managing Member. To the extent that the Company distributes property in-kind to the Members, the Company shall be treated as making a distribution equal to the Fair Market Value of such property for
purposes of Section 6.1(a) and such property shall be treated as if it were sold for an amount equal to its Fair Market Value. Any resulting gain or loss shall be allocated to the Member’s Capital Accounts in accordance with
Sections 5.1 and 5.2. 

 Section 6.2
Tax-Related Distributions. The Company shall, subject to any restrictions contained in any agreement to which the Company is bound, make distributions out of legally available funds to all
Members on a pro rata basis, in accordance with the number of Units owned by each Member, at such times and in such amounts as the Managing Member reasonably determines is necessary to enable PubCo to (i) timely satisfy all of its U.S.
federal, state and local and non-U.S. tax liabilities, and (ii) timely meet its obligations pursuant to any and all Tax Receivable Agreements. 

Section 6.3 Distribution Upon Withdrawal. No withdrawing Member shall be entitled to receive
any distribution or the value of such Member’s Interest in the Company as a result of withdrawal from the Company prior to the liquidation of the Company, except as specifically provided in this Agreement. 

ARTICLE VII 
 MANAGEMENT

 Section 7.1 The Managing Member; Fiduciary Duties. 

 

	 	(a)	PubCo shall be the sole Managing Member of the Company. Except as otherwise required by Law, (i) the Managing Member shall have full and complete charge of all affairs of the Company, (ii) the management and
control of the Company’s business activities and operations shall rest exclusively with the Managing Member, and the Managing Member shall make all decisions regarding the business, activities and operations of the Company (including the
incurrence of costs and expenses) in its sole discretion without the consent of any other Member and (iii) the Members other than the Managing Member (in their capacity as such) shall not participate in the control, management, direction or
operation of the activities or affairs of the Company and shall have no power to act for or bind the Company. 

  
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	 	(b)	In connection with the performance of its duties as the Managing Member of the Company, except as otherwise set forth herein, the Managing Member acknowledges that it will owe to the Members the same fiduciary duties as
it would owe to the stockholders of a Delaware corporation if it were a member of the board of directors of such a corporation and the Members were stockholders of such corporation. The Members acknowledge that the Managing Member will take action
through its board of directors, and that the members of the Managing Member’s board of directors will owe comparable fiduciary duties to the stockholders of the Managing Member. 

Section 7.2 Officers. 
  

	 	(a)	The Managing Member may appoint, employ or otherwise contract with any Person for the transaction of the business of the Company or the performance of services for or on behalf of the Company, and the Managing Member
may delegate to any such Persons such authority to act on behalf of the Company as the Managing Member may from time to time deem appropriate. 

  

	 	(b)	The initial chief executive officer of the Company (the “Chief Executive Officer”) will be Gregory A. Lanham. 

 

	 	(c)	Except as otherwise set forth herein, the Chief Executive Officer will be responsible for the general and active management of the business of the Company and its Subsidiaries and will see that all orders of the
Managing Member are carried into effect. The Chief Executive Officer will report to the Managing Member and have the general powers and duties of management usually vested in the office of president and chief executive officer of a corporation
organized under the DGCL, subject to the terms of this Agreement, and will have such other powers and duties as may be prescribed by the Managing Member or this Agreement. The Chief Executive Officer will have the power to execute bonds, mortgages
and other contracts requiring a seal, under the seal of the Company, except where required or permitted by Law to be otherwise signed and executed, and except where the signing and execution thereof will be expressly delegated by the Managing Member
to some other Officer or agent of the Company. 

  

	 	(d)	Except as set forth herein, the Managing Member may appoint Officers at any time, and the Officers may include a president, one or more vice presidents, a secretary, one or more assistant secretaries, a chief financial
officer, a general counsel, a treasurer, one or more assistant treasurers, a chief operating officer, an executive chairman, and any other officers that the Managing Member deems appropriate. Except as set forth herein, the Officers will serve at
the pleasure of the Managing Member, subject to all rights, if any, of such Officer under any contract of employment. Any individual may hold any number of offices, and an Officer may, but need not, be a Member of the Company. The Officers will
exercise such powers and perform such duties as specified in this Agreement or as determined from time to time by the Managing Member. 

  
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	 	(e)	Subject to this Agreement and to the rights, if any, of an Officer under a contract of employment, any Officer may be removed, either with or without cause, by the Managing Member. Any Officer may resign at any time by
giving written notice to the Managing Member. Any resignation will take effect at the date of the receipt of that notice or at any later time specified in that notice; and, unless otherwise specified in that notice, the acceptance of the resignation
will not be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Company under any contract to which the Officer is a party. A vacancy in any office because of death, resignation, removal,
disqualification or any other cause will be filled in the manner prescribed in this Agreement for regular appointments to that office. 

Section 7.3 Warranted Reliance by Officers on Others. In exercising their authority and performing their duties under this
Agreement, the Officers shall be entitled to rely on information, opinions, reports, or statements of the following Persons or groups unless they have actual knowledge concerning the matter in question that would cause such reliance to be
unwarranted: 
  

	 	(a)	one or more employees or other agents of the Company or subordinates whom the Officer reasonably believes to be reliable and competent in the matters presented; and 

 

	 	(b)	any attorney, public accountant, or other Person as to matters which the Officer reasonably believes to be within such Person’s professional or expert competence. 

Section 7.4 Indemnification. The Company shall indemnify and hold harmless, to the fullest extent permitted by applicable
Law as it presently exists or may hereafter be amended, any person who was or is made a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative (a “Proceeding”) by reason of the fact that he, or a person for whom he is the legal representative, is or was a Manager entitled to indemnification under the Existing LLC Agreement,
a Member, an Officer, or acting as the Managing Member, Tax Matters Member or Company Representative of the Company or, while a Manager entitled to indemnification under the Existing LLC Agreement, a Member, an Officer, or acting as the, Managing
Member, Tax Matters Member or Company Representative of the Company, is or was serving at the request of the Company as a member, director, officer, trustee, employee or agent of another limited liability company or of a corporation, partnership,
joint venture, trust, other enterprise or nonprofit entity, including service with respect to an employee benefit plan (a “Covered Person”), whether the basis of such Proceeding is alleged action in an official capacity as a
member, director, officer, trustee, employee or agent, or in any other capacity while serving as a member, director, officer, trustee, employee or agent, against all expenses, liability and loss (including, without limitation, attorneys’ fees,
judgments, fines, ERISA excise taxes and penalties and amounts paid in settlement) reasonably incurred or suffered by such Covered Person in connection with such Proceeding. The Company shall, to the fullest extent not prohibited by applicable Law
as it presently exists or may hereafter be amended, pay the expenses (including attorneys’ fees) incurred by a Covered Person in defending any Proceeding in advance of its final disposition; provided, however, that to the extent
required by applicable 

  
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Law, such payment of expenses in advance of the final disposition of the Proceeding shall be made only upon receipt of an undertaking by the Covered Person to repay all amounts advanced if it
should be ultimately determined by final judicial decision from which there is no further right to appeal that the Covered Person is not entitled to be indemnified under this Section 7.4 or otherwise. The rights to
indemnification and advancement of expenses under this Section 7.4 shall be contract rights and such rights shall continue as to a Covered Person who has ceased to be a member, director, officer, trustee, employee or agent
and shall inure to the benefit of his heirs, executors and administrators. Notwithstanding the foregoing provisions of this Section 7.4, except for Proceedings to enforce rights to indemnification and advancement of
expenses, the Company shall indemnify and advance expenses to a Covered Person in connection with a Proceeding (or part thereof) initiated by such Covered Person only if such Proceeding (or part thereof) was authorized by the Managing Member. 

Section 7.5 Maintenance of Insurance or Other Financial Arrangements. In compliance with applicable Law, the Company (with
the approval of the Managing Member) may purchase and maintain insurance or make other financial arrangements on behalf of any Person who is or was a Member, employee or agent of the Company, or at the request of the Company is or was serving as a
manager, director, officer, employee or agent of another limited liability company, corporation, partnership, joint venture, trust or other enterprise, for any Liability asserted against such Person and Liability and expenses incurred by such Person
in such Person’s capacity as such, or arising out of such Person’s status as such, whether or not the Company has the authority to indemnify such Person against such Liability and expenses. 

Section 7.6 Resignation or Termination of Managing Member. PubCo shall not, by any means, resign as, cease to be or be
replaced as Managing Member except in compliance with this Section 7.6. No termination or replacement of PubCo as Managing Member shall be effective unless proper provision is made, in compliance with this Agreement, so
that the obligations of PubCo, its successor (if applicable) and any new Managing Member and the rights of all Members under this Agreement and applicable Law remain in full force and effect. No appointment of a Person other than PubCo (or its
successor, as applicable) as Managing Member shall be effective unless PubCo (or its successor, as applicable) and the new Managing Member (as applicable) provide all other Members with contractual rights, directly enforceable by such other Members
against PubCo (or its successor, as applicable) and the new Managing Member (as applicable), to cause (a) PubCo to comply with all PubCo’s obligations under this Agreement (including its obligations under
Section 4.6) other than those that must necessarily be taken in its capacity as Managing Member and (b) the new Managing Member to comply with all the Managing Member’s obligations under this Agreement. 

Section 7.7 No Inconsistent Obligations. The Managing Member represents that it does not have any contracts, other
agreements, duties or obligations that are inconsistent with its duties and obligations (whether or not in its capacity as Managing Member) under this Agreement and covenants that, except as permitted by Section 7.1, it
will not enter into any contracts or other agreements or undertake or acquire any other duties or obligations that are inconsistent with such duties and obligations. 

  
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 Section 7.8 Reclassification Events of PubCo. If a Reclassification Event
occurs, the Managing Member or its successor, as the case may be, shall, as and to the extent necessary, amend this Agreement in compliance with Section 12.1, and enter into any necessary supplementary or additional
agreements, to ensure that, following the effective date of the Reclassification Event: (i) the redemption rights of holders of Units set forth in Section 4.6 provide that each Unit (together with the surrender and
delivery of one share of Class B Common Stock) is redeemable for the same amount and same type of property, securities or cash (or combination thereof) that one share of Class A Common Stock becomes exchangeable for or converted into as a
result of the Reclassification Event and (ii) PubCo or the successor to PubCo, as applicable, is obligated to deliver such property, securities or cash upon such redemption. PubCo shall not consummate or agree to consummate any Reclassification
Event unless the successor Person, if any, becomes obligated to comply with the obligations of PubCo (in whatever capacity) under this Agreement. 

Section 7.9 Certain Costs and Expenses. The Company shall (i) pay, or cause to be paid, all costs, fees, operating
expenses and other expenses of the Company (including the costs, fees and expenses of attorneys, accountants or other professionals and the compensation of all personnel providing services to the Company) incurred in pursuing and conducting, or
otherwise related to, the activities of the Company, and (ii) in the sole discretion of the Managing Member, reimburse the Managing Member for any costs, fees or expenses incurred by it in connection with serving as the Managing Member. To the
extent that the Managing Member determines in its sole discretion that such expenses are related to the business and affairs of the Managing Member that are conducted through the Company and/or its Subsidiaries (including expenses that relate to the
business and affairs of the Company and/or its Subsidiaries and that also relate to other activities of the Managing Member), the Managing Member may cause the Company to pay or bear all expenses of the Managing Member, including, without
limitation, costs of securities offerings not borne directly by Members, board of directors compensation and meeting costs, costs of periodic reports to its stockholders, litigation costs and damages arising from litigation, accounting and legal
costs; provided that the Company shall not pay or bear any income tax obligations of the Managing Member. In the event that (i) shares of Class A Common Stock or other Equity Securities of PubCo were sold to underwriters in any
public offering after the Effective Time, in each case, at a price per share that is lower than the price per share for which such shares of Class A Common Stock or other Equity Securities of PubCo are sold to the public in such public offering
after taking into account underwriters’ discounts or commissions and brokers’ fees or commissions (including, for the avoidance of doubt, any deferred discounts or commissions and brokers’ fees or commissions payable in connection
with or as a result of such public offering) (such difference, the “Discount”) and (ii) the proceeds from such public offering are used to fund the Cash Election Amount for any redeemed Units or otherwise contributed to
the Company, the Company shall reimburse the Managing Member for such Discount by treating such Discount as an additional Capital Contribution made by the Managing Member to the Company, issuing Units in respect of such deemed Capital Contribution
in accordance with Section 4.6(b)(ii), and increasing the Managing Member’s Capital Account by the amount of such Discount. For the avoidance of doubt, any payments made to or on behalf of the Managing Member pursuant to this
Section 7.9 shall not be treated as a distribution pursuant to Section 6.1(a) but shall instead be treated as an expense of the Company. 

  
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 ARTICLE VIII 

ROLE OF MEMBERS 

Section 8.1 Rights or Powers. 
  

	 	(a)	Other than the Managing Member, the Members, acting in their capacity as Members, shall not have any right or power to take part in the management or control of the Company or its business and affairs or to act for or
bind the Company in any way. Notwithstanding the foregoing, the Members have all the rights and powers specifically set forth in this Agreement and, to the extent not inconsistent with this Agreement, in the Act. A Member, any Affiliate thereof or
an employee, stockholder, agent, director or officer of a Member or any Affiliate thereof, may also be an employee or be retained as an agent of the Company. The existence of these relationships and acting in such capacities will not result in the
Member (other than the Managing Member) being deemed to be participating in the control of the business of the Company or otherwise affect the limited liability of the Member. Except as specifically provided herein, a Member (other than the Managing
Member) shall not, in its capacity as a Member, take part in the operation, management or control of the Company’s business, transact any business in the Company’s name or have the power to sign documents for or otherwise bind the Company.

  

	 	(b)	The Company shall promptly (but in any event within three business days) notify the Members in writing if, to the Company’s knowledge, for any reason, it would be an “investment company” within the
meaning of the Investment Company Act of 1940 (the “Investment Company Act”), as amended, but for the exceptions provided in Section 3(c)(1) or 3(c)(7) thereunder. 

 

	 	(c)	For so long as Wells Fargo holds any interest in the Company, the Company shall upon written request by Wells Fargo at any time, reasonably cooperate with such request, subject to
Section 18-305 of the Act, to provide Wells Fargo with information regarding the nature of the Company’s assets and those of its Subsidiaries, sufficient to allow Wells Fargo to determine whether or
not any such assets are “investment securities” under Section 3(a)(2) of the Investment Company Act and whether the value of any such “investment securities” held by the Company or any such Subsidiary exceeds 40% of the
value of the total assets of the Company or such Subsidiary, as the case may be. 

 Section 8.2 Voting.

  

	 	(a)	 Meetings of the Members may be called upon the written request of Members holding at least 50% of the outstanding
Units. Such request shall state the location of the meeting and the nature of the business to be transacted at the meeting. Written notice of any such meeting shall be given to all Members not less than two Business Days and not more than 30 days
prior to the date of such meeting. Members may vote in person, by proxy or by telephone at any meeting 

  
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of the Members and may waive advance notice of such meeting. Whenever the vote or consent of Members is permitted or required under this Agreement, such vote or consent may be given at a meeting
of the Members or may be given in accordance with the procedure prescribed in this Section 8.2. Except as otherwise expressly provided in this Agreement, the affirmative vote of the Members holding a majority of the
outstanding Units shall constitute the act of the Members. 

  

	 	(b)	Each Member may authorize any Person or Persons to act for it by proxy on all matters in which such Member is entitled to participate, including waiving notice of any meeting, or voting or participating at a meeting.
Every proxy must be signed by such Member or its attorney-in-fact. No proxy shall be valid after the expiration of 11 months from the date thereof unless otherwise
provided in the proxy. Every proxy shall be revocable at the pleasure of the Member executing it. 

  

	 	(c)	Each meeting of Members shall be conducted by an Officer designated by the Managing Member or such other individual Person as the Managing Member deems appropriate. 

 

	 	(d)	Any action required or permitted to be taken by the Members may be taken without a meeting if the requisite Members whose approval is necessary consent thereto in writing. 

Section 8.3 Various Capacities. The Members acknowledge and agree that the Members or their Affiliates will from time to
time act in various capacities, including as a Member and as the Tax Matters Member or Company Representative. 
 Section 8.4
Investment Opportunities. 
  

	 	(a)	 To the fullest extent permitted by applicable law, the doctrine of corporate opportunity, or any analogous
doctrine, shall not apply to any Member (other than Members who are officers or employees of the Company, PubCo or any of their respective subsidiaries), any of their respective affiliates (other than the Company, the Managing Member or any of their
respective subsidiaries), or any of their respective officers, directors, agents, shareholders, members, and partners (each, a “Business Opportunities Exempt Party”). The Company renounces any interest or expectancy of
the Company in, or in being offered an opportunity to participate in, business opportunities that are from time to time presented to any Business Opportunities Exempt Party. No Business Opportunities Exempt Party who acquires knowledge of a
potential transaction, agreement, arrangement or other matter that may be an opportunity for the Company or any of its subsidiaries shall have any duty to communicate or offer such opportunity to the Company. No amendment or repeal of this
Section 8.4 shall apply to or have any effect on the liability or alleged liability of any Business Opportunities Exempt Party for or with respect to any opportunities of which any such Business Opportunities Exempt Party
becomes aware prior to such amendment or repeal. Any Person purchasing or otherwise acquiring any interest in any Units 

  
 40 

	 	
shall be deemed to have notice of and consented to the provisions of this Section 8.4. Neither the alteration, amendment or repeal of this
Section 8.4, nor the adoption of any provision of this Agreement inconsistent with this Section 8.4, shall eliminate or reduce the effect of this Section 8.4 in respect of
any business opportunity first identified or any other matter occurring, or any cause of action, suit or claim that, but for this Section 8.4, would accrue or arise, prior to such alteration, amendment, repeal or adoption.

  

	 	(b)	The Company and the Members recognize that (i) Wells Fargo and the Wells Fargo BHC Affiliate and their respective Affiliates own and will own substantial equity interests in other Persons (existing and future) that
participate in the energy industry (“Wells Fargo Investments”) and (ii) that at any given time, other Wells Fargo Investments may be in direct or indirect competition with the Company and/or its Subsidiaries. The
Company and the Members acknowledge and agree that (i) Wells Fargo, the Wells Fargo BHC Affiliate and Wells Fargo Investments and each of their respective Affiliates (the “Wells Fargo Related Parties”): (A) shall
not be prohibited or otherwise restricted by their relationship with the Company and its Subsidiaries from engaging in the business of investing in Wells Fargo Investments, entering into agreements to provide services to such companies or acting as
directors or advisors to, or other principals of, such Wells Fargo Investments, and (B) shall not have any obligation to offer the Company or its Subsidiaries any business opportunities, and (ii) the Company and the Members hereby renounce
any interest or expectancy in any business opportunity pursued by the Wells Fargo Related Parties and waive any claim that any such business opportunity constitutes a corporate, partnership or other business opportunity of the Company or any of its
Subsidiaries. 

 Section 8.5 BHCA Matters. 

 

	 	(a)	 Wells Fargo is a BHC Member. Any Interest in the Company that is (i) held for its own account by Wells Fargo
or by any affiliate (as defined in 12 U.S.C. Sec. 1841(k)) of Wells Fargo that is itself a BHC Company (a “Wells Fargo BHC Affiliate”), and (ii) determined in the aggregate to have voting rights with respect to a
matter in excess of 4.99% (or such greater percentage as may be permitted under Section 4(c)(6) of the BHCA) of the voting rights of the Interests pursuant to this Agreement (such determination to be made (i) at the time of admission of
Wells Fargo or the Wells Fargo BHC Affiliate to the Company, (ii) at the time of admission of any additional Member to, or withdrawal of any Member from, the Company, or (iii) at any other time when an adjustment is made to the
Members’ proportionate ownership of the Interests or voting rights attributable to such Interests (each, a “Recalculation Event”)), shall, upon written notice from Wells Fargo to the Company, be treated as
“Non-Voting Membership Interests” except as provided in subsection (b) of this Section 8.5Section 8.5(a). In the event that any Interests of Wells Fargo and the Wells
Fargo BHC Affiliate are determined in the aggregate to include Non-Voting Membership Interests, Wells Fargo and the Wells Fargo BHC Affiliate may by notice to the Company allocate voting Interests and Non-Voting Membership Interests among themselves in such 

  
 41 

	 	
percentages as they may elect. Upon any Recalculation Event, the Interests in the Company held by Wells Fargo and the Wells Fargo BHC Affiliate shall be recalculated, and upon written notice from
Wells Fargo to the Company, only that portion of the Interests in the Company held by Wells Fargo and the Wells Fargo BHC Affiliate that is determined as of the date of such Recalculation Event to have voting rights in excess of 4.99% with respect
to a matter (or such greater percentage as may be permitted under Section 4(c)(6) of the BHCA), excluding the Non-Voting Membership Interests as of such date, shall be a
Non-Voting Membership Interest. 

  

	 	(b)	Except as provided in this Section 8.5, Non-Voting Membership Interests (whether or not subsequently transferred in whole or in part to any other person
or entity) shall not be entitled to vote or consent with respect to any matter under this Agreement or the Act, and shall be deemed to have waived any rights to vote or consent with respect to such matters.
Non-Voting Membership Interests shall not be counted as Interests (either for purposes of determining the numerator or the denominator in any vote) for purposes of determining whether any vote required under
this Agreement has been approved by the requisite percentage in interest of the Members; provided, that Wells Fargo will be permitted to vote its Non-Voting Membership Interest on (i) any proposal
to dissolve or continue the business of the Company (but not on the selection of any successor Managing Member, and Wells Fargo irrevocably waives its right to vote its Non-Voting Membership Interest on the
selection of any successor Managing Member under the Act, which waiver shall be binding upon Wells Fargo and any entity which succeeds to its Interest), and (ii) any matter that would significantly and adversely affect the rights, preferences
or limited liability of Wells Fargo, such as the making of any distributions by the Company to any Member prior to making any required distributions to other Members, and other matters as to which non-voting
shares are permitted to vote pursuant to 12 C.F.R. Sec. 225.2(q)(2), as in effect from time to time. Except as provided in this Section 8.5, Non-Voting Membership Interests will be
identical in all respects to all other Interests. 

 ARTICLE IX 

TRANSFERS OF INTERESTS 

Section 9.1 Restrictions on Transfer. 
  

	 	(a)	 Except as provided in Section 4.6, no Member shall Transfer all or any portion of its
Interest without the Managing Member’s prior written consent, which consent shall be granted or withheld in the Managing Member’s sole discretion. If, notwithstanding the provisions of this Section 9.1(a), all or any portion of a
Member’s Interests are Transferred in violation of this Section 9.1(a), involuntarily, by operation of law or otherwise, then without limiting any other rights and remedies available to the other parties under this Agreement or
otherwise, the Transferee of such Interest (or portion thereof) shall not be admitted to the Company as a Member or be entitled to any rights as a Member 

  
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hereunder, and the Transferor will continue to be bound by all obligations hereunder, unless and until the Managing Member consents in writing to such admission, which consent shall be granted or
withheld in the Managing Member’s sole discretion. Any attempted or purported Transfer of all or a portion of a Member’s Interests in violation of this Section 9.1(a) shall be null and void and of no force or effect whatsoever. For
the avoidance of doubt, the restrictions on Transfer contained in this Article IX shall not apply to the Transfer of any capital stock of the Managing Member; provided that no shares of Class B Common Stock may be Transferred
unless a corresponding number of Units are Transferred therewith in accordance with this Agreement. 

  

	 	(b)	In addition to any other restrictions on Transfer herein contained, including the provisions of this Article IX, in no event may any Transfer or assignment of Interests by any Member be made (i) to any
Person who lacks the legal right, power or capacity to own Interests; (ii) if the Company has received reasoned advice from legal counsel or a qualified tax advisor that such Transfer (A) would be considered to be effected on or through an
“established securities market” or a “secondary market or the substantial equivalent thereof,” as such terms are used in Treasury Regulations Section 1.7704-1, (B) would result in the
Company having more than one hundred (100) partners, within the meaning of Treasury Regulations Section 1.7704-1(h)(1) (determined taking into account the rules of Treasury Regulations Section 1.7704-1(h)(3)), or (C) would cause the Company to be treated as a “publicly traded partnership” within the meaning of Section 7704 of the Code or a successor provision or to be
taxed as a corporation pursuant to the Code or successor of the Code; (iii) if such Transfer would cause the Company to become, with respect to any employee benefit plan subject to Title I of ERISA, a “party-in-interest” (as defined in Section 3 (14) of ERISA) or a “disqualified person” (as defined in Section 4975(e)(2) of the Code); (iv) if such Transfer would, in the opinion
of counsel to the Company, cause any portion of the assets of the Company to constitute assets of any employee benefit plan pursuant to the Plan Asset Regulations or otherwise cause the Company to be subject to regulation under ERISA; (v) if
such Transfer requires the registration of such Interests or any Equity Securities issued upon any exchange of such Interests, pursuant to any applicable U.S. federal or state securities Laws; or (vi) if such Transfer subjects the Company to
regulation under the Investment Company Act or the Investment Advisors Act of 1940, each as amended (or any succeeding law). Any attempted or purported Transfer of all or a portion of a Member’s Interests in violation of this Section
9.1(b) shall be null and void and of no force or effect whatsoever. 

 Section 9.2 Notice of Transfer.
Other than in connection with Transfers made pursuant to Section 4.6, each Member shall, after complying with the provisions of this Agreement, but in any event no later than three Business Days following any Transfer of
Interests, give written notice to the Company of such Transfer. Each such notice shall describe the manner and circumstances of the Transfer. 

  
 43 

 Section 9.3 Transferee Members. A Transferee of Interests pursuant to this
Article IX shall have the right to become a Member only if (i) the requirements of this Article IX are met, (ii) such Transferee executes an instrument reasonably satisfactory to the Managing Member agreeing to be bound by
the terms and provisions of this Agreement and assuming all of the Transferor’s then existing and future Liabilities arising under or relating to this Agreement, (iii) such Transferee represents that the Transfer was made in accordance
with all applicable securities Laws, (iv) the Transferor or Transferee shall have reimbursed the Company for all reasonable expenses (including attorneys’ fees and expenses) of any Transfer or proposed Transfer of a Member’s Interest,
whether or not consummated and (v) if such Transferee or his or her spouse is a resident of a community property jurisdiction, then such Transferee’s spouse shall also execute an instrument reasonably satisfactory to the Managing Member
agreeing to be bound by the terms and provisions of this Agreement to the extent of his or her community property or quasi-community property interest, if any, in such Member’s Interest. Unless agreed to in writing by the Managing Member, the
admission of a Member shall not result in the release of the Transferor from any Liability that the Transferor may have to each remaining Member or to the Company under this Agreement or any other Contract between the Managing Member, the Company or
any of its Subsidiaries, on the one hand, and such Transferor or any of its Affiliates, on the other hand. Written notice of the admission of a Member shall be sent promptly by the Company to each remaining Member. Notwithstanding anything to the
contrary in this Section 9.3, and except as otherwise provided in this Agreement, following a Transfer by one or more Members (or a transferee of the type described in this sentence) to a Permitted Transferee of all or
substantially all of their Interests, such transferee shall succeed to all of the rights of such Member(s) under this Agreement. 

Section 9.4 Legend. Each certificate representing a Unit, if any, will be stamped or otherwise imprinted with a legend in
substantially the following form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933. 
 THESE SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN
EXEMPTION THEREFROM UNDER SUCH ACT. 
 THE TRANSFER AND VOTING OF THESE SECURITIES IS SUBJECT TO THE CONDITIONS SPECIFIED IN THE SECOND
AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF SOLARIS OILFIELD INFRASTRUCTURE, LLC DATED AS OF [•], 2017 AMONG THE MEMBERS LISTED THEREIN, AS IT MAY BE AMENDED, SUPPLEMENTED AND/OR RESTATED FROM TIME TO TIME, AND NO TRANSFER OF
THESE SECURITIES WILL BE VALID OR EFFECTIVE UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED. COPIES OF SUCH AGREEMENT MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE SECRETARY OF THE ISSUER OF SUCH
SECURITIES.” 

  
 44 

 ARTICLE X 

ACCOUNTING 

Section 10.1 Books of Account. The Company shall, and shall cause each Subsidiary to, maintain true books and records of
account in which full and correct entries shall be made of all its business transactions pursuant to a system of accounting established and administered in accordance with GAAP, and shall set aside on its books all such proper accruals and reserves
as shall be required under GAAP. 
 Section 10.2 Tax Elections. 

 

	 	(a)	The Company and any eligible Subsidiary shall make an election (or continue a previously made election) pursuant to Section 754 of the Code for the taxable year of the Company that includes the date hereof, shall
not thereafter revoke such election and shall make a new election pursuant to Section 754 of the Code to the extent necessary following any “termination” of the Company or the Subsidiary, as applicable, under Section 708 of the
Code. In addition, the Company shall make the following elections on the appropriate forms or tax returns: 

  

	 	i.	to adopt the calendar year as the Company’s Fiscal Year, if permitted under the Code; 

  

	 	ii.	to adopt the accrual method of accounting for U.S. federal income tax purposes; 

  

	 	iii.	to elect to amortize the organizational expenses of the Company as permitted by Section 709(b) of the Code; and 

  

	 	iv.	any other election the Managing Member may deem appropriate and in the best interests of the Company. 

  

	 	(b)	Upon request of the Managing Member, each Member shall cooperate in good faith with the Company in connection with the Company’s efforts to elect out of the application of the company-level audit and adjustment
rules of the Bipartisan Budget Act of 2015, if applicable. None of the Managing Member, the Members, or the Company shall make any election under Section 1101(g)(4) of the Bipartisan Budget Act of 2015 to have the provisions of the Bipartisan
Budget Act of 2015 governing “Subchapter C – Treatment of Partnerships” apply to any tax return of the Company filed for a taxable year beginning prior to January 1, 2018. 

Section 10.3 Tax Returns; Information. The Managing Member shall arrange for the preparation and timely filing of all
income and other tax and informational returns of the Company. The Managing Member shall furnish to each Member a copy of each approved return and statement, together with any schedules or other information which each Member may require in
connection with such Member’s own tax affairs as soon as practicable (but in no event more than 75 days after the end of each Fiscal Year). The Members agree to take all actions 

  
 45 

 
reasonably requested by the Company or the Company Representative to comply with the Bipartisan Budget Act of 2015, including where applicable, filing amended returns as provided in
Sections 6225 or 6226 of the Code and providing confirmation thereof to the Company Representative. 
 Section 10.4 Tax
Matters Member and Company Representative. The Managing Member is specially authorized and appointed to act as the Tax Matters Member and as the Company Representative (as applicable) and in any similar capacity under state or local Law. The
Tax Matters Member or Company Representative (as applicable) may retain, at the Company’s expense, such outside counsel, accountants and other professional consultants as it may reasonably deem necessary in the course of fulfilling its
obligations as Tax Matters Member or Company Representative (as applicable). 
 Section 10.5 Withholding Tax Payments and
Obligations. 
  

	 	(a)	The Company and its Subsidiaries may withhold from distributions, allocations or portions thereof if it is required to do so by any applicable rule, regulation or law, and each Member hereby authorizes the Company and
its Subsidiaries to withhold or pay on behalf of or with respect to such Member any amount of taxes that the Managing Member determines, in good faith, that the Company or any of its Subsidiaries is required to withhold or pay with respect to any
amount distributable or allocable to such Member pursuant to this Agreement. 

  

	 	(b)	To the extent that any tax is paid by (or withheld from amounts payable to) the Company or any of its Subsidiaries and the Managing Member determines, in good faith, that such tax relates to one or more specific Members
(including any tax payable by the Company or any of its Subsidiaries pursuant to Section 6225 of the Code with respect to items of income, gain, loss deduction or credit allocable or attributable to such Member), such tax shall be treated as an
amount of taxes withheld or paid with respect to such Member pursuant to this Section 10.5. 

  

	 	(c)	For all purposes under this Agreement, any amounts withheld or paid with respect to a Member pursuant to this Section 10.5 shall be treated as if distributed to such Member at the time such
withholding or payment is made. Further, to the extent that the cumulative amount of such withholding or payment for any period exceeds the distributions to which such Member is entitled for such period, the amount of such excess shall be considered
a loan from the Company to such Member, with interest accruing at the Prime Rate in effect from time to time, compounded annually. The Managing Member may, in its discretion, either demand payment of the principal and accrued interest on such demand
loan at any time (which payment shall not be deemed a Capital Contribution for purposes of this Agreement), and enforce payment thereof by legal process, or may withhold from one or more distributions to a Member amounts sufficient to satisfy such
Member’s obligations under any such demand loan. 

  

	 	(d)	Neither the Company nor the Managing Member shall be liable for any excess taxes withheld in respect of any Member, and, in the event of overwithholding, a Member’s sole recourse shall be to apply for a refund from
the appropriate Governmental Entity. 

  
 46 

	 	(e)	Notwithstanding any other provision of this Agreement, (i) any Person who ceases to be a Member shall be treated as a Member for purposes of this Section 10.5 and (ii) the obligations
of a Member pursuant to this Section 10.5 shall survive indefinitely with respect to any taxes withheld or paid by the Company that relate to the period during which such Person was actually a Member, regardless of whether
such taxes are assessed, withheld or otherwise paid during such period. 

 ARTICLE XI 

DISSOLUTION AND TERMINATION 

Section 11.1 Liquidating Events. The Company shall dissolve and commence winding up and liquidating upon the first to occur
of the following (each, a “Liquidating Event”): 
  

	 	(a)	The sale of all or substantially all of the assets of the Company; and 

  

	 	(b)	The determination of the Managing Member to dissolve, wind up, and liquidate the Company. 

 The Members hereby
agree that the Company shall not dissolve prior to the occurrence of a Liquidating Event and that no Member shall seek a dissolution of the Company, under Section 18-802 of the Act or otherwise, other
than based on the matters set forth in subsections (a) and (b) above. If it is determined by a court of competent jurisdiction that the Company has dissolved prior to the occurrence of a Liquidating Event, the Members hereby agree to continue
the business of the Company without a winding up or liquidation. In the event of a dissolution pursuant to Section 11.1(b), the relative economic rights of each class of Units immediately prior to such dissolution shall be preserved to the
greatest extent practicable with respect to distributions made to Members pursuant to Section 11.3 in connection with such dissolution, taking into consideration tax and other legal constraints that may adversely affect one
or more parties to such dissolution and subject to compliance with applicable laws and regulations, unless, with respect to any class of Units, holders of a majority of the Units of such class consent in writing to a treatment other than as
described above. 
 Section 11.2 Bankruptcy. For purposes of this Agreement, the “bankruptcy” of a Member shall
mean the occurrence of any of the following: (a) any Governmental Entity shall take possession of any substantial part of the property of that Member or shall assume control over the affairs or operations thereof, or a receiver or trustee shall
be appointed, or a writ, order, attachment or garnishment shall be issued with respect to any substantial part thereof, and such possession, assumption of control, appointment, writ or order shall continue for a period of 90 consecutive days; or
(b) a Member shall admit in writing of its inability to pay its debts when due, or make an assignment for the benefit of creditors; or apply for or consent to the appointment of any receiver, trustee or similar officer or for all or any
substantial part of its 

  
 47 

 
property; or shall institute (by petition, application, answer, consent or otherwise) any bankruptcy, insolvency, reorganization, arrangement, readjustment of debts, dissolution, liquidation, or
similar proceeding under the Laws of any jurisdiction; or (c) a receiver, trustee or similar officer shall be appointed for such Member or with respect to all or any substantial part of its property without the application or consent of that
Member, and such appointment shall continue undischarged or unstayed for a period of 90 consecutive days or any bankruptcy, insolvency, reorganization, arrangements, readjustment of debt, dissolution, liquidation or similar proceedings shall be
instituted (by petition, application or otherwise) against that Member and shall remain undismissed for a period of 90 consecutive days. 

Section 11.3 Procedure. 
  

	 	(a)	In the event of the dissolution of the Company for any reason, the Members shall commence to wind up the affairs of the Company and to liquidate the Company’s investments; provided that if a Member is in
bankruptcy or dissolved, another Member, who shall be the Managing Member (“Winding-Up Member”) shall commence to wind up the affairs of the Company and, subject to Section
11.4(a), such Winding-Up Member shall have full right and unlimited discretion to determine in good faith the time, manner and terms of any sale or sales of the Property or other assets pursuant to such
liquidation, having due regard to the activity and condition of the relevant market and general financial and economic conditions. The Members shall continue to share profits, losses and distributions during the period of liquidation in the same
manner and proportion as though the Company had not dissolved. The Company shall engage in no further business except as may be necessary, in the reasonable discretion of the Managing Member or the Winding-Up
Member, as applicable, to preserve the value of the Company’s assets during the period of dissolution and liquidation. 

  

	 	(b)	Following the payment of all expenses of liquidation and the allocation of all Profits and Losses as provided in Article V, the proceeds of the liquidation and any other funds of the Company shall be distributed
in the following order of priority: 

  

	 	(i)	First, to the payment and discharge of all of the Company’s debts and Liabilities to creditors (whether third parties or Members), in the order of priority as provided by Law, except any obligations to the Members
in respect of their Capital Accounts; 

  

	 	(ii)	Second, to set up such cash reserves which the Managing Member reasonably deems necessary for contingent or unforeseen Liabilities or future payments described in Section 11.3(b)(i) (which reserves when they
become unnecessary shall be distributed in accordance with the provisions of subsection (iii), below); and 

  

	 	(iii)	Third, the balance to the Members, pro rata in accordance with the number of Units owned by each Member. 

  
 48 

	 	(c)	Except as provided in Section 11.4(a), no Member shall have any right to demand or receive property other than cash upon dissolution and termination of the Company. 

 

	 	(d)	Upon the completion of the liquidation of the Company and the distribution of all Company funds, the Company shall terminate and the Managing Member or the Winding-Up Member, as
the case may be, shall have the authority to execute and record a certificate of cancellation of the Company, as well as any and all other documents required to effectuate the dissolution and termination of the Company. 

Section 11.4 Rights of Members. 
  

	 	(a)	Each Member irrevocably waives any right that it may have to maintain an action for partition with respect to the property of the Company. 

 

	 	(b)	Except as otherwise provided in this Agreement, (i) each Member shall look solely to the assets of the Company for the return of its Capital Contributions, and (ii) no Member shall have priority over any other
Member as to the return of its Capital Contributions, distributions or allocations. 

 Section 11.5 Notices of
Dissolution. In the event a Liquidating Event occurs or an event occurs that would, but for the provisions of Section 11.1, result in a dissolution of the Company, the Company shall, within 30 days thereafter,
(a) provide written notice thereof to each of the Members and to all other parties with whom the Company regularly conducts business (as determined in the discretion of the Managing Member), and (b) comply, in a timely manner, with all
filing and notice requirements under the Act or any other applicable Law. 
 Section 11.6 Reasonable Time for Winding Up.
A reasonable time shall be allowed for the orderly winding up of the business and affairs of the Company and the liquidation of its assets in order to minimize any losses that might otherwise result from such winding up. 

Section 11.7 No Deficit Restoration. No Member shall be personally liable for a deficit Capital Account balance of that
Member, it being expressly understood that the distribution of liquidation proceeds shall be made solely from existing Company assets. 

ARTICLE XII 
 GENERAL

 Section 12.1 Amendments; Waivers. 
  

	 	(a)	The terms and provisions of this Agreement may be waived, modified or amended (including by means of merger, consolidation or other business combination to which the Company is a party) with the approval of the Managing
Member and each Member who at such time holds (together with its Affiliates) at least five percent (5%) of the then outstanding Units; provided, however, that no amendment to this Agreement may: 

  
 49 

	 	i.	modify the limited liability of any Member, or increase the liabilities or obligations of any Member, in each case, without the consent of each such affected Member; or 

 

	 	ii.	materially alter or change any rights, preferences or privileges of any Interests in a manner that is different or prejudicial relative to any other Interests, without the approval of a majority in interest of the
Members holding the Interests affected in such a different or prejudicial manner. 

  

	 	(b)	Notwithstanding the foregoing subsection (a), the Managing Member, acting alone, may amend this Agreement, including Exhibit A, (i) to reflect the admission of new Members, Transfers of Interests, the
issuance of additional Units or Equity Securities, as provided by the terms of this Agreement, and, subject to Section 12.1(a), subdivisions or combinations of Units made in compliance with Section 4.1(g), (ii) to the minimum extent
necessary to (A) comply with the provisions of the Bipartisan Budget Act of 2015 and any Treasury Regulations or other administrative pronouncements promulgated thereunder and (B) to administer the effects of such provisions in an
equitable manner and (iii) as necessary to avoid the Company being classified as a “publicly traded partnership” within the meaning of Section 7704(b) of the Code. 

 

	 	(c)	No waiver of any provision or default under, nor consent to any exception to, the terms of this Agreement or any agreement contemplated hereby shall be effective unless in writing and signed by the party to be bound and
then only to the specific purpose, extent and instance so provided. 

  

	 	(d)	Notwithstanding Section 12.1(a), with respect to any change, modification, or amendment to this Agreement that would amend (i) the definitions of any of BHCA, BHC Member, Investment Company Act, Non-Voting Membership Interest, Recalculation Event, Wells Fargo, Wells Fargo BHC Affiliate, Wells Fargo Investments or Wells Fargo Related Parties, or (ii) Section 2.6 Section
8.1(b), Section 8.4(b), Section 8.5 or this Section 12.1(d) shall be effective only upon the prior written consent of Wells Fargo. 

Section 12.2 Further Assurances. Each party agrees that it will from time to time, upon the reasonable request of another
party, execute such documents and instruments and take such further action as may be required to accomplish the purposes of this Agreement. 

Section 12.3 Successors and Assigns. All of the terms and provisions of this Agreement shall be binding upon the parties
and their respective successors and assigns, but shall inure to the benefit of and be enforceable by the successors and assigns of any Member only to the extent that they are permitted successors and assigns pursuant to the terms hereof. No party
may assign its rights hereunder except as herein expressly permitted. 
 Section 12.4 Entire Agreement. This Agreement,
together with all Exhibits and Schedules hereto and all other agreements referenced therein and herein, constitute the entire agreement between the parties hereto pertaining to the subject matter hereof and supersede all

  
 50 

 
prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, of the parties and there are no warranties, representations or other agreements
between the parties in connection with the subject matter hereof except as specifically set forth herein and therein. 
 Section 12.5
Rights of Members Independent. The rights available to the Members under this Agreement and at Law shall be deemed to be several and not dependent on each other and each such right accordingly shall be construed as complete in itself
and not by reference to any other such right. Any one or more and/or any combination of such rights may be exercised by a Member and/or the Company from time to time and no such exercise shall exhaust the rights or preclude another Member from
exercising any one or more of such rights or combination thereof from time to time thereafter or simultaneously. 
 Section 12.6
Governing Law. This Agreement, the legal relations between the parties and any Action, whether contractual or non-contractual, instituted by any party with respect to matters arising under or
growing out of or in connection with or in respect of this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware applicable to contracts made and performed in such State and without regard to conflicts of
law doctrines, except to the extent that certain matters are preempted by federal Law or are governed as a matter of controlling Law by the Law of the jurisdiction of organization of the respective parties. 

Section 12.7 Jurisdiction and Venue. The parties hereto hereby agree and consent to be subject to the jurisdiction of any
federal court of the District of Delaware or the Delaware Court of Chancery over any action, suit or proceeding (a “Legal Action”) arising out of or in connection with this Agreement. The parties hereto irrevocably waive the
defense of an inconvenient forum to the maintenance of any such Legal Action. Each of the parties hereto further irrevocably consents to the service of process out of any of the aforementioned courts in any such Legal Action by the mailing of copies
thereof by registered mail, postage prepaid, to such party at its address set forth in this Agreement, such service of process to be effective upon acknowledgment of receipt of such registered mail. Nothing in this
Section 12.7 shall affect the right of any party hereto to serve legal process in any other manner permitted by law. 

Section 12.8 Headings. The descriptive headings of the Articles, Sections and subsections of this Agreement are for
convenience only and do not constitute a part of this Agreement. 
 Section 12.9 Counterparts. This Agreement and any
amendment hereto or any other agreement (or document) delivered pursuant hereto may be executed in one or more counterparts and by different parties in separate counterparts. All of such counterparts shall constitute one and the same agreement (or
other document) and shall become effective (unless otherwise provided therein) when one or more counterparts have been signed by each party and delivered to the other party. 

  
 51 

 Section 12.10 Notices. Any notice or other communication hereunder must be
given in writing and (a) delivered in person, (b) transmitted by facsimile, by telecommunications mechanism or electronically or (c) mailed by certified or registered mail, postage prepaid, receipt requested as follows: 

If to the Company or the Managing Member, addressed to it at: 

Solaris Oilfield Infrastructure, LLC 

9811 Katy Freeway, Suite 900 

Houston, TX 77024 
 Facsimile:
(713) 574-2960 
 Electronic mail: kyle.ramachandran@solarisoilfield.com 

Attention: Kyle S. Ramachandran 

With copies (which shall not constitute notice) to: 

Solaris Oilfield Infrastructure, Inc. 

9811 Katy Freeway, Suite 900 

Houston, TX 77024 
 Facsimile:
(713) 574-2960 
 Electronic mail: kyle.ramachandran@solarisoilfield.com 

Attention: Kyle S. Ramachandran 

Vinson & Elkins L.L.P. 

1001 Fannin, Suite 2500 
 Houston,
TX 77002 
 Facsimile: (713) 615-5725 

Electronic mail: dmcwilliams@velaw.com 

Attention: Douglas E. McWilliams 

Vinson & Elkins L.L.P. 

1001 Fannin, Suite 2500 
 Houston,
TX 77002 
 Facsimile: (713) 615-5862 

Electronic mail: jseiguer@velaw.com 

Attention: Julian J. Seiguer 
 or to such other
address or to such other Person as either party shall have last designated by such notice to the other parties. Each such notice or other communication shall be effective (i) if given by telecommunication or electronically, when transmitted to
the applicable number or electronic mail address so specified in (or pursuant to) this Section 12.10 and an appropriate answerback is received or, if transmitted after 4:00 p.m. local time on a Business Day in the
jurisdiction to which such notice is sent or at any time on a day that is not a Business Day in the jurisdiction to which such notice is sent, then on the immediately following Business Day, (ii) if given by mail, on the first Business Day in
the jurisdiction to which such notice is sent following the date three days after such communication is deposited in the mails with first class postage prepaid, addressed as aforesaid or (iii) if given by any other means, on the Business Day
when actually received at such address or, if not received on a Business Day, on the Business Day immediately following such actual receipt. 

  
 52 

 Section 12.11 Representation By Counsel; Interpretation. The parties
acknowledge that each party to this Agreement has been represented by counsel in connection with this Agreement and the transactions contemplated by this Agreement. Accordingly, any rule of Law, or any legal decision that would require
interpretation of any claimed ambiguities in this Agreement against the party that drafted it has no application and is expressly waived. 

Section 12.12 Severability. If any provision of this Agreement is determined to be invalid, illegal or unenforceable by any
Governmental Entity, the remaining provisions of this Agreement, to the extent permitted by Law shall remain in full force and effect, provided that the essential terms and conditions of this Agreement for all parties remain valid, binding
and enforceable. 
 Section 12.13 Expenses. Except as otherwise provided in this Agreement, each party shall bear its own
expenses in connection with the transactions contemplated by this Agreement. 
 Section 12.14 Waiver of Jury Trial. EACH
OF THE COMPANY, THE MEMBERS, THE MANAGING MEMBER AND ANY INDEMNITEES SEEKING REMEDIES HEREUNDER, HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY LAW ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE. 

Section 12.15 No Third Party Beneficiaries. Except as expressly provided in Sections 7.4 and
10.2, nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties hereto and their respective successors and permitted assigns, any rights or remedies under this Agreement or otherwise create
any third party beneficiary hereto. 
 [Signatures on Next Page] 

  
 53 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Second Amended and Restated
Limited Liability Company Agreement to be executed as of the day and year first above written. 
  

					
		  	COMPANY:
		
		  	SOLARIS OILFIELD INFRASTRUCTURE, LLC
			
		  	By: 	  	 
		  	Name:	  	 
		  	Title:	  	 

 SIGNATURE PAGE TO 

SECOND AMENDED AND RESTATED LIMITED LIABILITY
COMPANY AGREEMENT OF 
 SOLARIS OILFIELD
INFRASTRUCTURE, LLC 

					
		  	MEMBERS:
		
		  	[         ]
			
		  	By:	 	  

		  	Name:	 	  

		  	Title:	 	  

		
		  	MANAGING MEMBER:
		
		  	SOLARIS OILFIELD INFRASTRUCTURE, INC.
			
		  	By:	 	  

		  	Name:	 	  

		  	Title: 	 	  

 SIGNATURE PAGE TO 

SECOND AMENDED AND RESTATED LIMITED LIABILITY
COMPANY AGREEMENT OF 
 SOLARIS OILFIELD
INFRASTRUCTURE, LLC 

 EXHIBIT A 
  

					
	 Member
	  	 Number of Units Owned
	  	 Closing Date Capital Account Balance

	 Solaris Oilfield Infrastructure, Inc.
	  	[•]	  	[•]
	 [•]
	  	[•]	  	[•]
	 [•]
	  	[•]	  	[•]
	 [•]
	  	[•]	  	[•]

  
 A-1EX-10.7

 Exhibit 10.7 

FORM OF 
 AMENDED AND RESTATED
ADMINISTRATIVE SERVICES AGREEMENT 
 THIS AMENDED AND RESTATED ADMINISTRATIVE SERVICES AGREEMENT (this “Agreement”) is made
and entered into effective as of             , 2017, by and between Solaris Oilfield Infrastructure, Inc., a corporation organized under the laws of the state of Delaware (the
“Corporation”), and Solaris Oilfield Infrastructure, LLC, a Delaware limited liability company (the “Company;” together with the Corporation, the “Service Recipients” and individually, a
“Service Recipient”), on the one hand, and Solaris Energy Management, LLC, a Delaware limited liability company (the “Service Provider”), on the other hand. 

RECITALS: 
 Each of the
Service Recipients is involved in the oilfield industry and in connection therewith, owns or may in the future acquire from time to time properties and operations (the “Properties”). The Service Provider provides certain
administrative, management and related services to organizations in the oilfield industry. 
 The Service Recipients desire to engage the
Service Provider to provide services in connection with their businesses, and to engage the Service Provider to provide certain services to and for the benefit of the Service Recipients and their subsidiaries that are described more particularly
herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows: 
 ARTICLE I

 DEFINITIONS AND REFERENCES 

Section 1.1. Definitions. 

In addition to the other terms that are expressly defined in this Agreement, when used in this Agreement, the following terms have the
respective meanings assigned to them in this Section 1.1: 
 “Affiliate” means, with respect to a
Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with the first Person. For the avoidance of doubt, the Service Recipients are Affiliates of each other and the Service Provider
is not an Affiliate of the Service Recipients, for the purposes of the Agreement. 
 “Agreement” means this Amended and
Restated Administrative Services Agreement, as hereafter amended, restated or otherwise modified in accordance with the terms hereof. 

“Board” means the Service Recipient’s board of directors or board of managers, as applicable. 

 “Business Day” means any day other than a Saturday, Sunday or legal holiday on
which banks in Houston, Texas or New York, New York, are authorized or obligated by law to close. 
 “Claim” has the
meaning set forth in Section 2.5(c)(i). 
 “Confidential Information” has the meaning set forth
in Section 8.9. 
 “Entity” means any corporation, limited liability company, general
partnership, limited partnership, venture, trust, business trust, unincorporated association, estate or other entity. 

“Governmental Entity” means any court or tribunal in any jurisdiction (domestic or foreign) or any governmental or regulatory
body, agency, department, commission, board, bureau or other authority, arbitrator or instrumentality (domestic or foreign). 

“Indemnitee” has the meaning set forth in Section 2.5(c)(i). 

“Officer” means any officer of the Service Recipients. 

“Person” means any individual or Entity. 

“Properties” has the meaning set forth in the recitals hereof. 

“Service Provider” has the meaning set forth in the introductory paragraph hereof. 

“Service Recipients” has the meaning set forth in the introductory paragraph hereof. 

“Service Recipients Indemnitee” has the meaning set forth in Section 2.5(c)(ii). 

Section 1.2. References and Construction. In this Agreement: (a) unless the context requires otherwise, all references
in this Agreement to sections, subsections or other subdivisions shall be deemed to mean and refer to sections, subsections or other subdivisions of this Agreement; (b) titles appearing at the beginning of any subdivision are for convenience
only and shall not constitute part of such subdivision and shall be disregarded in construing the language contained in such subdivision; (c) the words “this Agreement,” “this instrument,” “herein,”
“hereof,” “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited; (d) words in the singular form shall be construed
to include the plural and vice versa, unless the context otherwise requires; pronouns in masculine, feminine and neuter genders shall be construed to include any other gender; (e) examples shall not be construed to limit, expressly or by
implication, the matters they illustrate; (f) the word “or” is not exclusive and the word “includes” and its derivatives means “includes, but is not limited to” and corresponding derivative expressions; (g) no
consideration shall be given to the fact or presumption that one party had a greater or lesser hand in drafting this Agreement; (h) all references herein to “$” or “dollars” shall refer to U.S. dollars; and (i) unless
the context otherwise requires or unless otherwise provided herein, any reference herein to a particular agreement, instrument or document shall also refer to and include all renewals, extensions, modifications, amendments or restatements of such
agreement, instrument, or document. 

  
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 ARTICLE II 

SCOPE OF SERVICES TO BE PROVIDED 

Section 2.1. Engagement. 

(a) On the terms and subject to the conditions and qualifications set forth in this Agreement, the Service Recipients hereby engage the Service
Provider, and the Service Provider hereby accepts such engagement, to provide the services set forth in Section 2.1(b) hereunder; provided, however, that notwithstanding the foregoing or anything else herein to the
contrary, in connection with the performance of its duties and obligations hereunder, the Service Provider shall not (nor any of the Service Provider’s officers or other agents or representative acting on its behalf) have the authority or be
permitted to take, in the name or on behalf of either Service Recipient or any subsidiary thereof, any action that requires the prior approval of such Service Recipient’s Board or pursuant to any action of such Service Recipient’s Board as
to which the Service Provider has been notified, unless and until such approval of the Board has been obtained. 
 (b) Except as otherwise
limited in this Agreement, the Service Provider shall, in accordance with the standards set forth in Section 2.5, take all appropriate actions on behalf of the Service Recipients to assist in the administration of certain
functions of each Service Recipient, including the following matters (in each case, as requested and supervised by the Service Recipient’s Chief Executive Officer, President, any Vice President or the Board in accordance with any action of the
Board): 
 (i) assisting in the maintenance of the books and records, including accounting and other records and files necessary and
appropriate for the proper conduct by the Service Recipients of their businesses and operations; 
 (ii) assisting each Service Recipient
and its subsidiaries’ compliance with credit facilities or other indebtedness of such Service Recipient or its subsidiaries, including negotiating and interfacing with the Service Recipient’s lenders; 

(iii) providing or procuring legal, human resources, information technology, secretarial, reception, office management support and other
services as necessary for the operation of the businesses of the Service Recipients; 
 (iv) providing such clerical and bookkeeping
services as are necessary and appropriate for the conduct of the businesses of the Service Recipients, including maintenance of general records of each Service Recipient; 

(v) assembling and collating such data and reports as are requested by any Officer of each Service Recipient or as Service Provider deems
appropriate in connection with the ownership, management or operation of the Service Recipients; 
 (vi) assisting in the making of all
filings and assisting in the obtaining of all licenses, permits and approvals from any Governmental Entity as may be necessary or appropriate under applicable law or regulation in connection with the operations or businesses of the Service
Recipients and submitting any application, filing or notice for the renewal of any existing licenses; 

  
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 (vii) in connection with the accounting firm retained by a Service Recipient to audit such
Service Recipient’s financial statements and/or prepare financial information regarding a Service Recipient, preparing accounting entries for, causing to be issued and causing to be certified such periodic financial statements as may be
necessary, appropriate or required under any agreement binding upon a Service Recipient; 
 (viii) providing use of office premises, office
supplies and office equipment, including telephones, fax machines, printers, and copiers for administrative, managerial and related staff; and  

(ix) performing such other acts which are necessary or appropriate to carry out and administer its obligations hereunder, or as requested by
the Officers of a Service Recipient. 
 Section 2.2. Limitation on Powers and Duties. The Service Provider’s duties
and obligations are limited under this Agreement to the availability of the resources of the Service Recipients to pay for the same, and to the extent the Service Recipients fails to timely pay the Service Provider amounts due for services provided
under this Agreement, then the Service Provider shall not be under any obligation to provide services under this Agreement for either Service Recipient until such amounts are paid in full. Notwithstanding the provisions of
Section 2.1 or any other provision of this Agreement to the contrary, without the prior approval of the Board of a Service Recipient, the Service Provider shall not: 

(a) amend, change or modify this Agreement; 

(b) enter into any transaction binding such Service Recipient or any agreement binding on such Service Recipient with, or grant any waiver
binding on such Service Recipient to, any Affiliate of the Service Provider in connection with the services provided for hereunder; 
 (c)
make any election or take any other action that requires approval of the Board of such Service Recipient; or 
 (d) enter into any
transaction or agreement involving such Service Recipient that is not expressly approved by the Board of such Service Recipient, if prior approval of such Service Recipient’s Board is required. 

Section 2.3. Services. The Service Provider agrees to provide and furnish all requisite accounting, financial, and
administrative support services as is reasonably necessary in order to perform its duties and obligations under this Article II, including: 

(a) the services of its executive and other officers, engineers, accountants and other support personnel and other employees; 

  
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 (b) the use of a portion of the Service Provider’s office premises and certain office
equipment and supplies, including telephones, computers, fax machines, printers, and copiers; 
 (c) the use of portions of the Service
Provider’s information technology systems; and 
 (d) without limiting Section 2.2(b) and
Section 2.3(c), other reasonably necessary general and administrative services. 
 Notwithstanding anything to the
contrary contained in this Agreement, the Service Provider may delegate its duties hereunder (but shall remain responsible for the performance thereof) to one or more of its Affiliates and Service Provider may engage one or more contractors to
perform its duties hereunder. 
 Section 2.4. Retention of Professionals. Subject to the limitations of Section 2.1 and
Section 2.2, from time to time either Service Recipient may request that during the term of this Agreement the Service Provider act as its agent in connection with such Service Recipient’s retention of certain third party professionals and
other service providers which are needed to provide the services to be provided by the Service Provider hereunder. The Service Provider may furnish and receive correspondence, data, instructions and notices on behalf of such Service Recipient but
shall not have any authority to execute on such Service Recipient’s behalf, without such Service Recipient’s consent, contracts or engagement agreements with any such professional or service provider which require such Service Recipient to
secure the consent or approval of its Board in order to enter into the same, as contemplated by the organizational documents of such Service Recipient or any other agreement to which such Service Recipient is a party (so long as the Service Provider
is provided a copy of each such other agreement). All costs or fees payable to such professionals and other service providers shall be borne by the Service Recipient for who such services are performed. 

Section 2.5. Standard of Care; Indemnification. 

(a) In supervising, administering and managing the business and affairs of each Service Recipient pursuant to this Article II, the Service
Provider shall perform all of its duties in accordance with reasonable and prudent practices of the oil and gas industry, in good faith, with due diligence and dispatch and in compliance with all applicable laws and the terms of the organizational
documents of such Service Recipient, this Agreement, and all other agreements binding upon such Service Recipient (so long as the Service Provider is provided a copy of each such other agreement). In addition, the Service Provider shall have a
fiduciary duty to each Service Recipient with respect to the maintenance and safekeeping of such Service Recipient’s funds in the possession of the Service Provider or otherwise under the control or management of the Service Provider hereunder.

 (b) Neither the Service Provider, its Affiliates, nor its or their respective partners, members, officers, directors, managers, employees
or agents, shall be liable, responsible, or accountable in damages or otherwise to the Service Recipients or their respective owners for any action taken or failure to act (EVEN IF SUCH ACTION OR FAILURE TO ACT

  
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CONSTITUTED THE SOLE, CONCURRENT OR COMPARATIVE NEGLIGENCE OF SERVICE PROVIDER OR SUCH AFFILIATE, PARTNER, MEMBER, OFFICER, MANAGER, DIRECTOR, EMPLOYEE OR AGENT) in connection with the
operations, business and affairs of the Service Recipients, unless such act or failure to act was the result of bad faith, fraud, willful or intentional misconduct or criminal wrongdoing or gross negligence. IN NO EVENT SHALL THE SERVICE PROVIDER
EVER BE LIABLE TO ANY SUCH PARTY UNDER THIS AGREEMENT OR IN CONNECTION WITH SERVICES PROVIDED HEREUNDER FOR ANY PUNITIVE, INCIDENTAL, CONSEQUENTIAL OR INDIRECT DAMAGES, LOSS OF PROFIT OR OTHER SIMILAR DAMAGE OR LOSS, WHETHER IN TORT, CONTRACT OR
OTHERWISE. 
 (c) Without limitation of Section 2.5(b): 

(i) THE SERVICE RECIPIENTS SHALL INDEMNIFY, DEFEND AND HOLD HARMLESS THE SERVICE PROVIDER AND ITS OWNERS, MANAGERS, OFFICERS, AFFILIATES,
EMPLOYEES, AGENTS AND REPRESENTATIVES (COLLECTIVELY, THE “INDEMNITEES” AND INDIVIDUALLY, AN “INDEMNITEE”) FROM ANY AND ALL LOSSES, LIABILITIES, COSTS, EXPENSES, JUDGMENTS, FINES, SETTLEMENTS AND OTHER AMOUNTS
(INCLUDING REASONABLE ATTORNEYS’ FEES AND EXPENSES) ARISING FROM ANY CLAIMS, DEMANDS, ACTIONS, SUITS OR PROCEEDINGS, CIVIL, CRIMINAL, ADMINISTRATIVE OR INVESTIGATIVE (EACH, A “CLAIM”), IN WHICH THE INDEMNITEE MAY BE INVOLVED,
OR THREATENED TO BE INVOLVED, AS A PARTY OR OTHERWISE, BY REASON OF OR IN ANY WAY ARISING OUT OF THIS AGREEMENT OR THE SERVICE PROVIDER’S PROVISION OF SERVICES AS AGENT HEREUNDER; PROVIDED, HOWEVER, THAT NO INDEMNITEE SHALL BE INDEMNIFIED BY
THE SERVICE RECIPIENTS FOR (A) ANY ACTS OR OMISSIONS BY THE INDEMNITEE THAT CONSTITUTE OR RESULT FROM SUCH INDEMNITEE’S BAD FAITH, FRAUD, WILLFUL OR INTENTIONAL MISCONDUCT, CRIMINAL WRONGDOING, OR GROSS NEGLIGENCE, OR (B) ANY CLAIM
INITIATED BY AN INDEMNITEE UNLESS THAT CLAIM WAS BROUGHT TO ENFORCE THAT INDEMNITEE’S RIGHT TO INDEMNIFICATION UNDER THIS SECTION 2.5(c) AND SUCH INDEMNITEE IS ACTUALLY ENTITLED TO INDEMNIFICATION. 

(ii) THE SERVICE PROVIDER SHALL INDEMNIFY, DEFEND AND HOLD HARMLESS THE SERVICE PROVIDERS AND ITS OWNERS, MEMBERS, MANAGERS, OFFICERS,
DIRECTORS, AFFILIATES, EMPLOYEES, AGENTS AND REPRESENTATIVES (COLLECTIVELY, THE “SERVICE PROVIDER INDEMNITEES” AND INDIVIDUALLY, A “SERVICE PROVIDER INDEMNITEE”) FROM ANY AND ALL CLAIMS, IN WHICH THE SERVICE
PROVIDER INDEMNITEE MAY BE INVOLVED, OR THREATENED TO BE INVOLVED, AS A PARTY OR OTHERWISE, IF AND TO THE EXTENT ARISING OUT OF OR RESULTING FROM ANY ACTS OR OMISSIONS BY THE SERVICE PROVIDER (INCLUDING ITS OWNERS, MANAGERS, OFFICERS, AFFILIATES,
EMPLOYEES, AGENTS AND REPRESENTATIVES) THAT CONSTITUTE OR RESULT FROM THE SERVICE PROVIDER’S BAD FAITH, FRAUD, WILLFUL OR INTENTIONAL MISCONDUCT, CRIMINAL WRONGDOING, OR GROSS NEGLIGENCE. 

  
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 (iii) Expenses incurred by an Indemnitee in defending or investigating a threatened or pending
action, suit or proceeding shall be paid by the Service Recipients in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such Indemnitee to repay such amount if it shall ultimately
be determined that such Indemnitee is not entitled to be indemnified by the Service Recipients. 
 (iv) The indemnification provided by this
Section 2.5 shall continue as to an Indemnitee or Service Recipients Indemnitee who has ceased to serve in such capacity and shall inure to the benefit of the heirs, successors, assigns, administrators and personal
representatives of the Indemnitees or Service Recipients Indemnitees, as applicable. 
 ARTICLE III 

COMPENSATION 

Section 3.1. Fees. The Service Recipients shall compensate the Service Provider for the provision of the services specified
herein at a price equal to the Service Provider’s actually incurred cost of providing such services, including all direct costs and indirect administrative and overhead costs (including the allocable portion of salary, bonus, incentive
compensation and other amounts paid to Persons who provide such services and an allocable portion of rent of office space, equipment and supplies and other office costs and expenses), and an allocable portion of rent of office space, equipment and
supplies and other office costs and expenses for such office space, equipment and supplies used by the Service Recipient’s employees, contractors and service providers allocated in accordance with Service Provider’s regular and consistent
accounting practices. Upon reasonable request, the Service Provider shall provide Service Recipients with financial reports sufficient to permit verification of Service Provider’s costs. 

Section 3.2. Invoicing and Payment. The Service Provider will invoice each Service Recipient from time to time, as
determined by the Service Provider in its sole discretion, subject to the provisions of this Section 3.2. Service Recipients will pay undisputed invoiced amounts promptly after the receipt of each such invoice. The Service
Provider shall send an invoice to each Service Recipient on or before the twentieth (20th) day following the end of each month for charges incurred in the preceding month. Such invoices will be accompanied by statements which identify in reasonable
detail all charges and credits, summarized by appropriate classifications of expense. Unless otherwise provided for in this Agreement, the Service Provider may require each Service Recipients to advance estimated cash outlays for the succeeding
month’s services by the first day of the month for which the advance is required. The Service Provider shall adjust each monthly billing to reflect advances received by each Service Recipients. The Service Recipients shall pay all invoices
within thirty (30) days after receipt. If requested by a Service Recipient, the Service Provider shall either (x) reimburse such Service Recipient at the end of such month the amount of any surplus advanced by or on behalf of such Service
Recipients hereunder, or (y) apply any such surplus to amounts due to be paid by such Service Recipient in the next succeeding month. The payment and other obligations of the Company under any provision of this Agreement are the joint and
several obligations of both the Company and the Corporation. 

  
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 Section 3.3. Disputes. 

(a) A SERVICE RECIPIENT (OR THE AUDIT COMMITTEE OF THE BOARD OF SUCH SERVICE RECIPIENT) MAY, WITHIN 60 DAYS AFTER RECEIPT OF AN INVOICE FROM
THE SERVICE PROVIDER, TAKE WRITTEN EXCEPTION TO ANY CHARGE, ON THE GROUND THAT THE SAME WAS NOT A REASONABLE COST OR EXPENSE INCURRED BY THE SERVICE PROVIDER IN CONNECTION WITH THE PROVISION OF SERVICES. IF THE AMOUNT AS TO WHICH SUCH WRITTEN
EXCEPTION IS TAKEN, OR ANY PART THEREOF, IS ULTIMATELY DETERMINED NOT TO BE A REASONABLE COST OR EXPENSE INCURRED BY THE SERVICE PROVIDER IN CONNECTION WITH THE PROVISION OF SERVICES, SUCH AMOUNT OR PORTION THEREOF (AS THE CASE MAY BE) SHALL BE
REFUNDED BY THE SERVICE PROVIDER TO SUCH SERVICE RECIPIENT. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, A SERVICE RECIPIENT (OR THE AUDIT COMMITTEE OF THE BOARD OF SUCH SERVICE RECIPIENT) MAY TAKE EXCEPTION TO ANY CHARGE WITHIN THE PERIOD
SPECIFIED ABOVE NOTWITHSTANDING THAT THE RELATED INVOICE WAS PAID IN FULL. 
 (b) If, within 20 days after receipt of any written exception
pursuant to Section 3.3(a), a Service Recipient (or the audit committee of the Board of such Service Recipient) and the Service Provider have been unable to resolve any dispute, and if the aggregate amount in dispute exceeds $100,000, such Service
Recipient (or the audit committee of the Board of such Service Recipient) or the Service Provider may submit the dispute to an independent third party accounting firm that is mutually agreeable to such Service Recipient (audit committee of the Board
of such Service Recipient), on the one hand, and the Service Provider, on the other hand. The parties shall cooperate with such accounting firm and shall provide such auditing firm access to such books and records as may be reasonably necessary to
permit a determination by such auditing firm. The resolution by such auditing firm shall be final and binding on the parties. 
 ARTICLE
IV 
 COVENANTS OF THE SERVICE PROVIDER 

Section 4.1. Compliance with Agreements. The Service Provider covenants and agrees to comply in all material respects with
its duties and obligations hereunder. 
 Section 4.2. Maintenance of Qualified Staff and Personnel. The Service Provider
covenants and agrees that it will at all times have available to the Service Recipients during the term of this Agreement personnel, including outside contractors and consultants, which will be adequate in size, experience and competency to
discharge properly the duties and functions of the Service Provider hereunder, including without limitation engineers and other technical personnel, accountants and secretarial and clerical personnel; provided, however, that the Service Provider
may, in its discretion, condition its obligation to provide any additional amount or type of service that may be requested by a Service Recipient from time to time upon (a) reasonable advance notice of such request so that Service Provider may
adequately secure resources to meet such request and (b) receipt by the Service Provider of a sufficient cash deposit from the Service Recipients to cover the amount to be invoiced to the Service Recipients (as estimated by the

  
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Service Provider) for such service for a period of at least 30 days’ provided that, any invoices for such services shall be offset by the amount of the cash deposit. Each Service
Recipients, in its reasonable discretion, shall have the right at any time, to designate employees or contractors of the Service Provider who shall not provide services for such Service Recipient pursuant to this Agreement or otherwise. 

Section 4.3. Situs of Books and Records. The Service Provider covenants and agrees to keep the books, records, files and
other information to be maintained by it hereunder or which comes into its possession pursuant to this Agreement at the same address that it uses for notice purposes hereunder. 

ARTICLE V 
 TERM 

Section 5.1. Term of this Agreement. This Agreement shall continue initially until the anniversary date of this Agreement
in the year 2018, and shall be renewed and shall continue automatically thereafter for additional one year terms unless either party provides written notice to the other party hereto of its desire not to renew this Agreement at least 90 days prior
to such anniversary date; provided, however, that either party hereto may terminate this Agreement, whether during the initial term or any time thereafter (and whether or not in connection with an anniversary date of this Agreement) by giving
written notice of termination to the other party at least 90 days prior to the date as of which such termination is to be effective. 

Section 5.2. Transition Obligations. Upon the termination of this Agreement, the Service Provider shall take all actions
reasonably necessary to effect the transition of the services hereunder to the Service Recipients or to a successor provider or providers of such services designated by the Service Recipients or the Service Recipients in an orderly and expeditious
manner, including the assignment to the Service Recipients, or the service provider(s), as applicable, under any contracts entered into by the Service Provider relating to the performance of such services; provided, however, that the Service
Provider shall not be responsible for (and the Service Recipients shall be responsible for) any payments, costs and expenses required in connection with securing transfer of such contracts. In addition, the Service Provider shall identify to the
Service Recipients, and use good faith efforts to terminate in a cost-effective manner (unless the Service Recipients instructs it otherwise), any continuing payment or other contractual obligations that it or its Affiliates entered into for the
benefit of either Service Recipient and its Affiliates in order to provide the services under this Agreement. The Service Recipients shall continue to be responsible for such payment obligations, and related costs and expenses incurred in connection
with such termination, until such termination is effective. As an example, and without limiting the generality of the foregoing, in the event the Service Provider agreed to lease (in its own name) additional office space to house either or both of
the Service Recipients or their employees or contractors, or Persons used to provide services primarily or exclusively for the benefit of either or both of the Service Recipients and their respective Affiliates, then (unless the Service Recipients
instruct the Service Provider otherwise), upon termination of this Agreement, the Service Provider shall use good faith efforts to terminate such lease of additional office space; and the payment obligations and related costs and expenses it incurs
in connection therewith, including without limitation the rental payments that it is unsuccessful in securing a landlord’s consent to early termination, will be charged to and paid by 

  
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the Service Recipients. In connection with the foregoing, the Service Provider will cooperate with the Service Recipients to minimize such obligations (provided, however, such cooperation shall
not include requiring the Service Provider to terminate lease obligations relating to lease space used by the Service Provider for any purpose other than exclusively for the Service Recipients), and will keep the Service Recipients informed of the
progress of the same. 
 ARTICLE VI 

RELATIONSHIP OF PARTIES; TITLE TO ASSETS; ACCESS RIGHTS 

Section 6.1. Independent Contractor Status. From time to time a Service Recipient may request that the Service Provider act
as an agent of such Service Recipient with respect to the services provided by it hereunder. Notwithstanding anything in this Agreement to the contrary, (a) the relationship of the Service Provider to the Service Recipients shall be and remain
that of an independent contractor; (b) neither the Service Provider nor any Affiliate, director, manager, officer, agent or representative thereof shall be deemed, as a result of this Agreement, to be an employee of the Service Recipients; and
(c) nothing herein shall be deemed or construed to create a partnership or joint venture under applicable state law between the Service Provider, on the one hand, and either or both of the Service Recipients, on the other hand, or to cause a
party hereto (whether the Service Provider, on the one hand, or the Service Recipients, on the other hand) to be responsible in any way for the debts and obligations of the other party hereto. 

Section 6.2. Title to Assets. Notwithstanding anything else herein to the contrary, all real and personal property related
to any of the Properties shall be owned by and acquired in the name of the Service Recipient on whose behalf such Property is being acquired, absent an instruction by the Service Recipients to the contrary. All books and records, files, databases,
geological and geophysical data, engineering data, maps, interpretations and other technical information, and other data and information specifically relating to the Properties, and all software specifically purchased for the primary benefit of
either Service Recipient and paid for primarily with funds furnished by the Service Recipients in connection with the services provided hereunder that are specific to such services, shall be and remain the sole and exclusive properties of such
Service Recipient and (without limiting the provisions of this Section 6.2 or any other provision of this Agreement) shall be delivered to such Service Recipient immediately upon termination of this Agreement. 

Section 6.3. Access. 

(a) The Service Recipients, and their respective representatives, upon written notice to the Service Provider, shall have the right, during
normal business hours, to inspect, review and copy the books, records, files and other information maintained by the Service Provider that relate to its obligations and activities under or with respect to this Agreement, and each party to this
Agreement shall cooperate with the other parties to this Agreement to provide any and all documents and take such other actions as may be reasonably requested by a party to this Agreement, all at the expense of the Service Recipients (or at the
option of the Service Provider, the Service Recipient who requests or whose Affiliates request the same). The Service Recipients, upon written notice to the Service Provider, shall have the right, during normal business hours, to audit the books and
records maintained by the Service Provider hereunder. 

  
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 (b) The Service Provider shall provide the Service Recipients and their respective
representatives, at their sole risk and expense, with access to the Properties to the extent that the Service Provider has the authority to grant such access (subject, however, to the execution of a standard form of release of liability as a result
of entry to any operating asset and agreement to maintain the confidentiality of all information inspected, reviewed and copied and conduct the access in a manner that minimizes the interference with the operation of the Properties). 

ARTICLE VII 

REPRESENTATIONS AND WARRANTIES 

Section 7.1. Service Provider’s Special Representations and Warranties. The Service Provider hereby represents and
warrants to the Service Recipients as follows: 
 (a) The Service Provider is a limited liability company duly organized, validly existing
and in good standing under the laws of the State of Delaware and is qualified as a foreign limited liability company to operate in the State of Texas. 

(b) The Service Provider has full power and authority to enter into and perform its obligations under this Agreement. 

Section 7.2. Parties’ Representations and Warranties. Each party to this Agreement hereby represents and warrants to
the other parties to this Agreement as follows: 
 (a) This Agreement has been duly authorized, executed and delivered by such party,
constitutes the legal, valid and binding obligation of such party and, except as may be affected (i) by bankruptcy, insolvency, moratorium, reorganization and other similar laws and judicial decisions affecting the rights of creditors generally
and (ii) by general principles of equity and public policy (regardless of whether considered at law or in equity), is enforceable against such party in accordance with its terms. 

(b) The execution, delivery and performance of this Agreement by such party, and the consummation of the transactions contemplated hereby by
such party, will not, without the giving of notice or the lapse of time, or both, (i) violate any provision of applicable law, order, injunction or judgment to which such party is subject, (ii) conflict with, or result in a breach or
default under, any term or condition of its governing documents or any agreement or other instrument to which such party is a party or by which its properties are bound, or (iii) require any consent, approval, notification , waiver or other
similar action from any third party. 
 ARTICLE VIII 

MISCELLANEOUS 

Section 8.1. Notices. All notices, requests or consents provided for or permitted to be given under this Agreement shall be
in writing and shall be considered as properly given or made on the date of actual delivery if given by (a) personal delivery, (b) United States mail, (c) expedited overnight delivery service with proof of delivery, or (d) via
email or facsimile with confirmation of delivery. 

  
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 Section 8.2. Entire Agreement. This Agreement constitutes the entire agreement
of the parties hereto relating to the subject matter of this Agreement and supersedes all prior contracts or agreements with respect thereto, whether oral or written, including without limitation that certain Administrative Services Agreement by and
between the Company and the Service Provider, as previously amended or modified, that was in effect prior to the date hereof. Except as provided in Section 2.5, nothing in this Agreement, express or implied, is intended to
confer upon any other Person (other than the parties to this Agreement), any rights or remedies under or by reason of this Agreement. 

Section 8.3. Effect of Waiver or Consent. A waiver or consent, express or implied, to or of any breach or default by any
party in the performance by that party of its obligations under this Agreement will not constitute a consent or waiver to or of any other breach or default or any other obligations under this Agreement. Failure on the part of a party to this
Agreement to complain of any act of the other party to this Agreement or to declare the other party in default with respect to this Agreement, irrespective of how long such failure continues, will not constitute a waiver by that party of its rights
with respect to that default until the applicable limitations period has expired. 
 Section 8.4. Amendment or
Modification. Except as otherwise expressly provided in this Agreement, any amendment or modification to this Agreement requires the written consent or approval of the parties to this Agreement. 

Section 8.5. Binding Effect. This Agreement will be binding on and inure to the benefit of the parties hereto and their
respective successors and assigns. Notwithstanding the foregoing, neither party shall assign this Agreement, in whole or in part, to any other Person without the express prior written consent of the other party to this Agreement, determined in such
other party’s sole and absolute discretion. 
 Section 8.6. Governing Law; Severability; Waiver of Jury Trial. 

 (a) This Agreement is governed by and will be construed in accordance with the laws of the State of Texas, excluding any conflict-of-laws rule or principle (whether under the laws of Texas or any other jurisdiction) that might refer the governance or the construction of this Agreement to the law
of another jurisdiction. If any provision of this Agreement or its application to any party or circumstance is held invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provision to other Persons or
circumstances will not be affected thereby, and such provision will be enforced to the greatest extent permitted by law. 
 (b) THE
PARTIES HERETO VOLUNTARILY AND IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF TEXAS AND THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA IN HARRIS COUNTY, TEXAS, OVER ANY DISPUTE BETWEEN THE PARTIES ARISING OUT OF THIS
AGREEMENT, AND EACH PARTY IRREVOCABLY AGREE THAT ALL SUCH CLAIMS IN RESPECT OF SUCH DISPUTE SHALL BE HEARD AND DETERMINED IN SUCH COURTS. EACH PARTY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION

  
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WHICH SUCH PARTY MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH DISPUTE ARISING OUT OF THIS AGREEMENT BROUGHT IN SUCH COURT OR ANY DEFENSE OF INCONVENIENT FORUM FOR THE MAINTENANCE OF SUCH
DISPUTE. EACH PARTY AGREES THAT A JUDGMENT IN ANY SUCH DISPUTE MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 

(c) EACH OF THE PARTIES HERETO HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES TRIAL BY JURY IN ANY DISPUTE (AS DEFINED BELOW) OR OTHER PROCEEDING
RELATED THERETO BROUGHT IN CONNECTION WITH THIS AGREEMENT. 
 Section 8.7. Survivability. The various
representations, warranties, covenants, agreements and duties in and under this Agreement shall survive the execution and delivery of this Agreement and terminate upon termination or expiration of this Agreement, except for Articles III, VI, VII,
VIII and Section 2.5(b) and 2.5(c). 
 Section 8.8. Further Assurances. In connection
with this Agreement and the transactions contemplated hereby, each party to this Agreement will execute and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and
perform the provisions of this Agreement and such transactions. 
 Section 8.9. Confidentiality. Each party to this
Agreement will, and will cause each of its directors, officers, agents or other representatives to, keep confidential all non-public information received from or otherwise relating to, the other party to this
Agreement and such other party’s subsidiaries, equity holders, properties and businesses (“Confidential Information”), and will not, and will not permit its directors, officers, agents and other representatives to,
(a) disclose Confidential Information to any other Person other than (i) to another party hereto for a valid business purpose relating to its rights and obligations under this Agreement, (ii) in the case of the Service Provider (and
its directors, officers, agents and other representatives), in carrying its duties in the best interests of the Service Recipients, or (iii) in the case of the Service Recipients, to any Person who is a potential acquirer of either or both of
the Service Recipients or any of their respective subsidiaries (or of all or substantially all of the assets of either or both of the Service Recipients or any of their respective subsidiaries) so long as such Person is subject to a confidentiality
agreement with respect to the Confidential Information, or (b) use Confidential Information for anything other than as necessary and appropriate in carrying out its rights and obligations under this Agreement. The restrictions set forth herein
do not apply to any disclosures required by law or regulatory authority (pursuant to the advice of counsel), so long as (x) the Person subject to such disclosure obligations provides prior written notice (to the extent reasonably practicable
and permitted by applicable law) to the other party to this Agreement stating the basis upon which the disclosure is asserted to be required, and (y) the Person subject to such disclosure obligations takes all reasonable steps permitted by
applicable law (without the obligation to spend money or incur liabilities) to oppose or mitigate any such disclosure. As used herein the term “Confidential Information” shall not include information that (i) is or becomes
generally available to the public other than as a result of a disclosure by the other party to this Agreement (or its directors, officers, agents or other representatives) in violation of this Agreement, (ii) is or was available to such
disclosing party on a non-confidential basis prior to 

  
 13 

 
its disclosure by the other party to this Agreement or (iii) was or becomes available to such party on a non-confidential basis from a source other
than the other party to this Agreement, which source is or was (at the time of receipt of the relevant information) not, to the best of such party’s knowledge, bound by a confidentiality agreement with (or other confidentiality obligation to)
the other party to this Agreement. 
 Section 8.10. Counterparts. This Agreement may be executed in any number of
counterparts, by facsimile or electronic signatures or otherwise, with the same effect as if all signatories had signed the same document. All counterparts will be construed together and constitute the same instrument. 

Section 8.11. Electronic Transmissions. Each of the parties hereto agrees that (a) any consent or signed document
transmitted by electronic transmission shall be treated in all manner and respects as an original written document, (b) any such consent or document shall be considered to have the same binding and legal effect as an original document and
(c) at the request of any party hereto, any such consent or document shall be re-delivered or re-executed, as appropriate, by the relevant party or parties in its
original form. Each of the parties further agrees that they will not raise the transmission of a consent or document by electronic transmission as a defense in any proceeding or action in which the validity of such consent or document is at issue
and hereby forever waives such defense. For purposes of this Agreement, the term “electronic transmission” means any form of communication not directly involving the physical transmission of paper, that creates a record that may be
retained, retrieved and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a recipient through an automated process. 

(*Remainder of Page Intentionally Left Blank Signature Page Follows*) 

  
 14 

 IN WITNESS WHEREOF, each of the undersigned parties has caused this Amended and Restated
Administrative Services Agreement to be duly executed by its authorized officer or representative, effective as of the date first written above. 
  

					
	SOLARIS OILFIELD INFRASTRUCTURE, INC.
	
	By:                                   
                                         
                    
	Name:                                   
                                         
              
	Title:                                   
                                         
                
	
	SOLARIS OILFIELD INFRASTRUCTURE, LLC
	
	By:                                   
                                         
                    
	Name:                                   
                                         
              
	Title:                                   
                                         
                
	
	Address For Notice Purposes for either Service Recipient:
	Solaris Oilfield Infrastructure, Inc.
	9811 Katy Freeway, Suite 900
	Houston, Texas 77024
	Attention: Kyle Ramachandran
	Fax: 713-574-2960
	
	SOLARIS ENERGY MANAGEMENT, LLC
	
	By:                                   
                                         
                    
	Name:                                   
                                         
              
	Title:                                   
                                         
                
	
	Address For Notice Purposes:
	Solaris Energy Management, LLC
	9811 Katy Freeway, Suite 900
	Houston, Texas 77024
	Attention: Chris Work
	Fax: 713-574-2960

 Signature Page to 

Amended and Restated Administrative Services Agreement

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