Document:

Exhibit

REGISTRATION RIGHTS AGREEMENT
BY AND BETWEEN
SUNOCO LP
AND
ENERGY TRANSFER EQUITY, L.P.

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TABLE OF CONTENTS

	
					
	ARTICLE I DEFINITIONS
	1
	

	 
	Section 1.01
	Definitions
	1
	

	 
	Section 1.02
	Registrable Securities
	2
	

	 
	 
	 
	 

	ARTICLE II REGISTRATION RIGHTS
	2
	

	 
	 
	 
	 

	 
	Section 2.01
	Shelf Registration
	2
	

	 
	Section 2.02
	Delay Rights
	3
	

	 
	Section 2.03
	Underwritten Offerings
	3
	

	 
	Section 2.04
	Sale Procedures
	4
	

	 
	Section 2.05
	Cooperation by Holders
	6
	

	 
	Section 2.06
	Restrictions on Public Sale by Holders of Registrable Securities
	6
	

	 
	Section 2.07
	Expenses
	7
	

	 
	Section 2.08
	Indemnification
	7
	

	 
	Section 2.09
	Rule 144 Reporting
	9
	

	 
	Section 2.10
	Transfer or Assignment of Registration Rights
	9
	

	 
	 
	 
	 

	ARTICLE III MISCELLANEOUS
	10
	

	 
	 
	 
	 

	 
	Section 3.01
	Communications
	10
	

	 
	Section 3.02
	Successor and Assigns
	10
	

	 
	Section 3.03
	Assignment of Rights
	10
	

	 
	Section 3.04
	Recapitalization, Exchanges, Etc. Affecting the Common Units
	10
	

	 
	Section 3.05
	Aggregation of Registrable Securities
	11
	

	 
	Section 3.06
	Specific Performance
	11
	

	 
	Section 3.07
	Counterparts
	11
	

	 
	Section 3.08
	Headings
	11
	

	 
	Section 3.09
	Governing Law
	11
	

	 
	Section 3.10
	Severability of Provisions
	11
	

	 
	Section 3.11
	Entire Agreement
	11
	

	 
	Section 3.12
	Amendment
	11
	

	 
	Section 3.13
	No Presumption
	12
	

	 
	Section 3.14
	Obligations Limited to Parties to Agreement
	12
	

	 
	Section 3.15
	Interpretation
	12
	

REGISTRATION RIGHTS AGREEMENT
This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of March 31, 2016, by and between Sunoco LP, a Delaware limited partnership (the “Partnership”), and Energy Transfer Equity, L.P., a Delaware limited partnership (the “Purchaser”).
WHEREAS, this Agreement is made and entered into in connection with the Closing of the issuance and sale of the Purchased Units pursuant to the Common Unit Purchase Agreement, dated as of November 15, 2015, by and between the Partnership and the Purchaser (the “Common Unit Purchase Agreement”); and
WHEREAS, the Partnership has agreed to provide the registration and other rights set forth in this Agreement for the benefit of the Purchaser pursuant to the Common Unit Purchase Agreement.
NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each party hereto, the parties hereby agree as follows:

ARTICLE I
DEFINITIONS
Section 1.01 Definitions.  Capitalized terms used herein without definition shall have the meanings given to them in the Common Unit Purchase Agreement.  The terms set forth below are used herein as so defined:
“Affiliate” means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 
“Agreement” has the meaning specified therefor in the introductory paragraph of this Agreement.
“Commission” means the U.S. Securities and Exchange Commission.
“Common Unit Purchase Agreement” has the meaning specified therefor in the recitals of this Agreement. 
“Effectiveness Period” has the meaning specified therefor in Section 2.01 of this Agreement.
“General Partner” means Sunoco GP LLC, a Delaware limited liability company.
“Holder” means the record holder of any Registrable Securities.
“Losses” has the meaning specified therefor in Section 2.08(a) of this Agreement.
“Managing Underwriter” means, with respect to any Underwritten Offering, the book-running lead manager or managers of such Underwritten Offering.
  “Partnership” has the meaning specified therefor in the introductory paragraph of this Agreement.
“Person” means an individual or a corporation, limited liability company, partnership, firm, joint venture, trust, unincorporated organization, association, government agency or political subdivision thereof or other entity.

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“Purchaser” has the meaning specified therefor in the introductory paragraph of this Agreement.
“Registrable Securities” means the Common Units to be acquired by the Purchaser pursuant to the Common Unit Purchase Agreement, and also includes any type of interest issued to the Holders pursuant to Section 3.04.
“Registration Expenses” has the meaning specified therefor in Section 2.07(b) of this Agreement.
“Registration Statement” has the meaning specified therefor in Section 2.01 of this Agreement. 
“Selling Expenses” has the meaning specified therefor in Section 2.07(b) of this Agreement.
“Selling Holder” means a Holder who is selling Registrable Securities pursuant to a registration statement.
“Selling Holder Indemnified Persons” has the meaning specified therefor in Section 2.08(a) of this Agreement.
“Underwritten Offering” means an offering (including an offering pursuant to a Registration Statement) in which Common Units are sold to an underwriter on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” with one or more investment banks.
Section 1.02 Registrable Securities.  Any Registrable Security will cease to be a Registrable Security (a) when a registration statement covering such Registrable Security becomes or has been declared effective by the Commission and such Registrable Security has been sold or disposed of pursuant to such effective registration statement; (b) when such Registrable Security has been disposed of pursuant to any section of Rule 144 (or any similar provision then in effect) under the Securities Act; (c) when such Registrable Security is held by the Partnership or one of its subsidiaries or Affiliates; (d) when such Registrable Security has been sold or disposed of in a private transaction in which the transferor’s rights under this Agreement are not assigned to the transferee of such securities pursuant to Section 2.10 hereof or (e) when such Registrable Security becomes eligible for resale without restriction and without the need for current public information pursuant to any section of Rule 144 (or any similar provision then in effect) under the Securities Act.

ARTICLE II
REGISTRATION RIGHTS
Section 2.01 Shelf Registration.  At the option and upon the request of the Holders of a majority of the then-outstanding Registrable Securities (based on the Common Unit Price), the Partnership shall prepare and file a registration statement under the Securities Act to permit the public resale of Registrable Securities then outstanding from time to time as permitted by Rule 415 (or any similar provision then in effect) of the Securities Act with respect to all of the Registrable Securities (the “Registration Statement”). The Partnership shall use its reasonable best efforts to file the Registration Statement within 45 days of any such request and cause it to be effective as soon as reasonably practicable thereafter; provided, however, that the Partnership shall not be required to effect more than three registrations pursuant to this Section 2.01.  The Registration Statement filed pursuant to this Section 2.01 shall be on such appropriate registration form or forms of the Commission as shall be selected by the Partnership so long as it permits the continuous offering of the Registrable Securities pursuant to Rule 415 (or any similar provision then in effect) under the Securities Act at then-prevailing market prices.  The Partnership shall use its commercially reasonable efforts to cause the Registration Statement to become effective on or as soon as practicable after filing. Any Registration Statement shall provide for the resale pursuant to any method or combination of methods legally available 

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to, and requested by, the Holders of any and all Registrable Securities covered by such Registration Statement.  The Partnership shall use its commercially reasonable efforts to cause the Registration Statement filed pursuant to this Section 2.01 to be effective, supplemented and amended to the extent necessary to ensure that it is available for the resale of all Registrable Securities by the Holders until all Registrable Securities covered by such Registration Statement have ceased to be Registrable Securities (the “Effectiveness Period”).  The Registration Statement when effective (including the documents incorporated therein by reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus contained in such Registration Statement or documents incorporated therein by reference, in the light of the circumstances under which a statement is made).  If the General Partner determines in good faith that the requested registration pursuant to this Section 2.01 would (a) materially interfere with a significant acquisition, reorganization, financing or other similar transaction involving the Partnership, (b) require premature disclosure of material information that the Partnership has a bona fide business purpose for preserving as confidential or (c) render the Partnership unable to comply with applicable securities laws, then the Partnership shall have the right to postpone such requested registration for a period of not more than three months after receipt of the Holder’s request, such right pursuant to this Section 2.01 not to be utilized more than twice in any twelve-month period. As soon as practicable following the date that the Registration Statement becomes effective, but in any event within two (2) Business Days of such date, the Partnership shall provide the Holders with written notice of the effectiveness of the Registration Statement.  
Section 2.02  Delay Rights.  Notwithstanding anything to the contrary contained herein, the Partnership may, upon written notice to any Selling Holder whose Registrable Securities are included in the Registration Statement, suspend such Selling Holder’s use of any prospectus which is a part of the Registration Statement (in which event the Selling Holder shall discontinue sales of the Registrable Securities pursuant to the Registration Statement but may settle any previously made sales of Registrable Securities) if, in the General Partner’s good faith determination, such use would (a) materially interfere with a significant acquisition, reorganization, financing or other similar transaction involving the Partnership, (b) require premature disclosure of material information that the Partnership has a bona fide business purpose for preserving as confidential or (c) render the Partnership unable to comply with applicable securities laws; provided, however, in no event shall the Selling Holders be suspended from selling Registrable Securities pursuant to the Registration Statement for a period that exceeds an aggregate of 60 days in any 180-day period or 105 days in any 365-day period, in each case, exclusive of days covered by any lock-up agreement executed by a Selling Holder in connection with any Underwritten Offering.  Upon disclosure of such information or the termination of the condition described above, the Partnership shall provide prompt notice to the Selling Holders whose Registrable Securities are included in the Registration Statement, and shall promptly terminate any suspension of sales it has put into effect and shall take such other reasonable actions to permit registered sales of Registrable Securities as contemplated in this Agreement.
Section 2.03 Underwritten Offerings.  In connection with any Underwritten Offering under this Agreement, the Partnership shall be entitled to select the Managing Underwriter or Underwriters.  In connection with an Underwritten Offering contemplated by this Agreement in which a Selling Holder participates, each Selling Holder and the Partnership shall be obligated to enter into an underwriting agreement that contains such representations, covenants, indemnities and other rights and obligations as are customary in underwriting agreements for firm commitment offerings of securities.  No Selling Holder may participate in such Underwritten Offering unless such Selling Holder agrees to sell its Registrable Securities on the basis provided in such underwriting agreement and completes and executes all questionnaires, powers of attorney, indemnities and other documents reasonably required under the terms of such underwriting agreement.  Each Selling Holder may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, the Partnership to and for the benefit of such underwriters also be made to 

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and for such Selling Holder’s benefit and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also be conditions precedent to its obligations.  No Selling Holder shall be required to make any representations or warranties to or agreements with the Partnership or the underwriters other than representations, warranties or agreements regarding such Selling Holder, its authority to enter into such underwriting agreement and to sell, and its ownership of, the securities being registered on its behalf, its intended method of distribution and any other representation required by Law.  If any Selling Holder disapproves of the terms of an underwriting, such Selling Holder may elect to withdraw therefrom by notice to the Partnership and the Managing Underwriter; provided, however, that such withdrawal must be made up to and including the time of pricing of such Underwritten Offering.  No such withdrawal or abandonment shall affect the Partnership’s obligation to pay Registration Expenses.  The Partnership’s management may but shall not be required to participate in a roadshow or similar marketing effort in connection with any Underwritten Offering.
Section 2.04  Sale Procedures.  In connection with its obligations under this Article II, the Partnership will, as expeditiously as possible:
(a)prepare and file with the Commission such amendments and supplements to the Registration Statement and the prospectus or prospectus supplement used in connection therewith as may be necessary to keep the Registration Statement effective for the Effectiveness Period and as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by the Registration Statement;
(b)if a prospectus or prospectus supplement will be used in connection with the marketing of an Underwritten Offering from the Registration Statement and the Managing Underwriter at any time shall notify the Partnership in writing that, in the sole judgment of such Managing Underwriter, inclusion of detailed information to be used in such prospectus or prospectus supplement is of material importance to the success of the Underwritten Offering of such Registrable Securities, the Partnership shall use its commercially reasonable efforts to include such information in such prospectus or prospectus supplement;
(c)furnish to each Selling Holder (i) as far in advance as reasonably practicable before filing the Registration Statement or any supplement or amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed (including exhibits and each document incorporated by reference therein to the extent then required by the rules and regulations of the Commission), and provide each such Selling Holder the opportunity to object to any information pertaining to such Selling Holder and its plan of distribution that is contained therein and make the corrections reasonably requested by such Selling Holder with respect to such information prior to filing the Registration Statement or supplement or amendment thereto, and (ii) such number of copies of the Registration Statement and the prospectus or prospectus supplement included therein and any supplements and amendments thereto as such Selling Holder may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities covered by such Registration Statement;
(d)if applicable, use its commercially reasonable efforts to register or qualify the Registrable Securities covered by the Registration Statement under the securities or blue sky laws of such jurisdictions as the Selling Holders or, in the case of an Underwritten Offering, the Managing Underwriter, shall reasonably request; provided, however, that the Partnership will not be required to qualify generally to transact business in any jurisdiction where it is not then required to so qualify or to take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject;
(e)promptly notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered by any of them under the Securities Act, of (i) the filing of the Registration Statement or any prospectus or prospectus supplement to be used in connection therewith, or any amendment or supplement 

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thereto, and, with respect to such Registration Statement or any post-effective amendment thereto, when the same has become effective; and (ii) the receipt of any written comments from the Commission with respect to any filing referred to in clause (i) and any written request by the Commission for amendments or supplements to the Registration Statement or any prospectus or prospectus supplement thereto;
(f)promptly notify each Selling Holder of (i) the happening of any event as a result of which the prospectus or prospectus supplement contained in the Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus or prospectus supplement contained therein, in the light of the circumstances under which a statement is made); (ii) the issuance or express threat of issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, or the initiation of any proceedings for that purpose; or (iii) the receipt by the Partnership of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction.  Following the provision of such notice, the Partnership agrees to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take other appropriate action so that the prospectus or prospectus supplement does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing and to take such other commercially reasonable action as is necessary to remove a stop order, suspension, threat thereof or proceedings related thereto;
(g)upon request and subject to appropriate confidentiality obligations, furnish to each Selling Holder copies of any and all transmittal letters or other correspondence with the Commission or any other governmental agency or self-regulatory body or other body having jurisdiction (including any domestic or foreign securities exchange) relating to such offering of Registrable Securities;
(h)in the case of an Underwritten Offering, furnish upon request, (i) an opinion of counsel for the Partnership dated the date of the closing under the underwriting agreement and (ii) a “comfort” letter, dated the pricing date of such Underwritten Offering and a letter of like kind dated the date of the closing under the underwriting agreement, in each case, signed by the independent public accountants who have certified the Partnership’s financial statements included or incorporated by reference into the applicable registration statement, and each of the opinion and the “comfort” letter shall be in customary form and covering substantially the same matters with respect to such registration statement (and the prospectus and any prospectus supplement included therein) as have been customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to the underwriters in Underwritten Offerings of securities by the Partnership and such other matters as such underwriters and Selling Holders may reasonably request;
(i)otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available to its security holders, as soon as reasonably practicable, an earnings statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder;
(j)make available to the appropriate representatives of the Managing Underwriter and Selling Holders access to such information and Partnership personnel as is reasonable and customary to enable such parties to establish a due diligence defense under the Securities Act; provided, that the Partnership need not disclose any non-public information to any such representative unless and until such representative has entered into a confidentiality agreement with the Partnership;
(k)cause all such Registrable Securities registered pursuant to this Agreement to be listed on each securities exchange or nationally recognized quotation system on which similar securities issued by the Partnership are then listed;

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(l)use its commercially reasonable efforts to cause the Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Partnership to enable the Selling Holders to consummate the disposition of such Registrable Securities;
(m)provide a transfer agent and registrar for all Registrable Securities covered by such registration statement not later than the effective date of such registration statement; 
(n)enter into customary agreements and take such other actions as are reasonably requested by the Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition of such Registrable Securities; and 
(o)if requested by a Selling Holder, (i) incorporate in a prospectus or prospectus supplement or post-effective amendment to the Registration Statement such information as such Selling Holder reasonably requests to be included therein relating to the sale and distribution of Registrable Securities, including information with respect to the number of Registrable Securities being offered or sold, the purchase price being paid therefor and any other terms of the offering of the Registrable Securities to be sold in such offering and (ii) make all required filings of such prospectus or prospectus supplement or post-effective amendment after being notified of the matters to be incorporated in such prospectus or prospectus supplement or post-effective amendment. 
The Partnership shall not name a Holder as an underwriter as defined in Section 2(a)(11) of the Securities Act in any registration statement without such Holder’s consent. If the staff of the Commission requires the Partnership to name any Holder as an underwriter as defined in Section 2(a)(11) of the Securities Act, and such Holder does not consent thereto, then such Holder’s Registrable Securities shall not be included on the Registration Statement , the Partnership shall have no further obligations hereunder with respect to Registrable Securities held by such Holder and such Holder shall have been deemed to have terminated this Agreement with respect to such Holder.
Each Selling Holder, upon receipt of notice from the Partnership of the happening of any event of the kind described in subsection (f) of this Section 2.04, shall forthwith discontinue offers and sales of the Registrable Securities by means of a prospectus or prospectus supplement until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus or prospectus supplement contemplated by subsection (f) of this Section 2.04 or until it is advised in writing by the Partnership that the use of the prospectus or prospectus supplement may be resumed and has received copies of any additional or supplemental filings incorporated by reference in the prospectus or prospectus supplement, and, if so directed by the Partnership, such Selling Holder will, or will request the Managing Underwriter or Underwriters, if any, to deliver to the Partnership (at the Partnership’s expense) all copies in their possession or control, other than permanent file copies then in such Selling Holder’s possession, of the prospectus or prospectus supplement covering such Registrable Securities current at the time of receipt of such notice.
Section 2.05  Cooperation by Holders.  The Partnership shall have no obligation to include Registrable Securities of a Holder in the Registration Statement who has failed to timely furnish such information that the Partnership determines, after consultation with its counsel, is reasonably required in order for the registration statement or prospectus or prospectus supplement, as applicable, to comply with the Securities Act.
Section 2.06  Restrictions on Public Sale by Holders of Registrable Securities.  Each Holder of Registrable Securities agrees, if requested by the underwriters of an Underwritten Offering, to enter into a customary letter agreement with such underwriters providing such Holder will not effect any public sale or distribution of Registrable Securities during the 60 calendar day period beginning on the date of a prospectus 

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or prospectus supplement filed with the Commission with respect to the pricing of any Underwritten Offering, provided that (i) the duration of the foregoing restrictions shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the Partnership or the officers, directors or any other Affiliate of the Partnership on whom a restriction is imposed and (ii) the restrictions set forth in this Section 2.06 shall not apply to any Registrable Securities that are included in such Underwritten Offering by such Holder. 
Section 2.07  Expenses The Partnership will pay all reasonable Registration Expenses as determined in good faith, including, in the case of an Underwritten Offering, whether or not any sale is made pursuant to such Underwritten Offering.  Each Selling Holder shall pay its pro rata share of all Selling Expenses in connection with any sale of its Registrable Securities hereunder.  In addition, except as otherwise provided in Section 2.08 hereof, the Partnership shall not be responsible for professional fees incurred by Holders in connection with the exercise of such Holders’ rights hereunder.
(b)Certain Definitions.  “Registration Expenses” means all expenses incident to the Partnership’s performance under or compliance with this Agreement to effect the registration of Registrable Securities on the Registration Statement pursuant to Section 2.01 or an Underwritten Offering covered under this Agreement, and the disposition of such Registrable Securities, including, without limitation, all registration, filing, securities exchange listing and NYSE fees, all registration, filing, qualification and other fees and expenses of complying with securities or blue sky laws, fees of the Financial Industry Regulatory Authority, fees of transfer agents and registrars, all word processing, duplicating and printing expenses, any transfer taxes and the fees and disbursements of counsel and independent public accountants for the Partnership, including the expenses of any special audits or “comfort” letters required by or incident to such performance and compliance.  “Selling Expenses” means all underwriting fees, discounts and selling commissions or similar fees or arrangements allocable to the sale of the Registrable Securities.
Section 2.08  Indemnification By the Partnership.  In the event of a registration of any Registrable Securities under the Securities Act pursuant to this Agreement, the Partnership will indemnify and hold harmless each Selling Holder thereunder, its directors, officers, employees and agents and each Person, if any, who controls such Selling Holder within the meaning of the Securities Act and the Exchange Act, and its directors, officers, employees or agents (collectively, the “Selling Holder Indemnified Persons”), against any losses, claims, damages, expenses or liabilities (including reasonable attorneys’ fees and expenses) (collectively, “Losses”), joint or several, to which such Selling Holder Indemnified Person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact (in the case of any prospectus or prospectus supplement, in the light of the circumstances under which such statement is made) contained in the Registration Statement, any preliminary prospectus, preliminary prospectus supplement, free writing prospectus or final prospectus or prospectus supplement contained therein, or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus or prospectus supplement, in the light of the circumstances under which they were made) not misleading, and will reimburse each such Selling Holder Indemnified Person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Loss or actions or proceedings; provided, however, that the Partnership will not be liable in any such case if and to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by such Selling Holder Indemnified Person in writing specifically for use in the Registration Statement, preliminary prospectus, preliminary prospectus supplement, free writing prospectus, or final prospectus or prospectus supplement contained therein, or any amendment or supplement thereof.  Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of 

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such Selling Holder Indemnified Person, and shall survive the transfer of such securities by such Selling Holder.
(b)By Each Selling Holder.  Each Selling Holder agrees severally and not jointly to indemnify and hold harmless the Partnership, the General Partner, its directors, officers, employees and agents and each Person, if any, who controls the Partnership within the meaning of the Securities Act or of the Exchange Act, and its directors, officers, employees and agents, to the same extent as the foregoing indemnity from the Partnership to the Selling Holders, but only with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for inclusion in the Registration Statement, any preliminary prospectus, preliminary prospectus supplement, free writing prospectus or final prospectus or prospectus supplement contained therein, or any amendment or supplement thereof; provided, however, that the liability of each Selling Holder shall not be greater in amount than the dollar amount of the proceeds (net of any Selling Expenses) received by such Selling Holder from the sale of the Registrable Securities giving rise to such indemnification.
(c)Notice.  Promptly after receipt by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from any liability that it may have to any indemnified party other than under this Section 2.08.  In any action brought against any indemnified party, it shall notify the indemnifying party of the commencement thereof.  The indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 2.08 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected; provided, however, that, (i) if the indemnifying party has failed to assume the defense or employ counsel reasonably acceptable to the indemnified party or (ii) if the defendants in any such action include both the indemnified party and the indemnifying party and counsel to the indemnified party shall have concluded that there may be reasonable defenses available to the indemnified party that are different from or additional to those available to the indemnifying party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, then the indemnified party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other reasonable expenses related to such participation to be reimbursed by the indemnifying party as incurred.  Notwithstanding any other provision of this Agreement, no indemnifying party shall settle any action brought against any indemnified party with respect to which such indemnified party is entitled to indemnification hereunder without the consent of the indemnified party, unless the settlement thereof imposes no liability or obligation on, and includes a complete and unconditional release from all liability of, the indemnified party.
(d)Contribution.  If the indemnification provided for in this Section 2.08 is held by a court or government agency of competent jurisdiction to be unavailable to any indemnified party or is insufficient to hold them harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of such indemnified party on the other in connection with the statements or omissions that resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall such Selling Holder be required to contribute an aggregate amount in excess of the dollar amount of proceeds (net of Selling Expenses) received by such Selling Holder from the sale of Registrable Securities giving rise to such indemnification.  The relative fault of the indemnifying party on the one hand and the 

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indemnified party on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has been made by, or relates to, information supplied by such party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.  The parties hereto agree that it would not be just and equitable if contributions pursuant to this paragraph were to be determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to herein.  The amount paid by an indemnified party as a result of the Losses referred to in the first sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any Loss that is the subject of this paragraph.  No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation.
(e)Other Indemnification.  The provisions of this Section 2.08 shall be in addition to any other rights to indemnification or contribution that an indemnified party may have pursuant to law, equity, contract or otherwise.
Section 2.09  Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the Commission that may permit the sale of the Registrable Securities to the public without registration, the Partnership agrees to:
(a)use commercially reasonable efforts to make and keep public information regarding the Partnership available, as those terms are understood and defined in Rule 144 under the Securities Act, at all times from and after the date hereof;
(b)use commercially reasonable efforts to file with the Commission in a timely manner all reports and other documents required of the Partnership under the Securities Act and the Exchange Act at all times from and after the date hereof; and
(c)so long as a Holder owns any Registrable Securities, furnish, (i) to the extent accurate, forthwith upon request, a written statement of the Partnership that it has complied with the reporting requirements of Rule 144 under the Securities Act, and (ii) unless otherwise available via EDGAR, to such Holder forthwith upon request a copy of the most recent annual or quarterly report of the Partnership, and such other reports and documents so filed as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such Holder to sell any such securities without registration.
Solely for purposes of this Section 2.09, the term “Registrable Securities” shall be read without regard to the limitation set forth in Section 1.02(e).
Section 2.10  Transfer or Assignment of Registration Rights.The rights to cause the Partnership to register Registrable Securities granted to the Purchaser by the Partnership under this Article II may be transferred or assigned by the Purchaser to one or more transferees or assignees of Registrable Securities; provided, however, that (a) unless the transferee or assignee is an Affiliate of, and after such transfer or assignment continues to be an Affiliate of, the Purchaser, the amount of Registrable Securities transferred or assigned to such transferee or assignee shall represent at least $25 million of Registrable Securities (based on the Common Unit Price), (b) the Partnership is given written notice prior to any said transfer or assignment, stating the name and address of each such transferee or assignee and identifying the securities with respect to which such registration rights are being transferred or assigned, (c) each such transferee or assignee assumes in writing responsibility for its portion of the obligations of the Purchaser under this Agreement and (d) the transferor or assignor is not relieved of any obligations or liabilities hereunder arising out of events occurring prior to such transfer.

9

ARTICLE III
MISCELLANEOUS
Section 3.01  Communications.  All notices and other communications provided for or permitted hereunder shall be made in writing by facsimile, electronic mail, courier service or personal delivery:
(a)if to the Purchaser:
Energy Transfer Equity, L.P.
c/o LE GP, LLC
8111 Westchester Drive
Dallas, Texas 75225
Attention: John McReynolds
Electronic Mail: John.McReynolds@energytransfer.com

(b)if to a transferee of the Purchaser, to such Holder at the address provided pursuant to Section 2.10 above; and
(c)if to the Partnership:
Sunoco LP
c/o Sunoco GP LLC
3801 West Chester Pike
Newtown Square, PA 19073
Attention: Associate General Counsel
Electronic Mail: Marci.Donnelly@energytransfer.com
with a copy to:
Latham & Watkins LLP
811 Main Street, 37th Floor
Houston, Texas 77002
Attention: Debbie P. Yee
Facsimile: 713.546.5401
Electronic Mail: Debbie.Yee@lw.com

All such notices and communications shall be deemed to have been received at the time delivered by hand, if personally delivered; when receipt acknowledged, if sent via facsimile or sent via Internet electronic mail; and when actually received, if sent by courier service or any other means.
Section 3.02 Successor and Assigns.  This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties, including subsequent Holders of Registrable Securities to the extent permitted herein.
Section 3.03  Assignment of Rights.  All or any portion of the rights and obligations of the Purchaser under this Agreement may be transferred or assigned by the Purchaser only in accordance with Section 2.10 hereof.
Section 3.04  Recapitalization, Exchanges, Etc. Affecting the Common Units.  The provisions of this Agreement shall apply to the full extent set forth herein with respect to any and all units of the Partnership 

10

or any successor or assign of the Partnership (whether by merger, consolidation, sale of assets or otherwise) that may be issued in respect of, in exchange for or in substitution of, the Registrable Securities, and shall be appropriately adjusted for combinations, unit splits, recapitalizations, pro rata distributions of units and the like occurring after the date of this Agreement.
Section 3.05  Aggregation of Registrable Securities.  All Registrable Securities held or acquired by Persons who are Affiliates of one another shall be aggregated together for the purpose of determining the availability of any rights and applicability of any obligations under this Agreement.
Section 3.06 Specific Performance.  Damages in the event of breach of this Agreement by a party hereto may be difficult, if not impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without limiting any other remedy or right it may have, will have the right to an injunction or other equitable relief in any court of competent jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each of the parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court to grant such an injunction or other equitable relief.  The existence of this right will not preclude any such Person from pursuing any other rights and remedies at law or in equity that such Person may have.
Section 3.07  Counterparts.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.
Section 3.08  Headings.  The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.
Section 3.09 Governing Law.  THIS AGREEMENT WILL BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK.
Section 3.10  Severability of Provisions.  Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting or impairing the validity or enforceability of such provision in any other jurisdiction.
Section 3.11  Entire Agreement.  This Agreement, the Common Unit Purchase Agreement and the other agreements and documents referred to herein are intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein.  There are no restrictions, promises, warranties, representations or undertakings, other than those set forth or referred to herein with respect to the rights granted by the Partnership set forth herein.  This Agreement and the Common Unit Purchase Agreement supersede all prior agreements and understandings between the parties with respect to such subject matter.
Section 3.12 Amendment.  This Agreement may be amended only by means of a written amendment signed by the Partnership and the Holders of a majority of the then outstanding Registrable Securities; provided, however, that no such amendment shall materially and adversely affect the rights of any Holder hereunder without the consent of such Holder.

11

Section 3.13  No Presumption.  If any claim is made by a party relating to any conflict, omission or ambiguity in this Agreement, no presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a particular party or its counsel.  
Section 3.14  Obligations Limited to Parties to Agreement.  Each of the parties hereto covenants, agrees and acknowledges that no Person other than the Purchaser (and its permitted transferees and assignees) and the Partnership shall have any obligation hereunder and that, notwithstanding that the Purchaser is a partnership, no recourse under this Agreement or under any documents or instruments delivered in connection herewith or therewith shall be had against any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of the Purchaser or any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable Law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of the Purchaser or any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, as such, for any obligations of the Purchaser under this Agreement or any documents or instruments delivered in connection herewith or therewith or for any claim based on, in respect of or by reason of such obligation or its creation, except in each case for any transferee or assignee of the Purchaser hereunder.
Section 3.15  Interpretation.  Article and Section references to this Agreement, unless otherwise specified.  All references to instruments, documents, contracts and agreements are references to such instruments, documents, contracts and agreements as the same may be amended, supplemented and otherwise modified from time to time, unless otherwise specified. The word “including” shall mean “including but not limited to.” Whenever any determination, consent or approval is to be made or given by the Purchaser under this Agreement, such action shall be in the Purchaser’s sole discretion unless otherwise specified.
[Signature pages to follow]

12

IN WITNESS WHEREOF, the parties hereto execute this Agreement, effective as of the date first above written.
SUNOCO LP
By:  SUNOCO GP LLC, its general partner

By: /s/ Robert W. Owens     
Name: Robert W. Owens
Title:   President and Chief Executive Officer 

ENERGY TRANSFER EQUITY, L.P.

By: LE GP, LLC, its general partner

By: /s/ John W. McReynolds    
Name: John W. McReynolds
Title:   President

13EX-10.1

Exhibit 10.1

EMPLOYMENT AGREEMENT

This Employment Agreement (this “Agreement”) is made by and between The Best One, Inc. (the
“Company”) and the individual identified on Exhibit A, attached hereto (the “Employee”)
effective as of the Effective Date.

RECITALS

WHEREAS, the Company invests in and acquires promising technology companies and assets;

WHEREAS, the Company is entering into a Securities Purchase Agreement dated September   , 2014
(“Securities Purchase Agreement”) by and among (i) John O. Schaeffer; (ii) WHP Solutions, LLC;
(iii) Interactive Data, LLC (“Interactive Data”), a Georgia limited liability company; and (iv) The
Best One, Inc., whereby the Company will acquire one hundred percent (100%) of the membership
interest of Interactive Data (the Company and Interactive Data collectively referred to hereinafter
as “the Company”);

WHEREAS, from and after the “Closing Date” (as defined in the Securities Purchase Agreement”),
the Company desires to retain the services of the Employee pursuant to the terms and conditions set
forth herein and the Employee desires to become employed by the Company on such terms and
conditions; and

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Company and the Employee agree as follows:

AGREEMENT

1. Term of Agreement. This Agreement will be effective on the Effective Date. The
term shall be for the period set forth on Exhibit A attached hereto (the “Term”).

2. Position and Duties. During the Term, the Employee shall serve the Company in the
position and perform the duties as are set forth on Exhibit A attached hereto.

3. Full Business Time and Attention. Except as otherwise set forth in this Agreement,
the Employee shall (a) devote his full business time, attention, skill and energy exclusively to
the duties and responsibilities of his position; (b) service the Company faithfully, diligently and
to the best of his ability; (c) use his best efforts to promote the success of the Company; and (d)
cooperate fully with the Company’s Board of Directors (the “Board”) and Chief Executive Officer in
the advancement of the Company’s best interests to assure full and efficient performance of his
duties hereunder.

4. Compensation and Benefits. During the Term:

	 	a.	 	Base Salary. The Employee shall be paid the annual
base salary set forth on Exhibit A attached hereto, or such greater
amount as may be determined by the Company from time to time in its sole
discretion, payable in equal periodic installments according to the Company’s
customary payroll practices, but not less frequently than monthly (the “Base
Salary”). The Base Salary may be increased but not decreased without the
Employee’s written consent.

	 	b.	 	Benefits. The Employee shall, during the Term, be
eligible to participate, commensurate with the Employee’s position, in such
retirement, life insurance, hospitalization, major medical, fringe and other
employee benefit plans that the Company generally maintains for its full-time
employees (collectively, the “Benefits”). Notwithstanding the foregoing, the
Company may discontinue or terminate at any time any employee benefit plan,
policy or program now existing or hereafter adopted and will not be required to
compensate the Employee for such discontinuance or termination; provided,
however, that the Company shall be required to offer to the Employee any rights
or benefits extended to other employees in the event of termination of such
plans or benefits, including, but not limited to coverage under the
Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).

	 	c.	 	Bonus. The Employee shall be entitled to cash bonuses,
commensurate with the Employee’s position, as the Board may determine from time
to time.

	 	d.	 	Equity. The Employee shall receive the equity
(hereinafter “Equity”) set forth on Exhibit A attached hereto.

	 	e.	 	Equity Incentive Compensation. The Employee shall be
entitled to participate, commensurate with the Employee’s position, in the
Company’s incentive compensation plan(s) (i.e., stock/RSUs/options/warrants,
etc.) based upon the Company’s achievement of certain revenue milestones. Such
revenue milestones shall be determined in good faith solely by the Board and
the Chief Executive Officer.

	 	f.	 	Stock Option. The Employee shall be entitled to
participate, commensurate with the Employee’s position, in the Company’s Stock
Option Plan, upon the terms and conditions set forth in the stock option
agreement to be executed separately from this Agreement.

	 	g.	 	Expenses. The Company shall pay on behalf of the
Employee (or reimburse Employee for) reasonable documented expenses incurred by
Employee in the performance of his duties under this Agreement and, in
accordance with the Company’s existing policies and procedures pertaining to
the reimbursement of expenses to employees in general. Notwithstanding
anything herein to the contrary or otherwise, except to the extent any expense
or reimbursement provided pursuant to this Section 4(g) does not constitute a
“deferral of compensation” within the meaning of Section 409A of the Code (as
defined below): (i) the amount of expenses eligible for reimbursement provided
to the Employee during any calendar year will not affect the amount of expenses
eligible for reimbursement or in-kind benefits provided to the Employee in any
other calendar year, (ii) the reimbursements for expenses for which the
Employee is entitled to be reimbursed shall be made on or before the last day
of the calendar year following the calendar year in which the applicable
expense is incurred, (iii) the right to payment or reimbursement or in-kind
benefits hereunder may not be liquidated or exchanged for any other benefit and
(iv) the reimbursements shall be made pursuant to objectively determinable and
nondiscretionary Company policies and procedures regarding such reimbursement
of expenses.

5. Termination of Employment.

	 	a.	 	By the Company. The Company may terminate this
Agreement and Employee’s employment, for the following reasons:

	 	i.	 	Death. This Agreement shall
terminate immediately upon the death of the Employee.

	 	ii.	 	Disability. The Company may
terminate this Agreement and the Employee’s employment with the
Company immediately upon a determination of Disability. For
purposes of this Agreement the Employee has a “Disability” if, for
physical or mental reasons, the Employee is unable to perform the
essential duties required of the Employee under this Agreement, even
with a reasonable accommodation, for a period of 6 consecutive
months or a period of 180 days during any 12-month period, as
determined by an independent medical professional mutually
acceptable to the parties. Employee shall submit to a reasonable
number of examinations by the independent medical professional
making the determination of Disability.

	 	iii.	 	For Cause. The Company may
terminate this Agreement and the Employee’s employment with the
Company at any time for Cause. For purposes of this Agreement,
“Cause” is defined as: (1) Employee’s conviction of or plea of
guilty or nolo contendere to a felony which involves moral turpitude
or results in material harm to the Company, (2) Employee’s fraud
against the Company, theft, misappropriation or embezzlement of the
assets or funds of the Company or any customer, or any breach of
fiduciary duty owed to the Company, or engagement in misconduct that
is materially injurious to the Company, including any violation of
any of the restrictions set forth in the Confidentiality,
Nondisclosure, Noncompetition, Nonsolicitation and Nondisparagement
Agreement attached as Exhibit B, (3) Employee’s gross
negligence of his duties or willful misconduct in the performance of
his duties under this Agreement, and (4) Employee’s material breach
of this Agreement.

	 	iv.	 	Without Cause or Refusal to Accept
Assignment. Notwithstanding anything in this Agreement to the
contrary, the Company may immediately terminate this Agreement and
the Employee’s employment at any time during the Term without Cause
for any reason or no reason at all.

	 	v.	 	Adverse Ruling. The Company may
terminate this Agreement and the Employee’s employment with the
Company at any time if compelled by a final, non-appealable ruling
of a court of competent jurisdiction finding the Employee’s
employment by the Company to be a violation of (i) the Employee’s
confidentiality and non-competition agreement with TLO, LLC (“TLO”)
(the “TLO Agreement”), which was purportedly subsequently assumed by
TransUnion Risk and Alternative Data Solutions, Inc. (“TransUnion”)
as part of TransUnion’s acquisition of substantially all of the
assets of TLO, or (ii) the Employee’s noncompetition and
nonsolicitation agreement with TransUnion (the “TransUnion
Agreement”) (each an “Adverse Ruling”).

	 	b.	 	By Employee. The Employee may terminate this Agreement
and his employment with the Company, for the following reasons:

	 	i.	 	For Any Reason. The Employee
may terminate this Agreement and his employment hereunder at any
time for any reason or for no reason at all; provided, however,
that the Employee provides the Company with at least sixty (60)
days prior written notice.

	 	ii.	 	For Good Reason. The
Employee may terminate this Agreement and his employment hereunder
for “Good Reason” (as hereinafter defined). For purposes of this
Agreement, the Employee shall have “Good Reason” to terminate this
Agreement and his employment if (a) there is a material diminution
in the Employee’s (i) duties, responsibilities or title, or (ii)
authority to make decisions or implement strategies within the
scope of his duties and responsibilities; (b) there is a breach of
a material term of this Agreement by the Company and the Company
fails to cure such breach within ten (10) days of receipt of
written notice from the Employee; (c) the Company reduces the
Employee’s Base Salary as in effect from time to time, without the
Employee’s prior written consent; or (d) the Company requests that
the Employee participate in an unlawful act.

	 	c.	 	Compensation Upon Termination.

	 	i.	 	Death. Upon termination of this
Agreement due to the Employee’s death, the Company shall pay to the
Employee’s estate the Employee’s Base Salary accrued through the
date of the Employee’s death. Upon payment to the Employee of the
foregoing amount, the Company shall have no further obligation or
liability to or for the benefit of the Employee under this
Agreement, except as required by applicable law.

	 	ii.	 	Disability. Upon termination of
this Agreement due to the Employee’s Disability, the Company shall
pay to the Employee the Employee’s Base Salary accrued through the
date of the determination of the Employee’s Disability. Upon payment
to the Employee of the foregoing amount, the Company shall have no
further obligation or liability to or for the benefit of the
Employee under this Agreement, except as required by applicable law.

	 	iii.	 	For Cause. Upon termination of
this Agreement for Cause, the Company shall pay to the Employee the
Employee’s Base Salary and Benefits accrued through the date of the
Employee’s termination. Upon payment to the Employee of the
foregoing amount, the Company shall have no further obligation or
liability to or for the benefit of the Employee under this
Agreement, except as required by applicable law.

	 	iv.	 	Without Cause or Refusal to Accept
Assignment. In the event the Company terminates this Agreement
without Cause or any successor of the Company refuses to accept
assignment of this Agreement, the Company shall pay to the Employee
the Employee’s Base Salary for the remainder of the Term in
accordance with the Company’s payroll practices in effect from time
to time, provided, however, the Employee is not in violation of the
Confidentiality, Nondisclosure, Noncompetition, Nonsolicitation and
Nondisparagement Agreement attached as Exhibit B. Upon
payment to the Employee of the foregoing amount, the Company shall
have no further obligation or liability to or for the benefit of the
Employee under this Agreement, except as required by applicable law.

	 	v.	 	For Any Reason. In the event the
Employee terminates this Agreement and his employment with the
Company for any reason during the Term, the Company shall pay to the
Employee the Employee’s Base Salary through the date of the
Employee’s termination. Upon payment to the Employee of the
foregoing amount, the Company shall have no further obligation or
liability to or for the benefit of the Employee under this
Agreement, except as required by applicable law.

	 	vi.	 	For Good Reason. If the Employee
terminates this Agreement and his employment for Good Reason, the
Company shall pay to the Employee the Employee’s Base Salary for the
remainder of the Term in accordance with the Company’s payroll
practices in effect from time to time, provided, however, the
Employee is not in violation of the Confidentiality, Nondisclosure,
Noncompetition, Nonsolicitation and Nondisparagement Agreement
attached as Exhibit B. Upon payment to the Employee of the
foregoing amount, the Company shall have no further obligation or
liability to or for the benefit of the Employee under this
Agreement, except as required by applicable law.

	 	vii.	 	Adverse Ruling. In the event the
Company terminates this Agreement due to an Adverse Ruling, the
Company shall pay to the Employee the Employee’s Base Salary for the
remainder of the Term in accordance with the Company’s payroll
practices in effect from time to time, provided, however, the
Employee is not in violation of the Confidentiality, Nondisclosure,
Noncompetition, Nonsolicitation and Nondisparagement Agreement
attached as Exhibit B. Upon payment to the Employee of the
foregoing amount, the Company shall have no further obligation or
liability to or for the benefit of the Employee under this
Agreement, except as required by applicable law.

6. Indemnification. To the fullest extent permitted by the law, the Company will
indemnify, defend and hold Employee harmless from and against any and all third-party claims,
demands, investigations, actions, suits, proceedings, awards and/or judgments, including reasonable
costs and attorneys’ fees, incurred by Employee in connection with (i) any authorized acts or
decisions made by the Employee in good faith in his capacity as an Employee of the Company, so long
as such acts or decisions were authorized by the Company and Employee reasonably believed at the
time of such acts or decisions that such acts or decisions were in the best interests of the
Company, and (ii) any action brought by TLO and/or TransUnion, its parent(s), subsidiaries or
affiliates, alleging Employee’s employment by the Company to be a violation of the TLO Agreement
and/or TransUnion Agreement or alleging any other cause(s) of action arising under the same or
related nucleus of facts. The Company may obtain coverage for the Employee under an insurance
policy covering the Company’s directors and officers against claims set forth herein if such
coverage for Employee is possible at reasonable cost; provided, however, that it is understood and
agreed that the Company’s obligation to indemnify the Employee as set forth in this Section 6 shall
not be affected by the Company’s ability or inability to obtain such insurance coverage.

7. Covenant Not to Compete. In recognition of the need of the Company to protect its
goodwill and legitimate business interests, Employee agrees that the terms and conditions of the
Company’s Confidentiality, Nondisclosure, Noncompetition, Nonsolicitation and Nondisparagement
Agreement, as attached hereto as Exhibit B, are hereby incorporated into this Agreement.
Notwithstanding the foregoing, Employee’s covenants in Exhibit B are independent covenants
and any claim by Employee against the Company under this Agreement or otherwise shall not excuse
Employee’s obligations under Exhibit B. If Employee’s employment with the Company expires
or is terminated, this Agreement shall continue in full force and effect to the extent necessary or
appropriate to enforce the Employee’s obligations and agreements under Exhibit B attached
hereto.

8. Notice. Any notice required or desired to be given under this Agreement shall be
in writing and shall be addressed as follows:

	 	 	 
	If to Company:
	 	The Best One, Inc.

4400 Biscayne Boulevard, Suite 850

Miami, Florida 33137

	If to Employee:
	 	Daniel MacLachlan

6183 Greenview Terrace

Boca Raton, Florida 33433

Notice shall be deemed given on the date it is deposited in the United States mail, first class
postage prepaid and addressed in accordance with the foregoing, or the date otherwise delivered in
person, whichever is earlier. The address to which any notice must be sent may be changed by
providing written notice in accordance with this Section 8.

9. General Provisions.

	 	a.	 	Amendments. This Agreement contains the entire
agreement between the parties regarding the subject matter hereof. No
agreements or representations, verbal or otherwise, express or implied, with
respect to the subject matter of this Agreement have been made by either party
which are not set forth expressly in this Agreement. This Agreement may only
be altered or amended by mutual written consent of the Company and the
Employee.

	 	b.	 	Applicable Law. This Agreement shall be governed in
accordance with the laws of the State of Florida regardless of the conflict of
laws rules or statutes of any jurisdiction.

	 	c.	 	Successors and Assigns. This Agreement will be binding
upon the Employee’s heirs, executors, administrators or other legal
representatives or assigns. This Agreement will not be assignable by the
Employee, but shall be assigned by the Company in connection with the sale,
lease, license, assignment, merger, consolidation, share exchange, liquidation,
transfer, conveyance or other disposition (whether direct or indirect) of all
or substantially all of its business and/or assets in one or a series of
related transactions (individually and/or collectively, a “Fundamental
Transaction”). The Company shall cause any successor entity in a Fundamental
Transaction in which the Company is not the survivor (the “Successor Entity”)
to assume in writing all of the obligations of the Company under this
Employment Agreement. Upon the occurrence of any such Fundamental Transaction,
the Successor Entity shall succeed to, and be substituted for (so that from and
after the date of such Fundamental Transaction, the provisions of this
Employment Agreement referring to the “Company” shall refer instead to the
Successor Entity), and may exercise every right and power of the Company and
shall assume all of the obligations of the Company under this Employment
Agreement with the same effect as if such Successor Entity had been named as
the Company herein.

	 	d.	 	No Waiver. The failure of any party to this Agreement
to enforce at any time any of the provisions of this Agreement shall in no way
be construed to be a waiver of any such provision, nor in any way to affect the
validity of this Agreement or any part thereof or the right of any party under
this Agreement to enforce each and every such provision. No waiver or any
breach of this Agreement shall be held to be a waiver of any other or
subsequent breach.

	 	e.	 	Section Headings, Construction. The headings used in
this Agreement are provided for convenience only and shall not affect the
construction or interpretation of this Agreement. All words used in this
Agreement shall be construed to be of such gender or number as the
circumstances require. In no event shall the terms or provisions hereof be
construed against any party on the basis that such party or counsel for such
party drafted this Agreement or the attachments hereto.

	 	f.	 	Severability. If any provision of this Agreement is
held to be invalid or unenforceable by any court of competent jurisdiction, the
other provisions of this Agreement shall remain in full force and effect. Any
provision of this Agreement held invalid or unenforceable only in part or
degree shall remain in full force and effect to the extent not held invalid or
unenforceable.

	 	g.	 	Counterparts. This Agreement may be executed in one or
more counterparts each of which shall be deemed to be an original of this
Agreement and all of which, when taken together, shall be deemed to constitute
one and the same agreement.

	 	h.	 	Opportunity to Review. The Employee represents that
the Employee has been provided with an opportunity to review the terms of the
Agreement with legal counsel.

	 	i.	 	Compliance with Code Section 409A. This Agreement is
intended, and shall be construed and interpreted, to comply with Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”) and, if
necessary, any provision shall be held null and void to the extent such
provision (or part thereof) fails to comply with Code Section 409A. For
purposes of Code Section 409A, each payment of compensation under this
Agreement shall be treated as a separate payment of compensation. Any amounts
payable solely on account of an involuntary termination shall be excludible
from the requirements of Code Section 409A, either as separation pay or as
short-term deferrals to the maximum possible extent. Any reference to the
Employee’s “termination” or “termination of employment” shall mean the
Employee’s “separation from service” as defined in Code Section 409A from the
Company and all entities with whom the Company would be treated as a single
employer for purposes of Code Section 409A. Nothing herein shall be construed
as a guarantee of any particular tax treatment to Employee and the Company
shall have no liability to the Employee with respect to any penalties that
might be imposed on the Employee by Code Section 409A for any failure of this
Agreement or otherwise.

	 	j.	 	Attorney’s Fees. In any action or proceeding
(including any appeals) brought to enforce any provision of this Agreement, the
prevailing party will be entitled to reasonable attorney’s fees and costs.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day
and year first written above.

	 	 	 
	The Best One, Inc.

By:      /s/ Michael Brauser

	 	Daniel MacLachlan

/s/ Daniel MacLachlan
	 

	 	

	Name: Michael Brauser

Its: Chairman

	 	

	 

	 	 

EXHIBIT A

	1.	 	Effective Date: The Closing Date (as defined in the Recitals)

	2.	 	Employee Name: Daniel MacLachlan

	3.	 	Position: Chief Financial Officer of the Company

	4.	 	Duties: As determined by the Board and/or Chief Executive Officer

	5.	 	Location of Employment: Boca Raton, Florida

	6.	 	Term: Commencing on the Effective Date and ending September 30, 2016

	7.	 	Base Salary: $185,000.00 per annum

	8.	 	Equity: 250,000 Restricted Stock Units (RSUs); vesting quarterly during the Term;
immediate vesting upon change in control of the Company

1

Amendment to Employment Agreement

This Amendment is made as of the 17th day of March 2015 by and between The Best
One, Inc., a Florida corporation (the “Company”) and Daniel MacLachlan (the “Employee”) to the
Employment Agreement between the parties.

W I T N E S
S E T H

WHEREAS, the Company and Employee are parties to an Employment Agreement dated October 6, 2014
(the “Agreement”); and

WHEREAS, the Company and the Employee now desire to make certain changes to the Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and
other good and valuable consideration, the parties hereby adopt this Amendment to the Agreement
effective as of the date hereof.

(1) Paragraph 8 to Exhibit A to the Agreement shall be removed and replaced with the
following:

“8) Equity: 250,000 Restricted Stock Units (RSUs); vesting quarterly
during the Term; immediate vesting upon a Company Sale. For purposes herein,
“Company Sale” means (i) any merger or consolidation of the Company where a third
party not a stockholder of the Company acquires more than 50% of the voting power of
the Company, (ii) the sale of all or substantially all of the assets of the Company
in a transaction requiring stockholder approval, or (iii)  the sale of the Company’s
capital stock by existing stockholders where a third party acquires (or a number of
third parties acquire) beneficial ownership of more than 50% of the voting power of
the Company.  Notwithstanding the foregoing, a Company Sale does not include a
transaction where the definitive agreement (excluding amendments) was entered into
within three (3) months after the Effective Date. 

(2) Except as amended hereby, the terms and provisions of the Agreement shall remain in full
force and effect and unmodified.

IN WITNESS WHEREOF, the parties have executed this Amendment dated as of the day and year written
above.

COMPANY:

The Best One, Inc.

By:      /s/ Derek Dubner      

Derek Dubner, Chief Executive Officer

EMPLOYEE:

/s/ Daniel MacLachlan

Daniel MacLachlan

2

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