Document:

EX-10.7

 Exhibit 10.7 

ATLAS ENERGY GROUP, LLC 

2015 LONG-TERM INCENTIVE PLAN 

PHANTOM UNIT GRANT AGREEMENT 

(NON-EMPLOYEE DIRECTOR) 

THIS PHANTOM UNIT GRANT AGREEMENT (this “Agreement”) is made as of [DATE] (the “Date of Grant”) by and
between Atlas Energy Group, LLC, a Delaware limited liability company (the “Company”), and [PARTICIPANT] (the “Participant”). 

WHEREAS, the Company’s 2015 Long-Term Incentive Plan (the “Plan”) provides
for the grant of phantom units in accordance with the terms and conditions of the Plan; 
 WHEREAS, the Committee has determined that it
would be in the best interest of the Company to grant the phantom units described herein on the terms and conditions hereinafter set forth; and 

WHEREAS, capitalized terms used herein and not otherwise defined herein shall have the respective meanings ascribed thereto in the Plan. 

NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 

 

	 	1.	Grant of Phantom Units. 

 Subject to the terms and conditions set forth in this Agreement
and the Plan, the Company hereby grants to the Participant [NUMBER] phantom units, subject to the restrictions set forth below and in the Plan (the “Phantom Units”). 

 

	 	2.	Phantom Unit Account. 

 Phantom Units represent hypothetical common units of the Company
(“Units”), and not actual Units. The Company shall establish and maintain a Phantom Unit account, as a bookkeeping account on its records (the “Phantom Unit Account”), for the Participant and shall record in such
account the number of Phantom Units granted to the Participant. No Units shall be issued to the Participant at the time the grant is made, and the Participant shall not be, nor have any of the rights or privileges of, a unitholder of the Company
with respect to any Phantom Units recorded in the account. The Participant shall not have any interest in any fund or specific assets of the Company by reason of this grant or the Phantom Unit Account established for the Participant. 

 

	 	3.	Vesting. 

 Except as otherwise provided in Sections 4(b) and 7, the Participant will
become vested in the Phantom Units awarded pursuant to this Agreement and credited to the Participant’s Phantom Unit Account according to the following vesting schedule, provided the Participant does not cease to be a non-employee member
of the Board prior to the applicable vesting date (the “Vesting Date”): 
  

					
	 Vesting Date
	  	Vested
Phantom
Units	 
	 [VESTING SCHEDULE
	  	 	            	] 

 The vesting of the Phantom Units shall be cumulative, but shall not exceed 100% of the Phantom Units. If the
foregoing schedule would produce fractional Phantom Units, the number of Phantom Units that vest shall be rounded down to the nearest whole Phantom Unit. 
  

	 	4.	Termination of Phantom Units. 

 (a) Except as provided in Sections 4(b), upon the
Participant’s termination as a non-employee member of the Board (“Termination of Service”) prior to the Vesting Date for any portion of the Phantom Units, the Phantom Units credited to the Participant’s Phantom Unit
Account that have not vested as of such Vesting Date shall terminate and the corresponding Units shall be forfeited as of the termination date. 

(b) Notwithstanding Section 4(a), upon the Participant’s Termination of Service by reason of death or Disability, any unvested
Phantom Units shall immediately vest. 
  

	 	5.	Settlement of Phantom Units. 

 (a) On [DATE] of each calendar year, or the next business
day after [DATE], if [DATE] is not a business day (the “Distribution Date”), all of the Phantom Units credited to the Participant’s Phantom Unit Account that vested during such calendar year pursuant to Section 3 shall
become converted to, at the Participant’s election prior to the applicable Distribution Date, Units to be issued under the Plan or the cash equivalent value based on the Fair Market Value of such vested Phantom Units on the Distribution Date.
The Units or cash, as applicable, shall be distributed to the Participant within 10 business days after the Distribution Date. Notwithstanding the immediately preceding sentence, if a Change in Control occurs, all of the Phantom Units credited
to the Participant’s Phantom Unit Account that have not previously been distributed or forfeited shall be converted and distributed to the Participant as described in the immediately preceding sentence on the date of the Change in Control. 

(b) The obligation of the Company to deliver Units shall be subject to the condition that if, at any time, the Committee shall determine in
its discretion that the listing, registration, or qualification of the Units upon any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of,
or in connection with, the issuance of the Units, the Units may not be issued in whole or in part unless such listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to
the Committee. The issuance of Units to the Participant pursuant to this Agreement is subject to any applicable taxes and other laws or regulations of the United States or of any state having jurisdiction thereof. 

  
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 (c) The Participant understands and agrees that the sale of any Units received by the Participant
in settlement of the Phantom Units will be subject to, and must comply with, the Company’s Insider Trading Policy. 
  

	 	6.	DERs. 

 Until such time as the Phantom Units are paid or forfeited, if a cash
distribution is paid by the Company on its Units, a DER will be paid to the Participant equal to the value of the cash payment that would have been paid if such Phantom Units credited to the Participant’s Phantom Unit Account at the time of the
declaration of the cash payment had been Units. The DERs shall be paid to the Participant on the date on which the distribution is paid by the Company on Units. 
  

	 	7.	Change in Control. 

 The provisions of the Plan applicable to a Change in Control shall
apply to the Phantom Units, and, in the event of a Change in Control, the Committee may take such actions as it deems appropriate pursuant to the Plan. 
  

	 	8.	Acknowledgment by Participant. 

 By executing this Agreement, the Participant hereby
acknowledges that with respect to any right granted to the Participant pursuant to this Agreement, the Participant is and shall be an unsecured creditor of the Company without any preference as against other unsecured general creditors of the
Company, and the Participant hereby covenants for himself or herself, and anyone at any time claiming through or under the Participant, not to claim any such preference, and hereby disclaims and waives any such preference that may at any time be at
issue, to the fullest extent permitted by applicable law. 
  

	 	9.	Grant Subject to Plan Provisions. 

 This grant is made pursuant to the Plan, the terms of
which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. This grant is subject to the interpretations, regulations, and determinations concerning the Plan established from time to time by the
Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (a) rights and obligations with respect to withholding taxes, (b) the registration, qualification, or listing of the Units,
(c) changes in capitalization of the Company, and (d) other requirements of applicable law. The Committee shall have the authority to interpret and construe this Agreement pursuant to the terms of the Plan, and its decisions shall be
conclusive as to any questions arising hereunder. By receiving this grant, the Participant hereby agrees to be bound by the terms and conditions of the Plan and this Agreement. The Participant further agrees to be bound by the determinations and
decisions of the Committee with respect to this Agreement and the Plan and the Participant’s rights to benefits under this Agreement and the Plan and agrees that all such determinations and decisions of the Committee shall be binding on the
Participant, his or her beneficiaries, and any other person having or claiming an interest under this Agreement and the Plan on behalf of the Participant. 

  
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	 	10.	Withholding. 

 Any amounts received upon settlement of Phantom Units pursuant to
Section 5, and the payment of cash for any DERs pursuant to Section 6, is treated as taxable income to the Participant, and the Participant (or the Participant’s legal representative in the event of the death of the Participant) shall
be solely responsible for all tax consequences that result in respect of the Phantom Units, as well as any subsequent sale of any Units received by the Participant in respect of the Phantom Units, and the payment of cash with respect to DERs. The
Company, in its sole discretion, may also deduct from any compensation or other amounts owing to the Participant, including by payroll deduction or withholding of Units, the amount of any applicable income tax withholding and employment taxes, to
the extent determined by the Company to be required to be withheld (“Tax Withholding”), with respect to the Phantom Units and the payment of cash with respect to DERs. If the Committee determines that Units may be used to satisfy
Tax Withholding, such Units shall be valued based on their Fair Market Value at the time the Tax Withholding is required to be made; provided, however, that not more than the legally required minimum Tax Withholding amount may be
settled by Unit withholding. If the Participant fails to pay any Tax Withholding in the manner and at the time specified by the Company or its agent, after receiving written notice from the Company or its agent, the Company is authorized in its sole
discretion to cancel such Phantom Units or DERs, as applicable, in which case the Phantom Units or DERs, as applicable, shall be forfeited and shall not be paid to the Participant. 

 

	 	11.	Adjustment of and Changes in Units of the Company. 

 The Phantom Units shall be subject
to adjustment by the Committee in connection with a transaction or event as provided for in Section 4(a) of the Plan. 
  

	 	12.	No Service Rights. 

 This grant shall not confer upon the Participant any right to be
retained as a non-employee member of the Board. 
  

	 	13.	No Unitholder Rights. 

 Neither the Participant, nor any person entitled to receive Units
hereunder in the event of the Participant’s death, shall have any of the rights and privileges of a unitholder until the Units have been issued to Participant in settlement of the Phantom Units. 

 

	 	14.	Assignment and Transfers. 

 Except as the Committee may otherwise permit pursuant to the
Plan, the rights and interests of the Participant under this Agreement may not be sold, assigned, encumbered, or otherwise transferred except, in the event of the death of the Participant, by will or by the laws of descent and distribution. In the
event of any attempt by the Participant to alienate, assign, pledge, hypothecate, or otherwise dispose of the Phantom Units or any right hereunder, except as provided for in this Agreement, or in the event of the levy or any attachment, execution,
or similar process upon the rights or interests hereby conferred, the Committee may terminate the Phantom Units by notice to the Participant, and the Phantom Units and all rights hereunder shall thereupon become null and void. The rights and
protections of the Company hereunder shall extend to any successors or assigns of the Company. This Agreement may be assigned to a third party by the Company without the Participant’s consent. 

  
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	 	15.	Governing Law. 

 The validity, construction, interpretation, and effect of this Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflicts of laws provisions thereof. 
  

	 	16.	Section 409A. 

 This Agreement is intended to comply with Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”), or an exemption therefrom, and payments may only be made under this Agreement upon an event and in a manner that does not cause the imposition of tax penalties under
Section 409A of the Code. To the maximum extent permitted under Section 409A of the Code, the benefits provided under this Agreement are intended to be subject to a “substantial risk of forfeiture” under Section 409A of the
Code, and will be paid within the “short term deferral period” following the lapse of the applicable forfeiture conditions. In no event may the Participant, directly or indirectly, designate the calendar year of a payment. 

 

	 	17.	Amendment. 

 This Agreement may be amended by the Board or the Committee at any time,
subject to the provisions of Section 7(b) of the Plan. Notwithstanding anything herein to the contrary, to the extent that Participant is subject to an agreement that is inconsistent herewith, such agreement shall prevail as long as it does not
violate the Plan. 
  

	 	18.	Notice. 

 Any notice to the Company provided for in this Agreement shall be addressed to
the Company in care of its Chief Legal Officer at its executive offices at 1845 Walnut Street, 10th Floor, Philadelphia, Pennsylvania 19103 or at such other address as to which the Company shall have notified the Participant in writing, and any
notice to the Participant shall be addressed to such Participant at the current address shown in the records of the Company, or to such other address as the Participant may designate to the Company. Any notice shall be delivered by hand or by a
recognized courier service such as FedEx or UPS, sent by telecopy, or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal
Service. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, this Agreement has been duly executed as of the Date of Grant. 

 

			
	ATLAS ENERGY GROUP, LLC
		
	By:	 	  

	 Name:
 Title:
	 	

 I hereby accept the award of Phantom Units described in this Agreement, and I agree to be bound by the
terms of the Plan and this Agreement. I hereby agree that all of the decisions, interpretations, and determinations of the Committee or Board with respect to the Plan or this Agreement shall be final and binding. 

 

			
	  
	 	  

	Date	 	[PARTICIPANT], ParticipantEX-10.8

 Exhibit 10.8 

ATLAS ENERGY GROUP, LLC 

2015 LONG-TERM INCENTIVE PLAN 

OPTION GRANT AGREEMENT 

THIS OPTION GRANT AGREEMENT (this “Agreement”) is made as of [DATE] (the “Date of Grant”) by and between
Atlas Energy Group, LLC, a Delaware limited liability company (the “Company”), and [PARTICIPANT] (the “Participant”). 

WHEREAS, the Company’s 2015 Long-Term Incentive Plan (the “Plan”) provides for the grant of Options in accordance
with the terms and conditions of the Plan; 
 WHEREAS, the Committee has determined that it would be in the best interest of the Company to
grant the Option described herein on the terms and conditions hereinafter set forth; and 
 WHEREAS, capitalized terms used herein and not
otherwise defined herein shall have the respective meanings ascribed thereto in the Plan. 
 NOW, THEREFORE, the parties hereto, intending
to be legally bound hereby, agree as follows: 
  

	 	1.	Grant of Option. 

 Subject to the terms and conditions set forth in this Agreement and
the Plan, the Company hereby grants to the Participant an option to purchase [NUMBER] Units, at an exercise price per Unit of $[AMOUNT], subject to the restrictions set forth below and in the Plan (the “Option,” and the Units
to be issued upon exercise of the Option, the “Option Units”). The Option is not intended to be an Incentive Stock Option. 
  

	 	2.	Vesting. 

 Except as otherwise provided in Sections 3(c) and 5, the Option shall
become exercisable with respect to the following number of Option Units according to the following vesting schedule, provided the Participant continues to be employed by, or provide service to, the Company or one of its Affiliates
(collectively, “Atlas”) on the applicable vesting date (the “Vesting Date”): 
  

					
	 Vesting Date
	  	Option Units
Vesting	 
	 [VESTING SCHEDULE
	  	 	            	] 

 The exercisability of the Option as to the Option Units shall be cumulative, but shall not exceed 100% of the Option Units. If
the foregoing schedule would produce fractional Option Units, the number of Option Units that vest shall be rounded down to the nearest whole Option Unit. 

	 	3.	Termination of Option. 

 (a) The Option and all rights hereunder with respect thereto, to
the extent such rights shall not have been exercised or terminated earlier in accordance with the terms of this Agreement, shall terminate and become null and void ten years following the Date of Grant (the “Option Expiration
Date”). 
 (b) Upon the Participant’s termination of employment with or service to Atlas (“Termination of
Service”) by reason of Disability, (i) the portion of the Option that was not vested and exercisable as of such Termination of Service shall be forfeited without consideration; and (ii) the portion of the Option that was vested
and exercisable as of such Termination of Service may be exercised by the Participant during the six-month period following the date of such Termination of Service, but not later than the Option Expiration Date. 

(c) Upon the Participant’s Termination of Service by reason of death, the portion of the Option that was not vested and exercisable as of
such Termination of Service shall immediately vest in full and become exercisable by the Participant’s legal representative for the one-year period following the date of such Termination of Service, but not later than the Option Expiration
Date. 
 (d) Upon the Participant’s Termination of Service by Atlas for Cause, any unexercised portion of the Option (whether or not
then vested and exercisable) shall immediately terminate and become null and void. 
 (e) Upon the Participant’s Termination of Service
other than as provided for in Sections 3(b), 3(c), and 3(d), (i) the portion of the Option that was not vested and exercisable as of such Termination of Service shall be forfeited without consideration; and (ii) the portion of the
Option that was vested and exercisable as of such Termination of Service may be exercised by the Participant during the 90-day period following such Termination of Service, but not later than the Option Expiration Date. 

(f) A transfer of the Participant’s employment between the Company and any Affiliate, or between any Affiliates, shall not be deemed to
be a Termination of Service. 
  

	 	4.	Exercise of Option. 

 (a) The Participant may exercise the portion of the Option which
has become exercisable in accordance with this Agreement by giving the Company or its delegate notice of intent to exercise, according to procedures established by the Company. The notice of exercise shall specify the number of Option Units as to
which the Option is to be exercised, the exercise date, and other information required by the Company or its delegate. 
 (b) Full payment
(in U.S. dollars) by the Participant of the exercise price for the Option Units purchased, and the applicable tax withholding amount, to the 

  
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extent required, shall be made to the Company on or before the exercise date in cash, or, as and to the extent permitted by the Committee, the exercise price may be paid by any of the other
methods allowed under Section 6(a)(ii) of the Plan. 
 (c) As soon as is practicable after the exercise date, the Company shall cause
to be delivered to the Participant the Option Units then being purchased (out of theretofore unissued Units or reacquired Units, as the Company may elect) upon full payment for such Option Units. The obligation of the Company to deliver Units shall,
however, be subject to the conditions set forth in the Plan (including, without limitation, under Section 6(d) of the Plan). 
 (d) If
the Participant fails to pay for any of the Option Units exercised or fails to accept delivery thereof, the Participant’s right to purchase such Option Units may be terminated by the Company. 

(e) Any exercise of the Option may be subject to the Participant’s payment to the Company of income tax withholding and employment taxes,
to the extent determined by the Company to be required to be withheld, as described below (“Tax Withholding”). Unless the Committee determines otherwise, the Participant or other person entitled to exercise the Option under this
Agreement shall be required to pay to Atlas the amount of any Tax Withholding with respect to the portion of the Option to be exercised. Atlas, in its sole discretion, may also deduct from any compensation or other amounts owing to the Participant,
including by payroll deduction or withholding of Option Units, the amount of any applicable Tax Withholding with respect to the exercise of the Option. If the Committee determines that Option Units may be used to satisfy Tax Withholding, such Option
Units shall be valued based on their Fair Market Value at the time the Tax Withholding is required to be made; provided, however, that not more than the legally required minimum Tax Withholding amount may be settled by Option Unit
withholding. If, upon exercise of all or any portion of the Option, the Participant fails to pay any Tax Withholding in the manner and at the time specified by Atlas or its agent, after receiving written notice from Atlas or its agent, the Company
is authorized in its sole discretion to rescind such exercise. 
  

	 	5.	Change in Control. 

 The provisions of the Plan applicable to a Change in Control shall
apply to the Option, and, in the event of a Change in Control, the Committee may take such actions as it deems appropriate pursuant to the Plan. 
  

	 	6.	Grant Subject to Plan Provisions. 

 This grant is made pursuant to the Plan, the terms of
which are incorporated herein by reference, and in all respects shall be interpreted in accordance with the Plan. This grant is subject to the interpretations, regulations, and determinations concerning the Plan established from time to time by the
Committee in accordance with the provisions of the Plan, including, but not limited to, provisions pertaining to (a) the registration, qualification, or listing of the Units, (b) changes in capitalization of the Company, and 

  
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(c) other requirements of applicable law. The Committee shall have the authority to interpret and construe this Agreement pursuant to the terms of the Plan, and its decisions shall be
conclusive as to any questions arising hereunder. By receiving this grant, the Participant hereby agrees to be bound by the terms and conditions of the Plan and this Agreement. The Participant further agrees to be bound by the determinations and
decisions of the Committee with respect to this Agreement and the Plan and the Participant’s rights to benefits under this Agreement and the Plan, and agrees that all such determinations and decisions of the Committee shall be binding on the
Participant, his or her beneficiaries, and any other person having or claiming an interest under this Agreement and the Plan on behalf of the Participant. 
  

	 	7.	Restrictive Covenants. 

 If the Participant is subject to an existing or future
employment or services agreement with Atlas (an “Employment Agreement”) that addresses the subject matter of this Section 7, then such Employment Agreement shall supersede this Section 7. If the Participant is not subject
to an Employment Agreement, then as a condition of this grant, the Participant agrees as follows: 
 (a) The Participant agrees, at all
times, to hold in strict confidence all Confidential Information (as defined below) and never, during the course of the Participant’s employment with or service to Atlas or thereafter, to make any use of such information except as (and then,
only to the extent) required to perform the Participant’s duties. The restrictions of this Section 7(a) shall not apply to information or data that the Participant can establish is or has become known to the public generally through no
fault of the Participant or has come into the Participant’s possession lawfully and not through the Participant’s employment or service, as the case may be. 

(i) For purposes of this Agreement, “Confidential Information” means all commercially sensitive information and data, in
whatever format, originated by, or on behalf of, or within the knowledge or possession of, Atlas, or any independent contractor performing services on behalf of Atlas. Without limiting the foregoing, Confidential Information includes, but is not
limited to, information that has been designated as proprietary or confidential; information constituting trade secrets; information that, by the nature of the surrounding circumstances, should be treated as proprietary or confidential; and
information or data conceived, discovered, or developed in whole or in part by the Participant while employed by or providing services to Atlas. 

(ii) The Participant acknowledges that the Participant’s relationship with Atlas is one of confidence and trust such that the
Participant has in the past been, and may in the future be, privy to Confidential Information of Atlas. 

  
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 (b) The Participant agrees that during the Participant’s employment with or provision of
services to Atlas and for a period of 12 months following the Participant’s Termination of Service, regardless of the reason for such termination: 

(i) The Participant will not, directly or indirectly, solicit, or attempt to solicit, for employment, with the Participant or with any other
person or entity, any employee, consultant, and/or other independent contractor of Atlas, nor will the Participant, directly or indirectly, solicit or induce, or attempt to solicit or induce, any such individual to leave his or her employment with
Atlas or to terminate his or her agreement to provide services to Atlas. 
 (ii) The Participant will not, directly or indirectly, solicit,
or attempt to solicit, any lease or other interest in oil and gas or real property benefitting oil and gas operations for the Participant, or for any other person or entity, from any lessor and/or transferor of oil and gas rights (or holder of any
right of way) or prospective lessor and/or transferor of such rights of Atlas with which/whom the Participant had contact within the 12 months prior to the Participant’s Termination of Service with Atlas or concerning which the Participant
had access to Confidential Information, during and by virtue of the Participant’s employment with or service to Atlas. 
 (c) The
Participant acknowledges and agrees that the restrictions contained in this Section 7 are reasonable and necessary to protect the legitimate business interests of Atlas and that the Company would not have entered into this Agreement in the
absence of such restrictions. 
 (d) The Participant acknowledges and agrees that any breach by the Participant of any of the covenants or
agreements contained in this Section 7 will result in irreparable injury to Atlas, for which Atlas may be entitled to any remedy at law or equity, including specific performance of the Participant’s obligations under this Section 7,
as well as injunctive relief without the posting of any bond, such as may be granted by a court of competent jurisdiction. 
 (e) In
addition to the foregoing remedies, the Participant agrees that if the Participant breaches any of the covenants or agreements contained in this Section 7: 

(i) The Committee may cause any unexercised portion of the Option to be cancelled and forfeited without payment by the Company; and 

(ii) The Committee may require that the Participant pay to the Company the amount of any gain realized or payment received as a result of the
Option, in such manner and on such terms and conditions (including amount of gain realized or payment received) as may be determined by the Committee, and the Company shall be entitled to set off against the amount of any such gain or payment any
amounts owed to the Participant by Atlas. Atlas must exercise the right of recoupment provided in this Section 7(e)(ii) within two years after the Committee’s first having knowledge of Participant’s breach of any of the covenants or
agreements contained in this Section 7. 
 (f) If any provision of this Section 7 or the application hereof is determined by any
court of competent jurisdiction to be invalid or unenforceable, the other portions of this Section 7 or the application thereof shall not be affected and shall be given full force and effect without regard to the invalid or unenforceable
portions to 

  
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the fullest extent possible. If any court of competent jurisdiction determines that any provision of this Section 7 is unenforceable, then the Participant agrees to the reformation of any
such covenant or agreement by the court to limits that such court finds to be enforceable. 
 (g) The provisions of this Section 7
shall survive the termination of this Agreement and termination of the Participant’s Termination of Service. 
  

	 	8.	Adjustment of and Changes in Units of the Company. 

 The Option shall be subject to
adjustment by the Committee in connection with a transaction or event as provided for in Section 4(a) of the Plan. 
  

	 	9.	No Employment or Other Rights. 

 The grant of the Option hereunder shall not confer upon
the Participant any right to be retained by or in the employ or service of Atlas and shall not interfere in any way with the right of Atlas to terminate the Participant’s employment or service at any time. The right of Atlas to terminate at
will the Participant’s employment or service pursuant to or in the absence of a contract at any time for any reason is specifically reserved. 
  

	 	10.	No Rights as Unitholder. 

 Neither the Participant, nor any person entitled to exercise
the Option hereunder in the event of the Participant’s death, shall have any of the rights and privileges of a unitholder until the Option Units have been issued upon exercise of the Option. 

 

	 	11.	Assignment and Transfers. 

 During the Participant’s lifetime, the Option shall be
exercisable only by the Participant or any guardian or legal representative of the Participant, and the Option shall not be transferable except, in the case of death of the Participant, by will or the laws of descent and distribution, nor shall the
Option be subject to attachment, execution or other similar process. In the event of any attempt by the Participant to alienate, assign, pledge, hypothecate, or otherwise dispose of the Option, except as provided for in this Agreement, or in the
event of the levy or any attachment, execution, or similar process upon the rights or interests hereby conferred, the Company may terminate the Option by notice to the Participant and it shall thereupon become null and void. The rights and
protections of Atlas hereunder shall extend to any successors or assigns of Atlas. This Agreement may be assigned to a third party by the Company without the Participant’s consent. 

 

	 	12.	Applicable Policies. 

 The grant made pursuant to this Agreement shall be subject to any
applicable clawback and other policies established by the Board or the Committee from time to time, or as otherwise provided by law. 

  
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	 	13.	Governing Law. 

 The validity, construction, interpretation, and effect of this Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflicts of laws provisions thereof, except that Section 7 shall be governed by and construed in accordance with the laws of
the Commonwealth of Pennsylvania, without giving effect to the conflicts of laws provisions thereof. 
  

	 	14.	Amendment. 

 This Agreement may be amended by the Board or the Committee at any time,
subject to the provisions of Section 7(b) of the Plan. Notwithstanding anything herein to the contrary, to the extent that Participant is subject to an agreement that is inconsistent herewith, such agreement shall prevail as long as it does not
violate the Plan. 
  

	 	15.	Notice. 

 Any notice to the Company provided for in this Agreement shall be addressed to
the Company in care of its Chief Legal Officer at its executive offices at 1845 Walnut Street, 10th Floor, Philadelphia, Pennsylvania 19103 or at such other address as to which the Company shall have notified Participant in writing, and any
notice to the Participant shall be addressed to such Participant at the current address shown on the payroll of Atlas, or to such other address as the Participant may designate to Atlas. Any notice shall be delivered by hand or by a recognized
courier service such as FedEx or UPS, sent by telecopy, or enclosed in a properly sealed envelope addressed as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service. 

 

	 	16.	Cancellation and Rescission of Option. 

 (a) Notwithstanding anything in this Agreement
to the contrary, the Committee may cancel, rescind, suspend, withhold, or otherwise limit or restrict the exercise of the Option at any time if the Participant (i) is convicted of a felony or a crime of moral turpitude with respect to the
Company or its Affiliates; (ii) engages in fraud or embezzlement with respect to the Company or its Affiliates; or (iii) materially breaches the Participant’s obligations under any written noncompetition, nonsolicitation, or
confidentiality agreement entered into between the Participant and Atlas, including any of the covenants and agreements in Section 7 of this Agreement (each, a “Rescission Event”). 

(b) Upon exercise of an Option, the Committee may require that the Participant certify in a manner acceptable to the Committee that he or she
has not engaged in any conduct that constitutes a Rescission Event. In the event that a Participant engages in conduct that constitutes a Rescission Event before, or during the one-year period after, any exercise of the Option, such exercise may be
rescinded by the Company within two years after the Participant engages in such conduct. In the event of any such rescission, the Participant shall pay to the Company the amount of any gain realized or payment received as a result of the rescinded
Option, in such manner and on 

  
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such terms and conditions as may be determined by the Committee (including amount of gain realized or payment received), and the Company shall be entitled to set off against the amount of any
such gain or payment any amounts owed to the Participant by Atlas. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, this Agreement has been duly executed as of the Date of Grant. 

 

			
	ATLAS ENERGY GROUP, LLC
		
	By:	 	  

	Name:	 	
	 Title:
	 	

 I hereby accept the award of the Option described in this Agreement, and I agree to be bound by the
terms of the Plan and this Agreement. I hereby agree that all of the decisions, interpretations, and determinations of the Committee or Board with respect to the Plan and this Agreement shall be final and binding. 

 

			
	  
	 	  

	Date	 	[PARTICIPANT], Participant

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