Document:

Mid-Con Energy Partners, LP Long-Term Incentive Program

 Exhibit 10.4 
 MID-CON ENERGY PARTNERS, LP 
 LONG-TERM INCENTIVE PROGRAM 

SECTION 1. Purpose of the Program. 
 The
Mid-Con Energy Partners, LP Long-Term Incentive Program (the “Program”) has been adopted by Mid-Con Energy GP, LLC, a Delaware limited liability company (the “Company”), general partner of Mid-Con Energy Partners,
LP, a Delaware limited partnership (the “Partnership”). The Program is intended to promote the interests of the Partnership and the Company and their Affiliates (as defined below) by providing to Employees, Consultants and/or
Directors, incentive compensation awards based on Units (as defined below) to encourage superior performance. The Program is also contemplated to enhance the ability of the Company and its Affiliates to attract and retain the services of individuals
who are essential for the growth and profitability of the Partnership and its subsidiaries and to encourage them to devote their best efforts to advancing the business of the Partnership and its subsidiaries. 

SECTION 2. Definitions. 
 As used
in the Program, the following terms shall have the meanings set forth below: 
 “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. 

“Award” means an Option, Unit Appreciation Right, Restricted Unit, Phantom Unit, an Other Unit-Based Award, or a Unit Award
granted under the Program, and includes any tandem DERs granted with respect to a Phantom Unit. 
 “Award Agreement”
means the written or electronic agreement by which an Award shall be evidenced. 
 “Board” means the Board of
Directors of the Company. 
 “Cause” means, except as otherwise provided in the terms of the Award Agreement,
(i) conviction of a Participant by a court of competent jurisdiction of any felony or a crime involving moral turpitude; (ii) a Participant’s willful and intentional failure or willful and intentional refusal to follow reasonable and
lawful instructions of the Board; (iii) a Participant’s material breach or default in the performance of his obligations under an Award Agreement or any employment agreement between the Participant and the Company or any Affiliate; or
(iv) a Participant’s act of misappropriation, embezzlement, intentional fraud or similar conduct involving the Company or any of its Affiliates. 

 “Change of Control” means, and shall be deemed to have occurred upon one or more
of the following events: 
 (i) any “person” or “group” within the meaning of those terms as used in
Sections 13(d) and 14(d)(2) of the Exchange Act, other than the Company or an Affiliate of the Company, shall become the beneficial owner, by way of merger, consolidation, recapitalization, reorganization or otherwise, of 50% or more of the combined
voting power of the equity interests in the Company or the Partnership; 
 (ii) the limited partners of the Partnership approve,
in one or a series of transactions, a program of complete liquidation of the Partnership; 
 (iii) the sale or other disposition
by either the Company or the Partnership of all or substantially all of its assets in one or more transactions to any Person other than the Company or an Affiliate of the Company; 

(iv) a transaction resulting in a Person other than the Company or an Affiliate of the Company being the general partner of the
Partnership; or 
 (v) except with respect to Other Unit-Based Awards evidenced by “Performance Unit-Based Award
Agreements” which provide for the deferral of compensation and are subject to Section 409A of the Code (“Section 409A Performance Unit-Based Awards”), any time at which individuals who, as of the Effective Date, constitute
the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a Company Director subsequent to the Effective Date whose election, or nomination
for election by the Partnership’s unitholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board will be considered as though such individual were a member of the Incumbent Board, but excluding,
for this purpose, any such individual whose initial assumption of office occurs as the result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Incumbent Board. 
 Notwithstanding the foregoing, if a Change of Control
constitutes a payment event with respect to any Award which provides for the deferral of compensation and is subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), then, to the
extent required to comply with Section 409A of the Code, the transaction or event described in clause (i), (ii), (iii), (iv) or (v) above with respect to such Award must also constitute a “change of control event” as defined
in the Treasury Regulation § 1.409A-3(i)(5). 
 For the avoidance of doubt, clause (v) of this definition shall
not constitute a “Change of Control” for purposes of any Section 409A Performance Unit-Based Award. 

“Committee” means the Board or the Compensation Committee of the Board or such other committee as may be appointed by the Board
to administer the Program. 
 “Consultant” means an individual, other than an Employee or a Director, who renders
consulting services to the Company, the Partnership or an Affiliate of either. 
 “DER” or “Distribution
Equivalent Right” means a contingent right, which may be granted, if it all, only in tandem with a specific Phantom Unit Award, to receive with respect to each Phantom Unit subject to the Award an amount in cash, Units and/or Phantom Units
equivalent in value to the distributions made by the Partnership with respect to a Unit during the period such Award is outstanding. 

  
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 “Director” means a member of the board of directors of the Company, the
Partnership or an Affiliate of the Company, who is not an Employee or a Consultant (other than in that individual’s capacity as a Director). 
 “Employee” means an employee of the Company or an Affiliate of the Company, who performs services for the Company, the Partnership or an Affiliate of either. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fair Market Value” of a Unit means the closing sales price of a Unit on the principal national securities exchange or other
market in which trading in Units occurs on the applicable date (or, if there is no trading in the Units on such date, on the next preceding date on which there was trading) as reported in The Wall Street Journal (or other reporting service
approved by the Committee). If Units are not traded on a national securities exchange or other market at the time a determination of fair market value is required to be made hereunder, the determination of fair market value shall be made in good
faith by the Committee. 
 “Option” means an option to purchase Units granted under the Program. 

“Other Unit-Based Award” means an Award granted pursuant to Section 6(d) of the Program. 

“Participant” means an Employee, Consultant or Director granted an Award under the Program. 

“Partnership Agreement” means the Agreement of Limited Partnership of the Partnership, as it may be amended or amended and
restated from time to time. 
 “Person” means an individual or a corporation, limited liability company, partnership,
joint venture, trust, unincorporated organization, association, governmental agency or political subdivision thereof or other entity. 
 “Phantom Unit” means a notional unit granted under the Program that upon vesting entitles the Participant to receive a Unit or an amount of cash equal to the Fair Market Value of a Unit, as
determined by the Committee in its sole discretion. 
 “Restricted Period” means the period established by the
Committee with respect to an Award during which the Award remains subject to forfeiture and is either not exercisable by or payable to the Participant, as the case may be. 
 “Restricted Unit” means a Unit granted under the Program that is subject to a Restricted Period. 
 “Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange Act or any successor rule or regulation thereto as in effect from time to time. 

  
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 “SEC” means the Securities and Exchange Commission, or any successor thereto.

 “UDR” means a distribution made by the Partnership with respect to a Restricted Unit. 

“Unit” means a common unit representing a limited partnership interest of the Partnership. 

“Unit Appreciation Right” or UAR” means a contingent right that entitles the holder to receive, in cash or Units, as
determined in the sole discretion of the Committee, the excess of the Fair Market Value of a Unit on the exercise date of the UAR over the exercise price of the UAR. 
 “Unit Award” means a grant of a Unit that is not subject to a Restricted Period. 

SECTION 3. Administration. 
 The
Program shall be administered by the Committee. A majority of the Committee shall constitute a quorum, and the acts of the members of the Committee who are present at any meeting thereof at which a quorum is present, or acts unanimously approved by
the members of the Committee in writing (including an email, fax, or other electronic communication that is authenticated according to the Uniform Electronic Transactions Act or that is deemed signed by the Committee’s Chair), shall be the acts
of the Committee. Subject to the terms of the Program and applicable law, and in addition to other express powers and authorizations conferred on the Committee by the Program, the Committee shall have full power and authority to: (i) designate
Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Units to be covered by Awards; (iv) determine the terms and conditions of any Award (including, but not limited to
performance requirements for such Award); (v) determine whether, to what extent, and under what circumstances Awards may be exercised, canceled, forfeited or settled (and, if settled, whether and the extent to which settlement is in Units,
cash, other property or any combination thereof), and the method or methods by which Awards may be exercised, canceled, forfeited or settled; (vi) interpret and administer the Program and any instrument or agreement relating to an Award made
under the Program; (vii) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Program; (viii) take any action or exercise any power or
right reserved, explicitly or implicitly, to the Committee under the Program or any Award Agreement; and (ix) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the
Program; provided that with respect to an Award that provides for the deferral of compensation and is subject to Section 409A of the Code, the Committee does not have authority to take an action that subjects a Participant to accelerated or
additional taxes pursuant to Section 409A of the Code. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Program or an Award Agreement in such manner and to such extent as the Committee deems
necessary or appropriate. The Committee may, in its sole discretion, provide for the extension of the exercisability of an Award, accelerate the vesting or exercisability of an Award, eliminate or make less restrictive any restrictions applicable to
an Award, waive any restriction or other provision of this Program or an Award or otherwise amend or modify an Award in any manner that (i) is either (A) not adverse to the Participant to whom such Award was granted or (B) consented
to by such Participant, and (ii) with respect to an Award that provides for the deferral 

  
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of compensation and is subject to Section 409A of the Code, does not cause the Participant’s taxes to be accelerated or increased pursuant to Section 409A of the Code. Unless
otherwise expressly provided in the Program, all designations, determinations, interpretations, and other decisions under or with respect to the Program or any Award shall be within the sole discretion of the Committee, may be made at any time and
shall be final, conclusive, and binding upon all Persons, including the Company, the Partnership, any Affiliate of the Company, any Participant, and any other holder or beneficiary of any Award. 

SECTION 4. Units. 
 (a) Limits
on Units Deliverable. Subject to adjustment as provided in Section 4(c), the maximum number of Units that may be delivered with respect to Awards under the Program is          Units. Units withheld
from an Award to either satisfy the Company’s or an Affiliate’s tax withholding obligations with respect to the Award, or pay the exercise price of an Award, shall not be considered to be Units delivered under the Program for this purpose.
If any Award is forfeited, cancelled, exercised, paid, or otherwise terminates or expires without the actual delivery of Units pursuant to such Award (the grant of Restricted Units is not a delivery of Units for this purpose), the Units subject to
such Award shall again be available for Awards under the Program. The limit for Awards that may be settled in cash shall be $        . The Board and the appropriate officers of the Company are authorized to
take from time to time whatever actions are necessary, and to file any required documents with governmental authorities, stock exchanges and transaction reporting systems to ensure that Units are available for issuance pursuant to Awards. If no
Units remain available under the Program for issuance in settlement of an Award, such Award will be settled in cash. 
 (b) Sources of Units
Deliverable Under Awards. Any Units delivered pursuant to an Award may consist, in whole or in part, of Units acquired in the open market, from the Partnership, any Affiliate of the Partnership, or any other Person, or newly issued Units, or any
combination of the foregoing, as determined by the Committee in its sole discretion. 
 (c) Adjustments. In the event that any
distribution (whether in the form of cash, Units, other securities, or other property), recapitalization, split, reverse split, reorganization or liquidation, merger, consolidation, split-up, spin-off, separation, combination, repurchase,
acquisition of property or securities, or exchange of Units or other securities of the Partnership, issuance of warrants or other rights to purchase Units or other securities of the Partnership, or other similar transaction or event affects the
Units, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Units (or other securities or property) with respect to which Awards may be granted, (ii) the number and type of
Units (or other securities or property) subject to outstanding Awards, (iii) the grant or exercise price with respect to any Award, (iv) the performance criteria (if any) for an Award that vests upon satisfaction of performance criteria
other than continued service as an Employee, Consultant or Director (v) the appropriate Fair Market Value and other price determinations for such Awards and (vi) any other limitations contained within this Program or, subject to
Section 8(m), make provision for a cash payment to the holder of an outstanding Award; provided, that the number of Units subject to any Award shall always be a whole number. 

  
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 SECTION 5. Eligibility. 
 Any Employee, Consultant or Director shall be eligible to be designated a Participant by the Committee and receive an Award under the Program. 
 SECTION 6. Awards. 
 (a) Options and UARs. The Committee shall have the
authority to determine the Employees, Consultants and Directors to whom Options and/or UARs shall be granted, the number of Units to be covered by each Option or UAR, the exercise price thereof, the Restricted Period and other conditions and
limitations applicable to the exercise of the Option or UAR, including the following terms and conditions and such additional terms and conditions, as the Committee shall determine, that are not inconsistent with the provisions of the Program.

 (i) Exercise Price. The exercise price per Unit purchasable under an Option or subject to a UAR shall be determined by
the Committee at the time the Option or UAR is granted but may not be less than the Fair Market Value of a Unit as of the date of grant of the Option or UAR. 
 (ii) Time and Method of Exercise. The Committee shall determine the exercise terms and the Restricted Period with respect to an Option or UAR grant, which may include, without limitation, a
provision for accelerated vesting upon the achievement of specified performance goals or other events, and the method or methods by which payment of the exercise price with respect to an Option may be made or deemed to have been made, which may
include, without limitation, cash, check acceptable to the Company, withholding Units from the Award, a “cashless-broker” exercise through procedures approved by the Company, or any combination of the above methods, having a Fair Market
Value on the exercise date equal to the relevant exercise price. 
 (iii) Forfeitures. Except as otherwise provided in
the terms of the Award Agreement, upon termination of all of a Participant’s service relationships, as applicable, with the Company and all of its Affiliates as an Employee, Consultant or Director for any reason during the applicable Restricted
Period, all outstanding, unvested Options and UARs as of the date of such termination shall be forfeited by the Participant. The Committee may, in its sole discretion, waive in whole or in part such forfeiture with respect to a Participant’s
Options or UARs; provided that with respect to an Award that provides for the deferral of compensation and is subject to Section 409A of the Code, the Committee does not have authority to take an action that subjects a Participant to
accelerated or additional taxes pursuant to Section 409A of the Code. 
 (b) Restricted Units and Phantom Units. The Committee shall
have the authority to determine the Employees, Consultants and Directors to whom Restricted Units and/or Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to each such Participant, the Restricted Period,
the conditions under which the Restricted Units or Phantom Units may become vested or forfeited and such other terms and conditions as the Committee may establish with respect to such Awards. 

  
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 (i) DERs. To the extent provided by the Committee, in its sole discretion, a grant of
Phantom Units may or may not include a tandem DER grant, which may provide that such DERs shall be paid directly to the Participant, be credited to a bookkeeping account (with or without interest in the sole discretion of the Committee), be
“reinvested” in Restricted Units or additional Phantom Units and be subject to the same or different vesting restrictions as the tandem Phantom Unit Award, or be subject to such other provisions or restrictions as determined by the
Committee in its sole discretion. Absent a contrary provision in the Award Agreement, except with respect to a Phantom Unit Award that vests upon satisfaction of performance criteria other than continued service as an Employee, Consultant or
Director, upon a distribution with respect to a Unit, DERs equal in value to such distribution shall be paid promptly to the Participant in cash without vesting restrictions. With respect to a Phantom Unit Award that vests upon satisfaction of
performance criteria other than continued service as an Employee, Consultant or Director, DERs equal in value to such distribution that would otherwise be payable on or after the date of grant but prior to vesting of the associated Phantom Unit
Award shall be credited to a bookkeeping account established by the Company, which bookkeeping account shall not bear interest and shall be subject to forfeiture until such time as the associated Phantom Unit Award vests, and the amounts credited to
such bookkeeping account shall be paid to the holder of the Phantom Unit Award within 30 days following the vesting of the associated Phantom Unit Award. Notwithstanding the foregoing, DERs shall be paid in a manner that is exempt from or in
compliance with Section 409A of the Code. 
 (ii) UDRs. To the extent provided by the Committee, in its sole
discretion, a grant of Restricted Units may provide that UDRs shall be subject to the same forfeiture and other restrictions as the Restricted Unit and, if restricted, UDRs shall be held, without interest, until the Restricted Unit vests or is
forfeited, with UDRs being paid or forfeited at the same time, as the case may be. In addition, the Committee may provide that UDRs be used to acquire additional Restricted Units for the Participant. Such additional Restricted Units may be subject
to such vesting and other terms as the Committee may proscribe. Absent a contrary provision in the Award Agreement, UDRs shall be paid promptly to the holder of the Restricted Unit without vesting restrictions. Notwithstanding the foregoing, UDRs
shall be paid in a manner that is exempt from or in compliance with Section 409A of the Code. 
 (iii) Forfeitures.
Except as otherwise provided in the terms of the Award Agreement, upon termination of all of a Participant’s service relationships, as applicable, with the Company and all of its Affiliates as an Employee, Consultant or Director for any reason
during the applicable Restricted Period, all outstanding, unvested Restricted Units and Phantom Units awarded the Participant shall be automatically forfeited on such termination. The Committee may, in its sole discretion, waive in whole or in part
such forfeiture with respect to a Participant’s Restricted Units and/or Phantom Units; provided that with respect to an Award that provides for the deferral of compensation and is subject to Section 409A of the Code, the Committee does not
have authority to take an action that subjects a Participant to accelerated or additional taxes pursuant to Section 409A of the Code. 
 (iv) Lapse of Restrictions. 
 (A) Phantom Units. Upon or as soon as
reasonably practical following the vesting of each Phantom Unit and any terms of the Phantom Unit Award relating to payment, 

  
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and further subject to the provisions of Section 8(b), the Participant shall be entitled to receive from the Company one Unit or cash equal to the Fair Market Value of one Unit on the date
of vesting. Whether a Phantom Unit Award is settled in Units or cash shall be determined in the sole discretion of the Committee. 
 (B) Restricted Units. Upon or as soon as reasonably practical following the vesting of each Restricted Unit, subject to satisfying the tax withholding obligations of Section 8(b), the
Participant shall be entitled to have the restrictions removed from his or her Unit certificate so that the Participant then holds an unrestricted Unit. For payments related to Restricted Units that are deferred compensation regulated by
Section 409A of the Code, unless the Committee provides otherwise in an Award Agreement, that payment date is not later than March 15 of the calendar year following the calendar year in which the vesting of each Phantom Unit occurs.

 (c) Unit Awards. Unit Awards may be granted under the Program to such Employees, Consultants and/or Directors and in such amounts as
the Committee, in its sole discretion, may select. 
 (d) Other Unit-Based Awards. Other Unit-Based Awards may be granted under the
Program to such Employees, Consultants and/or Directors as the Committee, in its sole discretion, may select. An Other Unit-Based Award shall be an award denominated or payable in, valued in or otherwise based on or related to Units, in whole or in
part. The Committee shall determine the terms and conditions of any such Other Unit-Based Award. Upon vesting, an Other Unit-Based Award may be settled in cash, Units (including Restricted Units), other property or any combination thereof, as
determined in the sole discretion of the Committee. 
 (e) General. 

(i) Awards May Be Granted Separately or Together. Awards may, in the sole discretion of the Committee, be granted either alone or
in addition to, in tandem with, or in substitution for any other Award granted under the Program or any award granted under any other program of the Company or any Affiliate of the Company. Awards granted in addition to or in tandem with other
Awards or awards granted under any other program of the Company or any Affiliate of the Company may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

(ii) Limits on Transfer of Awards. 
 (A) Except as provided in Paragraph (C) below, each Option and Unit Appreciation Right shall be exercisable only by the Participant during the Participant’s lifetime, or by the person to whom
the Participant’s rights shall pass by will or the laws of descent and distribution. 
 (B) Except as provided in Paragraph
(C) below, no Award and no right under any such Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge, attachment, sale, transfer
or encumbrance shall be void and unenforceable against the Company, the Partnership or any Affiliate of the Company. 

  
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 (C) To the extent specifically provided by the Committee with respect to an Award, an Award
may be transferred by a Participant without consideration to immediate family members or related family trusts, limited partnerships or similar entities or on such terms and conditions as the Committee may from time to time establish. In the terms
of an Award Agreement, the Committee may allow the designation of a death beneficiary for cash payments. 
 (iii) Term of
Awards. The term of each Award shall be for such period as may be determined by the Committee. 
 (iv) Unit
Certificates. All certificates for Units or other securities of the Partnership delivered under the Program pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may
deem advisable under the Program or the rules, regulations, and other requirements of the SEC, any stock exchange upon which such Units or other securities are then listed, and any applicable federal or state laws, and the Committee may cause a
legend or legends to be inscribed on any such certificates to make appropriate reference to such restrictions. 
 (v)
Consideration for Grants. Awards may be granted for such consideration, including services, as the Committee shall determine. 
 (vi) Delivery of Units or other Securities and Payment by Participant of Consideration. Notwithstanding anything in the Program or any Award Agreement to the contrary, delivery of Units pursuant to
the exercise or vesting of an Award may be deferred for any period during which, in the good faith determination of the Committee, the Company is not reasonably able to obtain Units to deliver pursuant to such Award without violating applicable law
or the applicable rules or regulations of any governmental agency or authority or securities exchange. No Units or other securities shall be delivered pursuant to any Award until payment in full of any amount required to be paid pursuant to the
Program or the applicable Award Agreement (including, without limitation, any exercise price or tax withholding) is received by the Company. 
 (vii) Actions Upon the Occurrence of Certain Events. Upon the occurrence of a Change of Control, any change in applicable law or regulation affecting the Plan or Awards thereunder, or any change in
accounting principles affecting the financial statements of the Partnership, or unless the Committee shall determine otherwise in the Award Agreement, the Committee, in its sole discretion, without the consent of any Participant or holder of the
Award, and on such terms and conditions as it deems appropriate, may take any one or more of the following actions to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or an
outstanding Award: 
 (A) provide for either (i) the termination of any Award in exchange for an amount of cash, if any,
equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights (and, for the avoidance of doubt, if as of the date of the occurrence of such transaction or event the Committee
determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be terminated without payment), or (ii) the replacement of such Award with
other rights or property selected by the Committee in its sole discretion; 

  
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 (B) provide that such Award be assumed by the successor or survivor entity, or a parent or
subsidiary thereof, or be exchanged for similar options, rights or awards covering the equity of the successor or survivor, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of equity interests, values and
prices, including, but not limited to, exercise prices; 
 (C) make adjustments in the number and type of Units (or other
securities or property) subject to outstanding Awards, and in the number and kind of outstanding Awards or in the terms and conditions of (including the exercise price), and the vesting and performance criteria included in, outstanding Awards, or
both; 
 (D) provide that such Award shall be exercisable or payable, notwithstanding anything to the contrary in the Plan or
the applicable Award Agreement; and 
 (E) provide that the Award cannot be exercised or become payable after such event
(i.e., shall terminate upon such event). 
 Notwithstanding the foregoing in this subsection (vii), any such action
contemplated under this subsection (vii) shall be effective only to the extent that such action will not cause any Award that is designed to satisfy Section 409A of the Code to fail to satisfy such section. 

SECTION 7. Amendment, Modification and Termination. 
 The Board may amend, modify, suspend or terminate this Program (and the Committee may amend an Award Agreement) for the purpose of meeting or addressing any changes in legal requirements or for any other
purpose permitted by law, except that (i) no amendment or alteration that would adversely affect the rights of any Participant under any Award previously granted to such Participant shall apply to such Participant without the consent of such
Participant and (ii) no amendment or alteration shall be effective prior to its approval by the unitholders of the Partnership to the extent unitholder approval is otherwise required by applicable legal requirements or the requirements of the
securities exchange on which the Partnership’s units are listed, including any amendment that (A) expands the types of Awards available under this Program, (B) materially increases the number of Units available for Awards under this
Program, (C) materially expands the classes of persons eligible for Awards under this Program, (D) materially extends the term of this Program, (E) materially changes the method of determining the exercise price of Options or UARs,
(F) deletes or limits any provisions of this Program that prohibit the repricing of Options or UARs, or (G) decreases any minimum vesting requirements for any Award. 
 SECTION 8. General Provisions. 
 (a) No Rights to Award. No Person shall have
any claim to be granted any Award under the Program, and there is no obligation for uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each recipient. 

  
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 (b) Tax Withholding. Unless other arrangements have been made that are acceptable to the Company, the
Company or any Affiliate of the Company is authorized to withhold from any Award, from any payment due or transfer made under any Award or from any compensation or other amount owing to a Participant at the time of the creation of compensation as
defined in the applicable tax or withholding laws, rules or regulations or at any later time, the amount (in cash, Units, Units that would otherwise be issued pursuant to such Award or other property) of any applicable taxes payable in respect of
the grant of an Award, its exercise, the lapse of restrictions thereon, or any payment or transfer under an Award or under the Program and to take such other action as may be necessary in the opinion of the Company to satisfy its withholding
obligations for the payment of such taxes. 
 (c) No Right to Employment or Services. The grant of an Award shall not be construed as
giving a Participant the right to be retained in the employ of the Company or any Affiliate of the Company or in the service of the Company or any Affiliate of the Company as a Consultant or Director. Furthermore, the Company or an Affiliate of the
Company may at any time dismiss a Participant from employment or service free from any liability or any claim under the Program, unless otherwise expressly provided in the Program, any Award Agreement or other agreement. 

(d) Governing Law. The validity, construction, and effect of the Program and any rules and regulations relating to the Program shall be determined
in accordance with the laws of the State of Delaware without regard to its conflicts of laws principles. 
 (e) Severability. If any
provision of the Program or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Program or any Award under any law deemed applicable by the
Committee, such provision shall be construed or deemed amended to conform to the applicable law or, if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Program or the
Award, such provision shall be stricken as to such jurisdiction, Person or Award and the remainder of the Program and any such Award shall remain in full force and effect. 
 (f) Other Laws. The Committee may refuse to issue or transfer any Units or other consideration under an Award if, in its sole discretion, it determines that the issuance or transfer of such Units
or such other consideration might violate any applicable law or regulation, the rules of the principal securities exchange on which the Units are then traded, or entitle the Partnership or an Affiliate of the Partnership to recover the same under
Section 16(b) of the Exchange Act, and any payment tendered by a Participant, other holder or beneficiary in connection with the exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary. 

(g) No Trust or Fund Created. Neither the Program nor any Award shall create or be construed to create a trust or separate fund of any kind or a
fiduciary relationship between the Company or any participating Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company or any participating Affiliate pursuant to an Award,
such right shall be no greater than the right of any general unsecured creditor of the Company or any participating Affiliate. 

  
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 (h) No Fractional Units. No fractional Units shall be issued or delivered pursuant to the Program or
any Award, and the Committee shall determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Units or whether such fractional Units or any rights thereto shall be canceled, terminated, or
otherwise eliminated. 
 (i) Headings. Headings are given to the Sections and subsections of the Program solely as a convenience to
facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Program or any provision thereof. 
 (j) Facility of Payment. Any amounts payable hereunder to any person under legal disability or who, in the judgment of the Committee, is unable to manage properly his financial affairs, may be paid
to the legal representative of such person, or may be applied for the benefit of such person in any manner that the Committee may select, and the Company shall be relieved of any further liability for payment of such amounts. 

(k) Participation by Affiliates. In making Awards to Employees employed by an Affiliate of the Company, the Committee shall be acting on behalf of
such Affiliate, and to the extent the Partnership has an obligation to reimburse such Affiliate for compensation paid for services rendered for the benefit of the Partnership, such payments or reimbursement payments may be made by the Partnership
directly to such Affiliate, and, if made to the Company, shall be received by the Company as agent for such Affiliate. 
 (l) Gender and
Number. Words in the masculine gender shall include the feminine gender, the plural shall include the singular and the singular shall include the plural. 
 (m) Compliance with Section 409A. 
 (i) Awards made under this Program
are intended to comply with or be exempt from Section 409A of the Code, and ambiguous provisions hereof, if any, shall be construed and interpreted in a manner consistent with such intent. No payment, benefit or consideration shall be
substituted for an Award if such action would result in the imposition of taxes under Section 409A of the Code. Notwithstanding anything in this Program to the contrary, if any Program provision or Award under this Program would result in the
imposition of an additional tax under Section 409A of the Code, that Program provision or Award shall be reformed, to the extent permissible under Section 409A of the Code, to avoid imposition of the additional tax, and no such action
shall be deemed to adversely affect the Participant’s rights to an Award. 
 (ii) Unless the Committee provides otherwise
in an Award Agreement, each Phantom Unit (or portion thereof if the Phantom Unit is subject to a vesting schedule) shall be settled no later than the 15th day of the third month after the end of the first calendar year in which the Award (or such
portion thereof) is no longer subject to a “substantial risk of forfeiture” within the meaning of Section 409A of the Code. If the Committee determines that a Phantom Unit is intended to be subject to Section 409A of the Code,
the applicable Award Agreement shall include terms that are designed to satisfy the requirements of Section 409A of the Code. 
 (iii) Notwithstanding anything herein or in any Award Agreement to the contrary, if the Participant is a “specified employee” within the meaning of Section 409A of the Code(a)(2)(B)(i) on
the date on which the Participant has a “separation from service” (other than 

  
 12 

 
due to death) within the meaning of Treasury Regulation § 1.409A-1(h), any Award payable or settled on account of separation from service that is deferred compensation subject to
Section 409A of the Code shall be paid or settled on the earliest of (1) the first business day following the expiration of six months from the Participant’s separation from service, (2) the date of the Participant’s death,
or (3) such earlier date as complies with the requirements of Section 409A of the Code. 
 (n) No Guarantee of Tax
Consequences. None of the Board, the Partnership, the Company, any Affiliate of the Company nor the Committee makes any commitment or guarantee that any federal, state or local tax treatment will apply or be available to any person participating
or eligible to participate hereunder. 
 (o) Claw-back Policy. All Awards (including any proceeds, gains or other economic benefit
actually or constructively received by the Participant upon any receipt or exercise of any Award or upon the receipt or resale of any Units underlying the Award) shall be subject to the provisions of any claw-back policy implemented by the
Partnership or the Company, including, without limitation, any claw-back policy adopted to comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder, to the
extent set forth in such claw-back policy and/or in the applicable Award Agreement. 
 SECTION 9. Term of the Program. 

The Program, shall be effective on December 20, 2011 (“Effective Date”). The Program shall continue until the earliest of
(i) the date terminated by the Board, (ii) all Units available under the Program have been issued to Participants, or (iii) the 10th anniversary of the date on which the Program was approved by the Company. However, any Award granted
prior to such termination, and the authority of the Board or the Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date.

  
 13Form of Restricted Unit Award Agreement

 Exhibit 10.5 
 MID-CON ENERGY PARTNERS, LP 
 LONG-TERM INCENTIVE PROGRAM 

FORM OF RESTRICTED UNIT AWARD AGREEMENT 
 This Restricted Unit Award Agreement (this “Agreement”) is made and entered into by and between Mid-Con Energy GP, LLC, a Delaware limited liability company (the
“Company”), and              (the “Participant”). This Agreement is entered into as of the      day of
            , 20     (the “Date of Grant”). Capitalized terms used in this Agreement but not otherwise defined herein shall have the meanings
ascribed to such terms in the Program (as defined below), unless the context requires otherwise. 
 W I T N E S S E T H:

 WHEREAS, the Company adopted the MID-CON ENERGY PARTNERS, LP LONG-TERM INCENTIVE PROGRAM (the
“Program”) on December     , 2011, to attract, retain and motivate employees, officers, directors and consultants; and 

WHEREAS, the Board of Directors of the Company (the “Board”) has authorized the grant to employees,
officers and directors of restricted units of MID-CON ENERGY PARTNERS, LP, a Delaware limited partnership (the “Partnership”), as part of their compensation for services performed for the Company, the Partnership, or any
other entity which is an affiliate (within the meaning of such term under the Exchange Act and the rules promulgated thereunder) of the foregoing entities (collectively, the “Partnership Entities”). 

NOW, THEREFORE, in consideration of the Participant’s agreement to provide or to continue providing services to the
Partnership Entities, the Participant and the Company agree as follows: 
 SECTION 1. Grant. 

The Company hereby grants to the Participant as of the Date of Grant an award of
             Units, subject to the terms and conditions set forth in the Program, which is incorporated herein by reference, and in this Agreement, including, without limitation, those
restrictions described in Section 2 (the “Restricted Units”). 
 SECTION 2. Restricted
Units. 
 The Restricted Units are restricted in that they may be forfeited to the Company and in that they may not,
except as otherwise provided in Section 5, be transferred or otherwise disposed of by the Participant until such restrictions are removed or expire as described in Section 4 of this Agreement. The Company shall issue in the
Participant’s name the Restricted Units and shall retain the Restricted Units until the restrictions on such Restricted Units expire or until the Restricted Units are forfeited as described in Section 4 of this Agreement. The Participant
agrees that the Company will hold the Restricted Units pursuant to the terms of this Agreement until such time as the Restricted Units are either delivered to the Participant or forfeited pursuant to this Agreement. 

 SECTION 3. Rights of Participant; Unit Distribution Rights. 

Effective as of the Date of Grant, the Participant shall be treated for all purposes as a unitholder with respect to all of the Restricted
Units granted to him pursuant to Section 1 (except that the Participant shall not be treated as the owner of the Units for federal income tax purposes until the Restricted Units vest (unless the Participant makes an election under section 83(b)
of the Code, in which case the Participant shall be treated as the owner of the Units for all purposes on the Date of Grant)) and shall, except as provided herein, have all of the rights and obligations of a unitholder with respect to all such
Restricted Units, including any right to vote with respect to such Restricted Units and to receive any UDRs thereon if, as, and when declared and paid by the Partnership. Notwithstanding the preceding provisions of this Section 3, the
Restricted Units shall be subject to the restrictions described herein, including, without limitation, those described in Section 2. 
 SECTION 4. Forfeiture and Expiration of Restrictions. 

(a) Vesting Schedule. Subject to the terms and conditions of this Agreement, the restrictions described in Section 2
shall lapse and the Restricted Units shall become vested and nonforfeitable (“Vested Units”), provided the Participant has continuously provided services to the Partnership Entities (including employment with the Partnership
Entities or membership on the Board, as applicable), without interruption, from the Date of Grant through each applicable vesting date (each, a “Vesting Date”), in accordance with the following schedule: 

 

					
		 	Vesting Date	  	Portion Vested

 The number of Restricted Units that vest as of each date described above will be rounded down to the
nearest whole Restricted Unit, with any remaining Restricted Units to vest with the final installment. 

(b) Termination of Service or Change of Control. 

(i) Termination For Any Reason. If, at any time prior to the final Vesting Date, the Participant’s employment
with the Partnership Entities or membership on the Board, as applicable, is terminated for any reason other than the Participant’s death or disability, then all Restricted Units granted pursuant to this Agreement that have not yet vested as of
the date of the Participant’s termination shall become null and void as of the date of such termination, shall be forfeited to the Company and the Participant shall cease to have any rights with respect thereto; provided, however,
that the portion, if any, of the Restricted Units for which forfeiture restrictions have lapsed as of the Participant’s date of termination shall survive. 
 (ii) Termination due to Death or Disability. If, at any time prior to the final Vesting Date, the Participant’s employment with the Partnership Entities or membership on the Board, as
applicable, is terminated by reason of the Participant’s death or disability, then all Restricted Units granted pursuant to this Agreement that remain unvested as of the date of the Participant’s termination shall immediately become fully
vested and nonforfeitable as of the date of such termination. 

  
 -2-

 (iii) Change of Control. In the event of a Change of Control prior to
the final Vesting Date, except as otherwise provided in the Program, all restrictions described in Section 2 shall lapse and all Restricted Units granted pursuant to this Agreement shall become immediately vested and nonforfeitable. 

SECTION 5. Limitations on Transfer. 
 The Participant agrees that he shall not dispose of (meaning, without limitation, sell, transfer, pledge, exchange, hypothecate or otherwise dispose of) any Restricted Units hereby acquired prior to the
applicable Vesting Dates, including pursuant to a domestic relations order issued by a court of competent jurisdiction. Any attempted disposition of the Restricted Units in violation of the preceding sentence shall be null and void. 

SECTION 6. Nontransferability of Agreement. 
 This Agreement and all rights under this Agreement shall not be transferable by the Participant other than by will or pursuant to applicable laws of descent and distribution. Any rights and privileges of
the Participant in connection herewith shall not be transferred, assigned, pledged or hypothecated by the Participant or by any other person or persons, in any way, whether by operation of law, or otherwise, and shall not be subject to execution,
attachment, garnishment or similar process. In the event of any such occurrence, the Restricted Units shall automatically be forfeited. 
 SECTION 7. Adjustment of Restricted Units. 
 The number of
Restricted Units granted to the Participant pursuant to this Agreement shall be adjusted to reflect unit splits or other changes in the capital structure of the Partnership, all in accordance with the Program. All provisions of this Agreement shall
be applicable to such new or additional or different units or securities distributed or issued pursuant to the Program to the same extent that such provisions are applicable to the Units with respect to which they were distributed or issued.

 SECTION 8. Delivery of Vested Units. 

Promptly following the expiration of the restrictions on the Restricted Units as contemplated in Section 4 of this Agreement, and
subject to Section 9, the Company shall cause to be issued and delivered to the Participant or the Participant’s designee the number of Restricted Units as to which restrictions have lapsed, free of any restrictive legend relating to the
lapsed restrictions, and shall pay to the Participant any previously unpaid UDRs distributed with respect to the Restricted Units. Neither the value of the Restricted Units nor the UDRs shall bear any interest owing to the passage of time.

  
 -3-

 SECTION 9. Securities Act. 

The Company shall have the right, but not the obligation, to cause the Restricted Units to be registered under the appropriate rules and
regulations of the SEC. The Company shall not be required to deliver any Units hereunder if, in the opinion of counsel for the Company, such delivery would violate the Securities Act of 1933, as amended, or any other applicable federal or state
securities laws or regulations. By accepting this grant, the Participant agrees that any Units that the Participant may acquire upon vesting of this Award will not be sold or otherwise disposed of in any manner that would constitute a violation of
any applicable federal or state securities laws. 
 SECTION 10. Copy of Program. 

By the execution of this Agreement, the Participant acknowledges receipt of a copy of the Program. If any provision of this Agreement is
held to be illegal, invalid or unenforceable under any applicable law, then such provision will be deemed to be modified to the minimum extent necessary to render it legal, valid and enforceable; and if such provision cannot be so modified, then
this Agreement will be construed as if not containing the provision held to be invalid, and the rights and obligations of the parties will be construed and enforced accordingly. 

SECTION 11. Notices. 
 Whenever any notice is required or permitted hereunder, such notice must be in writing and personally delivered or sent by mail. Any such notice required or permitted to be delivered hereunder shall be
deemed to be delivered on the date on which it is personally delivered or, whether actually received or not, on the third business day (on which banking institutions in the State of Texas are open) after it is deposited in the United States mail,
certified or registered, postage prepaid, addressed to the person who is to receive it at the address which such person has theretofore specified by written notice delivered in accordance herewith. The Company or the Participant may change at any
time and from time to time by written notice to the other, the address which it or he or she previously specified for receiving notices. The Company and the Participant agree that any notices shall be given to the Company or to the Participant at
the following addresses: 
  

					
		 	Company:	  	Mid-Con Energy GP, LLC
		 		  	Attn: President and Chief Financial Officer
		 		  	2501 North Harwood Street, Suite 2410
		 		  	Dallas, Texas 75201
			
		 	Participant:	  	At the Participant’s current address as shown in the Company’s records.

 SECTION 12. General Provisions. 

(a) Administration. This Agreement shall at all times be subject to the terms and conditions of the Program. The Committee
shall have sole and complete discretion with respect 

  
 -4-

 
to all matters reserved to it by the Program and decisions of the Committee with respect thereto and with respect to this Agreement shall be final and binding upon the Participant and the
Company. In the event of any conflict between the terms and conditions of this Agreement and the Program, the provisions of the Program shall control. 
 (b) Continuation of Service. This Agreement shall not be construed to confer upon the Participant any right to continue in the service of the Partnership Entities. 

(c) Governing Law. This Agreement shall be interpreted and administered under the laws of the State of Texas, without giving
effect to any conflict of laws provisions. 
 (d) Amendments. This Agreement may be amended only by a written
agreement executed by the Company and the Participant, except that the Committee may unilaterally waive any conditions or rights under, amend any terms of, or alter this Agreement provided no such change (other than pursuant to Section 4(c) or
6(vii) of the Program) materially reduces the rights or benefits of the Participant with respect to the Restricted Units without his or her consent. 
 (e) Binding Effect. This Agreement shall be binding upon and inure to the benefit of any successor or successors of the Company and upon any person lawfully claiming under the Participant.

 (f) Entire Agreement. This Agreement constitutes the entire agreement of the parties with regard to this subject
matter hereof, and contains all the covenants, promises, representations, warranties and agreements between the parties with respect to the Restricted Units granted hereby. Without limiting the scope of the preceding sentence, all prior
understandings and agreements, if any, among the parties hereto relating to the subject matter hereof are hereby null and void and of no further force and effect. 
 (g) No Liability for Good Faith Determinations. Neither the Partnership Entities, nor the members of the Committee or the Board, nor any officer of the Company, shall be liable for any act,
omission or determination taken or made in good faith with respect to this Agreement or the Restricted Units granted hereunder. 

(h) No Guarantee of Interests. The Board and the Partnership Entities do not guarantee the Units from loss or depreciation.

 (i) Withholding Taxes. To the extent that the grant or vesting of a Restricted Unit or distribution thereon
results in the receipt of compensation by the Participant with respect to which any Partnership Entity has a tax withholding obligation pursuant to applicable law, unless other arrangements have been made by the Participant that are acceptable to
such Partnership Entity, the Participant shall deliver to the Partnership Entity such amount of money as the Partnership Entity may require to meet its withholding obligations under applicable law. No issuance of an unrestricted Unit shall be made
pursuant to this Agreement until the Participant has paid or made arrangements approved by the Partnership Entity to satisfy in full the applicable tax withholding requirements of the Partnership Entity with respect to such event. 

(j) Insider Trading Policy. The terms of the Company’s Insider Trading Policy with respect to Units are incorporated
herein by reference. 

  
 -5-

 (k) Section 83(b) Election. The Participant agrees that, if he or she makes an
election under Section 83(b) of the Code with regard to Restricted Units, the Participant will notify the Company in writing within two (2) days after making such election. 

SECTION 13. Claw-back Policy. 
 In accordance with Section 8(o) of the Program, the Restricted Units (including any distributions paid on the Restricted Units and any proceeds, gain or other economic benefit actually or
constructively received by the Participant in connection with or related to the Restricted Units or the sale of any Vested Units) shall be subject to the provisions of any claw-back policy implemented in the future from time to time by the Company
or the Partnership. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 -6-

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its
officer thereunto duly authorized, and the Participant has set his or her hand as to the date and year first above written. 
  

			
	MID-CON ENERGY GP, LLC
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

	
	  

	Participant

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