Document:

Common Unit Redemption Agreement

 Exhibit 10.1 
  
 COMMON UNIT REDEMPTION AGREEMENT 
  
 This COMMON UNIT REDEMPTION AGREEMENT (this “Agreement”), is made and entered into as of April 1, 2004, by and
between Sunoco Logistics Partners L.P., a Delaware limited partnership (the “Partnership”) and Sunoco Partners LLC, a Pennsylvania limited liability company (the “Holder”). 
  
 WHEREAS, the Holder now owns 5,638,154 common units representing limited
partner interests in the Partnership (the “Common Units”); 
  
 WHEREAS, the Partnership desires to increase the public float of the Common Units; 
  
 WHEREAS, the Partnership and the Holder, among the other parties thereto, have entered into an underwriting agreement of even date herewith (the “Underwriting Agreement”) with Lehman Brothers Inc., Citigroup
Global Markets Inc., Goldman, Sachs & Co., KeyBanc Capital Markets, a division of McDonald Investments Inc., RBC Capital Markets Corporation and Credit Suisse First Boston LLC (collectively, the “Underwriters”) pursuant to which the
Partnership is publicly offering (the “Public Offering”) for cash (i) 3,400,000 Common Units (the “Primary Units”) and (ii) in the event the Underwriters exercise their over-allotment option pursuant to the Underwriting
Agreement, up to an additional 510,000 Common Units (the “Option Units”), in each case pursuant to the Partnership’s registration statement on Form S-3 (File No. 333-103710) (as amended to the date hereof, the “Registration
Statement”) and a prospectus supplement (together with the prospectus included in the Registration Statement, the “Prospectus”) filed under Rule 424 under the Securities Act (as defined herein); and 
  
 WHEREAS, the Holder desires to transfer to the Partnership, and the
Partnership desires to redeem from the Holder, up to an aggregate of 2,693,059 Common Units upon the terms and conditions hereinafter set forth. 
  
 NOW THEREFORE, in consideration of the mutual covenants, conditions and agreements set forth herein, and for good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 1. Redemption of Units. On the Initial Closing Date (as defined below), and subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Holder agrees to
transfer to the Partnership, and the Partnership agrees to redeem from the Holder, up to 2,183,059 Common Units (the “Initial Redemption Units”) from the Holder, at a price per unit of $38.06 (the “Redemption Price”), which is
equal to the net proceeds per unit received by the Partnership in the Public Offering, after underwriting discounts and commissions, but before expenses (the “Initial Redemption”). In addition, upon the Additional Closing Date (as defined
below), and subject to the terms and conditions and in reliance on the representations and warranties herein set forth, the Holder agrees to transfer to the Partnership, and the Partnership agrees to redeem from the Holder, at the Redemption Price,
a number of Common Units (the “Additional Redemption Units” and, together with the Initial Redemption Units, the “Redemption Units”) equal to the number of Option Units purchased from the Partnership by the Underwriters (the
“Additional Redemption”). 

 1.1 The closings of the Initial Redemption and the Additional Redemption shall take place at such places
and such times so as to coincide with the Underwriters’ purchase of Primary Units (the “Initial Closing Date”) and Option Units (the “Additional Closing Date”) from the Partnership in the Public Offering. 
  
 1.2 At each closing, the Holder shall assign and transfer to the Partnership
all its right, title and interest in and to the Redemption Units free and clear of all liens or other limitations or restrictions and deliver to the Partnership the certificate or certificates representing the Redemption Units, duly endorsed in
blank or accompanied by separate stock powers so endorsed. The Holder shall execute the certificate of transfer on the back of the certificate or certificates representing the Redemption Units. 
  
 1.3 The Partnership shall pay the aggregate Redemption Price for the Initial
Redemption and the Additional Redemption, as applicable, on the Initial Closing Date and the Additional Closing Date, as applicable, without deduction, by wire transfer of immediately available funds to an account of the Holder (the number for which
account shall have been furnished to the Partnership at least one business day prior to the Initial Closing Date and the Additional Closing Date, as applicable). 
  
 1.4 The Partnership hereby acknowledges and agrees that, by executing and delivering this Agreement and consummating the
transactions contemplated hereby, the Holder is not waiving, in whole or in part, any registration rights it has pursuant to Section 7.12 of the First Amended and Restated Agreement of Limited Partnership of the Partnership, as amended, dated as of
February 8, 2002 (the “Partnership Agreement”) with respect to (i) any Units subject to this Agreement that are not redeemed pursuant to this Agreement or (ii) any other Common Units owned by the Holder that are not Redemption Units
subject to this Agreement, including but not limited to the Holder’s right, as exercised by a registration request, to cause the Partnership to effect the registration under the Securities Act of all Common Units owned by the Holder pursuant to
the terms and conditions of the Partnership Agreement. 
  
 1.5 The
Partnership and the Holder intend that the transfer by the Partnership to the Holder of the aggregate Redemption Price for the Initial Redemption and the Additional Redemption shall not be treated as part of a sale of property by the Holder to the
Partnership; rather, the transfer shall be treated as a reimbursement for capital expenditures incurred by the Holder with respect to Partnership property contributed by the Holder to the Partnership during the two year period preceding the initial
formation of the Partnership. 
  
 2. Representations and
Warranties of Holder. The Holder hereby represents and warrants to, and agrees with the Partnership, as applicable, that: 
  
 2.1 Existence and Power. The Holder is a limited liability company duly incorporated, validly existing and in good standing under the laws of the
State of Pennsylvania and has all requisite limited liability company power and authority to execute and deliver this Agreement, consummate the transactions and perform each of its obligations contemplated hereby. 
  

 - 2 - 

 2.2 Authority; Approvals. (a) The execution and delivery of this Agreement by the Holder, the
consummation by the Holder of each of the transactions and the performance by the Holder of its obligations contemplated hereby have been duly and properly authorized by all necessary limited liability company action on the part of the Holder. This
Agreement has been duly executed and delivered by the Holder, and, assuming the accuracy of the representations and warranties of the Partnership in Section 3 hereof, constitutes the valid and legally binding obligation of the Holder, enforceable
against the Holder in accordance with its terms, subject, (i) as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and other similar laws of general applicability relating to or affecting creditors’ rights and to general
principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (ii) to equitable principles of general applicability relating to the availability of specific performance, injunctive relief, or
other equitable remedies. 
  
 (b) The execution and delivery of
this Agreement by the Holder and the consummation of each of the transactions and the performance of each of the obligations contemplated hereby (i) do not conflict with, violate or breach (whether with or without notice or a lapse of time or both),
require the consent of any Person to or otherwise result in a material detriment to the Holder under, (A) its organizational documents or (B) any agreement to which it is a party or by which its assets or property is bound or any law or order
applicable to it, in the case of clause (B), which conflicts, violations, breaches or material detriments could reasonably be expected to prevent the consummation of any of the transactions contemplated hereby or have a material adverse effect on
the business, properties or condition (financial or otherwise) of the Holder; and (ii) do not impose any penalty or other onerous condition on the Holder that could reasonably be expected to prevent the consummation of any of the transactions
contemplated hereby. As used in this Agreement, the term “Person” means a natural person, corporation, limited liability company, venture, partnership, trust, unincorporated organization, association or other entity. 
  
 (c) No approval from any Governmental Entity is required with respect to the
Holder in connection with the execution and delivery by the Holder of this Agreement, the performance by the Holder of its obligations hereunder or the consummation by the Holder of the transactions contemplated hereby, except for any such approval
the failure of which to be made or obtained (i) has not impaired and could not reasonably be expected to impair the ability of the Holder to perform its obligations under this Agreement in any material respect, and (ii) could not reasonably be
expected to delay, in any material respect, or prevent the consummation of any of the transactions contemplated by this Agreement. As used in this Agreement, the term “Governmental Entity” means any agency, bureau, commission, authority,
department, official, political subdivision, tribunal or other instrumentality of any government, whether (i) regulatory, administrative or otherwise; (ii) federal, state or local; or (iii) domestic or foreign. 
  
 2.3 Ownership of Redemption Units. The Holder is the record and
beneficial owner of the Redemption Units, free and clear of any lien and any other limitation or restriction with full right and authority to deliver the same hereunder, and will transfer and deliver to the Partnership on the Initial Closing Date
and the Additional Closing Date, as applicable, valid title to the Initial Redemption Units and the Aditional Redemption Units, in each case free and clear of any lien and any such other limitation or restriction. 
  

 - 3 - 

 2.4 Independent Investigation. The Holder (a) has the requisite knowledge, sophistication and
experience in order to fairly evaluate a disposition of the Redemption Units, including the risks associated therewith, and (b) has adequate information and has made its own independent investigation and evaluation to the extent it deems necessary
or appropriate concerning the properties, business and financial condition of the Partnership to make an informed decision regarding the transfer of the Redemption Units pursuant to this Agreement. 
  
 3. Representations and Warranties of the Partnership. The Partnership
hereby represents and warrants to, and agrees with the Holder, that: 
  
 3.1 Existence and Power. The Partnership is a limited partnership duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite limited partnership power and authority to execute
and deliver this Agreement, consummate the transactions and perform each of its obligations contemplated hereby. 
  
 3.2 Authority; Approvals. (a) The execution and delivery of this Agreement by the Partnership, the consummation by the Partnership of each of the
transactions and the performance by the Partnership of each of its obligations contemplated hereby have been duly and properly authorized by all necessary partnership action on the part of the Partnership. This Agreement has been duly executed and
delivered by the Partnership and, assuming the accuracy of the representations and warranties of the Holder in Section 2 hereof, constitutes the valid and legally binding obligation of the Partnership, enforceable against it in accordance with its
terms, subject, (i) as to enforceability, to bankruptcy, insolvency, reorganization, moratorium and other similar laws of general applicability relating to or affecting creditors’ rights and to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law) and (ii) to equitable principles of general applicability relating to the availability of specific performance, injunctive relief, or other equitable remedies.

  
 (b) The execution and delivery of this Agreement by the
Partnership and the consummation of each of the transactions and the performance of each of the obligations contemplated hereby (i) do not conflict with, violate or breach (whether with or without notice or a lapse of time or both), require the
consent of any Person to or otherwise result in a material detriment to the Partnership under, (A) its organizational documents or (B) any agreement to which it is a party or by which its assets or property is bound or any law or order applicable to
it, in the case of clause (B), which conflicts, violations, breaches or material detriments could reasonably be expected to prevent the consummation of any of the transactions contemplated hereby or have a material adverse effect on the business,
properties or condition (financial or otherwise) of the Partnership; and (ii) do not impose any penalty or other onerous condition on the Partnership that could reasonably be expected to prevent the consummation of any of the transactions
contemplated hereby. 
  
 (c) No approval from any Governmental
Entity is required with respect to the Partnership in connection with the execution and delivery by the Partnership of this Agreement, the performance by the Partnership of its obligations hereunder or the consummation by the Partnership of the
transactions contemplated hereby, except (i) as have been obtained under the Securities Act of 1933, as amended, and the rules and regulations of the Securities and Exchange Commission (the “Commission”) thereunder (collectively, the
“Securities Act”), and 
  

 - 4 - 

 as may be required under state securities or blue sky laws in connection with the Public Offering and (ii) for any such
approval the failure of which to be made or obtained (A) has not impaired and could not reasonably be expected to impair the ability of the Partnership to perform its obligations under this Agreement in any material respect and (B) could not
reasonably be expected to delay, in any material respect, or prevent the consummation of any of the transactions contemplated by this Agreement. 
  
 4. Conditions to Closing. 
  
 4.1 Conditions to Obligations of the Partnership. The obligation of the Partnership to redeem the Redemption Units on the Initial Closing Date and
the Additional Closing Date is subject to the satisfaction of the following conditions: 
  
 (a) The closings contemplated in Section 4 of the Underwriting Agreement shall have occurred with respect to the Primary Units or the Option Units, as applicable; 
  
 (b) The Holder shall have performed in all material respects all of its
obligations hereunder required to be performed by it on or prior to the Initial Closing Date or the Additional Closing Date, as applicable; 
  
 (c) No action, claim, suit, hearing, complaint, demand, injunction, litigation, judgment, arbitration, order, decree, ruling or governmental
investigation or proceeding is then pending or threatened by any court or Governmental Entity, and no such court or Governmental Entity shall have issued any injunction, judgment or order, which shall remain in effect, that would prevent
consummation of the Initial Redemption or the Additional Redemption, as applicable; provided, however, that the parties hereto shall use their reasonable best efforts to have any such injunction, judgment or order vacated or reversed; 
  
 (d) The representations and warranties of the Holder contained in this
Agreement and in any certificate or other writing delivered by the Holder pursuant hereto shall be true in all material respects (except for such representations and warranties as shall be qualified by a materiality standard, which shall be true and
correct in all respects) at and as of the Initial Closing Date or the Additional Closing Date, as applicable, as if made at and as of such date; and 
  
 (e) The Partnership shall have received a certificate signed by a duly authorized officer of the Holder to the effect set forth in clauses (b) and (d)
above. 
  
 4.2 Conditions of Obligations of the Holder. The
obligation of the Holder to consummate the transactions contemplated on the Initial Closing Date and the Additional Closing Date, as applicable, is subject to the satisfaction of the following conditions: 
  
 (a) The closings contemplated in Section 4 of the Underwriting Agreement
shall have occurred with respect to the Primary Units or the Option Units, as applicable; 
  

 - 5 - 

 (b) The Partnership shall have performed in all material respects all of its obligations under this
Agreement required to be performed by it on or prior to the Initial Closing Date or the Additional Closing Date, as applicable; 
  
 (c) No action, claim, suit, hearing, complaint, demand, injunction, litigation, judgment, arbitration, order, decree, ruling or governmental
investigation or proceeding is then pending or threatened by any court or Governmental Entity, and no such court or Governmental Entity shall have issued any injunction, judgment or order, which shall remain in effect, that would prevent
consummation of the Initial Redemption or the Additional Redemption, as applicable; provided, however, that the parties hereto shall use their reasonable best efforts to have any such injunction, judgment or order vacated or reversed; 
  
 (d) The representations and warranties of the Partnership contained in this
Agreement and in any certificate or other writing delivered by the Partnership pursuant hereto shall be true in all material respects (except for such representations and warranties as shall be qualified by a materiality standard, which shall be
true and correct in all respects) at and as of the Initial Closing Date or the Additional Closing Date, as applicable, as if made at and as of such date; and 
  
 (e) The Holder shall have received a certificate signed by a duly authorized officer of the Holder on behalf of the Partnership to the effects set forth
in clauses (b) and (d) above. 
  
 5. Indemnification.

  
 5.1 Indemnification by the Partnership. The
Partnership will indemnify and hold harmless the Holder, its officers, directors and each person who controls the Holder within the meaning of Section 15 of the Securities Act and Section 20 of the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission thereunder (collectively, the “Exchange Act”) against all losses, claims, damages and liabilities (including, without limitation, the legal fees and other expenses incurred in connection with any
suit, action, proceeding or any claim asserted) arising out or based on: 
  
 (a) any inaccuracy or breach as of the date of this Agreement or as of the Initial Closing Date or the Additional Closing Date, as applicable, of any representation or warranty made by the Partnership in Section 3 of
this Agreement or in any certificate delivered by the Partnership pursuant to this Agreement; and 
  
 (b) the breach or default in the performance by the Partnership of any covenant, agreement or obligation to be performed by the Partnership pursuant to
this Agreement. 
  
 5.2 Indemnification by the Holder. The
Holder will indemnify the Partnership, its officers, directors and each person who controls the Partnership within, the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act, against all losses, claims, damages and
liabilities (including, without limitation, the legal fees and expenses 
  

 - 6 - 

 incurred in connection with any suit, action, proceeding or any claim asserted) arising out of or based on: 

 
 (a) any inaccuracy or breach as of the date of this Agreement or as of
the Initial Closing Date or the Additional Closing Date, as applicable, of any representation or warranty made by the Holder in Section 2 of this Agreement or in any certificate delivered by the Holder pursuant to this Agreement; and 
  
 (b) the breach or default in the performance by the Holder of any covenant,
agreement or obligation to be performed by the Holder pursuant to this Agreement. 
  
 The liability of the Holder pursuant to this Section 5.2 shall be limited to the aggregate Redemption Price. 
  
 5.3 Indemnification Procedures. If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be
brought or asserted against any person in respect of which indemnity may be sought pursuant to the preceding paragraphs of this Section 5, such person (the “Indemnified Person”) shall promptly notify the person or persons against whom such
indemnity may be sought (each an “Indemnifying Person”) in writing, and such Indemnifying Persons, upon request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified
Person and any others the Indemnifying Persons may designate in such proceeding and shall pay the reasonable fees and expenses of such counsel related to such proceeding. In any such proceeding, any Indemnified Person shall have the right to retain
its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person and not the Indemnifying Persons unless (i) the Indemnifying Persons and the Indemnified Person shall have mutually agreed to the contrary,
(ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person or (iii) the named parties in any such proceeding (including any impleaded parties) include both an Indemnifying
Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that no Indemnifying Person shall, in connection with any
proceeding or related proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be
reimbursed as they are incurred. No Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, each Indemnifying
Person agrees to indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested an Indemnifying
Person to reimburse the Indemnified Person for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, such Indemnifying Person agrees that it shall be liable for any settlement of any proceeding effected
without its written consent if (i) such settlement is entered into more than 90 days after receipt by such Indemnifying Person of the aforesaid request and (ii) such Indemnifying Person shall not have reimbursed the Indemnified Person in accordance
with such request prior to the date of such settlement. No Indemnifying Person shall, without the prior written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of 
  

 - 7 - 

 which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such
Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability on claims that are the subject matter of such proceeding. 
  
 5.4 Contribution. The Partnership and the Holder agree that it would not be just and equitable if contribution
pursuant to this Section 5 were determined by pro rata allocation. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in this Section 5 shall be deemed to include any legal or
other expenses incurred by such Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall the Holder be required to contribute any amount in excess
of the amount of the aggregate Redemption Price received by it. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. 
  
 5.5 Full Force and
Effect. The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. The indemnity and contribution agreements contained
in this Section 5 and the representations and warranties of the Partnership and the Holder set forth in this Agreement shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation
made by or on behalf of any party hereto, its respective officers or directors or any person controlling such party and (iii) consummation of the Initial Redemption and the Additional Redemption, as applicable. 
  
 6. Expenses. Whether or not the transactions contemplated by this
Agreement are consummated, each of the Partnership (on the one hand) and the Holder (on the other hand) shall pay its own expenses incurred in connection with the negotiation and preparation of this Agreement and the consummation of the transactions
contemplated hereby. 
  
 7. Miscellaneous. 
  
 8.1 Notices. All notices, requests, demands, claims, and other
communications hereunder shall be in writing. Any notice, request, demand, claim, or other communication hereunder shall be deemed duly given two business days after it is sent by registered or certified mail, return receipt requested, postage
prepaid, and addressed to the intended recipient as set forth below: 
  
 If to the Holder: 
  
 Sunoco, Inc. 
 1801 Market Street 
 Philadelphia, Pennsylvania 19103 
 Attention: Michael S. Kuritzkes 
 Senior Vice President and General Counsel 
 Fax: (215) 977-3559 
  

 - 8 - 

 If to the Partnership: 
  
 Sunoco Logistics Partner L.P. 
 1801 Market Street 
 Philadelphia, Pennsylvania 19103 
 Attention: Bruce D. Davis, 
 Vice President, General Counsel and Secretary 
 Fax: (215) 246-8113 
  
 Any party may send any notice, request, demand, claim, or other communication hereunder to the intended recipient at the addresses set forth above using any other means
(including personal delivery, expedited courier, messenger service, telecopy, ordinary mail, or electronic mail). Delivery of written notices shall be effective (i) upon delivery, if sent by hand delivery, expedited courier or messenger service (in
any such case, with a record of receipt) or by ordinary mail or (ii) on the next day after the date of dispatch, if sent by telecopy, cable, facsimile, telegram, or electronic mail. Any party may change the address to which notices, requests,
demands, claims, and other communications hereunder are to be delivered by giving the other party notice in the manner herein set forth. 
  
 7.2 Amendments and Waivers. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is
signed, in the case of an amendment, by each party to this Agreement, or in the case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in exercising any right, power or privilege hereunder shall
operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 
  
 7.3 Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns. 
  
 7.4 Assignment. Neither this Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned or delegated, in whole or in part, by operation of law or otherwise by any party without the prior written
consent of the other party. 
  
 7.5 Governing Law. This
Agreement shall be governed by and construed in accordance with the law of the State of Delaware, without reference to its conflict of laws principles. 
  
 7.6 Public Announcements. Each party agrees that, except as may be required by applicable law or any listing agreement with any national securities
exchange, such party will not issue any press release or make any public statement with respect to this Agreement or the transactions contemplated hereby without obtaining the prior written consent of the other party. 
  
 7.7 Entire Agreement; No Third-Party Beneficiaries. This Agreement
constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the parties with respect to the subject matter of this Agreement. Except 
  

 - 9 - 

 as specifically set forth or referred to herein, nothing herein expressed or implied is intended or shall be construed to
confer upon or give to any Person, other than the parties hereto, and their permitted successors or assigns, any rights or remedies under or by reason of this Agreement. No third party is entitled to rely on any of the representations, warranties
and agreements contained in this Agreement, and the Partnership and the Holder assume no liability to any third party because of any reliance on the representations, warranties and agreements of the Partnership and the Holder contained in this
Agreement. 
  
 7.8 Severability. Any term or provision of
this Agreement which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of
this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction. If any provision of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be
only so broad as is enforceable. 
  
 7.9 Termination.
Notwithstanding any provision in this Agreement to the contrary, this Agreement shall terminate in the event the Underwriting Agreement is terminated in accordance with the terms contained therein. 
  
 7.10 Interpretation. When a reference is made in this Agreement to a
Section, such reference shall be to a Section of this Agreement unless otherwise indicated. The captions and headings appearing at the beginning of the various sections of this Agreement are for convenience of reference only and shall not be given
any effect whatsoever in the construction or interpretation of this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words
“without limitation.” 
  
 7.11 Section Headings.
The captions and headings appearing at the beginning of the various sections of this Agreement are for convenience of reference only and shall not be given any effect whatsoever in the construction or interpretation of this Agreement. 
  
 7.12 Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Any party may execute this Agreement by the delivery of a facsimile signature, which signature shall have the same force
and effect as an original signature. Any party that delivers a facsimile signature shall promptly thereafter deliver an originally executed signature to the other party; provided, however, that the failure to deliver an original signature page shall
not affect the validity of any signature delivered by facsimile. 
  
 [signature page follows] 
  

 - 10 - 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed by its duly
authorized officer as of the date first written above. 
  

					
	SUNOCO LOGISTICS PARTNERS, L.P.
	 By: Sunoco Partners LLC, its general partner

			
	 	 	 By:
	 	 /s/ DEBORAH M. FRETZ

	 	 	 Name: Deborah M. Fretz

	 	 	 Title: President and Chief Executive Officer

	
	SUNOCO PARTNERS LLC
			
	 	 	 By:
	 	 /s/ COLIN A. OERTON

	 	 	 Name: Colin A. Oerton

	 	 	 Title: Vice President and Chief Financial Officer

  

 - 11 -Exhibit 10.1

 Exhibit 10.1 
  
 EMPLOYMENT SEPARATION AND CONSULTING AGREEMENT 
  
 This AGREEMENT is made as of March 31, 2004, between DEBRA A. JONES (“Jones”) and CORNERSTONE REALTY INCOME TRUST,
INC., and its affiliates, subsidiaries, parent, predecessors, successors and assigns (referred to herein, collectively and individually, as “Cornerstone” or the “Company”). 
  
 REASONS FOR AGREEMENT 
  
 1.         Jones is being separated
from her employment as Co-Chief Operating Officer with Cornerstone. 
  
 2.         Under Jones’s employment contract with the Company, and Company policy, Jones is only entitled to certain benefits as may be required under the Company’s applicable benefits
policy. 
  
 3.
        Jones has asked for additional severance benefits above and beyond those provided by contract and Company policy. 
  
 4.         The Company has agreed to provide certain additional benefits to Jones
for the consideration from Jones specified below. 
  
 AGREEMENT 
  
 For and in consideration of
the mutual promises and commitments specified herein, the parties agree as follows: 
  
 1.         Resignation. Effective March 31, 2004, Jones voluntarily resigned from her position as co-Chief Operating Officer of Cornerstone and as an employee of
Cornerstone. Effective March 31, 2004, Jones ceased to have any executive, operational, managerial or employee rights, powers or duties with Cornerstone. Through September 30, 2006 (the “Separation Date”), Cornerstone will retain Jones as
a consultant of Cornerstone upon the terms and conditions set forth herein (the “Consultancy”). 
  
 2.         Consulting Duties. During the Consultancy, Jones will be available to Cornerstone’s
officers and their designees upon reasonable notice for consultation and specific assignments. During any such assignments, Jones will be reimbursed for reasonable and customary expenses in accordance with Cornerstone’s travel and expense
reimbursement policies and procedures. Cornerstone agrees that the hours required of Jones under the Consultancy will not exceed twenty (20) hours per month. 
  
 3.         Compensation. For Jones’s commitments and undertakings in this Agreement, Cornerstone
agrees to provide Jones with the following benefits: 
  
 (a) Until
March 31, 2008, Jones and her family shall be permitted to participate in any Cornerstone sponsored medical and dental benefit plan to the same extent as she would have 
  

 21 

 been permitted to participate as an executive member of management. Until September 30, 2006, Cornerstone shall pay the
full employer premium cost and maintain coverage for Jones for her and her family’s medical and dental insurance coverage pursuant to the Company’s existing medical and dental benefit plan(s). For eighteen (18) months thereafter, Jones and
her family may participate in and maintain such medical insurance coverage under the Company’s existing medical and dental benefit plan(s) at her expense. 
  

Until March 31, 2008, in the event that the coverage currently available to Jones becomes substantially different from her current coverage, Jones can,
at her option, procure an individual policy of coverage that will continue her medical and dental benefits at the current level. In the event Jones exercises her option prior to September 30, 2006, Cornerstone agrees that it will reimburse Jones for
any costs she incurs in changing her coverage and for any and all taxes incurred as a result of the change in coverage until September 30, 2006. In the event Jones exercises this option after September 30, 2006, Cornerstone agrees that it will
reimburse Jones for any amount above what Jones would have been paying under a company sponsored plan. 
  
 (b) During the Consultancy, Cornerstone will pay Jones at an annualized rate of One Hundred and Ninety Thousand Dollars ($190,000.00), payable in
semi-monthly installments of approximately Seven Thousand Nine Hundred and Sixteen Dollars ($7,916.67). 
  
 i. Early Termination and Accelerated Payment Clause: Upon the occurrence of a “triggering event” prior to the Separation Date,
Jones’s consulting duties hereunder will terminate and Cornerstone will promptly make a lump sum payment to Jones in an amount equal to the payments to which she would have been entitled pursuant to this Agreement had the Consultancy continued
until the Separation Date. For purposes of this section, a “triggering event” occurs when (A) the shareholders of Cornerstone approve a reorganization, merger or consolidation which would result in the shareholders of Cornerstone
immediately prior to such transaction owning less than a majority of the outstanding shares or voting power of the entity resulting from such transaction, (B) the shareholders of Cornerstone approve the liquidation or dissolution of Cornerstone or
(C) the shareholders of Cornerstone approve the sale or other disposition of 50% or more of Cornerstone’s consolidated assets, earning power or capital stock. 
  
 (c) Ineligibility for Stock Options, Performance Shares, Bonuses, Etc. After the date hereof, Jones will no longer be
eligible for any award or new grant of stock options or other stock compensation under the Cornerstone 1992 Incentive Plan, as amended and restated effective July 1, 2002 (the “Incentive Plan”) or any other stock compensation, bonus or
similar or substitute program of Cornerstone (a “Stock Plan”). 
  
 (d) Options. All Cornerstone options previously granted to Jones will expire, vest or be exercisable in accordance with their terms. 
  
 (e) Tax. During the Consultancy, Cornerstone will withhold applicable taxes, including F.I.C.A., federal, state and
local with respect to the payments arrangements described in this Agreement. 
  

 22 

 (f) Death. If Jones dies prior to the Separation Date, Jones’s designated beneficiary or
beneficiaries would be entitled to the payments and medical and dental benefits contemplated by Section 3 of this Agreement when, and to the extent, such payment or benefits would otherwise have been payable or available hereunder. 
  
 (g) Restricted Stock Grant. The Company agrees to remove the remaining
restrictions on shares of common stock issued to Jones on October 1, 2001. The effect of this will be to cause the restricted shares to vest immediately. 
  
 (h) Attorneys’ Fees. Cornerstone agrees to pay up to $10,000.00 of the attorneys’ fees charged Jones by Christian & Barton LLP on
account of the firm’s representation of her in connection with the negotiation of this Agreement. 
  
 (i) Life Insurance. Cornerstone also agrees to maintain at its expense a life insurance policy of at least $100,000 and a short-term and long-term
disability policy for Jones through Prudential or other carrier providing the same or superior coverage until September 30, 2006. 
  
 4.         General Release. In consideration for the compensation and benefits promised herein, Jones
agrees, for herself and her heirs, representatives, successors and assigns, that she has been finally and permanently separated from employment with Cornerstone, and that she waives, releases and forever discharges Cornerstone, its owners,
shareholders, directors, officers, employees and agents, from any and all claims, known or unknown, that she has or may have relating to or arising out of her employment with Cornerstone and the termination thereof, including but not limited to any
claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, liability in tort, claims of any kind that may be brought in any court or administrative agency, any claims under Title VII of the Civil
Rights Act of 1964, as amended, the Age Discrimination in Employment Act, the Jones Retirement Income Security Act, the Fair Labor Standards Act, the Family and Medical Leave Act or any other federal, state or local law relating to employment,
employee benefits or the termination of employment, or any other claim arising out of or relating to Jones’s employment, excepting only her benefits under Cornerstone’s profit sharing and pension plans, and the provisions of this
Employment Separation and Consulting Agreement. 
  
 Cornerstone
agrees to indemnify, defend and hold Jones harmless from any and all claims made against her arising out of the performance of her duties while employed by Cornerstone, except that Cornerstone shall have no obligation to indemnify, defend or hold
Jones harmless with respect to any acts committed outside the scope of her employment, or which constituted willful misconduct, bad faith, reckless disregard of duties or violation of the criminal law. Jones shall immediately notify Cornerstone of
any claims, and Cornerstone shall have the right to settle, defend, select counsel, and otherwise have the complete cooperation of Jones with respect to any claims. 
  
 5.         Special Release Notification. The General Release, paragraph 4,
includes a release of all claims under the Age Discrimination in Employment Act (“ADEA”) and, therefore, pursuant to the requirements of the ADEA, Jones acknowledges the following: 
  

 23 

 (a) that she has been advised that this release includes, but is not limited to, all claims under the
ADEA arising up to and including the date of execution of this release; 
  
 (b) that she has been advised to consult with an attorney and/or other advisor of her choosing concerning her rights and obligations under this release; 
  
 (c) that she has been advised to consider fully this release before executing it; 
  
 (d) that she has been offered ample time and opportunity, in excess of 21
days, to do so; and that this release shall become effective and enforceable 7 days following executing of this Employment Separation and Consulting Agreement by Jones, during which 7 day period Jones may revoke her acceptance of this Employment
Separation and Consulting Agreement by delivering written notice to Martin Richards, Esq., McGuireWoods LLP, 901 East Cary Street, One James Center, Richmond, VA 23219. 
  
 6.         Non-Disclosure. Jones agrees that the terms of this Agreement are
confidential, and agrees not to disclose the fact, terms or amount thereof to any person other than her attorney, income tax preparer or similar professional, or to her spouse and immediate family. To the extent that she discloses this information,
Jones agrees to instruct such professional, spouse or immediate family member that this information is to be kept confidential. 
  
 7.         Section 16. Jones agrees to comply with any applicable reporting requirements under Section 16
of the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder, that may apply to Jones after the date of this Agreement. In addition, Jones acknowledges and agrees that any such applicable reporting requirements and
related short-swing profit liabilities are solely her responsibility. 
  
 8.         Confidentiality. Jones agrees that she will not divulge or give anyone any confidential information obtained by her during her employment concerning Cornerstone’s business or
affairs, including without limitation, information relating to inventions, improvements, processes, techniques and other proprietary information or trade secrets, and to the Company’s relationships with actual or potential customers or the
needs or requirements of such customers. Jones also agrees not to disclose any information concerning any legal matters in which the Company is involved except as required by lawfully issued subpoena. 
  
 9.         Non-Competition.
Jones agrees that during the term of this Agreement and for a period of six (6) months after the date this Agreement expires (September 30, 2006), she will not directly or indirectly, in the same or a similar capacity to the capacity in which Jones
performed services for Cornerstone, engage in, represent, be employed by, affiliated with, or be connected with any competing business or activity within 100 miles of Richmond, Virginia. 
  
 Jones represents that the above restrictions are necessary to protect Cornerstone’s legitimate business interests, and
that these restrictions will not prevent Jones from earning a livelihood. 
  
 10.         Non-Solicitation of Employees. Jones agrees that during the term of this Agreement and for a period of six (6) months after the date this Agreement expires
(September 30, 2006), Jones will not, directly or indirectly, for herself or on behalf of any other person, partnership, 
  

 24 

 company or corporation, induce or attempt to induce any of the employees of Cornerstone to terminate their employment.

  
 11.       Injunctive
Relief. In the event of a breach or threatened breach by Jones of the covenants set forth in this Agreement, Jones acknowledges that Cornerstone will be irreparably harmed and that monetary damages shall be an insufficient remedy to Cornerstone.
Therefore, Jones consents to enforcement of the covenants in this Agreement by means of temporary or permanent injunction and other appropriate equitable relief in any competent court, in addition to any other remedies Cornerstone may have under
this Agreement or otherwise. 
  
 12.       Dispute Resolution. Any dispute, controversy or claim arising out of or relating to this Agreement, or the breach, termination or validity hereof, except an injunction proceeding under either
Sections 8, 9 or 10, shall be finally settled through binding arbitration by a sole, disinterested arbitrator in accordance with the Rules of the American Arbitration Association. The arbitrator shall be jointly selected by Jones and Cornerstone
but, if Jones and Cornerstone do not agree on an arbitrator within thirty days after demand for arbitration is made by a party, the arbitrator shall be designated by the American Arbitration Association. The award of the arbitrator shall be final
and conclusive, and the arbitration shall be concluded within six months of its commencement. Each party to the arbitration shall pay the compensation, costs, fees and expenses of its own witnesses, experts and counsel, and the compensation and any
costs and expenses of the arbitrator shall be borne equally by the parties. 
  
 13.       Return of Company Property. Jones warrants that she has returned to Cornerstone all company equipment and materials received by her in the course of her employment,
including without limitation, all paper and electronic company documents including memoranda, customer lists, price lists, marketing materials, reports and analyses, and all copies thereof, and that she has destroyed any electronic copies of such
materials remaining in her possession after she has complied with the requirements of this paragraph. Notwithstanding the foregoing provision, Jones may retain her company-provided automobile (Mercedes Benz/VIN 4JGAB54E4YA148719) and desktop and
laptop computers, provided, however, that all company proprietary and confidential information is removed from the computer before it will be released to Jones. Jones agrees to reimburse Cornerstone for the value of the 1997 Jeep Cherokee previously
given to her and for a miscellaneous item in the amount of $628.77. 
  
 14.       Cooperation. Jones recognizes that, because of her former position with Cornerstone, it is important that Cornerstone’s shareholders, vendors, employees and customers perceive that her
separation from Cornerstone is amicable. Jones agrees that she will continue to cooperate with Cornerstone by projecting a positive attitude toward Cornerstone, its shareholders, vendors, customers and employees, and its products. Similarly,
Cornerstone agrees that it desires to project a positive attitude toward Jones. 
  
 15.       No Admission. It is understood and agreed that, prior to entering into this Agreement, Cornerstone has admitted no liability for the compensation provided herein or for
any other benefits other than those provided by contract or Company policy. Cornerstone has entered into this Agreement solely for the purpose of maintaining an amicable and cooperative relationship between Jones and Cornerstone. 
  

 25 

 16.       Construction of Agreement. This Agreement shall be
governed by and interpreted in accordance with the laws of the Commonwealth of Virginia. If any provision of this Employment Separation and Consulting Agreement is held invalid, such invalidity shall not invalidate the entire Agreement and the
remainder of the Agreement shall not be affected. The parties agree that any suit or proceeding arising under this Agreement shall be brought solely in a federal or state court located in the City of Richmond, Virginia. 
  
 17.       Entire Agreement. 

 
 (a) The parties understand and agree that all terms of this Agreement are
contractual and are not a mere recital, and represent and warrant that they are competent and possess the full and complete authority to covenant and agree as herein provided. 
  
 (b) Jones understands, agrees, and represents that the covenants made herein and the releases herein executed may affect
rights and liabilities of substantial extent and agrees that the covenants and releases provided herein are in her best interest. Jones represents and warrants that, in negotiating and executing this Agreement, she has had an adequate opportunity to
consult with competent counsel or other representatives of her choosing concerning the meaning and effect of each term and provision hereof, and that there are no representations, promises or agreements other than those expressly set forth in
writing herein. 
  
 (c) This Agreement reflects the entire
understanding of the parties with respect to the subject matter hereof and supersedes and terminates any prior employment Agreement and any other agreements between the parties, as well as all prior discussions or understandings between the parties.
The terms of this Agreement may not be amended, deleted or modified except by prior written agreement signed by Jones and Cornerstone. 
  
 (d) The parties have carefully read this Agreement in its entirety; fully understand and agree to its terms and provisions; intend and agree that it is
final and binding and understand that, in the event of a breach, either party may seek relief, including damages, restitution and injunctive relief, at law or in equity, in a court of competent jurisdiction. 
  
  
 [The next page is the signature page.] 
  

 26 

 IN WITNESS WHEREOF, and intending to be legally bound, the parties have executed the foregoing Employment
Separation & Consulting Agreement this 31st day of March, 2004. 
  
  

					
	    March 31, 2004            	 	     /S/ DEBRA A. JONES

	Date	 	DEBRA A. JONES
		
	 	 	 CORNERSTONE REALTY INCOME TRUST, INC.

			
	    March 31, 2004            	 	By:	 	     /S/ GLADE M. KNIGHT

	 	 	 	 	

	Date	 	 	 	 Its Chief Operating Officer

  

 27

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}]]