SEC Contract Filing

Filing Date: 2018-07-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>directorindemnificationagr.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="s5D9322EAF043BEF1A92E6C6C1604FC9E"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Exhibit 10.1</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">INDEMNIFICATION AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">INDEMNIFICATION AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), made and executed as of July 5, 2018 by and between Oasis Midstream Partners LP, a Delaware limited partnership (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Partnership</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and Harry N. Pefanis, an individual resident of the State of Texas (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Indemnitee</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">WITNESSETH</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Partnership is aware that, to induce and to retain highly competent persons to serve OMP GP LLC, a Delaware limited liability company and the general partner of the Partnership (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">General Partner</font><font style="font-family:inherit;font-size:12pt;">&#8221;), as directors or officers or in other capacities, the Partnership must provide such persons with adequate protection through insurance and indemnification against significant risks of claims and actions against them arising out of their service to and activities on behalf of the Partnership and the General Partner;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Partnership recognizes the substantial increase in business litigation in general, subjecting directors and officers to significant litigation risks at the same time as the availability and coverage of liability insurance has been limited;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of September 25, 2017 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Partnership Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) contains indemnification provisions that entitle the members of the Board of Directors of the General Partner (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Board of Directors</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and the officers of the General Partner to indemnification protection to the fullest extent permitted by applicable law; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, it is reasonable, prudent and necessary for the Partnership to obligate itself contractually to indemnify such persons to the fullest extent permitted by applicable law and to provide an express process and procedure for seeking indemnification so that they will continue to serve the Partnership and the General Partner free from undue concern.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">AGREEMENT</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Partnership and the Indemnitee do hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;color:#010000;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;">DEFINITIONS. For purpo