SEC Contract Filing

Filing Date: 2015-09-04

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d40735dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS EMPLOYMENT AGREEMENT (this &#147;<U>Agreement</U>&#148;), dated as of September&nbsp;4, 2015 (the &#147;<U>Effective Date</U>&#148;), is
entered into by and among Atlas Energy Group, LLC, a Delaware limited liability company (the &#147;<U>Company</U>&#148;), Atlas Resource Partners, L.P., a Delaware limited partnership (&#147;<U>ARP</U>&#148;), and Edward E. Cohen (the
&#147;<U>Executive</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Executive previously served as Chief Executive Officer of Atlas Energy, L.P., a Delaware
limited partnership and predecessor of the Company (the &#147;<U>Predecessor</U>&#148;), pursuant to that certain Employment Agreement, dated as of May&nbsp;13, 2011 (the &#147;<U>Prior Agreement</U>&#148;), by and between the Predecessor and the
Executive; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in connection with the separation and distribution of the Company from the Predecessor, and the Executive ceasing to
provide services to the Predecessor, the Prior Agreement terminated, effective as of the effective time of such distribution; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company, ARP, and the Executive now wish to set forth in this Agreement the terms and conditions under which the Executive will
be employed by the Company and, through such employment, provide services to ARP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the parties hereto, intending to be
legally bound, hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Employment</U>. The Company agrees to employ the Executive, and the Executive hereby
accepts such employment and agrees to perform the Executive&#146;s duties and responsibilities, in accordance with the terms, conditions, and provisions hereinafter set forth. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.1 <U>Period of Employment</U>. This Agreement is effective as of the Effective Date, and shall continue for three years following the
Effective Date, unless terminated sooner in accordance with Section&nbsp;2. The term of this Agreement shall automatically renew daily so that, at all times, it shall be for a three-year term. The period commencing on the Effective Date and ending
on the date on which the term of the Executive&#146;s employment under this Agreement shall terminate is hereinafter referred to as the &#147;<U>Period of Employment</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.2 <U>Duties and Responsibilities</U>. During the Period of Employment, the Executive shall serve as Chief Executive Officer (the
&#147;<U>Position</U>&#148;). The Executive shall perform all duties and accept all responsibilities incident to the Position as may be reasonably assigned to him by the Board of Directors of the Company (the &#147;<U>Board</U>&#148;), including
performing such services for ARP as may be reasonably assigned to him by the Board. The Executive agrees to use his best efforts to carry out his duties and responsibilities hereunder and, consistent with the other provisions of this Agreement, to
devote such business time, attention, and energy thereto as is reasonably necessary to carry out those duties and responsibilities. It is recognized that the Executive in the past has invested and participated, and it is agreed that the Executive in
the future may invest and participate, in business and non-business endeavors separate and apart from the Company and ARP, in his discretion, <U>provided</U> that such endeavors do not prevent the Executive from materially performing his duties
under this Agreement. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1.3 <U>Compensation</U>. For all the services rendered by the Executive hereunder, the Company
shall pay the Executive an annual base salary (&#147;<U>Base Salary</U>&#148;) at the annual rate of $350,000, payable in accordance with the Company&#146;s customary payroll practices. The Executive&#146;s Base Salary shall be reviewed periodically
for appropriate increases by the Compensation Committee of the Board (the &#147;<U>Compensation Committee</U>&#148;) pursuant to its normal performance review policies for senior level executives, but such Base Salary shall not be decreased at any
time. The Executive may receive cash and non-cash bonus compensation in such amounts as the Board or Compensation Committee may approve in its sole discretion or under the terms of any incentive plan of the Company maintained for its senior level
executives. The Executive shall be entitled to participate in any short-term and long-term incentive programs (including, without limitation, any stock option, restricted unit, and similar plans) established by the Company for its senior level
executives generally, at levels commensurate with the benefits provided