SEC Contract Filing

Filing Date: 2017-05-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101formofawardnotic.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="sE54A26D9060D8BC75D3CCABDC8A1ECC6"></a></div><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:24px;font-size:14pt;"><img src="exhibit101formofaward_image1.jpg" alt="exhibit101formofaward_image1.jpg" style="height:46px;width:158px;"><font style="font-family:Arial;font-size:14pt;font-weight:bold;">ARCHROCK PARTNERS, L.P.</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">AWARD NOTICE AND AGREEMENT</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">PHANTOM UNIT AWARD WITH DERS FOR NON-EMPLOYEE DIRECTORS</font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:24px;text-indent:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Archrock GP LLC (the &#8220;</font><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Company</font><font style="font-family:Arial;font-size:10pt;">&#8221;), as general partner of Archrock General Partner, L.P., which is the general partner of Archrock Partners, L.P. (the &#8220;</font><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Partnership</font><font style="font-family:Arial;font-size:10pt;">&#8221;), has granted to you (the "</font><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Participant</font><font style="font-family:Arial;font-size:10pt;">") Phantom Units under the Archrock Partners, L.P. 2017 Long-Term Incentive Plan (as may be amended from time to time, the &#8220;</font><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Plan</font><font style="font-family:Arial;font-size:10pt;">&#8221;), subject to the terms and conditions set forth in this Award Notice and Agreement (the "</font><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Award Notice</font><font style="font-family:Arial;font-size:10pt;">") and the Plan. Each Phantom Unit shall be issued in tandem with a corresponding DER, which shall entitle you to payments in an amount equal to Partnership distributions in accordance with Section 2 below. Unless otherwise defined herein, capitalized terms used in this Award Notice shall have the respective meanings ascribed to them in the Plan. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The material terms of your Award are as follows:</font></div><div style="line-height:120%;padding-left:24px;padding-bottom:16px;text-align:justify;text-indent:60px;"><font style="padding-bottom:16px;text-align:justify;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;padding-right:48px;">1.</font><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Award. </font><font style="font-family:Arial;font-size:10pt;">You have been granted Phantom Units, each with a tandem grant of DERs (your "</font><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Award</font><font style="font-family:Arial;font-size:10pt;">").</font></div><div style="line-height:120%;padding-left:24px;padding-bottom:16px;text-align:justify;text-indent:60px;"><font style="padding-bottom:16px;text-align:justify;font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;padding-right:48px;">2.</font><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Distribution Equivalent Rights.</font><font style="font-family:Arial;font-size:10pt;">&#32;&#32;&#32;&#32;Each Phantom Unit granted hereunder is hereby granted in tandem with a corresponding DER, which DER shall remain outstanding from the Grant Date until the earlier of the payment or forfeiture of the Phantom Unit to which it corresponds (the &#8220;DER Period&#8221;). Each DER shall entitle you to receive payments, subject to and in accordance with this Award Notice, in an amount equal to each distribution (including any extraordinary or other non-recurring distribution), in each case, that (a) is made by the Partnership in respect of the Common Unit underlying the Phantom Unit to which such DER relates, and (b) has an applicable Distribution Date (as defined below) occurring during the DER Period. Such amounts (if any) shall be payable as and when such distributions are paid generally to the Partnership&#8217;s Common Unit holders (without regard to the vested or unvested status of the Phantom Unit underlying such DER on the applicable Distribution Date). Notwithstanding the foregoing, upon the payment or forfeiture of a Phantom Unit, the DER granted in tandem with such paid or forfeited Phantom Unit, as applicable, and the DER Period shall terminate with respect to such paid or forfeited Phantom Unit, as applicable. For the avoidance of doubt, a DER will only entitle you to payments relating to distributions with an applicable Distribution Date occurring between the Grant Date and the date on which you receive payment in respect of the Phantom Unit to which it correspo