SEC Contract Filing

Filing Date: 2015-02-23

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>d878341dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <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="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDED AND RESTATED OMNIBUS
AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>among </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CYPRESS ENERGY HOLDINGS, LLC, </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CYPRESS ENERGY MANAGEMENT, LLC, </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CYPRESS ENERGY PARTNERS, LLC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CYPRESS ENERGY PARTNERS, L.P., </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CYPRESS ENERGY PARTNERS GP, LLC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CYPRESS ENERGY PARTNERS &#150; TIR, LLC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FOLEY INSPECTION SERVICES ULC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TULSA INSPECTION RESOURCES, LLC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TULSA INSPECTION RESOURCES &#150; CANADA ULC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TULSA INSPECTION RESOURCES HOLDINGS, LLC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TULSA INSPECTION
RESOURCES &#150; NONDESTRUCTIVE EXAMINATION, LLC </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>February&nbsp;20, 2015 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AMENDED AND RESTATED OMNIBUS AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This <B>AMENDED AND RESTATED OMNIBUS AGREEMENT</B> is entered into on, and effective as of, the Effective Date (as defined herein) among
Cypress Energy Holdings, LLC, a Delaware limited liability company (&#147;<U>Cypress Holdings</U>&#148;), Cypress Energy Management, LLC, a Delaware limited liability company (&#147;<U>CEM</U>&#148;), Cypress Energy Partners, LLC, a Delaware limited
liability company (the &#147;<U>OLLC</U>&#148;), Cypress Energy Partners, L.P., a Delaware limited partnership (the &#147;<U>Partnership</U>&#148;), Cypress Energy Partners GP, LLC, a Delaware limited liability company (the &#147;<U>General
Partner</U>&#148;), Foley Inspection Services ULC, an Alberta, Canada unlimited liability corporation (&#147;<U>Foley</U>&#148;), Tulsa Inspection Resources, LLC, a Delaware limited liability company (&#147;<U>TIR</U>&#148;), Tulsa Inspection
Resources &#150; Canada ULC, an Alberta, Canada unlimited liability corporation (&#147;<U>TIR Canada</U>&#148;), Tulsa Inspection Resources Holdings, LLC, a Delaware limited liability company (&#147;<U>TIR Holdings</U>&#148;), and Tulsa Inspection
Resources &#150; Nondestructive Examination, LLC, a Delaware limited liability company (&#147;<U>NDE</U>&#148;). The above-named entities are sometimes referred to in this Agreement (as defined herein) each as a &#147;<U>Party</U>&#148; and
collectively as the &#147;<U>Parties</U>.&#148; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>R</U> <U>E</U> <U>C</U> <U>I</U> <U>T</U> <U>A</U> <U>L</U> <U>S</U>: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. The Parties previously entered into that certain Omnibus Agreement (the &#147;<U>Original Agreement</U>&#148;) effective as of the IPO
Closing Date (as defined herein), and the Parties now desire to amend and restate the Original IPO Agreement as provided herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.
Certain of the Parties desire to enter into that certain Contribution Agreement dated as of the date hereof to effect the contribution of the minority interests in TIR, TIR Holdings and NDE to the Partnership. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. The Parties desire by their execution of this Agreement to evidence their understanding, as more fully set forth in <U>Article II</U>, with
respect to certain indemnification obligations of the Parties to each other. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-famil