SEC Contract Filing

Filing Date: 2015-08-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>mplx-2015630xex102.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<a name="s2B33F7F081288D56692A96F57EB32F1A"></a><div></div><br><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.2</font></div><div style="line-height:120%;padding-top:9px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EXECUTION VERSION</font></div><div style="line-height:120%;padding-top:17px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">LOCK-UP AGREEMENT</font></div><div style="line-height:120%;padding-top:17px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This LOCK-UP AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), dated as of July&#160;11, 2015, is entered into by and among MPLX LP, a Delaware limited partnership (&#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Parent</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;), MPLX GP LLC, a Delaware limited liability company and the general partner of Parent (&#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Parent GP</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;), Sapphire Holdco LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent (&#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Merger Sub</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221; and, with Parent and Parent GP, the &#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Parent Entities</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;), MarkWest Energy Partners, L.P., a Delaware limited partnership (the &#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Partnership</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;), EMG Utica, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">EMG Utica</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;), EMG Utica Condensate, LLC, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">EMG Condensate</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;), and each of the Persons set forth on </font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:10pt;">&#32;&#32;hereto (each, a &#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Unitholder</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;). All terms used but not otherwise defined in this Agreement shall have the respective meanings ascribed to such terms in the Merger Agreement (as defined below).</font></div><div style="line-height:120%;padding-top:17px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, as of the date hereof, each Unitholder is the record and beneficial owner (as defined in Rule 13d-3 under the Exchange Act, including all securities as to which such Person has the right to acquire, without regard to the 60-day period set forth in such rule) of the number of Common Units and Class B Units set forth opposite such Unitholder&#8217;s name on</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:10pt;">&#32;; and</font></div><div style="line-height:120%;padding-top:17px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, concurrently with the execution and delivery hereof, the Parent Entities, Marathon Petroleum Corporation, a Delaware corporation and the ultimate parent of Parent GP, and the Partnership are entering into an Agreement and Plan of Merger (as it may be amended pursuant to the terms thereof, the &#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Merger Agreement</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;), which provides, among other things, for the merger of Merger Sub with and into the Partnership, upon the terms and subject to the conditions set forth therein (the &#8220;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Merger</font><font style="font-family:inherit;font-size:10pt;">&#32;&#8221;) in accordance with the DRULPA, w