SEC Contract Filing

Filing Date: 2015-02-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tllpex101.htm
<DESCRIPTION>EXHIBIT 10.1 PERFORMANCE PHANTOM UNIT AGREEMENT
<TEXT>
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<a name="s250A018E2767B46E8AA997D87769312D"></a><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit 10.1</font></div></div><br><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TESORO LOGISTICS LP</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">2011 LONG-TERM INCENTIVE PLAN</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PERFORMANCE PHANTOM UNIT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pursuant to this Performance Phantom Unit Agreement, dated as of [_______], 20__ (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), Tesoro Logistics GP, LLC (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), as the general partner of Tesoro Logistics LP (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Partnership</font><font style="font-family:inherit;font-size:12pt;">&#8221;), hereby grants to [___________] (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Participant</font><font style="font-family:inherit;font-size:12pt;">&#8221;) the following award of Phantom Units (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Phantom Units</font><font style="font-family:inherit;font-size:12pt;">&#8221;), pursuant and subject to the terms and conditions of this Agreement and the Tesoro Logistics LP 2011 Long-Term Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;), the terms and conditions of which are hereby incorporated into this Agreement by reference. Each Phantom Unit shall constitute a Phantom Unit under the terms of the Plan and is hereby granted in tandem with a corresponding DER, as further detailed in Section 3 below. Except as otherwise expressly provided herein, all capitalized terms used in this Agreement, but not defined, shall have the meanings provided in the Plan. </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">GRANT NOTICE</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Subject to the terms and conditions of this Agreement, the principal features of this Award are as follows: </font></div><div style="line-height:120%;padding-top:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Target Number of Phantom Units</font><font style="font-family:inherit;font-size:12pt;">: [________]</font></div><div style="line-height:120%;padding-top:16px;text-align:left;padding-left:161px;text-indent:-115px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Grant Date</font><font style="font-family:inherit;font-size:12pt;">: [________], 20[__]</font></div><div style="line-height:120%;padding-top:16px;text-align:left;padding-left:161px;text-indent:-115px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Performance Period</font><font style="font-family:inherit;font-size:12pt;">: [__________], 20[__] to [__________], 20[__]</font></div><div style="line-height:120%;padding-top:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">DERs</font><font style="font-family:inherit;font-size:12pt;">: Each Phantom Unit granted under this Agreement shall be issued in tandem with a corresponding DER, which shall entitle the Participant to receive payments in an amount equal to Partnership distributions in accordance with Section 3 of this Agreement.</font></div><div style="line-height:120%;padding-top:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1</font></div></div><hr style="page-break-after:always"><a name="s250A01