LIMITED LIABILITY COMPANY AGREEMENT OF TEXAS EASTERN PRODUCTS PIPELINE COMPANY, LLCLimited Liability Company Agreement • June 16th, 2006 • Teppco Partners Lp • Wholesale-petroleum bulk stations & terminals • Delaware
This Limited Liability Company Agreement (this “Agreement”) of Texas Eastern Products Pipeline Company, LLC, is entered into by PanEnergy Corp., a Delaware corporation, to hereby form a Delaware limited liability company pursuant to and in accordance with the Delaware Limited Liability Company Act (the “Act”). Accordingly PanEnergy Corp. hereby agrees as follows:
TEXAS EASTERN PRODUCTS PIPELINE COMPANY, LLC 2000 LONG TERM INCENTIVE PLAN AWARD AGREEMENTAward Agreement • June 16th, 2006 • Teppco Partners Lp • Wholesale-petroleum bulk stations & terminals • Texas
THIS AWARD AGREEMENT (this “Agreement”) is made between Texas Eastern Products Pipeline Company, LLC, a Delaware limited liability company (“TEPPCO”),and (INSERT GRANTEE’S NAME) (the “Grantee”) effective as of , (the “Effective Date”). TEPPCO considers that its interests will be served by granting the Grantee long term incentive units under the Texas Eastern Products Pipeline Company, LLC 2000 Long Term Incentive Plan (the “Plan”). The award of long term incentive units granted hereby (the “Award”) is subject to the terms of the Plan, a copy of which is attached hereto and incorporated by reference herein. Terms that are not specifically defined in this Agreement shall have the meanings ascribed to them in the Plan.
TEXAS EASTERN PRODUCTS PIPELINE COMPANY, LLC 2005 PHANTOM UNIT PLAN AWARD AGREEMENTPhantom Unit Award Agreement • June 16th, 2006 • Teppco Partners Lp • Wholesale-petroleum bulk stations & terminals • Texas
THIS AWARD AGREEMENT (this “Agreement”) is made between Texas Eastern Products Pipeline Company, LLC, a Delaware limited liability company (“TEPPCO”), and (the “Grantee”) effective as of , (the “Effective Date”). TEPPCO considers that its interests will be served by granting the Grantee phantom units under the Texas Eastern Products Pipeline Company, LLC 2005 Phantom Unit Plan (the “Plan”) as an inducement for the Grantee to . The award of phantom units granted hereby (the “Award”) is subject to the terms of the Plan, a copy of which is attached hereto and incorporated by reference herein. Terms that are not specifically defined in this Agreement shall have the meanings ascribed to them in the Plan.
SUPPLEMENTAL AGREEMENT No. 2 to EMPLOYMENT AGREEMENTEmployment Agreement • June 16th, 2006 • Teppco Partners Lp • Wholesale-petroleum bulk stations & terminals
This Supplemental Agreement No. 2 supplements and amends that certain Employment Agreement, entered into the th day of , by and between Texas Eastern Products Pipeline Company, LLC (“TEPPCO”) and (“Executive”) and amended February 23, 2005 (the “Agreement”).
