BREITBURN ENERGY PARTNERS L.P. RESTRICTED PHANTOM UNIT AGREEMENTRestricted Phantom Unit Agreement • March 11th, 2008 • BreitBurn Energy Partners L.P. • Crude petroleum & natural gas • Delaware
Pursuant to this Restricted Phantom Unit Agreement, dated as of [DATE] (the “Agreement”), BreitBurn GP, LLC (the “Company”), as the general partner of BreitBurn Energy Partners L.P., a Delaware limited partnership (the “Partnership”), hereby grants to [___________] (the “Participant”) the following award of Restricted Phantom Units (“RPUs”), pursuant and subject to the terms and conditions of this Agreement and the Partnership’s 2006 Long-Term Incentive Plan (the “Plan”), the terms and conditions of which are hereby incorporated into this Agreement by reference. Each RPU 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, including without limitation on Exhibit A hereto, all capitalized terms used in this Agreement, but not defined, shall have the meanings provided in the Plan.
BREITBURN ENERGY PARTNERS L.P. RESTRICTED PHANTOM UNIT AGREEMENTRestricted Phantom Unit Agreement • March 11th, 2008 • BreitBurn Energy Partners L.P. • Crude petroleum & natural gas • Delaware
Pursuant to this Restricted Phantom Unit Agreement, dated as of [DATE] (the “Agreement”), BreitBurn GP, LLC (the “Company”), as the general partner of BreitBurn Energy Partners L.P., a Delaware limited partnership (the“Partnership”), hereby grants to [___________] (the “Participant”) the following award of Restricted Phantom Units (“RPUs”), pursuant and subject to the terms and conditions of this Agreement and the Partnership’s 2006 Long-Term Incentive Plan (the “Plan”), the terms and conditions of which are hereby incorporated into this Agreement by reference. Each RPU 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. For purposes of this Agreement, the terms “Employer,” “Cause,” “Good Reason” and “Disability” shall have the
