Sanchez Production Partners LLC 2009 Omnibus Incentive Compensation Plan Award Agreement Relating to Notional Units with DERs - ExecutivesAward Agreement • December 23rd, 2014 • Sanchez Production Partners LLC • Crude petroleum & natural gas • Delaware
Grant. Sanchez Production Partners LLC, a Delaware limited liability company (f/k/a Constellation Energy Partners LLC) (including its successors and assigns, the “Company”), hereby grants to you [●] Notional Units (each, a “Notional Unit”) under the Constellation Energy Partners LLC 2009 Omnibus Incentive Compensation Plan (the “Plan”) on the terms and conditions set forth herein and in the Plan, which is incorporated herein by reference as a part of this agreement (collectively, the “Award Agreement”). The Plan is proposed to be amended and restated and renamed the Sanchez Production Partners LP Long-Term Incentive Plan (the “Amended Plan”) effective as of such time that (collectively, the “Conversion Conditions”) (i) the Amended Plan is approved by the unitholders of the Company and (ii) the conversion of the Company from a limited liability company into a limited partnership (the “Company Conversion”) becomes effective.
