sv8
As filed with the Securities and Exchange Commission on November 23, 2010
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
ENTERPRISE PRODUCTS PARTNERS L.P.
(Exact name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction of incorporation or organization)
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76-0568219
(I.R.S. Employer Identification No.) |
1100 Louisiana St., Suite 1000
Houston, Texas 77002
(Address of principal executive offices and zip code)
Enterprise Products Company 2005 EPE Long-Term Incentive Plan
(Full title of the plan)
Stephanie C. Hildebrandt
1100 Louisiana St., Suite 1000
Houston, Texas 77002
(713) 381-6500
(Name, address and telephone number, including area code, of agent for service)
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated filer, or a smaller reporting company. See the definitions of large accelerated
filer, accelerated filer and smaller reporting company in Rule 12b-2 of the Exchange Act.
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Large accelerated filer þ
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Accelerated filer o
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Non-accelerated filer o
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Smaller reporting company o |
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(Do not check if a smaller reporting company) |
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CALCULATION OF REGISTRATION FEE
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Proposed maximum |
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Proposed maximum |
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Amount to be |
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aggregate offering |
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aggregate offering |
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Amount of |
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Title of securities to be registered |
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registered (1) |
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price per share (2) |
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price (2) |
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registration fee |
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Common units representing limited
partner interests (3) |
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135,000 |
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$42.42 |
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$5,726,700 |
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$409 |
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(1) |
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Pursuant to Rule 416(a) of the Securities Act of 1933, as amended, there is also being
registered such additional number of common units as may be required because of events such as
recapitalizations, stock dividends, stock splits or similar transactions effected without the
receipt of consideration that increases the number of outstanding common units. |
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(2) |
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Estimated solely for the purpose of determining the amount of the registration fee in
accordance with Rule 457(c) and (h) under the Securities Act of 1933, as amended and based on
the average of the high and low prices of the common units as reported by the New York Stock
Exchange on November 16, 2010. |
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(3) |
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This Registration Statement on Form S-8 relates to 135,000 common units representing limited
partner interests of the registrant that may be issued under the Enterprise Products Company 2005
EPE Long-Term Incentive Plan by Enterprise Products Partners L.P. to holders of outstanding unit
appreciation rights granted by Enterprise GP Holdings L.P. based on a 1.50 exchange ratio. |
TABLE OF CONTENTS
INTRODUCTORY STATEMENT
Enterprise Products Partners L.P. (the Partnership) is filing this registration statement on
Form S-8 relating to its common units representing limited partner interests in the Partnership
(Common Units) that may be offered and sold pursuant to the Enterprise Products Company 2005 EPE
Long-Term Incentive Plan (the Plan).
On November 22, 2010, pursuant to the Agreement and Plan of Merger (the Merger Agreement),
dated as of September 3, 2010, by and among the Partnership, Enterprise Products GP, LLC, a
Delaware limited liability company, Enterprise ETE LLC, a Delaware limited liability company and a
wholly owned subsidiary of the Partnership (MergerCo), Enterprise GP Holdings L.P., a Delaware
limited partnership (Holdings), and EPE Holdings, LLC, a Delaware limited liability company,
Holdings merged with and into MergerCo, with MergerCo as the surviving entity (the Merger). Under
the terms of the Merger Agreement, all outstanding units representing limited partner interests in
Holdings (the Holdings units) were cancelled and converted into the right to receive Common Units
based on an exchange ratio of 1.50 Common Units per Holdings unit.
At the effective time of the Merger, each outstanding Unit Appreciation Right (Holdings UAR),
both granted pursuant to the Plan and outside the Plan, was assumed by the Partnership and
converted into a number of Common Unit Appreciate Rights (CUARs) of the Partnership equal to the
product of the number of Holdings UARs to which each grant was subject at the time of the
assumption multiplied by 1.50, with an exercise price per CUAR equal to the per Holdings UAR
exercise price divided by 1.50.
PART I.
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Note: The document(s) containing the employee benefit plan information required by Item 1 of
Form S-8 and the statement of availability of registrant information and any other information
required by Item 2 of Form S-8 will be sent or given to participants as specified by Rule 428 under
the Securities Act of 1933, as amended (the Securities Act). In accordance with Rule 428 and the
requirements of Part I of Form S-8, such documents are not being filed with the Securities and
Exchange Commission (the Commission) either as part of this registration statement or as
prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. The
registrant shall maintain a file of such documents in accordance with the provisions of Rule 428.
Upon request, the registrant shall furnish to the Commission or its staff a copy or copies of all
of the documents included in such file.
PART II.
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
Enterprise Products Partners L.P. (the Partnership) incorporates by reference in this
registration statement the following documents and information previously filed with the
Commission:
1. The Partnerships Annual Report on Form 10-K for the fiscal year ended December 31,
2009;
2. The Partnerships Quarterly Reports on Form 10-Q for the quarters ended March 31, 2010,
June 30, 2010, and September 30, 2010;
3. The Partnerships Current Reports on Form 8-K and 8-K/A filed on January 4, 2010,
January 8, 2010, February 26, 2010, March 8, 2010, March 29, 2010, April 1, 2010, April 15,
2010, May 17, 2010, May 20, 2010, May 21, 2010, June 3, 2010, August 23, 2010, September 7,
2010, September 28, 2010, October 1, 2010, October 14,
2010, October 26, 2010, November 9, 2010 and November 23, 2010; and
4. The description of the Partnerships common units contained in the Partnerships
Registration Statement on Form 8-A/A (File No. 001-14323) as filed by the Partnership with the
Commission on November 23, 2010, and any amendment or report filed for the purpose of
updating that description.
All documents filed with the Securities and Exchange Commission (the Commission) by the
Partnership pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934,
as amended (excluding any information furnished pursuant to Item 2.02 and Item 7.01 on any Current
Report on Form 8-K), subsequent to the date of this registration statement and prior to the filing
of a post-effective amendment to this registration statement which indicates that all securities
offered have been sold, or which deregisters all securities then remaining unsold, shall be deemed
to be incorporated by reference in this registration statement and to be a part hereof from the
date of filing of such documents.
Any statement contained herein or in a document incorporated or deemed to be incorporated
herein by reference shall be deemed to be modified or superseded for purposes of this registration
statement to the extent that a statement contained herein or in any subsequently filed document
that also is, or is deemed to be, incorporated by reference herein modifies or supersedes such
statement. Any such statement so modified or superseded shall not be deemed, except as so modified
or superseded, to constitute a part of this registration statement.
Item 4. Description of Securities.
Not Applicable.
Item 5. Interests of Named Experts and Counsel.
Not Applicable.
Item 6. Indemnification of Directors and Officers.
Section 17-108 of the Delaware Revised Uniform Limited Partnership Act empowers a Delaware
limited partnership to indemnify and hold harmless any partner or other person from and against all
claims and demands whatsoever. The Partnerships partnership agreement provides that the
Partnership will indemnify (i) its general partner, (ii) any departing general partner, (iii) any
person who is or was an affiliate of the general partner or any departing general partner, (iv) any
person who is or was a member, partner, officer, director, employee, agent or trustee of the
general partner or any affiliate of the general partner or any departing general partner or
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(v) any person who is or was serving at the request of the general partner or any departing
general partner or any affiliate of any such person, any affiliate of the general partner or any fiduciary or trustee of another person (each, a Partnership Indemnitee), to the
fullest extent permitted by law, from and against any and all losses, claims, damages, liabilities
(joint or several), expenses (including, without limitation, legal fees and expenses), judgments,
fines, penalties, interest, settlements and other amounts arising from any and all claims, demands,
actions, suits or proceedings, whether civil, criminal, administrative or investigative, in which
any Partnership Indemnitee may be involved, or is threatened to be involved, as a party or
otherwise, by reason of its status as a Partnership Indemnitee; provided that in each case the
Partnership Indemnitee acted in good faith and in a manner that such Partnership Indemnitee
reasonably believed to be in or not opposed to the best interests of the Partnership and, with respect to any criminal proceeding, had
no reasonable cause to believe its conduct was unlawful. The termination of any action, suit or
proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere, or its
equivalent, shall not create a presumption that the Partnership Indemnitee acted in a manner
contrary to that specified above. Any indemnification under these provisions will be made only out
of the assets of the Partnership, and the general partner shall not be personally liable for, or
have any obligation to contribute or lend funds or assets to the Partnership to enable it to
effectuate, such indemnification. The Partnership is authorized to purchase (or to reimburse the
general partner or its affiliates for the cost of) insurance against liabilities asserted against
and expenses incurred by such persons in connection with the Partnerships activities, regardless
of whether the Partnership would have the power to indemnify such person against such liabilities
under the provisions of the Partnerships partnership agreement.
Section 18-108 of the Delaware Limited Liability Company Act provides that, subject to such
standards and restrictions, if any, as are set forth in its limited liability company agreement, a
Delaware limited liability company may, and shall have the power to, indemnify and hold harmless
any member or manager or other person from and against any and all claims and demands whatsoever.
The limited liability company agreement of the general partner of the Partnership provides for the
indemnification of (i) present or former members of the Board of Directors of the general partner
or any committee thereof, (ii) present or
former officers, employees, partners, agents or trustees of the
general partner or (iii) persons serving at the request of the general
partner in another entity in a similar capacity as that referred to in the immediately preceding
clauses (i) or (ii) (each, a General Partner Indemnitee) to the fullest extent permitted by law,
from and against any and all losses, claims, damages, liabilities, joint or several, expenses
(including reasonable legal fees and expenses), judgments, fines, penalties, interest, settlements
and other amounts arising from any and all claims, demands, actions, suits or proceedings, whether
civil, criminal, administrative or investigative, in which any such person may be involved, or is
threatened to be involved, as a party or otherwise, by reason of such persons status as a General
Partner Indemnitee; provided, that in each case, the General Partner Indemnitee acted in good faith and in a manner which such General Partner
Indemnitee believed to be in, or not opposed to, the best interests of the general partner and, with respect to any criminal proceeding, had no reasonable cause to believe such General Partner Indemnitees conduct was unlawful. The termination of any action, suit or
proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere, or its
equivalent, shall not create a presumption that the General Partner Indemnitee acted in a manner
contrary to that specified above. Any indemnification pursuant to these provisions shall be made only out of the assets of
the general partner. The general partner is authorized to purchase and maintain insurance, on
behalf of the members of its Board of Directors, its officers and such other persons as the Board
of Directors may determine, against any liability that may be asserted against or expense that may
be incurred by such person in connection with the activities of the general partner, regardless of
whether the general partner would have the power to indemnify such person against such liability
under the provisions of its limited liability company agreement.
Insofar as indemnification for liabilities arising under the Securities Act of 1933, as
amended, may be permitted to directors, officers or persons controlling the Partnership or its
general partner as set forth above, the Partnership and its general partner have been informed that
in the opinion of the Commission such indemnification is against public policy as expressed in the
Securities Act and is therefore unenforceable.
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The general partner of the Partnership and its affiliates maintain liability insurance
covering the officers and directors of the general partner against some liabilities, including
certain liabilities under the Securities Act, that may be incurred by them.
Item 7. Exemption from Registration Claimed.
Not Applicable.
Item 8. Exhibits.
The following documents are filed as a part of this registration statement or incorporated by
reference herein:
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Exhibit |
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Number |
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Description |
4.1*
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Enterprise Products Company 2005 EPE Long-Term Incentive Plan (amended and restated as of
February 23, 2010) (incorporated by reference to Exhibit 10.1 to Form 8-K filed by
Enterprise GP Holdings L.P. (File No. 001-32610) on February 26, 2010). |
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4.2*
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Form of Unit Appreciation Right Grant (Enterprise Products GP, LLC Directors) under the
Enterprise Products Company 2005 EPE Long-Term Incentive Plan (incorporated by reference to
Exhibit 10.3 to Form 8-K filed by Enterprise GP Holdings L.P. (File No. 001-32610) on May
8, 2006). |
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5.1
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Opinion of Andrews Kurth LLP as to the validity of the securities being registered. |
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23.1
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Consent of Deloitte & Touche LLP. |
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23.2
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Consent of Grant Thornton LLP. |
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23.3
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Consent of Andrews Kurth LLP (included in Exhibit 5.1). |
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24.1
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Power of Attorney (set forth in the signature page contained in Part II of this
Registration Statement). |
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Incorporated herein by reference as indicated |
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act of
1933;
(ii) To reflect in the prospectus any facts or events arising after the effective date
of the registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement;
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such
information in the registration statement;
Provided, however, That paragraphs (a)(1)(i) and (a)(1(ii) of this section do not apply if
the registration statement is on Form S-8, and the information required to be included in a
post-effective amendment by those paragraphs is contained in reports filed with or
furnished to the Commission by the registrant pursuant to Section 13 or Section 15(d) of
the Securities Exchange Act of 1934 that are incorporated by reference in the registration
statement.
(2) That, for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration statement relating
to the securities
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offered therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the registrants annual report
pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where
applicable, each filing of an employee benefit plans annual report pursuant to Section 15(d)
of the Securities Exchange Act of 1934) that is incorporated by reference in the registration
statement shall be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
provisions described under Item 6 above, or otherwise, the registrant has been advised that in the
opinion of the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the registrant of expenses
incurred or paid by a director, officer or controlling person of the registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public policy
as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such
issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the city of Houston, State of Texas, on November 23, 2010.
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ENTERPRISE PRODUCTS PARTNERS, L.P.
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By: |
Enterprise Products Holdings LLC, its general partner (formerly named EPE Holdings, LLC)
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By: |
/s/ Michael J. Knesek
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Michael J. Knesek |
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Senior Vice President, Controller and Principal
Accounting Officer of Enterprise Products
Holdings LLC |
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POWER OF ATTORNEY
KNOW ALL BY THESE PRESENTS, that each person whose signature appears below constitutes and
appoints Michael A. Creel, Stephanie C. Hildebrandt and W. Randall Fowler and each of them, any of
whom may act without joinder of the others, his or her lawful attorneys-in-fact and agents, with
full power of substitution and resubstitution, for him or her and in his or her name, place and
stead, in any and all capacities, to sign any or all amendments (including post-effective
amendments) to this registration statement and to file the same with all exhibits thereto and other
documents in connection therewith, with the Securities and Exchange Commission, granting unto such
attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and
every act and thing requisite and necessary to be done in and about the premises as fully to all
intents and purposes as he or she might or could do in person, hereby ratifying and confirming all
said attorneys-in-fact and agents, and each of them, or the substitute or substitutes of any of
them, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, as amended, this registration
statement has been signed below by the following persons in the capacities and on the dates
indicated below.
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Title (within Enterprise |
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Signature |
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Products Holdings LLC) |
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Date |
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/s/ Michael A. Creel
Michael A. Creel
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Director, President and
Chief Executive Officer
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November 23, 2010 |
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(Principal Executive Officer) |
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/s/ W. Randall Fowler
W. Randall Fowler
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Executive Vice President and
Chief Financial Officer
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November 23, 2010 |
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(Principal Financial Officer) |
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/s/ A. James Teague
A. James Teague
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Director, Executive Vice
President and Chief
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November 23, 2010 |
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Operating Officer |
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/s/ Michael J. Knesek
Michael J. Knesek
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Senior Vice President,
Controller and Principal
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November 23, 2010 |
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Accounting Officer |
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/s/ E. William Barnett
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Director
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November 23, 2010 |
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E. William Barnett |
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/s/ Charles M. Rampacek
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Director
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November 23, 2010 |
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Charles M. Rampacek |
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Title (within Enterprise |
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Signature |
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Products Holdings LLC) |
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Date |
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/s/ Rex C. Ross
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Director
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November 23, 2010 |
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Rex C. Ross |
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/s/ Randa Duncan Williams
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Director
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November 23, 2010 |
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Randa Duncan Williams |
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/s/ Dr. Ralph S. Cunningham
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Director
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November 23, 2010 |
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Dr. Ralph S. Cunningham |
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/s/ Richard H. Bachmann
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Director
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November 23, 2010 |
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Richard H. Bachmann |
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/s/ Thurmon M. Andress
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Director
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November 23, 2010 |
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Thurmon M. Andress |
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/s/ Charles E. McMahen
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Director
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November 23, 2010 |
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Charles E. McMahen |
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/s/ Edwin E. Smith
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Director
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November 23, 2010 |
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Edwin E. Smith |
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EXHIBIT INDEX
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Exhibit |
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Number |
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Description |
4.1*
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Enterprise Products Company 2005 EPE Long-Term Incentive Plan (amended and restated as of
February 23, 2010) (incorporated by reference to Exhibit 10.1 to Form 8-K filed by
Enterprise GP Holdings L.P. (File No. 001-32610) on February 26, 2010). |
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4.2*
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Form of Unit Appreciation Right Grant (Enterprise Products GP, LLC Directors) under the
Enterprise Products Company 2005 EPE Long-Term Incentive Plan (incorporated by reference to
Exhibit 10.3 to Form 8-K filed by Enterprise GP Holdings L.P. (File No. 001-32610) on May
8, 2006). |
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5.1
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Opinion of Andrews Kurth LLP as to the validity of the securities being registered. |
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23.1
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Consent of Deloitte & Touche LLP. |
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23.2
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Consent of Grant Thornton LLP. |
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23.3
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Consent of Andrews Kurth LLP (included in Exhibit 5.1). |
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24.1
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Power of Attorney (set forth in the signature page contained in Part II of this
Registration Statement). |
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* |
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Incorporated herein by reference as indicated |