• No se han encontrado resultados

RÉGIMEN DE RECURSOS CONTRA LA DOCUMENTACIÓN QUE RIGE LA CONTRATACIÓN

M. ADSCRIPCIÓN OBLIGATORIA DE MEDIOS

8. RÉGIMEN DE RECURSOS CONTRA LA DOCUMENTACIÓN QUE RIGE LA CONTRATACIÓN

For a discussion of director independence, see Item 10. "Directors, Executive Officers and Corporate Governance." In this Item 13, all amounts of our units reflect the second quarter 2014 two-for-one split of our units. See Note 12 to our consolidated financial statements for fiscal 2014 for additional detail regarding the unit split.

On October 5, 2012, Sunoco, Inc. ("Sunoco") was acquired by Energy Transfer Partners, L.P. ("ETP"). Prior to this transaction, Sunoco (through its wholly-owned subsidiary Sunoco Partners LLC) served as the Partnership's general partner and owned a two percent general partner interest, all of the Partnership's incentive distribution rights and a 32.4 percent limited partner interest in the Partnership. In connection with the acquisition, Sunoco's interests in the general partner and limited partnership were contributed to ETP, resulting in a change of control of the Partnership's general partner. As a result, the Partnership became a consolidated subsidiary of ETP on the acquisition date.

In July 2013, the limited liability company agreement of Sunoco Partners LLC was amended to reflect the addition of ETE Common Holdings, LLC ("ETE Holdings") as an owner of a 0.1 percent membership interest in our general partner. ETE Holdings is a wholly-owned subsidiary of Energy Transfer Equity, L.P. and an affiliate of ETP. In addition, the 67.1 million common units in us owned by Sunoco Partners LLC were assigned to ETP.

As of February 25, 2015, ETP, the controlling owner of our general partner, owns a 30.5 percent partnership interest in us, which includes a 1.8 percent general partner interest (through its controlled subsidiary Sunoco Partners LLC) and 67.1 million common units, representing a 28.7 percent limited partner interest in us. The general partner's ability to manage and operate us effectively gives the general partner the ability to control us.

Distribution and Payments to the General Partner and Its Affiliates

The following table summarizes the distribution and payments made and to be made by us to the general partner and its affiliates in connection with the ongoing operation and in the case of liquidation. These distributions and payments were determined by and among affiliated entities and, consequently, are not the result of arm's-length negotiations.

Operational Stage Payments to the general partner and

its affiliates We paid the general partner an administrative fee, $12 million for the year endedDecember 31, 2014, for the provision of various general and administrative services for our benefit. In addition, the general partner is entitled to reimbursement for all expenses it incurs on our behalf, including other general and administrative expenses. These reimbursable expenses include the salaries and the cost of employee benefits of employees of the general partner who provide services to us. The general partner has sole discretion in determining the amount of these expenses.

Removal or withdrawal of the general

partner If our general partner withdraws or is removed, its general partner interest and itsincentive distribution rights will either be sold to the new general partner for cash or converted into common units, in each case for an amount equal to the fair market value of those interests as provided in the Partnership Agreement

Liquidation Stage

Liquidation Upon liquidation, the partners, including our general partner, will be entitled to receive liquidating distributions according to their particular capital account balances. Concurrently with and subsequent to the closing of the February 2002 IPO, we entered into several agreements with Sunoco, Inc. (R&M), and/or one or more of its affiliates. Some of these agreements have expired, been assigned and been extended or replaced. These agreements include the Omnibus Agreement, the Inter-Refinery Pipeline Lease Agreement, an intellectual property license agreement, various pipeline and terminal storage and throughput service agreements, certain crude oil purchase and sale agreements, various asset acquisition agreements, and other agreements. The material agreements that are still outstanding are discussed in more detail under "Management's Discussion and Analysis of Financial Condition and Results

Approval and Review of Related Party Transactions

Our Partnership Agreement and the Omnibus Agreement each contain provisions for our Conflicts Committee, comprised of our general partner's independent directors, to review transactions with related parties. In some cases, review is required and in others, it is at the discretion of our general partner. Generally, transactions with related parties that are material to us are referred to the Conflicts Committee for review and approval. In determining materiality, our general partner evaluates several factors including the term of the transaction, the capital investment required, and the revenues expected from the transaction.

With respect to other related party transactions, we have in place a Code of Business Conduct and Ethics that is applicable to all directors, officers and employees of the Partnership and its subsidiaries and affiliates, a Code of Ethics for Senior Officers of the Partnership and its subsidiaries and affiliates, and a Conflict of Interest Policy applicable to all directors, officers and employees of the Partnership and its subsidiaries and affiliates. Each of these policies requires the approval by a supervisor, officer, or the Board, prior to entering into any related party transaction that could present a potential conflict of interest. Each of the Partnership Agreement, Code of Business Conduct and Ethics, and Code of Ethics for Senior Officers is publicly available on our website.

Documento similar