Energy Transfer 2015 Annual Report Download - page 140

Table of Contents
Tax and Accounting Implications of Equity-Based Compensation Arrangements
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We are a limited partnership and not a corporation for U.S. federal income tax purposes. Therefore, we believe that the compensation paid to the named
executive officers is not subject to the deduction limitations under Section 162(m) of the Internal Revenue Code and therefore is generally fully deductible
for U.S. federal income tax purposes.
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For our unit-based compensation arrangements, including equity-based awards issued to certain of our named executive officers by an affiliate (as discussed
above), we record compensation expense over the vesting period of the awards, as discussed further in Note 9 to our consolidated financial statements.
Compensation Committee Interlocks and Insider Participation
Messrs. Grimm and Skidmore are the only members of the Compensation Committee. During 2015, no member of the Compensation Committee was an
officer or employee of us or any of our subsidiaries or served as an officer of any company with respect to which any of our executive officers served on such
company’s board of directors. In addition, neither Mr. Grimm nor Mr. Skidmore is a former employee of ours or any of our subsidiaries.
Report of Compensation Committee
The Compensation Committee of the board of directors of our General Partner has reviewed and discussed the section entitled “Compensation Discussion and
Analysis” with the management of ETP. Based on this review and discussion, we have recommended to the board of directors of our General Partner that the
Compensation Discussion and Analysis be included in this annual report on Form 10-K.
The Compensation Committee of the
Board of Directors of Energy Transfer Partners, L.L.C., the
general partner of Energy Transfer Partners GP, L.P., the
general partner of Energy Transfer Partners, L.P.
Michael K. Grimm
David K. Skidmore
The foregoing report shall not be deemed to be incorporated by reference by any general statement or reference to this annual report on Form 10-K into any
filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent that we specifically incorporate
this information by reference, and shall not otherwise be deemed filed under those Acts.
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