Spectra Energy Partners, LP | 2013 | FY | 3

The general partner holds incentive distribution rights beyond the first target distribution in accordance with the partnership agreement as follows:
 
Total Quarterly Distribution
 
Marginal Percentage
Interest in Distributions
 
Target Per-Unit Amount
 
Common
Unitholders
 
General
Partner
Minimum Quarterly Distribution
$0.30
 
98
%
 
2
%
First Target Distribution
up to $0.345
 
98
%
 
2
%
Second Target Distribution
above $0.345 up to $0.375
 
85
%
 
15
%
Third Target Distribution
above $0.375 up to $0.45
 
75
%
 
25
%
Thereafter
above $0.45
 
50
%
 
50
%

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