REGISTRATION STATEMENT ON FORM S-8
As filed with the Securities and Exchange Commission on November 28, 2007
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Teekay Offshore Partners L.P.
(Exact name of Registrant as specified in its charter)
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Republic of the Marshall Islands
(State or other jurisdiction of incorporation or organization)
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98-051255
(I.R.S. Employer Identification No.) |
Bayside House, Bayside Executive Park
West Bay Street and Blake Road
P.O. Box AP-59212
Nassau, Commonwealth of the Bahamas
(Address of principal executive offices, including zip code)
TEEKAY OFFSHORE PARTNERS L.P.
2006 LONG-TERM INCENTIVE PLAN
(Full title of the plan)
Watson, Farley & Williams (New York) LLP
Attention: Daniel C. Rodgers
100 Park Avenue, 31st Floor
New York, New York 10017
(212) 922-2200
(Name, address and telephone number, including area code, of agent for service)
Copies to:
David Matheson
Danielle Benderly
Perkins Coie LLP
1120 N.W. Couch Street, 10th Floor
Portland, Oregon 97209
(503) 727-2000
CALCULATION OF REGISTRATION FEE
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Proposed Maximum |
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Title of Securities |
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Amount to Be |
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Proposed Maximum |
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Aggregate Offering |
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Amount of |
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to Be Registered |
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Registered (1) |
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Offering Price Per Unit (2) |
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Price (2) |
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Registration Fee |
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Common Units,
under the Teekay
Offshore Partners L.P.
2006 Long-Term
Incentive Plan |
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1,000,000 |
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$24.87 |
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$24,865,000.00 |
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$763.36 |
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(1) |
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Includes an indeterminate number of additional units that may be necessary to adjust
the number of units reserved for issuance pursuant to the plan as the result of any future
distribution, recapitalization, split, reverse split, reorganization or similar adjustment
of the Registrants outstanding Common Units. |
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(2) |
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Estimated as of November 26, 2007 solely for the purpose of calculating the registration
fee pursuant to Rule 457(h)(1) and Rule 457(c) under the Securities Act of 1933, as amended (the
Securities Act). The proposed maximum offering price per unit is estimated to be $24.87, based
on the average of the high sales price ($25.35) and the low sales price ($24.38) for the
Registrants Common Units as reported by the New York Stock Exchange on November 26, 2007. |
TABLE OF CONTENTS
PART II
INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed with the Securities and Exchange Commission (the Commission)
are hereby incorporated by reference in this Registration Statement:
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(a) |
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The Registrants Annual Report on Form 20-F for the year ended December 31,
2006, filed on April 19, 2007, which contains audited consolidated financial statements
of the Registrant; |
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(b) |
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The description of the Registrants Common Units contained in the Registration
Statement on Form 8-A filed on December 7, 2006, under Section 12(b) of the Securities
Exchange Act of 1934, as amended (the Exchange Act), including any amendments or
reports filed for the purpose of updating such description; and |
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(c) |
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All other reports filed by the Registrant pursuant to Sections 13(a) or 15(d)
of the Exchange Act since the end of the period covered by the Annual Report on Form
20-F referenced above. |
All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the
Exchange Act after the date hereof, and prior to the filing of a post-effective amendment which
indicates that the securities offered hereby have been sold or which deregisters the securities
covered hereby then remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the respective dates on which
such documents are filed.
Item 4. DESCRIPTION OF SECURITIES
Not applicable.
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
None.
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Under the partnership agreement, in most circumstances, we must indemnify the following
persons, to the fullest extent permitted by law, from and against all liabilities, costs, expenses,
losses, claims, damages or similar events:
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(1) |
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our general partner; |
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(2) |
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any departing general partner; |
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(3) |
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any person who is or was an affiliate of our general partner or any departing
general partner; |
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(4) |
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any person who is or was a member, partner, director, officer, fiduciary or
trustee of any person described in (1), (2) or (3) above; |
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(5) |
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any person who is or was serving as a director, officer, member, partner,
fiduciary or trustee of another person at the request of our general partner or any
departing general partner; or |
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(6) |
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any person designated by our general partner. |
We must provide this indemnification unless there has been a final and non-appealable judgment
by a court of competent jurisdiction determining that these persons acted in bad faith or engaged
in fraud, willful misconduct or, in the case of a criminal matter, acted with knowledge that the indemnitees
conduct was unlawful.
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Any indemnification under these provisions will only be out of our assets. Unless it otherwise
agrees, the general partner will not be personally liable for, or have any obligation to contribute
or lend funds or assets to us to enable us to effectuate, indemnification. We may purchase
insurance, on behalf of the general partner, its affiliates and such other persons as the general
partner shall determine, against liabilities asserted against and expenses incurred by such persons
in connection with our activities, regardless of whether we would have the power to indemnify the
person against liabilities under the partnership agreement.
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
Item 8. EXHIBITS
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Exhibit Number |
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Description |
5.1 |
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Opinion of Watson, Farley and Williams (New York) LLP regarding legality of the Common Units being registered |
23.1 |
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Consent of Ernst & Young LLP (Independent Registered Public Accounting Firm) |
23.2 |
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Consent of Watson, Farley and Williams (New York) LLP (included in opinion filed as Exhibit 5.1) |
24.1 |
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Power of Attorney (see signature page) |
99.1 |
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Teekay Offshore Partners L.P. 2006 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.2 to the registration statement on Form F-1 filed with the Commission on December 4, 2006) |
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;
(ii) To reflect in the prospectus any facts or events arising after the effective date of this
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 this Registration
Statement; and
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in this Registration Statement or any material change to such information in
this Registration Statement;
provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those paragraphs is contained
in periodic reports filed by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange
Act that are incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment 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.
(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.
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b. The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Registrants annual report pursuant to Section 13(a)
or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefits plans
annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in
this 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 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act 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 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 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 Southport, State of Connecticut, United States of America, on the
28th day of November, 2007.
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TEEKAY OFFSHORE PARTNERS L.P.
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By: |
Teekay Offshore GP L.L.C., |
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its General Partner |
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/s/ PETER EVENSEN
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By: |
Peter Evensen |
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Chief Executive Officer and
Chief Financial Officer |
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POWER OF ATTORNEY
Each person whose signature appears below authorizes Bjorn Moller and Peter Evensen, or either
of them, as attorneys-in-fact with full power of substitution, to execute in the name and on the
behalf of each person, individually and in each capacity stated below, and to file, any and all
amendments to this Registration Statement, including any and all post-effective amendments.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities indicated
below on the 28th day of November,
2007.
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Signature |
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Title |
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/s/ PETER EVENSEN
Peter Evensen |
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Chief Executive Officer, Chief Financial Officer
(Principal Executive, Financial and Accounting Officer)
and Director |
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/s/ C. SEAN DAY
C. Sean Day |
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Director |
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/s/ BJORN MOLLER
Bjorn Moller |
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Director |
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/s/ DAVID L. LEMMON
David L. Lemmon |
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Director |
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/s/ CARL MIKAEL L.L. VON MENTZER
Carl Mikael L.L. von Mentzer |
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Director |
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/s/ JOHN J. PEACOCK
John J. Peacock |
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Director |
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INDEX TO EXHIBITS
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Exhibit Number |
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Description |
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5.1
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Opinion of Watson, Farley and Williams (New York) LLP
regarding legality of the Common Units being registered |
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23.1
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Consent of Ernst & Young LLP (Independent Registered Public
Accounting Firm) |
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23.2
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Consent of Watson, Farley and Williams (New York) LLP
(included in opinion filed as Exhibit 5.1) |
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24.1
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Power of Attorney (see signature page) |
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99.1
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Teekay Offshore Partners L.P. 2006 Long-Term Incentive Plan
(incorporated by reference to Exhibit 10.2 to the
registration statement on Form F-1 filed with the
Commission on December 4, 2006) |
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