Exhibit 10.7

   

  

  INDEMNIFICATION
        AGREEMENT

   

  This
      Indemnification Agreement (this “Agreement”) is entered into as of October 21, 2021 (the “Effective
        Date”) by and between Aris Water Solutions, Inc., a Delaware corporation (the “Company”), and Debra
      Coy (the “Indemnitee”).

   

  RECITALS

   

  WHEREAS,
      the Board of Directors (the “Board”) has determined that the inability to attract and retain qualified persons
      as directors and officers is detrimental to the best interests of the Company’s stockholders and that the Company should
      act to assure such persons that there shall be adequate certainty of protection through insurance and indemnification against
      risks of claims and actions against them arising out of their service to and activities on behalf of the Company;

   

  WHEREAS,
      the Company has adopted provisions in its Bylaws providing for indemnification and advancement of expenses of its directors and
      officers to the fullest extent authorized by the General Corporation Law of the State of Delaware (the “DGCL”),
      and the Company wishes to clarify and enhance the rights and obligations of the Company and the Indemnitee with respect to indemnification
      and advancement of expenses;

   

  WHEREAS,
      in order to induce and encourage highly experienced and capable persons such as the Indemnitee to serve and continue to serve
      as directors and officers of the Company and in any other capacity with respect to the Company as the Company may request, and
      to otherwise promote the desirable end that such persons shall resist what they consider unjustified lawsuits and claims made
      against them in connection with the good faith performance of their duties to the Company, with the knowledge that certain costs,
      judgments, penalties, fines, liabilities, and expenses incurred by them in their defense of such litigation are to be borne by
      the Company and they shall receive appropriate protection against such risks and liabilities, the Board has determined that the
      following Agreement is reasonable and prudent to promote and ensure the best interests of the Company and its stockholders; and

   

  WHEREAS,
      the Company desires to have the Indemnitee continue to serve as a director or officer of the Company and in any other capacity
      with respect to the Company as the Company may request, as the case may be, free from undue concern for unpredictable, inappropriate,
      or unreasonable legal risks and personal liabilities by reason of the Indemnitee acting in good faith in the performance of the
      Indemnitee’s duty to the Company; and the Indemnitee desires to continue so to serve the Company, provided, and on
      the express condition, that he or she is furnished with the protections set forth hereinafter.

   

  

  
     

    
      

    

  

   

  AGREEMENT

   

  NOW,
      THEREFORE, in consideration of the Indemnitee’s continued service as a director or officer of the Company, the parties hereto
      agree as follows:

   

  1.            Definitions. For purposes of this Agreement:

   

  (a)           A “Change in Control” will
      be deemed to have occurred if, with respect to any particular 24-month period, the individuals who, at the beginning of such 24-month
      period, constituted the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority
      of the Board; provided, however, that any individual becoming a director subsequent to the beginning of such 24-month
      period whose election, or nomination for election by the stockholders of the Company, was approved by a vote of at least a majority
      of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent
      Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual
      or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation
      of proxies or consents by or on behalf of a person other than the Board.

   

  (b)           “Disinterested Director” means
      a director of the Company who is not or was not a party to the Proceeding in respect of which indemnification is being sought
      by the Indemnitee.

   

  (c)           “Expenses” includes, without
      limitation, expenses incurred in connection with the defense or settlement of any action, suit, arbitration, alternative dispute
      resolution mechanism, investigation, inquiry, judicial, administrative, or legislative hearing, or any other threatened, pending,
      or completed proceeding, whether brought by or in the right of the Company or otherwise, including any and all appeals, whether
      of a civil, criminal, administrative, legislative, investigative, or other nature, attorneys’ fees, witness fees and expenses,
      fees and expenses of accountants and other advisors, retainers and disbursements and advances thereon, the premium, security for,
      and other costs relating to any bond (including cost bonds, appraisal bonds, or their equivalents), and any expenses of establishing
      a right to indemnification or advancement under Sections 9, 11, 13, and 16 hereof, but shall not include the amount of judgments,
      fines, ERISA excise taxes, or penalties actually levied against the Indemnitee, or any amounts paid in settlement by or on behalf
      of the Indemnitee.

   

  (d)           “Independent Counsel” means
      a law firm or a member of a law firm that neither is presently nor in the past five years has been retained to represent (i) the
      Company or the Indemnitee in any matter material to either such party or (ii) any other party to the Proceeding giving rise
      to a request for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not
      include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest
      in representing either the Company or the Indemnitee in an action to determine the Indemnitee’s right to indemnification
      under this Agreement.

   

  (e)           “Proceeding” means any action,
      suit, arbitration, alternative dispute resolution mechanism, investigation, inquiry, judicial, administrative, or legislative
      hearing, or any other threatened, pending, or completed proceeding, whether brought by or in the right of the Company or otherwise,
      including any and all appeals, whether of a civil, criminal, administrative, legislative, investigative, or other nature, to which
      the Indemnitee was or is a party or is threatened to be made a party or is otherwise involved in by reason of the fact that the
      Indemnitee is or was a director, officer, employee, agent, or trustee of the Company or while a director, officer, employee, agent,
      or trustee of the Company is or was serving at the request of the Company as a director, officer, employee, agent, or trustee
      of another corporation or of a partnership, joint venture, trust, or other enterprise, including service with respect to an employee
      benefit plan, or by reason of anything done or not done by the Indemnitee in any such capacity, whether or not the Indemnitee
      is serving in such capacity at the time any expense, liability, or loss is incurred for which indemnification or advancement can
      be provided under this Agreement.

   

  

  
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  2.            Service by the Indemnitee. The Indemnitee
      shall serve and/or continue to serve as a director or officer of the Company faithfully and to the best of the Indemnitee’s
      ability so long as the Indemnitee is duly elected or appointed and until such time as the Indemnitee’s successor is elected
      and qualified or the Indemnitee is removed as permitted by applicable law or tenders a resignation in writing.

   

  3.            Indemnification and Advancement of Expenses.
      The Company shall indemnify and hold harmless the Indemnitee, and shall pay to the Indemnitee in advance of the final disposition
      of any Proceeding all Expenses incurred by the Indemnitee in defending any such Proceeding, to the fullest extent authorized by
      the DGCL, as the same exists or may hereafter be amended, all on the terms and conditions set forth in this Agreement. Without
      diminishing the scope of the rights provided by this Section, the rights of the Indemnitee to indemnification and advancement
      of Expenses provided hereunder shall include but shall not be limited to those rights hereinafter set forth, except that no indemnification
      or advancement of Expenses shall be paid to the Indemnitee:

   

  (a)           to the extent expressly prohibited by applicable
      law or the Bylaws of the Company;

   

  (b)           for and to the extent that payment is actually
      made to the Indemnitee under a valid and collectible insurance policy or under a valid and enforceable indemnity clause, provision
      of the certificate of incorporation or bylaws, or agreement of the Company or any other company or other enterprise (and the Indemnitee
      shall reimburse the Company for any amounts paid by the Company and subsequently so recovered by the Indemnitee), except with
      respect to any excess beyond the amount actually paid to the Indemnitee under any insurance policy, provision of the certificate
      of incorporation or bylaws, or other agreement; or

   

  (c)           in connection with an action, suit, or proceeding,
      or part thereof voluntarily initiated by the Indemnitee (including claims and counterclaims, whether such counterclaims are asserted
      by (i) the Indemnitee, or (ii) the Company in an action, suit, or proceeding initiated by the Indemnitee), except a judicial proceeding
      or arbitration pursuant to Section 11 to enforce rights under this Agreement, unless the action, suit, or proceeding, or
      part thereof, was authorized or ratified by the Board of Directors of the Company or the Board of Directors otherwise determines
      that indemnification or advancement of Expenses is appropriate.

   

  4.            Action or Proceedings Other than an Action
        by or in the Right of the Company. Except as limited by Section 3 above, the Indemnitee shall be entitled to the indemnification
      rights provided in this Section if the Indemnitee was or is a party or is threatened to be made a party to, or was or is otherwise
      involved in, any Proceeding (other than an action by or in the right of the Company) by reason of the fact that the Indemnitee
      is or was a director, officer, employee, agent, or trustee of the Company or while a director, officer, employee, agent, or trustee
      of the Company is or was serving at the request of the Company as a director, officer, employee, agent, or trustee of another
      corporation or of a partnership, joint venture, trust, or other enterprise, including service with respect to an employee benefit
      plan, or by reason of anything done or not done by the Indemnitee in any such capacity. Pursuant to this Section, the Indemnitee
      shall be indemnified against all expense, liability, and loss (including judgments, fines, ERISA excise taxes, penalties, amounts
      paid in settlement by or on behalf of the Indemnitee, and Expenses) actually and reasonably incurred by the Indemnitee in connection
      with such Proceeding, if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to be in or not
      opposed to the best interests of the Company, and with respect to any criminal Proceeding, had no reasonable cause to believe
      his or her conduct was unlawful.

   

  

  
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  5.            Indemnity in Proceedings by or in the Right
        of the Company. Except as limited by Section 3 above, the Indemnitee shall be entitled to the indemnification rights
      provided in this Section if the Indemnitee was or is a party or is threatened to be made a party to, or was or is otherwise involved
      in, any Proceeding brought by or in the right of the Company to procure a judgment in its favor by reason of the fact that the
      Indemnitee is or was a director, officer, employee, agent, or trustee of the Company or while a director, officer, employee, agent,
      or trustee of the Company is or was serving at the request of the Company as a director, officer, employee, agent, or trustee
      of another corporation or of a partnership, joint venture, trust, or other enterprise, including service with respect to an employee
      benefit plan, or by reason of anything done or not done by the Indemnitee in any such capacity. Pursuant to this Section, the
      Indemnitee shall be indemnified against all expense, liability, and loss (including judgments, fines, ERISA excise taxes, penalties,
      amounts paid in settlement by or on behalf of the Indemnitee, and Expenses) actually and reasonably incurred by the Indemnitee
      in connection with such Proceeding if the Indemnitee acted in good faith and in a manner the Indemnitee reasonably believed to
      be in or not opposed to the best interests of the Company; provided, however, that no such indemnification shall
      be made in respect of any claim, issue, or matter as to which the DGCL expressly prohibits such indemnification by reason of any
      adjudication of liability of the Indemnitee to the Company, unless and only to the extent that the Court of Chancery of the State
      of Delaware or the court in which such Proceeding was brought shall determine upon application that, despite the adjudication
      of liability but in view of all the circumstances of the case, the Indemnitee is entitled to indemnification for such expense,
      liability, and loss as such court shall deem proper.

   

  6.            Indemnification for Costs, Charges, and Expenses
        of Successful Party. Notwithstanding any limitations of Sections 3(c), 4 and 5 above, to the extent that the Indemnitee
      has been successful, on the merits or otherwise, in whole or in part, in defense of any Proceeding, or in defense of any claim,
      issue, or matter therein, including, without limitation, the dismissal of any action without prejudice, or if it is ultimately
      determined, by final judicial decision of a court of competent jurisdiction from which there is no further right to appeal, that
      the Indemnitee is otherwise entitled to be indemnified against Expenses, the Indemnitee shall be indemnified against all Expenses
      actually and reasonably incurred by the Indemnitee in connection therewith.

   

  7.            Partial Indemnification. If the Indemnitee
      is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the expense, liability,
      and loss (including judgments, fines, ERISA excise taxes, penalties, amounts paid in settlement by or on behalf of the Indemnitee,
      and Expenses) actually and reasonably incurred in connection with any Proceeding, or in connection with any judicial proceeding
      or arbitration pursuant to Section 11 to enforce rights under this Agreement, but not, however, for all of the total amount
      thereof, the Company shall nevertheless indemnify the Indemnitee for the portion of such expense, liability, and loss actually
      and reasonably incurred to which the Indemnitee is entitled.

   

  

  
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  8.            Indemnification for Expenses of a Witness.
      Notwithstanding any other provision of this Agreement, to the maximum extent permitted by the DGCL, the Indemnitee shall be entitled
      to indemnification against all Expenses actually and reasonably incurred by the Indemnitee or on the Indemnitee’s behalf
      if the Indemnitee appears as a witness or otherwise incurs legal expenses as a result of or related to the Indemnitee’s
      service as a director or officer of the Company, in any threatened, pending, or completed action, suit, arbitration, alternative
      dispute resolution mechanism, investigation, inquiry, judicial, administrative, or legislative hearing, or any other threatened,
      pending, or completed proceeding, whether of a civil, criminal, administrative, legislative, investigative, or other nature, to
      which the Indemnitee neither is, nor is threatened to be made, a party.

   

  9.            Determination of Entitlement to Indemnification.
      To receive indemnification under this Agreement, the Indemnitee shall submit a written request to the Secretary of the Company.
      Such request shall include documentation or information that is necessary for such determination and is reasonably available to
      the Indemnitee. Upon receipt by the Secretary of the Company of a written request by the Indemnitee for indemnification, the entitlement
      of the Indemnitee to indemnification, to the extent not required pursuant to the terms of Section 6 or Section 8 of
      this Agreement, shall be determined by the following person or persons who shall be empowered to make such determination (as selected
      by the Board of Directors, except with respect to Section 9(e) below): (a) the Board of Directors of the Company by
      a majority vote of Disinterested Directors, whether or not such majority constitutes a quorum; (b) a committee of Disinterested
      Directors designated by a majority vote of such directors, whether or not such majority constitutes a quorum; (c) if there
      are no Disinterested Directors, or if the Disinterested Directors so direct, by Independent Counsel in a written opinion to the
      Board of Directors, a copy of which shall be delivered to the Indemnitee; (d) the stockholders of the Company; or (e) in
      the event that a Change in Control has occurred, by Independent Counsel in a written opinion to the Board of Directors, a copy
      of which shall be delivered to the Indemnitee. Such Independent Counsel shall be selected by the Board of Directors and approved
      by the Indemnitee, except that in the event that a Change in Control has occurred, Independent Counsel shall be selected by the
      Indemnitee. Upon failure of the Board of Directors so to select such Independent Counsel or upon failure of the Indemnitee so
      to approve (or so to select, in the event a Change in Control has occurred), such Independent Counsel shall be selected upon application
      to a court of competent jurisdiction. The determination of entitlement to indemnification shall be made and, unless a contrary
      determination is made, such indemnification shall be paid in full by the Company not later than 60 calendar days after receipt
      by the Secretary of the Company of a written request for indemnification. If the person making such determination shall determine
      that the Indemnitee is entitled to indemnification as to part (but not all) of the application for indemnification, such person
      shall reasonably prorate such partial indemnification among the claims, issues, or matters at issue at the time of the determination.

   

  

  
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  10.          Presumptions and Effect of Certain Proceedings.
      The Secretary of the Company shall, promptly upon receipt of the Indemnitee’s written request for indemnification, advise
      in writing the Board of Directors or such other person or persons empowered to make the determination as provided in Section 9
      that the Indemnitee has made such request for indemnification. Upon making such request for indemnification, the Indemnitee shall
      be presumed to be entitled to indemnification hereunder and the Company shall have the burden of proof in making any determination
      contrary to such presumption. If the person or persons so empowered to make such determination shall have failed to make the requested
      determination with respect to indemnification within 60 calendar days after receipt by the Secretary of the Company of such request,
      a requisite determination of entitlement to indemnification shall be deemed to have been made and the Indemnitee shall be absolutely
      entitled to such indemnification, absent actual fraud in the request for indemnification. The termination of any Proceeding described
      in Sections 4 or 5 by judgment, order, settlement, or conviction, or upon a plea of nolo contendere or its equivalent,
      shall not, of itself (a) create a presumption that the Indemnitee did not act in good faith and in a manner the Indemnitee
      reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding,
      had reasonable cause to believe his or her conduct was unlawful or (b) otherwise adversely affect the rights of the Indemnitee
      to indemnification except as may be provided herein.

   

  11.          Remedies of the Indemnitee in Cases of Determination
        Not to Indemnify or to Advance Expenses; Right to Bring Suit. In the event that a determination is made that the Indemnitee
      is not entitled to indemnification hereunder or if payment is not timely made following a determination of entitlement to indemnification
      pursuant to Sections 9 and 10, or if an advancement of Expenses is not timely made pursuant to Section 16, the Indemnitee
      may at any time thereafter bring suit against the Company seeking an adjudication of entitlement to such indemnification or advancement
      of Expenses, and any such suit shall be brought in the Court of Chancery of the State of Delaware. Alternatively, the Indemnitee
      at the Indemnitee’s option may seek an award in an arbitration to be conducted by a single arbitrator in the State of Delaware
      pursuant to the rules of the American Arbitration Association, such award to be made within 60 calendar days following the filing
      of the demand for arbitration. The Company shall not oppose the Indemnitee’s right to seek any such adjudication or award
      in arbitration. In any suit or arbitration brought by the Indemnitee to enforce a right to indemnification hereunder (but not
      in a suit or arbitration brought by the Indemnitee to enforce a right to an advancement of Expenses), it shall be a defense that
      the Indemnitee has not met any applicable standard of conduct for indemnification set forth in the DGCL, including the standard
      described in Section 4 or 5, as applicable.  Further, in any suit brought by the Company to recover an advancement
      of Expenses pursuant to the terms of an undertaking, the Company shall be entitled to recover such Expenses upon a final judicial
      decision of a court of competent jurisdiction from which there is no further right to appeal that the Indemnitee has not met the
      standard of conduct described above. Neither the failure of the Company (including the Disinterested Directors, a committee of
      Disinterested Directors, Independent Counsel, or its stockholders) to have made a determination prior to the commencement of such
      suit or arbitration that indemnification of the Indemnitee is proper in the circumstances because the Indemnitee has met the standard
      of conduct described above, nor an actual determination by the Company (including the Disinterested Directors, a committee of
      Disinterested Directors, Independent Counsel, or its stockholders) that the Indemnitee has not met the standard of conduct described
      above shall create a presumption that the Indemnitee has not met the standard of conduct described above, or, in the case of such
      a suit brought by the Indemnitee, be a defense to such suit. In any suit brought by the Indemnitee to enforce a right to indemnification
      or to an advancement of Expenses hereunder, or brought by the Company to recover an advancement of Expenses pursuant to the terms
      of an undertaking, the burden of proving that the Indemnitee is not entitled to be indemnified, or to such advancement of expenses,
      under this Section 11 or otherwise shall be on the Company. If a determination is made or deemed to have been made pursuant
      to the terms of Section 9 or 10 that the Indemnitee is entitled to indemnification, the Company shall be bound by such
      determination and is precluded from asserting that such determination has not been made or that the procedure by which such determination
      was made is not valid, binding, and enforceable. The Company further agrees to stipulate in any court or before any arbitrator
      pursuant to this Section 11 that the Company is bound by all the provisions of this Agreement and is precluded from making
      any assertions to the contrary. If the court or arbitrator shall determine that the Indemnitee is entitled to any indemnification
      or advancement of Expenses hereunder, the Company shall pay all Expenses actually and reasonably incurred by the Indemnitee in
      connection with such adjudication or award in arbitration (including, but not limited to, any appellate proceedings) to the fullest
      extent permitted by law, and in any suit brought by the Company to recover an advancement of Expenses pursuant to the terms of
      an undertaking, the Company shall pay all Expenses actually and reasonably incurred by the Indemnitee in connection with such
      suit to the extent the Indemnitee has been successful, on the merits or otherwise, in whole or in part, in defense of such suit,
      to the fullest extent permitted by law.

   

  

  
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  12.          Non-Exclusivity of Rights. The rights
      to indemnification and to the advancement of Expenses provided by this Agreement shall not be deemed exclusive of any other right
      that the Indemnitee may now or hereafter acquire under any applicable law, agreement, vote of stockholders or Disinterested Directors,
      provisions of a charter or bylaws (including the Certificate of Incorporation or Bylaws of the Company), or otherwise.

   

  13.          Expenses to Enforce Agreement. In the
      event that the Indemnitee is subject to or intervenes in any action, suit, or proceeding in which the validity or enforceability
      of this Agreement is at issue or seeks an adjudication or award in arbitration to enforce the Indemnitee’s rights under,
      or to recover damages for breach of, this Agreement, the Indemnitee, if the Indemnitee prevails in whole or in part in such action,
      suit, or proceeding, shall be entitled to recover from the Company and shall be indemnified by the Company against any Expenses
      actually and reasonably incurred by the Indemnitee in connection therewith.

   

  14.          Continuation of Indemnity. All agreements
      and obligations of the Company contained herein shall continue during the period the Indemnitee is a director, officer, employee,
      agent, or trustee of the Company or while a director, officer, employee, agent, or trustee is serving at the request of the Company
      as a director, officer, employee, agent, or trustee of another corporation or of a partnership, joint venture, trust, or other
      enterprise, including service with respect to an employee benefit plan, and shall continue thereafter with respect to any possible
      claims based on the fact that the Indemnitee was a director, officer, employee, agent, or trustee of the Company or was serving
      at the request of the Company as a director, officer, employee, agent, or trustee of another corporation or of a partnership,
      joint venture, trust, or other enterprise, including service with respect to an employee benefit plan. This Agreement shall be
      binding upon all successors and assigns of the Company (including any transferee of all or substantially all of its assets and
      any successor by merger or operation of law) and shall inure to the benefit of the Indemnitee’s heirs, executors, and administrators.

   

  

  
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  15.          Notification and Defense of Proceeding.
      Promptly after receipt by the Indemnitee of notice of any Proceeding, the Indemnitee shall, if a request for indemnification or
      an advancement of Expenses in respect thereof is to be made against the Company under this Agreement, notify the Company in writing
      of the commencement thereof; but the omission so to notify the Company shall not relieve it from any liability that it may have
      to the Indemnitee. Notwithstanding any other provision of this Agreement, with respect to any such Proceeding of which the Indemnitee
      notifies the Company:

   

  (a)           The Company shall be entitled to participate
      therein at its own expense;

   

  (b)           Except as otherwise provided in this Section 15(b),
      to the extent that it may wish, the Company, jointly with any other indemnifying party similarly notified, shall be entitled to
      assume the defense thereof, with counsel satisfactory to the Indemnitee. After notice from the Company to the Indemnitee of its
      election so to assume the defense thereof, the Company shall not be liable to the Indemnitee under this Agreement for any expenses
      of counsel subsequently incurred by the Indemnitee in connection with the defense thereof except as otherwise provided below.
      The Indemnitee shall have the right to employ the Indemnitee’s own counsel in such Proceeding, but the fees and expenses
      of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of the
      Indemnitee unless (i) the employment of counsel by the Indemnitee has been authorized by the Company, (ii) the Indemnitee
      shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct
      of the defense of such Proceeding, or (iii) the Company shall not within 60 calendar days of receipt of notice from the Indemnitee
      in fact have employed counsel to assume the defense of the Proceeding, in each of which cases the fees and expenses of the Indemnitee’s
      counsel shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any Proceeding brought
      by or on behalf of the Company or as to which the Indemnitee shall have made the conclusion provided for in (ii) above; and

   

  (c)           Notwithstanding any other provision of this Agreement,
      the Company shall not be liable to indemnify the Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding
      effected without the Company’s written consent, or for any judicial or other award, if the Company was not given an opportunity,
      in accordance with this Section 15, to participate in the defense of such Proceeding. The Company shall not settle any Proceeding
      in any manner that would impose any penalty or limitation on or disclosure obligation with respect to the Indemnitee, or that
      would directly or indirectly constitute or impose any admission or acknowledgment of fault or culpability with respect to the
      Indemnitee, without the Indemnitee’s written consent. Neither the Company nor the Indemnitee shall unreasonably withhold
      its consent to any proposed settlement.

   

  16.          Advancement of Expenses. All Expenses
      incurred by the Indemnitee in defending any Proceeding described in Section 4 or 5 shall be paid by the Company in advance
      of the final disposition of such Proceeding at the request of the Indemnitee. The Indemnitee’s right to advancement shall
      not be subject to the satisfaction of any standard of conduct and advances shall be made without regard to the Indemnitee’s
      ultimate entitlement to indemnification under the provisions of this Agreement or otherwise. To receive an advancement of Expenses
      under this Agreement, the Indemnitee shall submit a written request to the Secretary of the Company. Such request shall reasonably
      evidence the Expenses incurred by the Indemnitee and shall include or be accompanied by an undertaking, by or on behalf of the
      Indemnitee, to repay all amounts so advanced if it shall ultimately be determined, by final judicial decision of a court of competent
      jurisdiction from which there is no further right to appeal, that the Indemnitee is not entitled to be indemnified for such Expenses
      by the Company as provided by this Agreement or otherwise. The Indemnitee’s undertaking to repay any such amounts is not
      required to be secured. Each such advancement of Expenses shall be made within 20 calendar days after the receipt by the Secretary
      of the Company of such written request. The Indemnitee’s entitlement to Expenses under this Agreement shall include those
      incurred in connection with any action, suit, or proceeding by the Indemnitee seeking an adjudication or award in arbitration
      pursuant to Section 11 of this Agreement (including the enforcement of this provision) to the extent the court or arbitrator
      shall determine that the Indemnitee is entitled to an advancement of Expenses hereunder.

   

  

  
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  17.          Severability; Prior Indemnification Agreements.
      If any provision or provisions of this Agreement shall be held to be invalid, illegal, or unenforceable as applied to any person
      or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law (a) the validity, legality,
      and enforceability of such provision in any other circumstance and of the remaining provisions of this Agreement (including, without
      limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal, or unenforceable,
      that are not by themselves invalid, illegal, or unenforceable) and the application of such provision to other persons or entities
      or circumstances shall not in any way be affected or impaired thereby, and (b) to the fullest extent possible, the provisions
      of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision
      held to be invalid, illegal, or unenforceable, that are not themselves invalid, illegal, or unenforceable) shall be construed
      so as to give effect to the intent of the parties that the Company provide protection to the Indemnitee to the fullest extent
      set forth in this Agreement. This Agreement shall supersede and replace any prior indemnification agreements entered into by and
      between the Company and the Indemnitee and any such prior agreements shall be terminated upon execution of this Agreement.

   

  18.          Headings; References; Pronouns. The headings
      of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement
      or to affect the construction thereof. References herein to section numbers are to sections of this Agreement. All pronouns and
      any variations thereof shall be deemed to refer to the singular or plural as appropriate.

   

  19.          Other Provisions.

   

  (a)           This Agreement and all disputes or controversies
      arising out of or related to this Agreement shall be governed by, and construed in accordance with, the internal laws of the State
      of Delaware, without regard to the laws of any other jurisdiction that might be applied because of conflicts of laws principles
      of the State of Delaware.

   

  

  
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  (b)           This Agreement may be executed in two or more
      counterparts, all of which shall be considered one and the same instrument and shall become effective when one or more counterparts
      have been signed by each of the parties and delivered to the other party.

   

  (c)           This Agreement shall not be deemed an employment
      contract between the Company and any Indemnitee who is an officer of the Company, and, if the Indemnitee is an officer of the
      Company, the Indemnitee specifically acknowledges that the Indemnitee may be discharged at any time for any reason, with or without
      cause, and with or without severance compensation, except as may be otherwise provided in a separate written contract between
      the Indemnitee and the Company.

   

  (d)           In the event of payment under this Agreement,
      the Company shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee (excluding insurance
      obtained on the Indemnitee’s own behalf), and the Indemnitee shall execute all papers required and shall do everything that
      may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively
      to bring suit to enforce such rights.

   

  (e)           This Agreement may not be amended, modified,
      or supplemented in any manner, whether by course of conduct or otherwise, except by an instrument in writing specifically designated
      as an amendment hereto, signed on behalf of each party. No failure or delay of either party in exercising any right or remedy
      hereunder shall operate as a waiver thereof, and no single or partial exercise of any such right or power, or any abandonment
      or discontinuance of steps to enforce such right or power, or any course of conduct, shall preclude any other or further exercise
      thereof or the exercise of any other right or power.

   

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    10 

    
      

    

  

   

  IN
      WITNESS WHEREOF, the Company and the Indemnitee have caused this Agreement to be executed as of the date first written above.

   

  

  	 	ARIS WATER SOLUTIONS, INC.
	 	 
	 	By:	/s/ Amanda M. Brock
	 	 	Name:	Amanda M. Brock
	 	 	Title:	President and Chief Executive Officer
	 	 	 	 
	 	INDEMNITEE	 
	 	 	 	 
	 	/s/ Debra Coy
	 	Signature
	 	 	 	 
	 	Name: Debra Coy


   

  Signature
      Page to Indemnification Agreement