Document:

Exhibit

Director Restricted Stock Agreement  

This Director Restricted Stock Agreement (the “Agreement”), by and between Univar Inc., a Delaware corporation (the “Company”), and the director whose name is set forth on Exhibit A hereto (the “Director”), is being entered into pursuant to the Univar Inc. 2017 Omnibus Equity Incentive Plan (the “Plan”) and is dated as of the Grant Date (as specified on Exhibit A hereto) in accordance with Section 4(m).  Capitalized terms that are used but not defined herein shall have the respective meanings given to them in the Plan.
WHEREAS, the Board of Directors of the Company (the “Board”) authorized the Director’s annual compensation for service as a member of the Board (the “Annual Fee”), a portion of which will be paid in the form of equity in the Company.
NOW, THEREFORE, the Company and the Director hereby agree as follows:
Section 1.Grant of Shares of Restricted Stock.  The Company hereby evidences and confirms its grant to the Director, effective as of the Grant Date, of the aggregate number of shares of Restricted Stock as set forth on Exhibit A hereto, as satisfaction of the equity portion of the Director’s Annual Fee for the current year (the “Shares”).  This Agreement is entered into pursuant to, and the Shares granted hereunder are subject to, the terms and conditions of the Plan, which are incorporated by reference herein.  If there is any inconsistency between any express provision of this Agreement and any express term of the Plan, the express term of the Plan shall govern.  

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Section 2.Vesting and Forfeiture.  
(a)    Vesting.  Except as otherwise provided in this Section 2, the Shares granted hereunder shall become vested, if at all, on the first anniversary of the Grant Date or as otherwise set forth in Exhibit A (the “Vesting Date”), subject to the Director’s continued service on the Board from the Grant Date until the Vesting Date.  
(b)    Effect of Termination of Services.  
(i)    Death or Disability.  If the Director’s service on the Board is terminated due to Death or Disability prior to the Vesting Date (each, a “Special Termination”), outstanding unvested Shares shall vest as of the date of such Special Termination.
(ii)    Any Other Reason.  Upon termination of the Director’s services on the Board prior to the Vesting Date for any reason other than a Special Termination (whether initiated by the Company or by the Director), the Shares shall be forfeited effective as of the date of such termination.
(c)    Effect of a Change in Control.  In the event of a Change in Control occurring prior to the Vesting Date, the treatment of any unvested Shares shall be governed by Article XIV of the Plan.
(d)    Discretionary Acceleration.  Notwithstanding anything contained in this Agreement to the contrary, the Administrator, in its sole discretion, may accelerate the vesting with respect to any Shares under this Agreement, at such times and upon such terms and conditions as the Administrator shall determine.

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Section 3.Restriction on Transfer of Shares.  Prior to the vesting thereof, the Shares are not assignable or transferable, in whole or in part, and they may not, directly or indirectly, be offered, transferred, sold, pledged, assigned, alienated, hypothecated or otherwise disposed of or encumbered (including, but not limited to, by gift, operation of law or otherwise), other than by will or by the laws of descent and distribution to the estate of the Director upon the Director’s death.  Any purported transfer in violation of this Section 3 shall be void ab initio.  Furthermore, notwithstanding any other provision of this Agreement, the Director may not sell the Shares unless such shares are registered under the Securities Act of 1933, as amended (the “Securities Act”), or, if such shares are not then so registered, such sale would be exempt from the registration requirements of the Securities Act.  The sale of the Shares must also comply with other applicable laws and regulations governing the Common Stock, and the Director may not sell the Shares if the Company determines that such sale would not be in material compliance with such laws and regulations.
Section 4.Miscellaneous.
(a)    Authorization to Share Personal Data.  The Director authorizes the Company or any Affiliate of the Company that has or lawfully obtains personal data relating to the Director to divulge or transfer such personal data to the Company or to a third party, in each case in any jurisdiction, if and to the extent reasonably appropriate in connection with this Agreement or the administration of the Plan.
(b)    No Right to Continued Service on Board. Nothing in this Agreement shall be deemed to confer on the Director any right to continue in the service of the Company or any Subsidiary, or to interfere with or limit in any way the right of the Company or any Subsidiary to terminate such service at any time.
(c)    Interpretation.  The Administrator shall have full power and discretion to construe and interpret the Plan (and any rules and regulations issued thereunder) and this Award.  Any determination or interpretation by the Administrator under or pursuant to the Plan or this Award shall be final and binding and conclusive on all persons affected hereby.
(d)    Forfeiture of Awards.  The Shares granted hereunder (and gains earned or accrued in connection therewith) shall be subject to such generally applicable policies as to forfeiture and recoupment (including, without limitation, upon the occurrence of material financial or accounting errors, financial or other misconduct) as may be adopted by the Administrator or the Board from time to time and communicated to the Director, and is otherwise subject to forfeiture or disgorgement of profits as provided by the Plan.
(e)    Consent to Electronic Delivery.  By entering into this Agreement and accepting the Shares evidenced hereby, the Director hereby consents to the delivery of information (including, without limitation, information required to be delivered to the Director pursuant to applicable securities laws) regarding the Company and the Subsidiaries, 

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the Plan, this Agreement and the Shares via the Company’s website or other electronic delivery.
(f)    Binding Effect; Benefits.  This Agreement shall be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and assigns.  No provision of this Agreement, express or implied, is intended or shall be construed to give any person other than the parties to this Agreement or their respective successors or assigns any legal or equitable right, remedy or claim under or in respect of any agreement or any provision contained herein.
(g)    Amendment.  This Agreement may not be amended, modified or supplemented orally, but only by a written instrument executed by the Director and the Company.
(h)    Assignability.  Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by the Company or the Director without the prior written consent of the other party.
(i)    Applicable Law.  This Agreement shall be governed in all respects, including, but not limited to, as to validity, interpretation and effect, by the internal laws of the State of Delaware, without reference to principles of conflict of law that would require application of the law of another jurisdiction.

(j)    Waiver of Jury Trial.  Each party hereby waives, to the fullest extent permitted by applicable law, any right he, she or it may have to a trial by jury in respect of any suit, action or proceeding arising out of this Agreement or any transaction contemplated hereby.  Each party (i) certifies that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing waiver and (ii) acknowledges that he, she or it and the other party hereto have been induced to enter into the Agreement by, among other things, the mutual waivers and certifications in this Section 4(j).
(k)    Limitations of Actions. No lawsuit relating to this Agreement may be filed before a written claim is filed with the Administrator and is denied or deemed denied as provided in the Plan and any lawsuit must be filed within one year of such denial or deemed denial or be forever barred.
(l)    Section and Other Headings, etc.  The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.
(m)    Acceptance of Restricted Stock Award and Agreement. The Director has indicated his or her consent and acknowledgement of the terms of this Agreement and receipt of the Plan by electing to receive cash payments in shares of Common Stock. In any event, 

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the Director shall be deemed to accept this Agreement unless the Director provides the Company with written notice to the contrary prior to the expiration of the 60-day period following the Grant Date, in which case, the Director shall receive cash payment of equivalent value.

Exhibit A to Director Restricted Stock Agreement  

Director:    %%FIRST_NAME%-% %%LAST_NAME%-%    
        
Grant Date:    %%OPTION_DATE,’Month DD, YYYY’%-%    

Shares of Restricted Stock granted hereby:    %%TOTAL_SHARES_GRANTED,'999,999,999'%-%

            
	
					
	Vesting Date
	 
	 
	Shares Vesting
	 

	%%VEST_DATE_PERIOD1,’Month DD, YYYY’%-%
	 
	 
	%%SHARES_PERIOD1,'999,999,999'%-%
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

5Exhibit

Exhibit 10.1

AMENDMENT NO. 1 OF 
AMENDED AND RESTATED LNG SALE AND PURCHASE AGREEMENT 
THIS AMENDMENT NO. 1 OF AMENDED AND RESTATED LNG SALE AND PURCHASE AGREEMENT (this “Amendment”) is made and entered into as of May 3, 2019, by and between Sabine Pass Liquefaction, LLC, a Delaware limited liability company whose principal place of business is located at 700 Milam St., Suite 1900, Houston, TX 77002 (“Seller”), and Cheniere Marketing International LLP, a UK limited liability partnership whose principal place of business is located at Berkeley Square House, Fifth Floor, Berkeley Square, London W1J 6BY, United Kingdom (“Buyer”). Buyer and Seller are each referred to herein as a “Party” and collectively as the “Parties”.
Recitals
		
	(A)
	Seller and Cheniere Marketing, LLC, entered into an LNG Sale and Purchase Agreement dated as of May 14, 2012 (as amended and restated on August 5, 2014, the “Agreement”); 

		
	(B)
	Buyer assumed all of the rights, obligations and liabilities of Cheniere Marketing, LLC under the Agreement with effect from September 1, 2015;

		
	(C)
	Seller and Buyer have agreed to a master LNG sale and purchase agreement dated as of May 12, 2015 (the “Existing MSPA”) that, together with the related confirmations thereunder, documents the terms on which any uncommitted cargoes produced by the Sabine Liquefaction Facility and that are not taken for delivery by Buyer pursuant to the Agreement, may be sold by Seller to Buyer on a profit sharing basis; 

		
	(D)
	Buyer also markets and sells uncommitted cargoes produced by the Corpus Christi LNG export facility;

		
	(E)
	Seller desires to achieve predictable cash-flows by securing additional long-term sales of LNG from the Sabine Liquefaction Facility; and

		
	(F)
	Seller and Buyer desire to amend certain terms of the Agreement, including to reflect the above matters, as set forth herein.

It is agreed:
		
	1.
	Definitions

Capitalized terms used in or incorporated into this Amendment and not otherwise defined herein have the meanings given to them in the Agreement.
		
	2.
	Amendments

		
	2.1
	Section 1.1 of the Agreement is amended by inserting the following definitions:

		
	Conflicts Committee:
	the conflicts committee of the board of directors of CEGP;

		
	Corpus Christi Liquefaction:
	Corpus Christi Liquefaction, LLC and any successor-in-interest;

		
	Existing MSPA:
	the master LNG sale and purchase agreement between Buyer and Seller, dated as of May 12, 2015;

		
	First Amendment Date:
	May 3, 2019;

		
	IRRA:
	the Investors’ and Registration Rights Agreement dated July 31, 2012 among Cheniere Energy, Inc., CEGP, Cheniere Energy Partners, L.P., Cheniere Class B Units Holdings, LLC and any investors party thereto;

		
	Long-Term LNG SPA:
	any agreement for the sale and purchase of LNG that Seller has previously entered into or enters into in the future and which has an initial LNG supply period of five (5) or more years;

		
	Short-Term Cargo:
	any cargo of LNG that is sourced from the Gulf Coast of the United States of America and sold by Buyer or any of its Affiliates, including those cargoes purchased by Buyer pursuant to this Agreement and the LNG sale and purchase agreement between Buyer and Corpus Christi Liquefaction, LLC dated November 28, 2014, but excluding those cargoes of LNG purchased or sold by Buyer or any of its Affiliates pursuant to any other LNG sale and purchase agreement with an initial contract term of at least ten years.

		
	Train 6 DFCD:
	the Subsequent Train DFCD in respect of the sixth (6th) Train;

		
	2.2
	Section 3.3 of the Agreement is deleted in its entirety, and the following Section 3.3 is inserted in lieu thereof:

		
	3.3.1
	Subject to Section 26.1, and notwithstanding the Discharge Terminal corresponding to any cargo in the ADP or Ninety Day Schedule, Buyer shall be free to (i) sell such LNG free on board at the Sabine Pass Facility or at any other point during a voyage, or at or after the unloading of any LNG purchased hereunder and (ii) transport the LNG to, and market the LNG at, any destination of its choosing, in accordance with the provisions of this Agreement.  This Section 3.3.1 is without prejudice to Section 3.3.2.

		
	3.3.2
	Buyer will use commercially reasonable efforts to market and sell all Short-Term Cargoes of LNG that it purchases from Seller pursuant to this Agreement or the Existing MSPA after the First Amendment Date on a non-discriminatory basis as compared to all other Short-Term Cargoes, when viewed on an arms-length basis and taking into account all relevant factors applicable to each such LNG cargo.

		
	3.3.3
	On a quarterly basis, Buyer will deliver to the board of directors of CEGP a confidential report identifying the information set out in Exhibit F (Sample Report) in respect of each Short-Term Cargo delivered to Buyer or its Affiliate (as applicable) during the preceding calendar quarter; provided, however, that such report will instead be delivered by Buyer to the Conflicts Committee during the following periods: (i) from and after the end of the Investor Approval Period (as defined in the IRRA) and (ii) during any period where any non-Cheniere member of the board of directors of CEGP or  one or more members of the Investors Group (as defined in the IRRA) has a conflict of interest due to its participation in or association with an LNG facility located in the United States of America or a business engaged in the marketing or trading of waterborne LNG, in each case other than that of Cheniere Energy, Inc., as determined by the Conflicts Committee.

		
	3.3.4
	Section 3.3.2 shall apply until the latest to occur of:

(a)    Train 6 DFCD,
		
	(b)
	the end of the Investor Approval Period (as defined in the IRRA) without regard to clause (ii) of the definition thereof, and

		
	(c)
	the date upon which Seller has entered into Long-Term LNG SPAs for the aggregate sale of one billion two hundred thirty-five million (1,235,000,000) MMBtu per annum of LNG,

at which time the provisions of Section 3.3.2 shall immediately cease to be of any further force or effect and this Agreement shall thereafter be read as if Section 3.3.2 has been deleted in its entirety.
		
	2.3
	Section 5.1.7 of the Agreement is deleted in its entirety, together with all references to that Section 5.1.7 in the Agreement.

		
	2.4
	Section 5.4 of the Agreement is amended by inserting the following sentence at the end of the existing provision:

Any cargo cancelled pursuant to this Agreement (other than due to a Force Majeure event) and any cargo rejected or deemed to have been rejected by Buyer pursuant to Section 5.1.3, shall be offered for sale by Seller to Buyer under this Agreement at a contract price approved by the special committee established by the board of directors of CEGP under the Third Amended and Restated Limited Liability Company Agreement of CEGP, such contract price to be calculated as set out in Exhibit E (Profit Share Calculation).  The special committee shall act in good faith when considering such approval (with such approval not to be unreasonably withheld, subject to applicable fiduciary duties).  If Buyer accepts such offer, the relevant cargo shall be treated as if it had never been cancelled or rejected (as applicable) by Buyer pursuant to this Agreement and shall be designated as a Relevant Cargo for purposes of Exhibit E (Profit Share Calculation).
		
	2.5
	Exhibits in the form set out as Annex A and Annex B to this Amendment are inserted as a new Exhibit E (Profit Share Calculation) and a new Exhibit F (Sample Report) to the Agreement.

		
	2.6
	All provisions of the Agreement not specifically amended hereby shall remain in full force and effect.

		
	3.
	Miscellaneous

		
	3.1
	Dispute Resolution; Immunity.  The provisions of Section 21.1 (Dispute Resolution) and Section 21.4 (Immunity) of the Agreement shall apply in this Amendment as if incorporated herein mutatis mutandis on the basis that references therein to the Agreement are to this Amendment.

		
	3.2
	Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of New York (United States of America) without regard to principles of conflict of laws that would specify the use of other laws.

		
	3.3
	Entire Agreement.  The Agreement, as amended by this Amendment, constitutes the entire agreement between the Parties and includes all promises and representations, express or implied, and supersedes all other prior agreements and representations, written or oral, between the Parties relating to the subject matter thereof.

		
	3.4
	Amendments and Waiver.   This Amendment may not be supplemented, amended, modified or changed except by an instrument in writing signed by Seller and Buyer and expressed to be a supplement, amendment, modification or change to the Agreement.  A Party shall not be deemed to have waived any right or remedy under this Amendment by reason of such Party’s failure to enforce such right or remedy.

		
	3.5
	Counterparts.  This Amendment may be executed in two counterparts and each such counterpart shall be deemed an original Amendment for all purposes, provided that neither Party shall be bound to this Amendment unless and until both Parties have executed a counterpart.

		
	3.6
	No Partnership.  Parties are each independent of the other and nothing in this Amendment is intended, or shall be deemed, to create a partnership or joint venture of the Parties.  Nothing herein shall be interpreted to create a principal-agent relationship between the Parties.  

IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as of the date first above written.  
	
				
	SELLER:
	 
	BUYER:
	 

	 
	 
	 
	 

	SABINE PASS LIQUEFACTION, LLC
	 
	CHENIERE MARKETING INTERNATIONAL LLP

	 
	 
	 
	 

	 
	 
	By: CHENIERE MARKETING, LLC
	 

	 
	 
	its managing member
	 

	 
	 
	 
	 

	/s/ Michael Wortley
	 
	/s/ Anatol Feygin
	 

	Name:  Michael Wortley
	 
	Name:  Anatol Feygin
	 

	Title:    Chief Financial Officer
	 
	Title:    Executive Vice President and Chief Commercial Officer
	 

	 
	 
	 
	 

Annex A

EXHIBIT E

PROFIT SHARE CALCULATION

The price applicable to each Relevant Cargo offered for sale by Seller to Buyer under this Agreement shall be equal to the sum of the CSP and FPC; provided that, notwithstanding Section 9.2, the FPC applicable to each Relevant Cargo shall equal eighty percent (80%) of the “netback to Buyer” for such Relevant Cargo.  The “netback to Buyer” shall equal the sales price to be received by Buyer for its corresponding sale of the Relevant Cargo minus the estimated transportation and other costs to be incurred by Buyer in respect of such Relevant Cargo, if any, minus one hundred fifteen percent (115%) of HH. 

“Relevant Cargo” means each cargo that is designated as a Relevant Cargo pursuant to Section 5.4.

Annex B

EXHIBIT F

SAMPLE REPORT

CONFIDENTIAL INFORMATION OF CHENIERE ENERGY, INC.
	
										
	 
	Cargo Number
	Loading Port
	Delivery Mode  (FOB/DES)
	Loading Window  / Loading Date
	Anticipated Unloading Port
	Purchase Price*
	Estimated Total Shipping Cost 

($/MMBtu)

	Estimated Total Cost (Shipping, Hedge, etc.)

($/MMBtu)

	115% HH
($/MMBtu)
	$X / MMBtu

	Quarter 1 2019
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*Netback of final sales price less estimated shipping and other costs and after 80/20 split.

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