Document:

Exhibit
10.1

 

PERFORMANCE
SHARE UNIT AWARD AGREEMENT

 

Stereotaxis,
Inc. (the “Company”) has granted David Leo Fischel (the “Participant”) an award for a target
number of 13,000,000 Performance Share Units (the “Target Award”) as of 02/23/2021 (the “Grant Date”).
Each Performance Share Unit (“PSU”) represents the right to receive one share of common stock of the Company,
par value $0.001 per share (the “Common Stock”), subject to the terms and conditions set forth in this Performance
Share Unit Award Agreement (this “Agreement”), as follows. Any capitalized term that is not defined in the
body of this Agreement has the meaning assigned to such term in the “Terms and Conditions of Performance Share Unit Grant”
attached hereto as Exhibit A (the “Terms and Conditions”), which Terms and Conditions are incorporated
herein as if fully set forth herein.

 

I.
Vesting Requirements

 

These
PSUs are performance share units, subject to all terms and conditions of this Agreement, including Exhibit A hereto. Each PSU
(i) represents the right to receive one share of Common Stock of the Company (each a “Share”, and collectively,
the “Shares”) and (ii) shall vest, and such Shares represented by such PSUs shall be issued, upon the satisfaction
of both the Market Capitalization Milestones and the Service Vesting Condition as described in more detail below.

 

As
detailed in Table 1 below, the PSUs are divided into ten (10) vesting tranches (each a “Tranche”), with
each Tranche representing a portion of the PSUs covering that number of Shares specified next to the applicable Tranche number
in Table 1 below. Each Tranche shall vest upon both (a) satisfaction of the Market Capitalization Milestone set forth next
to the applicable Tranche in Table 1 below (each, a “Market Capitalization Milestone”) and (b) except
as otherwise provided herein, the Participant serving as the Chief Company Executive (“Participant Service”)
from the Grant Date through December 31, 2030 (the “Service Vesting Condition”), it being acknowledged and
agreed that Participant shall not be deemed to have ceased to provide service in the event of sick leave or any other leave of
absence approved by the Board to the extent consistent with Code Section 409A. The Administrator shall determine, approve and
certify when each of the Market Capitalization Milestones for the applicable Tranche have been satisfied (each, a “Certification”).
Separate Certifications shall occur on separate dates with respect to the achievement of each Market Capitalization Milestone
that is required for the vesting of any particular Tranche. Once a Market Capitalization Milestone has been achieved, it is forever
deemed achieved for determining the vesting of a Tranche (including any later satisfaction of a Service Vesting Condition). “Chief
Company Executive” shall mean the performance of significant services as (a) the Chief Executive Officer of the Company,
(b) the Executive Chairman of the Company, or (c) such other mutually agreed upon significant role with the Company.

 

The
Administrator shall, periodically and at such other times upon request of the Participant, assess whether the vesting requirements
have been satisfied. The maximum term of the PSUs shall end on December 31, 2030 (the “Expiration Date”), so
that absent earlier termination as provided herein, the PSUs shall expire automatically on the Expiration Date without regard
to whether any or all of the PSUs vested.

 

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Table
1. Vesting Requirements for Performance-Based PSUs.

 

	Tranche #	 	No. of Shares
 Subject to PSU
	 	 	Market Capitalization Milestones(1)	 
	1	 	 	1,000,000	 	 	$	1,000,000,000	 
	2	 	 	1,500,000	 	 	$	1,500,000,000	 
	3	 	 	1,500,000	 	 	$	2,000,000,000	 
	4	 	 	2,000,000	 	 	$	2,500,000,000	 
	5	 	 	1,000,000	 	 	$	3,000,000,000	 
	6	 	 	1,000,000	 	 	$	3,500,000,000	 
	7	 	 	1,000,000	 	 	$	4,000,000,000	 
	8	 	 	2,000,000	 	 	$	4,500,000,000	 
	9	 	 	1,000,000	 	 	$	5,000,000,000	 
	10	 	 	1,000,000	 	 	$	5,500,000,000	 
	Total:	 	 	13,000,000	 	 	 	 	 

 

	 	(1)	The
    Market Capitalization Milestones are subject to adjustment pursuant to the terms of this Agreement relating to certain corporate
    transactions. See Section V. Such Market Capitalization Milestones are cumulative and inclusive of prior Tranches, such that
    if a determination that Tranche #2 has been achieved prior to (or simultaneously with) the determination of Tranche #1, then
    Tranche #1 and #2 shall both be deemed satisfied, provided that each Tranche may only be achieved once.

 

II. Determination of Market Capitalization

 

For
purposes of these PSUs, “Market Capitalization” on a particular day (the “Determination Date”)
shall be determined in accordance with the following:

 

1.
A trading day refers to a day on which the primary stock exchange or national market system on which the Common Stock trades (e.g.,
the NYSE American) is open for trading.

 

2.
The Company’s daily market capitalization for a particular trading day is equal to the product of (a) the total number of
Outstanding Shares as of the close of such trading day, as reported by the Company’s transfer agent, and (b) the volume-weighted
average trading price per Share on such trading day, as reported by Bloomberg L.P. (or such other reliable source selected by
the Administrator if Bloomberg L.P. is not reporting a volume-weighted average trading price for that day) (such product, the
“Daily Market Capitalization”).

 

3.
The term “Outstanding Shares” as of any Determination Date means (a) all issued and outstanding shares of Common Stock
as of such date and (b)all shares of Common Stock issuable upon conversion, exercise or exchange of any warrants, options, shares
of preferred stock, other rights to acquire from the Company or other obligation of the Company to issue shares of Common Stock,
in each case outstanding or existing as of such date, including without limitation shares of Common Stock issuable (i) upon conversion
of the Company’s outstanding Series A Convertible Preferred Stock, par value $0.001 per share, (ii) upon conversion of the
Company’s outstanding Series B Convertible Preferred Stock, par value $0.001 per share, and (iii) pursuant to options or
restricted stock units issued under the Company’s employee equity incentive plan(s) or in connection with any hiring, retention,
compensation, incentivization, retirement, termination or severance arrangements for employees, officers, directors and consultants
of the Company and its Affiliates, whether or not the obligation exists as of the date of this Agreement.

 

3.
The “Market Capitalization” on any given Determination Date is equal to (a) the sum of the Daily Market Capitalization
of the Company for each trading day during the 90 calendar day period immediately prior to and including the Determination Date,
divided by (b) the number of trading days during such period, provided, however, that, notwithstanding the foregoing, in the case
of a Change in Control, the term Market Capitalization shall have the meaning described in Section IV below.

 

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4.
In order for the Market Capitalization Milestone set forth in Table 1 for any particular Tranche above to be met, the Market Capitalization
must equal or exceed the value of such applicable Market Capitalization Milestone on any Determination Date.

 

III. Stockholder Vote; Share Delivery Failure

 

Stockholder
Vote. The Company shall seek stockholder approval of the issuance of Shares pursuant to this Agreement at a minimum at least
as frequently as every Annual Meeting of Stockholders until such approval is obtained for all Shares in the Target Award. The
Company shall not be obligated to issue Shares underlying such PSUs until the Company’s stockholders have voted to approve
the issuance of such Shares, all in accordance with the applicable rules of the NYSE American (or other primary stock exchange
or national market system on which the Common Stock trades), notwithstanding any vesting of all or a portion of the PSUs prior
to such stockholder approval; provided, however, that if the Company seeks, and the Company’s stockholders approve,
the issuance of a portion of the Shares underlying the PSUs hereunder, then such portion that have received such stockholder approval
may be issued by the Company at the time and in the manner otherwise set forth herein, subject to all other terms and conditions
of this Agreement.

 

Share
Delivery Failure. In the event the Company fails to issue and deliver such Shares when otherwise due hereunder following (i)
satisfaction of the applicable vesting conditions therefor and (ii) stockholder approval of the issuance of all or a portion of
the Shares underlying the PSUs under the applicable rules of the NYSE American (or other primary stock exchange or national market
system on which the Common Stock trades) (a “Share Delivery Failure”), the Company shall deliver to the Participant,
at the time that payment in Shares otherwise would be required hereunder, an amount in cash equal to (i) the Fair Market Value
of one share of Common Stock, where such Fair Market Value is determined on the date of the applicable Payment Event, multiplied
by (ii) that number of Shares specified next to the applicable Tranche number in Table 1 for each such Market Capitalization
Milestone so achieved, less applicable withholding.

 

IV.
Vesting Determination upon Change in Control of the Company

 

Notwithstanding
Sections I and II above, in the event of a Change in Control, for purposes of determining whether any Tranches vest in connection
with any such Change in Control, the Service Vesting Condition shall be disregarded and only the Market Capitalization Milestone(s)
(as defined in the paragraph below) shall be required to be met for the vesting of Tranches.

 

In
the event of a Change in Control, the Market Capitalization calculation shall be disregarded and the Market Capitalization shall
equal the total amount of consideration paid to all equity holders of the Company, with the amount of shares to be issued pursuant
to this Agreement giving effect to such valuation, and, for all valuations above $1 billion (Tranche 1), then partial credit
for the next following Tranche shall be allocated pro rata based on the Market Capitalization in such Change in Control. By way
of example, if the total equity value to all shareholders of the Company in a Change in Control transaction is $2.30 billion,
then immediately prior to the consummation of such Change in Control transaction, Participant shall be entitled to receive a number
of Shares equal to (a)(i) 4,000,000 (Tranches 1-3) plus (ii) 600,000 (representing 60% of Tranche 4 because $300
million is 60% of the incremental achievement of Tranche 4 above Tranche 3) less (b) the number of Shares paid on
the achievement of any Tranches prior to such Change in Control, if any.

 

To
the extent that any Tranche has not vested as of immediately before the effective time of the Change in Control and otherwise
does not vest as a result of the Change in Control as described in this Section IV, such unvested Tranche will be forfeited automatically
as of the effective time of the Change in Control and never shall become vested.

 

V.
Milestone Adjustments in the Event of Certain Corporate Transactions

 

	 	A.
    	Milestone
    Adjustments for Acquisitions

 

	 	1.	Upon
    and effective as of the closing of an Acquisition by the Company of another entity, with a Purchase Price greater than the
    Transaction Value Threshold, any and all Market Capitalization Milestones that are unachieved as of immediately before the
    closing of such Acquisition will be increased by the dollar amount equal to the Purchase Price of such Acquisition.

 

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	 	B.	Milestone
    Adjustments for Spin-Offs

 

	 	1.	Upon
    and effective as of the completion of a Spin-Off with a Spin-Off Value greater than the Transaction Value Threshold, any and
    all Market Capitalization Milestones that are unachieved as of immediately before the completion of such Spin-Off will be
    decreased by the dollar amount equal to the Spin-Off Value of such Spin-Off.

 

VI.
Termination Period

 

A.
Vesting at Termination. If the Participant ceases to be the Chief Company Executive prior to the Expiration Date by
(i) death, (ii) Disability, (iii) termination by the Company for Cause or without Cause, or (iv) Participant voluntarily terminating
his position as Chief Company Executive (subject, in the case of (iv), to Participant having served a minimum of five years after
the date of this Agreement as Chief Company Executive) (a “Qualifying Participant Voluntary Termination”),
the Administrator shall promptly assess whether any Market Capitalization Milestones vesting requirements have been satisfied
as of any Determination Date on or prior to the date the Participant ceases to be the Chief Company Executive, and provide Certification
of the same, effective as of the date the Participant ceases to be the Chief Company Executive. At the time of any such Certification,
the remaining Service Vesting Condition for the PSUs represented by the achievement of such tranche shall be waived and such portion
of the PSUs shall become fully vested. Except to the extent provided in Section VI.B below, any PSUs not so vested at the time
that Participant ceases to be the Chief Company Executive shall be forfeited automatically and never shall become vested (including,
for the avoidance of doubt, any PSUs outstanding at the time of Participant voluntarily terminating his position as Chief Company
Executive in such manner other than a Qualifying Participant Voluntary Termination)

 

B.
One-Year Tail. In addition to the Vesting at Termination provided for in Section VI.A above, if Participant ceases
to be the Chief Company Executive prior to the Expiration Date as a result of the Participant’s death, Disability or termination
by the Company of such role without Cause (but not in the case of any other termination, including, not in the case of any termination
for Cause or any Qualifying Participant Voluntary Termination), any further portion of these PSUs that has not vested by the date
of Participant’s cessation as the Chief Company Executive will remain outstanding for one year following such event (or
the Expiration Date, if earlier). The Administrator shall promptly assess whether one or more additional Market Capitalization
Milestone vesting requirements have been satisfied as of a Determination Date on or prior to such one-year anniversary date after
the Participant ceased to be the Chief Company Executive by reason of death, Disability or termination without Cause (but in no
event later than the Expiration Date) solely for purposes of such final Certification. At the time of any such Certification,
the remaining Service Vesting Condition for the PSUs represented by the achievement of any such Tranche shall be waived and such
portion of the PSUs shall become fully vested. Any such remaining portion of the PSUs that fails to vest upon such final Certification
will be forfeited automatically and never shall become vested.

 

C.
Terms and Conditions. Notwithstanding the forgoing, these PSUs may expire other than as provided in this Section VI
as provided in Section 2 of the Terms and Conditions.

 

VII.
Time of Payment

 

Payment
of the Participant’s vested PSUs shall be made on the earliest to occur of the following events (each a “Payment
Event”): (a) the date that is one year after the Participant’s Separation from Service; (b) the date of a Change
in Control; or (c) the Expiration Date. Any PSUs that are not vested at the time of a Payment Event shall be forfeited automatically
and never shall become vested or payable.

 

VIII.
DAFNA Capital Management.

 

The
Company acknowledges that Participant is and has been prior to the date of this Agreement, a principal at DAFNA Capital Management.
The Participant may continue to serve as an officer or director of DAFNA Capital Management on substantially the same terms as
he has since his appointment as acting CEO in February 2017, or otherwise as the Company and the Participant may mutually agree
upon, and such service shall not be deemed to materially interfere with the Participant’s performance of his duties as Chief
Company Executive.

 

IX.
Acceptance of PSUs

 

By
Participant’s acceptance of this Agreement either electronically through the electronic acceptance procedure established
by the Company or through a written acceptance delivered to the Company in a form satisfactory to the Company, Participant agrees
that these PSUs are granted under and governed by the terms and conditions of this Agreement, including the Terms and Conditions,
attached hereto as Exhibit A, all of which are made a part of this document. Participant confirms that he has reviewed
this Agreement in its entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully
understands all provisions of the Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions
or interpretations of the Administrator upon any questions relating to the Agreement. Participant further agrees to notify the
Company upon any change in the residence address indicated above.

 

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In
witness whereof, Stereotaxis, Inc. has caused this Agreement to be executed on its behalf by its duly-authorized officer on the
day and year first indicated above.

 

	 	STEREOTAXIS,
    INC.
	 	 
	 	/s/ David W. Benfer
	 	Name:	David
    W. Benfer
	 	Title:	Lead
    Independent Director of the Board of Directors

 

 

Agreed
and accepted:

 

	Participant:	 
	 	 
	/s/
    David L. Fischel	 
	David
    Fischel	 

 

    	 	5	 

    	 

    

 

EXHIBIT
A

 

TERMS
AND CONDITIONS OF PERFORMANCE SHARE UNIT GRANT

 

1.
Definitions. As used herein, the following definitions shall apply to the following capitalized terms:

 

1.1.
“Acquisition” means any merger of a corporation or other entity with or into the Company by the Company of
a corporation or other entity, or purchase by the Company of all or substantially all assets of a corporation or other entity.

 

1.2.
“Administrator” means the Board or any committee of Directors or other individuals (excluding Participant)
satisfying Applicable Laws appointed by the Board; provided that while Participant is a Director, Participant shall recuse himself
from any Board approvals relating to the administration of the Agreement or these PSUs.

 

1.3.
“Agreement” means this Performance Share Unit Agreement between the Company and Participant evidencing the
terms and conditions of these PSUs, including this Exhibit A.

 

1.4.
“Applicable Laws” means the legal and regulatory requirements relating to the administration of equity-based
awards and the related issuance of shares of common stock, including but not limited to U.S. state corporate laws, U.S. federal
and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and
the laws of any non-U.S. country or jurisdiction applicable to the PSUs.

 

1.5.
“Board” means the Board of Directors of the Company.

 

1.6
“Cause” means:

 

(a)
the institution of criminal charges against Participant, or the admission by Participant of, or any action or omission by Participant
that constitutes embezzlement, theft or other intentional misappropriation of any property of Company;

 

(b)
any willful act involving moral turpitude which brings disrepute or disparagement to the Company or substantially impairs its
good will and reputation, or results in a conviction for or plea of guilty or nolo contendre to a felony involving moral turpitude,
fraud or misrepresentation;

 

(c)
material neglect of duties (other than due to Disability) which, if curable, is not cured by Participant, provided however, Participant
shall receive a reasonable opportunity to cure within at least fifteen (15) days after written notice of such neglect of duties
if such material neglect of duties is curable within such period; or

 

(d)
material breach of fiduciary obligations to Company after written notice of such breach.

 

1.7.
“Change in Control” means the occurrence of any of the following events:

 

(a)
A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group
(“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes
more than ninety percent (90%) of the total voting power of the stock of the Company. For this purpose, indirect beneficial ownership
shall include, without limitation, an interest resulting from ownership of the voting securities of one or more corporations or
other business entities which own the Company, as the case may be, either directly or through one or more subsidiary corporations
or other business entities; or

 

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(b)
A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires
(or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons)
assets from the Company that have a total gross fair market value equal to or more than ninety percent (90%) of the total gross
fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however,
that for purposes of this subsection (b), the following will not constitute a change in the ownership of a substantial portion
of the Company’s assets: (i) a transfer to an entity that is controlled by the Company’s stockholders immediately
after the transfer, or (ii) a transfer of assets by the Company to: (A) a stockholder of the Company (immediately before the asset
transfer) in exchange for or with respect to the Company’s stock, (B) an entity, fifty percent (50%) or more of the total
value or voting power of which is owned, directly or indirectly, by the Company, (C) a Person, that owns, directly or indirectly,
ninety percent (90%) or more of the total value or voting power of all the outstanding stock of the Company, or (D) an entity,
at least ninety percent (90%) of the total value or voting power of which is owned, directly or indirectly, by a Person described
in this subsection (b)(ii)(C). For purposes of this subsection (b), gross fair market value means the value of the assets of the
Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

 

For
purposes of this Section 1.7, persons will be considered to be acting as a group if they are owners of a corporation that enters
into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

 

Notwithstanding
the foregoing, to the extent required to avoid adverse tax consequences under Section 409A of the Code, a Change in Control shall
not occur unless it meets the foregoing requirements and such transaction also constitutes a change in the ownership of the Company,
a change in the effective control of the Company, or a change in the ownership of a substantial portion of the Company’s
assets under Section 409A of the Code. Further and for the avoidance of doubt, a transaction will not constitute a Change in Control
if: (i) its sole purpose is to change the jurisdiction of the Company’s incorporation, or (ii) its sole purpose is to create
a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities
immediately before such transaction.

 

1.8.
“Code” means the Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or
regulation thereunder shall include such section, any valid regulation or other guidance promulgated under such section, and any
comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation.

 

1.9.
“Common Stock” means the common stock of the Company, par value $0.001 per share.

 

1.10.
“Company” means Stereotaxis, Inc., a Delaware corporation, or any successor thereto.

 

1.11.
“Director” means a member of the Board.

 

1.12.
“Disability” means total and permanent disability as defined in Section 22(e) (3) of the Code.

 

1.13.
“Employee” means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary
of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute
“employment” by the Company.

 

1.14.
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

1.15.
“Fair Market Value” means, as of any date, the value of Common Stock determined as follows:

 

(a)
If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the
New York Stock Exchange, the NYSE American, the Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market
of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for the Common Stock (or the closing bid, if
no sales were reported) as quoted on such exchange or system on the day of determination (or if the day of determination is not
a day on which the exchange or system is not open for trading, then the last day prior thereto on which the exchange or system
was open for trading), as reported in The Wall Street Journal or such other source as the Administrator deems reliable;

 

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(b)
If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market
Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or
if the day of determination is not a day on which the dealer is not open for trading, then the last day prior thereto on which
the dealer was open for trading), as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; or

 

(c)
In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good faith by the Administrator.

 

1.16.
“Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange
Act and the rules and regulations promulgated thereunder.

 

1.17.
“Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section
424(e) of the Code.

 

1.18.
“Purchase Price” means, for each Acquisition, the purchase price as determined reasonably and in good faith
by the Administrator, taking into account, without limitation, the value of consideration paid or issued, future payments to be
paid, assets acquired or liabilities discharged or assumed by the Company in the Acquisition.

 

1.19.
“Share” means a share of the Common Stock, as adjusted in accordance with Section 2 of this Agreement.

 

1.20.
“Spin-Off” means any split-up, spin-off or divestiture transaction by the Company.

 

1.21.
“Spin-Off Value” means, for each Spin-Off, the enterprise value of the split-up, spun-off or divested portion
of the Company (the “Spun-Off Entity”), as determined reasonably and in good faith by the Administrator.

 

1.22.
“Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code.

 

1.23.
“Target” means any corporation or other entity acquired by the Company or merged with or into the Company,
or from which all or substantially all assets of such corporation or other entity are acquired by the Company, in an Acquisition.

 

1.24.
“Tax Obligations” means any tax and/or social insurance liability obligations and requirements in connection
with the PSUs, including, without limitation, (i) all federal, state, and local taxes (including Participant’s Federal Insurance
Contributions Act (FICA) obligation) that are required to be withheld by the Company or other payment of tax-related items related
to the PSUs and legally applicable to Participant, (ii) Participant’s and, to the extent required by the Company, the Company’s
fringe benefit tax liability, if any, associated with the grant or vesting of the PSUs or sale of Shares, and (iii) any other
Company taxes the responsibility for which Participant has, or has agreed to bear, with respect to the PSUs (or issuance of Shares
thereunder).

 

1.25.
“Transaction Value Threshold” means a dollar amount equal to one hundred million dollars ($100,000,000).

 

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2.
Adjustments; Dissolution of Liquidation.

 

2.1.
Adjustments.

 

2.1.1.
In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities, or other property),
recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase,
or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting
the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended
to be made available under the Agreement (and in a manner that will not provide Participant with any greater benefit or potential
benefits than intended to be made available under the Agreement, other than as may be necessary solely to reflect changes resulting
from any such aforementioned event), will adjust the number and class of shares covered by the PSUs.

 

2.1.2.
It is intended that, if possible, any adjustments contemplated by this Section 2.1 be made in a manner that satisfies applicable
legal, tax (including, without limitation and as applicable in the circumstances, Section 409A of the Code) and accounting (so
as not to trigger any charge to earnings with respect to such adjustment) requirements.

 

2.2.
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator will
notify Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent the PSUs or
any portion thereof have not been previously vested, the PSUs will terminate immediately prior to the consummation of such proposed
action.

 

3.
Tax Matters.

 

3.1.
Tax Obligations. Participant acknowledges that, regardless of any action taken by the Company, the ultimate liability for
any Tax Obligations is and remains Participant’s responsibility and may exceed the amount actually withheld by the Company.
Participant further acknowledges that the Company (A) makes no representations or undertakings regarding the treatment of any
Tax Obligations in connection with any aspect of the PSUs, including, but not limited to, the grant or vesting of the PSUs, the
subsequent sale of Shares issued upon such vesting and the receipt of any dividends or other distributions, and (B) does not commit
to and is under no obligation to structure the terms of the grant or any aspect of the PSUs to reduce or eliminate Participant’s
liability for Tax Obligations or achieve any particular tax result. Further, if Participant is subject to Tax Obligations in more
than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable,
Participant acknowledges that the Company may be required to withhold or account for Tax Obligations in more than one jurisdiction.
If Participant fails to make satisfactory arrangements for the payment of any required Tax Obligations hereunder at the time of
the applicable taxable event, Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares.

 

3.2.
Tax Withholdings. Pursuant to such procedures as the Administrator may specify from time to time, the Company shall withhold
the amount required to be withheld for the payment of Tax Obligations. The Administrator, in its sole discretion and pursuant
to such procedures as it may specify from time to time, may permit Participant to satisfy such Tax Obligations, in whole or in
part (without limitation), if permissible by Applicable Laws, by (i) paying cash, or (ii) selling a sufficient number of such
Shares otherwise deliverable to Participant through such means as the Company may determine in its sole discretion (whether through
a broker or otherwise) equal to the minimum amount that is necessary to meet the withholding requirement for such Tax Obligations
(or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in
adverse financial accounting consequences). Notwithstanding anything herein to the contrary, the Administrator, in its sole discretion,
may accelerate payment of all or a portion of the Participant’s vested PSUs (i) to pay the Federal Insurance Contributions
Act (FICA) tax imposed under Sections 3010, 3121(a) and 3121(v)(2) of the Code (the “FICA Amount”), or (ii)
to pay the income tax at source on wages imposed under Section 3401 of the Code or the corresponding withholding provisions of
applicable state, local or foreign tax laws as a result of the payment of the FICA Amount and the additional income tax at source
on wages attributable to the pyramiding Section 3401 wages and taxes; provided, however, that the total payment under this Section
shall not exceed the FICA Amount and the income tax withholding related to the FICA Amount. The Administrator’s determination
of whether payment may be accelerated in accordance with this Section shall be made in accordance with Code Section 409A
in such manner as to not trigger adverse tax consequences thereunder.

 

    	 	9	 

    	 

    

 

3.3.
Code Section 409A. This Agreement is intended to comply with Section 409A of the Code or an exemption thereunder and shall
be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under
Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided
under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of
any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with Section
409A of the Code. Notwithstanding anything herein to the contrary, if the Participant is determined to be a specified employee
under Code Section 409A as of the date of his Separation from Service, then any payment otherwise required hereunder on account
of a Separation from Service shall be delayed (to the extent otherwise due sooner) until the first payroll date of the seventh
month following the Participant’s Separation from Service (or, if earlier, upon the date of the Participant’s death)
(the “Specified Employee Payment Date”), to the extent required to avoid the adverse tax consequences under Section
409A of the Code. Any payments to which the Participant otherwise would have been entitled hereunder during the period between
the Participant’s Separation from Service and the Specified Employee Payment date shall be accumulated and paid in a lump
sum payment on the Specified Employee Payment Date.

 

3.4.
Tax Consequences. Participant has reviewed with Participant’s own tax advisors the U.S. federal, state, local and
non-U.S. tax consequences of this investment and the transactions contemplated by this Agreement. With respect to such matters,
Participant relies solely on such advisors and not on any statements or representations of the Company or any of its agents, written
or oral. Participant understands that Participant (and not the Company) shall be responsible for Participant’s own Tax Obligations
and any other tax-related liabilities that may arise as a result of this investment or the transactions contemplated by this Agreement.

 

4.
Rights as Stockholder. Neither Participant nor any person claiming under or through Participant will have any of the
rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates
representing such Shares (which may be in book entry form) will have been issued, recorded on the records of the Company or its
transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account). After
such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company with respect to
voting such Shares and receipt of dividends and distributions on such Shares.

 

5.
No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING
PROVISIONS HEREOF IS EARNED ONLY BY (AMONG OTHER THINGS) CONTINUING AS THE CHIEF COMPANY EXECUTIVE AT THE WILL OF THE COMPANY
AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THE PSUs OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES
AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING PROVISIONS SET FORTH HEREIN DO NOT CONSTITUTE
AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS THE CHIEF COMPANY EXECUTIVE FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE
IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT)
TO TERMINATE PARTICIPANT’S RELATIONSHIP AS THE CHIEF COMPANY EXECUTIVE OR AS A SERVICE PROVIDER OF THE COMPANY OR ANY PARENT
OR SUBSIDIARY OF THE COMPANY AT ANY TIME, WITH OR WITHOUT CAUSE.

 

6.
Forfeiture Events. The Administrator shall require, in all appropriate circumstances, forfeiture or repayment with
respect to these PSUs, where: (a) the vesting of the PSUs, or any portion of the PSUs, was predicated upon achieving certain financial
results that subsequently were the subject of a financial restatement of the Company’s financial statements previously filed
with the SEC (such restated financial results, the “Restated Financial Results”); and (b) a lesser portion
of the PSUs would have vested based upon the restated financial results. In each such instance, (i) Participant shall forfeit
the vested portion of the PSUs that would not have vested based on the Restated Financial Results (the “Forfeited Portion”);
provided that (ii) to the extent that Company has issued any Shares to Participant subject to the Forfeited Portion (the “Issued
Shares”), the Issued Shares shall be forfeited to the Company; and provided further, that (iii) to the extent Participant
transferred or disposed of in any manner any Issued Shares, Participant shall pay to the Company the gross amount of the proceeds
resulting from the transfer or other disposition of such Purchased Shares, in a single cash lump sum no later than thirty (30)
days following written notice by the Company. For purposes of the immediately preceding sentence, any forfeiture or repayment
required under this Section 6 shall be satisfied (A) first via forfeiture of any vested and unissued portion of the PSUs in accordance
with clause (i) of this Section, (B) next via the forfeiture, of any Shares issued under the PSUs Participant holds, in accordance
with clause (ii) of this Section, as applicable, and (C) lastly by requiring repayment pursuant to clause (iii) of this Section,
as applicable. Notwithstanding any provisions to the contrary under this Agreement, the PSUs shall be subject to any clawback
policy of the Company currently in effect or that may be established and/or amended from time to time that applies to these PSUs
(the “Clawback Policy”), provided that the Clawback Policy does not discriminate solely against Participant
except as required by Applicable Laws, and provided further that if there is a conflict between the terms of these PSUs and the
Clawback Policy, the more stringent terms, as determined by the Administrator in good faith, shall apply. The Administrator may
require Participant to forfeit, return or reimburse the Company all or a portion of the PSUs and any amounts paid thereunder pursuant
to the terms of the Clawback Policy or as necessary or appropriate to comply with Applicable Laws.

 

    	 	10	 

    	 

    

 

7.
Address for Notices. Any notice to be given to the Company under the terms of this Agreement will be addressed to the
Company, in care of its Chief Financial Officer at Stereotaxis, Inc., 4320 Forest Park Ave., Suite 100, St. Louis, Missouri 63108,
or at such other address as the Company may hereafter designate in writing.

 

8.
Non-Transferability of PSUs. These PSUs may not be transferred in any manner otherwise than by will or by the laws
of descent or distribution, provided that Participant may direct that the Shares issuable upon vesting may be delivered to or
in the name of a personal trust.

 

9.
Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees,
and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer
herein set forth, this Agreement shall be binding upon Participant and Participant’s heirs, legatees, legal representatives,
executors, administrators, successors and assigns. The rights and obligations of Participant under this Agreement may be assigned
only with the prior written consent of the Company.

 

10.
Agreements Regarding Issuance, Listing and Registration of Stock. The Company agrees to take all reasonable best efforts
to cause or effect the listing and qualification of the Shares on NYSE American (or any successor securities exchange on which
the Company’s equity securities are listed) and registration under applicable federal or state securities laws and related
regulations (together, the “Issuance Requirements”) required for the issuance of Shares to Participant hereunder.
Shares will not be issued pursuant to the exercise of the PSUs unless the exercise of the PSUs and the issuance and delivery of
such Shares will comply with Applicable Laws, provided that it is understood and agreed that the Company will make all reasonable
best efforts to meet such Issuance Requirements. Assuming such satisfaction of the Issuance Requirements, for income tax purposes
the Issued Shares will be considered transferred to Participant on the date the Shares underlying the PSUs are issued.

 

11.
Administrator Authority. These PSUs have been granted pursuant to a determination made by the Administrator, and such
Administrator or any successor or substitute Administrator, including the Board itself, subject to the express terms of these
PSUs and this Agreement, shall have plenary authority to interpret any provision of this Agreement and to make any determinations
necessary or advisable for the administration of this Agreement and the PSUs herein granted, and may waive or amend any provisions
hereof in any manner not adversely affecting the rights granted to Participant by the express terms hereof.

 

12.
Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to PSUs awarded
under this Agreement or future securities that may be awarded by the Company by electronic means or request Participant’s
consent to participate in any equity-based compensation plan or program maintained by the Company by electronic means. Participant
hereby consents to receive such documents by electronic delivery and agrees to participate in such plan or program through any
on-line or electronic system established and maintained by the Company or another third party designated by the Company.

 

13.
Captions. Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction
of this Agreement.

 

14.
Agreement Severable. In the event that any provision in this Agreement will be held invalid or unenforceable, such
provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining
provisions of this Agreement.

 

    	 	11	 

    	 

    

 

15.
Modifications to the Agreement. This Agreement constitutes the entire understanding of the parties on the subjects
covered. Participant expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations,
or inducements other than those contained herein. Modifications to this Agreement can be made only in an express written contract
executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in this Agreement, the Company
reserves the right to revise this Agreement as it deems necessary or advisable, in its sole discretion and without the consent
of Participant, to comply with Code Section 409A or otherwise to avoid imposition of any additional tax or income recognition
under Code Section 409A in connection with these PSUs.

 

16.
No Waiver. Either party’s failure to enforce any provision or provisions of this Agreement shall not in any way
be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every
other provision of this Agreement. The rights granted both parties herein are cumulative and shall not constitute a waiver of
either party’s right to assert all other legal remedies available to it under the circumstances.

 

17.
No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making
any recommendations regarding this Agreement, or Participant’s acquisition or sale of the underlying Shares. Participant
is hereby advised to consult with Participant’s own tax, legal and financial advisors regarding this Agreement before taking
any action related to this Agreement.

 

18.
Governing Law. This Agreement will be governed by the laws of the State of Delaware, without giving effect to the conflict
of law principles thereof.

 

19.
Claims Procedures.

 

19.1
Filing a Claim. The Participant or other person claiming an interest in the Agreement (the “Claimant”) may file a
claim in writing with the Administrator. The Administrator shall review the claim itself or appoint an individual or entity to
review the claim.

 

19.2
Claim Decision. The Claimant shall be notified within ninety (90) days after the claim is filed whether the claim is approved
or denied, unless the Administrator determines that special circumstances beyond its control require an extension of time, in
which case the Administrator may have up to an additional ninety (90) days to process the claim. If the Administrator determines
that an extension of time for processing is required, the Administrator shall furnish written or electronic notice of the extension
to the Claimant before the end of the initial ninety (90) day period. Any notice of extension shall describe the special circumstances
necessitating the additional time and the date by which the Administrator expects to render its decision.

 

19.3
Notice of Denial. If the Administrator denies the claim, it must provide to the Claimant, in writing or by electronic communication,
a notice which includes: (a)The specific reason(s) for the denial; (b)Specific reference to the pertinent Agreement provisions
on which such denial is based; (c)A description of any additional material or information necessary for the Claimant to perfect
his or her claim and an explanation of why such material or information is necessary; (d)A description of the Agreement’s
appeal procedures and the time limits applicable to such procedures, including a statement of the Claimant’s right to bring
a civil action under Section 502(a) of ERISA following a denial of the claim on appeal; and (e)If an internal rule was relied
on to make the decision, either a copy of the internal rule or a statement that this information is available at no charge upon
request.

 

19.4
Appeal Procedures. A request for appeal of a denied claim must be made in writing to the Administrator within sixty (60) days
after receiving notice of denial. The decision on appeal will be made within sixty (60) days after the Administrator’s receipt
of a request for appeal, unless special circumstances require an extension of time for processing, in which case a decision will
be rendered not later than one hundred twenty (120) days after receipt of a request for appeal. A notice of such an extension
must be provided to the Claimant within the initial sixty (60) day period and must explain the special circumstances and provide
an expected date of decision. The reviewer shall afford the Claimant an opportunity to review and receive, without charge, all
relevant documents, information and records and to submit issues and comments in writing to the Administrator. The reviewer shall
take into account all comments, documents, records and other information submitted by the Claimant relating to the claim regardless
of whether the information was submitted or considered in the initial benefit determination.

 

19.5
Notice of Decision on Appeal. If the Administrator denies the appeal, it must provide to the Claimant, in writing or by electronic
communication, a notice which includes: (a)The specific reason(s) for the denial; (b)Specific references to the pertinent Agreement
provisions on which such denial is based; (c)A statement that the Claimant may receive on request all relevant records at no charge;
(d)A description of the voluntary procedures and deadlines, if any; (e)A statement of the Claimant’s right to sue under
Section 502(a) of ERISA; and (f)If an internal rule was relied on to make the decision, either a copy of the internal rule or
a statement that this information is available at no charge upon request.

 

19.6
Claims Procedures Mandatory. The internal claims procedures set forth in this Section are mandatory. If a Claimant fails to follow
these claims procedures, or to timely file a request for appeal in accordance with this Section, the denial of the Claim shall
become final and binding on all persons for all purposes.

 

    	 	12Document

Exhibit 10.45
CHENIERE ENERGY, INC. 
2020 INCENTIVE PLAN

PERFORMANCE STOCK UNIT AWARD AGREEMENT

1.         Award.  Cheniere Energy, Inc., a Delaware corporation (the “Company”), has awarded the undersigned Participant (for purposes of this Agreement, the “Participant”) performance stock units (this “Award”) effective as of the date set forth on the signature page hereto (the “Grant Date”) pursuant to the Company’s 2020 Incentive Plan (as amended or restated from time to time, the “Plan”).  Unless otherwise defined in this Performance Stock Unit Award Agreement (this “Agreement”), capitalized terms used herein shall have the meanings assigned to them in the Plan.

2.         Performance Stock Units.  The Company hereby awards the Participant the 
target number of performance stock units (“PSUs”) set forth in Schedule A (the “Target PSUs”).  Each PSU constitutes an unfunded and unsecured promise by the Company to deliver (or cause to be delivered) one share of common stock, $0.003 par value per share, of the Company (a “Share”) or the value of one Share, as provided in Paragraph 6 below.  The actual number of PSUs that will be earned is subject to the Committee’s certification of the level of achievement of the performance conditions set forth in Schedule A (the “Performance Metrics”) at the end of the applicable performance period (such earned PSUs, the “Earned PSUs”).  The number of Shares covered by the Earned PSUs may range from 0% to 300% of the Target PSUs; provided that the number of Shares will be rounded down to the nearest whole Share.  The Earned PSUs will be subject to vesting in accordance with Paragraph 3 below, and any PSUs that do not become Earned PSUs at the end of the performance period will be automatically forfeited without consideration.

3.         Vesting.  Subject to the Participant’s continued employment and Paragraphs 4 and 5, the Earned PSUs, if any, shall vest on the date on which the Committee certifies achievement of the Performance Metrics (the “Certification Date”).  The Certification Date will be within 75 days following the end of the performance period set forth in Schedule A.

4.         Termination of Employment or Services.  

(A)       Upon the termination of the Participant’s employment with the Company or an Affiliate prior to vesting (1) by the Company or an Affiliate due to the Disability of the Participant while performing Continuous Service or (2) due to the death of the Participant while performing Continuous Service, the Target PSUs shall be deemed to be the Earned PSUs and shall vest in full immediately subject, in the case of a termination due to Disability, to the Participant’s execution and delivery to the Company (and non-revocation of) a release of claims that becomes fully effective and irrevocable within fifty-five (55) days following the date of termination.  If a release is not timely executed and delivered by the Participant to the Company, or if such release is timely executed and delivered but is subsequently revoked by the Participant, then the Participant will automatically forfeit the PSUs covered by this Award effective as of the date of termination of employment.

(B)       Except as otherwise provided in (A) the Plan, this Agreement or other agreement between the Company and the Participant, (B) any severance plan under which the Participant is eligible for benefits (“Severance Plan”) or (C) the Company’s Retirement Policy, the Participant will automatically forfeit the PSUs covered by this Award on the termination, resignation, or 

removal of the Participant from employment with or services to the Company and its Affiliates for any reason prior to the date on which the PSUs vest.  In the event of any conflict among such arrangements, this Award will be treated in accordance with such arrangement that provides the Participant the most favorable treatment.  In the event that the Participant is eligible for benefits under a Severance Plan that is terminated prior to the date on which the Participant’s employment terminates and no successor plan governs the treatment of this Award on a termination of employment, then this Award will be treated in accordance with the terms, conditions, and covenants set forth in the Severance Plan and exhibits thereto as it existed immediately prior to its termination.

5.         Change in Control.  In the event of a Change in Control of the Company, this Award will be treated in accordance with the Plan, Severance Plan or other agreement between the Company and the Participant, if applicable, and in the event of any conflict among such arrangements, this Award will be treated in accordance with such arrangement that provides the Participant the most favorable treatment.

6.         Settlement; Dividend Equivalents; Withholding of Taxes.  

(A)       Subject to the Severance Plan or Retirement Policy, if applicable, and Paragraph 6(B), on or as soon as reasonably practicable, but in no event later than the sixtieth (60th) day, following the date on which the Earned PSUs vest as determined in accordance with Paragraph 3, 4 or 5: 

(i)        if the vested Earned PSUs have a Fair Market Value of equal to or less than $3,000,000, an amount of cash equal to the Fair Market Value of the vested Earned PSUs will be delivered in respect of such Earned PSUs, and 

(ii)       if the vested Earned PSUs have a Fair Market Value of greater than $3,000,000, cash will be delivered in respect of the number of vested Earned PSUs with a Fair Market Value of $3,000,000 (rounded down to the nearest whole number of vested Earned PSUs) and Shares will be delivered in respect of the balance of the remaining vested Earned PSUs; 

provided, however, that if vesting is contingent on the effectiveness of a release of claims, and the release period begins in one taxable year and ends in a subsequent taxable year, then the Shares and cash will be delivered in such subsequent taxable year.  The Fair Market Value of Earned PSUs determined pursuant to this Paragraph 6(A) shall be based on the average closing price of a Share for the 45 trading days preceding the end of the performance period as reported on NYSE American. All ordinary cash dividends that would have been paid upon the Shares underlying the vested Earned PSUs (whether settled in cash or Shares) had such Shares been issued as of the Grant Date (as determined by the Committee) will be paid to the Participant (without interest) on the date on which the Earned PSUs are settled in accordance with this Paragraph 6(A) to the extent that the Earned PSUs vest. 

(B)       The Company’s obligation to deliver Shares or cash under this Award is subject to the payment of all federal, state and local income, employment and other taxes required to be withheld or paid by the Company in connection with this Award.  The Company shall have the right to take any action as may be necessary or appropriate to satisfy any withholding obligations, provided, however, that except as otherwise agreed in writing by the Participant and the Company, if the Participant is an Executive Officer or an individual subject to Rule 16b-3, such tax
2

 withholding obligations will be effectuated by the Company withholding a number of Shares and/or an amount of cash that would otherwise be issued and delivered in respect of the Earned PSUs with an aggregate value (based on the Fair Market Value of the Shares) equal to the amount of such tax withholding obligations.

7.         Participant Covenants.

(A)       Non-Competition.  In exchange for the promises set forth herein, including the consideration set forth in Paragraph 1, and in order to protect the Company’s goodwill and other legitimate business needs, during the Participant’s employment with the Company and/or its Affiliates and for one year following the Participant’s termination of employment for any reason, the Participant will not, directly or indirectly, alone or jointly, with any person or entity, participate in, engage in, consult with, advise, be employed by, own (wholly or partially), possess an interest in, solicit the business of the vendors, suppliers or customers of the Company for, or in any other manner be involved with, any business or person that is engaged in business activities anywhere in the Territory that are competitive with the Business, provided, however, if the Participant voluntarily resigns without Good Reason (as defined in the Severance Plan), and not due to a Qualifying Retirement (as defined in the Retirement Policy), within three years following the Grant Date, this Paragraph 7(A) will only apply in the event the Company elects to make the payments set forth in Paragraph 7(E) subject the requirements of that Paragraph 7(E).  Notwithstanding the foregoing, the Participant shall not be prohibited from passively owning less than 1% of the securities of any publicly-traded corporation.  For purposes of this Paragraph 7(A), “Territory” means anywhere in which the Company engages in Business and “Business” means the business of (i) selling, marketing, trading or distributing liquefied natural gas and/or (ii) designing, permitting, constructing, developing or operating liquefied natural gas facilities and/or (iii) trading natural gas on behalf of a liquefied natural gas facility or facilities.  Notwithstanding the foregoing, the Participant shall not be prohibited from being employed by, or consulting for, an entity that has a division immaterial to the business of such entity in the aggregate, which division may compete with, or could assist another in competing with, the Company in the Business in the Territory (a “Competitive Division”), so long as the Participant is not employed in, and does not perform 
work for or otherwise provide services to, the Competitive Division.

(B)       Non-Solicitation.  In exchange for the promises set forth herein, including the consideration set forth in Paragraph 1, and in order to protect the Company’s goodwill and other legitimate business needs, during the Participant’s employment with the Company and/or its Affiliates and for one year following the Participant’s termination of employment for any reason, the Participant will not, directly or indirectly, do any of the following or assist any other person, firm, or entity to do any of the following:  (a) solicit on behalf of the Participant or another person or entity, the employment or services of, or hire or retain, any person who is employed by or is a substantially full-time consultant or independent contractor to the Company or any of its subsidiaries or affiliates, or was within six (6) months prior to the action; (b) induce or attempt to induce any employee of the Company or its affiliates to terminate that employee’s employment with the Company or such subsidiary or affiliate; (c) induce or attempt to induce any consultant or independent contractor doing business with or retained by the Company or its subsidiaries or affiliates to terminate their consultancy or contractual relationship with the Company or such subsidiary or affiliate or otherwise reduce the services they provide to the Company or such subsidiary or affiliate or (d) interfere with the relationship of the Company or any of its subsidiaries or affiliates with any vendor or supplier.
3

(C)       Confidentiality.  During employment and thereafter, the Participant shall maintain the confidentiality of the following information: proprietary technical and business information relating to any Company plans, analyses or strategies concerning international or domestic acquisitions, possible acquisitions or new ventures; development plans or introduction plans for products or services; unannounced products or services; operation costs; pricing of products or services; research and development; personnel information; manufacturing processes; installation, service, and distribution procedures and processes; customer lists; any know-how relating to the design, manufacture, and marketing of any of the Company’s services and products, including components and parts thereof; non-public information acquired by the Company concerning the requirements and specifications of any of the Company’s agents, vendors, contractors, customers and potential customers; non-public financial information, business and marketing plans, pricing and price lists; non-public matters relating to employee benefit plans; quotations or proposals given to agents or customers or received from suppliers; documents relating to any of the Company’s legal rights and obligations; the work product of any attorney employed by or retained by the Company; and any other information which is sufficiently confidential, proprietary, and secret to derive economic value from not being generally known including with respect to intellectual property inventions and work product. The Participant shall maintain in the strictest confidence and will not, directly or indirectly, intentionally or inadvertently, use, publish, or otherwise disclose to any person or entity whatsoever, any of the information of or belonging to the Company or to any agent, joint venture, contractor, customer, vendor, or supplier of the Company regardless of its form, without the prior written explicit consent of the Company.  The Participant acknowledges that the foregoing information is not generally known, is highly confidential and constitutes trade secrets or confidential information of the Company.  The Participant shall take reasonable precautions to protect the inadvertent disclosure of information.  The foregoing shall not apply to information that the Participant is required to disclose by applicable law, regulation, or legal process (provided that the Participant provides the Company with prior notice of the contemplated disclosure and cooperates with the Company at its expense in seeking a protective order or other appropriate protection of such information).  Notwithstanding the foregoing, nothing in this Agreement prohibits the Participant from reporting possible violations of federal law or regulation to any government agency or entity or making other disclosures that are protected under whistleblower provisions of law.  The Participant does not need prior authorization to make such reports or disclosures and is not required to notify the Company that the Participant 
has made any such report or disclosure.

(D)       Non-Disparagement.  During employment and thereafter, the Participant shall not make or publish any disparaging statements (whether written, electronic or oral) regarding, or otherwise malign the business reputation of, the Company, its affiliates or any of their respective officers, directors, managers, employees or partners.

(E)       Voluntary Resignation.  If (a) the Participant voluntarily resigns without Good Reason (and not due to a Qualifying Retirement) within three years following the Grant Date and (b) the Company elects to enforce the covenants in Paragraph 7(A), then the Company agrees, as further consideration for such covenants, to continue to pay the Participant his or her base salary (at the rate in effect at the time of the Participant’s voluntary resignation) in accordance with the Company’s regular payroll dates for one year following the date of voluntary resignation.  The payment of the Participant’s base salary in accordance with this Paragraph 7(E) will begin on the first payroll after the 60th day following the Participant’s voluntary resignation (with the first payment including the aggregate amount that would have been paid in the first sixty (60) days) subject to the Participant’s execution and delivery to the Company (and non-revocation) of a Release Agreement that becomes fully effective and irrevocable within fifty-five (55) days 
4

following the date of voluntary resignation.  If a Release Agreement is not timely executed and delivered to the Company by the Participant, or if such Release Agreement is timely executed and delivered but is subsequently revoked by the Participant, then the Participant will not be entitled to the base salary continuation set forth in this Paragraph 7(E).  The Participant agrees to promptly notify the Company of the date on which the Participant begins employment with a new employer in compliance with this Paragraph 7 (the “Commencement Date”) within 12 months following the Participant’s voluntary resignation.  The Company will not have any obligation to pay the Participant’s base salary in accordance with this Paragraph 7(E) after the Commencement Date.

(F)       Participant Acknowledgements.  

                     (i)            The Participant agrees that the restrictions in this Paragraph 7 are reasonable in light of the scope of the Company’s business operations, the Participant’s position within the Company, the interests which the Company seeks to protect, and the consideration provided to the Participant.  The Participant agrees that these restrictions go only so far as to protect the Company’s business and business interests, and that those interests are worth protecting for the continued success, viability, and goodwill of the Company.  

                    (ii)            The Participant expressly acknowledges that any breach or threatened breach of any of the terms and/or conditions set forth in this Paragraph 7 may result in substantial, continuing, and irreparable injury to the Company and its subsidiaries and affiliates for which monetary damages alone would not be a sufficient remedy.  Therefore, the Participant hereby agrees that, in addition to any other remedy that may be available to the Company (including pursuant to Paragraph 9), in the event of any breach or threatened breach of any of the terms and/or conditions set forth in this Paragraph 7, the Company shall be entitled to injunctive relief, specific performance or other equitable relief by a court of appropriate jurisdiction, without the requirement of posting bond or the necessity of proving irreparable harm or injury as a result of such breach or threatened breach.  Without limitation on the Company’s rights under the foregoing sentence or under Paragraph 9, (a) in the event of any actual breach of any of the terms and/or conditions set forth in Paragraph 7(A) or 7(B) during the term of such covenants, or (b) in the event of any actual breach of any of the terms and/or conditions set forth in Paragraphs 7(C) or (D) of this Agreement prior to the first anniversary of the date on which the Participant’s employment terminates for any reason:  (i) if the Award is unvested, then the Award will immediately be forfeited for no consideration; (ii) the Company will cease to be obligated to furnish the Participant any further payments or deliveries pursuant to this Agreement; and (iii) the Participant shall promptly repay to the Company an amount equal to the gain realized in respect of this Award within the three preceding years (which gain shall be deemed to be an amount equal to the aggregate (x) cash amount and (y) with respect to Shares, the Fair Market Value on the date on which the Award is settled delivered to the Participant under this Award within such three-year period); provided that the foregoing repayment obligations, and the cessation of further payments and benefits, shall be without prejudice to the Company’s other rights.  

                   (iii)            Notwithstanding any other provision to the contrary, the Participant acknowledges and agrees that the restrictions set forth in this Paragraph 7, as applicable, shall be tolled during any period of violation of any of the covenants therein and during any other period required for litigation during which the Company seeks to enforce such covenants against the Participant. 

8.         Cooperation.  Following the termination of the Participant’s employment with the Company for any reason, the Participant agrees (i) to reasonably cooperate with the Company and its directors, officers, attorneys and experts, and take all actions the Company may reasonably 
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request, including but not limited to cooperation with respect to any investigation, government inquiry, administrative proceeding or litigation relating to any matter in which the Participant was involved or had knowledge during the Participant’s employment with the Company and (ii) that, if called upon by the Company, the Participant will provide assistance with respect to business, personnel or other matters which arose during the Participant’s employment with the Company or as to which the Participant has relevant information, knowledge or expertise, with such cooperation including, but not limited to, completing job tasks in progress, transitioning job tasks to other Company personnel, responding to questions and being available for such purposes.  Any cooperation requests shall take into account the Participant’s personal and business commitments, and the Participant shall be reasonably compensated for the Participant’s time (if appropriate for the matter) and further reimbursed for any documented expenses (including reasonable attorney’s fees) incurred in connection with such cooperation within thirty (30) days of the Participant providing an invoice to the Company.

9.         Forfeiture/Clawback.  

(A)       The delivery of Shares or cash under this Award is subject to any policy (whether in existence as of the Grant Date or later adopted) established by the Company or required by applicable law providing for clawback or recovery of amounts that were paid to the Participant.  The Company will make any determination for clawback or recovery in its sole discretion and in accordance with any applicable law or regulation.

(B)       In addition to Paragraph 9(A) and notwithstanding anything to the contrary in this Agreement, if the Board or Committee determines that (i) any material misstatement of financial results has occurred as a result of the Participant’s conduct or (ii) the Participant has, without the consent of the Company, violated a non-competition, non-solicitation or non-disclosure covenant (including the covenants in Paragraph 7) between the Participant and the Company or any Affiliate, then the Board or Committee may in its sole discretion (a) determine that all or any portion of any unvested PSUs shall be forfeited for no consideration and/or (b) require the Participant to promptly repay to the Company any gain realized in respect of this Award within the three years preceding the date on which the Board or Committee determines that any of the events described in prongs (i) and (ii) above has occurred (which gain shall be deemed to be an amount equal to the aggregate (x) cash amount and (y) with respect to Shares, the Fair Market Value, on the date on which the Award is settled delivered to the Participant under this Award within such three-year period).  Unless otherwise required by law, the provisions of this Paragraph 9(B) shall apply during the Participant’s employment with the Company and/or its Affiliates and for one year following the Participant’s termination of employment for any reason.  The foregoing forfeiture and repayment obligations shall be without prejudice to any other rights that the Company may have.

10.       Effect of the Plan. This Award is subject to all of the provisions of the Plan and this Agreement, together with all of the rules and determinations from time to time issued by the Committee and/or the Board pursuant to the Plan, including the restrictions in the Plan on the transferability of awards.  In the event of a conflict between any provision of the Plan and this Agreement, the provisions of this Agreement shall control but only to the extent such conflict is permitted under the Plan.  By accepting this Award, the Participant acknowledges that he or she has received a copy of the Plan and agrees that the Participant will enter into such written representations, warranties and agreements and execute such documents as the Company may reasonably request in order to comply with applicable securities and other applicable laws, rules or regulations, or with this document or the terms of the Plan, the Severance Plan or the Cheniere Retirement Plan, as applicable.

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11.       Amendment and Termination; Waiver.  This Agreement, together with the Plan, constitutes the entire agreement by the Participant and the Company with respect to the subject matter hereof, and supersedes any and all prior agreements or understandings between the Participant and the Company with respect to the subject matter hereof, whether written or oral.  This Agreement may not be amended or terminated by the Company in a manner that would be materially adverse to the Participant without the written consent of the Participant, provided that the Company may amend this Agreement unilaterally (a) as provided in the Plan or (b) if the Company determines that an amendment is necessary to comply with applicable law (including the requirements of the Code).  Any provision for the benefit of the Company contained in this Agreement may be waived in writing, either generally or in any particular instance, by the Company.  A waiver on one occasion shall not be deemed to be a waiver of the same or any other breach on a future occasion.

12.       Unsecured Obligation.  The Company’s obligation under this Agreement shall be an unfunded and unsecured promise.  The Participant’s right to receive the payments and benefits contemplated hereby from the Company under this Agreement shall be no greater than the right of any unsecured general creditor of the Company, and the Participant shall not have nor acquire any legal or equitable right, interest or claim in or to any property or assets of the Company.  Nothing contained in this Agreement, and no action taken pursuant to its provisions, will create or be construed to create a trust of any kind or a fiduciary relationship between the Participant and the Company or any other person.

13.       No Right To Continued Employment.  Neither this Award nor anything in this Agreement shall confer upon the Participant any right to continued employment with the Company (or its Affiliates or their respective successors) or shall interfere in any way with the right of the Company (or its Affiliates or their respective successors) to terminate the Participant’s employment at any time.

14.       Tax Matters; No Guarantee of Tax Consequences.  This Agreement is intended to be exempt from, or to comply with, the requirements of Section 409A of the Code and this Agreement shall be interpreted accordingly; provided that in no event whatsoever shall the Company or any of its Affiliates be liable for any additional tax, interest or penalties that may be imposed on the Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code.  Each payment under this Agreement will be treated as a separate payment for purposes of Section 409A of the Code.  The Company makes no commitment or guarantee to the Participant that any federal or state tax treatment will apply or be available to any person eligible for benefits under this Agreement.

15.       Governing Law.  This Agreement shall be construed in accordance with and governed by the laws of the State of Delaware to the extent federal law does not supersede and preempt Delaware law (in which case such federal law shall apply).
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16.       Severability; Interpretive Matters.  In the event that any provision of this Agreement shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.  Whenever required by the context, pronouns and any variation thereof shall be deemed to refer to the masculine, feminine, or neuter, and the singular shall include the plural and vice versa.  The terms “includes” or “including” in this Agreement shall be construed as “including without limitation”, so that terms following “includes” or “including” are not exhaustive.  The captions and headings used in this Agreement are inserted for convenience and shall not be deemed a part of this Agreement granted hereunder for construction or interpretation.

17.       Counterparts.  This Agreement may be signed in any number of counterparts, each of which will be an original, with the same force and effect as if the signature thereto and hereto were upon the same instrument.

[Remainder of Page Blank – Signature Page Follows]

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the Grant Date 
indicated below.

                                                                                 						
	COMPANY:
	
	CHENIERE ENERGY, INC.
	By:	/s/ Hilary Ware
		Name: Hilary Ware
		Title: Chief Human Resources Officer

I hereby accept the Award subject to all of the terms and provisions hereof.  I acknowledge and agree that the Award shall vest and become payable, if at all, only during the period of my continued service with the Company or as otherwise provided in this Agreement (not through the 
act of issuing the Award).

                                                                                 						
	PARTICIPANT:
	By:	###PARTICIPANT_NAME###
		Name: ###PARTICIPANT_NAME###

Grant Date:  ###GRANT_DATE###

[Signature Page – Performance Stock Unit Award under 2020 Incentive Plan]
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