Document:

CERTAIN
CONFIDENTIAL INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND REPLACED WITH “[...***...]” BECAUSE
IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE
OR CONFIDENTIAL.

 

 

 

 

 

 

TURNKEY AGREEMENT WITH A GUARANTEED
MAXIMUM PRICE

 

for the

 

ENGINEERING, PROCUREMENT AND CONSTRUCTION

 

of the

 

BAKERSFIELD RENEWABLE FUELS PROJECT 

 

by and between

 

Bakersfield
Renewable Fuels, LLC

 

as Owner

 

and

 

CTCI AMERICAS, INC.

 

as Contractor

 

 

Dated as of the 18th Day of May, 2021

 

______________________________________________________________________________

 

    	 

    	 

    

TABLE OF CONTENTS

 

	Article 1 DEFINITIONS	1
	1.1   Defined Terms	1
	1.2   Interpretation	13
	Article 2 RELATIONSHIP OF OWNER, CONTRACTOR AND SUBCONTRACTORS	13
	2.1   Status of Contractor	13
	2.2   Key Personnel, Organization Chart and Contractor Representative.	13
	2.3   Subcontractors and Sub-subcontractors	14
	2.4   Subcontracts and Sub-subcontracts	14
	2.5   Contractor Acknowledgements	16
	Article 3 CONTRACTOR’S RESPONSIBILITIES	18
	3.1   Scope of Work	18
	3.2   Specific Obligations	19
	3.3   Design and Engineering Work	20
	3.4   Spare Parts	22
	3.5   Operator Training Program	22
	3.6   Environmental Regulations and Environmental Compliance	23
	3.7   Contractor’s Tools and Construction Equipment	23
	3.8   Employment of Personnel	23
	3.9   Clean-up	24
	3.10   Safety and Security	25
	3.11   Emergencies	25
	3.12   Permits	25
	3.13   Books, Records and Audits	26
	3.14   Tax Accounting	26
	3.15   Temporary Utilities, Roads, Facilities and Storage	26
	3.16   Subordination of Liens	27
	3.17   Hazardous Materials	27
	3.18   Environmental Releases	28
	3.19   Quality Assurance	28
	3.20   Reports and Meetings	29
	3.21   Payment	29
	3.22   Title to Materials Found	30
	3.23   Survey Control Points and Layout	30
	3.24   Owner-Supplied Items	30
	3.25   Cooperation with Others	30
	3.26   Responsibility for Property	31
	3.27   Compliance with Real Property Interests	31
	3.28   Explosives	31
	3.29   Used or Salvaged Materials	31
	3.30   Supervision of Owner’s Operation Personnel	32
	3.31   Nondiscrimination	32

    	 

    	 

    

	Article 4 OWNER’S RESPONSIBILITIES	32
	4.1   Payment	32
	4.2   Permits	32
	4.3   Access to the Site	32
	4.4   California Sales and Use Tax	32
	4.5   Legal Description and Survey	33
	4.6   Operation Personnel	33
	4.7   Owner-Supplied Items	33
	4.8   Existing Plant Equipment	33
	Article 5 COMMENCEMENT OF WORK, MILESTONE DATES, AND SCHEDULING OBLIGATIONS	33
	5.1   Commencement of Work	33
	5.2   Milestone Dates	33
	5.3   CPM Schedule	34
	5.4   Recovery and Recovery Schedule	35
	5.5   Acceleration	36
	Article 6 CHANGES; FORCE MAJEURE; AND OWNER-CAUSED DELAY	36
	6.1   Change Orders Requested by Owner	36
	6.2   Change Orders Requested by Contractor	38
	6.3   Compensation Adjustment; Contractor Documentation	40
	6.4   Change Orders Act as Accord and Satisfaction	40
	6.5   Timing Requirements for Notifications and Change Order Requests by Contractor	40
	6.6   Adjustment Only Through Change Order	41
	6.7   Force Majeure	42
	6.8   Delay Caused by Certain Conditions	42
	6.9   Delay	43
	6.10   Contractor Obligation to Mitigate Delay	43
	Article 7 Compensation AND PAYMENTS TO CONTRACTOR	43
	7.1   Compensation	43
	7.2   Guaranteed Maximum Price	43
	7.3   Direct Costs to be Reimbursed	44
	7.4   Overhead	48
	7.5   Contractor’s Fee	49
	7.6   Disallowed Costs	49
	7.7   Affiliate Costs	50
	7.8   Interim Payments	51
	7.9   Final Completion and Final Payment	52
	7.10   Payments Not Acceptance of Work	52
	7.11   Payments Withheld	53
	7.12   Interest on Late Payments	53
	7.13   Payments During Default	53
	7.14   Offset	53
	7.15   Payment of Amounts Withheld	53
	7.16   Conditions Precedent to Payment	54
	7.17   Savings	54

    ii

     

    

	Article 8 Taxes	54
	8.1   California Taxes	54
	Article 9 TITLE AND RISK OF LOSS	55
	9.1   Title	55
	9.2   Risk of Loss	55
	Article 10 INSURANCE	56
	10.1   Insurance	56
	10.2   Irre	57
	vocable Standby Letter of Credit	57
	10.3   Financial Statements and Material Adverse Change	58
	Article 11 OWNERSHIP OF DOCUMENTATION	59
	11.1   Ownership of Work Product	59
	11.2   License to Contractor’s Intellectual Property and Third Party Intellectual Property	60
	11.3   Return/Delivery of Certain Property	60
	11.4   Limitations on Use of Work Product	60
	11.5   Owner Provided Documents	60
	Article 12 COMPLETION	61
	12.1   Notice and Requirements for Mechanical Completion	61
	12.2   Notice and Requirements for Substantial Completion	61
	12.3   Owner Acceptance of Mechanical Completion and Substantial Completion	61
	12.4   Minimum Acceptance Criteria as a Condition of Substantial Completion	61
	12.5   Punchlist.	63
	12.6   Notice and Requirements for Final Completion	64
	12.7   Partial Occupancy and Use	64
	12.8   Long-Term Obligations	64
	Article 13 WARRANTY AND CORRECTION OF WORK	65
	13.1   Warranty	65
	13.2   Correction of Work Prior to Substantial Completion	66
	13.3   Correction of Work After Substantial Completion	67
	13.4   Owner-Supplied Items and Existing Plant Equipment	69
	13.5   Waiver of Implied Warranties	69
	13.6   Assignability of Warranties	69
	Article 14 GUARANTEE OF TIMELY COMPLETION AND DELAY LIQUIDATED DAMAGES	69
	14.1   Delay Liquidated Damages	69
	14.2   Early Completion Bonus	69
	Article 15 REPRESENTATIONS	70
	15.1   Contractor Representations	70
	15.2   Owner Representations	71
	Article 16 DEFAULT, TERMINATION AND SUSPENSION	71
	16.1   Default by Contractor	71

    iii

     

    

	16.2   Termination for Convenience by Owner	73
	16.3   Suspension of Work	74
	16.4   Suspension by Contractor	75
	16.5   Termination by Contractor	75
	Article 17 INDEMNITIES	75
	17.1   General Indemnification	75
	17.2   Owner’s Indemnity for Personal Injury and Property Damage	76
	17.3   Patent and Copyright Indemnification	76
	17.4   Excluded Claims	77
	17.5   Lien Indemnification	77
	17.6   Legal Defense	78
	17.7   Enforceability	79
	Article 18 DISPUTE RESOLUTION	79
	18.1   Arbitration	79
	18.2   Continuation of Work During Dispute	80
	Article 19 CONFIDENTIALITY	80
	19.1   Contractor’s Obligations	80
	19.2   Owner’s Obligations	80
	19.3   Definitions	81
	19.4   Exceptions	81
	19.5   Equitable Relief	81
	19.6   Term	81
	Article 20 LIMITATION OF LIABILITY	82
	20.1   Contractor Aggregate Liability	82
	20.2   Limitation on Contractor’s Liability for Delay Liquidated Damages	82
	20.3   Delay Liquidated Damages In General	82
	20.4   Consequential Damages	83
	Article 21 MISCELLANEOUS PROVISIONS	84
	21.1   Entire Agreement	84
	21.2   Amendments	84
	21.3   Interpretation	84
	21.4   Notice	84
	21.5   Severability	85
	21.6   Assignment	85
	21.7   No Waiver	86
	21.8   Governing Law	86
	21.9   Further Assurances	86
	21.10   Foreign Corrupt Practices Act	86
	21.11   Priority	86
	21.12   Restrictions on Public Announcements	87
	21.13   Parent Guarantee	87
	21.14   Counterparts	87
	21.15   Owner’s Lender	87
	21.16   Survival	88

    iv

     

    

LIST OF ATTACHMENTS AND SCHEDULES

 

	ATTACHMENT A	Scope of Work and Design Basis
	SCHEDULE A-1	BKRF Project Received Data Log
	SCHEDULE A-2	Reused Equipment Repair Plan
	SCHEDULE A-3	Pre-Effective Date Engineering Documentation
	ATTACHMENT B	Not Used 
	ATTACHMENT C  	Payment Schedule
	SCHEDULE C-1	Rates
	SCHEDULE C-2	Schedule of Values
	SCHEDULE C-3	Maximum Cumulative Payment Schedule
	ATTACHMENT D	Form of Change Order
	SCHEDULE D-1	Change Order Form
	SCHEDULE D-2	Unilateral Change Order Form
	SCHEDULE D-3	Owner’s Change Order Request Form
	SCHEDULE D-4	Contractor’s Change Notice Form 
	ATTACHMENT E	Milestone Dates 
	ATTACHMENT F	Key Personnel and Contractor’s Organization
	ATTACHMENT G	Approved Subcontractors
	ATTACHMENT H	Form of Notice to Proceed
	ATTACHMENT I	Form of Contractor’s Invoices
	SCHEDULE I-1	Form of Contractor’s Interim Invoice
	SCHEDULE I-2	Form of Contractor’s Final Invoice
	ATTACHMENT J	Owner’s Safety and Environmental Policies and Procedures
	ATTACHMENT K	Form of Lien and Claim Waivers 
	SCHEDULE K-1	Conditional Lien Waiver and Release upon Progress Payment

    v

     

    

 

	SCHEDULE K-2	Conditional Lien Waiver and Release upon Final Payment
	SCHEDULE K-3	Unconditional Lien Waiver and Release upon Final Payment
	SCHEDULE K-4	Contractor’s Final Claim Waiver and Release upon Final Payment
	SCHEDULE K-5	Subcontractor’s Final Claim Waiver and Release upon Final Payment
	 	 
	ATTACHMENT L	Form of Mechanical Completion Certificate
	ATTACHMENT M	Form of Substantial Completion Certificate
	ATTACHMENT N	Form of Final Completion Certificate
	ATTACHMENT O	Insurance Requirements
	ATTACHMENT P	Owner Permits
	ATTACHMENT Q	Performance Tests and Minimum Acceptance Criteria
	ATTACHMENT R	Reporting Requirements
	ATTACHMENT S	Rely Upon Information
	ATTACHMENT T	Site 
	ATTACHMENT U	Delay Liquidated Damages
	ATTACHMENT V	Owner-Supplied Items
	ATTACHMENT W	Not Used
	ATTACHMENT X	Form of Parent Guarantee
	ATTACHMENT Y	Not Used
	ATTACHMENT Z	Form of Consent Agreement
	ATTACHMENT AA	Form of Letter of Credit  
	ATTACHMENT BB	GMP Breakdown and Credits

 

 

    vi

     

    

ENGINEERING,
PROCUREMENT AND CONSTRUCTION AGREEMENT

 

THIS
ENGINEERING, PROCUREMENT AND CONSTRUCTION AGREEMENT (this “Agreement”), dated as of the 18th
Day of May, 2021 (the “Effective Date”), is entered into by and between Bakersfield
Renewable Fuels, LLC (“Owner”), and CTCI AMERICAS, INC. (“Contractor”
and, together with Owner, each a “Party” and together the “Parties”).

WHEREAS,
Owner entered into an agreement (“Owner’s Prior EPC Agreement”) with Arb, Inc. (“Owner’s
Prior EPC Contractor”) on April 30, 2020 to provide services for the engineering, procurement, construction, pre-commissioning,
commissioning, start-up and testing of a renewable diesel production facility and related facilities to be located near Bakersfield,
California (the “Site,” as further described in Attachment T) and, for various reasons, Owner
is terminating Owner’s Prior EPC Agreement with Owner’s Prior EPC Contractor and, pursuant to this Agreement, is replacing
Owner’s Prior EPC Contractor with Contractor; and

WHEREAS,
Owner desires to enter into an agreement with Contractor to take over from the Owner’s Prior EPC Contractor to
perform the remaining engineering, procurement, construction, pre-commissioning, commissioning, start-up and testing of the renewable
diesel production facility and related facilities (as more fully described in Attachment A, the “Project”)
at the Site, which also includes EPC Contractor taking responsibility for the work performed by Owner’s Prior EPC Contractor
as if Contractor had originally performed the work performed by Owner’s Prior EPC Contractor, all as further described herein;
and

WHEREAS,
Contractor, itself or through its vendors, suppliers, and subcontractors, desires to provide the foregoing engineering,
procurement, construction, pre-commissioning, commissioning, start-up and testing on a cost plus fee basis subject to a Guaranteed
Maximum Price (as described herein);

NOW
THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Parties, hereby agree as follows:

Article
1

DEFINITIONS

1.1 
Defined Terms. In addition to other defined
terms used throughout this Agreement, when used herein, the following capitalized terms have the meanings specified in this Section
1.1.

“Abnormal
Weather” means weather conditions abnormal to the Site and to the season of the year, including above normal continuous
days of precipitation, above normal amount of precipitation within a twenty four (24) hour period, or above normal days of extreme
cold or hot temperatures affecting installation/application of the Work due to manufacturer or specification limitations, in each
case as substantiated with evidence from a weather bureau or other authoritative source. Normal conditions at the Site shall be
defined as the average number of Days, amounts, or both over a five (5)-year period averaged per season.

    1

     

    

“Actual
Contract Sum” has the meaning set forth in Section 7.17.

“Affiliate”
means (i) any Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common
control with a Party, or (ii) any Person that, directly or indirectly, is the beneficial owner of fifty percent (50%) or more of
any class of equity securities of, or other ownership interests in, a Party or of which the Party is directly or indirectly the
owner of fifty percent (50%) or more of any class of equity securities or other ownership interests. For purposes of this definition,
“control” (including, with correlative meanings, the terms “controlled by” and “under common control
with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through the ownership of voting securities or otherwise.

“Affiliate
Costs” has the meaning set forth in Section 7.7.

“Affiliate
Subcontract” means (i) any agreement by Contractor with an Affiliate Subcontractor for the performance of any portion
of the Work, or (ii) any agreement by an Affiliate Subcontractor with another Affiliate Subcontractor for the performance of any
portion of the Work.

“Affiliate
Subcontractor” means any Subcontractor or Sub-subcontractor conducting design and engineering Work that is an Affiliate
of Contractor.

“Agreement”
means this Agreement for the performance of the Work (including all Attachments and Schedules attached hereto), as it may be amended
from time to time in accordance with this Agreement.

“Applicable
Codes and Standards” means any and all codes, standards or requirements set forth herein (including Attachment
A) or in any Applicable Law, which codes, standards and requirements shall govern Contractor’s performance of the Work,
as provided herein. In the event of an inconsistency or conflict between any of the Applicable Codes and Standards, the highest
performance standard as contemplated therein shall govern Contractor’s performance under this Agreement.

“Applicable
Law” means all laws, statutes, ordinances, certifications, orders (including presidential orders or proclamations),
tariffs, quotas, duties, decrees, injunctions, licenses, Permits, approvals, agreements, rules and regulations, including any conditions
thereto, of any Governmental Instrumentality having jurisdiction over any Party, all or any portion of the Site or the Project
or performance of all or any portion of the Work, or other legislative or administrative action of a Governmental Instrumentality,
or a final decree, judgment or order of a court which relates to the performance of Work hereunder or the interpretation or application
of this Agreement, including (i) any and all Permits, (ii) any Applicable Codes and Standards set forth in Applicable Law, and
(iii) any Applicable Law related to (y) conservation, improvement, protection, pollution, contamination or remediation of the environment
or (z) Hazardous Materials or any handling, storage, release or other disposition of Hazardous Materials.

“approval”
and “consent” means, unless specified otherwise herein, written approval and written consent. Wherever
in this Agreement a provision is made for the giving or issuing of any

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consent by a Party, unless otherwise
specified, such consent shall be in writing and the words “consent”, “approve”, “accept” or
“certify” are to be construed accordingly.

“Books
and Records” has the meaning set forth in Section 3.13.1.

“Business
Day” means every Day other than a Saturday, a Sunday or a Day that is an official holiday for employees of the federal
government of the United States of America.

“CAD”
has the meaning set forth in Section 3.3.5.

“Change
Order” means a written order issued by Owner to Contractor after the execution of this Agreement, in the form of
Schedule D-2, or a written instrument signed by both Parties after the execution of this Agreement in the form of Schedule
D-1, that authorizes an addition to, deletion from, suspension of, or any other modification or adjustment to the requirements
of this Agreement, including an addition to, deletion from or suspension of the Work or any modification or adjustment to any Changed
Criteria. Owner and Contractor are entitled to a Change Order in accordance with Article 6.

“Changed
Criteria” has the meaning set forth in Section 6.1.1.2.

“Changes
in Law” means any amendment, modification, superseding act, deletion, addition or change in or to Applicable Law
including tariffs that occurs and takes effect after the Effective Date, provided that Contractor did not know, or reasonably
would not have known, that such amendment, modification, superseding act, deletion, addition or change in or to Applicable Law
would occur following the Effective Date, provided further that a Change in Law shall not include (i) variances from any
applicable Permit granted by a Governmental Instrumentality, which are requested or promoted by Contractor to Owner to benefit
Contractor’s performance of the Work, (ii) additional restrictions or new or different obligations imposed by any Governmental
Instrumentality arising out of any violation of Applicable Law (including applicable Permits) by Contractor or any of its Subcontractors
or Sub-subcontractors, or (iii) changes to Tax laws where such Taxes are based upon Contractor’s inventory, revenue, income,
profits/losses or cost of finance or withholding Tax.

“Claims”
means liabilities, judgments, losses, costs (including court costs, reasonable attorneys’ fees and costs of investigation),
fines, penalties, expenses, damages, claims, suits and demands, of whatsoever kind or nature.

“Compensation”
has the meaning set forth in Section 7.1.

“Confidential
Information” has the meaning set forth in Section 19.3.

“Construction
Equipment” means the equipment, machinery, structures, scaffolding, materials, tools, supplies and systems, purchased,
owned, rented or leased by Contractor or its Subcontractors or Sub-subcontractors for use in accomplishing the Work, but not intended
for incorporation into the Project.

“Contractor”
has the meaning set forth in the preamble hereto.

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“Contractor
Indemnified Parties” means (i) Contractor, its parent, and each of their respective Affiliates, (ii) the respective
directors, officers, agents, members, partners, shareholders, employees, representatives and invitees of each Person specified
in clause (i) above, and (iii) Contractor’s Subcontractors and Sub-Subcontractors. A “Contractor Indemnified
Party” means any of the Contractor Indemnified Parties.

“Contractor
Representative” means that Person or Persons designated by Contractor in a written notice to Owner and acceptable
to Owner, who shall have complete authority to act on behalf of Contractor on all matters pertaining to this Agreement or the Work,
including giving instructions and making changes in the Work.

“Contractor-Supplied
Equipment” means all Equipment other than Owner-Supplied Items and Existing Plant Equipment.

“Contractor’s
Confidential Information” has the meaning set forth in Section 19.2.

“Contractor’s
Fee” has the meaning set forth in Section 7.5.

“Contractor’s
Intellectual Property” has the meaning set forth in Section 11.2.

“Cost
Savings” has the meaning set forth in Section 7.17.

“Corrective
Work” has the meaning set forth in Section 13.3.

“COVID-19”
means the Coronavirus pandemic.

“CPM
Schedule” has the meaning set forth in Section 5.3.1.

“Day”
means a calendar day.

“Default”
has the meaning set forth in Section 16.1.1.

“Defect”
or “Defective” has the meaning set forth in Section 13.1.1.

“Defect
Correction Period” means the period commencing upon Substantial Completion and ending eighteen (18) Months thereafter
(as may be extended pursuant to Section 13.3.2), except that with respect to Subcontractors, such period shall
end twelve (12) months after Substantial Completion (as may be extended pursuant to Section 13.3.2), unless Contractor can
obtain a longer period from such Subcontractors using commercially reasonable efforts.

“Delay
Liquidated Damages” has the meaning set forth in Section 14.1.

“Deposit
Payment” has the meaning set forth in Section 7.8.2.

“Design
Basis” means the basis of design and technical limits and parameters of the Project as set forth in Attachment
A.

“Direct
Costs of the Work” has the meaning set forth in Section 7.3.

    4

     

    

“Disallowed
Cost” has the meaning set forth in Section 7.6.

“Disclosing
Party” has the meaning set forth in Section 19.3.

“Dispute”
means any claim, dispute, controversy, difference, disagreement, or grievance (of any and every kind or type, whether based on
contract, tort, statute, regulation or otherwise) arising out of, connected with or relating in any way to this Agreement (including
the construction, validity, interpretation, termination, enforceability or breach of this Agreement).

“Drawings”
means the graphic and pictorial documents (in written or electronic format) showing the design, location and dimensions of the
Work, generally including plans, elevations, sections, details, schedules and diagrams, which are prepared as a part of and during
the performance of the Work.

“Effective
Date” has the meaning set forth in the preamble.

“EH&S”
has the meaning set forth in Section 3.10.

“Equipment”
means all equipment, materials, supplies and systems required for the completion of and incorporation into the Work, including
all Contractor-Supplied Equipment, Existing Plant Equipment, and all Owner-Supplied Items.

“Existing
Plant Equipment” means existing plant equipment at the Site, a portion of which is intended to be incorporated into
the Work of the Contractor, as more fully described in Attachment A.

“Final
Completion” means all obligations of Contractor under this Agreement (excluding only the completion of items which
survive the termination or expiration of this Agreement, including obligations for Warranties and correction of Defective Work
and any other obligations covered under Section 12.8) are fully and completely performed in accordance with the terms
of this Agreement, including: (i) the successful achievement of Mechanical Completion and Substantial Completion; (ii) any and
all Delay Liquidated Damages due and owing have been paid (directly, by offset, or by collection on the Letter of Credit, at Owner’s
sole discretion) to Owner; (iii) the completion of all Punchlist items; (iv) delivery by Contractor to Owner of a fully executed
Lien and Claim Waiver upon Final Payment in the forms of Schedules K-2 and K-4; (v) delivery by Contractor to Owner
of all documentation related to the Work required to be delivered under this Agreement including final, “as-built”
Drawings and Specifications and Owner’s Confidential Information; (vi) removal from the Site of all of Contractor’s,
Subcontractors’ and Sub-subcontractors’ personnel, supplies, waste, materials, rubbish, and temporary facilities; (vii)
Contractor shall have removed all Contractor Equipment and all Contractor stored materials from the Site; (viii) delivery by Contractor
to Owner of evidence acceptable to Owner that all Subcontractors and Sub-subcontractors have been fully and finally paid, including
fully executed Final Lien and Claim Waivers upon Final Payment from all Major Subcontractors in the forms in Schedules K-2
and K-5, and if requested by Owner, fully executed Final Lien and Claim Waivers upon Final Payment from Major Sub-subcontractors
in a form substantially similar to the forms in Schedules K-2 and K-5; (ix) delivery by Contractor to Owner of a
Final Completion Certificate in the form of Attachment N and as required under Section 12.6, which Owner has accepted
by

    5

     

    

signing such certificate; and (x) performance
by Contractor of all other obligations required under this Agreement for Final Completion.

“Final
Completion Certificate” has the meaning set forth in Section 12.6.

“Force
Majeure” means Abnormal Weather, storms, floods or lightning, tornadoes, hurricanes, earthquakes, named tropical
storms and other acts of God, wars, civil disturbances, terrorist attacks, revolts, insurrections, sabotage, commercial embargoes,
epidemics, quarantine restrictions, pandemics (including COVID-19), fires and explosions; provided that such act or event
(i) delays or renders impossible the affected Party’s performance of its obligations under this Agreement, (ii) is beyond
the reasonable control of the affected Party, not due to its fault or negligence and was not reasonably foreseeable, and (iii)
could not have been prevented or avoided by the affected Party through the exercise of due diligence, including the expenditure
of any reasonable sum taking into account the Guaranteed Maximum Price subject to Contractor’s entitlement to an adjustment
of the Guaranteed Maximum Price in accordance with Section 6.7. For avoidance of doubt, Force Majeure shall
not include any of the following: (a) economic hardship, (b) changes in market conditions, (c) late delivery or failure of
Construction Equipment or Equipment unless otherwise due to an event of Force Majeure, (d) labor availability (unless unavailability
is otherwise the result of Force Majeure events), strikes, or other similar labor actions, (e) climatic conditions (including rain,
snow, wind, temperature and other weather conditions) which do not constitute Abnormal Weather, or (f) COVID-19 related impacts
that do not (1) impose any greater obligations on Contractor or (2) impose requirements that are more stringent, in each case,
than those in effect on the Effective Date (including the requirements described in Section 3.10).

“GAAP”
means generally accepted accounting principles.

“Good
Engineering and Construction Practices” or “GECP” means the generally accepted practices,
methods, skill, care, techniques and standards employed by the United States engineering and construction industries with respect
to: (i) engineering, procurement, construction, pre-commissioning, commissioning, start-up and testing of renewable diesel production
facilities, all in compliance with Applicable Codes and Standards, Applicable Law, and the standards recommended by the suppliers
and manufacturers of Equipment provided hereunder; (ii) personnel and facility safety and environmental protection; (iii) optimizing
the scheduling of Work; and (iv) optimizing the reliability and availability of the Project under the operating conditions reasonably
expected at the Site, as specified in Attachment A. GECP are not intended to be limited to the optimum practices, methods,
techniques or standards to the exclusion of all others, but rather to be a spectrum of reasonable and prudent practices, methods,
techniques and standards employed by the United States engineering and construction industries.

“Governmental
Instrumentality” means any federal, state or local department, office, instrumentality, agency, board or commission
having jurisdiction over a Party or any portion of the Work, the Project or the Site.

“Guaranteed
Final Completion Date” has the meaning set forth in Section 5.2.2.

“Guaranteed
Maximum Price” or “GMP” has the meaning set forth in Section 7.2.

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“Guaranteed
Substantial Completion Date” has the meaning set forth in Section 5.2.1.

“Guarantor”
means CTCI Corporation.

“Hazardous
Materials” means any substance that under Applicable Law is considered to be hazardous or toxic or is or may be required
to be remediated, including (i) any petroleum or petroleum products, radioactive materials, asbestos in any form, transformers
or other equipment that contain dielectric fluid containing polychlorinated biphenyls and processes and certain cooling systems
that use chlorofluorocarbons, (ii) any chemicals, materials or substances which are now or hereafter become defined as or included
in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “extremely
hazardous wastes,” “restricted hazardous wastes,” “toxic substances,” “toxic pollutants,”
or any words of similar import pursuant to Applicable Law, or (iii) any other chemical, material, substance or waste, exposure
to which is now or hereafter prohibited, limited or regulated by any Governmental Instrumentality, or which may be the subject
of liability for damages, costs or remediation.

“Hourly
Rates” has the meaning set forth in Section 7.3.1.1.

“Indemnified
Party” means any Owner Indemnified Party or Contractor Indemnified Party, as the context requires.

“Indemnifying
Party” means Owner or Contractor, as the context requires.

“Investment
Grade” has the meaning set forth in Section 10.2.

“Invoice”
means Contractor’s request for a payment pursuant to Section 7.8 for progress payments and pursuant
to Section 7.9 for final payment, which invoice shall be in the form of Schedule I-1 for progress payments and Schedule
I-2 for final payment.

“JAMS”
has the meaning set forth in Section 18.1.

“Key
Personnel” or “Key Persons” has the meaning set forth in Section 2.2.1.

“Lender”
means (i) any and all Persons or successors in interest thereof (including any agent, trustee or other representative thereof)
lending money or extending credit to Owner for the interim or permanent financing or refinancing of the Project or for working
capital or other ordinary business requirements of the Project (including the maintenance, repair, replacement or improvement of
the Project); or (ii) any lessor under a lease finance arrangement relating to the Project.

“Letter
of Credit” has the meaning set forth in Section 10.2.

“Lien
and Claim Waiver(s) upon Final Payment” means the waiver and release provided to Owner by Contractor, Major Subcontractors
and Major Sub-subcontractors in accordance with the requirements of Section 7.9, which shall be in the
forms of Schedules K-2, K-3, K-4 and K-5.

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“Lien
Waiver(s) upon Progress Payment” means the waiver and release provided to Owner by Contractor, Major Subcontractors
and Major Sub-subcontractors in accordance with the requirements of Section 7.8.4, which shall be in
the form of Schedule K-1.

“Major
Subcontract” means (i) any Subcontract having an aggregate value in excess of five hundred thousand U.S. Dollars
(U.S.$ 500,000), (ii) multiple Subcontracts with one Subcontractor that have an aggregate value in excess of five hundred thousand
U.S. Dollars (U.S.$ 500,000), (iii) any Affiliate Subcontract entered into with an Affiliate Subcontractor or (iv) or any Subcontractor
performing a portion of the Work listed in Attachment G.

“Major
Subcontractor” means any Affiliate Subcontractor or Subcontractor with whom Contractor enters, or intends to enter,
into a Major Subcontract.

“Major
Sub-subcontract” means (i) any Sub-subcontract having an aggregate value in excess of five hundred thousand U.S.
Dollars (U.S.$ 500,000), or (ii) multiple Sub-subcontracts with one Sub-subcontractor that have an aggregate value in excess of
five hundred thousand U.S. Dollars (U.S.$ 500,000).

“Major
Sub-subcontractor” means any Sub-subcontractor with whom a Subcontractor or Sub-subcontractor enters, or intends
to enter, into a Major Sub-subcontract.

“Material
Adverse Change” has the meaning set forth in Section 10.3.2.

“Mechanical
Completion” means that, with respect to the Project that, with the exception of Punchlist items, all of the following
have occurred: (i) Contractor has completed all procurement, fabrication, assembly, erection, installation and pre-commissioning
checks and tests of all Work (including all Equipment and all systems and components of Equipment, such as all operating, protection,
fire, safety and other related systems required or necessary prior to start-up) to ensure that the entire Work, and each component
thereof, was correctly specified, designed, fabricated, assembled, erected and installed and is capable of safely commencing start-up
and commissioning within the requirements contained in this Agreement, all as set forth in greater detail in Attachment A
and the Mechanical Completion checklists agreed by Owner and Contractor in accordance with Section 12.1 (ii)
all pre-commissioning, commissioning, testing and start-up spare parts necessary for the Project to achieve Substantial Completion
have been delivered to the Site; (iii) Contractor has submitted an initial Punchlist of items as set forth in Section 12.5;
(iv) Contractor has delivered to Owner a Mechanical Completion Certificate in the form of Attachment L and Owner has
accepted such certificate by signing such certificate; and (v) performance by Contractor of all other obligations required under
the Agreement for Mechanical Completion.

“Mechanical
Completion Certificate” has the meaning set forth in Section 12.1.

“Milestone”
is a stage of completion of the Project, as more particularly described in Attachment E.

“Milestone
Dates” means the schedule of dates in which Contractor is required to achieve the Milestones, including the Guaranteed
Substantial Completion Date and the Guaranteed Final Completion Date, as more particularly described in Section 0
and Attachment E.

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“Minimum
Acceptance Criteria” or “MAC” has the meaning set forth in Attachment Q.

“Minimum
Acceptance Criteria Correction Period” has the meaning set forth in Section 12.4.1.

“Month”
means a Gregorian calendar month; “month” means any period of thirty (30) consecutive Days.

“Monthly”
means an event occurring or an action taken once every Month.

“Monthly
Progress Reports” has the meaning set forth in Section 3.20.1.2.

“Notice
to Proceed” or “NTP” means a full notice to proceed issued by Owner in accordance with
Section 5.2.3 for all of the Work.

“Offshore
Affiliate” means an offshore Affiliate of Contractor, which provides personnel to perform certain engineering Work.

“Overhead
Costs” has the meaning set forth in Section 7.4.2.

“Overhead
Fee” has the meaning set forth in Section 7.4.1.

“Owner”
has the meaning set forth in the preamble hereto.

“Owner
Indemnified Parties” means (i) the Owner, its parent, Lender, and each of their respective Affiliates, and (ii) the
respective directors, officers, agents, members, partners, shareholders, employees, representatives and invitees of each Person
specified in clause (i) above. An “Owner Indemnified Party” means any one of the Owner Indemnified Parties.

“Owner-Supplied
Items” has the meaning set forth in Section 4.7.

“Owner
Representative” means that Person or Persons designated by Owner in a written notice to Contractor who shall have
complete authority to act on behalf of Owner on all matters pertaining to the Work, including giving instructions and making changes
in the Work. Owner designates Richard Palmer as the Owner Representative. Notification of a change in Owner Representative shall
be provided to Contractor.

“Owner’s
Confidential Information” has the meaning set forth in Section 19.1.

“Owner’s
Prior EPC Agreement” has the meaning set forth in the Recitals.

“Owner’s
Prior EPC Contractor” has the meaning set forth in the Recitals.

“Parent
Guarantee” has the meaning set forth in Section 21.13.

“Party”
or “Parties” means Owner or Contractor and their permitted successors and permitted assigns.

“Payment
Schedule” means the terms for payment as set forth in Attachment C.

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“Performance
Tests” means those tests performed to determine whether the Work meets the Minimum Acceptance Criteria set forth
in Attachment Q, which tests shall be as set forth in such Attachment Q.

“Permit”
means any waiver, certificate, approval, consent, license, exemption, variance, franchise, permit, authorization or similar order
or authorization from any Governmental Instrumentality required to be obtained or maintained in connection with the Project, the
Site or the Work.

“Person”
means any individual or any company, joint venture, corporation, partnership, association, joint stock company, limited liability
company, trust, estate, unincorporated organization, Governmental Instrumentality or other entity having legal capacity, including
the Parties, any Subcontractors and Sub-subcontractors, and their respective directors, officers, agents, employees, representatives.

“Pre-Existing
Hazardous Materials” has the meaning set forth in Section 3.17.

“PDF”
means portable document format.

“Pre-Effective
Date Engineering Documentation” has the meaning set forth in Section 2.5.1.

“Process
License Agreements” means any agreements related to the supply of equipment for this Project between Owner and Haldor
Topsoe.

“Process
Licensor” means Haldor Topsoe A/S.

“Progress
As-Built Drawings and Specifications” means Drawings and Specifications that show all current “as-built”
conditions, as required under Attachment A.

“Project”
has the meaning set forth in the Recitals.

“Punchlist”
means a list of those finishing items required to complete the Work, the completion of which shall not interrupt, disrupt or interfere
with the safe and reliable operation or use of all or any part of the Project as contemplated by this Agreement, as more fully
described in Section 12.5 of this Agreement and Attachment A.

“Receiving
Party” has the meaning set forth in Section 19.3.

“Record
As-Built Drawings and Specifications” means final, record Drawings and Specifications showing the “as-built”
conditions of the completed Work, as required under Attachment A.

“Recovery
Schedule” has the meaning set forth in Section 5.4.

“Rely
Upon Information” means the information identified in Attachment S.

“Rules”
has the meaning set forth in Section 18.1.

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“Schedule
Bonus Date” has the meaning set forth in Section 14.2.1.

“Scope
of Work” means the description of Work to be performed by Contractor as set forth in this Agreement, including Section
3.1 and Attachment A.

“Show-up
Pay” has the meaning set forth in Section 7.3.1.6.

“Site”
has the meaning set forth in the Recitals.

“Specifications”
means those documents consisting of the written requirements for Equipment, standards and workmanship for the Work and performance
of related services, which are prepared as a part of and during the performance of the Work.

“Subcontract”
means an agreement by Contractor with a Subcontractor for the performance of any portion of the Work.

“Subcontractor”
means any Person who has a direct contract with Contractor to manufacture or supply Contractor-Supplied Equipment which is a portion
of the Work, to lease Construction Equipment to Contractor in connection with the Work, to perform a portion of the Work or to
otherwise furnish labor or Contractor-Supplied Equipment in connection with the Work.

“Substantial
Completion” means that all of the following have occurred with respect to the Project: (i) Mechanical Completion
has been achieved; (ii) Contractor has paid Delay Liquidated Damages (directly, by offset, or by collection on the Letter of Credit,
at Owner’s sole discretion) to Owner; (iii) Contractor and Owner have agreed upon a revised and updated Punchlist of items
as set forth in Section 12.5; (iv) Contractor has delivered to Owner a Substantial Completion Certificate
in the form of Attachment M and as required under Section 12.2 and Owner has accepted such certificate by signing
such certificate; (v) the Work is available for full commercial operation without any defect or deficiency (other than those covered
by the agreed upon Punchlist), and is capable of being safely operated in accordance with the requirements and specifications of
this Agreement and GECP, Applicable Law and Applicable Codes and Standards without damage to the Work, the Project, the Site or
any other property and without injury to any Person; (vi) all Performance Tests have been performed and as measured by such Performance
Tests, the Project has achieved or exceeded each of the Minimum Acceptance Criteria; (vii) Contractor has obtained all Permits
required to be taken under Contractor’s name for the Work other than those listed in Attachment P as being the responsibility
of Owner; (viii) Contractor has delivered to Owner fully executed Lien Waivers upon Progress Payment in the form of Schedule
K-1, fully executed Lien Waivers upon Progress Payment from all Major Subcontractors in the form of Schedule K-1 and,
if requested by Owner, fully executed Lien Waivers upon Progress Payment from all Major Sub-subcontractors substantially in the
form of Schedule K-1, covering all Work up to the date of Substantial Completion; (ix) Contractor has assigned to or provided
Owner with all Warranties to the extent Contractor is obligated to do so pursuant to this Agreement; and (x) Contractor has performed
all other obligations required under this Agreement for Substantial Completion.

“Substantial
Completion Certificate” has the meaning set forth in Section 12.2.

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“Sub-subcontract”
means any agreement by a Subcontractor with a Sub-subcontractor or by a Sub-subcontractor with another Sub-subcontractor for the
performance of any portion of the Work.

“Sub-subcontractor”
means any Person who has a direct or indirect contract with a Subcontractor or another Sub-subcontractor to manufacture or supply
Contractor-Supplied Equipment which comprises a portion of the Work, to lease Construction Equipment to Subcontractor or another
Sub-subcontractor in connection with the Work, to perform a portion of the Work or to otherwise furnish labor or Contractor-Supplied
Equipment in connection with the Work.

“Taxes”
means any and all taxes, assessments, levies, tariffs, duties, fees, charges and withholdings of any kind or nature whatsoever
and howsoever described, including gross receipts, payroll, income, franchise, value-added, sales and use, property, excise, capital
stock, import, stamp, transfer, employment, occupation, generation, privilege, utility, regulatory, energy, consumption, lease,
filing, recording and activity taxes, levies, duties, fees, charges, imposts and withholding, together with any and all penalties,
interest and additions thereto, but excluding any California state and local sales and use taxes.

“Third
Party Intellectual Property” has the meaning set forth in Section 11.2.

“Two
Week Look-ahead Schedule” has the meaning set forth in Section 5.3.4.

“U.S.
Dollars” or “U.S.$” means the legal tender of the United States of America.

“Unforeseen
Subsurface Conditions” means any underground subsurface conditions at the Site that (i) differ from those indicated
in any documents provided by or on behalf of Owner, (ii) differ materially from those ordinarily found to exist and generally
recognized as inherent in activities of the character provided for in the Agreement, and (iii) were not discovered or reasonably
discoverable by Contractor or any of its Subcontractors or Sub-subcontractors, acting in accordance with GECP, from inspections
and investigations performed by Contractor or any of its Subcontractors or Sub-subcontractors or from the general knowledge of
the Contractor or any of its Subcontractors or Sub-subcontractors relating to site conditions in the area of the Site. Such Unforeseen
Subsurface Conditions may include pre-existing refinery equipment and materials located underground, provided that such equipment
or materials meet the requirements of Unforeseen Subsurface Conditions.

“Warranty”
or “Warranties” has the meaning set forth in Section 13.1.1.

“Work”
means all obligations, duties and responsibilities required of Contractor pursuant to this Agreement, including all Construction
Equipment; pre-commissioning, commissioning, start-up and Performance Tests; engineering, procurement, fabrication, manufacture,
delivery and transportation of Contractor-Supplied Equipment; unloading, storage, assembly, erection, and installation of all Equipment;
construction, workmanship, labor, inspection, testing and any other services, work or things; in all cases furnished or used or
required to be furnished or used, by Contractor in the performance of this Agreement, including that set forth in Attachment
A and Section 3.1.1, any Corrective Work, and all other work required in order for the Project to achieve
the Minimum Acceptance Criteria. Without limiting the foregoing and notwithstanding anything

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to the contrary in this Agreement, the
Work shall include all work, including all engineering, procurement and construction work, performed by Owner’s Prior EPC
Contractor.

“Work
Product” has the meaning set forth in Section 11.1.

1.2 
Interpretation. The meanings specified in
this Article 1 are applicable to both the singular and plural. As used in this Agreement, the terms “herein,”
“herewith,” “hereunder” and “hereof” are references to this Agreement taken as a whole, and
the terms “include,” “includes” and “including” mean “including, without limitation,”
or variant thereof. Unless expressly stated otherwise, reference in this Agreement to an Article or Section shall be a reference
to an Article or Section contained in this Agreement (and not in any Attachments or Schedules to this Agreement) and a reference
in this Agreement to an Attachment or Schedule shall be a reference to an Attachment or Schedule attached to this Agreement. The
word “or” shall have the inclusive meaning represented by the phrase “and/or”.

Article
2

RELATIONSHIP OF OWNER, CONTRACTOR AND SUBCONTRACTORS

2.1 
Status of Contractor. The relationship of
Contractor to Owner shall be that of an independent contractor. Any provisions of this Agreement which may appear to give Owner
or the Owner Representative the right to direct or control Contractor as to details of performing the Work, or to exercise any
measure of control over the Work, shall be deemed to mean that Contractor shall follow the desires of Owner or the Owner Representative
in the results of the Work only and not in the means by which the Work is to be accomplished, and Contractor shall have the complete
right, obligation and authoritative control over the Work as to the manner, means or details as to how to perform the Work. Nothing
herein shall be interpreted to create a master-servant or principal-agent relationship between Contractor, or any of its Subcontractors
or Sub-subcontractors, and Owner. Nevertheless, Contractor shall strictly comply with all provisions, terms and conditions of this
Agreement, and the fact that Contractor is an independent contractor does not relieve it from its responsibility to fully, completely,
timely and safely perform the Work in strict compliance with this Agreement.

2.2 
Key Personnel, Organization Chart and Contractor Representative.

2.2.1.     
Key Personnel and Organization Chart. Attachment F sets forth Contractor’s organizational chart
to be implemented for the Work and also contains a list of key personnel (“Key Personnel” or “Key
Persons”) from Contractor’s organization who will be assigned to the Work. Owner shall have the right, but
not the obligation, at any time to request that Contractor replace any Key Person with another employee acceptable to Owner. Neither
Owner’s request for removal of any Key Person or Owner’s approval of any Key Personnel shall relieve Contractor of
its obligations under this Agreement. Except where a Key Person has retired, resigned (and not taken employment with any of the
Affiliates of Contractor), or been terminated (and not taken employment with any of the Affiliates of Contractor) or is otherwise
unavailable beyond the reasonable control of Contractor due to death, disability or serious illness, Contractor shall not remove
or replace any Key Personnel without Owner’s express prior written approval. Furthermore, Owner and Contractor acknowledge
and agree the continuity of the Key Personnel on this Project

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is a material requirement of this
Agreement, and that replacement of a Key Person will be detrimental to the Owner and the overall quality of the Work.

2.2.2.     
Contractor Representative. Contractor designates Don Chaney as the Contractor Representative. The Contractor
Representative is a Key Person.

2.3 
Subcontractors and Sub-subcontractors. Owner
acknowledges and agrees that Contractor intends to have portions of the Work accomplished by Subcontractors pursuant to written
Subcontracts between Contractor and such Subcontractors, and that such Subcontractors may have certain portions of the Work performed
by Sub-subcontractors. All Subcontractors and Sub-subcontractors shall be reputable, qualified firms with an established record
of successful performance in their respective trades performing identical or substantially similar work. All contracts with Subcontractors
and Sub-subcontractors shall be consistent with the terms and provisions of this Agreement. No
Subcontractor or Sub-subcontractor is intended to be or shall be deemed a third-party beneficiary of this Agreement.
Contractor shall be fully responsible to Owner for the acts and omissions of Subcontractors and Sub-subcontractors and of Persons
directly or indirectly employed by any of them, as Contractor is for the acts or omissions of Persons directly employed by Contractor.
The work of any Subcontractor or Sub-subcontractor shall be subject to inspection by Owner, Lender or any of their representative
to the same extent as the Work of Contractor. All Subcontractors and Sub-subcontractors and their respective personnel are to be
instructed by Contractor in the terms and requirements of Owner-approved access, safety and environmental protection policies and
procedures. In the event that any personnel do not adhere to such policies and procedures, such personnel shall be removed by Contractor.
In no event shall Contractor be entitled to any adjustment of the Guaranteed Maximum Price or Milestone Dates as a result of compliance
with such policies and procedures or any removal of personnel necessitated by non-compliance. Nothing contained herein shall create
any contractual relationship between any Subcontractor and Owner, or between any Sub-subcontractor and Owner, or obligate Owner
to pay any amounts of any nature to any Subcontractor or Sub-subcontractor.

2.4 
Subcontracts and Sub-subcontracts.

2.4.1.     
Proposed Major Subcontractors and Major Sub-subcontractors.

2.4.1.1.                       
Approvals. As a part of the Work, Contractor shall provide all necessary services related to the bidding of Major Subcontracts
by new or replacement Major Subcontractors, including the following: (a) preparing lists of prospective bidders; (b) preparing
proposed forms of Subcontract and purchase orders; (c) establishing bid schedules; (d) advertising for bids and developing bidder
interest in the Project; (e) furnishing information concerning the Project to prospective bidders; (f) conducting pre-bid conferences;
(g) receiving bids and analyzing bids; (h) investigating the acceptability and responsibility of Subcontractors and advising Owner
of such evaluations; (i) negotiating with Subcontractors concerning any matter related to the Project; and (j) such other services
required by Owner with respect to the bidding process. Within forty-five (45) Days after NTP, Contractor shall submit its procurement
process to Owner for

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approval, which at a minimum shall
include a requirement to obtain at least three (3) bids from three competitive bidders for each portion of the Work that is awarded
to a Major Subcontractor to the extent commercially available, provided that no such procurement process is required for
the Subcontractors listed in Attachment G. Contractor shall be responsible for Major Subcontractor bid solicitation, scope
confirmation, and bid evaluation and shall keep all bids, scoping documents and evaluations in an organized format and available
to Owner at any time. Contractor shall prepare, on a form acceptable to Owner, an Owner authorization sheet which summarizes Contractor’s
proposed award to a Major Subcontractor. Contractor shall obtain Owner authorization prior to the award of any Major Subcontract
(unless such Major Subcontract is with a Subcontractor listed in Attachment G, as such Subcontractors have already been
approved), but such Owner approval shall not relieve Contractor of its responsibility of Subcontractors. Contractor shall also
ensure that all Major Subcontractors include in their Subcontracts with Major Sub-subcontractors the requirements in this Section
2.4.1.

2.4.1.2.                       
Prior Subcontracts with Owner’s Prior EPC Contractor. Contractor, at its option, may either take assignment of existing
subcontracts with Owner’s Prior EPC contractor, enter into new Subcontracts with existing subcontractors, or enter into new
subcontracts with new subcontractors. In all cases and notwithstanding anything to the contrary in this Agreement, Contractor assumes
all responsibility for such subcontractors, with such subcontractors being considered Subcontractors under this Agreement, and
the responsibility under such subcontracts, with such subcontracts being considered Subcontracts under this Agreement. Sections
2.4.1 and 2.4.5 shall not apply to the existing subcontracts with Owner’s Prior EPC contractor that Contractor takes
assignment of.

2.4.1.3.                       
Contractor may use an Offshore Affiliate to perform certain engineering Work. Contractor shall be fully responsible for
the Work and all acts and omissions of such Offshore Affiliate, and such Offshore Affiliate shall be bound by the terms of this
Agreement.

2.4.2.     
Selection. Subject to the terms of Section 2.4.1, in the event that Contractor is considering the selection
of a Subcontractor or Sub-subcontractor that would qualify as a Major Subcontractor or Major Sub-subcontractor, or is considering
replacing a Major Subcontractor or Major Sub-subcontractor, Contractor shall (i) notify Owner of its proposed Major Subcontractor
or Major Sub-subcontractor as soon as possible during the selection process and furnish to Owner all information reasonably requested
by Owner with respect to Contractor’s selection criteria (including copies of bid packages furnished to prospective Major
Subcontractors and Major Sub-subcontractors and the qualifications and responding bids of the proposed Major Subcontractors or
Major Sub-subcontractors), and (ii) notify Owner no less than fifteen (15) Days prior to the execution of a Major Subcontract
with a Major Subcontractor or Major Sub-subcontract. Owner shall have the discretion, not to be unreasonably exercised, to reject
any proposed Major Subcontractor or Major Sub-subcontractor for a Major Subcontract or Major Sub-subcontract. Contractor shall
not enter into any Major Subcontract with a proposed Major Subcontractor or Major Sub-subcontract with a Major Sub-subcontractor
that is rejected by Owner in accordance

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with the preceding sentence. Owner
shall undertake in good faith to review the information provided by Contractor pursuant to this Section 2.4.1.1 expeditiously
and shall notify Contractor of its decision to accept or reject a proposed Major Subcontractor or Major Sub-subcontractor as soon
as practicable after such decision is made. Failure of Owner to accept a proposed Major Subcontractor or Major Sub-subcontractor
within fifteen (15) Days shall be deemed to be acceptance of such Major Subcontractor or Major Sub-subcontractor.

2.4.3.     
Other Additional Proposed Subcontractors and Sub-subcontractors. For any Subcontractor not covered by Section 2.4.1,
Contractor shall, within fifteen (15) Days prior to the selection of any such Subcontractor, notify Owner in writing of the selection
of such Subcontractor and inform Owner generally what portion of the Work such Subcontractor is performing at the Site.

2.4.4.     
Delivery of Major Subcontracts and Major Sub-subcontracts. Contractor shall furnish Owner with a copy of all
Major Subcontracts and Major Sub-subcontracts within ten (10) Days after execution thereof and, within ten (10) Days of Owner’s
request, furnish Owner with a copy of any other Subcontracts or Sub-subcontracts. Notwithstanding the above, Owner’s receipt
and review of any Subcontracts or Sub-subcontracts shall not relieve the Contractor of any obligations under this Agreement nor
shall such action constitute a waiver of any right or duty afforded Owner under this Agreement, or approval of or acquiescence
in a breach hereunder.

2.4.5.     
Terms of Major Subcontracts and Major Sub-subcontracts. In addition to the requirements in Section 2.3
and without in any way relieving Contractor of its full responsibility to Owner for the acts and omissions of Subcontractors and
Sub-subcontractors, each Major Subcontract and each Major Sub-subcontract shall contain the following provisions:

2.4.5.1.                       
the Major Subcontract and the Major Sub-subcontract may be assigned to Owner without the consent of the respective Major
Subcontractor or Major Sub-subcontractor; and

2.4.5.2.                       
the Major Subcontractor and the Major Sub-subcontractor shall comply with and perform for the benefit of Owner all requirements
and obligations of Contractor to Owner under this Agreement, as such requirements and obligations are applicable to the performance
of the work under the respective Major Subcontract or Major Sub-subcontract, including the competitive bidding process for Major
Subcontractors in substance the same as that included in Section 2.4.1, an indemnity in substance the same as that included
in Article 17, and the insurance requirements specified in Article 10.

2.5 
Contractor Acknowledgements.

2.5.1.     
The Agreement. Prior to the execution of this Agreement, Contractor has examined the documents comprising
the entirety of Attachment A and all information contained therein (including the drawings, specifications and other documentation
referenced in Schedule A-3 that was developed by Owner’s Prior EPC Contractor or its

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Affiliates or their subcontractors
(“Pre-Effective Date Engineering Documentation”)). Contractor understands and agrees that the Pre-Effective
Date Engineering Documentation is not complete, and that Contractor shall, as part of the Work, complete the engineering in accordance
with the requirements of this Agreement. Contractor also understands and agrees that, except with respect to Rely Upon Information,
it is responsible for any inaccuracies, errors or omissions in the Pre-Effective Date Engineering Documentation (as well as with
respect to the remainder of Attachment A), as Contractor has examined the Pre-Effective Date Engineering Documentation and
either verified the accuracy of Pre-Effective Date Engineering Documentation or shall during the performance of the Work modify
the Pre-Effective Date Engineering Documentation to correct such inaccuracies, errors or omissions without any increase to the
Guaranteed Maximum Price. Contractor has included in the Guaranteed Maximum Price, Milestone Dates and other obligations what it
believes is sufficient contingency to account for any such circumstances. Except with respect to Rely Upon Information identified
in Attachment S, Contractor represents that such information is accurate, adequate and complete to perform the Work, including
finishing the engineering and detail design, finishing procurement, and constructing, pre-commissioning, commissioning, starting-up
and testing the Project in accordance with all requirements of this Agreement.

2.5.2.     
Conditions of the Site.

2.5.2.1.                       
Contractor further agrees that it understands the climate and terrain related to the Site (including site conditions for
Work performed in offsite locations) that it may encounter in performing the Work in accordance with the Milestone Dates. Contractor
warrants that it has the experience, resources, qualifications and capabilities at its disposal to perform the Work in accordance
with the Milestone Dates. Subject to Section 2.5.2.2, Contractor assumes all risks related to, and waives any right to claim
an adjustment in the Guaranteed Maximum Price or the Milestone Dates in respect of, any failure to timely perform the Work in accordance
with the Milestone Dates as a result of any conditions at the Site or at any other location where the Work is performed, which
shall include: (i) river levels (excluding Force Majeure events), topography and subsurface soil conditions (subject to the terms
of Section 2.5.2.2); (ii) climatic conditions and seasons; (iii) availability of laborers, Subcontractors, Sub-subcontractors
and Construction Equipment; (iv) adequate availability and transportation of Equipment; and (v) breakdown or other failure
of Construction Equipment or Contractor’s or its Subcontractor’s computer equipment (excluding breakdown or other failures
caused by Force Majeure events).

2.5.2.2.                       
Notwithstanding Section 2.5.2.1, if Contractor encounters Unforeseen Subsurface Conditions in the performance of
the Work that materially and adversely affect Contractor’s actual cost to perform the Work or that delay (as such term is
defined in Section 6.9) Contractor’s performance of the Work, Contractor shall be entitled to request a Change Order
for an adjustment to the Guaranteed Maximum Price to the extent of the material and adverse effect (which costs shall be adequately
documented and supported) or a time extension to the Guaranteed Substantial Completion Date, as applicable, pursuant to Section

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6.2.1.6, provided that Contractor
complies with the notice and Change Order request requirements set forth in Sections 6.2 and 6.5, uses all reasonable
efforts not to disturb such Unforeseen Subsurface Conditions prior to Owner’s investigation and, with respect to claims for
costs for delay or schedule relief for delay, satisfies the requirements of Section 6.8.

2.5.3.     
Applicable Law and Applicable Codes and Standards. Contractor has investigated to its satisfaction Applicable
Law and Applicable Codes and Standards, (excluding environmental codes, regulations, and air permit as related to Equipment), and
warrants that it can perform the Work in accordance with Applicable Law and Applicable Codes and Standards. Contractor shall perform
the Work in accordance with Applicable Law and Applicable Codes and Standards, whether or not such Applicable Law or Applicable
Codes and Standards came into effect before the Effective Date or during the performance of the Work; provided, however,
Contractor shall be entitled to a Change Order for Changes in Law to the extent allowed under Section 6.2.1.1, provided
that Contractor complies with the notice and Change Order request requirements set forth in Sections 6.2 and 6.5,
and, with respect to claims for costs for delay or schedule relief for delay, satisfies the requirements of Section 6.8.

Article
3

CONTRACTOR’S RESPONSIBILITIES

3.1 
Scope of Work.

3.1.1.     
Generally. Subject to Section 3.1.4, the Work shall include all engineering, procurement, construction,
pre-commissioning, commissioning, start-up and testing of Contractor-Supplied Equipment; assembly, erection, installation, delivery,
transportation, storage and construction of all Equipment; evaluation, modification, repair, and testing of Existing Plant Equipment
as required in Section 3.1.3 and Attachment A; all Construction Equipment as required for the Work, labor, workmanship,
inspection, manufacture, fabrication, installation, design, delivery, transportation, storage and all other items or tasks that
are required to achieve Mechanical Completion, Substantial Completion and Final Completion of the Project in accordance with the
requirements of this Agreement, including achieving the Minimum Acceptance Criteria. Contractor shall perform the Work in accordance
with GECP, Applicable Law, Applicable Codes and Standards, and all other terms and provisions of this Agreement, with the explicit
understanding that the Facility will operate as a renewable diesel production facility meeting all requirements and specifications
of this Agreement, including Applicable Codes and Standards, Applicable Law and the Warranties, and Contractor shall, as part of
the Work, ensure the Project achieves the Minimum Acceptance Criteria. It is understood and agreed that the Work shall include
all work that can reasonably be inferred in accordance with GECP as required in accordance with this Agreement, excluding only
those items which Owner has specifically agreed to provide under the terms of this Agreement. Accordingly, if any work is required
to achieve the Minimum Acceptance Criteria or meet any other requirement of this Agreement, Contractor shall perform such work
without an increase in the Guaranteed Maximum Price, regardless of whether such work is described in Attachment A or the
Agreement, unless and only if it is an express exception listed in Section 3.1.4. Without

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limiting the generality of the
foregoing, the Work is more specifically described in Attachment A.

3.1.2.     
Without limiting Section 3.1.1 and notwithstanding anything to the contrary in this Agreement, the Work shall include all
work, including all engineering, procurement and construction work, performed by Owner’s Prior EPC Contractor related to
the Project, as Contractor is taking responsibility for such work as if it performed the Work itself, and Contractor waives all
claims for an adjustment to the Guaranteed Maximum Price or any Milestone Date or any other Changed Criteria relating to the performance
by Owner’s Prior EPC Contractor, and such claims shall not be the basis for Contractor’s failure to achieve the requirements
of this Agreement, including the Minimum Acceptance Criteria. Without limiting the foregoing, to the extent that Owner’s
Prior EPC Contractor performed defective work under Owner’s Prior EPC Agreement that was not performed pursuant to a Subcontract
and which Owner is unable to assign its rights against Owner’s Prior EPC Contractor to Contractor to enforce the warranties
related to such defective work, Owner shall reasonably cooperate with Contractor and make reasonable efforts to enforce such warranties
against Owner’s Prior EPC Contractor for defective work; provided that, (i) in no event does the foregoing relieve Contractor
of its responsibilities for the Work (including any work performed by Owner’s Prior EPC Contractor) or relieve Contractor
of any liability for the Work (including any work performed by Owner’s Prior EPC Contractor), and (ii) such reasonable efforts
shall not require litigation or arbitration against Owner’s Prior EPC Contractor.

3.1.3.     
Existing Plant Equipment. Contractor shall evaluate, modify, repair, and test the Existing Plant Equipment
as necessary to perform the Work and achieve the Minimum Acceptance Criteria, except that Contractor’s responsibility to
evaluate, modify or repair the Existing Plant Equipment listed in Attachment A, Schedule A-2 is limited to the requirements set
forth therein.

3.1.4.     
Exception to Scope of Work. Contractor shall not be responsible for providing (i) those Permits listed in
Attachment P as being the responsibility of Owner; (ii) those requirements set forth under Section 4.3; (iii)
the survey control point pursuant to Section 4.5; and (iv) the Owner-Supplied Items.

3.2 
Specific Obligations. Without limiting the
generality of Section 3.1 or the requirements of any other provision of this Agreement, Contractor shall:

3.2.1.     
procure, supply and transport all Contractor-Supplied Equipment;

3.2.2.     
unload, handle, properly store, assemble, erect and install all Equipment;

3.2.3.     
provide construction, construction management (including the furnishing of all Construction Equipment and all Site supervision
and craft labor), civil/structural, electrical, instrumentation, field design, inspection and quality control services required
to ensure that the Work is performed in accordance herewith;

3.2.4.     
negotiate all guarantees, warranties, delivery schedules and performance requirements with all Subcontractors so that all
Subcontracts are consistent with this

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Agreement, as set forth in Sections
2.3 and 2.4, to the extent that they are commercially available;

3.2.5.     
pay Subcontractors in a timely fashion in accordance with the respective Subcontracts;

3.2.6.     
ensure that the Work is performed in accordance with the Milestone Dates;

3.2.7.     
replace any Subcontractor(s) who fails to perform its Subcontract obligations;

3.2.8.     
conduct and manage all pre-commissioning, start-up operations, commissioning, Performance Tests and other testing of the
Project, while supervising operations and maintenance personnel provided by Owner and coordinating with Process Licensor personnel;

3.2.9.     
provide training for Owner’s operating and maintenance personnel per Section  3.5;

3.2.10. 
Reserved;

3.2.11. 
engineer, procure, construct, pre-commission, commission, start up and test all utilities on the Site up to the applicable
interconnection points, as further set forth in this Agreement and Attachment A; and

3.2.12. 
perform design and engineering Work in accordance with this Agreement, including that specified in Section 3.3.

3.3 
Design and Engineering Work.

3.3.1.     
General. Contractor shall, as part of the Work, perform the design and engineering Work necessary to achieve
the requirements of this Agreement, including Minimum Acceptance Criteria.

3.3.2.     
Drawings and Specifications. Upon receipt of NTP, Contractor shall prepare any remaining Drawings and Specifications
required for the Work. The Drawings and Specifications shall be based on the requirements of this Agreement, including the Scope
of Work, Design Basis, GECP, Applicable Codes and Standards, Applicable Law, and all applicable provisions of this Agreement.

3.3.3.     
Review Process.

3.3.3.1.                       
Not used.

3.3.3.2.                       
Submission by Contractor. Contractor shall submit copies of the Drawings and Specifications to Owner for formal review,
comment, disapproval and approval in accordance with Attachment A. Owner shall have up to seven (7) Business Days from its
receipt of Drawings and Specifications

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submitted in accordance with this
Section 3.3.3.2 to issue written comments, proposed changes or written approvals or disapprovals of the submission of such
Drawings and Specifications to Owner.

3.3.3.3.                       
No Owner Response. If Owner does not issue any comments, proposed changes or written approvals or disapprovals within
the time period set forth in Section 3.3.3.2, Contractor may proceed with the development of such Drawings and Specifications
and any construction relating thereto.

3.3.3.4.                       
Disapproval by Owner. If Owner disapproves the Drawings or Specifications, Owner shall provide Contractor with a
written statement of the reasons for such rejection within the time period required for Owner’s response for disapproval
of Drawings and Specifications. Contractor shall provide Owner with revised and corrected Drawings and Specifications as soon as
possible thereafter and Owner’s rights with respect to the issuing of comments, proposed changes or approvals or disapprovals
of such revised and corrected Drawings or Specifications are governed by the procedures specified above in Section 3.3.3.2;
provided that Contractor shall not be entitled to any extensions of time to the Milestone Dates, an adjustment to the Guaranteed
Maximum Price or an adjustment to any other Changed Criteria, unless such disapproval is due to one or more material changes required
by Owner to any such Drawings or Specifications and not the result of such Drawings or Specifications non-compliance with the requirements
of the Agreement and such disapproval adversely impacts Contractor’s costs or ability to perform the Work in accordance with
the Milestone Dates and Contractor complies with and meets the requirements under Article 6.

3.3.3.5.                       
Approval by Owner. If Owner provides written approval of the Drawings and Specifications, such Drawings and Specifications
shall be the Drawings and Specifications that Contractor shall use to construct the Work; provided that Owner’s review
or approval of any Drawings and Specifications shall not in any way be deemed to limit or in any way alter Contractor’s responsibility
to perform and complete the Work in strict accordance with the requirements of this Agreement.

3.3.4.     
Design Licenses. Contractor shall perform all design and engineering Work in accordance with Applicable Law
and Applicable Codes and Standards, and all Drawings, Specifications and design and engineering Work shall be signed and stamped
by design professionals licensed in accordance with Applicable Law.

3.3.5.     
Format of Deliverables. Unless otherwise expressly provided under this Agreement, all Drawings and Record
As-Built Drawings prepared by Contractor or its Subcontractors or Sub-subcontractors under this Agreement shall be prepared using
computer aided design (“CAD”). All CAD drawing files shall be in fully operable and editable native format
in the latest commercially available version of Contractor’s preferred software. In addition, all Record As-Built Drawings
and Specifications shall be provided to Owner in fully operable and editable native format in the latest commercially available
version of AutoCAD®. Contractor shall provide all other deliverables in fully operable and

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editable native format in such
software as specified by Owner, unless, with respect to such other deliverables, the only output available is in PDF.

3.3.6.     
As-Built Drawings and Specifications. During construction, Contractor shall keep an up-to-date, redlined,
marked set of Progress As-Built Drawings and Specifications on the Site as required under Attachment A. As a condition precedent
to Final Completion, Contractor shall deliver to Owner the Record As-Built Drawings and Specifications in accordance with Attachment
A, which shall include delivery of final as-built drawing files for Record As-Built Drawings in fully operable and editable
native format in the latest commercially available version of AutoCAD®.

3.3.7.     
Other Information. Contractor shall deliver copies of all other documents required to be delivered pursuant
to Attachment A within and in accordance with the requirements set forth in Attachment A, including in fully operable
and editable native format in such software as specified by Owner, and in accordance with the timing set forth in Attachment
A, provided that, with respect to other documents, if the fully operable and editable native format is not available, Contractor
may provide such documents in PDF.

3.4 
Spare Parts.

3.4.1.     
Commissioning Spare Parts. Contractor shall provide all pre-commissioning, commissioning, testing and start-up
spare parts necessary for Contractor-Supplied Equipment to achieve Substantial Completion and shall, prior to and as a condition
precedent to achieving Mechanical Completion, deliver such spare parts to the Site; provided that, Contractor does not have to
deliver such spare parts already delivered by Owner’s Prior EPC Contractor, if any, and accepted by Owner. The cost associated
with all Work related to such pre-commissioning, commissioning, testing and start-up spare parts is included in the Guaranteed
Maximum Price, including all Work related to procuring such spare parts and the purchase price for such spare parts.

3.4.2.     
Operating Spare Parts. With respect to operating spare parts for use after Substantial Completion, Contractor
shall deliver to Owner for Owner’s written approval a detailed priced list of the manufacturer and Contractor-recommended
operating spare parts for each applicable item of Contractor-Supplied Equipment necessary for operating such equipment (including
components and systems of such equipment) for two (2) years after Substantial Completion. Such list shall be provided to Owner
for each item of Contractor-Supplied Equipment for which there is manufacturer or Contractor-recommended operating spare parts
prior to execution of the applicable Subcontract for such equipment. Owner shall have thirty (30) Days to respond to Contractor
identifying which operating spare parts, if any, that Owner wishes Contractor to procure as part of its execution of the Subcontract.
In the event Owner requests in writing that Contractor procure any operating spare parts on Owner’s behalf, Contractor shall
be entitled to request a Change Order in accordance with Section 6.2.1.7, to increase the Guaranteed Maximum Price
for the actual purchase price of such requested operating spare parts.

3.5 
Operator Training Program. As part of the
Work, a reasonable number of personnel designated by Owner in its sole discretion shall be given training designed and

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administered by Contractor on
a reimbursable basis as provided herein, which shall be based on the program requirements contained in Attachment A and
shall cover at a minimum the following topics: (i) the testing of each item of Equipment; (ii) the start-up, operation and shut-down
of each item of Equipment; (iii) the performance of routine, preventative and emergency maintenance for each item of Equipment;
(iv) spare parts to be maintained for each item of Equipment, and their installation and removal; and (v) any other subject
matter required in Attachment A. Contractor shall provide group training for up to two (2) weeks and the cost of such training
is included in the Guaranteed Maximum Price. Such training shall include instruction for Owner’s operations and maintenance
personnel in the operation and routine maintenance of each item of Equipment prior to completion of commissioning of each item
of Equipment. As part of the training, Contractor shall provide Owner’s operating and maintenance personnel with full access
to the Project during commissioning, testing and start up. Training shall be provided by personnel selected by Contractor who,
in Contractor’s and the Equipment Subcontractor’s judgment, are qualified to provide such training, and shall take
place at such locations and at such times as agreed upon by the Parties. Contractor shall provide trainees with materials described
in Attachment A. Contractor shall also provide to Owner all training materials and aids developed to conduct such training
in order to facilitate future training by Owner of personnel hired in the future.

3.6 
Environmental Regulations and Environmental Compliance.
Without limitation of Section 3.1, Contractor is fully responsible for ensuring that the Work is performed
in an environmentally sound manner and in compliance with all provisions of this Agreement regarding the environment, Applicable
Law (including Permits) and in compliance with the policies and procedures set forth in Attachment J. Contractor shall dispose
of all non-hazardous wastes and Hazardous Materials brought to the Site by Contractor or its Subcontractors during performance
of the Work at approved disposal facilities off-Site permitted to receive such wastes and Hazardous Materials.

3.7 
Contractor’s Tools and Construction Equipment.
Contractor shall furnish all Construction Equipment necessary and appropriate for the timely and safe completion of the Work in
strict compliance with this Agreement. Notwithstanding anything to the contrary contained in this Agreement, Contractor shall be
responsible for damage to or destruction or loss of, from any cause whatsoever, all Construction Equipment owned, rented or leased
by Contractor or its Subcontractors or Sub-subcontractors for use in accomplishing the Work. Contractor shall require all insurance
policies (including policies of Contractor and all Subcontractors and Sub-subcontractors) in any way relating to such Construction
Equipment to include clauses stating that each underwriter will waive all rights of recovery, under subrogation or otherwise, against
the Owner Indemnified Parties.

3.8 
Employment of Personnel.

3.8.1.     
Contractor shall not employ, or permit any Subcontractor or Sub-subcontractor to employ, in connection with its performance
under this Agreement anyone not skilled or qualified or otherwise unfit to perform the work assigned to such Person. Contractor
agrees to promptly remove (or to require any Subcontractor or Sub-subcontractor to remove) from its services in connection with
the Work any Person who does not meet the foregoing requirements. NOTWITHSTANDING THE

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FOREGOING, OWNER SHALL HAVE NO
LIABILITY AND CONTRACTOR AGREES TO RELEASE, INDEMNIFY, DEFEND AND HOLD HARMLESS THE OWNER INDEMNIFIED PARTIES FROM AND AGAINST
ANY AND ALL CLAIMS WHICH MAY DIRECTLY OR INDIRECTLY ARISE OR RESULT FROM CONTRACTOR OR ANY SUBCONTRACTOR OR SUB-SUBCONTRACTOR TERMINATING
THE EMPLOYMENT OF OR REMOVING FROM THE WORK ANY SUCH EMPLOYEE WHO FAILS TO MEET THE FOREGOING REQUIREMENTS FOLLOWING A REQUEST
BY OWNER TO HAVE SUCH EMPLOYEE REMOVED FROM THE WORK. Contractor shall replace any such employee at its sole cost and expense.

3.8.2.     
Contractor and its Subcontractors and Sub-subcontractors and the personnel of any of them shall not bring onto the Site:
(i) any firearm of whatsoever nature or any other object which in the sole judgment of Owner is determined to be a potential weapon,
unless Applicable Law requires Owner to allow such items on the Site; (ii) alcoholic beverages or intoxicants of any nature; (iii)
any substance that creates a hazard and not related to the Work; (iv) illegal or non-prescription drugs of any nature; or (v) any
prescription drugs without a valid prescription. In addition, all employees and agents of Contractor and its Subcontractors and
Sub-subcontractors shall successfully complete a drug screening test prior to performing Work at the Site and periodically thereafter,
and upon Owner’s request, Contractor shall provide Owner with copies of such drug screening tests. Contractor and its Subcontractors
and Sub-subcontractors shall abide by and enforce the requirements of this Section 3.8.2, and shall immediately remove from
the Work and the Site any employee or agent of Contractor, Subcontractor or Sub-subcontractor who, in Owner’s sole judgment,
has violated the requirements of this Section 3.8.2. THE PROVISIONS OF SECTION 3.8.1 WITH REGARD TO LIABILITY
OF ANY OF THE OWNER INDEMNIFIED PARTIES AND CONTRACTOR’S RELEASE, INDEMNIFICATION, DEFENSE AND HOLD HARMLESS OBLIGATIONS
SHALL APPLY TO THE REMOVAL OF ANY SUCH PERSON UNDER THIS SECTION 3.8.2.

3.9 
Clean-up. Contractor shall, to Owner’s
satisfaction, at all times keep the Site free from all waste materials or rubbish caused by the activities of Contractor or any
of its Subcontractors or Sub-subcontractors. Contractor shall clean up all such waste materials or rubbish at Owner’s request
with reasonable notice as described further in Attachment A. As soon as practicable after the completion of all Punchlist
items, Contractor shall with respect to such Work remove, all Construction Equipment and other items not constituting part of the
Project and remove trash, debris, and scrap produced by Contractor which shall be properly disposed of in Owner supplied receptacles
and all waste material and demolished equipment will be removed to the suitable lay down yard at the Site in accordance with all
Permits and this Agreement. In the event of Contractor’s failure to comply with any of the foregoing, upon forty-eight (48)
hours written notice to Contractor, Owner may accomplish the same; provided, however, that Contractor shall be liable for
and pay to Owner (directly, by offset, or by collection on the Letter of Credit, at Owner’s sole discretion) all costs associated
with such removal or restoration.

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3.10                     
 Safety and Security. Contractor recognizes
and agrees that safety and physical security are of paramount importance in the performance of the Work and that Contractor is
responsible for performing the Work in a safe and physically secure manner. Contractor agrees to implement a safety program that
is to be received by Owner for its written approval twenty-one (21) Days prior to the commencement of the Work at the Site. Contractor
further agrees to perform the Work in accordance with the safety and health rules and standards of Applicable Law and such safety
program, as approved by Owner, and Contractor shall assume all costs associated with compliance therewith. Contractor’s safety
program shall include the standards set forth in Attachment J. Owner’s review and approval of Contractor’s safety
program shall not in any way relieve Contractor of its responsibility regarding safety, and Owner, in reviewing and approving such
safety program, assumes no liability for such safety program. Contractor shall appoint one or more (as appropriate) safety representative(s)
acceptable to Owner who shall be resident at the Site, have responsibility to immediately correct unsafe conditions or unsafe acts
associated with the Work and the Project, act on behalf of Contractor on safety and health matters, and participate in periodic
safety meetings with Owner at least once per week or at such greater frequency as Owner may request. Contractor further agrees
to provide or cause to be provided necessary training and safety Construction Equipment to its employees, Subcontractors and Sub-subcontractors
and enforce the use of such training and safety Construction Equipment. Contractor shall maintain all accident, injury and any
other records required by Applicable Law and this Agreement, including Attachment J. Contractor shall fully cooperate with
Owner and Owner’s on-Site environmental, health and safety (“EH&S”) coordinator in demonstrating
safe practices, including full cooperation during any investigations. Contractor shall be responsible for the specific lighting
for the Work and supervision of the Project until all of the requirements of Substantial Completion of the Project have been satisfied.
Owner shall provide security, fencing, guarding and general lighting for the Site. Contractor is aware of all requirements established
by Governmental Instrumentalities in effect as of the Effective Date (including social distancing, use of protective equipment,
travel restrictions, stay-at-home orders and quarantine requirements) and applicable guidelines issued by the Center for Disease
Control or from other public health bodies relevant to the Work and which Contractor, based on GECP, would implement (including
testing and temperature checks), and Contractor has taken such requirements and guidelines into account in planning the Work.

3.11                     
Emergencies. In the event of any emergency
endangering life or property in any way relating to the Work, the Project or the Site, whether on the Site or otherwise, Contractor
shall take such action as may be reasonable and necessary to prevent, avoid or mitigate injury, damage, or loss and shall, as soon
as possible, report any such incidents, including Contractor’s response thereto, to Owner. If Contractor has not taken reasonable
precautions for the safety of personnel on the Site, the public or the protection of the Work, and such failure creates an emergency
requiring immediate action, then Owner, with or without notice to Contractor may, but shall be under no obligation to, take reasonable
action as required to address such emergency and all such costs incurred by Owner shall be for Contractor’s account. The
taking of any such action by Owner, or Owner’s failure to take any action, shall not limit Contractor’s liability.

3.12                     
Permits. Other than the Permits listed
in Attachment P, Contractor shall obtain all Permits required to be taken under Contractor’s name, to perform the
Work and shall

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promptly provide information,
assistance and documentation to Owner as reasonably requested in connection with the Permits to be obtained or modified by Owner
in Attachment P.

3.13                     
Books, Records and Audits.

3.13.1. 
Contractor shall keep full and detailed books, construction logs, records, daily reports, accounts, schedules, payroll records,
receipts, statements, electronic files, correspondence and other pertinent documents as may be necessary for proper management
under this Agreement, as required under Applicable Law or this Agreement, and in any way relating to this Agreement (“Books
and Records”). Contractor shall maintain all such Books and Records in accordance with GAAP, and shall retain all
such Books and Records for a minimum period of three (3) years after Final Completion of the Project, or such greater period of
time as may be required under Applicable Law.

3.13.2. 
Upon reasonable notice, Owner, Lender, and any of their representatives, including Lender’s independent engineer,
shall have the right to audit or to have audited Contractor’s Books and Records; provided, however, such parties shall
not have the right to audit or have audited Contractor’s Books and Records in connection with the internal composition of
any compensation that is fixed in amount hereunder including by way of example and not limitation any base rates and multipliers
or prorates used to calculate burdened rates on taxable wages including but not limited to payroll taxes, insurance, small tools
and consumables, except to the extent that any such compensation has any bearing with respect to (i) any proceeding (including
any civil, criminal or administrative proceeding or investigation) before any Governmental Instrumentality in which Owner is involved.
When requested by Owner, Contractor shall provide the auditors with reasonable access to all such Books and Records, and Contractor’s
personnel shall cooperate with the auditors to effectuate the audit or audits hereunder. The auditors shall have the right to copy
all such Books and Records. Owner shall bear all costs incurred by Contractor in assisting Owner with audits performed pursuant
to this Section 3.13. Contractor shall include audit provisions identical to this Section 3.13 in all Subcontracts.
The restrictions in this Section 3.13.2 to the audit rights by Owner, Lender or Lender’s independent engineer shall
not control over any rights such parties have under Applicable Law in discovery in any arbitration or litigation arising out of
Section 18.1 of this Agreement or in any litigation or arbitration against Guarantor.

3.14                     
Tax Accounting. Within a reasonable period
of time following a request therefor, Contractor shall provide Owner with any information regarding quantities, descriptions and
costs of any Contractor-Supplied Equipment installed on or ordered for the Project and any other information, including Books and
Records, as Owner may deem reasonably necessary in connection with the preparation of its tax returns or other tax documentation.

3.15                     
Temporary Utilities, Roads, Facilities and Storage.
To the extent there are existing utilities that can be used by Contractor, Owner shall pay for such utilities, but otherwise Contractor
shall obtain all other utilities that may be required. Contractor shall construct and maintain temporary access and haul roads
as may be necessary for the proper performance of this Agreement. Roads constructed on the Site shall be subject to Owner’s

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written approval. All Equipment
and other items comprising part of the Work stored at a location other than on the Site shall be segregated from other goods, and
shall be clearly marked as “Property of Bakersfield Renewable Fuels, LLC.”

3.16                     
Subordination of Liens. In consideration of
ten U.S. Dollars (U.S.$10) incorporated into the Compensation and as part of the consideration of receiving this Agreement and
other valuable consideration received and acknowledged by Contractor, Contractor hereby subordinates any mechanics’ and materialmen’s
liens or other claims or encumbrances that may be brought by Contractor against any or all of the Work, the Site or the Project
to any liens granted in favor of Lender, whether such lien in favor of Lender is created, attached or perfected prior to or after
any such liens, claims or encumbrances, and shall require its Subcontractors and Sub-subcontractors to similarly subordinate their
lien, claim and encumbrance rights. Contractor agrees to comply with reasonable requests of Owner for supporting documentation
required by Lender, including any necessary lien subordination agreements, affidavits or other documents that may be required to
demonstrate that Owner’s property and premises are free from liens, claims and encumbrances arising out of the furnishing
of Work under this Agreement. 

3.17                     
Hazardous Materials. In the performance of
the Work, Contractor shall, and shall cause its Subcontractors and Sub-subcontractors to, comply with all Applicable Laws, Applicable
Codes and Standards, and the requirements specified in Attachment J relating to Hazardous Materials. Contractor shall conduct
its activities under this Agreement, and shall cause each of its Subcontractors and Sub-subcontractors to conduct its activities,
in a manner designed to prevent pollution of the environment or any other release of any Hazardous Material brought on to the Site
by Contractor or its Subcontractors and Sub-subcontractors. Neither Contractor nor its Subcontractors or Sub-subcontractors shall
bring Hazardous Material to the Site, except as necessary to perform the Work, and Contractor shall remain responsible and strictly
liable for all such Hazardous Materials and for any Hazardous Materials that are brought to the Site by Contractor or any of its
Subcontractors or Sub-subcontractors. Contractor shall be responsible for the management of, and proper disposal of, all Hazardous
Material brought onto the Site by it or its Subcontractors or Sub-subcontractors. If any spillage, discharge, emission, or release
should occur as a result of any Hazardous Materials brought on to the Site by Contractor or its Subcontractors or Sub-subcontractors
or discovered by them, Contractor shall immediately notify Owner and take all reasonable steps necessary to: (i) stop and contain
the spillage, discharge, emission, or release; (ii) make any report(s) of the spillage, discharge, emission, or release as required
under Applicable Laws; and (iii) clean-up and remediate the spillage, discharge, emission, or release of Hazardous Materials brought
onto the Site by Contractor or any of its Subcontractors or Sub-subcontractors as required by Applicable Law. Contractor shall
cause all such Hazardous Material brought onto the Site by it or its Subcontractors or Sub-subcontractors: (y) to be transported
only by carriers maintaining valid Hazardous Material transportation Permits (as required) and operating in compliance with such
Permits and Applicable Laws regarding the transportation of Hazardous Material and only pursuant to manifest and shipping documents
identifying only Contractor as the generator of waste or Person who arranged for waste disposal through Contractor or any Subcontractor
or Sub-subcontractor; and (z) to be treated and disposed of only at treatment, storage, and disposal facilities maintaining valid
Permits (as required) regarding Hazardous Material and in accordance with Applicable Law. Contractor

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shall submit to Owner a list
of all Hazardous Material to be brought onto the Site as permitted by this Agreement prior to bringing such Hazardous Material
onto or at the Site. Contractor shall keep Owner informed as to the status of all Hazardous Material brought onto the Site by Contractor
or its Subcontractors and Sub-subcontractors and disposal of such Hazardous Material from the Site by Contractor or its Subcontractors
or Sub-subcontractors. Notwithstanding anything to the contrary in the foregoing, Contractor will have no liability or responsibility
for any release, clean-up, remediation, transportation, or disposal of any Hazardous Materials existing at the Site that pre-date
Contractor’s or its Subcontractors’ or Sub-subcontractors’ commencement of any Work at the Site (the “Pre-Existing
Hazardous Materials”), and as between Owner and Contractor, Owner will retain all responsibility for Pre-Existing
Hazardous Materials, except to the extent of Contractor’s or any Subcontractor’s or Sub-subcontractor’s negligent
or otherwise wrongful handling, disturbance, transport, storage, disposal, aggravation or exacerbation of such Pre-Existing Hazardous
Materials.

3.18                     
Environmental Releases. If Contractor or any
of its Subcontractors or Sub-subcontractors releases any Hazardous Material on, at, or from the Site, or becomes aware of any Person
who has stored, released, or disposed of Hazardous Material on, at, or from the Site during the Work, Contractor shall immediately
notify Owner in writing. If Contractor’s Work is involved in the area where such release occurred, Contractor shall immediately
stop any Work affecting the area. Contractor will not thereafter resume performance of the Work in the affected area except with
the prior written permission of Owner. Contractor shall, at its sole cost and expense, diligently proceed to take all necessary
or desirable remedial action to clean up and remediate fully and dispose of, in accordance with Applicable Laws, any contamination
caused by: (i) Contractor’s or any of its Subcontractor’s or Sub-subcontractor’s negligent or otherwise
wrongful handling, disturbance, transport, storage, disposal, aggravation or exacerbation of any Pre-Existing Hazardous Materials;
and (ii) Contractor’s or any of its Subcontractor’s or Sub-subcontractor’s negligence or otherwise wrongful handling
of any Hazardous Material that was brought onto the Site by Contractor or any of its Subcontractors or Sub-subcontractors, whether
on or off the Site. If and when Contractor is instructed to resume performance of the Work with respect to a stoppage as a result
of the release of any Hazardous Material that is not Contractor’s responsibility pursuant to the previous sentence (after
disposal or other decision by Owner regarding treatment of such Hazardous Material), to the extent that any such suspension materially
and adversely affects Contractor’s actual cost or time for performance of the Work, Contractor shall be entitled to a Change
Order to the extent of the material and adverse effect. Contractor shall not, and shall cause its Subcontractors and Sub-subcontractors
to not, take any action that may exacerbate any such contamination. In addition to Contractor’s obligations as set forth
above, if Owner desires Contractor to perform all or part of any clean up or remediation that may become necessary as a result
of the discovery of any Pre-Existing Hazardous Material that are not Contractor’s responsibility, Contractor shall be entitled
to a Change Order for the actual cost of such additional Work. Contractor shall cooperate with and assist Owner in making the Site
available for taking necessary remedial steps to clean-up/remediate any such contamination at Owner’s expense.

3.19                     
Quality Assurance. No later than fifteen (15)
Days after the date Owner issues NTP, Contractor shall submit to Owner for its review and approval, a Project-specific quality
control and quality assurance plan and inspection plan, including inspection

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procedures. Contractor shall
promptly modify such Project-specific quality control and quality assurance plan and inspection plan to incorporate all comments
provided by Owner, if any. Owner’s approval of Contractor’s quality control and assurance plan, inspection plan and
inspection procedure shall in no way relieve Contractor of its responsibility for performing the Work in compliance with this Agreement.
As part of the quality control and assurance plan, inspection plan and inspection procedure, Contractor shall keep a daily log
of inspections performed, and Contractor shall make available at the Site for Owner’s review a copy of all such inspections.

3.20                     
Reports and Meetings. 

3.20.1. 
Reports. Contractor shall provide Owner with electronic copies of progress reports and such other information
as reasonably requested by Owner, including the following:

3.20.1.1.                   
Safety or environmental incident reports within one (1) Business Day of the occurrence of any such incident, including “near
miss” incidents wherein no individual was injured or property was damaged, except for any safety or environmental incident
involving a significant non-scheduled event such as natural gas releases, fires, explosions, mechanical failures, unusual over-pressurizations
or major injuries which shall be provided to Owner within eight (8) hours of the occurrence of such incident; provided, however,
notification shall be provided to Owner immediately if any safety or environmental incident threatens public or employee safety,
causes significant property damage, or interrupts the Work; and

3.20.1.2.                   
Monthly progress reports (“Monthly Progress Reports”), in a form acceptable to Owner and Contractor
but containing the information specified in Attachment R. Contractor shall provide the Monthly Progress Report no later
than the tenth (10th) Day of the succeeding Month (or, if a holiday, the last Business Day immediately preceding the tenth (10th)
Day of the succeeding Month), which shall be submitted with the Invoice for such Month, and the Monthly Progress Report shall cover
activities up through the end of the previous Month. Contractor shall provide Owner with the number of copies of such reports and
shall arrange for the distribution thereof as Owner may reasonably request.

3.20.2. 
Meetings. A weekly (or as otherwise agreed between the Parties) progress meeting shall be held at the
Site, or at an alternate site mutually agreeable to Owner and Contractor, to discuss the matters described in Attachment R
for the prior week. A Monthly progress meeting shall be held by Contractor at the Site, or at an alternate site mutually agreeable
to Owner and Contractor, to discuss the matters described in Attachment R for the prior Month and to review the Monthly
Progress Report for that Month with Owner. The meetings shall be attended by a representative of Owner, the Contractor Representative
and those Contractor employees and Subcontractors requested by Owner.

3.21                     
Payment. Contractor shall timely make all
payments required to be paid to Owner pursuant to the terms of this Agreement.

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3.22                     
 Title to Materials Found. As between Owner
and Contractor, the title to water, soil, rock, gravel, sand, minerals, timber, and any other materials developed or obtained in
the excavation or other operations of Contractor, any Subcontractor or Sub-subcontractor at
the Site and the right to use said materials or dispose of same is hereby expressly reserved by Owner.
Contractor may, at the sole discretion of Owner, be permitted, without charge,
to use in the Work any such materials that comply with the requirements of this Agreement.

3.23                     
Survey Control Points and Layout. Contractor
shall establish all survey control points and layout the entire Work in accordance with the requirements of this Agreement, which
shall be based on the survey control point established by Owner pursuant to this Agreement. Contractor acknowledges that it has
confirmed the proper placement of such Owner-provided survey control point. If Contractor or any of its Subcontractors, Sub-subcontractors
or any of the representatives or employees of any of them move or destroy or render inaccurate the survey control point provided
by Owner, such control point shall be replaced by Contractor at Contractor’s own expense.

3.24                     
Owner-Supplied Items. Owner-Supplied Items
shall be made available to Contractor by Owner at a location at the Site, and, upon delivery, Contractor shall promptly visually
inspect the Owner-Supplied Items. Contractor shall promptly notify Owner of any visible defect or discrepancy in the Owner-Supplied
Items or any error in the quantity of such Owner-Supplied Items. If Contractor fails to notify Owner of any such visible defect,
discrepancy, or error in quantity before performing Contractor’s dependent Work, and such defect, discrepancy, noncompliance
or error in quantity would have been discovered in the course of a reasonably thorough visual inspection and measurement, Contractor
shall correct such defect or discrepancy on the same basis as if it were Defective Work in accordance with Article 13.
Contractor shall assume care, custody and control and risk of loss for all such Owner-Supplied Items after delivery to the Site
and prior to offloading such Owner-Supplied Items, including the storage, maintenance and care for Owner-Supplied Items in accordance
with the manufacturer’s and Owner’s recommendations and procedures.

3.25                     
Cooperation with Others. Contractor acknowledges
that Owner, other contractors and other subcontractors or other Persons may be working at the Site during the performance of this
Agreement and the Work or use of certain facilities may be interfered with as a result of such concurrent activities. To minimize
interference with work of any of the other parties involved, Contractor shall perform the Work only in the designated areas (including
laydown areas) set forth on Attachment T. Contractor shall at all times coordinate the performance of the Work on the Site
with Owner and all of Owner’s other contractors and other subcontractors or other Persons performing work on the Site.
Contractor agrees to cooperate with Owner and such other
contractors and other subcontractors or other Persons so as to not to materially interfere with the activities of such Persons
working on the Site. Subject to Section 4.3, Contractor shall be fully responsible for coordinating the Work and the activities
of Contractor and its Subcontractors and Sub-subcontractors occurring off of the Site with any
work or activities of Owner, Owner’s other contractors and its other subcontractors or other Persons. During pre-commissioning,
start-up operations, commissioning, Performance Tests and other testing of the Project, Contractor shall at all times coordinate
with, supervise, and manage Process Licensor personnel.

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3.26                     
 Responsibility for Property. Contractor shall
plan and conduct its operations so that neither Contractor nor any of its Subcontractors or Sub-subcontractors shall (i) enter
upon lands (other than the Site) or waterbodies in their natural state unless authorized by Owner in writing; (ii) close or obstruct
any utility installation, highway, waterway, harbor, road or other property unless and until Permits and Owner’s written
permission therefore have been obtained; (iii) disrupt or otherwise interfere with the operation of any portion of any pipeline,
telephone, conduit or electric transmission line, ditch, navigational aid, dock or structure unless and until otherwise specifically
authorized by Owner in writing; (iv) damage any property in (ii) or (iii); or (v) damage or destroy maintained, cultivated or planted
areas or vegetation (such as trees, plants, shrubs, shore protection, paving, or grass) on the Site or adjacent thereto which,
as determined by Owner, do not interfere with the performance of this Agreement. The foregoing includes damage arising from performance
of the Work through operation of Construction Equipment or stockpiling of materials. Contractor and its Subcontractors and Sub-subcontractors
shall coordinate and conduct the performance of the Work so as to not interfere with or disrupt the use and peaceful enjoyment
of any adjacent property to the Site.

3.27                     
Compliance with Real Property Interests. Contractor
shall, in the performance of the Work, comply, and cause all Subcontractors and Sub-subcontractors to comply, with any easement,
lease, right-of-way or other property interests that affect or govern the Site or any other real property used for the purposes
of completing the Work, including any insurance or indemnification restrictions or obligations therein, to the extent such easement,
lease, right-of-way or other property interests relate to the performance of the Work.

3.28                     
Explosives. Explosives shall be transported
to the Site only when required to perform the Work under this Agreement and with abundant, prior notice to and written approval
of Owner. Contractor shall be responsible for properly purchasing, transporting, storing, safeguarding, handling and using explosives
required to perform the Work under this Agreement. Contractor shall employ competent and qualified personnel for the use of explosives
and shall assume full responsibility for all costs, losses, damages and expenses caused by the use of explosives in the performance
of the Work. Residual surplus explosives shall be promptly removed from the Site and properly disposed of by Contractor.
Contractor shall strictly comply with Applicable Law and Applicable Codes and Standards in the handling of explosives pursuant
to this Agreement (including the U.S. Patriot Act of 2001 and any and all rules and regulations promulgated by the U.S. Department
of Homeland Security and the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives), shall perform all obligations and obtain
all Permits with respect to explosives, and shall develop and file and provide copies to Owner of all documentation regarding same.

3.29                     
Used or Salvaged Materials. If, after Substantial
Completion and prior to Final Completion, (i) Contractor has any Contractor-Supplied Equipment that it purchased for the Project
but did not incorporate into the Project, or (ii) if such Contractor-Supplied Equipment was purchased pursuant to a unilateral
Change Order in accordance with Section 6.1.4 or 6.2.4, Owner has the option of either taking such
Equipment at no cost to Owner or requiring that Contractor haul off such Equipment at Owner’s cost and expense.

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3.30                     
 Supervision of Owner’s Operation Personnel.
During commissioning of the Project, Owner’s operating and maintenance personnel providing commissioning support to the Project
shall be managed and supervised by Contractor while such personnel provide such commissioning support; provided, however,
notwithstanding the foregoing, such operating and maintenance personnel shall remain employees or agents of Owner and shall not
be considered employees of Contractor for any reason. Contractor shall be responsible for the acts and omissions of Owner’s
operating and maintenance personnel only during such time in which such personnel are providing commissioning support to Contractor;
provided, however, under no circumstances shall Contractor be liable for the gross negligence or willful misconduct of such personnel
during such time. Contractor shall, no later than fourteen (14) Days after NTP, prepare for Owner’s review and approval a
proposed organizational chart regarding the utilization of Owner’s operation and maintenance personnel during the Project.

3.31                     
Nondiscrimination. Contractor agrees that
it shall conduct its activities without discrimination on account of race, creed, color, sex, religion, national origin, age or
disability and shall comply with Applicable Law relating thereto, including Executive Order 11246, as amended. Upon the request
of Owner, Contractor shall provide Owner with copies of all plans or programs that Contractor uses to satisfy the requirements
of this Section 3.31.

Article
4

OWNER’S RESPONSIBILITIES

4.1 
Payment. Owner shall timely pay the Contractor’s
Compensation in accordance with the provisions of Article 7 hereof.

4.2 
Permits. Owner shall be responsible for obtaining
the Permits listed in Attachment P. To the extent Owner has not obtained any such Permits prior to the Effective Date,
Owner shall obtain such Permits in accordance with the schedule contained in Attachment P, or if not stated therein, in
a manner that will permit Contractor to perform the Work without substantial interruption or interference. Owner shall provide
information, assistance and documentation to Contractor as reasonably requested in connection with the Permits to be obtained by
Contractor under this Agreement.

4.3 
Access to the Site. Owner shall provide
Contractor with access to the Site on which the Project is to be physically situated. Subject to Section 3.25, such access
on the Site shall be sufficient to permit Contractor to progress with the Work on a continuous basis in accordance with the Milestone
Dates without material interruption or interference.

4.4 
California Sales and Use Tax. Owner
shall reimburse Contractor for California sales and use Taxes as set forth in Article 8, unless Owner provides Contractor
with evidence of abatement of such California sales and use Taxes, in which case Contractor shall not invoice Owner for any such
Taxes. In addition, Owner shall administer and pay (a) property Taxes assessed on the Site, and on Equipment after delivery
at the Site, and (b) all Taxes incurred due to Owner’s sale of renewable diesel from the Project.

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4.5 
 Legal Description and Survey. Within fifteen
(15) Days after NTP, Owner shall provide to Contractor for Contractor’s information a survey control point, the proper placement
of which, Contractor has confirmed as set forth in Section 3.23.

4.6 
Operation Personnel. Owner shall retain operating
and maintenance personnel who are qualified and experienced generally in refining operations to provide support in the pre-commissioning,
commissioning, start-up and testing of the Project.

4.7 
Owner-Supplied Items. Owner shall be responsible
for the procurement and delivery of the items described in Attachment V (“Owner-Supplied Items”),
within the times and at the locations set forth therein, subject to the conditions specified therein. For the avoidance of doubt,
the Owner-Supplied Items does not include connections and related services supplied by Contractor regarding the Owner-Supplied
Items or any other requirements with respect to the Owner-Supplied Items set forth in Attachment A. 

4.8 
Existing Plant Equipment. Owner shall be solely
responsible for Existing Plant Equipment meeting Applicable Codes and Standards, except to the extent set forth in Section 3.1.3.

Article
5

COMMENCEMENT OF WORK, MILESTONE DATES, AND SCHEDULING OBLIGATIONS

5.1 
Commencement of Work. Upon Contractor’s
receipt from Owner of the NTP, Contractor shall immediately commence the performance of the Work.

 

5.2 
Milestone Dates. Contractor shall perform
the Work in accordance with the Milestone Dates set forth in this Section 0 and in Attachment E. On
the Effective Date, the only Milestone Dates listed in Attachment E are the Guaranteed Substantial Completion Date and Guaranteed
Final Completion Date. As part of the CPM Schedule submission described in Section 5.3.1 below, Contractor shall propose for Owner’s
review and approval at least ten (10) new Milestone Dates that are on the critical path of the Work, with each Milestone Date evenly
spaced between the NTP and the Guaranteed Substantial Completion Date. The Parties shall agree on these Milestone Dates within
thirty (30) Days after Contractor’s submission of the CPM Schedule, which shall be captured in the Change Order.

5.2.1.     
Guaranteed Substantial Completion Date. Contractor shall achieve Substantial Completion of the Work no later
than Two Hundred Forty Eight (248) Days after issuance of NTP (“Guaranteed Substantial Completion Date”).
The Guaranteed Substantial Completion Date shall only be adjusted by Change Order as provided under this Agreement.

5.2.2.     
Guaranteed Final Completion Date. Contractor shall achieve Final Completion of the Work no later than one
hundred eighty (180) Days after achieving Substantial Completion (“Guaranteed Final Completion Date”).
The Guaranteed Final Completion Date shall only be adjusted by Change Order as provided under this Agreement.

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5.2.3.     
 Contractor shall not commence performance of the Work until Owner issues the NTP authorizing the same pursuant to this
Section 5.2.3 Owner shall issue NTP no later than June 2, 2021, and if Owner fails to issue NTP by such date, Contractor
shall be entitled to a Change Order to the extent permitted in Section 6.8. Upon Contractor’s receipt from
Owner of the NTP and the first installment of the Deposit Payment, Contractor shall immediately commence with the performance of
the Work. The NTP shall be issued in the form attached hereto as Attachment H.

5.3 
CPM Schedule.

5.3.1.     
CPM Schedule Submission. Within forty-five (45) Days after the Effective Date, Contractor shall prepare and
submit to Owner for its review and written approval a detailed resource/man-hour loaded critical path method schedule for the Project
using Primavera Project Planner (P6) version 8.2 or later (“CPM Schedule”). Owner may issue written comments,
proposed changes or written approval or disapproval of such CPM Schedule. The CPM Schedule shall, at a minimum, (i) include separate
activities for each portion of the Project (including engineering, procurement and construction, along with non-physical activities
related to the Work, such as submittal and approval of Drawings and Specifications, procurement of Equipment and inspection and
testing of the Work, and obtaining Permits), (ii) be fully integrated and shall be consistent with the Milestone Dates, (iii) be
detailed at a level 3 (with each activity containing Work for one discipline or craft having a maximum twenty (20) Day duration)
for all activities for the Project, (iv) fully incorporate all Major Subcontractor schedules for the performance of their work
(including off-site Subcontractors, suppliers and fabricators), (v) show the duration, early/late start dates, early/late finish
dates and available float for each activity, activity number, activity description and responsible Contractor or Subcontractor,
and an uninterrupted critical path from the NTP through each Milestone Date, including Mechanical Completion, Substantial Completion
and Final Completion of the Project, (vi) be cost-loaded to reflect Contractor’s expected payments during the progress of
the Work; and (vii) be man-hour loaded to reflect the projected manpower to be used per activity (whether provided by Contractor
or any Subcontractor or Sub-subcontractor), showing the number of personnel, the positions and titles of such personnel, and a
general description of the Work being performed. With respect to each activity in the CPM Schedule, the CPM Schedule shall show
the activity number, activity description, early start and early finish dates, late start and late finish dates, duration, total
float value, and responsible Contractor, Subcontractor or other parties (including Owner and Owner’s other contractors).
The CPM Schedule shall represent Contractor’s best judgment as to how it shall complete the Work in compliance with the Milestone
Dates, including the Guaranteed Substantial Completion Date and the Guaranteed Final Completion Date. The CPM Schedule shall be
submitted in in its native electronic format by Primavera Project Planner (P6) version 8.2 or later. Contractor shall submit with
the CPM Schedule a progress “S” curve, showing the baseline early and late curve, and actual and forecast progress
by Month for total progress of the Work. Once the CPM Schedule and the required submittals have been reviewed and approved by Owner,
this version of the CPM Schedule shall be the baseline CPM Schedule for the Work.

5.3.2.     
Progress Updates to CPM Schedule. After approval by Owner of the baseline CPM Schedule described in Section
5.3.1, Contractor shall manage and update

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(no less frequently than once
every four (4) weeks) the CPM Schedule with Primavera, P6 using the critical path method to show actual progress and the current
forecast to complete the Work. Each updated CPM Schedule shall meet the requirements of Section 5.3.1, and in addition shall
(i) at a minimum, be prepared with the same level of detail as the baseline CPM Schedule, (ii) show the baseline CPM Schedule,
(iii) for each activity completed, show the actual start and finish dates for each such completed activity, (iv) for each activity
started but not yet completed, show the actual start date for each such activity, the progress of Work for each such activity and
forecasted completion date for each such activity, (v) for each activity not yet started, show the forecasted start and completion
date for each such activity, (vi) show the actual costs incurred and to be incurred; (vii) show the man-hours expended and the
projected manpower to be used per activity, showing the number of personnel, the positions and titles of such personnel, and a
general description of the Work being performed, (viii) show the forecasted date of achievement of Mechanical Completion, Substantial
Completion and Final Completion of the Project, and (ix) update the CPM Schedule with all other information shown in the baseline
CPM Schedule, reflecting the Work as actually performed or as forecasted, including manhours for each activity. Contractor shall
submit to Owner current updates to the CPM Schedule every four (4) weeks. Contractor shall promptly correct any errors or inconsistencies
in the updates to the CPM Schedule identified to Contractor by Owner and resubmit a corrected update for Owner’s review.

5.3.3.     
Approval of Baseline CPM Schedule and Updates to CPM Schedule. Owner’s review and approval, or lack
of review or approval, of the baseline CPM Schedule and any updated CPM Schedule shall not relieve Contractor of any obligations
for the performance of the Work, change the Guaranteed Substantial Completion Date or the Guaranteed Final Completion Date, nor
shall it be construed to establish the reasonableness of the CPM Schedule. Notwithstanding any approval by Owner of the baseline
CPM Schedule or any updated CPM Schedule, Owner shall be entitled to reasonably rely upon the baseline CPM Schedule and any updates
to the CPM Schedule, including reliance that Contractor has developed a comprehensive, reasonable and accurate schedule to complete
the Work within the times set forth in the Milestone Dates.

5.3.4.     
Two Week Look-ahead Schedule. During the period commencing upon the NTP and ending upon Substantial Completion,
Contractor shall submit to Owner on a weekly basis a two (2) week look-ahead schedule (“Two Week Look-ahead Schedule”),
which shall be based on the CPM Schedule showing in detail the activities to be performed during the next fourteen (14) Days, and
shall meet all other requirements of an updated CPM Schedule as described in Section 5.3.2. The Two Week Look-ahead Schedule
shall be submitted to Owner in its native electronic format.

5.3.5.     
Default. If Contractor fails to comply with its scheduling obligations under this Agreement, including those
set forth in this Section 5.3, 5.4 and 5.5, Owner may withhold any and all further payments otherwise owing
Contractor until such failure is corrected.

5.4 
Recovery and Recovery Schedule. If, at any
time (i) the CPM Schedule shows that any activity on a critical path of the CPM Schedule is delayed such that Substantial

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Completion is forecasted to occur
twenty (20) or more Days after the applicable Guaranteed Substantial Completion Date or a Milestone is forecasted to occur twenty
(20) or more Days after the applicable Milestone Date, (ii) Contractor fails to provide a current updated CPM Schedule in compliance
with the requirements of this Agreement and Owner reasonably determines that any activity on a critical path is delayed such that
Substantial Completion is forecasted to occur twenty (20) or more Days after the applicable Guaranteed Substantial Completion Date
or a Milestone is forecasted to occur twenty (20) or more Days after the applicable Milestone Date or (iii) Contractor fails to
achieve a Milestone within twenty (20) Days after the applicable Milestone Date, and, in each such circumstance, Contractor or
any of its Subcontractors or Sub-subcontractors are responsible for such delay, then Owner may order that Contractor provide a
recovery schedule (“Recovery Schedule”) for Owner’s written approval as soon as reasonably possible,
but no later than twenty (20) Business Days after such order. If Owner disapproves the Recovery Schedule then Contractor shall,
as soon as reasonably possible, but no later than twenty (20) Business Days after such disapproval, provide a new Recovery Schedule
for Owner’s written approval. The Recovery Schedule shall (a) represent Contractor’s best judgment as to how it shall
regain compliance with the Milestone Dates, within a time period acceptable to Owner and (b) include detailed information (in at
least the same level of detail as the Milestone Dates) in a form reasonably satisfactory to Owner to demonstrate the ability of
Contractor to regain compliance with the Milestone Dates within a time period acceptable to Owner. Contractor shall perform the
Work in accordance with the Owner approved Recovery Schedule.

5.5 
Acceleration. Owner may, at any time,
direct Contractor pursuant to a Change Order under Section 6.1 to accelerate the Work, by among other things, establishing
additional shifts, paying or authorizing overtime or providing additional equipment. In the event of any such directive, Owner’s
sole liability shall be to pay Contractor any documented costs clearly and solely attributable to such acceleration. Such costs
shall include to Contractor any shift differential, premium, or overtime payments to workers or field supervisors and other employees
of Contractor dedicated to the Work on a full-time basis actually incurred over and above Contractor’s normal rates, inefficiency
related costs caused by such acceleration, and overtime charges for Construction Equipment. Any adjustment to the Guaranteed Maximum
Price or any other Changed Criteria that the Parties agree will be changed by such acceleration for Owner’s acceleration
of the Work shall be implemented by Change Order.

Article
6

CHANGES; FORCE MAJEURE; AND OWNER-CAUSED DELAY

6.1 
Change Orders Requested by Owner. Owner shall
be entitled to a Change Order upon request in accordance with this Section 6.1. Prior to the execution of
any Change Order under this Section Error! Reference source not found., Owner shall notify Contractor of the nature
of the proposed addition to, omission from, deletion from, suspension of, or any other modification or adjustment to the requirements
of this Agreement, by issuing an Owner’s Change Request to Contractor in the form of Schedule D-3.

6.1.1.     
Within five (5) Business Days, or such longer period of time as agreed upon by Owner and Contractor in writing, after Contractor’s
receipt of such Owner’s Change

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Request, Contractor shall respond
to Owner with a written statement in the form of Schedule D-3 detailing:

6.1.1.1.                       
the description of Work to be performed;

6.1.1.2.                       
a preliminary assessment of the effect (if any) such request, were it to be implemented by Change Order, would have on the
Compensation, Milestone Dates, CPM Schedule, Payment Schedule, Minimum Acceptance Criteria, GMP, or any other obligation or potential
liability of Contractor hereunder (collectively or individually, the “Changed Criteria”); and

6.1.1.3.                       
the original Owner’s Change Request number and revision numbers.

6.1.2.     
After submission of Contractor’s written assessment in accordance with Section 6.1.1 and upon Owner’s
written request, Contractor shall provide Owner within ten (10) Business Days, a comprehensive written estimate setting forth in
detail the effect, if any, which such request, if implemented by Change Order, would have on the Changed Criteria. This detailed
estimate shall include all information required by Section 6.5.2, be in the form of Schedule D-4, Part 2 and supplement
and supersede the assessment provided under Section 6.1.1.

6.1.3.     
If the Parties agree on such Changed Criteria for such request, the Parties shall execute a Change Order, which shall be
in the form of Schedule D-1 and such Change Order shall become binding on the Parties as part of this Agreement.

6.1.4.     
If the Parties cannot agree on such Changed Criteria of the proposed Change Order within ten (10) Business Days of Contractor’s
receipt of Owner’s proposed Change Order, or if Owner desires that the proposed changed Work set forth in the proposed Change
Order commence immediately without the requirement of a written statement by Contractor as required under Section 0, Owner
may, by issuance of a unilateral Change Order in the form attached hereto as Schedule D-2, require Contractor to commence
and perform the changed Work specified in the unilateral Change Order, on a time and materials basis in accordance with Article
7. Contractor shall provide Owner, within ten (10) Business Days after receipt of a unilateral Change Order (unless a longer
time is otherwise mutually agreed upon by the Parties in writing), a comprehensive written statement in accordance with Section
6.1.2 detailing the effect of such unilateral Change Order on the Changed Criteria (or if the Parties agree on the effect of such
unilateral Change Order for some but not all of the Changed Criteria, the impact of each of the components of the Changed Criteria
on which the Parties disagree), or (ii) in accordance with the outcome of the dispute resolution procedures set forth in Article
18; provided, however, that Contractor shall perform the Work as specified in such unilateral Change Order and Owner shall
continue to pay Contractor in accordance with the terms of this Agreement and any previously agreed Change Orders pending resolution
of the dispute. Contractor shall provide Owner with bi-weekly schedule updates of Contractor’s progress in such unilateral
Change Order Work, along with its projected completion date for such Work, as well as all costs to be incurred for such Work over
the next thirty (30) Days.

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When Owner and Contractor agree
on the effect of such unilateral Change Order on all of the Changed Criteria, such agreement shall be recorded by execution by
the Parties of a Change Order in the form attached hereto as Schedule D-1, which shall supersede the unilateral
Change Order previously issued and relating to such changed Work. Contractor shall be considered to be in Default under Section
16.1 should it (i) fail to commence the performance of the changed Work or other obligations required in such unilateral Change
Order within three (3) Business Days of receipt of such unilateral Change Order (or within such other time specified in such unilateral
Change Order) or (ii) fail to diligently perform the changed Work or other obligations required in such unilateral Change Order.

6.1.5.     
If Owner omits Work by a Change Order, Owner may subsequently perform such Work itself or have it carried out by other contractors,
provided however to the extent such omission of Work materially and adversely impacts Contractor’s material obligations under
this Agreement (including by way of example and not limitation, achievement of the Minimum Acceptance Criteria), such adverse impact
shall be addressed in the Change Order capturing such omission which may include an extension of time and costs arising from omission
of Work as applicable. In determining the amount to be deducted from the Guaranteed Maximum Price for any change that results in
a reduction in the scope of Work, thereby resulting in a new, reduced Guaranteed Maximum Price, such deduction will include a reduction
in (and the Guaranteed Maximum Price shall be reduced by) the value of the scope of Work being omitted and the Overhead Fee and
the Contractor’s Fee on such value of scope of Work.

6.2 
Change Orders Requested by Contractor.

6.2.1.     
Contractor shall only have the right to a Change Order in the event of any of the following occurrences:

6.2.1.1.                       
Changes in Law that materially and adversely affect Contractor’s actual cost (which costs including Overhead Fee and
Contractor’s Fee shall be adequately documented and supported) of performance of the Work or ability to perform any material
requirement under this Agreement, and with respect to any delays (as that term is defined in Section 6.9) caused by such
Changes in Law, a time extension to the Milestone Dates to the extent allowed under Section 6.8;

6.2.1.2.                       
Acts or omissions of Owner including Owner caused delays that constitute a material breach of this Agreement by Owner and
materially and adversely affect Contractor’s actual cost (which costs shall be adequately documented and supported) of performance
of the Work or ability to perform any material requirement under this Agreement and, with respect to delays caused by Owner that
constitute a material breach of this Agreement by Owner, compensation and a time extension to the Mechanical Completion, Guaranteed
Substantial Completion Date and Final Completion Date to the extent allowed under Section 6.8;

6.2.1.3.                       
Force Majeure to the extent allowed under Section 6.7.1;

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6.2.1.4.                       
 Acceleration of the Work ordered by Owner pursuant to Section 5.5, provided that a Change Order has been
issued by Owner pursuant to Section 6.1;

6.2.1.5.                       
To the extent expressly permitted under Section 13.2.1 or 3.18;

6.2.1.6.                       
Unforeseen Subsurface Conditions at the Site to the extent allowed under Section 2.5.2.2;

6.2.1.7.                       
Purchase of operating spare parts in accordance with Section 3.4;

6.2.1.8.                       
Suspension in Work ordered by Owner pursuant to Section 16.3 to the extent allowed thereunder;

6.2.1.9.                       
Owner’s request for an increase in coverage under the Letter of Credit to cover any increase in the Compensation as
a result of Change Orders, provided that a Change Order for such increased coverage has been executed;

6.2.1.10.                   
Changes in the applicable collective bargaining agreements to craft labor rates that become effective after the Effective
Date of the Agreement; and

6.2.1.11.                   
Owner requiring Contractor to perform work specifically excluded in Contractor’s Exclusions listed in Section H of
Attachment A or Owner’s failure to meet the conditions specified in Contractor’s Clarifications listed in Section
I of Attachment A.

6.2.2.     
Should Contractor desire to request a Change Order under this Section 6.2, Contractor shall, pursuant to Section
6.5, notify Owner in writing in the form set forth in Schedule D-4, Part 1 and issue to Owner a request for a proposed
Change Order in the form attached hereto as Schedule D-4, Part 2, a detailed explanation of the proposed change and
Contractor’s reasons for proposing the change, all documentation necessary to verify the effects of the change on the Changed
Criteria, and all other information required by Section 6.5.

6.2.3.     
If Owner agrees that a Change Order is necessary and agrees with Contractor’s statement regarding the effect of the
proposed Change Order on the Changed Criteria, then Owner shall issue such Change Order, which shall be in the form of Schedule D-1,
and such Change Order shall become binding on the Parties as part of this Agreement upon execution thereof by the Parties.

6.2.4.     
If the Parties agree that Contractor is entitled to a Change Order but cannot agree on the effect of the proposed Change
Order on the Changed Criteria within ten (10) Business Days of Owner’s receipt of Contractor’s written notice and proposed
Change Order and all other required information, or if Owner desires that the proposed changed

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Work set forth in the proposed
Change Order commence immediately, the rights, obligations and procedures set forth in Section 6.1.4 are applicable.

6.2.5.     
If the Parties cannot agree upon whether Contractor is entitled to a Change Order within ten (10) Business Days of Owner’s
receipt of Contractor’s written notice and proposed Change Order in the form set forth in Schedule D-4, then the dispute
shall be resolved as provided in Article 18. Pending resolution of the dispute, Contractor shall continue to perform the
Work required under this Agreement, and Owner shall continue to pay Contractor in accordance with the terms of this Agreement,
any Change Orders and any previously agreed or unilateral Change Orders.

6.3 
Compensation Adjustment; Contractor Documentation.
If a Change Order is executed on a time and materials basis pursuant to Section 6.1.4 or 6.2.4, then
the Guaranteed Maximum Price shall be adjusted using rates set forth in Attachment C, Schedule C-1, or, if not therein,
at rates not to exceed then current market rates. Contractor shall use reasonable efforts to minimize such costs (consistent with
the requirements of this Agreement) and shall provide Owner with options for reducing such costs whenever possible. The foregoing
costs shall be supported by reasonable documentation, including daily work logs, time sheets and receipts.

6.4 
Change Orders Act as Accord and Satisfaction.
Change Orders agreed pursuant to Section 0 or 6.2.3 by the Parties, and unilateral Change Orders entered
into pursuant to Section 6.1.4 or 6.2.4 on a time and materials basis for which the Parties have subsequently agreed
upon the effect of such unilateral Change Order and executed a superseding and mutually agreed upon Change Order as provided in
Section 0 or 6.2.3, shall constitute a full and final settlement and accord and satisfaction of all effects of the
change as described in the Change Order upon the Changed Criteria and shall be deemed to compensate Contractor fully for such change.
Accordingly, Contractor expressly waives and releases any and all right to make a claim or demand or to take any action or proceeding
against Owner for any other consequences arising out of, relating to, or resulting from such change reflected in such Change Order,
whether the consequences result directly or indirectly from such change reflected in such Change Order, including any claim or
demand for damages due to delay, disruption, hindrance, impact, interference, inefficiencies or extra work arising out of, resulting
from, or related to, the change reflected in that Change Order (including any claims or demands that any Change Order or number
of Change Orders, individually or in the aggregate, have impacted the unchanged Work).

6.5 
Timing Requirements for Notifications and Change Order Requests by Contractor.
Should Contractor desire to seek an adjustment to the Guaranteed Maximum Price, the Milestone Dates, the Guaranteed Substantial
Completion Date or the Guaranteed Final Completion Date, the Payment Schedule, any of the Minimum Acceptance Criteria, or any other
modification to any other obligation of Contractor under this Agreement for any circumstance that Contractor has reason to believe
may give rise to a right to request the issuance of a Change Order, Contractor shall, with respect to each such circumstance:

6.5.1.     
Notify Owner in writing in the form of Schedule D-4, Part 1 of the existence of such circumstance within fifteen
(15) Days of the date that Contractor knew or

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reasonably should have known of
the first occurrence or beginning of such circumstance, provided that such notice shall be given prior to the expiration
of such fifteen (15) Day period should any action or inaction by Owner or Contractor be required or necessary in relation to such
circumstance to prevent or mitigate any damages or losses to either Party. If any such action or inaction is required, Contractor
shall give notice within five (5) Days, unless such circumstance is an emergency in which case notice shall be given immediately.
In such notice, Contractor shall state in detail all known and presumed facts upon which its claim is based, including the character,
duration and extent of such circumstance, the date Contractor first knew of such circumstance, any activities impacted by such
circumstance, the cost and time consequences of such circumstance (including showing the impact of such circumstance, if any, on
the critical path of the CPM Schedule) and any other details or information that are expressly required under this Agreement. Contractor
shall only be required to comply with the notice requirements of this Section 6.5.1 once for continuing circumstances, provided
the notice expressly states that the circumstance is continuing and includes Contractor’s best estimate of the impact on
any Changed Criteria by such circumstance; and

6.5.2.     
Submit to Owner a request for a proposed Change Order in the form of Schedule D-4, Part 2 as soon as reasonably practicable
after giving Owner the written notice described above but in no event later than ten (10) Days after such notice, together with
a written statement (i) detailing why Contractor believes that a Change Order should be issued, plus all documentation reasonably
requested by or necessary for Owner to determine the factors necessitating the possibility of a Change Order and all other information
and details expressly required under this Agreement (including the information required by Attachment C, detailed estimates
and cost records, daily time sheets, a graphic demonstration using the CPM Schedule and a time impact analysis showing Contractor’s
entitlement to a time extension to the Milestone Dates pursuant to the terms of this Agreement, which shall be provided in hard
copy and in its native electronic format); and (ii) setting forth the effect, if any, which such proposed Change Order would have
for the Work on any of the Changed Criteria.

The
Parties acknowledge that Owner will be prejudiced if Contractor fails to provide the notices and proposed Change Orders as required
under this Section 6.5, and agree that such requirements are an express condition precedent necessary to any
right for an adjustment in the Guaranteed Maximum Price, the Guaranteed Substantial Completion Date or Guaranteed Final Completion
Date, Payment Schedule, any Work, any of the Minimum Acceptance Criteria, or any other modification to any other obligation of
Contractor under this Agreement.

6.6 
Adjustment Only Through Change Order.
No change in the requirements of this Agreement, whether an addition to, deletion from, suspension of or modification to this Agreement,
including any Work, shall be the basis for an adjustment for any change in the Guaranteed Maximum Price, the Milestone Dates (including
the Guaranteed Substantial Completion Date or Guaranteed Final Completion Date), any Work, the Payment Schedule, any of the Minimum
Acceptance Criteria, or any other obligations of Contractor or right of Owner under this Agreement unless and until such addition,
deletion, suspension or

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modification has been authorized
by a Change Order executed and issued in accordance with and in strict compliance with the requirements of this Article 6.

6.7 
Force Majeure.

6.7.1.     
Contractor Relief. If the commencement, prosecution or completion of any Work is delayed by Force Majeure,
then Contractor shall be entitled to (i) an extension to the Guaranteed Substantial Completion Date if such delay affects the performance
of any Work that is on the critical path of the CPM Schedule and causes Contractor to complete the Work beyond the Guaranteed Substantial
Completion Date, but only if Contractor is unable to proceed with other portions of the Work so as not to cause a delay in the
Guaranteed Substantial Completion Date, and (ii) an adjustment to the Guaranteed Maximum Price for the costs incurred by Contractor
that could not be mitigated by commercially reasonable efforts and that are not covered by insurance, and, in each case, Contractor
complies with the notice and Change Order request requirements in Section 6.5 and the mitigation requirements in Section
6.10. Any adjustment to the Guaranteed Maximum Price and Milestone Dates shall be recorded in a Change Order.

6.7.2.     
Payment and Indemnification Obligations. No obligation of a Party to pay moneys under or pursuant to this
Agreement or to provide indemnification under this Agreement shall be excused by reason of Force Majeure.

6.8 
Delay Caused by Certain Conditions. Subject
to Sections 2.5.1 and 3.1.1, should (a) (i) Owner or any Person acting on behalf of or under the control of Owner
(other than any Contractor Indemnified Party) delay the commencement, prosecution or completion of the Work, (ii) Owner fail to
meet any of its material responsibilities when required including by way of example and not limitation late delivery of Owner Supplied
Equipment, plans, or specifications, (iii) provide inaccurate plans or specifications related to Owner Supplied Equipment, (iv)
Owner or Owner parties fail to obtain necessary rights of access to the worksite, (v) there be a failure of other providers of
the Owner to complete work which is a prerequisite to the performance of the work by Contractor as specified in this Agreement,
(vi) there be defects in Owner-Supplied Items, or (vii) there be delays caused by Owner’s occupancy or use of the Work pursuant
to Section 12.7, and, for each of the circumstances described in subsections (i) through (vii), if such delay is not in
any way attributable to Contractor or its Subcontractors or Sub-subcontractors but is caused by Owner’s breach of an express
obligation of Owner under this Agreement, or, should (b) Owner order a change in the Scope of the Work (provided that a Change
Order has been issued in accordance with Section 6.1); (c) Owner suspend the Work for which Contractor is entitled to relief
under Section 6.2.1.8; (d) a Change in Law occur for which Contractor is entitled to relief under Section 6.2.1.1;
(e) Unforeseen Subsurface Conditions occur for which Contractor is entitled to relief under Section 2.5.2.2; (f)
there be a failure to achieve the Minimum Acceptance Criteria for which Contractor is entitled to relief under Section 12.4.1.2;
or (g) an event occurs that entitles Contractor to a Change Order pursuant to Section 6.2.1.11, in each case, delay commencement,
prosecution or completion of the Work, then Contractor shall be entitled to an adjustment to the Guaranteed Maximum Price and an
extension to the Guaranteed Substantial Completion Date if (i) such delay affects the performance of any Work that is on the critical
path of the CPM Schedule, and (ii) such delay causes Contractor to complete the Work beyond the

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Guaranteed Substantial Completion
Date, and, in each case, Contractor complies with the notice and Change Order request requirements in Section 6.5 and the
mitigation requirements of Section 6.10. Any adjustment to the Guaranteed Maximum Price shall be for reasonable, additional
direct costs incurred by Contractor for such delay meeting the requirements of this Section 6.8, and any adjustments to
the Guaranteed Maximum Price or the Milestone Dates shall be recorded in a Change Order. The Parties agree that if they execute
a Change Order with respect to any change in the Scope of Work described in this Section 6.8, any delay arising out of such
change in the Scope of Work and meeting the requirements of this Section 6.8 shall be included in the Change Order incorporating
such change in the Scope of Work.

6.9 
Delay. For the purposes of Sections 6.2.1.1,
6.2.1.2, 6.7 and 6.8, the term “delay” shall include hindrances, disruptions or obstructions,
or any other similar term in the industry and the resulting impact from such hindrances, disruptions or obstructions, including
inefficiency, impact, ripple or lost production.

6.10                     
Contractor Obligation to Mitigate Delay. With
respect to Sections 6.7 and 6.8, in no event shall Contractor be entitled to any adjustment to the
Milestone Dates or any adjustment to the Guaranteed Maximum Price for that portion of delay to the extent Contractor could have
taken, but failed to take, reasonable actions to mitigate such delay.

Article
7

Compensation AND PAYMENTS TO CONTRACTOR

7.1 
Compensation. As compensation in full
to Contractor for the full and complete performance of the Work and all of Contractor’s other obligations under this Agreement
with respect to the Work, Owner shall pay and Contractor shall accept the Direct Costs of the Work, the Overhead Fee, and the Contractor’s
Fee, all as described below (collectively, the “Compensation”), up to the Guaranteed Maximum Price in
accordance with Section 7.2. The Compensation and Guaranteed Maximum Price are subject to adjustment only by Change Order
as provided in provided in Article 6 and include all Taxes, costs, charges, and expenses of whatever nature applicable to
the Work. For the avoidance of doubt, the Guaranteed Maximum Price does not include California state and local sales and use taxes
for which Owner shall reimburse Contractor pursuant to Article 8.

7.2 
Guaranteed Maximum Price.

7.2.1.     
The sum of the Direct Costs of the Work, the Overhead Fee, and the Contractor’s Fee (excluding California sales and
use tax per Section 7.1 above) is guaranteed by Contractor not to exceed One Hundred Seventy Eight Million Thirteen Thousand
One Hundred and Sixty Four U.S. Dollars (U.S. $ 178,013,164.00 ) (the “Guaranteed Maximum Price” or “GMP”),
subject to additions and deductions by Change Order as provided in the Agreement. Notwithstanding anything to the contrary in this
Agreement, (i) Contractor shall not charge and Owner shall not be required to pay any amounts which would otherwise be considered
a part of the Compensation if such Work arises out of or relates to Contractor’s gross negligence or fault, or any amounts
defined as a Disallowed Cost, and (ii) Contractor shall not charge and Owner shall not be required to

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pay any amounts in excess of the
Guaranteed Maximum Price (which is subject to adjustment by Change Order as permitted in Article 6 of this Agreement).

7.2.2.     
Contractor shall include with its CPM Schedule submission pursuant to Section 5.3.1 a schedule of values (“Schedule
of Values”) for the Project, which shall be comprised of no less than one hundred (100) activities and an associated
price for each activity. The Schedule of Values shall be submitted for Owner’s approval and once agreed upon, shall be included
via Change Order in Attachment C, Schedule C-2. Afterwards, Contractor in its Monthly Progress Report shall provide
a percent completion of each activity and amounts remaining to be Invoiced for such activity. Contractor may reallocate amounts
within the Schedule of Values (increasing the amounts of some line items and decreasing others) as reasonably necessary to maintain
its cash flow but only if such reallocation reasonably allocates the remaining payments so that the GMP will not be exceeded before
achieving Substantial Completion (and in all cases, subject to Section 7.2.3).

7.2.3.     
Attachment C, Schedule C-3 includes a schedule of the maximum cumulative amounts that Contractor is allowed
to Invoice Owner at any one time during the performance of the Work (the “Maximum Cumulative Payment Schedule”).
Contractor may not at any time invoice cumulative amounts in excess of the amount listed in Maximum Cumulative Payment Schedule
without Owner’s prior written consent.

7.2.4.     
Attachment BB sets forth how the Parties calculated (i) the Guaranteed Maximum Price, and (ii) any future credits
which shall reduce the Guaranteed Maximum Price by payments Owner makes to Owner’s Prior EPC Contractor after the Effective
Date of the Agreement for Work performed under Owner’s Prior EPC Agreement.

7.3 
Direct Costs to be Reimbursed. Owner
shall reimburse Contractor for the Direct Costs of the Work in accordance with this Agreement. “Direct Costs of the
Work” means the actual costs necessarily incurred by the Contractor in the proper performance of the Work. Such actual
costs for labor shall be at rates not higher than those set forth in the Payment Schedule except with prior consent of the Owner,
provided that the Hourly Rates shall only be subject to adjustment as the relevant union agreement(s) expires or as a matter of
Change in Law. The Direct Costs of the Work shall include only the items set forth in this Section 7.3 and shall exclude
(i) those items within the definition of Overhead Costs in Section 7.4 and (ii) those items within the definition of Contractor’s
Fee in Section 7.5, but shall include those items within the definition of Affiliate Costs in Section 7.7. Where any cost
is subject to the Owner’s prior approval, Contractor shall obtain this approval prior to incurring the cost.

7.3.1.     
Labor Costs.

7.3.1.1.                       
Owner shall pay the hourly rates for labor pursuant to this Section 7.3.1.1 below (the “Hourly Rates”)
at rates (and components of rates) not higher than those set forth in the Payment Schedule for Contractor’s personnel and
Affiliate Subcontractors’ personnel engaged in the Work and all Subcontractor personnel engaged in the Work on a cost-plus
basis (without a lump sum or fixed price). Owner shall also pay the applicable overtime Hourly Rates in accordance

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with Section 7.3.1.8 below,
provided that Contractor actually pays overtime to such personnel in accordance with Section 7.3.1.8. Hourly Rates shall
apply to each billable man-hour actually paid in the proper performance of the Work. Notwithstanding anything to the contrary anywhere
in this Section 7.3 or in this Agreement, billable manhour for union personnel shall mean the hours paid for by Contractor
in accordance with the relevant union agreements.

7.3.1.2.                       
Hourly Rates for union personnel shall be all-inclusive and shall show the following cost breakdown for Contractor or the
applicable Subcontractor or Affiliate Subcontractor: (i) the amount of the regular, actual taxable wages, actual fringe benefits
for such employee; (ii) an amount for Contractor’s full statutory burdens, of taxable wages including statutory payroll liabilities
for such employee, including, where required by Applicable Law, social security tax, Medicare tax, federal and state unemployment
tax, local payroll tax, worker’s compensation and (iii) an amount for all additional costs incurred by Contractor or the
applicable Subcontractor or Affiliate Subcontractor insurance accruals for the insurances covered by Contractor. No other amounts
shall be permitted to be Invoiced unless included and itemized in the cost breakdown set forth above.

7.3.1.3.                       
Hourly Rates for non-union personnel shall be all-inclusive and shall consist of (i) the amount of the regular, actual taxable
wages for such employee; plus (ii) a markup of [...***...] for all engineering personnel and [...***...] for all
other personnel (including site and non-engineering home office personnel) that will include amounts for Contractor’s full
statutory burdens, including statutory payroll liabilities for such employee, including, where required by Applicable Law, social
security tax, Medicare tax, federal and state unemployment tax, local payroll tax, and worker’s compensation. Such markup
shall also include amounts for all additional costs incurred by Contractor or the applicable Subcontractor or Affiliate Subcontractor,
such as insurance premiums regularly paid by Contractor for such employee’s health, life, dental, disability and accident
insurance, contributions regularly made by Contractor to such employee’s 401k, IRA, HSA and FSA accounts, and vacation and
sick pay for such employee. No additional amounts shall be permitted to be Invoiced. Hourly Rates for Contractor’s Offshore
Affiliates personnel shall be an all-inclusive unit rate of fifty five U.S. Dollars ($55.00) per hour and shall be deemed to cover:
(i) the regular, actual taxable wages for such employee; and (ii) Contractor’s Offshore Affiliate taxable wages including
statutory payroll liabilities for such employee, including, where required by Applicable Law, social security tax, Medicare tax,
federal and state unemployment tax, local payroll tax, worker’s compensation, insurance premiums regularly paid by Contractor’s
Offshore Affiliate for such employee’s health, life, dental, disability and accident insurance, contributions regularly made
by Contractor’s Offshore Affiliate to such employee’s 401k, IRA, HSA and FSA accounts, and vacation and sick pay for
such employee. No other amounts shall be permitted to be Invoiced unless included and itemized in the cost breakdown set forth
above.

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7.3.1.4.                       
 The breakdown of the regular, taxable wages paid to Contractor’s personnel, as well as the burdens described above,
are attached to this Agreement as part of the Payment Schedule.

7.3.1.5.                       
In addition to those items identified in Section above, the Hourly Rates shall be inclusive of the costs and expenses
related to basic safety supplies and small tools with less than a one thousand U.S. Dollar (U.S. $1,000) dollar replacement value.

7.3.1.6.                       
“Show-up Pay” means costs for Contractor’s personnel unable to work due to reasons outside
of Contractor’s reasonable control. In the event any of Contractor’s personnel show up to work but are unable to perform
Work that Day for reasons outside of Contractor’s reasonable control, Contractor shall be reimbursed Show-up Pay by Owner.
Such reimbursement shall be for the greater of two (2) hours or the hours actually worked that Day, per reimbursable employee.
Show-up Pay must be approved by Owner in signed timesheets as required prior to reimbursement. Contractor shall not be reimbursed
Show-up Pay for any personnel costs included in the Contractor’s Fee or the Overhead Costs.

7.3.1.7.                       
Notwithstanding anything to the contrary, Hourly Rates and their components shall only be subject to adjustment as the applicable
union agreements expire or as a matter of Change in Law.

7.3.1.8.                       
Owner will reimburse Contractor for any overtime approved in writing, being time expended in the performance of the Work
exceeding the overtime thresholds established by the relevant union agreement(s) or, if no union agreements apply, the Applicable
Law will govern.

7.3.1.9.                       
Approval is required for any hours worked over forty (40) hours a week, and any hours worked on weekends.

7.3.1.10.                   
Owner will reimburse Contractor for per-diem(s) and travel pay based on the actual costs incurred by Contractor. Contractor
shall seek Owner’s prior written approval for the personnel who will receive per diem and/or travel pay.

7.3.2.     
Subcontract Costs. Excluding Contractor’s Offshore Affiliates, payments made by Contractor to Subcontractors
in accordance with the requirements of the Subcontracts will be at actual cost (provided that Hourly Rates are Invoiced as set
forth in Section 7.3.1 unless it is a fixed price or lump sum subcontract, in which case, the entire amount is invoiced at actual
cost). Notwithstanding the foregoing, payments made by Contractor to Subcontractors under Subcontracts to which Contractor has
taken assignment from Owner or Owner’s Prior EPC Contractor shall be Invoiced in accordance with the requirements of such
Subcontracts.

7.3.3.     
Costs of Materials, Consumables, and Equipment Incorporated in the Completed Construction. Costs, including
transportation and storage, of materials and Equipment incorporated or to be incorporated in the completed construction and costs
of

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such materials in excess of those
actually installed to allow for reasonable waste and spoilage. Unused excess materials, if any, shall become the Owner’s
property at the completion of the Work.

7.3.4.     
Costs of Other Equipment, Temporary Utilities, Facilities and Related Items. Rental charges for temporary
facilities, utilities, structures, furniture, machinery, equipment, form work, welding gases and electrodes, and hand tools not
customarily owned by construction workers that are provided by Contractor at the Site and costs of transportation, installation,
minor repairs, dismantling and removal thereof. Rates of Contractor-owned Construction Equipment are set forth in the Payment Schedule
and the quantities and scheduling of such Construction Equipment shall be agreed upon with Owner in advance of any use at the Site.
Owner shall not be responsible for reimbursing Contractor for any period of time in which Construction Equipment is not fully capable
of performing Work (i.e., periods of repair or maintenance) or for storage of Construction Equipment that is not needed
for the construction activities contemplated, unless agreed to by Owner. Construction Equipment is not fully capable of performing
Work during mobilization, demobilization, erection and disassembly, and decontamination and washing of such Construction Equipment.
Upon Owner’s request, Contractor shall support any invoiced amounts by providing documentation demonstrating that Construction
Equipment was required to perform or support the Work scope, on-Site and fully capable of performing the Work.

7.3.5.     
Costs of Other Materials. Costs of document reproductions, facsimile transmissions and long-distance telephone
calls, postage and parcel delivery charges, mobile phone, telephone land line service at the Site and reasonable petty cash and
other miscellaneous expenses of the Site office.

7.3.6.     
Debris Removal and Disposal. Costs of removal of debris from the Site and its proper and legal disposal.

7.3.7.     
Stored Materials. Costs of materials and Equipment suitably stored off the Site at a mutually acceptable location,
subject to the Owner’s prior approval.

7.3.8.     
Taxes. Sales, use, gross receipts, value added or similar taxes imposed by a Governmental Instrumentality
that are related to the Work and for which Contractor is liable, except for any California sales tax and value added tax paid directly
by Owner.

7.3.9.     
Permits and Licenses. Fees and assessments for the Permits which Contractor is required by this Agreement
to obtain.

7.3.10. 
Third Party Services. Fees of third-party service providers including laboratories for tests required by this
Agreement, except those related to nonconforming or Defective Work.

7.3.11. 
Royalties and License Fees. Royalties and license fees paid for the use of a particular design, process or
product required by this Agreement.

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7.3.12. 
 Suits and Settlements for Infringement. The cost of defending suits or claims for infringement of patent
rights arising from royalties and license fees paid for the use of a particular design, process or product required by this Agreement;
and payments made in accordance with legal judgments against this Agreement resulting from such suits or claims and payments of
settlements made with the Owner’s consent, in each case, to the extent costs are due to the use of a particular design, process
or product specifically required by Owner and that has caused Contractor to deviate from its normal course of performance.

7.3.13. 
Deposits. Deposits lost for causes other than Contractor’s negligence or failure to fulfill a specific
responsibility in this Agreement.

7.3.14. 
Emergencies. Costs incurred in taking action to prevent threatened damage, injury or loss in case of an emergency
affecting the safety of persons and property.

7.3.15. 
Corrective and Defective Work. Costs of repairing or correcting damaged or nonconforming Work executed by
Contractor or its Subcontractors or Sub-subcontractors, provided that such damaged or nonconforming Work was not caused in whole
or in part by gross negligence or failure to fulfill a specific responsibility of Contractor, including Contractor’s gross
negligence or fault in adequately supervising and directing the Work of any Subcontractor or Sub-subcontractor, and only to the
extent that the cost of repair or correction is not recoverable by Contractor from insurance, sureties, Subcontractors, suppliers,
or others after reasonable efforts to do so.

7.3.16. 
Other. Other costs incurred in the performance of the Work if, and to the extent, approved in advance in writing
by the Owner.

7.3.17. 
Security, Insurance Premiums, and Deductibles. Costs incurred in obtaining contract securities as required
by Owner including any bond or letter of credit premiums as well as builder’s risk insurance related costs including any
deductibles associated therewith.

7.4 
Overhead.

7.4.1.     
Overhead Fee. Owner shall pay Contractor for performance of the Work an amount equal to [...***...]
of the Direct Costs of the Work for all costs and expenses associated with Contractor’s Overhead Costs for the Project (“Overhead
Fee”). In no instance will the amounts payable for Overhead Costs through the Overhead Fee be subject to a mark-up
for the Contractor’s Fee.

7.4.2.     
Overhead Costs. The following costs shall be considered to be “Overhead Costs”:
(i) estimating services and services relating to purchase of tools and consumables performed in the Contractor’s offices;
(ii) wages and salaries (including all taxes, insurance and other items set forth in Section) for Contractor’s program
management, supervisory, accounting and administrative personnel performed in Contractor’s offices off-Site; (iii) all other
costs and expenses associated Contractor’s offices off-Site, including all office equipment and furniture, office supplies,
computers, fax/copier/postage, telephone and set-up, printing, allowances, and travel expenses/auto/parking; (iv) all taxes, fees
or levies paid

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or payable by Contractor, imposed
by a Governmental Instrumentality, which are related to any of the Overhead Costs; and (v) all costs and expenses for the provision
of insurance that Contractor is required to provide under this Agreement, including the premiums and other costs and expenses for
Commercial General Liability Insurance, Workers’ Compensation Insurance, Employer’s Liability Insurance, Automobile
Liability Insurance, and Umbrella Liability Insurance.

7.5 
Contractor’s Fee. Contractor’s
Fee shall be equal to [...***...] ([...***...]%) of the Direct Costs of the Work (“Contractor’s
Fee”).

7.6 
Disallowed Costs. Notwithstanding anything
to the contrary herein and subject to Contractor’s right to dispute such decision pursuant to Article 18, Contractor
shall not be entitled to payment or compensation for any Disallowed Cost. “Disallowed Cost” means any
cost, other than Direct Costs of the Work, which Owner, in good faith, decides:

7.6.1.     
is not reasonable or is not necessarily incurred or paid by Contractor in accomplishing Work or was not properly and reasonably
incurred by Contractor solely and exclusively in accordance with this Agreement;

7.6.2.     
is not supported by Contractor’s accounts and records;

7.6.3.     
incorrectly includes profit and/or an element of the Contractor’s Fee;

7.6.4.     
incorrectly includes compensation elements provided for elsewhere in this Article 7 (to the extent such compensation
elements are already covered by other portions of the Compensation hereunder);

7.6.5.     
should not have been paid to Contractor or a Subcontractor or Sub-subcontractor in accordance with the express terms of
the relevant purchase order, Subcontract, or Sub-subcontract;

7.6.6.     
does not relate to the performance of the Work;

7.6.7.     
was a cost for or in connection with:

7.6.7.1.                       
any loss or damage for which Contractor is liable pursuant to this Agreement;

7.6.7.2.                       
a consequence resulting from sole gross negligent acts, willful misconduct or breach by Contractor;

7.6.7.3.                       
any expediting costs necessitated by sole or gross negligence, willful misconduct or direct fault of Contractor to the extent
such expediting costs are not offset by savings in reimbursable costs;

7.6.7.4.                       
any third party liability of Contractor for which Owner is not liable to indemnify Contractor under this Agreement; or

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7.6.7.5.                       
 any other loss or liability incurred by Contractor, other than deductibles, for which insurance has been obtained pursuant
to this Agreement;

7.6.8.     
is a cost that Contractor will recover from third parties or Project-specific insurance, or, using reasonable efforts, would
have recovered under such insurance;

7.6.9.     
is a cost of correcting serial Defects;

7.6.10. 
is for resources that are in excess of that required for Work or that are not approved in writing;

7.6.11. 
is a cost incurred in related to the settlement of any Disputes if Contractor is not the prevailing party;

7.6.12. 
is payment under a purchase order which are payable by Owner separately under each such purchase order;

7.6.13. 
is a cost incurred by Contractor in relation to the payment of any Delay Liquidated Damages or the discharge (whether by
payment, set-off or otherwise) of any liability owed by Contractor to Owner or is otherwise a cost which this Agreement provides
is to be payable by Contractor to Owner; provided, however, any remaining contingency amounts within the GMP at Substantial Completion
can be used by Owner to offset Delay Liquidated Damages owed by Contractor, but only after subtracting any delay liquidated damages
Contractor recovers from any Subcontractor for delays caused by any such Subcontractor;

7.6.14. 
is a cost consisting of the reimbursement by way of counter-indemnity or otherwise by Contractor of any sums paid by the
any issuer of any bond or any other security provider;

7.6.15. 
is a fine, penalty remediation cost or similar cost imposed on Contractor or a Subcontractor or Sub-subcontractor pursuant
to or in consequence of any non-observance of any Applicable Law or Permit;

7.6.16. 
are expenses relating to Contractor’s operating capital, including interest on Contractor’s capital employed
in support of the Work; or

7.6.17. 
is incurred because of any other risk or circumstance which was the cost, expense or to the account of Contractor, including
Taxes and all other items to be borne by Contractor.

7.7 
Affiliate Costs. “Affiliate Costs”
means payments made by Contractor to Affiliate Subcontractors pursuant to any Affiliate Subcontract, which shall be made by Contractor
to an Affiliate Subcontractor on a pass-through basis without any mark-up charged by such Affiliate Subcontractor to Contractor.
Affiliate Costs shall consist of the Hourly Rates (as described in Section 7.3.1) charged by the respective Affiliate Subcontractor
for its personnel, which shall be all inclusive and itemized as described in Section 7.3.1. Contractor may only charge to
Owner a mark-up for the Overhead Fee or the Contractor’s Fee on the Affiliate Subcontractor’s

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costs charged to Contractor and
which Contractor seeks reimbursement from Owner as a Direct Costs of the Work, and such Affiliate Subcontractor may not charge
any mark-up to Contractor.

7.8 
Interim Payments.

7.8.1.     
Payments. Progress payments shall be made by Owner to Contractor for the Direct Costs of the Work incurred
during the applicable payment period, plus Contractor’s Fee owed (calculated as a percentage of the Direct Costs of the Work
for the payment period), plus Overhead Fee owed (calculated as a percentage of the Direct Costs of the Work for the payment period),
and in any event, based on the progress of the Work. Owner shall also reimburse applicable California sales and use Taxes in accordance
with Article 8. Each payment shall be subject to Owner’s right to withhold payments under this Agreement. Payments
shall be made in U.S. Dollars to an account(s) designated by Contractor.

7.8.2.     
Deposit Payment: After the issuance of the Notice to Proceed, upon receipt of an appropriate invoice from
Contractor, Owner shall make a onetime payment of [...***...] ([...***...]%) of the GMP to Contractor (“Deposit
Payment”) in the following two installments: (i) fifty percent (50%) of the Deposit Payment shall be paid by Owner
to Contractor within two (2) Business Days after Owner’s issuance of NTP, and (ii) the remainder of the Deposit Payment shall
be paid by Owner to Contractor within fourteen (14) Business Days after the first payment in subsection (i), above. The Deposit
Payment shall be credited back to Owner in an amount equal to [...***...] ([...***...]%) of each amount Invoiced
by Contractor throughout the execution of Work, provided that Contractor may not retain any amount of the Deposit Payment at Substantial
Completion, and Contractor shall, as an additional condition to achieving Substantial Completion, release all remaining amounts
of the Deposit Payment to Owner (if any). Additionally, in the event of the termination of this Agreement for any reason, Contractor
shall return the remainder of the Deposit Payment to Owner, as further described in Section 16.2.

7.8.3.     
Invoices. No later than ten (10) Days after the end of each Month, Contractor shall submit to Owner an Invoice
for all Compensation earned during the prior Month that includes (i) a detailed description of all Direct Costs of the Work incurred
during such period, (ii) time sheets signed by Owner, on-site data reports, Subcontractor invoice information, and any other information
reasonably requested by Owner for Owner to evaluate the Direct Costs of the Work (including all original documentation if requested
by Owner), and (iii) and California sales and use Taxes incurred in the procurement of the Equipment in accordance with Article
8. All Invoices, other than the Invoice for final payment under this Agreement, shall be in the form of Schedule I-1,
and shall include all documentation supporting the request for payment as required under this Agreement.

7.8.4.     
Lien Waivers. Each Invoice received by Owner prior to Final Completion of the Project shall be accompanied
by (i) fully executed Lien Waivers upon Progress Payment from Contractor in the forms of Schedule K-1 for all Work performed
through the date for which payment is requested, (ii) fully executed Lien Waivers upon Progress Payment from each Major Subcontractor
in the forms of Schedule K-1 for all Work

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performed through the date for
which payment is requested and (iii) if requested by Owner, fully executed Lien Waivers upon Progress Payment from all Major Sub-subcontractors
requested in substantially the forms of Schedule K-1 for all Work performed through the date for which payment is requested.
Lien Waivers upon Progress Payment, however, shall not be required from Major Subcontractors or Major Sub-subcontractors until
they have performed Work, and Major Subcontractors and Major Sub-subcontractors shall be required to submit additional Lien Waivers
upon Progress Payment only if they have performed Work not covered by a previous Lien Waiver upon Progress Payment. Submission
of all Lien Waivers upon Progress Payment is a condition precedent to payment of any Invoice.

7.8.5.     
Review and Approval. Each Invoice shall be reviewed by Owner and, upon Owner’s reasonable request, Contractor
shall furnish such supporting documentation and certificates and provide such further information as may be reasonably requested
by Owner. Unless disputed by Owner, each Invoice (less any withholdings allowed under this Agreement) shall be due and payable
thirty (30) Days after it, and all documentation required under this Agreement, is received by Owner. If an Invoice is disputed
by Owner, then payment shall be made for all undisputed amounts and the dispute shall be resolved pursuant to Article 18.
Payment on disputed amounts shall be made as soon as such dispute is resolved.

7.9 
Final Completion and Final Payment. Upon Final
Completion of the Project, Contractor shall, in addition to any other requirements in this Agreement for achieving Final Completion,
including those requirements set forth in Section 1.1 for the definition of Final Completion, submit a fully
executed final Invoice in the form attached hereto as Schedule I-2, along with (i) a statement summarizing and reconciling
all previous Invoices, payments and Change Orders, (ii) an affidavit that all payrolls, Taxes, liens, charges, claims, demands,
judgments, security interests, bills for Contractor-Supplied Equipment, and any other indebtedness connected with the Work have
been paid, (iii) fully executed Lien and Claim Waivers upon Final Payment from Contractor in the forms of Schedules K-2
and K-4, (iv) fully executed Lien and Claim Waivers upon Final Payment from each Major Subcontractor in the forms of Schedules
K-2 and K-5, (v) if requested by Owner, fully executed Final Lien and Claim Waivers upon Final Payment from each
Major Sub-subcontractor in substantially the forms of Schedules K-2 and K-5, and (vi) a final accounting as set forth
in Section 7.17. No later than thirty (30) Days after receipt by Owner of such final Invoice and all requested documentation
and achieving Final Completion, Owner shall, subject to its rights to withhold payment under this Agreement, pay Contractor the
remaining Compensation due under this Agreement and properly invoiced. Upon such payment, Contractor shall submit to Owner an unconditional
fully executed Lien and Claim Waiver upon Final Payment in the form of Schedule K-3.

7.10                     
Payments Not Acceptance of Work. No payment
made hereunder by Owner shall be considered as approval or acceptance of any Work by Owner or a waiver of any claim or right Owner
may have hereunder. All payments shall be subject to correction or adjustment in subsequent payments.

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7.11                     
 Payments Withheld. In addition to disputed
amounts set forth in an Invoice and any other rights under this Agreement, Owner may withhold payment on an Invoice or a
portion thereof in an amount and to such extent as may be reasonably necessary to protect Owner from loss due to (i) Defective
Work not remedied in accordance with this Agreement; (ii) any material breach by Contractor of any term or provision of this Agreement;
(iii) Contractor’s failure to submit any schedule required under this Agreement in accordance with the Agreement (including
Recovery Schedules, Corrective Work plans and CPM Schedules); (iv) the assessment of any fines or penalties against Owner
as a result of Contractor’s failure to comply with Applicable Law or Applicable Codes and Standards; (v) amounts paid by
Owner to Contractor in a preceding Month incorrectly or for which there was insufficient or inaccurate supporting information;
(vi) Delay Liquidated Damages which Contractor owes; (vii) failure of Contractor to make payments to Subcontractors as required
under their respective Subcontracts; (viii) any other costs or liabilities which Owner has incurred or will incur for which Contractor
is responsible; (ix) liens or other encumbrances on all or a portion of the Site or the Work, which are filed by any Subcontractor,
any Sub-subcontractor or any other Person acting through or under any of them, unless discharged by Contractor in accordance with
this Agreement, excluding liens resulting from Owner’s failure to make undisputed payments to Contractor that are due and
payable and for which Owner does not have a right to withhold in accordance with the payment terms of this Agreement; or (x) any
other reason for which Owner is entitled to withhold payment as expressly set forth in this Agreement.

7.12                     
Interest on Late Payments. Any amounts not
paid when due and payable hereunder shall bear interest at the lesser of (i) an annual rate equal to the prime rate as published
in the Wall Street Journal plus two percent (2%), or (ii) the maximum rate permitted under Applicable Law.

7.13                     
Payments During Default. Owner shall not be
obligated to make any payments hereunder or release payments withheld, at any time in which (i) a Contractor Default shall have
occurred and is continuing, or (ii) an event has occurred which, with the giving of notice or the passage of time, will constitute
a Contractor Default.

7.14                     
Offset. Owner may, upon prior written notice
to Contractor, offset any amount due and payable from Contractor to Owner against any amount due and payable to Contractor hereunder.

7.15                     
Payment of Amounts Withheld or Collected on the
Letter of Credit. Owner shall pay Contractor the amount withheld
or collected on the Letter of Credit if Contractor (i) pays, satisfies or discharges the applicable claim of Owner against Contractor
under or by virtue of this Agreement and provides Owner with reasonable evidence of such payment, satisfaction or discharge, (ii)
cures all such breaches and Defaults in the performance of this Agreement, or (iii) provides Owner with a bank guarantee, bond,
or separate letter of credit reasonably satisfactory to Owner in the amount of the withheld payment. In the event Owner draws down
or collects any amount on the Letter of Credit pursuant to this Section, and Contractor acts in accordance with either (i), (ii)
or (iii) above so as to require payment from Owner, Contractor shall, within seven (7) Days of Owner’s payment to Contractor,
restore the Letter of Credit to the amount the Letter of Credit had immediately prior to Owner’s collection

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on the Letter of Credit under
this Section. Owner’s failure to withhold or draw down or collect against the Letter of Credit in the event of any of the
circumstances described in this Section 7.15 shall not be deemed to be a waiver of any of Owner’s rights under this Agreement,
including Owner’s right to withhold or draw down on the Letter of Credit at any time one of the circumstances in Section
7.11(i) through 7.11(ix) exists.

7.16                     
Conditions Precedent to Payment. It shall
be a condition precedent to Contractor’s entitlement to receive any payment from Owner under this Agreement that Contractor
has provided to Owner (i) the Parent Guarantee in accordance with Section 21.13, (ii) the insurance certificates
for policies referenced in Section 10.1, and (iii) is maintaining the insurance policies in accordance with Section 10.1.
Additionally, it shall be a condition precedent to Contractor’s entitlement to receive any payment from Owner under this
Agreement that Contractor has provided to Owner the Letter of Credit in accordance with Section 10.2 and, if applicable,
restored the Letter of Credit as required by Section 7.15.

7.17                     
Savings. At the end of the Defect Correction
Period, the Contractor shall deliver a final accounting of the cost of the Work (including Direct Costs of the Work, the Overhead
Fee, the Contractor’s Fee) (collectively the “Actual Contract Sum”) to the Owner. If the Actual
Contract Sum is less than the GMP (as adjusted pursuant to this Agreement), then the amount of the difference between the GMP and
the Actual Contract Sum is the cost savings for the Project (“Cost Savings”). Owner shall pay Contractor
f[...***...] ([...***...]%) of the Costs Savings up to a Costs Savings of [...***...] U.S. Dollars ($[...***...])
(i.e., a maximum payment of [...***...] U.S. Dollars ($[...***...])). For any Cost Savings in excess of
[...***...] U.S. Dollars (U.S. $[...***...]), Owner shall pay Contractor [...***...] ([...***...]%)
of such Cost Savings. If the Actual Contract Sum is greater than the GMP, the amount in excess of the GMP incurred by Contractor
will not be reimbursed by Owner. Within seven (7) Days after determining the Actual Contract Sum, Contractor shall be entitled
to invoice Owner for its share of the Cost Savings. No later than thirty (30) Days after receipt by Owner of such Invoice and all
requested documentation, Owner shall, subject to its rights to withhold payment under the Agreement, pay Contractor its share of
the Cost Savings as determined in accordance with this Section 7.17.

Article
8

Taxes

8.1 
California Taxes. Contractor shall be responsible
for timely paying all such Taxes as well as California sales and use taxes and California value-added taxes; provided, however,
that California sales and use taxes and California value-added taxes are excluded from the GMP. Owner shall, in accordance with
Article 7, reimburse Contractor for California sales and use taxes and California value-added taxes imposed on Contractor
directly resulting from the procurement of any Equipment as well as any interest or penalties which may be imposed by a Governmental
Instrumentality at any time on Contractor due to Owner’s failure to timely reimburse Contractor for such California sales
and use taxes and California value-added taxes. Owner’s obligation shall survive termination or completion of the Agreement
and shall end only upon the completion of any time period allowed for audit or investigation by applicable Governmental Instrumentalities.
To the extent Owner timely reimburses Contractor for all such California sales and use taxes and California value-added taxes for
Equipment, (1)

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Contractor shall release Owner
of any further obligations for payment of such California sales and use taxes and California value-added taxes and (2) Contractor
shall be responsible for the payment of any interest or penalties related to Contractor’s failure to timely pay such California
sales and use taxes and California value-added taxes. Owner and Contractor will provide documents, information and data, make submission
to Governmental Instrumentalities, and otherwise cooperate as reasonably necessary to minimize the amount of California sales and
use taxes and California value-added taxes payable for the Equipment. In the event that Contractor is audited for California sales
and use taxes or California value-added taxes for the Equipment, Contractor shall timely inform Owner of such audit, allow Owner
to assist with audit strategy and, at Owner’s expense, allow Owner to take responsibility for defending the audit, protest
or appeal based on mutually satisfactory arrangements. Contractor shall reasonably cooperate with Owner to assist in attempting
to allocate local and district California sales and use taxes to the Site (which may include Contractor applying for a jobsite
sub-permit), including reasonable assistance in causing local California sales and use taxes to be assigned to the Site rather
than to Contractor’s (or any Subcontractor’s or Sub-subcontractor’s) regular place of business in California.
Contractor will reasonably cooperate with any joint refund claim that Owner, or its agents, wishes to file for potentially overpaid
California sales and use taxes or California value-added taxes up to a period of three (3) years after Substantial Completion or
until the running of the applicable statute of limitations, whichever is longer. Notwithstanding the foregoing, if Owner presents
Contractor with evidence that it has an abatement of such California sales and use tax, then Contractor shall not invoice Owner
for such tax, and Owner shall have no obligation to pay such tax.

Article
9

TITLE AND RISK OF LOSS

9.1 
Title. Title to all or any portion
of the Work (other than Work Product) shall pass to Owner upon the earlier of (i) payment by Owner therefor, (ii) delivery of the
Work to the Site, or (iii) incorporation of such Work into the Project. Transfer of title to Work shall be without prejudice to
Owner’s right to reject Defective Work, or any other right in the Agreement. Without limiting Contractor’s rights to
a mechanic’s lien as permitted in this Agreement, Contractor warrants and guarantees that legal title to and ownership of
the Work and the Project shall be free and clear of any and all liens, claims, security interests or other encumbrances when title
thereto passes to Owner.

9.2 
Risk of Loss. 

9.2.1.     
Prior to Substantial Completion. Notwithstanding passage of title as provided in Section 9.1 of this
Agreement, Contractor shall have care, custody and control and bear the risk of loss to the Work and each component thereof (including
all Owner-Supplied Items after delivery to the Site, and including unloading of all Equipment) until Substantial Completion of
the Work occurs, provided that Owner shall bear risk of physical loss and damage to the Work to the extent (a) the costs
associated with such physical loss or damage exceeds the aggregate limits or sub-limits of the builder’s risk insurance to
be obtained by Owner pursuant to Attachment O, (b) such physical loss or damage is not insured under the builder’s
risk insurance policy required to be provided by Owner under Section 2.1.1 of Attachment O to this Agreement because of
the Owner’s failure to

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maintain such policies in full
force and effect at all times required under this Agreement, or (c) such physical loss or damage is not insured under such policies
because of an exclusion, term or condition of such policies; provided however, exception (c) shall not apply (and Contractor shall
therefore bear the risk of physical loss and damage) to the extent such physical loss or damage would have been covered by such
policies but for an act or omission of Contractor or any Subcontractor.

9.2.2.     
After Substantial Completion. After Substantial Completion of the Work, Owner shall bear the risk of physical
loss and damage to the Work, provided that Contractor shall be liable to Owner for all damages, costs, losses and expenses arising
from or related to physical loss and damage to any portion of the Work after the Work achieves Substantial Completion to the extent
such physical loss and damage arises out of or results from or is related to the negligence or fault of any Contractor Indemnified
Party or Subcontractors, subject to a cap in liability of [...***...] U.S. Dollars (U.S.$ [...***...]) per occurrence.
Contractor’s liability arising under this Section 9.2.2 may be charged against the contingency that is contained within the
Guaranteed Maximum Price prior to the determination of any Cost Savings under Section 7.17; provided that, Contractor shall first
seek recovery for such liability from the applicable Subcontractor(s), if any, responsible for the physical loss and damage to
any portion the Work after the Work achieves Substantial Completion.

9.2.3.     
Nothing in this Section 9.2 shall be interpreted to relieve Contractor of any of its other obligations or liabilities
under this Agreement, including its obligations with respect to Warranties, Defective Work or Corrective Work.

Article
10

INSURANCE

10.1                     
Insurance.

10.1.1. 
Provision of Insurance. The Parties shall provide the insurance as specified in Attachment O on terms
and conditions stated therein.

10.1.2. 
No Cancellation. All policies providing coverage hereunder shall contain a provision that at least thirty
(30) Days’ prior written notice shall be given to the non-procuring Parties and additional insureds prior to cancellation,
non-renewal or material change in the coverage with ten (10) Days’ notice prior to cancellation for non-payment of premium.

10.1.3. 
Obligations Not Relieved. Anything in this Agreement to the contrary notwithstanding, the occurrence of any
of the following shall in no way relieve Contractor from any of its obligations under this Agreement: (i) failure by Contractor
to secure or maintain the insurance coverage required hereunder; (ii) failure by Contractor to comply fully with any of the insurance
provisions of this Agreement; (iii) failure by Contractor to secure such endorsements on the policies as may be necessary to carry
out the terms and provisions of this Agreement; (iv) the insolvency, bankruptcy or failure of any insurance company providing insurance
to Contractor; (v) failure of any insurance company to pay

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any claim accruing under its policy;
or (vi) losses by Contractor or any of its Subcontractors or Sub-subcontractors not covered by insurance policies.

10.1.4. 
Failure to Provide Required Insurance. In the event that liability
for any loss or damage is denied by the underwriter or underwriters in whole or in part due to the breach of said insurance by
a procuring Party, or for any other reason attributable to such Party, or if either Party fails to maintain any of the insurance
herein required, then the defaulting Party shall defend, indemnify and hold the other Party harmless against all losses which would
otherwise have been covered by said insurance.

10.2                     
Irrevocable Standby Letter of Credit.
Within forty-eight hours after Contractor receives evidence that an Automatic Clearing House directive has been issued to Contractor’s
account for an amount equal to the first installment of the Deposit Payment, and as a condition precedent to Contractor’s
right to receive any further payments, Contractor shall deliver to Owner an irrevocable standby letter of credit, naming Owner
as beneficiary, in the amount of [...***...] ([...***...]%) of the Guaranteed Maximum Price and in the form of
Attachment AA, and issued and confirmed by a commercial bank in the United States of America with a long-term rating of
at least Investment Grade (“Letter of Credit”). As used herein, “Investment Grade”
means a rating of at least AA by Standard & Poor’s and at least Aa2 by Moody’s Investors Service. If at any time
the rating of the commercial bank that issued the Letter of Credit falls below either of such ratings, Contractor shall replace
the Letter of Credit within ten (10) Days with an equivalent instrument issued by a commercial bank in the United States of America
meeting such rating requirements. Owner shall have the right to draw down on or collect against such Letter of Credit upon Owner’s
demand in the event of a Default by Contractor or the owing by Contractor to Owner under this Agreement for Delay Liquidated Damages
or any other liabilities, damages, losses, costs or expenses arising out of or relating to a breach of any obligation under this
Agreement by Contractor or such Default. The amount drawn on the Letter of Credit shall not be greater than the amount that Owner,
at the time of the drawing, reasonably and in good faith estimates is owed it under the Agreement for Delay Liquidated Damages,
liabilities, damages, losses, costs or expenses or is necessary to remedy the Default or breach of the Agreement. In addition to
the foregoing draw rights, (i) Owner shall also have the right to draw down on or collect against the Letter of Credit for all
remaining funds in the Letter of Credit upon Owner’s demand if Contractor has not, prior to sixty (60) Days before the then
current expiration date, delivered to Owner a replacement letter of credit substantially identical to the Letter of Credit and
from a U.S. commercial bank meeting the requirements in this Section 10.2 and extending the expiration date
for the shorter of (a) a period of one (1) year or (b) the expiration of the Defect Correction Period (i.e., the twelve (12) month
period following Substantial Completion and any extension pursuant to Section 13.3.2), and (ii) Owner shall also have the
right to draw down on or collect against the Letter of Credit for all remaining funds available under such Letter of Credit upon
Owner’s demand if the issuing bank is no longer Investment Grade and Contractor has not, within the applicable time period
set forth in this Section 10.2, delivered to Owner a replacement letter of credit substantially identical to the Letter
of Credit from a U.S. commercial bank meeting the requirements set forth in this Section 10.2.

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10.2.1. 
 The amount of the Letter of Credit shall decrease to an aggregate amount of [...***...] ([...***...]%)
of the Guaranteed Maximum Price upon the commercial bank’s receipt from Owner of (i) a copy of the Substantial Completion
Certificate signed by Contractor and (ii) a copy of the Owner acceptance or rejection of Substantial Completion form signed by
Owner showing that Owner accepts the Substantial Completion Certificate. No later than ten (10) Days after Owner’s acceptance
of the Substantial Completion Certificate, Owner shall provide the commercial bank that issued the Letter of Credit with written
notice of such acceptance.

10.2.2. 
The amount of the Letter of Credit shall decrease to an aggregate amount equal to the greater of [...***...] ([...***...]%)
of the Guaranteed Maximum Price or the amount of Corrective Work outstanding upon the commercial bank’s receipt from Owner
of (i) a copy of the Final Completion Certificate signed by Contractor and (ii) a copy of the Owner acceptance or rejection of
Final Completion form signed by Owner showing that Owner accepts the Final Completion Certificate. No later than ten (10) Days
after Owner’s acceptance of the Final Completion Certificate, Owner shall provide the commercial bank that issued the Letter
of Credit with written notice of such acceptance.

10.2.3. 
The Letter of Credit shall remain in full force and effect from the issuance of the Letter of Credit through the expiration
of the Defect Correction Period for all Work, at which time the Letter of Credit will be returned to Contractor. No later than
ten (10) Days following the expiration of the Defect Correction Period for all Work (i.e. the twelve (12) month period following
Substantial Completion), Owner shall provide the commercial bank that issued the Letter of Credit with written notice of the expiration
of the Defect Correction Period for all Work, unless, at the conclusion of this period, any of Contractor’s Work remains
subject to an extended warranty pursuant to Section 13.3.2, in which case the Letter of Credit shall reduce to an amount
equal to one hundred twenty percent (120%) of the value of the Work remaining under the extended Defect Correction Period, and
no later than ten (10) Days after expiration of such extended time, Owner shall provide the commercial bank that issued the Letter
of Credit with written notice of the expiration of the Defect Correction Period for all Work. Partial drawings are permitted under
the Letter of Credit.

10.3                     
Financial Statements and Material Adverse Change.

10.3.1. 
Financial Statements. As and when Owner may reasonably request for a
fiscal quarter or year-end financial statement, Contractor shall deliver to Owner available audited and unaudited consolidating
and consolidated balance sheets of each of Contractor and Guarantor as of the end of such quarter or year-end, and the related
consolidated statements of operations, income, cash flows, retained earnings and stockholders’ equity for such quarter or
year, all of which shall be certified by the chief financial officer or equivalent officer of each of Contractor and Guarantor,
subject to normal year-end audit adjustments. All financial statements delivered pursuant to this Section 10.3.1
shall be complete and correct in all material respects and shall be prepared in accordance with GAAP applied consistently throughout
the periods reflected therein.

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10.3.2. 
 Material Adverse Change. If at any time during the term of this Agreement, a Material Adverse Change shall
occur, Owner may, in its sole discretion and without prejudice to any other rights or remedies it may have hereunder, require further
assurances, as a condition of Owner’s further performance under this Agreement, of (i) Contractor’s creditworthiness,
financial responsibility and ability to perform its obligations under this Agreement or (ii) Guarantor’s creditworthiness,
financial responsibility and ability to perform its obligations under the Parent Guarantee, and Contractor shall comply with such
further assurances. Owner shall notify Contractor regarding its request for such assurances, including, in form and amount satisfactory
to Owner, any one or more of prepayments, a letter of credit or payment and performance bond. “Material Adverse Change”
for the purposes of this Section 10.3.2 means adverse changes, events or effects that have occurred or been threatened which
could reasonably be likely to (i) materially adversely affect the business, operations, properties, condition (financial or
otherwise), assets or liabilities of Contractor or Guarantor; (ii) prevent or materially delay the performance by Contractor of
any of its obligations under this Agreement; (iii) create a reasonable basis for Owner to have serious doubts about Contractor’s
creditworthiness, financial responsibility or ability to perform its obligations under this Agreement; (iv) prevent or materially
delay performance by Guarantor of any of its obligations under the Parent Guarantee; or (v) create a reasonable basis for Owner
to have serious doubts about Guarantor’s creditworthiness, financial responsibility or ability to perform its obligations
under the Parent Guarantee. Upon Contractor’s failure to provide to Owner, in form and amount satisfactory in Owner’s
reasonable opinion, assurances of Contractor’s or Guarantor’s creditworthiness, as the case may be, financial responsibility
and ability to perform its obligations hereunder within thirty (30) Days following Owner’s request for such assurance, Owner
may terminate this Agreement for Default upon notice to Contractor given no less than seven (7) Days in advance of the effective
date of such termination.

Article
11

OWNERSHIP OF DOCUMENTATION

11.1                     
Ownership of Work Product. Subject to Section
11.2, Owner and Contractor acknowledge that during the course of, and as a result of, the performance of the
Work and prior work related to the Project done by Contractor for Owner, Contractor or its Subcontractors or Sub-subcontractors
will create or have created for this Project certain written materials, plans, calculations, Drawings (including as-built Drawings),
Specifications, Books and Records, computer files, or other tangible manifestations of Contractor’s efforts related to the
Project (hereinafter individually or collectively referred to as “Work Product”). Work Product prepared
by Contractor or its Subcontractors or Sub-subcontractors shall be “works made for hire,” and all rights, title and
interest to the Work Product, including any and all copyrights in the Work Product, shall be owned by Owner irrespective of any
copyright notices or confidentiality legends to the contrary which may have been placed in or on such Work Product by Contractor,
its Subcontractors, Sub-subcontractors or any other Person. Contractor and its Subcontractors and Sub-subcontractors waive in whole
all moral rights which may be associated with such Work Product. If, for any reason, any part of or all of the Work Product is
not considered a work made for hire for Owner or if ownership of all right, title and interest in the Work Product shall not otherwise
vest in Owner, then Contractor agrees, subject to Section 11.2, that such ownership and copyrights in the Work Product,
whether or not such

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Work Product is fully or partially
complete, shall be automatically assigned from Contractor to Owner without further consideration, and Owner shall thereafter own
all right, title and interest in the Work Product, including all copyright interests.

11.2                     
License to Contractor’s Intellectual Property and Third Party Intellectual Property.
As between Owner and Contractor, Contractor shall retain ownership of all proprietary intellectual property rights owned by Contractor
and developed by it outside this Agreement or any other agreement between Owner and Contractor relating to the Project (hereinafter
referred to as “Contractor’s Intellectual Property”), regardless of whether such Contractor’s
Intellectual Property is included in the Work Product, and nothing in Section 11.1 shall result in a transfer
of ownership of any Contractor’s Intellectual Property or the proprietary intellectual property owned and developed by the
Subcontractors, Sub-subcontractors or third parties for any project other than this Project (“Third Party Intellectual
Property”). With respect to such Contractor’s Intellectual Property and Third Party Intellectual Property relating
to the Work or the Project, Contractor hereby grants Owner an irrevocable, perpetual and royalty-free license (including with right
to assign or sublicense its rights without consent to any of the Owner Indemnified Parties or to any purchaser of an interest in
all or part of the Project or any contractors, suppliers or consultants of the Owner Indemnified Parties) to use, copy, modify,
distribute, sell, make, offer for sale, transfer, publish, import, make derivative works and adapt such Contractor’s Intellectual
Property and Third Party Intellectual Property for any purpose relating to the Project or the Work. All Subcontracts and Sub-subcontractors
shall contain provisions consistent with this Section 11.2.

11.3                     
Return/Delivery of Certain Property. All Work
Product, and all copies thereof, shall be returned or delivered to Owner upon the earlier of Substantial Completion of the Project
or termination of this Agreement, except that Contractor may, subject to its confidentiality obligations set forth in Article
19, retain one record set of the Work Product. Contractor shall provide two (2) reproducible Drawings, where applicable; and
two (2) sets (native and PDF files) of documents for those Drawings and Specifications generated using CAD.

11.4                     
Limitations on Use of Work Product. The Work
Product, including all copies thereof, shall not be used by Contractor or its Subcontractors, Sub-subcontractors or any other Persons
on any other project for a Person other than Owner without the prior written consent of Owner, provided that this Section
11.4 shall not limit or modify Contractor’s ownership rights in the Contractor’s Intellectual Property,
or the ownership rights in the Third Party Intellectual Property, as set forth in Section 11.2.

11.5                     
Owner Provided Documents. All written materials,
plans, drafts, specifications, computer files or other documents (if any) prepared or furnished by Owner, its Affiliates or any
of Owner’s other consultants or contractors shall at all times remain the property of Owner, and Contractor shall not make
use of any such documents or other media for any other project or for any other purpose than as set forth herein. All such documents
and other media, including all copies thereof, shall be returned to Owner upon the earlier of Substantial Completion of the Project
and termination of this Agreement, except that Contractor may, subject to its confidentiality obligations as set forth in Article
19, retain one record set of such documents or other media.

Article
12

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COMPLETION

12.1                     
Notice and Requirements for Mechanical Completion.
Mechanical Completion shall be achieved for the Project when the requirements of Mechanical Completion under this Agreement (including
those set forth in the definition of Mechanical Completion under Section 1.1 and the Mechanical Completion checklists
agreed by Owner and Contractor as described below) have been satisfied. No later than forty-five (45) Days after the NTP, Contractor
shall provide to Owner for its review and approval detailed Mechanical Completion requirements, in the form of checklists, for
the Work. Once approved by Owner, such Mechanical Completion checklists shall form a part of the requirements for achieving Mechanical
Completion. Upon Mechanical Completion, Contractor shall certify to Owner in the form of Attachment L (“Mechanical
Completion Certificate”) that all of the requirements under this Agreement for Mechanical Completion have occurred,
including the completion of the requirements in the approved Mechanical Completion checklists.

12.2                     
Notice and Requirements for Substantial Completion.
Contractor shall comply with all requirements for Substantial Completion herein, including as set forth in the definition
of the term Substantial Completion under Section 1.1. Upon achieving all requirements under this Agreement for Substantial
Completion, Contractor shall certify to Owner in the form of Attachment M (“Substantial Completion Certificate”)
that all of the requirements under this Agreement for Substantial Completion have occurred. The Substantial Completion Certificate
shall be accompanied by all other supporting documentation as may be required to establish that the requirements for Substantial
Completion have been met.

12.3                     
Owner Acceptance of Mechanical Completion and Substantial Completion.
Owner shall notify Contractor whether it accepts or rejects each Mechanical Completion Certificate or Substantial Completion Certificate,
as the case may be, within fifteen (15) Days following Owner’s receipt thereof. All Work shall continue during pendency of
Owner’s review. Acceptance of such Mechanical Completion Certificate or Substantial Completion Certificate shall be evidenced
by Owner’s signature on such Mechanical Completion Certificate or Substantial Completion Certificate, which shall be forwarded
to Contractor with such notice. If Owner agrees that Mechanical or Substantial Completion has been achieved as the case may be,
the date of acceptance of Mechanical or Substantial Completion shall be the date the Mechanical or Substantial Completion certificate
was submitted to Owner. If Owner does not agree that Mechanical Completion or Substantial Completion, as the case may be, has occurred,
then Owner shall state the basis for its rejection in reasonable detail in a written notice provided to Contractor. The Parties
shall thereupon promptly and in good faith confer and make all reasonable efforts to resolve such issue. In the event such issue
is not resolved within ten (10) Business Days of the delivery by Owner of its notice, Owner and Contractor shall resolve the dispute
in accordance with the dispute resolution procedures provided for under Article 18 herein. Owner’s acceptance
shall not relieve Contractor of any of its obligations to perform the Work in accordance with the requirements of this Agreement.

12.4                     
Minimum Acceptance Criteria as a Condition of Substantial Completion.
As a condition of Contractor’s achievement of Substantial Completion, the

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Project shall achieve all Minimum
Acceptance Criteria, as evidenced by the Performance Tests and as described in greater detail in this Section 12.4.
The Performance Tests for determining whether the Project achieves the Minimum Acceptance Criteria are described in Attachment
Q. Performance Tests and any repeat Performance Tests shall be performed as specified in Attachment Q. The Minimum Acceptance Criteria
shall not include any performance guarantees of the Owner-Supplied Items, although Contractor will be responsible for proper erection
and installation of the Owner-Supplied Items and supply of services and Contractor-Supplied Equipment to the Owner-Supplied Items
in accordance with the manuals and instructions provided with the Owner-Supplied Items. Contractor shall evaluate, test, and as
necessary, repair and modify the Existing Plant Equipment pursuant to Attachment A in accordance with the requirements of Section
3.1.3.

12.4.1. 
Minimum Acceptance Criteria Not Achieved.

12.4.1.1.                   
Subject to the terms of Section 12.4.1.2, in the event that the Project does not achieve all of the Minimum Acceptance
Criteria, as evidenced by the Performance Tests, by the Guaranteed Substantial Completion Date, then (i) Substantial Completion
shall not occur and (ii) the provisions of Section 14.1 shall apply. In addition to the foregoing, Contractor shall attempt
for a period of ninety (90) Days (commencing on the date on which the Work or component thereof was shown, through the Performance
Tests, to have failed to achieve one or more of the Minimum Acceptance Criteria) (“Minimum Acceptance Criteria Correction
Period”) to correct the Work to enable the Work to achieve all of the Minimum Acceptance Criteria and otherwise achieve
Substantial Completion. If the Work has not achieved the Minimum Acceptance Criteria and Substantial Completion upon the termination
of the Minimum Acceptance Criteria Correction Period, then Owner may, in its sole discretion, either (i) grant Contractor an additional
sixty (60) Days to correct the Work to enable the Work to achieve all of the Minimum Acceptance Criteria; or (ii) claim Contractor
Default pursuant to Article 16. In the event that Owner claims such a Default, Owner shall be entitled to any and all damages,
costs, losses and expenses to which Owner is entitled under Section  16.1.2. If, on the other hand, the Work has achieved
all of the Minimum Acceptance Criteria and Substantial Completion during the Minimum Acceptance Criteria Correction Period (or
during the additional sixty (60) Day period, should Owner elect that option), then Contractor shall be liable to Owner for all
other damages, costs, losses and expenses to which Owner is entitled under Section  16.1.2.

12.4.1.2.                   
If the failure of the Project to achieve the Minimum Acceptance Criteria is due to the Process Licensors or due to the failure
of Owner-Supplied Items or Existing Plant Equipment that was not modified or repaired by Contractor, then (i) Contractor shall
be entitled to a Change Order to the extent such failure is not due to the fault of Contractor or any of its Subcontractors or
Sub-subcontractors (including a failure related to Contractor’s installation of the Owner-Supplied Items or Contractor’s
modification or repair of the Existing Plant Equipment), which shall include an extension to the applicable Milestone Dates to
the extent allowed under Section 6.8, and (ii) Contractor and Owner shall agree on

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a work plan with respect to the
number of Contractor personnel that will remain at the Site until the Minimum Acceptance Criteria are achieved.

12.5                     
Punchlist.

12.5.1. 
Punchlist for Mechanical Completion. Prior to Mechanical Completion, Owner and Contractor shall inspect such
Work. Contractor shall prepare a proposed Punchlist of items identified as needing to be completed or corrected as a result of
such inspection. Contractor shall promptly provide the proposed Punchlist to Owner for its review and written approval, together
with an estimate of the time necessary to complete or correct each Punchlist item. Contractor shall add to the proposed Punchlist
any Punchlist items that are identified by Owner during its review, and Contractor shall immediately initiate measures to complete
or correct, as appropriate, any item on Contractor’s proposed Punchlist that Owner in the exercise of its reasonable judgment,
believes must be completed or corrected so that such Work will achieve Mechanical Completion. Upon Contractor’s completion
or correction of any items necessary to achieve Mechanical Completion and Owner’s written approval of Contractor’s
proposed Punchlist, as modified by any Owner additions, such Punchlist shall govern Contractor’s performance of the Punchlist
items for the Work up to Substantial Completion.

12.5.2. 
Punchlist for Substantial Completion. After Mechanical Completion and prior to Substantial Completion, Owner
and Contractor shall inspect the Work, and Contractor shall prepare an updated and revised proposed Punchlist of items identified
as needing to be completed or corrected as a result of such inspection. Contractor shall promptly provide the proposed, updated
and revised Punchlist to Owner for its review and written approval, together with an estimate of the time necessary to complete
or correct each Punchlist item. Contractor shall add to the proposed, updated and revised Punchlist any Punchlist items identified
by Owner during its review, and Contractor shall immediately initiate measures to complete or correct, as appropriate, any item
on Contractor’s proposed, updated and revised Punchlist or otherwise that Owner in the exercise of its reasonable judgment,
believes must be completed or corrected to achieve Substantial Completion. Upon Contractor’s completion or correction of
any items necessary to achieve Substantial Completion and Owner’s written approval of Contractor’s proposed Punchlist,
as modified by any Owner additions, such Punchlist shall govern Contractor’s performance of the Punchlist items; provided,
however, Contractor shall add to the Punchlist any items of a Punchlist nature that are discovered by Owner or Contractor
prior to Final Completion of the Project, and further provided that the failure to include any items on the Punchlist shall
not alter the responsibility of Contractor to complete all Work in accordance with the terms and provisions of this Agreement.
All Work on the Punchlist shall be completed by the Guaranteed Final Completion Date, or Owner may, in addition to any other rights
that it may have under this Agreement, at law or in equity, complete such Punchlist Work, which shall be charged against the GMP
until the GMP is reached, and thereafter such costs shall be at the expense of Contractor. If Owner incurs any costs for the completion
of such Punchlist Work in excess of the GMP, Contractor shall immediately pay Owner (directly, by offset, or by collection on the
Letter of Credit, at Owner’s sole discretion), all reasonable costs and expenses incurred by Owner in excess of the GMP in
performing such Punchlist Work. Upon Contractor’s request, Owner shall

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provide documentation identifying
the costs and expenses to complete such Punchlist Work.

12.6                     
Notice and Requirements for Final Completion.
Final Completion of the Project shall be achieved when all requirements for Final Completion under this Agreement, including those
set forth in the definition of Final Completion under Section 1.1, have been satisfied. Upon Final Completion, Contractor
shall certify to Owner in the form of Attachment N (“Final Completion Certificate”) that all of
the requirements under this Agreement for Final Completion have occurred. Owner shall notify Contractor whether it accepts or rejects
the Final Completion Certificate within fifteen (15) Days following Owner’s receipt thereof. Acceptance of such certificate
shall be evidenced by Owner’s signature on such certificate, which shall be forwarded to Contractor with such notice and
the date of acceptance of Final Completion shall be the date the Final Completion certificate was submitted to Owner (provided
that Owner accepted the certificate). If Owner does not agree that Final Completion has occurred, then Owner shall state the basis
for its rejection in reasonable detail in a written notice provided to Contractor. The Parties shall thereupon promptly and in
good faith confer and make all reasonable efforts to resolve such issue. In the event such issue is not resolved within ten (10)
Business Days of the delivery by Owner of its notice, Owner and Contractor shall resolve the dispute in accordance with the dispute
resolution procedures provided for under Article 18; provided, however, if such deficiencies relate to the failure
to complete Punchlist items, Owner may, in addition to any other rights that it may have under this Agreement, at law or in equity,
complete such Punchlist Work in accordance with Section 12.5.

12.7                     
Partial Occupancy and Use. Prior to
Contractor achieving Substantial Completion, Owner may occupy or use all or any portion of the Work then capable of functioning
safely, provided that such occupancy or use is authorized by the applicable Governmental Instrumentalities. Immediately
prior to such partial occupancy or use, Owner and Contractor shall jointly inspect the area to be occupied or portion of the Work
to be used in order to determine and record the condition of the Work and all personnel and environmental safety aspects of the
Work. Such occupancy or use shall not in any way release Contractor or any surety of Contractor from any obligations or liabilities
pursuant to this Agreement, including the obligation to engineer, procure and construct a fully operational Project within the
required times set forth in the Milestone Dates and otherwise in accordance with all requirements of this Agreement, nor shall
such occupancy or use be deemed to be an acceptance by Owner of such portion of the Work. However, to the extent such occupancy
or use causes delays to the Work of the Contractor, Contractor shall be entitled to an extension of time and an increase in the
Compensation due to such delay to the extent permitted in Section 6.8. Without limitation of the foregoing, but subject
to Contractor’s right to seek an extension of time as described in this Section 12.7, Contractor shall be liable for
any and all Delay Liquidated Damages for failing to achieve Substantial Completion as set forth in this Agreement, regardless of
whether Owner is using or occupying a portion of the Work.

12.8                     
Long-Term Obligations. No acceptance
by Owner of any or all of the Work or any other obligations of Contractor under this Agreement, including acceptance of Mechanical
Completion, Substantial Completion or Final Completion of the Project, nor any payment made hereunder, whether an interim or final
payment, shall in any way release Contractor or any surety of Contractor from any obligations or liability pursuant to this

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Agreement. Nothing in this Article
12 shall in any way modify or alter Contractor’s obligations under Article 13 and Article 14.

Article
13

WARRANTY AND CORRECTION OF WORK

13.1                     
Warranty.

13.1.1. 
General. The warranties set forth in this Article 13 (referred to individually as “Warranty”
or collectively as “Warranties”) are in addition to any of the Minimum Acceptance Criteria set forth
in this Agreement. Any Work, or component thereof, that is not in conformity with any Warranty is defective (“Defective”)
and contains a defect (“Defect”).

13.1.2. 
Contractor’s Warranty. Contractor hereby warrants that the Work, including Contractor-Supplied Equipment,
and each component thereof shall be: (i) new or rebuilt, as applicable (and for all rebuilt Work, such Work is approved by Owner
in advance); (ii) free from encumbrances to title, as set forth in greater detail in Section 9.1; (iii) free from defects
in design, material and workmanship; (iv) in accordance with all requirements of this Agreement (including GECP, Applicable Law
and Applicable Codes and Standards); and (v) composed and made of proven technology; provided however, Contractor does not
warrant the Existing Plant Equipment (except for the improvements, alterations, or modifications made by Contractor to such Equipment)
or Owner-Supplied Items (except that Contractor warrants its Work related to such Equipment such as unloading, storage, assembly,
erection, and installation of the Owner-Supplied Items), provided further, however, this shall not be interpreted to relieve
Contractor of its obligations to achieve the MAC.

13.1.3. 
Assignment and Enforcement of Subcontractor Warranties. Contractor shall, without additional cost to Owner,
obtain warranties from Subcontractors and Sub-subcontractors that meet or exceed the requirements of this Agreement; provided,
however, Contractor shall not in any way be relieved of its responsibilities and liability to Owner under this Agreement,
regardless of whether such Subcontractor or Sub-subcontractor warranties meet the requirements of this Agreement, as Contractor
shall be fully responsible and liable to Owner for its Warranty pursuant to Section 13.1.2 and Corrective Work obligations,
provided however, Corrective Work is included in the GMP (and paid as a Direct Costs of the Work) to the extent specified
in this Agreement. All such warranties shall be deemed to run to the benefit of Owner and Contractor. On or prior to the expiration
of the Defect Correction Period, Contractor shall assign to Owner any Subcontractor warranties that have warranty durations exceeding
such Defect Correction Period. Such warranties, with duly executed instruments assigning the warranties to Owner, shall be enforceable
by Owner upon the expiration of the Defect Correction Period. All warranties provided by any Subcontractor or Sub-subcontractor
shall be in such form as to permit direct enforcement by Contractor or Owner against any Subcontractor or Sub-subcontractor whose
warranty is called for, and Contractor agrees that: (i) Contractor’s Warranty, as provided under this Article 13 shall
apply to all Work regardless of the provisions of any Subcontractor or Sub-subcontractor warranty, and such Subcontractor or

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Sub-subcontractor warranties shall
be in addition to, and not a limitation of, such Contractor Warranty; (ii) Contractor is jointly and severally liable with such
Subcontractor or Sub-subcontractor with respect to such Subcontractor or Sub-subcontractor warranty; and (iii) service of
notice on Contractor that there has been a breach of a Subcontractor or Sub-subcontractor warranty shall be sufficient to invoke
the terms of the instrument. This Section 13.1.3 shall not in any way be construed to limit Contractor’s liability
under this Agreement for the entire Work or its obligation to enforce Subcontractor or Sub-subcontractor warranties.

13.1.4. 
Exceptions to Warranty. The Warranty excludes remedy, and Contractor shall have no liability to Owner, for
damage or defect occurring after Substantial Completion to the extent caused by: (i) normal wear and tear of the Work, (ii) Owner’s
failure to maintain the Work in accordance with the written preventative maintenance procedures delivered by Contractor or Subcontractors
to Owner; or (iii) Owner’s misuse of the Work.

13.2                     
Correction of Work Prior to Substantial Completion.

13.2.1. 
General Rights. In addition to other obligations under this Agreement, if, prior to Substantial Completion,
any Work is found to be Defective, Contractor shall promptly correct such Defective Work and any other portions of the Project
damaged or affected by such Defective Work, whether by repair, replacement or otherwise as determined by Contractor after consultation
with Owner. All Work shall be subject to inspection by Owner, Lender and either of their representatives at all times to determine
whether the Work conforms to the requirements of this Agreement. Contractor shall furnish Owner, Lender and either of their representatives
with access to all locations where Work is in progress, including locations not on the Site. If, in the judgment of Owner, any
Work is Defective, Owner shall provide written notice to Contractor identifying and describing with reasonable specificity that
portion of Work that Owner believes is Defective. Upon receipt of such written notice, Contractor shall promptly correct such Defective
Work, whether by repair, replacement or otherwise as determined by Contractor after consultation with Owner. Subject to Contractor’s
right to pursue a Dispute under Article 18, the decision of Owner shall be conclusive as to whether the Work is conforming
or Defective, and Contractor shall comply with the instructions of Owner in all such matters while pursuing any such Dispute. If
it is later determined that the Work was not Defective, then a Change Order shall be issued for Direct Costs of the Work and shall
address any impact the repair or replacement may have had on the GMP and Milestone Dates. If Contractor fails, after a reasonable
period of time not to exceed seven (7) Days, to repair or replace any Defective Work, or to commence to repair or replace any Defective
Work and thereafter continue to proceed diligently to complete the same, then Owner, after providing three (3) Days’ notice
to Contractor, may repair or replace such Defective Work; provided, however, if the Defective Work materially affects the
operation or use of the Project, or presents an imminent threat to the safety or health of any Person, then Contractor shall commence
to repair or replace the Defective Work within twenty four (24) hours after receipt of a written notice of such Defective Work,
and thereafter continue to proceed diligently to complete the same.

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13.2.2. 
 Hold Points and Witness Points.

13.2.2.1.                   
Within one hundred twenty (120) Days after the NTP, Contractor shall submit to Owner for approval a list of hold points
for each item of Contractor-Supplied Equipment and Contractor shall provide Owner with at least ten (10) Days’ prior written
notice of the scheduled date of each of the tests for each such item of Contractor-Supplied Equipment listed therein. Contractor
may not proceed with any such test without Owner either witnessing such test or notifying Contractor in writing that Contractor
may proceed with such test without any Owner personnel present for such test.

13.2.2.2.                   
With respect to shop testing of Contractor-Supplied Equipment by Subcontractors or Sub-subcontractors, Contractor shall
provide Owner a proposed list of witness points for each such item of Contractor-Supplied Equipment for Owner’s review and
prior written approval no later than fifteen (15) Days after placement of the applicable Subcontract or Sub-subcontract for such
item of Contractor-Supplied Equipment, and Owner shall notify Contractor which of the witness points it wishes its personnel to
witness. Contractor shall provide Owner with at least ten (10) Days’ prior written notice of the actual scheduled date of
each of the tests Owner has indicated it wishes to witness. Contractor shall cooperate with Owner if Owner elects to witness any
additional tests, and Contractor acknowledges that Owner shall have the right to witness all tests being performed in connection
with the Work. Notwithstanding the foregoing, if Owner fails to witness any tests for which Contractor has provided the required
notice under this Section 13.2.2.2, Contractor may proceed with conducting such tests.

13.2.2.3.                   
Owner’s right of inspection set forth in this Section 13.2.2 applies only to witnessing of hold points and
witness points for Work and shall not be construed to imply a limitation on Owner’s right to inspect any portion of the Work
(including Contractor-Supplied Equipment) at any time in its sole discretion and in accordance with this Agreement.

13.2.3. 
No Obligation to Inspect. Owner’s or Lender’s right to conduct inspections under Sections 13.2.1
and 13.2.2 shall not obligate Owner or Lender to do so. Neither the exercise of Owner or Lender of any such right, nor any
failure on the part of Owner or Lender to discover or reject Defective Work shall be construed to imply an acceptance of such Defective
Work or a waiver of such Defect.

13.2.4. 
Cost of Disassembling. Subject to Section 13.2.1, the cost of disassembling, dismantling or making
safe finished Work for the purpose of inspection, and reassembling such portions (and any delay associated therewith) shall be
a Direct Cost of the Work.

13.3                     
Correction of Work After Substantial Completion.
In addition to other obligations under this Agreement, if, during the Defect Correction Period, any Work performed by Contractor
is found to be Defective, Contractor shall, on a reimbursable basis up to the GMP immediately and on an expedited basis (i) correct
such Defective Work, whether by

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repair, replacement or otherwise,
including determining the root cause of the Defective Work and undertaking the necessary work to properly remedy and eliminate
such root cause and (ii) repair, clean up and remediate any portions of the Site or the Project damaged or affected by such Defective
Work, whether by repair, remediation, replacement or otherwise (the “Corrective Work”). Corrective Work
shall include “in and out” corrective work, which includes gaining access for correction, repair or replacement of
any Work that has already been installed and requires the removal, disassembly, disconnection, installation, reassembly, reconnection
or other physical handling of facilities, equipment, structures or other improvements owned, furnished or installed by Persons
or entities other than Contractor; provided, however, Contractor shall not be liable for any increased costs to access the Defect
to perform such Corrective Work to the extent such increased costs are due to Owner’s modification of the Project after Substantial
Completion that obstructs Contractor’s access to the Defective Work. If Owner reasonably believes that any Work is Defective
during the Defect Correction Period, Owner shall provide written notice within a reasonable period of time after Owner’s
determination to Contractor of such Defect, stating the general nature of such Defect or the issue giving rise to Owner’s
belief; provided that, such notice shall not be construed as a condition precedent to Contractor’s obligation to perform
Corrective Work. Owner shall provide Contractor with access to the Project sufficient for Contractor to perform its Corrective
Work, so long as such activities do not unreasonably interfere with the operation of the Project and subject to any reasonable
security or safety requirements of Owner.

13.3.1. 
Owner Right to Correct or Complete Defective Work. If Contractor fails to commence the Corrective Work (which
commencement may include the detailed planning associated with the on-Site implementation of the Corrective Work) within a reasonable
period of time not to exceed five (5) Days, or does not complete such Corrective Work on an expedited basis, then Owner, by written
notice to Contractor, may (in addition to any other remedies that it has under this Agreement) perform the Corrective Work, and
Contractor shall be liable to Owner for all reasonable costs and expenses in excess of the GMP incurred by Owner in connection
with such Corrective Work and arising out of or relating to such Defective Work and, if such costs exceed the GMP shall pay Owner
(directly, by offset, or by collection on the Letter of Credit, at Owner’s sole discretion), an amount equal to such costs
and expenses; provided, however, if such Defective Work materially affects the operation or use of any of the Project or
presents an imminent threat to the safety or health of any Person and Owner knows of such Defective Work, Owner may (in addition
to any other remedies that it has under this Agreement) perform such Corrective Work without giving prior written notice to Contractor
(provided that Owner shall advise Contractor of such action as soon as reasonably possible), and, in that event, such work shall
be charged against the GMP until the GMP is reached, and thereafter such costs shall be at the expense of Contractor. If Owner
incurs any costs for such work in excess of the GMP, Contractor shall immediately pay Owner (directly, by offset, or by collection
on the Letter of Credit, at Owner’s sole discretion), all reasonable costs and expenses incurred by Owner in excess of the
GMP in performing such Work. Upon Contractor’s request, Owner shall provide documentation identifying the costs and expenses
to complete such Work.

13.3.2. 
Extended Defect Correction Period for Corrective Work. With respect to any Corrective Work performed, the
Defect Correction Period for such Corrective Work

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shall be extended for an additional
one (1) year from the date of the completion of such Corrective Work; provided, however, in no event shall the Defect
Correction Period for such Corrective Work be less than the original Defect Correction Period; and provided further, that
the Defect Correction Period shall not extend more than six (6) months beyond the expiration of the original Defect Correction
Period.

13.4                     
Owner-Supplied Items and Existing Plant Equipment.
The foregoing notwithstanding, Contractor is not responsible to correct any Defect in the Owner-Supplied Items or in Existing Plant
Equipment that does not arise out of or result from any act or omission of Contractor or any of its Subcontractors or Sub-subcontractors
or relate to the Work performed by Contractor, except (i) as set forth in Section 3.24 or (ii) if such Defect
relates to improvements, alterations, or modifications of the Existing Plant Equipment by Contractor.

13.5                     
Waiver of Implied Warranties. Except for any
express warranties under this Agreement, the Parties hereby disclaim any and all other warranties, including the implied warranty
of merchantability and implied warranty of fitness for a particular purpose.

13.6                     
Assignability of Warranties. The Warranties
made in this Agreement shall be for the benefit of Owner and its successors and assigns and the respective successors and assigns
of any of them and are fully transferable and assignable. 

Article
14

GUARANTEE OF TIMELY COMPLETION AND DELAY LIQUIDATED DAMAGES

 

14.1                     
Delay Liquidated Damages. If Substantial
Completion occurs after the Guaranteed Substantial Completion Date (as may be adjusted by Change Order pursuant to the terms of
this Agreement), Contractor shall pay to Owner the amounts listed in Attachment U per Day for each Day, or portion
thereof, of delay until Substantial Completion occurs (the “Delay Liquidated Damages”).

14.2                     
Early Completion Bonus. 

14.2.1. 
The “Schedule Bonus Date” is thirty (30) Days prior to the Guaranteed Substantial Completion Date
(as may be adjusted under this Agreement).

14.2.2. 
If Substantial Completion occurs on or before the Schedule Bonus Date, Owner shall pay Contractor a flat bonus equal to
[...***...] U.S. Dollars (U.S. $[...***...]).

14.2.3. 
In addition to the bonus set out in Section 14.2.2, if Substantial Completion occurs before the Schedule Bonus Date,
Owner shall pay Contractor a bonus equal to [...***...] U.S. Dollars (U.S. $[...***...]) per Day for each Day that
Substantial Completion occurs before the Schedule Bonus Date.

14.2.4. 
Subject to the terms of the Agreement (including Owner’s right to setoff and withholding), any early completion bonuses
accrued shall be paid by Owner within

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thirty (30) Days after (i) Contractor’s
achievement of Substantial Completion and (ii) Owner’s receipt of an invoice for such early completion bonus.

Article
15

REPRESENTATIONS

15.1                     
Contractor Representations. Contractor represents
and warrants that:

15.1.1. 
Corporate Standing. It is a corporation duly organized, validly existing and in good standing under the laws of Texas,
is authorized and qualified to do business in all jurisdictions in which the nature of the business conducted by it makes such
qualification necessary and where failure to so qualify would have a material adverse effect on its financial condition, operations,
prospects, taxes or business.

15.1.2. 
No Violation of Law. It is not in violation of any Applicable Law or judgment entered by any Governmental Instrumentality,
which violations, individually or in the aggregate, would affect its performance of any obligations under this Agreement. There
are no legal or arbitration proceedings or any proceeding by or before any Governmental Instrumentality, now pending or (to the
best knowledge of Contractor) threatened against Contractor that, if adversely determined, could reasonably be expected to have
a material adverse effect on the financial condition, operations, prospects or business, as a whole, of Contractor, or its ability
to perform under this Agreement.

15.1.3. 
Licenses. It is the holder of all Permits required to permit it to operate or conduct its business now and as contemplated
by this Agreement.

15.1.4. 
No Breach. Neither the execution and delivery of this Agreement, nor the consummation of the transactions herein
contemplated or compliance with the terms and provisions hereof will conflict with or result in a breach of, or require any consent
under, the organizational documents of Contractor, or any Applicable Law or regulation, or any order, writ, injunction or decree
of any court, or any agreement or instrument to which Contractor is a party or by which it is bound or to which it or any of its
property or assets is subject, or constitute a default under any such agreement or instrument.

15.1.5. 
Corporate Action. It has all necessary power and authority to execute, deliver and perform its obligations under
this Agreement; the execution, delivery and performance by Contractor of this Agreement has been duly authorized by all necessary
action on its part; and this Agreement has been duly and validly executed and delivered by Contractor and constitutes a legal,
valid and binding obligation of Contractor enforceable in accordance with its terms, except as the enforceability thereof may be
limited by bankruptcy, insolvency, reorganization or moratorium or other similar laws relating to the enforcement of creditors’
rights generally.

15.1.6. 
Financial Solvency. It is financially solvent, able to pay all debts as they mature and possesses sufficient working
capital to complete the Work and perform its obligations hereunder. Guarantor, guaranteeing the obligations of Contractor pursuant
to Section 21.13 of this Agreement, is financially solvent, able to pay all debts as they mature,

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and possesses sufficient working
capital to perform the guarantee required by Section 21.13.

15.2                     
Owner Representations. Owner represents and
warrants that:

15.2.1. 
Corporate Standing. It is a limited liability company duly organized, validly existing and in good standing under
the laws of Delaware, is qualified to do business in all jurisdictions in which the nature of the business conducted by it makes
such qualification necessary and where failure so to qualify would have a material adverse effect on its financial condition, operations,
prospects or business.

15.2.2. 
No Violation of Law. It is not in violation of any Applicable Law, or judgment entered by any Governmental Instrumentality,
which violations, individually or in the aggregate, would affect its performance of any obligations under this Agreement. There
are no legal or arbitration proceedings or any proceeding by or before any Governmental Instrumentality, now pending or (to the
best knowledge of Owner) threatened against Owner that, if adversely determined, could reasonably be expected to have a material
adverse effect on the financial condition, operations, prospects or business, as a whole, of Owner, or its ability to perform under
this Agreement.

15.2.3. 
No Breach. Neither the execution and delivery of this Agreement, nor the consummation of the transactions herein
contemplated or compliance with the terms and provisions hereof and thereof will conflict with or result in a breach of, or require
any consent under, the organizational documents of Owner, any Applicable Law, any order, writ, injunction or decree of any court,
or any agreement or instrument to which Owner is a party or by which it is bound or to which it or any of its property or assets
is subject, or constitute a default under any such agreement or instrument.

15.2.4. 
Corporate Action. It has all necessary power and authority to execute, deliver and perform its obligations under
this Agreement; the execution, delivery and performance by Owner of this Agreement has been duly authorized by all necessary action
on its part; and this Agreement has been duly and validly executed and delivered by Owner and constitutes a legal, valid and binding
obligation of Owner enforceable in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy,
insolvency, reorganization or moratorium or other similar laws relating to the enforcement of creditors’ rights generally.

Article
16

DEFAULT, TERMINATION AND SUSPENSION

16.1                     
Default by Contractor.

16.1.1. 
Owner Rights Upon Contractor Default. If Contractor shall at any time (i) fail to prosecute the Work in a
diligent or safe manner; (ii) fail to commence the Work in accordance with the provisions of this Agreement; (iii) abandon the
Project (provided that Contractor’s suspension of the Work in accordance with Section 16.4 shall not be deemed an
abandonment of the Work); (iv) expressly repudiate any of its obligations under this Agreement; (v) fail to use an adequate amount
or quality of personnel or Construction

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Equipment to perform and complete
the Project without delay; (vi) be in Default pursuant to Sections 5.3.5, 6.1.4 or 21.6; (vii) fail to maintain
insurance required under this Agreement; (viii) fail to provide or maintain the Parent Guarantee in accordance with this Agreement;
(ix) make changes to Key Personnel in violation of the provisions in Section 2.2; (x) fail to discharge liens filed
by any Subcontractor or Sub-subcontractor as required under this Agreement (provided Owner is not in breach of its payment obligations
under this Agreement as it relates to the subject lien); (xi) cause, by any action or omission, any material stoppage or delay
of or interference with the work or operations of Owner or its other contractors or subcontractors; (xii) commit gross negligence
or willful misconduct; (xiii) fail to make payment to Subcontractors in accordance with the respective Subcontracts; (xiv) disregard
Applicable Law or Applicable Codes and Standards; (xv) materially fail to comply with any provision of this Agreement; (xvi) be
in violation of Section 21.10; (xvii) fail to provide satisfactory security in the event of a Material Adverse Change in
Contractor’s or Guarantor’s creditworthiness; (xviii) fail to achieve the Minimum Acceptance Criteria pursuant to this
Agreement; (xix) have paid the maximum amount of Delay Liquidated Damages payable under Section 20.2.1; (xx) itself or Guarantor
becomes insolvent, has a receiver appointed, makes a general assignment or filing for the benefit of its creditors or files for
bankruptcy protection; or (xxi) as otherwise specified in this Agreement (each of the foregoing being a “Default”),
then following Owner’s written notice to Contractor specifying the general nature of the Default (unless in the event of
any of the items (i) through (xvii) or (xxi) above, Contractor cures such condition within seven (7) Days, or if the Default cannot
be cured with the exercise of reasonable diligence within such seven (7) Days but Contractor has commenced corrective action and
cures such condition within an additional fourteen (14) Days), Owner, at its sole option and, without prejudice to any other rights
that it has under this Agreement and, without further notice to Contractor, may (a) take such steps as are necessary to overcome
the Default condition, in which case Contractor shall be liable to Owner for any and all costs, damages, losses and expenses (including
all reasonable attorneys’ fees, consultant fees and litigation or arbitration expenses) incurred by Owner in connection therewith,
(b) terminate for Default Contractor’s performance of all or any part of the Work, or (c) seek specific performance or interlocutory
mandatory injunctive relief requiring performance of Contractor’s obligations, it being agreed by Contractor that such relief
may be necessary to avoid irreparable harm to Owner. Guarantor’s failure to materially comply with any provisions of the
Parent Guarantee shall be a Default under this Agreement.

16.1.2. 
Additional Rights of Owner Upon Default Termination. In the event that Owner terminates this Agreement for
Default in accordance with Section 16.1.1, then Owner may, at its sole option, (i) enter onto the Site and any other locations
where the Work is being performed and, for the purpose of completing the Work, take possession of all Equipment and Work Product
intended to be made a permanent part of the Work, documents, information, Books and Records and other items thereon, (ii) take
assignment of any or all of the Subcontracts or Sub-subcontracts, or (iii) either itself or through others complete the Work. In
addition, if any Equipment which is intended to be made part of the permanent Work is located off the Site, Contractor shall deliver
such Equipment to Owner or, at Owner’s option, make arrangements for Owner to take possession of such Equipment at its present
off-Site location. Contractor’s liability under this Section 16.1.2 is in addition to any other liability provided
for under this Agreement and Owner shall have

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the right and authority to set
off against and deduct from any such excess due Contractor by Owner any other liability of Contractor to Owner under this Agreement.
Owner agrees to act reasonably to mitigate any costs it might incur in connection with any termination for Default. In the event
of a termination for Default, the Parties agree that Owner shall be entitled to any and all damages, losses, costs and expenses
incurred by Owner arising out of or resulting from such Default, including any and all Delay Liquidated Damages. If Contractor
is terminated for Default pursuant to Section 16.1, the Parties agree that, for the purposes of this Section 16.1.2,
if Substantial Completion was not achieved by Contractor prior to such termination, Delay Liquidated Damages owed by Contractor
to Owner shall be based on the date that the substitute contractor achieved Substantial Completion (or using GECP should have achieved
Substantial Completion) subject to Contractor’s aggregate limit of liability for Delay Liquidated Damages in Section 20.2.1.

16.1.3. 
Erroneous Termination for Default. If any termination for Default by Owner is found to be not in accordance
with the provisions of this Agreement or is otherwise deemed to be unenforceable, then such termination for Default shall be deemed
to be a termination for convenience as provided in Section 16.2.

16.1.4. 
Obligations Upon Default Termination. Upon termination for Default, Contractor shall (i) immediately discontinue
Work on the date and to the extent specified in the notice; (ii) place no further orders for Subcontracts, Equipment, or any other
items or services except as may be necessary for completion of such portion of the Work as is not discontinued; (iii) inventory,
maintain and turn over to Owner all Contractor-Supplied Equipment furnished by Contractor or any other equipment or other items
provided by Owner for performance of the terminated Work (including the Owner-Supplied Items); (iv) promptly make every reasonable
effort to procure assignment or cancellation upon terms satisfactory to Owner of all Subcontracts, Sub-subcontracts and rental
agreements to the extent they relate to the performance of the Work that is discontinued; (v) cooperate with Owner in the transfer
of Work Product, including Drawings and Specifications, Permits, licenses and any other items or information and disposition of
Work in progress so as to mitigate damages; (vi) comply with other reasonable requests from Owner regarding the terminated Work;
(vii) thereafter execute only that portion of the Work not terminated (if any) and that portion of the Work as may be necessary
to preserve and protect Work already in progress and to protect Equipment at the Site or in transit thereto, and to comply with
any Applicable Law and any Applicable Codes and Standards; and (viii) perform all other obligations set forth under Section
16.2.1.

16.2                     
Termination for Convenience by Owner.

16.2.1. 
Owner Rights to Terminate for Convenience. Owner shall have the right to terminate for convenience Contractor’s
performance of all or any part of the Work by providing Contractor with a written notice of termination, to be effective upon receipt
by Contractor. Upon termination for convenience, Contractor shall (i) immediately discontinue the Work on the date and to the extent
specified in such notice, (ii) place no further orders for Subcontracts, Equipment, or any other items or services except as may
be necessary for completion of such portion of the Work as is not discontinued, (iii) promptly make every reasonable effort to
procure cancellation upon terms satisfactory to

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Owner of all Subcontracts, Sub-subcontracts
and rental agreements to the extent they relate to the performance of the Work that is discontinued unless Owner elects to take
assignment of any such Subcontracts or Sub-subcontracts, (iv) assist Owner in the maintenance, protection, and disposition of Work
in progress, including turning over to Owner all Contractor-Supplied Equipment and Owner-Supplied Items relating to the terminated
Work, (v) cooperate with Owner for the efficient transition of the Work, (vi) cooperate with Owner in the transfer of Work Product,
including Drawings and Specifications, Permits, licenses and any other items or information and disposition of Work in progress,
and (vii) thereafter execute only that portion of the Work not terminated (if any) and that portion of the Work as may be necessary
to preserve and protect Work already in progress and to protect Equipment at the Site or in transit thereto, and to comply with
any Applicable Law and Applicable Codes and Standards. Owner may, at its sole option, take assignment of any or all of the Subcontracts
or Sub-subcontracts.

16.2.2. 
Obligations of Owner upon Convenience Termination. Upon a convenience termination by Owner in accordance with
Section 16.2.1, Contractor shall be paid (i) the reasonable value of the Work performed (the basis of payment being based
on the terms of this Agreement, less any down payments, if any, made under this Agreement) prior to termination, less that portion
of the Compensation previously paid to Contractor, plus (ii) reasonable direct close-out costs incurred directly associated with
the termination (including Contractor’s markup for overhead and profit consistent with the Overhead Fee and the Contractor’s
Fee), and submitted in accordance with this Section, but in no event shall Contractor be entitled to receive any amount for unabsorbed
overhead, contingency, risk or anticipatory profit. Contractor shall submit all reasonable direct close-out costs to Owner for
verification and audit within sixty (60) Days following the effective date of termination. If no Work has been performed by Contractor
at the time of termination, Contractor shall be paid the sum of one hundred U.S. Dollars (U.S.$100) for its undertaking to perform.
If NTP is not issued, Owner shall not be liable for any cancellation charges. With respect to the Deposit Payment, the Parties
recognize and agree that the amount and timing of such payment has been determined in part to provide a mutually agreeable cash
flow to Contractor and does not necessarily represent the value of the Work performed under this Agreement. As such, in the event
of a termination for convenience, Contractor shall not be entitled to the full compensation for the Deposit Payment but instead
shall be entitled to the value of the Work actually performed.

16.3                     
Suspension of Work. Owner may, for any reason,
at any time and from time to time, by written unilateral or mutual Change Order, suspend the carrying out the Work or any part
thereof, whereupon Contractor shall suspend the carrying out of such suspended Work for such time or times and in such manner as
Owner may require and shall take reasonable steps to minimize any costs associated with such suspension. During any such suspension,
Contractor shall properly protect and secure such suspended Work in such manner as Owner may reasonably require. Unless otherwise
instructed by Owner, Contractor shall during any such suspension maintain its staff and labor on or near the Site and otherwise
be ready to proceed expeditiously with the Work upon receipt of Owner’s further instructions. Except where such suspension
ordered by Owner is the result of or due to the fault or negligence of Contractor or any Subcontractor or Sub-subcontractor, Contractor
shall be entitled to the reasonable costs (including actual, but not unabsorbed, overhead, contingency,

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risk and reasonable profit consistent
with the Overhead Fee and Contractor’s Fee) of such suspension, including demobilization and remobilization costs, if necessary,
along with appropriate supporting documentation to evidence such costs, and a time extension to the Guaranteed Substantial Completion
Date if and to the extent permitted under Section 6.8. Upon receipt of notice to resume suspended Work, Contractor shall
immediately resume performance of the Work to the extent required in the notice. In no event shall Contractor be entitled to any
additional profits or damages due to such suspension.

16.4                     
Suspension by Contractor. Notwithstanding
anything to the contrary in this Agreement, Contractor shall have the responsibility at all times to prosecute the Work diligently
and shall not suspend, stop or cease performance hereunder or permit the prosecution of the Work to be delayed; provided,
however, subject to Owner’s right to withhold or offset payment to Contractor under this Agreement, if Owner fails
to pay undisputed amounts due and owing to Contractor and Owner has failed to cure such failure within seven (7) Days following
Contractor’s written notice to Owner to cure such failure, Contractor may suspend performance of the Work until Contractor
receives such undisputed amounts.

16.5                     
Termination by Contractor. Contractor
may only terminate this Agreement if, continuing at the time of such termination, Contractor has stopped the performance of all
Work under this Agreement pursuant to Section 16.4 for fifteen (15) Days, and after the expiration of such fifteen (15)
Day period, Contractor gives Owner written notice specifying the nature of the default and its intent to terminate the Agreement,
and Owner fails to cure such default within fifteen (15) Days after receipt of Contractor’s notice. In the event of any such
termination under this Section 16.5, Contractor shall have the rights (and Owner shall make the payments) provided
for in Section 16.2 in the event of an Owner termination for convenience. Contractor’s sole right to terminate this
Agreement is set forth in this Section 16.5.

Article
17

INDEMNITIES

17.1                     
General Indemnification. In addition
to its indemnification, defense and hold harmless obligations contained elsewhere in this Agreement, Contractor shall fully indemnify,
hold harmless and defend Owner Indemnified Parties from any and all Claims arising out of the following:

17.1.1. 
failure of Contractor or its Subcontractors or Sub-subcontractors to comply with Applicable Law, Applicable Codes and Standards,
GECP, or safety requirements under this Agreement;

17.1.2. 
actual or alleged violation or infringement of any domestic or foreign patents, copyrights or trademarks or other intellectual
property, or any misappropriation or improper use of confidential information or other proprietary rights that may be attributable
to Contractor or any Subcontractor or Sub-subcontractor in connection with the Work;

17.1.3. 
actual or alleged contamination, spill, release, discharge, pollution or otherwise of the air, land or water as a result
of Hazardous Materials that are brought onto

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the Site by Contractor or its
Subcontractors or Sub-subcontractors arising out of acts or omissions of Contractor’s or any Subcontractor’s or Sub-subcontractor’s
use, handling or disposal of such Hazardous Materials during the performance of the Work, and any environmental damage of any other
nature to the extent resulting from failure by Contractor or any of its Subcontractors or Sub-subcontractors to stop Work after
encountering Pre-Existing Hazardous Materials at the Site as required under Section 3.17 or the acts or omissions of Contractor
or its Subcontractors or Sub-subcontractors during the performance of the Work subject to the terms of Section 3.18;

17.1.4. 
claims by any Governmental Instrumentality as a result of a failure by Contractor or any Subcontractor or Sub-subcontractor
to pay Taxes, and claims by a Governmental Instrumentality for California state or local sales and use tax on Equipment for which
Owner provided Contractor with a valid applicable California state and local sales and use tax exemption certificate or direct
pay exemption certificate;

17.1.5. 
failure of Contractor to make payments to any Subcontractor in accordance with the respective Subcontract (provided Owner
is not in breach of its payment obligations under this Agreement as it relates to the subject lien);

17.1.6. 
injury to, illness or death of any Person, or loss of or damage to any property of any Person, only to the extent resulting
from the fault, negligence, gross negligence or willful misconduct of any Contractor Indemnified Party, any Subcontractor or Sub-subcontractor
or any employee, officer, director or agent of any Subcontractor or Sub-subcontractor;

17.1.7. 
any failure of Contractor to maintain insurance coverages in accordance with this Agreement; or

17.1.8. 
any breach by Contractor of its confidentiality obligations under Article 19.

17.2                     
Owner’s Indemnity for Personal Injury and Property Damage.
Subject to Section 3.17, Owner shall fully indemnify, hold harmless and defend Contractor Indemnified Parties
from and against any and all Claims arising out of personal injury or death of any Person or damage to or destruction of property
of any Person (excluding the Work, and the Project, which is addressed in Section 9.2 and the Construction Equipment) only to the
extent resulting from the fault, negligence, gross negligence or willful misconduct of any Owner Indemnified Party.

17.3                     
Patent and Copyright Indemnification.
In the event that any suit, claim, temporary restraining
order or preliminary injunction is granted in connection with Section 17.1.2, Contractor shall, in addition
to its obligation under Section 17.1.2, make every reasonable effort, by giving a satisfactory bond or otherwise, to
secure the suspension of the injunction or restraining order. If, in any such suit or claim, the Work, the Project, or any part,
combination or process thereof, is held to constitute an infringement and its use is preliminarily or permanently enjoined, Contractor
shall promptly make every reasonable effort to secure for Owner a license, at no cost to Owner, authorizing continued use of the
infringing Work on the same terms and conditions as the license granted to Owner under Section 11.2. If Contractor

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is unable to secure such a license
within a reasonable time, Contractor shall, at its own expense and without impairing performance requirements, either replace the
affected Work, in whole or part, with non-infringing components or parts or modify the same so that they become non-infringing.
The foregoing notwithstanding, Contractor or its Subcontractors shall not be responsible to indemnify Owner to the extent an infringement
claim is caused: (i) by Work, materials, goods or services for which Owner provided and controlled the detailed design and wherein
compliance therewith has caused Contractor to deviate from its normal course or performance; or (ii) from Owner’s use of
the Work in combination with equipment which is not part of the Work where such infringement would not have occurred from the use
of the Work not in combination with such equipment, and, in each case, Contractor is not a contributory infringer.

17.4                     
Excluded Claims. Contractor shall have no
obligation to defend or indemnify Owner for Excluded Claims. “Excluded Claims” are Section 17.1.2
claims resulting from: (i) Owner’s or Owner’s Affiliates’ designs or specifications that were not performed
by Contractor as part of the Work, such as the design and procurement of Owner-Supplied Items and Existing Plant Equipment (except
to the extent set forth in Section 3.1.3); (ii) Owner’s alteration or modification of the Work Product without Contractor’s
approval or involvement, and the alleged infringement would not have occurred but for such alteration or modification; (iii) Owner’s
combination of the Work Product with another product(s) not furnished by Contractor, except to the extent Contractor is a contributory
infringer; or (iv) Owner or any Owner Affiliate settles an Intellectual Property Claim in violation of Section 17.6. Owner
shall indemnify, defend and hold Contractor harmless from and against any damages, costs or expenses incurred in Contractor having
to defend any Excluded Claim (other than one arising under clause (iv) hereof) to the same extent and in the same manner as provided
in this section for Intellectual Property Claims for which Contractor is obligated to indemnify Owner. Contractor’s obligation
to indemnify Owner under this Article 17 shall be effective only if Owner gives Contractor prompt written notice in accordance
with Section 17.6 after Owner knew of such Intellectual Property Claim or liability and provides information and assistance
for the defense of any Intellectual Property Claim or liabilities for which Owner seeks indemnification hereunder in accordance
with Section 17.6.

17.5                     
Lien Indemnification. Should any Subcontractor
or Sub-subcontractor or any other Person acting through or under Contractor or any Subcontractor or Sub-subcontractor file a lien
or other encumbrance against all or any portion of the Work, the Site or the Project, excluding liens resulting from Owner’s
failure to make undisputed payments to Contractor that are due and payable and for which Owner does not have a right to withhold
in accordance with Section 7.11, Contractor shall, at its sole cost and expense, remove and discharge, by
payment, bond or otherwise, such lien or encumbrance within ten (10) Days of the filing of such lien or encumbrance. If Contractor
fails to remove and discharge any such lien or encumbrance within such ten (10) Day period, then Owner may, in its sole discretion
and in addition to any other rights that it has under this Agreement, take any one or more of the following actions:

17.5.1. 
Remove and discharge such lien and encumbrance using whatever means that Owner, in its sole discretion, deems appropriate,
including the payment of settlement amounts that it determines in its sole discretion as being necessary to discharge such lien
or encumbrance. In such circumstance, Contractor shall be liable to Owner for all direct

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damages, costs, losses and expenses
(including all attorneys’ fees, consultant fees and litigation or arbitration expenses, and settlement payments) incurred
by Owner arising out of or relating to such removal and discharge. All such direct damages, costs, losses and expenses shall be
paid by Contractor no later than thirty (30) Days after receipt of each invoice from Owner;

17.5.2. 
Seek and obtain an order granting specific performance from a court of competent jurisdiction, requiring that Contractor
immediately discharge and remove, by bond, payment or otherwise, such lien or encumbrance. The Parties expressly agree that Owner
shall be entitled to such specific performance and that Contractor shall be liable to Owner for all damages, costs, losses and
expenses (including all attorneys’ fees, consultant fees and litigation or arbitration expenses) incurred by Owner arising
out of or relating to such specific performance action. Contractor agrees that the failure to discharge and remove any such lien
or encumbrance will give rise to irreparable injury to Owner and Owner’s Affiliates, and further, that Owner and such Owner
Affiliates will not be adequately compensated by damages; or

17.5.3. 
Conduct the defense of any action in respect of (and any counterclaims related to) such liens or encumbrances as set forth
in Section 17.6, without regard to Contractor’s rights under such Section, and all direct damages, costs and
expenses (including all attorneys’ fees, consultant fees and litigation or arbitration expenses, settlement payments and
judgments) so incurred by Owner in that event shall be reimbursed by Contractor, together with interest on same from the date any
such cost and expense was paid by Owner until reimbursed by Contractor at the interest rate set forth in Section 7.12.

17.6                     
Legal Defense. Not later than fifteen (15)
Days after receipt of written notice from the Indemnified Party to the Indemnifying Party of any claims, demands, actions or causes
of action asserted against such Indemnified Party for which the Indemnifying Party has indemnification, defense and hold harmless
obligations under this Agreement, whether such claim, demand, action or cause of action is asserted in a legal, judicial, arbitral
or administrative proceeding or action or by notice without institution of such legal, judicial, arbitral or administrative proceeding
or action, the Indemnifying Party shall affirm in writing by notice to such Indemnified Party that the Indemnifying Party will
indemnify, defend and hold harmless such Indemnified Party and shall, at the Indemnifying Party’s own cost and expense, assume
on behalf of the Indemnified Party and conduct with due diligence and in good faith the defense thereof with counsel selected by
the Indemnifying Party and reasonably satisfactory to such Indemnified Party; provided, however, that such Indemnified Party
shall have the right to be represented therein by advisory counsel of its own selection, and at its own expense; and provided
further that if the defendants in any such action or proceeding include the Indemnifying Party and an Indemnified Party and
the Indemnified Party shall have reasonably concluded that there may be legal defenses available to it which are different from
or additional to, or inconsistent with, those available to the Indemnifying Party, such Indemnified Party shall have the right
to select up to one separate counsel to participate in the defense of such action or proceeding on its own behalf at the expense
of the Indemnifying Party. In the event of the failure of the Indemnifying Party to perform fully in accordance with the defense
obligations under this Section 17.6, such Indemnified Party may, at its option, and

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without relieving the Indemnifying
Party of its obligations hereunder, so perform, but all damages, costs and expenses (including all attorneys’ fees, consultant
fees and litigation or arbitration expenses, settlement payments and judgments) so incurred by such Indemnified Party in that event
shall be reimbursed by the Indemnifying Party to such Indemnified Party, together with interest on same from the date any such
cost and expense was paid by such Indemnified Party until reimbursed by the Indemnifying Party at the interest rate set forth in
Section 7.12.

17.7                     
Enforceability. 

17.7.1. 
The indemnity, defense and hold harmless obligations for personal injury, illness or death or property damage under this
Agreement shall apply regardless of whether the Indemnified Party was concurrently negligent (whether actively or passively), it
being agreed by the Parties that in this event, the Parties’ respective liability or responsibility for such damages, losses,
costs and expenses under this Agreement shall be determined in accordance with the principles of comparative negligence.

17.7.2. 
In the event that any indemnity provisions in this Agreement are contrary to the law governing this Agreement, then the
indemnity obligations applicable hereunder shall be applied to the maximum extent allowed by Applicable Law. Each Party acknowledges
specific payment of ten and no/100 U.S. Dollars (U.S.$10.00) as legal consideration for the indemnity obligations as may be provided
in this Agreement.

Article
18

DISPUTE RESOLUTION

18.1                     
Arbitration. If any dispute arises out of,
results from, or relates to this Agreement which the Parties are unable to settle amicably within fifteen (15) Days after the dispute
arises (or such longer period as may be agreed upon by the Parties in writing), then the Parties agree that such dispute shall
be decided by binding arbitration in Los Angeles County, California. Unless otherwise agreed by the Parties, the arbitration shall
be administered in Los Angeles before one (1) arbitrator who shall be a retired judge admitted to practice law in the State of
California. The arbitration shall be administered by Judicial Arbitration & Mediation Services, Inc (“JAMS”),
or any like organization successor thereto, pursuant to its Streamlined Arbitration Rules and Procedures (the “Rules”).
The arbitrator shall determine the rights and obligations of the Parties according to the substantive law of the state of California,
excluding its conflict of law principles, as would a court for the state of California; provided, however, the law applicable to
the validity of the arbitration clause, the conduct of the arbitration, including resort to a court for provisional remedies, the
enforcement of any award and any other question of arbitration law or procedure shall be the Federal Arbitration Act, 9 U.S.C.A.
§ 2. The arbitration award shall be final and binding, in writing, signed by the arbitrator or all of the arbitrators (as
applicable), and shall state the reasons upon which the award thereof is based. The Parties agree that judgment on the arbitration
award may be entered by any court having jurisdiction thereof. The prevailing Party in any action or proceeding shall be entitled
to recover from the other Party all of its reasonable costs and expenses incurred in connection with such action or proceeding
including reasonable legal fees and costs at arbitration.

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18.2                     
 Continuation of Work During Dispute. Notwithstanding
any Dispute, it shall be the responsibility of Contractor to continue to prosecute all of the Work diligently and in a good and
workmanlike manner in conformity with this Agreement. Except to the extent provided in Sections 16.4 and 16.5,
Contractor shall have no right to cease performance hereunder or to permit the prosecution of the Work to be delayed. Owner shall,
subject to its right to withhold or offset amounts pursuant to this Agreement, continue to pay Contractor undisputed amounts in
accordance with this Agreement; provided, however, in no event shall the occurrence of any negotiation, arbitration or litigation
prevent or affect Owner from exercising its rights under this Agreement, including Owner’s right to terminate pursuant to
Article 16.

Article
19

CONFIDENTIALITY

19.1                     
Contractor’s Obligations. Contractor
hereby covenants and warrants that Contractor and its employees, officers, directors and agents shall not (without in each instance
obtaining Owner’s prior written consent) disclose, make commercial or other use of, or give or sell to any Person any of
the following information: (i) any Work Product other than to Subcontractors or Sub-subcontractors as necessary to perform the
Work (including any and all documents, manuals, work product, and information of Owner’s Prior EPC Contractor that was provided
to Contractor) or (ii) any other proprietary, sensitive or non-public information which relates to the technical processes, operating
or maintenance methodologies, business, products, services, research or development, actual or potential clients or customers,
financing of the Project, designs, methods, discoveries, trade secrets, research, development or finances of Owner or any Affiliate
of Owner, or relating to similar information of a third party who has entrusted such information to Owner or any Affiliate of Owner
(hereinafter individually or collectively, “Owner’s Confidential Information”). Prior to disclosing
any information in subpart (i) of this Section 19.1 to any Subcontractor or Sub-subcontractor necessary to perform the Work,
Contractor shall bind such Subcontractor or Sub-subcontractor to the confidentiality obligations contained in this Section 19.1.
Contractor agrees to be responsible for any breach of this Section 19.1 by any Subcontractor or Sub-subcontractor. Nothing
in this Section 19.1 or this Agreement shall in any way prohibit Contractor or any of its Subcontractors or Sub-subcontractors
from making commercial or other use of, selling, or disclosing any of their respective Contractor’s Intellectual Property
or Third Party Intellectual Property. In addition to the foregoing, neither Contractor nor any of its employees, officers, directors
and agents shall disclose the existence or terms of this Agreement in any regulatory filing with the Securities and Exchange Commission
unless required by Applicable Law, and provided that, prior to any such disclosure, Contractor shall give Owner reasonable notice
of the information required to be disclosed and shall provide Owner with an opportunity to take appropriate steps Owner believes
are necessary to protect the confidentiality or proprietary nature of this Agreement, and Contractor agrees to furnish only that
portion of the information regarding this Agreement that Contractor is legally required to furnish.

19.2                     
Owner’s Obligations. Owner hereby
covenants and warrants that Owner and its employees and agents shall not (without in each instance obtaining Contractor’s
prior written consent) disclose, make commercial or other use of, or give or sell to any Person any pricing methodologies or pricing
information relating to the Work, including the Equipment,

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which is conspicuously marked
and identified in writing as confidential by Contractor (hereinafter individually or collectively, “Contractor’s
Confidential Information”). The Parties agree that Owner may disclose Contractor’s Confidential Information
to its other contractors involved in the Project, Affiliates, underwriters, a bona fide prospective purchaser of all or a portion
of Owner’s or any of its Affiliates’ assets or ownership interests, a bona fide prospective assignee of all or a portion
of Owner’s interest in this Agreement, Lender and their representatives or rating agencies, provided that Owner agrees
to be responsible for any breach of this Section 19.2 by any such Persons.

19.3                     
Definitions. The term “Confidential
Information” shall mean one or both of Contractor’s Confidential Information and Owner’s Confidential
Information, as the context requires. The Party having the confidentiality obligations with respect to such Confidential Information
shall be referred to as the “Receiving Party,” and the Party to whom such confidentiality obligations
are owed shall be referred to as the “Disclosing Party.”

19.4                     
Exceptions. Notwithstanding Sections 19.1
and 19.2, Confidential Information shall not include: (i) information which at the time of disclosure or acquisition is
in the public domain, or which after disclosure or acquisition becomes part of the public domain without violation of Article
19; (ii) information which at the time of disclosure or acquisition was already in the possession of the Receiving Party or
its employees or agents and was not previously acquired from the Disclosing Party or any of its employees or agents directly or
indirectly; (iii) information which the Receiving Party can show was acquired by such entity after the time of disclosure or acquisition
hereunder from a third party without any confidentiality commitment if, to the best of Receiving Party’s or its employee’s
or agent’s knowledge, such third party did not acquire it, directly or indirectly, from the Disclosing Party or any of its
employees or agents; (iv) information independently developed by the Receiving Party without benefit of the Confidential Information,
but specifically excluding the Work Product; and (v) information which is required by Applicable Law or other agencies in connection
with the Project, to be disclosed; provided, however, that prior to such disclosure, the Receiving Party gives reasonable
notice to the Disclosing Party of the information required to be disclosed.

19.5                     
Equitable Relief. The Parties acknowledge
that in the event of a breach of any of the terms contained in this Article 19, the Disclosing Party would suffer
irreparable harm for which remedies at law, including damages, would be inadequate, and that the Disclosing Party shall be entitled
to equitable relief therefor by injunction, in addition to any and all rights and remedies available under the Agreement, without
the requirement of posting a bond.

19.6                     
Term. The confidentiality obligations of this
Article 19 shall survive the expiration or termination of this Agreement for a period of five (5) years following
the expiration or earlier termination of this Agreement, except Lenders’ confidentiality obligations pursuant to Section 19.2
will expire after a period of two (2) years following the expiration or earlier termination of this Agreement.

Article
20

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LIMITATION OF LIABILITY

20.1                     
Contractor Aggregate Liability. Notwithstanding
anything to the contrary contained in this Agreement and to the fullest extent permitted by the governing law of this Agreement,
Contractor shall not be liable to Owner for any loss, damage (including damage to Owner’s or others property), injury, claim,
fees, or expense (including legal costs and attorneys’ fees) resulting from Contractor’s Work or Contractor’s
negligence (including active, passive, sole, joint or concurrent negligence) or any other theory or legal liability (including
breach of contract, breach of warranty, tort, strict liability, unseaworthiness of any vessel, or unairworthiest of an aircraft)
arising under this Agreement for cumulative aggregate amounts in excess of [...***...] ([...***...]%) of the Guaranteed
Maximum Price (as may be adjusted by Change Order); provided that, notwithstanding the foregoing, the limitation of liability
set forth in this Section 20.1 shall not (i) apply to Contractor’s personal injury or third party indemnification
obligations under this Agreement; (ii) apply to Contractor’s obligation to deliver to Owner full legal title to and ownership
of all or any portion of the Work and Project as required under this Agreement; or (iii) apply in the event of Contractor’s
fraud, willful misconduct, abandonment of the Work or gross negligence. In no event shall the limitation of liability set forth
in this Section 20.1 be in any way deemed to limit Contractor’s obligation to perform all Work required to achieve
Substantial Completion or Final Completion and the costs incurred by Contractor in performing the Work shall not be counted against
the limitation of liability set forth in this Section 20.1. For avoidance of doubt, amounts paid to Owner by Contractor
for Delay Liquidated Damages shall be counted against the limitation of liability set forth in this Section 20.1. For purposes
of this Section 20.1, “third party” means any Person other than Owner or its Affiliates.

20.2                     
Limitation on Contractor’s Liability for Delay Liquidated Damages.

20.2.1. 
Delay Liquidated Damages. Subject to Section 20.2.1, Contractor’s maximum liability to Owner
for Delay Liquidated Damages for the Project shall not exceed ten percent (10%) of the Guaranteed Maximum Price (as may be adjusted
by Change Order) in the aggregate.

20.2.2. 
Exceptions to Limitations of Liability Under Section 20.2. Section 20.2.1 shall not be construed
to limit Contractor’s other obligations or liabilities under this Agreement (including (i) its obligations to complete the
Work for the compensation provided under this Agreement, (ii) its obligations to achieve the Milestone Dates, Mechanical Completion,
Substantial Completion and Final Completion of the Project subject to Section 20.2.1, which shall remain effective
irrespective of this Section 20.2.1 and (iii) its obligations with respect to Minimum Acceptance Criteria and Warranties),
nor shall the limits specified in this Section 20.2 apply in the event of fraud, abandonment of the Work, gross negligence
or willful misconduct of Contractor.

20.3                     
Delay Liquidated Damages In General.

20.3.1. 
Delay Liquidated Damages Not Penalty. It is expressly agreed that Delay Liquidated Damages payable under this
Agreement do not constitute a penalty and that the

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Parties, having negotiated in
good faith for such specific Delay Liquidated Damages and having agreed that the amount of such Delay Liquidated Damages is reasonable
in light of the anticipated harm caused by the breach related thereto and the difficulties of proof of loss and inconvenience or
nonfeasibility of obtaining any adequate remedy, are estopped from contesting the validity or enforceability of such Delay Liquidated
Damages. If Contractor, Guarantor or anyone on their behalf successfully challenges the enforceability of the agreed upon per Day
(daily) amount of the Delay Liquidated Damages (such as that the amounts, though agreed to at the Effective Date, are now a penalty
once they are assessed in accordance with this Agreement), Contractor specifically agrees to pay Owner all actual damages incurred
by Owner in connection with such breach, including any and all consequential damages (such as loss of profits and revenues, business
interruption, loss of opportunity and use) and all costs incurred by Owner in proving the same, without regard to any limitations
whatsoever set forth in this Agreement.

20.3.2. 
Delay Liquidated Damages as Exclusive Damages. Payment of any Delay Liquidated Damages with respect to any
Work shall be in addition to, and not in lieu of, Contractor’s other obligations under this Agreement and shall in no way
affect Owner’s right to terminate this Agreement under Article 16 or receive other Delay Liquidated Damages or remedies
contemplated in this Agreement for any other aspect of Contractor’s obligations hereunder. Notwithstanding the foregoing
and without limitation of Owner’s rights under Section 16.1, Delay Liquidated Damages shall be the sole and exclusive
damages owed by Contractor for Contractor’s delay in achieving Substantial Completion by the Guaranteed Substantial Completion
Date.

20.3.3. 
Payment of Delay Liquidated Damages. With respect to Delay Liquidated Damages that accrue, Owner, at its sole
discretion, may either (i) invoice Contractor for such owed Delay Liquidated Damages, and within seven (7) Days of Contractor’s
receipt of such invoice, Contractor shall pay Owner Delay Liquidated Damages, (ii) withhold from Contractor amounts that are otherwise
due and payable to Contractor in the amount of such Delay Liquidated Damages, or (iii) collect on the Letter of Credit in the amount
of such Delay Liquidated Damages upon giving Contractor three (3) Days’ written notice pursuant to Section 10.2 and
Contractor’s failure to pay such Delay Liquidated Damages within such three (3) Day period. In addition, Contractor shall
pay Owner all Delay Liquidated Damages, if any, owed under this Agreement for Substantial Completion as a condition precedent to
achieving Substantial Completion.

20.4                     
Consequential Damages. Notwithstanding any
other provisions of this Agreement to the contrary, neither Owner nor Contractor shall be liable under this Agreement or under
any cause of action related to the subject matter of this Agreement, whether in contract, tort (including negligence), strict liability,
products liability, indemnity, contribution, or any other cause of action for special, indirect, incidental or consequential losses
or damages, including loss of profits, use, opportunity, revenues, financing, bonding capacity, or business interruptions, or damages
or losses for principal office expenses including compensation of personnel stationed there; provided that the limitation
of liability set forth in this Section 20.4 shall not apply (i) to amounts encompassed within Delay Liquidated
Damages; (ii) to Contractor’s and Owner’s indemnification obligations under this Agreement for claims brought by any
third party; (iii) to Contractor’s confidentiality obligations under this

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Agreement; (iv) to Contractor’s
or Owner’s respective fraud, willful misconduct or gross negligence; or (v) where consequential damages are expressly permitted
under Section 20.3.1. For the purposes of this Section 20.4, the term “Contractor” shall include Contractor,
its Affiliates, and the employees, officers, directors and shareholders of each of Contractor and its Affiliates, the term “Owner”
shall include Owner, its Affiliates, and the employees, officers, directors and shareholders of each of Owner and its Affiliates,
and the term “third party” shall mean any Person other than Contractor, Owner and their respective Affiliates.

Article
21

MISCELLANEOUS PROVISIONS

21.1                     
Entire Agreement. This Agreement, including
the Attachments and Schedules attached to and incorporated into this Agreement, contains the entire understanding of the Parties
with respect to the subject matter hereof and incorporates any and all prior agreements and commitments with respect thereto. There
are no other oral understandings, terms or conditions, and neither Party has relied upon any representation, express or implied,
not contained in this Agreement. General or special conditions included in any of Contractor’s price lists, invoices, tickets,
receipts or other such documents presented to Owner shall have no applicability to Owner with respect to this Agreement. All Attachments
and Schedules shall be incorporated into this Agreement by such reference and shall be deemed to be an integral part of this Agreement.
Without limiting the foregoing, this Agreement supersedes in its entirety any agreements between the Parties related to the Project.
All work performed under any agreements between the Parties related to the Project shall be governed by the terms and conditions
set forth in this Agreement.

21.2                     
Amendments. Other than unilateral Change Orders
issued by Owner to Contractor pursuant to Section 6.1.4 or Section 6.2.4, no change, amendment or modification
of this Agreement shall be valid or binding upon the Parties hereto unless such change, amendment or modification is in writing
and duly executed by both Parties hereto.

21.3                     
Interpretation. Preparation of this Agreement
has been a joint effort of the Parties and the resulting document shall not be construed more severely against one of the Parties
than against the other. The captions contained in this Agreement are for convenience and reference only and in no way define, describe,
extend or limit the scope of intent of this Agreement or the intent of any provision contained herein.

21.4                     
Notice. Any notice, demand, offer, or other
written instrument required or permitted to be given pursuant to this Agreement shall be in writing signed by the Party giving
such notice and shall be hand delivered or sent by overnight courier, messenger, email or certified mail, return receipt requested,
to the other Party at the address set forth below.

If delivered to Owner:

 

Richard Palmer

2790 Skypark Drive

Suite 105

Torrance, CA 90505

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Email: rpalmer@gceholdings.com

 

And to:

 

Troy Gould

1801 Century Park East,

Suite 1600

Los Angeles CA 90067

Attn: Istvan Benko, Esq.

Email: ibenko@troygould.com

 

If delivered to Contractor:

 

CTCI Americas, Inc

Attn: Patrick Jameson

11490 Westheimer Road, Suite 200

Houston, TX 77077

Email: patrick.jameson@ctci.com

 

Each Party shall have the right
to change the place to which notice shall be sent or delivered by sending a similar notice to the other Party in like manner. Notices,
demands, offers or other written instruments shall be deemed have been duly given (i) on receipt if given by hand delivery, (ii)
on the first Day following delivery to a nationally recognized United States overnight courier service, fee prepaid, return receipt
or other confirmation of delivery requested, (iii) on the third Day following delivery to the U.S. Postal Service as certified
or registered mail, return receipt requested, postage prepaid, and (iv) on receipt, if it is delivered by email or other means
of electronic transmission.

21.5                     
Severability. If any provision or part thereof
in this Agreement is determined to be illegal, invalid or unenforceable, such illegality, invalidity or unenforceability will not
impair the operation of or affect those remaining portions of such provision and this Agreement that are legal, valid and enforceable.
Such provision or part thereof will be modified so as to be legal, valid and enforceable consistent as closely as possible with
the intent of the original language of such provision or part thereof and shall be enforced to the extent possible consistent with
Applicable Law. If the illegality, invalidity or unenforceability of such provision or part thereof cannot be modified consistent
with the intent of the original language, such provision will be deleted and treated as if it were never a part of this Agreement
and shall not affect the validity of the remaining portions of the provision or this Agreement.

21.6                     
Assignment. Neither Party may assign its rights,
title and interest in this Agreement to any other Person without the prior written consent of the non-assigning Party hereto, except
Owner may, without Contractor’s consent (i) assign, pledge or grant a security interest in this Agreement to any of Lender
or Owner’s equity partners or (ii) assign or novate its rights and responsibilities under this Agreement to any Affiliate
of Owner or any equity owner of Owner. In the event that Owner elects to sell, assign or novate its interest in the Work or the
Project to any Person other than Owner’s Lender, equity partners, Affiliates or any equity owner of Owner, Owner shall promptly
furnish reasonable evidence to Contractor, that the

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Person to whom Owner intends
to assign or novate Owner’s interest has the ability to perform the obligations required by the terms of this Agreement and
has adequate funds available as demonstrated by a current credit report, current financial statements and current bank statements
or other supporting documentation as is reasonably required by Contractor. If Owner fails to provide such financial information
in a timely manner, Contractor shall be entitled to reject such assignment. When duly assigned in accordance with the foregoing,
this Agreement shall be binding upon and shall inure to the benefit of the assignee; provided that any assignment by Contractor
pursuant to this Section 21.6 shall not relieve Contractor of any of its obligations or liabilities under this Agreement.
Any assignment not in accordance with this Section 21.6 shall be void and without force or effect. This Agreement shall
be binding upon and inures to the benefit of the Parties hereto, their permitted successors and permitted assigns.

21.7                     
No Waiver. Any failure of either Party to
enforce any of the provisions of this Agreement or to require compliance with any of its terms at any time during the term of this
Agreement shall in no way affect the validity of this Agreement, or any part hereof, and shall not be deemed a waiver of the right
of such Party thereafter to enforce any and each such provisions.

21.8                     
Governing Law. This Agreement and all matters
arising out of or relating to this Agreement shall be governed by, and construed in accordance with, the laws of the State of California
(without giving effect to the principles thereof relating to conflicts of law). The United Nations Convention on Contracts for
the International Sale of Goods shall not apply to this Agreement and shall be disclaimed in and excluded from any Subcontracts
and Sub-subcontracts entered into by Contractor in connection with the Work or the Project.

21.9                     
Further Assurances. Contractor and Owner agree
to provide such information, execute and deliver any such instruments and documents and to take such other actions as may be necessary
or reasonably requested by the other Party that are not inconsistent with the provisions of this Agreement and that do not involve
the assumptions of obligations greater than those provided for in this Agreement, in order to give full effect to this Agreement
and to carry out the intent of this Agreement. 

21.10                 
Foreign Corrupt Practices Act. With
respect to the performance of the Work, Owner shall, Contractor shall, and Contractor shall cause each of its Subcontractors and
Sub-subcontractors, and the agents and employees of such Subcontractors and Sub-subcontractors, to comply with all provisions of
the Foreign Corrupt Practices Act of the United States (15 U.S.C. § 78dd-1 and 2) and shall not take any action that could
result in Contractor, Owner or any of their Affiliates becoming subject to any action, penalty or loss of benefits under such Act.

21.11                 
Priority. The documents that form this Agreement
are listed below in this Section 21.11 in order of priority, with the document having the highest priority
listed first and the one with the lowest priority listed last. Subject to Section 1.1 under the definition of Applicable
Codes and Standards regarding conflicts or inconsistencies between any Applicable Codes and Standards, in the event of any conflict
or inconsistency between a provision in one document and a provision in another document, the document with the higher priority
shall

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control. In the event of a conflict
or inconsistency between provisions contained within the same document, then the provision that requires the highest standard of
performance on the part of Contractor shall control. This Agreement is composed of the following documents, which are listed in
priority: (i) Change Orders or written amendments to this Agreement; (ii) this Agreement; and (iii) Attachments and Schedules to
this Agreement.

21.12                 
Restrictions on Public Announcements. Neither
Contractor nor its Subcontractors or Sub-subcontractors shall (i) use or take any photographs or videos of any part of the Project
(except as may be required to complete the Work in accordance with this Agreement) or (ii) publicly refer to the Work or the Project
in any manner, including the issuance of a press release, advertisement, publicity material, prospectus, financial document or
similar material, the creation of any business development materials, reference materials or similar materials, or the participation
in a media interview that mentions or refers to the Work or the Project without the prior written consent of Owner in its reasonable
discretion. Under no circumstance shall Contractor permit access to the Site by third parties who are not involved in the performance
of the Work without prior written consent of Owner. Any announcement or press release issued by Contractor pertaining to the Work
shall only include information previously released and approved by Owner in writing.

21.13                 
Parent Guarantee. Prior to the Effective Date,
Guarantor will guarantee the full and faithful performance of all obligations of Contractor under this Agreement in the form attached
as Attachment X hereto (“Parent Guarantee”). The guarantee contained in this Section 21.13
is unconditional and irrevocable.

21.14                 
Counterparts. This Agreement may be signed
in any number of counterparts and each counterpart shall represent a fully executed original as if signed by each of the Parties.
Electronic signatures shall be deemed as effective as original signatures.

21.15                 
Owner’s Lender. In addition to other
assurances provided in this Agreement, Contractor acknowledges that Owner intends to obtain project financing associated with the
Project and Contractor agrees to cooperate with Owner and Lender in connection with such project financing, including (i) to supply
such information and documentation, (ii) to grant such written consents to the assignment of this Agreement and entering into a
direct agreement with the Lender (which shall be substantially in the form of Schedule Z-1), (iii) Guarantor to grant such
written consents to the assignment of the Parent Guarantee and entering into a direct agreement with the Lender (which shall be
substantially in the form of Schedule Z-2), (iv) to execute such amendments to this Agreement as any Lender may require
to the extent that the requested changes do not materially adversely affect the rights and obligations of Contractor hereunder,
and (v) to take such action or execute such documentation as any Lender shall reasonably require, covering matters that are customary
in project financings of this type such as Lender assignment or security rights with respect to this Agreement, direct notices
to Lender, step-in/step-out rights, access by Lender’s representative and other matters applicable to such project financing;
provided however, that Contractor shall have no obligation to assume different obligations or responsibilities pursuant
to the Work than those existing under this Agreement. Contractor acknowledges and agrees that Owner’s execution of this Agreement
is contingent upon obtaining such non-recourse project financing and agrees further that in the event Owner does not obtain such
project financing, Owner shall

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not be liable to Contractor by
reason of any terms and conditions contained in or connected with this Agreement except to the extent Contractor is or has performed
work pursuant to written authorization received from Owner, provided, however, that Owner shall only be liable for Work
actually performed by Contractor.

21.16                 
Survival. Article 10, Article
11, Article 13, Article 15, Article 16, Article 17, Article 18, Article 19, Article
20, and Sections 3.8, 3.9, 3.13, 3.17, 4.4, 9.1, 12.8 and 21.8 and
this Section 21.16 shall survive termination or expiration of this Agreement, in addition to any other provisions which
by their nature should, or by their express terms do, survive or extend beyond the termination or expiration of this Agreement.

[SIGNATURES ON FOLLOWING PAGE]

 

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IN
WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their duly authorized representatives to be
effective as of the Effective Date.

 

Owner:

 

Bakersfield
Renewable Fuels, LLC

 

 

/s/ Richard Palmer

By: ______________________________________

     Richard Palmer

Name: ____________________________________

     President

Title: _____________________________________

 

 

Contractor:

 

CTCI AMERICAS, INC.

 

 

/s/ Patrick Jameson

By: ______________________________________

     Patrick Jameson

Name: ____________________________________

     President

Title: _____________________________________

 

    89EX-10.1

 Exhibit 10.1 

INGREDION INCORPORATED 

STOCK INCENTIVE PLAN 
 (as
amended by Board of Directors March 16, 2021, with share increase 
 approved by Stockholders May 19, 2021) 

I.     INTRODUCTION 

1.1    Purpose. The purpose of the Ingredion Incorporated Stock Incentive Plan (the “Plan”)
is to promote the long-term financial success of Ingredion Incorporated (the “ Company”) by (i) attracting and retaining executive personnel of outstanding ability; (ii) strengthening the Company’s capability to
develop, maintain and direct a competent management team; (iii) motivating executive personnel by means of performance-related incentives to achieve longer-range performance goals; (iv) providing incentive compensation opportunities which
are competitive with those of other major corporations; (v) enabling such executive personnel to participate in the long-term growth and financial success of the Company through increased stock ownership and (vi) serving as a mechanism to
compensate outside directors. 
 1.2    Certain Definitions. In addition to the defined terms set forth
elsewhere in this Plan, the terms set forth below, shall, when capitalized, have the following respective meanings. 

“Agreement” shall mean the written agreement evidencing an award hereunder between the Company and the recipient of
such award. 
 “Award” shall mean an Incentive Stock Option, a Non-Statutory
Stock Option, an SAR, a Bonus Stock Award, Performance Share Award, Restricted Stock Award or a Restricted Stock Unit Award. 

“Board” shall mean the Board of Directors of the Company. 

“Bonus Stock” shall mean shares of Common Stock that are not subject to a Restriction Period or Performance Measures.

 “Bonus Stock Award” shall mean an award of Bonus Stock under this Plan. 

“Cause” shall mean the willful and continued failure to substantially perform the duties assigned by the Company
(other than a failure resulting from the Participant’s Disability), the willful engaging in conduct which is demonstrably injurious to the Company or any Subsidiary, monetarily or otherwise, including conduct that, in the reasonable judgment of
the Committee, no longer conforms to the standard of the Company’s executives, any act of dishonesty, commission of a felony, or a significant violation of any statutory or common law duty of loyalty to the Company. 

“Change in Control” shall have the meaning set forth in Section 5.8(b). 

“Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Committee” shall mean the People, Culture and Compensation Committee of the Board or a subcommittee thereof, or any
other committee designated by the Board to administer this Plan, consisting of two or more members of the Board, each of whom shall be (i) a “Non-Employee Director” within the meaning of Rule 16b-3 under the Exchange Act, and (ii) an “Independent Director” within the meaning of the rules of the New York Stock Exchange. 

“Common Stock” shall mean the common stock, $.01 par value, of the Company. 

“Disability Date” shall mean the date on which a Participant becomes a “Disabled Participant” under the
Ingredion Incorporated Retirement Savings Plan for Salaried Employees (the “Ingredion Savings Plan”) or a successor to such plan or any such similar plan containing a disability provision applicable to the Participant. If a Participant is
not covered by the Ingredion Savings Plan or a similar plan containing a disability provision, the determination of whether the Participant has a “Disability Date” shall be made by the Committee by applying the provisions of the Ingredion
Savings Plan as if the Participant were a participant of such plan or any similar plan that the Committee determines to be appropriate. 

 “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended. 
 “Fair Market Value” shall mean the closing price of a share of Common Stock as reported in the New York
Stock Exchange Composite Transactions on the date as of which such value is being determined or, if there shall be no reported transactions for such date, on the next preceding date for which transactions were reported; provided, however, that, in
the case of the exercise of an Incentive Stock Option or Non-Statutory Stock Option through a broker, Fair Market Value for the purpose of tax withholding shall mean the sales price received for a share of
Common Stock and, provided further, that Fair Market Value may be determined by the Committee by whatever other means or method as the Committee, in the good faith exercise of its discretion, shall at such time deem appropriate. 

“Free-Standing SAR” shall mean an SAR which is not granted in tandem with, or by reference to, an option, which
entitles the holder thereof to receive, upon exercise, shares of Common Stock (which may be Restricted Stock), cash or a combination thereof with an aggregate value equal to the excess of the Fair Market Value of one share of Common Stock on the
date of exercise over the base price of such SAR, multiplied by the number of such SARs which are exercised. 
 “Good
Reason” shall have the meaning specified in the Agreement relating to an award. 
 “Incentive Stock
Option” shall mean an option to purchase shares of Common Stock which meets the requirements of Section 422 of the Code, or any successor provision, and which is intended by the Committee to constitute an Incentive Stock Option.

 “Non-Statutory Stock Option” shall mean an option to purchase shares of
Common Stock that is not an Incentive Stock Option. 
 “Participant” shall mean an individual who has been granted
an Incentive Stock Option, a Non-Statutory Stock Option, an SAR, a Bonus Stock Award, a Performance Share Award, a Restricted Stock Award or a Restricted Stock Unit Award. 

“Performance Measures” shall mean the criteria and objectives, established by the Committee, which shall be satisfied
or met (i) as a condition to the exercisability of all or a portion of an option or SAR, (ii) as a condition to the grant of a Stock Award or (iii) during the applicable Restriction Period or Performance Period as a condition to the
holder’s receipt of Common Stock subject to a Restricted Stock Award, Restricted Stock Unit Award or a Performance Share Award and/or of payment with respect to such award. The Committee may amend or adjust the Performance Measures or other
terms and conditions of an outstanding award in recognition of unusual or nonrecurring events affecting the Company or its financial statements or changes in law or accounting. Such criteria and objectives may include one or more of the following:
net sales; pretax income before allocation of corporate overhead and bonus; budget; earnings per share; net income; return on stockholders’ equity; return on assets; return on capital employed; attainment of strategic and operational
initiatives; appreciation in and/or maintenance of the price of the Common Stock or any other publicly traded securities of the Company; market share; gross profits; earnings before interest and taxes; earnings before interest, taxes, depreciation
and amortization; economic value-added models; comparisons with various stock market indices; increase in number of customers and/or reductions in costs; total stockholder return (based on the change in the price of a share of the Company’s
Common Stock and dividends paid); operating income; and cash flows (including, but not limited to, operating cash flow, free cash flow, cash flow return on equity and cash flow return on investment) for the applicable Performance Period. 

“Performance Period” shall mean any period designated by the Committee during which the Performance Measures
applicable to a Performance Share Award shall be measured. 
 “Performance Share” shall mean a right, contingent
upon the attainment of specified Performance Measures within a specified Performance Period, to receive one share of Common Stock, which may be Restricted Stock, or in lieu of all or a portion thereof, at the Committee’s discretion, the Fair
Market Value of such Performance Share in cash. 

  
 2 

 “Performance Share Award” shall mean an award of Performance Shares
under this Plan. 
 “Permanent and Total Disability” shall have the meaning set forth in Section 22(e)(3) of
the Code or any successor thereto. 
 “Restricted Stock” shall mean shares of Common Stock that are subject to a
Restriction Period. 
 “Restricted Stock Award” shall mean an award of Restricted Stock under this Plan. 

“Restricted Stock Unit” shall mean the right to receive one share of Common Stock which shall be contingent upon the
expiration of a specified Restriction Period and subject to such additional restrictions as may be contained in the Agreement relating thereto. 

“Restricted Stock Unit Award” shall mean an award of Restricted Stock Units under this Plan. 

“Restriction Period” shall mean any period designated by the Committee during which (i) the Common Stock subject
to a Restricted Stock Award may not be sold, transferred, assigned, pledged, hypothecated or otherwise encumbered or disposed of, except as provided in this Plan or the Agreement relating to such award or (ii) the conditions to vesting
applicable to an Award have been satisfied. 
 “SAR” shall mean a stock appreciation right which may be a Free
Standing SAR or a Tandem SAR. 
 “Stock Award” shall mean a Restricted Stock Award, a Restricted Stock Unit Award,
or a Bonus Stock Award. 
 “Tandem SAR” shall mean an SAR which is granted in tandem with, or by reference to, an
option (including a Non-Statutory Stock Option granted on or prior to the date of grant of the SAR), which entitles the holder thereof to receive, upon exercise of such SAR and surrender for cancellation of
all or a portion of such option, shares of Common Stock (which may be Restricted Stock), cash or a combination thereof with an aggregate value equal to the excess of the Fair Market Value of one share of Common Stock on the date of exercise over the
base price of such SAR, multiplied by the number of shares of Common Stock subject to such option, or portion thereof, which is surrendered. 

1.3    Administration. This Plan shall be administered by the Committee. The Committee shall have the
authority to determine eligibility for awards hereunder and to determine the form, amount and timing of each award to such persons and, if applicable, the number of shares of Common Stock, the performance period, the restriction period and the
number of shares subject to such an award, the exercise price associated with the award, the time and conditions of exercise or settlement of the award and all other terms and conditions of the award, including, without limitation, the form of the
Agreement evidencing the award. The Committee may, in its sole discretion and for any reason at any time take action such that (i) any or all outstanding options and SARs shall become exercisable in part or in full, (ii) the Performance
Measures applicable to any outstanding Restricted Stock Award (if any), to any outstanding Restricted Stock Unit Award (if any) and to any outstanding Performance Share Award shall be deemed to be satisfied at the maximum or any other lower level.

 The Committee shall, subject to the terms of this Plan, interpret this Plan and the application thereof, establish rules and regulations
it deems necessary or desirable for the administration of this Plan and may impose, incidental to the grant of an award, conditions with respect to the award, such as limiting competitive employment or other activities. All such interpretations,
rules, regulations and conditions shall be final, binding and conclusive. 
 The Committee shall keep minutes of its meetings and of action
taken by it without a meeting. A majority of the Committee shall constitute a quorum. The acts of the Committee shall be either (i) acts of a majority of the members of the Committee present at any meeting at which a quorum is present or
(ii) acts approved in writing by all of the members of the Committee without a meeting. 

  
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 Notwithstanding anything in the Plan to the contrary, in accordance with Section 157(c)
of the Delaware General Corporation Law, the Committee may, by resolution, authorize one or more executive officers of the Company to do one or both of the following: (i) designate non-director and non-executive officer employees of the Company or any of its Subsidiaries to be recipients of rights or options entitling the holder thereof to purchase from the Company shares of its capital stock of any class or
other awards hereunder; and (ii) determine the number of such rights, options, or awards to be received by such non-director and non-executive officer employees;
provided, however, that the resolution so authorizing such executive officer or officers shall specify the total number of rights, options, or awards such executive officer or officers may so award. Any action taken pursuant to such authorization
made in accordance with Section 157(c) of the Delaware General Corporation Law shall be deemed to be action taken by the Committee. The Committee may not authorize an executive officer to designate himself or herself or any director or other
executive officer of the Company to be a recipient of any such rights, options, or awards. 
 Notwithstanding anything in the Plan to the
contrary, to the extent an award granted hereunder would be subject to the requirements of Section 409A of the Code and the regulations thereunder, then the Agreement for such award and the Plan shall be construed and administered in a manner
so that the award complies with Section 409A of the Code and the regulations thereunder; provided, that no particular tax result with respect to any income recognized by a Participant in connection with an award under the Plan is guaranteed and
each Participant shall be responsible for any taxes imposed on the Participant in connection with awards under the Plan. 

1.4    Eligibility. Participants in this Plan shall consist of such directors, officers, and other employees
of the Company and its Subsidiaries from time to time, and any other entity designated by the Board or the Committee (individually a “Subsidiary” and collectively the “Subsidiaries”) as the Committee, in its sole discretion,
directly or indirectly pursuant to the fourth paragraph of Section 1.3, may select from time to time. For purposes of this Plan, reference to employment by the Company shall also mean employment by a Subsidiary. 

1.5    Shares Available. Subject to adjustment as provided in Section 5.7, 2,500,000 shares of Common
Stock plus the number of shares available for new awards under the Plan as in effect immediately prior to the Company’s 2021 Annual Meeting of Stockholders (the “2021 Annual Meeting”) (collectively, the “Plan Maximum”) shall
be available under this Plan for awards that are granted after the Company’s 2021 Annual Meeting, all of which shares may be granted hereunder with respect to awards of Incentive Stock Options. Shares of Common Stock subject to awards
outstanding under the Plan immediately prior to the 2021 Annual Meeting shall also be available for issuance hereunder. 
 The Plan Maximum
shall be reduced by the sum of the aggregate number of shares of Common Stock (i) that are issued or issuable in connection with a Stock Award granted after the 2021 Annual Meeting or (ii) that are subject to options, SARs or Performance
Shares granted after the 2021 Annual Meeting in the following ratios: 1 to 1 for each Incentive Stock Option, Non-Statutory Stock Option or Free-Standing SAR, 2.5 to 1 for any other type of award granted under
the Plan after the Company’s 2005 Annual Meeting of Stockholders and prior to the Company’s 2010 Annual Meeting of Stockholders, and 2 to 1 for any other type of award granted under the Plan after the Company’s 2010 Annual Meeting of
Stockholders, it being understood that in the case of an SAR the reduction shall be equal to the total number of SARs originally subject to the award, regardless of the number of shares of Common Stock that may be issued upon settlement thereof.

 Notwithstanding the immediately preceding sentence, the Plan Maximum shall not be reduced by virtue of the grant of Performance Shares or
SARs that may only be settled in cash. 
 To the extent that shares of Common Stock subject to an option (other than in connection with the
exercise of a Tandem SAR), Stock Award or Performance Share Award (regardless of whether such option, Stock Award or Performance Share Award was granted before or after the 2021 Annual Meeting) are not issued or delivered by reason of the
expiration, termination, cancellation or forfeiture of such award: (i) such shares of Common Stock shall again be available under this Plan and (ii) the number of shares available under the Plan shall be increased to the extent such number
was reduced when such award was granted. If a Performance Share or SAR (regardless of whether such Performance Share or SAR was granted before or after the 2021 Annual Meeting) that can be settled in either cash or Common Stock is settled in cash,
in whole or in part, the number of shares available under the Plan shall be increased to the extent such number was reduced with respect to the cash-settled portion of the award when the award was granted. If an award is made in the form of an
option coupled with a Performance Share Award 

  
 4 

 
(regardless of whether such Performance Share or SAR was granted before or after the 2021 Annual Meeting) such that the Participant can receive the designated number of shares either upon
exercise of the option or upon earning of the Performance Share, but not both, such coupled award shall be treated as a single award of the designated number of shares for purposes of this Section 1.5. 

Notwithstanding anything in this Section 1.5 to the contrary, shares of Common Stock subject to an award under this Plan may not be made
available for issuance under this Plan if such shares are: (i) shares that were subject to a stock-settled SAR and were not issued as a result of the net settlement or net exercise of such SAR, (ii) shares tendered by the Participant or
withheld by the Company to pay the exercise price of an Incentive Stock Option or Non-Statutory Stock Option, (iii) shares delivered to or withheld by the Company to pay withholding taxes related to an
award under this Plan, or (iv) shares repurchased on the open market with the proceeds of an option exercise. 
 Shares of Common Stock
shall be made available from authorized and unissued shares of Common Stock or authorized and issued shares of Common Stock reacquired and held as treasury shares or otherwise or a combination thereof. 

Except with respect to a maximum of five percent (5%) of the shares of Common Stock authorized in this Section 1.5, any Stock Award which
vests on the basis of a Participant’s continued employment with or provision of service to the Company shall not provide for vesting which is any more rapid than annual pro rata vesting over a three (3) year period and any Stock Award
which vests upon the attainment of performance goals shall provide for a performance period of at least twelve (12) months; provided that vesting may be shortened in the case of death, disability, retirement or Change in Control as set forth in
this Plan or determined by the Committee. 
 II.     STOCK OPTIONS AND STOCK APPRECIATION RIGHTS 

2.1    Stock Options. The Committee may, in its discretion, grant Incentive Stock Options or Non-Statutory Stock Options to such eligible persons under Section 1.4 as may be selected by the Committee. 

Options shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with
the terms of this Plan, as the Committee shall deem advisable; provided, however, that no Incentive Stock Option or Non-Statutory Stock Option shall provide for the payment of dividends or dividend equivalents
with respect to periods prior to exercise: 
 (a) Number of Shares and Purchase Price. The number of shares and the
purchase price per share of Common Stock subject to an option shall be determined by the Committee, provided, however, that the purchase price per share of Common Stock shall not be less than 100% of the Fair Market Value of a share of Common Stock
on the date of grant of such option and provided further, that if an Incentive Stock Option shall be granted to any person who, at the time such option is granted, owns capital stock possessing more than ten percent of the total combined voting
power of all classes of capital stock of the Company (or of any parent or subsidiary as defined in Section 424 of the Code) (a “Ten Percent Holder ”), the purchase price per share of Common Stock shall be the price (currently
110% of Fair Market Value) required by the Code in order to constitute an Incentive Stock Option. 
 (b) Option Period and
Exercisability. Each option, by its terms, shall require the Participant to remain in the continuous employ of the Company for at least one year following the date of grant of the option before any part of the option shall be exercisable,
except in the case of a Change in Control. The period during which an option may be exercised shall be determined by the Committee; provided, however, that no Incentive Stock Option or Non-Statutory Stock
Option shall be exercised later than ten years after its date of grant; provided further, that if an Incentive Stock Option is granted to a Ten Percent Holder, such option shall not be exercised later than five years after its date of grant. The
Committee may, in its discretion, establish Performance Measures which shall be satisfied or met as a condition to the grant of an option or to the exercisability of all or a portion of an option. The Committee shall determine whether an option
shall become exercisable in cumulative or non-cumulative installments and in part or in full at any time. An exercisable option, or portion thereof, may be exercised only for whole shares of Common Stock. 

(c) Method of Exercise. An option may be exercised (i) by giving written notice to the Company specifying the number
of whole shares of Common Stock to be purchased and accompanied by payment therefore in full (or 

  
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arrangement made for such payment to the Company’s satisfaction) either (A) by the delivery of cash in the amount of the aggregate purchase price payable by reason of such exercise,
(B) by delivery (either actual delivery or by attestation procedures established by the Company) of previously acquired shares of Common Stock that have an aggregate Fair Market Value, determined as of the date of exercise, equal to the
aggregate purchase price payable by reason of such exercise, (C) by the delivery of cash in the amount of the aggregate purchase price payable by reason of such exercise by a broker-dealer acceptable to the Company to whom the optionee has
submitted an irrevocable notice of exercise, (D) authorizing the Company to withhold whole shares of Common Stock which would otherwise be delivered having an aggregate Fair Market Value, determined as of the date of exercise, equal to the
aggregate purchase price payable by reason of such exercise, or (E) a combination of (A), (B) and (D), (ii) if applicable, by surrendering to the Company any Tandem SARs which are cancelled by reason of the exercise of the option and
(iii) by executing such documents as the Company may reasonably request. Any fraction of a share of Common Stock which would be required to pay such purchase price shall be paid in cash by the optionee. No certificate representing Common Stock
shall be delivered until the full purchase price therefore has been paid (or arrangement made for such payment to the Company’s satisfaction). The provisions of this paragraph shall supersede the provisions of any Agreement relating to an
option, including any option outstanding as of the date of this Amendment. 
 2.2    Stock Appreciation
Rights. The Committee may, in its discretion, grant SARs to such eligible persons under Section 1.4 as may be selected by the Committee. The Agreement relating to an SAR shall specify whether the SAR is a Tandem SAR or a Free-Standing
SAR. SARs shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable; provided, however, that no SAR shall
provide for the payment of dividends or dividend equivalents with respect to periods prior to settlement: 
 (a) Number of SARs and
Base Price. The number of SARs subject to an award shall be determined by the Committee. Any Tandem SAR related to an Incentive Stock Option shall be granted at the same time that such Incentive Stock Option is granted. The base price of a
Tandem SAR shall be the purchase price per share of Common Stock of the related option. The base price of a Free-Standing SAR shall be determined by the Committee; provided, however, that such base price shall not be less than 100% of the Fair
Market Value of a share of Common Stock on the date of grant of such SAR. 
 (b) Exercise Period and Exercisability. Each SAR,
by its terms, shall require the Participant to remain in the continuous employ of the Company for at least one year following the date of grant of the SAR before any part of the SAR shall be exercisable, except in the case of a Change in Control.
The Agreement relating to an award of SARs shall specify whether such award may be settled in shares of Common Stock (including shares of Restricted Stock) or cash or a combination thereof. The period for the exercise of an SAR shall be determined
by the Committee; provided, however, that no SAR may be exercised later than 10 years after its date of grant; provided further, that no Tandem SAR shall be exercised later than the expiration, cancellation, forfeiture or other termination of
the related option. The Committee may, in its discretion, establish Performance Measures which shall be satisfied or met as a condition to the grant of an SAR or to the exercisability of all or a portion of an SAR. The Committee shall determine
whether an SAR may be exercised in cumulative or non-cumulative installments and in part or in full at any time. An exercisable SAR, or portion thereof, may be exercised, in the case of a Tandem SAR, only with
respect to whole shares of Common Stock and, in the case of a Free Standing SAR, only with respect to a whole number of SARs. If an SAR is exercised for shares of Restricted Stock, a certificate or certificates representing such Restricted Stock
shall be issued in accordance with Section 3.2(c) and the holder of such Restricted Stock shall have such rights of a stockholder of the Company as determined pursuant to Section 3.2(d). Prior to the exercise of an SAR for shares of Common
Stock, including Restricted Stock, the holder of such SAR shall have no rights as a stockholder of the Company with respect to the shares of Common Stock subject to such SAR. 

(c) Method of Exercise. A Tandem SAR may be exercised (i) by giving written notice to the Company specifying the number of
whole SARs which are being exercised, (ii) by surrendering to the Company any options which are cancelled by reason of the exercise of the Tandem SAR and (iii) by executing such documents as the Company may reasonably request. A
Free-Standing SAR may be exercised (x) by giving written notice to the Company specifying the whole number of SARs which are being exercised and (y) by executing such documents as the Company may reasonably request. 

  
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 2.3    Termination of Employment or Service.
(a) Non-Statutory Stock Options and SARs. Unless otherwise specified in the Agreement evidencing an option or SAR, but subject to Section 2.1(b) or Section 2.2(b), as the case may
be, if the holder of an option (other than an Incentive Stock Option) or SAR terminates employment with or service to the Company (1) by reason of (i) death, or (ii) retirement on or after (A) age 65, (B) age 62 with a minimum of
5 years of employment with or service to the Company or (C) age 55 with a minimum of 10 years of employment with or service to the Company, or (iii) the occurrence of such Participant’s Disability Date, or (2) for Good
Reason, or if such holder’s employment is terminated by the Company or any of its Subsidiaries or affiliates without Cause within two years following a Change in Control, such option or SAR shall be exercisable for the remainder of the option
period or SAR period as stated under the terms of the option or SAR, as the case may be, but only to the extent that such option or SAR was exercisable at the date of such termination of employment. 

If the employment with the Company of the holder of an option (other than an Incentive Stock Option) or SAR is terminated under any other
circumstance, such option or SAR shall remain exercisable to the extent that it was exercisable at the date of such termination of employment, for a period of 90 days following such termination of employment. Notwithstanding anything to the
contrary contained in this Section 2.3(a), if such holder’s employment with the Company is terminated by the Company for Cause, his or her rights under all options and SARs shall terminate automatically on the effective date of such
termination of employment. 
 (b) Termination of Employment — Incentive Stock Options. Unless
otherwise specified in the Agreement evidencing an option, but subject to Section 2.1(b), if the holder of an Incentive Stock Option terminates employment with the Company by reason of Permanent and Total Disability, such Incentive Stock Option
shall be exercisable only to the extent that it was exercisable on the effective date of such termination of employment and may thereafter be exercised by such holder (or such holder’s legal representative or similar person) until the date
which is one year after the effective date of such termination of employment. 
 Unless otherwise specified in the Agreement evidencing an
option, but subject to Section 2.1(b), if the holder of an Incentive Stock Option ceases to be an employee of the Company by reason of his or her death, such Incentive Stock Option shall be exercisable only to the extent that it was exercisable
on the date of such optionee’s death and may thereafter be exercised by such optionee’s executor, administrator, legal representative, beneficiary or similar person until the date which is three years after the date of death. 

If the Company terminates the employment of the holder of an Incentive Stock Option for Cause, such Incentive Stock Option shall terminate
automatically on the effective date of such termination of employment. 
 Unless otherwise specified in the Agreement evidencing an option,
but subject to Section 2.1(b), if the Company’s employment of the holder of an Incentive Stock Option is terminated for any reason other than Permanent and Total Disability, death or Cause, such Incentive Stock shall be excisable only to
the extent that it was exercisable on the effective date of such termination of employment, and may thereafter be exercised by such holder (or such holder’s legal representative or similar person) until the date which is 90 days after the
effective date of such termination of employment. 
 If the holder of an Incentive Stock Option dies during the period set forth in the
first paragraph of this Subsection (b) following termination of employment by reason of Permanent and Total Disability, or during the period set forth in the fourth paragraph of this Subsection (b) following termination of employment for
any reason other than Permanent and Total Disability for death or Cause, such Incentive Stock Option shall be exercisable only to the extent it was exercisable on the date of the holder’s death and may thereafter be exercised by the
holder’s executor, administrator, legal representative, beneficiary or similar person until the date which is three years after the date of death. 

Notwithstanding any provision herein to the contrary, in no event shall an Incentive Stock Option described in this Subsection (b) be
exercisable beyond the original term (e.g., ten years or five years after the date of grant or otherwise) during which such Incentive Stock Option could have been exercised. 

2.4    No Repricing. Notwithstanding anything in this Plan to the contrary and subject to Section 5.7,
without the approval of the stockholders of the Company the Committee will not amend or replace any previously granted option or SAR in a transaction that constitutes a “repricing,” as such term is used in Section 303A.08 of the

  
 7 

 
Listed Company Manual of the New York Stock Exchange, will not cancel an option or SAR that has an exercise price which is greater than the Fair Market Value of the underlying Common Stock in
exchange for stock, cash or other consideration and will not cancel an option or SAR that has an exercise price greater than the Fair Market Value of the underlying Common Stock and regrant such option or SAR with a lower exercise price or base
price. 
 III.     STOCK AWARDS 

3.1    Stock Awards. The Committee may, in its discretion, grant Stock Awards to such eligible persons under
Section 1.4 as may be selected by the Committee. The Agreement relating to the Stock Award shall specify whether the Stock Award is a Restricted Stock Award, a Restricted Stock Unit Award, or Bonus Stock Award. 

3.2    Terms of Stock Awards. Stock Awards shall be subject to the following terms and conditions and shall
contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable. 

(a) Number of Shares and Other Terms. The number of shares of Common Stock subject to a Restricted Stock Award, Restricted Stock
Unit Award, or Bonus Stock Award and the Performance Measures (if any) and Restriction Period applicable to a Restricted Stock Award or Restricted Stock Unit Award shall be determined by the Committee. 

(b) Vesting and Forfeiture. The Agreement relating to a Restricted Stock Award or Restricted Stock Unit Award shall provide, in
the manner determined by the Committee, in its discretion, and subject to the provisions of this Plan, for the vesting of the shares of Common Stock subject to such award, in the case of a Restricted Stock Award, or the vesting of the Restricted
Stock Unit Award itself, in the case of Restricted Stock Unit Award, (i) if specified Performance Measures are satisfied or met during the specified Restriction Period or (ii) if the holder of such award remains continuously in the
employment of or service to the Company during the specified Restriction Period, and for the forfeiture of the shares of Common Stock subject to such award in the case of a Restricted Stock Award, or the forfeiture of the Restricted Stock Unit Award
itself, in the case of a Restricted Stock Unit Award, (x) if specified Performance Measures are not satisfied or met during the specified Restriction Period or (y) if the holder of such award does not remain continuously in the employment
of or service to the Company during the specified Restriction Period. 
 Bonus Stock Awards shall not be subject to any Performance Measures
or Restriction Periods. 
 (c) Stock Issuance. During the Restriction Period, the shares of Restricted Stock shall be held by
a custodian in book entry form with restrictions on such shares duly noted or, alternatively, a certificate or certificates representing a Restricted Stock Award shall be registered in the holder’s name and may bear a legend, in addition to any
legend which may be required pursuant to Section 5.6, indicating that the ownership of the shares of Common Stock represented by such certificate is subject to the restrictions, terms and conditions of this Plan and the Agreement relating to
the Restricted Stock Award. All such certificates shall be deposited with the Company, together with stock powers or other instruments of assignment (including a power of attorney), each endorsed in blank with a guarantee of signature if deemed
necessary or appropriate by the Company, which would permit transfer to the Company of all or a portion of the shares of Common Stock subject to the Restricted Stock Award in the event such award is forfeited in whole or in part. Upon termination of
any applicable Restriction Period (and the satisfaction or attainment of applicable Performance Measures), or upon the grant of a Bonus Stock Award, in each case subject to the Company’s right to require payment of any taxes in accordance with
Section 5.5, the restrictions shall be removed from the requisite number of shares of Common Stock that are held in book entry form, and all certificates evidencing ownership of the requisite number of shares of Common Stock shall be delivered
to the holder of such award. 
 (d) Rights with Respect to Restricted Stock Awards. Unless otherwise set forth in the
Agreement relating to a Restricted Stock Award, and subject to the terms and conditions of a Restricted Stock Award, the holder of such award shall have all rights as a stockholder of the Company, including, but not limited to, voting rights, the
right to receive dividends and the right to participate in any capital adjustment applicable to all holders of Common Stock; provided, however, that a distribution with respect to shares of Common Stock, other than a regular cash dividend, shall be
deposited with the Company and shall be subject to the same restrictions as the shares of Common Stock with respect to which such distribution was made. 

  
 8 

 (e) Rights and Provisions Applicable to Restricted Stock Unit Awards. The
Agreement relating to a Restricted Stock Unit Award shall specify whether the holder thereof shall be entitled to receive, on a current or deferred basis, dividend equivalents, or the deemed reinvestment of, any deferred dividend equivalents, with
respect to the number of shares of Common Stock subject to such award. Prior to the settlement of a Restricted Stock Unit Award, the holder thereof shall not have any rights as a stockholder of the Company with respect to the shares of Common Stock
subject to such award, except to the extent that the Committee, in its sole discretion, may grant dividend equivalents on Restricted Stock Unit Awards as provided above. No shares of Common Stock and no certificates representing shares of Common
Stock that are the subject to a Restricted Stock Unit Award shall be issued upon the grant of a Restricted Stock Unit Award. Instead, shares of Common Stock subject to Restricted Stock Unit Awards and the certificates representing such shares of
Common Stock shall only be distributed at the time of settlement of such Restricted Stock Unit Awards in accordance with the terms and conditions of this Plan and the Agreement relating to such Restricted Stock Unit Award. 

3.3     Termination of Employment or Service. (a) Disability, Retirement and Death.
Unless otherwise set forth in the Agreement relating to a Restricted Stock Award or Restricted Stock Unit Award, if the employment with or service to the Company of the holder of such award terminates (1) by reason of (i) death, or
(ii) retirement on or after (A) age 65, (B) age 62 with a minimum of 5 years of employment with or service to the Company or (C) age 55 with a minimum of 10 years of employment with or service to the Company, or (iii) the
occurrence of such Participant’s Disability Date, or (2) for any reason within two years following a Change in Control, or (3) under any other circumstances that the Committee may determine shall warrant the application of this
provision, the restrictions imposed hereunder shall lapse with respect to such number of shares of Restricted Stock, if any, or Restricted Stock Units, if any, as the case may be, as shall be determined by the Committee, and the balance of such
shares of Restricted Stock or Restricted Stock Units, as the case may be, shall be forfeited to the Company. 
 (b) Other
Termination. Unless otherwise set forth in the Agreement relating to a Restricted Stock Award or Restricted Stock Unit Award, if the employment with or service to the Company of the holder of such award terminates for any other reason during
the Restriction Period, then the portion of such award which is subject to a Restriction Period on the effective date of such holder’s termination of employment or service shall be forfeited by such holder and such portion shall be canceled by
the Company. 
 IV.     PERFORMANCE SHARE AWARDS 

4.1    Performance Share Awards. The Committee may, in its discretion, grant Performance Share Awards to
such eligible persons under Section 1.4 as may be selected by the Committee. 
 4.2    Terms of Performance
Share Awards. Performance Share Awards shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem advisable. 

(a) Number of Performance Shares and Performance Measures. The number of Performance Shares subject to any award and the
Performance Measures and Performance Period applicable to such award shall be determined by the Committee. 
 (b) Vesting and
Forfeiture. The Agreement relating to a Performance Share Award shall provide, in the manner determined by the Committee, in its discretion, and subject to the provisions of this Plan, for the vesting of such award, if specified Performance
Measures are satisfied or met during the specified Performance Period, and for the forfeiture of such award, if specified Performance Measures are not satisfied or met during the specified Performance Period. 

(c) Settlement of Vested Performance Share Awards. The Agreement relating to a Performance Share Award (i) shall specify
whether such award may be settled in shares of Common Stock (including shares of Restricted Stock) or cash or a combination thereof and (ii) may specify whether the holder thereof shall be entitled to receive, upon settlement of such award,
dividend equivalents, and, if determined by the Committee, interest on or the deemed reinvestment of any deferred dividend equivalents, with respect to the number of shares of Common 

  
 9 

 
Stock subject to such award. If a Performance Share Award is settled in shares of Restricted Stock, a certificate or certificates representing such Restricted Stock shall be issued in accordance
with Section 3.2(c) and the holder of such Restricted Stock shall have such rights of a stockholder of the Company as determined pursuant to Section 3.2(d). Prior to the settlement of a Performance Share Award in shares of Common Stock,
including Restricted Stock, the holder of such award shall have no rights as a stockholder of the Company with respect to the shares of Common Stock subject to such award and shall have rights as a stockholder of the Company in accordance with
Section 5.10. Notwithstanding any other provision of the Plan to the contrary, payments of cash, shares of Common Stock, or any combination thereof to any Participant in respect of the settlement of a Performance Share Award for any Performance
Period shall not exceed $12,000,000, with respect to the cash payment for such award, and also shall not exceed 400,000 shares of Common Stock, with respect to the Common Stock payment for such award. 

4.3    Termination of Employment. 

(a) Disability, Retirement and Death. Unless otherwise set forth in the Agreement relating to a Performance Share Award, if the
employment with or service to the Company of the holder of such award terminates prior to the end of the Performance Period applicable to such award (1) by reason of (i) death, or (ii) retirement on or after (A) age 65 (B) age 62
with a minimum of 5 years of employment with or service to the Company or (C) age 55 (with a minimum of 10 years of employment with or service to the Company, or (iii) the occurrence of such Participant’s Disability Date, or
(2) for any reason within two years following a Change in Control, or (3) under any other circumstances that the Committee may determine shall warrant the application of this provision, the Committee, in its sole discretion and taking into
consideration the performance of such Participant and the performance of the Company during the Performance Period, may authorize the payment to such Participant (or his legal representative) at the end of the Performance Period of all or any
portion of the Performance Award which would have been paid to such Participant for such Performance Period. 
 (b) Other
Termination. Unless otherwise set forth in the Agreement relating to a Performance Share Award, if the employment with the Company of the holder of a Performance Share Award terminates for any other reason prior to the end of a Performance
Period, then the portion of such award which is subject to such Performance Period on the effective date of such holder’s termination of employment shall be forfeited and such portion shall be canceled by the Company. 

V.     GENERAL 

5.1    Effective Date and Term of Plan. This Plan has been approved by the stockholders of the Company and
became effective as of January 1, 1998. This Plan shall terminate on May 1, 2024, unless terminated earlier by the Board. Termination of this Plan shall not affect the terms or conditions of any award granted prior to termination. 

5.2    Amendments. The Board may amend this Plan as it shall deem advisable, subject to any requirement of
stockholder approval required by applicable law, rule or regulation, including Section 422 of the Code; provided, however, that no amendment shall be made without stockholder approval if such amendment would (a) increase the maximum number
of shares of Common Stock available under this Plan (subject to Section 5.7), (b) effect any change inconsistent with Section 422 of the Code, (c) extend the term of this Plan or (d) reduce the minimum purchase price or base
price of a share of Common Stock subject to an option or SAR. No amendment may impair the rights of a holder of an outstanding award without the consent of such holder. 

5.3    Agreement. Each award under this Plan shall be evidenced by an Agreement setting forth the terms and
conditions applicable to such award. No award shall be valid until an Agreement is executed by the Company and the recipient of such award and, upon execution by each party and delivery of the Agreement to the Company (which may occur by facsimile
or other electronic transmission), such award shall be effective as of the effective date set forth in the Agreement. 

5.4    Non-Transferability of Awards. Unless otherwise specified in
the Agreement relating to an award, no award shall be transferable other than by will, the laws of descent and distribution or pursuant to beneficiary designation procedures, if any, approved by the Company. Except to the extent permitted by the
foregoing sentence 

  
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or the Agreement relating to an award, each award may be exercised or settled during the holder’s lifetime only by the holder or the holder’s legal representative or similar person.
Except to the extent permitted by the second preceding sentence or the Agreement relating to an award, no award may be sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise)
or be subject to execution, attachment or similar process. Upon any attempt to so sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of any such award, such award and all rights thereunder shall immediately become null and
void. 
 5.5    Tax Withholding. The Company shall have the right to require, prior to the issuance or
delivery of any shares of Common Stock or the payment of any cash pursuant to an award made hereunder, payment by the holder of such award of any Federal, state, local or other taxes which may be required to be withheld or paid in connection with
such award. Such obligation shall be satisfied either (i) by the Company by withholding whole shares of Common Stock which would otherwise be delivered to a holder, having an aggregate Fair Market Value determined as of the date the obligation
to withhold or pay taxes arises in connection with an award (the “Tax Date”), or withholding an amount of cash which would otherwise be payable to a holder, in the amount necessary to satisfy any such obligation or (ii) by the
holder by any of the following means: (A) a cash payment to the Company in the amount necessary to satisfy any such obligation, (B) delivery (either actual delivery or by attestation procedures established by the Company) to the Company of
shares of Common Stock having an aggregate Fair Market Value, determined as of the Tax Date, equal to the amount necessary to satisfy any such obligation, (C) authorizing the Company to withhold whole shares of Common Stock which would
otherwise be delivered having an aggregate Fair Market Value, determined as of the Tax Date, or withhold an amount of cash which would otherwise be payable to the holder, equal to the amount necessary to satisfy any such obligation, (D) in the
case of the exercise of an Incentive Stock Option or Non-Statutory Stock Option, a cash payment in the amount necessary to satisfy any such obligation by a broker-dealer acceptable to the Company to whom the
optionee has submitted an irrevocable notice of exercise or (E) any combination of (A), (B) and (C). Any fraction of a share of Common Stock which would be required to satisfy such an obligation shall be disregarded and the remaining
amount due shall be paid in cash by the holder. The provisions of this Section shall supersede the provisions of any Agreement relating to an award, including any award outstanding as of the date of this Amendment. 

5.6    Restrictions on Shares. Each award made hereunder shall be subject to the requirement that if at any
time the Company determines that the listing, registration or qualification of the shares of Common Stock subject to such award upon any securities exchange or under any law, or the consent or approval of any governmental body, or the taking of any
other action is necessary or desirable as a condition of, or in connection with, the exercise or settlement of such award or the delivery of shares thereunder, such award shall not be exercised or settled and such shares shall not be delivered
unless such listing, registration, qualification, consent, approval or other action shall have been effected or obtained, free of any conditions not acceptable to the Company. The Company may require that certificates evidencing shares of Common
Stock delivered pursuant to any award made hereunder bear a legend indicating that the sale, transfer or other disposition thereof by the holder is prohibited except in compliance with the Securities Act of 1933, as amended, and the rules and
regulations thereunder. 
 5.7    Adjustment. In the event of any stock split, stock dividend,
recapitalization, reorganization, merger, consolidation, combination, exchange of shares, liquidation, spin-off or other similar change in capitalization or event, or any distribution to holders of Common
Stock other than a regular cash dividend, the number and class of securities available under this Plan, the maximum number of shares of Common Stock with respect to which options, SARs, Stock Awards or Performance Share Awards or a combination
thereof may be awarded during any calendar year to any one person, the maximum number of shares of Common Stock that may be issued pursuant to Awards in the form of Incentive Stock Options, the number and class of securities subject to each
outstanding option and the purchase price per security, the terms of each outstanding SAR, the number and class of securities subject to each outstanding Stock Award, and the terms of each outstanding Performance Share shall be appropriately
adjusted by the Committee, such adjustments to be made in the case of outstanding options and SARs without an increase in the aggregate purchase price or base price. The decision of the Committee regarding any such adjustment shall be final, binding
and conclusive. If any such adjustment would result in a fractional security being (a) available under this Plan, such fractional security shall be disregarded, or (b) subject to an award under this Plan, the Company shall pay the holder
of such award, in connection with the first vesting, exercise or settlement of such award, in whole or in part, occurring after such adjustment, an amount in cash determined by multiplying (i) the fraction of such security (rounded to the
nearest hundredth) by (ii) the excess, if any, of (A) the Fair Market Value on the vesting, exercise or settlement date over (B) the exercise or base price, if any, of such award. 

  
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 5.8    Change in Control. 

(a)(1) Notwithstanding any provision in this Plan, unless otherwise set forth in the Agreement relating to the applicable award granted
hereunder, in the event of a Change in Control pursuant to Section (b)(3) or (4) below in connection with which the holders of Common Stock receive shares of common stock that are registered under Section 12 of the Exchange Act, there
shall be substituted for each share of Common Stock available under this Plan, whether or not then subject to an outstanding award, the number, type and class of shares into which each outstanding share of Common Stock shall be converted pursuant to
such Change in Control; provided that, in the event a Participant’s employment with the Company or any of its Subsidiaries or affiliates is terminated either by the Participant for Good Reason or by the Company or any of its Subsidiaries or
affiliates without Cause, in either case, within two years following such Change in Control, such Participant’s awards will be treated as follows: (i) all outstanding options and SARs shall immediately become exercisable in full,
(ii) the Restriction Period applicable to any outstanding Restricted Stock Award or Restricted Stock Unit shall lapse, (iii) the Performance Period applicable to any outstanding Performance Share shall lapse, and (iv) the Performance
Measures applicable to any outstanding Restricted Stock Award (if any), Restricted Stock Unit Award (if any) and to any outstanding Performance Share shall be deemed to be satisfied at the target level. In the event of any substitution contemplated
by this Section 5.8(a)(1), the purchase price per share in the case of an option and the base price in the cases of an SAR shall be appropriately adjusted by the Committee (whose determination shall be final, binding and conclusive), such
adjustments to be made in the case of outstanding options and SARs without an increase in the aggregate purchase price or base price. 

(2) Notwithstanding any provision in this Plan or any Agreement, in the event of a Change in Control pursuant to Section (b)(1) or
(2) below, or in the event of a Change in Control pursuant to Section (b)(3) or (4) below in connection with which the holders of Common Stock receive consideration other than shares of common stock that are registered under
Section 12 of the Exchange Act, each outstanding award shall be surrendered to the Company by the holder thereof, and each such award shall immediately be canceled by the Company, and the holder shall receive, within ten days of the occurrence
of a Change in Control a cash payment from the Company in an amount equal to (i) in the case of an option, the number of shares of Common Stock then subject to such option, multiplied by the excess, if any, of the greater of (A) the
highest per share price offered to stockholders of the Company in any transaction whereby the Change in Control takes place and (B) the Fair Market Value of a share of Common Stock on the date of occurrence of the Change in Control, over the
purchase price per share of Common Stock subject to the option, (ii) in the case of a Free-Standing SAR, the number of shares of Common Stock then subject to such SAR, multiplied by the excess, if any, of the greater of (A) the highest per
share price offered to stockholders of the Company in any transaction whereby the Change in Control takes place or (B) the Fair Market Value of a share of Common Stock on the date of occurrence of the Change in Control, over the base price of
the SAR, (iii) in the case of a Restricted Stock Award or Restricted Stock Unit Award, the number of shares of Common Stock then subject to such award, multiplied by the greater of (A) the highest per share price offered to stockholders of
the Company in any transaction whereby the Change in Control takes place and (B) the Fair Market Value of a share of Common Stock on the date of occurrence of the Change in Control or (iv) in the case of a Performance Share Award, the
target number of Performance Shares then subject to such award, multiplied by the greater of (A) the highest per share price offered to stockholders of the Company in any transaction whereby the Change in Control takes place and (B) the
highest Fair Market Value of a share of Common Stock during the 90-day period immediately preceding the date of the Change in Control. In the event of a Change in Control, each Tandem SAR shall be surrendered
by the holder thereof and shall be canceled simultaneously with the cancellation of the related option. The Company may, but is not required to, cooperate with any person who is subject to Section 16 of the Exchange Act to assure that any cash
payment in accordance with the foregoing to such person is not subject to recapture under Section 16 and the rules and regulations thereunder. 

(b) “Change in Control” shall mean: 

(1) the acquisition by any individual, entity or group (a “Person”), including any “person” within the meaning of
Section 13(d)(3) or 14(d)(2) of the Exchange Act, of beneficial ownership within the meaning of Rule 13d-3 promulgated under the Exchange Act, of 20% or more of either (i) the then outstanding
shares of common stock of the Company (the “ Outstanding Common Stock ”) or (ii) the combined voting power of the then 

  
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outstanding securities of the Company entitled to vote generally in the election of directors (the “ Outstanding Voting Securities ”); excluding, however, the following:
(A) any acquisition directly from the Company (excluding any acquisition resulting from the exercise of an exercise, conversion or exchange privilege unless the security being so exercised, converted or exchanged was acquired directly from the
Company), (B) any acquisition by the Company, (C) any acquisition by an employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (D) any acquisition by any
corporation pursuant to a transaction which complies with clauses (i), (ii) and (iii) of subsection (3) of this Section 5.8(b); provided further, that for purposes of clause (B), if any Person (other than the Company or any
employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company) shall become the beneficial owner of 20% or more of the Outstanding Common Stock or 20% or more of the Outstanding Voting
Securities by reason of an acquisition by the Company, and such Person shall, after such acquisition by the Company, become the beneficial owner of any additional shares of the Outstanding Common Stock or any additional Outstanding Voting Securities
and such beneficial ownership is publicly announced, such additional beneficial ownership shall constitute a Change in Control; 
 (2)
individuals who, as of the beginning of any consecutive two-year period constitute the Board of Directors (the “Incumbent Board”) cease for any reason to constitute at least a majority of such
Board; provided that any individual who subsequently becomes a director of the Company and whose election, or nomination for election by the Company’s stockholders, was approved by the vote of at least a majority of the directors then
comprising the Incumbent Board shall be deemed a member of the Incumbent Board; and provided further, that any individual who was initially elected as a director of the Company as a result of an actual or threatened solicitation by a Person other
than the Board for the purpose of opposing a solicitation by any other Person with respect to the election or removal of directors, or any other actual or threatened solicitation of proxies or consents by or on behalf of any Person other than the
Board shall not be deemed a member of the Incumbent Board; 
 (3) the consummation of a reorganization, merger or consolidation of the
Company or sale or other disposition of all or substantially all of the assets of the Company (a “Corporate Transaction ”); excluding, however, a Corporate Transaction pursuant to which (i) all or substantially all of the
individuals or entities who are the beneficial owners, respectively, of the Outstanding Common Stock and the Outstanding Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly, more than 50%
of, respectively, the outstanding shares of common stock, and the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from
such Corporate Transaction (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or indirectly) in substantially the same
proportions relative to each other as their ownership, immediately prior to such Corporate Transaction, of the Outstanding Common Stock and the Outstanding Voting Securities, as the case may be, (ii) no Person (other than: the Company; any
employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; the corporation resulting from such Corporate Transaction; and any Person which beneficially owned, immediately prior to
such Corporate Transaction, directly or indirectly, 15% or more of the Outstanding Common Stock or the Outstanding Voting Securities, as the case may be) will beneficially own, directly or indirectly, 25% or more of, respectively, the outstanding
shares of common stock of the corporation resulting from such Corporate Transaction or the combined voting power of the outstanding securities of such corporation entitled to vote generally in the election of directors and (iii) individuals who
were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction; or 

(4) the consummation of a plan of complete liquidation or dissolution of the Company. 

5.9    No Right of Participation or Employment. No person shall have any right to participate in this Plan.
The Committee’s selection of a person to participate in this Plan at any time shall not require the Committee to select such person to participate in this Plan at any other time. Neither this Plan nor any award made hereunder shall confer upon
any person any right to continued employment by the Company, any Subsidiary or any affiliate of the Company or affect in any manner the right of the Company, any Subsidiary or any affiliate of the Company to terminate the employment of any person at
any time without liability hereunder. 

  
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 5.10    Rights as Stockholder. No person shall have any
right as a stockholder of the Company with respect to any shares of Common Stock or other equity security of the Company which is subject to an award hereunder unless and until such person becomes a stockholder of record with respect to such shares
of Common Stock or equity security. 
 5.11    Stock Certificates. To the extent that this Plan provides
for issuance of certificates to reflect the issuance of shares of Common Stock, the issuance may be affected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of the New York Stock Exchange. 

5.12    Governing Law. This Plan, each award hereunder and the related Agreement, and all determinations
made and actions taken pursuant thereto, to the extent not otherwise governed by the Code or the laws of the United States, shall be governed by the laws of the State of Delaware and construed in accordance therewith without giving effect to
principles of conflicts of laws. 
 5.13    Foreign Employees. Without amending this Plan, the Committee
may grant awards to eligible persons who are foreign nationals or who reside outside the U.S. on such terms and conditions different from those specified in this Plan as may in the judgment of the Committee be necessary or desirable to foster and
promote achievement of the purpose of this Plan and, in furtherance of such purpose, the Committee may make such modifications, amendments, procedures, subplans and the like as may be necessary or advisable to comply with provisions of laws in other
countries or jurisdictions in which the Company or any of its Subsidiaries operates or has employees. 

  
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