Document:

CEI 2011 Form 10K Exhibit 10.56

EXHIBIT 10.56

TENTH AMENDMENT TO CREDIT AGREEMENT

This TENTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into, as of January 5, 2012, by Cheniere Common Units Holding, LLC, a Delaware limited liability company (the “Borrower”), the Loan Parties, the Lenders and The Bank of New York Mellon, as administrative agent (in such capacity and together with its successors, the “Administrative Agent”) and as collateral agent (in such capacity and together with its successors, the “Collateral Agent”).

All capitalized terms used in this Amendment and not otherwise defined herein have the meanings ascribed to such terms in the Credit Agreement (as defined below). 

Preliminary Statements

		
	A.
	The Borrower has entered into that certain Credit Agreement, dated as of August 15, 2008, by and among the Borrower, 

the Administrative Agent, certain affiliates of the Borrower signatory thereto and the Lenders from time to time party thereto, as amended by that certain First Amendment to Credit Agreement, dated as of September 15, 2008, Second Amendment to Credit Agreement, dated as of December 31, 2008, Third Amendment to Credit Agreement, dated as of April 3, 2009, Fourth Amendment to Credit Agreement, dated as of April 9, 2009, Amendment No. Four-A to Credit Agreement, dated as of April 27, 2009, Amendment No. Four-B to Credit Agreement, dated as of April 28, 2009, Amendment No. Four- C to Credit Agreement, dated as of June 23, 2009, Amendment No. Four-D to Credit Agreement, dated as of June 29, 2009, Fifth Amendment to Credit Agreement, dated as of September 17, 2009, Sixth Amendment to Credit Agreement, dated as of June 24, 2010, Seventh Amendment to Credit Agreement, dated as of November 3, 2010, Eighth Amendment to Credit Agreement, dated as of December 9, 2010, and Ninth Amendment to Credit Agreement, dated as of September 13, 2011, as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”;

		
	B.
	The Borrower has notified the Administrative Agent, the Collateral Agent and the Lenders that it desires to amend the Credit Agreement as set forth herein; and

 
		
	C.
	Subject to certain conditions as set forth herein, the Administrative Agent, the Collateral Agent and the Lenders are willing to agree to the amendments to the Credit Agreement as set forth herein.

NOW THEREFORE, in consideration of the premises and the agreements and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, the Loan Parties, the Administrative Agent, the Collateral Agent and the Lenders hereby agree as follows:

1.Amendments to Credit Agreement. Subject to the satisfaction of each of the conditions referred to in Section 3 hereof, 
the Credit Agreement is amended as follows:

1.1.Amendment to Section 1.01 (Definitions). Section 1.01 of the Credit Agreement is amended as follows:

1.1.1.Section 1.01 of the Credit Agreement is amended by adding the following new definitions in proper 
alphabetical sequence: 

“January 2012 Interest Payment” shall have the meaning assigned to such term in the definition of “Interest Payment Date”. 

“Tenth Amendment” shall mean that certain Tenth Amendment to Credit Agreement, dated as of January 5, 2011, among the Borrower, certain affiliates of the Borrower signatory thereto, the Administrative Agent, the Collateral Agent and the Lenders party thereto. 

“Tenth Amendment Effective Date” shall mean the date of satisfaction, or waiver by each of the Lenders, of the conditions referred to in Section 3 of the Tenth Amendment.

1.1.2.     The definition of “Interest Payment Date” in Section 1.01 of the Credit Agreement is restated in its 
entirety to read as follows: 

““Interest Payment Date” shall mean, as to any Loan, (a) the last Business Day of each January and July to occur while such Loan is outstanding, (b) the Maturity Date, (c) the date of repayment or prepayment made in respect thereof and (d) the date of exchange of such Loan pursuant to Section 2.13 (other than, in the case of clause (d), Permitted Accrued Interest in respect of Loans exchanged other than pursuant to Section 2.08, which shall be an Interest Payment Date); provided, however, that notwithstanding the foregoing or anything to the contrary in Section 2.05 or any other provision herein, all interest that would otherwise be payable on the Interest Payment Date that would occur on the last Business Day of January 2012 pursuant to the foregoing clause (a) (the “January 2012 Interest Payment”) shall instead be payable on the Tenth Amendment Effective Date and all Permitted Accrued Interest that would otherwise begin bearing interest on the last Business Day of January 2012 pursuant to Section 2.05(b) shall instead being bearing interest on the Tenth Amendment Effective Date.”

1.2.     Amendment to Section 6.04 (Investments, Loans and Advances). Section 6.04 of the Credit Agreement is 
amended as follows:

1.2.1.     Section 6.04(f) of the Credit Agreement is restated in its entirety to read as follows:

“(f)     (i) Investments in an amount not to exceed $30,000,000 made by CEI with respect to 
repurchasing certain of the notes issued pursuant to the CEI Indenture, (ii) Investments made by a Loan 
Party on or prior to May 31, 2012 arising as a result of the purchase of all or any portion of the loans 
issued pursuant to the 

            

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CSH Credit Agreement, provided that any such loans are held by such Loan Party until 
cancellation and such loans are cancelled on or prior to May 31, 2012 and (iii) at any time following 
the Minimum Loan Balance Trigger Date, Investments arising as a result of the purchase of all or any 
portion of the loans or notes, as applicable, issued pursuant to the CEI Indenture;”

1.2.2.     Section 6.04(g) of the Credit Agreement is restated in its entirety to read as follows:

“(g)     Investments in CSH made on or prior to May 31, 2012, which are contemporaneously used 
to prepay amounts outstanding under the CSH Credit Agreement as permitted by Section 6.16(c); and”

1.2.3.     Section 6.04 of the Credit Agreement is amended by (i) deleting “and” at the end of clause (g), (ii) 
replacing the period at the end of clause (h) with “; and” and (iii) inserting the following new clause 
(i):

(i)     Investments in an amount not to exceed $20,000,000 consisting of loans to Corpus Christi
Liquefaction, LLC that are evidenced by the Global Intercompany Note.

1.3.     Amendment to Section 6.16 (Modification of Other Indebtedness). Section 6.16 of the Credit Agreement is 
amended as follows:

1.3.1.     Section 6.16(b) of the Credit Agreement is restated in its entirety to read as follows:

“(b)     Except as provided in Section 6.16(c) below, no Loan Party shall, or shall permit its Subsidiaries 
to, voluntarily prepay any amounts outstanding under the Sabine Notes or the CEI Indenture prior to 
their respective maturity dates, other than pursuant to a refinancing pursuant to Section 6.01(m) and, 
in the case of the CEI Indenture, as permitted pursuant to Section 6.04(f).”

1.3.2.     Section 6.16(c) of the Credit Agreement is restated in its entirety to read as follows:

“(c)     (i) On or prior to May 31, 2012, the Loan Parties and their Subsidiaries may repay all or any 
part of the amounts outstanding under the CSH Credit Agreement, and may exchange all or a part of 
such Indebtedness for Common Stock, provided that any amounts repaid under the CSH Credit 
Agreement shall (A) be immediately cancelled upon repayment or (B) held by the Loan Parties and 
their Subsidiaries until cancellation and cancelled on or prior to May 31, 2012, and (ii) at any time 
following the Minimum Loan Balance Trigger Date, the Loan Parties and their Subsidiaries may repay 
all or any part of the amounts outstanding under the CEI Indenture, and may exchange all or a part of 
such Indebtedness for Common Stock.”

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2.     Representations and Warranties. Each Loan Party hereby represents and warrants to the Administrative Agent, the 
Collateral Agent and the Lenders, which representations and warranties shall survive the execution and delivery of this 
Amendment, as follows:

2.1.     Absence of Defaults.  No event has occurred and is continuing or will result from the consummation of the 
transactions contemplated by this Amendment that would constitute a Default or Event of Default after giving 
effect to this Amendment.

2.2.     Enforceability.  This Amendment has been duly executed and delivered by such Loan Party and constitutes a 
legal, valid and binding obligation of such Loan Party enforceable against such Loan Party in accordance with 
its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting 
creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a 
proceeding in equity or at law.

2.3.     Authorization, No Conflicts.  The execution, delivery and performance of this Amendment by each Loan Party 
(i) has been duly authorized by all requisite organizational action of such Person and (ii) will not (A) violate (1) 
any provision of law, statute, rule or regulation, or of the certificate or articles of incorporation or other constitutive 
documents or by-laws of such Person, (2) any order of any Governmental Authority or arbitrator or (3) any 
provision of any indenture, agreement or other instrument to which such Person is a party or by which it or any 
of its property is or may be bound, (B) be in conflict with, result in a breach of or constitute (alone or with notice 
or lapse of time or both) a default under, or give rise to any right to accelerate or to require the prepayment, 
repurchase or redemption of any obligation under any such indenture, agreement or other instrument or (C) 
result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or 
hereafter acquired by such Person (other than Liens created under the Security Documents).

2.4.     Incorporation of Representations and Warranties.  The representations and warranties contained in Article III of 
the Credit Agreement are and will be true and correct in all material respects on and as of the date hereof to the 
same extent as though made on and as of this date, except to the extent such representations and warranties 
specifically relate to an earlier date, in which case they were true and correct in all material respects on and as 
of such earlier date.

3.     Effectiveness.  The effectiveness of this Amendment and the amendments to the Credit Agreement set forth in Section 1 
hereof are each subject to the satisfaction of all the following conditions precedent:

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3.1.     Execution.  The Administrative Agent shall have received duly executed and delivered counterparts of this 
Amendment that, when taken together, bear the signatures of the Loan Parties, the Lenders, the Administrative 
Agent and the Collateral Agent.

3.2.     Representations and Warranties.  The representations and warranties contained herein shall be true and correct 
in all respects.

3.3.     Necessary Consents. Each Loan Party shall have obtained all material consents necessary or advisable in 
connection with the transactions contemplated by this Amendment.

3.4.     Interest Payment. The Lenders shall have received the January 2012 Interest Payment.

3.5.     Amendment Fee. The Administrative Agent shall have received, for the account of each Lender party hereto, a 
non-refundable amendment fee equal to 0.25% of the aggregate principal amount of the Loans held by such 
Lender as of the Tenth Amendment Effective Date.

3.6.     Fees.  All fees and expense reimbursement payable by the Borrower to the Administrative Agent, the Collateral 
Agent and the Lenders for which invoices have been presented shall have been paid in full. Notwithstanding 
anything to the contrary in this Amendment, each Lender by delivering its signature page to this Amendment 
hereby authorizes and directs the Agents to execute and deliver this Amendment and shall be deemed to have 
acknowledged receipt of and consented to and approved the Amendment and each other document required 
hereunder to be approved by any Agent or any Lender, as applicable, on the date such Lender delivers its signature 
to this Amendment and each of the Agents shall be entitled to rely on such confirmation.

4.     Reference to and Effect Upon the Loan Documents.

4.1.     Except as specifically set forth above, the Credit Agreement and each other Loan Document shall remain in full 
force and effect and is hereby ratified and confirmed. Except to the extent expressly set forth herein, the execution, 
delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of 
Agents or any Lender under the Loan Documents, or any other document, instrument or agreement executed 
and/or delivered in connection therewith.

4.2.     Any reference in any Loan Document to the Credit Agreement shall be a reference to the Credit Agreement as 
modified by this Amendment, and any reference in any Loan Document to any other Loan Document shall be 
a reference to such referenced Loan Document as modified by this Amendment.

4.3.     This Amendment is a Loan Document. The provisions of Section 9.15 of the Credit Agreement shall apply with 
like effect to this Amendment. 

5.     Further Assurances. Each Loan Party hereby agrees to authorize, execute and deliver all additional instruments, 
certificates, financing statements, agreements or documents, and take all such actions as the Administrative Agent, the Collateral Agent or the Lenders may reasonably request for the purposes of implementing or effectuating the provisions of this Amendment.

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6.     Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH 
THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES 
THEREOF.

7.     Headings.  Section headings in this Amendment are included herein for convenience of reference only and shall not 
constitute part of this Amendment for any other purposes.

8.     Counterparts.  This Amendment may be executed by all parties hereto in any number of separate counterparts each of 
which may be delivered in original, facsimile or other electronic (e.g., “.pdf”) form, and all of such counterparts taken 
together constitute one instrument.

9.     Severability.  In case any one or more of the provisions contained in this Amendment shall for any reason be held to be 
invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other 
provision hereof, and this Amendment shall be construed as if such invalid, illegal, or unenforceable provision had
never been contained herein.

10.     WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY 
WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AMENDMENT OR 
ANY OTHER LOAN DOCUMENTS AND FOR ANY COUNTERCLAIM THEREIN.

11.     Final Agreement of the Parties. THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN 
DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE 
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS 
OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

12.     Each of the parties hereto acknowledges and agrees that the Administrative Agent and the Collateral Agent shall be 
afforded all of the rights, privileges, protections, indemnities and immunities afforded to it under the Credit Agreement 
in connection with its execution of this Amendment and the performance of its obligations hereunder.

[Remainder of this page intentionally left blank]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.

	
					
	 
	 
	CHENIERE COMMON UNITS HOLDING, LLC, as Borrower

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE CORPUS CHRISTI PIPELINE, L.P., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE CREOLE TRAIL PIPELINE, L.P., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE ENERGY OPERATING CO., INC., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE MIDSTREAM HOLDINGS, INC., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE PIPELINE COMPANY, as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE PIPELINE GP INTERESTS, LLC, as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE SOUTHERN TRAIL GP, INC., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE SOUTHERN TRAIL PIPELINE, L.P., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	GRAND CHENIERE PIPELINE, LLC, as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE ENERGY SAHRED SERVICES, INC., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE ENERGY, INC., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE LNG HOLDINGS, LLC, as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE LNG O&M SERVICES, LLC, as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE LNG TERMINALS, INC., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	CHENIERE LNG, INC., as a Loan Party

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  GRAHAM A. MCARTHUR

	 
	 
	 
	Name:
	Graham A. McArthur

	 
	 
	 
	Title
	Treasurer

	
					
	 
	 
	LENDERS:

	
					
	 
	 
	GSO SPECIAL SITUATIONS FUND, LP, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	GSO Capital Partners LP, its investment advisor

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  MARISA BEENEY

	 
	 
	 
	Name:
	Marisa Beeney

	 
	 
	 
	Title
	Authorized Signatory

	
					
	 
	 
	GSO COF FACILITY LLC, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	GSO Capital Partners LP, as Portfolio Manager

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  MARISA BEENEY

	 
	 
	 
	Name:
	Marisa Beeney

	 
	 
	 
	Title
	Authorized Signatory

	
					
	 
	 
	GSO SPECIAL SITUATIONS OVERSEAS MASTER FUND, LTD, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	GSO Capital Partners LP, its investment advisor

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  MARISA BEENEY

	 
	 
	 
	Name:
	Marisa Beeney

	 
	 
	 
	Title
	Authorized Signatory

	
					
	 
	 
	BLACKSTONE DISTRESSED SECURITIES FUND, LP, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	Blackstone Distressed Securities Advisors L.P., its investment manager

	 
	 
	 
	 
	 

	 
	 
	By:
	Blackstone DD Associates, L.L.C., its general partner

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  MARISA BEENEY

	 
	 
	 
	Name:
	Marisa Beeney

	 
	 
	 
	Title
	Authorized Signatory

	
					
	 
	 
	INVESTMENT PARTNERS II (A), LLC, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	Blackrock Financial Management, Inc., its investment manager

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  DAVID MATTER

	 
	 
	 
	Name:
	David Matter

	 
	 
	 
	Title
	Managing Director

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  LAWRENCE M. GAIL

	 
	 
	 
	Name:
	Lawrence M. Gail

	 
	 
	 
	Title
	Managing Director

	
					
	 
	 
	SCORPION CAPITAL PARTNERS, LP, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	Scorpion GP, LLC

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  KEVIN R. MCCARTHY

	 
	 
	 
	Name:
	Kevin R. McCarthy

	 
	 
	 
	Title
	Manager

	
					
	 
	 
	THE BANK OF NEW YORK MELLON, solely as Administrative Agent and Collateral Agent under the Credit Agreement and the other Loan Documents

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/  MELINDA VALENTINE

	 
	 
	 
	Name:
	Melinda Valentine

	 
	 
	 
	Title
	Vice PresidentCEI 2011 Form 10K Exhibit 10.93

EXHIBIT 10.93

Summary of Compensation for Executive Officers

The executive officers of Cheniere Energy, Inc. ("Cheniere" or “Company”) are "at will" employees and none of them has an employment or severance agreement except, as noted below, in limited circumstances with respect to local foreign practice where employment agreements are required under the laws of foreign countries where an executive officer works.  The written and unwritten arrangements under which Cheniere's executive officers are compensated include:

		
	•
	a base salary, reviewed annually by the Compensation Committee of the Board of Directors of Cheniere (the “Compensation Committee”);

		
	•
	an annual incentive award or bonus award determined annually by the Compensation Committee; 

		
	•
	eligibility for awards under Cheniere's Amended and  Restated  2003 Stock Incentive Plan, as amended (the “2003 Plan”), and Cheniere's 2011 Incentive Plan, each as determined by the Compensation Committee; 

		
	•
	a broad-based benefits package offered to all employees, including vacation, paid sick leave, a tax-qualified 401(k) savings plan pursuant to which Cheniere matches 100% up to the lesser of 5% of salary deferrals or the maximum deferrals permitted by law, medical, dental and vision benefits as well as a Section 125 Cafeteria Plan and health reimbursement arrangements and short-term and long-term disability, basic life insurance equal to two times base salary, and voluntary life (elective) insurance and accidental death and dismemberment insurance; and

		
	•
	a Change of Control Agreement which provides that, upon a Change of Control (as defined in the Change of Control Agreement), the executive officer shall receive a payment in an amount equal to one times the executive officer's base salary at or immediately prior to the time the Change of Control is consummated.

The following table sets forth the 2012 annual base salary, 2011 cash bonus award and 2011 long-term incentive award for each of the Company's named executive officers as disclosed in the Company's 2012 Proxy Statement:
	
							
	Named Executive Officer
	2012 Annual 
Base Salary
	2011 Cash Bonus Award
	Number of Shares of Restricted Stock

	Charif Souki
Chairman, Chief Executive Officer and President
	771,580
	

	2,326,900
	

	398,000
	

	Meg A. Gentle
Senior Vice President and Chief Financial Officer 
	292,370
	

	775,600
	

	150,000
	

	Jean Abiteboul
Senior Vice President - International
	311,387 (1)
	

	581,700 (2)
	

	75,000
	

	H. Davis Thames
Senior Vice President - Marketing
	292,370
	

	775,600
	

	135,000
	

	Greg W. Rayford
Senior Vice President and General Counsel
	292,370
	

	581,700
	

	___ (3)
	

	
					
	 
	 
	 
	 
	 

		
	(1)
	The 2012 base salaries were effective on January 16, 2012 for all of the executive officers.  Mr. Abiteboul's base salary is calculated based on Euros pursuant to his employment agreement.  The amount reported in the table represents the U.S. dollar equivalent of Mr. Abiteboul's base salary in the amount of 245,560 Euros based on the January 16, 2012 exchange rate of 1 USD to 0.7886 EUR.

		
	(2)
	Mr. Abiteboul's annual bonus award is paid in British Pounds Sterling pursuant to his U.K. secondment arrangement.  The amount reported in the table represents the U.S. dollar equivalent of Mr. Abiteboul's 2011 annual bonus award in the amount of 373,917 GBP based on the January 24, 2012 exchange rate of 1 USD to 0.6428 GBP.

		
	(3)
	Mr. Rayford began his employment with the Company on March 1, 2011 and he did not receive a 2011 long-term incentive award.

The 2011 cash bonus awards included in the table above were paid to the named executive officers on January 27, 2012.  The shares of restricted stock included in the table above were granted as the named executive officers' 2011 long-term incentive award on January 14, 2011, and vest in three equal annual installments. The first tranche of restricted stock vested on June 30, 2011.  The second tranche will vest on June 30, 2012 and the third tranche will vest on June 30, 2013.  
Compensatory Arrangements for Certain Executive Officers 
On June 30, 2009, the independent members of the Board of Directors approved a U.K. assignment letter for Mr. Souki effective as of July 1, 2009 so that he is able to spend a portion of his time working from London to more effectively conduct international business for the Company.  The Company pays Mr. Souki an annual allowance for the cost of housing and living expenses in the U.K. pursuant to the assignment letter.  In April 2010, the Compensation Committee approved an amendment to Mr. Souki's U.K. assignment letter to extend the term of his assignment to July 1, 2011, and increase the amount of his annual allowance to cover the cost of housing and living expenses in London to $200,000.  See the description of Mr. Souki's U.K. assignment letter and U.K. letter agreement amendment included in the Company's Current Report on Forms 8-K (SEC File No. 001-16383), filed on July 2, 2009 and April 27, 2010, respectively, which are incorporated herein by reference.  Mr. Souki's U.K. assignment letter expired in June 2011; however, the Compensation Committee approved Mr. Souki's annual housing and living allowance in the amount of $200,000 for the duration of Mr. Souki's stay in the U.K.  
Jean Abiteboul, located in our French office, has an employment agreement with Cheniere's French subsidiary.  Mr. Abiteboul's employment agreement is for an unlimited term and may be terminated by our French subsidiary or Mr. Abiteboul upon three months' prior notice.  In addition, in April 2010, the Compensation Committee approved an amendment to Mr. Abiteboul's employment agreement to provide for a secondment arrangement, pursuant to which Mr. Abiteboul is seconded to the Company's London office for the purposes of pursuing LNG customers for the Company.  Various costs of Mr. Abiteboul's secondment are covered pursuant to the secondment arrangement, including Mr. Abiteboul's temporary housing costs in the U.K.  Mr. Abiteboul's secondment may be terminated by the Company or Mr. Abiteboul upon two months' prior notice.  All other terms of Mr. Abiteboul's employment agreement remain unchanged and he will return to his previous role pursuant to his employment agreement at the end of his secondment.  See the description of Mr. Abiteboul's U.K. secondment arrangement included in the Company's Current Report on Form 8-K (SEC File No. 001-16383), filed on April 27, 2010, which is incorporated herein by reference.

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