Document:

EX-4.4

 Exhibit 4.4 

CONTRIBUTION AND DISTRIBUTION AGREEMENT 

This contribution and distribution agreement (this “Agreement”) is entered into as of November 10, 2021, by and between
StealthGas Inc., a Marshall Islands corporation (“StealthGas”), and Imperial Petroleum Inc., a Marshall Islands corporation (“Imperial Petroleum”). The foregoing shall be referred to individually as a
“Party” and collectively as the “Parties.” 
 RECITALS 

 

	A.	 StealthGas intends to transfer a portion of its fleet comprising its tankers to a wholly-owned subsidiary,
which subsidiary will subsequently be spun off to current shareholders of StealthGas (the “Spin-Off”). Concurrently with the Spin-Off, StealthGas
intends to list the shares of the subsidiary to be spun off on the Nasdaq Capital Market.

 B. To accomplish the objectives and purposes in
the preceding recital, the following actions have been taken prior to the date of this Agreement: 
  

	 	(1)	 StealthGas formed Imperial Petroleum pursuant to the Marshall Islands Business Corporation Act and contributed
$1,000 in exchange for all of the outstanding shares of Imperial Petroleum; 

  

	 	(2)	 StealthGas owns all of the outstanding shares (the “Vessel-Owning Subsidiary Shares”) of
(a) Clean Power Inc. (“CPI”), which owns the MR tanker vessel Magic Wand, (b) MR. Roi Inc. (“MRRI”), which owns the MR tanker vessel Clean Thrasher, (c) King of Hearts Inc.
(“KHI”), which owns the MR tanker vessel Falcon Maryam and (d) Tankpunk Inc. (“TankPunk” and, together, with CPI, MRRI and KHI, the “Vessel-Owning Subsidiaries”), which owns the tanker
Stealth Berana (the Magic Wand, the Clean Thrasher, the Falcon Maryam and the Stealth Berana, collectively, the “Vessels”). 

C. Each of the following transactions shall occur in accordance with and pursuant to this Agreement: 

(1) StealthGas will contribute all of the Vessel-Owing Subsidiary Shares to Imperial Petroleum as a capital contribution in exchange for 4,774,772 shares of
common stock, par value $0.01 per share, of Imperial Petroleum (the “Imperial Petroleum Common Shares”) and 795,878 shares of 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.01 per share, of
Imperial Petroleum with a liquidation preference of $25.00 per share and the other terms set forth in the Statement of Designation, substantially in the form attached hereto as Exhibit A (the “Imperial
Petroleum Preferred Shares” and, together with the Imperial Petroleum Common Shares, the “Imperial Petroleum Shares”); 
  

	(2)	 Imperial Petroleum, as guarantor, and its subsidiaries, as borrowers, will enter into, and draw down
$28.0 million under, a new senior secured term loan facility with DNB (the “IP Senor Secured Loan”) and pay a portion of such amount to StealthGas as a dividend; 

 

	(3)	 StealthGas will distribute the Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares to its
shareholders pro rata as a special dividend (the “Distribution”); and 

  

	(4)	 The articles of incorporation and bylaws of the aforementioned entities will be amended and restated to the
extent necessary to reflect the applicable matters set forth above and in Article I of this Agreement, to the extent required. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of their mutual undertakings and agreements hereunder, the Parties undertake and agree as follows: 

  
 1 

 ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. As used in this Agreement, the following terms shall have the meanings set forth below: 

“Action” means any claim, demand, action, cause of action, suit, countersuit, arbitration, litigation, inquiry, proceeding or
investigation by or before any Governmental Authority or any arbitration or mediation tribunal or authority. 
 “Affiliate”
means, with respect to any specified Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with, such specified
Person; provided, however, that for purposes of this Agreement, no member of either Group shall be deemed to be an Affiliate of any member of the other Group. As used herein, “control” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through ownership of voting securities or other interests, by contract or otherwise. 

“Agreement” means this Agreement, as the same may be modified, amended or supplemented from time to time. 

“Asset” means any right, property or asset, whether real, personal or mixed, tangible or intangible, of any kind, nature and
description, whether accrued, contingent or otherwise, and wheresoever situated and whether or not carried or reflected, or required to be carried or reflected, on the books of any Person. 

“Consents” means any consents, waivers, notices, reports or other filings to be made, or any registrations, licenses,
permits, authorizations to be obtained from, or approvals from, or notification requirements to, any third parties, including any Governmental Authority. 

“Contribution” has the meaning assigned to such term in the Recitals hereto. 

“Distribution” has the meaning assigned to such term in the Recitals hereto. 

“Distribution Agent” means American Stock Transfer & Trust Company LLC. 

“Distribution Agent Agreement” has the meaning assigned to such term in Section 3.1(b). 

“Distribution Date” means the date on which the Distribution shall be effected, such date to be determined by, or under the
authority of, the Board of Directors of StealthGas in its sole and absolute discretion. 
 “Effective Time” means the time
at which the Distribution occurs on the Distribution Date. 
 “Exchange Act” means the United States Securities Exchange
Act of 1934, as amended, together with the rules and regulations promulgated thereunder. 
 “Governmental Authority” means
any federal, state, local, foreign or international court, government, department, commission, board, bureau or agency, or any other regulatory, self-regulatory, administrative or governmental organization or authority, including the Nasdaq Stock
Market. 
 “Law” means any applicable foreign, federal, national, state, provincial or local law (including common law),
statute, ordinance, rule, regulation, code or other requirement enacted, promulgated, issued or entered into, or act taken, by a Governmental Authority. 

“Imperial Petroleum” has the meaning assigned to such term in the Preamble hereto. 

“Imperial Petroleum Articles of Incorporation” means the Amended and Restated Articles of Incorporation of Imperial Petroleum
substantially in the form of Exhibit B hereto. 

  
 2 

 “Imperial Petroleum Bylaws” means the Bylaws of Imperial Petroleum
substantially in the form of Exhibit C hereto. 
 “Imperial Petroleum Cash Dividend” means (i) the
borrowing of $28.0 million under the new credit facility to be entered into by Imperial Petroleum, as guarantor, as its subsidiaries, as borrowers, as described in the Registration Statement and (ii) the distribution of a portion of the
proceeds of such borrowing in one or more transactions. 
 “Imperial Petroleum Common Shares” has the meaning assigned to
such term in the Recitals hereto. 
 “Imperial Petroleum Preferred Shares” has the meaning assigned to such term in the
Recitals hereto. 
 “Imperial Petroleum Shares” has the meaning assigned to such term in the Recitals hereto. 

“IP Senior Secured Loan” has the meaning assigned to such term in the Recitals hereto. 

“Nasdaq” means the Nasdaq Stock Market LLC. 

“Parties” has the meaning assigned to such term in the Preamble hereto. 

“Person” means any natural person, corporation, general or limited partnership, limited liability company or partnership,
joint stock company, joint venture, association, trust, bank, trust company, land trust, business trust or other organization, whether or not a legal entity, and any Governmental Authority. 

“Prospectus” means the final prospectus contained in the Registration Statement and filed with the SEC under Rule 424(b).

 “Pre-Distribution Transactions” means, collectively, the Contribution and the
Imperial Petroleum Cash Dividend. 
 “Record Date” means the date to be determined by the Board of Directors of StealthGas
as the record date for determining stockholders of StealthGas entitled to receive Imperial Petroleum Shares pursuant to the Distribution. 

“Registration Statement” means the Registration Statement on Form F-1 of Imperial
Petroleum relating to the registration under the Securities Act of Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares, including any amendments or supplements thereto. 

“SEC” means the United States Securities and Exchange Commission. 

“Securities Act” means the U.S. Securities Act of 1933, as amended. 

“StealthGas” has the meaning assigned to such term in the Preamble hereto. 

“StealthGas Common Stock” has the meaning assigned to such term in the Recitals hereto. 

. 

“Subsidiary” means, with respect to any Person, any other Person of which a Person (either alone or through or together with
any other Subsidiary of such Person) owns, directly or indirectly, a majority of the stock or other equity interests the holders of which are generally entitled to vote for the election of the board of directors or other governing body of such
corporation or other legal entity. 
 “Vessels” has the meaning assigned to such term in the Recitals hereto. 

“Vessel-Owning Subsidiaries” has the meaning assigned to such term in the Recitals hereto. 

“Vessel-Owning Subsidiary Shares” has the meaning assigned to such term in the Recitals hereto. 

  
 3 

 ARTICLE II 

THE PRE-DISTRIBUTION TRANSACTIONS 

Section 2.1 Contributions and Specific Conveyances. On the applicable dates specified below and in any case on or prior to
the Distribution Date (and prior to the Imperial Petroleum Cash Dividend and the Distribution), and subject to satisfaction or waiver of the conditions set forth in Section 2.3, the Parties acknowledge and agree that the following actions
hereby occur in the following order: 
  

	 	(a)	 Contribution on the date of this Agreement by StealthGas of all right, title and interest in the Vessel-Owning
Subsidiary Shares to Imperial Petroleum free and clear of all liens and encumbrances as a capital contribution; 

  

	 	(b)	 Delivery by Imperial Petroleum (i) of 4,774,772 Imperial Petroleum Common Shares to StealthGas on the date
of this Agreement and (ii) of 795,878 Imperial Petroleum Preferred Shares to StealthGas on or prior to the Distribution Date, each in exchange for StealthGas’s capital contribution of all right, title and interest in the Vessel-Owning
Subsidiary Shares to Imperial Petroleum pursuant to Section 2.1(a) of this Agreement; and such Imperial Petroleum Shares owned by StealthGas will constitute all of the issued and outstanding capital stock of Imperial Petroleum; and

  

	 	(c)	 To further evidence the transfer of the Imperial Petroleum Shares or the Vessel-Owning Subsidiary Shares
reflected in this Agreement, each party making such transfer will have, to the extent necessary, executed and delivered to the party receiving the Imperial Petroleum Shares or Vessel-Owning Subsidiary Shares, as applicable, certain conveyance,
stock transfer form, assignment and bill of sale instruments (the “Specific Conveyances”). The Specific Conveyances shall evidence and perfect such transfer made by this Agreement and shall not constitute a second conveyance of any
assets or interests therein and shall be subject to the terms of this Agreement. 

  

	 	(d)	 On or prior to the Distribution Date, Imperial Petroleum will, and will cause its applicable subsidiaries to,
enter into and execute a management agreement with Stealth Maritime Corporation S.A. for administrative, commercial and technical management services, substantially in the form attached hereto as Exhibit D, which shall
have an initial term expiring on December 31, 2025 and otherwise be on substantially the same terms, including the same fee levels, as the existing management agreement between StealthGas and Stealth Maritime Corporation S.A.

 Section 2.2 Imperial Petroleum Cash Dividend. On the date of this Agreement (and in any case prior to
the Distribution Date and the Distribution) and subject to the satisfaction or waiver of the conditions set forth in Sections 2.1 and 2.3, Imperial Petroleum shall effect the Imperial Petroleum Cash Dividend and StealthGas shall apply the proceeds
it receives from the Imperial Petroleum Cash Dividend to repay the amounts outstanding under any loans collateralized by the Vessels or the Vessel-Owning Subsidiary Shares and other assets of the Vessel-Owning Subsidiaries. 

Section 2.3 Conditions Precedent to Consummation of the Pre-Distribution
Transactions. The obligations of the Parties to consummate each of the Pre-Distribution Transactions is subject to the prior or simultaneous satisfaction, or waiver by StealthGas in its sole and absolute
discretion, of each of the following conditions: 
 (a) final approval of each of the
Pre-Distribution Transactions shall have been given by the Board of Directors of StealthGas in its sole and absolute discretion; and 

Each of the foregoing conditions is for the benefit of StealthGas and StealthGas may, in its sole and absolute discretion, determine whether to waive any such
condition. Any determination made by StealthGas prior to any of the Pre-Distribution Transactions concerning the satisfaction or waiver of any or all of the conditions set forth in this Section 2.3 shall
be conclusive and binding on the Parties. 

  
 4 

 ARTICLE III 

THE DISTRIBUTION 

Section 3.1 Actions Prior to the Distribution. Subject to the satisfaction or waiver of the conditions set forth in
Section 3.3, the actions set forth in this Section 3.1 shall be taken prior to the Distribution Date. 
 (a) The Board of
Directors of StealthGas shall establish the Distribution Date and any appropriate procedures in connection with the Distribution. StealthGas and Imperial Petroleum shall use commercially reasonable efforts to (i) cooperate with each other with
respect to the preparation of the Registration Statement on Form F-1 relating to the registration under the Securities Act of Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares, including
any amendments or supplements thereto, (ii) cause the Registration Statement to become effective under the Securities Act, and (iii) mail, promptly after effectiveness of the Registration Statement and on or promptly after the Record Date,
and in any event prior to the Distribution Date, to the holders of StealthGas Common Stock as of the Record Date, the Prospectus. 
 (b)
StealthGas shall enter into a distribution agent agreement (the “Distribution Agent Agreement”) with the Distribution Agent providing for, among other things, (i) the payment of the Distribution to the holders of StealthGas
Common Stock in accordance with this Article III and the Distribution Agent Agreement, and (ii) the designation of Imperial Petroleum as a third party beneficiary. 

(c) StealthGas and Imperial Petroleum shall deliver to the Distribution Agent (i) book-entry transfer authorizations for all of the
outstanding shares of Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares to be distributed in connection with the payment of the Distribution and (ii) all information required to complete the Distribution on the basis set
forth herein and under the Distribution Agent Agreement. Following the Distribution Date, upon the request of the Distribution Agent, Imperial Petroleum shall provide to the Distribution Agent book-entry transfer authorizations of Imperial Petroleum
Common Stock that the Distribution Agent shall require in order to further effect the Distribution. 
 (d) Each of StealthGas and Imperial
Petroleum shall execute and deliver to the other Party, or cause the appropriate members of its Group to execute and deliver to the other Party, any other document necessary to effect the transactions contemplated by this Agreement. 

(e) StealthGas will establish the Record Date and give Nasdaq the required notice of the Record Date in compliance with Rule 10b-17 under the Exchange Act and Nasdaq rules. 
 (f) Each Party shall cooperate with the other Party to
accomplish the Distribution and shall take any and all actions necessary or desirable to effect the Distribution. 
 (g) The Parties will
take all actions and make all filings as StealthGas, in consultation with Imperial Petroleum but ultimately in its sole and absolute discretion, determines are necessary or appropriate, to cause the transfer or issuance of all material Consents in
order for StealthGas and Imperial Petroleum to operate their respective Businesses independently of each other in the manner contemplated hereunder. Imperial Petroleum will prepare, file and use commercially reasonable efforts to make effective an
application for listing of the Imperial Petroleum Common Shares and the Imperial Petroleum Preferred Shares on the Nasdaq Capital Market, subject to official notice of issuance. 

(h) StealthGas shall, in its sole discretion, determine (i) whether to proceed with all or part of the Distribution, (ii) the
Distribution Date, (iii) the timing and conditions to the Distribution and (iv) the terms thereof. StealthGas may, at any time and from time to time prior to the Effective Time, change the terms of the Distribution, including by delaying
or accelerating the timing of the Distribution. StealthGas shall use good faith efforts to provide notice to Imperial Petroleum of any such change. StealthGas may select, for itself and for Imperial Petroleum, outside financial advisors, outside
counsel, agents and the financial printer employed in connection with the transactions hereunder in its sole and absolute discretion. 
 (i)
StealthGas and Imperial Petroleum shall take all actions necessary so that the Imperial Petroleum Articles of Incorporation and the Imperial Petroleum Bylaws shall be in effect at or prior to the Effective Time. 

  
 5 

 (j) StealthGas and Imperial Petroleum shall take all such actions as StealthGas, in
consultation with Imperial Petroleum but ultimately in its sole and absolute discretion, determines are necessary or appropriate under applicable federal or state securities or blue sky laws of the United States (and any comparable laws under any
foreign jurisdiction) in connection with the Distribution. 
 Section 3.2 The Distribution. Subject to the satisfaction or
waiver of the conditions set forth in Section 3.3, the actions set forth in this Section 3.2 shall be taken on the Distribution Date. 

(a) StealthGas shall effect the Distribution by causing all of the issued and outstanding shares of Imperial Petroleum Common Shares and
Imperial Petroleum Preferred Shares beneficially owned by StealthGas to be distributed to record holders of shares of StealthGas Common Stock as of the Record Date, other than with respect to shares of StealthGas Common Stock held in the treasury of
StealthGas, by means of a pro rata dividend of such Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares to such record holders of shares of StealthGas Common Stock, on the terms and subject to the conditions set forth in this
Agreement. 
 (b) Each record holder of StealthGas Common Stock on the Record Date (or such holder’s designated transferee or
transferees), other than in respect of shares of StealthGas Common Stock held in the treasury of StealthGas, will be entitled to receive in the Distribution, one (1) Imperial Petroleum Common Share with respect to every eight (8) shares of
StealthGas Common Stock held by such record holder on the Record Date and one (1) Imperial Petroleum Preferred Share with respect to every forty-eight (48) shares of StealthGas Common Stock held by such record holder on the Record Date.
StealthGas shall direct the Distribution Agent to distribute on the Distribution Date or as soon as reasonably practicable thereafter the appropriate number of Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares to each such
record holder or designated transferee(s) of such holder of record. 
 (c) StealthGas shall direct the Distribution Agent to determine, as
soon as is practicable after the Distribution Date, the number of fractional shares, if any, of Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares allocable to each holder of record of StealthGas Common Stock entitled to
receive Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares, respectively, in the Distribution and to promptly thereafter aggregate all such fractional shares and sell the whole shares obtained thereby, in open market
transactions or otherwise at the then-prevailing trading prices, and to cause to be distributed to each such holder, in lieu of any fractional share, such holder’s ratable share of the proceeds of such sale, after making appropriate deductions
of the amounts required to be withheld for federal income tax purposes and after deducting an amount equal to all brokerage charges, commissions and transfer taxes attributed to such sale. 

(d) Any Imperial Petroleum Common Shares or Imperial Petroleum Preferred Shares or cash in lieu of fractional shares with respect to Imperial
Petroleum Common Shares or Imperial Petroleum Preferred Shares that remains unclaimed by any holder of record 180 days after the Distribution Date shall be delivered to Imperial Petroleum. Imperial Petroleum shall hold such Imperial Petroleum Common
Shares, Imperial Petroleum Preferred Shares and/or cash for the account of such holder of record and any such holder of record shall look only to Imperial Petroleum for such Imperial Petroleum Common Shares, Imperial Petroleum Preferred Shares
and/or cash, if any, in lieu of fractional share interests, subject in each case to applicable escheat or other abandoned property laws. 

Section 3.3 Conditions to Distribution. The obligation of StealthGas to consummate the Distribution is subject to the prior
or simultaneous satisfaction, or waiver by StealthGas, in its sole and absolute discretion, of each of the following conditions: 
 (a)
final approval of the Distribution shall have been given by the Board of Directors of StealthGas, and the Board of Directors of StealthGas shall have declared the dividend of Imperial Petroleum Common Shares and of Imperial Petroleum Preferred
Shares, each such action in its sole and absolute discretion; 
 (b) the Registration Statement shall have been filed with, and declared
effective by, the SEC, and there shall be no stop-order in effect with respect thereto and the Prospectus shall have been mailed to StealthGas shareholders; 

(c) the actions and filings necessary or appropriate under applicable federal and state securities laws of the United States (and any
comparable laws under any foreign jurisdictions) in connection with the Distribution (including, if applicable, any actions and filings relating to the Registration Statement) and any other necessary and applicable Consents from any Governmental
Authority shall have been taken, obtained and, where applicable, have become effective or been accepted, each as the case may be; 

  
 6 

 (d) the Imperial Petroleum Common Shares and Imperial Petroleum Preferred Shares to be
delivered in the Distribution shall have been approved for listing on the Nasdaq Capital Market, subject to official notice of issuance; 

(e) no order, injunction or decree issued by any Governmental Authority or other legal restraint or prohibition preventing the consummation of
the Pre-Distribution Transactions or the Distribution or any of the other transactions contemplated by this Agreement shall have been threatened or be in effect; 

(g) StealthGas shall have established the Record Date and shall have given the Nasdaq not less than ten (10) days’ advance notice of
the Record Date in compliance with Rule 10b-17 under the Exchange Act and Nasdaq rules; 
 (h) the
Distribution will not violate or result in a breach of Law or any material agreement; 
 (i) all material Consents required in connection
with the transactions contemplated hereby (that are not referred to in Section 3.3(c)) shall have been received and be in full force and effect; 

(j) each of the Pre-Distribution Transactions shall have been consummated in accordance with this
Agreement; 
 (k) the Parties shall have performed or complied with all of their respective covenants, obligations and agreements contained
herein as required to be performed or complied with prior to the Effective Time; and 
 (l) the Board of Directors of StealthGas shall have
not determined that any event or development shall have occurred or exists, or might occur or exist, that makes it inadvisable to effect the Distribution. 

Each of the foregoing conditions is for the sole benefit of StealthGas and StealthGas may, in its sole and absolute discretion, determine
whether to waive any such condition. Any determination made by StealthGas, in its sole and absolute discretion, prior to the Distribution concerning the satisfaction or waiver of any or all of the conditions set forth in this Section 3.3 shall
be conclusive and binding on the Parties. Each Party will use good faith efforts to keep the other Party apprised of its efforts with respect to, and the status of, each of the foregoing conditions. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF STEALTHGAS; DISCLAIMER 

4.1 Representations and Warranties. StealthGas hereby represents and warrants that: 

(a) Each of the Vessel-Owning Subsidiaries has been duly formed or incorporated and is validly existing in good standing under the laws of its
respective jurisdiction of formation or incorporation and has all requisite power and authority to operate its assets, including the vessel owned by each such Vessel-Owning Subsidiary, and conduct its business as described in the Registration
Statement; 
 (b) The execution and delivery of this Agreement and all documents, instruments and agreements required to be executed and
delivered by it pursuant to this Agreement in connection with the completion of the transactions contemplated by this Agreement, have been duly authorized by all necessary actions by StealthGas and, to the extent applicable, each Vessel-Owning
Subsidiary, and this Agreement has been duly executed and delivered by StealthGas and constitutes a legal, valid and binding obligation of StealthGas enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency,
liquidation, reorganization, reconstruction and other similar laws of general application affecting the enforceability of remedies and rights of creditors and except that equitable remedies such as specific performance and injunction are in the
discretion of a court; 

  
 7 

 (c) The execution, delivery and performance by it of this Agreement will not conflict with
or result in any violation of or constitute a breach of any of the terms or provisions of, or result in the acceleration of any obligation under, or constitute a default under any provision of: (i) the articles of association, articles of
incorporation or by-laws or other organizational documents of StealthGas or any of the Vessel-Owning Subsidiaries (the “StealthGas Parties” and each, a “StealthGas Party”); (ii) any
lien, encumbrance, security interest, pledge, mortgage, charge, other claim, bond, indenture, agreement, contract, franchise license, permit or other instrument or obligation to which any StealthGas Party is a party or is subject or by which any of
such StealthGas Party’s assets or properties may be bound; (iii) any applicable laws, statutes, ordinances, rules or regulations promulgated by a governmental authority, orders of a governmental authority, judicial decisions, decisions of
arbitrators or determinations of any governmental authority or court; or (iv) any charter or vessel management agreement to which any StealthGas Party is a party or any material provision of any material contract to which a StealthGas Party is
a party or by which a StealthGas Party’s properties are bound; 
 (d) Except as have already been obtained or that will be obtained in
the ordinary course of business, no consent, permit, approval or authorization of, notice or declaration to or filing with any governmental authority or any other person, including those related to any environmental laws or regulations or the
charters or vessel management agreements related to the vessels owned by the Vessel-Owning Subsidiaries, is required in connection with the execution and delivery by any StealthGas Party of this Agreement or the consummation by any StealthGas Party
of the transactions contemplated hereunder; 
 (e) The Vessel-Owning Subsidiary Shares have been duly and validly issued, are fully
paid and non-assessable and free of preemptive rights. StealthGas has, and will convey to Imperial Petroleum, good and valid title to the Vessel-Owning Subsidiary Shares which comprise all of the issued and
outstanding shares in the Vessel-Owning Subsidiaries, free and clear of all mortgages, liens, security interests, covenants, options, claims, restrictions, or encumbrances of any kind. There are no outstanding options, warrants or other rights to
acquire any shares of capital stock or securities convertible into or exercisable for the capital stock of any Vessel-Owning Subsidiary. With respect to the Vessel-Owning Subsidiary Shares, there is no further obligation to make any capital
contribution to the applicable Vessel-Owning Subsidiary. 
 (f) There is no outstanding agreement, contract, option, commitment or other
right or understanding in favor of, or held by, any person to acquire the Vessel-Owning Subsidiary Shares or the assets of the Vessel-Owning Subsidiaries, including but not limited to the Vessels, that has not been terminated or otherwise
waived; 
 (g) Each of the charters to which each applicable Vessel-Owning Subsidiary is a party (as amended to the date of this Agreement)
has been made available to Imperial Petroleum and is a valid and binding agreement of the Vessel-Owning Subsidiary party to such charter or agreement enforceable in accordance with its terms and, to the knowledge of such Vessel-Owning Subsidiary, of
all other parties thereto enforceable in accordance with its terms; 
 (h) The Vessel-Owning Subsidiaries have fulfilled all material
obligations required pursuant to the charters (described in (g) above) and the vessel management agreements to have been performed by them prior to the date of this Agreement and have not waived any material rights thereunder; and no material
default or breach exists in respect thereof on their part or, to their knowledge, any of the other parties thereto and, to their knowledge, no event has occurred which, after giving of notice or the lapse of time, or both, would constitute such a
material default or breach; 
 (i) Except for such liabilities, debts obligations, encumbrances, defects, restrictions or claims of a general
nature and magnitude that would arise in connection with the operation of vessels of the same type as the Vessels in the ordinary course of business and as disclosed to Imperial Petroleum, there are no liabilities, debts or obligations of,
encumbrances, defects or restrictions with respect to, or claims against the Vessel-Owning Subsidiaries or any of the assets owned by the Vessel-Owning Subsidiaries, including the Vessels (other than those arising under the credit facilities
described in the annual report on Form 20-F of StealthGas filed with the Securities and Exchange Commission on April 27, 2021, as amended, to be repaid in full by StealthGas on the date hereof); and 

  
 8 

 (o) The Vessels are (i) adequate and suitable for use by the Vessel-Owning
Subsidiaries in the Vessel-Owning Subsidiaries’ business as presently conducted by them in all material respects as described in the Registration Statement, ordinary wear and tear excepted; (ii) seaworthy in all material respects for hull
and machinery insurance warranty purposes and is in good running order and repair; (iii) insured against all risks, and in amounts, consistent with common industry practices; (iv) in compliance with maritime laws and regulations;
(v) duly registered under the flag of the Marshall Islands; and (vi) in compliance in all material respects with the requirements of its present class and classification society; and all class certificates of each of the Vessels are clean
and valid and free of recommendations affecting class. 
 4.2 Disclaimer of Warranties. EXCEPT TO THE EXTENT PROVIDED IN THIS
AGREEMENT OR IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, THE PARTIES ACKNOWLEDGE AND AGREE THAT NONE OF THE PARTIES HAS MADE, DOES NOT MAKE, AND EACH SUCH PARTY SPECIFICALLY NEGATES AND DISCLAIMS, ANY
REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, ORAL OR WRITTEN, PAST OR PRESENT, REGARDING (A) THE VALUE, NATURE, QUALITY OR CONDITION OF
THE ASSETS OWNED BY THE VESSEL-OWNING SUBSIDIARIES, INCLUDING, WITHOUT LIMITATION, THE ENVIRONMENTAL CONDITION OF THE ASSETS GENERALLY, INCLUDING, WITHOUT LIMITATION, THE PRESENCE OR LACK OF HAZARDOUS SUBSTANCES OR OTHER MATTERS ON SUCH ASSETS,
(B) THE INCOME TO BE DERIVED FROM SUCH ASSETS, (C) THE SUITABILITY OF SUCH ASSETS FOR ANY AND ALL ACTIVITIES AND USES THAT MAY BE CONDUCTED THEREON OR THEREWITH, (D) THE COMPLIANCE OF OR BY SUCH ASSETS OR THEIR OPERATION WITH ANY LAWS
(INCLUDING WITHOUT LIMITATION ANY ZONING, ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS), OR (E) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR
PURPOSE OF SUCH ASSETS. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, EACH PARTY ACKNOWLEDGES AND AGREES THAT SUCH PARTY HAS HAD THE OPPORTUNITY TO INSPECT THE ASSETS OF THE
VESSEL-OWNING SUBSIDIARIES, AND SUCH PARTY IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE ASSETS OF THE VESSEL-OWNING SUBSIDIARIES AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY THE OTHER PARTY. EXCEPT TO THE EXTENT PROVIDED IN ANY
OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, EACH OF THE PARTIES HEREBY ACKNOWLEDGES THAT, TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE ASSETS OWNED BY THE SUBSIDIARIES, AS PROVIDED FOR HEREIN, ARE CONVEYED ON AN “AS
IS,” “WHERE IS” CONDITION WITH ALL FAULTS, AND THE ASSETS OF THE SUBSIDIARIES ARE CONVEYED SUBJECT TO ALL OF THE MATTERS CONTAINED IN THIS SECTION. THIS SECTION SHALL SURVIVE THE CONTRIBUTION AND CONVEYANCE OF THE VESSEL-OWNING
SUBSIDIARY SHARES OR THE TERMINATION OF THIS AGREEMENT. THE PROVISIONS OF THIS SECTION HAVE BEEN NEGOTIATED BY THE PARTIES AFTER DUE CONSIDERATION AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY REPRESENTATIONS OR WARRANTIES, WHETHER
EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE ASSETS OF THE VESSEL-OWNING SUBSIDIARIES THAT MAY ARISE PURSUANT TO ANY LAW NOW OR HEREAFTER IN EFFECT, OR OTHERWISE, EXCEPT AS SET FORTH IN THIS AGREEMENT OR ANY OTHER DOCUMENT EXECUTED OR
DELIVERED IN CONNECTION WITH THIS AGREEMENT. 
 ARTICLE V 

FURTHER ASSURANCES 

5.1 Further Assurances. From time to time after the date of this Agreement, and without any further consideration, the Parties
agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and will do all such other acts and things, all in accordance with
applicable Law, as may be necessary or appropriate (a) more fully to assure that the applicable Parties own all of the properties, rights, titles, interests, estates, remedies, powers and privileges granted by this Agreement, or which are
intended to be so granted, (b) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and record title to the interests contributed and assigned by this Agreement or intended so to be
and (c) to more fully and effectively carry out the purposes and intent of this Agreement. 

  
 9 

 ARTICLE VI 

TERMINATION 

Section 6.1 Termination. This Agreement may be terminated by StealthGas in its sole discretion at any time prior to the
consummation of the Distribution. 
 Section 6.2 Effect of Termination. In the event of any termination of this Agreement
prior to consummation of the Distribution, neither Party (nor any of its directors or officers) shall have any liability or further obligation to the other Party. 

ARTICLE VII 

MISCELLANEOUS 

7.1 Survival of Representations and Warranties. The representations and warranties of the Parties in this Agreement and in or
under any documents, instruments and agreements delivered pursuant to this Agreement, will survive the completion of the transactions contemplated hereby regardless of any independent investigations that Imperial Petroleum may make or cause to be
made, or knowledge it may have, prior to the date of this Agreement and will continue in full force and effect. 
 7.2 Costs.
Imperial Petroleum shall pay any and all sales, use and similar taxes arising out of the contributions, conveyances and deliveries to be made hereunder, and shall pay all documentary, filing, recording, transfer, deed, and conveyance taxes and fees
required in connection therewith. 
 7.3 Headings; References; Interpretation. All Article and Section headings in this Agreement
are for convenience only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder” and words of similar import, when used in
this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement. All references herein to Articles and Sections shall, unless the context requires a different construction, be deemed to be references to
the Articles and Sections of this Agreement, respectively. All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender, shall include all other genders, and the singular shall include the plural and vice
versa. The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to
similar items or matters, whether or not non-limiting language (such as “without limitation,” “but not limited to,” or words of similar import) is used with reference thereto, but rather
shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. 

7.4 Successors and Assigns. The Agreement shall be binding upon and inure to the benefit of the Parties and their respective
successors and assigns. 
 7.5 No Third Party Rights. The provisions of this Agreement are intended to bind the Parties as to
each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies and no person is or is intended to be a third party beneficiary of any of the provisions of this
Agreement. 
 7.6 Counterparts. This Agreement may be executed in any number of counterparts, all of which together shall
constitute one agreement binding on the parties hereto. 

  
 10 

 7.7 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York without giving effect to any choice of law rules or provisions (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than
the State of New York. Each of the parties hereto submits to the exclusive jurisdiction of the United States District Court for the Southern District of New York (or, if jurisdiction in that court is not available, then any state court located
within the Borough of Manhattan, City of New York) for any and all legal actions arising out of or in connection with this Agreement. 

7.8 Severability. If any of the provisions of this Agreement are held by any court of competent jurisdiction to contravene, or to
be invalid under, the laws of any governmental body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire Agreement. Instead, this Agreement shall be construed as if it did not contain
the particular provision or provisions held to be invalid, and an equitable adjustment shall be made and necessary provision added so as to give effect, as nearly as possible, to the intention of the Parties as expressed in this Agreement at the
time of execution of this Agreement. 
 7.9 Deed; Bill of Sale; Assignment. To the extent required and permitted by applicable
law, this Agreement shall also constitute a “deed,” “bill of sale” or “assignment” of the Vessel-Owning Subsidiary Shares. 

7.10 Amendment or Modification. This Agreement may be amended or modified from time to time only by the written agreement of all
the Parties hereto. 
 7.11 Integration. This Agreement and the instruments referenced herein supersede all previous
understandings or agreements among the Parties, whether oral or written, with respect to its subject matter hereof. This Agreement and such instruments contain the entire understanding of the Parties with respect to the subject matter hereof and
thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Agreement unless it is contained in a written amendment hereto executed by the Parties hereto
after the date of this Agreement. 
 [Remainder of Page Intentionally Left Blank] 

  
 11 

 IN WITNESS WHEREOF, this Contribution and Distribution Agreement has been duly executed by
the parties set forth below. 
  

			
	STEALTHGAS INC.
		
	        By:	 	 /s/ Harry N. Vafias

		 	Name: Harry N. Vafias
		 	Title: CEO and Director
	
	IMPERIAL PETROLEUM INC.
		
	        By:	 	 /s/ Harry N. Vafias

		 	Name: Harry N. Vafias
		 	Title: President and Director

  
 12Exhibit 10.1

   

  AMENDED AND RESTATED MANAGEMENT AND ADVISORY AGREEMENT

   

  dated as of [•], 2022

   

  between

   

  FTAI Infrastructure Inc.

   

  and

   

  FIG LLC

   

  
     

    
      
 

  

   

  TABLE OF CONTENTS

   

  Page

   

  	SECTION 1.   DEFINITIONS.	1
	SECTION 2.   APPOINTMENT AND DUTIES OF THE MANAGER.	3
	SECTION 3.   DEVOTION OF TIME; ADDITIONAL ACTIVITIES.	7
	SECTION 4.   AGENCY.	7
	SECTION 5.   BANK ACCOUNTS.	8
	SECTION 6.   RECORDS; CONFIDENTIALITY.	8
	SECTION 7.   OBLIGATIONS OF MANAGER; RESTRICTIONS.	8
	SECTION 8.   COMPENSATION.	9
	SECTION 9.   EXPENSES OF THE COMPANY.	10
	SECTION 10.   CALCULATIONS OF EXPENSES.	12
	SECTION 11.   LIMITS OF MANAGER RESPONSIBILITY; INDEMNIFICATION.	12
	SECTION 12.   NO JOINT VENTURE.	13
	SECTION 13.   TERM; TERMINATION.	13
	SECTION 14.   ASSIGNMENT.	14
	SECTION 15.   TERMINATION FOR CAUSE.	15
	SECTION 16.   ACTION UPON TERMINATION.	15
	SECTION 17.   RELEASE OF MONEY OR OTHER PROPERTY UPON WRITTEN REQUEST.	15
	SECTION 18.   NOTICES.	16
	SECTION 19.   BINDING NATURE OF AGREEMENT; SUCCESSORS AND ASSIGNS.	17
	SECTION 20.   ENTIRE AGREEMENT.	17
	SECTION 21.   CONTROLLING LAW.	17
	SECTION 22.   INDULGENCES, NOT WAIVERS.	17
	SECTION 23.   TITLES NOT TO AFFECT INTERPRETATION.	17
	SECTION 24.   EXECUTION IN COUNTERPARTS.	17
	SECTION 25.   PROVISIONS SEPARABLE.	18
	SECTION 26.   GENDER.	18

  

   

  
    i

    
      
 

  

   

  AMENDED AND RESTATED MANAGEMENT AND ADVISORY AGREEMENT

   

  THIS AMENDED AND RESTATED MANAGEMENT AND ADVISORY AGREEMENT, is made as of [•], 2022 (the “Agreement”) by and among FTAI Infrastructure INC., a Delaware corporation (the “Company”), and FIG LLC, a Delaware limited liability company (together with its permitted assignees, the “Manager”).

   

  W I T N E S S E T H:

   

  WHEREAS, the Management and Advisory Agreement, dated as of May 20, 2015 (the “Original Management and Advisory Agreement”) between
    Fortress Transportation and Infrastructure Investors LLC (“FTAI LLC”) and the Manager was assigned by FTAI LLC to the Company on [•], 2022;

   

  WHEREAS, the Company desires to avail itself of the experience, sources of information, advice, assistance and certain facilities of or available
    to the Manager and to have the Manager undertake the duties and responsibilities hereinafter set forth, on behalf of the Company, as provided in this Agreement;

   

  WHEREAS, the Manager is willing to render such services on the terms and conditions hereinafter set forth; and

   

  WHEREAS, the Company and the Manager desire to enter into this Agreement to amend and restate the Original Management and Advisory Agreement and
    make the modifications set out in this Agreement.

   

  NOW, THEREFORE, in consideration of the mutual promises and agreements herein made and intending to be legally bound hereby, the Company and the
    Manager agree to amend and restate the Original Management and Advisory Agreement in its entirety to read as follows:

   

  SECTION 1.      DEFINITIONS.

   

  The following terms have the meanings assigned to them:

   

  (a)          “Acquisitions” means asset acquisitions by
    the Company and its Subsidiaries.

   

  (b)          “Agreement” means this Amended and Restated
    Management and Advisory Agreement, as amended from time to time.

   

  (c)          “Board of Directors” means the Board of
    Directors of the Company.

   

  (d)          “Code” means the Internal Revenue Code of
    1986, as amended.

   

  (e)          “Common Stock” means the common stock of the
    Company now or hereafter authorized and designated as common stock of the Company.

   

  
    1

    
      
 

  

   

  (f)           “Exchange Act” means the Securities
    Exchange Act of 1934, as amended.

   

  (g)          “FTAI Infrastructure Assets” shall have the
    meaning given to such term in the Separation Agreement.

   

  (h)          “FTAI Infrastructure Assets and Liabilities”
    means FTAI Infrastructure Assets and FTAI Infrastructure Liabilities.

   

  (i)           “FTAI Infrastructure Liabilities” shall
    have the meaning given to such term in the Separation Agreement.

   

  (j)           “GAAP” means generally accepted accounting
    principles in the United States, as in effect on the date of this Agreement.

   

  (k)         “Governing Instruments” means, with regard to any entity, the articles of incorporation and bylaws in the case of a
        corporation, certificate of limited partnership (if applicable) and the partnership agreement in the case of a general or limited partnership, the articles of formation and the operating agreement in the case of a limited liability company, or, in
        each case, comparable governing documents.

   

  (l)            “Independent Directors” means the members
    of the Board of Directors who are not officers or employees of the Manager.

   

  (m)          “Investment Company Act” means the Investment
    Company Act of 1940, as amended.

   

  (n)           “IPO Date”: means [•].

   

  (o)       “Operating Agreement” shall mean the Fourth
    Amended and Restated Partnership Agreement of Fortress Worldwide Transportation and Infrastructure General Partnership dated as of May 20, 2015.

   

  (p)        “Pre-Incentive Fee Net Income” means, with
    respect to a calendar quarter, the Company’s net income attributable to shareholders during such quarter calculated in accordance with GAAP, but excluding the following (without duplication): (i) gains and losses, realized or unrealized, (ii) the
    non-cash portion of any equity-based compensation expense, (iii) the one-time impact of any non-capitalized acquisition-related expenses, including transaction and integration expenses, provided that such amounts are capitalized and amortized in
    respect of such acquisition and such amortization is included in the calculation of Pre-Incentive Fee Net Income, (iv) any non-cash portion of the provision for income taxes, net of cash payments for income taxes and (v) any other amounts approved by
    the independent directors of the Company upon reasonable request by the Manager. For the avoidance of doubt, amounts paid to the Manager as an Income Incentive Fee or a Capital Gains Incentive Fee during such quarter shall be excluded in computing
    Pre-Incentive Fee Net Income. With respect to the first determination of Pre-Incentive Fee Net Income following the Spin Date, Pre-Incentive Fee Net Income for any portion of the quarter occurring prior to the Spin Date shall be determined considering
    only the FTAI Infrastructure Assets and Liabilities.

   

  
    2

    
      
 

  

   

  (q)          “Separation Agreement” means that certain
    Separation and Distribution Agreement, dated as of [•], 2022, by and between FTAI LLC and the Company.

   

  (r)            “Spin Date”: means [•].

   

  (s)         “Subsidiary” means any subsidiary of the
    Company and any partnership, the general or operating partner of which is the Company or any subsidiary of the Company and any limited liability company, the managing member of which is the Company or any subsidiary of the Company.

   

  SECTION 2.      APPOINTMENT AND DUTIES OF THE
    MANAGER.

   

  (a)           The Company hereby appoints the Manager to manage
    the assets and day-to-day operations of the Company and its Subsidiaries subject to the further terms and conditions set forth in this Agreement and the Manager hereby agrees to use its commercially reasonable efforts to perform each of the duties set
    forth herein. The appointment of the Manager shall be exclusive to the Manager except to the extent that the Manager otherwise agrees, in its sole and absolute discretion, and except to the extent that the Manager elects, pursuant to the terms of this
    Agreement, to cause the duties of the Manager hereunder to be provided by third parties.

   

  (b)           The Manager, in its capacity as manager of the
    assets and the day-to-day operations of the Company and its Subsidiaries, at all times will be subject to the supervision of the Company’s Board of Directors and will have only such functions and authority as the Company may delegate to it including,
    without limitation, the functions and authority identified herein and delegated to the Manager hereby. The Manager will be responsible for the day-to-day operations of the Company and its Subsidiaries and will perform (or cause to be performed) such
    services and activities relating to the assets and operations of the Company as may be appropriate, including, without limitation:

   

  (i)          serving as the Company’s consultant with respect to
    the periodic review of the acquisition criteria and parameters for Acquisitions, borrowings, financing transactions, and operations;

   

  (ii)         investigation, analysis, valuation and selection of
    Acquisition opportunities;

   

  (iii)        with respect to prospective Acquisitions by the
    Company and dispositions of assets, conducting negotiations with brokers, sellers and purchasers and their respective agents and representatives, investment bankers and owners of privately and publicly held companies;

   

  (iv)        engaging and supervising independent contractors that
    provide services relating to the Company or any of its Subsidiaries or the Company’s assets, including, but not limited to, investment banking, legal or regulatory advisory, tax advisory, due diligence, accounting advisory, securities brokerage,
    brokerage, and other financial, brokerage and consulting services as the Manager determines from time to time is advisable;

   

  (v)         negotiating the sale, exchange or other disposition of
    any asset;

   

  
    3

    
      
 

  

   

  (vi)        coordinating and managing operations of any joint
    venture or co-investment interests held by the Company or any of its Subsidiaries and conducting all matters with the joint venture or co-investment partners;

   

  (vii)       coordinating and supervising, all matters related to
    the Company’s or any of its Subsidiaries’ assets, including the leasing and/or sale and management of such assets and retaining agents, managers or other advisors in connection with such coordination and supervision;

   

  (viii)      providing executive and administrative personnel,
    office space and office services required in rendering services to the Company;

   

  (ix)         administering the day-to-day operations of the Company
    and its Subsidiaries and performing and supervising the performance of such other administrative functions necessary in the management of the Company and its Subsidiaries as may be agreed upon by the Manager and the Board of Directors, including,
    without limitation, the collection of revenues and the payment of the Company’s debts and obligations and maintenance of appropriate computer services to perform such administrative functions;

   

  (x)          communicating with the past, current and prospective
    holders of any equity or debt securities of the Company and its Subsidiaries as required to satisfy the reporting and other requirements of any governmental bodies or agencies or trading markets and to maintain effective relations with such holders;

   

  (xi)         counseling the Company in connection with policy
    decisions to be made by the Board of Directors;

   

  (xii)        evaluating and recommending to the Board of Directors
    modifications to any hedging strategies in effect on the date hereof and engaging in hedging activities, consistent with such strategies, as in effect from time to time;

   

  (xiii)       counseling the Company regarding the maintenance of
    its exemption from the Investment Company Act and monitoring compliance with the requirements for maintaining an exemption from that Act;

   

  (xiv)       assisting the Company in developing criteria that are
    specifically tailored to the Company’s investment objectives and making available to the Company its knowledge and experience with respect to its target assets;

   

  (xv)        representing and making recommendations to the Company
    in connection with the purchase and finance, and commitment to purchase and finance, of its target assets, and in connection with the sale and commitment to sell such assets;

   

  (xvi)       monitoring the operating performance of the Company’s
    and its Subsidiaries’ assets and providing periodic reports with respect thereto to the Board of Directors, including comparative information with respect to such operating performance, valuation and budgeted or projected operating results;

   

  
    4

    
      
 

  

   

  (xvii)     investing and re-investing any moneys and securities of
    the Company and its Subsidiaries (including investing in short-term investments, pending investment in Acquisitions, payment of fees, costs and expenses, or payments of dividends or distributions to shareholders and partners of the Company) and
    advising the Company as to its capital structure and capital raising;

   

  (xviii)    causing the Company to retain qualified accountants and
    legal counsel, as applicable, to assist in developing appropriate accounting procedures, compliance procedures and testing systems with respect to financial reporting obligations and to conduct quarterly compliance reviews with respect thereto;

   

  (xix)       causing the Company and its Subsidiaries to qualify to
    do business in all applicable jurisdictions and to obtain and maintain all appropriate licenses;

   

  (xx)        taking all necessary actions to enable the Company and
    its Subsidiaries to make required tax filings and reports, including soliciting shareholders for required information to the extent provided by the provisions of the Code;

   

  (xxi)       assisting the Company and its Subsidiaries in complying
    with all regulatory requirements applicable thereto in respect of its business activities, including preparing or causing to be prepared all financial statements required under applicable regulations and contractual undertakings and all reports and
    documents required under the Exchange Act;

   

  (xxii)      handling and resolving all claims, disputes or
    controversies (including all litigation, arbitration, settlement or other proceedings or negotiations) in which the Company or any of its Subsidiaries may be involved or to which the Company or any of its Subsidiaries may be subject arising out of the
    Company’s or any of its Subsidiaries’ day-to-day operations, subject to such limitations or parameters as may be imposed from time to time by the Board of Directors;

   

  (xxiii)     using commercially reasonable efforts to cause
    expenses incurred by or on behalf of the Company and its Subsidiaries to be within any expense guidelines set by the Board of Directors from time to time;

   

  (xxiv)     performing such other services as may be required from
    time to time for management and other activities relating to the assets of the Company and its Subsidiaries as the Board of Directors and Manager shall agree from time to time or as the Manager shall deem appropriate under the particular circumstances;

   

  (xxv)      using commercially reasonable efforts to cause the
    Company to comply with all applicable laws; and

   

  (xxvi)     traveling in connection with the performance of any
    services or activities relating to the Company’s and its Subsidiaries’ assets, operations, Acquisitions or investment analysis.

   

  
    5

    
      
 

  

   

  Without limiting the foregoing, the Manager will perform portfolio management services (the “Portfolio Management Services”) on behalf of
    the Company with respect to Acquisitions. Such services will include, but not be limited to, consulting with the Company on the purchase and sale of, and other investment opportunities in connection with, the Company’s portfolio of assets; the
    collection of information and the submission of reports pertaining to the Company’s assets, general economic conditions; periodic review and evaluation of the performance of the Company’s portfolio of assets; acting as liaison between the Company and
    banking, investment banking and other parties with respect to the purchase, financing and disposition of assets; and other customary functions related to portfolio management. Additionally, the Manager will perform monitoring services (the “Monitoring

      Services”) on behalf of the Company with respect to any services provided by third parties, which the Manager determines are material to the performance of the business.

   

  (c)           The Manager may enter into agreements with other
    parties, including its affiliates, including to provide the services above, provided, that any such agreements entered into with affiliates of the Manager shall be (A) on terms no more favorable to such affiliate than could be obtained from a third
    party on an arm’s length basis and (B) to the extent the same do not fall within policies approved by the Board of Directors, approved by a majority of the Independent Directors to the extent required by any Board policy.

   

  (d)           The Manager may retain, for and on behalf, and at
    the sole cost and expense, of the Company, such services of accountants, legal counsel, tax counsel, appraisers, insurers, brokers or business developers, transfer agents, registrars, developers, investment banks, financial advisors, underwriters,
    asset managers, banks and other lenders and others as the Manager deems necessary or advisable in connection with the management and operations of the Company. Notwithstanding anything contained herein to the contrary, the Manager shall have the right
    to cause any such services to be rendered by its employees or affiliates (which, for the avoidance of doubt, includes any employees, consultants or agents or any affiliate of the Manager). The Company shall pay or reimburse the Manager or its
    affiliates performing such services for the cost thereof; provided, that such costs and reimbursements are no greater than those which would be payable to outside professionals or consultants engaged to perform such services pursuant to
    agreements negotiated on an arm’s-length basis.

   

  (e)           As frequently as the Manager may deem necessary or
    advisable, or at the direction of the Board of Directors, the Manager shall, at the sole cost and expense of the Company, prepare, or cause to be prepared, with respect to any investment, (i) reports and information on the Company’s operations and
    asset performance and (ii) other information reasonably requested by the Company.

   

  (f)            The Manager shall prepare, or cause to be
    prepared, at the sole cost and expense of the Company, all reports, financial or otherwise, with respect to the Company reasonably required by the Board of Directors in order for the Company to comply with its Governing Instruments or any other
    materials required to be filed with any governmental body or agency, and shall prepare, or cause to be prepared, all materials and data necessary to complete such reports and other materials including, without limitation, an annual audit of the
    Company’s books of account by a nationally recognized independent accounting firm.

   

  (g)           The Manager shall prepare regular reports for the
    Board of Directors to enable the Board of Directors to review the Company’s Acquisitions, portfolio composition and characteristics, credit quality, performance and compliance with policies approved by the Board of Directors.

   

  
    6

    
      
 

  

   

  (h)           Notwithstanding anything contained in this
    Agreement to the contrary, except to the extent that the payment of additional monies is proven by the Company to have been required as a direct result of the Manager’s acts or omissions which result in the right of the Company to terminate this
    Agreement pursuant to Section 15 of this Agreement, the Manager shall not be required to expend money (“Excess Funds”) in excess of that contained in any applicable Company Account (as herein defined) or otherwise made available by the Company
    to be expended by the Manager hereunder. Failure of the Manager to expend Excess Funds out-of-pocket shall not give rise or be a contributing factor to the right of the Company under Section 13(a) of this Agreement to terminate this Agreement due to
    the Manager’s unsatisfactory performance.

   

  (i)            In performing its duties under this Section 2, the
    Manager shall be entitled to rely reasonably on qualified experts hired by the Manager.

   

  SECTION 3.       DEVOTION OF TIME; ADDITIONAL
    ACTIVITIES.

   

  (a)           The Manager will provide a management team,
    including a Chief Executive Officer and a Chief Financial Officer of the Company, to provide the management services to be provided by the Manager to the Company hereunder. The members of such team shall devote such of their time to the management of
    the Company as the Board of Directors reasonably deems necessary and appropriate, commensurate with the level of activity of the Company from time to time.

   

  (b)           Except to the extent set forth in clause (a) above,
    nothing herein shall prevent the Manager or any of its affiliates or any of the officers and employees of any of the foregoing from engaging in other businesses or from rendering services of any kind to any other person or entity, including investment
    in, or advisory service to others investing in, any type of infrastructure or equipment asset, including investments which meet the principal investment objectives of the Company.

   

  (c)           Managers, members, partners, officers, employees
    and agents of the Manager or affiliates of the Manager may serve as directors, officers, employees, agents, nominees or signatories for the Company or any Subsidiary, to the extent permitted by their Governing Instruments, as from time to time amended,
    or by any resolutions duly adopted by the Board of Directors pursuant to the Company’s Governing Instruments. When executing documents or otherwise acting in such capacities for the Company, such persons shall use their respective titles in the
    Company.

   

  SECTION 4.      AGENCY.

   

  The Manager shall act as agent of the Company in making, acquiring, financing and disposing of Acquisitions, disbursing and collecting the
    Company’s funds, paying the debts and fulfilling the obligations of the Company, supervising the performance of professionals engaged by or on behalf of the Company and handling, prosecuting and settling any claims of or against the Company, the Board
    of Directors, holders of the Company’s securities or the Company’s representatives or properties.

   

  
    7

    
      
 

  

   

  SECTION 5.      BANK ACCOUNTS.

   

  The Manager may establish and maintain one or more bank accounts in the name of the Company or any Subsidiary (any such account, a “Company
      Account”), and may collect and deposit funds into any such Company Account or Company Accounts, and disburse funds from any such Company Account or Company Accounts; and the Manager shall from time to time render appropriate accountings of such
    collections and payments to the Board of Directors and, upon request, to the auditors of the Company or any Subsidiary.

   

  SECTION 6.      RECORDS; CONFIDENTIALITY.

   

  The Manager shall maintain appropriate books of accounts and records relating to services performed under this Agreement, and such books of
    account and records shall be accessible for inspection by representatives of the Company at any time during normal business hours upon ten (10) business days advance written notice. The Manager shall keep confidential any and all non-public information
    obtained in connection with the services rendered under this Agreement and shall not disclose any such information to any person, except to (i) its affiliates, members, officers, directors, employees, agents, representatives or advisors who have a need
    to know such information in order to carry out their duties to the Company and who have a duty to the Manager or to the Company to keep such information confidential, (ii) to appraisers, financing sources and others in the ordinary course of the
    Manager’s business for the purpose of rendering services hereunder, provided that such persons agree to keep such information confidential, (iii) in connection with any governmental or regulatory requests of the Manager and any of its affiliates,
    members, officers, directors, employees, agents, representatives or advisors, (v) as required by applicable law or regulation or (vi) with the prior written consent of the Board of Directors.

   

  SECTION 7.      OBLIGATIONS OF MANAGER;
    RESTRICTIONS.

   

  (a)           The Manager shall use commercially reasonable
    efforts to require each seller or transferor of assets to the Company to make such representations and warranties regarding such assets as may, in the sole judgment made in good faith of the Manager, be necessary and appropriate. In addition, the
    Manager shall take such other action as it deems necessary or appropriate with regard to the protection of the Company’s assets and investments.

   

  (b)           The Manager shall refrain from any action that, in
    its sole judgment made in good faith, (i) is not in compliance with policies approved by the Board of Directors or (ii) would violate any law, rule or regulation of any governmental body or agency having jurisdiction over the Company or any Subsidiary
    or that would otherwise not be permitted by such entity’s Governing Instruments. If the Manager is ordered to take any such action by the Board of Directors, the Manager shall promptly notify the Board of Directors of the Manager’s judgment that such
    action would adversely affect such status or violate any such law, rule or regulation or the Governing Instruments. Notwithstanding the foregoing, the Manager, its directors, officers, shareholders and employees shall not be liable to the Company or
    any Subsidiary, the Board of Directors, or the Company’s or any Subsidiary’s shareholders or partners for any act or omission by the Manager, its directors, officers, shareholders or employees except as provided in Section 11 of this Agreement.

   

  
    8

    
      
 

  

   

  (c)           The Manager shall at all times during the term of
    this Agreement (including the Original Term and any renewal term) maintain a tangible net worth equal to or greater than $1,000,000. Additionally, during such period the Manager shall maintain “errors and omissions” insurance coverage and other
    insurance coverage which is customarily carried by asset and investment managers performing functions similar to those of the Manager under this Agreement with respect to assets similar to the assets of the Company, in an amount which is comparable to
    that customarily maintained by other managers or servicers of similar assets.

   

  SECTION 8.      COMPENSATION.

   

  (a)           Management Fee. During the term of this
    Agreement (as the same may be extended from time to time), the Manager will receive an annual management fee (the “Management Fee”) equal to 1.50% of the Company’s “Total Equity.” The Management Fee shall be calculated and paid monthly in
    arrears based upon the average of the Total Equity of the Company for the two most recently completed months. The term “Total Equity” for any month means the equity value of the Company, determined on a consolidated basis in accordance with GAAP
    (including any preferred equity), but reduced proportionately in the case of a Subsidiary to the extent that the Company owns, directly or indirectly, less than 100% of the equity interests in such Subsidiary. The Management Fee for any partial month
    shall be appropriately pro-rated. With respect to the first and second payment of the Management Fee following the Spin Date, Total Equity of the Company for any portion of the measurement period occurring prior to the Spin Date shall be determined by
    considering only the FTAI Infrastructure Assets and Liabilities.

   

  (b)           The Manager shall compute each installment of the
    Management Fee within 15 days after the end of the month with respect to which such installment is payable, and such installment shall be due and payable no later than the date which is 20 days after the end of the month with respect to which such
    installment is payable. A copy of the computations made by the Manager to calculate such installment shall thereafter, for informational purposes only and subject in any event to Section 13(a) of this Agreement, promptly be delivered to the Board of
    Directors within 90 days after the end of each calendar year.

   

  (c)           The Management Fee is subject to adjustment
    pursuant to and in accordance with the provisions of Section 13(a) of this Agreement.

   

  (d)           Upon the successful completion of an offering of
    Common Stock or other equity securities by the Company (including the issuance of Common Stock as consideration in connection with an Acquisition), the Company shall pay and issue to the Manager options to purchase Common Stock in an amount equal to
    10% of the number of shares of Common Stock sold in the offering or issued in connection with such Acquisition (or, if the issuance relates to equity securities other than Common Stock, options to purchase a number of Common Stock equal to 10% of the
    gross capital raised in the equity issuance, divided by the fair market value of a share of Common Stock as of the date of issuance), with an exercise price equal to the price per share of Common Stock paid by the public or other ultimate purchaser in
    the offering or attributed to such Common Stock in connection with an Acquisition (or, in the case of equity securities other than Common Stock, the fair market value of a share of Common Stock as of the date of equity issuance). For the avoidance of
    doubt, the initial public offering of Common Stock shall not constitute an “offering” for purposes of this Section 8(d).

   

  
    9

    
      
 

  

   

  (e)           Income Incentive Fee. The Manager will be
    paid an income incentive fee (an “Income Incentive Fee”) with respect to Pre-Incentive Fee Net Income in each calendar quarter as follows, provided, however, for any period of less than three months the amount paid as an Income Incentive Fee
    shall be prorated to reflect such shorter period.

   

  (i)           No Income Incentive Fee in any calendar quarter in
    which Pre-Incentive Fee Net Income, expressed as a rate of return on the average value of the Company’s net equity capital at the end of the two most recently completed calendar quarters (including, for the avoidance of doubt, the quarter with respect
    to which such amount is being calculated ), does not exceed 2.0% for such quarter (8.0% annualized);

   

  (ii)          100% of Pre-Incentive Fee Net Income with respect to
    that portion of such Pre-Incentive Fee Net Income, if any, that expressed as a rate of return on the average value of the Company’s net equity capital at the end of the two most recently completed calendar quarters (including, for the avoidance of
    doubt, the quarter with respect to which such amount is being calculated ), equals or exceeds 2.00% but does not exceed 2.2223% for such quarter; and

   

  (iii)         10% of Pre-Incentive Fee Net Income with respect to
    that portion of such Pre-Incentive Fee Net Income, if any, that, expressed as a rate of return on the average value of the Company’s net equity capital at the end of the two most recently completed calendar quarters (including, for the avoidance of
    doubt, the quarter with respect to which such amount is being calculated ), exceeds 2.2223%.

   

  (f)            Capital Gains Incentive Fee. The Manager
    shall be paid a capital gains incentive allocation (a “Capital Gains Incentive Fee”) in arrears as of the end of each calendar year equal to 10.0% of the Company’s pro rata share of cumulative realized gains from the Spin Date through the end of
    such calendar year, net of the following, without duplication, (i) cumulative realized or unrealized losses and the cumulative non-cash portion of equity-based compensation expenses, in each case, for such period (the “Loss Carryforward”) and
    (ii) all realized gains upon which prior performance-based Capital Gains Incentive Fees were previously paid to the Manager since the Spin Date. As of the Spin Date, the Loss Carryforward shall be an amount equal to the portion of the cumulative
    realized or unrealized losses and cumulative non-cash portion of equity based compensation expenses of FTAI attributable to the FTAI Infrastructure Assets and Liabilities from the IPO Date through the Spin Date, measured as of the open of business on
    the Spin Date. Further, as of the Spin Date, the Company’s pro rata share of cumulative realized gains from the Spin Date shall be an amount equal to FTAI’s pro rata share of cumulative realized gains attributable to the FTAI Infrastructure Assets and
    Liabilities from the IPO Date through the Spin Date minus all realized gains attributable to the FTAI Infrastructure Assets and Liabilities upon which prior performance-based capital gains incentive allocations we previously paid to the Manager or an
    affiliate thereof pursuant to the Operating Agreement.

   

  SECTION 9.      EXPENSES OF THE COMPANY.

   

  The Company shall pay all of its expenses and shall reimburse the Manager or (for the avoidance of doubt) its affiliates for documented expenses
    of the Manager or its affiliates incurred on its behalf (collectively, the “Expenses”). Expenses include all costs and expenses which are expressly designated elsewhere in this Agreement as the Company’s, together with the following:

   

  (a)           expenses in connection with the issuance and
    transaction costs incident to the acquisition, disposition and financing of Acquisitions;

   

  
    10

    
      
 

  

   

  (b)           travel and other out-of-pocket expenses incurred by
    managers, officers, employees and agents of the Manager or its affiliates in connection with the sourcing, underwriting, purchase, financing, refinancing, sale or other disposition, or asset management of an Acquisition;

   

  (c)           costs of legal, accounting, tax, auditing,
    underwriting, asset management, sourcing, administrative and other services rendered for the Company by providers retained by the Manager or its affiliates or, if provided by the Manager’s or any affiliate’s employees, consultants or agents in amounts
    which are no greater than those which would be payable to outside professionals or consultants engaged to perform such services pursuant to agreements negotiated on an arm’s-length basis;

   

  (d)           the compensation and expenses of the Independent
    Directors and the cost of liability insurance to indemnify the Company’s directors and officers;

   

  (e)           compensation and expenses of the Company’s
    custodian and transfer agent, if any;

   

  (f)            costs associated with the establishment and
    maintenance of any credit facilities and other indebtedness of the Company (including commitment fees, legal fees, closing and other costs) or any securities offerings of the Company;

   

  (g)           costs associated with any computer software or
    hardware that is used for the Company;

   

  (h)           costs and expenses incurred in contracting with
    third parties, including affiliates of the Manager, in accordance with the terms of this Agreement;

   

  (i)            all other costs and expenses relating to the
    Company’s business and investment operations, including, without limitation, the costs and expenses of sourcing, underwriting, acquiring, financing, refinancing, owning, protecting, maintaining, developing, operating and disposing of Acquisitions,
    including appraisal, reporting, audit and legal fees;

   

  (j)            all insurance costs incurred in connection with
    the operation of the Company’s business except for the costs attributable to the insurance that the Manager elects to carry for itself and its employees;

   

  (k)           expenses relating to any office or office
    facilities maintained for the Company or Acquisitions separate from the office or offices of the Manager;

   

  (l)            expenses connected with the payments of interest,
    dividends or distributions in cash or any other form made or caused to be made by the Board of Directors to or on account of the holders of securities of the Company or its Subsidiaries, including, without limitation, in connection with any dividend
    reinvestment plan;

   

  
    11

    
      
 

  

   

  (m)          expenses connected with communications to holders of
    securities of the Company or its Subsidiaries and other bookkeeping and clerical work necessary in maintaining relations with holders of such securities and in complying with the continuous reporting and other requirements of governmental bodies or
    agencies, including, without limitation, all costs of preparing and filing required reports with the Securities and Exchange Commission, the costs payable by the Company to any transfer agent and registrar in connection with the listing and/or trading
    of the Company’s stock on any exchange, the fees payable by the Company to any such exchange in connection with its listing, costs of preparing, printing and mailing the Company’s annual report to its shareholders and proxy materials with respect to
    any meeting of the shareholders of the Company; and

   

  (n)           all other expenses actually incurred by the Manager
    which are reasonably necessary for the performance by the Manager of its duties and functions under this Agreement.

   

  Without regard to the amount of compensation received under this Agreement by the Manager, the Manager shall bear the following expenses, except as
    expressly set forth herein: (i) wages and salaries of the Manager’s officers and employees; (ii) rent attributable to the space occupied by the Manager; and (iii) all other “overhead” expenses of the Manager.

   

  SECTION 10.  CALCULATIONS OF EXPENSES.

   

  The Manager shall prepare a statement documenting the Expenses of the Company and the Expenses incurred by the Manager on behalf of the Company
    during each calendar month, and shall deliver such statement to the Company in the ordinary course of periodic accounting. Expenses incurred by the Manager on behalf of the Company shall be reimbursed monthly to the Manager on the later of (i) the
    first business day of the month immediately following the date of delivery of such statement and (ii) 10 business days after the date of delivery of such statement.

   

  SECTION 11.  LIMITS OF MANAGER RESPONSIBILITY;
    INDEMNIFICATION.

   

  (a)                The Manager assumes no responsibility under
    this Agreement other than to render the services called for under this Agreement in good faith and shall not be responsible for any action of the Board of Directors in following or declining to follow any advice or recommendations of the Manager,
    including as set forth in Section 7(b) of this Agreement. The Manager, its members, managers, officers and employees, sub-advisers and each other Person, if any, controlling the Manager, will not be liable to the Company or any Subsidiary, to the Board
    of Directors, or the Company’s or any Subsidiary’s shareholders or partners for any acts or omissions by the Manager, its members, managers, officers or employees, sub-advisers or each other Person, if any, controlling the Manager, pursuant to or in
    accordance with this Agreement, except by reason of acts constituting bad faith, willful misconduct, gross negligence or reckless disregard of the Manager’s duties under this Agreement. The Company shall, to the full extent lawful, reimburse, indemnify
    and hold the Manager, its members, managers, officers and employees, sub-advisers and each other Person, if any, controlling the Manager (each, an “Indemnified Party”), harmless of and from any and all expenses, losses, damages, liabilities,
    demands, charges and claims of any nature whatsoever (including attorneys’ fees) in respect of or arising from any acts or omissions of such Indemnified Party made in good faith in the performance of the Manager’s duties under this Agreement and not
    constituting such Indemnified Party’s bad faith, willful misconduct, gross negligence or reckless disregard of the Manager’s duties under this Agreement.

   

  
    12

    
      
 

  

   

  (b)           The Manager shall, to the full extent lawful,
    reimburse, indemnify and hold the Company, its members, shareholders, directors, officers and employees and each other Person, if any, controlling the Company (each, a “Company Indemnified Party”), harmless of and from any and all expenses,
    losses, damages, liabilities, demands, charges and claims of any nature whatsoever (including attorneys’ fees) in respect of or arising from the Manager’s bad faith, willful misconduct, gross negligence or reckless disregard of its duties under this
    Agreement.

   

  SECTION 12.  NO JOINT VENTURE.

   

  Nothing in this Agreement shall be construed to make the Company and the Manager partners or joint venturers or impose any liability as such on
    either of them.

   

  SECTION 13.  TERM; TERMINATION.

   

  (a)           Unless terminated in accordance with Section 14 or
    Section 15, this Agreement shall be in effect until the date that is six (6) years after the date hereof (the “Original Term”). At the expiration of the Original Term and each Renewal Term (as defined below), this Agreement shall be deemed
    renewed automatically each year for an additional one-year period (each, a “Renewal Term”) unless (i) a majority consisting of at least two-thirds of the Independent Directors or a simple majority of the holders of outstanding Common Stock,
    agree that there has been unsatisfactory performance that is materially detrimental to the Company or (ii) a simple majority of the Independent Directors agree that the Management Fee payable to the Manager is unfair; provided, that the Company shall
    not have the right to terminate this Agreement under clause (ii) if the Manager agrees to continue to provide the services under this Agreement at a fee that a simple majority of the Independent Directors have reasonably determined to be fair. If the
    Company elects not to renew this Agreement at the expiration of the Original Term or any Renewal Term, the Company shall deliver to the Manager prior written notice (the “Termination Notice”) of the Company’s intention not to renew this
    Agreement based upon the terms set forth in this Section 13(a) of this Agreement not less than 60 days prior to the expiration of the then existing term. If the Company so elects not to renew this Agreement, the Company shall designate the date (the “Effective

      Termination Date”), not less than 60 days from the date of the notice, on which the Manager shall cease to provide services under this Agreement and this Agreement shall terminate on such date; provided, however, that in the event that such
    Termination Notice is given in connection with a determination that the compensation payable to the Manager is unfair, the Manager shall have the right to renegotiate the Management Fee by delivering to the Company, no fewer than forty-five (45) days
    prior to the prospective Effective Termination Date, written notice (any such notice, a “Notice of Proposal to Negotiate”) of its intention to renegotiate its compensation under this Agreement. Thereupon, the Company and the Manager shall
    endeavor to negotiate in good faith the revised compensation payable to the Manager under this Agreement. Provided that the Manager and the Company agree to a revised Management Fee (or other compensation structure) within 45 days following the receipt
    of the Notice of Proposal to Negotiate, the Termination Notice shall be deemed of no force and effect and this Agreement shall continue in full force and effect on the terms stated in this Agreement, except that the Management Fee shall be the revised
    Management Fee (or other compensation structure) then agreed upon by the parties to this Agreement. The Company and the Manager agree to execute and deliver an amendment to this Agreement setting forth such revised Management Fee promptly upon reaching
    an agreement regarding same. In the event that the Company and the Manager are unable to agree to a revised Management Fee during such 45 day period, this Agreement shall terminate, such termination to be effective on the date which is the later of (A)
    ten (10) days following the end of such 45 day period and (B) the Effective Termination Date originally set forth in the Termination Notice.

   

  
    13

    
      
 

  

   

  (b)           In the event that this Agreement is terminated in
    accordance with the provisions of Section 13(a) of this Agreement, the Company shall pay to the Manager, on the date on which such termination is effective, a termination fee (the “Termination Fee”) equal to (i) the amount of the Management Fee
    earned by the Manager during the period consisting of the twelve (12) full, consecutive calendar months immediately preceding such termination and (ii) the amount of the Income Incentive Fee and the Capital Gains Incentive Fee as if the Company’s
    assets were sold for cash at their then current fair market value (as determined by an appraisal, taking into account, among other things, the expected future value of the underlying investments). The obligation of the Company to pay the Termination
    Fee shall survive the termination of this Agreement.

   

  (c)           No later than sixty (60) days prior to the
    expiration of the Original Term or any Renewal Term, the Manager may deliver written notice to the Company informing it of the Manager’s intention not to renew the term, whereupon the Term of this Agreement shall not be renewed and extended and this
    Agreement shall terminate effective on the expiration date of this Agreement next following the delivery of such notice.

   

  (d)           If this Agreement is terminated pursuant to this
    Section 13, such termination shall be without any further liability or obligation of either party to the other, except as provided in Section 13(b) and Section 16 of this Agreement. In addition, Section 11 of this Agreement shall survive termination of
    this Agreement.

   

  SECTION 14.  ASSIGNMENT.

   

  (a)           Except as set forth in Section 14(b) of this
    Agreement, this Agreement shall terminate automatically in the event of its assignment, in whole or in part, by the Manager, unless such assignment is consented to in writing by the Company with the consent of a majority of the Independent Directors;
    provided, however, that no such consent shall be required in the case of an assignment by the Manager to an entity whose business and operations are managed or supervised by Mr. Wesley R. Edens (the “Principal”). Any such permitted assignment
    shall bind the assignee under this Agreement in the same manner as the Manager is bound, and the Manager shall be liable to the Company for all errors or omissions of the assignee under any such assignment. In addition, the assignee shall execute and
    deliver to the Company a counterpart of this Agreement naming such assignee as Manager. This Agreement shall not be assigned by the Company without the prior written consent of the Manager, except in the case of assignment by the Company to a successor
    to the Company (by merger, consolidation or purchase of assets), in which case such successor organization shall be bound under this Agreement and by the terms of such assignment in the same manner as the Company is bound under this Agreement.

   

  (b)           Notwithstanding any provision of this Agreement,
    the Manager may subcontract and assign any or all of its responsibilities under Section 2 of this Agreement to any of its affiliates in accordance with the terms of this Agreement or as otherwise approved by the Board,
    and the Company hereby consents to any such assignment and subcontracting. In addition, provided that the Manager provides prior written notice to the Company for informational purposes only, nothing contained in this Agreement shall preclude
    any pledge, hypothecation or other transfer of any amounts payable to the Manager under this Agreement.

   

  
    14

    
      
 

  

   

  SECTION 15.  TERMINATION FOR CAUSE.

   

  (a)           The Company may terminate this Agreement effective
    upon sixty (60) days prior written notice of termination from the Company to the Manager, without payment of any Termination Fee, if any act of fraud, misappropriation of funds, or embezzlement against the Company or other willful violation of this
    Agreement by the Manager in its corporate capacity (as distinguished from the acts of any employees of the Manager which are taken without the complicity of the Principal) under this Agreement or in the event of any gross negligence on the part of the
    Manager in the performance of its duties under this Agreement.

   

  (b)           The Manager may terminate this Agreement effective
    upon sixty (60) days prior written notice of termination to the Company in the event that the Company shall default in the performance or observance of any material term, condition or covenant contained in this Agreement and such default shall continue
    for a period of 30 days after written notice thereof specifying such default and requesting that the same be remedied in such 30 day period.

   

  SECTION 16.  ACTION UPON TERMINATION.

   

  (a)           From and after the effective date of termination of
    this Agreement, pursuant to Sections 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated
    pursuant to Section 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:

   

  (i)           after deducting any accrued compensation and
    reimbursement for its expenses to which it is then entitled, pay over to the Company or a Subsidiary all money collected and held for the account of the Company or a Subsidiary pursuant to this Agreement;

   

  (ii)          deliver to the Board of Directors a full accounting,
    including a statement showing all payments collected by it and a statement of all money held by it, covering the period following the date of the last accounting furnished to the Board of Directors with respect to the Company or a Subsidiary; and

   

  (iii)         deliver to the Board of Directors all property and
    documents of the Company or any Subsidiary then in the custody of the Manager.

   

  SECTION 17.  RELEASE OF MONEY OR OTHER PROPERTY
    UPON WRITTEN REQUEST.

   

  The Manager agrees that any money or other property of the Company or Subsidiary held by the Manager under this Agreement shall be held by the
    Manager as custodian for the Company or Subsidiary, and the Manager’s records shall be appropriately marked clearly to reflect the ownership of such money or other property by the Company or such Subsidiary. Upon the receipt by the Manager of a written
    request signed by a duly authorized officer of the Company requesting the Manager to release to the Company or any Subsidiary any money or other property then held by the Manager for the account of the Company or any Subsidiary under this Agreement,
    the Manager shall release such money or other property to the Company or any Subsidiary within a reasonable period of time, but in no event later than sixty (60) days following such request. The Manager shall not be liable to the Company, any
    Subsidiary, the Independent Directors, or the Company’s or a Subsidiary’s shareholders or partners for any acts performed or omissions to act by the Company or any Subsidiary in connection with the money or other property released to the Company or any
    Subsidiary in accordance with the first sentence of this Section 17. The Company and any Subsidiary shall indemnify the Manager and its members, managers, officers and employees against any and all expenses, losses, damages, liabilities, demands,
    charges and claims of any nature whatsoever, which arise in connection with the Manager’s release of such money or other property to the Company or any Subsidiary in accordance with the terms of this Section 17. Indemnification pursuant to this
    provision shall be in addition to any right of the Manager to indemnification under Section 11 of this Agreement.

   

  
    15

    
      
 

  

   

  SECTION 18.  NOTICES.

   

  Unless expressly provided otherwise in this Agreement, all notices, requests, demands and other communications required or permitted under this
    Agreement shall be in writing and shall be deemed to have been duly given, made and received when delivered against receipt or upon actual receipt of (i) personal delivery, (ii) delivery by reputable overnight courier, (iii) delivery by facsimile
    transmission or email against answerback, (iv) delivery by registered or certified mail, postage prepaid, return receipt requested, addressed as set forth below:

   

  (a)           If to the Company:

   

  FTAI Infrastructure Inc.

    c/o FIG LLC

    1345 Avenue of the Americas

    45th Floor

    New York, New York 10105

    Attention: Mr. Ken Nicholson

    Attention: Mr. Kevin Krieger

   

  (b)           If to the Manager:

   

  FIG LLC

    1345 Avenue of the Americas

    46th Floor

    New York, New York 10105

    Attention: Mr. Randal A. Nardone

    Attention: Mr. David Brooks

   

  Either party may alter the address to which communications or copies are to be sent by giving notice of such change of address in conformity with the provisions of
    this Section 18 for the giving of notice.

   

  
    16

    
      
 

  

   

  SECTION 19.  BINDING NATURE OF AGREEMENT;
    SUCCESSORS AND ASSIGNS.

   

  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal representatives,
    successors and permitted assigns as provided in this Agreement.

   

  SECTION 20.  ENTIRE AGREEMENT.

   

  This Agreement contains the entire agreement and understanding among the parties hereto with respect to the subject matter of this Agreement, and
    supersedes all prior and contemporaneous agreements, understandings, inducements and conditions, express or implied, oral or written, of any nature whatsoever with respect to the subject matter of this Agreement. The express terms of this Agreement
    control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms of this Agreement. This Agreement may not be modified or amended other than by an agreement in writing.

   

  SECTION 21.  CONTROLLING LAW.

   

  This Agreement and all questions relating to its validity, interpretation, performance and enforcement shall be governed by and construed,
    interpreted and enforced in accordance with the laws of the State of New York, notwithstanding any New York or other conflict-of-law provisions to the contrary.

   

  SECTION 22.  INDULGENCES, NOT WAIVERS.

   

  Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a
    waiver thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or
    privilege with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted
    such waiver.

   

  SECTION 23.  TITLES NOT TO AFFECT
    INTERPRETATION.

   

  The titles of paragraphs and subparagraphs contained in this Agreement are for convenience only, and they neither form a part of this Agreement
    nor are they to be used in the construction or interpretation of this Agreement.

   

  SECTION 24.  EXECUTION IN COUNTERPARTS.

   

  This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as against any party whose signature
    appears thereon, and all of which shall together constitute one and the same instrument. This Agreement shall become binding when one or more counterparts of this Agreement, individually or taken together, shall bear the signatures of all of the
    parties reflected hereon as the signatories.

   

  
    17

    
      
 

  

   

  SECTION 25.  PROVISIONS SEPARABLE.

   

  The provisions of this Agreement are independent of and separable from each other, and no provision shall be affected or rendered invalid or
    unenforceable by virtue of the fact that for any reason any other or others of them may be invalid or unenforceable in whole or in part.

   

  SECTION 26.  GENDER.

   

  Words used herein regardless of the number and gender specifically used, shall be deemed and construed to include any other number, singular or
    plural, and any other gender, masculine, feminine or neuter, as the context requires.

   

  
    18

    
      
 

  

   

  IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

   

  

  	 	COMPANY:
	 	 	 
	 	FTAI Infrastructure INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	      
	 		Name:

          
	 	 	Title:

          
	 	 	 
	 	MANAGER:
	 	 
	 	FIG LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	 
	 	 	Name:

          
	 	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}]]