Document:

Cheniere Energy Partners, L.P. Long-Term Incentive Plan

 Exhibit 10.3 
 CHENIERE ENERGY PARTNERS, L.P. 
 LONG-TERM INCENTIVE PLAN 
 1. Purpose of the Plan. 
 The Cheniere Energy
Partners, L.P. Long-Term Incentive Plan (the “Plan”) has been adopted by Cheniere Energy Partners GP, LLC, a Delaware limited liability company (the “Company”), the general partner of Cheniere Energy Partners, L.P.,
a Delaware limited partnership (the “Partnership”), and is intended to promote the interests of the Partnership and the Company and their Affiliates by providing to employees, consultants, and directors of the Company and employees
and consultants of its Affiliates who perform services for or on behalf of the Partnership and its subsidiaries incentive compensation awards for superior performance that are based on Units. The Plan is also contemplated to enhance the ability of
the Company and its Affiliates to attract and retain the services of individuals who are essential for the growth and profitability of the Partnership and its subsidiaries and to encourage them to devote their best efforts to advancing the business
of the Partnership and its subsidiaries. 
 2. Definitions. 
 As used in the Plan, the following terms shall have the meanings set forth below: 
 “Affiliate” means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used
herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.
Notwithstanding the immediately preceding two sentences, to the extent that Section 409A of the Code applies to Options or Unit Appreciation Rights granted under the Plan, the term “Affiliate” means all Persons with whom the Company
could be considered a single employer under Section 414(b) or Section 414(c) of the Code substituting “20 percent” in place of “80 percent” in determining a controlled group of corporations under
Section 414(b) of the Code and in determining trades or businesses (whether or not incorporated) that are under common control for purposes of Section 414(c) of the Code. 
 “Award” means an Option, Restricted Unit, Phantom Unit or Unit Appreciation Right granted under the Plan, and may include
tandem DERs granted with respect to an Option, Phantom Unit or Unit Appreciation Right. 
 “Award Agreement”
means the written agreement by which an Award shall be evidenced. 
 “Board” means the Board of Directors of
the Company. 
 “Change of Control” means, and shall be deemed to have occurred upon the occurrence of one or
more of the following events: (i) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Partnership or the Company to any Person and/or its
Affiliates, other than to the Partnership, the Company and/or any of their Affiliates; (ii) the consolidation, reorganization, merger or other transaction pursuant to which more than 50% of the voting power of the outstanding equity interests
in the Partnership or the Company cease to be owned by the Persons who own such interests as of the effective date of the initial public offering of Units; or (iii) the limited partners of the Company or the Partnership approve, in one or a
series of transactions, a plan of complete liquidation of the Company or the Partnership. 
 Solely with respect to any Award
that is subject to Section 409A of the Code and to the extent that the definition of change in control under Section 409A applies to limited liability companies and affects federal income taxation of an affected Award, this definition is
intended to comply with the definition of change in control under Section 409A of the Code and, to the extent 

 
that the above definition does not so comply, such definition shall be void and of no effect and, to the extent required to ensure that this definition
complies with the requirements of Section 409A of the Code, the definition of such term set forth in regulations or other regulatory guidance issued under Section 409A of the Code by the appropriate governmental authority is hereby
incorporated by reference into and shall form part of this Plan as fully as if set forth herein verbatim and the Plan shall be operated in accordance with the above definition of Change in Control as modified to the extent necessary to ensure that
the above definition complies with the definition prescribed in such regulations or other regulatory guidance insofar as the definition relates to any Award that is subject to Section 409A of the Code. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Committee” means the Board or such committee of the Board as may be appointed by the Board to administer the Plan.

 “Consultant” means an individual, other than an Employee or a Director, providing bona fide services to
the Partnership or any of its subsidiaries as a consultant or advisor, as applicable, provided that (i) such individual is a natural person, and (ii) the grant of an Award to such Person could not reasonably be expected to result in
adverse federal income tax consequences under Section 409A of the Code. 
 “DER” or
“Distribution Equivalent Right” means a contingent right, granted in tandem with a specific Option, Unit Appreciation Right or Phantom Unit, to receive an amount in cash equal to the cash distributions made by the Partnership with
respect to a Unit during the period such tandem Award is outstanding. 
 “Director” means a member of the
Board who is not an Employee. 
 “Disability” means an inability of the Participant to perform material
services for the Company for a period of 90 consecutive days or a total of 180 days, during any 365-day period, in either case as a result of incapacity due to mental or physical illness, which is determined to be total and permanent. A
determination of Disability shall be made by a physician satisfactory to both the Participant (or his guardian) and the Company, provided that if the Participant (or his guardian) and the Company do not agree on a physician, the Participant and the
Company shall each select a physician and these two together shall select a third physician, whose determination as to Disability shall be binding on all parties. Eligibility for disability benefits under any policy for long-term disability benefits
provided to the Participant by the Company shall conclusively establish the Participant’s Disability. 
 “Employee” means any employee of the Company or an Affiliate who performs services for the Partnership or its subsidiaries. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Fair Market Value” means the closing sales price of a Unit on the applicable date (or if there is no trading in the Units on such date, on the next preceding date on which there was trading) as reported in The Wall
Street Journal (or other reporting service approved by the Committee). In the event Units are not publicly traded at the time a determination of fair market value is required to be made hereunder, the determination of fair market value shall be
made in good faith by the Committee. 
 “Option” means an option to purchase Units granted under the Plan.

 “Participant” means any Employee, Consultant or Director granted an Award under the Plan. 
 “Person” means an individual or a corporation, limited liability company, partnership, joint venture, trust,
unincorporated organization, association, government agency or political subdivision thereof or other entity. 
 “Phantom Unit” means a phantom (notional) Unit granted under the Plan which upon vesting entitles the Participant to receive a Unit or an amount of cash equal to the Fair Market Value of a Unit. Whether cash or Units are
received for Phantom Units shall be determined in the sole discretion of the Committee and shall be set forth in the Award Agreement. 
  

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 “Restricted Period” means the period established by the Committee with
respect to an Award during which the Award remains subject to forfeiture or is either not exercisable by or payable to the Participant, as the case may be. 
 “Restricted Unit” means a Unit granted under the Plan that is subject to a Restricted Period. 
 “Rule 16b-3” means Rule 16b-3 promulgated by the SEC under the Exchange Act, or any successor rule or regulation thereto as in effect from time to time. 
 “SEC” means the Securities and Exchange Commission, or any successor thereto. 
 “UAR” of “Unit Appreciation Right” means an Award that, upon exercise, entitles the holder to receive
the excess of the Fair Market Value of a Unit on the exercise date over the exercise price established for such Unit Appreciation Right. Such excess may be paid in cash and/or in Units as determined in the sole discretion of the Committee and set
forth in the Award Agreement. 
 “UDR” or “Unit Distribution Right” means a distribution
made by the Partnership with respect to a Restricted Unit. 
 “Unit” means a common unit of the Partnership.

 3. Administration. 
 The Plan shall be
administered by the Committee. A majority of the Committee shall constitute a quorum, and the acts of the members of the Committee who are present at any meeting thereof at which a quorum is present, or acts unanimously approved by the members of
the Committee in writing, shall be the acts of the Committee. Subject to the terms of the Plan and applicable law, and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have full power
and authority to: (i) designate Participants; (ii) determine the type or types of Awards to be granted to a Participant; (iii) determine the number of Units to be covered by Awards; (iv) determine the terms and conditions of any
Award (including but not limited to performance requirements for such Award); (v) determine whether, to what extent, and under what circumstances Awards may be settled, exercised, canceled, or forfeited; (vi) interpret and administer the
Plan and any instrument or agreement relating to an Award made under the Plan; (vii) establish, amend, suspend, or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan;
and (viii) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations, and other decisions under or with respect to the Plan or any Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive, and binding upon all Persons, including the Company,
the Partnership, any Affiliate, any Participant, and any beneficiary of any Award. 
 4. Units. 
 (a) Limits on Units Deliverable. Subject to adjustment as provided in Section 4(c), the maximum number of Units that may be delivered
or reserved for delivery or underlying any Award with respect to the Plan is 1,250,000. If any Award expires, is canceled, exercised, paid or otherwise terminates without the delivery of Units, then the Units covered by such Award, to
the extent of such expiration, cancellation, exercise, payment or termination, shall again be Units with respect to which Awards may be granted. Units that cease to be subject to an Award because of the exercise of the Award, or the vesting of
Restricted Units or similar Awards, shall no longer be subject to or available for any further grant under this Plan. Notwithstanding the foregoing, there shall not be any limitation on the number of Awards that may be granted under the Plan and
paid in cash. 
  

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 (b) Sources of Units Deliverable Under Awards. Any Units delivered pursuant to an Award shall
consist, in whole or in part, of Units acquired in the open market, from any Affiliate, the Company or the Partnership or any other Person, or any combination of the foregoing as determined by the Committee in its sole discretion. 
 (c) Adjustments. In the event that any distribution (whether in the form of cash, Units, other securities, or other property), recapitalization,
split, reverse split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Units or other securities of the Partnership, issuance of warrants or other rights to purchase Units or other securities of the
Partnership, or other similar transaction or event affects the Units, then the Committee shall, in such manner as it may deem equitable, adjust any or all of (i) the number and type of Units (or other securities or property) with respect to
which Awards may be granted, (ii) the number and type of Units (or other securities or property) subject to outstanding Awards, and (iii) the grant or exercise price with respect to any Award or, make provision for a cash payment to the
holder of an outstanding Award; provided, that the number of Units subject to any Award shall always be a whole number and, provided further, that the Committee shall not take any action otherwise authorized under this subparagraph (c) to the
extent that such action would cause (A) the application of Section 409A of the Code to the Award or (B) create adverse tax consequences under Section 409A of the Code should that Code section apply to the Award. 
 5. Eligibility. 
 Any Employee, Consultant or Director
shall be eligible to be designated a Participant and receive an Award under the Plan. 
 6. Awards. 
 (a) Options. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom Options shall be granted, the
number of Units to be covered by each Option, whether DERs are granted with respect to such Option, the purchase price therefor and the conditions and limitations applicable to the exercise of the Option, including the following terms and conditions
and such additional terms and conditions, as the Committee shall determine, that are not inconsistent with the provisions of the Plan. 
 (i) Exercise Price. The purchase price per Unit purchasable under an Option shall be determined by the Committee at the time the Option is granted, provided such purchase price may not be less than 100% of its
Fair Market Value as of the date of grant. 
 (ii) Time and Method of Exercise. The Committee shall determine the time
or times at which an Option may be exercised in whole or in part, which may include, without limitation, accelerated vesting upon the achievement of specified performance goals, and the method or methods by which payment of the exercise price with
respect thereto may be made or deemed to have been made, which may include, without limitation, cash, check acceptable to the Company, a “cashless-broker” exercise through procedures approved by the Company, with the consent of the
Committee, the withholding of Units that would otherwise be delivered to the Participant upon the exercise of the Option, other securities or other property, or any combination thereof, having a fair market value (as determined by the Committee) on
the exercise date equal to the relevant exercise price. 
 (iii) Forfeiture. Except as otherwise provided in the terms
of the Award Agreement, upon termination of a Participant’s employment with or services to the Company and its Affiliates or membership on the Board, whichever is applicable, for any reason prior to the date an Option becomes vested, all
unvested Options shall be forfeited by the Participant. 
 (iv) DERs. To the extent provided by the Committee, in its
discretion, a grant of Options may include a tandem DER grant, which may provide that such DERs shall be credited to 

  

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a bookkeeping account (with or without interest in the discretion of the Committee) subject to the same vesting restrictions as the tandem Award, or be
subject to such other provisions or restrictions as determined by the Committee in its discretion. 
 (b) Restricted Units. The
Committee shall have the authority to determine the Employees, Consultants and Directors to whom Restricted Units shall be granted, the number of Restricted Units to be granted to each such Participant, the Restricted Period, the conditions under
which the Restricted Units may become vested or forfeited, and such other terms and conditions as the Committee may establish with respect to such Awards. 
 (i) UDRs. To the extent provided by the Committee, in its discretion, a grant of Restricted Units may provide that distributions made by the Partnership with respect to the Restricted Units shall be subject to
the same forfeiture and other restrictions as the Restricted Unit and, if restricted, such distributions shall be held, without interest, until the Restricted Unit vests or is forfeited with the UDR being paid or forfeited at the same time, as the
case may be. Absent such a restriction on the UDRs in the Award Agreement, UDRs shall be paid to the holder of the Restricted Unit without restriction. 
 (ii) Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon termination of a Participant’s employment with or services to the Company and its Affiliates or membership on the
Board, whichever is applicable, for any reason during the applicable Restricted Period, all outstanding Restricted Units awarded the Participant shall be automatically forfeited on such termination. The Committee may in its discretion, waive in
whole or in part such forfeiture with respect to a Participant’s Restricted Units. 
 (iii) Lapse of Restrictions.
Upon or as soon as reasonably practical following the vesting of each Restricted Unit, subject to the provisions of Section 8(b), the Participant shall be entitled to have the restrictions removed from his or her Unit certificate so that
the Participant then holds an unrestricted Unit. 
 (c) Phantom Units. The Committee shall have the authority to determine the
Employees, Consultants and Directors to whom Phantom Units shall be granted, the number of Phantom Units to be granted to each such Participant, the Restricted Period, the time or conditions under which the Phantom Units may become vested or
forfeited, which may include, without limitation, the accelerated vesting upon the achievement of specified performance goals, and such other terms and conditions as the Committee may establish with respect to such Awards, including whether DERs are
granted with respect to such Phantom Units. 
 (i) DERs. To the extent provided by the Committee, in its discretion, a
grant of Phantom Units may include a tandem DER grant, which may provide that such DERs shall be credited to a bookkeeping account (with or without interest in the discretion of the Committee) subject to the same vesting restrictions as the tandem
Award, or be subject to such other provisions or restrictions as determined by the Committee in its discretion. 
 (ii)
Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon termination of a Participant’s employment with or services to the Company and its Affiliates or membership on the Board, whichever is applicable, for any
reason during the applicable Restricted Period, all unvested outstanding Phantom Units awarded the Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or in part such forfeiture with
respect to a Participant’s Phantom Units. 
 (iii) Lapse of Restrictions. Upon or as soon as reasonably practical
following the vesting of each Phantom Unit, subject to the provisions of Section 8(b), the Participant shall be entitled to receive from the Company one Unit or cash equal to the Fair Market Value of a Unit, as determined by the
Committee in its discretion. 
  

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 (d) Unit Appreciation Rights. The Committee shall have the authority to determine the Employees,
Consultants and Directors to whom Unit Appreciation Rights shall be granted, the number of Units to be covered by each grant and the conditions and limitations applicable to the exercise of the Unit Appreciation Right, including the following terms
and conditions and such additional terms and conditions, as the Committee shall determine, that are not inconsistent with the provisions of the Plan. 
 (i) Exercise Price. The exercise price per Unit Appreciation Right shall be not less than 100% of its Fair Market Value as of the date of grant. 
 (ii) Vesting/Time of Payment. The Committee shall determine the time or times at which a Unit Appreciation Right shall become
vested and exercisable and the time or times at which a Unit Appreciation Right shall be paid in whole or in part (and any payments shall be subject to the provisions of Section 8(b). 
 (iii) Forfeitures. Except as otherwise provided in the terms of the Award Agreement, upon termination of a Participant’s
employment with or services to the Company and its Affiliates or membership on the Board, whichever is applicable, for any reason prior to vesting, all unvested Unit Appreciation Rights awarded the Participant shall be automatically forfeited on
such termination. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Unit Appreciation Rights, in which case, such Unit Appreciation Rights shall be deemed vested upon termination of
employment or service and paid as soon as administratively practical thereafter. 
 (iv) Unit Appreciation Right DERs.
To the extent provided by the Committee, in its discretion, a grant of Unit Appreciation Rights may include a tandem DER grant, which may provide that such DERs shall be credited to a bookkeeping account (with or without interest in the discretion
of the Committee) subject to the same vesting restrictions as the tandem Unit Appreciation Rights Award, or be subject to such other provisions or restrictions as determined by the Committee in its discretion. 
 (e) General. 
 (i)
Awards May Be Granted Separately or Together. Awards may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution for any other Award granted under the Plan or any award granted under
any other plan of the Company or any Affiliate. No Award shall be issued in tandem with another Award if the tandem Awards would result in adverse tax consequences under Section 409A of the Code. Awards granted in addition to or in tandem with
other Awards or awards granted under any other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 
 (ii) Limits on Transfer of Awards. 
 (A) Except as provided in Section 6(e)(ii)(C) below, each Award shall be exercisable or payable only to the Participant during the Participant’s lifetime, or to the person to whom the
Participant’s rights shall pass by will or the laws of descent and distribution. 
 (B) Except as provided in
Section 6(e)(ii)(C) below, no Award and no right under any such Award may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge,
attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate. 
  

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 (C) To the extent specifically provided by the Committee with respect to an Award, an
Award may be transferred by a Participant without consideration to immediate family members or related family trusts, limited partnerships or similar entities or on such terms and conditions as the Committee may from time to time establish.

 (iii) Term of Awards. The term of each Award shall be for such period as may be determined by the Committee, but
shall not exceed 10 years. 
 (iv) Unit Certificates. All certificates for Units or other securities of the Partnership
delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the
SEC, any stock exchange upon which such Units or other securities are then listed, and any applicable federal or state laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such
restrictions. 
 (v) Consideration for Grants. Awards may be granted for such consideration, including services, as the
Committee determines. 
 (vi) Delivery of Units or other Securities and Payment by Participant of Consideration.
Notwithstanding anything in the Plan or any Award Agreement to the contrary, delivery of Units pursuant to the exercise or vesting of an Award may be deferred for any period during which, in the good faith determination of the Committee, the Company
is not reasonably able to obtain Units to deliver pursuant to such Award without violating the rules or regulations of any applicable law or securities exchange. No Units or other securities shall be delivered pursuant to any Award until payment in
full of any amount required to be paid pursuant to the Plan or the applicable Award grant agreement (including, without limitation, any exercise price or tax withholding) is received by the Company. 
 (vii) Change in Control. Unless specifically provided otherwise in the Award Agreement, upon a Change in Control or such time prior
thereto as established by the Committee, all outstanding Awards shall automatically vest or become exercisable in full, as the case may be. In this regard, all Restricted Periods shall terminate and all performance criteria, if any, shall be deemed
to have been achieved at the maximum level. 
 Except as otherwise provided in the Award Agreement, any positive
“spread” (determined based on the Fair Market Value of Units on the payment date) on an Option or UAR that is or becomes fully vested and exercisable as of the date of a Change in Control (or any earlier date related to the Change in
Control and established by the Committee) shall be paid in a single payment in Units, or cash and/or other property, or any combination of Units and cash and/or other property, as determined by the Committee. Except as otherwise provided in the
Award Agreement, any Award of Phantom Units or Restricted Units that pursuant to this Section 6(e)(vii) are deemed to have the applicable Restriction Period lapse (and to have all applicable performance criteria achieved at the maximum
level, if any) as of the date of a Change in Control (or any earlier date related to the Change in Control and established by the Committee), shall be settled by (i) issuance of unrestricted Units based on the number of Units that were subject
to the Award on the date of grant of the Award or (ii) payment of cash and/or other property equal to the Fair Market Value of a Unit on the payout date for each Phantom Unit or Restricted Unit or (iii) any combination of payouts under
clauses (i) and (ii) of this sentence, as determined by the Committee. Any accelerated payout pursuant to this Section 6(e)(vii) shall be made in a single payment within 30 days after the date of the Change in Control.

 To the extent an Option or UAR is not vested or exercisable, or a Phantom Unit or Restricted Unit does not vest, pursuant
to the preceding provisions of this Section 6(e)(vii) or the Award Agreement upon the Change in Control, the Committee may, in its discretion, cancel such Award or provide for an assumption of such Award or a replacement grant on
substantially the 

  

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same terms; provided, however, upon any cancellation of an Option or UAR that has a positive “spread” or a Phantom Unit or Restricted Unit, the
holder shall be paid an amount in Units or cash and/or other property or any combination of cash and/or other property, as determined by the Committee, equal to such “spread” if an Option or UAR or equal to the Fair Market Value of a Unit,
if a Phantom Unit or Restricted Unit. 
 (viii) Section 409A of the Code. Notwithstanding any other provision of
the Plan to the contrary, any Award granted under the Plan shall contain terms that (i) are designed to avoid application of Section 409A of the Code to the Award or (ii) are designed to avoid adverse tax consequences under
Section 409A should that Code section apply to the Award. 
 7. Amendment and Termination. 
 Except to the extent prohibited by applicable law: 
 (a) Amendments to the Plan. Except as required by the rules of the principal securities exchange on which the Units are traded and subject to Section 7(b) below, the Committee may amend, alter, suspend, discontinue, or
terminate the Plan in any manner, including increasing the number of Units available for Awards under the Plan, without the consent of any Participant other holder or beneficiary of an Award, or other Person. 
 (b) Amendments to Awards Subject to Section 7(a). The Committee may waive any conditions or rights under, amend any terms of, or alter
any Award theretofore granted, provided no change in any Award shall materially reduce the benefit to a Participant without the consent of such Participant. 
 8. General Provisions. 
 (a) No Rights to Award. No Person shall have any claim to be granted any Award under the
Plan, and there is no obligation for uniformity of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each recipient. 
 (b) Tax Withholding. The Company or any Affiliate is authorized to withhold from any Award, from any payment due or transfer made under any Award or from any compensation or other amount owing to a Participant
the amount (in cash, Units, other securities, or other property) of any applicable taxes payable at the minimum statutory rate in respect of the grant of an Award, its exercise, the lapse of restrictions thereon, or any payment or transfer under an
Award or under the Plan and to take such other action as may be necessary in the opinion of the Company to satisfy its withholding obligations for the payment of such taxes. 
 (c) No Right to Employment or Services. The grant of an Award shall not be construed as giving a Participant the right to be retained in the
employ of the Company or any Affiliate, to continue as a consultant, or to remain on the Board, as applicable. Further, the Company or an Affiliate may at any time dismiss a Participant from employment or terminate a consulting relationship, free
from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan, any Award Agreement or other agreement. 
 (d) Governing Law. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with the laws of the State of Delaware without regard to its conflict of laws
principles. 
 (e) Section 409A of the Code. Notwithstanding anything in this Plan to the contrary, any Award granted under the
Plan shall contain terms that (i) are designed to avoid application of Section 409A of the Code to the Award or (ii) are designed to avoid adverse tax consequences under Section 409A of the Code should that section apply to the
Award. If any Plan provision or Award under the Plan 

  

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would result in the imposition of an applicable tax under Section 409A of the Code and related regulations and pronouncements, that Plan provision or
Award will be reformed to the extent reformation would avoid imposition of the applicable tax and no action taken to comply with Section 409A of the Code shall be deemed to adversely affect the Participant’s rights to an Award or to
require the Participant’s consent. 
 (f) Severability. If any provision of the Plan or any award is or becomes or is deemed to
be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the
applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, person or award and
the remainder of the Plan and any such Award shall remain in full force and effect. 
 (g) Other Laws. The Committee may refuse to
issue or transfer any Units or other consideration under an Award if, in its sole discretion, it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or regulation, the rules of the
principal securities exchange on which the Units are then traded, or entitle the Partnership or an Affiliate to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the Company by a Participant, other holder or
beneficiary in connection with the exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary. 
 (h) No Trust or Fund Created. Neither the Plan nor any award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Partnership, Company or any participating Affiliate and
a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Partnership, Company or any participating Affiliate pursuant to an Award, such right shall be no greater than the right of any general
unsecured creditor of the Partnership, Company or any participating Affiliate. 
 (i) No Fractional Units. No fractional Units shall
be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash, other securities, or other property shall be paid or transferred in lieu of any fractional Units or whether such fractional Units or any rights
thereto shall be canceled, terminated, or otherwise eliminated. 
 (j) Headings. Headings are given to the Sections and subsections of
the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. 
 (k) Facility Payment. Any amounts payable hereunder to any person under legal disability or who, in the judgment of the Committee, is unable to
properly manage his financial affairs, may be paid to the legal representative of such person, or may be applied for the benefit of such person in any manner which the Committee may select, and the Partnership, Company and its Affiliates shall be
relieved of any further liability for payment of such amounts. 
 (l) Gender and Number. Words in the masculine gender shall include
the feminine gender, the plural shall include the singular and the singular shall include the plural. 
 (m) No Guarantee of Tax
Consequences. None of the Board, the Partnership, the Company, any Affiliate nor the Committee makes any commitment or guarantee that any federal, state or local tax treatment will apply or be available to any person participating or eligible to
participate hereunder. 
 9. Term of the Plan. 
 The Plan shall be effective on the date of its approval by the Board and shall continue until the date terminated by the Committee. However, unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award
granted prior to such termination, and the authority of the Committee to amend, alter, adjust, suspend, discontinue, or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date.

  

 -9-Contribution and Conveyance Agreement

 Exhibit 10.4 
  

 CONTRIBUTION AND CONVEYANCE AGREEMENT 
 BY AND AMONG 
 CHENIERE ENERGY PARTNERS, L.P. 
 CHENIERE LNG HOLDINGS, LLC 
 CHENIERE ENERGY PARTNERS GP, LLC 
 CHENIERE ENERGY INVESTMENTS, LLC 
 SABINE PASS LNG-GP, INC. 
 AND

 SABINE PASS LNG-LP, LLC 
 EFFECTIVE AS OF 
 March 26, 2007 
  

 CONTRIBUTION AND CONVEYANCE AGREEMENT 
 This CONTRIBUTION AND CONVEYANCE AGREEMENT, dated as of March 26, 2007, is entered into by and among CHENIERE ENERGY PARTNERS, L.P., a Delaware
limited partnership (“MLP”), CHENIERE LNG HOLDINGS, LLC, a Delaware limited liability company (“Cheniere Holdings”), CHENIERE ENERGY PARTNERS GP, LLC, a Delaware limited liability company (“MLP GP”), CHENIERE ENERGY
INVESTMENTS, LLC, a Delaware limited liability company (“Subsidiary LLC”), SABINE PASS LNG-GP, INC., a Delaware corporation (“LNG-GP”), and SABINE PASS LNG-LP, LLC, a Delaware limited liability company (“LNG-LP”). The
parties to this agreement are collectively referred to herein as the “Parties.” Capitalized terms used herein shall have the meanings assigned to such terms in Section 1.1. 
 RECITALS 
 WHEREAS, MLP GP and Cheniere Holdings have formed the MLP, pursuant
to the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP Act”), for the purpose of engaging in any business activity that is approved by MLP GP and that lawfully may be conducted by a limited partnership organized pursuant
to the Delaware LP Act. 
 WHEREAS, in order to accomplish the objectives and purposes in the preceding recital, the following actions have
been taken prior to the date hereof: 
 1. Cheniere Holdings formed MLP GP, to which Cheniere Holdings contributed $1,000 in exchange for all
of the member interests in MLP GP. 
 2. MLP GP and Cheniere Holdings formed the MLP; to which MLP GP contributed $20.00 in exchange for a 2%
general partner interest in the MLP and Cheniere Holdings contributed $980.00 in exchange for a 98% limited partner interest (the “Holdings Initial LP Interest”). 
 3. The MLP formed Subsidiary LLC, to which it contributed $1,000 in cash in exchange for 100% of the member interests in Subsidiary LLC. 
 WHEREAS, concurrently with the consummation of the transactions contemplated hereby (the “Closing”), each of the following matters shall occur:

 1. Cheniere Holdings will convey to Subsidiary LLC, as a capital contribution, 100% of the outstanding common stock of LNG-GP and 100% of
the member interests in LNG-LP (the “Contributed Equity”) in return for 10,000 units in Subsidiary LLC (the “Holdings Interests”). 
 2. Cheniere Holdings will contribute as a capital contribution to MLP GP a portion of the Holdings Interests having a value equal to 2% of the equity value of the MLP immediately after the Closing (the “GP
Interest”). 
 3. The MLP will enter into the Services Agreement with Cheniere Terminals. 

 4. O&M Services will assign the O&M Agreement to MLP GP, with the consent of Sabine Pass LNG,
pursuant to the Assignment and Assumption Agreement. 
 5. O&M Services and MLP GP will enter into the Services and Secondment Agreement.

 6. MLP GP will convey to the MLP, as a capital contribution, the GP Interest in exchange for (a) a continuation of its 2% general
partner interest in the MLP and (b) the issuance to MLP GP of the IDRs of the MLP. 
 7. Cheniere Holdings will convey, as a capital
contribution, the remainder of the Holdings Interests to the MLP in exchange for (a) 135,383,831 Subordinated Units in the MLP (representing an 82% interest), (b) 21,362,193 Common Units in the MLP (representing a 16% interest),
(c) the right to receive distributions, if any, from the Distribution Reserve Account as determined pursuant to Section 5.11 of the Partnership Agreement and (d) to the extent that the Net Funding Amount is not sufficient to purchase
Treasury Securities maturing as to principal and interest at such times and in such amounts as MLP GP has determined will be sufficient to pay the Initial Quarterly Distribution on the Initial Common Units and the General Partner Units, the
obligation to make an additional capital contribution to the MLP of cash in an amount needed to purchase the necessary Distribution Treasury Securities. 
 8. The public, through the Underwriters, will (i) contribute $106,137,444 in cash, less the Underwriters’ discount of $7,164,277 and the structuring fee of $530,687, in exchange for 5,054,164 Common Units in
the MLP and (ii) purchase 8,445,836 Common Units (plus an additional 2,025,000 Common Units if the Underwriters exercise in full their option to purchase additional Common Units from Cheniere Holdings) for $177,362,556, less the Underwriters
discount of $11,971,973 and the structuring fee of $886,812 ($42,525,000, $2,870,438 and $212,625, respectively, if the Underwriters exercise in full their option to purchase additional Common Units). 
 9. Cheniere Holdings will pay transaction expenses associated with the transactions contemplated by this Agreement in the amount of approximately
$3,800,000 (exclusive of the Underwriters’ discount and the structuring fee). 
 10. The MLP will deposit $98,442,481 (the “Net
Funding Amount”) in the Distribution Reserve Account. 
 11. The MLP will use the Net Funding Amount, plus any amounts contributed by
Cheniere Holdings, pursuant to Section 2.7, to purchase Treasury Securities. 
 12. The MLP will redeem from Cheniere Holdings and
retire the Holdings Initial LP Interest in exchange for a payment in cash to Cheniere Holdings of $980.00. 
 13. The Partnership Agreement
and the Amended and Restated Limited Liability Company Agreement of MLP GP, which as amended and restated reflect the applicable matters set forth above and as contained in this Agreement, will be executed. 
 NOW, THEREFORE, in consideration of their mutual undertakings and agreements hereunder, the Parties undertake and agree as follows: 
  

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 ARTICLE 1 
 DEFINITIONS 
 Section 1.1 The following capitalized terms shall have the meanings given below.

 (a) “Agreement” means this Contribution and Conveyance Agreement. 
 (b) “Assets” has the meaning assigned to such term in Section 3.1 of this Agreement. 
 (c) “Assignment and Assumption Agreement” means that certain Assignment and Assumption Agreement dated as of the Closing Date among O&M
Services, MLP GP and Sabine Pass LNG. 
 (d) “Cheniere Terminals” means Cheniere LNG Terminals, Inc., a Delaware corporation.

 (e) “Closing Date” means March 26, 2007. 
 (f) “Common Unit” has the meaning assigned to such term in the Partnership Agreement. 
 (g)
“Distribution Reserve Account” has the meaning assigned to such term in the Partnership Agreement. 
 (h) “Distribution Reserve
Amount” has the meaning assigned to such term in the Partnership Agreement. 
 (i) “Effective Date” shall mean the date on
which the Registration Statement is declared effective by the Securities and Exchange Commission. 
 (j) “Effective Time” shall mean
10:30 a.m. New York, New York time on the Closing Date. 
 (k) “General Partner Units” has the meaning assigned to such term in the
Partnership Agreement. 
 (l) “IDRs” means “Incentive Distribution Rights” as such term is defined in the Partnership
Agreement. 
 (m) “Initial Common Unit” has the meaning assigned to such term in the Partnership Agreement. 
 (n) “Initial Quarterly Distribution” has the meaning assigned to such term in the Partnership Agreement. 
 (o) “O&M Agreement” has the meaning assigned to such term in the Partnership Agreement. 
 (p) “O&M Services” has the meaning assigned to such term in the Partnership Agreement. 
  

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 (q) “Offering” means the initial public offering by the MLP and Cheniere Holdings of Common
Units. 
 (r) “Partnership Agreement” means that certain First Amended and Restated Agreement of Limited Partnership of Cheniere
Energy Partners, L.P. dated as of the Closing Date. 
 (s) “Partnership Group” means the MLP, MLP GP and Subsidiary LLC.

 (t) “Registration Statement” means the registration statements on Form S-1 (Registration Nos. 333-139572 and 333-141456) filed by
the MLP relating to the Offering. 
 (u) “Sabine Pass LNG” has the meaning assigned to such term in the Partnership Agreement.

 (v) “Services Agreement” means that certain Services Agreement dated as of the Closing Date between the MLP and Cheniere
Terminals. 
 (w) “Services and Secondment Agreement” means that certain Services and Secondment Agreement dated as of the Closing
Date between O&M Services and MLP GP. 
 (x) “Subordinated Unit” has the meaning assigned to such term in the Partnership
Agreement. 
 (y) “Underwriters” has the meaning assigned to such term in the Underwriting Agreement. 
 (z) “Underwriting Agreement” has the meaning assigned to such term in the Partnership Agreement. 
 ARTICLE 2 
 CONTRIBUTIONS,
ACKNOWLEDGMENTS AND DISTRIBUTIONS 
 Section 2.1 Contribution by Cheniere Holdings to Subsidiary LLC. Cheniere Holdings hereby
grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to Subsidiary LLC, its successors and assigns, for its and their own use forever, all right, title and interest in and to the Contributed Equity, as a capital
contribution, in exchange for (a) 10,000 units in Subsidiary LLC and (b) other good and valuable consideration, the sufficiency of which is hereby acknowledged, and Subsidiary LLC hereby accepts the Contributed Equity as a contribution to
the capital of Subsidiary LLC and agrees as the sole member of LNG-LP to be bound by the terms of the Limited Liability Company Agreement of LNG-LP. 
 Section 2.2 Contribution by Cheniere Holdings of the GP Interest to MLP GP. Cheniere Holdings hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to MLP GP, its successors
and assigns, for its and their own use forever, all right, title and interest in and to the GP Interest, as a capital contribution, for good and valuable consideration, the sufficiency of which is hereby acknowledged, and MLP GP hereby accepts the
GP Interest as a contribution to the capital of MLP GP. 
  

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 Section 2.3 Contribution by MLP GP of the GP Interest to the MLP. MLP GP hereby grants,
contributes, bargains, conveys, assigns, transfers, sets over and delivers to the MLP, its successors and assigns, for its and their own use forever, all right, title and interest in and to the GP Interest, as a capital contribution, in exchange for
(a) a continuation of its 2% general partner interest in the MLP, (b) the issuance by the MLP to MLP GP of the IDRs, and (c) other good and valuable consideration, the sufficiency of which is hereby acknowledged, and the MLP hereby
accepts the GP Interest as a contribution to the capital of the MLP. 
 Section 2.4 Contribution by Cheniere Holdings of Holding Interests
to the MLP. Cheniere Holdings hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the MLP, its successors and assigns, for its and their own use forever, all right, title and interest in and to the
remainder of the Holdings Interests in exchange for (a) the issuance by the MLP to Cheniere Holdings of 135,383,831 Subordinated Units in the MLP, representing an 82% interest in the MLP, (b) the issuance by the MLP to Cheniere Holdings of
21,362,193 Common Units in the MLP, representing a 16% interest in the MLP, (c) the right to receive distributions, in certain circumstances, from the Distribution Reserve Account as determined pursuant to Section 5.11 of the Partnership
Agreement, (d) the obligation to make contributions to the Distribution Reserve Account, pursuant to the terms of Section 2.7, and (e) other good and valuable consideration, the sufficiency of which is hereby acknowledged, and the MLP
hereby accepts such Holdings Interests as a contribution to the capital of the MLP and agrees to be bound by the terms of the Limited Liability Company Agreement of Subsidiary LLC as its sole member. 
 Section 2.5 Cash Contribution by the Public. The Parties acknowledge that the public has made a capital contribution through the underwriters to
the MLP of approximately $106,137,444 in cash ($98,442,481 net to the MLP after the underwriting discount of $7,164,277 and the structuring fee of $530,687) in exchange for the issuance by the MLP to the public of 5,054,164 Common Units,
representing an 8.2% interest in the MLP. 
 Section 2.6 Transaction Costs and Distribution Reserve Account. The Parties acknowledge
(a) the payment by Cheniere Holdings, in connection with the Closing, of transaction expenses in the amount of approximately $3,800,000 (exclusive of the Underwriters’ discount and the structuring fee) and (b) the deposit of the Net
Funding Amount into the Distribution Reserve Account. 
 Section 2.7 Purchase of Treasury Securities. The MLP shall use the Net
Funding Amount to purchase the Treasury Securities on the Closing Date maturing as to principal and interest at such times and in such amounts as MLP GP determines will be sufficient to pay the Initial Quarterly Distribution on the Initial Common
Units and General Partner Units. In the event the Net Funding Amount is not sufficient to purchase the necessary Treasury Securities, on the Closing Date, Cheniere Holdings shall contribute the difference to the MLP as an additional Capital
Contribution. 
 Section 2.8 Redemption of Cheniere Holdings Initial MLP Interest. The MLP hereby agrees to redeem from Cheniere
Holdings and agrees to retire the Cheniere Holdings Initial MLP Interest in exchange for a payment in cash to Cheniere Holdings of $980.00. 
  

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 ARTICLE 3 
 TITLE MATTERS 
 Section 3.1 Encumbrances 
 (a) Except to the extent provided in any other document executed in connection with this Agreement or the Offering, the contribution and conveyance (by
operation of law or otherwise) of the various physical assets owned as reflected in this Agreement (collectively, the “Assets”) are made expressly subject to all recorded and unrecorded liens (other than consensual liens), encumbrances,
agreements, defects, restrictions, adverse claims and all laws, rules, regulations, ordinances, judgments and orders of governmental authorities or tribunals having or asserting jurisdictions over the Assets and operations conducted thereon or in
connection therewith, in each case to the extent the same are valid and enforceable and affect the Assets, including all matters that a current survey or visual inspection of the Assets would reflect. 
 (b) To the extent that certain jurisdictions in which the Assets are located may require that documents be recorded in order to evidence the transfers of
title reflected in this Agreement, then the provisions set forth in Section 3.1(a) immediately above shall also be applicable to the conveyances under such documents. 
 Section 3.2 Disclaimer of Warranties; Subrogation; Waiver of Bulk Sales Laws 
 (a) EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT OR THE OFFERING, 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, INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL, GEOLOGY OR ENVIRONMENTAL CONDITION OF THE ASSETS GENERALLY, INCLUDING
THE PRESENCE OR LACK OF HAZARDOUS SUBSTANCES OR OTHER MATTERS ON THE ASSETS, (B) THE INCOME TO BE DERIVED FROM THE ASSETS, (C) THE SUITABILITY OF THE ASSETS FOR ANY AND ALL ACTIVITIES AND USES THAT MAY BE CONDUCTED THEREON, (D) THE
COMPLIANCE OF OR BY THE 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 THE ASSETS. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT OR THE OFFERING, THE PARTIES ACKNOWLEDGE AND
AGREE THAT EACH HAS HAD THE OPPORTUNITY TO INSPECT THE RESPECTIVE ASSETS, AND EACH IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE RESPECTIVE ASSETS AND NOT ON ANY INFORMATION PROVIDED OR TO BE PROVIDED BY ANY OF THE PARTIES. EXCEPT TO THE EXTENT
PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN 

  

 6 

 
CONNECTION WITH THIS AGREEMENT OR THE OFFERING, NONE OF THE PARTIES IS LIABLE OR BOUND IN ANY MANNER BY ANY VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR
INFORMATION PERTAINING TO THE ASSETS FURNISHED BY ANY AGENT, EMPLOYEE, SERVANT OR THIRD PARTY. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT OR THE OFFERING, EACH OF THE PARTIES
ACKNOWLEDGES THAT, TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE CONTRIBUTION OF THE ASSETS AS PROVIDED FOR HEREIN IS MADE IN AN “AS IS”, “WHERE IS” CONDITION WITH ALL FAULTS, AND THE ASSETS ARE CONTRIBUTED AND CONVEYED SUBJECT TO
ALL OF THE MATTERS CONTAINED IN THIS SECTION. THIS SECTION SHALL SURVIVE SUCH CONTRIBUTION AND CONVEYANCE 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 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 OR THE OFFERING. 
 (b) The contributions of
the Assets made under this Agreement are made with full rights of substitution and subrogation of the respective Parties receiving such contributions, and all persons claiming by, through and under such parties, to the extent assignable, in and to
all covenants and warranties by the predecessors-in-title of the Parties contributing the Assets, and with full subrogation of all rights accruing under applicable statutes of limitation and all rights of action of warranty against all former owners
of the Assets. 
 (c) Each of the Parties agrees that the disclaimers contained in this Section 3.2 are “conspicuous”
disclaimers. Any covenants implied by statute or law by the use of the words “grant,” “convey,” “bargain,” “sell,” “assign,” “transfer,” “deliver” or “set over” or any
of them or any other words used in this Agreement or any exhibits hereto are hereby expressly disclaimed, waived or negated. 
 (d) Each of
the Parties hereby waives compliance with any applicable bulk sales law or any similar law in any applicable jurisdiction in respect of the transactions contemplated by this Agreement. 
 ARTICLE 4 
 FURTHER ASSURANCES 
 Section 4.1 Further Assurances. From time to time after the Effective Time, 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,
or (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 to more fully and
effectively carry out the purposes and intent of this Agreement. 
  

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 Section 4.2 Other Assurances. From time to time after the Effective Time, and without any further
consideration, each of the Parties shall execute, acknowledge and deliver all such additional instruments, notices and other documents, and will do all such other acts and things, all in accordance with applicable law, as may be necessary or
appropriate to more fully and effectively carry out the purposes and intent of this Agreement. Without limiting the generality of the foregoing, the Parties acknowledge that the parties have used their good faith efforts to attempt to identify all
of the assets being contributed to the MLP or its subsidiaries as required in connection with the Offering. However, due to the age of some of those assets and the difficulties in locating appropriate data with respect to some of the assets it is
possible that assets intended to be contributed to the MLP or its subsidiaries were not identified and therefore are not included in the assets contributed to the MLP or its subsidiaries. It is the express intent of the Parties that the MLP or its
subsidiaries own all assets necessary to operate the assets that are identified in this Agreement and in the Registration Statement. To the extent that any assets were not identified but are necessary to the operation of assets that were identified,
then the intent of the Parties is that all such unidentified assets are intended to be conveyed to the appropriate member(s) of the Partnership Group. To the extent such assets are identified at a later date, the Parties shall take the appropriate
actions required in order to convey all such assets to the appropriate member(s) of the Partnership Group. Likewise, to the extent that assets are identified at a later date that were not intended by the Parties to be conveyed as reflected in the
Registration Statement, the Parties shall take the appropriate actions required in order to convey all such assets to the appropriate Party. 
 ARTICLE 5 
 EFFECTIVE TIME 
 Notwithstanding anything contained in this Agreement to the contrary, none of the provisions of Article 2 of this Agreement shall be operative or have any effect until the Effective Time, at which time all the
provisions of Article 2 of this Agreement shall be effective and operative in accordance with Article 6, without further action by any party hereto. 
 ARTICLE 6 
 MISCELLANEOUS 
 Section 6.1 Order of Completion of Transactions. The transactions provided for in Article 2 of this Agreement shall be completed immediately following the Effective Time in the order set forth therein.

 Section 6.2 Costs. Except for the transaction costs set forth in Section 2.6, Subsidiary LLC shall pay all expenses, fees and
costs, including, but not limited to, 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. In addition, Subsidiary LLC shall be responsible for all costs, liabilities and expenses (including court costs and reasonable attorneys’ fees) incurred in connection with the implementation of any conveyance
or delivery pursuant to Section 4.1 or Section 4.2. 
  

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 Section 6.3 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. 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. 
 Section 6.4
Successors and Assigns. The Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns. 
 Section 6.5 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. 
 Section 6.6 Counterparts. This Agreement may be executed in any number of counterparts, all of which together shall constitute one agreement binding on the parties hereto. 
 Section 6.7 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Texas applicable to
contracts made and to be performed wholly within such state. 
 Section 6.8 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 political 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 to the intention of the
Parties as expressed in this Agreement at the time of execution of this Agreement. 
 Section 6.9 Amendment or Modification. This
Agreement may be amended or modified from time to time only by the written agreement of all of the Parties. Each such instrument shall be reduced to writing and shall be designated on its face as an Amendment to this Agreement. 
  

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 Section 6.10 Integration. This Agreement and the instruments referenced herein supersede all
previous understandings or agreements among the Parties, whether oral or written, with respect to their subject matter. This document 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. 
 Section 6.11 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 assets and interests referenced herein. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 
  

 10 

 IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the date first
above written. 
 CHENIERE ENERGY PARTNERS, L.P. 
 By:  Cheniere Energy Partners GP, LLC, its general partner 
 By:  /s/    Stanley C.
Horton                                       
  
         Name:  Stanley C. Horton 
         Title:  President and Chief Operating Officer 
 CHENIERE LNG HOLDINGS, LLC 
 By:  /s/    Stanley C.
Horton                                       
  
         Name:  Stanley C. Horton 
         Title:  Chief Executive Officer 
 CHENIERE ENERGY PARTNERS GP, LLC 
 By:  /s/    Stanley C.
Horton                                       
  
         Name:  Stanley C. Horton 
         Title:  President and Chief Operating Officer 
 CHENIERE ENERGY INVESTMENTS, LLC 
 By:  /s/    Stanley C.
Horton                                       
  
         Name:  Stanley C. Horton 
         Title:  Chief Executive Officer 
 SABINE PASS LNG-GP, INC. 
 By:  /s/    Stanley C.
Horton                                       
  
         Name:  Stanley C. Horton 
         Title:  Chief Executive Officer 
 SABINE PASS LNG-LP, LLC 
 By:  /s/    Stanley C.
Horton                                       
  
         Name:  Stanley C. Horton 
         Title:  Chief Executive Officer 
  

 11

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