Document:

SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF GBGH, LLC

 EXHIBIT 10.5 
 SECOND AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY AGREEMENT 
 OF 
 GBGH, LLC 
 a Delaware Limited Liability Company 
 Dated as of August 3, 2006 
  

 TABLE OF CONTENTS 
  

					
	 ARTICLE I
	  	DEFINITIONS	  	1
			
	 SECTION 1.1
	  	DEFINITIONS.	  	1
	 SECTION 1.2
	  	INTERPRETATION.	  	6
			
	 ARTICLE II
	  	GENERAL PROVISIONS	  	6
			
	 SECTION 2.1
	  	FORMATION.	  	6
	 SECTION 2.2
	  	COMPANY NAME.	  	7
	 SECTION 2.3
	  	REGISTERED OFFICE; REGISTERED AGENT.	  	7
	 SECTION 2.4
	  	PLACE OF BUSINESS.	  	7
	 SECTION 2.5
	  	PURPOSE; NATURE OF BUSINESS PERMITTED; POWERS.	  	7
	 SECTION 2.6
	  	BUSINESS TRANSACTIONS OF A MEMBER WITH THE COMPANY;
DUTIES.	  	7
	 SECTION 2.7
	  	COMPANY PROPERTY.	  	8
	 SECTION 2.8
	  	TERM.	  	8
	 SECTION 2.9
	  	NO STATE LAW PARTNERSHIP.	  	8
	 SECTION 2.10
	  	FISCAL YEAR.	  	8
	 SECTION 2.11
	  	TAX TREATMENT.	  	8
			
	 ARTICLE III
	  	MEMBERS	  	9
			
	 SECTION 3.1
	  	MEMBERS.	  	9
	 SECTION 3.2
	  	ADDITIONAL EQUITY AND MEMBERS.	  	9
	 SECTION 3.3
	  	CLASSES OF MEMBERS.	  	9
	 SECTION 3.4
	  	NO LIABILITY OF MEMBERS.	  	9
	 SECTION 3.5
	  	ACTIONS BY THE MEMBERS.	  	9
	 SECTION 3.6
	  	POWER TO BIND THE COMPANY.	  	10
	 SECTION 3.7
	  	ACCESS.	  	10
	 SECTION 3.8
	  	REPRESENTATIONS AND WARRANTIES.	  	11
	 SECTION 3.9
	  	CERTIFICATES.	  	12
			
	 ARTICLE IV
	  	MANAGEMENT	  	13
			
	 SECTION 4.1
	  	BOARD OF DIRECTORS.	  	13
	 SECTION 4.2
	  	NUMBER OF DIRECTORS.	  	14
	 SECTION 4.3
	  	ELECTION OF DIRECTORS.	  	14
	 SECTION 4.4
	  	REMOVAL OR RESIGNATION OF DIRECTORS.	  	14
	 SECTION 4.5
	  	MEETINGS.	  	14
	 SECTION 4.6
	  	ACTION WITHOUT A MEETING.	  	15
	 SECTION 4.7
	  	NOTICE OF MEETINGS.	  	15
	 SECTION 4.8
	  	QUORUM.	  	15
	 SECTION 4.9
	  	VOTING.	  	15
	 SECTION 4.10
	  	EXPENSES.	  	15
	 SECTION 4.11
	  	THIRD PARTY RELIANCE.	  	15
	 SECTION 4.12
	  	DUTIES OF DIRECTORS.	  	16
	 SECTION 4.13
	  	TRANSACTIONS WITH DIRECTORS AND AFFILIATES.	  	16
	 SECTION 4.14
	  	CERTAIN TRANSACTIONS.	  	16
	 SECTION 4.15
	  	OFFICERS.	  	16
	 SECTION 4.16
	  	INDEMNIFICATION AND INSURANCE.	  	17

  

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	 ARTICLE V
	  	CAPITAL STRUCTURE AND CONTRIBUTIONS	  	18
			
	 SECTION 5.1
	  	CAPITAL CONTRIBUTIONS.	  	18
	 SECTION 5.2
	  	ADDITIONAL CONTRIBUTIONS.	  	18
	 SECTION 5.3
	  	NO WITHDRAWAL OF CAPITAL CONTRIBUTIONS.	  	19
	 SECTION 5.4
	  	MAINTENANCE OF CAPITAL ACCOUNTS.	  	20
	 SECTION 5.5
	  	CREDIT SUPPORT.	  	20
			
	 ARTICLE VI
	  	ALLOCATIONS AND DISTRIBUTIONS	  	22
			
	 SECTION 6.1
	  	ALLOCATIONS OF NET PROFITS AND NET LOSSES FROM
OPERATIONS.	  	22
	 SECTION 6.2
	  	SPECIAL ALLOCATIONS.	  	22
	 SECTION 6.3
	  	NO RIGHT TO DISTRIBUTIONS.	  	25
	 SECTION 6.4
	  	DISTRIBUTIONS.	  	25
	 SECTION 6.5
	  	PROPERTY REVALUATION.	  	26
	 SECTION 6.6
	  	TAX ALLOCATIONS.	  	26
	 SECTION 6.7
	  	PUBLIC OFFERINGS.	  	26
			
	 ARTICLE VII
	  	BOOKS AND REPORTS	  	27
			
	 SECTION 7.1
	  	BOOKS AND RECORDS; ACCOUNTING.	  	27
	 SECTION 7.2
	  	FORM K-1.	  	27
	 SECTION 7.3
	  	TAX MATTERS PARTNER.	  	27
			
	 ARTICLE VIII
	  	WITHDRAWAL; TRANSFERS OF MEMBERSHIP INTERESTS	  	27
			
	 SECTION 8.1
	  	NO RIGHT TO WITHDRAW.	  	27
	 SECTION 8.2
	  	GENERAL RESTRICTION ON TRANSFERS.	  	28
	 SECTION 8.3
	  	INTENTIONALLY OMITTED.	  	29
	 SECTION 8.4
	  	DRAG-ALONG RIGHTS.	  	29
	 SECTION 8.5
	  	TAG-ALONG RIGHTS.	  	30
			
	 ARTICLE IX
	  	DISSOLUTION OF THE COMPANY	  	30
			
	 SECTION 9.1
	  	DISSOLUTION.	  	30
	 SECTION 9.2
	  	LIQUIDATION.	  	31
			
	 ARTICLE X
	  	MISCELLANEOUS	  	31
			
	 SECTION 10.1
	  	AMENDMENT TO THIS AGREEMENT.	  	31
	 SECTION 10.2
	  	SUCCESSORS; COUNTERPARTS.	  	31
	 SECTION 10.3
	  	GOVERNING LAW; VENUE.	  	31
	 SECTION 10.4
	  	SEVERABILITY.	  	32
	 SECTION 10.5
	  	NO THIRD PARTY BENEFICIARIES.	  	32
	 SECTION 10.6
	  	ADDITIONAL DOCUMENTS.	  	32
	 SECTION 10.7
	  	NOTICES.	  	32
	 SECTION 10.8
	  	WAIVER OF PARTITION.	  	33
	 SECTION 10.9
	  	CONFIDENTIALITY; ANNOUNCEMENTS.	  	33

 EXHIBITS 
  

			
	Exhibit A	  	Members
	Exhibit B	  	Form of Certificate

  

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 This SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT dated as of August 3, 2006,
(this “Agreement,” as it may be amended from time to time as provided below), of GBGH, LLC, a Delaware limited liability company (the “Company”), is by and among the Persons executing this Agreement as of the date
of this Agreement. Capitalized terms used in this Agreement have the meanings given to them in Section 1.1 below. 
 RECITAL 

WHEREAS, USEY Overseas formed the Company as a limited liability company under the Act pursuant to a Certificate of Formation filed with the Delaware
Secretary of State on February 27, 2006 and entered into a Limited Liability Company Agreement dated as of February 27, 2006, as amended and restated pursuant to the Amended and Restated Limited Liability Company Agreement (the “First
Amended and Restated Agreement”), dated as of May 22, 2006; 
 WHEREAS, USEY Overseas and Marathon desire to amend and restate the
First Amended and Restated Agreement in its entirety, on the terms and conditions hereinafter set forth herein; 
 WHEREAS, USEY Overseas and
Marathon, contemporaneously with the execution of this Agreement, will be issued all of the outstanding Membership Interests; and 
 WHEREAS,
the Members desire to adopt this Agreement to govern the affairs of the Company and the conduct of its business. 
 NOW, THEREFORE, in
consideration of the mutual representations, warranties, covenants, and agreements contained herein, the Members agree as follows: 
 ARTICLE
I 
 DEFINITIONS 
 Section 1.1 Definitions. 
 Terms defined in the Act but not otherwise defined in this Agreement have the meanings
assigned to them in the Act. In addition, as used in this Agreement the following terms have the following meanings: 
 “Act” means the Delaware Limited Liability Company Act. 
 “Adjusted Capital Account
Deficit” means, with respect to any Member, the deficit balance, if any, in that Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments: (a) credits to such Capital
Account of any amounts that that Member is deemed to be obligated to restore pursuant to the penultimate sentences of sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations; and (b) debits to such Capital Account of such Member’s
share of 

 the items described in sections 1.704-1(b)(2)(ii)(d)(4), (5), and (6) of the Regulations. The
foregoing definition of Adjusted Capital Account Deficit is intended to comply with the provisions of section 1.704-1(b)(2)(ii)(d) of the Regulations and shall be interpreted consistently with those Regulations. 
 “Affiliate” of any Person means any other Person, including any officer, director, employee or shareholder, controlling,
controlled by, or under common control with the first Person, where “control” means the power (whether through the ownership of interests, by contract or otherwise) to direct the vote of a majority of the shares or other securities
entitled to vote on ordinary matters of, or to direct or cause the direction of the management and policies of, a Person or (where applicable) that Person’s general partner; provided, however, that the Company and any Person controlled
by the Company shall not be deemed to be Affiliates of any Member or any of its Affiliates. 
 “Agreement”
has the meaning assigned to that term in the introduction to this Agreement. 
 “Board” shall mean the Board
of Directors of the Company, as further described in Section 4.1. 
 “Business Day” means any day other
than a Saturday, a Sunday, or another day on which banks in New York, New York generally are closed. 
 “Capital
Account” has the meaning assigned to that term in Section 5.4. 
 “Capital Contributions” means
any money and other property (or if the context requires, the total amount of money and the fair market value of property) actually contributed, or deemed (for United States federal tax purposes) to have been contributed, to the capital of the
Company by any Member, whether as an Initial Capital Contribution or as an additional Capital Contribution. 
 “Certificate” has the meaning assigned to that term in Section 3.9(b). 
 “Certificate
of Formation” means the certificate of formation of the Company required under the Act, as amended from time to time in accordance with this Agreement. 
 “Code” means the Internal Revenue Code of 1986, as amended. 
 “Company” has the meaning assigned to that term in the introduction to this Agreement. 
 “Company Property” means all direct and indirect interests in real and personal property owned by the Company from time
to time and shall include both tangible and intangible property (including cash). 
 “Contingent Equity
Amount” has the meaning assigned to that term in Section 5.5.(c). 
  

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 “Contributing Member” has the meaning assigned to that term in
Section 5.2(b). 
 “Co-Selling Member” has the meaning assigned to that term in Section 8.5.

 “Credit Support” has the meaning assigned to that term in Section 5.5(a). 
 “Credit Support Provider” has the meaning assigned to that term in Section 5.5(a). 
 “Director” shall mean a member of the Board, who shall be deemed to be a “manager” for purposes of the Act.

 “Disputing Member” has the meaning assigned to that term in Section 5.2(b). 
 “Drag-Along Interest” has the meaning assigned to that term in Section 8.4. 
 “Drag-Along Notice” has the meaning assigned to that term in Section 8.4. 
 “Drag-Along Purchasers” has the meaning assigned to that term in Section 8.4. 
 “Fiscal Year” has the meaning assigned to that term in Section 2.10. 
 “Initial Capital Contributions” has the meaning assigned to such term in Section 5.1. 
 “Marathon” means Marathon Capital Holdings (UK), LLC, a Delaware limited liability company, and any other Member that has
succeeded to all or any part of the Membership Interest of Marathon Capital Holdings (UK), LLC. 
 “Marathon
Director” has the meaning assigned to that term in Section 4.2. 
 “Member” means any of the
Persons executing this Agreement as of the date of this Agreement or any other Person admitted to the Company as a member as provided in Section 3.2 and Article VIII, but as of any time, excludes any Person that has ceased to be a Member.

 “Membership Interest” means the interest of any Member as a member of the Company, including that
Member’s rights to receive allocations and distributions, and to vote on matters as provided in this Agreement and its obligations under this Agreement. 
 “Necessary Contribution” has the meaning assigned to that term in Section 5.2(b). 
 “Net Profits” or “Net Losses” means, with respect to any period, the taxable income or loss,
respectively, of the Company for such period, determined in accordance with section 703(a) of the Code (for this purpose, all items of income, gain, loss, deduction, or credit required to be separately stated pursuant to section 703(a)(1) of the
Code shall be included in taxable income or loss); provided, however, that: (i) any income of the Company that is exempt from federal income tax, and any distributions to 
  

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 the Company that are treated under section 301(c)(2) of the Code as a return of capital, and not
otherwise taken into account in computing Net Profits or Net Losses under this definition shall be added to such income or loss; and (ii) any expenditures of the Company during such period which are described, or treated under Regulation
section 1.704-1(b)(2)(iv)(i) as described, in section 705(a)(2)(B) of the Code and not otherwise taken into account in computing Net Profits or Net Losses shall be subtracted from such taxable income or loss. Notwithstanding anything to the contrary
contained in this definition, income, gain, or loss resulting from the disposition of, distribution to a Member of, or depreciation, amortization, or other cost recovery deductions with respect to, any asset of the Company shall be computed by
reference to the book value of the asset disposed of, distributed or depreciated, amortized, or otherwise recovered, notwithstanding that the adjusted tax basis of that asset differs from its book value. 
 “Non-Contributing Member” has the meaning assigned to that term in Section 5.2(b). 
 “Non-Participating Member” has the meaning assigned to that term in Section 5.5(b). 
 “Nonrecourse Deductions” has the meaning set forth in sections 1.704-2(b)(1) and 1.704-2(c) of the Regulations.

 “Nonrecourse Liability” has the meaning set forth in section 1.704-2(b)(3) of the Regulations. 

“Partner Nonrecourse Debt” has the meaning set forth in section 1.704-2(b)(4) of the Regulations. 
 “Partner Nonrecourse Debt Minimum Gain” means an amount, with respect to each Partner Nonrecourse Debt, equal to the
Partnership Minimum Gain that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with section 1.704-2(i)(3) of the Regulations. 
 “Partner Nonrecourse Deductions” has the same meaning set forth in sections 1.704-2(i)(1) and 1.704-2(i)(2) of the
Regulations. 
 “Partnership Minimum Gain” has the meaning set forth in Regulations sections 1.704-2(b)(2)
and 1.704-2(d)(1). 
 “Percentage” of any Member means, in each case subject to adjustments, including on
account of Transfers, admissions of new Members and dilution, as provided in this Agreement, (a) in the case of a Member executing this Agreement as of the date of this Agreement, the percentage set forth for that Member on Exhibit A, or
(b) in the case of a Person subsequently admitted as a Member, the percentage established on that Person’s admission as provided in this Agreement. 
 “Permitted Transferee” means (a) with respect to USEY Overseas, any Person and (b) with respect to Marathon or
any other Member, any Affiliate and any Person that is an institutional investor with experience investing in energy assets, that is 
  

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 reasonably acceptable to the lenders under the Senior Debt Documents (so long as they are in effect) and
that is reasonably acceptable to USEY Overseas, whose consent shall not be unreasonably withheld or delayed. 
 “Person” means any individual, corporation, association, partnership (general or limited), joint venture, trust, joint-stock company, estate, limited liability company, unincorporated organization or other legal entity or
organization, or governmental authority. 
 “Pledge” means pledge, grant a security interest in, create a
lien on, assign the right to receive distributions or proceeds from, or otherwise encumber, directly or indirectly, or any act of the foregoing. 
 “Preferred Return” means, with respect to any Member, as of any date, an amount equal to a cumulative 12% per annum return, compounded annually, on the Unrecovered Capital Contributions of such
Member. 
 “Project” means 100% of the equity interest in UK Energy Systems Limited, which in turn owns 100%
of RGS Energy Limited, Viking Petroleum UK Limited and Madison Management Ltd. 
 “Purchaser” has the meaning
assigned to that term in Section 8.5. 
 “Regulations” means temporary and final Treasury Regulations
promulgated under the Code. 
 “SB Letter of Credit” means a stand-by letter of credit meeting the
requirements under the Senior Debt Documents with an available amount of $21,000,000 for the benefit of the collateral agents under the Senior Debt Documents. 
 “Senior Debt Documents” means (i) that certain First Lien Credit Agreement to be entered into by and among the
Company, as borrower, the initial lenders named therein, Credit Suisse or an affiliate thereof, as first lien administrative agent and as first lien collateral agent and Credit Suisse Securities (USA) LLC, as sole lead arranger and sole bookrunner
and the Loan Documents as defined therein and (ii) that certain Second Lien Credit Agreement to be entered into by and among the Company, as borrower, Credit Suisse or an affiliate thereof, as second lien administrative agent and as second lien
collateral agent, Credit Suisse Securities (USA) LLC, as sole lead arranger and sole bookrunner and the other parties thereto and the Loan Documents as defined therein. 
 “Third Lien Pledge Agreement” means the Pledge Agreement to be entered into by USE Overseas in favor of Silver Point
Finance, LLC with respect to USE Overseas’ Membership Interest. 
 “Transfer” means sell, assign,
convey, contribute, give, or otherwise transfer, whether directly or indirectly, or any act of the foregoing, but excludes Pledge or any act of Pledging. 
  

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 “Unrecovered Capital Contributions” means the amount at any time equal
to the excess of (i) the USEY Overseas’ Initial Capital Contribution, over (ii) the distributions to USEY Overseas pursuant to Section 6.4(b)(iii). 
 “USEY Director” has the meaning assigned to that term in Section 4.2. 
 “USEY Overseas” means US Energy Overseas Investments, LLC, a Delaware limited liability company, and any other Member
that has succeeded to all or any part of the Membership Interest of US Energy Overseas Investments LLC. 
 Section 1.2
Interpretation. 
 In construing this Agreement, unless otherwise specifically provided: 
 (a) Words defined in the singular have the corresponding meaning in the plural, and words defined in the plural have the corresponding
meaning in the singular. 
 (b) References to any gender include references to the other genders. 
 (c) The words “include” and “including” and their derivations mean without limitation. 
 (d) References to a statute, rule, regulation, or agreement include all amendments, modifications, and replacements or successor statutes,
rules, regulations, and agreements. 
 (e) References to “dollars” or “$” are to dollars in currency of
the United States of America. 
 (f) References to Articles, Sections, and Schedules are to those provisions of this
Agreement, and each Schedule is incorporated into this Agreement as a part of this Agreement. 
 ARTICLE II 
 GENERAL PROVISIONS 
 Section 2.1
Formation. 
 The Company was formed as a limited liability company under the Act on the filing of the Certificate of Formation with
the Secretary of State of the State of Delaware in conformity with the Act on February 27, 2006. The Company and, if required, each of the Members shall execute or cause to be executed from time to time all other instruments, certificates,
notices, and documents and shall do, or cause to be done, all such acts and things (including keeping books and records and making publications or periodic filings) as may now or hereafter be required for the formation, valid existence, and, when
appropriate, termination of the Company as a limited liability company under the laws of the State of Delaware, including any amendments required under the Act to reflect the provisions of this Agreement. 
  

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 Section 2.2 Company Name. 
 The name of the Company shall be “GBGH, LLC” or such other name or names as the Board may determine from time to time, and its business
shall be carried on in such name with such variations and changes as the Board deems necessary to comply with requirements of the jurisdictions in which the Company’s operations are conducted. The Board shall cause the Company’s
Certificate of Formation to be amended to reflect the change in the Company’s name to the name just provided. 
 Section 2.3
Registered Office; Registered Agent. 
 The Company shall maintain a registered office in the State of Delaware at, and the name and
address of the Company’s registered agent in the State of Delaware is The Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware 19801. The Board from time to time may change the Company’s registered office and/or registered
agent and shall forthwith amend the Certificate of Formation to reflect such change(s). 
 Section 2.4 Place of Business.

 The Board shall determine the business address of the Company. The Company from time to time may have such other place or places of
business within or without the State of Delaware as the Board may determine appropriate. 
 Section 2.5 Purpose; Nature of Business
Permitted; Powers. 
 The Company’s purpose is to own and operate the Project. The Company shall possess and may exercise all the
powers and privileges granted by the Act, any other law, or this Agreement, together with any powers incidental to those powers and privileges, insofar as those powers and privileges are necessary or convenient to the conduct, promotion, financing
or attainment of the business purposes or activities of the Company, including the power to enter into and to perform its obligations under the Senior Debt Documents. 
 Section 2.6 Business Transactions of a Member with the Company; Duties. 
 (a)
Without limiting section 18-107 of the Act, and subject to Section 4.13, a Member or its Affiliates may lend money to, act as surety, guarantor, or endorser for, guarantee or assume one or more obligations of, provide collateral for, and
transact other business with, the Company and any Person in which the Company owns an interest and, subject to applicable law, shall have the same rights and obligations with respect to any such matter as a Person that is not a Member. 

(b) Subject to Section 4.13, each of the Members and their respective Affiliates may engage, directly or indirectly, in other
business ventures and activities of every nature and description, regardless of whether in competition with the Company, the Project or any Person in which the Company owns an interest, independently or with others, and neither the Company nor the

  

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 other Members shall have any rights in and to any such independent venture or activity or the income or
profits derived from them. Each Member consents to all such ventures and activities, which shall not be deemed to be wrongful or improper, and none of the Members and their respective Affiliates is under any obligation to disclose or to offer the
Company, any Person in which the Company owns an interest or the other Members any such venture or activity or any opportunity to participate in them. 
 (c) Except as this Agreement explicitly may provide otherwise, each Member, to the extent entitled to act or vote on, or to approve or disapprove, matters relating to the Company, may do so in its sole discretion and,
in exercising that discretion, may take into account that Member’s and its Affiliates’ own interests. 
 Section 2.7
Company Property. 
 No real or other property of the Company or any Person in which the Company owns an interest shall be deemed to be
owned by any Member individually, but shall be owned by and title shall be vested solely in the Company. The Membership Interests constitute personal property. 
 Section 2.8 Term. 
 The existence of the Company commenced on the date of the filing of the
Certificate of Formation in the office of the Secretary of State of the State of Delaware in accordance with the Act. Subject to the provisions of Article IX, the Company shall have a perpetual life. 
 Section 2.9 No State Law Partnership. 
 The Members intend that the Company not be a partnership (including a limited partnership) or joint venture and that no Member be a partner or joint venturer of any other Member for any purposes other than applicable tax laws. This
Agreement may not be construed to suggest otherwise. 
 Section 2.10 Fiscal Year. 
 Subject to section 448 of the Code, the Board shall determine the fiscal year of the Company for financial statement and federal income tax purposes (the
“Fiscal Year”). 
 Section 2.11 Tax Treatment. 
 The Members and the Company shall timely make any and all necessary elections and filings for the Company to be treated as a partnership for U.S. federal
income tax purposes and for any analogous state or local tax purposes. 
  

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 ARTICLE III 
 MEMBERS 
 Section 3.1 Members. 
 USEY Overseas and Marathon are, as of the date of this Agreement, Members of the Company. The Members as of the date of this Agreement and their names,
addresses for notices under Section 10.7 and Percentages are set forth on Exhibit A. 
 Section 3.2 Additional Equity and
Members. 
 (a) Additional Equity. Subject to Section 5.2(b), the Company may issue additional equity only if
each existing Member consents to the issuance in its sole discretion. 
 (b) Admission as Member. A Person that
acquires Membership Interests as provided in Section 3.2(a) but that is not already a Member shall be admitted as a member of the Company effective with that acquisition. A Person to which a Membership Interest is Transferred in accordance with
Section 8.2 shall be admitted as a member of the Company with the Percentage attributable to the Membership Interest so Transferred. 
 Section 3.3 Classes of Members. 
 All Members and Membership Interests are of the same class, but Members may have
different Percentages. 
 Section 3.4 No Liability of Members. 
 All debts, obligations, and liabilities of the Company, whether arising in contract, tort, or otherwise, shall be solely the debts, obligations, and
liabilities of the Company. No Member shall be obligated personally for any such debt, obligation, or liability of the Company solely by reason of being a Member. 
 Section 3.5 Actions by the Members. 
 (a) Vote. Each Member shall have the
right to vote ratably in proportion to its respective Percentage on all matters to be submitted to the Members. Except as otherwise provided in this Agreement, the affirmative vote of Members holding a majority of the aggregate Percentages of all
Members shall be required to take any action being voted upon. 
 (b) Meetings. The Members entitled to vote on or
approve a matter or take any action may do so at a meeting, in person or by proxy. Any Member or Members may call a meeting of the Members to consider a matter by giving notice to the other Members of the time and place of the meeting on or before
the third Business Day before the meeting, or in case of an emergency such shorter period as the Person(s) calling the meeting may determine appropriate under the circumstances, which 
  

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 notice must specify the matter to be considered. The meeting must be held in the United States or in
another place acceptable to all Members, or conducted by telephone conference or other electronic means. A Member may waive notice before or after the meeting, and shall be deemed to waive notice if it attends unless it specifically states at its
first appearance at the meeting that it objects on the basis of improper notice. 
 (c) Action Without Meeting. Any
vote, approval, or other action required or permitted to be taken by the Members may be taken without a meeting if Members holding Percentages sufficient to approve the matter or take the action under the terms of this Agreement consent to the
action in writing and the writing or writings are filed with the minutes of the proceedings of the Members. A copy of the action taken by written consent shall be sent promptly to all Members and filed with the records of the Company. 
 Section 3.6 Power to Bind the Company. 
 Except as otherwise provided in this Agreement, the Members in their capacity as Members shall not take part in the management of the business or transact any business for the Company, nor shall they have power to sign for or to bind the
Company; provided, however, that the Members shall have the right to approve or consent to certain matters, as provided herein. Notwithstanding the foregoing, but subject to Sections 4.12, 4.13 and 4.15, any officer of the Company may
delegate to a Member that provides services to the Company on a full-time basis the authority to manage, transact business, expend money, bind the Company or otherwise conduct business on the Company’s behalf, and, subject to any restraints
imposed by the President or the Board, any officer of the Company who is also a Member shall have authority to do any of the foregoing. 
 Section 3.7 Access. 
 Without limiting the provisions of Section 10.9, the Company shall, and shall cause its
officers, employees, auditors, legal counsel, advisers, and other agents or representatives to: 
 (a) afford the officers,
employees, auditors, and other agents or representatives of each Member during normal business hours and upon reasonable notice reasonable access at all reasonable times to its officers, employees, auditors, advisers, legal counsel, other agents and
representatives, properties, offices, plants, and other facilities and to all books and records; and 
 (b) afford each Member
the opportunity to discuss the Company’s affairs, finances, and accounts with the Company’s officers, employees, auditors, advisers, legal counsel, and other agents and representatives from time to time as that Member may reasonably
request without creating an undue burden on the Company. 
  

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 Section 3.8 Representations and Warranties. 
 Each Member represents and warrants to the Company and the other Members that: 
 (a) If it is not a natural person, it is an entity duly formed, validly existing, and (if applicable) in good standing in the jurisdiction
of its formation and has all power and authority to own its Membership Interest and to enter into and perform its obligations under this Agreement, and its execution, delivery, and performance of this Agreement (or of the instrument by which it
agrees to be bound by this Agreement) has been duly authorized by all necessary action of its board of directors or other governing authority and its equity owners to the extent required. 
 (b) It has duly executed this Agreement (or that instrument), and this Agreement constitutes its valid and binding obligation, enforceable
in accordance with its terms. 
 (c) Its execution and delivery of this Agreement (or that instrument) and its performance of
this Agreement do not, and will not, (i) if it is not an individual, violate or conflict with any provision of its constituent documents, (ii) violate applicable law, (iii) result in a material violation or breach of, or constitute
(with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation, or acceleration) under, any note, bond, indenture, lien, mortgage, lease, permit, guaranty, or other agreement, instrument, or
obligation to which it or any of its Affiliates is a party or by which any of their respective properties may be bound, or (iv) require any material consent, approval, authorization, or permission of, or filing with or notification to, any
governmental authority or any other Person. 
 (d) It is acquiring its Membership Interest solely for investment for its own
account and not for distribution or sale to others in connection with any distribution or public offering. 
 (e) It
understands that there will not be any public market for the Membership Interests and that it must bear the economic risk of an investment in the Company for an indefinite period of time because (i) its Membership Interest has not been
registered under the Securities Act of 1933 or any applicable state securities laws and (ii) it may Transfer or Pledge, in whole or in part, its Membership Interest only in accordance with this Agreement and then only if its Membership Interest
is subsequently registered in accordance with the provisions of the Securities Act of 1933 and applicable state securities laws, unless registration is not required. 
 (f) It understands that the Company is not obligated to register its Membership Interest for resale under the Securities Act of 1933 or
any applicable state securities laws. 
 (g) It is a “qualified institutional buyer” within the meaning of rule 144A
of the Securities and Exchange Commission or an “accredited investor” within the meaning of Regulation D of the Securities and Exchange Commission and is able to bear the economic risk of such an investment in the Company for an indefinite
period of time, and it has no need for liquidity of this investment and it could bear a complete loss of this investment. If it is either a “qualified purchaser” within the meaning of the Investment Company Act of 1940 or is an entity
formed and is being utilized primarily for the purpose of making an investment 
  

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 in the Company, each of the shareholders, partners, members, or other holders of equity or beneficial
interests in such member is such a qualified purchaser. 
 (h) It has the knowledge and sophistication to evaluate the risks
of investing in the Company. It has conducted its own investigation and due diligence into the Company and the Project and is satisfied that its investment in the Company is appropriate. It understands and agrees that none of the other Members,
their Affiliates, or the Company, has made nor will make any representation or warranty with respect to the worthiness, terms, value, or any other aspect of the Company, the Project or the Membership Interests, and it explicitly disclaims any
warranty, express or implied, with respect to such matters. In addition, it specifically acknowledges, represents, and warrants that it is not relying on any other Member or its Affiliates (i) for its investigation or due diligence concerning,
or evaluation of, the Company or any related transaction or (ii) with respect to tax and other economic considerations involved in an investment in the Company. 
 (i) No portion of the assets being used by it to purchase and hold its Membership Interest constitute assets of a plan within the meaning
of section 3(32) of Employee Retirement Income Security Act of 1974. 
 (j) No broker, investment banker, financial advisor,
or other Person is entitled to any broker’s, finder’s, financial advisor’s, or other similar fee or commission in connection with the Company based upon arrangements made by or on behalf of that Member for which the Company, the other
Members, or any of their respective Affiliates may be liable, other than the development fee, if any. 
 Section 3.9
Certificates. 
 (a) Article 8 Opt-In. The Company hereby irrevocably elects that all Membership Interests in
the Company shall be securities governed by Article 8 of the Uniform Commercial Code. 
 (b) Right to Issue
Certificates. The ownership of a Membership Interest in the Company by a Member shall be evidenced by a certificate (a “Certificate”) issued by the Company. 
 (c) Form of Certificates. Certificates attesting to the ownership of Membership Interests in the Company shall be in substantially
the form set forth in Exhibit B and shall state that the Company is a limited liability company formed under the laws of the State of Delaware, the name of the Member to whom the Certificate is issued, and that the Certificate represents a
limited liability company interest within the meaning of section 18-702(c) of the Act. Each Certificate shall bear the legends set forth in Exhibit B. 
 (d) Execution. Each Certificate shall be signed by an officer or a representative of the Company designated by the Board.

  

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 (e) Registrar. The Company shall maintain an office where Certificates may be
presented for registration of Transfer or Pledge or for exchange. Such Person as the Board may designate shall act as registrar and shall keep a register of the Certificates and of their Transfer, Pledge, and exchange. 
 (f) Issuance. The Certificates of the Company shall be numbered and registered in the interest register or transfer books of the
Company as they are issued. 
 (g) Membership Lists. The Company shall preserve in as current a form as is reasonably
practicable the most recent list available to it of the names and addresses of all Members. 
 (h) Transfer and
Exchange. When Certificates are presented to the Company with a request to register a Transfer, the Company shall register the Transfer or Pledge or make the exchange on the register or transfer books of the Company if the requirements set forth
in this Agreement for the Transfer or Pledge are met; provided, that any Certificates presented or surrendered for registration of Transfer, Pledge, or exchange shall be duly endorsed or accompanied by a written instrument of Transfer in form
satisfactory to the Company duly executed by the holder of the Certificate or that Person’s attorney duly authorized in writing. 
 (i) Record Holder. Except to the extent that the Company shall have received written notice of a Transfer or Pledge of a Membership Interest and the Transfer or Pledge complies with the requirements of this
Agreement, the Company shall be entitled to treat the Person in whose name any Certificates issued by the Company stand on the books of the Company as the absolute owner of that Membership Interest, and shall not be bound to recognize any equitable
or other claim to, or interest in, that Membership Interest on the part of any other Person. 
 (j) Replacement
Certificates. If any mutilated Certificate is surrendered to the Company, or the Company receives evidence to its satisfaction of the destruction, loss, or theft of any Certificate, the Company shall issue a replacement Certificate if the
requirements of section 8-405 of the Uniform Commercial Code are met, but no indemnity or bond shall be required. The Company may charge for its expenses incurred in connection with replacing a Certificate. 
 ARTICLE IV 
 MANAGEMENT 
 Section 4.1 Board of Directors. 
 Except as otherwise required by the Act or provided in this Agreement, the Board shall have complete and exclusive control of the management of the Company’s business and affairs, including the right, power and authority on behalf of
the Company and in its name to execute documents or other instruments and exercise all of the rights, powers and authority of the Company under the Act and to take any and all actions that the Company may be entitled to take. 
  

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 Section 4.2 Number of Directors. 
 The Board shall consist of five Directors. USEY Overseas shall have the right to elect four Directors (the “USEY Directors”). Marathon
shall have the right to elect one Director (the “Marathon Director”); provided, that if Marathon’s Percentage is less than 10% at any time, it shall no longer have the right to elect a Director and the Marathon Director
shall be elected by USEY Overseas. 
 USEY hereby elects the following persons as the initial USEY Directors to serve until their respective
successors are duly elected and qualified: 
 Asher Fogel 
 Henry Schneider 
 Adam Greene 
 James Boffardi 
 Marathon hereby elects the following person as the initial Marathon Director to serve until his successor is duly elected and qualified: 
 Richard Brandt 
 Section 4.3 Election of Directors. 
 In any and all elections of the Directors (including the filling of vacancies), the
Company hereby agrees to take such actions as are necessary, and each Member hereby agrees to vote and otherwise use his, her or its best efforts, so as to fix the size of the Board at five Directors in accordance with the terms of
Section 4.2. The Members may elect their Directors by giving notice to the Board of the name and contact information of such Directors; provided that any replacement of the Marathon Director with any individual other than Thomas White,
Robert Braasch, Gregg Elesh or Richard Brandt shall be approved by USEY Overseas, which approval shall not be unreasonably withheld or delayed. 
 Section 4.4 Removal or Resignation of Directors. 
 A Director may be removed (i) by the Member electing such
Director at any time or (ii) by any other Member for cause. Upon the resignation or removal of a Director, the Members shall elect a new Director in accordance with Section 4.3 hereof. 
 Section 4.5 Meetings. 
 A meeting
of the Board may be called by any of the Directors. All meetings of the Board shall be held at such times and such locations as from time to time may be fixed by the Board. Meetings of the Board may be held in person, telephonically or by video
conference. 
  

 14 

 Section 4.6 Action Without a Meeting. 
 Any action required or permitted to be taken at a meeting of the Board may be taken without a meeting, without prior notice and without a vote if a
consent or consents in writing, setting forth the actions so taken, shall be signed by all of the Directors. 
 Section 4.7 Notice of
Meetings. 
 Notice of every meeting of the Board shall be given by the Company (or by the Director calling such meeting) by letter,
telephone or facsimile and shall be sent not less than 48 hours nor more than 30 days before the date of such meeting to each Director at such Director’s address, telephone number or facsimile number on Exhibit A attached hereto or
such other address, telephone number or facsimile number as such Director may have provided in writing to the Board. Notice of every meeting of the Board shall state the place, day and hour of the meeting and the purpose or purposes for which the
meeting is called. Such further notice shall be given as may be required by the Act, but meetings may be held without notice if all the Directors are present in person or by proxy or if notice is waived in writing by those not present, either before
or after the meeting. 
 Section 4.8 Quorum. 
 A majority of the Directors then in office, all of whom shall be present in person at any meeting duly called, shall constitute a quorum for the transaction of business. If less than a quorum shall be in attendance at
the time for which a meeting shall have been called, the meeting may be adjourned by a majority of the Directors present without notice other than by announcement at the meeting. 
 Section 4.9 Voting. 
 At any
meeting of the Directors, each Director entitled to vote on any matter coming before the meeting shall, as to such matter, have one vote. Except as otherwise provided in this Agreement, the affirmative vote of a majority of the Directors present at
a meeting at which a quorum is present shall be sufficient to take any action being voted upon at such meeting. 
 Section 4.10
Expenses. 
 The Company shall pay the reasonable out-of-pocket expenses, including reasonable travel and lodging expenses, of all
Directors in attending meetings of the Board and committees thereof. 
 Section 4.11 Third Party Reliance. 
 Third parties dealing with the Company shall be entitled to rely conclusively upon the power and authority of the Board as set forth herein. 

 

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 Section 4.12 Duties of Directors. 
 The Directors or their delegates, as the case may be, shall devote such of their time, effort and skill to the business and affairs of the Company as they
may, in their sole discretion, deem to be necessary and proper for the Company’s welfare and success. In carrying out their duties and exercising their rights under this Agreement, the Directors shall act in the best interest of the Company.

 Section 4.13 Transactions with Directors and Affiliates. 
 Subject to obtaining any consent expressly required hereunder, the Board may, in conducting the business and affairs of the Company, cause the Company to
enter into agreements or arrangements, including the allocation of the Company’s overhead, and agreements relating to salaries and retainers, or otherwise deal with Affiliates of Members or Directors, individuals with whom a Member or Director
is related and Persons that have a material financial interest in a Member or Director or in which a Member or Director has a material financial interest; provided that (i) the terms of each such agreement or arrangement are no less
favorable than the terms obtainable by the Company in an arms-length transaction with an unaffiliated third party, (ii) each such agreement or arrangement shall provide that it is terminable upon 30 days’ notice without penalty or other
adverse consequence to the Company, (iii) each such agreement or arrangement is reasonably necessary for the transaction of the Company’s business, (iii) 10 days’ advance notice of each such agreement or arrangement, including
the identity of the parties and the terms thereof, is given to the Members by the Board and (v) the Company shall give the Board an annual report of all payments under any such agreements or arrangements within 60 days after the end of each
calendar year. The Company shall not make any loans or advances to any Member or to any Affiliate of any Member. Any such agreements or arrangements entered into pursuant to this Section 4.13 providing for an aggregate payment by the Company
over the term of such agreement or arrangement in excess of $100,000 shall require the prior consent of Marathon, which consent shall not be unreasonably withheld or delayed. In the event that Marathon does not give its consent or disapproval within
15 days of notice of the proposed transaction to, and request for consent to the proposed transaction by, Marathon, such consent shall be deemed to have been given. 
 Section 4.14 Certain Transactions. 
 The Board shall cause the Company to enter into the Senior
Debt Documents and to perform its obligations under the Senior Debt Documents. 
 Section 4.15 Officers. 
 The Board may appoint such officers of the Company as it may deem appropriate and may remove any such officer at any time with or without cause. The Board
may delegate to the Company’s officers such powers and duties, subject to Section 4.13, as it may deem appropriate and subsequently revoke or modify those powers and duties, and except to the extent that the Board determines otherwise,
each officer will have the powers and duties normally associated with an officer having a similar title with a Delaware corporation. 
  

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 The initial officers of the Company shall be as follows, and shall hold such office until their
respective successors are duly appointed and qualified: 
  

			
	 Name
	  	 Title

	Asher Fogel	  	Chief Executive Officer
	Henry Schneider	  	President
	Adam Greene	  	Secretary and Treasurer

 Section 4.16 Indemnification and Insurance. 
 (a) Indemnification. The Company shall indemnify and hold harmless each Member, Director and officer of the Company and each
individual serving, at the request of the Company, as an officer or director of any other Person (individually an “indemnitee”) from and against any and all losses, claims, damages, liabilities, expenses (including reasonable legal
fees and disbursements), judgments, fines, settlements, and all other amounts arising from any and all claims, demands, actions, suits, or proceedings, civil, criminal, administrative, or investigative, in which the indemnitee may be involved, or
threatened to be involved, as a party or otherwise by reason of his or her status as a Director, Member or officer of the Company or by reason of his or her status, at the request of the Company, as a director or officer of any other Person, or his
or her management of the affairs of the Company or by his or her management, at the request of the Company, as a director or officer of any other Person, or that relate to the Company or relate to his or her serving, at the request of the Company,
as a director or officer of any other Person, or any of their respective properties, businesses, or affairs, whether or not the indemnitee continues to be a Director, Member or officer at the time any such liability or expense is paid or incurred,
if the indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or not opposed to, the best interests of the Company and in accordance with the terms and provisions of this Agreement, and, with respect to any criminal
proceeding, had no reasonable cause to believe his or her conduct to be unlawful; provided that no indemnitee shall be entitled to indemnification if it shall be finally determined that such indemnitee’s act or omission constituted
willful misconduct or gross negligence. The Company shall pay expenses (including legal fees and disbursements) incurred in defending any proceeding in advance of the final disposition of such proceeding upon receipt of an undertaking by or on
behalf of the indemnitee to repay such amount if it is ultimately determined by a court of competent jurisdiction that the indemnitee is not entitled to be indemnified by the Company as authorized hereunder. 
 (b) Other Indemnities. The Board may cause the Company to indemnify any other Person on such terms as it reasonably may determine.

 (c) Insurance. The Board may cause the Company to procure insurance covering indemnification liabilities of the
Company. 
  

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 ARTICLE V 
 CAPITAL STRUCTURE AND CONTRIBUTIONS 
 Section 5.1 Capital Contributions. 
 USEY Overseas will make an initial Capital Contribution in the amount of $5,000,000 (the “Initial Capital Contribution”) and, in
addition, USEY Overseas will contribute an additional Capital Contribution of $8,125,000 and Marathon will make a Capital Contribution of $375,000, in each case upon and simultaneously with the execution and closing of the Senior Debt Documents;
provided that the Initial Capital Contribution shall be offset by all funds previously expended by USEY Overseas on behalf of the Company. USEY Overseas shall provide to Marathon the same evidence of payment of the $5,000,000 Initial Capital
Contribution that it provides to the lenders under the Senior Debt Documents. In addition, Marathon will contribute an additional $620,000 within 30 days of the closing of the financing under the Senior Debt Documents, which amount shall be paid
directly to and be retained by USEY Overseas and shall not result in any changes to the Percentages of either USEY Overseas or Marathon; provided that if Marathon does not contribute this amount within such 30-day period, Marathon’s
Percentage shall be automatically reduced to 19.66%. USEY and Marathon will also each make a Capital Contribution in the amount of its respective portion of the Contingent Equity Amount as provided in Section 5.5(c). USEY and Marathon also
agree that paragraph 3 of the letter agreement, dated May 22, 2006, from USEY to Richard T. Brandt, II of Marathon Capital, LLC (which is one of two letter agreements dated May 22, 2006, and a copy of which is attached hereto as Exhibit C)
is terminated and is of no further force and effect. USE Overseas agrees that any fees and expenses (i) incurred in connection with the borrowing or other financing by USE Overseas of its Capital Contributions in GBGH (including, without
limitation, all fees and expenses payable to Silverpoint Finance, LLC and its legal counsel) or (ii) not otherwise directly related to negotiation and execution of this Agreement or the financing contemplated by the Senior Debt Documents, shall
not constitute obligations of the Company. 
 Section 5.2 Additional Contributions. 
 (a) Except (i) as otherwise provided in the Senior Debt Documents, (ii) in connection with the issuance of new Membership
Interests as provided in Section 3.2(a), (iii) for the Initial Capital Contribution and the additional Capital Contributions expressly enumerated in Section 5.1, and (iv) as provided in Section 5.5(c), a Member may make
Capital Contributions only if the Board approves such additional Capital Contributions. 
 (b) In the event the Board
determines that the Company needs additional funds in excess of the amount set forth in clause (a) above and such funds are not available from operating cash flows of the Company or from the proceeds of third party financings available on
commercially reasonable terms (in each case, as determined by the Board) (a “Necessary Contribution”), the Board shall give notice of such Necessary Contribution to each of the Members and the Members shall have the option to
contribute their pro rata share (based upon each Member’s Percentage) of such amount. Each of the Members shall notify the Board within five (5) Business Days of its decision whether to contribute additional capital. If any of the

  

 18 

 Members elects to contribute additional capital (each, a “Contributing Member”), such
Contributing Member shall make a Capital Contribution to the Company in the amount of its pro rata share of the Necessary Contribution on the date specified therefor in the notice from the Board. If any of the other Members elects not to contribute
additional capital or fails to contribute its pro rata share of the Necessary Contribution (each, a “Non-Contributing Member”), the sole remedy for such election or failure shall be that the Percentages shall be adjusted based on
the value of the Membership Interests of each Member (without taking into account the status of such Member as a minority member) at the time the Necessary Contribution is paid by any Member and taking into account the amount of such payment, which
value shall be determined by the Board and notice thereof given to the Non-Contributing Member; provided that, on or before the tenth day following such notice, the Non-Contributing Member may notify the Board that it disagrees with such
valuation. If the Non-Contributing Member has not given any such notice, the valuation determined by the Board shall be conclusively binding on the Members. If the Non-Contributing Member does give such notice and proposes a different valuation, and
if the Board and the Non-Contributing Member have not agreed on the valuation, then the Board or the Non-Contributing Member, by notice to the others on or after the 60th day following the notice from the Non-Contributing Member under the second
immediately preceding sentence, may require that the valuation be determined by such internationally recognized investment bank as they may agree (or if they do not agree, such investment bank as is designated by Oscar D. Folger, Esq.). The Board on
the one hand and the Non-Contributing Member on the other each shall inform the investment bank of a proposed valuation, and they shall instruct the investment bank to determine, as soon as practicable, which of the two proposed valuations is closer
to the amount that an informed and willing purchaser under no compulsion to buy would pay to acquire the relevant Membership Interests in an arm’s length transaction and that an informed and willing seller under no compulsion to sell would
accept for the relevant Membership Interests in an arm’s length transaction. The Company and the Non-Contributing Member shall split the costs of the investment bank such that the Non-Contributing Member’s share of such costs, after taking
into account the portion of the Company’s share of such costs which would be allocated to it in accordance with its Percentage, is 50%. The proposed valuation as so determined by the investment bank shall be conclusively binding on the Company
and the Non-Contributing Member. Notwithstanding the foregoing or any other provision of this Agreement, to the extent that any additional equity is required by the Senior Debt Documents to be contributed to the Company at the closing under the
Senior Debt Documents, there shall be no change or adjustment in the Percentages of the Members to reflect any Capital Contribution made by any Member at the time of the closing in order to satisfy such requirement. 
 Section 5.3 No Withdrawal of Capital Contributions. 
 A Member has no right to withdraw its capital contributions, but is entitled to distributions as (but only when and to the extent) provided in this Agreement, including on liquidation of its Membership Interest.

  

 19 

 Section 5.4 Maintenance of Capital Accounts. 
 The Company shall establish for each Member a capital account on its books which shall reflect the Initial Capital Contributions of each Member (each a
“Capital Account”). Once established on the books of the Company, each Member’s Capital Account thereafter shall be (i) credited with (A) additional Capital Contributions, if any, to the capital of the Company made by
such Member, (B) that Member’s allocable share of the Company’s Net Profits, as determined in accordance with Article VI, (C) any positive adjustment required in connection with a property revaluation pursuant to Section 6.5
and (D) the amount of any Company liabilities assumed by such Member or which are secured by any Company assets distributed to such Member, and (ii) debited with (A) any distributions by the Company of cash or other property to that
Member, (B) that Member’s allocable share of the Company’s Net Losses, as determined in accordance with Article VI, (C) any negative adjustment required in connection with a property revaluation pursuant to Section 6.5 and
(D) the amount of any liabilities of that Member which are assumed by the Company or that are secured by any property contributed by that Member to the Company. The provisions of this Agreement relating to the maintenance of Capital Accounts
are intended to comply with section 1.704-1(b) of the Regulations, and shall be interpreted and applied in a manner consistent with those Regulations. 
 Section 5.5 Credit Support. 
 (a) Arrangement of Credit Support. The Board
may cause the Company to procure guarantees, bonds or letters of credit to support obligations of the Company (“Credit Support,” with the Person providing the Credit Support being called a “Credit Support Provider”)
and may cause the Company to enter into agreements and pay fees in respect of Credit Support on such terms as it may determine appropriate. Notwithstanding the foregoing, if the Credit Support Provider is a Member or an Affiliate of a Member,
(i) the fees to be paid may not exceed the fees that an unaffiliated third party would charge for providing the same Credit Support on substantially the same terms and conditions and (ii) the Board must first notify each other Member that
a Member or its Affiliate intends to provide Credit Support and the terms and conditions on which they will be provided, whereupon each other Member may elect, in its sole discretion by notice to the Board on or before the tenth Business Day
following the notice from the Board, to provide or procure that Member’s Percentage of the Credit Support on the same terms and conditions, but only if that Member (or the Credit Support Provider it procures) meets the criteria required by the
recipient of the Credit Support. 
 (b) Support from Member. In connection with any Credit Support under
Section 5.5(a), to the extent the funds to pay for such Credit Support are not available from operating cash flows of the Company or from the proceeds of third party financings available on commercially reasonable terms (in each case, as
determined by the Board), the Board shall give notice of such requirement to each Member, and the Members shall have the option to commit their credit to pay their Percentage of any amounts paid by the Credit Support Provider to the beneficiary of
the Credit Support upon reasonable advance notice to the Members. In the event a Member does not so commit its credit (a “Non-Participating Member”), the sole remedy is that the Percentages shall be adjusted based on the value of
the Membership Interests of each Member (without taking into account the status of such Member as a minority member) at the time the Credit Support is provided and taking into account the amount of such Credit Support, which value shall be
determined by the Board and notice thereof given to the Non-Participating Member; 
  

 20 

 provided that, on or before the tenth day following such notice, the Non-Participating Member may
notify the Board that it disagrees with such valuation. If the Non-Participating Member has not given any such notice, the valuation determined by the Board shall be conclusively binding on the Non-Participating Member. If the Non-Participating
Member does give such notice and proposes a different valuation, and if the Board and the Non-Participating Member have not agreed on the valuation, then the Board or the Non-Participating Member, by notice to the others on or after the 60th day
following the notice from the Non-Participating Member under the second immediately preceding sentence, may require that the valuation be determined by such internationally recognized investment bank as they may agree (or if they do not agree, such
investment bank as is designated by Oscar D. Folger, Esq.). The Board on the one hand and the Non-Participating Member on the other each shall inform the investment bank of a proposed valuation, and they shall instruct the investment bank to
determine, as soon as practicable, which of the two proposed valuations is closer to the amount that an informed and willing purchaser under no compulsion to buy would pay to acquire the relevant Membership Interests in an arm’s length
transaction and that an informed and willing seller under no compulsion to sell would accept for the relevant Membership Interests in an arm’s length transaction. The Company and the Non-Participating Member shall split the costs of the
investment bank such that the Non-Contributing Member’s share of such costs, after taking into account the portion of the Company’s share of such costs which would be allocated to it in accordance with its Percentage, is 50%. The proposed
valuation as so determined by the investment bank shall be conclusively binding on the Company and the Non-Participating Member. On or before the fifth Business Day following notice from the Credit Support Provider, the Company or the Board that the
Credit Support Provider has made a payment in respect of which a Member’s credit has been committed in accordance with this Section 5.5(b), such Member shall pay to the Credit Support Provider its Percentage of the amount so requested (or
such greater amount as it may have agreed to pay). 
 (c) Contingent Equity; SB Letter of Credit. Pursuant to the
Senior Debt Documents, it is a condition to the closing that $21,000,000 of additional equity (in addition to the amounts referred to in Section 5.1) be contributed to the Company and be deposited in a reserve account to be used to pay various
costs of the Project (including debt service) to the extent that other sources are not sufficient (such funds, the “Contingent Equity Amount”). USEY Overseas shall provide $17,000,000 of the Contingent Equity Amount and Marathon
shall provide $4,000,000 of the Contingent Equity Amount. The Senior Debt Documents also provide that, within 45 days of closing, the Contingent Equity Amount may be replaced by an SB Letter of Credit with a drawing amount of $21,000,000, and the
Contingent Equity Amount will be released. The SB Letter of Credit is required to be fully cash collateralized, and USEY and Marathon agree that when released, the Contingent Equity Amount will be used to collateralize the SB Letter of Credit. When
the SB Letter of Credit is provided, each Member shall be deemed to have posted cash collateral in an amount equal to the amount of the Contingent Equity Amount provided by such Member, which amounts shall be held in separate accounts by the issuer
of the SB Letter of Credit. Notwithstanding any other provision of this Agreement (including, without limitation, the provisions of Article VI), the release of the Contingent Equity Amount shall not be treated as a distribution of cash or a
withdrawal of capital for purposes of this Agreement. 
  

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 ARTICLE VI 
 ALLOCATIONS AND DISTRIBUTIONS 
 Section 6.1 Allocations of Net Profits and Net Losses from
Operations. 
 (a) After giving effect to the special allocations set forth in Sections 6.1(c) and 6.2 hereof, Net Profits
of the Company shall be allocated among the Members as follows: 
 (i) first, to offset Net Losses previously allocated
pursuant to Section 6.1(b) in an amount equal to any prior Net Loss allocations, to be shared by the Members in proportion to the manner in which such prior Net Losses were shared by the Members; 
 (ii) second, to USEY Overseas in an amount equal to its aggregate accrued Preferred Return less amounts previously allocated pursuant to
this Section 6.1(a)(ii); and 
 (iii) thereafter, among the Members in proportion to their respective Percentages.

 (b) After giving effect to the special allocations set forth in Sections 6.1(c) and 6.2 hereof, Net Losses of the Company
shall be allocated among the Members in proportion to their respective Percentages. 
 (c) Before allocating Net Profits and
Net Losses in accordance with Sections 6.1(a) and 6.1(b), an amount of gross income shall be allocated to Marathon equal to the excess of the aggregate distributions to Marathon pursuant to Sections 6.4(b)(ii) and 6.4(b)(iii) over all prior gross
income allocations pursuant to this Section 6.1(c). 
 (d) If the Members’ Percentages change, the Members shall
amend the allocation provisions in Section 6.1 as necessary to cause the provisions in that Section to comply with Section 704(b) of the Code. 
 Section 6.2 Special Allocations. 
 The following special allocations shall be made in the
following order: 
 (a) Minimum Gain Chargeback. Except as otherwise provided in section 1.704-2(f) of the Regulations,
notwithstanding any other provision of this Section 6.2, if there is a net decrease in Partnership Minimum Gain during any Fiscal Year, each Member shall be specially allocated items of Company income and gain for such Fiscal Year (and, if
necessary, for subsequent 
  

 22 

 Fiscal Years) in an amount equal to such Member’s share of the decrease in Partnership Minimum Gain,
determined in accordance with section 1.704-2(g) of the Regulations. Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant hereto. The items to be so
allocated shall be determined in accordance with sections 1.704-2(f)(6) and 1.704-2(j)(2) of the Regulations. This Section 6.2(a) is intended to comply with the minimum gain chargeback requirement in section 1.704-2(f) of the Regulations and
shall be interpreted consistently therewith. 
 (b) Partner Minimum Gain Chargeback. Except as otherwise provided in
section 1.704-2(i)(4) of the Regulations, notwithstanding any other provision of this Section 6.2, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain attributable to a Partner Nonrecourse Debt during any Fiscal Year, each
Member who has a share of the Partner Nonrecourse Debt Minimum Gain attributable to such Partner Nonrecourse Debt, determined in accordance with section 1.704-2(i)(5) of the Regulations, shall be specially allocated items of Company income and gain
for such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to such Member’s share of the net decrease in Partner Nonrecourse Debt Minimum Gain attributable to such Partner Nonrecourse Debt, determined in accordance
with section 1.704-2(i)(4) of the Regulations. Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be
determined in accordance with sections 1.704-2(i)(4) and 1.704-2(j)(2) of the Regulations. This Section 6.2(b) is intended to comply with the minimum gain chargeback requirement in section 1.704-2(i)(4) of the Regulations and shall be
interpreted consistently therewith. 
 (c) Qualified Income Offset. In the event a Member unexpectedly receives any
adjustments, allocations, or distributions described in sections 1.704-1(b)(2)(ii)(d)(4), (5), or (6) of the Regulations, items of Company income and gain shall be specially allocated to such Member in an amount and manner sufficient to
eliminate to the extent required by the Regulations, the Adjusted Capital Account Deficit of such Member as quickly as possible; provided, however, that an allocation pursuant to this Section 6.2(c) shall be made only if and to
the extent that the Member would have such an Adjusted Capital Account Deficit after all other allocations provided for in this Agreement have been tentatively made as if this Section 6.2(c) were not in this Agreement. This Section 6.2(c)
is intended to comply with the qualified income offset provision in section 1.704-1(b)(2)(ii)(d) of the Regulations, and shall be interpreted and applied in a manner consistent therewith. 
 (d) Gross Income Allocation. In the event that any Member has a deficit Capital Account at the end of any Fiscal Year which is in
excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of sections
1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this
Section 6.2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.2(a) and this
Section 6.2(d) were not in this Agreement. 
  

 23 

 (e) Partner Nonrecourse Deductions. Any Partner Nonrecourse Deductions for any
Fiscal Year shall be specially allocated to the Member who bears the economic risk of loss with respect to the Partner Nonrecourse Debt to which such Partner Nonrecourse Deductions are attributable in accordance with section 1.704-2(i)(1) of the
Regulations. 
 (f) Code Section 754 Adjustment. In the discretion of the Board, the Company may elect, pursuant
to section 754 of the Code, to adjust the basis of Company Property as permitted and provided in sections 734 and 743 of the Code. 
 (g) Allocations Relating to Taxable Issuance of Membership Interests. Any income, gain, loss, or deduction realized as a direct or indirect result of the issuance of an interest in the Company to a Member ( the “issuance
items”) shall be allocated among the Members so that, to the extent possible, the net amount of such issuance items, together with all other allocations under this Agreement to each Member, shall be equal to the net amount that would have
been allocated to each such Member if the issuance items had not been realized. 
 (h) Limitation on Allocation of Net
Loss. To the extent that any allocation of Net Loss would cause or increase an Adjusted Capital Account Deficit as to any Member, such allocation of Net Loss shall be reallocated among the other Members in accordance with their respective
Percentages, subject to the limitations of this Section 6.2(h). 
 (i) Curative Allocations. The allocations set
forth in Sections 6.2(a)-(h) (the “regulatory allocations”) are intended to comply with certain requirements of the Regulations. It is the intent of the Members that to the extent possible, all regulatory allocations shall be
offset either with other regulatory allocations or with special allocations of other items of Company income, gain, loss, or deduction pursuant to this Section 6.2(i). Therefore, notwithstanding any other provision of Section 6.1 or this
Section 6.2 (other than the regulatory allocations), the Board shall make such offsetting special allocations of Company income, gain, loss, or deduction in whatever manner the Board determines appropriate so that, after such offsetting
allocations are made, each Member’s Capital Account balance is, to the extent possible, equal to the Capital Account balance such Member would have had if the regulatory allocations were not part of this Agreement and all Company items were
allocated pursuant to Section 6.1 and this Section 6.2. In exercising its discretion under this Section 6.2(i), the Board shall take into account future regulatory allocations that, although not yet made, are likely to offset other
regulatory allocations previously made. 
 (j) Other Allocation Rules. 
 (i) For purposes of determining the profits, losses, or any other items of income, gain, loss and deduction allocable to any period,
profits, losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board using any permissible method under Code section 706 and the Regulations thereunder. 
  

 24 

 (ii) Solely for purposes of determining a Member’s proportionate share of the
“excess nonrecourse liabilities” of the Company, within the meaning of section 1.752-3(a)(3), the Members’ interests in Company profits are in proportion to their Percentage. 
 (iii) Nonrecourse Deductions shall be allocated among the Members in accordance with their respective Percentages. 
 Section 6.3 No Right to Distributions. 
 A Member has the right to demand or receive distributions of any amount only as expressly provided in this Article VI or in liquidation of its Membership Interest as provided in this Agreement. 
 Section 6.4 Distributions. 
 (a) Subject to, so long as they are in effect, the provisions of the Senior Debt Documents, the Company shall distribute (i) at least once during each quarter of each Fiscal Year, net cash realized from
operations of the Company and its direct or indirect wholly-owned subsidiaries, cash from the sales of assets or other capital events of the Company and its direct or indirect wholly-owned subsidiaries, (ii) net proceeds from the sale of equity
interests in any direct or indirect controlled subsidiary and (iii) the net proceeds of any debt issuance of the Company or its direct or indirect wholly-owned subsidiaries, in each case, less pending costs and expenses (including amounts
currently owed on all senior and subordinated indebtedness) and any reasonable reserves that the Board determines that the Company or any such subsidiary should maintain. 
 (b) All distributions, including any proceeds from the sale of equity interests in any subsidiary, shall be made as follows:
(i) first, (A) 95% to USEY Overseas and (B) 5% to Marathon, until USEY Overseas has received an aggregate amount equal to its accrued Preferred Return to the date of any such distribution, (ii) second, (A) 95% to USEY
Overseas and (B) 5% to Marathon, until USEY Overseas has received an aggregate amount equal to its Initial Capital Contribution, and (iv) fourth, to the Members pro rata according to their Percentages. 
 (c) The Company is authorized to withhold from distributions to a Member, or with respect to allocations to a Member, and to pay over to a
federal, foreign, state, or local government, any amounts required to be withheld pursuant to the Code or any provisions of any other federal, foreign, state, or local law. Any amounts so withheld shall be treated as having been distributed to that
Member as provided in this Article VI for all purposes of this Agreement, and shall be offset against the current or next amounts otherwise distributable to that Member. 
  

 25 

 Section 6.5 Property Revaluation. 
 The Company shall revalue the Company Property at the election and in the discretion of the Board, in which case the Company shall take all steps
necessary to accomplish such revaluation, including, but not limited to, the maintenance of appropriate books and records, the adjustment of Capital Accounts in accordance with section 1.704-1(b)(2)(iv)(g) of the Regulations, and the determination
of allocations for income tax purposes in accordance with section 1.704-1(b)(2)(iv)(f)(4) of the Regulations. 
 Section 6.6 Tax
Allocations. 
 (a) Except as otherwise provided in this Section 6.6, for income tax purposes under the Code and the
Regulations each Partnership item of income, gain, loss, and deduction shall be allocated among the Members in the same manner as its correlative item of “book” income, gain, loss, or deduction is allocated pursuant to Sections 6.1 and
6.2. 
 (b) In accordance with Code section 704(c) and the Regulations thereunder, items of income, gain, loss, and deduction
with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted tax basis of such property to the Company for federal
income tax purposes and its fair market value at the time of contribution, in a manner determined by the Board. 
 Section 6.7 Public
Offerings. 
 In the event that one or more direct or indirect wholly-owned subsidiaries of the Company consummates a public offering of
its debt or equity securities, then the Company shall forthwith distribute to each of the Members its Percentage of such securities retained by the Company and such securities shall not be subject to any drag-along rights, tag-along rights, dilution
or restrictions on sale; provided that any such distribution may only be made in compliance with all applicable laws, rules and regulations, including securities laws, and the requirements of any sponsor, underwriter or broker in connection
with such public offering and provided further that the Members comply with all applicable laws, rules and regulations in relation to the holding of equity interests in such subsidiary and the requirements of any sponsor, underwriter or broker in
connection with such public offering. The rights appurtenant to any such securities distributed to Marathon shall be the same rights as those that are appurtenant to the securities distributed to USEY Overseas. After the expiration of any
restrictions on transferability imposed by any applicable laws, rules and regulations, including securities laws, or the requirements of any sponsor, underwriter or broker in connection with the public offering, in the event that any Member wishes
to sell its shares in such public company, the Company shall (i) cooperate with and assist such selling Member to comply with any legal or regulatory requirements in connection with such sale and (ii) make management available for calls or
meetings if reasonably requested to facilitate such sale; provided that the selling Member shall pay the costs and expenses of the Company in connection with such cooperation. 
  

 26 

 ARTICLE VII 
 BOOKS AND REPORTS 
 Section 7.1 Books and Records; Accounting. 
 The Company (a) shall keep or cause to be kept at the office of the Company (or at such other place as the Board in its discretion shall determine)
full and accurate books and records regarding the status of the business and financial condition of the Company and (b) shall provide to each Member (i) on or before the 45th day following the end of each quarter (other than the last) of
each Fiscal Year a statement of income, a balance sheet, and a statement of changes in Members’ capital for the Company for, or as at the end of, that quarter, and (ii) on or before the 120th day following the end of each Fiscal Year, a
statement of income, a balance sheet, and a statement of changes in Members’ capital for the Company for, or as at the end of, that Fiscal Year accompanied by a report by a nationally recognized independent registered public accounting firm in
accordance with generally accepted auditing standards in the United States and including an opinion from the auditor stating that the audited financial statements present fairly, in all material respects, the financial position of the Company and
the results of its operations in conformity with accounting principles generally accepted in the United States. 
 Section 7.2 Form
K-1. 
 After the end of each Fiscal Year, the Board shall cause to be prepared and transmitted to each Member, as promptly as possible,
and in any event by the end of the third month following the close of the Fiscal Year, a federal income tax Form K-1 and any required similar state and local income tax form for each Member. 
 Section 7.3 Tax Matters Partner. 
 The Members designate USEY Overseas as the Company’s “tax matters partner” under section 6231(a)(7) of the Code. If USEY Overseas ceases to be a Member, the Members shall designate a Member to be the tax matters partner. The
tax matters partner shall have all the powers and responsibilities of such position as provided in the Code. The tax matters partner is specifically directed and authorized to take whatever steps are necessary or desirable to perfect such
designation, including filing any forms or documents with the Internal Revenue Service and taking such other action as may from time to time be required under the Regulations issued under the Code. The tax matters partner shall cause to be prepared
and shall sign all tax returns of the Company, make any tax elections for the Company allowed under the Code or the tax laws of any state or other jurisdiction having taxing jurisdiction over the Company, and monitor any governmental tax authority
in any audit that such authority may conduct of the Company’s books and records or other documents. 
 ARTICLE VIII 
 WITHDRAWAL; TRANSFERS OF MEMBERSHIP INTERESTS 
 Section 8.1 No Right to Withdraw. 
 No Member may resign or withdraw from the Company. 
  

 27 

 Section 8.2 General Restriction on Transfers. 
 (a) General Rule. A Member may Transfer or Pledge all or any portion of its Membership Interest only as permitted by the Senior
Debt Documents and (with respect to the USEY Overseas Membership Interest only) the Third Lien Pledge Agreement, so long as they are in effect, and in accordance with this Section 8.2 or as provided in Sections 8.4 or 8.5. Any purported
Transfer or Pledge of all or a portion of a Membership Interest not complying with this Section 8.2 shall be void and shall not create any obligation on the part of the Company or the other Members to recognize that Transfer or Pledge or to
deal with the Person to which the Transfer or Pledge purportedly was made. The Member purporting to Transfer or Pledge all or any portion of its Membership Interest in violation of this Section 8.2(a) shall indemnify the Company and the other
Members from and against any losses, damages, costs, or expenses (including any incremental tax liabilities and attorneys’ fees) resulting from that violation or the enforcement of this indemnity. 
 (b) Permitted Transferees. Subject to compliance with the provisions of the Senior Debt Documents and (with respect to the USEY
Overseas Membership Interest only) the Third Lien Pledge Agreement, so long as they are in effect, and Section 8.2(c), a Member may Transfer all (or, if the other Members, acting reasonably and without delay, approve, any part) of its
Membership Interest to a Permitted Transferee of that Member. 
 (c) General Requirements. In addition to the
requirements of Section 8.2(b), for a Transfer or Pledge of all or any portion of a Membership Interest under any of those provisions to be effective: 
 (i) the Transfer or Pledge must comply with all applicable securities laws and, if the Board so requests, the Member making the Transfer or Pledge, or the Person to which the Transfer or Pledge is made, must deliver
to the Company an opinion of counsel (who may be an employee of the Member or one of its Affiliates) based on customary assumptions that the Transfer or Pledge complies with all applicable securities laws; 
 (ii) the Transfer or Pledge must have received all regulatory approvals (if any) required for its consummation and, if the Board so
requests, the Member making the Transfer or Pledge, or the Person to which the Transfer or Pledge, is made must deliver to the Company an opinion of counsel (who may be an employee of the Member, the Person to which the Transfer or Pledge is made,
or one of its Affiliates) based on customary assumptions that all such approvals have been received; 
 (iii) the Transfer or
Pledge may not have any material adverse tax consequences on the Company or the other Members and, if the Board so requests, the Member making the Transfer or Pledge, or the Person to which the Transfer or 
  

 28 

 Pledge is made, must deliver to the Company an opinion of counsel (who may be an employee of the Member,
the Person to which the Transfer or Pledge is made, or one of its Affiliates) based on customary assumptions that no such consequences will arise; 
 (iv) the Member making the Transfer or Pledge must notify the Company of the Transfer or Pledge and comply with the provisions of Section 3.9; and 
 (v) in the case of a Transfer to a Person that is not already a Member at the time of such Transfer, the Person to which the Transfer is
made must (x) execute and deliver to the Company an instrument in which it agrees to be bound by the provisions of this Agreement as a Member and represents and warrants that all the representations and warranties in Section 3.8 are true
and correct with respect to it and (y) notify the Company and the other Members of its address for notices under Section 10.7. 
 (d) Senior Debt Documents. Notwithstanding the foregoing provisions of this Section 8.2, Membership Interests may be Pledged and Transfers may occur on any foreclosure or Transfer in lieu of a foreclosure
as provided in the Senior Debt Documents and, with respect to the Membership Interests of USE Overseas only, the Third Lien Pledge Agreement. 
 (e) Effect of Transfer. When any Transfer of a Membership Interest in accordance with Section 8.2 is effective, (i) in the case of a transfer of all of a Member’s Membership Interest, the Member
making the Transfer shall cease to be a member of the Company, and (ii) (if not already a Member) the Person to which the Transfer is made shall be admitted to the Company as a member with the Percentage attributable to the Membership Interest
so Transferred (or with its Percentage increased by that amount if it already is a Member), subject to the other provisions of this Section 8.2. 
 Section 8.3 Intentionally Omitted. 
 Section 8.4 Drag-Along Rights. 
 Except for a Transfer upon a foreclosure or in lieu of foreclosure, if at any time USEY Overseas and/or any of its Affiliates proposes to Transfer
directly or indirectly to a Person not its Affiliate, in a bona fide arms’ length transaction, the entire Membership Interest of USEY Overseas and its Affiliates (its “Drag-Along Interest”), USEY Overseas shall have the right,
by notice on or before the 30th day before the Transfer (the “Drag-Along Notice”), which notice shall include all of the terms and conditions of such proposed sale and which shall identify the proposed purchaser(s) of the Drag-Along
Interest (the “Drag-Along Purchaser(s)”), to require each other Member to sell to the Drag-Along Purchaser(s) that Member’s entire Membership Interest; provided that the other Members shall have the right, within ten
(10) days of receipt of the Drag-Along Notice, to submit a competing offer to USEY Overseas for the Drag-Along Interest, which offer USEY Overseas may, in its sole discretion, accept or reject. If USEY Overseas so elects to require the other
Drag-Along Interests to be sold, the Company shall arrange for the Drag-Along Purchaser(s) to purchase 
  

 29 

 the Drag-Along Interests at the same time as and upon the same terms and conditions (including all direct or indirect
consideration or compensation) at which USEY Overseas and/or its Affiliates sell their Drag-Along Interest; provided, however, that any indemnification obligations of each of the participants in connection with such sale shall be borne
ratably by all participants in such sale and shall not exceed such participant’s ratable share of any loss. On receipt of a Drag-Along Notice, the other Members shall cooperate with USEY Overseas and/or its Affiliates and otherwise take, or
cause to be taken, all actions and do, or cause to be done, all things necessary or appropriate to enter into, consummate and make effective the sale and purchase of the Drag-Along Interests being so Transferred. Each Member shall bear its
proportionate share (based upon consideration received) of any costs and expenses incurred in connection with any Transfer under this Section 8.4. 
 Section 8.5 Tag-Along Rights. 
 If USEY Overseas and/or any of its Affiliates wishes to Transfer
all or any part of its Membership Interest to any Person other than an Affiliate (the “Purchaser”), then each other Member shall have the right to offer for Transfer to the Purchaser, as a condition to the Transfer by USEY Overseas
and/or any of its Affiliates, at the same time as and upon the same terms and conditions (including all direct or indirect consideration or compensation), the same proportion of its Membership Interest, as the proposed Transfer represents with
respect to the Membership Interest of USEY Overseas and/or any of its Affiliates. USEY Overseas shall notify each Member of any such proposed Transfer on or before the 30th day before the Transfer is to occur, and each other Member wishing to
participate in the Transfer (each a “Co-Selling Member”) must notify USEY Overseas of that election on or before the tenth day following the notice from USEY Overseas. USEY Overseas and/or its Affiliates and the Co-Selling Members
shall Transfer to the Purchaser all or, at the option of the Purchaser, any part of the Membership Interests proposed to be Transferred by USEY Overseas and the Co-Selling Members on terms and conditions (including all direct or indirect
consideration or compensation) not more favorable to the Purchaser than those in the offer described in the preceding sentence; provided, however, that any Transfer of less than all of the Membership Interests of USEY Overseas and/or
its Affiliates and of the Co-Selling Members to the Purchaser shall be made from USEY Overseas and/or its Affiliates and the Co-Selling Members pro rata based upon the amount offered to be sold by each. 
 ARTICLE IX 
 DISSOLUTION OF THE COMPANY

 Section 9.1 Dissolution. 
 The Company shall be dissolved and its affairs shall be wound up on the occurrence of any of the following events: 
  

	 	(a)	the approval of dissolution by the Board; or 

  

 30 

 (b) the entry of a decree of judicial dissolution under section 18-802 of the Act.

 No other event, including the retirement, insolvency, liquidation, dissolution, insanity, expulsion, bankruptcy, death, incapacity, or
adjudication of incompetence of a Member, shall cause the Company to be dissolved. 
 Section 9.2 Liquidation. 
 (a) Liquidation and Winding Up. If the Company dissolves, then the Company shall be liquidated and its affairs shall be wound up.
All proceeds from such liquidation shall be distributed in accordance with the provisions of section 18-804 of the Act, and all Membership Interests shall be cancelled. Distributions to the Members shall be made in accordance with
Section 6.4(b). 
 (b) Certificate of Cancellation. On the completion of the distribution of the Company’s
assets, the Company shall be terminated, and the Members shall cause the Company to execute and file a Certificate of Cancellation in accordance with section 18-203 of the Act. 
 ARTICLE X 
 MISCELLANEOUS 
 Section 10.1 Amendment to this Agreement. 
 Amendments to this Agreement may only be made upon a proposal by the Board followed by a written instrument executed by all of the Members. 
 Section 10.2 Successors; Counterparts. 
 Subject to Article VIII, this Agreement (a) shall be binding on the Members and their legal successors, nominees, and representatives and (b) may be executed in several counterparts with the same effect as if the parties executing
the several counterparts had all executed one counterpart. 
 Section 10.3 Governing Law; Venue. 
 (a) Governing Law. This Agreement shall be governed by and construed in accordance with the law of the State of Delaware without
giving effect to the principles of conflicts of law. In particular, this Agreement shall be construed to the maximum extent possible to comply with all the terms and conditions of the Act. 
 (b) Venue. Any action arising out of or relating to this Agreement or the transactions it contemplates may be brought, if at all,
only in courts of the State of New York, County of New York or the United States District Court for the Southern District of New York. Each Member irrevocably submits itself to the jurisdiction of each such court with respect to any such matter,
waives 
  

 31 

 any objection it may have to jurisdiction or venue or that the forum is not convenient, and waives any
right to bring any action in any other court or forum, other than to enforce judgments of those courts against assets in other jurisdictions. Each Member irrevocably consents to service of process from any such court by the mailing of copies by
registered or certified mail, postage prepaid, to its address for notices as provided in this Agreement. 
 (c) Waiver of
Jury Trial. ALL ACTIONS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS IT CONTEMPLATES SHALL BE TRIED WITHOUT A JURY, AND EACH MEMBER WAIVES ANY RIGHT IT MAY HAVE TO INSIST ON TRIAL BY A JURY. 
 Section 10.4 Severability. 
 If
it shall be determined by a court of competent jurisdiction that any provisions or wording of this Agreement shall be invalid or unenforceable under the Act or other applicable law, such invalidity or unenforceability shall not invalidate the entire
Agreement. In that case, this Agreement shall be construed so as to limit any term or provision so as to make it enforceable or valid within the requirements of applicable law, and, in the event such term or provisions cannot be so limited, this
Agreement shall be construed to omit such invalid or unenforceable terms or provisions. If it shall be determined by a court of competent jurisdiction that any provision relating to the distributions and allocations of the Company or to any expenses
payable by the Company is invalid or unenforceable, this Agreement shall be construed or interpreted so as (a) to make it enforceable or valid and (b) to make the distributions and allocations as closely equivalent to those set forth in
this Agreement as is permissible under applicable law. 
 Section 10.5 No Third Party Beneficiaries. 
 This Agreement is not intended to confer upon any Person other than a Member or, if applicable, a former Member, any rights as a third party beneficiary.

 Section 10.6 Additional Documents. 
 Each Member agrees to perform all further acts and execute, acknowledge, and deliver any documents that may be reasonably necessary to carry out the provisions of this Agreement. 
 Section 10.7 Notices. 
 All
notices, requests, and other communications to any Member, to be effective, must be in writing and delivered, in person (including by courier) or telecopy, to that Member (and any other Person designated by that Member) at its address or telecopier
number set forth in Exhibit A or in the document or instrument signed in connection with its admission as a Member, or such other address or telecopier number as that Member subsequently may specify for the purpose by notice to the other
Members and to the Company. Each such notice, request, or other communication shall be deemed received and effective as of receipt if during the Member or other recipient’s normal business hours and otherwise at its next opening of business.

  

 32 

 Section 10.8 Waiver of Partition. 
 Each Member irrevocably waives any and all rights that Member may have to maintain any action for partition of any of the Company’s property.

 Section 10.9 Confidentiality; Announcements. 
 (a) Confidentiality. Each Member shall keep confidential all information of a confidential nature obtained in connection with the
Company or under this Agreement, except that a Member shall be entitled to disclose such confidential information (i) to the extent required by law or industry regulatory body, (ii) to its lawyers, accountants, and other service providers
as reasonably necessary in the furtherance of such Member’s bona fide interests, and (iii) to potential transferees of its Membership Interests and their representatives, provided that the potential transferees enter into customary
confidentiality agreements, with the Company expressly stated to be a third party beneficiary of any such agreement. 
 (b)
Announcements. No Member may make any public announcements regarding this Agreement or the Company or its business except as required by applicable law; provided, however, each Member may consult with and obtain prior approval
of the other Members before issuing a press release or other public announcement with respect to this Agreement and may issue a press release or make a public announcement following such consultation and approval. 
 (c) Reasonableness. The Members agree that the restrictions in this Section 10.9 are reasonable. 
  

 33 

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

  

			
	US ENERGY OVERSEAS INVESTMENTS, LLC
		
	By:	 	US Energy Systems, Inc.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	MARATHON CAPITAL HOLDINGS (UK), LLC
		
	By:	 	  

	Name:	 	
	Title:AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF USE OVERSEAS

 EXHIBIT 10.6 
  

 AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY AGREEMENT 
 OF 
 US ENERGY OVERSEAS INVESTMENTS LLC 
 a Delaware limited liability company 
 Dated as of May 22, 2006 
  

  

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	SECTION 1.	 	Amendment and Restatement	  	1
			
	SECTION 2.	 	Limited Liability Company	  	1
			
	SECTION 3.	 	Name	  	2
			
	SECTION 4.	 	Definitions	  	2
			
	SECTION 5.	 	Purpose of the Company	  	7
			
	SECTION 6.	 	Powers	  	7
			
	SECTION 7.	 	Term	  	8
			
	SECTION 8.	 	Principal Place of Business	  	8
			
	SECTION 9.	 	Registered Agent; Registered Office	  	8
			
	SECTION 10.	 	Capital Contributions; Membership Units	  	9
			
	SECTION 11.	 	Distributions	  	11
			
	SECTION 12.	 	Allocation of Income and Losses	  	12
			
	SECTION 13.	 	Withholding	  	15
			
	SECTION 14.	 	Books, Records and Accounting	  	16
			
	SECTION 15.	 	Company Funds	  	16
			
	SECTION 16.	 	Board of Managers	  	16
			
	SECTION 17.	 	Meetings of Class A Members	  	17
			
	SECTION 18.	 	Representations and Warranties	  	19
			
	SECTION 19.	 	Officers	  	20
			
	SECTION 20.	 	Limitation of Liability, Indemnification and Exculpation	  	21
			
	SECTION 21.	 	New Members; Transfer and Issuance of Membership Units	  	23
			
	SECTION 22.	 	Conversion of Class B Membership Units	  	24
			
	SECTION 23.	 	Dissolution	  	26
			
	SECTION 24.	 	Winding Up and Distribution of Assets	  	27
			
	SECTION 25.	 	Conflict of Interest	  	27
			
	SECTION 26.	 	Taxation	  	28
			
	SECTION 27.	 	Miscellaneous	  	29

  

 -i- 

 AMENDED AND RESTATED 
 LIMITED LIABILITY COMPANY AGREEMENT 
 OF 
 US ENERGY OVERSEAS INVESTMENTS LLC 
 This Amended and Restated Limited Liability
Company Agreement (as amended, modified or supplemented from time to time, including the Schedules and Exhibits hereto, this “Agreement”) is made and entered into as of the 22nd day of May, 2006 by and among the Members listed on
Schedule I attached hereto. 
 W I T N E S S E T H: 
 WHEREAS, US Energy Overseas Investments LLC (the “Company”) was formed on October 28, 2005; 
 WHEREAS, US Energy Systems Inc., as the Company’s sole member, entered into that certain Limited Liability Company Agreement of the Company,
dated as of October 28, 2005 (the “Original Agreement”); and 
 WHEREAS, on the date hereof, VTEX Energy Inc. is
being admitted as a Member of the Company and the Members desire to amend and restate the Original Agreement to provide for such admission and for the terms governing the Company; 
 NOW THEREFORE, in consideration of the foregoing and for other valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto hereby agree as follows. 
 A G R E E M E N T: 
 SECTION 1. Amendment and Restatement. The Original Agreement is hereby amended and restated in its entirety by this Agreement.

 SECTION 2. Limited Liability Company. The rights and duties of the Members shall be as provided in the Act (as
herein defined), except as modified by this Agreement. To the extent any provision of this Agreement is prohibited or ineffective under the Act, this Agreement shall be considered amended to the smallest degree possible in order to make this
Agreement effective under the Act. In the event the Act is subsequently amended or interpreted in such a way as to make any provision of this Agreement that was formerly invalid valid, such provision shall be considered to be valid from the
effective date of such interpretation or amendment. 
  

 SECTION 3. Name. The name of the Company is “US Energy Overseas Investments
LLC.” The business of the Company may be conducted, upon compliance with all applicable laws, under any name designated by the Board of Managers. 
 SECTION 4. Definitions. In addition to the terms defined elsewhere in this Agreement, unless the context clearly indicates otherwise, the following terms shall have the following meanings:

 (a) “Act” means the Delaware Limited Liability Company Act, Delaware Code Title 6, Sections 18-101 et seq., as
amended from time to time. 
 (b) “Affiliate” of any particular Person means any other Person controlling, controlled by or
under common control with such particular Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the ownership of voting securities, by contract
or otherwise. 
 (c) “Agreement” has the meaning set forth in the first paragraph hereof. 
 (d) “Board of Managers” has the meaning set forth in Section 16(a) hereof. 
 (e) “Capital Account” means the account established on the books and records of the Company for each Member. Each Member’s Capital
Account shall initially equal the value of the Capital Contribution to the Company, if any, made by the Member. The Members acknowledge and agree that the initial Capital Account of each Member on the date hereof shall be as follows: $0 for VTEX;
and $350,000 for USEY. During the term of the Company, each Member’s Capital Account shall be (i) increased by the amount of (w) income and gain allocated to the Member and (x) any cash or property subsequently contributed
by the Member to the Company, and (ii) decreased by the amount of (y) loss and deduction allocated to the Member and (z) all cash and property distributed to the Member, and shall otherwise be kept in accordance with applicable
Treasury Regulations promulgated under Section 704(b) of the Code. 
 In the event that the Gross Asset Values of assets of the Company
are adjusted pursuant to clause (iii) of the definition of “Gross Asset Value,” the Capital Accounts of the Members shall be adjusted for the hypothetical “book” gain or loss that would have been realized by the Members if
the Company had sold all the assets of the Company for their Gross Asset Values in a cash sale with the net amount of any gain or loss being treated as actually recognized for purposes of this Section 4(e) and of Section 11
hereof, Schedule I shall be amended by the Managers to reflect the restated capital of the Members as a result of any such adjustment to the Gross Asset Values of the Company’s assets. 
 (f) “Capital Contribution” means the total amount of cash or other property contributed to the Company by a Member. Contributed property
shall be valued at the Gross Asset Value of such contributed property, net of any liabilities assumed to which the contributed property is subject. 
 (g) “Class A Member” means a Member who holds Class A Membership Units, as set forth on Schedule I hereto, as it may be amended, modified or supplemented from time to time in accordance with the terms of this
Agreement. 
  

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 (h) “Class A Membership Unit” means a Membership Unit having the rights, preferences and
obligations specified in this Agreement with respect to Class A Membership Units. 
 (i) “Class B Liquidation Allocation
Amount” shall mean US$20,900,000 (Twenty Million Nine Hundred Thousand 00/100 United States dollars). 
 (j) “Class B
Member” means a Member who holds Class B Membership Units, as set forth on Schedule I hereto, as it may be amended, modified or supplemented from time to time in accordance with the terms of this Agreement. 
 (k) “Class B Membership Unit” means a Membership Unit having the rights, preferences and obligations specified in this Agreement with
respect to Class B Membership Units. 
 (l) “Closing Date” means the date on which the Senior Debt Documents are executed
and the transactions contemplated thereby are completed. The Company shall give each Member at least two calendar days prior written notice of when the Closing Date will occur, provided that the making of the capital contribution required to be made
by Section 10 hereto by a Member shall be deemed to constitute a waiver of such notice requirement by such Member. 
 (m)
“Code” means the United States Internal Revenue Code of 1986, as amended, modified or rescinded from time to time, or any similar provision of succeeding law. 
 (n) “Common Stock” means common stock, $0.01 par value, of USEY. 
 (o) “Company” has the meaning set forth in the first “whereas” clause hereof. 
 (p) “Gross Asset Value” means, with respect to any asset, the asset’s adjusted basis for federal income tax purposes, except as
follows: 
 (i) The Gross Asset Value of any asset contributed by a Member to the Company is the fair market value of such
asset at the time of contribution as determined in good faith by the Managers. 
 (ii) The Gross Asset Value of any Company
asset distributed to a Member shall be adjusted to equal the fair market value of such asset on the date of distribution as determined in good faith by the Managers. 
 (iii) The Gross Asset Value of all Company assets shall be adjusted to equal their respective fair market values, as determined in good
faith by the Managers, as of the following times: (1) immediately prior to the acquisition of an additional Membership Unit in the Company by a new or existing Member in exchange for more than a de minimis Capital Contribution (including
any acquisition of a profits interest); (2) immediately prior to the distribution by the Company to a Member of more than a de minimis amount of money or other Company property as consideration for an interest in the Company; and
(3) immediately prior to the liquidation of the Company within the meaning of Treasury Regulation Section 1.704-1(b)(2)(ii)(g). 
  

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 (iv) If the Gross Asset Value of a Company asset has been determined or adjusted pursuant
to clause (i) or (iii) above, such Gross Asset Value shall thereafter be adjusted by the depreciation, amortization or cost recovery deductions, if any, taken into account with respect to such asset for purposes of computing Income and
Loss. 
 (v) The term “fair market value” shall mean the amount which, in the good faith judgment of the Managers,
would be paid for a particular asset by a willing buyer to a willing seller (neither under any compulsion to buy or sell), unreduced by any liabilities secured by the asset or assumed by any party in connection therewith. 
 (q) “Income” and “Loss” mean, for each fiscal year or other period, an amount equal to the Company’s taxable
income or loss for such year or period, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a)(1) of the Code
shall be included in taxable income or loss), with the following adjustments: 
 (i) Any income of the Company that is exempt
from federal income tax and not otherwise taken into account in computing Income or Loss pursuant to this definition shall be added to such income or loss. 
 (ii) Any expenditures of the Company described in Section 705(a)(2)(B) of the Code or treated as Section 705(a)(2)(b) of the Code expenditures pursuant to Treasury Regulation
Section 1.704-1(b)(2)(iv)(i), and not otherwise taken into account in computing Income or Loss pursuant to this definition, shall be subtracted from such taxable income or loss. 
 (iii) In lieu of depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or
loss, there shall be taken into account depreciation for such fiscal year or other period, computed in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv)(g). 
 (iv) Any items which are specially allocated pursuant to the provisions of Section 12 hereof shall not be taken into account
in computing Income or Loss. 
 (r) “IRS” means the United States Internal Revenue Service or any successor entity.

 (s) “Lien” means any security interest, pledge, hypothecation, mortgage, lien, charge, lease, license, encumbrance,
adverse claim, restrictive covenant or restriction of any kind, including any restriction on the use, voting, transfer, receipt of income or other exercise of any attributes of free and clear ownership. 
 (t) “Majority Interest” means one or more Members who in the aggregate hold more than 50% of all Class A Membership Units.

 (u) “Manager” means any individual who is elected from time to time to the Board of Managers in accordance with the terms
of this Agreement. 
  

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 (v) “Member” means any Person whose name is set forth on Schedule I attached
hereto, as amended, modified or supplemented from time to time in accordance with the terms of this Agreement. 
 (w) “Membership
Units” means the interests in the Company held by the Members, expressed as a number of Class A Membership Units and/or Class B Membership Units held by each Member and set forth opposite such Member’s name on Schedule I
attached hereto, as amended, modified or supplemented from time to time in accordance with the terms of this Agreement. 
 (x)
“Minimum Gain Chargeback” shall have the meaning ascribed thereto in Section 1.704-2(b)(2) of the Treasury Regulations, as it applies to the Company. 
 (y) “Net Cash Flow” means for any period the amount, computed on a cash basis, equal to: 
 (i) the sum of (A) gross receipts from business operations, all investment income and investment gain of the Company and all other
cash received by the Company, all without double counting, and (B) any amounts released from Reserves; 
 decreased by 
 (ii) the sum of (A) disbursements of the Company for operating expenses, contributions to
Subsidiaries of the Company, expenditures for capital investments and reinvestments, principal payments on indebtedness, interest and other expenses, including any repayment of indebtedness required or elected to be made in connection with any
refinancing, sale or other event, and (B) any increase in Reserves. 
 (z) “Nonrecourse Deductions” shall have the
meaning ascribed thereto in Section 1.704-2(b)(1) of the Treasury Regulations, as it applies to the Company. 
 (aa)
“Partnership Minimum Gain” shall have the meaning ascribed thereto in Section 1.704-2(b)(2) of the Treasury Regulations, as it applies to the Company. 
 (bb) “Person” means a natural person, partnership (whether general or limited), limited liability company, trust, estate, association,
corporation, custodian, nominee or any other individual or entity in its own or any representative capacity. 
 (cc) “Qualified
Income Offset” shall have the meaning ascribed thereto in Section 1.704-2(b)(2)(ii)(d) of the Treasury Regulations, as it applies to the Company. 
 (dd) “Registration Rights Agreement” means the Registration Rights Agreement between USEY and VTEX dated as of the date hereof. 
 (ee) “Reserves” means the reasonable reserves established and maintained from time to time in amounts reasonably determined by the Board
of Managers to be adequate and sufficient for costs, expenses and other amounts payable in the Company’s business or otherwise for the long-term goals of the Company, including reserves for unforeseen or contingent liabilities, debts or
obligations. 
  

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 (ff) “Sale” means a sale, transfer, assignment or other disposition of all or
substantially all of the assets of the Company or the liquidation, dissolution or winding up of the Company, whether voluntary or involuntary. 
 (gg) “Secretary of State” means the Secretary of State of the State of Delaware. 
 (hh) “Securities
Act” means the Securities Act of 1933, as amended, and the regulations promulgated thereunder. 
 (ii) “Senior Debt
Documents” means (i) that certain First Lien Credit Agreement to be entered into by and among GBGH, LLC (an affiliate of the Company), as borrower, the initial lenders named therein, Credit Suisse or an affiliate thereof, as first lien
administrative agent and as first lien collateral agent and Credit Suisse Securities (USA) LLC, as sole lead arranger and sole bookrunner and the Loan Documents as defined therein and (ii) that certain Second Lien Credit Agreement to be entered
into by and among GBGH, LLC, as borrower, Credit Suisse Securities (USA) LLC, as sole lead arranger and sole bookrunner and the other parties thereto and the Loan Documents as defined therein. 
 (jj) “Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association or other
business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the
time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company, partnership, association or other business entity, a
majority of the membership, partnership or other similar ownership interests thereof or the power to elect a majority of the members of the governing body thereof is at the time owned or controlled, directly or indirectly, by that Person or one or
more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such
Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or control any managing director, general partner or managing member of such limited
liability company, partnership, association or other business entity. 
 (kk) “Tax Matters Member” has the meaning set forth
in Section 26(c) hereof. 
 (ll) “Transfer” means any direct or indirect sale, transfer, assignment, gift or
other disposition of, or the creation of any Lien on, any legal or beneficial interest in the Membership Units of the Company, including as a result of a merger or consolidation involving a Member or a sale of all or substantially all of a
Member’s assets or securities. 
 (mm) “Treasury Regulations” means the income tax regulations, including any temporary
regulations, from time to time promulgated under the Code. 
  

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 (nn) “Unrecovered Capital” means, with respect to any Member, (i) the aggregate
amount of Capital Contributions made by such Member to the Company, minus (ii) the aggregate amount of prior distributions made by the Company to such Member pursuant to Section 11(a)(i)(A)(1) or Section 11(b).

 (oo) “USEY” means US Energy Systems Inc., a Delaware corporation. 
 (pp) “VIP” means Viking International Petroleum Limited, a company organized under the laws of England and Wales. 
 (qq) “VTEX” means VTEX Energy Inc., a Nevada corporation. 
 SECTION 5. Purpose of the Company. The purpose of the Company is to carry on any lawful business, purpose or activity for which limited liability companies may be formed in accordance with the
Act. 
 SECTION 6. Powers. Subject to the provisions of this Agreement, the Company shall have the power and authority
to take any and all actions necessary, appropriate, proper, advisable, convenient or incidental to or for the furtherance of the purposes set forth in Section 5, including the power: 
 (a) to conduct its business, carry on its operations and have and exercise the powers granted to a limited liability company by the Act in any state,
territory, district or possession of the United States, or in any foreign country that may be necessary, convenient or incidental to the accomplishment of the purposes of the Company; 
 (b) to acquire by purchase, lease, contribution of property or otherwise, own, hold, operate, maintain, finance, refinance, improve, lease, sell, convey,
mortgage, transfer, demolish or dispose of any real or personal property that may be necessary, convenient or incidental to the accomplishment of the purposes of the Company; 
 (c) to enter into, perform and carry out contracts of any kind, including subordination agreements and contracts with a Member or any Affiliate thereof,
or any agent of the Company necessary to, in connection with, convenient to or incidental to the accomplishment of the purposes of the Company; 
 (d) to purchase, take, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell, create a Lien on or otherwise dispose of, and otherwise use and deal in and with, shares or other interests in or obligations of
domestic or foreign corporations, associations, general or limited partnerships (including the power to be admitted as a partner thereof and to exercise the rights and perform the duties created thereby), trusts, limited liability companies
(including the power to be admitted as a member or appointed as a manager thereof and to exercise the rights and to perform the duties created thereby) or individuals or direct or indirect obligations of the United States or of any government,
state, territory, governmental district or municipality or of any instrumentality of any of them; 
 (e) to lend money, to invest and
reinvest its funds and to take and hold real and personal property for the payment of funds so loaned or invested; 
  

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 (f) to sue and be sued, complain and defend, and participate in administrative or other proceedings, in
its name; 
 (g) to appoint employees and agents of the Company and define their duties and fix their compensation; 
 (h) to indemnify any Person in accordance with the Act and to obtain any and all types of insurance; 
 (i) to dissolve, wind up and cancel its certificate of formation (the “Certificate of Formation”); 
 (j) to negotiate, enter into, renegotiate, extend, renew, terminate, modify, amend, waive, execute, acknowledge or take any other action with respect to
any lease, contract or security agreement in respect of any assets of the Company; 
 (k) to borrow money and issue evidences of indebtedness
and guaranty indebtedness (whether of the Company or any of its Subsidiaries), and to secure the same by a Lien on the assets of the Company; 
 (l) to pay, collect, compromise, litigate, arbitrate or otherwise adjust or settle any and all other claims or demands of or against the Company or to hold such proceeds against the payment of contingent liabilities; 
 (m) to establish, create or acquire Subsidiaries and to contribute properties to such Subsidiaries; and 
 (n) to make, execute, acknowledge and file any and all documents or instruments necessary, convenient or incidental to the accomplishment of the purposes
of the Company. 
 SECTION 7. Term. The term of the Company began upon the filing of the Certificate of Formation with
the office of the Secretary of State and shall continue until the Company is dissolved and wound up and its Certificate of Formation has been cancelled in accordance with this Agreement and the Act. 
 SECTION 8. Principal Place of Business. The principal place of business of the Company shall be located at such place, within or
without the State of Delaware, as the Managers may determine from time to time. The Company may have such other offices as the Managers may determine from time to time. 
 SECTION 9. Registered Agent; Registered Office. The registered office of the Company required by the Act to be maintained in the State of Delaware shall be the office of the initial registered
agent named in the Certificate of Formation or such other office (which need not be a place of business of the Company) as the Managers may designate from time to time in the manner provided by law. The registered agent of the Company in the State
of Delaware shall be the initial registered agent named in the Certificate of Formation or such other Person(s) as the Managers may designate from time to time in the manner provided by law. 
  

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 SECTION 10. Capital Contributions; Membership Units. 
 (a) Initial Capital Contributions. As of the date hereof, each Member has made the Capital Contribution, if any, set forth opposite such
Member’s name in the column captioned “Initial Capital Contribution” on Schedule I attached hereto, and has received the number and class of Membership Units, if any, set forth opposite such Member’s name in the column
captioned “Initial Membership Units” on Schedule I. 
 (b) Additional Capital Contributions; Tax Treatment of Additional
Capital Contributions. Each Member hereby agrees to make on the Closing Date the additional Capital Contribution to the Company set forth opposite such Member’s name in the column captioned “Additional Capital Contribution” on
Schedule I attached hereto. Upon the making of the additional Capital Contributions set forth on Schedule I on the Closing Date, and, in the case of VTEX only, full compliance with the obligations set forth in Section 27(r) of
this Agreement, each Member shall receive the number and class of Membership Units set forth opposite such Member’s name in the column captioned “Additional Membership Units” on Schedule I. VTEX agrees that it will take all
necessary actions to cause the outstanding US$367,500 intercompany loan from VTEX to VIP to be converted into equity of VIP prior to the Closing Date and that such additional equity of VIP will be included in the share capital of VIP required to be
contributed by VTEX to the Company on the Closing Date. In addition, VTEX agrees that it will cause the share certificates, stock powers and other instruments required to effect its additional Capital Contribution set forth on Schedule I to
be placed in escrow (together with all share certificates of Viking Petroleum UK Limited held by VIP), with an escrow agent (it being agreed that counsel to the Company may act as escrow agent) and on terms mutually agreed by VTEX and the Company no
later than two weeks following the date hereof, in order to facilitate the making of such additional Capital Contribution to the Company on the Closing Date. The Members acknowledge and agree that upon the contribution of VTEX’s additional
Capital Contribution required to be made on the Closing Date and compliance in full by VTEX with its obligations set forth in Section 27 (r) of this Agreement, the Capital Account of VTEX shall be equal to US$350,000. 
 VTEX’s additional Capital Contribution required to be made on the Closing Date shall be made pursuant to the contribution agreement in the form
attached as Exhibit A hereto, which shall be executed and delivered by the Company and VTEX effective as of the Closing Date. The Members acknowledge that VTEX is required to contribute to the capital of the Company on the Closing Date an
equity interest in VIP and that VIP will own at the time of that contribution an equity interest in Viking Petroleum UK Limited (“Viking”). The Members further acknowledge that Viking will own at the time of that contribution 100%
of Viking UK Gas Limited (“Viking Gas”) and 100% of Viking Petroleum BV (“Viking BV”). The Members intend that (i) VIP will be a disregarded entity for United States federal income tax purposes at the time VTEX
contributes to the capital of the Company the equity interest in VIP and VTEX hereby covenants and agrees that it will cause VIP to be a disregarded entity for United States federal income tax purposes prior to making its additional capital
contribution required pursuant to this Section 10(b), (ii) Viking Gas and Viking BV will be deemed to be liquidated for United States federal income tax purposes through check-the-box elections to be treated as disregarded entities that
are effective before the effectiveness of the check-the-box election referred to in the immediately succeeding clause, (iii) Viking will be deemed to be liquidated for United States 
  

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 federal income tax purposes through a check-the-box election to be treated as a disregarded entity that is effective no
later than the day following the date on which VTEX contributes to the capital of the Company the equity interest in VIP, (iv) any income or gain associated with the deemed liquidation referred to in the immediately preceding clause
(iii) will be allocated to VTEX pursuant to Section 704(c) of the Code, (v) the Company (and its members other than VTEX) will not be required to include in its income for United States federal income tax purposes any income or gain
associated with the deemed liquidations of Viking Gas and Viking BV, and (vi) the Company (and its Members other than VTEX) will not be required to include in its income for United States federal income tax purposes pursuant to Subpart F of the
Code any income of Viking, Viking Gas, or Viking BV. VTEX shall indemnify, defend, and hold the Company and USEY harmless on an after-tax basis from any loss, liability, cost and expense, including reasonable attorneys’ fees, arising out of or
related, directly or indirectly, to any income or gain required to be included in income for United States federal income tax purposes by the Company (and its Members other than VTEX) to the extent that such income and gain is attributable to any
unrealized gain with respect to VIP (and VIP’s interest in Viking and its Subsidiaries) that exists immediately prior to VTEX contributing its equity interest in VIP to the capital of the Company on the Closing Date. VTEX agrees to promptly
provide the Company with copies of all forms submitted to and received from the Internal Revenue Service in connection with causing VIP to become a disregarded entity for United States federal income tax purposes. 
 (c) Default. In the event that any Member defaults (such Member being referred to as a “Defaulting Member”) with respect to such
Member’s obligation to make an additional Capital Contribution to the Company on the Closing Date in accordance with Section 10(b) above and Schedule I, then the Company may, in the discretion of the Board of Managers, redeem
the Defaulting Member’s entire interest in the Company, including any Membership Units then held by the Defaulting Member or any right to receive Membership Units, for an amount equal to the Defaulting Member’s Capital Account. Such
redemption shall occur automatically and without any further action by the parties hereto upon the Company’s delivery of written notice of such redemption to the Defaulting Member and payment in full of the amount of the Defaulting
Member’s Capital Account, upon which the Defaulting Member shall be deemed to have withdrawn and shall no longer be a Member of the Company. The Company may also, in the discretion of the Board of Managers, institute a lawsuit against any
Defaulting Member for specific performance of its obligation to make an additional Capital Contribution to the Company, and the Defaulting Member shall bear the Company’s costs and expenses (including reasonable attorneys’ fees) incurred
in prosecuting such lawsuit. 
 (d) Additional Capital Contributions;. Except as set forth in Section 10(b) above and
Schedule I, no Member shall be obligated to make any additional Capital Contribution. Except as set forth in this Agreement, no Member shall be paid interest on any Capital Contribution. 
 (e) Withdrawal and Resignation; Return of Capital Contribution. Except in connection with a Defaulting Member pursuant to
Section 10(c), a Transfer pursuant to Section 21 or a conversion pursuant to Section 22, no Member shall be entitled to withdraw or resign as a Member of the Company. Except as provided in Section 11
and Section 24 hereof, no Member shall be entitled to receive any distribution from the Company with respect to its Capital Contributions or Capital Account. 
  

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 (f) Membership Units. Membership Units of the Company shall be either Class A Membership
Units or Class B Membership Units. Class B Membership Interests shall have no voting rights with respect to any matter upon which Members of the Company may vote pursuant to this Agreement or the Act and shall have only the right to receive
distributive shares of profits, losses, items of income, gain, loss, deduction and credit and distributions of the Company, all in accordance with the terms of this Agreement. Class A Membership Interests shall have full voting rights with
respect to any matter upon which Members of the Company may vote pursuant to this Agreement or the Act and shall have the right to receive distributive shares of profits, losses, items of income, gain, loss, deduction and credit and distributions of
the Company, all in accordance with the terms of this Agreement. 
 SECTION 11. Distributions. 
 (a) General. The Company shall distribute Net Cash Flow periodically as determined by the Board of Managers. 
 (i) Net Cash Flow distributed at any time shall be distributed: 
 (A) first, to the Members, pro rata in accordance with their Capital Contributions, if any, as set forth on Schedule I
hereto, until each Member has received cumulative distributions of Net Cash Flow equal to (1) the aggregate amount of such Member’s Capital Contributions, if any, as set forth on Schedule I hereto and (2) a preferred return on
such Capital Contributions of 12% per annum, compounded annually, from the date each such Capital Contribution was made to the Company to the date each such Capital Contribution was returned to such Member (the “Preferred
Return”); and 
 (B) second, 50% to the Class A Members (pro rata in accordance with their respective
Class A Membership Units) and 50% to the Class B Members (pro rata in accordance with their respective Class B Membership Units), until (1) the Class A Members have received aggregate cumulative distributions of Net Cash Flow equal to
$350,000 plus an additional amount equal to 12% per annum thereon, compounded annually, from the date hereof until the date such amount is distributed and (2) the Class B Members have received aggregate cumulative distributions of
Net Cash Flow equal to $350,000 plus an additional amount equal to 12% per annum thereon, compounded annually, from the date hereof until the date such amount is distributed; and 
 (C) thereafter, 90% to the Class A Members (pro rata in accordance with their respective Class A Membership Units) and
10% to the Class B Members (pro rata in accordance with their respective Class B Membership Units). 
 (ii) In the event the
Company is subject to any tax or other obligation which is attributable to the interest of one or more Members in the Company, but fewer than all the Members, such tax or other obligation shall be specially allocated to, and charged against the
Capital Account of, such Member or Members, and the amounts otherwise distributable to such Member or Members pursuant to this Agreement shall be reduced by such amount. 
  

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 (iii) Notwithstanding anything herein to the contrary, the Members understand and agree
that distributions of Net Cash Flow or other amounts to the Class B Members are predicated on the continuing existence of an aggregate of 100 Class B Membership Units outstanding and that, to the extent Class B Membership Units are converted into
Common Stock, distributions to the Class B Members made after the effective date of such conversion shall be proportionately reduced to reflect the percentage of Class B Membership Units (out of the initial 100 Class B Membership Units outstanding)
that were converted. By way of illustration, if 25 Class B Membership Units have been converted into Common Stock and a distribution of Net Cash Flow made after the effective date of such conversion would, without the application of the preceding
sentence, result in the distribution of an aggregate of $100 to the Class B Members, such distribution shall be reduced to $75 [$100-(25/100) = $75]. 
 (b) Tax Distributions. To the extent that the Company has sufficient Net Cash Flow, the Company shall use commercially reasonable efforts to make cash distributions to each Member within 90 days of the end of
each fiscal year in an aggregate amount equal to the product of (i) the total amount of taxable income allocated to such Member for such fiscal year and (ii) a tax rate reasonably selected by the Managers (“Tax
Distributions”). Any Tax Distribution will reduce the amount a Member would otherwise receive pursuant to Section 11(a). 
 SECTION 12. Allocation of Income and Losses. 
 (a) Allocations. Subject to clause (b) below, 

(i) Income shall be allocated: 
 (A) first, to each Member until such Member has been allocated Income pursuant to this Section 12(a)(i)(A) equal to the aggregate Net Cash Flow distributed to such Member pursuant to
Section 11(a)(i)(A), increased by any Loss allocated to such Member pursuant to Section 12(a)(ii)(A); 
 (B) second, to each Member until such Member has been allocated Income pursuant to this Section 12(a)(i)(B) equal to the Net Cash Flow distributed to such Member pursuant to Section 11(a)(i)(B), increased by
any Loss allocated to such Member pursuant to Section 12(a)(ii)(B); and 
 (C) thereafter, 90% to the
Class A Members (pro rata in accordance with their respective Class A Membership Units) and 10% to the Class B Members (pro rata in accordance with their respective Class B Membership Units). 
  

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 (ii) Loss shall be allocated: 
 (A) first, to each Member in an amount equal to the Income previously allocated to such Member pursuant to
Section 12(a)(i)(A), reduced by any Loss allocated pursuant to this Section 12(a)(ii)(A); 
 (B)
second, to each Member in an amount equal to the Income previously allocated to such Member pursuant to Section 12(a)(i)(B), reduced by any Loss allocated pursuant to this Section 12(a)(ii)(B); and 
 (C) thereafter, 90% to the Class A Members (pro rata in accordance with their respective Class A Membership Units) and
10% to the Class B Members (pro rata in accordance with their respective Class B Membership Units). 
 (iii) Gain on a Sale
shall be allocated: 
 (A) first, to the Members until each Member’s Capital Account is equal to such
Member’s Unrecovered Capital plus the Preferred Return thereon; 
 (B) second, 99% to the Class B Members (pro
rata in accordance with their respective Class B Membership Units) and 1% to the Class A Members (pro rata in accordance with their respective Class A Membership Units) until an aggregate amount of gain equal to the Class B Liquidation
Allocation Amount is allocated to the Class B Members; and 
 (C) thereafter, to the Class A Members (pro rata in
accordance with their respective Class A Membership Units). 
 (iv) Loss on a Sale shall be allocated: 
 (A) first, to the Members until each Member’s Capital Account is equal to such Member’s Unrecovered Capital plus the
Preferred Return thereon; and 
 (B) thereafter, 90% to the Class A Members (pro rata in accordance with their
respective Class A Membership Units) and 10% to the Class B Members (pro rata in accordance with their respective Class B Membership Units). 
 (v) Notwithstanding anything herein to the contrary, the Members understand and agree that allocations of items of Income, Loss, Gain on a Sale, Loss on a Sale or other allocations to the Class B Members are
predicated on the continuing existence of an aggregate of 100 Class B Membership Units outstanding and that, to the extent Class B Membership Units are converted into Common Stock, allocations to the Class B Members made after the effective date of
such conversion shall be proportionately reduced to reflect the percentage of Class B Membership Units (out of the initial 100 Class B Membership Units outstanding) that were converted. By way of illustration, if 25 Class B Membership Units have
been converted into Common Stock and an allocation of Gain on Sale made after the effective date of such conversion would, without the application of the preceding sentence, result in the allocation of an aggregate of $100 of Gain on Sale to the
Class B Members, such allocation shall be reduced to $75 [$100—(25/100) = $75]. 
  

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 (b) Special Allocations. Notwithstanding anything to the contrary contained herein, 
 (i) Revaluation of Property. In addition to the adjustments to the Capital Accounts set forth in the second paragraph of the
definition of “Capital Account” regarding adjustments to Gross Asset Values of assets of the Company, the Members may, in accordance with Section l.704-1(b)(2)(iv)(f) of the Treasury Regulations and upon the occurrence of any of the events
specified therein, adjust the Members’ respective Capital Accounts to reflect a revaluation of Company property. In the event of any such adjustment, the Members’ respective distributive shares of depreciation, amortization and gain or
loss with respect to such revalued property shall be determined so as to take account of the variation between the adjusted tax basis and the book value of such property in the same manner as required by Section 704(c) of the Code. 

(ii) Code Section 754 Election. To the extent an adjustment to the tax basis of Company property pursuant to
Section 734(b) or Section 743(b) of the Code is required, pursuant to Section l.704-1(b)(2)(iv)(m) of the Treasury Regulations, to be taken into account in determining Capital Accounts, the amount of such adjustment shall be treated as an
item of gain (if the adjustment increases the tax basis of the asset) or loss (if the adjustment decreases such tax basis), and such gain or loss shall be specially allocated among the Members in a manner consistent with the manner in which their
Capital Accounts are required to be adjusted pursuant to Section l.704-1(b)(2)(iv)(m) of the Treasury Regulations. 
 (iii)
Modifications. Notwithstanding anything to the contrary contained in this Section 12, Income and Loss of the Company shall at all times be allocated in a manner which is not inconsistent with the applicable provisions of the Code
and the Treasury Regulations promulgated thereunder, and the Board of Managers may modify the allocations set forth herein to comply with this requirement. 
 (iv) Qualified Income Offset. If an allocation of losses would create a Capital Account deficit (or increase a Capital Account deficit) for any Member, such Member shall be allocated profits as a Qualified
Income Offset in an amount and manner sufficient to eliminate such Capital Account deficit as quickly as possible, in a manner consistent with Section l.704-1(b)(2)(ii)(d) of the Treasury Regulations. 
 (v) Contributed Property. Gain, loss and deductions with respect to property contributed to the Company shall be allocated among
the Members’ respective Capital Accounts so as to take account of the variation between the tax basis of such property to the Company and its fair market value at the time of its contribution in accordance with Section 704(c) of the Code
and the Treasury Regulations promulgated thereunder. 
  

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 (vi) Nonrecourse Liabilities. 
 (A) Nonrecourse Deductions shall be allocated in accordance with the requirements of Section 1.704-2(e)(2) of the Treasury
Regulations. 
 (B) Any item of Company Loss or deduction that is attributable to “partner nonrecourse debt” (as
defined in Treasury Regulations Section 1.704-2(b)(4)) shall be specially allocated to the Members in the manner in which they share the economic risk of loss (as defined in Treasury Regulations Section 1.752-2) for such “partner
nonrecourse debt.” 
 (C) In the event that there is a net decrease during a fiscal year in either Company “minimum
gain” (as defined in Treasury Regulations Sections 1.704-2(b)(2) and 1.704-2(d)) or Member “nonrecourse debt minimum gain” (as defined in Treasury Regulations Section 1.704-2(i)(2)), then, notwithstanding any other provision of
this Section 12, each Member shall receive such special allocation of items of Company Income and gain as are required in order to conform to Treasury Regulations Sections 1.704-2(f) and (i). 
 (vii) Certain Prevented or Required Allocations. In the event that an allocation is or has been prevented or required pursuant to
clauses (iv) or (vi) of this Section 12(b), the Members subsequently may make special allocations of Income or Loss (or individual items thereof) to the extent that, in their judgment, such allocations would (A) be
respected under applicable federal income tax law and (B) reduce the difference between the actual Capital Account of each Member and the Capital Account such Member would have had in the absence of Sections 12(b)(iv) or (vi).

 (viii) Tax Allocations. Each item of Income, gain, Loss, deduction or credit for federal, state and local income tax
purposes shall be allocated among the Members in the same proportions as the corresponding “book” items are allocated pursuant to Sections 12(a) and (b), except as otherwise provided herein. The tax allocations made pursuant to this
Section 12(b)(viii) shall be solely for tax purposes and shall not affect any Member’s Capital Account or share of non-tax allocations or distributions under this Agreement. 
 (c) Change in Membership Units. If there is a change in the number of Membership Units held by any Member during any fiscal year, allocations of
Income and Loss among the Members shall be made pro rata in accordance with the number and class of Membership Units held by each Member from time to time during such year in accordance with Section 706 of the Code using the
closing-of-the-books method, except that depreciation, amortization and similar items shall be deemed to accrue ratably on a daily basis over the entire fiscal year if the corresponding asset is owned by the Company for the entire fiscal year, and
over the portion of a year after such asset is acquired by the Company if such asset is acquired during the fiscal year. 
 SECTION 13.
Withholding. The Company is authorized to withhold from distributions to be made to a Member, or with respect to allocations to a Member, and to pay over to a federal, foreign, state or local government, any amounts required to be
withheld pursuant to the Code or any provisions of any other federal, foreign, state or local law. Any amounts so withheld shall be treated as distributed to such Member for all purposes of this Agreement and shall be offset against the net amounts
otherwise distributable to such Member. The Company may also withhold from distributions that would otherwise be made to a Member, and 
  

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 apply to the obligations of such Member, any amounts that such Member owes to the Company. In addition, any tax imposed
upon the Company resulting from any Member’s ownership of Membership Units shall be treated as a distribution to such Member and shall reduce future distributions to such Member. 
 SECTION 14. Books, Records and Accounting. 
 (a) Books and Records. The Company shall maintain complete and accurate books and records of the Company’s business and affairs in accordance with generally accepted accounting principles, consistently
applied. The books and records shall be maintained at the principal place of business of the Company and shall be accessible to the Members in accordance with the Act. 
 (b) Fiscal Year; Accounting. The Company’s fiscal year shall begin on the first day in January each year and end on the last day of the next following December. The accounting methods and principles to be
followed by the Company shall be selected from time to time by the Board of Managers. 
 (c) Reports. The Company shall provide to the
Members and the Board of Managers (i) audited financial statements concerning the financial condition and results of operations of the Company and the changes in Members’ Capital Accounts, if any, within 90 days after the end of each
fiscal year and (ii) unaudited financial statements concerning the financial condition and results of operations of the Company and the changes in Members’ Capital Accounts, if any, within 30 days after the end of each of the first three
quarters of each fiscal year. 
 SECTION 15. Company Funds. The funds of the Company shall be deposited in such bank or
other financial institution account or accounts, or invested in such interest-bearing or non-interest-bearing investments, as shall be designated by the Board of Managers. All withdrawals from any such accounts shall be made only by individuals duly
appointed by the Board of Managers. 
 SECTION 16. Board of Managers. 
 (a) Board of Managers. The business and affairs of the Company shall be managed and controlled by and under the direction of a Board of Managers
(the “Board of Managers”), which may exercise all such powers of the Company and do all such lawful acts and things as are not by law or by this Agreement directed or required to be exercised or done by the Members. Unless
authorized by the Board of Managers, no Member and no individual Manager, in his or her capacity as such, shall have the authority to act on behalf of or bind the Company. 
 (b) Number, Qualification and Tenure. The Board of Managers shall consist of three members. The Managers shall be elected by a plurality vote of
the Class A Membership Units, and each Manager elected shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation or removal. 
  

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 (c) Initial Members of the Board of Managers. USEY, as the sole Member holding Class A
Membership Units on the date hereof, hereby elects the following persons as the initial Board of Managers, to serve until their respective successors are duly elected and qualified: 
 Asher Fogel 
 Henry Schneider 
 Adam Greene 
 (d) Resignation. A
Manager may resign at any time by giving written notice to the Members and the other Managers. 
 (e) Place of Meetings. The Board of
Managers may hold meetings, both regular and special, either within or without the State of Delaware. 
 (f) Regular Meetings. The
Board of Managers may hold a regular meeting, to be known as the annual meeting, immediately following any annual meeting of the Class A Members. Other regular meetings of the Board of Managers shall be held at such time and at such place as
shall from time to time be determined by the Board of Managers on notice of not less than three days to each Manager, either personally or by mail, fax, telephone or electronic transmission. 
 (g) Special Meetings. Special meetings of the Board of Managers may be called by any two Managers on notice of not less than three days to each
other Manager, either personally or by mail, fax, telephone or electronic transmission. 
 (h) Quorum. At all meetings of the Board of
Managers a majority of the total number of Managers shall constitute a quorum for the transaction of business and the act of a majority of the Managers present at any meeting at which there is a quorum shall be the act of the Board of Managers,
except as may be otherwise specifically provided by this Agreement or by law. If a quorum shall not be present at any meeting of the Board of Managers, the Managers present thereat may adjourn the meeting from time to time, without notice other than
announcement at the meeting, until a quorum shall be present. 
 (i) Organization. The Chief Executive Officer of the Company, if
elected, shall act as chairman at all meetings of the Board of Managers. If a Chief Executive Officer is not elected or, if elected, is not present, a Manager chosen by a majority of the Managers present at any meeting of the Board of Managers shall
act as chairman at such meeting. 
 (j) Action Without Meeting. Any action required or permitted to be taken at any meeting of the
Board of Managers may be taken without a meeting, if the number of Managers that would be necessary to authorize or take such action at a meeting at which all Managers were present and voted consent thereto in writing, and the writing or writings
are filed with the minutes of proceedings of the Board of Managers. Prompt notice of each action taken by the Managers by written consent shall be given to each Manager who did not execute such consent. 
 (k) Attendance by Telephone. Members of the Board of Managers may participate in a duly noticed meeting of the Board of Managers by means of
conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person at a meeting. 
  

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 (l) Compensation. Managers shall not receive compensation for their service on the Board of
Managers, but the Company shall reimburse the reasonable expenses, if any, of each Manager’s attendance at meetings of the Board of Managers. 
 (m) Location of Records. The Managers may keep the books of the Company, except such as are required by law to be kept within the state, outside the State of Delaware, at such place or places as they may from time to time determine.

 SECTION 17. Meetings of Class A Members. 
 (a) Time and Place of Meetings. All meetings of the Class A Members, for the election of Managers or for any other purpose, shall be held at such time and place, within or without the State of Delaware, as
shall be designated by the Board of Managers. In the absence of any such designation by the Board of Managers, each such meeting shall be held at the principal office of the Company. 
 (b) Annual Meetings. An annual meeting of the Class A Members may be held for the purpose of electing Managers and transacting such other
business as may be properly brought before the meeting. The date of the annual meeting, if any, shall be determined by the Board of Managers. 
 (c) Special Meetings. Special meetings of the Class A Members, for any purpose or purposes, unless otherwise prescribed by law, may be called at the direction of a majority of the Board of Managers or at the request in writing
of a Majority Interest. 
 (d) Notice of Meetings. Notice of each meeting of the Class A Members stating the place, date and time
of the meeting, shall be given, not less than three nor more than ten days before the date of the meeting, to each Class A Member. Notices may be given personally or by mail, fax, telephone or electronic transmission. The notice of any special
meeting shall state the purpose or purposes for which the meeting is called. 
 (e) Quorum. The Majority Interest, present in person
or represented by proxy, shall constitute a quorum for the transaction of business at all meetings of the Class A Members, except as otherwise required by law or this Agreement. If a quorum is not present or represented, the Class A
Members present in person or represented by proxy at the meeting shall have power, by the affirmative vote of the holders of a majority of the Class A Membership Units held by such Members, to adjourn the meeting to another time and/or place,
without notice other than announcement at the meeting, until a quorum shall be present or represented. At such adjourned meeting, at which a quorum shall be present or represented, any business may be transacted which might have been transacted at
the original meeting. If the adjournment is for more than 30 days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each Class A Member. 
 (f) Voting. At all meetings, each Class A Member shall be entitled to cast one vote, in person or by proxy, for each Class A Membership
Unit held by such Member on the record date for the meeting. When a quorum is present or represented at any meeting, 
  

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 the vote of the holders of a majority of the Class A Membership Units present in person or represented by proxy
shall decide any question brought before such meeting, unless the question is one upon which, by express provision of law or this Agreement, a different vote is required, in which case such express provision shall govern and control. 
 (g) Informal Action. Any action required or permitted to be taken at a meeting of the Class A Members may be taken without a meeting, without
prior notice and without a vote, if a consent in writing, setting forth the action so taken, shall be signed by a Majority Interest. Prompt notice of any action taken without a meeting shall be given to each Class A Member who did not consent
in writing to such action. 
 (h) Actions Requiring Member Approval. Notwithstanding any other provision of this Agreement, the
affirmative vote or written consent of the Majority Interest shall be required to approve the following matters: 
 (i) A
Sale; 
 (ii) The merger or consolidation of the Company; 
 (iii) The creation, grant or assumption of any Lien on all or substantially all of the assets of the Company (other than securities of the
Company’s Subsidiaries held by the Company); 
 (iv) A public offering of securities of the Company; and 
 (v) Changing the number of Managers on the Board of Managers. 
 (i) Attendance by Telephone. Class A Members may participate in a meeting by means of conference telephone or similar communications equipment
by means of which all persons participating in the meeting can hear each other, and such participation in a meeting shall constitute presence in person at a meeting. 
 (j) Class B Members. Notwithstanding anything in this Agreement to the contrary, Class B Members shall not be entitled to attend or receive notices of the meetings of Members, and, except as provided in
Section 21(a) and Section 27(h), Class B Members shall not be allowed or required to consent to, approve or vote on any matter affecting the Company or its affairs. Class B Members shall receive prompt written notice of any
action taken (whether at a meeting or by written consent) by the Class A Members. 
 SECTION 18. Representations and
Warranties. Each Member, severally and not jointly, represents and warrants to the Company that: 
 (a) Such Member is authorized and
otherwise fully qualified to purchase or receive and hold Membership Units in the Company and, with respect to Class B Membership Units, shares of Common Stock issuable upon conversion thereof (such shares of Common Stock, together with Membership
Units, are referred to collectively as “Securities”). Such Member has full right, power and authority to execute this Agreement and to perform its obligations hereunder. 
  

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 (b) This Agreement has been duly and validly executed by such Member, and constitutes a valid and binding
agreement of such Member, enforceable against such Member in accordance with its terms, subject to applicable bankruptcy, moratorium, insolvency and similar laws affecting creditors’ rights generally and to general principles of equity. The
execution and delivery of this Agreement by such Member and the performance by such Member of its obligations hereunder does not and will not violate or conflict with (i) any provision of the organizational and governing documents of such
Member, (ii) any law, statute, regulation, rule, order or decree applicable to such Member or its properties or (iii) any agreement or instrument by which such Member or its properties is bound. 
 (c) Such Member is acquiring the Securities for its own account for investment and not with a view to resale or further distribution in whole or part.
Such Member is an “accredited investor” as defined in Rule 501 promulgated under the Securities Act. 
 (d) Such Member understands
and acknowledges that the Securities have not been registered for sale under the Securities Act in reliance on the private offering exemption in Section 4(2) thereof. 
 SECTION 19. Officers. 
 (a)
Designation and Appointment. The Board of Managers may, from time to time, employ and retain persons as may be necessary or appropriate for the conduct of the Company’s business (subject to the supervision and control of the Board of
Managers), including employees, agents and other persons who may be designated as officers of the Company, with titles including but not limited to “Chief Executive Officer,” “President,” “Treasurer,” and
“Secretary,” as and to the extent authorized by the Board of Managers. Any number of offices may be held by the same person. The Board of Managers may, in its discretion, choose not to fill any office for any period as it may deem
advisable. Officers need not be residents of the State of Delaware. Any officers so designated shall have such authority and perform such duties as the Board of Managers may, from time to time, delegate to them. Each officer shall hold office until
his or her successor shall be duly designated and shall qualify or until his or her death or until he or she shall resign or shall have been removed in the manner hereinafter provided. The salaries or other compensation, if any, of the officers of
the Company shall be fixed from time to time by the Board of Managers. The initial officers of the Company shall be as follows: 
  

			
	 Name
	  	 Title

	Asher Fogel	  	Chief Executive Officer
	Henry Schneider	  	President
	Adam Greene	  	Secretary and Treasurer

  

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 (b) Chief Executive Officer. The Chief Executive Officer shall preside at meetings of the
Class A Members and at meetings of the Managers. The Chief Executive Officer shall be the chief executive officer of the Company and shall have general supervision, direction and control of the business and affairs of the Company, subject to
the control of the Board of Managers. The Chief Executive Officer may sign all certificates, contracts and other instruments of the Company which may be authorized by the Board of Managers and shall have such other functions, authority and duties as
are incident to his office or are properly prescribed by the Board of Managers. 
 (c) President. The President shall perform such
duties and have such other powers as may from time to time be prescribed by the Chief Executive Officer or the Board of Managers. 
 (d)
Secretary. The Secretary shall keep a record of all proceedings of the Class A Members and of the Board of Managers. The Secretary shall give, or cause to be given, notice, if any, of all meetings of the Class A Members and shall
perform such other duties and have such other powers as may be prescribed by the Board of Managers. 
 (e) Treasurer. The Treasurer
shall have the custody of the funds and securities of the Company and shall keep full and accurate accounts of receipts and disbursements in books belonging to the Company and shall deposit all moneys and other valuable effects in the name and to
the credit of the Company in such depositories as may be designated by the Board of Managers. The Treasurer shall disburse the funds of the Company as may be ordered by the Board of Managers, taking proper vouchers for such disbursements, and shall
render to the Chief Executive Officer and the Board of Managers, at its regular meetings or when the Board of Managers so requires, an account of all transactions as Treasurer and of the financial condition of the Company. The Treasurer shall
perform such other duties and have such other powers as may from time to time be prescribed by the Board of Managers. 
 (f) Other
Officers. The Board of Managers may appoint such other officers and agents as it shall deem necessary, and any such officer who is elected or appointed from time to time by the Board of Managers whose duties are not specified in this Agreement
shall perform such duties and have such powers as may be prescribed from time to time by the Board of Managers. 
 SECTION 20.
Limitation of Liability, Indemnification and Exculpation. 
 (a) Limitation of Liability. The debts, obligations and
liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Member or Manager shall be obligated personally for any such debt, obligation or liability of
the Company solely by reason of being a Member or Manager. 
 (b) Indemnification and Exculpation. 
 (i) No Member, Manager or officer of the Company, nor any of their respective directors, officers, stockholders, agents and employees
(collectively, the “Indemnified Persons”), shall be liable, in damages or otherwise, to the Company or any other Person, for any act or omission performed or omitted by any of them with respect to this Agreement or the
Company’s business 
  

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 and affairs, unless such act or omission constituted gross negligence, willful misconduct or the willful
and material breach of an express term of this Agreement on the part of the Indemnified Person. The provisions of this Agreement, to the extent that they expand, restrict or eliminate the duties and liabilities of any Person otherwise existing at
law or in equity, are agreed pursuant hereto to replace to that extent such duties and liabilities. 
 (ii) The Company, to
the fullest extent permitted by law, shall indemnify and hold harmless all Indemnified Persons from and against any and all losses, claims, damages, liabilities, expenses (including reasonable legal fees and expenses), judgments, fines, settlements,
claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, arising out of or in connection with, any action taken or omitted by any Indemnified Person with respect to this Agreement or the
Company’s business and affairs (“Losses”). An Indemnified Person’s expenses paid or incurred in defending against any Losses shall be reimbursed as paid or incurred; provided, however, that any such
reimbursement of expenses shall be conditioned upon the Company’s receipt of an undertaking by or on behalf of the Indemnified Person to repay promptly such reimbursed amount if it should ultimately be determined that such Indemnified Person
was not entitled to be indemnified by the Company hereunder. This Section 20(b)(ii) shall not apply with respect to any Indemnified Person for that portion of any Loss that results from the gross negligence or willful misconduct of such
Indemnified Person or the willful and material breach of an express term of this Agreement by such Indemnified Person. Any payments made to or on behalf of an Indemnified Person who is later determined not to be entitled to such payments shall be
refunded to the Company promptly following such determination. A determination as to whether any Person is entitled to be indemnified by the Company hereunder shall be made (unless determined by a court) (A) by a majority vote of disinterested
Managers, even though less than a quorum, (B) if there are no disinterested Managers, or the disinterested Managers so direct, by independent legal counsel in a written opinion to the Company or (C) by the Class A Members. 

(iii) Indemnification under this Section 20(b) shall continue as to a Person who has ceased to serve in the capacity which
initially entitled such Person to indemnity hereunder and shall inure to the benefit of the heirs, successors, assigns and administrators of any Person entitled to indemnification hereunder. In the event that the indemnification provided for in this
Section 20(b) is unavailable to a Person described herein for any reason whatsoever, the Company, in lieu of indemnifying such Person, shall contribute to the Loss incurred by such Person in such proportion as is deemed fair and
reasonable in light of all the circumstances in order to reflect (A) the relative benefits received by the Company and such Person as a result of the event(s) and/or transaction(s) giving rise to such Loss and/or (B) the relative faults of
the Company and the Person to be indemnified in connection with such event(s) and/or transaction(s). The rights granted pursuant to this Section 20(b) shall be deemed contract rights, and no amendment, modification or deletion of this
Section 20(b) shall have the effect of limiting or denying any such rights with respect to actions taken or proceedings, appeals, inquiries or investigations arising prior to any amendment, modification or deletion. Any indemnification
or right to contribution under this Section 20(b) shall be satisfied solely 
  

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 out of the assets of the Company and, to the extent the Company lacks sufficient funds or is otherwise
unable to fully indemnify or make the contribution described herein to all Persons making claims pursuant to this Section 20(b), then any indemnification and contribution payments shall be made on a pro rata basis based on the amount of
the Loss incurred by such Persons. The Members shall not be subject to personal liability by reason of these indemnification and contribution provisions. 
 (iv) The rights to indemnification and contribution and the advancement and payment of expenses conferred in this Section 20(b) shall not be exclusive of any other right that a Person entitled thereto
pursuant to this Section 20(b) may have or hereafter acquire under any law (common or statutory), contract or provision of this Agreement. 
 (v) The Company may purchase and maintain insurance, to the extent and in such amounts as the Board of Managers shall deem reasonable, on behalf of the Indemnified Persons and such other Persons as the Board of
Managers shall determine, against any liability that may be asserted against or expenses that may be incurred by such Indemnified Persons or other Persons in connection with the activities of the Company, regardless of whether the Company would have
the power to protect such Indemnified Persons or other Persons against such liability under the provisions of this Section 20(b). 
 (vi) If this Section 20(b) or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless hold harmless each Person provided for
pursuant to this Section 20(b) as to costs, charges and expenses (including reasonable attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any such proceeding, appeal, inquiry or investigation to the
fullest extent permitted by the provisions of this Section 20(b) that shall not have been invalidated and by applicable law. 
 SECTION 21. New Members; Transfer and Issuance of Membership Units. 
 (a) Issuance of Additional Membership
Units. The Company may issue additional Membership Units other than Class B Membership Units to a Person upon (i) the making of a Capital Contribution by such Person, (ii) the approval of the Board of Managers, (iii) the approval
of the Majority Interest, (iv) if the Person is not already a Member, the execution by such Person of this Agreement, and (v) the demonstration by such Person to the reasonable satisfaction of the Board of Managers that such issuance will
not require the Company to register under or otherwise be subject to the provisions of the Investment Company Act of 1940, as amended, or any other similar legislation or regulatory scheme. In addition, if required by the Board of Managers, such
Person shall deliver an opinion of counsel reasonably acceptable to the Board of Managers that such issuance (A) will not violate the Securities Act or any state blue sky laws (including any investor suitability standards) and (B) will not
result in the Company ceasing to be treated as a partnership for federal income tax purposes. Following the issuance of Class B Membership Units as contemplated by Section 10(b) and Schedule I, without the written consent of the
holders of a majority of the outstanding Class B Membership Units (which consent shall not be unreasonably withheld or delayed), the Company shall not have the authority to issue additional Membership Units that are senior to or pari passu
with the Class B Membership Units; provided, that the Company may issue additional Membership Units with voting rights. 
  

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 (b) Transfer of Membership Units. Membership Units may be Transferred, in whole or in part, only
upon (i) the approval of the Board of Managers (which approval shall not be unreasonably withheld or delayed), (ii) the approval of the Majority Interest (which approval shall not be unreasonably withheld or delayed), (iii) if the
Transferee is not already a Member, the execution by such Person of this Agreement, and (iv) the demonstration by the Transferee to the reasonable satisfaction of the Board of Managers that such Transfer will not require the Company to register
under or otherwise be subject to the provisions of the Investment Company Act of 1940, as amended, or any other similar legislation or regulatory scheme. In addition, if required by the Board of Managers, the Transferee shall deliver an opinion of
counsel reasonably acceptable to the Board of Managers that such Transfer (A) will not violate the Securities Act or any state blue sky laws (including any investor suitability standards) and (B) will not result in the Company ceasing to
be treated as a partnership for federal income tax purposes. The Company shall receive such additional documentation as it may reasonably request in connection with any such Transfer, including an assignment and assumption agreement, and the
Transferee shall bear all of the Company’s expenses and costs incurred in connection with such Transfer, including legal fees and expenses and filing fees. Any attempted Transfer in contravention of this Section 21(b) shall be null
and void and shall not be recognized by the Company or the other Members for any purpose whatsoever. 
 (c) Amendment of Schedule.
Upon any issuance of additional Membership Units or any Transfer of Membership Units in accordance with the provisions of this Section 21, the Board of Managers shall amend, modify or supplement Schedule I attached hereto as
appropriate to reflect such issuance or Transfer. 
 SECTION 22. Conversion of Class B Membership Units. 
 (a) Conversion into Common Stock. Subject to and in compliance with the provisions of this Section 22, Class B Membership Units may be
converted into fully-paid and nonassessable shares of Common Stock. The number of shares of Common Stock to which a holder of Class B Membership Units shall be entitled upon conversion shall be equal to the product obtained by (i) dividing the
Class B Liquidation Allocation Amount by the Conversion Price (as herein defined) then in effect and (ii) multiplying the amount in the preceding clause (i) by a fraction, the numerator of which is the number of Class B Membership Units
held by such Member that are being converted, and the denominator of which is 100 (representing the total number of Preferred Membership Units outstanding on the date hereof). The “Conversion Price” shall initially be $11.00, and
shall be adjusted from time to time to reflect any stock splits, reverse stock splits, subdivisions or combinations with respect to the Common Stock occurring after the date hereof. 
 (b) Optional Conversion. Class B Membership Units may, at the option of the holders of a majority of the Class B Membership Units outstanding, be
converted (in whole or in increments of no less than 25 Class B Membership Units (subject to adjustment to reflect any stock splits, reverse stock splits, subdivisions or combinations with respect to the Class B Membership Units occurring after the
date hereof)) into shares of Common Stock at any time after the earlier of: (i) the date on which the average market price of 
  

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 the Common Stock (determined by the last sale price reported by the exchange or electronic trading system on which the
Common Stock is then listed or traded or, if no sale price is reported for any day, the average of the last bid and asked prices) exceeds $11.00 per share (as adjusted from time to time to reflect any stock splits, reverse stock splits, subdivisions
or combinations with respect to the Common Stock occurring after the date hereof) for 20 consecutive trading days; and (ii) the third anniversary of the Closing Date (the earlier of such dates being referred to as the “Optional Trigger
Date”). Written notice of the election to convert shall be signed by the holders of a majority of the Class B Membership Units outstanding and delivered to USEY; provided, that such notice shall not be delivered prior to the Optional
Trigger Date. 
 (c) Automatic Conversion. All Class B Membership Units shall, at the option of USEY, be converted into shares of
Common Stock at any time after the date on which the average market price of the Common Stock (determined by the last sale price reported by the exchange or electronic trading system on which the Common Stock is then listed or traded or, if no sale
price is reported for any day, the average of the last bid and asked prices) exceeds $14.30 per share (as adjusted from time to time to reflect any stock splits, reverse stock splits, subdivisions or combinations with respect to the Common Stock
occurring after the date hereof) for 20 consecutive trading days (such date being referred to as the “Automatic Trigger Date”). Written notice of USEY’s election to convert shall be delivered to each Class B Member;
provided, that such notice shall not be delivered prior to the Automatic Trigger Date. 
 (d) Termination of Conversion Right.
If the Class B Membership Units have not been converted into shares of Common Stock in accordance with the terms of this Section 22 on or before the sixth anniversary of the Closing Date, the conversion rights granted in this
Section 22 shall expire and the Class B Membership Units shall no longer be convertible into shares of Common Stock. 
 (e)
Mechanics of Conversion. Any conversion of Class B Membership Units into shares of Common Stock shall be effective immediately prior to the close of business on the date the notice delivered pursuant to clause (b) or (c) above is
received by USEY or the Class B Members, as applicable (the “Effective Date”). The Person or Persons holding the Class B Membership Units which were converted shall, as of the Effective Date, be treated for all purposes as the
record holder or holders of the Common Stock issuable upon such conversion and USEY shall, as soon as practicable after the Effective Date, issue and deliver to such Person or Persons a certificate or certificates for the number of shares of Common
Stock to which each such Person is entitled. All Class B Membership Units which were converted shall, as of the Effective Date, be deemed to have been retired and canceled and the holder or holders thereof shall be deemed to have withdrawn as a
Member or Members of the Company with respect to such Class B Membership Units. No fractional shares of Common Stock shall be issued upon conversion of the Class B Membership Units and, in lieu thereof, USEY shall promptly pay in cash the value of
any fractional share of Common Stock otherwise issuable to any holder of Class B Membership Units (based on the last sale price of the Common Stock on the Effective Date as reported by the exchange or electronic trading system on which the Common
Stock is then listed or traded or, if no sale price is reported on the Effective Date, the average of the last bid and asked prices). The Company shall promptly deliver to each Member whose Class B Membership Units have been converted cash in an
amount equal to any distributions with respect to such Class B Membership Units which had been declared but not paid as of the Effective Date. 
  

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 (f) Registration Rights. Shares of Common Stock issued upon conversion of Class B Membership Units
shall be entitled to registration rights in accordance with that certain Registration Rights Agreement dated as of the date hereof between USEY and VTEX. 
 (g) Covenants of USEY. USEY hereby covenants and agrees as follows: (i) all shares of Common Stock issued upon conversion of Class B Membership Units will, upon issuance in accordance with the terms
hereof, be validly issued, fully paid and nonassessable; (ii) USEY shall at all times have authorized and reserved a sufficient number of shares of Common Stock to provide for conversion in full of all Class B Membership Units; and
(iii) USEY shall use its reasonable best efforts to ensure that any shares of Common Stock issued upon conversion of Class B Membership Units are qualified for listing on any exchange or electronic trading system on which the shares of Common
Stock are then listed or traded. 
 (h) No Rights as a Stockholder. No Class B Member shall have any rights as a stockholder of USEY
with respect to any shares of Common Stock issuable upon conversion of such Class B Membership Units until the date such shares of Common Stock are issued to such holder on USEY’s records in accordance with the terms hereof and applicable law.

 (i) Market Standoff. Each Member who acquires shares of Common Stock upon conversion of Class B Membership Units agrees that it
will not, without the prior written consent of the managing underwriter for any registered public offering by USEY of equity securities for its own account, during the period commencing on the date of the final prospectus relating to such public
offering and ending on the date specified by USEY and the managing underwriter (such period not to exceed one hundred twenty (120) days) (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any
option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock
(whether such shares or any such securities are then owned or are later acquired), or (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Common
Stock, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise. 
 SECTION 23. Dissolution. 
 (a)
Events of Dissolution. The Company shall be dissolved and terminated upon the happening of the first to occur of any of the following events: 
 (i) The adoption by the Board of Managers of a resolution approving the dissolution and winding up of the Company, followed by the approval of such resolution by the Majority Interest; and 
 (ii) Judicial dissolution pursuant to the Act. 
  

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 (b) Automatic Continuation. The Company shall automatically continue without any action on the
part of the Members upon the death, retirement, withdrawal, resignation, expulsion, bankruptcy (as defined in Section 18-304 of the Act) or dissolution of a Member or other event which terminates the continued membership of a Member until the
Company is otherwise dissolved and wound up pursuant to the terms of this Agreement. 
 SECTION 24. Winding Up and Distribution of
Assets. 
 (a) Winding Up. If the Company is dissolved, the Board of Managers shall wind up the affairs of the Company.

 (b) Distribution of Assets. Upon the winding up of the Company, the Board of Managers shall pay or make reasonable provision to pay
all claims and obligations of the Company, including (i) all claims of and obligations to Members in their capacities as creditors, (ii) all costs and expenses of the liquidation and (iii) all contingent, conditional, or unmatured
claims and obligations that are known to the Board of Managers, whether the identity of the claimant is known or unknown. If there are sufficient assets, such claims and obligations shall be paid in full and any such provision shall be made in full.
If there are insufficient assets, such claims and obligations shall be paid or provided for according to their priority and, among claims and obligations of equal priority, ratably to the extent of assets available therefor. The remaining proceeds,
if any, plus any remaining assets of the Company, shall be distributed to the Members in accordance with the positive balances of their respective Capital Accounts, as determined after taking into account all adjustments to Capital Accounts for the
taxable year during which the liquidation occurs. 
 For purposes of the application of this Section 24 and determining Capital
Accounts on liquidation, all unrealized gains, losses and accrued income and deductions of the Company shall be treated as realized and recognized immediately before the date of distribution, and all items of income, gain, loss and deduction with
respect to the year of liquidation shall be allocated among the Members. No Member has any obligation to restore a deficit balance in such Member’s Capital Account, if any, or on the Company’s balance sheet. 
 SECTION 25. Conflict of Interest. No Member or Manager shall be required to act hereunder as its sole and exclusive business
activity and any Member or Manager may have other business interests and engage in other activities in addition to those relating to the Company. Neither the Company nor any Member or Manager shall have any right by virtue of this Agreement in or to
any such other interests or activities or to the income or proceeds derived therefrom. A Member or Manager or its Affiliates may transact business with the Company and, subject to applicable laws, has the same rights and obligations with respect
thereto as any other Person. No transaction between a Member or a Manager or an Affiliate thereof and the Company shall be voidable solely because a Member or Manager or an Affiliate thereof has a direct or indirect interest in the transaction if
the transaction contains substantially such terms and conditions with respect to the Company as would be contained in a similar agreement entered to as a result of arm’s-length negotiation with an unaffiliated, disinterested third party or if
the Majority Interest authorizes, approves or ratifies the transaction. 
  

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 SECTION 26. Taxation. 
 (a) Tax Elections. The Board of Managers shall not, without the unanimous written consent of the Class A Members, cause the Company to make an
election to be classified as a corporation for federal or state income tax purposes. The Board of Managers shall, upon the written request of any Class A Member and is benefited thereby, cause the Company to file an election under
Section 754 of the Code and the Treasury Regulations thereunder to adjust the basis of the Company assets under Section 734(b) or 743(b) of the Code and a corresponding election under the applicable sections of state and local law. The
Board of Managers shall have the authority to make all other Company elections permitted under the Code, including elections of methods of depreciation. 
 (b) Company Tax Returns. The Board of Managers shall cause the necessary tax returns and information returns for the Company to be prepared. Each Member shall provide such information, if any, as may be needed
by the Company for purposes of preparing such tax returns and information returns. The Board of Managers shall deliver to each Member such information required by such Member to enable such Member to prepare and file its United States federal and
state income tax returns reflecting the operations of the Company. 
 (c) Tax Audits. 
 (i) USEY shall be the “tax matters partner” of the Company pursuant to Section 6231(a)(7) of the Code (the “Tax
Matters Member”). Any cost or expense incurred by the Tax Matters Member in connection with its duties, including the preparation for or pursuance of administrative or judicial proceedings, shall be paid by the Company. 
 (ii) If at any time the Tax Matters Member cannot or elects not to serve as the Tax Matters Member, is removed by the Class A Members
as the Tax Matters Member or ceases to be a Member, the Majority Interest shall select another Member to be the Tax Matters Member. The Tax Matters Member, as an authorized representative of the Company, shall direct the defense of any claims made
by the IRS to the extent that such claims relate to the adjustment of Company items at the Company level. The Tax Matters Member shall promptly deliver to each Member a copy of any notice of beginning of administrative proceedings or any report
explaining the reasons for a proposed adjustment received from the IRS relating to or potentially resulting in an adjustment of Company items. The Tax Matters Member shall, unless the Majority Interest consents to the contrary, diligently and in
good faith contest any proposed adjustment of a Company item that principally affects the Members at the administrative and judicial levels, including, if appropriate or if requested by the Majority Interest, appealing any adverse judicial decision,
and shall consider in good faith any suggestions made by any Member or its counsel regarding the conduct of such administrative or judicial proceedings. The Tax Matters Member shall keep each Member advised of all material developments with respect
to any proposed adjustment that come to its attention, including the scheduling of all conferences and substantive telephone calls with the IRS. Each Member shall be entitled, at its own expense, to attend all meetings with the IRS and to review in
advance any material written information (including any pleadings, memoranda or similar items) to be submitted to the IRS. Without first 
  

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 obtaining the consent of the Majority Interest, the Tax Matters Member shall not, with respect to any
proposed adjustment of a Company item that materially and adversely affects any Member, (A) enter into a settlement agreement that purports to bind Members other than the Tax Matters Member (including any stipulation consenting to an entry of
decision by any tax court) or (B) enter into an agreement or stipulation extending the statute of limitations. 
 (iii)
The Company shall promptly deliver to each Member a copy of all notices, communications, reports or writings of any kind with respect to income or similar taxes received from any taxing authority relating to the Company that might materially and
adversely affect each Member, and shall keep such Members advised of all material developments with respect to any proposed adjustment of Company items that come to its attention. 
 (iv) Each Member shall continue to have the rights described in this Section 26(c) with respect to tax matters relating to any
period during which it was a Member, whether or not it is a Member at the time of the tax audit or contest. 
 SECTION 27.
Miscellaneous. 
 (a) Governing Law. This Agreement and any controversies or claims hereunder shall be governed by and
construed in accordance with the laws of the State of Delaware, without regard to its conflict of law rules. 
 (b) Binding Effect.
Except as otherwise specifically provided herein, this Agreement shall be binding upon and inure to the benefit of the parties and their legal representatives, heirs, administrators, executors, successors and assigns. 
 (c) Construction. Wherever from the context it appears appropriate, each term stated in either the singular or the plural shall include the
singular and the plural, and pronouns stated in either the masculine, the feminine or the neuter gender shall include the masculine, feminine and neuter. The words “include,” “includes” and “including” when used herein
shall be deemed to be followed by the phrase “without limitation.” 
 (d) Captions. Captions or section headings contained
in this Agreement are inserted only as a matter of convenience and in no way define, limit or extend the scope or intent of this Agreement or any provision hereof. 
 (e) Enforceability. If any provision of this Agreement, or the application of the provision to any Person or circumstance, shall be held invalid or unenforceable, the remainder of this Agreement, or the
application of that provision to Persons or circumstances other than those with respect to which it is held invalid or unenforceable, shall not be affected thereby. 
 (f) Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument. 
  

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 (g) Notices. Any notices permitted or required to be given under this Agreement shall be delivered
in Person or by overnight or express courier or by registered or certified mail, postage prepaid, and shall be addressed to the Company at its principal place of business and to any Member at the address reflected on the books and records of the
Company. Whenever any notice is required to be given under law or the provisions of this Agreement, a waiver thereof in writing, signed by the Person or Persons entitled to said notice, whether before or after the time stated therein, shall be
deemed equivalent to notice. 
 (h) Entire Agreement; Amendment. This Agreement and the other documents referred to herein constitute
the entire agreement between the parties hereto with respect to the matters set forth herein and supersede all prior understandings or agreements between the parties with respect to such matters. Except as otherwise set forth herein, this Agreement
may be amended at any time and from time to time by written consent of a Majority Interest; provided, that no amendment that alters or changes the Class B Liquidation Allocation Amount, the provisions of Section 22 or any other
powers, preferences, or other special rights, privileges or restrictions of the Class B Membership Units so as to affect them adversely may be made without the written consent of the holders of a majority of the Class B Membership Units outstanding.

 (i) Further Assurances. The Members shall execute and deliver such further instruments and do such further acts and things as may
be required to carry out the intent and purposes of this Agreement. Each Member shall execute all such certificates and other documents and shall do all such filing, recording, publishing, and other acts as the Board of Managers deems appropriate to
comply with the requirements of law for the formation and operation of the Company and to comply with any laws, rules, and regulations relating to the acquisition, operation, or holding of the property of the Company. 
 (j) Third Parties. Except as provided in Section 20 hereof, nothing in this Agreement, whether express or implied, shall be construed
to give any Person other than a Member or the Company any legal or beneficial or other equitable right, remedy or claim under or in respect of this Agreement, any covenant, condition, provision or agreement contained herein or the property of
Company. 
 (k) Facsimile Signatures. The facsimile signature (or other signature by electronic transmission) of any Manager or Member
may be used at all times and for all purposes in place of an original signature. 
 (l) Reliance upon Books, Reports and Records.
Unless he or she has knowledge concerning the matter in question which makes his or her reliance unwarranted, each Manager shall, in the performance of his or her duties hereunder, be entitled to rely on information, opinions, reports or statements,
including financial statements and other financial data, if prepared or presented by one or more employees of the Company or by legal counsel, accountants or other Persons as to matters such Manager reasonably believes to be within such
Person’s professional or expert competence. 
 (m) Waiver. No failure by the Company, any Manager or Member to insist upon the
strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of any such breach or any other covenant, duty, agreement or condition.

  

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 (n) Waiver of Partition. Except as may be otherwise required by law in connection with the winding
up, liquidation and dissolution of the Company, each Member hereby irrevocably waives any and all rights that it may have to maintain an action for partition of any of the Company’s property. 
 (o) Expenses. Each Member shall pay its fees and expenses incurred in connection with the negotiation and execution of this Agreement. 

(p) Disputes. Should any dispute arising under this Agreement result in litigation, the prevailing party in such litigation shall be entitled
to recover in addition to any other damages all its costs, expenses and reasonable attorneys’ fees. 
 (q) Issuance of Warrants.
On the Closing Date, in consideration for the contributions to be made by VTEX hereunder, USEY agrees that it will issue to VTEX warrants (the “USEY Warrants”) in the forms attached as Exhibits B, C and D hereto, to acquire an
aggregate of 500,000 shares of USEY Common Stock. 
 (r) Transfer of USEY Warrants. Upon receipt by VTEX of the USEY Warrants, VTEX
shall, on the Closing Date, transfer such number of USEY Warrants to Mssrs. Grant Emms and Desmond McVeigh as are set forth on Schedule II hereto in compliance with the terms of the USEY Warrants and the Registration Rights Agreement. 
 [signature page follows] 
  

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 IN WITNESS WHEREOF, the undersigned Members have executed this Agreement as of the date first set forth
above. 
  

			
	US ENERGY SYSTEMS INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	VTEX ENERGY INC.
		
	By:	 	  

	Name:	 	
	Title:

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