Document:

Amended and Restated By-Laws

  
 EXHIBIT 4.3 

 

  
 AMENDED AND RESTATED 
  
 BY-LAWS 
  
 OF

  
 CHENIERE ENERGY, INC. 
  

  

					
	 	 	 	 	 As amended by the Board of
 Directors by
resolutions
 through January 29, 2004

  
 TABLE OF CONTENTS

  

					
	 ARTICLE I. OFFICES
	  	1
	 SECTION 1.1.
	  	 Registered Office
	  	1
	 SECTION 1.2.
	  	 Other Offices
	  	1
		
	 ARTICLE II. MEETING OF STOCKHOLDERS
	  	1
	 SECTION 2.3.
	  	 Notice of Meetings
	  	1
	 SECTION 2.4.
	  	 Waiver of Notice
	  	2
	 SECTION 2.5.
	  	 Adjournments
	  	2
	 SECTION 2.6.
	  	 Quorum
	  	3
	 SECTION 2.7.
	  	 Voting
	  	3
		
	 ARTICLE III. BOARD OF DIRECTORS
	  	3
	 SECTION 3.1.
	  	 General Powers
	  	3
	 SECTION 3.2.
	  	 Number and Term of Office
	  	3
	 SECTION 3.3.
	  	 Vacancies and Newly Created Directorships
	  	4
	 SECTION 3.4.
	  	 Resignation
	  	4
	 SECTION 3.5.
	  	 Removal
	  	4
	 SECTION 3.6.
	  	 Meetings
	  	4
	 SECTION 3.7.
	  	 Committees of the Board
	  	5
	 SECTION 3.8.
	  	 Directors’ Consent in Lieu of Meeting
	  	6
	 SECTION 3.9.
	  	 Action by Means of Telephone or Similar Communications Equipment
	  	6
	 SECTION 3.10.
	  	 Compensation
	  	6
		
	 ARTICLE IV. OFFICERS
	  	7
	 SECTION 4.1.
	  	 Officers
	  	7
	 SECTION 4.2.
	  	 Authority and Duties
	  	7
	 SECTION 4.3.
	  	 Term of Office, Resignation and Removal
	  	7
	 SECTION 4.4.
	  	 Subordinate Officers
	  	7
	 SECTION 4.5.
	  	 Vacancies
	  	7
	 SECTION 4.6.
	  	 The Chairman or Co-Chairmen
	  	7
	 SECTION 4.7.
	  	 The Vice Chairman
	  	8
	 SECTION 4.8.
	  	 The President
	  	8
	 SECTION 4.9.
	  	 Vice Presidents
	  	8
	 SECTION 4.10.
	  	 Chief Financial Officer
	  	8
	 SECTION 4.11.
	  	 The Secretary
	  	8
	 SECTION 4.12.
	  	 Assistant Secretaries
	  	8
	 SECTION 4.13.
	  	 The Treasurer
	  	9
	 SECTION 4.14.
	  	 Assistant Treasurers
	  	9
	 SECTION 4.15.
	  	 Compensation
	  	9
	 SECTION 4.16.
	  	 Interested Directors; Quorum
	  	9
		
	 ARTICLE V. SHARES AND TRANSFERS OF SHARES
	  	10
	 SECTION 5.1.
	  	 Certificates Evidencing Shares
	  	10
	 SECTION 5.2.
	  	 Stock Ledger
	  	10
	 SECTION 5.3.
	  	 Transfers of Shares
	  	10
	 SECTION 5.4.
	  	 Addresses of Stockholders
	  	10
	 SECTION 5.5.
	  	 Lost, Destroyed and Mutilated Certificates
	  	10
	 SECTION 5.6.
	  	 Regulations
	  	11
	 SECTION 5.7.
	  	 Fixing Date for Determination of Stockholders of Record
	  	11

  

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	 ARTICLE VI. SEAL
	  	11
	 SECTION 6.1.
	  	 Seal
	  	11
		
	 ARTICLE VII. FISCAL YEAR
	  	11
	 SECTION 7.1.
	  	 Fiscal Year
	  	11
		
	 ARTICLE VIII. VOTING OF SHARES IN OTHER CORPORATIONS
	  	11
	 SECTION 8.1.
	  	 Voting of Shares in Other Corporations
	  	11
		
	 ARTICLE IX. INDEMNIFICATION AND INSURANCE
	  	12
	 SECTION 9.1.
	  	 Indemnification
	  	12
	 SECTION 9.2.
	  	 Insurance for Indemnification
	  	14
		
	 ARTICLE X. AMENDMENTS
	  	14
	 SECTION 10.1.
	  	 Amendments
	  	14

  

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 AMENDED AND RESTATED

  
 BY LAWS 
  
 OF 
  
 CHENIERE ENERGY, INC. 
  
 ARTICLE I. 
  
 OFFICES 
  
 SECTION 1.1. Registered Office. Unless and until otherwise determined by the Board of Directors of Cheniere Energy, Inc. (the “Corporation”), the registered office of the Corporation in the State of Delaware shall be at the office
of Corporation Service Company, 1013 Centre Road, City of Wilmington 19805, County of New Castle and the registered agent in charge thereof shall be Corporation Service Company. 
  
 SECTION 1.2. Other Offices. The Corporation may also have an office or offices at any other place or places within or
without the State of Delaware as the Board of Directors of the Corporation (the “Board”) may from time to time determine or the business of the Corporation may from time to time require. 
  
 ARTICLE II. 
  
 MEETING OF STOCKHOLDERS 
  
 SECTION 2.1. Annual Meetings. The annual meeting of stockholders of the
Corporation for the election of directors of the Corporation (“Directors”) and for the transaction of such other business as may properly come before such meeting, shall be held at such place, date and time as shall be fixed by the Board
and designated in the notice or waiver of notice of such annual meeting. 
  
 SECTION 2.2. Special Meetings. Special meetings of stockholders for any purpose or purposes may be called by the Board or the Chairman of the Board, Chief Executive Officer or the President or the Secretary of the
Corporation at the request in writing of a majority of the Board to be held at such place, date and time as shall be designated in the notice or waiver of notice thereof. Special meetings of stockholders cannot be called by the stockholders of the
Corporation. 
  
 SECTION 2.3. Notice of Meetings. Except as
otherwise provided by law, written notice of each annual or special meeting of stockholders stating the place, date and time of such meeting and, in the case of a special meeting, the purpose or purposes for which such meeting is to be held, shall
be given personally or by first class mail (airmail in the case of international communications) to each recordholder of Shares (a “Stockholder”) entitled to vote 

  

 
thereat, not less than 10 nor more than 60 days before the date of such meeting. If mailed, such notice shall be deemed to be given when deposited in the
United States mail, postage prepaid, directed to the Stockholder at such Stockholder’s address as it appears on the records of the Corporation. If, prior to the time of transmittal of notice, the Secretary of the Corporation (the
“Secretary”) shall have received from any Stockholder a written request that notices intended for such Stockholder are to be transmitted to some address other than the address that appears on the records of the Corporation, notices
intended for such Stockholder shall be transmitted to the address designated in such request. 
  
 (a) Notice of a special meeting of Stockholders may be given by the person or persons calling the meeting, or, upon the written request of
such person or persons, such notice shall be given by the Secretary on behalf of such person or persons. If the person or persons calling a special meeting of Stockholders give notice thereof, such person or persons shall deliver a copy of such
notice to the Secretary. Each request to the Secretary for the giving of notice of a special meeting of Stockholders shall state the purpose or purposes of such meeting. 
  
 (b) Whenever notice is required to be given under any statute or the Amended and Restated Certificate of
Incorporation of the Corporation (the “Certificate of Incorporation”) or these Bylaws to any Stockholder to whom (1) notice of two consecutive annual meetings, and all notice of meetings or of the taking of action by written consent
without a meeting to such person during the period between such two consecutive annual meetings or (2) all, and at least two, payments (if sent by first class mail) of dividends or interest on securities during a twelve month period, have been
mailed addressed to such person at his address as shown on the records of the Corporation and have been returned because undeliverable, the giving of notice to such person shall not be required. Any action or meeting which shall be taken or held
without notice to such person shall have the same force and effect as if such notice had been duly given. If any such person shall deliver to the Corporation a written notice setting forth his then current address, the requirement that notice to
such person shall have the same force and effect as if such notice be given to such person shall be reinstated. In the event that the action taken by the Corporation is such as to require the filing of a certificate under any of the other sections
of the General Corporation Law of the State of Delaware (the “General Corporation Law”), the certificate need not state that notice was not given to persons to whom notice was not required to be given pursuant to this Section 2.3(b).

  
 SECTION 2.4. Waiver of Notice. Notice of any annual or special
meeting of Stockholders need not be given to any Stockholder who files a written waiver of notice with the Secretary, signed by the person entitled to notice, whether before or after such meeting. Neither the business to be transacted at, nor the
purpose of, any meeting of Stockholders need be specified in any written waiver of notice thereof. Attendance of a Stockholder at a meeting, in person or by proxy, shall constitute a waiver of notice of such meeting, except when such Stockholder
attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business on the grounds that the notice of such meeting was inadequate or improperly given. 
  
 SECTION 2.5. Adjournments. Any Stockholders’ meeting, annual or special,
whether or not a quorum (as defined in Section 2.6 hereinafter) is present, may be adjourned by 

  

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vote of a majority of the shares present, either in person or by proxy. Whenever a meeting of Stockholders, annual or special, is adjourned to another date,
time or place, notice need not be given of the adjourned meeting if the date, time and place thereof are announced at the meeting at which the adjournment is taken. 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 Stockholder entitled to vote thereat. At the adjourned meeting, any business may be transacted which might have been transacted at the original
meeting. 
  
 SECTION 2.6. Quorum. Except as otherwise provided by
law or the Certificate of Incorporation, the recordholders of a majority of the Shares entitled to vote thereat, present in person or by proxy, shall constitute a quorum for the transaction of business at all meetings of Stockholders, whether annual
or special. If, however, such quorum shall not be present in person or by proxy at any meeting of Stockholders, the meeting may be adjourned from time to time in accordance with Section 2.5 hereof until a quorum shall be present in person or by
proxy. On all questions, the Stockholders present at a duly called or held meeting at which a quorum is present may continue to do business until adjournment, notwithstanding the withdrawal of enough Stockholders to leave less than a quorum, if any
action taken (other than adjournment) is approved by a number of shares which would otherwise constitute a majority of a quorum. 
  
 SECTION 2.7. Voting. Each Stockholder shall be entitled to one vote for each Share held of record by such Stockholder. Except as otherwise provided by law
or the Certificate of Incorporation, when a quorum is present at any meeting of Stockholders, the vote of the recordholders of a majority of the Shares constituting such quorum shall decide any question brought before such meeting. 
  
 SECTION 2.8. Proxies. Each Stockholder entitled to vote at a meeting of
Stockholders may authorize another person or persons to act for such Stockholder by proxy. Such proxy shall be filed with the Secretary before such meeting of Stockholders at such time as the Board may require. No proxy shall be voted or acted upon
more than three years from its date, unless the proxy provides for a longer period. 
  
 ARTICLE III. 
  
 BOARD OF
DIRECTORS 
  
 SECTION 3.1. General Powers. Except as may
otherwise be provided by law or in the Certificate of Incorporation, the business and affairs of the Corporation shall be managed by the Board, which may exercise all such powers of the Corporation and do all such lawful acts and things as are not
by law, the Certificate of Incorporation or these Bylaws directed or required to be exercised or done by Stockholders. 
  
 SECTION 3.2. Number and Term of Office. The number of Directors shall be seven or such other number as shall be fixed from time to time by the Board.
Directors need not be Stockholders. Directors shall be elected at the annual meeting of Stockholders. If the Certificate of Incorporation so provides, the Directors of the Corporation shall be divided into classes (“Term of Office
Classes”) based upon the expiration of their terms of office. 

  

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Notwithstanding anything to the contrary contained in this Article III, the manner of election, terms of office and other provisions relating to Directors
serving in any Term of Office Classes shall be as provided in the Certificate of Incorporation. 
  
 SECTION 3.3 Vacancies and Newly Created Directorships. If there occurs any vacancy in the office of a Director due to the death, resignation, retirement,
disqualification or removal from office by the Board or other cause (except for removal from office with cause by the Stockholders), such vacancy shall be filled exclusively by vote of the majority of the Directors (or the sole remaining Director)
then in office, even if less than a quorum, regardless of any quorum requirements set out in these Bylaws. If there occurs any vacancy in the office of a Director due to removal from office with cause by the Stockholders, such vacancy shall be
filled by vote of a majority of the Stockholders at a meeting called for that purpose or, if not filled by the Stockholders, by vote of a majority of the remaining Board of Directors (or the sole remaining Director) then in office, even if less than
a quorum, regardless of any quorum requirements set out in these Bylaws. 
  
 All newly-created directorships resulting from an increase in the authorized number of Directors shall be filled exclusively by the vote of the majority of the Directors (or the sole remaining Director) then in
office, even if less than a quorum, regardless of any quorum requirements set out in these Bylaws. 
  
 Any vacancies or newly-created directorships filled in accordance with this Section 3.3 at a time when the Certificate of Incorporation provides for Term
of Office Classes shall be allocated among the Term of Office Classes pursuant to Article the Fourth of the Certificate of Incorporation. 
  
 No decrease in the number of authorized Directors constituting the entire Board shall shorten the term of any incumbent Director. 
  
 SECTION 3.4. Resignation. Any Director may resign at any time by giving
written notice to the Board, the Chairman of the Board of the Corporation (the “Chairman”) or the Secretary. Such resignation shall take effect at the time specified in such notice or, if the time be not specified, upon receipt thereof by
the Board, the Chairman or the Secretary, as the case may be. Unless otherwise specified therein, acceptance of such resignation shall not be necessary to make it effective. 
  
 SECTION 3.5. Removal. Any or all of the Directors may be removed with cause, at any time by vote of the recordholders of a
majority of the Shares then entitled to vote at an election of Directors. 
  
 SECTION 3.6. Meetings. 
  
 (a) Annual Meetings. As soon as practicable after each annual election of Directors by the Stockholders, the Board shall meet for the purpose of organization and the transaction of other business, unless it shall have transacted all such
business by written consent pursuant to Section 3.9 hereof. 
  

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 (b) Other Meetings. Other meetings of the Board shall be held at such times as the
Chairman, the Vice Chairman, the President of the Corporation (the “President”), the Secretary or a majority of the Board shall from time to time determine. 
  
 (c) Notice of Meetings. The Secretary shall give written notice to each Director of each meeting of the
Board, which notice shall state the place, date, time and purpose of such meeting. Notice of each such meeting shall be given to each Director, if by mail, addressed to him at his residence or usual place of business, at least five days before the
day on which such meeting is to be held, or shall be sent to him at such place by telecopy, telegraph, cable, or other form of recorded communication, or be delivered personally or by telephone not later than the day before the day on which such
meeting is to be held. A written waiver of notice, signed by the Director entitled to notice, whether before or after the time of the meeting referred to in such waiver, shall be deemed equivalent to notice. Neither the business to be transacted at,
nor the purpose of any meeting of the Board need be specified in any written waiver of notice thereof. Attendance of a Director at a meeting of the Board shall constitute a waiver of notice of such meeting, except as provided by law. 
  
 (d) Place of Meetings. The Board may hold its meetings at
such place or places within or without the State of Delaware as the Board or the Chairman may from time to time determine, or as shall be designated in the respective notices or waivers of notice of such meetings. 
  
 (e) Quorum and Manner of Acting. A majority of the total
number of Directors then in office shall be present in person at any meeting of the Board in order to constitute a quorum for the transaction of business at such meeting, and the vote of a majority of those Directors present at any such meeting at
which a quorum is present shall be necessary for the passage of any resolution or act of the Board, except as otherwise expressly required by law, the Certificate of Incorporation or these Bylaws. In the absence of a quorum for any such meeting, a
majority of the Directors present thereat may adjourn such meeting from time to time until a quorum shall be present. 
  
 (f) Organization. At each meeting of the Board, one of the following shall act as chairman of the meeting and preside, in the following
order of precedence: 
  
 (i) the Chairman, if
any; 
  
 (ii) the Vice Chairman, if any,

  
 (iii) the President; 
  
 (iv) any Director chosen by a majority of the Directors
present. 
  
 The Secretary or, in the case of his absence, any person (who shall
be an Assistant Secretary, if an Assistant Secretary is present) whom the chairman of the meeting shall appoint shall act as secretary of such meeting and keep the minutes thereof. 
  
 SECTION 3.7. Committees of the Board. The Board may, by resolution passed by a majority of the whole Board, designate one or
more committees, each committee to consist 

  

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of one or more Directors. The Board may designate one or more Directors as alternate members of any committee, who may replace any absent or disqualified
member at any meeting of such committee. In the absence or disqualification of a member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not he or they constitute a quorum, may
unanimously appoint another Director to act at the meeting in the place of any such absent or disqualified member. Any committee of the Board, to the extent provided in the resolution of the Board designating such committee, shall have and may
exercise all the powers and authority of the Board in the management of the business and affairs of the Corporation, and may authorize the seal of the Corporation to be affixed to all papers which may require it; provided, however, that no such
committee shall have such power of authority in reference to amending the Certificate of Incorporation (except that such a committee may, to the extent authorized in the resolution or resolutions providing for the issuance of shares of stock adopted
by the Board as provided in Section 151 (a) of the General Corporation Law, fix the designations and any of the preferences or rights of such shares relating to dividends, redemption, dissolution, any distribution of assets of the Corporation or the
conversion into, or the exchange of such shares for, shares of any other class or classes of stock of the Corporation or fix the number of shares of any series of stock or authorize the increase or decrease of the shares of any series), adopting an
agreement of merger or consolidation under Section 251 or 252 of the General Corporation Law, recommending to the Stockholders the sale, lease or exchange of all or substantially all the Corporation’s property and assets, recommending to the
Stockholders a dissolution of the Corporation or the revocation of a dissolution, or amending these Bylaws; provided further, however, that, unless expressly so provided in the resolution of the Board designating such committee, no such committee
shall have the power or authority to declare a dividend, to authorize the issuance of stock, or to adopt a certificate of ownership and merger pursuant to Section 253 of the General Corporation Law. Each committee of the Board shall keep regular
minutes of its proceedings and report the same to the Board when so requested by the Board. 
  
 SECTION 3.8. Directors’ Consent in Lieu of Meeting. Any action required or permitted to be taken at any meeting of the Board or of any committee thereof 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 all the members of the Board or such committee and such consent is filed with the minutes of the proceedings of the Board or such committee. 

 
 SECTION 3.9. Action by Means of Telephone or Similar Communications
Equipment. Any one or more members of the Board, or of any committee thereof, may participate in a meeting of the Board or such committee by means of conference telephone or similar communications equipment by means of which all persons
participating in the meeting can hear each other, and participation in a meeting by such means shall constitute presence in person at such meeting. 
  
 SECTION 3.10. Compensation. Directors shall not receive any stated salary for their services as Directors or as members of committees, except as fixed or
determined by resolution of the Board. No such compensation or reimbursement shall preclude any Director from serving the Corporation in any other capacity and receiving compensation therefor. 
  

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 ARTICLE IV. 
  
 OFFICERS 
  
 SECTION 4.1. Officers. The officers of the Corporation shall be the President, the Secretary and a Treasurer and may include a Chairman or two
Co-Chairmen, a Vice Chairman, one or more Vice Presidents (including, one or more Executive and/or Senior Vice Presidents), a Chief Financial Officer, one or more Assistant Secretaries, one or more Assistant Treasurers and such other officers as the
Board may determine. Any two or more offices may be held by the same person. 
  
 SECTION 4.2. Authority and Duties. All officers shall have such authority and perform such duties in the management of the Corporation as may be provided in these Bylaws or, to the extent not so provided, by
resolution of the Board. 
  
 SECTION 4.3. Term of Office,
Resignation and Removal. 
  
 (a) Each officer,
except such officers as may be appointed in accordance with the provision of Section 4.4 or Section 4.5, shall be appointed by the Board and shall hold office for such term as may be determined by the Board. Each officer shall hold office until his
successor has been appointed and qualified or his earlier death or resignation or removal in the manner hereinafter provided. The Board may require any officer to give security for the faithful performance of his duties. 
  
 (b) Any officer may resign at any time by giving written
notice to the Board, the Chairman, the President or the Secretary. Such resignation shall take effect at the time specified in such notice or, if the time be not specified, upon receipt thereof by the Board, the Chairman, the President or the
Secretary, as the case may be. Unless otherwise specified therein, acceptance of such resignation shall not be necessary to make it effective. 
  
 (c) All officers and agents appointed by the Board shall be subject to removal, with or without cause, at any time by the Board or by any
officer upon whom such power of removal may be conferred by the Board. 
  
 SECTION 4.4. Subordinate Officers. The Board may empower the President to appoint such other officers as the business of the Corporation may require, each of whom shall hold the office for such period, have such authority and perform such
duties as are provided in these Bylaws or as the Board or President may from time to time determine. 
  
 SECTION 4.5. Vacancies. Any vacancy occurring in any office of the Corporation, for any reason, shall be filled by action of the Board. Unless earlier
removed pursuant to Section 4.3 hereof, any officer appointed by the Board to fill any such vacancy shall serve only until such time as the unexpired term of his predecessor expires unless reappointed by the Board. 
  
 SECTION 4.6. The Chairman or Co-Chairmen. The Chairman, if one shall be
appointed, or Co Chairmen, if they shall be appointed, shall have the power to call special meetings of Stockholders, to call special meetings of the Board and, if present, to preside at all 

  

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meetings of Stockholders and all meetings of the Board. The Chairman or Co-Chairmen shall perform all duties incident to the office of Chairman of the Board
and all such other duties as may from time to time be assigned to him or them by the Board or these Bylaws. 
  
 SECTION 4.7. The Vice Chairman. The Vice Chairman, if one shall be appointed, shall perform such duties as may from time to time be assigned to him by the
Board or the Chairman, and in the absence or disability of the Chairman, shall perform the duties and exercise the powers of the Chairman. 
  
 SECTION 4.8. The President. The President shall have general and active management and control of the business and affairs of the Corporation, subject to
the control of the Board, and shall see that all orders and resolutions of the Board are carried into effect. The President shall perform all duties incident to the office of President and all such other duties as may from time to time be assigned
to him by the Board or these Bylaws. 
  
 SECTION 4.9. Vice
Presidents. Vice Presidents, if any, in order of their seniority or in any other order determined by the Board, shall generally assist the President and perform such other duties as the Board or the President shall prescribe, and in the absence or
disability of the President, shall perform the duties and exercise the powers of the President. 
  
 SECTION 4.10. Chief Financial Officer. The Chief Financial Officer shall perform such duties as are customary for a chief financial officer to perform and
such other duties as the Board or the President shall prescribe. 
  
 SECTION 4.11. The Secretary. The Secretary shall, to the extent practicable, attend all meetings of the Board and all meetings of Stockholders and shall record all votes and the minutes of all proceedings in a book to be kept for that
purpose, and shall perform the same duties for any committee of the Board when so requested by such committee. He shall give or cause to be given notice of all meetings of Stockholders and of the Board, shall perform such other duties as may be
prescribed by the Board, the Chairman or the President and shall act under the supervision of the President. He shall keep in safe custody the seal of the Corporation and affix the same to any instrument that requires that the seal be affixed to it
and which shall have been duly authorized for signature in the name of the Corporation and, when so affixed, the seal shall be attested by his signature or by the signature of the Treasurer of the Corporation (the “Treasurer”) or an
Assistant Secretary or Assistant Treasurer of the Corporation. He shall keep in safe custody the certificate books and stockholder records and such other books and records of the Corporation as the Board, the Chairman or the President may direct and
shall perform all other duties incident to the office of Secretary and such other duties as from time to time may be assigned to him by the Board, the Chairman or the President. 
  
 SECTION 4.12. Assistant Secretaries. Assistant Secretaries of the Corporation (“Assistant Secretaries”), if any,
in order of their seniority or in any other order determined by the Board, shall generally assist the Secretary and perform such other duties as the Board or the Secretary shall prescribe, and, in the absence or disability of the Secretary, shall
perform the duties and exercise the powers of the Secretary. 
  

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 SECTION 4.13. The Treasurer. The Treasurer shall have the care and custody of all the funds of the
Corporation and shall deposit such funds in such banks or other depositories as the Board, or any officer or officers, or any officer and agent jointly, duly authorized by the Board, shall, from time to time, direct or approve. He shall disburse the
funds of the Corporation under the direction of the Board and the President. He shall keep a full and accurate account of all moneys received and paid on account of the Corporation and shall render a statement of his accounts whenever the Board, the
Chairman or the President shall so request. He shall perform all other necessary actions and duties in connection with the administration of the financial affairs of the Corporation and shall generally perform all of the duties usually appertaining
to the office of treasurer of a corporation. When required by the Board, he shall give bonds for the faithful discharge of his duties in such sums and with such sureties as the Board shall approve. 
  
 SECTION 4.14. Assistant Treasurers. Assistant Treasurers of the Corporation
(“Assistant Treasurers”), if any, in order of their seniority or in any other order determined by the Board, shall generally assist the Treasurer and perform such other duties as the Board or the Treasurer shall prescribe, and, in the
absence or disability of the Treasurer, shall perform the duties and exercise the powers of the Treasurer. 
  
 SECTION 4.15. Compensation. The compensation of the officers of the Corporation shall be fixed by the Board. 
  
 SECTION 4.16. Interested Directors; Quorum. 
  
 (a) No contract or transaction between the Corporation and
one or more of its Directors or officers, or between the Corporation and any other corporation, partnership, association, or other organization in which one or more of its Directors or officers are Directors or officers, or have a financial
interest, shall be void or voidable solely for this reason, or solely because the director or officer is present at or participates in the meeting of the Board or Committee thereof which authorizes the contract or transaction, or solely because the
votes of one or more of such directors or officers are counted for such purpose, if: 
  
 (1) The material facts as to that person’s relationship or interest and as to the contract or transaction are disclosed or are known
to the Board or the Committee, and the Board or Committee in good faith authorizes the contract or transaction by the affirmative votes of a majority of the disinterested Directors, even though the disinterested Directors be less than a quorum; or

  
 (2) The material facts as to that
person’s relationship or interest and as to the contract or transaction are disclosed or are known to the Stockholders entitled to vote thereon, and the contract or transaction is specifically approved in good faith by vote of the shareholders;
or 
  
 (3) The contract or transaction is fair as
to the Corporation as of the time it is authorized, approved or ratified, by the Board, a Committee thereof, or the shareholders. 
  

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 (b) Common or interested Directors may be counted in determining the presence of a quorum
at a meeting of the Board or of a Committee which authorizes the contract or transaction. 
  
 ARTICLE V. 
  
 SHARES AND
TRANSFERS OF SHARES 
  
 SECTION 5.1. Certificates Evidencing
Shares. Shares shall be evidenced by certificates in such form or forms as shall be approved by the Board. Certificates shall be issued in consecutive order and shall be numbered in the order of their issue, and shall be signed by the Chairman, the
President or any Vice President and by the Secretary, any Assistant Secretary, the Treasurer or any Assistant Treasurer. Any or all of the signatures on a Certificate may be a facsimile. In the event any such officer who has signed or whose
facsimile signature has been placed upon a certificate shall have ceased to hold such office or to be employed by the Corporation before such certificate is issued, such certificate may be issued by the Corporation with the same effect as if such
officer had held such office on the date of issue. 
  
 SECTION
5.2. Stock Ledger. A stock ledger in one or more counterparts shall be kept by the Secretary, in which shall be recorded the name and address of each person, firm or corporation owning the Shares evidenced by each certificate evidencing Shares
issued by the Corporation, the number of Shares evidenced by each such certificate, the date of issuance thereof and, in the case of cancellation, the date of cancellation. Except as otherwise expressly required by law, the person in whose name
Shares stand on the stock ledger of the Corporation shall be deemed the owner and recordholder thereof for all purposes. 
  
 SECTION 5.3. Transfers of Shares. Registration of transfers of Shares shall be made only in the stock ledger of the Corporation upon request of the
registered holder of such shares, or of his attorney thereunto authorized by power of attorney duly executed and filed with the Secretary, and upon the surrender of the certificate or certificates evidencing such Shares properly endorsed or
accompanied by a stock power duly executed, together with such proof of the authenticity of signatures as the Corporation may reasonably require. 
  
 SECTION 5.4. Addresses of Stockholders. Each Stockholder shall designate to the Secretary an address at which notices of meetings and all other corporate
notices may be served or mailed to such Stockholder, and, if any Stockholder shall fail to so designate such an address, corporate notices may be served upon such Stockholder by mail directed to the mailing address, if any, as the same appears in
the stock ledger of the Corporation or at the last known mailing address of such Stockholder. 
  
 SECTION 5.5. Lost, Destroyed and Mutilated Certificates. Each recordholder of Shares shall promptly notify the Corporation of any loss, destruction or mutilation of any certificate or certificates evidencing any Share
or Shares of which he is the recordholder. The Board may, in its discretion, cause the Corporation to issue a new certificate in place of any certificate theretofore issued by it and alleged to have been mutilated, lost, stolen or destroyed, upon
the surrender of the mutilated certificate or, in the case of loss, theft or destruction of the certificate, upon satisfactory proof of such loss, theft or destruction, and the Board may, in its 

  

 -10- 

 
discretion, require the recordholder of the Shares evidenced by the lost, stolen or destroyed certificate or his legal representative to give the Corporation
a bond sufficient to indemnify the Corporation against any claim made against it on account of the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate. 
  
 SECTION 5.6. Regulations. The Board may make such other rules and regulations
as it may deem expedient, not inconsistent with these Bylaws, concerning the issue, transfer and registration of certificates evidencing Shares. 
  
 SECTION 5.7. Fixing Date for Determination of Stockholders of Record. In order that the Corporation may determine the Stockholders entitled to notice of
or to vote at any meeting of Stockholders or any adjustment thereof, or to express consent to, or to dissent from, corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment of
any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock, or for the purpose of any other lawful action, the Board may fix, in advance, a record date, which shall not be more than 60 nor less than 10
days before the date of such meeting, nor more than 60 days prior to any other such action. A determination of the Stockholders entitled to notice of or to vote at a meeting of Stockholders shall apply to any adjournment of such meeting; provided,
however, that the Board may fix a new record date for the adjourned meeting. 
  
 ARTICLE VI. 
  
 SEAL

  
 SECTION 6.1. Seal. The Board may approve and adopt a
corporate seal, which shall be in the form of a circle and shall bear the full name of the Corporation, the year of its incorporation and the words “Corporate Seal Delaware”. 
  
 ARTICLE VII. 
  
 FISCAL YEAR 
  
 SECTION 7.1. Fiscal Year. The fiscal year of the Corporation shall end on the thirty first day of December of each year unless changed by resolution of
the Board. 
  
 ARTICLE VIII. 
  
 VOTING OF SHARES IN OTHER CORPORATIONS 
  
 SECTION 8.1. Voting of Shares in Other Corporations. Shares in other
corporations which are held by the Corporation may be represented and voted by the Chairman, President or a Vice President of the Corporation or by proxy or proxies appointed by one of them. The Board may however, appoint some other person to vote
the shares. 
  

 -11- 

 ARTICLE IX. 
  
 INDEMNIFICATION AND INSURANCE 
  

SECTION 9.1. Indemnification. The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the Corporation) by reason of the fact that he is or was a Director, officer, employee or agent of
the Corporation, or is or was serving at the request of the Corporation as a Director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if he acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best
interests of the Corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon
a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Corporation, and,
with respect to any criminal action or proceeding, had reasonable cause to believe that his conduct was unlawful. 
  
 (b) The Corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or
completed action or suit by or in the right of the Corporation to procure a judgment in its favor by reason of the fact that he is or was a Director, officer, employee or agent of the Corporation, or is or was serving at the request of the
Corporation as a Director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys’ fees) actually and reasonably incurred by him in connection with the
defense or settlement of such action or suit if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation and except that no indemnification shall be made in respect of any claim,
issue or matter as to which such person shall have been adjudged to be liable to the Corporation unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought shall determine
upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem
proper. 
  
 (c) To the extent that a Director,
officer, employee or agent of the Corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in Section 9.1 (a) and (b) of these Bylaws, or in defense of any claim, issue or matter therein, he
shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by him in connection therewith. 
  
 (d) Any indemnification under Section 9.1 (a) and (b) of these Bylaws (unless ordered by a court) shall be made by the Corporation only as
authorized in the specific case upon a determination that indemnification of the Director, officer, employee or agent is proper in the circumstances because he has met the applicable standard of conduct set forth in 

  

 -12- 

 
Section 9.1(a) and (b)of these Bylaws. Such determination shall be made (i) by the Board by a majority vote of a quorum consisting of Directors who were not
parties to such action, suit or proceeding, or (ii) if such a quorum is not obtainable, or, even if obtainable, a quorum of disinterested Directors so directs, by independent legal counsel in a written opinion, or (iii) by the stockholders of the
Corporation. 
  
 (e) Expenses (including
attorneys’ fees) incurred by an officer or Director in defending any civil, criminal, administrative or investigative action, suit or proceeding may be paid by the Corporation in advance of the final disposition of such action, suit or
proceeding upon receipt of an undertaking by or on behalf of such Director or officer to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the Corporation pursuant to this Article IX. Such expenses
(including attorneys’ fees) incurred by other employees and agents may be so paid upon such terms and conditions, if any, as the Board deems appropriate. 
  

(f) The indemnification and advancement of expenses provided by, or granted pursuant to, other Sections of this Article IX shall not be
deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any law, by law, agreement, vote of stockholders or disinterested Directors or otherwise, both as to action in an official
capacity and as to action in another capacity while holding such office. 
  
 (g) For purposes of this Article IX, references to “the Corporation” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed
in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its Directors, officers, employees or agents so that any person who is or was a Director, officer, employee or agent of such
constituent corporation, or is or was serving at the request of such constituent corporation as a Director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position
under the provisions of this Article IX with respect to the resulting or surviving corporation as he would have with respect to such constituent corporation if its separate existence had continued. 
  
 (h) For purposes of this Article IX, references to
“other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the
Corporation” shall include any service as a Director, officer, employee or agent of the Corporation which imposes duties on, or involves service by, such Director, officer, employee or agent with respect to any employee benefit plan, its
participants, or beneficiaries; and a person who acted in good faith and in a manner he reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not
opposed to the best interests of the Corporation” as referred to in this Article IX. 
  
 (i) The indemnification and advancement of expenses provided by, or granted pursuant to, this Article IX shall, unless otherwise provided
when authorized or ratified, continue as to a person who has ceased to be a Director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrator of such a person. 
  

 -13- 

 SECTION 9.2. Insurance for Indemnification. The Corporation may purchase and maintain insurance on behalf
of any person who is or was a Director, officer, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a Director, officer, employee or agent of another corporation, partnership, joint venture, trust or
other enterprise, against any liability asserted against him and incurred by him in any such capacity, or arising out of his status as such, whether or not the Corporation would have the power to indemnify him against such liability under the
provisions of Section 145 of the General Corporation Law. 
  
 ARTICLE X. 
  
 AMENDMENTS 
  
 SECTION 10.1. Amendments. Unless otherwise provided in the Certificate of
Incorporation, any Bylaw (including these Bylaws) may be adopted, amended or repealed by the vote of the recordholders of 66 2/3% of the outstanding Shares then entitled to vote, voting together as a single class or by vote of the Board or by a written consent of Directors pursuant to Section 3.8 hereof. 
  

 -14-Cheniere Energy, Inc. 2003 Stock Incentive Plan

 EXHIBIT 4.5 
  

 
 CHENIERE ENERGY, INC. 
  
 2003 STOCK INCENTIVE PLAN 
  
  
  
  
  
  
 January 29, 2004 
  

  
 CHENIERE ENERGY, INC.

  
 2003 STOCK INCENTIVE PLAN 
  
 Table of Contents 
  

					
	ARTICLE I INTRODUCTION	  	1
	1.1	  	Purpose	  	1
	1.2	  	Shares Subject to the Plan	  	1
	1.3	  	Administration of the Plan	  	1
	1.4	  	Amendment and Discontinuance of the Plan	  	1
	1.5	  	Granting of Awards to Participants	  	2
	1.6	  	Term of Plan	  	2
	1.7	  	Leave of Absence	  	2
	1.8	  	Definitions	  	2
		
	ARTICLE II NONQUALIFIED STOCK OPTIONS	  	7
	2.1	  	Grants	  	7
	2.2	  	Calculation of Exercise Price	  	7
	2.3	  	Terms and Conditions of Options	  	7
	2.4	  	Amendment	  	9
	2.5	  	Acceleration of Vesting	  	9
	2.6	  	Other Provisions	  	10
		
	ARTICLE III INCENTIVE OPTIONS	  	10
	3.1	  	Eligibility	  	10
	3.2	  	Exercise Price	  	10
	3.3	  	Dollar Limitation	  	10
	3.4	  	10% Stockholder	  	10
	3.5	  	Options Not Transferable	  	11
	3.6	  	Reload Options	  	11
	3.7	  	Compliance with 422	  	11
	3.8	  	Limitations on Exercise	  	11
		
	ARTICLE IV PURCHASED STOCK	  	11
	4.1	  	Eligible Persons	  	11
	4.2	  	Purchase Price	  	11
	4.3	  	Payment of Purchase Price	  	11
		
	ARTICLE V BONUS STOCK	  	11
		
	ARTICLE VI STOCK APPRECIATION RIGHTS AND PHANTOM STOCK	  	11
	6.1	  	Stock Appreciation Rights	  	11
	6.2	  	Phantom Stock Awards	  	12

					
		
	ARTICLE VII RESTRICTED STOCK	  	13
	7.1	  	Eligible Persons	  	13
	7.2	  	Restricted Period and Vesting	  	13
		
	ARTICLE VIII I PERFORMANCE AWARDS	  	14
	8.1	  	Performance Awards	  	14
	8.2	  	Performance Goals	  	14
		
	ARTICLE IX OTHER STOCK OR PERFORMANCE BASED AWARDS	  	15
		
	ARTICLE X CERTAIN PROVISIONS APPLICABLE TO ALL AWARDS	  	16
	10.1	  	General	  	16
	10.2	  	Stand-Alone, Additional, Tandem, and Substitute Awards	  	16
	10.3	  	Term of Awards	  	16
	10.4	  	Form and Timing of Payment under Awards; Deferrals	  	16
	10.5	  	Vested and Unvested Awards	  	17
	10.6	  	Exemptions from Section 16(b) Liability	  	17
	10.7	  	Other Provisions	  	17
		
	ARTICLE XI WITHHOLDING FOR TAXES	  	17
		
	ARTICLE XII MISCELLANEOUS	  	18
	12.1	  	No Rights to Awards	  	18
	12.2	  	No Right to Employment	  	18
	12.3	  	Governing Law	  	18
	12.4	  	Severability	  	18
	12.5	  	Other Laws	  	18
	12.6	  	Shareholder Agreements	  	18

  
  

 ii 

 CHENIERE ENERGY, INC. 
 2003 STOCK INCENTIVE PLAN 
  
 ARTICLE I 
  
 INTRODUCTION 
  
 1.1 Purpose. The Cheniere Energy, Inc. 2003 Stock Incentive Plan (the
“Plan”) is intended to promote the interests of Cheniere Energy, Inc., a Delaware corporation, (the “Company”) and its stockholders by encouraging Employees, Consultants and Non-Employee Directors of
the Company or its Affiliates (as defined below) to acquire or increase their equity interests in the Company, thereby giving them an added incentive to work toward the continued growth and success of the Company. The Board of Directors of the
Company (the “Board”) also contemplates that through the Plan, the Company and its Affiliates will be better able to compete for the services of the individuals needed for the continued growth and success of the Company.

  
 1.2 Shares Subject to the Plan. The aggregate number of
shares of Common Stock, $.003 par value per share, of the Company (“Common Stock”) that may be issued under the Plan shall not exceed 1,000,000. No more than 500,000 shares of Common Stock shall be issued to any one
Participant in any one calendar year. Notwithstanding the above, however, in the event that at any time after the Effective Date the outstanding shares of Common Stock are changed into or exchanged for a different number or kind of shares or other
securities of the Company by reason of a merger, consolidation, recapitalization, reclassification, stock split, stock dividend, combination of shares or the like, the aggregate number and class of securities available under the Plan shall be
ratably adjusted by the Committee (as defined below), whose determination shall be final and binding upon the Company and all other interested persons. In the event the number of shares to be delivered upon the exercise or payment of any Award
granted under the Plan is reduced for any reason whatsoever or in the event any Award granted under the Plan can no longer under any circumstances be exercised or paid, the number of shares no longer subject to such Award shall thereupon be released
from such Award and shall thereafter be available under the Plan for the grant of additional Awards. Shares issued pursuant to the Plan (i) may be treasury shares, authorized but unissued shares or, if applicable, shares acquired in the open market
and (ii) shall be fully paid and nonassessable. 
  
 1.3
Administration of the Plan. The Plan shall be administered by the Committee. Subject to the provisions of the Plan, the Committee shall interpret the Plan and all Awards under the Plan, shall make such rules as it deems necessary for the proper
administration of the Plan, shall make all other determinations necessary or advisable for the administration of the Plan and shall correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any Award under the Plan
in the manner and to the extent that the Committee deems desirable to effectuate the Plan. Any action taken or determination made by the Committee pursuant to this and the other paragraphs of the Plan shall be conclusive on all parties. The act or
determination of a majority of the Committee shall be deemed to be the act or determination of the Committee. 
  
 1.4 Amendment and Discontinuance of the Plan. The Board may amend, suspend or terminate the Plan; provided, however, no amendment, suspension or
termination of the Plan 

 
may without the consent of the holder of an Award terminate such Award or adversely affect such person’s rights with respect to such Award in any
material respect; provided further, however, that any amendment which would constitute a “material revision” of the Plan (as that term is used in the rules of the American Stock Exchange) shall be subject to shareholder approval.

  
 1.5 Granting of Awards to Participants. The Committee
shall have the authority to grant, prior to the expiration date of the Plan, Awards to such Employees, Consultants and Non-Employee Directors as may be selected by it on the terms and conditions hereinafter set forth in the Plan. In selecting the
persons to receive Awards, including the type and size of the Award, the Committee may consider any factors that it may deem relevant. 
  
 1.6 Term of Plan. The Plan shall be effective as of the date approved by shareholders of the Company (the “Effective
Date”). The provisions of the Plan are applicable to all Awards granted on or after the Effective Date. If not sooner terminated under the provisions of Section 1.4, the Plan shall terminate upon, and no further Awards shall be made,
after the tenth (10th) anniversary of the Effective Date. 
  
 1.7 Leave of Absence. If an employee is on military, sick leave or
other bona fide leave of absence, such person shall be considered an “Employee” for purposes of an outstanding Award during the period of such leave provided it does not exceed 90 days, or, if longer, so long as the person’s right to
reemployment is guaranteed either by statute or by contract. If the period of leave exceeds 90 days, the employment relationship shall be deemed to have terminated on the 91st day of such leave, unless the person’s right to reemployment is
guaranteed by statute or contract. 
  
 1.8 Definitions. As
used in the Plan, the following terms shall have the meanings set forth below: 
  
 “1933 Act” means the Securities Act of 1933, as amended. 
  
 “1934 Act” means the Securities Exchange Act of 1934, as amended. 
  
 “Affiliate” means (i) any entity in which
the Company, directly or indirectly, owns 10% or more of the combined voting power, as determined by the Committee, (ii) any “parent corporation” of the Company (as defined in section 424(e) of the Code), (iii) any “subsidiary
corporation” of any such parent corporation (as defined in section 424(f) of the Code) of the Company and (iv) any trades or businesses, whether or not incorporated which are members of a controlled group or are under common control (as defined
in Sections 414(b) or (c) of the Code) with the Company. 
  
 “Awards” means, collectively, Options, Purchased Stock, Bonus Stock, Stock Appreciation Rights, Phantom Stock, Restricted Stock, Performance Awards, or Other Stock or Performance Based Awards.

  
 “Bonus Stock” is defined in
Article V. 
  

 2 

 “Cause” for termination of any Participant who is a party to an
agreement of employment with or services to the Company shall mean termination for “Cause” as such term is defined in such agreement, the relevant portions of which are incorporated herein by reference. If such agreement does not define
“Cause” or if a Participant is not a party to such an agreement, “Cause” means (i) the willful commission by a Participant of a criminal or other act that causes or is likely to cause substantial economic damage to the Company or
an Affiliate or substantial injury to the business reputation of the Company or Affiliate; (ii) the commission by a Participant of an act of fraud in the performance of such Participant’s duties on behalf of the Company or an Affiliate; or
(iii) the continuing willful failure of a Participant to perform the duties of such Participant to the Company or an Affiliate (other than such failure resulting from the Participant’s incapacity due to physical or mental illness) after written
notice thereof (specifying the particulars thereof in reasonable detail) and a reasonable opportunity to be heard and cure such failure are given to the Participant by the Committee. For purposes of the Plan, no act, or failure to act, on the
Participant’s part shall be considered “willful” unless done or omitted to be done by the Participant not in good faith and without reasonable belief that the Participant’s action or omission was in the best interest of the
Company or an Affiliate, as the case may be. 
  
 “Change of Control” shall be deemed to have occurred upon any of the following events: 
  
 (i) any “person” (as defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and as modified in Section 13(d) and 14(d) of the Exchange Act) other than (A) the Company or any of its subsidiaries, (B) any employee benefit plan of the Company or any of its subsidiaries, (C) or any Affiliate, (D) a company owned,
directly or indirectly, by stockholders of the Company in substantially the same proportions as their ownership of the Company, or (E) an underwriter temporarily holding securities pursuant to an offering of such securities (a “Person”),
becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the shares of voting stock of the Company then outstanding; provided, however,
that an initial public offering of Common Stock shall not constitute a Change of Control; 
  
 (ii) the consummation of any merger, organization, business combination or consolidation of the Company or one of its subsidiaries with or
into any other company, other than a merger, reorganization, business combination or consolidation which would result in the holders of the voting securities of the Company outstanding immediately prior thereto holding securities which represent
immediately after such merger, reorganization, business combination or consolidation more than 50% of the combined voting power of the voting securities of the Company or the surviving company or the parent of such surviving company; 
  
 (iii) the consummation of a sale or disposition by the
Company of all or substantially all of the Company’s assets, other than a sale or disposition if the holders of 
  

 3 

 the voting securities of the Company outstanding immediately prior thereto hold securities immediately
thereafter which represent more than 50% of the combined voting power of the voting securities of the acquiror, or parent of the acquiror, of such assets, or the stockholders of the Company approve a plan of complete liquidation or dissolution of
the Company; or 
  
 (iv) individuals who, as of
the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose
election by the Board, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such
individual whose initial assumption of office occurs as a result of an election contest with respect to the election or removal of directors or other solicitation of proxies or consents by or on behalf of a person other than the Board. 

 
 “Code” means the Internal Revenue Code of
1986, as amended from time to time, and the rules and regulations thereunder. 
  
 “Committee” means the compensation committee appointed by the Board to administer the Plan or, if none, the Board; provided however, that with respect to any Award granted to a Covered Employee which
is intended to be “performance-based compensation” as described in Section 162(m)(4)(c) of the Code, the Committee shall consist solely of two or more “outside directors” as described in Section 162(m)(4)(c)(i) of the Code.

  
 “Consultant” means any
individual, other than a Director or an Employee, who renders consulting or advisory services to the Company or an Affiliate. 
  
 “Covered Employee” shall mean the Chief Executive Officer of the Company or the four highest paid officers of the Company
other than the Chief Executive Officer as described in Section 162(m)(3) of the Code. 
  
 “Disability” means an inability to perform the Participant’s material services for the Company for a period of 90
consecutive days or a total of 180 days, during any 365-day period, in either case as a result of incapacity due to mental or physical illness, which is determined to be total and permanent. A determination of Disability shall be made by a physician
satisfactory to both the Participant (or his guardian) and the Company, provided that if the Participant (or his guardian and the Company do not agree on a physician, the Participant and the Company shall each select a physician and these two
together shall select a third physician, whose determination as to Disability shall be binding on all parties. Eligibility for disability benefits under any policy for long-term disability benefits provided to the Participant by the Company shall
conclusively establish the Participant’s disability. 
  
 “Employee” means any employee of the Company or an Affiliate. 
  

 4 

 “Employment” includes any period in which a Participant is an Employee
or a paid Consultant to the Company or an Affiliate. 
  
 “Fair Market Value or FMV Per Share”. The Fair Market Value or FMV Per Share of the Common Stock shall be the closing price on the principal exchange or over-the-counter market on which such shares are trading, if any, or
as reported on any composite index which includes such principal exchange, for the date of the determination, or if no trade of the Common Stock shall have been reported for such date, the closing sales price quoted on such exchange for the most
recent trade prior to the determination date. If shares of the Common Stock are not listed or admitted to trading on any exchange, over-the-counter market or any similar organization as of the determination date, the FMV Per Share shall be
determined by the Committee in good faith using any fair and reasonable means selected in its discretion. 
  
 “Good Reason” means termination of employment by an Employee, termination of service by a Consultant or resignation from
the Board of a Non-Employee Director under any of the following circumstances: 
  
 (i) if such Employee, Consultant or Non-Employee Director is a party to an agreement for employment with or services to the Company, which
agreement includes a definition of “Good Reason” for termination of employment with or services to the Company, “Good Reason” shall have the same definition for purposes of the Plan as is set forth in such agreement, the relevant
portions of which are incorporated herein by reference. 
  
 (ii) if such Employee, Consultant or Non-Employee Director is not a party to an agreement with the Company that defines the term “Good Reason,” such term shall mean termination of employment or service under
any of the following circumstances, if the Company fails to cure such circumstances within thirty (30) days after receipt of written notice from the Participant to the Company setting forth a description of such Good Reason: 
  
 (i) the removal from or failure to re-elect the Participant
to the office or position in which he or she last served; 
  
 (ii) the assignment to the Participant of any duties, responsibilities, or reporting requirements inconsistent with his or her position with the Company, or any material diminishment, on a cumulative basis, of the
Participant’s overall duties, responsibilities, or status; 
  
 (iii) a material reduction by the Company in the Participant’s fees, compensation, or benefits; or 
  
 (iv) the requirement by the Company that the principal place of business at which the Participant performs his duties be changed to a
location more than fifty (50) miles from downtown Houston, Texas. 
  

 5 

 “Incentive Option” means any option that satisfies the requirements of
Code Section 422 and is granted pursuant to Article III of the Plan. 
  
 “Non-Employee Director” means persons who are members of the Board but who are neither Employees nor Consultants of the Company or any Affiliate. 
  
 “Non-Qualified Option” shall mean an option
not intended to satisfy the requirements of Code Section 422 and which is granted pursuant to Article II of the Plan. 
  
 “Option” means an option to acquire Common Stock granted pursuant to the provisions of the Plan, and refers to either an
Incentive Stock Option or a Non-Qualified Stock Option, or both, as applicable. 
  
 “Option Expiration Date” means the date determined by Committee which shall not be more than ten years after the date of
grant of an Option. 
  
 “Optionee” means a Participant who has received or will receive an Option. 
  
 “Other Stock-Based Award” means an award granted pursuant to Article IX of the Plan that is not otherwise specifically
provided for, the value of which is based in whole or in part upon the value of a share of Common Stock. 
  
 “Outstanding Company Common Stock” means, as of any date of determination, the then outstanding shares of Common Stock of
the Company. 
  
 “Outstanding Company
Voting Securities” means, as of any date of determination, the combined voting power of the then outstanding voting securities of the Company entitled to vote generally on the election of directors. 
  
 “Participant” means any Non-Employee
Director, Employee or Consultant granted an Award under the Plan. 
  
 “Performance Award” means an Award granted pursuant to Article VIII of the Plan, which, if earned, shall be payable in shares of Common Stock, cash or any combination thereof as determined by the
Committee. 
  
 “Purchased Stock”
means a right to purchase Common Stock granted pursuant to Article IV of the Plan. 
  
 “Phantom Shares” means an Award of the right to receive shares of Common Stock issued at the end of a Restricted Period
which is granted pursuant to Article VI of the Plan. 
  
 “Reload Option” is defined in Section 2.3(g). 
  

 6 

 “Restricted Period” shall mean the period established by the Committee
with respect to an Award during which the Award either remains subject to forfeiture or is not exercisable by the Participant. 
  
 “Restricted Stock” shall mean any share of Common Stock, prior to the lapse of restrictions thereon, granted under
Article VII of the Plan. 
  
 “Stock
Appreciation Rights” means an Award granted pursuant to Article VI of the Plan. 
  
 ARTICLE II 
  
 NONQUALIFIED STOCK OPTIONS 
  
 2.1 Grants.
The Committee may grant Options to purchase the Common Stock to any Employee, Consultant or Non-Employee Director according to the terms set forth below. 
  
 2.2 Calculation of Exercise Price. The exercise price to be paid for each share of Common Stock deliverable upon exercise of each Option granted
under this Article II shall not be less than the FMV Per Share on the date of grant of such Option. The exercise price for each Option granted under Article II shall be subject to adjustment as provided in Section 2.3(e). 
  
 2.3 Terms and Conditions of Options. Options shall be in such form as
the Committee may from time to time approve, shall be subject to the following terms and conditions and may contain such additional terms and conditions, not inconsistent with this Article II, as the Committee shall deem desirable: 
  
 (a) Option Period and Conditions and Limitations on
Exercise. No Option shall be exercisable later than the Option Expiration Date. To the extent not prohibited by other provisions of the Plan, each Option shall be exercisable at such time or times as the Committee in its discretion may determine
at the time such Option is granted. 
  
 (b)
Manner of Exercise. In order to exercise an Option, the person or persons entitled to exercise it shall deliver to the Company payment in full for the shares being purchased, together with any required withholding taxes. The payment of the
exercise price for each Option shall either be (i) in cash or by check payable and acceptable to the Company, (ii) with the consent of the Committee, by tendering to the Company shares of Common Stock owned by the person for more than six months
having an aggregate Fair Market Value as of the date of exercise that is not greater than the full exercise price for the shares with respect to which the Option is being exercised and by paying any remaining amount of the exercise price as provided
in (i) above, or (iii) subject to such instructions as the Committee may specify, at the person’s written request the Company may deliver certificates for the shares of Common Stock for which the Option is being exercised to a broker for sale
on behalf of the person, provided that the person has irrevocably instructed such broker to remit directly to the Company on the person’s behalf the full amount of the exercise price from the proceeds of such sale. In the event that the person
elects to make payment as allowed under clause (ii) above, the Committee may, upon confirming that the optionee owns the number of additional shares being tendered, authorize the issuance of a new certificate for the number of shares being acquired
pursuant to the exercise of the Option less the number of shares being tendered upon the exercise and return to the person 
  

 7 

 (or not require surrender of) the certificate for the shares being tendered upon the exercise. If the
Committee so requires, such person or persons shall also deliver a written representation that all shares being purchased are being acquired for investment and not with a view to, or for resale in connection with, any distribution of such shares.

  
 (c) Alternative Payment for Stock.
Subject to the consent of the Committee and at the election of the Participant, payment of the exercise price or withholding may be made, in whole or in part, with shares of Common Stock with respect to which the Option is being exercised. If
payment is to be made in such manner, then the Participant shall deliver to the Company a notice of exercise as to the number of shares of Common Stock to be issued to Participant as well as the number of shares of Common Stock to be retained by the
Company in payment. In such case, the notice of exercise shall include (A) a statement (i) directing the Company to retain the number of shares from the exercise of the Options the Fair Market Value (as of the date of delivery of such notice) of
which is equal to the portion of the exercise price and/or withholding with respect to which the Participant intends to make payment, and (ii) confirming the aggregate number of shares to be delivered to the Participant; and (B) such additional
payment in cash pursuant to the provision of clause (d) or shares pursuant to the provisions of the first paragraph of this clause (c) as shall be necessary, when added to the consideration paid with shares subject to the Option, to pay the exercise
price in full for all such shares. If the Company is required to withhold on account of any federal, state or local tax imposed as a result of an exercise of an Option with previously issued stock or by retention of optioned shares under this
Section, the Common Stock surrendered or retained shall include an additional number of shares whose Fair Market Value equals the amount thus required to be withheld at the applicable minimum statutory rate. 
  
 (d) Options not Transferable. Except as provided
below, no Non-qualified Option granted hereunder shall be transferable other than by (i) will or by the laws of descent and distribution or (ii) pursuant to a domestic relations order and, during the lifetime of the Participant to whom any such
Option is granted, and it shall be exercisable only by the Participant (or his guardian). Any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of, or to subject to execution, attachment or similar process, any Option granted
hereunder, or any right thereunder, contrary to the provisions hereof, shall be void and ineffective, shall give no right to the purported transferee, and shall, at the sole discretion of the Committee, result in forfeiture of the Option with
respect to the shares involved in such attempt. With respect to a specific Non-qualified Option, the Participant (or his guardian) may transfer, for estate planning purposes, all or part of such Option to one or more immediate family members or
related family trusts or partnerships or similar entities. 
  
 (e) Adjustment of Options. In the event that at any time after the Effective Date the outstanding shares of Common Stock are changed into or exchanged for a different number or kind of shares or other
securities of the Company by reason of merger, consolidation, recapitalization, reclassification, stock split, stock dividend, combination of shares or the like, the Committee shall make an appropriate and equitable adjustment in the number and kind
of shares as to which all outstanding Options granted, or portions thereof then unexercised, shall be exercisable, to the end that after such event the shares subject to the Plan and each Participant’s proportionate interest shall be maintained
as before the occurrence of such event. Such adjustment in an outstanding Option shall be made without change in the total price applicable to 
  

 8 

 the Option or the unexercised portion of the Option (except for any change in the aggregate price
resulting from rounding-off of share quantities or prices) and with any necessary corresponding adjustment in exercise price per share. Any such adjustment made by the Committee shall be final and binding upon all Participants, the Company, and all
other interested persons. 
  
 (f) Listing and
Registration of Shares. Each Option shall be subject to the requirement that if at any time the Committee determines, in its discretion, that the listing, registration, or qualification of the shares subject to such Option under any securities
exchange or under any state or federal law, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the issue or purchase of shares thereunder, such Option may not be
exercised in whole or in part unless such listing, registration, qualification, consent or approval shall have been effected or obtained and the same shall have been free of any conditions not acceptable to the Committee. 
  
 (g) Reload Options. A Non-qualified Option may, in
the discretion of the Committee, include a Reload Option right which shall entitle the Participant, upon (i) the exercise of such original Non-qualified Option prior to the Participant’s termination of service and (ii) payment of the
appropriate exercise price in shares of Common Stock that have been owned by such Participant for at least six months prior to the date of exercise, to receive a new Non-qualified Option (the “Reload Option”) to purchase, at
the FMV Per Share on the date of the exercise of the original Non-qualified Option, the number of shares of Common Stock equal to the number of whole shares delivered by the Participant in payment of the exercise price of the original Non-qualified
Option. Such Reload Option shall be subject to the same terms and conditions, including expiration date, and shall be exercisable at the same time or times as the original Non-qualified Option with respect to which it is granted. 
  
 2.4 Amendment. The Committee may, with the consent of the person or
persons entitled to exercise any outstanding Option, amend such Option. The Committee may at any time or from time to time, in its discretion, in the case of any Option which is not then immediately exercisable in full, accelerate the time or times
at which such Option may be exercised to any earlier time or times. The Committee, in its absolute discretion, may grant to holders of outstanding Options, in exchange for the surrender and cancellation of such Options, new Options having exercise
prices lower (or higher) than the exercise price provided in the Options so surrendered and canceled and containing such other terms and conditions as the Committee may deem appropriate. 
  
 2.5 Acceleration of Vesting. Any Option granted hereunder which is not otherwise vested shall vest (unless
specifically provided to the contrary by the Committee in the document or instrument evidencing an Option granted hereunder) upon (i) termination of an Employee or Consultant or removal of a Non-Employee Director without Cause; (ii) resignation of a
Non-Employee Director with Good Reason; (iii) termination, removal or resignation of an Employee, Consultant or Non-Employee Director for any reason within one (1) year from the effective date of the Change of Control; or (iv) death or Disability of
the Participant. 
  

 9 

 2.6 Other Provisions. 
  
 (a) The person or persons entitled to exercise, or who have exercised, an Option shall not be entitled to any rights as a
stockholder of the Company with respect to any shares subject to such Option until he shall have become the holder of record of such shares. 
  
 (b) No Option granted hereunder shall be construed as limiting any right which the Company or any Affiliate may have to terminate at any time, with or
without cause, the employment of any person to whom such Option has been granted. 
  
 (c) Notwithstanding any provision of the Plan or the terms of any Option, the Company shall not be required to issue any shares hereunder if such issuance would, in the judgment of the Committee, constitute a
violation of any state or federal law or of the rules or regulations of any governmental regulatory body. 
  
 (d) No Option shall be exercisable more than six (6) months after the Optionee ceases to be an Employee for any reason other than death or Disability, or
more than one (1) year after the Optionee ceases to be an Employee due to death or Disability. 
  
 ARTICLE III 
  
 INCENTIVE OPTIONS 
  
 The terms specified below
shall be applicable to all Incentive Options. Except as modified by the provisions of this Article III, all the provisions of Article II shall be applicable to Incentive Options. Options which are specifically designated as Non-Qualified Options
shall not be subject to the terms of this Section III. 
  
 3.1 Eligibility. Incentive Options may only be granted to Employees. 
  
 3.2 Exercise Price. The exercise price per Share shall not be less than one hundred percent (100%) of the FMV Per Share on the option grant date. 
  
 3.3 Dollar Limitation. The aggregate Fair Market Value (determined as of the respective date or dates of grant) of
shares of Common Stock for which one or more options granted to any Employee under the Plan (or any other option plan of the Corporation or any Parent or Subsidiary) may for the first time become exercisable as Incentive Options during any one (1)
calendar year shall not exceed the sum of One Hundred Thousand Dollars ($100,000). To the extent the Employee holds two (2) or more such options which become exercisable for the first time in the same calendar year, the foregoing limitation on the
exercisability of such options as Incentive Options shall be applied on the basis of the order in which such options are granted. 
  
 3.4 10% Stockholder. If any Employee to whom an Incentive Option is granted is a 10% Stockholder, then the exercise price per share shall not be
less than one hundred ten percent (110%) of the FMV Per Share on the option grant date and the option term shall not exceed five (5) years measured from the option grant date. 
  

 10 

 3.5 Options Not Transferable. No Incentive Option granted hereunder shall be transferable other
than by will or by the laws of descent and distribution and shall be exercisable during the Optionee’s lifetime only by such Optionee. 
  
 3.6 Reload Options. No Reload Options shall be granted with respect to any Incentive Options. 
  
 3.7 Compliance with 422. All Options that are intended to be Incentive
Stock Options shall be designated as such in the Option grant and in all respects shall be issued in compliance with Code Section 422. 
  
 3.8 Limitations on Exercise. No Incentive Option shall be exercisable more than three (3) months after the Optionee ceases to be an Employee for
any reason other than death or Disability, or more than one (1) year after the Optionee ceases to be an Employee due to death or Disability. 
  
 ARTICLE IV 
  
 PURCHASED STOCK 
  
 4.1 Eligible Persons. The Committee shall have the authority to sell shares of Common Stock to such Employees, Consultants and Non-Employee Directors of the Company or its Affiliates as may be selected by it,
on such terms and conditions as it may establish, subject to the further provisions of this Article IV. Each issuance of Common Stock under this Plan shall be evidenced by an agreement, which shall be subject to applicable provisions of this Plan
and to such other provisions not inconsistent with this Plan as the Committee may approve for the particular sale transaction. 
  
 4.2 Purchase Price. The price per share of Common Stock to be purchased by a Participant under this Plan shall be determined in the sole discretion
of the Committee, and may be less than, but shall not greater than the FMV Per Share at the time of purchase. 
  
 4.3 Payment of Purchase Price. Payment of the purchase price of Purchased Stock under this Plan shall be made in full in cash. 
  
 ARTICLE V 
  
 BONUS STOCK 
  
 The Committee may, from time to time and subject to the provisions of the
Plan, grant shares of Bonus Stock to Employees, Consultants or Non-Employee Directors. Bonus Stock shall be shares of Common Stock that are not subject to a Restricted Period under Article VII. 
  
 ARTICLE VI 
  
 STOCK APPRECIATION RIGHTS AND PHANTOM STOCK 
  
 6.1 Stock Appreciation Rights. The Committee is authorized to grant
Stock Appreciation Rights to Employees, Consultants or Non-Employee Directors on the following terms and conditions. 
  

 11 

 (a) Right to Payment. A Stock Appreciation Right shall confer on the Participant
to whom it is granted a right to receive, upon exercise thereof, the excess of (A) the FMV Per Share on the date of exercise over (B) the grant price of the Stock Appreciation Right as determined by the Committee. 
  
 (b) Rights Related to Options. A Stock Appreciation
Right granted in connection with an Option shall entitle a Participant, upon exercise thereof, to surrender that Option or any portion thereof, to the extent unexercised, and to receive payment of an amount computed pursuant to Subsection 6.1(a)
hereof. That Option shall then cease to be exercisable to the extent surrendered. A Stock Appreciation Right granted in connection with an Option shall be exercisable only at such time or times and only to the extent that the related Option is
exercisable and shall not be transferable (other than by will or the laws of descent and distribution) except to the extent that the related Option is transferable. 
  
 (c) Right Without Option. A Stock Appreciation Right granted independent of an Option shall be
exercisable as determined by the Committee and set forth in the Award agreement governing the Stock Appreciation Right. 
  
 (d) Terms. The Committee shall determine at the date of grant the time or times at which and the circumstances under which a Stock
Appreciation Right may be exercised in whole or in part (including based on achievement of performance goals and/or future service requirements), the method of exercise, whether or not a Stock Appreciation Right shall be in tandem or in combination
with any other Award, and any other terms and conditions of any Stock Appreciation Right. 
  
 6.2 Phantom Stock Awards. The Committee is authorized to grant Phantom Stock Awards to Participants, which are rights to receive cash equal to the Fair Market Value of specified number of shares of Common Stock
at the end of a specified deferral period, subject to the following terms and conditions: 
  
 (a) Award and Restrictions. Satisfaction of a Phantom Stock Award shall occur upon expiration of the deferral period specified for
such Phantom Stock Award by the Committee or, if permitted by the Committee, as elected by the Participant. In addition, Phantom Stock Awards shall be subject to such restrictions (which may include a risk of forfeiture), if any, as the Committee
may impose, which restrictions may lapse at the expiration of the deferral period or at earlier specified times (including based on achievement of performance goals and/or future service requirements), separately or in combination, installments or
otherwise, as the Committee may determine. 
  
 (b) Forfeiture. Except as otherwise determined by the Committee or as may be set forth in any Award, employment or other agreement pertaining to a Phantom Stock Award, upon termination of employment or services during the applicable
deferral period or portion thereof to which forfeiture conditions apply, all Phantom Stock Awards that are at that time subject to deferral (other than a deferral at the election of the Participant) shall be forfeited; provided that the Committee
may provide, by rule or regulation or in any Award agreement, or may determine in any individual case, that restrictions or forfeiture conditions relating to Phantom Stock Awards shall be waived in whole or in part in the event of terminations
resulting from specified causes, 
  

 12 

 and the Committee may in other cases waive in whole or in part the forfeiture of Phantom Stock Awards.

  
 (c) Performance Goals. To the extent
the Committee determines that any Award granted pursuant to this Article VI shall constitute performance-based compensation for purposes of Section 162(m) of the Code, the grant or settlement of the Award shall, in the Committee’s discretion,
be subject to the achievement of performance goals determined and applied in a manner consistent with Section 8.2. 
  
 ARTICLE VII 
  
 RESTRICTED STOCK 
  
 7.1 Eligible Persons.
All Employees, Consultants and Non-Employee Directors shall be eligible for grants of Restricted Stock. 
  
 7.2 Restricted Period and Vesting. 
  
 (a) The Restricted Stock shall be subject to such restrictions on transfer by the Participant and repurchase by the Company as the Committee, in its sole
discretion, shall determine. Prior to the lapse of such restrictions the Participant shall not be permitted to transfer such shares. The Company shall have the right to repurchase or recover such shares for the amount of cash paid therefor, if any,
if (i) the Participant shall terminate employment from or services to the Company prior to the lapse of such restrictions, subject to section 7.2(b) below; or (ii) the Restricted Stock is forfeited by the Participant pursuant to the terms of the
Award. 
  
 (b) Notwithstanding the foregoing, unless the Award
specifically provides otherwise, all Restricted Stock not otherwise vested shall vest upon (i) termination of an Employee or Consultant or removal of a Non-Employee Director without Cause; (ii) termination by an Employee or Consultant or resignation
of a Non-Employee Director with Good Reason; (iii) termination, resignation or removal of an Employee, Consultant or Non-Employee Director for any reason within one (1) year from the effective date of a Change of Control; or (iv) death or Disability
of the Participant. 
  
 (c) Each certificate representing
Restricted Stock awarded under the Plan shall be registered in the name of the Participant and, during the Restricted Period, shall be left in deposit with the Company and a stock power endorsed in blank. The grantee of Restricted Stock shall have
all the rights of a stockholder with respect to such shares including the right to vote and the right to receive dividends or other distributions paid or made with respect to such shares. Any certificate or certificates representing shares of
Restricted Stock shall bear a legend similar to the following: 
  
 The shares represented by this certificate have been issued pursuant to the terms of the Cheniere Energy, Inc. 2003 Stock Incentive Plan (as amended and restated) and may not be sold, pledged, transferred, assigned or otherwise encumbered
in any manner except as is set forth in the terms of such award dated                     ,
200        . 
  

 13 

 ARTICLE VIII 
  
 PERFORMANCE AWARDS 
  
 8.1 Performance Awards. The Committee may grant Performance Awards based on performance criteria measured over a period of not less than one year
and not more than three years. The Committee may use such business criteria and other measures of performance as it may deem appropriate in establishing any performance conditions, and may exercise its discretion to increase the amounts payable
under any Award subject to performance conditions except as limited under Section 8.2 in the case of a Performance Award granted to a Covered Employee. 
  
 8.2 Performance Goals. The grant and/or settlement of a Performance Award shall be contingent upon terms set forth in this Section 8.2. 

 
 (a) General. The performance goals for Performance Awards shall
consist of one or more business criteria and a targeted level or levels of performance with respect to each of such criteria, as specified by the Committee. In the case of any Award granted to a Covered Employee, performance goals shall be designed
to be objective and shall otherwise meet the requirements of Section 162(m) of the Code and regulations thereunder (including Treasury Regulations sec. 1.162-27 and successor regulations thereto), including the requirement that the level or levels
of performance targeted by the Committee are such that the achievement of performance goals is “substantially uncertain” at the time of grant. The Committee may determine that such Performance Awards shall be granted and/or settled upon
achievement of any one performance goal or that two or more of the performance goals must be achieved as a condition to the grant and/or settlement of such Performance Awards. Performance goals may differ among Performance Awards granted to any one
Participant or for Performance Awards granted to different Participants. 
  
 (b) Business Criteria. One or more of the following business criteria for the Company, on a consolidated basis, and/or for specified subsidiaries, divisions or business or geographical units of the Company
(except with respect to the total stockholder return and earnings per share criteria), shall be used by the Committee in establishing performance goals for Performance Awards granted to a Participant: (A) earnings per share; (B) increase in
revenues; (C) increase in cash flow; (D) increase in cash flow return; (E) return on net assets; (F) return on assets; (G) return on investment; (H) return on equity; (I) economic value added; (J) gross margin; (K) net income; (L) pretax earnings;
(M) pretax earnings before interest, depreciation and amortization; (N) pretax operating earnings after interest expense and before incentives, service fees, and extraordinary or special items; (O) operating income; (P) total stockholder return; (Q)
debt reduction; and (R) any of the above goals determined on the absolute or relative basis or as compared to the performance of a published or special index deemed applicable by the Committee including, but not limited to, the Standard &
Poor’s 500 Stock Index or a group of comparable companies. 
  
 (c) Performance Period; Timing for Establishing Performance Goals. Achievement of performance goals in respect of Performance Awards shall be measured over a performance period of not less than one year and not more than five years,
as specified by the Committee. Performance goals in the case of any Award granted to a Participant shall be established not later 
  

 14 

 than 90 days after the beginning of any performance period applicable to such Performance Awards, or at such other date
as may be required or permitted for “performance-based compensation” under Section 162(m) of the Code. 
  
 (d) Settlement of Performance Awards; Other Terms. After the end of each performance period, the Committee shall determine the amount, if any, of
Performance Awards payable to each Participant based upon achievement of business criteria over a performance period. The Committee may not exercise discretion to increase any such amount payable in respect of a Performance Award designed to comply
with Section 162(m) of the Code. The Committee shall specify the circumstances in which such Performance Awards shall be paid or forfeited in the event of termination of employment by the Participant prior to the end of a performance period or
settlement of Performance Awards. 
  
 (e) Written
Determinations. All determinations by the Committee as to the establishment of performance goals, the amount of any Performance Award, and the achievement of performance goals relating to Performance Awards shall be made in writing in the case
of any Award granted to a Participant. The Committee may not delegate any responsibility relating to such Performance Awards. 
  
 (f) Status of Performance Awards under Section 162(m) of the Code. It is the intent of the Company that Performance Awards granted to persons who
are designated by the Committee as likely to be Covered Employees within the meaning of Section 162(m) of the Code and regulations thereunder (including Treasury Regulations sec. 1.162-27 and successor regulations thereto) shall, if so designated by
the Committee, constitute “performance-based compensation” within the meaning of Section 162(m) of the Code and regulations thereunder. Accordingly, the terms of this Section 8.2 shall be interpreted in a manner consistent with Section
162(m) of the Code and regulations thereunder. The foregoing notwithstanding, because the Committee cannot determine with certainty whether a given Participant will be a Covered Employee with respect to a fiscal year that has not yet been completed,
the term Covered Employee as used herein shall mean only a person designated by the Committee, at the time of grant of a Performance Award, who is likely to be a Covered Employee with respect to that fiscal year. If any provision of the Plan as in
effect on the date of adoption or any agreements relating to Performance Awards that are designated as intended to comply with Section 162(m) of the Code does not comply or is inconsistent with the requirements of Section 162(m) of the Code or
regulations thereunder, such provision shall be construed or deemed amended to the extent necessary to conform to such requirements. 
  
 ARTICLE IX 
  
 OTHER STOCK OR PERFORMANCE BASED AWARDS 
  
 The Committee is hereby authorized to grant to Employees, Non-Employee Directors and Consultants of the Company or its Affiliates, Other Stock or
Performance-Based Awards, which shall consist of a right which (i) is not an Award described in any other Article and (ii) is denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, shares of
Common Stock (including, without limitation, securities convertible into shares of Common Stock) or cash as are deemed by the Committee to be consistent with the 
  

 15 

 purposes of the Plan. Subject to the terms of the Plan, the Committee shall determine the terms and conditions of any
such Other Stock or Performance-Based Award. 
  
 ARTICLE X

  
 CERTAIN PROVISIONS APPLICABLE TO ALL AWARDS

  
 10.1 General. Awards may be granted on the terms
and conditions set forth herein. In addition, the Committee may impose on any Award or the exercise thereof, such additional terms and conditions, not inconsistent with the provisions of the Plan, as the Committee shall determine, including terms
requiring forfeiture of Awards in the event of termination of employment by the Participant and terms permitting a Participant to make elections relating to his or her Award. The Committee shall retain full power and discretion to accelerate or
waive, at any time, any term or condition of an Award that is not mandatory under the Plan; provided, however, that the Committee shall not have a discretion to accelerate or waive any term or condition of an Award that is intended to qualify as
“performance-based compensation” for purposes of Section 162(m) of the Code if such discretion would cause the Award not to so qualify. Except in cases in which the Committee is authorized to require other forms of consideration under the
Plan, or to the extent other forms of consideration must be paid to satisfy the requirements of the Delaware General Corporation Law, no consideration other than services may be required for the grant of any Award. 
  
 10.2 Stand-Alone, Additional, Tandem, and Substitute Awards. Awards
granted under the Plan may, in the discretion of the Committee, be granted either alone or in addition to, in tandem with, or in substitution or exchange for, any other Award or any award granted under another plan of the Company, any Affiliate, or
any business entity to be acquired by the Company or an Affiliate, or any other right of a Participant to receive payment from the Company or any Affiliate. Such additional, tandem and substitute or exchange Awards may be granted at any time. If an
Award is granted in substitution or exchange for another Award, the Committee shall require the surrender of such other Award in consideration for the grant of the new Award. In addition, Awards may be granted in lieu of cash compensation, including
in lieu of cash amounts payable under other plans of the Company or any Affiliate. 
  
 10.3 Term of Awards. The term or Restricted Period of each Award that is an Option, Stock Appreciation Right, Phantom Stock or Restricted Stock shall be for such period as may be determined by the Committee;
provided that in no event shall the term of any such Award exceed a period of ten years (or such shorter terms as may be required in respect of an Incentive Stock Option under Section 422 of the Code). 
  
 10.4 Form and Timing of Payment under Awards; Deferrals. Subject to
the terms of the Plan and any applicable Award agreement, payments to be made by the Company or a Subsidiary upon the exercise of an Option or other Award or settlement of an Award may be made in a single payment or transfer, in installments, or on
a deferred basis. The settlement of any Award may, subject to any limitations set forth in the Award agreement, be accelerated and cash paid in lieu of shares in connection with such settlement, in the discretion of the Committee or upon occurrence
of one or more specified events. In the discretion of the Committee, Awards granted pursuant to Article VI or VIII of the Plan may be payable in shares to the extent permitted by the terms of the applicable Award agreement. Installment or deferred
payments 
  

 16 

 may be required by the Committee (subject to Section 1.4 of the Plan, including the consent provisions thereof in the
case of any deferral of an outstanding Award not provided for in the original Award agreement) or permitted at the election of the Participant on terms and conditions established by the Committee. Payments may include, without limitation, provisions
for the payment or crediting of reasonable interest on installment or deferred payments or the grant or crediting of amounts in respect of installment or deferred payments denominated in shares. Any deferral shall only be allowed as is provided in a
separate deferred compensation plan adopted by the Company. The Plan shall not constitute any “employee benefit plan” for purposes of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended. 
  
 10.5 Vested and Unvested Awards. After the satisfaction of all of the
terms and conditions set by the Committee with respect to an Award of (i) Restricted Stock, a certificate, without the legend set forth in Section 7.2(a), for the number of shares that are no longer subject to such restrictions, terms and conditions
shall be delivered to the Employee, (ii) Phantom Stock, to the extent not paid in cash, a certificate for the number of shares equal to the number of shares of Phantom Stock earned, and (iii) Stock Appreciation Rights or Performance Awards, cash
and/or a certificate for the number of shares equal in value to the number of Stock Appreciation Rights or amount of Performance Awards vested shall be delivered to the person. Upon termination, resignation or removal of a Participant under
circumstances that do not cause such Participant to become fully vested, any remaining unvested Options, shares of Restricted Stock, Phantom Stock, Stock Appreciation Rights or Performance Awards, as the case may be, shall either be forfeited back
to the Company or, if appropriate under the terms of the Award, shall continue to be subject to the restrictions, terms and conditions set by the Committee with respect to such Award. 
  
 10.6 Exemptions from Section 16(b) Liability. It is the intent of the Company that the grant of any Awards to or
other transaction by a Participant who is subject to Section 16 of the Exchange Act shall be exempt from Section 16(b) of the Exchange Act pursuant to an applicable exemption (except for transactions acknowledged by the Participant in writing to be
non-exempt). Accordingly, if any provision of this Plan or any Award agreement does not comply with the requirements of Rule 16b-3 as then applicable to any such transaction, such provision shall be construed or deemed amended to the extent
necessary to conform to the applicable requirements of Rule 16b-3 so that such Participant shall avoid liability under Section 16(b) of the Exchange Act. 
  
 10.7 Other Provisions. No grant of any Award shall be construed as limiting any right which the Company or any Affiliate may have to terminate at
any time, with or without cause, the employment of any person to whom such Award has been granted. 
  
 ARTICLE XI 
  
 WITHHOLDING FOR TAXES 
  
 Any issuance of Common
Stock pursuant to the exercise of an Option or payment of any other Award under the Plan shall not be made until appropriate arrangements satisfactory to the Company have been made for the payment of any tax amounts (federal, state, local or other)
that may be required to be withheld or paid by the Company with respect thereto. Such arrangements may, at the discretion of the Committee, include allowing the person to tender to the Company 
  

 17 

 shares of Common Stock owned by the person, or to request the Company to withhold shares of Common Stock being acquired
pursuant to the Award, whether through the exercise of an Option or as a distribution pursuant to the Award, which have an aggregate FMV Per Share as of the date of such withholding that is not greater than the sum of all tax amounts to be withheld
with respect thereto, together with payment of any remaining portion of such tax amounts in cash or by check payable and acceptable to the Company. 
  
 Notwithstanding the foregoing, if on the date of an event giving rise to a tax withholding obligation on the part of the Company the person is an officer
or individual subject to Rule 16b-3, such person may direct that such tax withholding be effectuated by the Company withholding the necessary number of shares of Common Stock (at the tax rate required by the Code) from such Award payment or
exercise. 
  
 ARTICLE XII 
  
 MISCELLANEOUS 
  
 12.1 No Rights to Awards. No Participant or other person shall have
any claim to be granted any Award, there is no obligation for uniformity of treatment of Participants, or holders or beneficiaries of Awards and the terms and conditions of Awards need not be the same with respect to each recipient. 
  
 12.2 No Right to Employment. The grant of an Award shall not be
construed as giving a Participant the right to be retained in the employ of the Company or any Affiliate. Further, the Company or any Affiliate may at any time dismiss a Participant from employment, free from any liability or any claim under the
Plan, unless otherwise expressly provided in the Plan or in any Award Agreement. 
  
 12.3 Governing Law. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be determined in accordance with applicable federal law and the laws of the State
of Delaware, without regard to any principles of conflicts of law. 
  
 12.4 Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Participant or Award, or would disqualify the Plan or any Award under
any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the
intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Participant or Award and the remainder of the Plan and any such Award shall remain in full force and effect. 
  
 12.5 Other Laws. The Committee may refuse to issue or transfer any
shares or other consideration under an Award if, acting in its sole discretion, it determines that the issuance of transfer or such shares or such other consideration might violate any applicable law. 
  
 12.6 Shareholder Agreements. The Committee may condition the grant,
exercise or payment of any Award upon such person entering into a stockholders’ agreement in such form as approved from time to time by the Board. 
  

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