Document:

Exhibit 10.3

      

      

      INDEMNIFICATION AGREEMENT

       

      This Indemnification Agreement is effective as of [•], 2020 (this “Agreement”)
        and is between Hygo Energy Transition Ltd., a Bermuda company (the “Company”), and the undersigned director/officer of the Company (the “Indemnitee”).

       

      Background

       

      The Company believes that, in order to attract and retain highly competent persons to serve as directors or in other capacities, including as officers, it must provide
        such persons with adequate protection through indemnification against the risks of claims and actions against them arising out of their services to and activities on behalf of the Company.

       

      The Company desires and has requested Indemnitee to serve as a director and/or officer of the Company and, in order to induce the Indemnitee to serve in such capacity,
        the Company is willing to grant the Indemnitee the indemnification provided for herein. Indemnitee is willing to so serve on the basis that such indemnification be provided.

       

      The parties by this Agreement desire to set forth their agreement regarding indemnification and the advancement of expenses.

       

      In consideration of Indemnitee’s service to the Company, the covenants and agreements set forth below and for other good and valuable consideration, the receipt and
        adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

       

      Section 1. Indemnification.

       

      To the fullest extent permitted by the Bermuda Companies Act of 1981,as amended from time to time (the “Companies Act”):

       

      (a) The Company shall indemnify Indemnitee if Indemnitee was or is made or is threatened to be made a party to, or is otherwise involved in, as a witness or otherwise,
        any threatened, pending or completed action, suit or proceeding (brought in the right of the Company or otherwise), whether civil, criminal, administrative or investigative and whether formal or informal, including appeals, by reason of the fact
        that Indemnitee is or was or has agreed to serve as a director, officer, employee or agent of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a
        director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit
        plan or other enterprise, or by reason of any action alleged to have been taken or omitted in any such capacity.

       

      (b) The indemnification provided by this Section 1 shall be from and against all loss and
        liability suffered and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by or on behalf of Indemnitee in connection with such action, suit or proceeding, including any appeals.

       

      
        
          

      

      Section 2. Advance Payment of Expenses. To the fullest extent permitted by the Companies Act, expenses (including attorneys’ fees) actually and reasonably incurred by Indemnitee in appearing at, participating in or
        defending any action, suit or proceeding or in connection with an enforcement action as contemplated by Section 3(e), shall be paid by the Company in advance of the final
        disposition of such action, suit or proceeding within 30 days after receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time. The Indemnitee hereby undertakes to repay any amounts
        advanced (without interest) to the extent that it is ultimately determined that Indemnitee is not entitled under this Agreement to be indemnified by the Company in respect thereof. No other form of undertaking shall be required of Indemnitee other
        than the execution of this Agreement. This Section 2 shall be subject to Section 3(b) and
        shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 4, Section
            6 and Section 7.

       

      Section 3. Procedure for Indemnification; Notification and Defense of Claim.

       

      (a) Promptly after receipt by Indemnitee of notice of the commencement of any action, suit or proceeding, Indemnitee shall, if a claim in respect thereof is to be made
        against the Company hereunder, notify the Company in writing of the commencement thereof. The failure to promptly notify the Company of the commencement of the action, suit or proceeding, or of Indemnitee’s request for indemnification, will not
        relieve the Company from any liability that it may have to Indemnitee hereunder, except to the extent the Company is actually and materially prejudiced in its defense of such action, suit or proceeding as a result of such failure. To obtain
        indemnification under this Agreement, Indemnitee shall submit to the Company a written request therefor including such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to enable the Company to
        determine whether and to what extent Indemnitee is entitled to indemnification.

       

      (b) With respect to any action, suit or proceeding of which the Company is so notified as provided in this Agreement, the Company shall, subject to the last two sentences
        of this paragraph, be entitled to assume the defense of such action, suit or proceeding, with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election to do so. After delivery of such notice,
        approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any subsequently-incurred fees of separate counsel engaged by Indemnitee with respect to
        the same action, suit or proceeding unless the employment of separate counsel by Indemnitee has been previously authorized in writing by the Company. Notwithstanding the foregoing, if Indemnitee, based on the advice of his or her counsel, shall
        have reasonably concluded (with written notice being given to the Company setting forth the basis for such conclusion) that, in the conduct of any such defense, there is or is reasonably likely to be a conflict of interest or position between the
        Company and Indemnitee with respect to a significant issue, then the Company will not be entitled, without the written consent of Indemnitee, to assume such defense. In addition, the Company will not be entitled, without the written consent of
        Indemnitee, to assume the defense of any claim brought by or in the right of the Company.

       

      (c) To the fullest extent permitted by the Companies Act, the Company’s assumption of the defense of an action, suit or proceeding in accordance with paragraph (b) above will constitute an irrevocable acknowledgement by the Company that any loss and liability suffered by Indemnitee and expenses (including attorneys’ fees), judgments,
        fines and amounts paid in settlement by or for the account of Indemnitee incurred in connection therewith are indemnifiable by the Company under Section 1 of this
        Agreement.

      

      

      (d) The determination whether to grant Indemnitee’s indemnification request shall be made promptly and in any event within 30 days following the Company’s receipt of a
        request for indemnification in accordance with Section 3(a). If the Company determines that Indemnitee is entitled to such indemnification or, as contemplated by
        paragraph (c) above, the Company has acknowledged such entitlement, the Company will make payment to Indemnitee of the indemnifiable amount within such 30 day period. If
        the Company is not deemed to have so acknowledged such entitlement or the Company’s determination of whether to grant Indemnitee’s indemnification request shall not have been made within such 30 day period, the requisite determination of
        entitlement to indemnification shall, subject to Section 6, nonetheless be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a
        misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
        under the Companies Act.

      

      

      
        
          

      

      (e) In the event that (i) the Company determines in accordance with this Section 3 that
        Indemnitee is not entitled to indemnification under this Agreement, (ii) the Company denies a request for indemnification, in whole or in part, or fails to respond or make a determination of entitlement to indemnification within 30 days following
        receipt of a request for indemnification as described above, (iii) payment of indemnification is not made within such 30 day period, (iv) advancement of expenses is not timely made in accordance with Section 2, or (v) the Company or any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or proceeding designed to
        deny, or to recover from, the Indemnitee the benefits provided or intended to be provided to Indemnitee hereunder, Indemnitee shall be entitled to an adjudication in any court of competent jurisdiction of his or her entitlement to such
        indemnification or advancement of expenses. Indemnitee’s expenses (including attorneys’ fees) incurred in connection with successfully establishing Indemnitee’s right to indemnification or advancement of expenses, in whole or in part, in any such
        proceeding or otherwise shall also be indemnified by the Company to the fullest extent permitted by the Companies Act.

       

      (f) Indemnitee shall be presumed to be entitled to indemnification and advancement of expenses under this Agreement upon submission of a request therefor in accordance
        with Section 2 or Section 3 of this Agreement, as the case may be. The Company shall have
        the burden of proof in overcoming such presumption, and such presumption shall be used as a basis for a determination of entitlement to indemnification and advancement of expenses unless the Company overcomes such presumption by clear and
        convincing evidence.

       

      Section 4. Insurance and Subrogation.

       

      (a) The Company shall use its reasonable best efforts to purchase and maintain a policy or policies of insurance with reputable insurance companies with A.M. Best ratings
        of “A” or better (or, if A.M. Best does not rate the insurance company, an equivalent rating by an equivalent licensed insurance rating organization or agency), providing Indemnitee with coverage for any liability asserted against, and incurred by,
        Indemnitee or on Indemnitee’s behalf by reason of the fact that Indemnitee is or was or has agreed to serve as a director, officer, employee or agent of the Company, or while serving as a director or officer of the Company, is or was serving or has
        agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, fiduciary, partner or manager or similar capacity) of another corporation, limited liability company,
        partnership, joint venture, trust, employee benefit plan or other enterprise, or arising out of Indemnitee’s status as such, whether or not the Company would have the power to indemnify Indemnitee against such liability under the provisions of this
        Agreement. Such insurance policies shall have coverage terms and policy limits at least as favorable to Indemnitee as the insurance coverage provided to any other director or officer of the Company. If the Company has such insurance in effect at
        the time the Company receives from Indemnitee any notice of the commencement of an action, suit or proceeding, the Company shall give prompt notice of the commencement of such action, suit or proceeding to the insurers in accordance with the
        procedures set forth in the policy. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such
        policy.

       

      (b) Subject to Section 9(b), in the event of any payment by the Company under this
        Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect to any insurance policy. Indemnitee shall execute all papers required and take all action necessary to secure such
        rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights in accordance with the terms of such insurance policy. The Company shall pay or reimburse all expenses actually and reasonably
        incurred by Indemnitee in connection with such subrogation.

       

      
        
          

      

      (c) Subject to Section 9(b), the Company shall not be liable under this Agreement to make
        any payment of amounts otherwise indemnifiable hereunder (including, but not limited to, judgments, fines and amounts paid in settlement, and excise taxes or penalties relating to the Employee Retirement Income Security Act of 1974, as amended) if
        and to the extent that Indemnitee has otherwise actually received such payment under this Agreement or any insurance policy, contract, agreement or otherwise.

       

      Section 5. Certain Definitions. For purposes of this Agreement, the following definitions shall apply:

       

      (a) The term “action, suit or proceeding” shall be broadly construed and
        shall include, without limitation, the investigation, preparation, prosecution, defense, settlement, arbitration and appeal of, and the giving of testimony in, any threatened, pending or completed claim, action, suit, arbitration, alternative
        dispute mechanism or proceeding, whether civil, criminal, administrative or investigative (including, without limitation, any such action, suit or proceeding under the
          Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or any other federal law, state law, statute or regulation).

       

      (b) The term “by reason of the fact that Indemnitee is or was or has agreed to serve
            as a director, officer, employee or agent of the Company, or while serving as a director or officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for
            purposes hereof, shall include a trustee, partner or manager or similar capacity) of another corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise” shall be broadly
        construed and shall include, without limitation, any actual or alleged act or omission to act.

       

      (c) The term “expenses” shall be broadly construed and shall include,
        without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements, appeal bonds, other out-of-pocket costs and reasonable compensation for time spent by
        Indemnitee for which Indemnitee is not otherwise compensated by the Company or any third party), actually and reasonably incurred by Indemnitee in connection with either the investigation, defense or appeal of an action, suit or proceeding or
        establishing or enforcing a right to indemnification under this Agreement or otherwise incurred in connection with a claim that is indemnifiable hereunder, provided that in each case such expenses are reasonably documented.

      

      

      (d) The term “judgments, fines and amounts paid in settlement” shall be
        broadly construed and shall include, without limitation, all direct and indirect payments of any type or nature whatsoever, as well as any penalties or excise taxes assessed on a person with respect to an employee benefit plan.

       

      Section 6. Limitation on Indemnification.

       

      Notwithstanding any other provision herein to the contrary, the Company shall not be obligated pursuant to this Agreement:

       

      (a) Claims Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with
        respect to an action, suit or proceeding (or part thereof), however denominated, initiated by Indemnitee or any Indemnitee-related entity (as defined in Section 9(b)), other than (i) an action, suit or proceeding brought to
        establish or enforce a right to indemnification or advancement of expenses under this Agreement (which shall be governed by the provisions of Section 6(b) of this
        Agreement) and (ii) an action, suit or proceeding (or part thereof) that was authorized or consented to by the board of directors of the Company, it being understood and agreed that such authorization or consent shall not be unreasonably withheld
        in connection with any compulsory counterclaim brought by Indemnitee or any Indemnitee-related entity (as defined in Section 9(b)) in response to an action, suit or proceeding otherwise indemnifiable under this Agreement.

       

      
        
          

      

      (b) Action for Indemnification. To indemnify Indemnitee for any expenses incurred by
        Indemnitee with respect to any action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, unless Indemnitee is successful in such action, suit or proceeding in establishing Indemnitee’s right, in whole or in part,
        to indemnification or advancement of expenses hereunder (in which case such indemnification or advancement shall be to the fullest extent permitted by the Companies Act), or unless and to the extent that the court in such action, suit or proceeding
        shall determine that, despite Indemnitee’s failure to establish his or her right to indemnification, Indemnitee is entitled to indemnification for such expenses; provided,
        however, that nothing in this Section 6(b) is intended to limit the Company’s obligations
        with respect to the advancement of expenses to Indemnitee in connection with any such action, suit or proceeding instituted by Indemnitee to enforce or interpret this Agreement, as provided in Section 2 hereof.

       

      (c) Exchange Act and Sarbanes-Oxley Matters. To indemnify Indemnitee on account of (i) any
        suit in which judgment is rendered against Indemnitee for disgorgement of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Exchange Act, (ii) any reimbursement of
        the Company by Indemnitee for any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such
        reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”),
        or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor (including pursuant to any settlement
        arrangements), or (iii) in respect of claw-back provisions promulgated under the rules and regulations of the United States Securities and Exchange Commission pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.

       

      (d) Fraud, Willful Misconduct or Dishonesty. To indemnify Indemnitee on account of conduct
        by Indemnitee where such conduct has been determined by a final (not interlocutory) judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction as to which there is no further right or option of appeal
        or the time within which an appeal must be filed has expired without such filing to have been knowingly fraudulent or constitute willful misconduct or dishonesty.

       

      (e) Prohibited by Law. To indemnify Indemnitee in any circumstance where such
        indemnification has been determined by a final (not interlocutory) judgment or other adjudication of a court or arbitration or administrative body of competent jurisdiction as to which there is no further right or option of appeal or the time
        within which an appeal must be filed has expired without such filing to be prohibited by law.

      

      

      Section 7. Certain Settlement Provisions. The Company shall have no obligation to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any action, suit or proceeding without the Company’s prior
        written consent. The Company shall not settle any action, suit or proceeding in any manner that would impose any fine or other obligation on Indemnitee without Indemnitee’s prior written consent. Neither the Company nor Indemnitee will unreasonably
        withhold his, her, its or their consent to any proposed settlement.

      

      

      
        
          

      

      Section 8. Savings Clause. If any provision or provisions (or portion thereof) of this Agreement shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify
        Indemnitee if Indemnitee was or is made or is threatened to be made a party or is otherwise involved in any threatened, pending or completed action, suit or proceeding (brought in the right of the Company or otherwise), whether civil, criminal,
        administrative or investigative and whether formal or informal, including appeals, by reason of the fact that Indemnitee is or was or has agreed to serve as a director, officer, employee or agent of the Company, or while serving as a director or
        officer of the Company, is or was serving or has agreed to serve at the request of the Company as a director, officer, employee or agent (which, for purposes hereof, shall include a trustee, partner or manager or similar capacity) of another
        corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, from and against all loss and liability
        suffered and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement reasonably incurred by or on behalf of Indemnitee in connection with such action, suit or proceeding, including any appeals, to the fullest extent
        permitted by any applicable portion of this Agreement that shall not have been invalidated.

       

      Section 9. Contribution/Jointly Indemnifiable Claims.

       

      (a) In order to provide for just and equitable contribution in circumstances in which the indemnification provided for herein is held by a court of competent jurisdiction
        to be unavailable to Indemnitee in whole or in part, it is agreed that, in such event, the Company shall, to the fullest extent permitted by the Companies Act, contribute to the payment of all of Indemnitee’s loss and liability suffered and
        expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by or on behalf of Indemnitee in connection with any action, suit or proceeding, including any appeals, in an amount that is just
        and equitable in the circumstances; provided, that, without limiting the generality of the foregoing, such contribution shall not be required where such holding by the
        court is due to any limitation on indemnification set forth in Section 4(c), 6 (other than
        clause (e)) or 7 hereof.

       

      (b) Given that certain jointly indemnifiable claims may arise due to the service of the Indemnitee as a director and/or officer of the Company at the request of the
        Indemnitee-related entities, the Company acknowledges and agrees that the Company shall be fully and primarily responsible for the payment to the Indemnitee in respect of indemnification or advancement of expenses in connection with any such
        jointly indemnifiable claim, pursuant to and in accordance with the terms of this Agreement, irrespective of any right of recovery the Indemnitee may have from the Indemnitee-related entities. Under no circumstance shall the Company be entitled to
        any right of subrogation against or contribution by the Indemnitee-related entities and no right of advancement, indemnification or recovery the Indemnitee may have from the Indemnitee-related entities shall reduce or otherwise alter the rights of
        the Indemnitee or the obligations of the Company hereunder. In the event that any of the Indemnitee-related entities shall make any payment to the Indemnitee in respect of indemnification or advancement of expenses with respect to any jointly
        indemnifiable claim, the Indemnitee-related entity making such payment shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee against the Company, and Indemnitee shall execute all papers reasonably
        required and shall do all things that may be reasonably necessary to secure such rights, including the execution of such documents as may be necessary to enable the Indemnitee-related entities effectively to bring suit to enforce such rights. The
        Company and Indemnitee agree that each of the Indemnitee-related entities shall be third-party beneficiaries with respect to this Section 9(b), entitled to enforce this Section 9(b) as though each such Indemnitee-related entity were a party to this Agreement. For purposes of this Section
            9(b), the following terms shall have the following meanings:

       

      (i) The term “Indemnitee-related entities” means any corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise
        (other than the Company or any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise Indemnitee has agreed, on behalf of the Company or at the Company’s request, to serve as a
        director, officer, employee or agent and which service is covered by the indemnity described in this Agreement) from whom an Indemnitee may be entitled to indemnification or advancement of expenses with respect to which, in whole or in part, the
        Company may also have an indemnification or advancement obligation (other than as a result of obligations under an insurance policy).

       

      
        
          

      

      (ii) The term “jointly indemnifiable claims” shall be broadly construed and shall include, without limitation, any action, suit or proceeding for which the Indemnitee
        shall be entitled to indemnification or advancement of expenses from both the Indemnitee-related entities and the Company pursuant to the Companies Act, any agreement or the certificate of incorporation, bylaws, partnership agreement, operating
        agreement, certificate of formation, certificate of limited partnership or comparable organizational documents of the Company or the Indemnitee-related entities, as applicable.

       

      Section 10. Form and Delivery of Communications. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand, upon
        receipt by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (c) mailed by reputable
        overnight courier, one day after deposit with such courier and with written verification of receipt or (d) sent by email or facsimile transmission, with receipt of oral or written confirmation that such transmission has been received. Notice to the
        Company shall be directed to Rodrigo Fortes, General Counsel, by email at [     ] or by telephone at [     ]. Notice to Indemnitee shall be directed to Indemnitee’s contact information on file with the Company’s Secretary.

       

      Section 11. Nonexclusivity. The provisions for indemnification and advancement of expenses set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under any provision of law,
        in any court in which a proceeding is brought, other agreements or otherwise, and Indemnitee’s rights hereunder shall inure to the benefit of the heirs, executors and administrators of Indemnitee. No amendment or alteration of the Company’s
        Bye-laws or any other agreement shall adversely affect the rights provided to Indemnitee under this Agreement.

      

      

      Section 12. Duration; No Construction as Employment Agreement. This Agreement shall continue until and terminate upon the latest
        of: (i) ten (10) years after the date that Indemnitee shall have ceased to serve as director, officer, employee or agent of the Company or any affiliated enterprise, (ii) one (1) year after the date of final termination of any action, suit or
        proceeding, including any appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement hereunder or (iii) the expiration of all statutes of limitation applicable to possible actions, suits or proceedings
        to which Indemnitee may be subject. The indemnification provided under this Agreement shall continue as to the Indemnitee even though he or she may have ceased to be a director or officer of the Company or of any of the Company’s direct or indirect
        subsidiaries. Nothing contained herein shall be construed as giving Indemnitee any right to be retained as a director of the Company or in the employ of the Company. For the avoidance of doubt, the indemnification and advancement of expenses
        provided under this Agreement shall continue as to the Indemnitee even though he may have ceased to be a director, officer, employee or agent of the Company.

       

      Section 13. Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide indemnification to Indemnitee to the fullest extent now or hereafter
        permitted by the Companies Act.

       

      Section 14. Entire Agreement. This Agreement and the documents expressly referred to herein constitute the entire agreement between the parties hereto with respect to the matters covered hereby, and any other prior or
        contemporaneous oral or written understandings or agreements with respect to the matters covered hereby are expressly superseded by this Agreement.

       

      Section 15. Modification and Waiver. No supplement, modification, waiver or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this
        Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. For the avoidance of doubt, this Agreement may not be terminated by the Company
        without Indemnitee’s prior written consent.

       

      
        
          

      

      Section 16. Successor and Assigns. All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors,
        assigns, heirs, executors, administrators and legal representatives. The Company shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or
        assets of such indemnitor, by written agreement in form and substance reasonably satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to
        perform if no such succession had taken place.

       

      Section 17. Service of Process and Venue. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in
        the courts of Bermuda, and not in any other court in any other country, (ii) consent to submit to the exclusive jurisdiction of the courts of Bermuda for purposes of any action or proceeding arising out of or in connection with this Agreement,
        (iii) appoint, to the extent such party is not otherwise subject to service of process in Bermuda, irrevocably Golar Management (Bermuda) Limited as its agent in Bermuda as such party’s agent for acceptance of legal process in connection with any
        such action or proceeding against such party with the same legal force and validity as if served upon such party personally within Bermuda, (iv) waive any objection to the laying of venue of any such action or proceeding in the courts of Bermuda,
        and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the courts of Bermuda has been brought in an improper or inconvenient forum.

       

      Section 18. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of Bermuda. If a court of competent jurisdiction shall make a final determination that the provisions of the law of any
        jurisdiction other than Bermuda govern indemnification by the Company of Indemnitee, then the indemnification provided under this Agreement shall in all instances be enforceable to the fullest extent permitted under such law, notwithstanding any
        provision of this Agreement to the contrary.

      

      

      Section 19. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument,
        notwithstanding that both parties are not signatories to the original or same counterpart.

       

      Section 20. Headings. The section and subsection headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

       

      
        
          

      

      This Agreement has been duly executed and delivered to be effective as of the date first above written.

      

      

      	
              Company:

            	 	
              Indemnitee:

            
	 	 	 
	
              HYGO ENERGY TRANSITION LTD.

            	 	 
	

            	 
	
              By:

            	 	 	 
	
              Name:

            	 	
              Name:

            
	
              Title:

            	 	
              Title:Exhibit 10.18

    

    

     CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED
        INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II)  WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED.

    

    

      SECONDMENT AND CONSULTANCY AGREEMENT

    

    

    This secondment and consultancy agreement (the “Agreement”) is made on this 4th day of April 2017 between:

    

    

    (1)          MAGNI PARTNERS (BERMUDA) LTD., a
        company incorporated in Bermuda having official number 50059 and having its registered office at Mintflower Place, 8 Par-la-Ville Road, Hamilton HM 08, Bermuda (“Magni”);

    

    

    and

    

    

    (2)          GOLAR POWER LIMITED, a company
        incorporated in Bermuda, having official no. 51481 and having its registered office at Mintflower Place, 8 Par-la-Ville Road, Hamilton HM 08, Bermuda (“Golar Power”);

    

    

    (hereinafter referred to as “Party” in the singular and the “Parties” in the plural).

    

    

    1.          BACKGROUND

    

    

    	1.1	
            Magni is a provider of management and advisory services, primarily related to project development and implementation and will also, from time to time, second individuals to its
              customers in order to fill senior management positions with them.

          

    

    

    	1.2	
            Magni relies on a number of subcontractors for the services Magni provides to its customers, the most important of these being Magni Partners Limited, a wholly owned subsidiary of Magni
              incorporated in and having its office in England (“Magni UK”).

          

    

    

    	1.3	
            Another subcontractor to Magni is Black River Asset Corp. (“Black River”) with whom Magni has a secondment and consultancy agreement (the “Black River Agreement”) setting out the terms pursuant to which, inter alia, Mr. Eduardo Navarro Antonello (“Antonello”) has been seconded to Magni on a 50% basis.

          

    

    

    	1.4	
            Golar Power is a limited company incorporated in Bermuda and owned with equal shares by Golar LNG Limited (“Golar LNG”) and Stonepeak
              Infrastructure Fund III Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”).

          

    

    

    	1.5	
            Golar Power is, through a number of wholly and partly owned subsidiaries (together, the “Golar Group”), engaged in the transportation of liquid
              natural gas (“LNG”), the conversion of LNG to natural gas and the generation of electric power based on natural gas as feedstock.

          

    

    

    	1.6	
            Golar Power has, at the date hereof, one “gas to power”-project under development in the state of Sergipe in Brazil (the “Sergipe Project”).

          

    

    

    	1.7	
            Golar Power has no proprietary management resources and relies, as a matter of policy, on the contracting in of such services from companies providing the same.

          

    

    

    
      

      Page 1 of 12

      
        

      

    

    	1.8	
            The main providers of management services to the Golar Group, at the date hereof, is Golar Management Ltd. and Golar Management Norway AS (jointly “Golar

                Management”), both of which are wholly owned subsidiaries of Golar LNG. The services to be delivered by Golar Management and the terms thereof are set out in a written management agreement between Golar Power and Golar Management
              (the “Golar Management Agreement”).

          

    

    

    	1.9	
            Golar Power has made and makes use of other providers of management services supplementing those provided by Golar Management.

          

    

    

    	1.10	
            Magni has provided management services to Golar Power throughout 2016 with particular focus on the Sergipe Project.

          

    

    

    The scope of and terms applicable to such services were orally agreed and included a bonus payment of USD [***] to Magni when Golar Power’s board of
      directors (the “Board”) approved the final investment decision on the Sergipe Project in October 2016.

    

    

    	1.11	
            Antonello has throughout 2016 been seconded to Golar Power on a 50% basis and has been appointed as Golar Power’s acting chief executive officer, a position he continues to hold.

          

    

    

    	1.12	
            The Parties have now agreed to document the scope of the services to be provided by Magni to Golar Power and the terms which shall apply thereto in writing.

          

    

    

    2.          CONFIRMATION OF THE ENGAGEMENT —
        EFFECTIVE DATE

    

    

    	2.1	
            Golar Power hereby confirms having made use of the services of Magni (inter alia, through the secondment of Antonello to itself by Magni and by Magni providing consultancy services)
              throughout 2016 and further confirms the continued engagement of Magni as a consultant and seconder of Antonello on a part time basis on the terms set forth herein (the “Engagement”).

          

    

    

    	2.2	
            Magni hereby confirms its acceptance of the terms set forth herein as the terms having governed its engagement by Golar Power throughout 2016 and as the terms that shall apply to the
              Engagement with effect from 1 January 2017.

          

    

    

    3.          THE SECONDMENT

    

    

    	3.1	
            Magni hereby confirms the continued secondment of Antonello to Golar Power for the purpose of acting as Golar Power’s chief executive officer (the “Secondment”).

          

    

    

    The Secondment shall be part time and shall cover approximately 50% of a full working year for an individual.

    

    

    	3.2	
            Antonello will, as the basis for his work for Golar Power, receive a letter of instructions from Golar Power, the form of which is attached hereto as Schedule  1 (the “Secondment Letter”).

          

    

    

    
      

      Page 2 of 12

      
        

      

    

    	3.3	
            Magni shall be fully responsible for and shall indemnify Golar Power for and in respect of:

          

    

    

    	

          	(a)	
            any income tax, national insurance and social security contributions and any other liability, deduction, contribution, assessment or claim arising from or made in connection with
              Antonello; and

          

    

    

    	

          	(b)	
            any liability arising from any employment-related claim or any claim based on any alleged status as an employee of Golar Power (including reasonable costs and expenses) brought by
              Antonello against Golar Power.

          

    

    

    Magni shall indemnify Golar Power against all reasonable costs, expenses and any penalty, fine or interest incurred or payable by Golar Power in
      connection with or in consequence of any such liability, deduction, contribution, assessment or claim other than where the latter arise out of Golar Power’s negligence or wilful default.

    

    

    Golar Power may at its option satisfy such indemnity (in whole or in part) by way of deductions from any payments due to Magni.

    

    

    	3.4	
            During the term of the Secondment, Magni shall procure that Antonello shall perform his obligations for Golar Power with all due care, skill and ability and use his best endeavours to
              promote the interests of Golar Power and the Golar Power Group.

          

    

    

    	3.5	
            If Antonello is unable to make himself available to Golar Power due to illness or injury, Magni shall advise Golar Power of that fact as soon as reasonably practicable.

          

    

    

    	3.6	
            Unless having been specifically authorised to do so by Golar Power in writing, neither Magni nor Antonello shall:

          

    

    

    	

          	(a)	
            have any authority to incur any expenditure in the name of or for the account of Golar Power; or

          

    

    

    	

          	(b)	
            hold itself or himself out as having authority to bind Golar Power;

          

    

    

    save for such authority as Antonello may be specifically granted by the Board, cfr. the Secondment Letter.

    

    

    4.          THE CONSULTANCY SERVICES

    

    

    	4.1	
            Magni shall, throughout the terms of the Engagement, provide advisory services to the Board. Such services shall be provided by Magni UK (in their capacity as subcontractor to Magni)
              and shall consist of, inter alia,

          

    

    

    	

          	•	
            providing input to Golar Power’s strategic plans from time to time;

          

    

    

    
      

      Page 3 of 12

      
        

      

    

    	

          	•	
            assisting in raising financing to the Golar Power Group whenever required;

          

    

    

    	

          	•	
            assist in evaluating project opportunities, building financial models and generally support the management of Golar Power in assessing and developing possible projects,

          

    

    

    together with such other assistance as the management of Golar Power and the Board shall require from time to time (together, the “Consultancy Services”)

    

    

    	4.2	
            Magni shall, in providing the Consultancy Services, comply with all applicable laws, regulations, codes and sanctions relating to anti-bribery and anti-corruption including but not
              limited to the Corruption of Foreign Public Officials Act (Canada), the Bribery Act 2010 (UK) and the Foreign Corrupt Practices Act (USA), and shall promptly report to Golar Power any request or demand for any undue financial or other
              advantage of any kind received by Magni in connection with the Consultancy Services.

          

    

    

    5.          FEES AND BONUS

    

    

    	5.1	
            Golar Power shall, with effect from 1 January 2017, reimburse Magni all of Magni’s cost for their seconding in of Antonello from Black River.

          

    

    

    The cost is, as of the date hereof, USD [***] per year, pyable with USD [***] monthly in arrears (the “Secondment Cost”).

    

    

    Magni shall invoice Golar Power for the Secondment Cost no later than 5 working days from the commencement of the month. Golar Power shall settle such
      invoice no later than 5 working days thereafter.

    

    

    Magni shall not agree to any increase in the fee they pay to Black River as consideration for the seconding in of Antonello pursuant to the Black River
      Agreement unless and until Golar Power has accepted the same.

    

    

    	5.2	
            Golar Power shall, with effect from 1 January 2017, pay Magni a monthly fee of USD [***] (the “Consultancy Fee”) as consideration for the
              Consultancy Services.

          

    

    

    	5.3	
            On the last working day of each month during the term of this Agreement, Magni shall submit an invoice to Golar Power covering the Consultancy Fee.

          

    

    

    	5.4	
            Golar Power shall pay each invoice submitted by Magni for the Consultancy Fee within 15 days of receipt.

          

    

    

    	5.5	
            Golar Power shall be entitled to deduct from the Consultancy Fee (any sums that Magni may owe to Golar Power at any time.

          

    

    

    
      

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    	5.6	
            Payment in full or in part of the Consultancy Fee and/or any expenses claimed by Magni shall be without prejudice to any claims or rights of Golar Power against Magni in respect of the
              provision of the Consultancy Services.

          

    

    

    	5.7	
            Golar Power shall, if and when a project to which Magni has contributed through the Consultancy Services is concluded, consider the payment to Magni of an appropriate bonus (a “Magni Bonus”).

          

    

    

    Golar Power shall have no obligation to award and pay a Magni Bonus but shall be obliged to consider it when so requested by Magni.

    

    

    In considering whether to grant Magni a Magni Bonus, Golar Power shall take the contribution of Magni to the conclusion of the relevant project through
      the Consultancy Services and its overall size and importance into account.

    

    

    	5.8	
            The Parties have agreed that the contributions of Antonello in his capacity as Golar Power’s acting CEO will be critical to the Golar Power Group’s development and success and recognise
              that Antonello, as a consequence, should be provided with a personal incentive to perform in this role.

          

    

    

    Accordingly, the Board agrees to consider paying Magni a bonus related to Antonello’s performance of up to USD [***] per year (the “Antonello Bonus”).

    

    

    The award of an Antonello Bonus shall be entirely discretionary for the Board and shall always be conditional on Magni confirming to Golar Power that any
      amount received by Magni as an Antonello Bonus shall be paid on, without deductions to Black River as a bonus under the Black River Agreement and confirmation from Black River that such amount, when received, will be placed at Antonello’s disposal
      without any deductions whatsoever.

    

    

    6.          EXPENSES

    

    

    	6.1	
            Golar Power shall reimburse Magni for all reasonable expenses properly and necessarily incurred by Magni in the course of providing the Consultancy Services, subject to production of
              receipts or other appropriate evidence of payment.

          

    

    

    7.          OTHER ACTIVITIES

    

    

    	7.1	
            Nothing in this Agreement shall prevent Magni or Antonello from being engaged, concerned or having any financial interest in any capacity in any other business, trade, profession or
              occupation provided that:

          

    

    

    	

          	(a)	
            such activity does not cause a breach of any of Magni’s obligations under this Agreement or any relevant laws and regulations;

          

    

    

    	

          	(b)	
            Magni or Antonello shall not engage in any such activity if it relates to a business which is similar to or in any way competitive with or can conflict with the interests of the
              business of Golar Power or the Golar Power Group without the prior written consent of Golar Power; and

          

    

    

    
      

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          	(c)	
            Magni shall always perform the Services in the best interest of Golar Power and the Golar Power Group;

          

    

    

    it being agreed and understood that Magni provides consultancy services to other customers in the LNG business, notably Golar LNG, One LNG SA and Golar
      LNG Partners Ltd.

    

    

    	7.2	
            The obligation set forth in Clause 7.1 (b) above shall, unless otherwise agreed, continue for a period of 6 months following the termination of this Agreement.

          

    

    

    8.          CONFIDENTIAL INFORMATION

    

    

    	8.1	
            In this Agreement “Confidential Information” means information in whatever form (including, without limitation, in written, oral, visual or
              electronic form or on any magnetic or optical disk or memory and wherever located) relating to the business, customers, products, affairs and finances of the Golar Power Group for the time being confidential to Golar Power or the Golar Power
              Group and trade secrets including, without limitation, technical data and know-how relating to the business of Golar Power or the Golar Power Group or any of its or their suppliers, customers, agents, distributors, shareholders, management or
              business contacts and including (but not limited to) information that Magni or Antonello creates, develops, receives or obtains in connection with the Engagement, whether or not such information (if in anything other than oral form) is marked
              confidential.

          

    

    

    	8.2	
            Magni acknowledges that, during the term of the Engagement, it and Antonello will have access to Confidential Information. Magni has therefore agreed that it and Antonello shall not,
              either during the term of the Engagement or at any time after its termination, use or disclose to any third party (and shall use best endeavours to prevent the publication or disclosure of) any Confidential Information. This restriction does
              not apply to:

          

    

    

    	

          	(a)	
            any use or disclosure authorised by Golar Power or required by law; or

          

    

    

    	

          	(b)	
            any information which is already in, or comes into, the public domain otherwise than through Magni’s or Antonello’s unauthorised disclosure.

          

    

    

    9.          LIABILITY

    

    

    	9.1	
            Magni shall have liability for and shall indemnify Golar Power for any loss, liability, costs (including reasonable legal costs), damages or expenses arising from any breach by Magni of
              the terms of this Agreement including any negligent or reckless act, omission or default in the provision of the Consultancy Services.

          

    

    

    
      

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    10.          TERMINATION

    

    

    	10.1	
            Golar Power may terminate the Engagement with immediate effect with no liability to make any further payment to Magni (other than the Consultancy Fee and any Secondment Costs accrued
              before termination of this Agreement) howsoever arising if at any time Magni or Antonello:

          

    

    

    	

          	(a)	
            commits any gross misconduct affecting the business of Golar Power or the Golar Power Group;

          

    

    

    	

          	(b)	
            commits any serious or repeated breach or non-observance of any of the provisions of this Agreement or refuses or neglects to comply with any reasonable and lawful directions of the
              Board;

          

    

    

    	

          	(c)	
            is convicted of any criminal offence;

          

    

    

    	

          	(d)	
            is in the reasonable opinion of Golar Power, negligent or incompetent in the performance of his/its obligations hereunder;

          

    

    

    	

          	(e)	
            is declared bankrupt or makes any arrangement with or for the benefit of its or his creditors;

          

    

    

    	

          	(f)	
            is incapacitated (including by reason of illness or accident) from providing the Services for an aggregate period of 25 days in any 52 week consecutive period;

          

    

    

    	

          	(g)	
            commits any fraud or dishonesty or acts in any manner which in the opinion of Golar Power brings or is likely to bring Golar Power or any entities in the Golar Power Group into
              disrepute or is materially adverse to the interests of Golar Power or any entity in the Golar Power Group; or

          

    

    

    	

          	(h)	
            commits any offence under any anti-bribery legislation including (without limitation) the Corruption of Foreign Public Officials Act (Canada), the Bribery Act 2010 (UK) and the Foreign
              Corrupt Practices Act (USA);

          

    

    

    and, further, if Antonello no longer is available to Magni, whether as a consequence of a termination of the Black River Agreement or otherwise.

    

    

    	10.2	
            The rights of Golar Power under this Clause are without prejudice to any other rights that it might have at law to terminate the Engagement or to accept any breach of this Agreement on
              the part of Magni as having brought the Agreement to an end. Any delay by Golar Power in exercising its rights to terminate shall not constitute a waiver of these rights.

          

    

    

    11.          INTELLECTUAL PROPERTY

    

    

    	11.1	
            All intellectual property (including without limitation that involving or relating to copyrights, inventions (whether patentable or not), processes, know-how, designs, computer
              software, trademarks and other names) arising out of the provision of the Services shall be the sole property of Golar Power. This applies to databases, models, drawings, data and other materials even if such rights are not protected by law.

          

    

    

    
      

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    	11.2	
            Magni may not use and shall procure that Antonello does not use any such rights other than for the purpose of performing the Services during the term of the Engagement.

          

    

    

    	11.3	
            Magni shall and shall procure that Antonello shall, upon the request by Golar Power, promptly execute any document and do anything properly required to secure any rights referred to in
              Clause 11.1 and/or to give Golar Power absolute title to such rights and Magni hereby irrevocably appoints Golar Power to be its attorney in that regard.

          

    

    

    12.          OBLIGATIONS ON TERMINATION

    

    

    	12.1	
            On termination of this Agreement (howsoever arising) Magni shall and shall procure that Antonello shall immediately:

          

    

    

    	

          	(i)	
            deliver to Golar Power all property belonging to his, Golar Power and/or the Golar Power Group in its possession or under its/his control;

          

    

    

    	

          	(ii)	
            irretrievably delete any information relating to Golar Power and the Golar Power Group stored on any magnetic or optical disk or memory and all matter derived from such sources which is
              in its/his possession or under its/his control outside the premises of Golar Power’s offices; and

          

    

    

    	

          	(iii)	
            provide a signed statement that the requirements of this Clause have been fully complied with.

          

    

    

    13.          NO ASSIGNMENT OR SUB-CONTRACTING

    

    

    	13.1	
            Magni shall not assign or sub-contract any of its rights or duties under this Agreement to others than Black River and Magni UK without the prior written consent of the Board.

          

    

    

    14.          ENTIRE AGREEMENT AND PREVIOUS CONTRACTS

    

    

    14.1          Each Party on behalf of itself acknowledges and agrees
        with the other Party that:

    

    

    	

          	(a)	
            this Agreement constitutes the entire agreement and understanding between the Parties and supersedes any previous arrangement, understanding or agreement between them relating to the
              engagement (which shall be deemed to have been terminated by mutual consent);

          

    

    

    	

          	(b)	
            in entering into this Agreement neither of the Parties has relied on any undertaking, promise, assurance, statement, representation, warranty or understanding (whether in writing or
              not) of any person (whether party to this Agreement or not) relating to the Engagement other than as expressly set out in this Agreement (a “Pre-Contractual Statement”); and

          

    

    

    
      

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          	(c)	
            each Party agrees that the only rights and remedies available to it or arising out of or in connection with any Pre-Contractual Statement shall be for breach of contract.

          

    

    

    Nothing in this Agreement shall, however, limit or exclude any liability for fraud.

    

    

    15.          FORCE MAJEURE

    

    

    	15.1	
            No Party shall incur liability of any kind or nature whatsoever in relation to the other Party in the event of a failure to perform any of its obligations hereunder if such failure is
              directly or indirectly caused by circumstances beyond its control such as war or war-like activities, government orders, riots, civil commotion, strike, lock-out or similar actions, an act of God, peril of the sea or any other similar cause.

          

    

    

    	15.2	
            In the event that a situation gives rise to force majeure which prevents Magni from performing the Consultancy Services or to make Antonello available as per the secondment, whether in
              whole or in part, the Parties agree that Magni may, in good faith, obtain substitute performance; provided, however, if such situation continues for a period longer than three (3) months, Golar Power shall be entitled to terminate this
              Agreement by giving one (1) month prior written notice in writing to Magni.

          

    

    

    	15.3	
            The provisions of Clause 10 shall, in such event, apply.

          

    

    

    16.          ANTI-CORRUPTION

    

    

    Without limitation of any other standard that may apply to a particular action as set forth herein, with respect to the conduct and performance of all duties and
      obligations of Magni hereunder, Magni shall, and shall cause its directors, officers, employees and other representatives who provide any Consultancy Services hereunder, to conduct itself, himself or herself with that degree of care, diligence and
      skill of a reasonable prudent operator consistent with industry-standard practices. Magni shall, and shall cause its directors, officers, employees and other representatives, to comply with all applicable laws in connection with the provision of the
      Consultancy Services, including applicable provisions of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, as amended, the United States Foreign Corrupt Practices Act of
      1977, as amended (“FCPA”), the UK Bribery Act of 2010 (“Bribery Act”), the regulations or orders issued by the Office of Foreign Assets Control of the United States
      Department of the Treasury, and the rules and regulations promulgated under each of the foregoing acts. Without limiting the generality of the foregoing, neither Magni nor any of its directors, officers, employees and other representatives who
      provide any Consultancy Service has made or authorised or shall make or authorise, directly or indirectly any offer, gift, payment or transfer, or promise of, any money or anything else of value, or provide any benefit, to any Government Official,
      Government Entity, commercial entity or person that would result in a breach of the FCPA, the Bribery Act, or any other applicable laws relating to anti-bribery or anti-corruption of any jurisdiction in which the Golar Group conducts business. Magni
      shall further maintain complete and accurate books and records in accordance with and as required by the FCPA, the Bribery Act, and generally accepted accounting principles. Furthermore, Magni shall, and shall cause its directors, officers, employees
      and other representatives who provide any Consultancy Services hereunder, to strictly comply at all times with anti-bribery, anti-corruption, anti-terrorism, sanctions and anti-money laundering laws and regulations in any jurisdiction in which the
      Golar Group engages in any activity. Magni shall cause a duly authorised officer to certify Magni’s compliance with the provisions of this Clause 16 if and when requested by Golar Power.

    

    

    
      

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    17.          FURTHER ASSURANCE

    

    

    Each Party will at any time do or procure to be done by a third party, so far as may be reasonably within its power and as may be reasonably requested of it, all acts or
      things and/or execute or procure the execution of all documents in a form satisfactory to the other Party as is or are required to give full effect to the provisions of this Agreement and the transactions intended to be effected pursuant to it.

    

    

    18.          NOTICES

    

    

    	18.1	
            Any notice served by the Parties under this Agreement may be delivered by hand or sent by first class, prepaid recorded delivery post marked for the attention of the relevant Party to
              the address of the addressee as set out in this Agreement or to any other address that the addressee may notify the other Party of in writing from time to time.

          

    

    

    	18.2	
            All notices under Clause 18.1 will be deemed duly served:

          

    

    

    18.2.1 in the case of a notice delivered by hand, at the time of delivery;

    

    

    18.2.2 in the case of a notice sent inland by first class, prepaid recorded delivery, two
      clear London business days after the date of despatch;

    

    

    18.2.3 in the case of a notice sent overseas by recorded delivery airmail, seven business
      days (being business days in the place to which the notice is despatched) after the date of despatch;

    

    

    18.2.4 subject to Clause 18.2.5, in the case of a facsimile transmission, if sent during
      normal business hours at the time of transmission, and if sent outside normal business hours then on the next following London business day;

    

    

    18.2.5 notices may be sent by facsimile, provided they are also delivered by hand or sent by
      post in accordance with Clause 18.2. Notice is not validly served if sent by email.

    

    

    
      

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    19.          VARIATION

    

    

    No variation of this Agreement or of any of the documents referred to in it shall be valid unless it is in writing and signed by or on behalf of each of the Parties.

    

    

    20.          COUNTERPARTS

    

    

    This Agreement may be executed in any number of counterparts, each of which, when executed and delivered, shall be an original, and all the counterparts together shall
      constitute one and the same instrument.

    

    

    21.          THIRD PARTY RIGHTS

    

    

    	21.1	
            Except as expressly provided elsewhere in this Agreement a person who is not a party to this Agreement shall not have any rights under the Contracts (Rights of Third Parties) Act 1999
              to enforce any term of this Agreement but this does not affect any right or remedy of a third party which exists, or is available, apart from under that Act.

          

    

    

    	21.2	
            The rights of the Parties to terminate, rescind or agree any variation, waiver or settlement under this Agreement are not subject to the consent of any person that is not a party to
              this Agreement.

          

    

    

    22.          GOVERNING LAW AND JURISDICTION

    

    

    	22.1	
            This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by
              and construed in accordance with the laws of England and Wales.

          

    

    

    	22.2	
            All disputes arising under or in connection with this Agreement shall be referred to arbitration in London. Arbitration shall be conducted in accordance with one of the following LMAA
              procedures applicable at the date of the commencement of the arbitration proceedings:-

          

    

    

    	

          	(i)	
            Where the amount claimed is less than USD 400,000, excluding interest (or such other sum as the Parties may agree and subject to paragraph (ii) below), the reference shall be to a
              tribunal of three arbitrators and the arbitration shall be conducted in accordance with the LMAA Intermediate Claims Procedure;

          

    

    

    	

          	(ii)	
            Where the amount claimed is less than USD 100,000, excluding interest (or such other sum as the Parties may agree), reference shall be to a sole arbitrator and the arbitration shall be
              conducted in accordance with the LMAA Small Claims Procedure;

          

    

    

    	

          	(iii)	
            In any case where the LMAA procedures referred to above do not apply, the reference shall be to three arbitrators in accordance with the LMAA Terms current at the date of commencement
              of the arbitration proceedings.

          

    

    

    
      

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    	22.3	
            This document has been executed on and takes effect on the date stated at the beginning of it.

          

    

    

    	
            For and on behalf of

          	
            For and on behalf of

          
	
            MAGNI PARTNERS (BERMUDA) LTD.

          	
            GOLAR POWER LIMITED

          
	 	 
	
            /s/ Erling Lind

          	
            /s/ Eduardo Antonello

          
	
            Erling Lind

          	
            Eduardo Antonello

          
	
            Director

          	
            CEO

          

    

    

  

  Page 12 of 12

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