Document:

TWELFTH
AMENDMENT TO LEASE AGREEMENT

 

THIS TWELFTH AMENDMENT
TO LEASE AGREEMENT (this “Twelfth Amendment”) is made and entered into on July 19, 2012 (the “Execution
Date”) but effective as of June 30, 2012 (the “Effective Date”), by and between
TEXAS TOWER LIMITED, a Texas limited partnership (the “Landlord”), and SANDERS MORRIS HARRIS INC.,
a Texas corporation (successor-in-interest to Sanders Morris Mundy Inc.) (the “Tenant”).

 

WITNESSETH

 

WHEREAS, by that certain
Lease Agreement dated September 22, 1987 (the “Original Lease”), Landlord leased to Tenant approximately
8,064 square feet of net rentable area of office space located on Floor 31 (the “Leased Premises”),
of the building now known as JPMorgan Chase Tower, located at 600 Travis Street, in Houston, Harris County, Texas 77002 (the “Building”),
all as is more fully described in the Original Lease; and

 

WHEREAS, Landlord and
Tenant have amended the Original Lease pursuant to the following instruments: (i) First Amendment to Lease Agreement dated October
26, 1990 (the “First Amendment”); (ii) Second Amendment to Lease Agreement dated December 1, 1990
(the “Second Amendment”); (iii) Third Amendment to Lease Agreement dated May 21, 1991 (the “Third
Amendment”); (iv) Fourth Amendment to Lease Agreement dated April 20, 1992 (the “Fourth Amendment”);
(v) Fifth Amendment to Lease Agreement dated July 25, 1994 (the “Fifth Amendment”); (vi) Sixth
Amendment to Lease Agreement dated September 25, 1996 (the “Sixth Amendment”); (vii) Seventh Amendment
to Lease Agreement dated January, 1998 (the “Seventh Amendment”); (viii) Eighth Amendment to Lease
Agreement dated April 27, 2000 (the “Eighth Amendment”); Ninth Amendment to Lease Agreement dated
September 18, 2000 (the “Ninth Amendment”); Tenth Amendment to Lease Agreement dated December
7, 2001 (the “Tenth Amendment”); and Eleventh Amendment to Lease Agreement dated December 21,
2006 (as amended by letter agreements dated December 18, 2007, April 24, 2008 and May 31, 2011, respectively) (collectively, the
“Eleventh Amendment”) (the Original Lease, as so amended, is collectively referred to herein as
the “Lease”); and

 

WHEREAS, the current
area of the Leased Premises is 67,024 square feet of net rentable area, consisting of 22,561 square feet of net rentable area on
Floor 57 of the Building, 22,561 square feet of net rentable area on Floor 58 of the Building, and 21,902 square feet of net rentable
area on Floor 59 of the Building, respectively (collectively, the “Existing Premises”), and the
existing Lease term is scheduled to expire on January 31, 2018; and

 

WHEREAS, Landlord and
Tenant desire to further amend the Lease, to provide, among other things, for a reduction of the Leased Premises, and the parties
are willing to agree to such an amendment upon the terms and conditions as set forth below.

 

NOW, THEREFORE, in consideration
of the mutual covenants set forth herein, Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Landlord and Tenant agree to amend, and do hereby amend, the Lease as follows:

 

    	 

    	 

    

 

1.          Reduction
of Premises. Effective as of the Effective Date (the “Relinquishment Date”), Landlord does
hereby agree to take back from Tenant, and Tenant does hereby agree to relinquish to Landlord, the Floor 57 portion of the Existing
Premises (i.e., 22,561 square feet of net rentable area) (the “Relinquishment Premises”), as reflected
on the floor plan of the Relinquishment Premises attached hereto and made a part hereof for all purposes as EXHIBIT A.
Tenant shall vacate the Relinquishment Premises (other than the “Angola Sublease Premises” defined below and depicted
on EXHIBIT A) on or prior to the Relinquishment Date and surrender same to Landlord in broom-clean condition, with
all of Tenant’s trade fixtures, furnishings, equipment and other personal property removed therefrom with the exception of
the furniture located therein if Tenant agrees to sell such furniture to Breitburn Management Company LLC or some other party next
occupying the Relinquishment Premises. Landlord and Tenant hereby acknowledge and agree that from and after the Relinquishment
Date, all of Tenant’s rights, privileges, duties and obligations accruing with respect to the Relinquishment Premises (other
than those obligations that expressly or by their nature survive the termination of the Lease with respect to the Relinquishment
Premises), including, without limitation, Tenant’s right to possession and use thereof, shall terminate. From and after the
Relinquishment Date, the Leased Premises (as defined in the Lease) shall consist of the Existing Premises less the Relinquishment
Premises, and the net rentable area of the Leased Premises shall be stipulated to be 44,463 square feet.

 

2.          Parking.
From and after the Relinquishment Date, Tenant’s allotment of parking permits now leased by and/or allocated to Tenant pursuant
to Section 9 of the Eleventh Amendment shall be reduced and stipulated as follows: (i) ten (10) reserved Must-Take Building Parking
Permits; (ii) two (2) reserved Month-to-Month Building Parking Permits; (iii) thirty-five (35) unreserved Must-Take Block 68 Parking
Permits; (iv) ten (10) reserved Must-Take Block 68 Parking Permits; and (v) up to thirty-two (32) unreserved Optional Block 68
Parking Permits, on the terms and conditions set forth in such Section 9.

 

3.          Renewal
Options. Effective as of the Execution Date, the renewal options granted Tenant pursuant to Section 11 of the Eleventh Amendment
shall no longer apply to the Relinquishment Premises. In addition, Section 11(c)(ii) of the Eleventh Amendment shall be deleted
in its entirety. For purposes of clarity only, Tenant shall have the option to renew and extend the term of this Lease as provided
in Section 11 of the Eleventh Amendment, provided no event of default then exists under the Lease.

 

4.          No
Expansion Options. Effective as of the Execution Date, Section 13 of the Eleventh Amendment is hereby deleted in its entirety.

 

5.          Internal
Stairwell. On or prior to August 31, 2012, Tenant, at its sole cost and expense, shall seal off entry from the Floor 58 portion
of the Premises to the internal stairwell now connecting Floors 57 and 58 of the Building, with drywall/trim according to specifications
reasonably acceptable to Landlord. Landlord, shall be responsible, at it sole cost and expense, for sealing off entry to such internal
stairwell from Floor 57 of the Building according to specifications and timing acceptable to Landlord.

 

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6.          No
Brokerage Commissions. Each party hereby represents and warrants to the other that other than Tenant’s representation
by CBRE, Inc., for which CBRE, Inc. will look solely to Tenant for any compensation associated with this Twelfth Amendment it has
not employed any agents, brokers, or other parties in connection with this Twelfth Amendment who will be paid or will be entitled
to be paid a commission in connection with this Twelfth Amendment, and each party agrees to hold the other party harmless from
and against any and all claims of all agents, brokers and/or other such parties claiming a commission by or through it in connection
with this Twelfth Amendment.

 

7.          Sublease
Guaranty. Tenant is currently subleasing a portion of the Relinquishment Premises equal to 9,091 square feet of net rentable
area depicted on EXHIBIT A (the “Angola Sublease Premises”) to Angola LNG Supply
Services LLC (“Angola”) pursuant to that certain Sublease Agreement dated June 20, 2008 (the “Angola
Sublease”). The Angola Sublease shall continue as a direct lease between Landlord and Angola from and after the
Effective Date. As an inducement to Landlord to execute this Twelfth Amendment and as a condition to such execution by Landlord,
Tenant shall execute and deliver to Landlord a guarantee of the payment and performance of all liabilities, obligations and duties
imposed upon Angola by the terms of the Angola Sublease during the period commencing on July 1, 2012 and continuing through and
including July 31, 2013 in the form of EXHIBIT B attached hereto and made a part hereof for all purposes; provided
that in the event of any loss or claim by Landlord under the Angola Sublease, Landlord shall first collect from (and exhaust) the
Angola Sublease security deposit being assigned and transferred to Landlord by Tenant, prior to claiming on the guarantee against
Tenant.

 

8.          OFAC.
Pursuant to United States Presidential Executive Order 13224 signed on September 24, 2001, and entitled “Blocking Property
and Prohibiting Transactions with Persons Who Commit Threaten to Commit, or Support Terrorism” (“Executive
Order”), U.S. companies are required to ensure that they do not transact business with persons or entities determined
to have committed, or to pose a risk of committing or supporting, terrorist acts and those identified on the list of Specially
Designated Nationals and Blocked Persons (“List”), generated by the Office of Foreign Assets Control
of the U.S. Department of the Treasury (“OFAC”). The names or aliases of these persons or entities
(“Blocked Persons”) are updated from time to time. Tenant hereby acknowledges and agrees that
Tenant’s inclusion on the List as a Blocked Person at any time during the Term shall be an Event of Default under the Lease
for which Landlord may terminate the Lease. The provisions of this paragraph shall survive termination of the Lease. Tenant represents
that, (i) neither Tenant nor any person or entity that directly owns ten percent (10%) or greater equity interest in it nor any
of its officers, directors, or managing members is a person or entity with whom U.S. Person or entities are restricted from doing
business under regulations of OFAC (including those named on the List), or under the Executive Order, or under other governmental
action, and (ii) that throughout the term of the Lease, Tenant shall comply with the Executive Order.

 

9.          Miscellaneous.

 

(a)         Amendment
to Lease. Tenant and Landlord acknowledge and agree that the Lease has not been amended or modified in any respect, other than
by this Twelfth Amendment, and there are no other agreements of any kind currently in force and effect between Landlord and Tenant
with respect to the Premises or the Building. The term “Lease” shall mean the Lease, as so amended, unless the context
requires otherwise.

 

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(b)          Counterparts.
This Twelfth Amendment may be executed in multiple counterparts, and each counterpart when fully executed and delivered shall constitute
an original instrument, and all such multiple counterparts shall constitute but one and the same instrument.

 

(c)          Entire
Agreement. This Twelfth Amendment sets forth all covenants, agreements and understandings between Landlord and Tenant with
respect to the subject matter hereof and there are no other covenants, conditions or understandings, either written or oral, between
the parties hereto except as set forth in this Twelfth Amendment.

 

(d)          Full
Force and Effect. Except as expressly amended hereby, all other items and provisions of the Lease, as amended, remain unchanged
and continue to be in full force and effect.

 

(e)          Conflicts.
The terms of this Twelfth Amendment shall control over any conflicts between the terms of the Lease and the terms of this Twelfth
Amendment.

 

(f)          Authority
of Tenant. Tenant warrants and represents unto Landlord that (i) Tenant is a duly organized and existing legal entity, in good
standing in the State of Texas and is qualified to do business in the State of Texas; (ii) Tenant has full right and authority
to execute, deliver and perform this Twelfth Amendment; (iii) the person executing this Twelfth Amendment was authorized to do
so; and (iv) upon request of Landlord, such person will deliver to Landlord satisfactory evidence of his or her authority to execute
this Twelfth Amendment on behalf of Tenant.

 

(g)          Capitalized
Terms. Capitalized terms not defined herein shall have the same meanings attached to such terms under the Lease.

 

(h)          Successors
and Assigns. This Twelfth Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

 

(i)          Governing
Law. This Twelfth Amendment shall be governed by and construed in accordance with the laws of the State of Texas.

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Executed as of the date
first written above.

  

	 	LANDLORD:
	 	 
	 	TEXAS TOWER LIMITED,
	 	a Texas limited partnership
	 	 
	 	By:	Prime Asset Management LLC,
	 	 	a Delaware limited liability company,
	 	 	its general partner

 

	 	 	By:	Raha One (U.S.) Limited, Inc.,
	 	 	 	a Delaware corporation,
	 	 	 	its managing member

 

	 	 	 	By:	/s/ Rafic A. Bizri
	 	 	 	 	Rafic A. Bizri
	 	 	 	 	President

  

	 	TENANT:
	 	 
	 	SANDERS MORRIS HARRIS INC.,
	 	a Texas corporation
	 	 
	 	By:	  /s/ George L. Ball
	 	Name: George L. Ball
	 	Title: Chairman of thee Board

 

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EXHIBIT
A

 

Floor Plan of Relinquishment Premises

 

 

    	A-1

    	 

    

 

EXHIBIT
B

 

Guaranty

 

For value received,
and in order to induce TEXAS TOWER LIMITED, a Texas limited partnership (“Landlord”), to execute
a lease with ANGOLA LNG SUPPLY SERVICES LLC, a Delaware limited liability company (“Tenant”),
for leased premises consisting of approximately 9,091 square feet of net rentable area on Floor 57 (the “Premises”)
of JPMorgan Chase Tower, an office building located on Block 67, South Side Buffalo Bayou, in Houston, Harris County, Texas (together
with any and all extensions or renewals thereof and amendments and modifications thereto, the “Lease”)
SANDERS MORRIS HARRIS INC., a Texas corporation (“Guarantor”), hereby unconditionally guarantees
to Landlord (and Landlord’s successors or assigns) the full, prompt and faithful performance of each and every obligation
of Tenant under the Lease, including, without limitation, the full and punctual payment (in the manner and at the times prescribed
in the Lease) of all sums due and owing or to become due and owing by Tenant under the Lease (whether as Base Rent, as Additional
Rental, court costs, attorneys’ fees and any and all such other sums as may be payable by Tenant to Landlord under the Lease)
(the “Guaranteed Obligations”). Notwithstanding the foregoing, Guarantor’s aggregate liability
under this Guaranty shall not exceed the “Maximum Guaranty Amount” (as defined in paragraph 2 below). A true and correct
copy of the Lease is attached hereto as EXHIBIT A. All capitalized terms used in this Guaranty and not defined in
this Guaranty shall have the meaning given to such terms in the Lease.

 

1.          The
obligations of Guarantor as to the Guaranteed Obligations shall continue in full force and effect against Guarantor until the earlier
to occur of (i) July 31, 2013 (provided no uncured event of default by Tenant under the Lease has occurred and is then continuing
at such time) or (ii) the date all Guaranteed Obligations are unconditionally and irrevocably paid in full. This Guaranty covers
any and all of the Guaranteed Obligations, whether presently outstanding or arising subsequent to the date hereof. This Guaranty
is binding upon and enforceable against Guarantor and its successors and assigns.

 

2.          This
instrument shall be an absolute, continuing, irrevocable, and unconditional guaranty, of payment and performance and not a guaranty
of collection, and Guarantor shall remain liable on its obligations hereunder until the payment in full of the Guaranteed Obligations.
Notwithstanding anything contained in this Guaranty to the contrary, the aggregate liability of Guarantor for the payment of the
Guaranteed Obligations (the “Maximum Guaranty Amount”) shall not exceed the total sum of $297,449.60.
The Maximum Guaranty Amount shall be reduced monthly during the term of this Guaranty on a dollar-for-dollar basis, by the aggregate
amount of Base Rent and Additional Rental timely paid by Tenant pursuant to the Lease from and after the Effective Date.

 

3.          If
Guarantor becomes liable for any indebtedness owing by Tenant to Landlord by endorsement or otherwise, other than under this Guaranty,
such liability shall not be in any manner impaired or affected hereby, and the rights of Landlord hereunder shall be cumulative
of any and all other rights that Landlord may ever have against Guarantor. The exercise by Landlord of any right or remedy hereunder
or under any other instrument, or at law or in equity, shall not preclude the concurrent or subsequent exercise of any other right
or remedy.

 

    	B-1

    	 

    

 

4.          In
the event of a default (beyond applicable cure period(s) following notice) by Tenant in payment of the Guaranteed Obligations,
or any part thereof, when such Guaranteed Obligations become due, whether by its terms, by acceleration, or otherwise, Guarantor
shall within ten (10) business days after receiving notice from Landlord pay the amount due thereon to Landlord upon written demand
in lawful money of the United States and it shall not be necessary for Landlord, in order to enforce such payment by Guarantor,
first to institute suit or exhaust its remedies against Tenant or others liable on such Guaranteed Obligations, or to enforce any
rights against any collateral which shall ever have been given to secure such Guaranteed Obligations.

 

5.          Guarantor
hereby agrees that its obligations under this Guaranty shall not be released, diminished, impaired, reduced, or affected by the
occurrence of any reason or event, including, without limitation, one or more of the following events, whether or not with notice
to or the consent of Guarantor: (a) the taking or accepting of collateral as security for any or all of the Guaranteed Obligations
or the release, surrender, exchange, or subordination of any collateral now or hereafter securing any or all of the Guaranteed
Obligations; (b) any partial release of the liability of Guarantor hereunder, or the release of any other guarantor from liability
for any or all of the Guaranteed Obligations; (c) any disability of Tenant, or the dissolution, insolvency, or bankruptcy of Tenant,
Guarantor, or any party at any time liable for the payment of any or all of the Guaranteed Obligations; (d) any adjustment, indulgence,
forbearance, waiver, or compromise that may be granted or given by Landlord to Tenant, Guarantor, or any other party ever liable
for any or all of the Guaranteed Obligations; (e) any neglect, delay, omission, failure, or refusal of Landlord to take or prosecute
any action for the collection of any of the Guaranteed Obligations or to foreclose or take or prosecute any action in connection
with any instrument, document, or agreement evidencing, securing, or otherwise relating to any or all of the Guaranteed Obligations;
(f) the unenforceability or invalidity of any or all of the Guaranteed Obligations or any instrument, document, or agreement evidencing,
securing, or otherwise relating to any or all of the Guaranteed Obligations; (g) any payment by Tenant to Landlord is determined
by a court to constitute a preference under the bankruptcy laws or if for any other reason Landlord is required to refund such
payment or pay the amount thereof to someone else; (h) the failure of Landlord to perfect or continue any security interest or
lien securing any or all of the Guaranteed Obligations; or (i) the failure of Landlord to preserve, protect, maintain, or insure
any collateral securing any or all of the Guaranteed Obligations.

 

6.          Guarantor
hereby represents and warrants to Landlord that Guarantor will receive direct benefit from the making of this Guaranty. Guarantor
represents and warrants to Landlord that Guarantor has the power and authority to execute, deliver and perform her obligations
under this Guaranty and this Guaranty constitutes the legal, valid and binding obligation of Guarantor, enforceable against Guarantor
in accordance with its terms, except as limited by bankruptcy, insolvency, or other laws of general application relating to the
enforcement of creditor’s rights.

 

7.          All
present and future indebtedness of Tenant to Guarantor is hereby subordinated to the Guaranteed Obligations.

 

    	B-2

    	 

    

 

8.          No
amendment or waiver of any provision of this Guaranty nor consent to any departure by Guarantor therefrom shall in any event be
effective unless the same shall be in writing and signed by Landlord. No failure on the part of Landlord to exercise, and no delay
in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder
preclude any other or further exercise thereof or the exercise of any other right. The remedies herein provided are cumulative
and not exclusive of any remedies provided by law.

 

9.          This
Guaranty is for the benefit of Landlord and its successors and assigns, and in the event of an assignment of the Guaranteed Obligations,
or any part thereof, the rights and benefits hereunder, to the extent applicable to the Guaranteed Obligations so assigned, may
be transferred with such Guaranteed Obligations. This Guaranty is binding not only on Guarantor, but on Guarantor’s successors
and assigns.

 

10.         This
Guaranty is executed and delivered as an incident to a lending transaction performable in Harris County, Texas, and shall be governed
by and construed in accordance with the laws of the State of Texas. Venue in any dispute relating to this Guaranty, whether in
federal or state court, shall be laid in Harris County, Texas.

 

11.         Guarantor
shall pay on demand all reasonable attorneys’ fees and all other costs and expenses incurred by Landlord in connection with
the enforcement or collection of this Guaranty.

 

12.         Upon
satisfaction in full of the Guaranteed Obligations, this Guaranty will terminate, and Guarantor shall have no further obligation
hereunder except for Guarantor’s obligations under paragraph 11 above, which shall survive.

 

	 	GUARANTOR:
	 	 
	 	SANDERS MORRIS HARRIS INC.,
	 	a Texas corporation
	 	 
	 	By:	/s/ George L. Ball
	 	Name:	George L. Ball 
	 	Title:	Chairman

 

    	B-3

    	 

    

 

	THE STATE  OF TEXAS	§
	 	 
	COUNTY OF HARRIS	§

 

This
instrument was acknowledged before me this 27th day of June, 2012 by George L. Ball, Chairman of SANDERS MORRIS HARRIS
INC., a Texas corporation, on behalf of said corporation.

 

	 	/s/ Susan Eva Bailey
	 	Notary Public in and for
	 	the State of Texas
	 	 
	 	Printed Name of Notary:	Susan Eva Bailey 
	 	 	 
	 	My Commission Expires:	March 8, 2016

 

    	B-4EXHIBIT 10.1

 

 

 

 

THE GOVERNMENT OF THE
CAYMAN ISLANDS

 

_________________________________________________

 

An Amendment to a Licence dated 11th
July 1990

to Produce Potable Water from Seawater

granted to

Cayman Water Company Limited

 

on 11th of
July 2012

 

_________________________________________________

 

 

 

    	 

    	 

    

AMENDMENT TO A LICENCE
DATED 11 JULY 1990 TO PRODUCE

POTABLE WATER FROM SEAWATER

 

granted to

 

CAYMAN WATER COMPANY
LIMITED

 

by

 

THE GOVERNMENT OF THE
CAYMAN ISLANDS

 

The Water (Production and
Supply) Law 1979

(Law 15 of 1979)

 

THIS AMENDMENT to
the Licence (as defined below) is made on the 11th day of July 2012 by The Governor of the Cayman Islands (the "Governor")
and Cayman Water Company Limited, a company duly incorporated under the laws of the Cayman Islands whose registered office is situated
at Fourth Floor, Windward Three, Regatta Business Park, West Bay Road, PO Box 1114, Grand Cayman KYI-1102, Cayman Islands (the
"Company").

 

WHEREAS

 

		(1)	On 11 July 1990 the Governor granted a licence, under Section 3 of the Water (Production and Supply)
Law 1979, to the Company granting it the exclusive right within the Licence Area to process Seawater to Water for sale and to distribute
and sell Water by means of pipes.

 

		(2)	The licence has been amended by four (4) amendments, dated 18 September 1990, 14 February 1991,
15 August 2001 and 01 February 2003 (the aforesaid licence, as so amended, being herein referred to as the "Licence").

 

		(3)	On 9 June 2008, the Company exercised its right to enter into negotiations for the grant of a Licence
for a further term.

 

		(4)	The Term of the Licence ended on 10 July 2010 before the negotiations for the licence renewal could
be finalized.

 

		(5)	The Governor has granted previous extensions of the term of the Licence, as defined by Clause 4
of the Licence, to allow the negotiations for the licence renewal to continue without affecting the provisions of water production
and supply services in the Licensed Area.

 

		(6)	The Parties wish to extend the Term of the Licence in order
to facilitate the ongoing negotiations.

 

    	 

    	 

    

NOW THIS DEED WITNESSES as follows:

 

		(1)	The term of the Licence, as defined by Clause 4 of the Licence,
is hereby extended until 31 December 2012.

 

THE terms and definitions as contained
in this Amendment and not otherwise defined shall have the same meanings as those contained within the Licence and the Licence
shall hereafter be read and construed in accordance with the variations effected by this Amendment.

 

SAVE as varied by this Amendment,
the Licence shall continue in full force and effect.

 

IN WITNESS WHEREOF the parties have
caused this Amendment to be executed by their authorized officers.

 

The public of the Government of the Cayman

Islands was affixed in the presence of

 

/s/ Duncan Taylor

His Excellency the Governor, Mr. Duncan Taylor

CBE

 

	
        Signed by the Water Authority in the presence of

         

         

         
	
         

         

        By:  /s/ Lemuel Hurlston

      CHAIRMAN

         

	/s/ Alisha Racz

    WITNESS	By: /s/ Otto Watler

          BOARD MEMBER
	Signed on behalf of Cayman Water Company Limited in the presence of	
         

         

        By: /s/ Frederick W. McTaggart

              DIRECTOR

         

	/s/ Gregory S. McTaggart

    WITNESS	By: /s/ Clarence Flowers
    

          DIRECTOR
	 	 

 

    	-2-

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