Document:

Exhibit 10.17

  

  

  

  
    Execution Version

  

  

  

  THIRD AMENDED AND RESTATED

  
     

    LIMITED LIABILITY COMPANY AGREEMENT

     

    CRIMSON MIDSTREAM HOLDINGS, LLC

     

    Dated: February 4, 2021

     

    
      
        

    

    
    
      TABLE OF CONTENTS

       

    

  

  
    	 	
            Page

          
	

          

    	
            ARTICLE I. FORMATION AND CONTINUATION OF THE COMPANY

          	
            1

          
	 	
            Section 1.1

          	
            Formation and Continuation

          	
            1

          
	 	
            Section 1.2

          	
            Name

          	
            1

          
	 	
            Section 1.3

          	
            Business

          	
            2

          
	 	
            Section 1.4

          	
            Places of Business; Registered Agent

          	
            2

          
	 	
            Section 1.5

          	
            Term

          	
            2

          
	 	
            Section 1.6

          	
            Filings

          	
            2

          
	 	
            Section 1.7

          	
            Title to Company Property

          	
            2

          
	 	
            Section 1.8

          	
            No Payments of Individual Obligations

          	
            2

          
	 	 	 	 
	
            ARTICLE II. DEFINITIONS AND REFERENCES

          	
            3

          
	 	
            Section 2.1

          	
            Defined Terms

          	
            3

          
	 	
            Section 2.2

          	
            References and Titles

          	
            18

          
	 	 	 	 
	
            ARTICLE III. CAPITALIZATION

          	
            18

          
	 	
            Section 3.1

          	
            Classes and Series of Company Interests

          	18
	 	
            Section 3.2

          	
            Issuances of Additional Securities

          	
            20

          
	 	
            Section 3.3

          	
            Capital Contributions

          	
            21

          
	 	
            Section 3.4

          	
            Return of Contributions

          	
            22

          
	 	 	 	 
	
            ARTICLE IV. ALLOCATIONS AND DISTRIBUTIONS

          	
            22

          
	 	
            Section 4.1

          	
            Allocations of Net Profits and Net Losses

          	
            22

          
	 	
            Section 4.2

          	
            Special Allocations

          	
            22

          
	 	
            Section 4.3

          	
            Distributions

          	
            24

          
	 	
            Section 4.4

          	
            Income Tax Allocations

          	
            26

          
	 	 	 	 
	
            ARTICLE V. MANAGEMENT AND RELATED MATTERS

          	
            27

          
	 	
            Section 5.1

          	
            Power and Authority of Board

          	
            27

          
	 	
            Section 5.2

          	
            Duties of Managers

          	
            34

          
	 	
            Section 5.3

          	
            Officers

          	
            34

          
	 	
            Section 5.4

          	
            Acknowledged and Permitted Activities

          	
            36

          
	 	
            Section 5.5

          	
            Tax Elections and Status

          	
            37

          
	 	
            Section 5.6

          	
            Tax Returns

          	
            37

          
	 	
            Section 5.7

          	
            Tax Matters Member

          	
            37

          
	 	
            Section 5.8

          	
            Budget Act

          	
            38

          
	 	
            Section 5.9

          	
            Budgets

          	
            40

          
	 	 	 	 
	
            ARTICLE VI. INDEMNIFICATION

          	
            41

          
	 	
            Section 6.1

          	
            General

          	
            41

          
	 	
            Section 6.2

          	
            Indemnification of Officers, Employees (if any) and Agent

          	
            42

          
	 	
            Section 6.3

          	
            Non-exclusivity of Rights; Insurance

          	
            42

          
	 	
            Section 6.4

          	
            Savings Clause

          	
            42

          
	 	
            Section 6.5

          	
            Scope of Indemnity

          	
            42

          
	 	
            Section 6.6

          	
            Other Indemnities

          	
            43

          

    

    

    
      i

      
        

    

    	 	
            Section 6.7

          	
            Replacement of Fiduciary Duties

          	
            43

          
	 	
            Section 6.8

          	
            Liability of Indemnitees.

          	
            43

          
	 	
            Section 6.9

          	
            Standards of Conduct and Modification of Duties.

          	
            44

          
	 	 	 	 
	
            ARTICLE VII. RIGHTS OF MEMBERS

          	
            45

          
	 	
            Section 7.1

          	
            General

          	
            45

          
	 	
            Section 7.2

          	
            Limitations on Members

          	
            45

          
	 	
            Section 7.3

          	
            Liability of Members

          	
            45

          
	 	
            Section 7.4

          	
            Withdrawal and Return of Capital Contributions

          	
            45

          
	 	
            Section 7.5

          	
            Voting Rights

          	
            45

          
	 	 	 	 
	
            ARTICLE VIII. BOOKS, REPORTS, MEETINGS AND CONFIDENTIALITY

          	
            46

          
	 	
            Section 8.1

          	
            Capital Accounts, Books and Records

          	
            46

          
	 	
            Section 8.2

          	
            Bank Accounts

          	
            47

          
	 	
            Section 8.3

          	
            Reports

          	
            47

          
	 	
            Section 8.4

          	
            Meetings of Members

          	
            50

          
	 	
            Section 8.5

          	
            Confidentiality

          	
            50

          
	 	 	 	 
	
            ARTICLE IX. DISSOLUTION, LIQUIDATION AND TERMINATION

          	
            52

          
	 	
            Section 9.1

          	
            Dissolution

          	
            52

          
	 	
            Section 9.2

          	
            Liquidation and Termination

          	
            52

          
	 	 	 	 
	
            ARTICLE X. TRANSFERS OF COMPANY INTERESTS

          	
            54

          
	 	
            Section 10.1

          	
            Transfer of Company Interests

          	
            54

          
	 	 	 	 
	
            ARTICLE XI. REPRESENTATIONS AND WARRANTIES

          	
            55

          
	 	 
	
            ARTICLE XII. MISCELLANEOUS

          	
            57

          
	 	
            Section 12.1

          	
            Notices

          	
            57

          
	 	
            Section 12.2

          	
            Amendment

          	
            58

          
	 	
            Section 12.3

          	
            Changes Upon CPUC Approval.

          	59
	 	
            Section 12.4

          	
            Partition

          	
            60

          
	 	
            Section 12.5

          	
            Entire Agreement

          	
            60

          
	 	
            Section 12.6

          	
            Severability

          	
            60

          
	 	
            Section 12.7

          	
            No Waiver

          	
            60

          
	 	
            Section 12.8

          	
            Applicable Law

          	
            60

          
	 	
            Section 12.9

          	
            Successors and Assigns

          	
            60

          
	 	
            Section 12.10

          	
            Arbitration

          	
            60

          
	 	
            Section 12.11

          	
            Legal Representation

          	
            62

          
	 	
            Section 12.12

          	
            Counterparts

          	
            63

          

    

    

    
      ii

      
        

    

    
      	
              INDEX TO EXHIBITS

            
	 	 
	
              Exhibit A

            	
              Members, Capital Contributions, Sharing Ratios

            
	
              Exhibit B

            	
              Grier Companies

            
	
              Exhibit C

            	
              Form of Fourth Amended and Restated Limited Liability Company Agreement of Crimson Holdings, LLC

            
	
              Exhibit D

            	
              Form of CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of Series B Redeemable Convertible Preferred Stock

            
	
              Exhibit E

            	
              Form of CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of 9.00% Series C Exchangeable Preferred Stock

            
	
              Exhibit F

            	
              Form of CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of the Class B Common Stock

            
	
              Exhibit G

            	
              Resolutions to be Approved by Managers

            

      

      

      

      

      
        iii

        
          

      

      
      THIRD AMENDED AND RESTATED

       

      LIMITED LIABILITY COMPANY AGREEMENT

       

      CRIMSON MIDSTREAM HOLDINGS, LLC

       

      THIS THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”), dated effective as of February 4, 2021 (the “Effective Date”), is made by and among:

       

      	

            	•	
              Crimson Midstream Holdings, LLC, a Delaware limited liability company (the “Company”);

            

       

      	

            	•	
              CorEnergy Infrastructure Trust, Inc., a Maryland corporation (“CORR”);

            

       

      	

            	•	
              John D. Grier and M. Bridget Grier, individually, as Members of the Company;

            

       

      	

            	•	
              John D. Grier, as Trustee of the Bridget Grier Spousal Support Trust dated December 18, 2012;  Robert G. Lewis, as Trustee of the Hugh David Grier Trust
                dated October 15, 2012; and Robert G. Lewis, as Trustee of the Samuel Joseph Grier Trust dated October 15, 2012 (collectively, the “Grier Trusts” and,
                together with John D. Grier and M. Bridget Grier, the “Grier Members”), as Members of the Company; and

            

       

      	

            	•	
              any other Person executing this Agreement as a Member.

            

       

      ARTICLE I. FORMATION AND CONTINUATION OF THE COMPANY

       

      Section 1.1          Formation and Continuation.  The parties hereto desire to establish
        this Agreement to govern and continue the Company as a limited liability company under the provisions of the Delaware Limited Liability Company Act, as amended from time to time, and any successor statute or statutes (the “Act”).  The Company was formed upon the execution and filing by the organizer (such Person being hereby authorized to take such action) with the Secretary of State of the State of Delaware of the
        Certificate of Formation of the Company effective on December 3, 2015, and shall be continued pursuant to the terms of this Agreement.  This Agreement shall amend and restate in all respects that certain Second Amended and Restated Limited
        Liability Company Agreement of the Company, dated effective as of January 11, 2019 (the “Prior Agreement”), and such Prior Agreement shall be of no force or effect after the Effective Date.

       

      Section 1.2          Name. The name of the Company shall be Crimson Midstream Holdings,
        LLC.  Subject to all applicable laws, the business of the Company shall be conducted in the name of the Company unless under the law of some jurisdiction in which the Company does business such business must be conducted under another name or
        unless the Board determines that it is advisable to conduct Company business under another name.  In such a case, the business of the Company in such jurisdiction or in connection with such determination may be conducted under such other name or
        names as the Board shall determine to be necessary.  The Board shall cause to be filed on behalf of the Company such assumed or fictitious name certificate or certificates or similar instruments as may from time to time be required by law.

       

      
        1

        
          

      

      Section 1.3          Business. The business of the Company shall be, whether directly or
        indirectly through Subsidiaries, to conduct all activities permissible by applicable law.

       

      Section 1.4          Places of Business; Registered Agent.

       

      (a)          The address of the principal office and place of business of the Company is 1801 California Street, Suite 3600, Denver, CO
        80202.  The Board, at any time and from time to time, may change the location of the Company’s principal place of business upon giving prior written notice of such change to the Members and may establish such additional place or places of business
        of the Company as the Board shall determine to be necessary or desirable.

       

      (b)         The registered office of the Company in the State of Delaware shall be and it hereby is, established and maintained at 1209
        Orange Street, Wilmington, DE 19801, and the registered agent for service of process on the Company shall be The Corporation Trust Company.  The Board, at any time and from time to time, may change the Company’s registered office or registered
        agent or both by complying with the applicable provisions of the Act, and may establish, appoint and change additional registered offices and registered agents of the Company in such other states as the Board shall determine to be necessary or
        advisable.

       

      Section 1.5          Term. The existence of the Company commenced on the date the
        Certificate of Formation of the Company was filed with the Secretary of State of the State of Delaware and shall continue in existence until it is liquidated or dissolved in accordance with this Agreement and the Act.

       

      Section 1.6          Filings.  Upon the request of the Board, the Members shall promptly
        execute and deliver all such certificates and other instruments conforming hereto as shall be necessary for the Board to accomplish all filings, recordings, publishings and other acts appropriate to comply with all requirements for the formation
        and operation of a limited liability company under the laws of the State of Delaware and for the qualification and operation of a limited liability company in all other jurisdictions where the Company shall propose to conduct business.  Prior to
        conducting business in any jurisdiction, the Board shall use its reasonable efforts to cause the Company to comply with all requirements for the qualification of the Company to conduct business as a limited liability company in such jurisdiction.

       

      Section 1.7        Title to Company Property.  All property owned by the Company,
        whether real or personal, tangible or intangible, shall be deemed to be owned by the Company as an entity, and no Member, individually, shall have any ownership of such property.  The Company may hold its property in its own name or in the name of
        a nominee which may be the Board or any trustee, agent or Affiliate of the Company designated by the Board.

       

      Section 1.8           No Payments of Individual Obligations.  The Members shall use the
        Company’s credit and assets solely for the benefit of the Company.  No asset of the Company shall be Transferred for or in payment of any individual obligation of any Member.

       

      
        2

        
          

      

      ARTICLE II. DEFINITIONS AND REFERENCES

       

      Section 2.1          Defined Terms.  When used in this Agreement, the following terms
        shall have the respective meanings set forth below:

       

      “Act” shall have the meaning assigned to such term in Section 1.1.

       

      “Additional Call Amount” shall have the meaning assigned to such term in Section 3.3(b)(i).

       

      “Additional Call Unit FMV” shall have the meaning assigned to such term in Section 3.3(b)(i).

       

      “Additional Call Units” shall have the meaning assigned to such term in Section 3.3(b)(i).

       

      “Additional Equity Securities” shall have the meaning assigned to such term in Section 3.2(a).

       

      “Adjusted Capital Account” shall mean the Capital Account maintained for each Member as provided in Section 8.1(b)
        as of the end of each fiscal year, (a) increased by an amount equal to such Member’s allocable share of Minimum Gain as computed as of the last day of such fiscal year in accordance with the applicable Treasury Regulations, and (b) reduced by the
        adjustments provided for in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4)-(6).

       

      “Adjusted Property” shall mean any property the Carrying Value of which has been adjusted pursuant to Section 8.1(b)(v)
        or any property that has a Carrying Value different than the adjusted tax basis at the time of a Capital Contribution by a Capital Member.

       

      “Adjusted Tax Member” shall have the meaning assigned to such term in Section 5.8(c).

       

      “Adjustment Factor for the Class A-1 Units” shall mean 1.0 for the Class A-1 Units; provided, however, that in the event that CORR
        (a) declares or pays a dividend on its outstanding CORR Series C Preferred Stock, wholly or partly in such CORR Series C Preferred Stock, or makes a distribution to all holders of its outstanding CORR Series C Preferred Stock wholly or partly in
        CORR Series C Preferred Stock, (b) splits or subdivides its outstanding CORR Series C Preferred Stock, or (c) effects a reverse stock split or otherwise combines its outstanding CORR Series C Preferred Stock into a smaller number of CORR Series C
        Preferred Stock, respectively, the Adjustment Factor for the Class A-1 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-1 Units previously in effect by a fraction, the numerator of which shall be the number of CORR
        Series C Preferred Stock, issued and outstanding on the record date for such dividend, distribution, split, subdivision, reverse split or combination (assuming for such purposes that such dividend, distribution, split, subdivision, reverse split or
        combination has occurred as of such time), and the denominator of which shall be the actual number of CORR Series C Preferred Stock (determined without the above assumption) issued and outstanding on such date and, provided further, that if CORR shall merge, consolidate or combine with any entity other than an Affiliate of CORR (the “Surviving Company”), the Adjustment Factor for the Class A-1
        Units shall be adjusted by multiplying the Adjustment Factor for the Class A-1 Units by the number of shares of the Surviving Company into which one share of the CORR Series C Preferred Stock is converted

       

      

      
        3

        
          

      

      pursuant to such merger, consolidation or combination, determined as of the date of such merger, consolidation or combination.  Any adjustment to the Adjustment Factor for the Class A-1 Units shall become effective
        immediately after the effective date of such event retroactive to the record date, if any, for such event.

       

      “Adjustment Factor for the Class A-2 Units” shall mean 1.0 for the Class A-2 Units; provided, however, that in the event that CORR
        (a) declares or pays a dividend on its outstanding CORR Series B Preferred Stock wholly or partly in such CORR Series B Preferred Stock or makes a distribution to all holders of its outstanding CORR Series B Preferred Stock wholly or partly in CORR
        Series B Preferred Stock, (b) splits or subdivides its outstanding CORR Series B Preferred Stock, or (c) effects a reverse stock split or otherwise combines its outstanding CORR Series B Preferred Stock into a smaller number of CORR Series B
        Preferred Stock, the Adjustment Factor for the Class A-2 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-2 Units previously in effect by a fraction, the numerator of which shall be the number of CORR Series B Preferred
        Stock issued and outstanding on the record date for such dividend, distribution, split, subdivision, reverse split or combination (assuming for such purposes that such dividend, distribution, split, subdivision, reverse split or combination has
        occurred as of such time), and the denominator of which shall be the actual number of CORR Series B Preferred Stock (determined without the above assumption) issued and outstanding on such date and, provided
          further, that if CORR shall merge, consolidate or combine with any Surviving Company, the Adjustment Factor for the Class A-2 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-2 Units by the number of shares of
        the Surviving Company into which one share of CORR Series B Preferred Stock is converted pursuant to such merger, consolidation or combination, determined as of the date of such merger, consolidation or combination.  Any adjustment to the
        Adjustment Factor for the Class A-2 Units shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event.

       

      “Adjustment Factor for the Class A-3 Units” shall mean 1.0 for the Class A-3 Units; provided, however, that in the event that CORR
        (a) declares or pays a dividend on its outstanding CORR Class B Common Stock wholly or partly in such CORR Class B Common Stock, or makes a distribution to all holders of its outstanding CORR Class B Common Stock wholly or partly in CORR Class B
        Common Stock, (b) splits or subdivides its outstanding CORR Class B Common Stock, or (c) effects a reverse stock split or otherwise combines its outstanding CORR Class B Common Stock into a smaller number of CORR Class B Common Stock, the
        Adjustment Factor for the Class A-3 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-3 Units previously in effect by a fraction, the numerator of which shall be the number of CORR Class B Common Stock, issued and
        outstanding on the record date for such dividend, distribution, split, subdivision, reverse split or combination (assuming for such purposes that such dividend, distribution, split, subdivision, reverse split or combination has occurred as of such
        time), and the denominator of which shall be the actual number of CORR Class B Common Stock (determined without the above assumption) issued and outstanding on such date and, provided further, that if CORR
        shall merge, consolidate or combine with any Surviving Company, the Adjustment Factor for the Class A-3 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-3 Units by the number of shares of the Surviving Company into which
        one share of the CORR Class B Common Stock is converted pursuant to such merger, consolidation or combination, determined as of the date of such merger, consolidation or combination.  Any adjustment to the Adjustment

       

      

      
        4

        
          

      

      Factor for the Class A-3 Units shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event.

       

       “Affiliate” (whether or not capitalized) shall mean, with respect to any Person: (a) any other Person directly or indirectly owning, controlling or
        holding power to vote 10% or more of the outstanding voting securities of such Person, (b) any other Person 10% or more of whose outstanding voting securities are directly or indirectly owned, controlled or held with power to vote by such Person,
        (c) any other Person directly or indirectly controlling, controlled by or under common control with such Person, and (d) any officer, director, member, partner or immediate family member of such Person or any other Person described in subsection
        (a), (b) or (c) of this paragraph.

       

      “Agreement” shall have the meaning assigned to such term in the introductory paragraph.

       

      “Alternate CORR Manager” shall have the meaning assigned to such term in Section 5.1(a)(ii).

       

      “Alternate Crimson Manager” shall have the meaning assigned to such term in Section 5.1(a)(i).

       

      “Approved Budget” shall have the meaning assigned to such term in Section 5.9.

       

      “Auditor’s Report” shall mean, with respect to financial statements or information of the Company required to be delivered, (a) the written report of
        the auditor for the Company with respect to such financial statements or information (excluding any auditor’s report on internal controls), manually executed by such auditor, and (b) a manually executed consent of such auditor to the inclusion of
        such auditor’s report (and any auditor consent with respect thereto) in filings to be made by CORR with the Securities and Exchange Commission.

       

      “Board” shall have the meaning assigned to such term in Section 5.1(a).

       

      “Budget Act” shall have the meaning assigned to such term in Section 5.8(a).

       

      “Budgeted Expenses” shall mean the aggregate of the (a) general and administrative expenses (including reasonable overhead expenses), (b) personnel
        and employees costs, (c) planned asset maintenance expenses, and (d) other major categories, in each case that are included in the Approved Budget; provided, that “Budgeted Expenses” does not include
        Non-Discretionary Capital expenses (and for purposes of clarity, costs and expenses contained in any Approved Budget that do not constitute Non-Discretionary Capital expenses shall constitute Budgeted Expenses).

       

      “Business Day” shall mean any day on which banks are generally open to conduct business in the State of Colorado and the State of New York.

       

      “Capital Account” shall have the meaning assigned to such term in Section 8.1(b).

       

      “Capital Contributions” shall mean for any Member at the particular time in question the aggregate of the dollar amounts of any cash, or the Fair
        Market Value of any property, contributed

       

      

      
        5

        
          

      

      to the capital of the Company and its predecessors. The Capital Contributions made (or deemed to have been made) by each of the Members as of the Effective Date are set forth on Exhibit A.

       

      “Capital Members” shall mean all of the Members holding Class C-1 Units.

       

      “Capital Project” shall mean any project, transaction, agreement, arrangement or series of transactions, agreements or arrangements to which the
        Company or a Subsidiary of the Company is a party involving a capital expenditure, including any purchase, lease, acquisition, construction, development or completion of transportation, compression, gathering or related facilities for oil, gas or
        related products or the provision of services, equipment or other property for use in developing, completing or transporting oil, gas or related products or otherwise directly related and ancillary to the oil and gas business, including the
        transportation, storage and handling of water utilized or disposed of in oil and gas production.

       

      “Carrying Value” shall mean with respect to any asset, the value of such asset as reflected in the Capital Accounts of the Members.  The Carrying
        Value of any asset shall be such asset’s adjusted basis for federal income tax purposes, except as follows:

       

      (a)          The initial Carrying Value of any asset contributed by a Member to the Company will be the Fair Market Value of the asset on the date of the contribution (with the
        Fair Market Value of contributions made as of the Effective Date as shown on Exhibit A);

       

      (b)          The Carrying Value of all Company assets shall be adjusted to equal their respective Fair Market Values upon (i) the acquisition of an additional Company Interest by
        any new or existing Member in exchange for a Capital Contribution that is not de minimis; (ii) the distribution by the Company to a Member of Company property that is not de

          minimis as consideration for a Company Interest; (iii) the grant of a Company Interest that is not de minimis consideration for the performance of services to or for the benefit of the Company by
        any new or existing Member; (iv) the liquidation of the Company as provided in Section 9.2; (v) the acquisition of a Company Interest by any new or existing Member upon the exercise of a
        non-compensatory warrant or the making of any Capital Contribution in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(s), as such Treasury Regulation may be amended or modified; or (vi) any other event to the extent determined by the
        Board to be necessary to properly reflect Carrying Values in accordance with the standards set forth in Treasury Regulations Section 1.704-1(b)(2)(iv)(q), provided that any adjustments to the Capital
        Accounts of the Members shall be made as provided in Section 8.1(b)(v).  If any non-compensatory warrants (or similar interests) are outstanding upon the occurrence of an event described in clauses

          (i) through (vi) above, the Company shall adjust the Carrying Values of its properties in accordance with Treasury Regulations Sections 1.704-1(b)(2)(iv)(f)(1) and 1.704-1(b)(2)(iv)(h)(2), as such Treasury Regulations may be amended
        or modified;

       

      (c)          The Carrying Value of any Company asset distributed to any Member shall be adjusted to equal the Fair Market Value of such asset on the date of distribution;

       

      
        6

        
          

      

      (d)          The Carrying Value of an asset shall be adjusted by Depreciation taken into account with respect to such asset for purposes of computing Net Profits, Net Losses and
        other items allocated pursuant to Section 8.1(b)(v); and

       

      (e)          The Carrying Value of Company assets shall be adjusted at such other times as required in the applicable Treasury Regulations.

       

      “Change of Control” shall mean the occurrence of any of the following: (i) the consummation of any transaction (including any merger or
        consolidation) the result of which is that one or more Third Parties (other than a Subsidiary of the Company) become the beneficial owner of more than 50% of the Company Interests; (ii) the direct or indirect sale, transfer, conveyance or other
        disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s assets and the assets of its Subsidiaries, taken as a whole, to one or more Third Parties; provided, however, that none of the circumstances in this clause (ii) shall be a Change of Control if the Persons that beneficially own the Company Interests
        immediately prior to the transaction own, directly or indirectly, equity interests with a majority of the total voting power of all of the issued and outstanding equity interests of the surviving entity or transferee Person immediately after the
        transaction or (iii) the Company consolidates with, or merges with or into, any Third Party or any such Third Party consolidates with, or merges with or into, the Company, in either case, pursuant to a transaction in which any of the Company’s
        issued and outstanding equity interests or the equity interests of such other Third Party is converted into or exchanged for cash, securities or other property, other than pursuant to a transaction in which the Company Interests issued and
        outstanding immediately prior to the transaction constitute, or are converted into or exchanged for, a majority of the equity securities of the surviving Person immediately after giving effect to such transaction; provided, that for the avoidance of doubt neither an IPO nor reorganization of an IPO vehicle for the Company or any of its Subsidiaries shall constitute a Change of Control.

       

      “Class A-1 Member” shall mean a Member holding Class A-1 Units.

       

       “Class A-1 Sharing Ratio” shall mean, with respect to a Class A-1 Member, the number of Class A-1 Units held by such Class A-1 Member divided by the total number of Class A-1 Units outstanding, in each case as of the relevant date of determination. The Class A-1 Sharing Ratios of each Class A-1 Member as of the Effective Date are set forth on
        Exhibit A.

       

      “Class A-1 Units” shall mean that class of Company Interests issued to those Members set forth on Exhibit A in the amounts set forth thereon,
        and to such other Persons after the Effective Date in accordance with this Agreement, representing an interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and
        limitations specified with respect to Class A-1 Units in this Agreement.

       

      “Class A-2 Member” shall mean a Member holding Class A-2 Units.

       

      “Class A-2 Sharing Ratio” shall mean, with respect to a Class A-2 Member, the number of Class A-2 Units held by such Class A-2 Member divided by the total number of Class A-2 Units outstanding, in each case as of the relevant date of determination. The Class A-2 Sharing Ratios of each Class A-2 Member as of the Effective Date are set forth on
        Exhibit A.

       

      
        7

        
          

      

      “Class A-2 Units” shall mean that class of Company Interests issued to those Members set forth on Exhibit A in the amounts set forth thereon,
        and to such other Persons after the Effective Date in accordance with this Agreement, representing an interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and
        limitations specified with respect to Class A-2 Units in this Agreement.

       

      “Class A-3 Member” shall mean a Member holding Class A-3 Units.

       

      “Class A-3 Sharing Ratio” shall mean, with respect to a Class A-3 Member, the number of Class A-3 Units held by such Class A-3 Member divided by the total number of Class A-3 Units outstanding, in each case as of the relevant date of determination. The Class A-3 Sharing Ratios of each Class A-3 Member as of the Effective Date are set forth on
        Exhibit A.

       

      “Class A-3 Units” shall mean that class of Company Interests issued to those Members set forth on Exhibit A in the amounts set forth thereon,
        and to such other Persons after the Effective Date in accordance with this Agreement, representing an interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and
        limitations specified with respect to Class A-3 Units in this Agreement.

       

       “Class B-1 Member” shall mean a Member holding Class B-1 Units.

       

      “Class B-1 Sharing Ratio” shall mean, with respect to a Class B-1 Member, the number of Class B-1 Units held by such Class B-1 Member divided by the total number of Class B-1 Units outstanding, in each case as of the relevant date of determination. The Class B-1 Sharing Ratios of each Class B-1 Member as of the Effective Date are set forth on
        Exhibit A.

       

      “Class B-1 Units” shall mean that class of Company Interests issued to those Members set forth on Exhibit A in the amounts set forth thereon,
        and to such other Persons after the Effective Date in accordance with this Agreement, representing an interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and
        limitations specified with respect to Class B-1 Units in this Agreement.

       

      “Class C-1 Member” shall mean a Member holding Class C-1 Units.

       

      “Class C-1 Units” shall mean that class of Company Interests issued to those Members set forth on Exhibit A in the amounts set forth thereon,
        and to such other Persons after the Effective Date in accordance with this Agreement, having the rights, powers, obligations, restrictions and limitations specified with respect to Class C-1 Units in this Agreement.  For the avoidance of doubt, the
        Class C-1 Units shall only represent Voting Interests, and shall not have a right to any share in the profits, losses or distributions of the Company.

       

      “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and any successor statute or statutes.

       

      “Company Assets” shall mean all of the real and personal property, pipelines, equipment, and other physical assets owned and leased by the Company.

       

      
        8

        
          

      

      “Company Interest” shall mean an ownership interest in the Company held by a Member and includes any and all benefits to which the holder of such a
        Company Interest may be entitled as provided in this Agreement, together with all obligations of such Member to comply with the terms and provisions of this Agreement.  There may be one or more classes or series of Company Interests created
        pursuant to Section 3.2.  The Company Interest may be expressed as a number of Class A-1 Units, Class A-2 Units, Class A-3 Units, Class B-1 Units, Class C-1 Units, or other Units.

       

      “Company Nonrecourse Liabilities” shall mean nonrecourse liabilities (or portions thereof) of the Company for which no Member bears the economic risk
        of loss in accordance with applicable Treasury Regulations.

       

      “Company Record Date” shall, in the case of the distribution of Distributable Funds pursuant to Section 4.3(b), generally be the same as the
        record date established by the CORR Board of Directors for a distribution to its stockholders, including pursuant to Sections 4.3(c)(i) and (ii).

       

      “Company Representative” shall have the meaning assigned to such term in Section 5.8.

       

      “Company Securities” shall have the meaning assigned to such term in Section 3.2(b).

       

      “Compensation Committee” shall have the meaning assigned to such term in Section 5.1(l).

       

      “Confidential Information” shall mean all proprietary and confidential information of the Company, including, without limitation, business
        opportunities of the Company, intellectual property, and any other information heretofore or hereafter acquired, developed or used by the Company relating to its business, including any confidential information contained in any lease files, land
        files, abstracts, title opinions, title or curative matters, contract files, memoranda, notes, records, drawings, correspondence, financial and accounting information, customer lists, statistical data and compilations, shipper information, patents,
        copyrights, trademarks, trade names, inventions, formulae, methods, processes, agreements, contracts, manuals, plats, surveys, geological and geophysical information, operational and production information and land
          information related to customers or potential customers of the Company or any other documents relating to the business of the Company, developed by, or originated by any third party and brought to the attention of, the Company.

       

      “Contributing Member” shall have the meaning assigned to such term in Section 3.3(b)(i).

       

      “CORR Class B Common Stock” shall mean the Class B Common Stock of CORR, $0.001 par value per share, the
        terms of which shall be governed by the CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of Class B Common Stock, the form of which is attached to this Agreement as Exhibit F.

       

      “CORR Class B Common Stock Conversion” shall mean the effective date of the “Mandatory Conversion,” as that term is used in the Articles
        Supplementary for the Class B Common Stock, of the CORR Class B Common Stock into CORR Common Stock.

       

      "CORR Common Stock” shall mean the currently outstanding common
        stock of CORR, $0.001 par value per share.

       

      
        9

        
          

      

      “CORR Managers” shall have the meaning assigned to such term in Section 5.1(a)(ii).

       

      “CORR Purchase Agreement” shall mean that certain Membership Interest Purchase Agreement, dated as of February 4, 2021, by and among CORR, the
        Company, John D. Grier and CGI Crimson Holdings, L.L.C.

       

      “CORR Securities” shall mean the CORR Common Stock, CORR Class B Common Stock, CORR Series B Preferred Stock, and the CORR Series C Preferred Stock.

       

      “CORR Series A Preferred Stock” shall mean the 7.375% Series A Cumulative Redeemable Preferred Stock of CORR, $0.001 par value per share, as to which
        each outstanding whole share is represented by outstanding depositary shares, each representing 1/100th of a whole share, the terms of which shall be governed by the CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and
        Fixing the Rights and Preferences Of Series A Cumulative Reedemable Preferred Stock.

       

      “CORR Series B Dividend Payment Date” shall mean the last calendar day of each February, May, August and November of each year, commencing on
        February 28, 2021.

       

      “CORR Series B Dividend Payment Record Date” shall mean the date designated by the CORR Board of Directors pursuant to Section 4.3(c)(ii) for
        the payment of dividends that is not more than 30 or less than 10 days prior to the applicable CORR Series B Dividend Payment Date.

       

      “CORR Series B Preferred Stock” shall mean the Series B Convertible Preferred Stock of CORR, $0.001 par
        value per share, the terms of which shall be governed by the CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of Series B Redeemable Convertible Preferred Stock, the form of which is
        attached to this Agreement as Exhibit D.

       

      “CORR Series C Dividend Payment Date” shall mean the last calendar day of each February, May, August and November of each year, commencing on
        February 28, 2021.

       

      “CORR Series C Dividend Payment Record Date” shall mean the date designated by the CORR Board of Directors pursuant to Section 4.3(c)(i) for
        the payment of dividends that is not more than 30 or less than 10 days prior to the applicable CORR Series C Dividend Payment Date.

       

      “CORR Series C Preferred Stock” shall mean the Series C Exchangeable Preferred Stock of CORR, $0.001 par
        value per share, the terms of which shall be governed by the CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of 9.00% Series C Exchangeable Preferred Stock, the form of which is
        attached to this Agreement as Exhibit E.

       

      “CORR Transfer” shall have the meaning assigned to such term in Section 12.3(a).

       

      “CPUC Approval” shall mean the approval of the California Public Utility Commission under Section 854 of the California Public Utilities Code,
        respectively, for the (a) the change of control of the Subsidiaries of the Company that are subject to regulation by the California Public Utility Commission (the “CPUC Assets”) from John D. Grier to
        CORR and (b) the change in

       

      

      
        10

        
          

      

      indirect ownership of the CPUC Assets from the Grier Members to CORR that will occur upon either of the following events:  (i) the exchange of the Class A-1 Units, Class A-2 Units, and Class A-3 Units held by the
        Grier Members for the respective CORR Securities, or (ii) a contribution of additional assets by CORR to the Company in exchange for additional Units of the Company.

       

      “Credit Agreement” shall mean that certain Amended and Restated Credit Agreement, dated as of February 4, 2021 (the “Credit Agreement”), by and among
        Crimson Midstream Operating, LLC, a Delaware limited liability company (“Crimson Operating”), Corridor MoGas, Inc., a Delaware corporation (“MoGas”, and together with Crimson Operating, the “Borrowers”, and each, individually, a “Borrower”),
        Crimson Midstream Holdings, LLC, a Delaware limited liability company (“Holdings”),  MoGas Debt Holdco LLC, a Delaware limited liability company (“MoGas HoldCo”), MoGas Pipeline LLC, a Delaware limited liability company (“MoGas Pipeline”),
        CorEnergy Pipeline Company, LLC, a Delaware limited liability company (“CorEnergy Pipeline”), United Property Systems, LLC, a Delaware limited liability company (“United Property”), Crimson Pipeline, LLC, a California limited liability company
        (“Crimson Pipeline”), Cardinal Pipeline, L.P., a California limited partnership (“Cardinal Pipeline”), the lenders party thereto, Wells Fargo Bank, National Association, in its individual capacity and as Administrative Agent (as defined in the
        Credit Agreement) for such lenders party thereto, Swingline Lender (as defined in the Credit Agreement) and Issuing Bank (as defined in the Credit Agreement), and the other parties from time to time party hereto.

       

      “Crimson Managers” shall have the meaning assigned to such term in Section 5.1(a)(i).

       

      “Debt” shall mean, as to the Company and its Subsidiaries, all indebtedness, liabilities and obligations of such Person (excluding deferred taxes)
        whether primary or secondary, direct or indirect, absolute or contingent (a) for borrowed money, (b) constituting an obligation to pay the deferred purchase price of property, (c) evidenced by bonds, debentures, notes or similar instruments, (d)
        arising under futures contracts, swap contracts, commodity hedge agreements or similar speculative agreements, (e) arising under leases serving as a source of financing or otherwise capitalized in accordance with GAAP, (f) arising under conditional
        sales or other title retention agreements, (g) under direct or indirect guaranties of Debt of any Person or constituting obligations to purchase or acquire or to otherwise protect or insure a creditor against loss in respect of indebtedness of any
        Person (such as obligations under working capital maintenance agreements, agreements to keep-well, agreements to purchase Debt, assets, goods, securities or services, or take-or-pay agreements, but excluding endorsements in the ordinary course of
        business of negotiable instruments in the course of collection), (h) with respect to letters of credit or applications or reimbursement agreements therefor, or (i) with respect to payments received in consideration of oil, gas, or other minerals
        yet to be acquired at the time of payment (including obligations under “take-or-pay” contracts to deliver hydrocarbons in return for payments already received and the undischarged balance of any production payment created by such Person or for the
        creation of which such Person directly or indirectly received payment) or with respect to other obligations to deliver goods or services in consideration of advance payments.

       

      “Depreciation” shall mean for each fiscal year or other period, an amount equal to the depreciation, amortization, or other cost recovery deduction
        allowable with respect to an asset for such year or other period, except that (a) if the Carrying Value of an asset differs from its adjusted basis for federal income tax purposes at the beginning of such year or other period and which

      
        

        

        
          11

          
            

        

        difference is being eliminated by use of the “traditional method with curative allocations” pursuant to Treasury Regulations Section 1.704-3(c), with the curative allocations limited to allocations of depreciation
          and amortization, or such other method or methods as determined by Super-Majority Board Approval to be appropriate and in accordance with the applicable Treasury Regulations.  Depreciation for such tax period shall be the amount of book basis
          recovered for such tax period under the rules prescribed by Treasury Regulation Section 1.704-3(c), and (b) with respect to any other property the Carrying Value of which differs from its adjusted tax basis at the beginning of such tax period,
          Depreciation shall be an amount which bears the same ratio to such beginning Carrying Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such year or other tax period bears to such beginning adjusted
          tax basis; provided, that if the adjusted tax basis of any property at the beginning of such tax period is equal to zero dollars ($0.00), in which event Depreciation with respect to such property shall
          be determined under with reference to such beginning value using any reasonable method selected by the Board.

         

        “Designated Business Opportunity” shall mean any business opportunity related to renewable energy, including the production or transportation of
          biodiesel fuels and the gathering of related feedstock.

         

        “Dispute” shall have the meaning assigned to such term in Section 12.10.

         

        “Distributable Funds” shall mean the available cash of the Company in excess of the Liquidity Reserve and other requirements of the Company
          (including, without limitation, current obligations under agreements evidencing Debt, which shall include the Credit Agreement), as determined by the Board acting with Super-Majority Board Approval.

         

        “Draft Budget” shall have the meaning assigned to such term in Section 5.9.

         

        “Emergency” shall mean a sudden or unexpected event that poses an imminent threat to health or property or risk of loss to property or risk of harm
          to the environment.

         

        “Excepted Liens” shall mean (i) liens for taxes, assessments or other governmental charges or levies not yet due or which are being contested in
          good faith by appropriate action and if reserves adequate under GAAP shall have been established therefor; (ii) legal or equitable encumbrances deemed to exist by reason of the existence of any litigation or any other legal proceeding or arising
          out of a judgment or award with respect to which an appeal is being prosecuted in good faith and if reserves adequate under GAAP shall have been established therefor; (iii) vendors’, carriers’, warehousemen’s, repairmen’s, mechanics’, workmen’s,
          materialmen’s construction or other like liens arising by operation of law in the ordinary course of business or incident to the construction or improvement of any property or operator and non-operator liens under joint operating agreements in
          respect of obligations which are not yet due or which are contested in good faith by appropriate proceedings and if reserves adequate under GAAP shall have been established therefor; and (iv) servitudes, easements, restrictions, rights of way and
          other similar rights or liens in real or immovable property or any interest therein; provided, that the same do not materially impair the use of such property for
          the purposes for which it is held.

         

        “Excluded Business Opportunity” shall mean a business opportunity other than a business opportunity:

         

        
          12

          
            

        

        (a)          that (i) has come to the attention of a Person solely in, and as a direct result of, its or his capacity as a director of, advisor to, principal of or employee of
          the Company or a Subsidiary of the Company, or (ii) was developed with the use or benefit of the personnel or assets of the Company, or a Subsidiary of the Company, and

         

        (b)          that has not been previously independently brought to the attention of the subject Person from a source that is not affiliated (other than through such subject
          Person) with the Company or a Subsidiary of the Company.

         

        “Fair Market Value” shall mean a good faith determination made by the Board, acting with Super-Majority Board Approval, of the cash value of
          specified asset(s) that would be obtained in a negotiated, arm’s length transaction between an informed and willing buyer and an informed and willing seller, with such buyer and seller being unaffiliated, neither such party being under any
          compulsion to purchase or sell, and without regard to the particular circumstances of either such party.  A determination of Fair Market Value by the Board shall be final and binding for all purposes of this Agreement and any other relevant
          Transaction Document.

         

        “GAAP” shall mean generally accepted accounting principles as applied in the United States of America in effect from time to time.

         

        “Governmental Authority” shall mean any federal, state, local or foreign government or political subdivision thereof, or any agency or
          instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental authority (to the extent that the rules, regulations or orders of such
          organization or authority have the force of law), or any arbitrator, court or tribunal of competent jurisdiction.

         

        “Grier Companies” shall have the meaning assigned to such term in Section 5.4(a).

         

        “Grier Members” shall have the meaning assigned to such term in the introductory section of this Agreement.

         

         “Grier Trusts” shall have the meaning assigned to such term in the introductory section of this Agreement.

         

        “Indemnitee” shall have the meaning assigned to such term in Section 6.1.

         

        “Indirect Transfer” shall mean (with respect to any Member that is a corporation, partnership, limited liability company or other entity) a deemed
          Transfer of a Company Interest, which shall occur upon any Transfer of the ownership of, or voting rights associated with, the equity or other ownership interests in such Member.

         

        "Initial Resolutions" shall have the meaning assigned to such
          term in Section 5.1(b).

         

        “IPO” shall mean the closing of a public offering of equity securities of the Company or any Subsidiary, registered under the Securities Act.

         

         “JAMS” shall have the meaning assigned to such term in Section 12.10(a).

         

        
          13

          
            

        

        “Liquidity Reserve” shall have the meaning assigned to such term in Section 5.1(k).

         

        “Majority Board Approval” shall mean the approval by the affirmative vote of Managers representing a majority of the outstanding Voting Interests
          whether by vote at a regular or special meeting of the Board or by written proxy.

         

        “Majority Interest” shall mean with respect to the Members, as to any agreement, election, vote or other action of the Members, those Members whose
          combined Voting Interest exceed 50%.

         

         “Manager” and “Managers” shall have the meanings assigned to such terms in Section 5.1(a).

         

        “Member Nonrecourse Debt” shall mean any nonrecourse Debt of the Company for which any Member bears the economic risk of loss in accordance with
          applicable Treasury Regulations.

         

        “Member Nonrecourse Deductions” shall mean the amount of deductions, losses and expenses equal to the net increase during the year in Minimum Gain
          attributable to a Member Nonrecourse Debt, reduced (but not below zero) by proceeds of such Member Nonrecourse Debt distributed during the year to the Members who bear the economic risk of loss for such Debt, as determined in accordance with
          applicable Treasury Regulations.

         

        “Members” shall mean the Persons (including Class A-1 Members, Class A-2 Members, Class A-3 Members, Class B-1 Members and Class C-1 Members) who
          from time to time shall execute a signature page to this Agreement (including by counterpart) as the Members, including any Person who becomes a substituted Member of the Company pursuant to the terms hereof, or joins in this Agreement pursuant
          to a joinder agreement in a form approved by the Board.

         

        “Minimum Gain” shall mean (a) with respect to Company Nonrecourse Liabilities, the amount of gain that would be realized by the Company if the
          Company Transferred (in a taxable transaction) all Company properties that are subject to Company Nonrecourse Liabilities in full satisfaction of Company Nonrecourse Liabilities, computed in accordance with applicable Treasury Regulations, or (b)
          with respect to each Member Nonrecourse Debt, the amount of gain that would be realized by the Company if the Company Transferred (in a taxable transaction) the Company property that is subject to such Member Nonrecourse Debt in full satisfaction
          of such Member Nonrecourse Debt, computed in accordance with applicable Treasury Regulations.

         

        “Net Profit” or “Net Loss” shall mean, with respect to any fiscal year or other fiscal period, the
          net income or net loss of the Company for such period, determined in accordance with federal income tax accounting principles and Code Section 703(a) (including any items that are separately stated for purposes of Code Section 702(a)), with the
          following adjustments:

         

        (a)          any income of the Company that is exempt from federal income tax shall be included as income;

         

        (b)          any expenditures of the Company that are described in Code Section 705(a)(2)(B) or treated as so described pursuant to Treasury Regulations Section
          1.704-1(b)(2)(iv)(i) shall be treated as current expenses;

         

        
          14

          
            

        

        (c)          if Company assets are distributed to the Members in kind, such distributions shall be treated as sales of such assets for cash at their respective Fair Market
          Values in determining Net Profit and Net Loss;

         

        (d)          in the event the Carrying Value of any Company asset is adjusted as provided in this Agreement, the amount of such adjustment shall be taken into account as gain
          or loss upon the Transfer of such asset for purposes of computing Net Profit or Net Loss;

         

        (e)          gain or loss resulting from any Transfer of Company property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by
          reference to the Carrying Value of the property Transferred, notwithstanding that the adjusted tax basis for such property differs from its Carrying Value;

         

        (f)          in lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into
          account Depreciation for such fiscal year or other period; and

         

        (g)          items specially allocated under Section 4.2 shall be excluded.

         

        “Non-Discretionary Capital” shall mean payments required to be made by the Company or any of its Subsidiaries to (a) protect the health and safety
          of Persons from immediate and present harm; (b) safeguard lives or property in connection with the initial response to any emergencies affecting any Company asset; (c) protect the environment from immediate and present harm; (d) make any repairs
          or capital improvements or take other action immediately required in the good faith judgment of the Board in order to avoid a violation of any laws, orders, rules, regulations and other requirements enacted, imposed or enforced by any
          Governmental Authority; (e) to repair, remediate, mitigate and provide reasonable contingencies for leaks or spills and/or any unplanned release of crude oil or other hydrocarbons to the extent such events were not included in the applicable
          Approved Budget; or (f) repair or replace any Company Assets that, if not repaired or replaced, would likely cause an unplanned outage that would likely materially impair the Company Assets or revenues of the Company.

         

        “Nonrecourse Deductions” shall have the meaning assigned to such term in Treasury Regulations Section 1.704-2(b).

         

        “Permitted Transfer” or “Permitted Transferees” shall mean:

         

        (a)          any Transfer of a Company Interest by CORR, (whether voluntarily or by operation of law) to a partner, Affiliate or legal successor of CORR;

         

        (b)          any Transfer of a Company Interest, except for Class C-1 Units, to a Grier Trust;

         

        (c)          any Transfer of a Company Interest, except for Class C-1 Units, by John D. Grier or M. Bridget Grier, in each case, to (i) his or her children or to an entity,
          including a trust, controlled by John D. Grier, in each case, for estate planning purposes, or (ii) an existing Grier Member; and

         

        
          15

          
            

        

        (d)          any Transfer of a Company Interest occurring by operation of law upon the death or disability of a Member who is an individual.

         

        “Person” (whether or not capitalized) shall mean any natural person, corporation, company, limited or general partnership, joint stock company,
          joint venture, association, limited liability company, trust, bank, trust company, business trust or other entity or organization, whether or not a Governmental Authority.

         

        “Preferred Return Per Class A-1 Unit” means, with respect to each Class A-1 Unit outstanding on a specified Company Record Date (related to a CORR
          distribution), an amount initially equal to zero at the Effective Date, and increased cumulatively on each Company Record Date by an amount equal to the product of (i) the cash dividend per share of CORR Series C Preferred Stock declared by CORR
          for holders of CORR Series C Preferred Stock, including pursuant to Section 4.3(c)(i), on such Company Record Date, including any special distributions, multiplied by (ii) the Adjustment Factor for the Class A-1 Units in effect on such
          Company Record Date; provided, however, that, for each Class A-1 Unit, the increase that shall occur in accordance with the foregoing on the first Company Record Date that occurs on or after the Effective
          Date shall be the foregoing product of (i) and (ii) above, multiplied by a fraction, the numerator of which shall be the number of days that such Class A-1 Unit was outstanding up to and including such first Company Record Date, and the
          denominator of which shall be the total number of days in the period from but excluding the immediately preceding Company Record Date to and including such first Company Record Date (related to a CORR distribution).

         

        “Preferred Return Per Class A-2 Unit” means, with respect to each Class A-2 Unit outstanding on a specified Company Record Date (related to a CORR
          distribution), an amount initially equal to zero at the Effective Date, and increased cumulatively on each Company Record Date by an amount equal to the product of (i) the cash dividend per share of CORR Series B Preferred Stock declared by CORR
          for holders of CORR Series B Preferred Stock, including pursuant to Section 4.3(c)(ii), on such Company Record Date, including any special distributions, multiplied by (ii) the Adjustment Factor for the Class A-2 Units in effect on such
          Company Record Date; provided, however, that, for each Class A-2 Unit, the increase that shall occur in accordance with the foregoing on the first Company Record Date that occurs on or after the Effective
          Date shall be the foregoing product of (i) and (ii) above, multiplied by a fraction, the numerator of which shall be the number of days that such Class A-2 Unit was outstanding up to and including such first Company Record Date, and the
          denominator of which shall be the total number of days in the period from but excluding the immediately preceding Company Record Date to and including such first Company Record Date (related to a CORR distribution).

         

        “Preferred Return Per Class A-3 Unit” means, with respect to each Class A-3 Unit outstanding on a specified Company Record Date (related to a CORR
          distribution) occurring prior to a CORR Class B Common Stock Conversion, an amount initially equal to zero at the Effective Date, and increased cumulatively on each Company Record Date by an amount equal to the product of (i) the cash dividend
          per share of CORR Class B Common Stock declared by CORR for holders of CORR Class B Common Stock on such Company Record Date, including any special distributions, multiplied by (ii) the Adjustment Factor for the Class A-3 Units in effect on such
          Company Record Date; provided, however, that, for each Class A-3 Unit, the increase that shall occur in accordance with the foregoing on the first Company Record Date that occurs on or

         

        

        
          16

          
            

        

        after the Effective Date shall be the foregoing product of (i) and (ii) above, multiplied by a fraction, the numerator of which shall be the number of days that such Class A-3 Unit was outstanding up to and
          including such first Company Record Date, and the denominator of which shall be the total number of days in the period from but excluding the immediately preceding Company Record Date to and including such first Company Record Date (related to a
          CORR distribution).  Subsequent to the CORR Class B Common Stock Exchange, clause (i) above shall be deemed to refer to the dividend per share of CORR Common Stock declared by CORR for holders of CORR Common Stock.

         

         “Regulatory Allocations” shall have the meaning assigned to such term in Section 4.2(e).

         

        “Rules” shall have the meaning assigned to such term in Section 12.10(a).

         

        “Securities Act” shall mean the Securities Act of 1933, as amended.

         

        “Sharing Ratio” shall mean, with respect to any Member, the number of Units owned by such Member divided by the total number of Units outstanding as of the relevant date of determination. The Sharing Ratios of the Members as of the Effective Date are set forth in Exhibit A.  The Sharing Ratio of each
          Member shall be adjusted in accordance with Section 3.1(d).

         

        “Subsidiary” or “Subsidiaries” with respect to any Person, any corporation, association,
          partnership, limited liability company, joint venture, or other business or corporate entity, enterprise or organization of which the management is directly or indirectly (through one or more intermediaries) controlled by such Person or 40% or
          more of the equity interests in which is directly or indirectly (through one or more intermediaries) owned by such Person.  Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Company.

         

        “Super-Majority Board Approval” shall mean the approval by an affirmative vote of Board of Managers representing no fewer than eighty-two (82%)
          percent of the outstanding Voting Interests, whether by vote at a regular or special meeting of the Board or by written proxy.

         

        “Tax Adjustment” shall have the meaning assigned to such term in Section 5.8(c).

         

        “Tax Matters Member” shall have the meaning assigned to such term in Section 5.7.

         

        “Third Party” shall mean any Person (other than a Member, the Company and its Subsidiaries, and any transferee receiving Company Interests pursuant
          to a Permitted Transfer).

         

        “Transfer” or any derivation thereof, shall mean any sale, assignment, conveyance, mortgage, pledge, granting of security interest in, or other
          disposition of a Company Interest or any asset of the Company, as the context may require.

         

        “Transfer Agreement” shall have the meaning assigned to such term in Section 12.3(d).

         

        “Transfer Closing” shall have the meaning assigned to such term in Section 12.3(g).

         

        “Transfer Closing Date” shall have the meaning assigned to such term in Section 12.3(g).

         

        
          17

          
            

        

        “Treasury Regulation(s)” shall mean regulations promulgated by the United States Treasury Department under the Code.

         

        “Unit” shall mean a unit of a membership interest in the Company representing, as the context shall require, any Company Interest, as well as any
          other class or series of Units created pursuant to Section 3.2.

         

        “Unrealized Gain” attributable to any item of Company property shall mean, as of any date of determination, the excess, if any, of (a) the Fair
          Market Value of such property as of such date over (b) the Carrying Value of such property as of such date (prior to any adjustment to be made pursuant to Section 8.1(b)(v) as of such date).

         

        “Unrealized Loss” attributable to any item of Company property shall mean, as of any date of determination, the excess, if any, of (a) the Carrying
          Value of such property as of such date (prior to any adjustment to be made pursuant to Section 8.1(b)(v), as of such date) over (b) the Fair Market Value of such property as of such date.

         

        “Voting Interests” shall mean the outstanding Class C-1 Units of the Company.  For the avoidance of doubt, the Class C-1 Units shall be the only
          voting Units of the Company.

         

        Any capitalized term used in this Agreement but not defined in this Section 2.1 shall have the meaning assigned to such term elsewhere in this
          Agreement.

         

        Section 2.2          References and Titles.  All references in this Agreement to
          articles, sections, subsections and other subdivisions refer to corresponding articles, sections, subsections and other subdivisions of this Agreement unless expressly provided otherwise.  Titles appearing at the beginning of any of such
          subdivisions are for convenience only and shall not constitute part of such subdivisions and shall be disregarded in construing the language contained in such subdivisions.  The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder” and words of similar import refer to this
          Agreement as a whole and not to any particular subdivision unless expressly so limited.  Pronouns in masculine, feminine and neuter genders shall be construed to include any other gender, and words in the singular form shall be construed to
          include the plural and vice versa, unless the context otherwise requires.  The word “including” (in its various forms) means including without limitation.

         

        ARTICLE III. CAPITALIZATION

         

        Section 3.1          Classes and Series of Company Interests.

         

        (a)          As of the Effective Date, the Company Interests shall consist of five classes of Company Interests, designated as “Class
          A-1 Units,” “Class A-2 Units,” “Class A-3 Units,” “Class B-1 Units” and “Class C-1 Units.”  Each class of Company Interests shall have the rights, powers, obligations, restrictions and limitations accorded such class as are set forth in this
          Agreement.  Neither the Units previously issued, nor the Units issued hereunder shall be certificated unless otherwise determined by the Board.  As of the Effective Date,  a total of 1,613,202.0 Class A-1 Units, 2,436,000.0 Class A-2 Units, and
          2,450,142.5 Class A-3 Units are hereby authorized for issuance, a total of 10,000 Class B-1 Units are hereby authorized for issuance, and a total of 1,000,000 Class C-1 Units are

         

        

        
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        hereby authorized for issuance.  A Member may own one or more classes or series of Units, and the ownership of one class or series of Units shall not affect the rights, privileges, preferences or
          obligations of a Member with respect to the other class or series of Units owned by such Member.  Any reference herein to a holder of a class of Units shall be deemed to refer to such holder only to the extent of such holder’s ownership of such
          class or series of Units.  Notwithstanding anything to the contrary in this Agreement, any Units issued to CORR subsequent to the date hereof shall be Class B-1 Units, and any Units acquired by CORR or any Affiliate of CORR from any Grier Member,
          shall automatically be converted to a Class B-1 Unit.

         

        (b)          On the Effective Date, the Company issued:

         

        (i)          1,652,000 Class A-1 Units in the aggregate to the Grier Members as set forth in consideration for the conversion and
          retirement of certain of the prior Class C Units issued under the Prior Agreement held by the Grier Members on the Effective Date, which for the purposes of this Agreement, shall be deemed to have a Fair Market Value in an amount equal to
          $41,300,000;

         

        (ii)         2,436,000 Class A-2 Units in the aggregate to the Grier Members as set forth in consideration for the conversion and
          retirement of certain of the prior Class C Units issued under the Prior Agreement held by the Grier Members on the Effective Date, which for the purposes of this Agreement, shall be deemed to have a Fair Market Value in an amount equal to
          $60,900,000;

         

        (iii)        2,450,000 Class A-3 Units in the aggregate to the Grier Members as set forth on Exhibit A in consideration for the
          conversion and retirement of certain of the prior Class C Units issued under the Prior Agreement held by the Grier Members on the Effective Date, which for the purposes of this Agreement, shall be deemed to have a Fair Market Value in an amount
          equal to $17,200,000;

         

        (iv)         10,000 Class B-1 Units to CORR, and which, for the purposes of this Agreement, shall have a Fair Market Value in an
          amount equal to $117,000,000;

         

        (v)          505,000 Class C-1 Units in the aggregate to the Grier Members as set forth on Exhibit A, and which, for the purposes of
          this Agreement, shall represent 50.5% of the Voting Interests of the Company; and

         

        (vi)         495,000 Class C-1 Units to CORR, and which, for the purposes of this Agreement, shall represent 49.5% of the Voting
          Interests of the Company.

         

        (c)          Additional Persons may be admitted to the Company as new Members only as provided in this Agreement.

         

        (d)         As of the Effective Date, the Class A-1 Units, Class A-2 Units, Class A-3 Units, Class B-1 Units and Class C-1 Units, and
          the respective Sharing Ratios, Class A-1 Sharing Ratios, Class A-2 Sharing Ratios, Class A-3 Sharing Ratios, and Class B-1 Sharing Ratios held by each Member are set forth on Exhibit A attached hereto.  Exhibit A shall be

         

        

        
          19

          
            

        

        amended by the Board from time to time to reflect changes and adjustments resulting from (i) the admission of any new Member, (ii) any Transfer in accordance with this Agreement, and/or (iii) any
          Capital Contributions made or additional Company Interests issued, in each case as permitted by this Agreement (provided, that a failure to reflect such change or
          adjustment on Exhibit A shall not prevent any otherwise valid change or adjustment from being effective).  Any reference in this Agreement to Exhibit A shall be deemed a reference to Exhibit A as amended in accordance with
          this Section 3.1(d) and in effect from time to time.

         

        Section 3.2          Issuances of Additional Securities.

         

        (a)          The Company may issue additional Company Interests, or classes or series thereof, or options, rights, warrants or
          appreciation rights relating thereto, or instruments convertible into Company Interests, or any other type of equity security that the Company may lawfully issue (“Additional Equity Securities”)
          with the approval of the Board, acting with Super-Majority Board Approval.

         

        (b)        The Board, acting with Super-Majority Board Approval, is hereby authorized to cause the Company and/or its Subsidiaries to
          issue any unsecured or secured Debt obligations of the Company (collectively with the Additional Equity Securities, ”Company Securities”).

         

        (c)         Additional Equity Securities may be issuable in one or more classes, or one or more series of any of such classes, with
          such designations, preferences and relative, participating, optional or other special rights, powers, and duties, including rights, powers and duties senior to existing classes and series of Company Securities, all as shall be fixed by the Board,
          acting with Super-Majority Board Approval, in the exercise of its sole and complete discretion, subject to Delaware law and the terms of this Agreement, including (i) the allocations of items of Company income, gain, loss and deduction to each
          such class or series of Company Securities; (ii) the right of each such class or series of Company Securities to share in Company distributions; (iii) the rights of each such class or series of Company Securities upon dissolution and liquidation
          of the Company; (iv) whether such class or series of additional Company Securities is redeemable by the Company and, if so, the price at which, and the terms and conditions upon which, such class or series of additional Company Securities may be
          redeemed by the Company; (v) whether such class or series of additional Company Securities is issued with the privilege of conversion and, if so, the rate at which, and the terms and conditions upon which, such class or series of Company
          Securities may be converted into any other class or series of Company Securities; (vi) the terms and conditions upon which each such class or series of Company Securities will be issued and assigned or Transferred; and (vii) the right, if any, of
          each such class or series of Company Securities to vote on Company matters, including matters relating to the relative rights, preferences and privileges of each such class or series.

         

        (d)          Company Securities may be issued to such Persons for such consideration and on such terms and conditions as shall be
          established by the Board, acting with Super-Majority Board Approval, in its sole discretion, and the Board, acting with Super-Majority Board Approval, shall have sole discretion, subject to the guidelines set forth in this Section

         

            

        
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        3.2 and the requirements of the Act, in determining the consideration and terms and conditions with respect to any future issuance of Company Securities.

         

        (e)          The Board is hereby authorized and directed to take all actions that it deems appropriate or necessary in connection with
          each issuance of Company Securities pursuant to this Section 3.2 and to amend this Agreement in any manner which it deems appropriate or necessary without the joinder of any Member to provide
          for each such issuance, to admit additional Members in connection therewith and to specify the relative rights, powers and duties of the holders of the Company Securities being so issued.  The Board shall do all things necessary to comply with
          the Act and is authorized and directed to do all things it deems to be necessary or advisable in connection with any future issuance of Company Securities, including compliance with any statute, rule, regulation or guideline of any federal, state
          or other governmental agency.

         

        Section 3.3          Capital Contributions.

         

        (a)          No Member shall be required to make any Capital Contributions to the Company, and such Members shall have the right to
          make Capital Contributions as set forth in this Section 3.3 or as otherwise agreed to in writing by such Member.

         

        (b)          Capital Calls

         

        (i)          After the Effective Date, the CORR Managers, may, in their sole discretion, determine that additional Capital
          Contributions are necessary for the conduct of the Company’s business (any such additional Capital Contributions called from the Capital Members by the Board, being hereinafter referred to as an “Additional
              Call Amount”).  In connection with determining that an Additional Call Amount is necessary, the CORR Managers shall (A) issue Class B-1 Units (the “Additional Call Units”) to the
          Capital Members in the event such Capital Members actually fund Capital Contributions in respect of such Additional Call Amount (the “Contributing Members”) and (B) determine the Fair Market Value
          of each Class B-1 Unit of such Additional Call Units (the “Additional Call Unit FMV”).  Grier shall have the right to acquire such Additional Call Units in an amount equal to (i) the number of
          Additional Call Units offered multiplied by (ii) a fraction (A) the numerator of which is the number of Class C-1 Units held by Grier and (B) the denominator of which is the number of Class C-1 Units held by all Members (for each Capital Member,
          the “Class C-1 Ratio”).  Should Grier desire to exercise such right, Grier shall give notice thereof to the Company within thirty (30) days following receipt of a notice from the Company of its
          intent to issue Additional Call Units (a “Preemptive Right Response”).  Absent receipt of a Preemptive Right Response from Grier within such 30-day period, the Company shall be entitled to assume
          that such Member has elected not to exercise its rights under this Section 3.3.

         

        (ii)        Upon the funding of any Capital Contribution by a Contributing Member, such Contributing Member shall be issued a number
          of Additional Call Units equal to the amount of the Capital Contribution made by such Member

         

        

        
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        divided by a price per Additional Call Unit equal to the Additional Call Unit FMV.  Exhibit A and the books and records of the Company shall be thereafter amended accordingly to
          reflect the funding of any Capital Contributions by a Contributing Member and the issuance of any Units in connection therewith, including any upward or downward adjustments to the Sharing Ratios of the Members in the event a Member does not
          elect to make a Capital Contribution and a Contributing Member increases its Capital Contribution amount in accordance with Section 3.3(b)(i).

         

        Section 3.4          Return of Contributions.  No interest shall accrue on any
          contributions to the capital of the Company, and no Member shall have the right to withdraw or to be repaid any capital contributed by such Member except as otherwise specifically provided in this Agreement.

         

        ARTICLE IV. ALLOCATIONS AND DISTRIBUTIONS

         

        Section 4.1          Allocations of Net Profits and Net Losses.  After giving effect to
          the allocations under Section 4.2, the Members shall share Company Net Profits and Net Losses and all related items of income, gain, loss, deduction and credit for federal income tax purposes
          as follows:

         

        (a)          Net Profits and Net Losses for each fiscal year shall be allocated among the Members in such manner as shall cause the
          Capital Accounts of each Member to equal, as nearly as possible, (i) the amount such Member would receive if all assets on hand at the end of such year were sold for cash at the Carrying Values of such assets, all liabilities were satisfied in
          cash in accordance with their terms (limited in the case of Member Nonrecourse Debt and Company Nonrecourse Liabilities to the Carrying Value of the assets securing such liabilities), and any remaining or resulting cash was distributed to the
          Members under Section 4.3(b), minus (ii) an amount equal to such Member’s allocable share of Minimum Gain as computed immediately prior to the deemed sale in
          clause (i) above in accordance with the applicable Treasury Regulations.

         

        (b)          The Board shall make the foregoing allocations as of the last day of each fiscal year; provided,

            however, that if during any fiscal year of the Company there is a change in any Member’s Company Interest, the Board shall make the foregoing allocations as of the date of each such change in a manner which takes into account the varying
          interests of the Members and in a manner the Board reasonably deems appropriate.

         

        Section 4.2          Special Allocations.

         

        (a)          Notwithstanding any of the provisions of Section 4.1 to the
          contrary:

         

        (i)         If during any fiscal year of the Company there is a net increase in Minimum Gain attributable to a Member Nonrecourse Debt
          that gives rise to Member Nonrecourse Deductions, each Member bearing the economic risk of loss for such Member Nonrecourse Debt shall be allocated items of Company deductions and losses for such year (consisting first of cost recovery or
          depreciation deductions with respect to property that is subject to such Member Nonrecourse Debt and then, if necessary, a pro-rata portion of the Company’s other items of

         

        

        
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        deductions and losses, with any remainder being treated as an increase in Minimum Gain attributable to Member Nonrecourse Debt in the subsequent year) equal to such Member’s share of Member
          Nonrecourse Deductions, as determined in accordance with applicable Treasury Regulations.

         

        (ii)          If for any fiscal year of the Company there is a net decrease in Minimum Gain attributable to Company Nonrecourse
          Liabilities, each Member shall be allocated items of Company income and gain for such year (consisting first of gain recognized from the Transfer of Company property subject to one or more Company Nonrecourse Liabilities and then, if necessary, a
          pro-rata portion of the Company’s other items of income and gain, and if necessary, for subsequent years) equal to such Member’s share of such net decrease (except to the extent such Member’s share of such net decrease is caused by a change in
          debt structure with such Member commencing to bear the economic risk of loss as to all or part of any Company Nonrecourse Liability or by such Member contributing capital to the Company that the Company uses to repay a Company Nonrecourse
          Liability), as determined in accordance with applicable Treasury Regulations.  Nonrecourse Deductions shall be allocated to the Members in accordance with their respective Sharing Ratios to the extent permitted by the Treasury Regulations.

         

        (iii)        If for any fiscal year of the Company there is a net decrease in Minimum Gain attributable to a Member Nonrecourse Debt,
          each Member bearing the economic risk of loss for such Member Nonrecourse Debt shall be allocated items of Company income and gain for such year (consisting first of gain recognized from the Transfer of Company property subject to Member
          Nonrecourse Debt, and then, if necessary, a pro-rata portion of the Company’s other items of income and gain, and if necessary, for subsequent years) equal to such Member’s share of such net decrease (except to the extent such Member’s share of
          such net decrease is caused by a change in debt structure such that the Member Nonrecourse Debt becomes partially or wholly a Company Nonrecourse Liability or by the Company’s use of capital contributed by such Member to repay the Member
          Nonrecourse Debt) as determined in accordance with applicable Treasury Regulations.

         

        (b)         The Net Losses allocated pursuant to this Article IV shall not exceed
          the maximum amount of Net Losses that can be allocated to a Member without causing or increasing a deficit balance in the Member’s Adjusted Capital Account balance.  All Net Losses in excess of the limitations set forth in this Section 4.2(b) shall be allocated to Members with positive Adjusted Capital Account balances remaining at such time in proportion to such positive balances.

         

        (c)          In the event that a Member unexpectedly receives any adjustment, allocation or distribution described in Treasury
          Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6) that causes or increases a deficit balance in such Member’s Adjusted Capital Account, items of Company income and gain shall be allocated to that Member in an amount and manner sufficient to
          eliminate the deficit balance as quickly as possible.

         

        
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        (d)          In the event that any Member has a deficit balance in its Adjusted Capital Account at the end of any allocation period,
          such Member shall be allocated items of Company gross income and gain in the amount of such deficit as quickly as possible; provided, that an allocation pursuant to this Section

            4.2(d) shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account after all other allocations provided for in this Article IV
          have been tentatively made as if Section 4.2(c) and this Section 4.2(d) were not in this Agreement.

         

        (e)          If, as a result of an exercise of a non-compensatory warrant, a Capital Account reallocation is required under Treasury
          Regulations Section 1.704-1(b)(2)(iv)(s)(3) (as such Treasury Regulations may be amended or modified), the Company shall make corrective allocations pursuant to Proposed Treasury Regulations Section 1.704-1(b)(4)(x), as such Treasury Regulations
          may be amended or modified.

         

        (f)          The allocations set forth in subsections (a) through (e) of this Section 4.2
          (collectively, the ”Regulatory Allocations”) are intended to comply with certain requirements of the Treasury Regulations.  It is the intent of the Members that, to the extent possible, all
          Regulatory Allocations that are made be offset either with other Regulatory Allocations or with special allocations pursuant to this Section 4.2(f).  Therefore, notwithstanding any other
          provisions of this Article IV (other than the Regulatory Allocations), the Board shall make such offsetting special allocations in whatever manner it determines appropriate so that, after such
          offsetting allocations are made, the net amount of allocations to each Member is, to the extent possible, equal to the amount such Member would have been allocated if the Regulatory Allocations were not part of the Agreement and all Company items
          were allocated pursuant to Section 4.1 and the remaining subsections of this Section 4.2.

         

        (g)          In the event Units are issued to a Person and the issuance of such Units results in items of income or deduction to the
          Company, such items of income or deduction shall be allocated to the Members in proportion to the positive balances in their Capital Accounts immediately before the issuance of such Units.

         

        Section 4.3          Distributions.

         

        (a)          The Company shall distribute Distributable Funds in accordance with Section 4.3(b)
          unless the Board, acting with Super-Majority Board Approval, determines otherwise.

         

        (b)         Subject to Section 4.3(a), at such times and in such amounts as are contemplated in the Budget and to the extent
          consistent (and to the extent commercially reasonable) with the distribution expectations set forth in the Initial Resolutions, the Company shall, unless the Board acting with Super-Majority Board Approval, determines otherwise, distribute
          Distributable Funds as follows, to the Members as of any Company Record Date:

         

        (i)          First, to the Class A-1 Members, in accordance with each such Member’s Preferred Return Per Class A-1 Unit with respect
          to all Class A-1 Units

         

        

        
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        held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class A-1 Units pursuant to this Section 4.3(b)(i);

         

        (ii)         Second, to the Class A-2 Members, in accordance with each such Member’s Preferred Return Per Class A-2 Unit with respect
          to all Class A-2 Units held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class A-2 Units pursuant to this Section 4.3(b)(ii);

         

        (iii)        Third, to the Class A-3 Members, in accordance with each such Member’s Preferred Return Per Class A-3 Unit with respect
          to all Class A-3 Units held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class A-3 Units pursuant to this Section 4.3(b)(iii);and

         

        (iv)         Fourth, to the Class B-1 Members, the remainder of the Distributable Funds.

         

        (c)          Notwithstanding any provision to the contrary contained in this Agreement, for any quarter in which there are no shares
          of either CORR Series B Preferred Stock or CORR Series C Preferred Stock issued and outstanding, the following shall apply:

         

        (i)          If no shares of CORR Series C Preferred Stock are issued and outstanding on a CORR Series C Dividend Payment Date,
          subject to the preferential rights of the holders of any class or series of equity securities of CORR ranking senior to the CORR Series C Preferred Stock (if the CORR Series C Preferred Stock were outstanding) as to dividends, the CORR Board of
          Directors shall consider whether the CORR Board of Directors would declare cash dividends at the rate of 9.00% per annum of the $25.00 liquidation preference per share of the CORR Series C Preferred Stock, out of funds legally available to CORR
          for the payment of such dividends, if shares of such CORR Series C Preferred Stock were outstanding.  If the CORR Board of Directors authorizes and CORR declares that a dividend would have been paid on the Series C Dividend Payment Date if such
          CORR Series C Preferred Stock were outstanding, the CORR Board of Directors shall designate the date that would have been the CORR Series C Dividend Record Date.  For purposes of this Agreement and determining a Class A-1 Member’s Preferred
          Return Per Class A-1 Unit only, such date shall be considered a record date established by the CORR Board of Directors and such declaration shall be considered a cash dividend per share of CORR for holders of CORR Series C Preferred Stock.

         

        (ii)         If no shares of CORR Series B Preferred Stock are issued and outstanding on a CORR Series B Dividend Payment Date,
          subject to the preferential rights of the holders of any class or series of equity securities of CORR ranking senior to the CORR Series B Preferred Stock (if the CORR Series B Preferred Stock were outstanding) as to dividends, the CORR Board of
          Directors shall consider whether the CORR Board of Directors would declare cash dividends at the rate of 4.00% or 11.00% (if applicable) per annum, pursuant to the terms of the Articles Supplementary for the CORR Series B Preferred Stock of the
          $25.00 liquidation preference per share of the CORR Series B Preferred Stock, out of funds legally

         

        

        
          25

          
            

        

        available to CORR for the payment of such dividends, if shares of such CORR Series B Preferred Stock were outstanding.  If the CORR Board of Directors authorizes and CORR declares that a dividend
          would have been paid on the CORR Series B Dividend Payment Date if such CORR Series B Preferred Stock were outstanding, the CORR Board of Directors shall designate the date that would have been the CORR Series B Dividend Record Date.  For
          purposes of this Agreement and determining a Class A-2 Member’s Preferred Return Per Class A-2 Unit only, such date shall be considered a record date established by the CORR Board of Directors and such declaration shall be considered a cash
          dividend per share of CORR for holders of CORR Series B Preferred Stock.

         

        (iii)        No dividends on the CORR Series B Preferred Stock or CORR Series C Preferred Stock will be deemed to have been declared
          or paid or set apart for payment by CORR pursuant to Sections 4.3(c)(i) and (ii) at such time as the terms and provisions of any agreement of CORR, including any agreement relating to its indebtedness, prohibits such declaration, payment
          or setting apart for payment or provides that such declaration, payment or setting apart for payment would constitute a breach thereof or a default thereunder, or if such declaration, or payment or setting apart for payment would be restricted or
          prohibited by law if such CORR Series B Preferred Stock or CORR Series C Preferred Stock were outstanding.

         

        (iv)        Further, the deemed declarations made by the CORR Board of Directors pursuant to Sections 4.3(c)(i) and (ii) shall
          be subject to Section 9 (relating to “Ranking”) of the form of Articles Supplementary for each of the CORR Series B Preferred Stock or CORR Series C Preferred Stock as if such CORR Series B Preferred Stock or CORR Series C Preferred Stock were
          outstanding.

         

        (d)          Notwithstanding any provision to the contrary contained in this Agreement, neither the Company nor the Board, on behalf
          of the Company, shall make a distribution to any Member if such distribution would violate the Act or other applicable law.

         

        Section 4.4          Income Tax Allocations.

         

        (a)          Except as provided in this Section 4.4, each item of income, gain,
          loss and deduction of the Company for federal income tax purposes shall be allocated among the Members in the same manner as such items are allocated for Capital Account purposes under Section 4.1
          and Section 4.2.

         

        (b)          The Members recognize that with respect to Adjusted Property, there will be a difference between the Carrying Value of
          such property at the time of contribution or revaluation and the adjusted tax basis of such property at the time.  All items of tax depreciation, cost recovery, amortization, amount realized and gain or loss with respect to such Adjusted Property
          shall be allocated among the Members to take into account the disparities between the Carrying Values and the adjusted tax basis with respect to such properties in accordance with the provisions of Code Sections 704(b) and 704(c) and the

         

        

        
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        Treasury Regulations under those sections; provided, however, that any tax items not required to be allocated under Code Sections 704(b) or 704(c) shall
          be allocated in the same manner as such gain or loss would be allocated for Capital Account purposes under Section 4.1 and Section 4.2.
          In making such allocations under Code Section 704(c), income, gain deduction and loss with respect to Company property having a Carrying Value that differs from such property’s adjusted federal income tax basis shall, solely for federal income
          tax purposes, be allocated among the Members in order to account for any such difference using the “traditional method with curative allocations” pursuant to Treasury Regulations Section 1.704-3(c), with the curative allocations limited to
          allocations of depreciation and amortization, or such other method or methods as determined by Super-Majority Board Approval to be appropriate and in accordance with the applicable Treasury Regulations.

         

        (c)          All recapture of income tax deductions resulting from the Transfer of Company property shall, to the maximum extent
          possible, be allocated to the Member to whom the deduction that gave rise to such recapture was allocated hereunder to the extent that such Member is allocated any gain from the Transfer of such property (taking into account the effect of
          curative allocations).  For this purpose, deductions that were allocated as a component of Net Profit or Net Loss shall be treated as if allocated in the same manner as the allocation of the related Net Profit or Net Loss.

         

        

        ARTICLE V. MANAGEMENT AND RELATED MATTERS

         

        Section 5.1          Power and Authority of Board.

         

        (a)          The Company shall be managed by a board of managers (the “Board”)
          consisting of four managers (each, a “Manager” and collectively, the “Managers”).  Managers need not be Members.

         

        (i)          The Grier Members shall appoint two Managers (the “Crimson Managers”),
          and the Grier Members may remove and replace either or both Crimson Managers for any reason or no reason at any time and from time to time.  The Grier Members shall have the right to designate one (1) person to represent each Crimson Manager at
          any Board meeting at which such Crimson Manager is unable to attend (each, an “Alternate Crimson Manager” and collectively, the “Alternate Crimson Managers”).  The initial Crimson Managers are John D. Grier and Larry W. Alexander.

         

        (ii)          CORR shall appoint two Managers (the “CORR Managers”) and may remove and
          replace either or both CORR Managers for any reason or no reason at any time and from time to time.  CORR shall have the right to designate one (1) person to represent each CORR Manager at any Board meeting at which such CORR Manager is unable to
          attend (each, an “Alternate CORR Manager” and collectively, the “Alternate CORR Managers”).  The initial CORR Managers are David J. Schulte and Todd
          Banks.

         

        
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        (iii)         The term “Manager” shall also refer to any Alternate Crimson Manager or
          Alternate CORR Manager that is actually performing the duties of the applicable Manager in lieu of that Manager.

         

        (iv)         Each of CORR and the Grier Members shall have the right, but not the obligation, to transfer their right to appoint Board
          managers as provided in Section 5.1(a)(i) and (ii) hereof to any Person to whom CORR, on the one hand, or the Grier Members, on the other hand, Transfers all of the Company Interests held by such Person or Persons in accordance
          with the terms of this Agreement.

         

        (b)        Except as otherwise expressly provided in this Agreement, all management powers over the business and affairs of the
          Company shall be exclusively vested in the Board, and the Members shall have no right of control over the business and affairs of the Company.  In addition to the powers now or hereafter granted to the Managers under the Act or which are granted
          to the Board under any other provision of this Agreement, the Board shall have full power and authority to do all things deemed necessary or desirable by it to conduct the business of the Company in the name of the Company. At their initial
          meeting, the CORR Managers and the Crimson Managers shall adopt the resolutions attached hereto as Exhibit G (the “Initial Resolutions”), and the Initial Resolutions shall guide the work of
          the Managers at all times that this Agreement remains effective.

         

        (c)         Each Manager serving on the Board shall have voting power equal to one half of the Voting Interests held at the time of
          such vote by the Member who appointed such Manager.  Except as otherwise provided expressly provided in paragraphs (d), (e), and (l) below, the business of the Company presented at any meeting of the Board (and all matters subject to “approval of
          the Board” and the like hereunder) shall be decided by Majority Board Approval.

         

        (d)         Notwithstanding paragraph (c) above but subject to paragraphs (e), and (l) below, the Company (and the officers,
          employees, and agents acting on behalf of the Company) shall not, either acting on its own behalf or when acting as controlling equity-holder of any of its Subsidiaries (and the officers, employees, and agents acting on the Company’s behalf in
          such capacity) shall not permit such Subsidiaries to, do any of the things described in clauses (i) - (xxix) below without Super-Majority Board Approval (it being acknowledged that the below items are not intended to be an
          exclusive statement of all of the other actions of the Board that require Majority Board Approval or approval of the Members, and such provisions are in addition to any and all other requirements imposed by other provisions of this Agreement):

         

        (i)         adopt or amend any Approved Budget, or incur expenses or disburse funds for any of such purposes prior to the adoption of
          such Approved Budget by the Managers as required hereby (except for any actions that the Crimson Managers, in their reasonable discretion, deem necessary or appropriate in the case of an Emergency; provided,
          that the Crimson Managers shall notify the CORR Managers within 48 hours of the occurrence of any Emergency and shall provide a written report to the CORR Managers with respect thereto as soon as
          practicable of the occurrence of such Emergency setting forth the nature of the Emergency, the

         

        

        
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        corrective action taken or proposed to be taken, and the actual or estimated cost and expense associated with such corrective action) or revise, rescind, or violate the Initial Resolutions;

         

        (ii)         approve, grant or enter into an agreement or arrangements for any payment or grant of, annual compensation or benefits to
          officers or other executive employees of the Company or any of its Subsidiaries or the payment of any severance amounts upon termination of such officers or employees, including entering into employment agreements, severance agreements, adopting
          stock option plans or employee benefit plans, or granting options or benefits to any such Persons under any existing plans;

         

        (iii)        except with respect to Non-Discretionary Capital, the incurrence of any additional expenditures exceeding the total
          amount of expenditures (on an annual basis) set forth in the Approved Budget by more than ten percent (10%); provided, the Board will notify the Members no less than forty-five (45) days after the end of
          each quarter during such period that, after taking into account the actual year-to-date Budgeted Expenses incurred by the Company at the end of such quarters, it is reasonably projected that the Budgeted Expenses for the remainder of such period
          will exceed the budgeted amount for all such expenses set forth in the Approved Budget;

         

        (iv)         unless, previously approved in an Approved Budget, enter into any agreements or other arrangements with respect to, or
          make any payments, incur any expenses or disburse any funds for:

         

        (A)        any Capital Project, the completion or full capitalization of which can reasonably be expected to require the Company or
          any of its Subsidiaries to (i) expend, in the aggregate, in excess of $5,000,000 or (ii) issue a capital call to existing Members or issue equity to any third party; or

         

        (B)          to the extent not otherwise subject to approval under the preceding clause (A), the acquisition, directly or
          indirectly, of any assets or securities of any Person with an aggregate purchase price in excess of $5,000,000;

         

        (v)         approve, agree or consent to or make or enter into any agreement, transaction or take any other action the effect of which
          is to cause, any fundamental change in the scope or purpose of the business of the Company or any of its Subsidiaries, including the following: (A) any material change in the Company’s or any of its Subsidiaries’ operating strategies or in the
          geographic locations or methods of conducting their respective businesses; (B) any merger or consolidation or amalgamation, or liquidation, winding-up or dissolution, or Transfer of, in one transaction or a series of transactions, all or any
          material part of their respective businesses or assets, whether now owned or hereafter acquired; (C) the institution of proceedings to be adjudicated a bankrupt or insolvent, or the consent to the

         

        

        
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        institution of bankruptcy or insolvency proceedings or the filing of a petition or consent to a petition seeking reorganization or relief under any applicable federal or state law relating to
          bankruptcy, or the consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official, or an assignment for the benefit of creditors, or, except as may be required by any fiduciary obligation of the
          Board or as may be required by applicable law, the admission in writing of inability to pay debts generally as they become due, or any corporate action in furtherance of any such action; or (D) any voluntary withdrawal as a general partner or
          relinquishment of rights as a controlling equity-holder of any Subsidiary;

         

        (vi)        issue any Company Interest, Company Security or any equity or debt interest in any of its Subsidiaries (or admit any new
          Members in the Company or equity owners of any Subsidiaries), other than repurchase any Company Interest, Company Security or any equity or debt interest in any of its Subsidiaries;

         

        (vii)       incur, create, authorize, issue, assume or suffer to exist any Debt or any liens related thereto, or authorize or permit
          any amendment, modification or change, or waiver of any right under, or voluntarily fail to perform obligations under (when the means for such performance is available), any agreement pertaining to such Debt, except: (A) Debt which is set forth
          in an Approved Budget; (B) Debt consisting of loans or advances among the Company and its Subsidiaries; (C) Excepted Liens; or (D) other Debt not to exceed $1,500,000 in any one transaction or series of related transactions;

         

        (viii)     enter into any transaction (including any purchase, sale, lease or exchange of property or assets or the rendering of any
          service) with any Member, any Affiliate of any Member, or any Affiliate of any officer or employee of the Company or any Subsidiary, or modify the terms of any prior transaction with any such Member or Affiliate (it being acknowledged that the
          Board will not approve any such transaction unless the terms thereof are no less favorable to the Company, or such Subsidiary, as the case may be, than would be obtained in a comparable arm’s-length transaction with unaffiliated Persons) other
          than such transactions as are expressly contemplated by this Agreement;

         

        (ix)        sell, lease or Transfer to any third-party, directly or indirectly, any assets in any one transaction or series of related
          transactions with expected proceeds to the Company in excess of $5,000,000, other than sales of products and services in the ordinary course of business;

         

        (x)        enter into or modify in any material respect any (A) hedge, swap, futures, option, or other derivative transactions or
          contracts, (B) long-term supply or purchase contracts involving consideration in excess of $2,500,000, or (C) “keep whole” commitments;

         

        (xi)       adopt or change accountants (from those selected by CORR) or accounting policies other than as necessary for such policies
          to be consistent with

         

        

        
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        GAAP and Regulation S-X of the Securities Act or to preserve CORR’s real estate investment trust qualification;

         

        (xii)        determine the amount of Distributable Funds, the amount of the Liquidity Reserve or make any distributions of
          Distributable Funds (including pursuant to Section 4.3(b));

         

        (xiii)       file or settle any litigation, mediation or arbitration in which payments are expected to exceed $2,500,000;

         

        (xiv)       remove the Tax Matters Member pursuant to Section 5.7 or Company Representative pursuant to Section 5.8;

         

        (xv)        the adoption of any voluntary change in the tax classification for federal income tax purposes of the Company or any of
          its Subsidiaries;

         

        (xvi)       adjust the Members’ Capital Accounts to reflect a revaluation of the Company’s properties on its books upon the occurrence
          of an event specified in Treasury Regulations Section 1.704-1(b)(2)(iv)(f) pursuant to Section 8.1(v);

         

        (xvii)      dissolve the Company pursuant to Section 9.1(b);

         

        (xviii)     permit the liquidator to distribute one or more properties in kind pursuant to Section 9.2(b);

         

        (xix)       permit any Transfer of a Company Interest except as may be permitted by Section 10.1(a);

         

        (xx)        accept any substituted Member pursuant to Section 10.1(d);

         

        (xxi)       determine Fair Market Value;

         

        (xxii)      enter into or modify in any material respect any material contract that provides revenue to the Company in excess of
          $10,000,000;

         

        (xxiii)     approve an IPO of any Company Interests or any equity interests of a Company Subsidiary;

         

        (xxiv)     commence any act that would constitute a Change of Control under this Agreement or a “change of control” as otherwise
          defined in any of the Company’s material contracts, except to the extent provided for in the CORR Purchase Agreement following receipt of CPUC Approval;

         

        (xxv)      take any action or fail to take any action which would negatively affect the ability of CORR to qualify or preserve its
          status as a real estate investment trust;

         

        (xxvi)     subject to Section 12.2, make any amendment of this Agreement;

         

        
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        (xxvii)    form, empower or delegate to any committee of the Board any responsibility for any action listed in the foregoing clauses

            (i) – (xxvi), or change the composition or authority of a committee;

         

        (xxviii)   hire or fire the Chief Executive Officer, Chief Operating Officer, President, any Vice President, Treasurer or Secretary of
          the Company or its Subsidiaries; or

         

        (xxix)     enter into any agreement or commitment to undertake any act listed in the foregoing clauses (i) – (xxviii).

         

        (e)          Notwithstanding anything to the contrary herein:

         

        (i)          the Crimson Managers shall consult with the CORR Managers in advance with respect to all decisions regarding the
          ownership, management and operation of the CPUC Assets and which, but for this paragraph (e), would be subject to the consent of the CORR Managers or the Compensation Committee, as applicable, pursuant to Section 5.1(d) above or Section

            5.1(l) below, but

         

        (ii)          John D. Grier is and shall remain in control of all decisions regarding such CPUC Assets.

         

        (f)          The Board may hold such meetings at such place and at such time as it may determine; provided
          that meetings of the Board shall occur at least once per fiscal quarter.  Notice of a meeting shall be served not less than 24 hours before the date and time fixed for such meeting by confirmed e-mail or other written communication or not less
          than three (3) days prior to such meeting if notice is provided by overnight delivery service.  Notice of a meeting need not be given to any Manager who signs a waiver of notice or provides a waiver by electronic transmission or a consent to
          holding the meeting or an approval of the minutes thereof, whether before or after the meeting, or who attends the meeting without protesting, either prior thereto or at its commencement, the lack of notice to such Manager.  A special meeting of
          the Board may be called by any Manager.  Any Manager may participate in a meeting by telephone conference or similar communications.  Any action required or permitted to be taken by the Board may be taken without a meeting if such action is
          evidenced in writing and signed by all of the members of the Board.  At any meeting of the Board, the presence in person or by telephone or similar electronic communication of Managers representing at least 50% of the then-outstanding Voting
          Interests shall constitute a quorum; provided, that one CORR Manager and one Crimson Manager must be present at any meeting of the Board in person or by telephone or similar electronic communication in
          order to establish a quorum; and provided, further that the attendance of a CORR Manager or a Crimson Manager, as applicable, shall not be required to establish a
          quorum or to take any action in the event the CORR Managers or the Crimson Managers, as applicable, fail to attend any duly called meeting of the Board and, following the adjournment and re-calling of such meeting, a CORR Manager or a Crimson
          Manager, as applicable, again fails to attend such immediately subsequent meeting of the Board.

         

        
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        (g)         Subject to Section 5.1(d), in accomplishing all of the foregoing and in fulfilling its obligations pursuant to
          this Agreement, the Board may, in its sole discretion, retain or use personnel, properties and equipment of Affiliates of the Company, or the Board may hire or rent those of third parties and may employ on a temporary or continuing basis outside
          accountants, attorneys, consultants and others on such terms as the Board deems advisable.  No Person dealing with the Company shall be required to inquire into the authority of the Board to take any action or make any decision.

         

        (h)          The Board shall comply in all respects with the terms of this Agreement.  The Board shall be obligated to perform the
          duties, responsibilities and obligations of the Board hereunder only to the extent that funds of the Company are available therefor.  During the existence of the Company, each Manager serving on the Board shall devote such time and effort to the
          Company’s business as he deems necessary to manage and supervise Company business and affairs in an efficient manner.

         

        (i)          Each Manager shall be reimbursed by the Company for all reasonable out-of-pocket expenses incurred by such Person in
          connection with such services.

         

        (j)          The Board may determine to conduct any Company operations indirectly through one or more Subsidiaries.

         

        (k)         No later than thirty (30) days prior to the end of each fiscal year, the Board, acting with Super-Majority Board Approval,
          shall determine the projected amount of cash necessary from time to time for the Company to satisfy working capital requirements, including any required expenditures for the forthcoming year in accordance with the Approved Budgets, taking into
          account projected future revenue and costs (such projected cash balance, the “Liquidity Reserve”).  The Board will reevaluate the sufficiency of the Liquidity Reserve from time to time throughout
          the fiscal year, as necessary, and in any event prior to any approval of a distribution of Distributable Funds and may, acting with Super-Majority Board Approval, adjust the Liquidity Reserve.

         

        (l)         The Board shall establish a compensation committee the (“Compensation Committee”)

          for purposes of evaluating executive compensation and the granting of incentive equity awards. The Compensation Committee shall initially be composed of three (3) members, one (1) of which shall be appointed by the Grier Members and two (2) of
          which shall be appointed by CORR (one of which shall be designated by CORR as the chairman). The initial CORR-appointed members of the Compensation Committee shall be David J. Schulte and Todd Banks and the initial Grier Member-appointed member
          shall be John Grier. Each of CORR and the Grier Members may remove or replace their respective appointees to the Compensation Committee in their sole discretion at any time. The Compensation Committee shall hold meetings at such place and at such
          time as the chairman may reasonably determine.  Notice of a meeting of the Compensation Committee shall be served not less than 24 hours before the date and time fixed for such meeting by confirmed e-mail or other written communication or not
          less than three (3) days prior to such meeting if notice is provided by overnight delivery service.  Any member may participate in a meeting by telephone conference or similar communications.  Any action required or permitted to be taken by the
          Compensation Committee may be taken without a

         

        

        
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        meeting if such action is evidenced in writing and signed by all of the members of the Compensation Committee.  At any meeting of the Compensation Committee, the presence in person or by
          telephone or similar electronic communication of one (1) CORR appointee and one (1) Grier Member appointee shall constitute a quorum; provided, that the attendance of a CORR-appointee or the Grier
          Member-appointee, as applicable, shall not be required to establish a quorum or to take any action in the event the CORR-appointees or the Grier Member-appointee, as applicable, fail to attend any duly called meeting of the Compensation Committee
          and, following the adjournment and re-calling of such meeting, a CORR-appointee or the Grier Member-appointee, as applicable, again fails to attend such immediately subsequent meeting of the Compensation Committee. Notwithstanding paragraphs (c)
          or (d) above, the Company (and the Managers, officers, employees, and agents acting on behalf of the Company) shall not, either acting on its own behalf or when acting as controlling equity-holder of any of its Subsidiaries (and the Managers,
          officers, employees, and agents acting on the Company’s behalf in such capacity) shall not permit such Subsidiaries to, take (i) any of the actions described in clause (ii) of paragraph (d) above or (ii) any other action related to
          compensation of the Company’s senior management team without approval of the majority of the members of the Compensation Committee; provided that such majority must include at least one (1) CORR-appointed
          member of the Compensation Committee.  Any decisions made by the Compensation Committee shall take into account compensation programs established and maintained by CORR that benefit employees of the Company.

         

        Section 5.2          Duties of Managers.  Each Manager may rely and shall be protected
          in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, or other paper or document believed by it in good faith to be genuine and to have been
          signed or presented by the Board.  The Board may consult with legal counsel, accountants, appraisers, consultants, investment bankers and other consultants and advisers selected by it and any act taken or omitted in good faith reliance upon the
          opinion of such Persons as to matters that the Managers reasonably believe to be within such Person’s professional or expert competence shall be conclusively presumed to have been done or omitted in good faith and in accordance with such
          opinion.  Neither the Board nor any individual Manager shall be responsible or liable to the Company or any Member for any mistake, action, inaction, misconduct, negligence, fraud or bad faith on the part of any Person delivering such document,
          advice or opinion as provided in this Section 5.2 unless, with respect to an individual Manager only, such Manager had knowledge that such Person was acting unlawfully or engaging in fraud.

         

        Section 5.3          Officers.

         

        (a)          Designation.  The Board, acting with Super-Majority Board Approval, may, from time to time, designate individuals
          (who need not be a Manager) to serve as officers of the Company.  The officers may, but need not, include a president and chief executive officer, a chief operating officer, a treasurer, one or more vice presidents and a secretary.  Any two or
          more offices may be held by the same Person.

         

        
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        (b)          Duties of Officers.  Each officer of the Company designated hereunder shall devote such time to the Company’s
          business as he deems necessary to manage and supervise Company business and affairs in an efficient manner.

         

        (i)          The Chief Executive Officer, subject to the control and direction of the Board, shall in general supervise and control
          all of the business and affairs of the Company and perform all duties and exercise all powers usually appertaining to the office of the chief executive officer, subject to the provisions of applicable law and this Agreement.  The Chief Executive
          Officer may sign, with a secretary or any other proper officer of the Company thereunto authorized by the Board, any contracts or other instruments which the Board has authorized to be executed, except in cases where the signing and execution
          thereof shall be expressly delegated by the Board or by this Agreement to some other officer or agent of the Company, or shall be required by law to be otherwise signed and executed.  John D. Grier is the Chief Executive Officer of the Company as
          of the Effective Date.

         

        (ii)         The President shall assist in the supervision and control of the business and affairs of the Company in such manner as
          the Board shall determine.  The President may sign, with a secretary or any other proper officer of the Company thereunto authorized by the Board, any contracts or other instruments which the Board has authorized to be executed, except in cases
          where the signing and execution thereof shall be expressly delegated by the Board or by this Agreement to some other officer or agent of the Company, or shall be required by law to be otherwise signed and executed.  As between the Chief Executive
          Officer and President, the Chief Executive Officer shall be the more senior officer and the President shall perform the duties and exercise the powers of the Chief Executive Officer in the event of the Chief Executive Officer’s absence or
          disability, unless otherwise determined by the Chief Executive Officer or the Board.  Larry W. Alexander is the President of the Company as of the Effective Date.

         

        (iii)        The Chief Operating Officer, subject to the control and direction of the Board, shall in general supervise and control
          all of the business and affairs of the Company and perform all duties and exercise all powers usually appertaining to the office of the chief operating officer, subject to the provisions of applicable law and this Agreement.  The Chief Operating
          Officer may sign, with a secretary or any other proper officer of the Company thereunto authorized by the Board, any contracts or other instruments which the Board has authorized to be executed, except in cases where the signing and execution
          thereof shall be expressly delegated by the Board or by this Agreement to some other officer or agent of the Company, or shall be required by law to be otherwise signed and executed.  As between the Chief Executive Officer, the President and the
          Chief Operating Officer, the Chief Executive Officer and the President shall be the more senior officers and the Chief Operating Officer shall perform the duties and exercise the powers of the Chief Executive Officer and/or the President in the
          event of the Chief Executive Officer’s and/or the President’s absence or disability, unless otherwise determined by the Chief Executive Officer, the President or the Board.  Larry W. Alexander is the Chief Operating Officer of the Company as of
          the Effective Date.

         

        
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        (iv)         The Vice Presidents (if any) shall perform such duties and exercise the powers as the Chief Executive Officer or the
          President may assign or delegate to them from time to time.

         

        (v)          The Secretary (if any) shall keep and account for all books, documents, papers and records of the Company except those
          for which some other officer or agent is properly accountable; and have authority to attest to the signatures of the Chief Executive Officer, the President, the Chief Operating Officer or the Vice Presidents and shall generally perform all duties
          usually appertaining to the office of secretary of a corporation.  Robert Waldron is the Secretary of the Company as of the Effective Date.

         

        (vi)         Any other officer appointed by the Board shall have such authority and responsibilities as the Board, the Chief Executive
          Officer, the President or the Chief Operating Officer may delegate to such officer from time to time.

         

        (c)          Term of Office; Removal; Filling of Vacancies.

         

        (i)           Each officer of the Company shall hold office until his successor is chosen and qualified in his stead or until his
          earlier death, resignation, retirement, disqualification or removal from office.

         

        (ii)          Any officer, other than the Chief Executive Officer, may be removed at any time by the Board, and the Chief Executive
          Officer may be removed at any time by the Board, acting with Super-Majority Board Approval, whenever in its judgment the best interests of the Company will be served thereby, subject to the terms of any employment agreement between the Company
          and such officer.  Designation of an officer shall not of itself create any contract rights in favor of such officer.

         

        (iii)         If the office of any officer becomes vacant for any reason, the vacancy may be filled by the Board, acting with
          Super-Majority Board Approval.

         

        Section 5.4          Acknowledged and Permitted Activities.

         

        (a)          Crimson Member Activities.  The Company and the Members recognize that John D. Grier and his Affiliates own and
          will own substantial equity interests in those companies listed on Exhibit B that participate in the energy industry (“Grier Companies”) and have entered and will enter into management
          services agreements with such Grier Companies.  The Company and the Members acknowledge and agree that:

         

        (i)          John D. Grier and his Affiliates (A) shall not be prohibited or otherwise restricted by their relationship with the
          Company and its Subsidiaries from engaging in the business of operating or investing in such Grier Companies, entering into agreements to provide services to such companies or acting as directors or advisors to, or other principals of, such Grier
          Companies, and (B) shall not have any obligation to offer the Company or its Subsidiaries any Designated Business Opportunity; provided, however, that in no event may any of the Grier

         

        

        
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        Companies acquire a new business or expand its existing business to the extent such new or expanded business competes, directly or indirectly, with the business operated by the Company and its
          Subsidiaries and; provided, further, that, for the avoidance of doubt, nothing in this Agreement shall restrict the Grier Companies’ right to acquire, invest in, or otherwise pursue any Designated
          Business Opportunity; and

         

        (ii)        the Company and the Members hereby renounce any interest or expectancy in any Grier Companies or any Designated Business
          Opportunity pursued by John D. Grier and his Affiliates, and waive any claim that any such Designated Business Opportunity constitutes a corporate, partnership or other business opportunity of the Company or any of its Subsidiaries.

         

        For the avoidance of doubt, nothing in this Section 5.4(b) shall be deemed to approve, on behalf of the Company or any of its Subsidiaries, any contract or
          agreement between the Company or any of its Subsidiaries on the one hand and any of the Grier Companies on the other hand.

         

        Section 5.5          Tax Elections and Status.

         

        (a)          The Board shall make such tax elections on behalf of the Company as are necessary or appropriate in order to permit CORR
          to maintain its REIT status.

         

        (b)          The Members agree to classify the Company as a partnership for income tax purposes.  Therefore, any provision hereof to
          the contrary notwithstanding, solely for income tax purposes, each of the Members hereby recognizes that the Company, so long as it has at least two Members, shall be subject to all provisions of subchapter K of Chapter 1 of Subtitle A of the
          Code and, to the extent permitted by law, any comparable state or local income tax provisions.  Neither the Company, any Member, nor any Manager shall file an election to classify the Company as an association taxable as a corporation for income
          tax purposes.

         

        (c)          The Members agree that all decisions relating to the taxes and accounting of the Company shall be made in a manner so as
          not to negatively affect the ability of CORR to qualify as a real estate investment trust, as determined by the CORR Managers, in their reasonable discretion.

         

        Section 5.6          Tax Returns.  The Company shall deliver necessary tax information
          to each Member after the end of each fiscal year of the Company.  Not less than thirty (30) days prior to the date (as extended) on which the Company intends to file its federal income tax return or any state income tax return, the return
          proposed by the Board to be filed by the Company shall be furnished to the Members for review; provided, however, that an IRS Form K-1 or a good faith estimate of
          the amounts to be included on such IRS Form K-1 for each Member shall be sent to each Member on or before March 31 of each year.  In addition, not more than ten (10) days after the date on which the Company files its federal income tax return or
          any state income tax return, a copy of the return so filed shall be furnished to the Members.

         

        Section 5.7          Tax Matters Member.  For all tax years ending on or before
          December 31, 2017, John D. Grier shall be the tax matters member under Code Section 6231 (in such capacity,

         

        

        
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        the “Tax Matters Member”).  The Tax Matters Member may be removed and replaced by Super-Majority Board Approval at any time for any reason.  The Tax Matters Member is
          authorized to take such actions and to execute and file all statements and forms on behalf of the Company which may be permitted or required by the applicable provisions of the Code or Treasury Regulations issued thereunder.  The Tax Matters
          Member shall have full and exclusive power and authority on behalf of the Company to represent the Company (at the Company’s expense) in connection with all examinations of the Company’s affairs by tax authorities, including resulting
          administrative and judicial proceedings, and to expend Company funds for professional services and costs associated therewith.  The Tax Matters Member shall keep the Members informed as to the status of any audit of the Company’s tax affairs, and
          shall take such action as may be necessary to cause any Member so requesting to become a “notice partner” within the meaning of Code Section 6223.  Without first obtaining the Super-Majority Board
          Approval, the Tax Matters Member shall not, with respect to Company tax matters: (a) enter into a settlement agreement with respect to any tax matter that purports to bind Members, (b) intervene in any action pursuant to Code Section 6226(b)(5),
          (c) enter into an agreement extending the statute of limitations, or (d) file a petition pursuant to Code Section 6226(a) or 6228.  If an audit of any of the Company’s tax returns shall occur, the Tax Matters Member shall not settle or otherwise
          compromise assertions of the auditing agent which may be adverse to any Member as compared to the position taken on the Company’s tax returns without the prior written consent of each such affected Member.

         

        Section 5.8          Budget Act.

         

        (a)          For all tax years beginning after December 31, 2017, the Members hereby designate CORR as the “partnership
          representative” as such term is defined in Section 6223(a) of the Code, as revised by the Bipartisan Budget Act of 2015, H.R. 1314 (the “Budget Act”) (the “Company

              Representative”).  The Company Representative may be removed and replaced by Super-Majority Board Approval at any time for any reason.  If the Company Representative is not a natural person, then an officer of the Company
          Representative shall be designated as the “designated individual” within the meaning of the Treasury Regulation Section 301.6223-1. For all tax years beginning after December 31, 2017, the Members shall continue to have all the rights that they
          had during all tax years ending on or before December 31, 2017 pursuant to Section 5.8, and the Company Representative shall take any necessary action to ensure such rights to such Members.  The Company Representative shall give prompt
          written notice to each other Member (including a former Member) of any and all notices it receives from the Internal Revenue Service concerning the Company, including any notice of audit, any notice of action with respect to a revenue agent’s
          report, any notice of a thirty (30) day appeal letter, and any notice of a deficiency in Tax concerning the Company’s federal income tax return. Following commencement of any audit, examination, or proceeding that could result in an adjustment to
          the tax items recognized by any Member or any former Member (including as a result of having an impact on a subsequent year), the Company Representative shall keep each such Member or former Member reasonably and promptly informed of any
          significant matter, event, or proceeding in connection with such audit, examination, or proceeding (including periodic updates regarding the status of any negotiations between the Internal Revenue Service and the Company).  The Company
          Representative shall take no action without the authorization of the Board, other than such action as may be required by law.  Without the Super-Majority Board Approval, the Company Representative shall not extend

         

        

        
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        the statute of limitations, file a request for administrative adjustment, file suit concerning any federal, state or local tax refund or deficiency relating to any Company administrative
          adjustment or enter into any settlement agreement relating to any Company item of income, gain, loss, deduction or credit for any fiscal year of the Company, or take any other material action relating to any federal, state or local tax proceeding
          involving the Company.  The Company shall reimburse the Company Representative for any reasonable out-of-pocket expenses that the Company Representative incurs in connection with its obligations as Company Representative.  In the event that the
          Board determines that the foregoing provisions are no longer applicable to the Company, either due to a change of controlling law or the enactment of applicable Treasury Regulations, the Board is authorized to take any reasonable actions as may
          be required concerning tax matters of the Company not otherwise addressed in this Article V.

         

        (b)          Notwithstanding the foregoing, to the extent that the revised partnership audit rules under the Budget Act are applicable
          to the Company (and, for avoidance of doubt, subject to and after application of paragraph (a)), in the event that there is a determination of an adjustment under Section 6225 of the Code, as amended by the Budget Act, affecting the Company, the
          Board shall determine the appropriate response, which may include (i) instructing all Members and former Members to file amended income tax returns so as to comply with Section 6225(c)(2)(A) of the Code, as amended by the Budget Act, in which
          case all Members agree to file the necessary amended returns, even if they are no longer Members, (ii) utilizing the alternative procedures under Code Section 6225(c)(2)(B), in which case all Members agree to comply with all applicable
          procedures, even if they are no longer Members, (iii) making an election under Section 6226(a) of the Code, as amended by the Budget Act, in which case all Members agree to report the appropriate adjustment as necessary, or (iv) causing the
          Company to pay the tax, interest and penalties, if any, imposed by Section 6225 of the Code, as amended by the Budget Act.

         

        (c)          In the event of the filing of an amended tax return for the Company, due to circumstances described in paragraph (b) or
          otherwise, Capital Accounts shall be adjusted accordingly.  If an election is made under Section 6226(a) of the Code, as amended by the Budget Act, the amount of the adjustment taken into account by the Members shall be reflected in Capital
          Accounts shall be made accordingly.  If the determination of an adjustment under Section 6225 of the Code, as amended by the Budget Act, is an adjustment to the Members’ respective distributive shares of income, gain, loss, deduction or credit,
          and the alternative under paragraph (b)(iii) is selected, then the amount of taxes, but not interest or penalties, if any, paid by the Company shall be the “Tax Adjustment” and each Member whose
          taxes would have been increased or reduced if the Company had originally reported in accordance with the determination of adjustment shall be an “Adjusted Tax Member.”  Retroactively, the Company
          shall increase, by the amount of the Tax Adjustment, the amount that is deemed to have been distributed pursuant to Section 4.3(b) to each Adjusted Tax Member whose taxes would have been increased if the Company had originally reported in
          accordance with the determination of adjustment, and the Company shall reduce, by the amount of the Tax Adjustment, the amount that is deemed to have been distributed pursuant to Section 4.3(b) to each Adjusted Tax Member whose taxes
          would have been reduced if the Company had originally reported in accordance with the determination of adjustment.  Finally, the Members’ distributive shares of income, gain,

         

        

        
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        loss, deduction and credit for the year in which the determination of an adjustment under Section 6225 of the Code, as amended by the Budget Act, is effective and all future years shall be
          adjusted as appropriate.

         

        (d)         In any case in which the Company Representative considers any decision involving any proposed or possible settlement with
          a taxing authority that involves both issues principally or disproportionately affecting the Company Representative and other issues principally or disproportionately affecting other partners, the Company Representative shall not engage in
          self-dealing.

         

        (e)         If a taxing authority proposes adjustments affecting a substantial number of former Members of the Company and such
          adjustments appear to have a low likelihood of prevailing on the merits (as reasonably determined by the Company Representative), the Company Representative shall use Company resources to contest such proposed adjustments to the same extent that
          the Company Representative would do so, exercising reasonable business judgment, if such former Members were current Members to whom the cost of contesting such proposed adjustments were to be allocated. In addition, specific agreements may be
          made by the Company or the Company Representative and Members regarding the treatment of issues of special concern to any Members selling, liquidating, or reducing their interests.

         

        (f)         In any case in which the previous subsection or any other provision does not result in a decision to use Company
          resources, the Company Representative shall endeavor to offer affected Members the opportunity to fund and direct efforts of the Company Representative to contest a proposed adjustment, and the Company Representative shall have the authority (to
          the extent permitted by applicable tax law and IRS procedures) to concede or compromise any issue with respect to any direct or indirect current or former Members not willing to bear their reasonably determined share of the costs of continuing a
          controversy concerning a proposed adjustment.

         

        Section 5.9          Budgets. For each fiscal year commencing with the fiscal year
          commencing January 1, 2021, the Budgeted Expenses to be made by the Company and any of its Subsidiaries for such fiscal year shall be set forth in a proposed line-item budget (a “Draft Budget”) which shall
          be adopted by the Board, acting with Super-Majority Board Approval (as adopted, an “Approved Budget”). Each Draft Budget shall be prepared and approved or disapproved by the Board, acting with
          Super-Majority Board Approval, as follows:

         

        (a)          The Company shall prepare and submit for approval by the Board, acting with Super-Majority Board Approval, a Draft Budget
          estimating the Budgeted Expenses to be incurred during the next succeeding fiscal year by the Company and/or any of its Subsidiaries. The Draft Budget shall itemize the costs estimated in the Approved Budget by such individual line items as are
          reasonably requested by the Managers. The Company shall submit a Draft Budget no later than sixty (60) days prior to the commencement of the applicable fiscal year. The officers of the Company shall be required to cooperate and meet with the
          Board concerning the Draft Budget and make changes as requested by the Board.

         

        
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        (b)         The Board, acting with Super-Majority Board Approval, shall approve or disapprove such annual expenditures no later than
          thirty (30) days prior to the beginning of the next succeeding fiscal year. If the Board, acting with Super-Majority Board Approval, has failed to approve a Draft Budget by the commencement of a fiscal year, then until a Draft Budget is approved,
          the Company is authorized to incur (i) costs and expenses incurred in the ordinary course of business in amounts materially consistent with the prior year’s Approved Budget, (ii) costs and expenses to the extent incurred pursuant to the existing
          contractual obligations of the Company and its Subsidiaries and (iii) such other costs and expenses approved as expressly contemplated by this Agreement.

         

        ARTICLE VI. INDEMNIFICATION

         

        Section 6.1          General.  Subject to the limitations and conditions provided
          herein and to the fullest extent permitted by applicable laws, each Person who was or is made a party or is threatened to be made a party to or is involved in any threatened, pending or completed action, suit or proceeding, whether civil,
          criminal, administrative, arbitrative or investigative (hereinafter a “Proceeding”), or any appeal in such a Proceeding or any inquiry or investigation that could lead to such a Proceeding, by
          reason of the fact that he or she, or a Person of whom he or she is the legal representative, is or was a Member of the Company or Affiliate thereof or any of their respective representatives, a Manager, a member of a committee of the Company,
          the Tax Matters Member, the Company Representative or an officer of the Company, or while such a Person is or was serving at the request of the Company as a director, officer, partner, venturer, member, trustee, employee, agent or similar
          functionary of another foreign or domestic general partnership, corporation, limited partnership, joint venture, limited liability company, trust, employee benefit plan or other enterprise (each an “Indemnitee”),

          shall be indemnified by the Company to the extent such Proceeding or other above-described process relates to any such above-described relationships with, status with respect to, or representation of any such Person to the fullest extent
          permitted by the Act, as the same exists or may hereinafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than said laws permitted the
          Company to provide prior to such amendment) against judgments, penalties (including excise and similar taxes and punitive damages), fines, settlements and reasonable expenses (including attorneys’ and experts’ fees) actually incurred by such
          Person in connection with such Proceeding, and indemnification under this Section 6.1 shall continue as to a Person who has ceased to serve in the capacity that initially entitled such Person to indemnity hereunder for any and all
          liabilities and damages related to and arising from such Person’s activities while acting in such capacity; provided, however, that no Person shall be entitled to
          indemnification under this Section 6.1 if there has been a final and non-appealable judgment entered by a court of competent jurisdiction determining that, in respect of the matter for which such Person is seeking indemnification pursuant
          to this Section 6.1 such Person’s actions or omissions constituted an intentional breach of this Agreement or gross negligence or willful misconduct on the part of such Person or, in the case of a criminal matter, acted with knowledge
          that the Indemnitee’s conduct was unlawful.  Any indemnification pursuant to this Section 6.1 shall be made only out of the assets of the Company, it being agreed that the Members shall not be personally liable for such indemnification
          and shall have no obligation to contribute or loan any monies or property to the Company to enable it to effectuate such indemnification. The rights granted pursuant to this Section 6.1 shall be deemed contract rights, and no amendment,
          modification or repeal of this Section 6.1 shall have the effect of limiting or denying any such

         

        

        
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        rights with respect to actions taken or Proceedings arising prior to any such amendment, modification or repeal.  An Indemnitee shall not be denied indemnification in whole or in part under this Section 6.1
          because the Indemnitee had an interest in the transaction with respect to which the indemnification applies if the transaction was otherwise permitted by the terms of this Agreement.  IT IS ACKNOWLEDGED THAT THE INDEMNIFICATION PROVIDED IN THIS SECTION

            6.1 COULD INVOLVE INDEMNIFICATION FOR NEGLIGENCE OR UNDER THEORIES OF STRICT LIABILITY.  For purposes of this Article VI, “officers of the Company” shall include, without limitation, the Company’s and each of its Subsidiaries’ Chief
          Executive Officer, Chief Operating Officer, President, any Vice President, Treasurer and Secretary.

         

        Section 6.2          Indemnification of Officers, Employees (if any) and Agent.  The
          Company may indemnify and advance expenses to Persons who are not entitled to indemnification under Section 6.1, including current and former employees (if any) or agents of the Company, and those Persons who are or were serving at the
          request of the Company as a manager, director, officer, partner, venturer, member, trustee, employee (if any), agent or similar functionary of another foreign or domestic general partnership, corporation, limited partnership, joint venture,
          limited liability company, trust, employee (if any) benefit plan or other enterprise against any liability asserted against such Person and incurred by such Person in such a capacity or arising out of his status as such a Person to the same
          extent that it may indemnify and advance expenses to a Member under this Article VI.

         

        Section 6.3          Non-exclusivity of Rights; Insurance.  The right to
          indemnification and the advancement and payment of expenses conferred in Article VI shall not be exclusive of any other right that a Person indemnified pursuant to Section 6.1 or Section

            6.2 may have or hereafter acquire under any laws, this Agreement, or any other agreement, vote of Members or otherwise.  The Company may purchase and maintain (or may reimburse an Indemnitee for the cost of) insurance, on behalf of an
          Indemnitee as the Board shall determine, against any liability that may be asserted against, or expense that may be incurred by, such Indemnitee in connection with the Company’s activities or such Indemnitee’s activities on behalf of the Company,
          regardless of whether the Company would have the power to indemnify such Indemnitee against such liability under the provisions of this Agreement.

         

        Section 6.4          Savings Clause.  If Article VI
          or any portion thereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify and hold harmless any Person entitled to be indemnified pursuant to Article

            VI as to costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal, administrative or investigative to the
          full extent permitted by any applicable portion of this Article VI that shall not have been invalidated and to the fullest extent permitted by laws.

         

        Section 6.5          Scope of Indemnity.  For the purposes of Article VI, references to the “Company” include all constituent entities, whether corporations or otherwise, absorbed in a consolidation or merger as well as the resulting
          or surviving entity.  Thus, any Person entitled to be indemnified or receive advances under Article VI shall stand in the same position under the provisions of Article

            VI with respect to the resulting or surviving entity as he would have if such merger, consolidation, or other reorganization never occurred.

         

        

        
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        Section 6.6          Other Indemnities.  The Company acknowledges that certain
          Indemnitees may have rights to indemnification, advancement of expenses and/or insurance provided by Persons other than the Company.  The Company acknowledges and agrees that the obligation of the Company under this Agreement to indemnify or
          advance expenses to any Indemnitee for the matters covered thereby shall be the primary source of indemnification and advancement of such Indemnitee in connection therewith and any right on the part of any Indemnitee under any other agreement to
          be indemnified or have expenses advanced to such Indemnitee shall be secondary to the Company’s obligation and shall be reduced by any amount that the Indemnitee may collect as indemnification or advancement from the Company.  If the Company
          fails to indemnify or advance expenses to an Indemnitee as required or contemplated by this Agreement, and any Person makes any payment to such Indemnitee in respect of indemnification or advancement of expenses under any other agreement pursuant
          to which such Person is entitled to indemnification on account of such unpaid indemnity amounts, such other Person shall be subrogated to the rights of such Indemnitee under this Agreement in respect of such unpaid indemnity amounts.

         

        Section 6.7          Replacement of Fiduciary Duties.  Notwithstanding any other
          provision of this Agreement, to the extent that any provision of this Agreement purports or is interpreted (a) to have the effect of replacing, restricting or eliminating the duties that might otherwise, as a result of Delaware or other
          applicable law, be owed by the Board or any other Indemnitee to the Company, the Members, any other Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement or (b) to constitute a waiver or consent
          by the Company, the Members, any other Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement to any such replacement or restriction, such provision shall be deemed to have been approved by the
          Company, all of the Members, each other Person who acquires an interest in a Company Interest and each other Person who is bound by this Agreement.

         

        Section 6.8          Liability of Indemnitees.

         

        (a)          Notwithstanding anything to the contrary set forth in this Agreement, no Indemnitee shall be liable for monetary damages
          to the Company, the Members, any other Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement, for losses sustained or liabilities incurred as a result of any act or omission of an Indemnitee
          unless there has been a final and non-appealable judgment entered by a court of competent jurisdiction determining that, in respect of the matter in question, the Indemnitee acted in bad faith or in the case of a criminal matter, acted with
          knowledge that the Indemnitee’s conduct was criminal.  The Members, any other Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement, each on their own behalf and on behalf of the Company, waives
          any and all rights to claim punitive damages or damages based upon the federal or state income taxes paid or payable by any such Member or other Person.

         

        (b)          The Board may exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it
          hereunder either directly or by or through its agent or agents, and the Board shall not be responsible for any misconduct or negligence on the part of any such agent appointed by the Board in good faith.

         

        
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        (c)         To the extent that, at law or in equity, an Indemnitee has duties (including fiduciary duties) and liabilities relating
          thereto to the Company, the Members, any Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement, any Indemnitee acting in connection with the Company’s business or affairs shall not be liable, to
          the fullest extent permitted by law, to the Company, to any Member, to any other Person who acquires an interest in a Company Interest or to any other Person who is bound by this Agreement for its reliance on the provisions of this Agreement.

         

        (d)         Any amendment, modification or repeal of this Agreement or any provision hereof shall be prospective only and shall not in
          any way affect the limitations on the liability of the Indemnitees under this Agreement as in effect immediately prior to such amendment, modification or repeal with respect to claims arising from or relating to matters occurring, in whole or in
          part, prior to such amendment, modification or repeal, regardless of when such claims may arise or be asserted.

         

        Section 6.9          Standards of Conduct and Modification of Duties.

         

        (a)          Whenever the Board or the Managers make a determination or take or decline to take any other action, whether under this
          Agreement or any other agreement contemplated hereby or otherwise, then, unless another express standard is expressly provided for in this Agreement, the Board or the Managers (as the case may be) shall make such determination or take or decline
          to take such other action in good faith and shall not be subject to any higher standard contemplated hereby or under the Act or any other applicable law or at equity.  A determination, other action or failure to act by the Board or the Managers
          (as the case may be) will be deemed to be in good faith unless the Board or the Managers (as the case may be) believed such determination, other action or failure to act was adverse to the interests of the Company.  In any proceeding brought by
          the Company, any Member or any Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement challenging such action, determination or failure to act, the Person bringing or prosecuting such proceeding
          shall have the burden of proving that such determination, action or failure to act was not in good faith.

         

        (b)         To the extent that, at law or in equity, a Member owes any duties (including fiduciary duties) to the Company, any other
          Member or other holder of Company Interests or any other Person pursuant to applicable laws or this Agreement such duty is hereby eliminated to the fullest extent permitted pursuant to applicable law, it being the intent of the Members that to
          the extent permitted by applicable law and except to the extent another express standard is specified elsewhere in this Agreement, no Member shall owe any duties of any nature whatsoever to the Company, the other Members or any other holder of
          Company Interests or any other Person, other than the duty of good faith and fair dealing, and each Member may decide or determine any matter in its sole and absolute discretion taking into account solely its interests and those of its Affiliates
          (excluding the Company and its Subsidiaries) subject to the duty of good faith and fair dealing.  Except with respect to the express obligations set forth in this Agreement or any other agreement to which any Member is a party, to the maximum
          extent permitted by applicable law, the Company and each Member hereby waives any claim or cause of action against, and hereby eliminate all liabilities of, each Member, solely in its capacity as a Member, for any breach of any duty

         

        

        
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        (including fiduciary duties) to the Company, the other Members or any other holder of Company Interests or any other Person.  Nothing herein is intended to create a partnership, joint venture,
          agency or other relationship creating fiduciary or quasi-fiduciary duties or similar duties or obligations, otherwise subject the Members to joint and several liability or vicarious liability or to impose any duty, obligation or liability that
          would arise therefrom with respect to any or all of the Members or the Company.

         

        ARTICLE VII. RIGHTS OF MEMBERS

         

        Section 7.1          General.  Each of the Members shall have the right to: (a) have
          the Company books and records (including those required under the Act) kept at the principal United States office of the Company and at all reasonable times to inspect and copy any of them at the sole expense of such Member; (b) have on demand
          true and full information of all things affecting the Company and a formal account of Company affairs whenever circumstances render it just and reasonable; (c) have dissolution and winding up of the Company by decree of court as provided for in
          the Act; and (d) exercise all rights of a Member under the Act (except to the extent otherwise specifically provided herein).  Notwithstanding the foregoing, the Members shall not have the right to receive data pertaining to the assets or
          business of the Company if the Company is subject to a valid agreement prohibiting the distribution of such data or if the Board shall otherwise determine that such data is Confidential Information.

         

        Section 7.2          Limitations on Members.  No Member (in his, her or its capacity as
          a Member) shall (a) be permitted to take part in the business or control of the business or affairs of the Company; (b) have any voice in the management or operation of any Company property; (c) have the authority or power to act as agent for or
          on behalf of the Company or any other Member, to do any act which would be binding on the Company or any other Member, or to incur any expenditures on behalf of or with respect to the Company; or (d) hold out or represent to any third party that
          the Members have any such power or right or that the Members are anything other than “members” of the Company.  The foregoing provision shall not be applicable to a Member acting in his or its
          capacity as a Manager or an officer of the Company.

         

        Section 7.3          Liability of Members.  No Member shall be liable for the debts,
          liabilities, contracts or other obligations of the Company except as otherwise provided in the Act or as expressly provided in this Agreement.

         

        Section 7.4         Withdrawal and Return of Capital Contributions.  No Member shall
          be entitled to (a) withdraw from the Company except upon the assignment by such Member of all of its Company Interest in accordance with Article X, or (b) the return of its Capital
          Contributions except to the extent, if any, that distributions made pursuant to the express terms of this Agreement may be considered as such by law or upon dissolution and liquidation of the Company, and then only to the extent expressly
          provided for in this Agreement and as permitted by law.

         

        Section 7.5          Voting Rights.

         

        (a)          Except as otherwise provided herein, to the extent that the vote of the Members may be required hereunder, a written
          consent executed by a Majority Interest shall be an act of the Members.

         

        
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        (b)          M. Bridget Grier hereby grants to John D. Grier a proxy to vote her Company Interest on all matters that might be
          presented to the Members from time to time for their vote at a meeting or action by consent in lieu thereof.  Such proxy shall be irrevocable.

         

        ARTICLE VIII. BOOKS, REPORTS, MEETINGS AND CONFIDENTIALITY

         

        Section 8.1          Capital Accounts, Books and Records.

         

        (a)          The Company shall keep books of account for the Company in accordance with the terms of this Agreement.  Such books shall
          be maintained at the principal office of the Company.

         

        (b)          An individual capital account (the “Capital Account”) shall be maintained
          by the Company for each Member as provided below:

         

        (i)          The Capital Account of each Member shall, except as otherwise provided herein, be increased by the amount of cash and the
          Fair Market Value of any property contributed to the Company by such Member (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to under Section 752 of the Code) and by such Member’s
          share of the Net Profits of the Company and special allocations of income or gain under Section 4.2, and shall be decreased by such Member’s share of the Net Losses of the Company and special
          allocations of deductions of loss under Section 4.2 and by the amount of cash or the Fair Market Value of any property distributed to such Member (net of liabilities secured by such distributed
          property that such Member is considered to assume or take subject to under Code Section 752).  The Capital Accounts shall also be increased or decreased (A) to reflect a revaluation of Company property pursuant to paragraph (b) of the definition
          of Carrying Value and (B) upon the exercise of any non-compensatory warrant pursuant to the requirements of Treasury Regulations Sections 1.704-1(b)(2)(iv)(d)(4) and 1.704-1(b)(2)(iv)(s), as such Treasury Regulations may be amended or modified.

         

        (ii)          Any adjustments of basis of Company property provided for under Code Sections 734 and 743 and comparable provisions of
          state law (resulting from an election under Code Section 754 or comparable provisions of state law) shall not affect the Capital Accounts of the Members (unless otherwise required by applicable Treasury Regulations), and the Members’ Capital
          Accounts shall be debited or credited pursuant to the terms of this Section 8.1 as if no such election had been made.

         

        (iii)        Capital Accounts shall be adjusted, in a manner consistent with this Section 8.1,
          to reflect any adjustments in items of Company income, gain, loss or deduction that result from amended returns filed by the Company or pursuant to an agreement by the Company with the Internal Revenue Service or a final court decision.

         

        
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        (iv)        It is the intention of the Members that the Capital Accounts of each Member be kept in the manner required under Treasury
          Regulations Section 1.704-1(b)(2)(iv).  To the extent any additional adjustment to the Capital Accounts is required by such regulation, the Board is hereby authorized to make such adjustment after notice to the Members.

         

        (v)         The Board, by Super-Majority Board Approval, shall have the discretion to adjust the Members’ Capital Accounts to reflect
          a revaluation of the Company’s properties on its books upon the occurrence of an event specified in Treasury Regulations Section 1.704-1(b)(2)(iv)(f).  If the Board, by Super-Majority Board Approval, makes a determination that any such adjustment
          is appropriate, the Capital Accounts of all Members and the Carrying Values of all Company properties shall, immediately prior to such event, be adjusted upward or downward to reflect any Unrealized Gain or Unrealized Loss attributable to the
          Company properties, as if such Unrealized Gain or Unrealized Loss had been recognized on an actual Transfer of each such property immediately prior to such event for an amount equal to its Fair Market Value and had been allocated to the Members
          at such time pursuant to Section 4.1 and Section 4.2.

         

        (vi)         Any Person who acquires a Company Interest directly from a Member, or whose Company Interest shall be increased by means
          of a Transfer to it of all or part of the Company Interest of another Member, shall have a Capital Account (including a credit for all Capital Contributions made by such Member Transferring such Company Interest) which includes the Capital
          Account balance of the Company Interest or portion thereof so acquired or Transferred.

         

        Section 8.2          Bank Accounts.  The Board shall cause one or more Company accounts
          to be maintained in a bank (or banks) which is a member of the Federal Deposit Insurance Corporation or some other financial institution, which accounts shall be used for the payment of the expenditures incurred by the Company in connection with
          the business of the Company, and in which shall be deposited any and all receipts of the Company.  The Board shall determine the number of and the Persons who will be authorized as signatories on each such bank account.  The Company may invest
          the Company funds in such money market accounts or other investments as the Board may select.

         

        Section 8.3          Reports.

         

        (a)          The Company shall provide to each Member the following reports in addition to any other reports or information reasonably
          requested by a Member:

         

        (i)           as soon as available, and in any event within five (5) Business Days of quarter end and seven (7) Business Days of year
          end, a pre-tax trial balance and pre-tax financial statements for the respective period;

         

        (ii)          as soon as available, and in any event within ten (10) Business Days of quarter end and eleven (11) Business Days of
          year end, an after-tax trial balance and after-tax financial statements for the respective period;

         

        
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        (iii)        as soon as available, and in any event within forty-five (45) days (or such later date as approved in writing by CORR) of
          the Company’s year-end, audited consolidated financial statements of the Company as at the end of each such fiscal year and audited consolidated statements of income, cash flows and Members’ equity for such fiscal year, in each case setting forth
          in comparative form the figures for the previous fiscal year, accompanied by the certification of independent certified public accountants of recognized national standing, certifying to the effect that, except as set forth therein, such financial
          statements have been prepared in accordance with GAAP, applied on a basis consistent with prior years, and fairly present in all material respects the financial condition of the Company as of the dates thereof and the results of their operations
          and changes in their cash flows and Members’ equity for the periods covered thereby, and a schedule showing any variance between actual and budgeted figures (as set forth on the Approved Budget);

         

        (iv)         as soon as available, and in any event within ten (10) Business Days of the end of any fiscal quarter, quarterly
          unaudited consolidated financial statements of the Company for the previous quarter, including unaudited consolidated balance sheets of the Company as at the end of each such fiscal quarter and for the current fiscal year to date and unaudited
          consolidated statements of income, cash flows and Members’ equity for such fiscal quarter and for the current fiscal year to date, in each case setting forth in comparative form the figures for the corresponding periods of the previous fiscal
          quarter, all in reasonable detail and all prepared in accordance with GAAP, consistently applied (subject to normal year-end audit adjustments and the absence of notes thereto), and certified by the principal financial or accounting officer of
          the Company, and a schedule showing any variance between actual and budgeted figures (as set forth on the Approved Budget);

         

        (v)         as soon as available, and in any event within ten (10) days of the end of each month, unaudited monthly financial
          statements of the Company, including unaudited consolidated balance sheets of the Company as at the end of each such monthly period and for the current fiscal year to date and unaudited consolidated statements of income, cash flows and Members’
          equity for each such monthly period and for the current fiscal year to date, all in reasonable detail and all prepared in accordance with GAAP, consistently applied (subject to normal year-end audit adjustments and the absence of notes thereto)
          and business summary reports;

         

        (vi)         promptly upon request, copies of any Approved Budget (and any Draft Budgets);

         

        (vii)       prompt notice of any event that would reasonably be expected to have a material effect on the Company’s financial
          condition, business or operations, including any statements from the Company’s independent accountants in respect of the Company’s status as a going concern, service of any material lawsuit on the Company or notice of material violations of any
          material law or regulation;

         

        
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        (viii)       concurrently with delivery to any lender (or agent thereof) of the Company or any of its Subsidiaries, any report or
          document to be delivered to such lender or agent pursuant to the terms of any credit or other financing agreement of the Company or any of its Subsidiaries; and

         

        (ix)         any material reports prepared by or on behalf of the Company with respect to matters relating to asset maintenance and/or
          asset integrity.

         

        (b)          In addition to Section 8.3(a) and notwithstanding anything to the contrary therein, in order to enable CORR to
          comply with reporting requirements in filings to be made with the Securities and Exchange Commission, the Company shall:

         

        (i)          submit a reporting package to assist with the preparation of CORR’s SEC reporting obligations, including statements of
          member’s equity and cash flows and certain disclosure items, within eleven (11) Business Days of quarter end and fourteen (14) Business Days of year end;

         

        (ii)         submit quarterly and year to date analytics comparing current quarter and year to date periods to prior year quarter and
          year to date periods to assist with preparation of management’s discussion and analysis in CORR’s SEC filings within twelve (12) Business Days of quarter end and sixteen (16) Business Days of year end;

         

        (iii)       design and maintain internal controls providing for (1) reasonable assurance regarding the reliability of the Company’s
          financial reporting, including the presentation of the Company’s financial statements in accordance with GAAP and (2) the safeguarding of the Company’s assets;

         

        (iv)         to the extent that CORR’s obligations to maintain effective internal control over financial reporting pursuant to
          applicable laws and regulations (including those promulgated by the Securities and Exchange Commission) require  the Company to comply with such laws and regulations, including, but not limited to, the determination by CORR that CORR must
          consolidate the Company under GAAP, ensure that its internal controls comply with the laws, regulations, and control framework applicable to CORR;

         

        (v)         if CORR has advised the Company in writing that CORR is required to file an Auditor’s Report with respect to the Company’s
          financial information delivered under Section 8.3(b)(ii), in filings to be made by CORR with the Securities and Exchange Commission, cause its auditor to provide the Auditor’s Report; and

         

        (vi)        afford CORR and its outside legal and accounting representatives access to (a) the Company’s properties, offices, and
          other facilities; (b) the corporate, financial and similar records, reports and documents of the Company, including all books and records, minutes of proceedings, internal management documents, reports of operations, reports of adverse
          developments, copies of any management letters and communications with Members, and to permit CORR and

         

        

        
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        its representatives to examine such documents and make copies thereof or extracts therefrom; and (c) any officers, senior employees and accountants of the Company, and to afford each Member and
          its representatives the opportunity to discuss and advise on the affairs, finances and accounts of the Company with such officers, senior employees and accountants (and the Company hereby authorizes such employees and accountants to discuss with
          CORR and its representatives such affairs, finances and accounts).

         

        (c)          Financial statements, reports and other information required or permitted to be furnished by the Company pursuant to Section

            8.3(a) above may be submitted by the Company by email addressed to CORR.

         

        Section 8.4          Meetings of Members.  The Board may hold meetings of the Members
          from time to time to inform and consult with the Members concerning the Company’s assets and such other matters as the Board deems appropriate; provided, that nothing in this Section 8.4 shall require the Board to hold any such meetings.  Such meetings shall be held at such times and places, as often and in such manner as shall be determined by the Board.  The Board at its election may
          separately inform and consult with the Members for the above purposes without the necessity of calling and/or holding a meeting of the Members.  Notwithstanding the foregoing provisions of this Section 8.4,
          the Members shall not be permitted to take part in the business or control of the business of the Company; it being the intention of the parties that the involvement of the Members as contemplated in this Section
            8.4 is for the purpose of informing the Members with respect to various Company matters, explaining any information furnished to the Members in connection therewith, answering any questions the Members may have with respect
          thereto and receiving any ideas or suggestions the Members may have with respect thereto; it being the further intention of the parties that the Board shall have full and exclusive power and authority on behalf of the Company to acquire, manage,
          control and administer the assets, business and affairs of the Company in accordance with Section 5.1 and the other applicable provisions of this Agreement.

         

        Section 8.5          Confidentiality.  The Members acknowledge that they and their
          respective appointed Managers shall receive information from or regarding the Company and its Subsidiaries in the nature of trade secrets or that otherwise is confidential information or proprietary information (as further defined below in this Section

            8.5, “Confidential Information”), the release of which would be damaging to the Company or Persons with which the Company conducts business.  Each Member shall hold in strict confidence, and
          shall require that such Member’s appointed Managers hold in strict confidence, any Confidential Information that such Member or such Member’s appointed Managers receives, and each Member shall not, and each Member shall require that such Member’s
          appointed Managers agree not to, disclose such Confidential Information to any Person (including any Affiliates) other than another Member, Manager or officer of the Company, or otherwise use such information for any purpose other than to
          evaluate, analyze, and keep apprised of the Company’s assets and its interest therein and for the internal use thereof by a Member or its Affiliates, except for disclosures: (a) to comply with any laws; provided, that a Member or Manager must notify the Company promptly of any disclosure of Confidential Information that is required by law, and any such disclosure of Confidential Information shall be to the minimum
          extent required by law; (b) to Affiliates, partners, members, stockholders, investors, directors, officers, employees, agents, attorneys, consultants, lenders, underwriters, professional advisers or representatives of the Member or Manager or
          their Affiliates

         

        

        
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        (provided, that such Member or Manager shall be responsible for assuring such partners’, members’, stockholders’, investors’,
          directors’, officers’, employees’, agents’, attorneys’, consultants’, lenders’, professional advisers’ and representatives’ compliance with the terms hereof, except to the extent any such Person who is not a partner, member, stockholder,
          director, officer or employee has agreed in writing addressed to the Company to be bound by customary undertakings with respect to confidential and proprietary information substantially similar to this Section 8.5), or to Persons to which
          that Member’s Company Interest may be Transferred as permitted by this Agreement, but only if the recipients of such information have agreed to be bound by customary confidentiality undertakings substantially similar to this Section 8.5;
          (c) of information that a Member also has received from a source independent of the Company and that such Member reasonably believes such source obtained without breach of any obligation of confidentiality to the Company; (d) of information
          obtained prior to the formation of the Company; provided, that this clause (d) shall not relieve any Member or any of its Affiliates from any obligations it may have to any other Member or any of
          its Affiliates under any existing confidentiality agreement; (e) that have been or become independently developed by a Member, a Manager or its Affiliates or on their behalf without using any of the Confidential Information; (f) that are or
          become generally available to the public (other than as a result of a prohibited disclosure by such Member or Manager or its representatives); (g) in connection with any proposed Transfer of all or part of a Company Interest of a Member, or of
          working interests or other assets received in accordance with this Section 8.5, or the proposed sale of all or substantially all of a Member or its direct or indirect parent, to advisers or representatives of the Member, its direct or
          indirect parent or Persons to which such interest may be Transferred as permitted by this Agreement, but only if the recipients of such information have agreed to be bound by customary undertakings with respect to confidential and proprietary
          information similar to this Section 8.5; (h) by CORR to the extent necessary or appropriate pursuant to the provisions of the federal securities laws or the rules or regulations promulgated thereunder (including applicable stock exchange
          or quotation system requirements); or (i) to the extent the Company shall have consented to such disclosure in writing.  The Members agree that breach of the provisions of this Section 8.5 by such Member or such Member’s appointed
          Managers would cause irreparable injury to the Company for which monetary damages (or other remedy at law) would be inadequate in view of (i) the complexities and uncertainties in measuring the actual damages that would be sustained by reason of
          the failure of a Member or Manager to comply with such provisions and (ii) the uniqueness of the Company’s business and the confidential nature of the Confidential Information.  Accordingly, the Members agree that the provisions of this Section

            8.5 may be enforced by the Company (or any Member on behalf of the Company) by temporary or permanent injunction (without the need to post bond or other security therefor), specific performance or other equitable remedy and by any other
          rights or remedies that may be available at law or in equity.  The term “Confidential Information” shall include any information pertaining to the identity of the Members and the Company’s (or any
          of its Subsidiaries’) business that is not available to the public, whether written, oral, electronic, visual form or in any other media, including such information that is proprietary, confidential or concerning the Company’s (or any of its
          Subsidiaries’) ownership and operation of their respective assets or related matters, including any actual or proposed operations or development project or strategies, other operations and business plans, actual or projected revenues and
          expenses, finances, contracts and books and records.

         

        
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        ARTICLE IX. DISSOLUTION, LIQUIDATION AND TERMINATION

         

        Section 9.1          Dissolution.  The Company shall be dissolved upon the occurrence
          of any of the following:

         

        (a)          The sale, disposition or termination of all or substantially all of the property then owned by the Company; or

         

        (b)          Super-Majority Board Approval.

         

        Section 9.2          Liquidation and Termination.  Upon dissolution of the Company, the
          Board or, if the Board so desires, a Person selected by the Board, shall act as liquidator or shall appoint one or more liquidators who shall have full authority to wind up the affairs of the Company and make final distribution as provided
          herein.  The liquidator shall continue to operate the Company properties with all of the power and authority of the Board.  The steps to be accomplished by the liquidator are as follows:

         

        (a)          As promptly as possible after dissolution and again after final liquidation, the liquidator, if requested by any Member,
          shall cause a proper accounting to be made by the Company’s independent accountants of the Company’s assets, liabilities and operations through the last day of the month in which the dissolution occurs or the final liquidation is completed, as
          appropriate.

         

        (b)          In no event will any liquidation occur before receipt of the CPUC Approval.  Following the occurrence of either of the
          events specified in Section 9.1 above, and the receipt of any approval required by the CORR stockholders, immediately prior to liquidation of the Company, the following shall occur:

         

        (i)          each Class A-1 Unit will be exchanged for a share of CORR Series C Preferred Stock, unless CORR has previously elected to
          effectuate the Exchange, as that term is defined in Articles Supplementary for such Series C Preferred Stock, in which case each Class A-1 Unit will be exchanged for a number of depositary shares representing CORR Series A Preferred Stock
          pursuant to the Exchange provisions set forth in the Articles Supplementary for such Series C Preferred Stock;

         

        (ii)         each Class A-2 Unit will be exchanged for a share of CORR Series B Preferred Stock, unless the Mandatory Conversion, as
          that term is defined in Articles Supplementary for such Series B Preferred Stock, has occurred, in which case each Class A-2 Unit will be exchanged for a number of shares of CORR Class B Common Stock pursuant to the Mandatory Conversion
          provisions set forth in the Articles Supplementary for such Series B Preferred Stock; and

         

        (iii)         each Class A-3 Unit will be exchanged for a share of CORR Class B Common Stock.

         

        In order to process such exchange, the Grier Members shall submit such written representations, investment letters, legal opinions or other instruments

         

        

        
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        necessary, in CORR’s reasonable discretion, to effect compliance with the Securities Act of 1933, as amended (the “Securities Act”) and all
          relevant state securities or “blue sky” laws.  The CORR Securities shall be delivered by CORR as duly authorized, validly issued, fully paid and non-assessable shares of CORR Securities, free of any pledge, lien, encumbrance or restriction, other
          than any ownership limits set forth in the charter of CORR, the Securities Act and relevant state securities or “blue sky” laws.  Neither any Grier Member nor any other interested Person shall have any right to require or cause CORR to register,
          qualify or list any CORR Securities owned or held by such Person, whether or not such CORR Securities are issued pursuant to this Section 9.2(b), with the SEC, with any state securities commissioner, department or agency, under the Securities Act
          or the Exchange Act or with any stock exchange, except as otherwise explicitly provided in a separate written registration rights agreement1. CORR Securities issued
          pursuant to this Section 9.2(b) may contain such legends regarding restrictions under the Securities Act and applicable state securities laws as CORR determines to be necessary or advisable in order to ensure compliance with such laws.  Upon the
          closing of the exchange of CORR Securities pursuant to this Section 9.2(b), the Company shall distribute an amount equal to the excess of (x) the Class A-1 Members’ Preferred Return Per Class A-1 Unit with respect to Class A-1 Units being
          exchanged over the aggregate amount previously distributed with respect to such Class A-1 Units pursuant to Section 4.3(b)(i) through the date of exchange, (y) the Class A-2 Members’ Preferred Return Per Class A-2 Unit with respect to
          Class A-2 Units being exchanged over the aggregate amount previously distributed with respect to such Class A-2 Units pursuant to Section 4.3(b)(ii) through the date of exchange, and (z) the Class A-3 Members’ Preferred Return Per Class
          A-3 Unit with respect to Class A-3 Units being exchanged over the aggregate amount previously distributed with respect to such Class A-3 Units pursuant to Section 4.3(b)(iii) through the date of exchange.

         

        (c)          Thereafter, the liquidator shall pay all of the debts and liabilities of the Company (including all expenses incurred in
          liquidation) or otherwise make adequate provision therefor (including the establishment of a cash escrow fund for contingent liabilities in such amount and for such term as the liquidator may reasonably determine).  After making payment or
          provision for all debts and liabilities of the Company, the liquidator shall sell all properties and assets of the Company for cash as promptly as is consistent with obtaining the best price and terms therefor; provided,
          however, that upon Super-Majority Board Approval, the liquidator may distribute one or more properties in kind.  All Net Profit and Net Loss (or other items of income, gain loss or deduction allocable
          under Section 4.2) realized on such sales shall be allocated to the Members in accordance with Section 4.1(a) and Section 4.2 of this Agreement, and the Capital Accounts of the Members shall be adjusted accordingly.  In the event of a distribution of properties in kind, the
          liquidator shall first adjust the Capital Accounts of the Members by the amount of any Net Profit or Net Loss (or other items of income, gain loss or deduction allocable under Section 4.2) that
          would have been recognized by the Members if such

         

        

        

       

        
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        properties had been sold at then-current Fair Market Values. The liquidator shall then distribute the proceeds of such sales or such properties to the Members in the manner provided in Section 4.3(b).  If the foregoing distributions to the Members do not equal the Member’s respective positive Capital Account balances as determined
          after giving effect to the foregoing adjustments and to all adjustments attributable to allocations of Net Profit and Net Loss realized by the Company during the taxable year in question and all adjustments attributable to contributions and
          distributions of money and property effected prior to such distribution, then the allocations of Net Profit and Net Loss provided for in this Agreement shall be adjusted, to the least extent necessary, to produce a Capital Account balance for
          each Member which corresponds to the amount of the distribution to such Member.  Each Member shall have the right to designate another Person to receive any property that otherwise would be distributed in kind to that Member pursuant to this Section 9.2.

         

        (d)          Except as expressly provided herein, the liquidator shall comply with any applicable requirements of the Act and all
          other applicable laws pertaining to the winding up of the affairs of the Company and the final distribution of its assets.

         

        (e)          Notwithstanding any provision in this Agreement to the contrary, no Member shall be obligated to restore a deficit
          balance in its Capital Account at any time.

         

        The distribution of cash and/or property to the Members in accordance with the provisions of this Section 9.2 shall constitute a complete
          return to the Members of their Capital Contributions and a complete distribution to the Members of their Company Interest and all Company property.

         

        ARTICLE X. TRANSFERS OF COMPANY INTERESTS

         

        Section 10.1          Transfer of Company Interests.

         

        (a)          No Member’s Company Interest or rights therein shall be Transferred, or made subject to an Indirect Transfer, in whole or
          in part, without the written consent of each other Member, which consent shall not be unreasonably withheld, conditioned or delayed; provided, however, that any
          Member may Transfer its Company Interest without obtaining such consent pursuant to a Permitted Transfer. Any attempt by a Member to Transfer its Company Interest in violation of the immediately preceding sentence shall be void ab initio.

         

        (b)          [Intentionally Omitted].

         

        (c)          If any Company Interest is required by law to be Transferred to a spouse of a holder thereof pursuant to an order of a
          court of competent jurisdiction in a divorce proceeding (notwithstanding the provisions of Section 10.1(a)), then such holder shall nevertheless retain all rights with respect to such interest
          and any interest of such spouse shall be subject to such rights of such holder.  In addition, if it is determined that the holder will be required to pay any taxes attributable to such interest of the spouse in the Company, then any tax liability
          of such holder that is attributable to such spouse’s interest shall be taken into account, and shall reduce such spouse’s interest in the Company; in no event shall the Company be required to provide any financial, valuation or other information

         

        

        
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        regarding the Company or any of its Subsidiaries or Affiliates or any of their respective assets to the spouse or former spouse of such holder.

         

        (d)         Unless an assignee of a Company Interest becomes a substituted Member in accordance with the provisions set forth below,
          such assignee shall not be entitled to any of the rights granted to a Member hereunder, other than the right to receive allocations of income, gains, losses, deductions, credits and similar items and distributions to which the assignor would
          otherwise be entitled, to the extent such items are assigned.

         

        (e)          An assignee of a Company Interest pursuant to a Permitted Transfer shall become a substituted Member of the Company,
          entitled to all of the rights of the assigning Member with respect to such assigned Company Interest, automatically upon request by the assignee.  Any other assignee of a Company Interest shall become a substituted Member if, and only if, (i) the
          assignor gives the assignee such right, (ii) the substitution is approved by Super-Majority Board Approval, and (iii) if the Board so requires, the assignee reimburses the Company for any costs incurred by the Company in connection with such
          assignment and substitution.  Upon satisfaction of such requirements, an assignee shall be admitted as a substituted Member of the Company as of the effective date of such assignment; provided, that the
          assignee agrees to be bound by the terms of this Agreement by executing a copy of same and such other documents as the Company may reasonably request to effectuate the Transfer.  In the event John D. Grier dies or becomes disabled so that he
          cannot perform competently as a member of the Board: (i) his seat on the Board shall be filled by Robert Waldron, (ii) his role as the person having control over the CPUC Assets shall be assumed by Larry W. Alexander, and (iii) the Company shall
          seek accelerated consideration of its requested CPUC Approval.

         

        (f)          The Company and the Board shall be entitled to treat the record Member of any Company Interest as the absolute owner
          thereof in all respects and shall incur no liability for distributions of cash or other property made in good faith to such Member until such time as a written assignment of such Company Interest that complies with the terms of this Agreement has
          been received by the Board.

         

        ARTICLE XI. REPRESENTATIONS AND WARRANTIES

         

        Each Member acknowledges and agrees that its Company Interest is being acquired for such Member’s own account as part of a private offering, exempt from registration under the Securities Act and
          all applicable state securities or blue sky laws, for investment only and not with a view to the distribution nor other sale thereof; and that an exemption from registration under the Securities Act and under applicable state securities laws may
          not be available if the Company Interest is acquired by such Member with a view to resale or distribution thereof under any conditions or circumstances as would constitute a distribution of such Company Interest within the meaning and purview of
          the Securities Act or applicable state securities laws.  Accordingly, except as specifically contemplated by the Purchase Agreement, each Member represents and warrants to the Company and all other interested parties that:

         

        (a)          Such Member has sufficient financial resources to continue such Member’s investment in the Company for an indefinite
          period.

         

        
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        (b)          Such Member has adequate means of providing for its current needs and contingencies and can afford a complete loss of its
          investment in the Company.

         

        (c)          It is such Member’s intention to acquire and hold its Company Interest solely for its private investment and for its own
          account and with no view or intention to Transfer such Company Interest (or any portion thereof).

         

        (d)         Such Member has no contract, undertaking, agreement, or arrangement with any Person to sell or otherwise Transfer to any
          Person, or to have any Person sell on behalf of such Member, its Company Interest (or any portion thereof), and such Member is not engaged in and does not plan to engage within the foreseeable future in any discussion with any Person relative to
          the sale or any Transfer of its Company Interest (or any portion thereof).

         

        (e)          Such Member is not aware of any occurrence, event, or circumstance upon the happening of which such Member intends to
          attempt to Transfer its Company Interest (or any portion thereof), and such Member does not have any present intention of Transferring its Company Interest (or any portion thereof) after the lapse of any particular period of time.

         

        (f)          Such Member, by making other investments of a similar nature and/or by reason of his/its business and financial
          experience or the business and financial experience of those Persons it has retained to advise such Member with respect to its investment in the Company, is a sophisticated investor who has the capacity to protect its own interest in investments
          of this nature and is capable of evaluating the merits and risks of this investment.

         

        (g)          Such Member has had all documents, records, books and due diligence materials pertaining to this investment made
          available to such Member and such Member’s accountants and advisors; and such Member has also had an opportunity to ask questions of and receive answers from the Company concerning this investment; and such Member has all of the information
          deemed by such Member to be necessary or appropriate to evaluate the investment and the risks and merits thereof.

         

        (h)          Such Member has a close business association with the Company or certain of its Affiliates, thereby making the Member a
          well-informed investor for purposes of this investment.

         

        (i)          Such Member confirms that such Member has been advised to consult with such Member’s own attorney regarding legal matters
          concerning the Company and to consult with independent tax advisors regarding the tax consequences of investing in the Company.

         

        (j)          Such Member is aware of the following:

         

        (i)          An investment in the Company is speculative and involves a high degree of risk of loss by the Member of its entire
          investment, with no assurance of any income from such investment;

         

        
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        (ii)          No federal or state agency has made any finding or determination as to the fairness of the investment, or any
          recommendation or endorsement, of such investment;

         

        (iii)        There are substantial restrictions on the Transferability of the Company Interest of such Member, there will be no public
          market for such Company Interest and, accordingly, it may not be possible for such Member readily to liquidate its investment in the Company in case of Emergency; and

         

        (iv)        Any federal or state income tax benefits which may be available to such Member may be lost through changes to existing
          laws and regulations or in the interpretation of existing laws and regulations; such Member in making this investment is relying, if at all, solely upon the advice of its own tax advisors with respect to the tax aspects of an investment in the
          Company.

         

        (k)          Such Member is an accredited investor (as defined in Regulation D promulgated under the Securities Act) and such Member
          is fully aware that, in agreeing to admit him, her or it as a Member, the Board and the Company are relying upon the truth and accuracy of the foregoing representations and warranties.

         

        Such Member further covenants and agrees that (A) its Company Interest will not be resold unless the provisions set forth in Article X above
          are complied with, and (B) such Member shall have no right to require registration of its Company Interest under the Securities Act or applicable state securities laws, and, in view of the nature of the Company and its business, such registration
          is neither contemplated nor likely.

         

        ARTICLE XII. MISCELLANEOUS

         

        Section 12.1          Notices.  All notices, elections, demands or other communications
          required or permitted to be made or given pursuant to this Agreement shall be in writing and shall be considered as properly given or made on the date of actual delivery if given by (a) personal delivery, (b) United States mail, (c) fax or email
          (with a hard copy sent to the recipient by expedited overnight delivery service with proof of delivery (charges prepaid) within two (2) Business Days) or (d) expedited overnight delivery service with proof of delivery (charges prepaid), addressed
          to the following respective addresses:

         

        If to some or all of the Grier Members, to:

        1801 California Street, Suite 3600

        Denver, CO 80202

        Attention: John D. Grier

        Email: jgrier@crimsonml.com

         

        and to:

         

        
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        Lewis, Ringelman & Fanyo P.C.

        1515 Wynkoop Street, Suite 700

        Denver, Colorado

        Attention: David J. Ringelman

        Email: dringelman@lewisringelman.com

         

        If to CORR, to:

         

        CorEnergy Infrastructure Trust, Inc.

        1100 Walnut, Suite 3350

        Kansas City, MO 64106

        Email: dschulte@corenergy.reit

        

        

        and to:

         

        Husch Blackwell LLP

        4801 Main Street, Suite 1000

        Kansas City, MO 64112-2551

        Attention:  Steve Carman

        Email:  Steve.Carman@huschblackwell.com

         

        Any Member may change its address by giving notice in writing to the other Members of its new address.

         

        Section 12.2          Amendment.

         

        (a)          Amendments to be Adopted by the Company.  Each Member agrees that an appropriate Manager or officer of the
          Company, in accordance with and subject to the limitations contained in Article V, may execute, swear to, acknowledge, deliver, file and record whatever documents may be required to reflect:

         

        (i)           a change in the name of the Company in accordance with this Agreement, the location of the principal place of business
          of the Company or the registered agent or office of the Company that has been approved by the Board;

         

        (ii)          admission or substitution of Members whose admission or substitution has been made in accordance with this Agreement;

         

        (iii)        a change that the Board believes is reasonable and necessary or appropriate to qualify or continue the qualification of
          the Company as a limited liability company under the laws of any state or that is necessary or advisable in the opinion of the Board to ensure that the Company will not be taxable as a corporation or otherwise taxed as an entity for federal
          income tax purposes; and

         

        (iv)        an amendment that is necessary, in the opinion of counsel, to prevent the Company or its officers from in any manner being
          subjected to the provisions of the Investment Company Act of 1940, as amended, or “plan asset” regulations adopted under the Employee Retirement Income Security Act of 1974, as amended,

         

        

        
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        whether or not substantially similar to plan asset regulations currently applied or proposed by the United States Department of Labor.

         

        (b)          Amendment Procedures.  Except as set forth in Section 12.2(a) and Section 12.2(d), this Agreement
          may be amended, or compliance with any provision hereof may be waived, at any time and from time to time by the Board, acting with Super-Majority Board Approval.

         

        (c)          Issuance of New Units.  For the avoidance of doubt, it is agreed that any such amendment, modification,
          supplement, restatement or waiver in connection with the authorization or issuance by the Company pursuant to Section 3.3, Section 3.4 or Section 3.5 of additional Company Interests having such rights, designations and
          preferences (including with respect to the Company’s distributions) ranking senior or junior to, or pari passu with, the Class A-1 Units, Class A-2 Units, Class A-3 Units, Class B-1 Units or any other
          series of Company Interests shall require only the approval of the Board, acting with Super-Majority Board Approval, and that such amendment, modification, supplement, restatement or waiver (including any change in governance rights) shall not be
          deemed an alteration or change to the rights, obligations, powers or preferences of any series of interests.

         

        (d)          Amendments Requiring Approval of Specific Member(s).  No amendment of this Agreement shall be effected that (i)
          obligates a Member to contribute capital to the Company, (ii) amends or revises the right or obligations with respect to the payment or return of distributions to or from a Member or (iii) changes the status with respect to the limited liability
          of a Member, in each case without the written consent of such Member.

         

        Section 12.3          Changes Upon CPUC Approval.

         

        (a)          Contribution of Other CORR Assets.  Notwithstanding any provisions to the contrary in this Agreement, within
          thirty (30) days following receipt of CPUC Approval, CORR covenants and agrees to transfer to the Company all of its operating assets, including, without limitation, all equity interests CORR holds directly or indirectly in any of its
          subsidiaries or other Affiliates (other than CORR’s equity interests in the Company or equity interests CORR holds indirectly in any of the Company’s Subsidiaries) (the “CORR Transfer”).

         

        (b)         Fourth Amended and Restated Limited Liability Company Agreement.  Notwithstanding any provisions to the contrary
          in this Agreement, immediately on receipt of CPUC Approval, the parties hereto acknowledge and agree that, without any further action or approvals by the Managers or Members, this Agreement shall be null and void, and shall be superseded and
          replaced in its entirety with the Fourth Amended and Restated Limited Liability Company Agreement, the form of which is attached hereto as Exhibit C.

         

        (c)         Third Party Consents.  CORR and the Grier Members agree that, prior to consummation of the actions contemplated by
          Section 12.3(a) and Section 12.3(b) of this Agreement, each such Member will use its commercially reasonable efforts to complete all required registrations, filings and notifications with, and obtain all required consents,

         

        

        
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        approvals, or waivers from, any Governmental Authority or any third party as necessary for the consummation of such actions.  At such time, CORR and all other Members shall deliver or cause to be
          delivered (i) a fully executed Fourth Amended and Restated Limited Liability Company Agreement, (ii) executed versions of all assignment and transfer documents reasonably necessary to consummate the Transfer and (iii) all other documents,
          certificates, releases and instruments customary and/or reasonably necessary to consummate the Transfer.

         

        Section 12.4        Partition.  Each of the Members hereby irrevocably waives for the
          term of the Company any right that such Member may have to maintain any action for partition with respect to the Company property.

         

        Section 12.5        Entire Agreement.  This Agreement constitutes the full and
          complete agreement of the parties hereto with respect to the subject matter hereof.

         

        Section 12.6        Severability.  Every provision in this Agreement is intended to be
          severable.  If any term or provision hereof is illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the validity of the remainder of this Agreement.

         

        Section 12.7        No Waiver.  The failure of any Member to insist upon strict
          performance of a covenant hereunder or of any obligation hereunder, irrespective of the length of time for which such failure continues, shall not constitute a waiver of such Member’s right to demand strict compliance in the future.  No consent
          or waiver, express or implied, to or of any breach or default in the performance of any obligation hereunder shall constitute a consent or waiver to or of any other breach or default in the performance of the same or any other obligation
          hereunder.

         

        Section 12.8        Applicable Law.  This Agreement and the rights and obligations of
          the parties hereunder shall be governed by and interpreted, construed and enforced in accordance with the internal laws of the State of Delaware, without regard to rules or principles of conflicts of law requiring the application of the law of
          another State.

         

        Section 12.9        Successors and Assigns.  This Agreement shall be binding upon and
          inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns; provided, however, that no Member may
          Transfer all or any part of its rights or Company Interest or any interest under this Agreement except in accordance with Article X.

         

        Section 12.10      Arbitration.  Any dispute arising out of or relating to this
          Agreement or the Company, including claims sounding in contract, tort, statutory or otherwise (a “Dispute”), shall be settled exclusively and finally by arbitration in accordance with this Section 12.10.

         

        (a)          Rules and Procedures.  Such arbitration shall be administered by JAMS, a national dispute resolution company (“JAMS”), pursuant to (i) the JAMS Streamlined Arbitration Rules and Procedures, if the amount in controversy is $500,000 or less, or (ii) the JAMS Comprehensive Arbitration Rules and Procedures, if the
          amount in controversy exceeds $500,000 (each, as applicable, the “Rules”).  The making, validity, construction, and interpretation of this Section 12.10,
          and all procedural aspects of the arbitration conducted pursuant hereto, shall be decided by the arbitrator(s).  For purposes of this Section 12.10, “amount
              in controversy” means the stated amount of the claim, not

         

        

        
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        including interest or attorneys’ fees, plus the stated amount of any counterclaim, not including interest or attorneys’ fees.  If the claim or counterclaim seeks a form of relief other than
          damages, such as injunctive or declaratory relief, it shall be treated as if the amount in controversy exceeds $250,000, unless all parties to the Dispute otherwise agree.

         

        (b)          Discovery.  Discovery shall be allowed only to the extent permitted by the Rules.

         

        (c)          Time and Place.  All arbitration proceedings hereunder shall be conducted in Denver, Colorado or such other
          location as all parties to the Dispute may agree.  Unless good cause is shown or all parties to the Dispute otherwise agree, the hearing on the merits shall be conducted within one hundred and eighty (180) days of the initiation of the
          arbitration, if the arbitration is being conducted under the JAMS Streamlined Arbitration Rules and Procedures, or within two hundred and seventy (270) days of the initiation of the arbitration, if the arbitration is being conducted under the
          JAMS Comprehensive Arbitration Rules.  However, it shall not be a basis to challenge the outcome or result of the arbitration proceeding that it was not conducted within the specified timeframe, nor shall the failure to conduct the hearing within
          the specified timeframe in any way waive the right to arbitration as provided for herein.

         

        (d)          Arbitrators.

         

        (i)          If the amount in controversy is $500,000 or less, the arbitration shall be before a single arbitrator selected by JAMS in
          accordance with the Rules.

         

        (ii)         If the amount in controversy is more than $500,000, the arbitration shall be before a panel of three arbitrators,
          selected in accordance with this paragraph.  The party initiating the arbitration shall designate, with its initial filing, its choice of arbitrator.  Within thirty (30) days of the notice of initiation of the arbitration procedure, the opposing
          party to the Dispute shall select one arbitrator.  If any party to the Dispute shall fail to select an arbitrator within the required time, JAMS shall appoint an arbitrator for that party.  In the event that the Dispute involves three or more
          parties, JAMS shall determine the parties’ alignment pursuant to Rule 15 and each “side” shall have the right to appoint one arbitrator as provided above.  The two arbitrators so selected shall select a
          third arbitrator, failing agreement on which, the third arbitrator shall be selected in accordance with JAMS Rule 15.  Notwithstanding that each party may select an arbitrator, all arbitrators (whether selected by the parties, JAMS or otherwise)
          shall be independent and shall disclose any relationship that he or she may have with any party to the Dispute at the time of their respective appointment.  All arbitrators shall be subject to challenge for cause under JAMS Rule 15.  In the event
          that any party-selected arbitrator is struck for cause, JAMS shall appoint the replacement arbitrator.

         

        (e)        Waiver of Certain Damages.  Notwithstanding any other provision in this Agreement to the contrary, the Company and
          the Members expressly agree that the arbitrators shall have absolutely no authority to award consequential, incidental, special, treble, exemplary or punitive damages of any type under any circumstances regardless of

         

        

        
          61

          
            

        

        whether such damages may be available under Delaware law, or any other laws, or under the Federal Arbitration Act or the Rules, unless such damages are a part of a third party claim for which a
          Member is entitled to indemnification hereunder.

         

        (f)          Limitations on Arbitrators.  The arbitrators shall have authority to interpret and apply the terms and conditions
          of this Agreement and to order any remedy allowed by this Agreement, including specific performance of the Agreement, but may not change any term or condition of this Agreement, deprive any Member of a remedy expressly provided hereunder, or
          provide any right or remedy that has been excluded hereunder.

         

        (g)          Form of Award.  The arbitration award shall conform with the Rules, but also contain a certification by the
          arbitrators that, except as permitted by Section 12.10(e), the award does not include any consequential, incidental, special, treble, exemplary or punitive damages.

         

        (h)          Fees and Awards.  The fees and expenses of the arbitrator(s) shall be borne equally by each side to the Dispute,
          but the decision of the arbitrators(s) may include such award of the arbitrators’ expenses and of other costs to the prevailing side as the arbitrator(s) may determine.  In addition, the prevailing party shall be entitled to an award of its
          attorneys’ fees and interest.

         

        (i)          Binding Nature.  The decision and award shall be binding upon all of the parties to the Dispute and final and
          nonappealable to the maximum extent permitted by law, and judgment thereon may be entered in a court of competent jurisdiction and enforced by any party to the Dispute as a final judgment of such court.

         

        (j)          Applicability.  Notwithstanding any provision to the contrary contained in this Agreement, this Section 12.10
          shall not apply to any dispute arising under or related to the CORR Purchase Agreement.

         

        Section 12.11          Legal Representation.

         

        (a)          Each Member hereby acknowledges and agrees that:

         

        (i)          Husch Blackwell LLP represents CORR in the preparation of this Agreement and expressly does not represent any other party hereto in connection with this Agreement,
          and the other parties hereby expressly waive any conflict of interest that may arise from such representation; and

         

        (ii)          A conflict may exist between such Member’s interest and those of the Company and the other Members;

         

        (iii)         Such Member has had the opportunity to seek the advice of independent legal counsel to review the legal, tax and economic terms of this Agreement on his, her or
          its behalf prior to executing this Agreement; and

         

        (iv)         This Agreement has tax consequences and such tax consequences may be different for each party.

         

        
          62

          
            

        

        (b)          Each Member hereby acknowledges and agrees that:

         

        (i)          Lewis, Ringelman & Fanyo P.C. represents the Grier Members in the preparation of this Agreement and expressly does not represent any other party hereto in
          connection with this Agreement, and the other parties hereby expressly waive any conflict of interest that may arise from such representation; and

         

        (ii)          A conflict may exist between such Member’s interest and those of the Company and the other Members;

         

        (iii)         Such Member has had the opportunity to seek the advice of independent legal counsel to review the legal, tax and economic terms of this Agreement on his, her or
          its behalf prior to executing this Agreement; and

         

        (iv)         This Agreement has tax consequences and such tax consequences may be different for each party.

         

        Section 12.12          Counterparts.  This Agreement may be executed in one or more
          counterparts, each of which shall be an original and all of which shall constitute but one and the same document.

         

        [Signature Pages of the Company, Members and Managers Attached]

         

        
          63

          
            

        

        IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

         

        	
                COMPANY:

                Crimson Midstream Holdings, LLC,

                a Delaware limited liability company

              	 
	 	 	 

        	
                By:

              	
                /s/ John D. Grier

              	 

        	
                Name: John D. Grier

              
	
                Title: Manager

              

        

        

        [Signature Pages Continued on Next Page]

        

        

        
          [Signature Page to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC]

        

        

        

        
          
            

        

        	
                MEMBERS:

              	 	

              
	 	 	 

        	By:	
                /s/ John D. Grier

              	 	By:	
                /s/ M. Bridget Grier

              

        	
                Name: John D. Grier

              	 	
                Name: M. Bridget Grier

              
	
                Title: Individually and as Trustee of the

                Bridget Grier Spousal Support Trust

                dated December 18, 2012

              	 	
                Title: Individually

              

        

        

        	
                /s/ John D. Grier

              	 	
                CorEnergy Infrastructure Trust, Inc.,

                a Maryland corporation

              
	
                John D. Grier

              
	 	 	By:	
                /s/ David J. Schulte

              
	 	 	
                

                

              	
                Name: David J. Schulte

              
	 	 	
                

                

              	
                Title: Executive Chairman, CEO and President

              

         

        

        
          [Signature Page to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC]

        

         

        

        
          
            

        

        Exhibit A

        to

         

        

        Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

         

        Members, Capital Contributions, Sharing Ratios

        (as of the Effective Date)

         

        	
                Member

              	
                Capital

                Accounts

              	
                Class A-1

                Units

              	
                Class A-2

                Units

              	
                Class A-3

                Units

              	
                Class B-1

                Units

              	
                Class A-1

                Sharing Ratio

              	
                Class A-2

                    Sharing Ratio

              	
                Class A-3

                Sharing Ratio

              	
                Class B-1

                Sharing Ratio

              	
                Class

                C-1 Units

              	
                Class C-1

                Sharing Ratio

              
	
                John D. Grier

              	
                $80,058,566

              	
                1,081,663.6

              	
                1,663,355.7

              	
                1,642,838.3

              	
                ~

              	
                67.05%

              	
                67.05%

              	
                67.05%

              	
                ~

              	
                338,606.2

              	
                33.86%

              
	
                M. Bridget Grier

              	
                31,858,977

              	
                430,443.6

              	
                649,987.2

              	
                653,760.8

              	
                ~

              	
                26.68%

              	
                26.68%

              	
                26.68%

              	
                ~

              	
                134,746.9

              	
                13.47%

              
	
                The Bridget Grier Spousal Support Trust dated December 18, 2012

              	
                1,957,884

              	
                26,452.8

              	
                39,944.8

              	
                40,176.7

              	
                ~

              	
                1.64%

              	
                1.64%

              	
                1.64%

              	
                ~

              	
                8,280.8

              	
                0.83%

              
	
                The Hugh David Grier Trust dated October 15, 2012

              	
                2,762,286

              	
                37,321.0

              	
                56,356.2

              	
                56,683.4

              	
                ~

              	
                2.31%

              	
                2.31%

              	
                2.31%

              	
                ~

              	
                11,683.0

              	
                1.17%

              
	
                The Samuel Joseph Grier Trust dated October 15, 2012

              	
                2,762,286

              	
                37,321.0

              	
                56,356.2

              	
                56,683.4

              	
                ~

              	
                2.31%

              	
                2.31%

              	
                2.31%

              	
                ~

              	
                11,683.0

              	
                1.17%

              
	
                CorEnergy Infrastructure Trust, Inc.

              	
                117,000,000

              	
                ~

              	
                ~

              	
                ~

              	
                10,000

              	
                ~

              	
                ~

              	
                ~

              	
                100.00%

              	
                495,000

              	
                49.50%

              
	
                TOTAL:

              	
                $236,400,000

              	
                1,613,202.0

              	
                2,436,000.0

              	
                2,450,142.5

              	
                10,000

              	
                100.00%

              	
                100.00%

              	
                100.00%

              	
                100.00%

              	
                1,000,000

              	
                100.00%

              

        

        

        
          Exhibit A to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

        

        

        

        
          
            

        

        Exhibit B

        to

         

        

        Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

         

        Grier Companies

         

        Crimson Renewable Energy, L.P.

        Delta Trading, L.P.

        Millux Holdings LLC

        Pike Capital, LLC

        Pikes Capital, LLC

        Crimson Environmental, LLC

        C Gulf Holdings, LLC and its Subsidiaries

        CorEnergy Infrastructure Trust, Inc.

        
          

          

          Exhibit B to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

          

        

        
          
            

        

        Exhibit C

        to

         

        

        Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

         

        Form of Fourth Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

        

        

        
          Exhibit C to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

        

         

        

        
          
            Exhibit C

            Form Final

             

            

          

          FOURTH AMENDED AND RESTATED

           

          LIMITED LIABILITY COMPANY AGREEMENT

           

          CRIMSON MIDSTREAM HOLDINGS, LLC

           

          Dated:                  , 2021

           

          
            
              

          

          
          TABLE OF CONTENTS

           

          	 	 	
                  Page

                
	 	 	 
	
                  ARTICLE I. FORMATION AND CONTINUATION OF THE COMPANY

                	
                  1

                
	
                  Section 1.1

                	
                  Formation and Continuation

                	
                  1

                
	
                  Section 1.2

                	
                  Name

                	
                  1

                
	
                  Section 1.3

                	
                  Business

                	
                  2

                
	
                  Section 1.4

                	
                  Places of Business; Registered Agent

                	
                  2

                
	
                  Section 1.5

                	
                  Term

                	
                  2

                
	
                  Section 1.6

                	
                  Filings

                	
                  2

                
	
                  Section 1.7

                	
                  Title to Company Property

                	
                  2

                
	
                  Section 1.8

                	
                  No Payments of Individual Obligations

                	
                  2

                
	 	 	 
	
                  ARTICLE II. DEFINITIONS AND REFERENCES

                	
                  3

                
	
                  Section 2.1

                	
                  Defined Terms

                	
                  3

                
	
                  Section 2.2

                	
                  References and Titles

                	
                  19

                
	 	 	 
	
                  ARTICLE III. CAPITALIZATION

                	
                  19

                
	
                  Section 3.1

                	
                  Classes and Series of Company Interests

                	
                  19

                
	
                  Section 3.2

                	
                  Issuances of Additional Securities

                	
                  20

                
	
                  Section 3.3

                	
                  Capital Contributions

                	
                  21

                
	
                  Section 3.4

                	
                  Return of Contributions

                	
                  21

                
	 	 	 
	
                  ARTICLE IV. ALLOCATIONS AND DISTRIBUTIONS

                	
                  21

                
	
                  Section 4.1

                	
                  Allocations of Net Profits and Net Losses

                	
                  21

                
	
                  Section 4.2

                	
                  Special Allocations

                	
                  22

                
	
                  Section 4.3

                	
                  Distributions

                	
                  24

                
	
                  Section 4.4

                	
                  Income Tax Allocations

                	
                  27

                
	 	 	 
	
                  ARTICLE V. MANAGEMENT AND RELATED MATTERS

                	
                  28

                
	
                  Section 5.1

                	
                  Power and Authority of Board

                	
                  28

                
	
                  Section 5.2

                	
                  Duties of Managers

                	
                  29

                
	
                  Section 5.3

                	
                  Officers

                	
                  30

                
	
                  Section 5.4

                	
                  Acknowledged and Permitted Activities

                	31
	
                  Section 5.5

                	
                  Tax Elections and Status

                	
                  32

                
	
                  Section 5.6

                	
                  Tax Returns

                	
                  32

                
	
                  Section 5.7

                	
                  Tax Matters Member

                	32
	
                  Section 5.8

                	
                  Budget Act

                	33
	
                  Section 5.9

                	
                  Budgets

                	
                  35

                
	 	 	 
	
                  ARTICLE VI. INDEMNIFICATION

                	
                  36

                
	
                  Section 6.1

                	
                  General

                	
                  36

                
	
                  Section 6.2

                	
                  Indemnification of Officers, Employees (if any) and Agent

                	
                  37

                
	
                  Section 6.3

                	
                  Non-exclusivity of Rights; Insurance

                	
                  37

                
	
                  Section 6.4

                	
                  Savings Clause

                	
                  37

                
	
                  Section 6.5

                	
                  Scope of Indemnity

                	37

          

          

          
            i

            
              

          

          	
                  Section 6.6

                	
                  Other Indemnities

                	
                  38

                
	
                  Section 6.7

                	
                  Replacement of Fiduciary Duties

                	
                  38

                
	
                  Section 6.8

                	
                  Liability of Indemnitees.

                	
                  38

                
	
                  Section 6.9

                	
                  Standards of Conduct and Modification of Duties.

                	
                  39

                
	 	 	 
	
                  ARTICLE VII. RIGHTS OF MEMBERS

                	
                  40

                
	
                  Section 7.1

                	
                  General

                	
                  40

                
	
                  Section 7.2

                	
                  Limitations on Members

                	
                  40

                
	
                  Section 7.3

                	
                  Liability of Members

                	
                  40

                
	
                  Section 7.4

                	
                  Withdrawal and Return of Capital Contributions

                	
                  40

                
	
                  Section 7.5

                	
                  Voting Rights

                	40
	 	 	 
	
                  ARTICLE VIII. BOOKS, REPORTS, MEETINGS AND CONFIDENTIALITY

                	
                  41

                
	
                  Section 8.1

                	
                  Capital Accounts, Books and Records

                	
                  41

                
	
                  Section 8.2

                	
                  Bank Accounts

                	
                  42

                
	
                  Section 8.3

                	
                  Reports

                	
                  42

                
	
                  Section 8.4

                	
                  Meetings of Members

                	
                  45

                
	 	 	 
	
                  ARTICLE IX. DISSOLUTION, LIQUIDATION AND TERMINATION

                	
                  45

                
	
                  Section 9.1

                	
                  Dissolution

                	
                  45

                
	
                  Section 9.2

                	
                  Liquidation and Termination

                	
                  45

                
	 	 	 
	
                  ARTICLE X. TRANSFERS OF COMPANY INTERESTS

                	
                  48

                
	
                  Section 10.1

                	
                  Transfer of Company Interests

                	
                  48

                
	
                  Section 10.2

                	
                  Class A Members Voluntary Exchange Rights.

                	
                  49

                
	
                  Section 10.3

                	
                  Management Member Termination Exchange Rights

                	
                  50

                
	 	 	 
	
                  ARTICLE XI. REPRESENTATIONS AND WARRANTIES

                	
                  52

                
	 	 
	
                  ARTICLE XII. MISCELLANEOUS

                	
                  54

                
	
                  Section 12.1

                	
                  Notices

                	
                  54

                
	
                  Section 12.2

                	
                  Amendment

                	
                  55

                
	
                  Section 12.3

                	
                  Second Closing.

                	
                  56

                
	
                  Section 12.4

                	
                  Partition

                	
                  56

                
	
                  Section 12.5

                	
                  Entire Agreement

                	
                  56

                
	
                  Section 12.6

                	
                  Severability

                	
                  56

                
	
                  Section 12.7

                	
                  No Waiver

                	
                  56

                
	
                  Section 12.8

                	
                  Applicable Law

                	
                  56

                
	
                  Section 12.9

                	
                  Successors and Assigns

                	
                  56

                
	
                  Section 12.10

                	
                  Arbitration

                	
                  57

                
	
                  Section 12.11

                	
                  Legal Representation

                	
                  58

                
	
                  Section 12.12

                	
                  Counterparts

                	
                  59

                

          

          

          	
                  INDEX TO EXHIBITS

                
	 	 
	
                  Exhibit A

                	
                  Members, Capital Contributions, Sharing Ratios

                
	
                  Exhibit B

                	
                  Grier Companies

                

          
            ii

            
              

          

          FOURTH AMENDED AND RESTATED

          LIMITED LIABILITY COMPANY AGREEMENT

          CRIMSON MIDSTREAM HOLDINGS, LLC

           

          THIS FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”),
            dated effective as of the date of the CPUC Approval (defined below) (the “Effective Date”), is made by and among:

           

          	

                	•	
                  Crimson Midstream Holdings, LLC, a Delaware limited
                      liability company (the “Company”);

                

           

          	

                	•	
                  CorEnergy Infrastructure Trust, Inc., a Maryland
                      corporation (“CORR”);

                

           

          	

                	•	
                  John D. Grier and M. Bridget Grier, individually, as Members of the Company;

                

           

          	

                	•	
                  John D. Grier, as Trustee of the Bridget Grier Spousal
                      Support Trust dated December 18, 2012;  Robert G. Lewis, as Trustee of the Hugh David Grier Trust dated October 15, 2012; and Robert G. Lewis, as Trustee of the Samuel Joseph Grier Trust dated October 15, 2012 (collectively, the “Grier Trusts”
                      and, together with John D. Grier and M. Bridget Grier, the “Grier Members”), as Members of the Company;

                

           

          	

                	•	
                  the Management Members (as defined in this Agreement);
                      and

                

           

          	

                	•	
                  any other Person executing this Agreement as a Member.

                

           

          ARTICLE I. FORMATION AND CONTINUATION OF THE COMPANY

           

          Section 1.1          Formation and Continuation.  The parties
              hereto desire to establish this Agreement to govern and continue the Company as a limited liability company under the provisions of the Delaware Limited Liability Company Act, as amended from time to time, and any successor statute or
              statutes (the “Act”).  The Company was formed upon the execution and filing by the organizer (such Person
              being hereby authorized to take such action) with the Secretary of State of the State of Delaware of the Certificate of Formation of the Company effective on December 3, 2015, and shall be continued pursuant to the terms of this Agreement. 
              This Agreement shall amend and restate in all respects that certain Third Amended and Restated Limited Liability Company Agreement of the Company, dated effective as of February  __, 2021 (the “Prior Agreement”), and such Prior Agreement shall be of no force or effect after the Effective Date.

           

          Section 1.2          Name.  The name of the Company shall be Crimson Midstream Holdings, LLC.  Subject to
            all applicable laws, the business of the Company shall be conducted in the name of the Company unless under the law of some jurisdiction in which the Company does business such business must be conducted under another name or unless the Board
            determines that it is advisable to conduct Company business under another name.  In such a case, the business of the Company in such jurisdiction or in connection with such determination may be conducted under such other name or names as the
            Board shall determine to be necessary.  The Board shall cause to

           

          

          
            1

            
              

          

           be filed on behalf of the Company such assumed or fictitious name certificate or certificates or similar instruments as may from time to time be required by law.

           

          Section 1.3          Business.  The business of the Company shall be, whether directly or indirectly
            through Subsidiaries, to conduct all activities permissible by applicable law.

           

          Section 1.4          Places of Business; Registered Agent.

           

          (a)         The address of the principal office and place of business of the Company is 1801 California Street, Suite 3600, Denver, CO 80202.  The Board, at any time and from time to time, may change the location of the Company’s principal place
              of business upon giving prior written notice of such change to the Members and may establish such additional place or places of business of the Company as the Board shall determine to be necessary or desirable.

           

          (b)         The registered office of the Company in the State of Delaware shall be and it hereby is, established and maintained at 1209 Orange Street, Wilmington, DE 19801, and the registered agent for service of process on the Company shall be
              The Corporation Trust Company.  The Board, at any time and from time to time, may change the Company’s registered office or registered agent or both by complying with the applicable provisions of the Act, and may establish, appoint and change
              additional registered offices and registered agents of the Company in such other states as the Board shall determine to be necessary or advisable.

           

          Section 1.5         Term.  The existence of the Company commenced on the date the Certificate of Formation
            of the Company was filed with the Secretary of State of the State of Delaware and shall continue in existence until it is liquidated or dissolved in accordance with this Agreement and the Act.

           

          Section 1.6       Filings.  Upon the request of the Board, the Members shall promptly execute and deliver
            all such certificates and other instruments conforming hereto as shall be necessary for the Board to accomplish all filings, recordings, publishings and other acts appropriate to comply with all requirements for the formation and operation of a
            limited liability company under the laws of the State of Delaware and for the qualification and operation of a limited liability company in all other jurisdictions where the Company shall propose to conduct business.  Prior to conducting
            business in any jurisdiction, the Board shall use its reasonable efforts to cause the Company to comply with all requirements for the qualification of the Company to conduct business as a limited liability company in such jurisdiction.

           

          Section 1.7          Title to Company Property.  All property owned by the Company, whether real or
            personal, tangible or intangible, shall be deemed to be owned by the Company as an entity, and no Member, individually, shall have any ownership of such property.  The Company may hold its property in its own name or in the name of a nominee
            which may be the Board or any trustee, agent or Affiliate of the Company designated by the Board.

           

          Section 1.8         No Payments of Individual Obligations.  The Members shall use the Company’s credit and
            assets solely for the benefit of the Company.  No asset of the Company shall be Transferred for or in payment of any individual obligation of any Member.

           

            

          
            2

            
              

          

          ARTICLE II. DEFINITIONS AND REFERENCES

           

          Section 2.1          Defined Terms.  When used in this Agreement, the following terms shall have the
            respective meanings set forth below:

           

          “Act” shall have the meaning assigned to such term in Section 1.1.

           

           “Adjusted Capital Account” shall mean the Capital Account
            maintained for each Member as provided in Section 8.1(b) as of the end of each fiscal year, (a)
            increased by an amount equal to such Member’s allocable share of Minimum Gain as computed as of the last day of such fiscal year in accordance with the applicable Treasury Regulations, and (b) reduced by the adjustments provided for in Treasury
            Regulations Section 1.704-1(b)(2)(ii)(d)(4)-(6).

           

          “Adjusted Property” shall mean any property the Carrying Value
            of which has been adjusted pursuant to Section 8.1(b)(v) or any property that has a Carrying Value
            different than the adjusted tax basis at the time of a Capital Contribution by a Capital Member.

           

          “Adjusted Tax Member” shall have the meaning assigned to such
            term in Section 5.8(c).

           

          “Adjustment Factor for the Class A-1 Units” shall mean 1.0 for
            the Class A-1 Units; provided, however, that in the event that CORR, prior to the CORR Series C Exchange (a) declares or
            pays a dividend on its outstanding CORR Series C Preferred Stock, wholly or partly in such CORR Series C Preferred Stock, or makes a distribution to all holders of its outstanding CORR Series C Preferred Stock wholly or partly in CORR Series C
            Preferred Stock, (b) splits or subdivides its outstanding CORR Series C Preferred Stock, or (c) effects a reverse stock split or otherwise combines its outstanding CORR Series C Preferred Stock into a smaller number of CORR Series C Preferred
            Stock, respectively, the Adjustment Factor for the Class A-1 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-1 Units previously in effect by a fraction, the numerator of which shall be the number of CORR Series C
            Preferred Stock, issued and outstanding on the record date for such dividend, distribution, split, subdivision, reverse split or combination (assuming for such purposes that such dividend, distribution, split, subdivision, reverse split or
            combination has occurred as of such time), and the denominator of which shall be the actual number of CORR Series C Preferred Stock (determined without the above assumption) issued and outstanding on such date and, provided further, that if CORR shall merge, consolidate or combine with any entity other than an Affiliate of CORR (the “Surviving

                Company”), the Adjustment Factor for the Class A-1 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-1 Units by the number of shares of the Surviving Company into which one share of the CORR Series C
            Preferred Stock is converted pursuant to such merger, consolidation or combination, determined as of the date of such merger, consolidation or combination.  Subsequent to the CORR Series C Exchange, all references shall be to the CORR Series A
            Preferred Stock instead of to the CORR Series C Preferred Stock.  Any adjustment to the Adjustment Factor for the Class A-1 Units shall become effective immediately after the effective date of such event retroactive to the record date, if any,
            for such event.

           

          “Adjustment Factor for the Class A-2 Units” shall mean 1.0 for
            the Class A-2 Units; provided, however, that in the event that CORR, prior to the Class A-2 Unit Conversion (a) declares
            or pays a dividend on its outstanding CORR Series B Preferred Stock wholly or partly

           

          

          
            3

            
              

          

           in such CORR Series B Preferred Stock or makes a distribution to all holders of its outstanding CORR Series B Preferred Stock wholly or partly in CORR Series B
            Preferred Stock, (b) splits or subdivides its outstanding CORR Series B Preferred Stock, or (c) effects a reverse stock split or otherwise combines its outstanding CORR Series B Preferred Stock into a smaller number of CORR Series B Preferred
            Stock, the Adjustment Factor for the Class A-2 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-2 Units previously in effect by a fraction, the numerator of which shall be the number of CORR Series B Preferred Stock
            issued and outstanding on the record date for such dividend, distribution, split, subdivision, reverse split or combination (assuming for such purposes that such dividend, distribution, split, subdivision, reverse split or combination has
            occurred as of such time), and the denominator of which shall be the actual number of CORR Series B Preferred Stock (determined without the above assumption) issued and outstanding on such date and, provided further, that if CORR shall merge, consolidate or combine with any Surviving Company, the Adjustment Factor for the Class A-2 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-2
            Units by the number of shares of the Surviving Company into which one share of CORR Series B Preferred Stock is converted pursuant to such merger, consolidation or combination, determined as of the date of such merger, consolidation or
            combination.  Any adjustment to the Adjustment Factor for the Class A-2 Units shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event.

           

          “Adjustment Factor for the Class A-3 Units” shall mean 1.0 for
            the Class A-3 Units; provided, however, that in the event that CORR (a) declares or pays a dividend on its outstanding
            CORR Common Stock wholly or partly in such CORR Common Stock, or makes a distribution to all holders of its outstanding CORR Common Stock wholly or partly in CORR Common Stock, (b) splits or subdivides its outstanding CORR Common Stock, or (c)
            effects a reverse stock split or otherwise combines its outstanding CORR Common Stock into a smaller number of CORR Common Stock, the Adjustment Factor for the Class A-3 Units shall be adjusted by multiplying the Adjustment Factor for the Class
            A-3 Units previously in effect by a fraction, the numerator of which shall be the number of CORR Common Stock, issued and outstanding on the record date for such dividend, distribution, split, subdivision, reverse split or combination (assuming
            for such purposes that such dividend, distribution, split, subdivision, reverse split or combination has occurred as of such time), and the denominator of which shall be the actual number of CORR Common Stock (determined without the above
            assumption) issued and outstanding on such date and, provided further, that if CORR shall merge, consolidate or combine with any Surviving Company, the Adjustment Factor
            for the Class A-3 Units shall be adjusted by multiplying the Adjustment Factor for the Class A-3 Units by the number of shares of the Surviving Company into which one share of the CORR Common Stock is converted pursuant to such merger,
            consolidation or combination, determined as of the date of such merger, consolidation or combination.  Any adjustment to the Adjustment Factor for the Class A-3 Units shall become effective immediately after the effective date of such event
            retroactive to the record date, if any, for such event.

           

          “Affiliate” (whether or not capitalized) shall mean, with
            respect to any Person:  (a) any other Person directly or indirectly owning, controlling or holding power to vote 10% or more of the outstanding voting securities of such Person, (b) any other Person 10% or more of whose outstanding voting
            securities are directly or indirectly owned, controlled or held with power to vote by such Person, (c) any other Person directly or indirectly controlling, controlled by or under common control with such Person, and (d) any officer, director,
            member, partner or immediate

           

          

          
            4

            
              

          

           family member of such Person or any other Person described in subsection (a), (b) or (c) of this paragraph.

           

          “Agreement” shall have the meaning assigned to such term in the
            introductory paragraph.

           

          “Approved Budget” shall have the meaning assigned to such term
            in Section 5.9.

           

          “Auditor’s Report” shall mean, with respect to financial
            statements or information of the Company required to be delivered, (a) the written report of the auditor for the Company with respect to such financial statements or information (excluding any auditor’s report on internal controls), manually
            executed by such auditor, and (b) a manually executed consent of such auditor to the inclusion of such auditor’s report (and any auditor consent with respect thereto) in filings to be made by CORR with the Securities and Exchange Commission.

           

          “Board” shall have the meaning assigned to such term in Section 5.1(a).

           

          “Budget Act” shall have the meaning assigned to such term in Section 5.8(a).

           

          “Budgeted Expenses” shall mean the aggregate of the (a) general
            and administrative expenses (including reasonable overhead expenses), (b) personnel and employees costs, (c) planned asset maintenance expenses, and (d) other major categories, in each case that are included in the Approved Budget; provided, that “Budgeted Expenses” does not include Non-Discretionary Capital expenses (and for purposes of clarity, costs and expenses contained in any Approved Budget that
            do not constitute Non-Discretionary Capital expenses shall constitute Budgeted Expenses).

           

          “Business Day” shall mean any day on which banks are generally
            open to conduct business in the State of Colorado and the State of New York.

           

          “Capital Account” shall have the meaning assigned to such term
            in Section 8.1(b).

           

          “Capital Contributions” shall mean for any Member at the
            particular time in question the aggregate of the dollar amounts of any cash, or the Fair Market Value of any property, contributed to the capital of the Company and its predecessors. The Capital Contributions made (or deemed to have been made)
            by each of the Members as of the Effective Date are set forth on Exhibit A.

           

          “Capital Members” shall mean all of the Members holding Class
            C-1 Units.

           

          “Carrying Value” shall mean with respect to any asset, the value
            of such asset as reflected in the Capital Accounts of the Members.  The Carrying Value of any asset shall be such asset’s adjusted basis for federal income tax purposes, except as follows:

           

          (a)         The initial
                Carrying Value of any asset contributed by a Member to the Company will be the Fair Market Value of the asset on the date of the contribution (with the Fair Market Value of contributions made as of the Effective Date as shown on Exhibit A);

           

          
            5

            
              

          

          (b)       The Carrying
                Value of all Company assets shall be adjusted to equal their respective Fair Market Values upon (i) the acquisition of an additional Company Interest by any new or existing Member in exchange for a Capital Contribution that is not de minimis; (ii) the distribution by the Company to a Member of Company property that is not de minimis
                as consideration for a Company Interest; (iii) the grant of a Company Interest that is not de minimis consideration for the performance of services to or for the
                benefit of the Company by any new or existing Member; (iv) the liquidation of the Company as provided in Section 9.2; (v) the acquisition of a Company Interest by any new or existing Member upon the exercise of a non-compensatory warrant or the making of any Capital Contribution in accordance with Treasury Regulations Section
                1.704-1(b)(2)(iv)(s), as such Treasury Regulation may be amended or modified; or (vi) any other event to the extent determined by the Board to be necessary to properly reflect Carrying Values in accordance with the standards set forth in
                Treasury Regulations Section 1.704-1(b)(2)(iv)(q), provided that any adjustments to the Capital Accounts of the Members shall be made as provided in Section 8.1(b)(v).  If any non-compensatory warrants (or similar interests) are outstanding upon the
                occurrence of an event described in clauses (i) through (vi) above, the Company shall adjust the Carrying Values of
                its properties in accordance with Treasury Regulations Sections 1.704-1(b)(2)(iv)(f)(1) and 1.704-1(b)(2)(iv)(h)(2), as such Treasury Regulations may be amended or modified;

           

          (c)         The Carrying
                Value of any Company asset distributed to any Member shall be adjusted to equal the Fair Market Value of such asset on the date of distribution;

           

          (d)         The Carrying
                Value of an asset shall be adjusted by Depreciation taken into account with respect to such asset for purposes of computing Net Profits, Net Losses and other items allocated pursuant to Section 8.1(b)(v); and

           

          (e)       The Carrying
                Value of Company assets shall be adjusted at such other times as required in the applicable Treasury Regulations.

           

          “Change of Control” shall mean the occurrence of any of the
            following:  (i) the consummation of any transaction (including any merger or consolidation) the result of which is that one or more Third Parties (other than a Subsidiary of the Company) become the beneficial owner of more than 50% of the
            Company Interests; (ii) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the Company’s assets and
            the assets of its Subsidiaries, taken as a whole, to one or more Third Parties; provided, however,
            that none of the circumstances in this clause (ii) shall be a Change of Control if the Persons that beneficially own the Company Interests immediately prior to the transaction own,
            directly or indirectly, equity interests with a majority of the total voting power of all of the issued and outstanding equity interests of the surviving entity or transferee Person immediately after the transaction or (iii) the Company
            consolidates with, or merges with or into, any Third Party or any such Third Party consolidates with, or merges with or into, the Company, in either case, pursuant to a transaction in which any of the Company’s issued and outstanding equity
            interests or the equity interests of such other Third Party is converted into or exchanged for cash, securities or other property, other than pursuant to a transaction in which the Company Interests issued and outstanding immediately prior to
            the transaction constitute, or are converted into or exchanged for, a majority of the equity

           

          

          
            6

            
              

          

           securities of the surviving Person immediately after giving effect to such transaction; provided, that for the avoidance of doubt neither an IPO nor reorganization of an IPO vehicle, the Company or any of its Subsidiaries shall constitute a Change of Control.

           

          “Class A Members” shall mean the Class A-1 Members, Class A-2
            Members, and Class A‐3 Members, collectively.

           

          “Class A-1 Member” shall mean a Member holding Class A-1 Units.

           

          “Class A-1 Sharing Ratio” shall mean, with respect to a Class
            A-1 Member, the number of Class A-1 Units held by such Class A-1 Member divided by the total number of Class A-1 Units outstanding, in each case as of the relevant date
            of determination. The Class A-1 Sharing Ratios of each Class A-1 Member as of the Effective Date are set forth on Exhibit A.

           

          “Class A-1 Units” shall mean that class of Company Interests
            issued to those Members set forth on Exhibit A in the amounts set forth thereon, and to such other Persons after the Effective Date in accordance with this Agreement, representing an
            interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and limitations specified with respect to Class A-1 Units in this Agreement.

           

          “Class A-1 Unit Exchange” shall mean the exchange, at the
            election of a Class A-1 Member, of one or more Class A-1 Units into CORR Series C Preferred Stock or CORR Series A Preferred as described in Section 10.2(a)(i).

           

          “Class A‐2 Unit Conversion” shall mean the automatic conversion
            of Class A‐2 Units to Class A‐3 Units, which shall occur contemporaneously with the effective date of the “Mandatory Conversion” as that term is defined in the Articles Supplementary for the CORR Series B Preferred Stock.

           

          “Class A-2 Member” shall mean a Member holding Class A-2 Units.

           

          “Class A-2 Sharing Ratio” shall mean, with respect to a Class
            A-2 Member, the number of Class A-2 Units held by such Class A-2 Member divided by the total number of Class A-2 Units outstanding, in each case as of the relevant date
            of determination. The Class A-2 Sharing Ratios of each Class A-2 Member as of the Effective Date are set forth on Exhibit A.

           

          “Class A-2 Units” shall mean that class of Company Interests
            issued to those Members set forth on Exhibit A in the amounts set forth thereon, and to such other Persons after the Effective Date in accordance with this Agreement, representing an
            interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and limitations specified with respect to Class A-2 Units in this Agreement.

           

          “Class A-2 Unit Exchange” shall mean the exchange, at the
            election of a Class A-2 Member, of one or more Class A-2 Units into CORR Series B Preferred Stock, CORR Class B Common Stock, or CORR Common Stock as described in Section 10.2(a)(ii).

           

          “Class A-3 Member” shall mean a Member holding Class A-3 Units.

           

          

          
            7

            
              

          

          “Class A-3 Sharing Ratio” shall mean, with respect to a Class
            A-3 Member, the number of Class A-3 Units held by such Class A-3 Member divided by the total number of Class A-3 Units outstanding, in each case as of the relevant date
            of determination. The Class A-3 Sharing Ratios of each Class A-3 Member as of the Effective Date are set forth on Exhibit A.

           

          “Class A-3 Units” shall mean that class of Company Interests
            issued to those Members set forth on Exhibit A in the amounts set forth thereon, and to such other Persons after the Effective Date in accordance with this Agreement, representing an
            interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and limitations specified with respect to Class A-3 Units in this Agreement.

           

          “Class A-3 Unit Exchange” shall mean the exchange, at the
            election of a Class A-3 Member, of one or more Class A-3 Units into all CORR Class B Common Stock or CORR Common Stock as described in Section 10.2(a)(iii).

           

          “Class B Members” shall mean the Class B-1 Members and Class B-2
            Members, collectively.

           

          “Class B-1 Member” shall mean a Member holding Class B-1 Units.

           

          “Class B-1 Sharing Ratio” shall mean, with respect to a Class
            B-1 Member, the number of Class B-1 Units held by such Class B-1 Member divided by the total number of Class B-1 Units outstanding, in each case as of the relevant date
            of determination.  The Class B-1 Sharing Ratios of each Class B-1 Member as of the Effective Date are set forth on Exhibit A.

           

          “Class B-1 Units” shall mean that class of Company Interests
            issued to those Members set forth on Exhibit A in the amounts set forth thereon, and to such other Persons after the Effective Date in accordance with this Agreement, representing an
            interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and limitations specified with respect to Class B-1 Units in this Agreement.

           

           “Class B-2 Member” shall mean a Member holding Class B-2 Units.

           

          “Class B-2 Sharing Ratio” shall mean, with respect to a Class
            B-2 Member, the number of Class B-2 Units held by such Class B-2 Member divided by the total number of Class B-2 Units outstanding, in each case as of the relevant date
            of determination. The Class B-2 Sharing Ratios of each Class B-2 Member as of the Effective Date are set forth on Exhibit A.

           

          “Class B-2 Units” shall mean that class of Company Interests
            issued to those Members set forth on Exhibit A in the amounts set forth thereon, and to such other Persons after the Effective Date in accordance with this Agreement, representing an
            interest in profits, losses and distribution as set forth in this Agreement and having the rights, powers, obligations, restrictions and limitations specified with respect to Class B-2 Units in this Agreement.

           

          “Class C-1 Member” shall mean a Member holding Class C-1 Units.

           

          “Class C-1 Units” shall mean that class of Company Interests
            issued to those Members set forth on Exhibit A in the amounts set forth thereon, and to such other Persons after the Effective

           

          

          
            8

            
              

          

           Date in accordance with this Agreement, having the rights, powers, obligations, restrictions and limitations specified with respect to Class C-1 Units in this
            Agreement.  For the avoidance of doubt, the Class C-1 Units shall only represent Voting Interests, and shall not have a right to any share in the profits, losses or distributions of the Company.

           

          “Code” shall mean the Internal Revenue Code of 1986, as amended
            from time to time, and any successor statute or statutes.

           

          “Company Assets” shall mean all of the real and personal
            property, pipelines, equipment, and other physical assets owned and leased by the Company.

           

          “Company Interest” shall mean an ownership interest in the
            Company held by a Member and includes any and all benefits to which the holder of such a Company Interest may be entitled as provided in this Agreement, together with all obligations of such Member to comply with the terms and provisions of
            this Agreement.  There may be one or more classes or series of Company Interests created pursuant to Section 3.2. 

            The Company Interest may be expressed as a number of Class A-1 Units, Class A-2 Units, Class A-3 Units, Class B-1 Units, Class B-2, Class C-1 Units, or other Units.

           

          “Company Nonrecourse Liabilities” shall mean nonrecourse
            liabilities (or portions thereof) of the Company for which no Member bears the economic risk of loss in accordance with applicable Treasury Regulations.

           

          “Company Record Date” shall, in the case of the distribution of
            Distributable Funds pursuant to Section 4.3(b), generally be the same as the record date established by the CORR Board of Directors for a distribution to its stockholders, including
            pursuant to Sections 4.3(c)(i) and (ii).

           

          “Company Representative” shall have the meaning assigned to such term in Section 5.8.

           

          “Company Securities” shall have the meaning assigned to such
            term in Section 3.2(b).

           

          “Confidential Information” shall mean all proprietary and
            confidential information of the Company, including, without limitation, business opportunities of the Company, intellectual property, and any other information heretofore or hereafter acquired, developed or used by the Company relating to its
            business, including any confidential information contained in any lease files, land files, abstracts, title opinions, title or curative matters, contract files, memoranda, notes, records, drawings, correspondence, financial and accounting
            information, customer lists, statistical data and compilations, shipper information, patents, copyrights, trademarks, trade names, inventions, formulae, methods, processes, agreements, contracts, manuals, plats, surveys, geological and geophysical information, operational and production information and land information related to customers or potential customers of the Company or any other
            documents relating to the business of the Company, developed by, or originated by any third party and brought to the attention of, the Company.

           

          “CORR Common Stock” shall mean the common stock of CORR, $0.001 par value per share.

           

          

          
            9

            
              

          

          “CORR Securities” shall mean the CORR Common Stock, CORR Class B
            Common Stock, CORR Series B Preferred Stock, and the CORR Series C Preferred Stock.

           

          “CORR Class B Common Stock Conversion” shall mean the effective
            date of the “Mandatory Conversion,” as that term is used in the Articles Supplementary for the Class B Common Stock, of the CORR Class B Common Stock into CORR Common Stock.

           

          “CORR Class B Dividend Payment Date” shall mean the last
            calendar day of each February, May, August, and November of each year, commencing on May 31, 2021.

           

          “CORR Class B Dividend Payment Record Date” shall mean the date
            designated by the CORR Board of Directors pursuant to Section 4.3(c)(iii) for the payment of dividends that is not more than 30 or less than 10 days prior to the applicable CORR Class
            B Dividend Payment Date.

           

          “CORR Class B Common Stock” shall mean the Class B Common Stock
            of CORR, $0.001 for value per share, the terms of which shall be governed by the CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of Class B Common Stock.

           

          “CORR Series A Dividend Payment Date” shall mean the last
            calendar day of each February, May, August and November of each year, commencing on February 28, 2021.

           

          “CORR Series A Dividend Payment Record Date” shall mean the date
            designated by the CORR Board of Directors for the payment of dividends that is not more than 30 or less than 10 days prior to the applicable CORR Series A Dividend Payment Date.

           

          “CORR Series A Preferred Stock” shall mean the Series A Convertible Preferred Stock of CORR, $0.001 par value per share, the terms of which shall be governed by the CorEnergy Infrastructure Trust, Inc. Articles Supplementary
            Establishing and Fixing the Rights and Preferences Of Series A Convertible Preferred Stock.

           

          “CORR Series B Dividend Payment Date”
            shall mean the last calendar day of each February, May, August and November of each year, commencing on May 31, 2021.

           

          “CORR Series B Dividend Payment Record Date” shall mean the date
            designated by the CORR Board of Directors pursuant to Section 4.3(c)(ii) for the payment of dividends that is not more than 30 or less than 10 days prior to the applicable CORR Series
            B Dividend Payment Date.

           

          “CORR Series B Preferred Stock” shall mean the Series B Convertible Preferred Stock of CORR, $0.001 par value per share, the terms of which shall be governed by the CorEnergy Infrastructure Trust, Inc. Articles Supplementary
            Establishing and Fixing the Rights and Preferences Of Series B Redeemable Convertible Preferred Stock.

           

          “CORR Series C Dividend Payment Date” shall mean the last
            calendar day of each February, May, August and November of each year, commencing on May 31, 2021.

           

          

          
            10

            
              

          

          “CORR Series C Dividend Payment Record Date” shall mean the date
            designated by the CORR Board of Directors pursuant to Section 4.3(c)(i) for the payment of dividends that is not more than 30 or less than 10 days prior to the applicable CORR Series
            C Dividend Payment Date.

           

          “CORR Series C Exchange” shall mean the effective date of the “Exchange”, as that term is defined in the Articles Supplementary for the CORR Series C Preferred Stock, of the exchange of such Series C Preferred Stock to CORR Series A
            Preferred Stock.

           

          “CORR Series C Preferred Stock” shall mean the Series C Exchangeable Preferred Stock of CORR, $0.001 par value per share, the terms of which shall be governed by the CorEnergy Infrastructure Trust, Inc. Articles Supplementary
            Establishing and Fixing the Rights and Preferences Of Series C Exchangeable Preferred Stock.

           

          “CORR Transfer” shall have the meaning assigned to such term in
            Section 12.3(a).

           

          “Credit Agreement” shall mean that certain Amended and Restated Credit Agreement, dated as of February [3], 2021 (the “Credit Agreement”), by and among Crimson Midstream Operating, LLC, a Delaware limited liability company (“Crimson
            Operating”), Corridor MoGas, Inc., a Delaware corporation (“MoGas”, and together with Crimson Operating, the “Borrowers”, and each, individually, a “Borrower”), Crimson Midstream Holdings, LLC, a Delaware limited liability company
            (“Holdings”),  MoGas Debt Holdco LLC, a Delaware limited liability company (“MoGas HoldCo”), MoGas Pipeline LLC, a Delaware limited liability company (“MoGas Pipeline”), CorEnergy Pipeline Company, LLC, a Delaware limited liability company
            (“CorEnergy Pipeline”), United Property Systems, LLC, a Delaware limited liability company (“United Property”), Crimson Pipeline, LLC, a California limited liability company (“Crimson Pipeline”), Cardinal Pipeline, L.P., a California limited
            partnership (“Cardinal Pipeline”), the lenders party thereto, Wells Fargo Bank, National Association, in its individual capacity and as Administrative Agent (as defined in the Credit Agreement) for such lenders party thereto, Swingline Lender
            (as defined in the Credit Agreement) and Issuing Bank (as defined in the Credit Agreement), and the other parties from time to time party hereto.

           

          “Debt” shall mean, as to the Company and its Subsidiaries, all
            indebtedness, liabilities and obligations of such Person (excluding deferred taxes) whether primary or secondary, direct or indirect, absolute or contingent (a) for borrowed money, (b) constituting an obligation to pay the deferred purchase
            price of property, (c) evidenced by bonds, debentures, notes or similar instruments, (d) arising under futures contracts, swap contracts, commodity hedge agreements or similar speculative agreements, (e) arising under leases serving as a source
            of financing or otherwise capitalized in accordance with GAAP, (f) arising under conditional sales or other title retention agreements, (g) under direct or indirect guaranties of Debt of any Person or constituting obligations to purchase or
            acquire or to otherwise protect or insure a creditor against loss in respect of indebtedness of any Person (such as obligations under working capital maintenance agreements, agreements to keep-well, agreements to purchase Debt, assets, goods,
            securities or services, or take-or-pay agreements, but excluding endorsements in the ordinary course of business of negotiable instruments in the course of collection), (h) with respect to letters of credit or applications or reimbursement
            agreements therefor, or (i) with respect to payments received in consideration of oil, gas, or other minerals yet to be acquired at the time of payment (including obligations under “take-or-pay” contracts to deliver hydrocarbons in return for
            payments already

           

          

          
            11

            
              

          

           received and the undischarged balance of any production payment created by such Person or for the creation of which such Person directly or indirectly received
            payment) or with respect to other obligations to deliver goods or services in consideration of advance payments.

           

          “Depreciation” shall mean for each fiscal year or other period,
            an amount equal to the depreciation, amortization, or other cost recovery deduction allowable with respect to an asset for such year or other period, except that (a) if the Carrying Value of an asset differs from its adjusted basis for federal
            income tax purposes at the beginning of such year or other period and which difference is being eliminated by use of the “traditional method with curative allocations” pursuant to Treasury Regulations Section 1.704-3(c), with the curative
            allocations limited to allocations of depreciation and amortization, or such other method or methods as determined by the Board to be appropriate and in accordance with the applicable Treasury Regulations.  Depreciation for such tax period
            shall be the amount of book basis recovered for such tax period under the rules prescribed by Treasury Regulation Section 1.704-3(c), and (b) with respect to any other property the Carrying Value of which differs from its adjusted tax basis at
            the beginning of such tax period, Depreciation shall be an amount which bears the same ratio to such beginning Carrying Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such year or other tax
            period bears to such beginning adjusted tax basis; provided, that if the adjusted tax basis of any property at the beginning of such tax period is equal to zero dollars
            ($0.00), in which event Depreciation with respect to such property shall be determined under with reference to such beginning value using any reasonable method selected by the Board.

           

          “Designated Business Opportunity” shall mean any business
            opportunity related to renewable energy, including the production or transportation of biodiesel fuels and the gathering of related feedstock.

           

          “Dispute” shall have the meaning assigned to such term in Section 12.10.

           

          “Distributable Funds” shall mean the available cash of the
            Company in excess of the Liquidity Reserve and other requirements of the Company (including, without limitation, obligations under agreements evidencing Debt, which shall include the Credit Agreement), as determined by the Board.

           

          “Draft Budget” shall have the meaning assigned to such term in Section 5.9.

           

          “Emergency” shall mean a sudden or unexpected event that poses
            an imminent threat to health or property or risk of loss to property or risk of harm to the environment.

           

          “Excepted Liens” shall mean (i) liens for taxes, assessments or
            other governmental charges or levies not yet due or which are being contested in good faith by appropriate action and if reserves adequate under GAAP shall have been established therefor; (ii) legal or equitable encumbrances deemed to exist by
            reason of the existence of any litigation or any other legal proceeding or arising out of a judgment or award with respect to which an appeal is being prosecuted in good faith and if reserves adequate under GAAP shall have been established
            therefor; (iii) vendors’, carriers’, warehousemen’s, repairmen’s, mechanics’, workmen’s, materialmen’s construction or other like liens arising by operation of law in the ordinary course of business or incident to the construction or
            improvement of any property or operator and non-operator liens under joint operating

           

          

          
            12

            
              

          

           agreements in respect of obligations which are not yet due or which are contested in good faith by appropriate proceedings and if reserves adequate under GAAP
            shall have been established therefor; and (iv) servitudes, easements, restrictions, rights of way and other similar rights or liens in real or immovable property or any interest therein; provided, that the same do not materially impair the use of such property for the purposes for which it is held.

           

          “Excluded Business Opportunity” shall mean a business
            opportunity other than a business opportunity:

           

          (a)         that (i) has
                come to the attention of a Person solely in, and as a direct result of, its or his capacity as a director of, advisor to, principal of or employee of the Company or a Subsidiary of the Company, or (ii) was developed with the use or benefit
                of the personnel or assets of the Company, or a Subsidiary of the Company, and

           

          (b)         that has not
                been previously independently brought to the attention of the subject Person from a source that is not affiliated (other than through such subject Person) with the Company or a Subsidiary of the Company.

           

          “Fair Market Value” shall mean a good faith determination made
            by the Board of the cash value of specified asset(s) that would be obtained in a negotiated, arm’s length transaction between an informed and willing buyer and an informed and willing seller, with such buyer and seller being unaffiliated,
            neither such party being under any compulsion to purchase or sell, and without regard to the particular circumstances of either such party.  A determination of Fair Market Value by the Board shall be final and binding for all purposes of this
            Agreement and any other relevant Transaction Document.

           

          “GAAP” shall mean generally accepted accounting principles as
            applied in the United States of America in effect from time to time.

           

          “Governmental Authority” shall mean any federal, state, local or
            foreign government or political subdivision thereof, or any agency or instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental authority
            (to the extent that the rules, regulations or orders of such organization or authority have the force of law), or any arbitrator, court or tribunal of competent jurisdiction.

           

          “Grier Companies” shall have the meaning assigned to such term
            in Section 5.4(a).

           

          “Grier Members” shall have the meaning assigned to such term in
            the introductory section of this Agreement.

           

          “Grier Trusts” shall have the meaning assigned to such term in
            the introductory section of this Agreement.

           

          “Indemnitee” shall have the meaning assigned to such term in Section 6.1.

           

          “Indirect Transfer” shall mean (with respect to any Member that
            is a corporation, partnership, limited liability company or other entity) a deemed Transfer of a Company Interest,

           

          

          
            13

            
              

          

           which shall occur upon any Transfer of the ownership of, or voting rights associated with, the equity or other ownership interests in such Member.

           

          “IPO” shall mean the closing of a public offering of equity
            securities of the Company or any Subsidiary, registered under the Securities Act.

           

          “JAMS” shall have the meaning assigned to such term in Section 12.10(a).

           

          “Liquidity Reserve” shall have the meaning assigned to such term
            in Section 5.1(k).

           

          “Majority Board Approval” shall mean the approval by the
            affirmative vote of Managers representing a majority of the outstanding Voting Interests whether by vote at a regular or special meeting of the Board or by written proxy.

           

          “Majority Interest” shall mean with respect to the Members, as
            to any agreement, election, vote or other action of the Members, those Class C‐1 Members whose combined Voting Interest exceed 50%.

           

          “Management Members” shall mean John Grier, Larry Alexander,
            Robert Waldron, Nestor Taura, Valerie Jackson, Jerry Ashcroft, Chris Maudlin and David Allison.

           

          “Manager” and “Managers” shall have the meanings assigned to such terms in Section 5.1(a).

           

          “Member Nonrecourse Debt” shall mean any nonrecourse Debt of the
            Company for which any Member bears the economic risk of loss in accordance with applicable Treasury Regulations.

           

          “Member Nonrecourse Deductions” shall mean the amount of
            deductions, losses and expenses equal to the net increase during the year in Minimum Gain attributable to a Member Nonrecourse Debt, reduced (but not below zero) by proceeds of such Member Nonrecourse Debt distributed during the year to the
            Members who bear the economic risk of loss for such Debt, as determined in accordance with applicable Treasury Regulations.

           

          “Members” shall mean the Persons (including Class A-1 Members,
            Class A-2 Members, Class A-3 Members, Class B-1 Members, Class B-2 Members, and Class C-1 Members) who from time to time shall execute a signature page to this Agreement (including by counterpart) as the Members, including any Person who
            becomes a substituted Member of the Company pursuant to the terms hereof, or joins in this Agreement pursuant to a joinder agreement in a form approved by the Board.

           

          “Minimum Gain” shall mean (a) with respect to Company
            Nonrecourse Liabilities, the amount of gain that would be realized by the Company if the Company Transferred (in a taxable transaction) all Company properties that are subject to Company Nonrecourse Liabilities in full satisfaction of Company
            Nonrecourse Liabilities, computed in accordance with applicable Treasury Regulations, or (b) with respect to each Member Nonrecourse Debt, the amount of gain that would be realized by the Company if the Company Transferred (in a taxable
            transaction) the Company property that is subject to such Member Nonrecourse Debt in full satisfaction of such Member Nonrecourse Debt, computed in accordance with applicable Treasury Regulations.

           

          

          
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          “Net Profit” or “Net Loss” shall mean, with respect to any fiscal year or other fiscal period, the net income or net loss of the Company for such period, determined in accordance with federal income tax accounting principles
            and Code Section 703(a) (including any items that are separately stated for purposes of Code Section 702(a)), with the following adjustments:

           

          (a)          any income of
                the Company that is exempt from federal income tax shall be included as income;

           

          (b)       any expenditures
                of the Company that are described in Code Section 705(a)(2)(B) or treated as so described pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(i) shall be treated as current expenses;

           

          (c)         if Company
                assets are distributed to the Members in kind, such distributions shall be treated as sales of such assets for cash at their respective Fair Market Values in determining Net Profit and Net Loss;

           

          (d)       in the event the
                Carrying Value of any Company asset is adjusted as provided in this Agreement, the amount of such adjustment shall be taken into account as gain or loss upon the Transfer of such asset for purposes of computing Net Profit or Net Loss;

           

          (e)        gain or loss
                resulting from any Transfer of Company property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Carrying Value of the property Transferred, notwithstanding that the
                adjusted tax basis for such property differs from its Carrying Value;

           

          (f)        in lieu of the
                depreciation, amortization and other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such fiscal year or other period; and

           

          (g)         items
                specially allocated under Section 4.2 shall be excluded.

           

          “Non-Discretionary Capital” shall mean payments required to be
            made by the Company or any of its Subsidiaries to (a) protect the health and safety of Persons from immediate and present harm; (b) safeguard lives or property in connection with the initial response to any emergencies affecting any Company
            asset; (c) protect the environment from immediate and present harm; (d) make any repairs or capital improvements or take other action immediately required in the good faith judgment of the Board in order to avoid a violation of any laws,
            orders, rules, regulations and other requirements enacted, imposed or enforced by any Governmental Authority; (e) to repair, remediate, mitigate and provide reasonable contingencies for leaks or spills and/or any unplanned release of crude oil
            or other hydrocarbons to the extent such events were not included in the applicable Approved Budget; or (f) repair or replace any Company Assets that, if not repaired or replaced, would likely cause an unplanned outage that would likely
            materially impair the Company Assets or revenues of the Company.

           

          “Nonrecourse Deductions” shall have the meaning assigned to such
            term in Treasury Regulations Section 1.704-2(b).

           

          
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          “Permitted Transfer” or “Permitted Transferees” shall mean:

           

          (a)        any Transfer of
                a Company Interest by CORR, (whether voluntarily or by operation of law) to a partner, Affiliate or legal successor of CORR;

           

          (b)          any Transfer
                of a Company Interest to a Grier Trust;

           

          (c)         any Transfer
                of Company Interests, except for Class C-1 Units, by John D. Grier or M. Bridget Grier, in each case, to (i) his or her children or to an entity, including a trust, controlled by John D. Grier, in each case, for estate planning purposes, or
                (ii) an existing Member;

           

          (d)         any Transfer
                of a Company Interest by a Grier Member to a Management Member occurring pursuant to that certain Award Agreement dated as of [●], 2021; and

           

          (e)       any Transfer of
                a Company Interest occurring by operation of law upon the death or disability of a Member who is an individual.

           

          “Person” (whether or not capitalized) shall mean any natural
            person, corporation, company, limited or general partnership, joint stock company, joint venture, association, limited liability company, trust, bank, trust company, business trust or other entity or organization, whether or not a Governmental
            Authority.

           

          “Preferred Return Per Class A-1 Unit” means, with respect to
            each Class A-1 Unit outstanding on a specified Company Record Date (related to a CORR distribution) occurring prior to the CORR Series C Exchange, an amount initially equal to zero at the Effective Date, and increased cumulatively on each
            Company Record Date by an amount equal to the product of (i) the cash dividend per share of CORR Series C Preferred Stock declared by CORR for holders of CORR Series C Preferred Stock, including pursuant to Section 4.3(c)(i), on such Company Record Date, including any special distributions, multiplied by (ii) the Adjustment Factor for the Class A‐1 Units in effect on such Company Record Date; provided, however, that, for each Class A-1 Unit, the increase that shall occur in accordance with the foregoing on the first Company Record Date that occurs on or after the Effective Date shall
            be the foregoing product of (i) and (ii) above, multiplied by a fraction, the numerator of which shall be the number of days that such Class A-1 Unit was outstanding up to and including such first Company Record Date, and the denominator of
            which shall be the total number of days in the period from but excluding the immediately preceding Company Record Date to and including such first Company Record Date (related to a CORR distribution).  Subsequent to the CORR Series C Exchange,
            clause (i) above shall be deemed to refer to the dividend per share of CORR Series A Preferred Stock declared by CORR for holders of CORR Series A Preferred Stock.

           

          “Preferred Return Per Class A-2 Unit” means, with respect to
            each Class A-2 Unit outstanding on a specified Company Record Date (related to a CORR distribution occurring prior to CORR Class B Common Stock Conversion), an amount initially equal to zero at the Effective Date, and increased cumulatively on
            each Company Record Date by an amount equal to the product of (i) the cash dividend per share of CORR Series B Preferred Stock declared by CORR for holders of CORR Series B Preferred Stock, including pursuant to Section 4.3(c)(ii), on such Company Record Date, including any special distributions, multiplied by (ii) the Adjustment

           

          

          
            16

            
              

          

           Factor for the Class A-2 Units in effect on such Company Record Date; provided, however,
            that, for each Class A-2 Unit, the increase that shall occur in accordance with the foregoing on the first Company Record Date that occurs on or after the Effective Date shall be the foregoing product of (i) and (ii) above, multiplied by a
            fraction, the numerator of which shall be the number of days that such Class A-2 Unit was outstanding up to and including such first Company Record Date, and the denominator of which shall be the total number of days in the period from but
            excluding the immediately preceding Company Record Date to and including such first Company Record Date (related to a CORR distribution).

           

          “Preferred Return Per Class A-3 Unit” means, with respect to
            each Class A-3 Unit outstanding on a specified Company Record Date (related to a CORR distribution) occurring prior to a CORR Class B Common Stock Conversion, an amount initially equal to zero at the Effective Date, and increased cumulatively
            on each Company Record Date by an amount equal to the product of (i) the cash dividend per share of CORR Class B Common Stock declared by CORR for holders of CORR Class B Common Stock on such Company Record Date, including any special
            distributions, multiplied by (ii) the Adjustment Factor for the Class A-3 Units in effect on such Company Record Date; provided, however, that, for each Class A-3 Unit,
            the increase that shall occur in accordance with the foregoing on the first Company Record Date that occurs on or after the Effective Date shall be the foregoing product of (i) and (ii) above, multiplied by a fraction, the numerator of which
            shall be the number of days that such Class A-3 Unit was outstanding up to and including such first Company Record Date, and the denominator of which shall be the total number of days in the period from but excluding the immediately preceding
            Company Record Date to and including such first Company Record Date (related to a CORR distribution).  Subsequent to the CORR Class B Common Stock Exchange, clause (i) above shall be deemed to refer to the dividend per share of CORR Common
            Stock declared by CORR for holders of CORR Common Stock.

           

          “Preferred Return Per Class B-2 Unit” means, with respect to
            each Class B-2 Unit outstanding on a specified Company Record Date (related to a CORR distribution), an amount initially equal to zero at the Effective Date, and increased
            cumulatively on each Company Record Date by an amount equal to the product of (i) the cash dividend per share of CORR Series A Preferred Stock declared by CORR for holders of CORR Series A Preferred Stock, including on such Company Record Date,
            including any special distributions, multiplied by (ii) the Adjustment Factor for the Class B-2 Units in effect on such Company Record Date; provided, however, that, for
            each Class B-2 Unit, the increase that shall occur in accordance with the foregoing on the first Company Record Date that occurs on or after the Effective Date shall be the foregoing product of (i) and (ii) above, multiplied by a fraction, the
            numerator of which shall be the number of days that such Class B-2 Unit was outstanding up to and including such first Company Record Date, and the denominator of which shall be the total number of days in the period from but excluding the
            immediately preceding Company Record Date to and including such first Company Record Date (related to a CORR distribution).

           

          “Preferred Return Per CORR Common Stock” means with respect to
            each Class B-1 Unit Outstanding on a specified Company Record Date (related to a CORR distribution), an amount initially equal to zero at the Effective Date, and increased cumulatively on each Company Record Date by an amount equal to the cash
            dividend per share of CORR Common Stock declared by CORR for holders of CORR Common Stock.

           

          

          
            17

            
              

          

          “Regulatory Allocations” shall have the meaning assigned to such
            term in Section 4.2(e).

           

          “Rules” shall have the meaning assigned to such term in Section 12.10(a).

           

          “Securities Act” shall mean the Securities Act of 1933, as
            amended.

           

          “Sharing Ratio” shall mean, with respect to any Member, the
            number of Units owned by such Member divided by the total number of Units outstanding as of the
            relevant date of determination. The Sharing Ratios of the Members as of the Effective Date are set forth in Exhibit A.  The Sharing Ratio of each Member shall be adjusted in
            accordance with Section 3.1(d).

           

          “Subsidiary” or “Subsidiaries” with respect to any Person, any corporation, association, partnership, limited liability company, joint venture, or other business or corporate entity, enterprise or organization of which the
            management is directly or indirectly (through one or more intermediaries) controlled by such Person or 40% or more of the equity interests in which is directly or indirectly (through one or more intermediaries) owned by such Person.  Unless
            otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this
            Agreement shall refer to a Subsidiary or Subsidiaries of the Company.

           

          “Tax Adjustment” shall have the meaning assigned to such term in
            Section 5.8(c).

           

          “Tax Matters Member” shall have the meaning assigned to such
            term in Section 5.7.

           

          “Third Party” shall mean any Person (other than a Member, the
            Company and its Subsidiaries, and any transferee receiving Company Interests pursuant to a Permitted Transfer).

           

          “Transfer” or any derivation thereof, shall mean any sale,
            assignment, conveyance, mortgage, pledge, granting of security interest in, or other disposition of a Company Interest or any asset of the Company, as the context may require.

           

          “Treasury Regulation(s)” shall mean regulations promulgated by
            the United States Treasury Department under the Code.

           

          “Unit” shall mean a unit of a membership interest in the Company
            representing, as the context shall require, any Company Interest, as well as any other class or series of Units created pursuant to Section 3.2.

           

          “Unrealized Gain” attributable to any item of Company property
            shall mean, as of any date of determination, the excess, if any, of (a) the Fair Market Value of such property as of such date over (b) the Carrying Value of such property as of such date (prior to any adjustment to be made pursuant to Section 8.1(b)(v) as of such date).

           

          “Unrealized Loss” attributable to any item of Company property
            shall mean, as of any date of determination, the excess, if any, of (a) the Carrying Value of such property as of such date (prior to any adjustment to be made pursuant to Section
              8.1(b)(v), as of such date) over (b) the Fair Market Value of such property as of such date.

           

          

          
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          “Voting Interests” shall mean the outstanding Class C-1 Units of
            the Company.  For the avoidance of doubt, the Class C-1 Units shall be the only voting Units of the Company.

           

          Any capitalized term used in this Agreement but not defined in this Section
              2.1 shall have the meaning assigned to such term elsewhere in this Agreement.

           

          Section 2.2        References and Titles.  All references in
              this Agreement to articles, sections, subsections and other subdivisions refer to corresponding articles, sections, subsections and other subdivisions of this Agreement unless expressly provided otherwise.  Titles appearing at the beginning
              of any of such subdivisions are for convenience only and shall not constitute part of such subdivisions and shall be disregarded in construing the language contained in such subdivisions.  The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular
              subdivision unless expressly so limited.  Pronouns in masculine, feminine and neuter genders shall be construed to include any other gender, and words in the singular form shall be construed to include the plural and vice versa, unless the
              context otherwise requires.  The word “including” (in its various forms) means including without limitation.

           

          ARTICLE III. CAPITALIZATION

           

          Section 3.1          Classes and Series of Company Interests.

           

          (a)         As of the Effective Date, the Company Interests shall consist of six classes of Company Interests, designated as “Class A-1 Units,” “Class A-2 Units,” “Class A-3 Units,” “Class B-1 Units”, “Class B-2 Units” and “Class C-1 Units.” 
              Each class of Company Interests shall have the rights, powers, obligations, restrictions and limitations accorded such class as are set forth in this Agreement.  Neither the Units previously issued, nor the Units issued hereunder shall be
              certificated unless otherwise determined by the Board.  As of the Effective Date,  a total of 1,652,000 Class A-1 Units, 2,436,000 Class A-2 Units, and 2,450,000 Class A-3 Units are hereby authorized for issuance,
              a total of 10,000 Class B-1 Units and 10,000 Class B-2 Units are hereby authorized for issuance, and a total of 1,000,000 Class C-1 Units are hereby authorized for issuance.  A Member may own one or more classes or series of Units, and the
              ownership of one class or series of Units shall not affect the rights, privileges, preferences or obligations of a Member with respect to the other class or series of Units owned by such Member.  Any reference herein to a holder of a class of
              Units shall be deemed to refer to such holder only to the extent of such holder’s ownership of such class or series of Units.  Notwithstanding anything to the contrary in this Agreement, any Units issued to CORR shall be either Class C-1,
              Class B-1 Units and Class B-2 Units, and any Class A-1, Class A-2, or Class A-3 Units acquired by CORR or any Affiliate of CORR from any Grier Member or Management Member, shall automatically be converted to a Class B-1 Unit.

           

          (b)          Upon CPUC Approval, all Class C-1 Units owned by Grier Members were automatically transferred to CORR.

           

          (c)          Additional Persons may be admitted to the Company as new Members only as provided in this Agreement.

           

          
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          (d)         As of the Effective Date, the Class A-1 Units, Class A-2 Units, Class A-3 Units, Class B-1 Units, Class B-2 Units, and Class C-1 Units, and the respective Sharing Ratios, Class A-1 Sharing Ratios, Class A-2 Sharing Ratios, Class A-3
              Sharing Ratios, and Class B-1 Sharing Ratios and Class B-2 Sharing Ratios held by each Member are set forth on Exhibit A attached hereto.  Exhibit A shall be amended by the Board from time to time to reflect changes and adjustments resulting from (i) the admission of any new Member, (ii) any Transfer in accordance with this Agreement, and/or (iii) any
              Capital Contributions made or additional Company Interests issued, in each case as permitted by this Agreement (provided, that a failure to reflect such change or adjustment on Exhibit A shall not prevent any otherwise valid change or adjustment from being effective).  Any
              reference in this Agreement to Exhibit A shall be deemed a reference to Exhibit A as amended in accordance with this Section 3.1(d) and in effect from time to time.

           

          Section 3.2          Issuances of Additional Securities.

           

          (a)        The Company may issue additional Company Interests, or classes or series thereof, or options, rights, warrants or appreciation rights relating thereto, or instruments convertible into Company Interests, or any other type of equity
              security that the Company may lawfully issue (“Additional Equity Securities”) with the approval of the Board.

           

          (b)       The Board is hereby authorized to cause the Company and/or its Subsidiaries to issue any unsecured or secured Debt obligations of the Company (collectively with the Additional Equity Securities, “Company Securities”).

           

          (c)         Additional Equity Securities may be issuable in one or more classes, or one or more series of any of such classes, with such designations, preferences and relative, participating, optional or other special rights, powers, and duties,
              including rights, powers and duties senior to existing classes and series of Company Securities, all as shall be fixed by the Board in the exercise of its sole and complete discretion, subject to Delaware law and the terms of this Agreement,
              including (i) the allocations of items of Company income, gain, loss and deduction to each such class or series of Company Securities; (ii) the right of each such class or series of Company Securities to share in Company distributions; (iii)
              the rights of each such class or series of Company Securities upon dissolution and liquidation of the Company; (iv) whether such class or series of additional Company Securities is redeemable by the Company and, if so, the price at which, and
              the terms and conditions upon which, such class or series of additional Company Securities may be redeemed by the Company; (v) whether such class or series of additional Company Securities is issued with the privilege of conversion and, if
              so, the rate at which, and the terms and conditions upon which, such class or series of Company Securities may be converted into any other class or series of Company Securities; (vi) the terms and conditions upon which each such class or
              series of Company Securities will be issued and assigned or Transferred; and (vii) the right, if any, of each such class or series of Company Securities to vote on Company matters, including matters relating to the relative rights,
              preferences and privileges of each such class or series.

           

          (d)       Company Securities may be issued to such Persons for such consideration and on such terms and conditions as shall be established by the Board in its sole discretion,

            

           

            

          
            20

            
              

          

          and the Board shall have sole discretion, subject to the guidelines set
              forth in this Section 3.2 and the requirements of the Act, in determining the consideration and
              terms and conditions with respect to any future issuance of Company Securities.

           

          (e)         The Board is hereby authorized and directed to take all actions that it deems appropriate or necessary in connection with each issuance of Company Securities pursuant to this Section 3.2 and to amend this Agreement in any manner which it deems appropriate or necessary without the joinder of any Member to provide for each
              such issuance, to admit additional Members in connection therewith and to specify the relative rights, powers and duties of the holders of the Company Securities being so issued.  The Board shall do all things necessary to comply with the Act
              and is authorized and directed to do all things it deems to be necessary or advisable in connection with any future issuance of Company Securities, including compliance with any statute, rule, regulation or guideline of any federal, state or
              other governmental agency.

           

          Section 3.3         Capital Contributions.  No Member shall be required to make any Capital Contributions to the Company, and any Capital Contributions made by any Members shall only be made with the consent of the
              Board.

           

          Section 3.4          Return of Contributions.  No interest shall accrue on any contributions to the capital
            of the Company, and no Member shall have the right to withdraw or to be repaid any capital contributed by such Member except as otherwise specifically provided in this Agreement.

           

          ARTICLE IV. ALLOCATIONS AND DISTRIBUTIONS

           

          Section 4.1          Allocations of Net Profits and Net Losses. 
              After giving effect to the allocations under Section 4.2, the Members shall share Company Net
              Profits and Net Losses and all related items of income, gain, loss, deduction and credit for federal income tax purposes as follows:

           

          (a)        Net Profits and Net Losses for each fiscal year shall be allocated among the Members in such manner as shall cause the Capital Accounts of each Member to equal, as nearly as possible, (i) the amount such Member would receive if all
              assets on hand at the end of such year were sold for cash at the Carrying Values of such assets, all liabilities were satisfied in cash in accordance with their terms (limited in the case of Member Nonrecourse Debt and Company Nonrecourse
              Liabilities to the Carrying Value of the assets securing such liabilities), and any remaining or resulting cash was distributed to the Members under Section 4.3(b), minus (ii) an amount equal to such Member’s allocable share of Minimum Gain as computed
              immediately prior to the deemed sale in clause (i) above in accordance with the applicable Treasury Regulations.

           

          (b)         The Board shall make the foregoing allocations as of the last day of each fiscal year; provided, however, that if during any fiscal year of the Company there
              is a change in any Member’s Company Interest, the Board shall make the foregoing allocations as of the date of each such change in a manner which takes into account the varying interests of the Members and in a manner the Board reasonably
              deems appropriate.

           

          Section 4.2          Special Allocations.

           

          
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          (a)          Notwithstanding any of the provisions of Section 4.1 to the contrary:

           

          (i)       If during any fiscal year of the Company there is a net increase in Minimum Gain attributable to a Member Nonrecourse Debt that gives rise to Member Nonrecourse Deductions, each Member bearing the economic risk of loss for such
              Member Nonrecourse Debt shall be allocated items of Company deductions and losses for such year (consisting first of cost recovery or depreciation deductions with respect to property that is subject to such Member Nonrecourse Debt and then,
              if necessary, a pro-rata portion of the Company’s other items of deductions and losses, with any remainder being treated as an increase in Minimum Gain attributable to Member Nonrecourse Debt in the subsequent year) equal to such Member’s
              share of Member Nonrecourse Deductions, as determined in accordance with applicable Treasury Regulations.

           

          (ii)         If for any fiscal year of the Company there is a net decrease in Minimum Gain attributable to Company Nonrecourse Liabilities, each Member shall be allocated items of Company income and gain for such year (consisting first of gain
              recognized from the Transfer of Company property subject to one or more Company Nonrecourse Liabilities and then, if necessary, a pro-rata portion of the Company’s other items of income and gain, and if necessary, for subsequent years) equal
              to such Member’s share of such net decrease (except to the extent such Member’s share of such net decrease is caused by a change in debt structure with such Member commencing to bear the economic risk of loss as to all or part of any Company
              Nonrecourse Liability or by such Member contributing capital to the Company that the Company uses to repay a Company Nonrecourse Liability), as determined in accordance with applicable Treasury Regulations.  Nonrecourse Deductions shall be
              allocated to the Members in accordance with their respective Sharing Ratios to the extent permitted by the Treasury Regulations.

           

          (iii)       If for any fiscal year of the Company there is a net decrease in Minimum Gain attributable to a Member Nonrecourse Debt, each Member bearing the economic risk of loss for such Member Nonrecourse Debt shall be allocated items of
              Company income and gain for such year (consisting first of gain recognized from the Transfer of Company property subject to Member Nonrecourse Debt, and then, if necessary, a pro-rata portion of the Company’s other items of income and gain,
              and if necessary, for subsequent years) equal to such Member’s share of such net decrease (except to the extent such Member’s share of such net decrease is caused by a change in debt structure such that the Member Nonrecourse Debt becomes
              partially or wholly a Company Nonrecourse Liability or by the Company’s use of capital contributed by such Member to repay the Member Nonrecourse Debt) as determined in accordance with applicable Treasury Regulations.

           

          (b)        The Net Losses allocated pursuant to this Article IV shall
              not exceed the maximum amount of Net Losses that can be allocated to a Member without causing or increasing a deficit balance in the Member’s Adjusted Capital Account balance.  All Net Losses in excess of the limitations set forth in this Section 4.2(b) shall be allocated to

            

          

            

          
            22

            
              

          

           Members with positive Adjusted Capital Account balances remaining at such time in proportion to such positive balances.

           

          (c)        In the event that a Member unexpectedly receives any adjustment, allocation or distribution described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6) that causes or increases a deficit balance in such Member’s
              Adjusted Capital Account, items of Company income and gain shall be allocated to that Member in an amount and manner sufficient to eliminate the deficit balance as quickly as possible.

           

          (d)         In the event that any Member has a deficit balance in its Adjusted Capital Account at the end of any allocation period, such Member shall be allocated items of Company gross income and gain in the amount of such deficit as quickly as
              possible; provided, that an allocation pursuant to this Section 4.2(d) shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account after all other allocations provided for in this Article IV have been tentatively made as if Section 4.2(c) and this Section 4.2(d) were not in this Agreement.

           

          (e)       If, as a result of an exercise of a non-compensatory warrant, a Capital Account reallocation is required under Treasury Regulations Section 1.704-1(b)(2)(iv)(s)(3) (as such Treasury Regulations may be amended or modified), the
                Company shall make corrective allocations pursuant to Proposed Treasury Regulations Section 1.704-1(b)(4)(x), as such Treasury Regulations may be amended or modified.

           

          (f)        The allocations set forth in subsections (a) through (e) of this Section 4.2
              (collectively, the “Regulatory Allocations”) are intended to comply with certain requirements of the Treasury Regulations.  It is the intent of the Members that,
              to the extent possible, all Regulatory Allocations that are made be offset either with other Regulatory Allocations or with special allocations pursuant to this Section 4.2(f).  Therefore, notwithstanding any other provisions of this Article IV (other than the Regulatory Allocations), the Board shall make such offsetting special allocations in whatever manner it determines appropriate so that, after such offsetting allocations are made, the net
              amount of allocations to each Member is, to the extent possible, equal to the amount such Member would have been allocated if the Regulatory Allocations were not part of the Agreement and all Company items were allocated pursuant to Section 4.1 and the remaining subsections of this Section 4.2.

           

          (g)       In the event Units are issued to a Person and the issuance of such Units results in items of income or deduction to the Company, such items of income or deduction shall be allocated to the Members in proportion to the positive
              balances in their Capital Accounts immediately before the issuance of such Units.

           

          (h)        To the extent that a John D. Grier Transfers Units (directly or indirectly) to a Management Member (as contemplated pursuant to that certain Award Agreement dated as of [●]), any tax deduction claimed by the Company and its
                Subsidiaries attributable to the transfer of such Units to the Management Members shall be specially allocated to John D. Grier.

           

              

          
            23

            
              

          

          Section 4.3          Distributions.

           

          (a)       The Company shall distribute Distributable Funds in accordance with Section 4.3(b) unless the Board determines that Distributable Funds are not available.

           

          (b)       Subject to Section 4.3(a), at such times and in such amounts as are contemplated in the Budget, unless the Board by a unanimous vote of the Managers determines otherwise,
                and to the extent consistent (to the extent commercially reasonable) with the distribution expectations set forth in the Initial Resolution, the Company shall distribute Distributable Funds as follows, to the Members as of any Company
                Record Date:

           

          (i)          First, (A) prior to the CORR Series C Exchange, to the Class B-2 Members, in accordance with each such Member’s Preferred Return Per Class B-2 Unit with respect to all Class B-2 Units held by such Member, less the aggregate amount
              previously distributed with respect to such Member’s Class B-2 units pursuant to this Section 4.3(b)(i); and (B) following the CORR Series C Exchange, pari passu to the Class B-2
              Members and the Class A-1 Members, based on the number of B-2 Units outstanding and the number of A-1 Units outstanding, with the distribution to the Class B-2 Members made in accordance with each such Member’s Preferred Return Per Class B-2
              Unit with respect to all Class B-2 Units held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class B-2 Units and with the distribution made to the Class A-1 Members made in accordance with each
              such Member’s Preferred Return Per Class A-1 Unit with respect to all Class A-1 Units held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class A-1 Units pursuant to this Section 4.3(b)(i) and
              Section 4.3(b)(ii)(A);

           

          (ii)       Second, (A) prior to the CORR Series C Exchange, pari passu to the Class A-1 Members and the Class A-2 Members, based on the number of A-1 Units outstanding and the number of A-2 Units outstanding, with the distribution to the
                Class A-1 Members made in accordance with each such Member’s Preferred Return Per Class A-1 Unit with respect to all Class A-1 Units held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class
                A-1 Units pursuant to this Section 4.3(b)(ii)(A) and with the distribution to the Class A-2 Members made in accordance with each such Member’s
                Preferred Return Per Class A-2 Unit with respect to all Class A-2 Units held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class A-2 Units pursuant to this Section 4.3(b)(ii)(A); and (B) following the CORR Series C Exchange, to the Class A-2 Members, based on the number of A-2 Units outstanding, in accordance with each such Member’s Preferred Return Per Class A-2
                Unit with respect to all Class A-2 Units held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class A-2 Units pursuant to this Section
                    4.3(b)(ii)(B);

           

              

          
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          (iii)        Third, (A) prior to the CORR Class B Common Stock Conversion, to the Class B-1 Members an amount equal to the aggregate dividend paid or payable on the CORR Common Stock, less the amount previously distributed pursuant to Section 4.3(b)(iii)(A); and (B) following the CORR Class B Common Stock Conversion, pari passu to the Class A-3 Members and the Class B-1 Members, based on the number of A-3 Units
                outstanding and the number of B-1 Units outstanding, with the distribution to the Class B-1 Members made in accordance with each such Class B-1 Member’s Preferred Return Per CORR Common Stock less the aggregate amount previously distributed
                with respect to such Member’s Preferred Return Per CORR Common Stock pursuant to this Section 4.3(b)(iii), and with the distribution to the Class A-3 Members made in accordance with each such Member’s Preferred Return Per Class A-3 Unit
                with respect to all Class A-3 Units held by such Member, less the aggregate amount previously distributed with respect to such Member’s Class A-3 Units pursuant to this Section
                    4.3(b)(iii)(B) and Section 4.3(b)(iv);

           

          (iv)         Fourth, prior to the CORR Class B Common Stock Conversion, to the Class A-3 Members, in accordance with each such Member’s Preferred Return Per Class A-3 Unit with respect to all Class A-3 Units held by such Member, less the
                aggregate amount previously distributed with respect to such Member’s Class A-3 Units pursuant to this Section 4.3(b)(iv).  For the avoidance of doubt, following the CORR Class B
                Common Stock Conversion, no distributions shall be made pursuant to this Section 4.3(b)(iv); and

           

          (v)          Fifth, to the Class B-1 Members, the remainder of the Distributable Funds.

           

          (c)         Notwithstanding any provision to the contrary contained in this Agreement, for any quarter in which there are no shares of either CORR Series B Preferred Stock or CORR Series C Preferred Stock issued and outstanding, the following
                shall apply:

           

          (i)          If no shares of CORR Series C Preferred Stock are issued and outstanding on a CORR Series C Dividend Payment Date, subject to the preferential rights of the holders of any class or series of equity securities of CORR ranking senior
                to the CORR Series C Preferred Stock (if the CORR Series C Preferred Stock were outstanding) as to dividends, the CORR Board of Directors shall consider whether the CORR Board of Directors would declare cash dividends at the rate of 9.00%
                per annum of the $25.00 liquidation preference per share of the CORR Series C Preferred Stock, out of funds legally available to CORR for the payment of such dividends, if shares of such CORR Series C Preferred Stock were outstanding.  If
                the CORR Board of Directors authorizes and CORR declares that a dividend would have been paid on the Series C Dividend Payment Date if such CORR Series C Preferred Stock were outstanding, the CORR Board of Directors shall designate the date
                that would have been the CORR Series C Dividend Record Date.  For purposes of this Agreement and determining a Class A-1 Member’s Preferred Return Per Class A-1 Unit only, such date shall be considered a record date established by the

           

              

          
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           CORR Board of Directors and such declaration shall be considered a cash dividend per share of CORR for holders of
                CORR Series C Preferred Stock.

           

          (ii)         If no shares of CORR Series B Preferred Stock are issued and outstanding on a CORR Series B Dividend Payment Date, subject to the preferential rights of the holders of any class or series of equity securities of CORR ranking senior
                to the CORR Series B Preferred Stock (if the CORR Series B Preferred Stock were outstanding) as to dividends, the CORR Board of Directors shall consider whether the CORR Board of Directors would declare cash dividends at the rate of 4.00%
                or 11.00% (if applicable) per annum, pursuant to the terms of the Articles Supplementary for the CORR Series B Preferred Stock of the $25.00 liquidation preference per share of the CORR Series B Preferred Stock, out of funds legally
                available to CORR for the payment of such dividends, if shares of such CORR Series B Preferred Stock were outstanding.  If the CORR Board of Directors authorizes and CORR declares that a dividend would have been paid on the CORR Series B
                Dividend Payment Date if such CORR Series B Preferred Stock were outstanding, the CORR Board of Directors shall designate the date that would have been the CORR Series B Dividend Record Date.  For purposes of this Agreement and determining
                a Class A-2 Member’s Preferred Return Per Class A-2 Unit only, such date shall be considered a record date established by the CORR Board of Directors and such declaration shall be considered a cash dividend per share of CORR for holders of
                CORR Series B Preferred Stock.

           

          (iii)        If no shares of CORR Class B Common Stock are issued and outstanding on a CORR Class B Dividend Payment Record Date, subject to the preferential rights of the holders of any class or series of equity securities of CORR ranking
                senior to the CORR Class B Common Stock (if the CORR Class B Common Stock were outstanding) as to dividends, the CORR Board of Directors shall consider whether the CORR Board of Directors would declare cash dividends at the rate articulated
                by the terms of the Articles Supplementary for the CORR Class B Common Stock, out of funds legally available to CORR for the payment of such dividends, if shares of such CORR Class B Common Stock were outstanding.  If the CORR Board of
                Directors authorizes and CORR declares that a dividend would have been paid on the CORR Class B Dividend Payment Record Date if such CORR Class B Common Stock were outstanding, the CORR Board of Directors shall designate the date that would
                have been the CORR Class B Dividend Record Date.  For purposes of this Agreement and determining a Class A-2 Member’s Preferred Return Per Class A-2 Unit only, such date shall be considered a record date established by the CORR Board of
                Directors and such declaration shall be considered a cash dividend per share of CORR for holders of CORR Class B Common Stock.

           

          (iv)        No dividends on the CORR Series A Preferred Stock, CORR Series B Preferred Stock, CORR Series C Preferred Stock or CORR Class B Common Stock will be deemed to have been declared or paid or set apart for payment by CORR pursuant to
                Sections 4.3(c)(i), (ii), (iii), or (v) at such time as the terms and provisions of any agreement of CORR, including any agreement

           

              

          
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           relating to its indebtedness, prohibits such declaration, payment or setting apart for payment or provides that
                such declaration, payment or setting apart for payment would constitute a breach thereof or a default thereunder, or if such declaration, or payment or setting apart for payment would be restricted or prohibited by law if such CORR Series A
                Preferred, CORR Series B Preferred Stock, CORR Series C Preferred Stock or CORR Class B Common Stock were outstanding.

           

          (v)          Further, the deemed declarations made by the CORR Board of Directors pursuant to Sections 4.3(c)(i), (ii) and (iii) shall be subject to Section 9 (relating to “Ranking”)
                of the form of Articles Supplementary for each of the CORR Series A Preferred Stock, CORR Series B Preferred Stock, CORR Series C Preferred Stock or CORR Class B Common Stock as if such CORR Series A Preferred Stock, CORR Series B Preferred
                Stock, CORR Series C Preferred Stock or CORR Class B Common Stock were outstanding.

           

          (d)         Notwithstanding any provision to the contrary contained in this Agreement, neither the Company nor the Board, on behalf of the Company, shall make a distribution to any Member if such distribution would violate the Act or other
                applicable law.

           

          Section 4.4          Income Tax Allocations.

           

          (a)          Except as provided in this Section 4.4, each item of income, gain, loss and deduction of
              the Company for federal income tax purposes shall be allocated among the Members in the same manner as such items are allocated for Capital Account purposes under Section
                4.1 and Section 4.2.

           

          (b)          The Members recognize that with respect to Adjusted Property, there will be a difference between the Carrying Value of such property at the time of contribution or revaluation and the adjusted tax basis of such property at the time. 
              All items of tax depreciation, cost recovery, amortization, amount realized and gain or loss with respect to such Adjusted Property shall be allocated among the Members to take into account the disparities between the Carrying Values and the
              adjusted tax basis with respect to such properties in accordance with the provisions of Code Sections 704(b) and 704(c) and the Treasury Regulations under those sections; provided,

                however, that any tax items not required to be allocated under Code Sections 704(b) or 704(c) shall be allocated in the same manner as such gain or loss would be allocated for Capital Account purposes under Section 4.1 and Section 4.2.  In making such allocations under Code Section 704(c), income, gain deduction and loss with respect to Company property having a Carrying Value that differs from such property’s
              adjusted federal income tax basis shall, solely for federal income tax purposes, be allocated among the Members in order to account for any such difference using the “traditional method with curative allocations” pursuant to Treasury
              Regulations Section 1.704-3(c), with the curative allocations limited to allocations of depreciation and amortization, or such other method or methods as determined by the Board to be appropriate and in accordance with the applicable Treasury
              Regulations.

           

            

          
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          (c)       All recapture of income tax deductions resulting from the Transfer of Company property shall, to the maximum extent possible, be allocated to the Member to whom the deduction that gave rise to such recapture was allocated hereunder
              to the extent that such Member is allocated any gain from the Transfer of such property (taking into account the effect of curative allocations).  For this purpose, deductions that were allocated as a component of Net Profit or Net Loss shall
              be treated as if allocated in the same manner as the allocation of the related Net Profit or Net Loss.

           

          ARTICLE V. MANAGEMENT AND RELATED MATTERS

           

          Section 5.1          Power and Authority of Board.

           

          (a)          The Company shall be managed by a board of managers (the “Board”) consisting of four managers (each, a “Manager” and collectively, the “Managers”).  Managers need not be Members.  As of the Effective
              Date, the Managers are David J. Schulte, Todd Banks, Sean DeGon, and John D. Grier.  After the Date of this Agreement, the Managers may be removed, or a vacancy on the Board filled, by vote of a Majority Interest of the Class C Members;
              provided, however, Mr. Grier may not be so removed until the later of: (i) the date Grier no longer serves on the Board of Directors of CORR, and (ii) the date the Grier Members no longer hold at least 25% of the Units owned by the Grier
              Members on the date of this Agreement.

           

          (b)       Except as otherwise expressly provided in this Agreement, all management powers over the business and affairs of the Company shall be exclusively vested in the Board, and the Members shall have no right of control over the business
              and affairs of the Company.  In addition to the powers now or hereafter granted to the Managers under the Act or which are granted to the Board under any other provision of this Agreement, the Board shall have full power and authority to do
              all things deemed necessary or desirable by it to conduct the business of the Company in the name of the Company.

           

          (c)        Each Manager serving on the Board shall have one vote.  The business of the Company presented at any meeting of the Board (and all matters subject to “approval of the Board” and the like hereunder) shall be decided by Majority Board
              Approval.

           

          (d)         The Board may hold such meetings at such place and at such time as it may determine; provided that meetings of the Board shall occur at least once per fiscal
              quarter.  Notice of a meeting shall be served not less than 24 hours before the date and time fixed for such meeting by confirmed e-mail or other written communication or not less than three (3) days prior to such meeting if notice is
              provided by overnight delivery service.  Notice of a meeting need not be given to any Manager who signs a waiver of notice or provides a waiver by electronic transmission or a consent to holding the meeting or an approval of the minutes
              thereof, whether before or after the meeting, or who attends the meeting without protesting, either prior thereto or at its commencement, the lack of notice to such Manager.  A special meeting of the Board may be called by any Manager.  Any
              Manager may participate in a meeting by telephone conference or similar communications.  Any action required or permitted to be taken by the Board may be taken without a meeting if such action is evidenced in writing and signed by all of the
              members of the Board.  At

           

            

          
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           any meeting of the Board, the presence in person or by telephone or similar electronic communication of Managers representing at
              least 50% of the then-outstanding Voting Interests shall constitute a quorum.

           

          (e)         Subject to Section 5.1(d), in accomplishing all of the foregoing and in fulfilling its obligations pursuant to this Agreement, the Board may, in its sole discretion, retain
              or use personnel, properties and equipment of Affiliates of the Company, or the Board may hire or rent those of third parties and may employ on a temporary or continuing basis outside accountants, attorneys, consultants and others on such
              terms as the Board deems advisable.  No Person dealing with the Company shall be required to inquire into the authority of the Board to take any action or make any decision.

           

          (f)          The Board shall comply in all respects with the terms of this Agreement.  The Board shall be obligated to perform the duties, responsibilities and obligations of the Board hereunder only to the extent that funds of the Company are
              available therefor.  During the existence of the Company, each Manager serving on the Board shall devote such time and effort to the Company’s business as he deems necessary to manage and supervise Company business and affairs in an efficient
              manner.

           

          (g)        Each Manager shall be reimbursed by the Company for all reasonable out-of-pocket expenses incurred by such Person in connection with such services.

           

          (h)          The Board may determine to conduct any Company operations indirectly through one or more Subsidiaries.

           

          (i)         No later than thirty (30) days prior to the end of each fiscal year, the Board shall determine the projected amount of cash necessary for the Company to satisfy working capital requirements, including any required expenditures for
              the forthcoming year in accordance with the Approved Budgets, taking into account projected future revenue and costs (such projected cash balance, the “Liquidity Reserve”). 

              The Board will reevaluate the sufficiency of the Liquidity Reserve from time to time throughout the fiscal year, as necessary, and in any event prior to any approval of a distribution of Distributable Funds.

           

          Section 5.2          Duties of Managers.  Each Manager may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice,
              request, consent, order, bond, debenture, or other paper or document believed by it in good faith to be genuine and to have been signed or presented by the Board.  The Board may consult with legal counsel, accountants, appraisers,
              consultants, investment bankers and other consultants and advisers selected by it and any act taken or omitted in good faith reliance upon the opinion of such Persons as to matters that the Managers reasonably believe to be within such
              Person’s professional or expert competence shall be conclusively presumed to have been done or omitted in good faith and in accordance with such opinion.  Neither the Board nor any individual Manager shall be responsible or liable to the
              Company or any Member for any mistake, action, inaction, misconduct, negligence, fraud or bad faith on the part of any Person delivering such document, advice or opinion as provided in this Section 5.2 unless, with respect to an individual

           

              

          
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           Manager only, such Manager had knowledge that such Person was acting unlawfully or
                engaging in fraud.

           

          Section 5.3          Officers.

           

          (a)         Designation.  The Board may, from time to time, designate individuals (who need not be a Manager) to serve as officers of the Company.  The officers may, but need not,
              include a president and chief executive officer, a chief operating officer, a treasurer, one or more vice presidents and a secretary.  Any two or more offices may be held by the same Person.

           

          (b)         Duties of Officers.  Each officer of the Company designated hereunder shall devote such time to the Company’s business as he deems necessary to manage and supervise Company
              business and affairs in an efficient manner.

           

          (i)          The Chief Executive Officer, subject to the control and direction of the Board, shall in general supervise and control all of the business and affairs of the Company and perform all duties and exercise all powers usually appertaining
              to the office of the chief executive officer, subject to the provisions of applicable law and this Agreement.  The Chief Executive Officer may sign, with a secretary or any other proper officer of the Company thereunto authorized by the
              Board, any contracts or other instruments which the Board has authorized to be executed, except in cases where the signing and execution thereof shall be expressly delegated by the Board or by this Agreement to some other officer or agent of
              the Company, or shall be required by law to be otherwise signed and executed.  John D. Grier is the Chief Executive Officer of the Company as of the Effective Date.

           

          (ii)         The President shall assist in the supervision and control of the business and affairs of the Company in such manner as the Board shall determine.  The President may sign, with a secretary or any other proper officer of the Company
              thereunto authorized by the Board, any contracts or other instruments which the Board has authorized to be executed, except in cases where the signing and execution thereof shall be expressly delegated by the Board or by this Agreement to
              some other officer or agent of the Company, or shall be required by law to be otherwise signed and executed.  As between the Chief Executive Officer and President, the Chief Executive Officer shall be the more senior officer and the President
              shall perform the duties and exercise the powers of the Chief Executive Officer in the event of the Chief Executive Officer’s absence or disability, unless otherwise determined by the Chief Executive Officer or the Board.  Larry W. Alexander
              is the President of the Company as of the Effective Date.

           

          (iii)         The Chief Operating Officer, subject to the control and direction of the Board, shall in general supervise and control all of the business and affairs of the Company and perform all duties and exercise all powers usually appertaining
              to the office of the chief operating officer, subject to the provisions of applicable law and this Agreement.  The Chief Operating Officer may sign, with a secretary or any other proper officer of the Company thereunto authorized by the
              Board, any

           

            

          
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           contracts or other instruments which the Board has authorized to be executed, except in cases where the signing and execution
              thereof shall be expressly delegated by the Board or by this Agreement to some other officer or agent of the Company, or shall be required by law to be otherwise signed and executed.  As between the Chief Executive Officer, the President and
              the Chief Operating Officer, the Chief Executive Officer and the President shall be the more senior officers and the Chief Operating Officer shall perform the duties and exercise the powers of the Chief Executive Officer and/or the President
              in the event of the Chief Executive Officer’s and/or the President’s absence or disability, unless otherwise determined by the Chief Executive Officer, the President or the Board.  Larry W. Alexander is the Chief Operating Officer of the
              Company as of the Effective Date.

           

          (iv)        The Vice Presidents (if any) shall perform such duties and exercise the powers as the Chief Executive Officer or the President may assign or delegate to them from time to time.

           

          (v)          The Secretary (if any) shall keep and account for all books, documents, papers and records of the Company except those for which some other officer or agent is properly accountable; and have authority to attest to the signatures of
              the Chief Executive Officer, the President, the Chief Operating Officer or the Vice Presidents and shall generally perform all duties usually appertaining to the office of secretary of a corporation.  Robert Waldron is the Secretary of the
              Company as of the Effective Date.

           

          (vi)       Any other officer appointed by the Board shall have such authority and responsibilities as the Board, the Chief Executive Officer, the President or the Chief Operating Officer may delegate to such
              officer from time to time.

           

          (c)          Term of Office; Removal; Filling of Vacancies.

           

          (i)         Each officer of the Company shall hold office until his successor is chosen and qualified in his stead or until his earlier death, resignation, retirement, disqualification or removal from office.

           

          (ii)         Any officer may be removed at any time by the Board whenever in its judgment the best interests of the Company will be served thereby, subject to the terms of any employment agreement between the Company and such officer. 
              Designation of an officer shall not of itself create any contract rights in favor of such officer.

           

          (iii)         If the office of any officer becomes vacant for any reason, the vacancy may be filled by the Board.

           

          Section 5.4          Acknowledged and Permitted Activities.

           

          (a)         Crimson Member Activities.  The Company and the Members recognize that John D. Grier and his Affiliates own and will own substantial equity interests in those companies
              listed on Exhibit B that participate in the energy industry (“Grier Companies”)

           

            

          
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           and have entered and will enter into management services agreements with such Grier Companies.  The Company and the Members
              acknowledge and agree that:

           

          (i)         John D. Grier and his Affiliates (A) shall not be prohibited or otherwise restricted by their relationship with the Company and its Subsidiaries from engaging in the business of operating or investing in such Grier Companies,
              entering into agreements to provide services to such companies or acting as directors or advisors to, or other principals of, such Grier Companies, and (B) shall not have any obligation to offer the Company or its Subsidiaries any Designated
              Business Opportunity; provided, however, that in no event may any of the Grier Companies acquire a new business or expand its existing business to the extent such new
              or expanded business competes, directly or indirectly, with the business operated by the Company and its Subsidiaries and; provided, further, that, for the avoidance of
              doubt, nothing in this Agreement shall restrict the Grier Companies’ right to acquire, invest in, or otherwise pursue any Designated Business Opportunity; and

           

          (ii)      the Company and the Members hereby renounce any interest or expectancy in any Grier Companies or any Designated Business Opportunity pursued by John D. Grier and his Affiliates, and waive any claim that any such Designated Business
              Opportunity constitutes a corporate, partnership or other business opportunity of the Company or any of its Subsidiaries.

           

          For the avoidance of doubt, nothing in this Section 5.4(b) shall be deemed to approve, on behalf of the Company or any of its Subsidiaries, any contract or agreement between the Company or any of its Subsidiaries on the one hand and any of the Grier Companies
            on the other hand.

           

          Section 5.5          Tax Elections and Status.

           

          (a)          The Board shall make such tax elections on behalf of the Company as are necessary or appropriate in order to permit CORR to maintain its REIT status.

           

          (b)         The Members agree that all decisions relating to the taxes and accounting of the Company shall be made in a manner so as not to negatively affect the ability of CORR to qualify as a real estate investment trust.

           

          Section 5.6          Tax Returns.  The Company shall deliver
              necessary tax information to each Member after the end of each fiscal year of the Company.  Not less than thirty (30) days prior to the date (as extended) on which the Company intends to file its federal income tax return or any state income
              tax return, the return proposed by the Board to be filed by the Company shall be furnished to the Members for review; provided, however, that an IRS Form K-1 or a good faith estimate of the amounts to be included on such IRS Form
              K-1 for each Member shall be sent to each Member on or before March 31 of each year.  In addition, not more than ten (10) days after the date on which the Company files its federal income tax return or any state income tax return, a copy of
              the return so filed shall be furnished to the Members.

           

          Section 5.7          Tax Matters Member.  For all tax years
              ending on or before December 31, 2017, David J. Schulte shall be the tax matters member under Code Section 6231 (in such capacity,

           

            

          
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           the “Tax Matters Member”).  The Tax Matters Member may be removed and replaced by the Board at any time for any reason.  The Tax Matters Member is authorized to take such actions and to execute and file all statements and
              forms on behalf of the Company which may be permitted or required by the applicable provisions of the Code or Treasury Regulations issued thereunder.  The Tax Matters Member shall have full and exclusive power and authority on behalf of the
              Company to represent the Company (at the Company’s expense) in connection with all examinations of the Company’s affairs by tax authorities, including resulting administrative and judicial proceedings, and to expend Company funds for
              professional services and costs associated therewith.  The Tax Matters Member shall keep the Members informed as to the status of any audit of the Company’s tax affairs, and shall take such action as may be necessary to cause any Member so
              requesting to become a “notice partner” within the meaning of Code Section 6223.  Without first obtaining the
              approval of the Board, the Tax Matters Member shall not, with respect to Company tax matters: (a) enter into a settlement agreement with respect to any tax matter that purports to bind Members, (b) intervene in any action pursuant to Code
              Section 6226(b)(5), (c) enter into an agreement extending the statute of limitations, or (d) file a petition pursuant to Code Section 6226(a) or 6228.  If an audit of any of the Company’s tax returns shall occur, the Tax Matters Member shall
              not settle or otherwise compromise assertions of the auditing agent which may be adverse to any Member as compared to the position taken on the Company’s tax returns without the prior written consent of each such affected Member.

           

          Section 5.8          Budget Act.

           

          (a)        For all tax years beginning after December 31, 2017, the Members hereby designate CORR as the “partnership representative” as such term is defined in Section 6223(a) of the Code, as revised by the Bipartisan Budget Act of 2015, H.R.
              1314 (the “Budget Act”) (the “Company Representative”).  The Company
              Representative may be removed and replaced by approval of the Board at any time for any reason.  If the Company Representative is not a natural person, then an officer of the Company Representative shall be designated as the “designated
              individual” within the meaning of the Treasury Regulation Section 301.6223-1. For all tax years beginning after December 31, 2017, the Members shall continue to have all the rights that they had during all tax years ending on or before
              December 31, 2017 pursuant to Section 5.8, and the Company Representative shall take any necessary action to ensure such rights to such Members.  The Company Representative shall
              give prompt written notice to each other Member (including a former Member) of any and all notices it receives from the Internal Revenue Service concerning the Company, including any notice of audit, any notice of action with respect to a
              revenue agent’s report, any notice of a thirty (30) day appeal letter, and any notice of a deficiency in Tax concerning the Company’s federal income tax return. Following commencement of any audit, examination, or proceeding that could result
              in an adjustment to the tax items recognized by any Member or any former Member (including as a result of having an impact on a subsequent year), the Company Representative shall keep each such Member or former Member reasonably and promptly
              informed of any significant matter, event, or proceeding in connection with such audit, examination, or proceeding (including periodic updates regarding the status of any negotiations between the Internal Revenue Service and the Company). 
              The Company Representative shall take no action without the authorization of the Board, other than such action as may be required by law.  Without the approval of the Board, the Company Representative shall not extend the statute

           

            

          
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           of limitations, file a request for administrative adjustment, file suit
              concerning any federal, state or local tax refund or deficiency relating to any Company administrative adjustment or enter into any settlement agreement relating to any Company item of income, gain, loss, deduction or credit for any fiscal
              year of the Company, or take any other material action relating to any federal, state or local tax proceeding involving the Company.  The Company shall reimburse the Company Representative for any reasonable out-of-pocket expenses that the
              Company Representative incurs in connection with its obligations as Company Representative.  In the event that the Board determines that the foregoing provisions are no longer applicable to the Company, either due to a change of controlling
              law or the enactment of applicable Treasury Regulations, the Board is authorized to take any reasonable actions as may be required concerning tax matters of the Company not otherwise addressed in this Article V.

           

          (b)         Notwithstanding the foregoing, to the extent that the revised partnership audit rules under the Budget Act are applicable to the Company (and, for avoidance of doubt, subject to and after application of paragraph (a)), in the event
              that there is a determination of an adjustment under Section 6225 of the Code, as amended by the Budget Act, affecting the Company, the Board shall determine the appropriate response, which may include (i) instructing all Members and former
              Members to file amended income tax returns so as to comply with Section 6225(c)(2)(A) of the Code, as amended by the Budget Act, in which case all Members agree to file the necessary amended returns, even if they are no longer Members, (ii)
              utilizing the alternative procedures under Code Section 6225(c)(2)(B), in which case all Members agree to comply with all applicable procedures, even if they are no longer Members, (iii) making an election under Section 6226(a) of the Code,
              as amended by the Budget Act, in which case all Members agree to report the appropriate adjustment as necessary, or (iv) causing the Company to pay the tax, interest and penalties, if any, imposed by Section 6225 of the Code, as amended by
              the Budget Act.

           

          (c)        In the event of the filing of an amended tax return for the Company, due to circumstances described in paragraph (b) or otherwise, Capital Accounts shall be adjusted accordingly.  If an election is made under Section 6226(a) of the
              Code, as amended by the Budget Act, the amount of the adjustment taken into account by the Members shall be reflected in Capital Accounts shall be made accordingly.  If the determination of an adjustment under Section 6225 of the Code, as
              amended by the Budget Act, is an adjustment to the Members’ respective distributive shares of income, gain, loss, deduction or credit, and the alternative under paragraph (b)(iii) is selected, then the amount of taxes, but not interest or
              penalties, if any, paid by the Company shall be the “Tax Adjustment” and each Member whose taxes would have been increased or reduced if the Company had
              originally reported in accordance with the determination of adjustment shall be an “Adjusted Tax Member.”  Retroactively, the Company shall increase, by the
              amount of the Tax Adjustment, the amount that is deemed to have been distributed pursuant to Section 4.3(b) to each Adjusted Tax Member whose taxes would have been increased if the
              Company had originally reported in accordance with the determination of adjustment, and the Company shall reduce, by the amount of the Tax Adjustment, the amount that is deemed to have been distributed pursuant to Section 4.3(b) to each Adjusted Tax Member whose taxes would have been reduced if the Company had originally reported in

           

            

          
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           accordance with the determination of adjustment.  Finally, the Members’ distributive shares of income, gain, loss, deduction and
              credit for the year in which the determination of an adjustment under Section 6225 of the Code, as amended by the Budget Act, is effective and all future years shall be adjusted as appropriate.

           

          (d)          In any case in which the Company Representative considers any decision involving any proposed or possible settlement with a taxing authority that involves both issues principally or disproportionately affecting the Company
                Representative and other issues principally or disproportionately affecting other partners, the Company Representative shall not engage in self-dealing.

           

          (e)          If a taxing authority proposes adjustments affecting a substantial number of former Members of the Company and such adjustments appear to have a low likelihood of prevailing on the merits (as reasonably determined by the Company
                Representative), the Company Representative shall use Company resources to contest such proposed adjustments to the same extent that the Company Representative would do so, exercising reasonable business judgment, if such former Members
                were current Members to whom the cost of contesting such proposed adjustments were to be allocated. In addition, specific agreements may be made by the Company or the Company Representative and Members regarding the treatment of issues of
                special concern to any Members selling, liquidating, or reducing their interests.

           

          (f)          In any case in which the previous subsection or any other provision does not result in a decision to use Company resources, the Company Representative shall endeavor to offer affected Members the opportunity to fund and direct
                efforts of the Company Representative to contest a proposed adjustment, and the Company Representative shall have the authority (to the extent permitted by applicable tax law and IRS procedures) to concede or compromise any issue with
                respect to any direct or indirect current or former Members not willing to bear their reasonably determined share of the costs of continuing a controversy concerning a proposed adjustment.

           

          Section 5.9          Budgets.  For each fiscal
              year commencing with the fiscal year commencing January 1, 2021, the Budgeted Expenses to be made by the Company and any of its Subsidiaries for such fiscal year shall be set forth in a proposed line-item budget (a “Draft Budget”) which shall be adopted by the Board (as adopted, an “Approved Budget”).  Each Draft Budget shall be prepared and approved or disapproved by the Board as follows:

           

          (a)         The Company shall prepare and submit for approval by the Board a Draft Budget estimating the Budgeted Expenses to be incurred during the next succeeding fiscal year by the Company and/or any of its Subsidiaries.  The Draft Budget
                shall itemize the costs estimated in the Approved Budget by such individual line items as are reasonably requested by the Managers.  The Company shall submit a Draft Budget no later than sixty (60) days prior to the commencement of the
                applicable fiscal year. The officers of the Company shall be required to cooperate and meet with the Board concerning the Draft Budget and make changes as requested by the Board.

           

              

          
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          (b)         The Board shall approve or disapprove such annual expenditures no later than thirty (30) days prior to the beginning of the next succeeding fiscal year. If the Board has failed to approve a Draft Budget by the commencement of a
                fiscal year, then until a Draft Budget is approved, the Company is authorized to incur (i) costs and expenses incurred in the ordinary course of business in amounts materially consistent with the prior year’s Approved Budget, (ii) costs and
                expenses to the extent incurred pursuant to the existing contractual obligations of the Company and its Subsidiaries and (iii) such other costs and expenses approved as expressly contemplated by this Agreement.

           

          ARTICLE VI. INDEMNIFICATION

           

          Section 6.1         General.  Subject to the limitations and conditions provided herein and to the fullest extent permitted by applicable laws, each Person who was or is made a party or is threatened to be made a party to or is
              involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, arbitrative or investigative (hereinafter a “Proceeding”), or any appeal in such a Proceeding or any inquiry or investigation that could lead to such a Proceeding, by reason of the fact that he or she, or a Person of whom he or she is the legal
              representative, is or was a Member of the Company or Affiliate thereof or any of their respective representatives, a Manager, a member of a committee of the Company, the Tax Matters Member, the Company Representative or an officer of the
              Company, or while such a Person is or was serving at the request of the Company as a director, officer, partner, venturer, member, trustee, employee, agent or similar functionary of another foreign or domestic general partnership,
              corporation, limited partnership, joint venture, limited liability company, trust, employee benefit plan or other enterprise (each an “Indemnitee”), shall be indemnified by the Company to the extent such Proceeding or other above-described process relates to any such above-described relationships with, status with respect to, or representation
              of any such Person to the fullest extent permitted by the Act, as the same exists or may hereinafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader
              indemnification rights than said laws permitted the Company to provide prior to such amendment) against judgments, penalties (including excise and similar taxes and punitive damages), fines, settlements and reasonable expenses (including
              attorneys’ and experts’ fees) actually incurred by such Person in connection with such Proceeding, and indemnification under this Section 6.1 shall continue as to a Person who has ceased to serve in the capacity that initially
              entitled such Person to indemnity hereunder for any and all liabilities and damages related to and arising from such Person’s activities while acting in such capacity; provided, however, that no Person shall be entitled to indemnification under this Section
                6.1 if there has been a final and non-appealable judgment entered by a court of competent jurisdiction determining that, in respect of the matter for which such Person is seeking indemnification pursuant to this Section 6.1 such
              Person’s actions or omissions constituted an intentional breach of this Agreement or gross negligence or willful misconduct on the part of such Person or, in the case of a criminal matter, acted with knowledge that the Indemnitee’s conduct
              was unlawful.  Any indemnification pursuant to this Section 6.1 shall be made only out of the assets of the Company, it being agreed that the Members shall not be personally liable for such indemnification and shall have no obligation
              to contribute or loan any monies or property to the Company to enable it to effectuate such indemnification. The rights granted pursuant to this Section 6.1 shall be deemed contract rights, and no amendment, modification or repeal of
              this Section 6.1 shall have the effect of limiting or denying any such rights with respect to actions taken or Proceedings arising prior to any such amendment,

           

            

          
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           modification or repeal.  An Indemnitee shall not be denied indemnification in whole or in part under this Section
                6.1 because the Indemnitee had an interest in the transaction with respect to which the indemnification applies if the transaction was otherwise permitted by the terms of this Agreement.  IT IS ACKNOWLEDGED THAT THE INDEMNIFICATION
              PROVIDED IN THIS SECTION 6.1 COULD INVOLVE INDEMNIFICATION FOR NEGLIGENCE OR UNDER THEORIES OF STRICT LIABILITY.  For purposes of this Article VI, “officers of the Company” shall include, without limitation, the Company’s and
              each of its Subsidiaries’ Chief Executive Officer, Chief Operating Officer, President, any Vice President, Treasurer and Secretary.

           

          Section 6.2       Indemnification of Officers, Employees (if any) and Agent.  The Company may indemnify and advance expenses to Persons who are not entitled to indemnification under Section 6.1, including current and
            former employees (if any) or agents of the Company, and those Persons who are or were serving at the request of the Company as a manager, director, officer, partner, venturer, member, trustee, employee (if any), agent or similar functionary of
            another foreign or domestic general partnership, corporation, limited partnership, joint venture, limited liability company, trust, employee (if any) benefit plan or other enterprise against any liability asserted against such Person and
            incurred by such Person in such a capacity or arising out of his status as such a Person to the same extent that it may indemnify and advance expenses to a Member under this Article VI.

           

          Section 6.3        Non-exclusivity of Rights; Insurance.  The right to indemnification and the advancement and payment of expenses conferred in Article VI shall not be exclusive of any other right that a Person indemnified pursuant to Section 6.1 or Section 6.2 may have or hereafter acquire under any laws, this Agreement, or any
              other agreement, vote of Members or otherwise.  The Company may purchase and maintain (or may reimburse an Indemnitee for the cost of) insurance, on behalf of an Indemnitee as the Board shall determine, against any liability that may be
              asserted against, or expense that may be incurred by, such Indemnitee in connection with the Company’s activities or such Indemnitee’s activities on behalf of the Company, regardless of whether the Company would have the power to indemnify
              such Indemnitee against such liability under the provisions of this Agreement.

           

          Section 6.4       Savings Clause.  If Article VI or any portion thereof shall be invalidated on any ground by any court of
              competent jurisdiction, then the Company shall nevertheless indemnify and hold harmless any Person entitled to be indemnified pursuant to Article VI as to costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding, whether civil, criminal,
              administrative or investigative to the full extent permitted by any applicable portion of this Article VI
              that shall not have been invalidated and to the fullest extent permitted by laws.

           

          Section 6.5         Scope of Indemnity.  For the purposes of Article VI, references to the “Company” include all constituent entities, whether corporations or otherwise, absorbed in a consolidation or merger as well as the resulting or
              surviving entity.  Thus, any Person entitled to be indemnified or receive advances under Article VI
              shall stand in the same position under the provisions of Article VI with respect to the resulting
              or surviving entity as he would have if such merger, consolidation, or other reorganization never occurred.

           

              

          
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          Section 6.6          Other Indemnities.  The Company acknowledges that
            certain Indemnitees may have rights to indemnification, advancement of expenses and/or insurance provided by Persons other than the Company.  The Company acknowledges and agrees that the obligation of the Company under this Agreement to
            indemnify or advance expenses to any Indemnitee for the matters covered thereby shall be the primary source of indemnification and advancement of such Indemnitee in connection therewith and any right on the part of any Indemnitee under any
            other agreement to be indemnified or have expenses advanced to such Indemnitee shall be secondary to the Company’s obligation and shall be reduced by any amount that the Indemnitee may collect as indemnification or advancement from the
            Company.  If the Company fails to indemnify or advance expenses to an Indemnitee as required or contemplated by this Agreement, and any Person makes any payment to such Indemnitee in respect of indemnification or advancement of expenses under
            any other agreement pursuant to which such Person is entitled to indemnification on account of such unpaid indemnity amounts, such other Person shall be subrogated to the rights of such Indemnitee under this Agreement in respect of such unpaid
            indemnity amounts.

           

          Section 6.7          Replacement of Fiduciary Duties.  Notwithstanding any
            other provision of this Agreement, to the extent that any provision of this Agreement purports or is interpreted (a) to have the effect of replacing, restricting or eliminating the duties that might otherwise, as a result of Delaware or other
            applicable law, be owed by the Board or any other Indemnitee to the Company, the Members, any other Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement or (b) to constitute a waiver or
            consent by the Company, the Members, any other Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement to any such replacement or restriction, such provision shall be deemed to have been approved
            by the Company, all of the Members, each other Person who acquires an interest in a Company Interest and each other Person who is bound by this Agreement.

           

          Section 6.8          Liability of Indemnitees.

           

          (a)         Notwithstanding anything to the contrary set forth in this Agreement, no Indemnitee shall be liable for monetary damages to the Company, the Members, any other Person who acquires an interest in a Company
                Interest or any other Person who is bound by this Agreement, for losses sustained or liabilities incurred as a result of any act or omission of an Indemnitee unless there has been a final and non-appealable judgment entered by a court of
                competent jurisdiction determining that, in respect of the matter in question, the Indemnitee acted in bad faith or in the case of a criminal matter, acted with knowledge that the Indemnitee’s conduct was criminal.  The Members, any other
                Person who acquires an interest in a Company Interest or any other Person who is bound by this Agreement, each on their own behalf and on behalf of the Company, waives any and all rights to claim punitive damages or damages based upon the
                federal or state income taxes paid or payable by any such Member or other Person.

           

          (b)        The Board may
              exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it hereunder either directly or by or through its agent or agents, and the Board shall not be responsible for any misconduct or negligence
              on the part of any such agent appointed by the Board in good faith.

           

            

          
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          (c)         To the extent
              that, at law or in equity, an Indemnitee has duties (including fiduciary duties) and liabilities relating thereto to the Company, the Members, any Person who acquires an interest in a Company Interest or any other Person who is bound by this
              Agreement, any Indemnitee acting in connection with the Company’s business or affairs shall not be liable, to the fullest extent permitted by law, to the Company, to any Member, to any other Person who acquires an interest in a Company
              Interest or to any other Person who is bound by this Agreement for its reliance on the provisions of this Agreement.

           

          (d)         Any amendment,
              modification or repeal of this Agreement or any provision hereof shall be prospective only and shall not in any way affect the limitations on the liability of the Indemnitees under this Agreement as in effect immediately prior to such
              amendment, modification or repeal with respect to claims arising from or relating to matters occurring, in whole or in part, prior to such amendment, modification or repeal, regardless of when such claims may arise or be asserted.

           

          Section 6.9          Standards of Conduct and Modification of Duties.

           

          (a)        Whenever the
              Board or the Managers make a determination or take or decline to take any other action, whether under this Agreement or any other agreement contemplated hereby or otherwise, then, unless another express standard is expressly provided for in
              this Agreement, the Board or the Managers (as the case may be) shall make such determination or take or decline to take such other action in good faith and shall not be subject to any higher standard contemplated hereby or under the Act or
              any other applicable law or at equity.  A determination, other action or failure to act by the Board or the Managers (as the case may be) will be deemed to be in good faith unless the Board or the Managers (as the case may be) believed such
              determination, other action or failure to act was adverse to the interests of the Company.  In any proceeding brought by the Company, any Member or any Person who acquires an interest in a Company Interest or any other Person who is bound by
              this Agreement challenging such action, determination or failure to act, the Person bringing or prosecuting such proceeding shall have the burden of proving that such determination, action or failure to act was not in good faith.

           

          (b)        To the extent
              that, at law or in equity, a Member owes any duties (including fiduciary duties) to the Company, any other Member or other holder of Company Interests or any other Person pursuant to applicable laws or this Agreement such duty is hereby
              eliminated to the fullest extent permitted pursuant to applicable law, it being the intent of the Members that to the extent permitted by applicable law and except to the extent another express standard is specified elsewhere in this
              Agreement, no Member shall owe any duties of any nature whatsoever to the Company, the other Members or any other holder of Company Interests or any other Person, other than the duty of good faith and fair dealing, and each Member may decide
              or determine any matter in its sole and absolute discretion taking into account solely its interests and those of its Affiliates (excluding the Company and its Subsidiaries) subject to the duty of good faith and fair dealing.  Except with
              respect to the express obligations set forth in this Agreement or any other agreement to which any Member is a party, to the maximum extent permitted by applicable law, the Company and each Member hereby waives any claim or cause of action
              against, and hereby eliminate all liabilities of, each Member, solely in its capacity as a Member, for any breach of any duty (including fiduciary duties) to the Company, the other Members or any other holder of Company Interests or any other
              Person.  Nothing herein is intended to create a partnership, joint venture,

           

            

          
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           agency or other relationship creating fiduciary or quasi-fiduciary duties or similar duties or obligations, otherwise subject the Members to joint
              and several liability or vicarious liability or to impose any duty, obligation or liability that would arise therefrom with respect to any or all of the Members or the Company.

           

          ARTICLE VII. RIGHTS OF MEMBERS

           

          Section 7.1         General.  Each of the Members shall have the right to: (a) have the Company books and
            records (including those required under the Act) kept at the principal United States office of the Company and at all reasonable times to inspect and copy any of them at the sole expense of such Member; (b) have on demand true and full
            information of all things affecting the Company and a formal account of Company affairs whenever circumstances render it just and reasonable; (c) have dissolution and winding up of the Company by decree of court as provided for in the Act; and
            (d) exercise all rights of a Member under the Act (except to the extent otherwise specifically provided herein).  Notwithstanding the foregoing, the Members shall not have the right to receive data pertaining to the assets or business of the
            Company if the Company is subject to a valid agreement prohibiting the distribution of such data or if the Board shall otherwise determine that such data is Confidential Information.

           

          Section 7.2         Limitations on Members.  No Member (in
              his, her or its capacity as a Member) shall (a) be permitted to take part in the business or control of the business or affairs of the Company; (b) have any voice in the management or operation of any Company property; (c) have the authority
              or power to act as agent for or on behalf of the Company or any other Member, to do any act which would be binding on the Company or any other Member, or to incur any expenditures on behalf of or with respect to the Company; or (d) hold out
              or represent to any third party that the Members have any such power or right or that the Members are anything other than “members” of the Company.  The foregoing provision shall not be applicable to a Member acting in his or its capacity as a Manager or an officer of the Company.

           

          Section 7.3         Liability of Members.  No Member shall be liable for the debts, liabilities, contracts
            or other obligations of the Company except as otherwise provided in the Act or as expressly provided in this Agreement.

           

          Section 7.4         Withdrawal and Return of Capital Contributions.  No Member shall be entitled to (a) withdraw from the Company except upon the assignment by such Member of all of its Company Interest in accordance with Article
              X, or (b) the return of its Capital Contributions except to the extent, if any, that distributions made pursuant to the express terms of this Agreement may be considered as such
              by law or upon dissolution and liquidation of the Company, and then only to the extent expressly provided for in this Agreement and as permitted by law.

           

          Section 7.5          Voting Rights.  Except as otherwise provided herein, to the extent that the vote of the Members may be required hereunder, a written consent executed by a Majority Interest shall be an
              act of the Members.

           

                

          
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          ARTICLE VIII. BOOKS, REPORTS, MEETINGS AND CONFIDENTIALITY

           

          Section 8.1          Capital Accounts, Books and Records.

           

          (a)        The Company shall keep books of account for the Company in accordance with the terms of this Agreement.  Such books shall be maintained at the principal office of the Company.

           

          (b)        An individual capital account (the “Capital Account”) shall be maintained by the Company for each Member as provided below:

           

          (i)          The Capital Account of each Member shall, except as otherwise provided herein, be increased by the amount of cash and the Fair Market Value of any property contributed to the Company by such Member (net of liabilities secured by such
              contributed property that the Company is considered to assume or take subject to under Section 752 of the Code) and by such Member’s share of the Net Profits of the Company and special allocations of income or gain under Section 4.2, and shall be decreased by such Member’s share of the Net Losses of the Company and special
              allocations of deductions of loss under Section 4.2 and by the amount of cash or the Fair Market
              Value of any property distributed to such Member (net of liabilities secured by such distributed property that such Member is considered to assume or take subject to under Code Section 752).  The Capital Accounts shall also be increased or
              decreased (A) to reflect a revaluation of Company property pursuant to paragraph (b) of the definition of Carrying Value and (B) upon the exercise of any non-compensatory warrant pursuant to the requirements of Treasury Regulations Sections
              1.704-1(b)(2)(iv)(d)(4) and 1.704-1(b)(2)(iv)(s), as such Treasury Regulations may be amended or modified.

           

          (ii)        Any adjustments of basis of Company property provided for under Code Sections 734 and 743 and comparable provisions of state law (resulting from an election under Code Section 754 or comparable provisions of state law) shall not
              affect the Capital Accounts of the Members (unless otherwise required by applicable Treasury Regulations), and the Members’ Capital Accounts shall be debited or credited pursuant to the terms of this Section 8.1 as if no such election had been made.

           

          (iii)        Capital Accounts shall be adjusted, in a manner consistent with this Section 8.1, to
              reflect any adjustments in items of Company income, gain, loss or deduction that result from amended returns filed by the Company or pursuant to an agreement by the Company with the Internal Revenue Service or a final court decision.

           

          (iv)        It is the intention of the Members that the Capital Accounts of each Member be kept in the manner required under Treasury Regulations Section 1.704-1(b)(2)(iv).  To the extent any additional adjustment to the Capital Accounts is
              required by such regulation, the Board is hereby authorized to make such adjustment after notice to the Members.

           

          
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          (v)       The Board shall have the discretion to adjust the Members’ Capital Accounts to reflect a revaluation of the Company’s properties on its books upon the occurrence of an event specified in Treasury Regulations Section
              1.704-1(b)(2)(iv)(f).  If the Board makes a determination that any such adjustment is appropriate, the Capital Accounts of all Members and the Carrying Values of all Company properties shall, immediately prior to such event, be adjusted
              upward or downward to reflect any Unrealized Gain or Unrealized Loss attributable to the Company properties, as if such Unrealized Gain or Unrealized Loss had been recognized on an actual Transfer of each such property immediately prior to
              such event for an amount equal to its Fair Market Value and had been allocated to the Members at such time pursuant to Section 4.1 and Section 4.2.

           

          (vi)      Any Person who acquires a Company Interest directly from a Member, or whose Company Interest shall be increased by means of a Transfer to it of all or part of the Company Interest of another Member, shall have a Capital Account
              (including a credit for all Capital Contributions made by such Member Transferring such Company Interest) which includes the Capital Account balance of the Company Interest or portion thereof so acquired or Transferred.

           

          Section 8.2          Bank Accounts.  The Board shall cause one or more Company accounts to be maintained in
            a bank (or banks) which is a member of the Federal Deposit Insurance Corporation or some other financial institution, which accounts shall be used for the payment of the expenditures incurred by the Company in connection with the business of
            the Company, and in which shall be deposited any and all receipts of the Company.  The Board shall determine the number of and the Persons who will be authorized as signatories on each such bank account.  The Company may invest the Company
            funds in such money market accounts or other investments as the Board may select.

           

          Section 8.3          Reports.

           

          (a)          The Company shall provide to each Member the following reports in addition to any other reports or information reasonably requested by a Member:

           

          (i)          as soon as available, and in any event within five (5) Business Days of quarter end and seven (7) Business Days of year end, a pre-tax trial balance and pre-tax financial statements for the respective period;

           

          (ii)         as soon as available, and in any event within ten (10) Business Days of quarter end and eleven (11) Business Days of year end, an after-tax trial balance and after-tax financial statements for the respective period;

           

          (iii)       as soon as available, and in any event within forty-five (45) days (or such later date as approved in writing by CORR) of the Company’s year-end, audited consolidated financial statements of the Company as at the end of each such
                fiscal year and audited consolidated statements of income, cash flows and Members’ equity for such fiscal year, in each case setting forth in comparative form the figures for the previous fiscal year, accompanied by the certification of

           

              

          
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           independent certified public accountants of recognized national standing, certifying to the effect that, except as
                set forth therein, such financial statements have been prepared in accordance with GAAP, applied on a basis consistent with prior years, and fairly present in all material respects the financial condition of the Company as of the dates
                thereof and the results of their operations and changes in their cash flows and Members’ equity for the periods covered thereby, and a schedule showing any variance between actual and budgeted figures (as set forth on the Approved Budget);

           

          (iv)       as soon as available, and in any event within ten (10) Business Days of the end of any fiscal quarter, quarterly unaudited consolidated financial statements of the Company for the previous quarter, including unaudited consolidated
              balance sheets of the Company as at the end of each such fiscal quarter and for the current fiscal year to date and unaudited consolidated statements of income, cash flows and Members’ equity for such fiscal quarter and for the current fiscal
              year to date, in each case setting forth in comparative form the figures for the corresponding periods of the previous fiscal quarter, all in reasonable detail and all prepared in accordance with GAAP, consistently applied (subject to normal
              year-end audit adjustments and the absence of notes thereto), and certified by the principal financial or accounting officer of the Company, and a schedule showing any variance between actual and budgeted figures (as set forth on the Approved
              Budget);

           

          (v)         as soon as available, and in any event within ten (10) days of the end of each month, unaudited monthly financial statements of the Company, including unaudited consolidated balance sheets of the Company as at the end of each such
              monthly period and for the current fiscal year to date and unaudited consolidated statements of income, cash flows and Members’ equity for each such monthly period and for the current fiscal year to date, all in reasonable detail and all
              prepared in accordance with GAAP, consistently applied (subject to normal year-end audit adjustments and the absence of notes thereto) and business summary reports;

           

          (vi)         promptly upon request, copies of any Approved Budget (and any Draft Budgets);

           

          (vii)       prompt notice of any event that would reasonably be expected to have a material effect on the Company’s financial condition, business or operations, including any statements from the Company’s independent accountants in respect of
              the Company’s status as a going concern, service of any material lawsuit on the Company or notice of material violations of any material law or regulation;

           

          (viii)      concurrently with delivery to any lender (or agent thereof) of the Company or any of its Subsidiaries, any report or document to be delivered to such lender or agent pursuant to the terms of any credit
              or other financing agreement of the Company or any of its Subsidiaries; and

           

          
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          (ix)        any material reports prepared by or on behalf of the Company with respect to matters relating to asset maintenance and/or asset integrity.

           

          (b)         In addition to Section 8.3(a) and notwithstanding anything to the contrary therein, in order to enable CORR to comply with reporting requirements in filings to be made
                with the Securities and Exchange Commission, the Company shall:

           

          (i)         submit a reporting package to assist with the preparation of CORR’s SEC reporting obligations, including statements of member’s equity and cash flows and certain disclosure items, within eleven (11) Business Days of quarter end and
                fourteen (14) Business Days of year end;

           

          (ii)         submit quarterly and year to date analytics comparing current quarter and year to date periods to prior year quarter and year to date periods to assist with preparation of management’s discussion and analysis in CORR’s SEC filings
                within twelve (12) Business Days of quarter end and sixteen (16) Business Days of year end;

           

          (iii)     design and maintain internal controls providing for (1) reasonable assurance regarding the reliability of the Company’s financial reporting, including the presentation of the Company’s financial statements in accordance with GAAP
                and (2) the safeguarding of the Company’s assets;

           

          (iv)       to the extent that CORR’s obligations to maintain effective internal control over financial reporting pursuant to applicable laws and regulations (including those promulgated by the Securities and Exchange Commission) require  the
                Company to comply with such laws and regulations, including, but not limited to, the determination by CORR that CORR must consolidate the Company under GAAP, ensure that its internal controls comply with the laws, regulations, and control
                framework applicable to CORR;

           

          (v)         if CORR has advised the Company in writing that CORR is required to file an Auditor’s Report with respect to the Company’s financial information delivered under Section 8.3(b)(ii),
                in filings to be made by CORR with the Securities and Exchange Commission, cause its auditor to provide the Auditor’s Report; and

           

          (vi)        afford CORR and its outside legal and accounting representatives access to (a) the Company’s properties, offices, and other facilities; (b) the corporate, financial and similar records, reports and documents of the Company,
                including all books and records, minutes of proceedings, internal management documents, reports of operations, reports of adverse developments, copies of any management letters and communications with Members, and to permit CORR and its
                representatives to examine such documents and make copies thereof or extracts therefrom; and (c) any officers, senior employees and accountants of the Company, and to afford each Member and its representatives the opportunity to discuss and
                advise on the affairs, finances and accounts of the Company with such officers,

           

              

          
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           senior employees and accountants (and the Company hereby authorizes such employees and accountants to discuss with
                CORR and its representatives such affairs, finances and accounts).

           

          (c)         Financial statements, reports and other information required or permitted to be furnished by the Company pursuant to Section 8.3(a) above may be submitted by the Company
                by email addressed to CORR.

           

          Section 8.4        Meetings of Members.  The Board may hold meetings of the Members from time to time to inform and consult with the Members
              concerning the Company’s assets and such other matters as the Board deems appropriate; provided, that nothing in
              this Section 8.4 shall require the Board to hold any such meetings.  Such meetings shall be held at
              such times and places, as often and in such manner as shall be determined by the Board.  The Board at its election may separately inform and consult with the Members for the above purposes without the necessity of calling and/or holding a
              meeting of the Members.  Notwithstanding the foregoing provisions of this Section 8.4, the Members
              shall not be permitted to take part in the business or control of the business of the Company; it being the intention of the parties that the involvement of the Members as contemplated in this Section 8.4 is for the purpose of informing the Members with respect to various Company matters, explaining any information furnished to the
              Members in connection therewith, answering any questions the Members may have with respect thereto and receiving any ideas or suggestions the Members may have with respect thereto; it being the further intention of the parties that the Board
              shall have full and exclusive power and authority on behalf of the Company to acquire, manage, control and administer the assets, business and affairs of the Company in accordance with Section 5.1 and the other applicable provisions of this Agreement.

           

          ARTICLE IX. DISSOLUTION, LIQUIDATION AND TERMINATION

           

          Section 9.1          Dissolution.  The Company shall be dissolved upon the occurrence of any of the
            following:

           

          (a)          The sale, disposition or termination of all or substantially all of the property then owned by the Company; or

           

          (b)          Board Approval.

           

          Section 9.2          Liquidation and Termination.  Upon dissolution of the Company, the Board or, if the
            Board so desires, a Person selected by the Board, shall act as liquidator or shall appoint one or more liquidators who shall have full authority to wind up the affairs of the Company and make final distribution as provided herein.  The
            liquidator shall continue to operate the Company properties with all of the power and authority of the Board.  The steps to be accomplished by the liquidator are as follows:

           

          (a)         As promptly as possible after dissolution and again after final liquidation, the liquidator, if requested by any Member, shall cause a proper accounting to be made by the Company’s independent accountants of the Company’s assets,
              liabilities and operations through the last day of the month in which the dissolution occurs or the final liquidation is completed, as appropriate.

           

          
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          (b)         Following the occurrence of either of the events specified in Section 9.1 above, and the receipt of any approval required by the CORR stockholders, immediately prior to
                liquidation of the Company, the following shall occur:

           

          (i)          each Class A-1 Unit will be exchanged for a share of CORR Series C Preferred Stock, unless CORR has previously elected to effectuate a CORR Series C Exchange, in which case each Class A-1 Unit will be exchanged for a number of
                shares of CORR Series A Preferred Stock pursuant to the exchange provisions set forth in the Articles Supplementary for such Series C Preferred Stock;

           

          (ii)          each Class A-2 Unit will be exchanged for a share of CORR Series B Preferred Stock; and

           

          (iii)       each Class A‐3 Unit will be exchanged for a share of CORR Class B Common Stock, unless the CORR Class B Common Stock Conversion has occurred, in which case each Class A‐3 Unit will be exchanged for a number of shares of CORR Common
                Stock as would have been received pursuant to the conversion provision set forth in the Articles Supplementary for such Class B Common Stock.

           

          In order to process such exchange, the Grier Members and the Management Members shall submit such written representations,
            investment letters, legal opinions or other instruments necessary, in CORR’s reasonable discretion, to effect compliance with the Securities Act of 1933, as amended (the “Securities

                Act”) and relevant state securities or “blue sky” laws.  The CORR Securities shall be delivered by CORR as duly authorized, validly issued, fully paid and non-assessable shares of CORR Securities, free of any pledge, lien,
            encumbrance or restriction, other than any ownership limits set forth in the charter of CORR, the Securities Act and relevant state securities or “blue sky” laws.  Except as explicitly set forth in a separate
            agreement, neither any Grier Member nor any other interested Person shall have any right to require or cause CORR to register, qualify or list any CORR Securities owned or held by such Person, whether or not such CORR Securities are issued
            pursuant to this Section 9.2(b), with the SEC, with any state securities commissioner, department or agency, under the Securities Act or the Exchange Act or with any stock exchange.
            CORR Securities issued pursuant to this Section 9.2(b) may contain such legends regarding restrictions under the Securities Act and applicable state securities laws as CORR determines
            to be necessary or advisable in order to ensure compliance with such laws.  Upon the closing of the exchange of CORR Securities pursuant to this Section 9.2(b), the Company shall
            distribute an amount equal to the excess of (x) the Class A-1 Members’ Preferred Return Per Class A-1 Unit with respect to Class A-1 Units being exchanged over the aggregate amount previously distributed with respect to such Class A-1 Units
            pursuant to Section 4.3(b)(i) through the date of exchange, (y) the Class A-2 Members’ Preferred Return Per Class A-2 Unit with respect to Class A-2 Units being exchanged over the
            aggregate amount previously distributed with respect to such Class A-2 Units pursuant to Section 4.3(b)(ii) through the date of exchange, and

           

          

          
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           (z) the Class A-3 Members’ Preferred Return Per Class A-3 Unit with respect to Class A-3 Units being exchanged over the aggregate amount
            previously distributed with respect to such Class A-3 Units pursuant to Section 4.3(b)(iii) through the date of exchange.

           

          (c)       Thereafter, the liquidator shall pay all of the debts and liabilities of the Company (including all expenses incurred in liquidation) or otherwise make adequate provision therefor (including the establishment of a cash escrow fund
              for contingent liabilities in such amount and for such term as the liquidator may reasonably determine).  After making payment or provision for all debts and liabilities of the Company, the liquidator shall sell all properties and assets of
              the Company for cash as promptly as is consistent with obtaining the best price and terms therefor; provided, however, that upon approval of the Board, the liquidator may distribute one or more properties in kind.  All Net Profit and Net Loss (or other items of income, gain loss or deduction allocable under Section 4.2) realized on such sales shall be allocated to the Members in accordance with Section 4.1(a) and Section
                  4.2 of this Agreement, and the Capital Accounts of the Members shall be adjusted accordingly.  In the event of a distribution of properties in kind, the
              liquidator shall first adjust the Capital Accounts of the Members by the amount of any Net Profit or Net Loss (or other items of income, gain loss or deduction allocable under Section 4.2) that would have been recognized by the Members if such properties had been sold at then-current Fair Market Values. The liquidator shall then
              distribute the proceeds of such sales or such properties to the Members in the manner provided in Section
                4.3(b).  If the foregoing distributions to the Members do not equal the Member’s respective positive Capital Account balances as determined after giving effect to the
              foregoing adjustments and to all adjustments attributable to allocations of Net Profit and Net Loss realized by the Company during the taxable year in question and all adjustments attributable to contributions and distributions of money and
              property effected prior to such distribution, then the allocations of Net Profit and Net Loss provided for in this Agreement shall be adjusted, to the least extent necessary, to produce a Capital Account balance for each Member which
              corresponds to the amount of the distribution to such Member.  Each Member shall have the right to designate another Person to receive any property that otherwise would be distributed in kind to that Member pursuant to this Section 9.2.

           

          (d)        Except as expressly provided herein, the liquidator shall comply with any applicable requirements of the Act and all other applicable laws pertaining to the winding up of the affairs of the Company and the final distribution of its
              assets.

           

          (e)          Notwithstanding any provision in this Agreement to the contrary, no Member shall be obligated to restore a deficit balance in its Capital Account at any time.

           

          The distribution of cash and/or property to the Members in accordance with the provisions of this Section 9.2 shall constitute a complete return to the Members of their Capital Contributions and a complete distribution to the Members of their
            Company Interest and all Company property.

           

          

          
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          ARTICLE X. TRANSFERS OF COMPANY INTERESTS

           

          Section 10.1        Transfer of Company Interests.

           

          (a)          No Member’s Company Interest or rights therein shall be Transferred, or made subject to an Indirect Transfer, in whole or in part, without the written consent of each other Member, which consent shall not be unreasonably withheld,
              conditioned or delayed; provided, however, that any Member may Transfer its Company Interest
              without obtaining such consent pursuant to a Permitted Transfer. Any attempt by a Member to Transfer its Company Interest in violation of the immediately preceding sentence shall be void ab initio.

           

          (b)         [Intentionally Omitted].

           

          (c)          If any Company Interest is required by law to be Transferred to a spouse of a holder thereof pursuant to an order of a court of competent jurisdiction in a divorce proceeding (notwithstanding the provisions of Section 10.1(a)), then such holder shall nevertheless retain all rights with respect to such interest
              and any interest of such spouse shall be subject to such rights of such holder.  In addition, if it is determined that the holder will be required to pay any taxes attributable to such interest of the spouse in the Company, then any tax
              liability of such holder that is attributable to such spouse’s interest shall be taken into account, and shall reduce such spouse’s interest in the Company; in no event shall the Company be required to provide any financial, valuation or
              other information regarding the Company or any of its Subsidiaries or Affiliates or any of their respective assets to the spouse or former spouse of such holder.

           

          (d)         Unless an assignee of a Company Interest becomes a substituted Member in accordance with the provisions set forth below, such assignee shall not be entitled to any of the rights granted to a Member hereunder, other than the right to
              receive allocations of income, gains, losses, deductions, credits and similar items and distributions to which the assignor would otherwise be entitled, to the extent such items are assigned.

           

          (e)        An assignee of a Company Interest pursuant to a Permitted Transfer shall become a substituted Member of the Company, entitled to all of the rights of the assigning Member with respect to such assigned Company Interest,
                automatically upon request by the assignee.  Any other assignee of a Company Interest shall become a substituted Member if, and only if, (i) the assignor gives the assignee such right, (ii) the substitution is approved by the board, and
                (iii) if the Board so requires, the assignee reimburses the Company for any costs incurred by the Company in connection with such assignment and substitution.  Upon satisfaction of such requirements, an assignee shall be admitted as a
                substituted Member of the Company as of the effective date of such assignment; provided, that the assignee agrees to be bound by the terms of this Agreement by
                executing a copy of same and such other documents as the Company may reasonably request to effectuate the Transfer.

           

          (f)        The Company and the Board shall be entitled to treat the record Member of any Company Interest as the absolute owner thereof in all respects and shall incur no

           

            

          
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           liability for distributions of cash or other property made in good faith to such Member until such time as a written assignment
              of such Company Interest that complies with the terms of this Agreement has been received by the Board.

           

          Section 10.2        Class A Members Voluntary Exchange Rights.

           

          (a)         Class A Members Voluntary Exchange.  At any time following the Effective Date, each Class A Member shall have the right to require CORR to exchange all or a
                portion of such Class A Member’s Units in the Company.  If any Class A Member exercises this right of exchange, such Class A Member’s Units shall be exchanged as follows:

           

          (i)          each Class A-1 Unit will be exchanged for a share of CORR Series C Preferred Stock, unless CORR has previously elected to effectuate the CORR Series C Exchange, in which case each Class A-1 Unit will be exchanged for a number of
                shares of CORR Series A Preferred Stock pursuant to the exchange provisions set forth in the Articles Supplementary for such Series C Preferred Stock;

           

          (ii)         each Class A-2 Unit will be exchanged for a share of CORR Series B Preferred Stock; and

           

          (iii)       each Class A‐3 Unit will be exchanged for a share of CORR Class B Common Stock, unless the CORR Class B Common Stock Conversion has occurred, in which case each Class A‐3 Unit will be exchanged for a number of shares of CORR Common
                Stock as would have been received pursuant to the conversion provision set forth in the Articles Supplementary for such Class B Common Stock.

           

          In order to process such exchange, such Class A Member shall submit such written representations, investment letters, legal opinions or other
            instruments necessary, in CORR’s reasonable discretion, to effect compliance with the Securities Act and relevant state securities or “blue sky” laws.  The CORR Securities shall be delivered by CORR as duly authorized, validly issued, fully
            paid and non-assessable shares of CORR Securities, free of any pledge, lien, encumbrance or restriction, other than any ownership limits set forth in the charter of CORR, the Securities Act and relevant state securities or “blue sky” laws. 
            Neither any Class A Member nor any other interested Person shall have any right to require or cause CORR to register, qualify or list any CORR Securities owned or held by such Person, whether or not such CORR Securities are issued pursuant to
            this Section 10.2, with the SEC, with any state securities commissioner, department or agency, under the Securities Act or the Exchange Act or with any stock exchange, except as
            otherwise provided in a separate agreement. CORR Securities issued pursuant to this Section 10.2 may contain such legends regarding restrictions under the Securities Act and
            applicable state securities laws as CORR determines to be necessary or advisable in order to ensure compliance with such laws.  Upon the closing of the exchange of CORR Securities pursuant to this Section
                10.2, the Company shall distribute an amount equal to the excess of (x) the Class A-1 Members’ Preferred Return Per Class A-1 Unit with respect to Class A-1 Units being exchanged over the aggregate amount previously distributed
            with respect to such Class A‐1 Units pursuant to Section 4.3(b)(i) through the date of exchange, (y) the Class A-2

           

          

          
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           Members’ Preferred Return Per Class A-2 Unit with respect to Class A-2 Units being exchanged over the aggregate amount previously distributed with respect to such
            Class A-2 Units pursuant to Section 4.3(b)(ii) through the date of exchange, and (z) the Class A-3 Members’ Preferred Return Per Class A-3 Unit with respect to Class A-3 Units being
            exchanged over the aggregate amount previously distributed with respect to such Class A-3 Units pursuant to Section 4.3(b)(iii) through the date of exchange.  No exchange will be
            permitted that would result in loss of REIT status by CORR.

           

          (b)        Procedures.  If any Class A Member wishes to exercise the right of exchange pursuant to this Section 10.2,
                such Class A Member shall deliver to CORR (the “Class A Member Exchange Notice”) specifying the number of Units required to be exchanged.

           

          (c)        Closing.  The closing of any exchange of Units for CORR Securities pursuant to this Section 10.2
                shall take place no later than sixty (60) days following delivery of the Class A Member Exchange Notice.  CORR shall give such Class A Member at least ten (10) days’ written notice of the date of closing.  At the closing of any such
                exchange, Class A Member shall execute any and all documents of assignment with respect to such Units, and CORR will deliver certificates representing the CORR Securities to be issued.

           

          (d)        Representations.  Each applicable Class A Member shall, at the closing of any exchange consummated pursuant to this Section 10.2, and as a condition precedent of such closing, represent and warrant to CORR that: (i) such Class A Member has full right, title and interest in and to the Units; (ii) such Class A Member has all the
                necessary power and authority and has taken all necessary action to exchange such Units as contemplated by this Section 10.2 and (iii)  the Units are free and clear of any and all
                liens, other than those arising as a result of or under the terms of this Agreement or otherwise imposed by the Company.  In the event such Class A Member is unable to provide such representation and warranty, or the Company reasonably
                believes such representation and warranty to be untrue, the Company shall not be obligated to complete the closing of such exchange.

           

          Section 10.3        Management Member Termination Exchange Rights

           

          (a)        Member Termination.  Following the termination of a Management Member’s employment or other engagement with the Company or any of the Company’s Affiliates,
                CORR may, at its election, require such Management Member (including, for purposes of this Section, any or all of such Management Member’s transferees) to exchange all (but not less than all) of such Management Member’s Units in the
                Company.  If CORR exercises this right of exchange, such Management Member’s Units shall be exchanged as follows:

           

          (i)          each Class A-1 Unit will be exchanged for a share of CORR Series C Preferred Stock, unless CORR has previously elected to effectuate the CORR Series C Exchange, in which case each Class A-1 Unit will be exchanged for a number of
                shares of CORR Series A Preferred Stock pursuant to the exchange

           

              

          
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           provisions set forth in the Articles Supplementary for such Series C Preferred Stock;

           

          (ii)          each Class A-2 Unit will be exchanged for a share of CORR Series B Preferred Stock; and

           

          (iii)       each Class A‐3 Unit will be exchanged for a share of CORR Class B Common Stock, unless the CORR Class B Common Stock Conversion has occurred, in which case each Class A‐3 Unit will be exchanged for a number of shares of CORR Common
                Stock as would have been received pursuant to the conversion provision set forth in the Articles Supplementary for such Class B Common Stock.

           

          In order to process such exchange, such Management Member shall submit such written representations, investment letters, legal opinions or other
            instruments necessary, in CORR’s reasonable discretion, to effect compliance with the Securities Act and relevant state securities or “blue sky” laws.  The CORR Securities shall be delivered by CORR as duly authorized, validly issued, fully
            paid and non-assessable shares of CORR Securities, free of any pledge, lien, encumbrance or restriction, other than any ownership limits set forth in the charter of CORR, the Securities Act and relevant state securities or “blue sky” laws. 
            Neither any Class A Member nor any other interested Person shall have any right to require or cause CORR to register, qualify or list any CORR Securities owned or held by such Person, whether or not such CORR Securities are issued pursuant to
            this Section 10.3, with the SEC, with any state securities commissioner, department or agency, under the Securities Act or the Exchange Act or with any stock exchange, except as
            otherwise provided in a separate agreement.  CORR Securities issued pursuant to this Section 10.3 may contain such legends regarding restrictions under the Securities Act and
            applicable state securities laws as CORR determines to be necessary or advisable in order to ensure compliance with such laws.  Upon the closing of the exchange of CORR Securities pursuant to this Section
                10.2, the Company shall distribute an amount equal to the excess of (x) the Class A-1 Members’ Preferred Return Per Class A-1 Unit with respect to Class A-1 Units being exchanged over the aggregate amount previously distributed
            with respect to such Class A-1 Units pursuant to Section 4.3(b)(i) through the date of exchange, (y) the Class A-2 Members’ Preferred Return Per Class A-2 Unit with respect to Class
            A-2 Units being exchanged over the aggregate amount previously distributed with respect to such Class A-2 Units pursuant to Section 4.3(b)(ii) through the date of exchange, and (z)
            the Class A-3 Members’ Preferred Return Per Class A-3 Unit with respect to Class A-3 Units being exchanged over the aggregate amount previously distributed with respect to such Class A-3 Units pursuant to Section 4.3(b)(iii) through the date of exchange.

           

          (b)        Procedures.  If CORR wishes to exercise the right of exchange pursuant to this Section 10.3, CORR
                shall deliver to such terminated Management Member, within one hundred twenty (120) days after the termination of such Management Member’s employment or other engagement (the “Exchange Notice”) specifying the number of Units required to be exchanged and the number and class or series of shares of CORR Securities to be exchanged for each such Unit. If CORR fails to deliver an Exchange
                Notice within such time, its right to exchange the Units pursuant to this Section 10.3 shall automatically be extinguished.

           

          
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          (c)        Closing.  The closing of any exchange of Units for CORR Securities pursuant to this Section 10.3
                shall take place no later than sixty (60) days following delivery of the Exchange Notice. CORR shall give such Management Member at least ten (10) days’ written notice of the date of closing. At the closing of any such exchange, the
                Management Member shall execute any and all documents of assignment with respect to such Units, and CORR will deliver certificates representing the CORR Securities to be issued.

           

          (d)         Representations.  Each applicable Management Member shall, at the closing of any exchange consummated pursuant to this Section 10.3, and as a condition precedent of such closing, represent and warrant to CORR that: (i) such Management Member has full right, title and interest in and to the Units; (ii) such Management Member has all
                the necessary power and authority and has taken all necessary action to exchange such Units as contemplated by this Section 10.3 and (iii)  the Units are free and clear of any and
                all liens, other than those arising as a result of or under the terms of this Agreement or otherwise imposed by the Company.  In the event such Management Member is unable to provide such representation and warranty, or the Company
                reasonably believes such representation and warranty to be untrue, the Company shall not be obligated to complete the closing of such exchange.

           

          ARTICLE XI. REPRESENTATIONS AND WARRANTIES

           

          Each Member acknowledges and agrees that its Company Interest is being acquired for such Member’s own account as part of a private offering,
            exempt from registration under the Securities Act and all applicable state securities or blue sky laws, for investment only and not with a view to the distribution nor other sale thereof; and that an exemption from registration under the
            Securities Act and under applicable state securities laws may not be available if the Company Interest is acquired by such Member with a view to resale or distribution thereof under any conditions or circumstances as would constitute a
            distribution of such Company Interest within the meaning and purview of the Securities Act or applicable state securities laws.  Accordingly, except as specifically contemplated by the Purchase Agreement, each Member represents and warrants to
            the Company and all other interested parties that:

           

          (a)        Such Member has sufficient financial resources to continue such Member’s investment in the Company for an indefinite period.

           

          (b)         Such Member has adequate means of providing for its current needs and contingencies and can afford a complete loss of its investment in the Company.

           

          (c)        It is such Member’s intention to acquire and hold its Company Interest solely for its private investment and for its own account and with no view or intention to Transfer such Company Interest (or any portion thereof).

           

          (d)         Such Member has no contract, undertaking, agreement, or arrangement with any Person to sell or otherwise Transfer to any Person, or to have any Person sell on behalf of such Member, its Company Interest (or any portion thereof), and
              such Member is not engaged in and does not plan to engage within the foreseeable future in any discussion with

           

            

          
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           any Person relative to the sale or any Transfer of its Company Interest (or any portion thereof).

           

          (e)         Such Member is not aware of any occurrence, event, or circumstance upon the happening of which such Member intends to attempt to Transfer its Company Interest (or any portion thereof), and such Member does not have any present
              intention of Transferring its Company Interest (or any portion thereof) after the lapse of any particular period of time.

           

          (f)          Such Member, by making other investments of a similar nature and/or by reason of his/its business and financial experience or the business and financial experience of those Persons it has retained to advise such Member with respect
              to its investment in the Company, is a sophisticated investor who has the capacity to protect its own interest in investments of this nature and is capable of evaluating the merits and risks of this investment.

           

          (g)        Such Member has had all documents, records, books and due diligence materials pertaining to this investment made available to such Member and such Member’s accountants and advisors; and such Member has also had an opportunity to ask
              questions of and receive answers from the Company concerning this investment; and such Member has all of the information deemed by such Member to be necessary or appropriate to evaluate the investment and the risks and merits thereof.

           

          (h)         Such Member has a close business association with the Company or certain of its Affiliates, thereby making the Member a well-informed investor for purposes of this investment.

           

          (i)        Such Member confirms that such Member has been advised to consult with such Member’s own attorney regarding legal matters concerning the Company and to consult with independent tax advisors regarding the tax consequences of investing
              in the Company.

           

          (j)          Such Member is aware of the following:

           

          (i)          An investment in the Company is speculative and involves a high degree of risk of loss by the Member of its entire investment, with no assurance of any income from such investment;

           

          (ii)       No federal or state agency has made any finding or determination as to the fairness of the investment, or any recommendation or endorsement, of such investment;

           

          (iii)        There are substantial restrictions on the Transferability of the Company Interest of such Member, there will be no public market for such Company Interest and, accordingly, it may not be possible for such Member readily to liquidate
              its investment in the Company in case of Emergency; and

           

          
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          (iv)        Any federal or state income tax benefits which may be available to such Member may be lost through changes to existing laws and regulations or in the interpretation of existing laws and regulations; such Member in making this
              investment is relying, if at all, solely upon the advice of its own tax advisors with respect to the tax aspects of an investment in the Company.

           

          (k)         Such Member is an accredited investor (as defined in Regulation D promulgated under the Securities Act) and such Member is fully aware that, in agreeing to admit him, her or it as a Member, the Board and the Company are relying upon
              the truth and accuracy of the foregoing representations and warranties.

           

          Such Member further covenants and agrees that (A) its Company Interest will not be resold unless the provisions set forth in Article X above are complied with, and (B) such Member shall have no right to require registration of its
            Company Interest under the Securities Act or applicable state securities laws, and, in view of the nature of the Company and its business, such registration is neither contemplated nor likely.

           

          ARTICLE XII. MISCELLANEOUS

           

          Section 12.1        Notices.  All notices, elections, demands or other communications required or
            permitted to be made or given pursuant to this Agreement shall be in writing and shall be considered as properly given or made on the date of actual delivery if given by (a) personal delivery, (b) United States mail, (c) fax or email (with a
            hard copy sent to the recipient by expedited overnight delivery service with proof of delivery (charges prepaid) within two (2) Business Days) or (d) expedited overnight delivery service with proof of delivery (charges prepaid), addressed to
            the following respective addresses:

           

          If to some or all of the Grier Members, to:

           

          1801 California Street, Suite 3600

          Denver, CO 80202

          Attention: John D. Grier

          Email: jgrier@crimsonml.com

           

          and to:

           

          Lewis, Ringelman & Fanyo P.C.

          1515 Wynkoop Street, Suite 700

          Denver, Colorado

          Attention: David J. Ringelman

          Email: dringelman@lewisringelman.com

           

          If to CORR, to:

           

          CorEnergy Infrastructure Trust, Inc.

          1100 Walnut, Suite 3350

          Kansas City, MO 64106

          Email: dschulte@corenergy.reit

          

          

          
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          and to:

           

          Husch Blackwell LLP

          4801 Main Street, Suite 1000

          Kansas City, MO 64112-2551

          Attention:  Steve Carman

          Email:  Steve.Carman@huschblackwell.com

           

          Any Member may change its address by giving notice in writing to the other Members of its new address.

           

          Section 12.2        Amendment.

           

          (a)         Amendments to be Adopted by the Company.  Each Member agrees that an appropriate Manager or officer of the Company, in accordance with and subject to the limitations
              contained in Article V, may execute, swear to, acknowledge, deliver, file and record whatever
              documents may be required to reflect:

           

          (i)        a change in the name of the Company in accordance with this Agreement, the location of the principal place of business of the Company or the registered agent or office of the Company that has been
              approved by the Board;

           

          (ii)       admission or substitution of Members whose admission or substitution has been made in accordance with this Agreement;

           

          (iii)       

            a change that the Board believes is reasonable and necessary or appropriate to qualify or continue the qualification of the Company as a limited liability company under the laws of any state or that
              is necessary or advisable in the opinion of the Board to ensure that the Company will not be taxable as a corporation or otherwise taxed as an entity for federal income tax purposes; and

           

          (iv)       an amendment that is necessary, in the opinion of counsel, to prevent the Company or its officers from in any manner being subjected to the provisions of the Investment Company Act of 1940, as amended,
              or “plan asset” regulations adopted under the Employee Retirement Income Security Act of 1974, as amended, whether or not substantially similar to plan asset
              regulations currently applied or proposed by the United States Department of Labor.

           

          (b)        Amendment Procedures.  Except as set forth in Section 12.2(a) and Section 12.2(d), this Agreement may be amended, or compliance with any provision hereof may be waived, at any time and from time to time by the Board.

           

          (c)       Issuance of New Units.  For the avoidance of doubt, it is agreed that any such amendment, modification, supplement, restatement or waiver in connection with the
              authorization or issuance by the Company pursuant to Section 3.3, Section 3.4 or Section 3.5 of additional Company Interests having such rights, designations and preferences (including with respect to the Company’s distributions) ranking senior to, or pari passu with, the Class A-1 Units, Class A-2 Units, Class A-3 Units, Class B-1 Units or

           

            

          
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           any other series of Company Interests shall require the approval of the holders of the majority of the interest of the effected
              Units or other Company Interests.

           

          (d)       Amendments Requiring Approval of Specific Member(s).  No amendment of this Agreement shall be effected that (i) obligates a Member to contribute capital to the Company, (ii)
              amends or revises the right or obligations with respect to the payment or return of distributions to or from a Member, including, without limitation, Section 4.3(b), (iii) changes the status with respect to the limited liability of a Member,
              (iv) amends or revises the exchange rights set forth in Section 9.2,  Section 10.2, and Section 10.3 above in each case without the written consent of such Member.

           

          Section 12.3        Second Closing.

           

          (a)         Contribution of Other CORR Assets.  CORR covenants and agrees to transfer to the Company, within 30 days of the date of this Agreement, all of its operating assets,
                including, without limitation, all equity interests CORR holds directly or indirectly in any of its subsidiaries or other Affiliates (other than CORR’s equity interests in the Company or equity interests CORR holds indirectly in any of the
                Company’s Subsidiaries) (the “CORR Transfer”).

           

          Section 12.4       Partition.  Each of the Members hereby irrevocably waives for the term of the Company
            any right that such Member may have to maintain any action for partition with respect to the Company property.

           

          Section 12.5      Entire Agreement.  This Agreement constitutes the full and complete agreement of the
            parties hereto with respect to the subject matter hereof.

           

          Section 12.6       Severability.  Every provision in this Agreement is intended to be severable.  If any
            term or provision hereof is illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the validity of the remainder of this Agreement.

           

          Section 12.7      No Waiver.  The failure of any Member to insist upon strict performance of a covenant
            hereunder or of any obligation hereunder, irrespective of the length of time for which such failure continues, shall not constitute a waiver of such Member’s right to demand strict compliance in the future.  No consent or waiver, express or
            implied, to or of any breach or default in the performance of any obligation hereunder shall constitute a consent or waiver to or of any other breach or default in the performance of the same or any other obligation hereunder.

           

          Section 12.8     Applicable Law.  This Agreement and the rights and obligations of the parties hereunder
            shall be governed by and interpreted, construed and enforced in accordance with the internal laws of the State of Delaware, without regard to rules or principles of conflicts of law requiring the application of the law of another State.

           

          Section 12.9      Successors and Assigns.  This Agreement
              shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and assigns; provided, however, that no Member may Transfer all or any part of its rights or
              Company Interest or any interest under this Agreement except in accordance with Article X.

           

              

          
            56

            
              

          

          Section 12.10     Arbitration.  Any dispute arising out of
              or relating to this Agreement or the Company, including claims sounding in contract, tort, statutory or otherwise (a “Dispute”), shall be settled exclusively and finally by arbitration in accordance with this Section 12.10.

           

          (a)        Rules and Procedures. Such arbitration shall be administered by JAMS, a national dispute resolution company (“JAMS”), pursuant to (i) the JAMS Streamlined Arbitration Rules and Procedures, if the amount in controversy is $500,000 or less, or (ii) the JAMS Comprehensive
              Arbitration Rules and Procedures, if the amount in controversy exceeds $500,000 (each, as applicable, the “Rules”).  The making, validity, construction, and
              interpretation of this Section 12.10, and all procedural aspects of the arbitration conducted
              pursuant hereto, shall be decided by the arbitrator(s).  For purposes of this Section 12.10, “amount in controversy” means the stated amount of the claim, not including interest or attorneys’ fees, plus the stated amount of any counterclaim, not including
              interest or attorneys’ fees.  If the claim or counterclaim seeks a form of relief other than damages, such as injunctive or declaratory relief, it shall be treated as if the amount in controversy exceeds $250,000, unless all parties to the
              Dispute otherwise agree.

           

          (b)          Discovery.  Discovery shall be allowed only to the extent permitted by the Rules.

           

          (c)         Time and Place.  All arbitration proceedings hereunder shall be conducted in Denver, Colorado or such other location as all parties to the Dispute may agree.  Unless good
              cause is shown or all parties to the Dispute otherwise agree, the hearing on the merits shall be conducted within one hundred and eighty (180) days of the initiation of the arbitration, if the arbitration is being conducted under the JAMS
              Streamlined Arbitration Rules and Procedures, or within two hundred and seventy (270) days of the initiation of the arbitration, if the arbitration is being conducted under the JAMS Comprehensive Arbitration Rules.  However, it shall not be a
              basis to challenge the outcome or result of the arbitration proceeding that it was not conducted within the specified timeframe, nor shall the failure to conduct the hearing within the specified timeframe in any way waive the right to
              arbitration as provided for herein.

           

          (d)          Arbitrators.

           

          (i)          If the amount in controversy is $500,000 or less, the arbitration shall be before a single arbitrator selected by JAMS in accordance with the Rules.

           

          (ii)       If the amount in controversy is more than $500,000, the arbitration shall be before a panel of three arbitrators, selected in accordance with this paragraph.  The party initiating the arbitration shall designate, with its initial
              filing, its choice of arbitrator.  Within thirty (30) days of the notice of initiation of the arbitration procedure, the opposing party to the Dispute shall select one arbitrator.  If any party to the Dispute shall fail to select an
              arbitrator within the required time, JAMS shall appoint an arbitrator for that party.  In the event that the Dispute involves three or more parties, JAMS shall determine the parties’ alignment pursuant to Rule 15 and each “side” shall have the right to appoint one arbitrator as provided above.  The two arbitrators so selected shall select a third arbitrator, failing

           

            

          
            57

            
              

          

           agreement on which, the third arbitrator shall be selected in accordance with JAMS Rule 15.  Notwithstanding that each party may
              select an arbitrator, all arbitrators (whether selected by the parties, JAMS or otherwise) shall be independent and shall disclose any relationship that he or she may have with any party to the Dispute at the time of their respective
              appointment.  All arbitrators shall be subject to challenge for cause under JAMS Rule 15.  In the event that any party-selected arbitrator is struck for cause, JAMS shall appoint the replacement arbitrator.

           

          (e)        Waiver of Certain Damages.  Notwithstanding any other provision in this Agreement to the contrary, the Company and the Members expressly agree that the arbitrators shall
              have absolutely no authority to award consequential, incidental, special, treble, exemplary or punitive damages of any type under any circumstances regardless of whether such damages may be available under Delaware law, or any other laws, or
              under the Federal Arbitration Act or the Rules, unless such damages are a part of a third party claim for which a Member is entitled to indemnification hereunder.

           

          (f)       Limitations on Arbitrators.  The arbitrators shall have authority to interpret and apply the terms and conditions of this Agreement and to order any remedy allowed by this
              Agreement, including specific performance of the Agreement, but may not change any term or condition of this Agreement, deprive any Member of a remedy expressly provided hereunder, or provide any right or remedy that has been excluded
              hereunder.

           

          (g)        Form of Award.  The arbitration award shall conform with the Rules, but also contain a certification by the arbitrators that, except as permitted by Section 12.10(e), the award does not include any consequential, incidental, special, treble, exemplary
              or punitive damages.

           

          (h)       Fees and Awards.  The fees and expenses of the arbitrator(s) shall be borne equally by each side to the Dispute, but the decision of the arbitrators(s) may include such
              award of the arbitrators’ expenses and of other costs to the prevailing side as the arbitrator(s) may determine.  In addition, the prevailing party shall be entitled to an award of its attorneys’ fees and interest.

           

          (i)          Binding Nature.  The decision and award shall be binding upon all of the parties to the Dispute and final and nonappealable to the maximum extent permitted by law, and
              judgment thereon may be entered in a court of competent jurisdiction and enforced by any party to the Dispute as a final judgment of such court.

           

          (j)          Applicability.  Notwithstanding any provision to the contrary contained in this Agreement, this Section 12.10
                shall not apply to any dispute arising under or related to the CORR Purchase Agreement.

           

          Section 12.11       Legal Representation.

           

          (a)          Each
                  Member hereby acknowledges and agrees that:

           

          (i)          Husch
                Blackwell LLP represents CORR in the preparation of this Agreement and expressly does not represent any other party hereto in connection

           

              

          
            58

            
              

          

           with this Agreement, and the other parties hereby expressly waive any conflict of interest that may arise from such
                representation; and

           

          (ii)          A conflict
                may exist between such Member’s interest and those of the Company and the other Members;

           

          (iii)        Such Member
                has had the opportunity to seek the advice of independent legal counsel to review the legal, tax and economic terms of this Agreement on his, her or its behalf prior to executing this Agreement; and

           

          (iv)         This
                Agreement has tax consequences and such tax consequences may be different for each party.

           

          (b)          Each Member
                hereby acknowledges and agrees that:

           

          (i)          Lewis,
                Ringelman & Fanyo P.C. represents the Grier Members in the preparation of this Agreement and expressly does not represent any other party hereto in connection with this Agreement, and the other parties hereby expressly waive any
                conflict of interest that may arise from such representation; and

           

          (ii)          A conflict
                may exist between such Member’s interest and those of the Company and the other Members;

           

          (iii)        Such Member
                has had the opportunity to seek the advice of independent legal counsel to review the legal, tax and economic terms of this Agreement on his, her or its behalf prior to executing this Agreement; and

           

          (iv)         This
                Agreement has tax consequences and such tax consequences may be different for each party.

           

          Section 12.12     Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be an original and all of which shall constitute but one and the same
            document.

           

          [Signature Pages of the Company, Members and Managers Attached]

           

          
            59

            
              

          

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

           

          	
                  COMPANY:

                	 
	
                  Crimson Midstream Holdings, LLC,

                	 
	
                  a Delaware limited liability company

                	 
	 	 
	
                  By:

                    

                	 	 
	
                  Name: John D. Grier

                	 
	
                  Title: Manager

                	 
	 	 
	
                  By:

                    

                	 	 
	
                  Name: David J. Schulte

                	 
	
                  Title: Manager

                	 
	 	 
	
                  By:

                    

                	 	 
	
                  Name: Todd Banks

                	 
	
                  Title: Manager

                	 
	 	 
	
                  By:

                    

                	 	 
	
                  Name: Sean DeGon

                	 
	
                  Title: Manager

                	 

          

          

          
            [Signature Pages Continued on Next Page]

          

           

          

          
            [Signature Page to Fourth Amended and Restated Limited Liability Company
                Agreement of Crimson Midstream Holdings, LLC]

          

           

          

          
            
              

          

          	
                  MEMBERS:

                	

                	
                   

                
	 	 	 
	
                  By:

                    

                	 	 	
                  By:

                    

                	 
	
                  Name: John D. Grier

                	 	
                  Name: M. Bridget Grier

                
	
                  Title:  Individually and as Trustee of the Bridget Grier Spousal Support Trust dated December 18, 2012

                	 	
                  Title: Individually

                
	

                	

                	
                  CorEnergy Infrastructure Trust, Inc.,

                  a Maryland corporation

                
	 	 	
                  By:

                    

                	 
	 	 	

                	Name:
	 	 	

                	Title:

          

          

          	
                  MANAGEMENT MEMBERS:

                	 	 
	 	 	 
	 	 	 
	
                  John D. Grier

                	
                   

                	
                  Larry Alexander

                
	 	 	 
	 	 	 
	
                  Robert Waldron

                	

                	
                  Nestor Taura

                
	 	 	 
	 	 	 
	
                  Valerie Jackson

                	
                   

                	
                  Jerry Ashcroft

                
	 	 	 
	 	 	 
	
                  Chris Maudlin

                	

                	
                  David Allison

                

          

          

          
            [Signature Page to Fourth Amended and Restated Limited Liability Company
                Agreement of Crimson Midstream Holdings, LLC]

            

            

          

          
            
              

          

          Exhibit A

          to

          Fourth Amended and Restated Limited Liability Company Agreement

          of Crimson Midstream Holdings, LLC

           

          Members, Capital Contributions, Sharing Ratios

          (as of the Effective Date)

           

          	
                  Member

                	
                  Capital

                  Accounts

                	
                  Class A-1 Units

                	
                  Class A-2 Units

                	
                  Class A-3 Units

                	
                  Class B-1

                  Units

                	
                  Class B-2

                  Units

                	
                  Class A-1 Sharing Ratio

                	
                  Class A-2 Sharing Ratio

                	
                  Class A-3 Sharing Ratio

                	
                  Class B-1 Sharing Ratio

                	
                  Class B-2 Sharing Ratio

                	
                   

                  Class C-1 Units

                	
                  Sharing Ratio

                
	
                  John D. Grier

                	 	 	 	 	
                  ~

                	 	 	 	 	
                  ~

                	 	 	 
	
                  M. Bridget Grier

                	 	 	 	 	
                  ~

                	 	 	 	 	
                  ~

                	 	 	 
	
                  The Bridget Brier Spousal Support Trust dated December 18, 2012

                	 	 	 	 	
                  ~

                	 	 	 	 	
                  ~

                	 	 	 
	
                  The Hugh David Grier Trust dated October 15, 2012

                	 	 	 	 	
                  ~

                	 	 	 	 	
                  ~

                	 	 	 
	
                  The Samuel Joseph Grier Trust dated October 15, 2012

                	 	 	 	 	
                  ~

                	 	 	 	 	
                  ~

                	 	 	 
	
                  Larry Alexander

                	 	 	 	 	
                  ~

                   

                	 	 	 	 	
                  ~

                   

                	 	
                  ~

                	 
	
                  Robert Waldron

                	 	 	 	 	
                  ~

                   

                   

                	 	 	 	 	
                  ~

                   

                	 	
                  ~

                	 

          

          

          
            
              Exhibit A to

               Fourth Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

            

          

          

          

          
            
              

          

           

          	
                  Member

                	
                  Capital

                  Accounts

                	
                  Class A-1 Units

                	
                  Class A-2 Units

                	
                  Class A-3 Units

                	
                  Class B-1

                  Units

                	
                  Class B-2

                  Units

                	
                  Class

                   A-1

                   Sharing

                   Ratio

                	
                  Class

                   A-2

                   Sharing

                   Ratio

                	Class A-3 Sharing Ratio	
                  Class

                   B-1 Sharing Ratio

                	
                  Class

                   B-2 Sharing Ratio

                	Class C-1 Units	Sharing

                    Ratio
	
                  Nestor Taura

                	 	 	 	 	
                  ~

                   

                	 	 	 	 	
                  ~

                   

                	 	
                  ~

                	 
	
                  Valerie Jackson

                	 	 	 	 	
                  ~

                   

                	 	 	 	 	
                  ~

                   

                	 	
                  ~

                	 
	
                  Jerry Ashcroft

                	 	 	 	 	
                  ~

                   

                	 	 	 	 	
                  ~

                   

                	 	
                  ~

                	 
	
                  Chris Maudlin

                	 	 	 	 	
                  ~

                   

                	 	 	 	 	
                  ~

                   

                	 	
                  ~

                	 
	
                  David Allison

                	 	 	 	 	
                  ~

                   

                	 	 	 	 	
                  ~

                   

                	 	
                  ~

                	 
	
                  CorEnergy Infrastructure Trust, Inc.

                	 	
                  ~

                	
                  ~

                	
                  ~

                	 	

                	
                  ~

                	
                  ~

                	
                  ~

                	
                  100.00%

                	 	
                   

                   

                  49.5

                	
                  100.00%

                
	
                  TOTAL:

                	 	 	 	 	 	 	
                  100.00%

                	
                  100.00%

                	
                  100.00%

                	
                  100.00%

                	 	 	
                  100.00%

                

          

          

          
            Exhibit A to

             Fourth Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

          

          

          

          
            
              

          

          Exhibit B

          to

          Fourth Amended and Restated Limited Liability Company Agreement

          of Crimson Midstream Holdings, LLC

           

          Grier Companies

           

          Crimson Renewable Energy, L.P.

          Delta Trading, L.P.

          Millux Holdings LLC

          Pike Capital, LLC

          Pikes Capital, LLC

          Crimson Environmental, LLC

          C Gulf Holdings, LLC and its Subsidiary

          

          

          
            Exhibit B to

              Fourth Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

          

          

          

           
           

         

        

        
          
            

        

        Exhibit D

        to

         

        

         Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

         

        Form of CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of Series B Redeemable Convertible Preferred Stock

        

        

        [to be attached]

         

        

        
          Exhibit D to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

        

         

        

        
          
            

        

        Exhibit E

        to

         

        Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

         

        Form of CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of 9.00% Series C Exchangeable Preferred Stock

        

        

        [to be attached]

         

        
          Exhibit E to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

        

         

        

        
          
            

        

        Exhibit F

        to

         

        Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

         

        Form of CorEnergy Infrastructure Trust, Inc. Articles Supplementary Establishing and Fixing the Rights and Preferences of the Class B Common Stock.

        

        

        [to be attached]

         

        
          Exhibit F to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

        

         

        

        
          
            

        

        Exhibit G

        to

         

        Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLC

         

         Resolutions to be Approved by Managers

        

        

        [to be attached]

         

      

    

    
      Exhibit G to Third Amended and Restated Limited Liability Company Agreement of Crimson Midstream Holdings, LLCExhibit 10.18

     

       

    
      REGISTRATION RIGHTS AGREEMENT

       

      WHEREAS, the parties listed on Schedule A hereto (each, individually, a “Holder” and,
        collectively, the “Holders”) have been issued (a) shares of the following classes of securities of CorEnergy Infrastructure Trust, Inc., a Maryland corporation (“CorEnergy”), which are registered with the Securities and Exchange Commission (“SEC”) pursuant to the Securities Exchange Act of 1934, as amended, and
        the regulations promulgated thereunder (the “1934 Act”): (i) CorEnergy’s Common Stock, par value $0.001 per share (“CorEnergy Common Stock”),
        and (ii) depositary shares, each representing 1/100th of a whole share of CorEnergy’s 7.375% Series A Cumulative Redeemable Preferred Stock, par value $0.001 per share (“CorEnergy Series A Preferred
            Stock”), and (b) shares of CorEnergy’s Common Stock, par value $0.001 per share, designated as Class B Common Stock (“Class B Common Stock”).  The Class B Common Stock will
        be convertible into shares of the following classes of CorEnergy securities: (x) CorEnergy Common Stock, and (y) any class of securities of CorEnergy registered under the 1934 Act that may subsequently be issued by CorEnergy in exchange for, or as
        a replacement of, all then‐outstanding shares of CorEnergy Common Stock (such class of securities, together with CorEnergy Common Stock and CorEnergy Series A Preferred Stock, collectively, the “CorEnergy
            Public Shares”).

       

      WHEREAS, in connection with the issuance of the CorEnergy Common Stock, CorEnergy Series A Preferred Stock and the Class B Common Stock to the
        Holders, CorEnergy has set forth the following terms as set forth herein:

       

      

      ARTICLE I

      DEMAND REGISTRATION

       

      Section 1.1          Registration Statement.

       

      (a)         Requests for Registration. Subject to the terms, conditions and limitations of this Agreement, one or more of the Holders may request registration (any such requested registration, a “Demand Registration”) under the under the Securities Act of 1933, as amended, and the regulations promulgated thereunder (the “1933 Act”) of all or any
            portion of their Registrable Securities (as hereinafter defined).

       

      (b)          Registration.

       

      (i)          Promptly, and in
            any event (except as otherwise provided herein) within 20 business days, after one or more of the Holders delivers written notice (a “Registration Request”) to CorEnergy requesting a
            Demand Registration including a Shelf Registration of any of the Registrable Securities (as hereinafter defined) pursuant to Section 1.1(a) hereof, CorEnergy shall file a Registration Statement (as hereinafter defined) on the form selected by
            CorEnergy as most appropriate for the demand made with the SEC covering resales of all of the Registrable Securities, including Registrable Securities which have been or may be obtained upon conversion of the Class B Common Stock, or any other
            Registrable Securities pursuant to any method or combination of methods legally available to, and requested by, any Holder named therein to the extent in accordance with the terms

       

          

      
        1

        
          

      

       set forth herein, and CorEnergy shall use its reasonable efforts to cause the Registration Statement to become
            effective under the 1933 Act within three months after the initial filing thereof.

       

      (ii)        Notwithstanding
            anything to the contrary in the foregoing, if CorEnergy shall furnish to such Holder or Holders a certificate signed by the Chief Executive Officer or Chief Financial Officer of CorEnergy stating that, in the good faith judgment of the board of
            directors of CorEnergy, it would be significantly disadvantageous to CorEnergy and its stockholders for such Registration Statement to be filed on or before the date filing would be required in accordance with the foregoing, CorEnergy shall
            have an additional 30 days in which to file such Registration Statement (provided, however, that CorEnergy may not invoke this right to postpone such registration more than three times in any 12-month period).

       

      (iii)        The Registration
            Statement shall be available for the sale of Registrable Securities in accordance with the intended method or methods of distribution by the Selling Holders (as hereinafter defined) and shall comply as to form in all material respects with the
            requirements of the applicable form and include all financial statements required by the SEC to be filed therewith. The term “Selling Holders” shall mean and include any one or more
            Holders of Registrable Securities the public sale of which has been or is intended to be registered under the 1933 Act pursuant to a Registration Statement. CorEnergy agrees that it shall deliver to the Holder or Holders submitting a
            Registration Request hereunder, upon their request, for their review and comment a copy of the Registration Statement and any amendments and supplements thereto (other than post-effective amendments) prior to filing thereof with the SEC.

       

      (iv)        Notwithstanding
            anything in the foregoing to the contrary, CorEnergy shall not be obligated to file such Registration Statement (i) if CorEnergy has filed a Registration Statement with respect to any of the Registrable Securities, including Registrable
            Securities that have been or may be issued from time to time upon conversion of Class B Common Stock issued to any of the Holders, during the 12 month period preceding such Registration Request or (ii) if such Registration Request constitutes a
            request for the registration of less than 25% of the aggregate number of Registrable Securities issued or issuable to all of the Holders as a group.

       

      (c)       Once the Registration Statement
            (including, as applicable, a Registration Statement filed pursuant to Rule 415 (a “Shelf Registration”) under the 1933 Act) becomes effective, CorEnergy shall keep the Registration Statement continuously effective and available for resale of
            the Registrable Securities until the earliest to occur of (i) the sale of all of the Registrable Securities by the Holders submitting the Registration Request in accordance with the Registration Statement, (ii) the date on which, in the opinion
            of counsel for CorEnergy, all of such Registrable Securities become eligible for sale pursuant to Rule 144 (or any successor provision to such rule) under the 1933 Act, or (iii) in the opinion of counsel to CorEnergy, such Registrable
            Securities may be distributed without registration under the 1933 Act. Notwithstanding anything to the contrary in the foregoing, if CorEnergy determines that it is necessary to amend or supplement such Registration Statement and if CorEnergy
            shall furnish to the applicable Holders a certificate signed by the Chief Executive Officer or Chief Financial Officer of CorEnergy stating

       

          

      
        2

        
          

      

       that, in the good faith judgment of the board of directors of CorEnergy, it would be significantly disadvantageous to CorEnergy and its
            stockholders for any such Registration Statement to be amended or supplemented, CorEnergy may defer such amending or supplementing of such Registration Statement for not more than 60 days and, in such event, such Holders shall be required to
            discontinue disposition of any Registrable Securities covered by such Registration Statement during such period.

       

      (d)          The right of any Holder to give a
            Registration Request shall be subject to the following:

       

      (i)         Such Holder will
            certify in such Registration Request that it has a bona fide intention to sell all or a portion of the Registrable Securities, as specified in such Registration Request, within 12 months after the effective date of such Registration Statement;
            or

       

      (ii)         Compliance with
            Article III below.

       

      (e)          Underwritten Offerings.

       

      (i)        At any time and
            from time to time when any Holder or Holders representing 25% of the aggregate number of Registrable Securities then outstanding of the Holders as a group (collectively, a “Demanding Holder”)
            makes a Registration Request, such Demanding Holder may also request that all or any portion of its Registrable Securities be sold to a securities dealer who purchases any Registrable Securities as principal and not as part of such dealer’s
            market-making activities (an “Underwriter”) in a firm commitment underwriting for distribution to the public or other coordinated offering that is registered pursuant to the
            Registration Statement (each, an “Underwritten Offering”); provided that CorEnergy shall only be obligated to effect an Underwritten Offering if such offering shall include Registrable
            Securities proposed to be sold by the Demanding Holder, together with any Registrable Securities proposed to be sold by the Requesting Holders (as hereinafter defined), if any, collectively having a total offering price reasonably expected to
            exceed, in the aggregate, $20 million (the “Minimum Takedown Threshold”). All requests for Underwritten Offerings shall be made by giving written notice to CorEnergy, which shall
            specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Offering, and such request must be made at the time of the Registration Request. CorEnergy shall have the right to select the Underwriters for such
            offering (which shall consist of one or more reputable nationally recognized investment banks). Notwithstanding anything to the contrary in this Agreement, CorEnergy may effect any Underwritten Offering pursuant to any then effective
            Registration Statement, including a Form S-3 that is then available for such offering.

       

      (ii)        If the managing
            Underwriter or Underwriters in an Underwritten Offering, in good faith, advises CorEnergy, the Demanding Holders, other Holders, and any third party entitled to request piggy back rights pursuant to this Agreement or other registration rights
            agreement to which CorEnergy is a party (the “Requesting Holders”) (if any) in writing that the dollar amount or number of Registrable Securities that the Demanding Holders and the
            Requesting Holders (if any) desire to sell, exceeds the

       

          

      
        3

        
          

      

       maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering without
            adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then, the aggregate number of Registrable Securities that the Demanding Holders and Requesting Holders have requested to be included shall be reduced prorata (based on the
            number of securities each such person has requested be sold in such offering) so as not to exceed the Maximum Number of Securities. To facilitate the allocation of Registrable Securities in accordance with the above provisions, CorEnergy or the
            Underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. CorEnergy shall not be required to include any Registrable Securities in such Underwritten Offering unless the Holders accept the terms of the
            underwriting as agreed upon between CorEnergy and its Underwriters.

       

      (iii)        In the event
            there is an Underwritten Offering pursuant to this Section 1.2(e), the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder agreeing to sell its Registrable Securities on
            the basis provided in any customary and reasonable underwriting arrangements approved by the persons entitled to select the applicable underwriters and completing and executing all questionnaires, powers of attorney, indemnities, underwriting
            agreements and other customary and reasonable documents reasonably required under the terms of such underwriting arrangements.

       

      (f)          Holder Requirements. The right of any Holder to give a Registration Request shall be subject to the following:

       

      (i)         Such Holder will
            certify in such Registration Request that it has a bona fide intention to sell all or a portion of the Registrable Securities, as specified in such Registration Request, within 12 months after the effective date of such Registration Statement;
            or

       

      (ii)         Compliance with
            Article III below.

       

      (g)          Certain Definitions.

       

      (i)        The term “Registrable Securities” shall mean (i) any CorEnergy Public Shares, including any CorEnergy Public Shares that have been or may be issued from time to time upon the conversion of Class B
            Common Stock and (ii) any securities issued by CorEnergy as a dividend or distribution on account of Registrable Securities or resulting from a subdivision of outstanding Registrable Securities into a greater number of securities (by
            reclassification, stock split or otherwise).

       

      (ii)         The term “Registration Statement” shall mean any registration statement that covers Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus (as hereinafter
            defined) included in such registration statement, amendments (including post-effective amendments) and supplements to such registration

       

          

      
        4

        
          

      

       statement, and all exhibits to and all material incorporated by reference in such registration statement.

       

      Section 1.2           Restrictions on Sales by Holders; Limitations on Demand Notices.

       

      (a)        If, at any time when either (i) a
            Registration Request is pending or (ii) a Registration Statement filed pursuant to a prior Registration Request is in effect, and CorEnergy is issuing securities to the public in an underwritten offering (a “CorEnergy Offering”) and the managing underwriter for such underwriting requests that the Holders not effect any public sale or distribution of Registrable Securities or any securities convertible into or exchangeable
            or exercisable for such Registrable Securities, then the Holders shall not be permitted to effect any such public sale or distribution during the 15 calendar day period prior to, and during the 90 calendar day period subsequent to, the date (an
            “Execution Date”) specified in the Lock-Out Notice (as defined below) as the anticipated date of the execution and delivery of the underwriting agreement (or, if later, a pricing or
            terms agreement signed pursuant to such underwriting agreement) to be entered into in connection with the CorEnergy Offering. The Execution Date shall be no fewer than 14 calendar days subsequent to the date of delivery of written notice (a “Lock-Out Notice”) by CorEnergy to the applicable Holders of the anticipated execution of an underwriting agreement (or pricing or terms agreement), and the Execution Date shall be
            specified in the Lock-Out Notice, which Lock-Out Notice shall be kept confidential by any Holders receiving the same in the manner prescribed for information delivered to Holders pursuant to Section 2.1(k) hereof. CorEnergy may not deliver a
            Lock-Out Notice unless it is making a good faith effort to pursue and implement the CorEnergy Offering. CorEnergy may not establish Lock-Out periods (each, a “Lock-Out Period”) for an
            aggregate period for more than 120 days during any 12-month period. Any Lock-Out Period may be shortened at CorEnergy’s sole discretion by written notice to the applicable Holders, and the applicable Lock-Out Period shall be deemed to have
            ended on the date such notice is received by such Holders. A Lock-Out Period shall be deemed to not have occurred, and a Lock-Out Notice shall be deemed not to have been delivered, if prior to the Execution Date specified above, CorEnergy
            delivers a written notice to the applicable Holders stating that the CorEnergy Offering with respect to which such Lock-Out Notice had been delivered, has not been, or shall not be, consummated.

       

      (b)         In addition to any rights pursuant to
            Article III, the Holders shall have the right to “make” two (2) Registration Requests in total pursuant to Section 1.1.  A Registration Request shall not be counted as “made” for purposes of this Section 1.2(b): (i) if the Registration
            Statement does not become effective, (ii) CorEnergy delivers a Lock-Out Notice pursuant to 1.2(a) with respect to such Registration Request or accompanying registration that prevents sale of the Registrable Securities for at least 120 days,
            (iii) if the Holder(s) initiating the Registration Request withdraw such request withdraws its Demand Notice and, except for withdrawn Demand Notices pursuant to Section 1.1(b)(ii) or 1.2(a), elects to pay the registration expenses therefor,
            (iv) the transactions contemplated by the applicable underwriting agreement fail to close (other than as a result of any act or omission of the Holder(s)), or (v) in the case of an underwritten offering, if less than 75% of the Registrable
            Securities initially requested by the Holder(s) to be included are not so included pursuant to Section 1.1(e)(ii).

       

      ARTICLE II

      REGISTRATION PROCEDURES

       

      

      
        5

        
          

      

      Section 2.1          Registration Procedures. In connection with any registration of Registrable Securities, CorEnergy shall, at its expense, use its reasonable efforts to effect such registration to permit the sale of such
            Registrable Securities in accordance with the terms hereof, and pursuant thereto CorEnergy shall, as expeditiously as possible:

       

      (a)        prepare and file with (or submit
            confidentially to) the SEC as soon as practicable a Registration Statement with respect to such Registrable Securities and use its reasonable best efforts to cause such Registration Statement to become effective;

       

      (b)       prepare and file with the SEC such
            amendments and supplements to the Registration Statement and the prospectus constituting a part thereof, as amended or supplemented (the “Prospectus”), as may be necessary to keep the
            Registration Statement effective and to comply with the provisions of the 1933 Act with respect to resales of Registrable Securities in accordance with the intended method or methods of distribution by the Selling Holders (other than an
            underwritten offering) whenever the Selling Holders shall desire to sell or otherwise dispose of the same, or any portion thereof, but in no event beyond the period during which the Registration Statement is required to be kept in effect or the
            Registrable Securities have been sold, and otherwise subject to the limitations, under Section 1.1 above;

       

      (c)         furnish to the Selling Holders,
            without charge, such number of authorized copies of the Registration Statement, Prospectus, and any amendments or supplements thereto, in conformity with the requirements of the 1933 Act and the 1934 Act, each “free writing prospectus” and such
            other documents as the Selling Holders or Underwriters may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by the Selling Holders, and CorEnergy hereby consents to the use of
            the Registration Statement, Prospectus, and any amendments or supplements, each “free writing prospectus” and such other documents in connection with the offering and sale of the Registrable Securities;

       

      (d)        register or qualify the Registrable
            Securities under state securities or blue sky laws of such jurisdictions as are reasonably required to effect a sale thereof and do any and all other acts and things which may be necessary or appropriate under such state securities or blue sky
            laws to enable the Selling Holders to consummate the public sale or other disposition in such jurisdictions of the Registrable Securities to be sold or otherwise disposed of by the Selling Holders from time to time;

       

      (e)          before filing with the SEC any
            amendments or supplements to the Registration Statement or the Prospectus, furnish copies of all such documents proposed to be filed to the applicable Selling Holders included in such Registration Statement, who shall have five business days to
            review and comment thereon; provided, however, that the information concerning the Holders in such documents (including, without limitation, the proposed method of distribution by such Holders of their Registrable Securities) shall be subject
            to the approval of such Holders;

       

      (f)        notify the applicable Selling Holders
            included in such Registration Statement promptly (and, if requested by the Selling Holders, confirm in writing) (i) when the Registration Statement has become effective and when any post-effective amendments and supplements thereto become
            effective, (ii) of any request by the SEC or any state securities authority for amendments or supplements to the Registration Statement and the Prospectus or for

       

          

      
        6

        
          

      

       additional information, (iii) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness
            of the Registration Statement or the initiation of any proceedings for that purpose, (iv) of the receipt by CorEnergy of any notification with respect to the suspension of the qualification of the Registrable Securities or the initiation of any
            proceeding for such purpose, and (v) of the happening of any event during the period the Registration Statement is effective which results in the Registration Statement, the Prospectus or any document incorporated therein by reference
            containing an untrue statement of material fact or omitting to state a material fact required to be stated therein or necessary to make the statements therein not misleading;

       

      (g)          obtain the withdrawal of any order
            suspending the effectiveness of the Registration Statement at the earliest practicable time;

       

      (h)          cooperate with the Selling Holders to
            facilitate the timely preparation and delivery of certificates evidencing any certificated Registrable Securities being sold, which certificates shall not bear any restrictive legends provided the Registrable Securities evidenced thereby have
            been sold in a manner permitted by the Prospectus, or comparable evidence of the transfer of ownership of any Registrable Securities that are held in uncertificated form with respect to records maintained by CorEnergy’s then-current transfer
            agent and registrar for any of such Registrable Securities;

       

      (i)          upon the occurrence of any event
            contemplated by Subsection 2.1(f)(v), promptly (subject to the timing provisions of Section 1.1(b) above) prepare and file a supplement or post-effective amendment to the Registration Statement or the Prospectus or any document incorporated
            therein by reference or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities, the Registration Statement, and the Prospectus will not contain any untrue statement of a material fact or
            omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading;

       

      (j)          cause the Registrable Securities to
            be listed on any securities exchange on which securities of the same class issued by CorEnergy are then listed;

       

      (k)          make available for inspection by the
            Selling Holders, any Underwriter participating in any disposition or sale pursuant to such registration statement and any counsel, accountants or other representatives retained by Selling Holders, such financial and other records and pertinent
            corporate documents of CorEnergy and cause the officers, directors and employees of CorEnergy to supply such records, documents or information reasonably requested by the Selling Holders, counsel, accountants or representatives in connection
            with the preparation of the Registration Statement that are reasonably required in order for the Selling Holders to establish their “due diligence” defense against liabilities under Section 12(a)(2) of the 1933 Act; provided, however, that such
            records, documents or information are confidential and shall not be disclosed by the Selling Holders, counsel, accountants or representatives unless (i) such disclosure is ordered pursuant to a subpoena or other order from a court of competent
            jurisdiction, or (ii) such records, documents or information become generally available to the public other than through a breach of the terms hereof;

       

          

      
        7

        
          

      

      (l)          maintain a transfer agent and
            registrar for all such Registrable Securities no later than the effective date of such Registration Statement;

       

      (m)       enter into and perform such customary
            agreements (including, as applicable, underwriting agreements in customary form) and take all such other actions as the Selling Holders of the Registrable Securities being sold or the Underwriters, if any, reasonably request in order to
            expedite or facilitate the disposition of such Registrable Securities;

       

      (n)       obtain a “comfort” letter from
            CorEnergy’s independent registered public accountants in the event of an Underwritten Offering or other coordinated offering that is registered pursuant to a Registration Statement, in customary form and covering such matters of the type
            customarily covered by “comfort” letters as the managing Underwriter or other similar type of sales agent or placement agent may reasonably request, and reasonably satisfactory to the Selling Holders;

       

      (o)          on the date the Registrable
            Securities are delivered for sale pursuant to such registration, obtain an opinion, dated such date, of counsel representing CorEnergy for the purposes of such registration, addressed to the Selling Holders, the placement agent or sales agent,
            if any, and the Underwriters, if any, covering such legal matters with respect to the registration in respect of which such opinion is being given as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are
            customarily included in such opinions and negative assurance letters, and reasonably satisfactory to the Selling Holders;

       

      (p)          make available to its security
            holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of CorEnergy’s first full calendar quarter after the effective date of the Registration Statement
            which satisfies the provisions of Section 11(a) of the 1933 Act and Rule 158 thereunder (or any successor rule then in effect);

       

      (q)       to the extent that any Selling Holder,
            in the determination of CorEnergy, might be deemed to be an underwriter of any Registrable Securities or a controlling person of CorEnergy, permit such Selling Holder to participate in the preparation of such registration or comparable
            statement and to allow such Selling Holder to provide language for insertion therein, in form and substance satisfactory to CorEnergy, which in the reasonable judgment of such Selling Holder and its counsel should be included;

       

      (r)         use its reasonable best efforts to
            cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of
            such Registrable Securities;

       

      (s)         cooperate with the Selling Holders
            covered by the Registration Statement and the managing Underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold under the
            Registration Statement, or the removal of any restrictive legends associated with any account at which such securities are held, and enable such securities to be in such denominations and

       

          

      
        8

        
          

      

       registered in such names as the managing Underwriter, or agent, if any, or such Selling Holders may request;

       

      (t)          consider any request by any managing
            Underwriter, to include in any Prospectus or supplement thereto updated financial or business information for CorEnergy’s most recent period or current quarterly period (including estimated results or ranges of results);

       

      (u)         otherwise, in good faith, cooperate
            reasonably with, and take such customary actions as may reasonably be requested by the Selling Holders, in connection with such registration.

       

      Section 2.2          Registration Expenses. CorEnergy shall bear all expenses reasonably relating to filing the Registration Statement and keeping the Registration Statement current, effective and available during the period
            specified above; provided, however, that CorEnergy shall not be responsible for any brokerage fees or underwriting commissions, if any, incurred by any Selling Holders in connection with the resale of Registrable Securities, the fees and
            expenses of any counsel, accountant or other representative or advisor retained by any of the Holders in connection with resales of the Registrable Securities or income or transfer taxes, if any, relating to the sale or disposition of
            Registrable Securities.

       

      ARTICLE III

      PIGGY-BACK REGISTRATION

       

      Section 3.1       Notice and Registration. If CorEnergy proposes to conduct a registered offering of, or if CorEnergy proposes to file a Registration Statement under the 1933 Act with respect to the registration of, certain
            CorEnergy Public Shares (such offered shares referred to herein as “Other Securities”), for its own account or for the account of equity holders of CorEnergy (or by CorEnergy and by
            the equityholders of CorEnergy) (such registered offering, a “Piggyback Registration”), it will give prompt written notice to the Holders of its intention to do so, which notice the
            Holders shall keep confidential in the manner prescribed for information delivered to Holders pursuant to Section 2.1(k) hereof, and upon the written request of any of the Holders delivered to CorEnergy within fifteen (15) business days after
            the giving of any such notice (which request shall specify the number and class of CorEnergy Public Shares intended to be disposed of by such Holders and the intended method of disposition thereof) CorEnergy will use all commercially reasonable
            efforts to effect, in connection with the registration of the Other Securities, the registration under the Securities Act of all such CorEnergy Public Shares which CorEnergy has been so requested to register by the Selling Holders, to the
            extent required to permit the disposition (in accordance with the intended method or methods thereof as aforesaid) of the CorEnergy Public Shares so to be registered, provided that:

       

      (a)         If, at any time after giving such
            written notice of its intention to register any Other Securities and prior to the effective date of the registration statement filed in connection with such registration, CorEnergy shall determine for any reason not to register the Other
            Securities, CorEnergy may, at its election, give written notice of such determination to the Holders and thereupon CorEnergy shall be relieved of its obligation to register such CorEnergy Public Shares in connection with the registration of
            such Other Securities, without prejudice, however, to

       

          

      
        9

        
          

      

       the rights (if any) of the Holders immediately to request that such registration be effected as a registration under Article I;

       

      (b)         CorEnergy will not be required to
            effect any registration pursuant to this Article III if CorEnergy shall have been advised in writing (with a copy to the Selling Holders, subject to the confidentiality requirement set forth above) by a nationally recognized independent
            investment banking firm selected by CorEnergy to act as lead underwriter in connection with the public offering of securities by CorEnergy that, in such firm’s opinion, such registration at that time would materially and adversely affect
            CorEnergy’s own scheduled offering, provided, however, that if an offering of some but not all of the shares requested to be registered by the Holders and other holders of CorEnergy’s securities with piggyback rights would not adversely affect
            CorEnergy’s offering, the offering will include all securities offered by CorEnergy and such number of securities with piggyback rights as is determined by such lead underwriter is the maximum number that can be included without adversely
            affecting CorEnergy’s offering, and the aggregate number of shares requested to be included in such offering by the Selling Holders and each other group of securityholders with piggyback rights shall be reduced pro rata based on the relative
            number of shares being proposed for inclusion by each; and

       

      (c)         CorEnergy shall not be required to
            effect any registration of CorEnergy Public Shares under this Article III incidental to the registration of any of its securities (i) on Form S-8 or any successor form to such Form or in connection with any employee or director welfare, benefit
            or compensation plan, (ii) on Form S-4 or any successor form to such Form or in connection with an exchange offer, (iii) in connection with a rights offering exclusively to existing holders of stock, (iv) in connection with an offering solely
            to employees of CorEnergy or its subsidiaries, or (v) relating to a transaction pursuant to Rule 145 of the Securities Act.

       

      Section 3.2        Impact on Rights Under Article I. No registration of CorEnergy Public Shares effected under this Article III shall relieve CorEnergy of its obligations (if any) to effect registrations of CorEnergy Public
            Shares pursuant to Article I above.

       

      Section 3.3         Registration Expenses. CorEnergy (as between CorEnergy and the Selling Holders) shall be responsible for the payment of all registration expenses in connection with any registration pursuant to this Article
            III.

       

      ARTICLE IV

      INDEMNIFICATION

       

      Section 4.1          Indemnification by CorEnergy. (a) CorEnergy hereby agrees to indemnify and hold harmless the Holders, and their respective agents and employees (each such person being sometimes hereinafter referred to as an
            “Indemnified Holder”), from and against any and all losses, claims, damages, costs and expenses (including reasonable attorneys’ fees) to which any of the Holders or each such person
            may become subject under the 1933 Act or otherwise that arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or the Prospectus, or any amendment or supplement
            thereto, or by reason of any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and
            shall reimburse each Indemnified Holder for any legal or other

       

          

      
        10

        
          

      

       expenses reasonably incurred by such Indemnified Holder in connection with investigating, preparing or defending against any such loss,
            claim or damages as such expenses are incurred; provided, however, that the indemnity provided pursuant to this Section 4.1 shall not apply to any Holder with respect to any such losses, claims, damages, costs and expenses (including reasonable
            attorneys’ fees) that arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission made in reliance upon information furnished in writing to CorEnergy by such Holder expressly for use therein
            relating to such Holder’s status as a selling securities Holder and provided further that the indemnity provided pursuant to this Section 4.1 shall not be for the benefit of any third party.

       

      Section 4.2         Indemnification by Holders. Each Holder selling shares pursuant to the Registration Statement (an “Indemnifying Holder”) severally agrees to
            indemnify and hold harmless CorEnergy, and its respective directors and officers and each person or entity, if any, who controls CorEnergy (within the meaning of either Section 15 of the Securities Act or Section 20 of the 1934 Act) to the same
            extent as the foregoing indemnity from CorEnergy to such Indemnifying Holder, but only insofar as such loss, claim, damage, cost or expense arises out of or is based upon any untrue statement or alleged untrue statement or omission or alleged
            omission made in the Registration Statement or any amendment thereto or the Prospectus or any Amendment or supplement thereto in reliance upon and in conformity with written information furnished to CorEnergy by such Selling Holder expressly
            for use therein; provided that the indemnity provided pursuant to this Section 4.2 shall not be for the benefit of any third party; provided further that that the obligation to indemnify shall be several, not joint and several, among such
            Holders of Registrable Securities, and that the maximum aggregate indemnity by a Holder will be capped at the amount of proceeds derived by such Holder from the sale of restricted securities of such Holder sold pursuant to the Registration
            Statement. The indemnifying party shall not settle any matters without the indemnified party’s consent unless the indemnified party is fully released.

       

      Section 4.3         Conduct of Indemnification Proceedings. Each indemnified party shall give reasonably prompt notice to each indemnifying party of any action or proceeding commenced against it in respect of which indemnity may
            be sought hereunder, but failure to so notify an indemnifying party (i) shall not relieve it from any liability which it may have under the indemnity agreement provided in Sections 4.1 or 4.2 above, unless and to the extent it did not otherwise
            learn of such action and the lack of notice by the indemnified party materially prejudices the indemnifying party or results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) shall not, in any event,
            relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided under Sections 4.1 or 4.2 above. After receipt of such notice, the indemnifying party shall be entitled to
            participate in and, at its option, jointly with any other indemnifying party so notified, to assume the defense of such action or proceeding at such indemnifying party’s own expense with counsel chosen by such indemnifying party; provided,
            however, that, if the defendants in any such action or proceeding include both the indemnified party and the indemnifying party and the indemnified party reasonably determines, upon advice of counsel, that a conflict of interest exists or that
            there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, then the indemnified party shall be entitled to one separate counsel, the reasonable
            fees and expenses of which shall be paid by the indemnifying party. If the indemnifying party does not assume the defense of any such action or proceeding,

       

          

      
        11

        
          

      

       after having received the notice referred to in the first sentence of this Section, the indemnifying party will pay the reasonable fees
            and expenses of counsel (which shall be limited to a single law firm in addition to any local counsel necessary in connection with such action or proceeding) for the indemnified party. In such event, the indemnifying party will not be liable
            for any settlement effected without the written consent of such indemnifying party. If the indemnifying party assumes the defense of any such action or proceeding in accordance with this Section, such indemnifying party shall not be liable for
            any fees and expenses of counsel for the indemnified party incurred thereafter in connection with such action or proceeding except as set forth in the proviso in the second sentence of this Section 4.3.

       

      Section 4.4          Contribution.

       

      (a)          In order to provide for just and
            equitable contribution in circumstances in which the indemnity agreement provided for in this Article IV is for any reason held to be unenforceable although applicable in accordance with its terms, CorEnergy and the Selling Holders shall
            contribute to the aggregate losses, liabilities, claims, damages and expenses of the nature contemplated by such indemnity agreement incurred by CorEnergy and the Selling Holders, in such proportion as is appropriate to reflect the relative
            fault of CorEnergy on the one hand and the Selling Holders on the other, in connection with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable
            considerations. The relative fault of the indemnifying party and the indemnified parties shall be determined by reference to, among other things, whether the action in question, including any untrue or alleged untrue statement of a material
            fact or omission or alleged omission to state a material fact, has been made by, or relates to information supplied by, such indemnifying party or the indemnified parties, and the parties’ relative intent, access to information and opportunity
            to correct or prevent such action.

       

      (b)         The parties hereto agree that it
            would not be just or equitable if contribution pursuant to this Section 4.4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in Section 4.4(a).
            Notwithstanding the provisions of this Section 4.4, a Selling Holder shall not be required to contribute any amount in excess of the amount of the net proceeds received by such Holder in such offering giving rise to such liability.

       

      (c)         Notwithstanding the foregoing, no
            person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 4.4,
            each person, if any, who controls any Holder within the meaning of either Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same rights to contribution as such Holder, and each director of CorEnergy, each officer of
            CorEnergy who signed the Registration Statement and each person, if any, who controls CorEnergy within the meaning of either Section 15 of the 1933 Act or Section 20 of the 1934 Act, shall have the same rights to contribution as CorEnergy.

       

          

      
        12

        
          

      

      ARTICLE V

      MISCELLANEOUS

       

      Section 5.1           Class B Common Stock Restrictions on Transfer.

       

      (a)         Until the date that is the one-year
            anniversary of the Closing Date, no holder of outstanding shares of Class B Common Stock shall transfer any such shares of Class B Common Stock to any Person without the prior approval of the Board of Directors, provided that a holder of shares
            of Class B Common Stock shall be entitled to transfer shares of Class B Common Stock to an Affiliate of such holder for estate planning purposes.

       

      Section 5.2          Automatic Shelf Registrations. If CorEnergy files an automatic Shelf Registration Statement as defined in Rule 405 under the 1933 Act (“Automatic Shelf Registration Statement”) for the benefit of the holders
            of any of its securities other than the Holders, and the Holders of Registrable Securities do not request that their Registrable Securities be included in such Automatic Shelf Registration Statement, CorEnergy agrees that, at the request of any
            Holder, it will include in such Automatic Shelf Registration Statement such disclosures as may be required by Rule 430B under the 1933 Act in order to ensure that the Holders of Registrable Securities may be added to such Automatic Shelf
            Registration Statement at a later time through the filing of a prospectus supplement rather than a post-effective amendment.

       

      Section 5.3          Certain Other Obligations of CorEnergy. CorEnergy covenants that, so long as it is subject to the reporting requirements of the 1934 Act, it will use its reasonable efforts to file the reports required to be
            filed by it under the 1934 Act so as to enable the Holders to sell the Registrable Securities pursuant to Rule 144 under the 1933 Act.

       

      (a)        In connection with any sale, transfer
            or other disposition by a Holder of any Registrable Securities pursuant to Rule 144 under the 1933 Act, CorEnergy shall reasonably cooperate with such Holder to facilitate the timely preparation and delivery of certificates evidencing any
            certificated Registrable Securities to be sold and not bearing any 1933 Act legend, and to take such equivalent actions as may be required with the then-current transfer agent and registrar for any Registrable Securities held in uncertificated
            form, so as to enable certificates for such Registrable Securities (or the equivalent ownership records for uncertificated Registrable Securities) to be issued for such number of shares and registered in such names as the selling Holder may
            reasonably request. CorEnergy’s obligation set forth in the previous sentence shall be subject to the receipt by CorEnergy and its transfer agent of customary Rule 144 sellers’ representations from such Holder (or an equivalent opinion of
            counsel to such Holder), in form and substance reasonably satisfactory to CorEnergy and its transfer agent, as well as an opinion from counsel to CorEnergy that such 1933 Act legend need not appear on such certificate (or the equivalent
            ownership records with respect to any uncertificated Registrable Securities).

       

      Section 5.4         Successors and Assigns. The terms hereof shall be binding upon and inure to the benefit of CorEnergy and the respective Holders.

       

      Section 5.5       Amendments and Waivers. The terms hereof, including the provisions of this sentence, may not be amended, modified, supplemented or waived, nor may consent to departures therefrom be given, without the written
            consent of CorEnergy and Holders representing

       

          

      
        13

        
          

      

       two-thirds (2/3) of the Registrable Securities then outstanding and covered hereby; provided, however, that no amendment, modification,
            supplement or waiver of, or consent to the departure from, the provisions hereof, which has the purpose or effect of reducing, impairing or adversely affecting the right of any Holder, shall be effective as against such Holder of Registrable
            Securities unless consented to in writing by such Holder. Notice of any such amendment, modification, supplement, waiver or consent adopted in accordance with this Section 5.5 shall be provided by CorEnergy to the applicable Holder or Holders
            of Registrable Securities at least 30 days prior to the effective date of such amendment, modification, supplement, waiver or consent.

       

      Section 5.6         Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand delivery, registered first-class mail, telex, telecopier, or any courier guaranteeing
            overnight delivery, (i) if to the Holders, c/o Richard Green at 1100 Walnut Street, Suite 3350, CorEnergy Infrastructure Trust, Inc., Kansas City, Missouri 64106 (with a copy to Jim Allen at Stinson LLP, 1201 Walnut Street, Suite 2900, Kansas
            City, Missouri 64106), or (ii) if to CorEnergy, at 1100 Walnut Street, Suite 3350 Kansas City, Missouri 64106, Attention: David J. Schulte.

       

      Section 5.7        Specific Performance. The parties hereto agree that the obligations imposed on them herein are special, unique and of an extraordinary character, and that in the event of breach by any party damages would not
            be an adequate remedy, and each of the other parties shall be entitled to specific performance and injunctive and other equitable relief in addition to any other remedy to which it may be entitled, at law or in equity; and the parties hereto
            further agree to waive any requirement for the securing or posting of any bond in connection with the obtaining of any such injunctive or other equitable relief.

       

      Section 5.8        Headings. The headings contained herein are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

       

      Section 5.9          Severability. If any provision hereof (or any portion thereof) or the application of any such provision (or any portion thereof) to any person or circumstance shall be held invalid, illegal or unenforceable
            in any respect by a court of competent jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining portion thereof) or the application of such provision to any other persons or
            circumstance.

       

      Section 5.10       Governing Law. The terms hereof shall be governed by and construed in accordance with the internal laws of the State of Maryland applicable to agreements made and to be performed entirely within such State,
            without regard to the conflicts of law principles of such State.

       

      Section 5.11        Counterpart Execution. This Agreement may be executed in any number of counterparts with the same effects as if all parties had signed the same documents.

       

          

      [Signature page follows]

       

      
        14

        
          

      

      IN WITNESS WHEREOF, the
          undersigned have executed this agreement as of February 4, 2021.

      

      

      
        	
                CORENERGY INFRASTRUCTURE TRUST, INC.

              	 	 
	 	 	 

        	
                By:

              	/s/ David J. Schulte

              	 	 
	
                Name:

              	David J. Schulte	 	 
	
                Title:

              	Executive Chairman, CEO & President

              	 	 

        

           

        	
                HOLDERS:

              	 	 	 
	/s/ John D. Grier	 	/s M. Bridget Grier	 
	
                John D. Grier,

                Individually and as Trustee of each of (i) The Bridget Grier Spousal Support Trust dated December 18, 2012; (ii) The Hugh David Grier Trust dated October 15, 2012; and (iii) The Samuel
                  Joseph Grier Trust dated October 15, 2012

              	
                M. Bridget Grier

              
	 	 

        	 	 	 	 
	
                

                

              	 	
                

                

              	 

        	 	 	 	 
	

              	 	
                

                

              	 

        	 	 	 	 
	

              	 	
                

                

              	 

        	 	 	 	 
	
                

                

              	 	

              	 

        

           

        [Signature Page to Registration Rights Agreement]

      

      

      

      
        
          

      

      SCHEDULE A

      

      

      Holders:

      

      

      John D. Grier

      

      

      M. Bridget Grier

      

      

      The Bridget Grier Spousal Support Trust dated December 18, 2012

      

      

      The Hugh David Grier Trust dated October 15, 2012

      

      

      The Samuel Joseph Grier Trust dated October 15, 2012

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