Document:

Exhibit 10.2

 

OMNIBUS AMENDMENT TO

OUTSTANDING RESTRICTED STOCK AGREEMENT

UNDER TELLURIAN INC. AMENDED AND RESTATED 2016

OMNIBUS INCENTIVE COMPENSATION PLAN 

 

This Omnibus Amendment (this “Amendment”),
dated as of the date set forth on the signature page hereto, amends the terms and conditions of your restricted stock award agreement
(the “Award Agreement”) governing the terms of the incentive awards granted under the Tellurian Inc. (the “Company”)
Amended and Restated 2016 Omnibus Incentive Compensation Plan (the “Plan”). Capitalized terms used but not defined
herein shall have the meaning set forth in the applicable Award Agreement or the Plan, as applicable.

 

In accordance with the terms of the Award Agreement
and the Plan, you are being asked to consent to this Amendment to your Award Agreement.

 

The effectiveness of this Amendment is subject
to, and contingent upon, the approval by the board of directors (the “Board”) of the Company of the following compensation
changes, which serve as consideration of the promises and covenants herein, and which will be effective as of the date of effectiveness
of this Amendment: (i) your annual base salary will be increased to $[●] effective January 1, 2022; (ii) your target and maximum
short-term annual incentive opportunity will be [●]% and [●]% of your annual base salary, respectively; (iii) your target
long-term incentive opportunity will be [●] times your annual base salary; and (iv) your maximum long-term incentive opportunity
will be [●] times your target long-term incentive opportunity. In addition to, and not in limitation of the foregoing, as further
consideration of the promises and covenants herein, the Company represents and warrants that you will be eligible to participate in the
Company’s incentive compensation program (“ICP”) subject to the terms and conditions of the ICP. The amount of
any awards granted to you under the ICP in any calendar year (if any), will be determined by the Board or its designee, and may, take
into account such factors as the Board determines to be relevant, which may include individual or Company-level performance and which
may be reduced by the amount of any cash payments received by you pursuant to your construction incentive program award in respect of
the same calendar year as the applicable ICP award is granted, in each case as determined by the Board in its sole discretion.

 

Now, therefore, the Award Agreement is hereby
amended as provided on Exhibit A, attached hereto.

 

By signing this Amendment, you acknowledge that
you are signing this Amendment voluntarily and while under no obligation or compulsion to do so. You are not relying on the Company or
any of its affiliates or any of their respective directors, officers, employees, agents, representatives or advisors with respect to the
legal, tax, economic and related considerations of this Amendment, and the Company does not assume any liability with regard thereto.

 

Except as expressly modified by this Amendment,
the terms and conditions of the Award Agreement shall continue to apply in accordance with its terms and the terms of the Plan.

 

To accept the terms of this Amendment,
please acknowledge your acceptance by signing a copy of the signature page on the following page and returning it to Tellurian Inc.,
1201 Louisiana Street, Suite 3100, Houston, TX 77002, Attn: Margie Harris, EVP, Chief Human Resources Officer, by hand delivery, UPS
or similar carrier, or certified mail, or electronic mail to margie.harris@tellurianinc.com. This Amendment may be executed in one
or more counterparts, all of which together shall constitute one and the same instrument.

 

[Remainder of page intentionally blank.]

 

     

     

    

 

	Kindest
    regards,	 
	 	 
	Tellurian
    Inc.	 
	 	 
	 	 
	By:	 	 
	Name:   		 
	Title: 		 
	 	 
	Tellurian
    Services LLC	 
	 	 
	 	 
	By:	 	 
	Name: 		 
	Title: 		 

 

	 	Agreed
    and Accepted:
	 	 
	 	 
	 	By:	 
	 	 	[●]
	 	 
	 	Date: 	 

 

    2

     

    

 

EXHIBIT A

 

Reference is hereby made to that certain Omnibus
Amendment to which this Exhibit is attached and forms a part of (the “Amendment”). Capitalized terms used but not defined
herein shall have the meaning set forth in the Amendment, the Award Agreement or the Plan, as applicable. Pursuant to the Amendment, your
Award Agreement dated as of [●], shall, immediately and without further action by any party, be amended to provide as follows:

 

		1.	Notwithstanding anything in the Award Agreement or the Plan
to the contrary, (i) upon the occurrence of a Change of Control, no then-unvested Shares of Restricted Stock shall become vested as a
result of such Change of Control, but will instead remain outstanding and eligible to vest in accordance with the terms of the Award
Agreement, as amended by paragraph 2 hereof.

 

		2.	Notwithstanding anything in paragraph 1 hereof, the Award Agreement
or the Plan to the contrary, in the event you experience a Termination of Service by the Company without Cause within the one (1) year
period immediately following a Change of Control, any Shares of Restricted Stock that are unvested and/or subject to forfeiture restrictions
as of the date of such Termination of Service shall immediately vest in full and all forfeiture restrictions thereon shall lapse effective
as of the date of such Termination of Service, subject to and conditioned upon, other than in the event of your death, (I) your continued
compliance with all confidentiality obligations and restrictive covenants to which you are subject (the “Restrictive Covenants”)
and (II) your timely execution and delivery (without revocation) to the Company of a general release of all claims of any kind that you
have or may have against the Company and its Affiliates and their respective officers, directors, employees, shareholders, agents and
representatives, in a form satisfactory to the Company (the “Release”) within twenty-one (21) days (or such longer
period as may be required by law) after delivery of the form of Release by the Company.

 

		3.	For purposes of the Award Agreement (as amended hereby):

 

(a)  
Notwithstanding anything in the Award Agreement or the Plan to the contrary, “Change of Control” shall mean
the occurrence of any of the following after the Effective Date:

 

(A)       any
individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
 “Person”) acquires beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of
more than 50% of either (1) the then outstanding shares of Common Stock of the Company (the “Outstanding Company Common
Stock”) or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote
generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for
purposes of this subsection (A), the following acquisitions shall not constitute a Change of Control: (I) any acquisition directly
from the Company or any Subsidiary or Affiliate, (II) any acquisition by the Company or any Subsidiary or Affiliate, (III) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the
Company, (IV) any acquisition pursuant to a transaction which complies with clauses (1) and (2) of subsection (C) below, or (V) any
acquisition of additional securities by any Person who, as of the Restatement Effective Date, held 15% or more of either (x) the
Outstanding Company Common Stock or (y) the Outstanding Company Voting Securities;

 

    3

     

    

 

(B)       a
majority of the individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any
reason during any twelve (12)-month period to constitute at least a majority of the Board; provided, however, that any individual becoming
a director subsequent to the Effective Date whose election, or nomination for election by the Company’s stockholders, was approved
by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were
a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result
of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation
of proxies or consents by or on behalf of a person other than the Board;

 

(C)       consummation
by the Company of a reorganization, merger, or consolidation, or sale or other disposition of all or substantially all of the assets of
the Company, or the acquisition of assets of another entity (a “Business Combination”), in each case, unless, following
such Business Combination, (1) all or substantially all of the individuals and entities who were the beneficial owners, respectively,
of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially
own, directly or indirectly, more than 50% of the then outstanding shares of Common Stock and the combined voting power of the then outstanding
voting securities entitled to vote generally in the election of directors, as the case may be, of the entity resulting from such Business
Combination (including, without limitation, an entity which as a result of such transaction owns the Company or all or substantially all
of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership,
immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as
the case may be, and (2) at least a majority of the members of the board of directors (or equivalent governing authority) of the entity
resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or
of the action of the Board, providing for such Business Combination; or

 

    4

     

    

 

(D)       approval
by the stockholders of the Company of a complete liquidation or dissolution of the Company.

 

(b)  
Notwithstanding anything in the Award Agreement or the Plan to the contrary, “Cause” shall mean (i) in the case
where there is an employment agreement in effect between the Company or an Affiliate of the Company and you that defines “cause”
(or words of like import), “cause” (or words of like import) as defined under such agreement, or (ii) in the case where there
is no such employment agreement, a Termination of Service resulting from (A) your indictment for, conviction of, or pleading of guilty
or nolo contendere to, any felony or any crime involving fraud, dishonesty or moral turpitude; (B) your gross negligence with regard to
the Company or any Affiliate in respect of your duties for the Company or any Affiliate; (C) your willful misconduct having or, which
in the good faith discretion of the Board could have, an adverse impact on the Company or any Affiliate economically or reputation-wise;
(D) your material breach of this Agreement, or any employment, consulting or similar agreement between you and the Company or one of its
Affiliates or material breach of any code of conduct or ethics or any other policy of the Company, which breach (if curable in the good
faith discretion of the Board) has remained uncured for a period of ten (10) days following the Company’s delivery of written notice
to you specifying the manner in which the agreement or policy has been materially breached; or (E) your continued or repeated failure
to perform your duties or responsibilities to the Company or any Affiliate at a level and in a manner satisfactory to the Company in its
sole discretion (including by reason of your habitual absenteeism or due to your insubordination), which failure has not been cured to
the Company’s satisfaction following notice to you. Whether you have been terminated for Cause will be determined by the Company’s
Chief Executive Officer (or his or her designee) in his or her sole discretion or, if you are or are reasonably expected to become subject
to the requirements of Section 16 of the Exchange Act, by the Board or the Compensation Committee in its sole discretion. To the extent
you are terminated as a member of the Board of the Company or any of its Affiliates, such termination for “cause” shall be
determined in accordance with the provisions of Section 141(k) of the Delaware General Corporation Law.

 

    5Exhibit 10.3

 

OMNIBUS AMENDMENT TO

OUTSTANDING RESTRICTED STOCK AGREEMENT

UNDER AMENDED AND RESTATED TELLURIAN INVESTMENTS
INC. 

2016 OMNIBUS INCENTIVE PLAN

 

This Omnibus Amendment (this “Amendment”),
dated as of the date set forth on the signature page hereto, amends the terms and conditions of your restricted stock award agreement
(the “Award Agreement”) governing the terms of the incentive award granted under the Amended and Restated Tellurian
Investments Inc. 2016 Omnibus Incentive Plan (the “Plan”). Capitalized terms used but not defined herein shall have
the meaning set forth in the Award Agreement or the Plan, as applicable.

 

In accordance with the terms of the Award Agreement
and the Plan, you are being asked to consent to this Amendment to your Award Agreement.

 

The effectiveness of this Amendment is subject
to, and contingent upon, the approval by the board of directors (the “Board”) of Tellurian Inc. (the “Company”)
of the following compensation changes, which serve as consideration of the promises and covenants herein, and which will be effective
as of the date of effectiveness of this Amendment: (i) your annual base salary will be increased to $[●] effective January
1, 2022; (ii) your target and maximum short-term annual incentive opportunity will be [●]% and [●]% of your annual base salary,
respectively; (iii) your target long-term incentive opportunity will be [●] times your annual base salary; and (iv) your maximum
long-term incentive opportunity will be [●] times your target long-term incentive opportunity. In addition to, and not in limitation
of the foregoing, as further consideration of the promises and covenants herein, the Company represents and warrants that you will be
eligible to participate in the Company’s incentive compensation program (“ICP”) subject to the terms and conditions
of the ICP. The amount of any awards granted to you under the ICP in any calendar year (if any), will be determined by the Board or its
designee, and may, take into account such factors as the Board determines to be relevant, which may include individual or Company-level
performance and which may be reduced by the amount of any cash payments received by you pursuant to your construction incentive program
award in respect of the same calendar year as the applicable ICP award is granted, in each case as determined by the Board in its sole
discretion.

 

Now, therefore, the Award Agreement is hereby
amended as provided on Exhibit A attached hereto.

 

By signing this Amendment, you acknowledge that
you are signing this Amendment voluntarily and while under no obligation or compulsion to do so. You are not relying on the Company or
any of its affiliates or any of their respective directors, officers, employees, agents, representatives or advisors with respect to the
legal, tax, economic and related considerations of this Amendment, and the Company does not assume any liability with regard thereto.

 

Except as expressly modified by this Amendment,
the terms and conditions of the Award Agreement shall continue to apply in accordance with its terms and the terms of the Plan.

 

To accept the terms of this Amendment,
please acknowledge your acceptance by signing a copy of the signature page on the following page and returning it to Tellurian Inc.,
1201 Louisiana Street, Suite 3100, Houston, TX 77002, Attn: Margie Harris, EVP, Chief Human Resources Officer, by hand delivery, UPS
or similar carrier, or certified mail, or electronic mail to margie.harris@tellurianinc.com. This Amendment may be executed in one
or more counterparts, all of which together shall constitute one and the same instrument.

 

[Remainder of page intentionally blank.]

 

     

     

    

 

	Kindest
    regards,	 
	 	 
	Tellurian
    Inc.	 
	 	 
	 	 
	By:	 	 
	Name:   		 
	Title: 		 
	 	 
	Tellurian
    Services LLC	 
	 	 
	 	 
	By:	 	 
	Name: 		 
	Title: 		 

 

	 	Agreed
    and Accepted:
	 	 
	 	 
	 	By:	 
	 	 	[●]
	 	 
	 	Date: 	 

 

    2

     

    

 

EXHIBIT A

 

Reference is hereby made to that certain Omnibus
Amendment to which this Exhibit is attached and forms a part of (the “Amendment”). Capitalized terms used but not defined
herein shall have the meaning set forth in the Amendment, the Award Agreement or the Plan, as applicable. Pursuant to the Amendment, your
Award Agreement dated as of [●], shall, immediately and without further action by any party, be amended to provide as follows:

 

		1.	Notwithstanding anything in the Plan or the Award Agreement
to the contrary, upon the occurrence of a Change in Control, your then-unvested Restricted Shares (if any) will remain outstanding and
eligible to vest in accordance with the Vesting Schedule in the Award Agreement; provided that notwithstanding anything in the
Vesting Schedule or Section 6 of the Award Agreement to the contrary, in the event you experience a termination of Continuous Service
(a) by the Company without Cause, or (b) due to your death or Disability, in each case within the one (1) year period immediately following
a Change in Control, any Restricted Shares that are unvested and/or subject to forfeiture restrictions as of the date of such termination
of Continuous Service shall immediately vest in full and all forfeiture restrictions thereon shall lapse effective as of the date of
such termination of Continuous Service, subject to and conditioned upon, other than in the event of your death, (I) your continued compliance
with all confidentiality obligations and restrictive covenants to which you are subject, and (II) your timely execution and delivery
(without revocation) to the Company of a general release of all claims of any kind that you have or may have against the Company and
its Affiliates and their respective officers, directors, employees, shareholders, agents and representatives, in a form satisfactory
to the Company (the “Release”) within twenty-one (21) days (or such longer period as may be required by law) after
delivery of the form of Release by the Company.

 

		2.	For purposes of the Award Agreement (as amended hereby):

 

(a)   Notwithstanding
anything in the Award Agreement or the Plan to the contrary, “Cause” shall mean (i) in the case where there is an
employment agreement in effect between the Company or an Affiliate of the Company and you that defines “cause” (or words
of like import), “cause” (or words of like import) as defined under such agreement, or (ii) in the case where there is
no such employment agreement, a termination of your Continuous Service resulting from (A) your indictment for, conviction of, or
pleading of guilty or nolo contendere to, any felony or any crime involving fraud, dishonesty or moral turpitude; (B) your gross
negligence with regard to the Company or any Affiliate in respect of your duties for the Company or any Affiliate; (C) your willful
misconduct having or, which in the good faith discretion of the Board could have, an adverse impact on the Company or any Affiliate
economically or reputation-wise; (D) your material breach of this Agreement, or any employment, consulting or similar agreement
between you and the Company or one of its Affiliates or material breach of any code of conduct or ethics or any other policy of the
Company, which breach (if curable in the good faith discretion of the Board) has remained uncured for a period of ten (10) days
following the Company’s delivery of written notice to you specifying the manner in which the agreement or policy has been
materially breached; or (E) your continued or repeated failure to perform your duties or responsibilities to the Company or any
Affiliate at a level and in a manner satisfactory to the Company in its sole discretion (including by reason of your habitual
absenteeism or due to your insubordination), which failure has not been cured to the Company’s satisfaction following notice
to you. Whether you have been terminated for Cause will be determined by the Company’s Chief Executive Officer (or his or her
designee) in his or her sole discretion or, if you are or are reasonably expected to become subject to the requirements of Section
16 of the Exchange Act, by the Board or the Compensation Committee in its sole discretion. To the extent you are terminated as a
member of the Board of the Company or any of its Affiliates, such termination for “cause” shall be determined in
accordance with the provisions of Section 141(k) of the Delaware General Corporation Law.

 

    3

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