Document:

ex_409431.htm

Exhibit 10.2

 

FOURTH AMENDMENT TO THE FIXED PRICE TURNKEY AGREEMENT FOR THE ENGINEERING, PROCUREMENT AND CONSTRUCTION OF TRAINS 1 AND 2 OF THE RIO GRANDE NATURAL GAS LIQUEFACTION FACILITY

 

THIS FOURTH AMENDMENT TO THE FIXED PRICE TURNKEY AGREEMENT FOR THE ENGINEERING, PROCUREMENT AND CONSTRUCTION OF TRAINS 1 AND 2 OF THE RIO GRANDE NATURAL GAS LIQUEFACTION FACILITY (this “Amendment”) is made and executed as of the 29th day of April, 2022 (the “Amendment Effective Date”), by and between Rio Grande LNG, LLC, a Texas limited liability company (“Owner”) and Bechtel Energy Inc. (f/k/a Bechtel, Oil, Gas and Chemicals, Inc.), a corporation organized under the laws of Delaware (“Contractor”).

 

RECITALS

 

WHEREAS, Owner and Contractor entered into that certain Fixed Price Turnkey Agreement for the Engineering, Procurement and Construction of Trains 1 and 2 of the Rio Grande Natural Gas Liquefaction Facility dated May 24, 2019, as amended by that certain First Amendment dated April 22, 2020, that certain Second Amendment dated October 5, 2020 and that certain Third Amendment dated March 5, 2021 (collectively, the “Agreement”) (capitalized terms defined therein having the same meaning when used herein).

 

WHEREAS, Owner and Contractor wish to amend the Agreement on the terms set forth herein.

 

AMENDMENT

 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows:

 

1.    Definition of Final NTP Deadline. In Section 5.2E.3 of the Agreement, “July 31, 2022” shall be deleted and replaced with “July 31, 2023”.

 

2.    Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the state of Texas (without giving effect to the principles thereof relating to conflicts of law).

 

3.    Counterparts. This Amendment may be signed in any number of counterparts and each counterpart (when combined with all other counterparts) shall represent a fully executed original as if one copy had been signed by each of the Parties. Electronic signatures shall be deemed as effective as original signatures.

 

4.    No Other Amendment. Except as expressly amended hereby, the terms and provisions of the Agreement remain in full force and effect and are ratified and confirmed by Owner and Contractor in all respects as of the Amendment Effective Date.

 

5.    Miscellaneous Provisions. The terms of this Amendment are hereby incorporated by reference into the Agreement. This Amendment shall be binding upon and shall inure to the benefit of the Parties and their respective successors and assigns. The recitals set forth in the recitals above are incorporated herein by this reference. Captions and headings throughout this Amendment are for convenience and reference only and the words contained therein shall in no way be held to define or add to the interpretation, construction, or meaning of any provision.

 

 

 

[Signature Page Follows]       

 

 

 

 

 

 IN WITNESS WHEREOF, Owner and Contractor have caused this Amendment to be executed by their duly authorized representatives as of the Amendment Effective Date.

 

Owner:

 

RIO GRANDE LNG, LLC

 

By: /s/ Ivan Van der Walt         

Name: Ivan Van der Walt

Title: Chief Operating Officer

 

 

Contractor:

 

BECHTEL ENERGY INC.

 

By:/s/ Steven M. Smith         

Name: Steven M. Smith

Title: Principal Vice Presidentex_409432.htm

Exhibit 10.3

 

FOURTH AMENDMENT TO THE FIXED PRICE TURNKEY AGREEMENT FOR THE ENGINEERING, PROCUREMENT AND CONSTRUCTION OF TRAIN 3 OF THE RIO GRANDE NATURAL GAS LIQUEFACTION FACILITY

 

THIS FOURTH AMENDMENT TO THE FIXED PRICE TURNKEY AGREEMENT FOR THE ENGINEERING, PROCUREMENT AND CONSTRUCTION OF TRAIN 3 OF THE RIO GRANDE NATURAL GAS LIQUEFACTION FACILITY (this “Amendment”) is made and executed as of the 29th day of April, 2022 (the “Amendment Effective Date”), by and between Rio Grande LNG, LLC, a Texas limited liability company (“Owner”) and Bechtel Energy Inc. (f/k/a Bechtel, Oil, Gas and Chemicals, Inc.), a corporation organized under the laws of Delaware (“Contractor”).

 

RECITALS

 

WHEREAS, Owner and Contractor entered into that certain Fixed Price Turnkey Agreement for the Engineering, Procurement and Construction of Train 3 of the Rio Grande Natural Gas Liquefaction Facility dated May 24, 2019, as amended by that certain First Amendment dated April 22, 2020, that certain Second Amendment dated October 5, 2020 and that certain Third Amendment dated March 5, 2021 (collectively, the “Agreement”) (capitalized terms defined therein having the same meaning when used herein).

 

WHEREAS, Owner and Contractor wish to amend the Agreement on the terms set forth herein.

 

AMENDMENT

 

NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Parties hereby agree as follows:

 

1.    Definition of Final NTP Deadline. In Section 5.2D.3 of the Agreement, “July 31, 2022” shall be deleted and replaced with “July 31, 2023”.

 

2.    Governing Law. This Amendment shall be governed by, and construed in accordance with, the laws of the state of Texas (without giving effect to the principles thereof relating to conflicts of law).

 

3.    Counterparts. This Amendment may be signed in any number of counterparts and each counterpart (when combined with all other counterparts) shall represent a fully executed original as if one copy had been signed by each of the Parties. Electronic signatures shall be deemed as effective as original signatures.

 

4.    No Other Amendment. Except as expressly amended hereby, the terms and provisions of the Agreement remain in full force and effect and are ratified and confirmed by Owner and Contractor in all respects as of the Amendment Effective Date.

 

5.    Miscellaneous Provisions. The terms of this Amendment are hereby incorporated by reference into the Agreement. This Amendment shall be binding upon and shall inure to the benefit of the Parties and their respective successors and assigns. The recitals set forth in the recitals above are incorporated herein by this reference. Captions and headings throughout this Amendment are for convenience and reference only and the words contained therein shall in no way be held to define or add to the interpretation, construction, or meaning of any provision.

 

 

 

[Signature Page Follows]         

 

 

 

 

 

IN WITNESS WHEREOF, Owner and Contractor have caused this Amendment to be executed by their duly authorized representatives as of the Amendment Effective Date.

 

Owner:

 

RIO GRANDE LNG, LLC

 

By: /s/ Ivan Van der Walt         

Name: Ivan Van der Walt

Title: Chief Operating Officer

 

 

Contractor:

 

BECHTEL ENERGY INC.

 

By: /s/ Steven M. Smith         

Name: Steven M. Smith

Title: Principal Vice PresidentEX-10.1

  Exhibit 10.1

   

  SOLID BIOSCIENCES INC.

   

  NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

   

  The non-employee directors of Solid Biosciences Inc. (the “Company”) shall receive the following compensation for their service as members of the Board of Directors of the Company (the “Board”).

   

  Director Compensation

   

  Our goal is to provide compensation for our non-employee directors in a manner that enables us to attract and retain outstanding director candidates and reflects the substantial time commitment necessary to oversee the Company’s affairs. We also seek to align the interests of our directors and our stockholders, and we have chosen to do so by compensating our non-employee directors with a mix of cash and equity-based compensation.

   

  Cash Compensation

   

  The fees that will be paid to our non-employee directors for service on the Board, and for service on each committee of the Board on which the director is then a member, and the fees that will be paid to the chairperson of each committee of the Board will be as follows:

   

  			
	 
	 
	Chairperson Incremental

	 
	Member Annual Fee
	Annual Fee

	Board of Directors
	$40,000
	$35,000

	Audit Committee
	$7,500
	$7,500

	Clinical Committee
	$7,500
	$7,500

	Compensation Committee
	$5,000
	$5,000

	Nominating and Corporate Governance Committee
	$4,000
	$4,000

   

  The foregoing fees will be payable in arrears in equal semi-annual installments not later than the 15th business day following the end of the second and fourth calendar quarters, provided that the amount of such payment will be prorated for any portion of such semi-annual period that the director is not serving on the Board, on such committee or in such position, and no fee shall be payable in respect of any period prior to the completion of our initial public offering.

   

  Equity Compensation

   

  Initial Stock Option Grants. Upon initial election to our Board, each non-employee director will be granted, automatically and without the need for any further action by the Board, an initial equity award of an option to purchase 102,000 shares of our common stock. The option shall have a term of ten years from the grant date and shall vest and become exercisable as to 1/3 of the shares underlying such option on each anniversary of the grant date until the third anniversary of the grant date, subject to the director’s continued service as a director through each applicable vesting date. The vesting shall accelerate as to 100% of the shares upon a change in control of the Company. The exercise price shall be the closing price of our common stock on the date of grant.

   

   

  

   

  Annual Stock Option Grants. Each non-employee director who has served as a member of our Board for at least six months prior to the date of our annual meeting of stockholders for a particular year will be granted, automatically and without the need for any further action by the Board, an equity award on the date of such annual meeting of an option to purchase 51,000 shares of our common stock. The option shall have a term of ten years from the grant date and shall vest and become exercisable in full on the earlier to occur of the one-year anniversary of the grant date and immediately prior to our first annual meeting of stockholders occurring after the grant date, subject, in each case, to the director’s continued service as a director through the applicable vesting date. The vesting shall accelerate as to 100% of the shares upon a change in control of the Company. The exercise price shall be the closing price of our common stock on the date of grant.

   

  The foregoing share amounts shall be adjusted in the event of certain changes in the capital structure or business of the Company, including any stock split, reverse stock split, stock dividend, combination or reclassification of shares, recapitalization, spin off or other similar change in the Company’s capitalization and any non-cash dividend or distribution to holders of common stock, in each case in accordance with the terms of our 2020 Equity Incentive Plan, or any successor plan.

   

  The initial stock option awards and the annual stock option awards shall be subject to the terms and conditions of our 2020 Equity Incentive Plan, or any successor plan, and the terms of the option agreements entered into with each director in connection with such awards.

   

  Expenses

   

  Upon presentation of documentation of such expenses reasonably satisfactory to the Company, each non-employee director shall be reimbursed for his or her reasonable out-of-pocket business expenses incurred in connection with the performance of their duties as directors, including travel expenses in connection with their attendance in-person at Board and committee meetings. 

   

  Effective: June 16, 2020, as amended June 7, 2022.

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