Document:

Exhibit

Exhibit 10.39

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT OF THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY SUBMITTED TO THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE ASTERISKS (***).

AMENDMENT NO. 1
TO MASTER PRODUCT PURCHASE AGREEMENT
CW NO. 2257242

This Amendment No. 1 to Master Product Purchase Agreement (this “Amendment”), effective October 12, 2018 (“Effective Date”), is made by and between Hess Corporation (“Buyer”) and Smart Sand, Inc. (“Smart Sand”). Buyer and Smart Sand may be referred to herein individually as a “Party” and collectively as the “Parties”.

WHEREAS, the Parties have entered into that certain Master Product Purchase Agreement, bearing CW No. CW2257242, dated February 13, 2018 (as heretofore amended, the “Agreement”);

WHEREAS, the Parties desire to amend the Agreement as herein provided; and

WHEREAS, pursuant to Section 16.1 of the Agreement, the Agreement may not be changed or amended except by a writing executed by both Parties.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

		
	1.
	Amendment to the Agreement.

1.1    Appendix B of the Agreement shall be deleted in its entirety and replaced with the Appendix attached to this Amendment.

2.General Provisions.

2.1    Except as hereby expressly amended, the Agreement shall remain as previously written and in full force and effect.

2.2    Buyer agrees that it will consider Smart Sand for its wellsite storage solutions to service one or more well location(s) 

2.3    Any term not otherwise defined herein shall have the meaning given to such term in the Agreement.

2.4    The terms and conditions of this Amendment shall inure to the benefit of and be binding upon the respective successors and assigns of the Parties. Nothing in this Amendment, express or implied, is intended to confer upon any party other than the Parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Amendment, except as expressly provided in this Amendment.

2.5    The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision.

2.6    This Amendment, the Agreement and the agreements and documents referred to herein, together with all the Appendices/Exhibits hereto and thereto, constitute the entire agreement and understanding of the Parties with respect to the subject matter of this Amendment, and supersede any and all prior understandings and agreements, whether oral or written, between or among the Parties hereto with respect to the specific subject matter hereof.

2.7    This Amendment may be executed in any number of counterparts with the same effect as if the signatures were upon a single engrossment of this Amendment, but shall not be effective until each Party has executed at least one counterpart. Each counterpart shall constitute an original of this Amendment, but all the counterparts shall together constitute one and the same instrument. The Parties agree that, a facsimile or other electronic version of this Amendment, when duly executed and transmitted, shall be considered for all purposes to be an original document, deemed for all purposes to be signed and constitute a legally binding agreement.

[Signature Page Follows]

IN WITNESS WHEREOF, the Parties hereto have executed this Amendment No. 1 to Master Product Purchase Agreement effective as of the Effective Date.

Smart Sand, Inc.

By:        /s/ John Young            

Name:        John Young                

Title:        COO                    

Hess Corporation

By:        /s/ Rolle Hogan            

Name:         Rolle Hogan                

Title:         Sr. Manager GSC            

APPENDIX B

Product Mix Parameters

Buyer acknowledges the need for a balanced Product sales mix output from Smart Sand’s facilities.  Therefore, the following shall serve as a benchmark Product volume mix for each month during the Term.    

The following product mix shall apply to this Agreement:

	
		
	Product
	Product Mix (%)

	***
	***

	***
	***

Amendment to Commercial Agreement
Form 7/1/2012
Page 1 of 1Exhibit

Exhibit 10.40

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT OF THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY SUBMITTED TO THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE ASTERISKS (***).

October 4, 2018
Liberty Oilfield Services, LLC
950 17th Street, Suite 2400
Denver, Colorado 80202
Attn: Mrs. Janet Hoffman

Re:    Master Product Purchase Agreement 
Dear Sir or Madam:
This letter agreement is in regards to that certain Master Product Purchase Agreement, by and between Smart Sand, Inc. (“Smart Sand”) and Liberty Oilfield Services, LLC (“Liberty”), dated March 8, 2017, as amended by that certain First Amendment to Master Product Purchase Agreement, dated effective as of May 1, 2017 (as amended, the “PPA”). All capitalized terms contained in this letter agreement and not otherwise defined shall have the meanings ascribed to such terms in the PPA.
Per our discussion, Smart Sand and Liberty each hereby agrees to following:
		
	1.
	During the period commencing on October 1, 2018 and ending on October 31, 2018 (a “Credit Period”), in the event that Liberty purchases at least *** tons of Products (the “Credit Period Volume”) during the Credit Period, it shall be eligible for a credit equal to *** for each ton of *** Products purchased during the Credit Period, *** for each ton of *** Products purchased during the Credit Period, and *** for each ton of *** Products purchased during the Credit Period.  In the event that Liberty purchases less than the Credit Period Volume during the Credit Period, Liberty shall not be entitled to any credit hereunder. Notwithstanding the foregoing, if the volume of Products purchased by Liberty during the period commencing on September 1, 2018 and ending on October 31, 2018 is at least *** tons, then the foregoing credits shall also apply and be based on Products purchased during the period commencing on September 1, 2018 and ending on September 30, 2018, and an extra month shall be added to the Term in the manner set forth in Section 3 of this letter agreement. 

		
	2.
	Smart Sand may, in its sole discretion, institute one or more additional Credit Periods for any calendar month during the Term by providing written notice to Liberty. The Credit Period Volume requirement set forth in Section 1 of this letter agreement shall apply to each additional Credit Period.

		
	3.
	For each Credit Period in which the Credit Period Volume is purchased, the Term of the PPA shall be extended for an additional one-month period (all additional months, collectively, the “Tail Period”). The Tail Period 

shall constitute a Contract Year under the PPA, except that the Minimum Tons per Year and Minimum Tons per Quarter, as applicable, shall be prorated to reflect any period that is less than 12 months (as it pertains to a Contract Year) or three months (as it pertains to a quarter). The Contract Price in effect at the end of Contract Year 3 shall be the Contract Price during the Tail Period, subject to adjustment as set forth in Appendix C. The reference to the “fourth quarter of Contract Year 3” in Section 1.4 of the PPA shall be changed to the “final quarter of the Term”. In addition, the deferral rights set forth in Section 1.5 of the PPA shall not apply during the Tail Period.
		
	4.
	Except as expressly set forth in this letter agreement, all of the terms and conditions of the PPA shall remain unchanged and in full force and effect.

Please indicate your agreement to the terms of this letter agreement by signing in the space provided below and returning it to me.  This letter agreement may be executed in counterparts and delivered via facsimile or other electronic transmission, each of which shall be deemed to be an original and both of which together shall constitute one and the same agreement

SMART SAND, INC.

By: ___/s/ John Young________________________
       John Young, Chief Operating Officer

Confirmed, acknowledged and agreed to this 26th day of November, 2018:

LIBERTY OILFIELD SERVICES, LLC

By: __/s/ Ronald Gusek_____________________________________
       Name:Ronald Gusek
       Title   PresidentExhibit

Exhibit 10.41

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT OF THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY SUBMITTED TO THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE ASTERISKS (***).

January 16, 2019
Liberty Oilfield Services, LLC
950 17th Street, Suite 2000
Denver, Colorado 80202
Attn: Mrs. Janet Hoffman

Re:    Master Product Purchase Agreement 
Dear Sir or Madam:
This letter agreement is in regards to that certain Master Product Purchase Agreement, by and between Smart Sand, Inc. (“Smart Sand”) and Liberty Oilfield Services, LLC (“Liberty”), dated March 8, 2017, as amended by that certain First Amendment to Master Product Purchase Agreement, dated effective as of May 1, 2017, and Letter Agreement (the ‘Letter Agreement”), dated effective November 26, 2018 (as amended, the “PPA”). All capitalized terms contained in this letter agreement and not otherwise defined shall have the meanings ascribed to such terms in the PPA.
Per our discussion, Smart Sand and Liberty each hereby agrees to the following:
		
	1.
	During the period commencing on November 1, 2018 and ending on December 31, 2018 (the “2018 Credit Period”), Liberty shall be eligible for a credit (which may be issued at a future date) equal to *** for each ton of *** Products purchased during such month in the 2018 Credit Period, *** for each ton of *** Products purchased during such month in the 2018 Credit Period, and *** for each ton of *** Products purchased during such month in the 2018 Credit Period.  

		
	2.
	During the period commencing on January 1, 2019 and ending on March 31, 2019 (the “2019 Credit Period”), Liberty shall be eligible for a credit (which may be issued at a future date) equal to *** for each ton of *** Products purchased during such month in the 2019 Credit Period, *** for each ton of *** Products purchased during such month in the 2019 Credit Period, and *** for each ton of *** Products purchased during such month in the 2019 Credit Period.  

		
	3.
	The Term of the PPA shall be extended for an additional three-month period (the “Additional Tail Period”). The Additional Tail Period, together with the Tail Period from the Letter Agreement (collectively, the “Aggregate Tail Period”), shall constitute a Contract Year under the PPA, except that the Minimum Tons per Year and Minimum Tons per Quarter, as applicable, shall be prorated to reflect any period that is less than 12 months (as it pertains to a Contract Year) or three months (as it pertains to a quarter). The Contract Price in 

effect at the end of Contract Year 3 shall be the Contract Price during the Aggregate Tail Period, subject to adjustment as set forth in Appendix C of the PPA. The deferral rights set forth in Section 1.5 of the PPA shall not apply during the Aggregate Tail Period.
		
	4.
	Except as expressly set forth in this letter agreement, all of the terms and conditions of the PPA shall remain unchanged and in full force and effect.

Please indicate your agreement to the terms of this letter agreement by signing in the space provided below and returning it to me.  This letter agreement may be executed in counterparts and delivered via facsimile or other electronic transmission, each of which shall be deemed to be an original and both of which together shall constitute one and the same agreement

SMART SAND, INC.

By: __/s/ John Young________________________
       John Young, Chief Operating Officer

Confirmed, acknowledged and agreed to this 22nd day of January, 2019:

LIBERTY OILFIELD SERVICES, LLC

By: __/s/ Ronald Gusek_____________________________________
       Name: Ronald Gusek
       Title: President

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