Document:

Exhibit
10.5

 

REGISTRATION
RIGHTS AGREEMENT

 

This
Registration Rights Agreement (this “Agreement”) is made and entered into as of July 23, 2021, between VINCO VENTURES,
INC., a Nevada corporation (the “Company”), and each of the several purchasers signatory hereto (each such purchaser,
a “Purchaser” and, collectively, the “Purchasers”).

 

This
Agreement is made pursuant to the Securities Purchase Agreement, dated as of the date hereof, between the Company and each Purchaser
(the “Purchase Agreement”).

 

The
Company and each Purchaser hereby agrees as follows:

 

 1. Definitions.

 

Capitalized
terms used and not otherwise defined herein that are defined in the Purchase Agreement shall have the meanings given such terms in the
Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings:

 

“Advice”
shall have the meaning set forth in Section 6(c).

 

“Effectiveness
Date” means with respect to the Registration Statement required to be (A) filed, within 40th calendar day after
the Closing Date and (B) become effective within 80 calendar days after it is filed.

 

“Effectiveness
Period” shall have the meaning set forth in Section 2(a).

 

“Event”
shall have the meaning set forth in Section 2(d).

 

“Event
Date” shall have the meaning set forth in Section 2(d).

 

“Filing
Date” means, with respect to the Initial Registration Statement required hereunder, the 40th calendar day following
the date hereof and, with respect to any additional Registration Statements which may be required pursuant to Section 2(c) or Section
3(c), the earliest practical date on which the Company is permitted by SEC Guidance to file such additional Registration Statement related
to the Registrable Securities.

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities.

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Initial
Registration Statement” means the initial Registration Statement filed pursuant to this Agreement.

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

“Plan
of Distribution” shall have the meaning set forth in Section 2(a).

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated by the
Commission pursuant to the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to
the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus.

 

    	 

     

    

 

“Registrable
Securities” means, as of any date of determination, (a) all Shares and (b) all Warrant Shares then issued and issuable upon
exercise of the Warrants (assuming on such date the Warrants are exercised in full without regard to any exercise limitations therein),
and (c) any securities issued or then issuable upon any stock split, dividend or other distribution, recapitalization or similar event
with respect to the foregoing; provided, however, that any such Registrable Securities shall cease to be Registrable Securities
(and the Company shall not be required to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect
thereto) for so long as (a) a Registration Statement with respect to the sale of such Registrable Securities is declared effective by
the Commission under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with such effective
Registration Statement, (b) such Registrable Securities have been previously sold in accordance with Rule 144, or (c) such securities
become eligible for resale without volume or manner-of-sale restrictions and without current public information pursuant to Rule 144
as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer Agent and the affected Holders
(assuming that such securities and any securities issuable upon exercise, conversion or exchange of which, or as a dividend upon which,
such securities were issued or are issuable, were at no time held by any Affiliate of the Company), as reasonably determined by the Company,
upon the advice of counsel to the Company.

 

“Registration
Statement” means any registration statement required to be filed hereunder pursuant to Section 2(a) and any additional registration
statements contemplated by Section 2(c) or Section 3(c), including (in each case) the Prospectus, amendments and supplements to any such
registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated
by reference or deemed to be incorporated by reference in any such registration statement.

 

“Rule
415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Selling
Stockholder Questionnaire” shall have the meaning set forth in Section 3(a).

 

“SEC
Guidance” means (i) any publicly-available written or oral guidance of the Commission staff, or any comments, requirements
or requests of the Commission staff and (ii) the Securities Act.

 

 2. Shelf Registration.

 

(a) Within
forty (40) days of closing, the Company shall prepare and file with the Commission a Registration Statement covering the resale of
all of the Registrable Securities that are not then registered on an effective Registration Statement for an offering to be made on
a continuous basis pursuant to Rule 415. Each Registration Statement filed hereunder shall be on Form S-1 (except if the
Company is not then eligible to register for resale the Registrable Securities on Form S-1, in which case such registration shall be
on another appropriate form in accordance herewith, subject to the provisions of Section 2(e)) and shall contain (unless otherwise
directed by at least 85% in interest of the Holders) substantially the “Plan of Distribution” attached hereto as Annex
A and substantially the “Selling Stockholder” section attached hereto as Annex B; provided, however,
that no Holder shall be required to be named as an “underwriter” without such Holder’s express prior written
consent. Subject to the terms of this Agreement, the Company shall use its best efforts to cause a Registration Statement filed
under this Agreement (including, without limitation, under Section 3(c)) to be declared effective under the Securities Act as
promptly as possible after the filing thereof, but in any event no later than the applicable Effectiveness Date, and shall use its
best efforts to keep such Registration Statement continuously effective under the Securities Act until the date that all Registrable
Securities covered by such Registration Statement (i) have been sold, thereunder or pursuant to Rule 144, or (ii) may be sold
without volume or manner-of-sale restrictions pursuant to Rule 144 and without the requirement for the Company to be in compliance
with the current public information requirement under Rule 144, as determined by the counsel to the Company pursuant to a written
opinion letter to such effect, addressed and acceptable to the Transfer Agent and the affected Holders (the “Effectiveness
Period”). The Company shall telephonically request effectiveness of a Registration Statement as of 5:00 p.m. (New York
City time) on a Trading Day. The Company shall immediately notify the Holders via facsimile or by e-mail of the effectiveness of a
Registration Statement on the same Trading Day that the Company telephonically confirms effectiveness with the Commission, which
shall be the date requested for effectiveness of such Registration Statement. The Company shall, by 9:30 a.m. (New York City time)
on the Trading Day after the effective date of such Registration Statement, file a final Prospectus with the Commission as required
by Rule 424. Failure to so notify the Holder within one (1) Trading Day of such notification of effectiveness or failure to file a
final Prospectus as foresaid shall be deemed an Event under Section 2(d). The Registration Statement must be effective within 80
days of its filing.

 

    	 

     

    

 

(d)
If: (i) the Registration Statement is not filed within fourty (40) days of closing, or if the Registration Statement does not become
effective within 80 days of its filing, the Company shall issue Holder an additional 50,360 Shares under the Stock Purchase Agreement
and 50,360 Warrants, as liquidated damages as Holder’s sole remedy hereunder.

 

 3. Registration Procedures.

 

In
connection with the Company’s registration obligations hereunder, the Company shall:

 

(a) Not
less than five (5) Trading Days prior to the filing of each Registration Statement and not less than two (2) Trading Days prior to the
filing of any related Prospectus or any amendment or supplement thereto (including any document that would be incorporated or deemed
to be incorporated therein by reference), the Company shall (i) furnish to each Holder copies of all such documents proposed to be filed,
which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the review of such Holders,
and (ii) cause its officers and directors, counsel and independent registered public accountants to respond to such inquiries as shall
be necessary, in the reasonable opinion of respective counsel to each Holder, to conduct a reasonable investigation within the meaning
of the Securities Act. The Company shall not file a Registration Statement or any such Prospectus or any amendments or supplements thereto
to which the Holders of a majority of the Registrable Securities shall reasonably object in good faith, provided that, the Company is
notified of such objection in writing no later than five (5) Trading Days after the Holders have been so furnished copies of a Registration
Statement or one (1) Trading Day after the Holders have been so furnished copies of any related Prospectus or amendments or supplements
thereto. Each Holder agrees to furnish to the Company a completed questionnaire in the form attached to this Agreement as Annex B
(a “Selling Stockholder Questionnaire”) on a date that is not less than two (2) Trading Days prior to the Filing
Date or by the end of the fourth (4th) Trading Day following the date on which such Holder receives draft materials in accordance
with this Section.

 

(b) (i)
Prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement and the Prospectus
used in connection therewith as may be necessary to keep a Registration Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration Statements in order to
register for resale under the Securities Act all of the Registrable Securities, (ii) cause the related Prospectus to be amended or supplemented
by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant
to Rule 424, (iii) respond as promptly as reasonably possible to any comments received from the Commission with respect to a Registration
Statement or any amendment thereto and provide as promptly as reasonably possible to the Holders true and complete copies of all correspondence
from and to the Commission relating to a Registration Statement (provided that, the Company shall excise any information contained therein
which would constitute material non-public information regarding the Company or any of its Subsidiaries), and (iv) comply in all material
respects with the applicable provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable
Securities covered by a Registration Statement during the applicable period in accordance (subject to the terms of this Agreement) with
the intended methods of disposition by the Holders thereof set forth in such Registration Statement as so amended or in such Prospectus
as so supplemented.

 

    	 

     

    

 

(c) If
during the Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the number of shares of Common Stock
then registered in a Registration Statement, then the Company shall file as soon as reasonably practicable, but in any case prior to
the applicable Filing Date, an additional Registration Statement covering the resale by the Holders of not less than the number of such
Registrable Securities.

 

(d) Notify
the Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses (iii) through (vi) hereof, be accompanied by
an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as reasonably possible (and,
in the case of (i)(A) below, not less than one (1) Trading Day prior to such filing) and (if requested by any such Person) confirm such
notice in writing no later than one (1) Trading Day following the day (i)(A) when a Prospectus or any Prospectus supplement or post-effective
amendment to a Registration Statement is proposed to be filed, (B) when the Commission notifies the Company whether there will be a “review”
of such Registration Statement and whenever the Commission comments in writing on such Registration Statement, and (C) with respect to
a Registration Statement or any post-effective amendment, when the same has become effective, (ii) of any request by the Commission or
any other federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional
information, (iii) of the issuance by the Commission or any other federal or state governmental authority of any stop order suspending
the effectiveness of a Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings
for that purpose, (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding
for such purpose, (v) of the occurrence of any event or passage of time that makes the financial statements included in a Registration
Statement ineligible for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration Statement,
Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as the case may be, it 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, in light of the circumstances under which they were made, not misleading, and (vi) of the occurrence or existence of any pending
corporate development with respect to the Company that the Company believes may be material and that, in the determination of the Company,
makes it not in the best interest of the Company to allow continued availability of a Registration Statement or Prospectus; provided,
however, that in no event shall any such notice contain any information which would constitute material, non-public information
regarding the Company or any of its Subsidiaries.

 

(e) Use
its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping or suspending the effectiveness
of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable
Securities for sale in any jurisdiction, at the earliest practicable moment.

 

(f) Furnish
to each Holder, without charge, at least one conformed copy of each such Registration Statement and each amendment thereto, including
financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference to the extent requested
by such Person, and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference)
promptly after the filing of such documents with the Commission, provided that any such item which is available on the EDGAR system (or
successor thereto) need not be furnished in physical form.

 

(g) Subject
to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by
each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any
amendment or supplement thereto, except after the giving of any notice pursuant to Section 3(d).

 

(h)
Prior to any resale of Registrable Securities by a Holder, use its commercially reasonable efforts to register or qualify or
cooperate with the selling Holders in connection with the registration or qualification (or exemption from the Registration or
qualification) of such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such
jurisdictions within the United States as any Holder reasonably requests in writing, to keep each registration or qualification (or
exemption therefrom) effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to
enable the disposition in such jurisdictions of the Registrable Securities covered by each Registration Statement, provided that the
Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified, subject the
Company to any material tax in any such jurisdiction where it is not then so subject or file a general consent to service of process
in any such jurisdiction.

 

    	 

     

    

 

(i) If
requested by a Holder, cooperate with such Holder to facilitate the timely preparation and delivery of certificates representing Registrable
Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free, to the extent permitted
by the Purchase Agreement, of all restrictive legends, and to enable such Registrable Securities to be in such denominations and registered
in such names as any such Holder may request.

 

(j) Upon
the occurrence of any event contemplated by Section 3(d), as promptly as reasonably possible under the circumstances taking into account
the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure
of such event, prepare a supplement or amendment, including a post-effective amendment, to a Registration Statement or a supplement to
the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document
so that, as thereafter delivered, neither a Registration Statement nor such Prospectus will contain an untrue statement of a material
fact or omit to state 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. If the Company notifies the Holders in accordance with clauses (iii) through (vi) of Section
3(d) above to suspend the use of any Prospectus until the requisite changes to such Prospectus have been made, then the Holders shall
suspend use of such Prospectus. The Company will use its best efforts to ensure that the use of the Prospectus may be resumed as promptly
as is practicable. The Company shall be entitled to exercise its right under this Section 3(j) to suspend the availability of a Registration
Statement and Prospectus, subject to the payment of partial liquidated damages otherwise required pursuant to Section 2(d), for a period
not to exceed 60 calendar days (which need not be consecutive days) in any 12-month period.

 

(k) Otherwise
use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission under the Securities Act and
the Exchange Act, including, without limitation, Rule 172 under the Securities Act, file any final Prospectus, including any supplement
or amendment thereof, with the Commission pursuant to Rule 424 under the Securities Act, promptly inform the Holders in writing if, at
any time during the Effectiveness Period, the Company does not satisfy the conditions specified in Rule 172 and, as a result thereof,
the Holders are required to deliver a Prospectus in connection with any disposition of Registrable Securities and take such other actions
as may be reasonably necessary to facilitate the registration of the Registrable Securities hereunder.

 

(l) The
Company shall use its best efforts to maintain eligibility for use of Form S-1 (or any successor form thereto) for the registration of
the resale of Registrable Securities.

 

(m) The
Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common Stock beneficially
owned by such Holder and, if required by the Commission, the natural persons thereof that have voting and dispositive control over the
shares. During any periods that the Company is unable to meet its obligations hereunder with respect to the registration of the Registrable
Securities solely because any Holder fails to furnish such information within three Trading Days of the Company’s request, any
liquidated damages that are accruing at such time as to such Holder only shall be tolled and any Event that may otherwise occur solely
because of such delay shall be suspended as to such Holder only, until such information is delivered to the Company.

 

    	 

     

    

 

4. Registration
Expenses. All fees and expenses incident to the performance of or compliance with, this Agreement by the Company shall be borne by
the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to
in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation, fees
and expenses of the Company’s counsel and independent registered public accountants) (A) with respect to filings made with the
Commission, (B) with respect to filings required to be made with any Trading Market on which the Common Stock is then listed for trading,
and (C) in compliance with applicable state securities or Blue Sky laws reasonably agreed to by the Company in writing (including, without
limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications or exemptions of the Registrable
Securities), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities), (iii)
messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Company, (v) Securities Act liability insurance,
if the Company so desires such insurance, and (vi) fees and expenses of all other Persons retained by the Company in connection with
the consummation of the transactions contemplated by this Agreement. In addition, the Company shall be responsible for all of its internal
expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation,
all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit and the
fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder.
In no event shall the Company be responsible for any broker or similar commissions of any Holder or, except to the extent provided for
in the Transaction Documents, any legal fees or other costs of the Holders.

 

 5. Indemnification.

 

(a) Indemnification
by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder, the
officers, directors, members, partners, agents, brokers (including brokers who offer and sell Registrable Securities as principal as
a result of a pledge or any failure to perform under a margin call of Common Stock), investment advisors and employees (and any other
Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or any other title)
of each of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) and the officers, directors, members, stockholders, partners, agents and employees (and any other Persons with a functionally
equivalent role of a Person holding such titles, notwithstanding a lack of such title or any other title) of each such controlling Person,
to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including,
without limitation, reasonable attorneys’ fees) and expenses (collectively, “Losses”), as incurred, arising
out of or relating to (1) any untrue or alleged untrue statement of a material fact contained in a Registration Statement, any Prospectus
or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to
any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the
case of any Prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading or (2) any violation
or alleged violation by the Company of the Securities Act, the Exchange Act or any state securities law, or any rule or regulation thereunder,
in connection with the performance of its obligations under this Agreement, except to the extent, but only to the extent, that (i) such
untrue statements or omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder
expressly for use therein, or to the extent that such information relates to such Holder or such Holder’s proposed method of distribution
of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use in a Registration Statement,
such Prospectus or in any amendment or supplement thereto (it being understood that the Holder has approved Annex A hereto for this purpose)
or (ii) in the case of an occurrence of an event of the type specified in Section 3(d)(iii)- (vi), the use by such Holder of an outdated,
defective or otherwise unavailable Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated,
defective or otherwise unavailable for use by such Holder and prior to the receipt by such Holder of the Advice contemplated in Section
6(c). The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding arising from or in connection
with the transactions contemplated by this Agreement of which the Company is aware. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of such indemnified person and shall survive the transfer of any Registrable Securities
by any of the Holders in accordance with Section 6(f).

 

    	 

     

    

 

(b) Indemnification
by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers, agents
and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange
Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest extent permitted by applicable law,
from and against all Losses, as incurred, to the extent arising out of or based solely upon: any untrue or alleged untrue statement of
a material fact contained in any Registration Statement, any Prospectus, or in any amendment or supplement thereto or in any preliminary
prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary
to make the statements therein (in the case of any Prospectus or supplement thereto, in light of the circumstances under which they were
made) not misleading (i) to the extent, but only to the extent, that such untrue statement or omission is contained in any information
so furnished in writing by such Holder to the Company expressly for inclusion in such Registration Statement or such Prospectus or (ii)
to the extent, but only to the extent, that such information relates to such Holder’s information provided in the Selling Stockholder
Questionnaire or the proposed method of distribution of Registrable Securities and was reviewed and expressly approved in writing by
such Holder expressly for use in a Registration Statement (it being understood that the Holder has approved Annex A hereto for this purpose),
such Prospectus or in any amendment or supplement thereto. In no event shall the liability of a selling Holder be greater in amount than
the dollar amount of the proceeds (net of all expenses paid by such Holder in connection with any claim relating to this Section 5 and
the amount of any damages such Holder has otherwise been required to pay by reason of such untrue statement or omission) received by
such Holder upon the sale of the Registrable Securities included in the Registration Statement giving rise to such indemnification obligation.

 

(c) Conduct
of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder
(an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the
“Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to assume the defence thereof, including
the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in connection
with defence thereof, provided that the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party
of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by
a court of competent jurisdiction (which determination is not subject to appeal or further review) that such failure shall have materially
and adversely prejudiced the Indemnifying Party.

 

An
Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defence thereof, but
the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party
has agreed in writing to pay such fees and expenses, (2) the Indemnifying Party shall have failed promptly to assume the defence of such
Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding, or (3) the named parties to
any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and counsel to
the Indemnified Party shall reasonably believe that a material conflict of interest is likely to exist if the same counsel were to represent
such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing
that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to
assume the defence thereof and the reasonable fees and expenses of no more than one separate counsel shall be at the expense of the Indemnifying
Party). The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which
consent shall not be unreasonably withheld or delayed. No Indemnifying Party shall, without the prior written consent of the Indemnified
Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes
an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding.

 

Subject
to the terms of this Agreement, all reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses to
the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section)
shall be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice thereof to the Indemnifying Party, provided
that the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses applicable to such
actions for which such Indemnified Party is finally determined by a court of competent jurisdiction (which determination is not subject
to appeal or further review) not to be entitled to indemnification hereunder.

 

    	 

     

    

 

(d) Contribution.
If the indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient to hold an Indemnified Party
harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid or payable by such Indemnified Party, in such
proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions,
statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such
Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including
any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made
by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party
as a result of any Losses shall be deemed to include, subject to the limitations set forth in this Agreement, any reasonable attorneys’
or other fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified
for such fees or expenses if the indemnification provided for in this Section was available to such party in accordance with its terms.

 

The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately
preceding paragraph. In no event shall the contribution obligation of a Holder of Registrable Securities be greater in amount than the
dollar amount of the proceeds (net of all expenses paid by such Holder in connection with any claim relating to this Section 5 and the
amount of any damages such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission
or alleged omission) received by it upon the sale of the Registrable Securities giving rise to such contribution obligation.

 

The
indemnity and contribution agreements contained in this Section are in addition to any liability that the Indemnifying Parties may have
to the Indemnified Parties.

 

 6. Miscellaneous.

 

(a) Remedies.
In the event of a breach by the Company or by a Holder of any of their respective obligations under this Agreement, each Holder or the
Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including
recovery of damages, shall be entitled to specific performance of its rights under this Agreement. Each of the Company and each Holder
agrees that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the
provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach,
it shall not assert or shall waive the defence that a remedy at law would be adequate. Notwithstanding anything to the contrary, Holder
shall only be entitled to and additional 53,957 shares of Stock and 53,957 Warrants, in the event that the Registration Statement is
not filed within forty (40) days of closing or not effective within eighty (80) days from its filing.

 

(b) Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing and signed by
the Company and the Holders of 50.1% or more of the then outstanding Registrable Securities (for purposes of clarification, this includes
any Registrable Securities issuable upon exercise or conversion of any Security), provided that, if any amendment, modification or waiver
disproportionately and adversely impacts a Holder (or group of Holders), the consent of such disproportionately impacted Holder (or group
of Holders) shall be required. If a Registration Statement does not register all of the Registrable Securities pursuant to a waiver or
amendment done in compliance with the previous sentence, then the number of Registrable Securities to be registered for each Holder shall
be reduced pro rata among all Holders and each Holder shall have the right to designate which of its Registrable Securities shall be
omitted from such Registration Statement. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with
respect to a matter that relates exclusively to the rights of a Holder or some Holders and that does not directly or indirectly affect
the rights of other Holders may be given only by such Holder or Holders of all of the Registrable Securities to which such waiver or
consent relates; provided, however, that the provisions of this sentence may not be amended, modified, or supplemented
except in accordance with the provisions of the first sentence of this Section 6(d). No consideration shall be offered or paid to any
Person to amend or consent to a waiver or modification of any provision of this Agreement unless the same consideration also is offered
to all of the parties to this Agreement.

 

    	 

     

    

 

(c) Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered as set forth
in the Purchase Agreement.

 

(d) Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the
parties and shall inure to the benefit of each Holder. The Company may not assign (except by merger) its rights or obligations hereunder
without the prior written consent of all of the Holders of the then outstanding Registrable Securities. Each Holder may assign their
respective rights hereunder in the manner and to the Persons as permitted under the Purchase Agreement.

 

(e) No
Inconsistent Agreements. Neither the Company nor any of its Subsidiaries has entered, as of the date hereof, nor shall the Company
or any of its Subsidiaries, on or after the date of this Agreement, enter into any agreement with respect to its securities, that would
have the effect of impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. Except
as set forth on Schedule 6(i), neither the Company nor any of its Subsidiaries has previously entered into any agreement granting
any registration rights with respect to any of its securities to any Person that have not been satisfied in full.

 

(f) Execution
and Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party,
it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e- mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.

 

(g) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined in
accordance with the provisions of the Purchase Agreement.

 

(h) Cumulative
Remedies. The remedies provided herein are cumulative and not exclusive of any other remedies provided by law.

 

(i) Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force
and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts
to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.

 

(j) Headings.
The headings in this Agreement are for convenience only, do not constitute a part of the Agreement and shall not be deemed to limit or
affect any of the provisions hereof.

 

(k) Independent
Nature of Holders’ Obligations and Rights. The obligations of each Holder hereunder are several and not joint with the obligations
of any other Holder hereunder, and no Holder shall be responsible in any way for the performance of the obligations of any other Holder
hereunder. Nothing contained herein or in any other agreement or document delivered at any closing, and no action taken by any Holder
pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership, an association, a joint venture or any other
kind of group or entity, or create a presumption that the Holders are in any way acting in concert or as a group or entity with respect
to such obligations or the transactions contemplated by this Agreement or any other matters, and the Company acknowledges that the Holders
are not acting in concert or as a group, and the Company shall not assert any such claim, with respect to such obligations or transactions.
Each Holder shall be entitled to protect and enforce its rights, including without limitation the rights arising out of this Agreement,
and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such purpose. The use of
a single agreement with respect to the obligations of the Company contained was solely in the control of the Company, not the action
or decision of any Holder, and was done solely for the convenience of the Company and not because it was required or requested to do
so by any Holder. It is expressly understood and agreed that each provision contained in this Agreement is between the Company and a
Holder, solely, and not between the Company and the Holders collectively and not between and among Holders.

 

    	 

     

    

 

********************

 

(Signature
Pages Follow)

 

    	 

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first written above.

 

	 	VINCO
    VENTURES, INC.
	 	 	 
	 	By:	
	 	Name:	Chris
    Ferguson
	 	Title:	Chief
    Executive Officer

 

[SIGNATURE
PAGE OF HOLDERS FOLLOWS]

 

    	 

     

    

 

[SIGNATURE
PAGE OF HOLDERS TO REGISTRATION RIGHTS AGREEMENT]

 

    	 

     

    

 

Annex
A

 

Plan
of Distribution

 

Each
Selling Stockholder (the “Selling Stockholders”) of the securities and any of their pledgees, assignees and successors-in-interest
may, from time to time, sell any or all of their securities covered hereby on the principal Trading Market or any other stock exchange,
market or trading facility on which the securities are traded or in private transactions. These sales may be at fixed or negotiated prices.
A Selling Stockholder may use any one or more of the following methods when selling securities:

 

	 	●	ordinary
    brokerage transactions and transactions in which the broker-dealer solicits purchasers;
	 	 	 
	 	●	block
    trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion of the block
    as principal to facilitate the transaction;
	 	 	 
	 	●	purchases
    by a broker-dealer as principal and resale by the broker-dealer for its account;
	 	 	 
	 	●	an
    exchange distribution in accordance with the rules of the applicable exchange;
	 	 	 
	 	●	privately
    negotiated transactions;
	 	 	 
	 	●	settlement
    of short sales;
	 	 	 
	 	●	in
    transactions through broker-dealers that agree with the Selling Stockholders to sell a specified number of such securities at a stipulated
    price per security;
	 	 	 
	 	●	through
    the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;
	 	 	 
	 	●	a
    combination of any such methods of sale; or
	 	 	 
	 	●	any
    other method permitted pursuant to applicable law.

 

The
Selling Stockholders may also sell securities under Rule 144 or any other exemption from registration under the Securities Act of 1933,
as amended (the “Securities Act”), if available, rather than under this prospectus.

 

Broker-dealers
engaged by the Selling Stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the Selling Stockholders (or, if any broker- dealer acts as agent for the purchaser of securities, from the purchaser)
in amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction not in
excess of a customary brokerage commission in compliance with FINRA Rule 2121; and in the case of a principal transaction a markup or
markdown in compliance with FINRA Rule 2121.

 

In
connection with the sale of the securities or interests therein, the Selling Stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they
assume. The Selling Stockholders may also sell securities short and deliver these securities to close out their short positions, or loan
or pledge the securities to broker-dealers that in turn may sell these securities. The Selling Stockholders may also enter into option
or other transactions with broker-dealers or other financial institutions or create one or more derivative securities which require the
delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer
or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

 

The
Selling Stockholders and any broker-dealers or agents that are involved in selling the securities may be deemed to be “underwriters”
within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act. Each Selling Stockholder has informed the Company that it does not have any written or oral agreement or understanding,
directly or indirectly, with any person to distribute the securities.

 

    	 

     

    

 

The
Company is required to pay certain fees and expenses incurred by the Company incident to the registration of the securities. The Company
has agreed to indemnify the Selling Stockholders against certain losses, claims, damages and liabilities, including liabilities under
the Securities Act.

 

We
agreed to keep this prospectus effective until the earlier of (i) the date on which the securities may be resold by the Selling Stockholders
without registration and without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for
the Company to be in compliance with the current public information under Rule 144 under the Securities Act or any other rule of similar
effect or (ii) all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule
of similar effect. The resale securities will be sold only through registered or licensed brokers or dealers if required under applicable
state securities laws. In addition, in certain states, the resale securities covered hereby may not be sold unless they have been registered
or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is
complied with.

 

Under
applicable rules and regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously
engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M,
prior to the commencement of the distribution. In addition, the Selling Stockholders will be subject to applicable provisions of the
Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of the
common stock by the Selling Stockholders or any other person. We will make copies of this prospectus available to the Selling Stockholders
and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the sale (including
by compliance with Rule 172 under the Securities Act).

 

SELLING
SHAREHOLDERS

 

The
common stock being offered by the selling shareholders are those previously issued to the selling shareholders, and those issuable to
the selling shareholders, upon exercise of the warrants. For additional information regarding the issuances of those shares of common
stock and warrants, see “Private Placement of Shares of Common Stock and Warrants” above. We are registering the shares of
common stock in order to permit the selling shareholders to offer the shares for resale from time to time. Except for the ownership of
the shares of common stock and the warrants, the selling shareholders have not had any material relationship with us within the past
three years.

 

The
table below lists the selling shareholders and other information regarding the beneficial ownership of the shares of common stock by
each of the selling shareholders. The second column lists the number of shares of common stock beneficially owned by each selling shareholder,
based on its ownership of the shares of common stock and warrants, as of July 23, 2021, assuming exercise of the warrants held by the
selling shareholders on that date, without regard to any limitations on exercises.

 

The
third column lists the shares of common stock being offered by this prospectus by the selling shareholders.

 

In
accordance with the terms of a registration rights agreement with the selling shareholders, this prospectus generally covers the resale
of the sum of (i) the number of shares of common stock issued to the selling shareholders in the “Private Placement of Shares of
Common Stock and Warrants” described above and (ii) the maximum number of shares of common stock issuable upon exercise of the
related warrants, determined as if the outstanding warrants were exercised in full as of the trading day immediately preceding the date
this registration statement was initially filed with the SEC, each as of the trading day immediately preceding the applicable date of
determination and all subject to adjustment as provided in the registration right agreement, without regard to any limitations on the
exercise of the warrants. The fourth column assumes the sale of all of the shares offered by the selling shareholders pursuant to this
prospectus.

 

Under
the terms of the warrants, a selling shareholder may not exercise the warrants to the extent such exercise would cause such selling shareholder,
together with its affiliates and attribution parties, to beneficially own a number of shares of common stock which would exceed 4.99%
of our then outstanding common stock following such exercise, excluding for purposes of such determination shares of common stock issuable
upon exercise of the warrants which have not been exercised. The number of shares in the second column does not reflect this limitation.
The selling shareholders may sell all, some or none of their shares in this offering.Exhibit 10.1

 

	CERTAIN
  IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE
  REGISTRANT IF PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED.

 

 

 

LNG SALE AND PURCHASE AGREEMENT 1

 

by and between

 

DRIFTWOOD LNG LLC

 

(Seller)

 

and

 

SHELL NA LNG LLC

 

(Buyer)

 

dated as of July 29, 2021

 

 

     

     

    

 

TABLE OF CONTENTS

 

Page

 

	1.	Definitions and Interpretation	1
	 	 	 
		1.1	Definitions	1
		1.2	Interpretation	17
		1.3	Replacement of Rates and Indices No Longer Available	18
	 	 	 	 
	2.	Approvals	20
	 	 	 
		2.1	Approvals	20
		2.2	Change in Export Laws	20
		2.3	Conditions Precedent	21
	 	 	 	 
	3.	Subject Matter	22
	 	 	 
		3.1	Sale and Purchase of LNG	22
	 	 	 	 
	4.	Term	23
	 	 	 
		4.1	Term	23
		4.2	Date of First Commercial Delivery	23
		4.3	Notification of Date of First Commercial Delivery	23
		4.4	Delayed Date of First Commercial Delivery	25
		4.5	Contract Year	26
	 	 	 	 
	5.	Quantities	26
	 	 	 
		5.1	ACQ	26
		5.2	Adjusted Annual Contract Quantity	27
		5.3	Seasonal Deliveries	27
		5.4	Round-Up/Round-Down Quantities	27
		5.5	Major Scheduled Maintenance	28
		5.6	Seller’s Delivery Obligation	28
		5.7	Buyer’s Purchase Obligation	30
	 	 	 	 
	6.	Delivery Point, Title and Risk, Destination	31
	 	 	 
		6.1	Delivery Point	31
		6.2	Title and Risk	32
		6.3	Destination	32
	 	 	 	 
	7.	Transportation and Loading	32
	 	 	 
		7.1	Transportation by Buyer	32
		7.2	Driftwood LNG Terminal	32
		7.3	Compatibility of the Driftwood LNG Terminal with LNG Tankers	33
		7.4	Buyer Inspection Rights in Respect of the Driftwood LNG Terminal	34
		7.5	LNG Tankers	34
		7.6	LNG Tanker Inspections; LNG Tanker Vetting Procedures; Right to Reject LNG Tanker	37
		7.7	Port Liability Agreement	38
		7.8	Driftwood Marine Operations Manual	39
		7.9	Loading of LNG Tankers	39

 

    i 

     

    

 

		7.10	Notice of Readiness	40
		7.11	Berthing Assignment	41
		7.12	Berth Laytime	42
		7.13	LNG Tanker Not Ready for LNG Loading; Excess Laytime	44
		7.14	LNG Loadings at the Driftwood LNG Terminal	45
		7.15	Cooperation	46
		7.16	Cool-Down of LNG Tankers	46
		7.17	Gas-Up of LNG Tankers	47
	 	 	 
	8.	Annual Delivery Program	49
	 	 
		8.1	Programming Information	49
		8.2	Determination of Annual Delivery Program	50
		8.3	Changes to Annual Delivery Program	52
		8.4	Ninety Day Schedule	53
		8.5	Alternative LNG Tanker	53
	 	 	 
	9.	Contract Sales Price	53
	 	 
		9.1	Contract Sales Price	53
	 	 	 
	10.	Invoicing and Payment	55
	 	 
		10.1	Invoices	55
		10.2	Payment	56
		10.3	Disputed Invoice	57
		10.4	Delay in Payment	58
		10.5	Audit Rights	58
	 	 	 
	11.	Taxes	 	59
	 	 
		11.1	Responsibility	59
		11.2	Seller Taxes	59
		11.3	Buyer Taxes	59
		11.4	Withholding Taxes	60
		11.5	Transfer Taxes	60
		11.6	Mitigation and Cooperation	60
		11.7	Refunds	61
	 	 	 
	12.	Quality and Emissions Reporting	61
	 	 
		12.1	Specification	61
		12.2	Determining LNG Specifications	62
		12.3	Off-Specification LNG	62
		12.4	Emissions	64
	 	 	 
	13.	Measurements and Tests	64
	 	 
		13.1	LNG Measurement and Tests	64
		13.2	Parties to Supply Devices	64
		13.3	Selection of Devices	65
		13.4	Tank Gauge Tables of LNG Tanker	65
		13.5	Gauging and Measuring LNG Volumes Loaded	65
		13.6	Samples for Quality Analysis	65
		13.7	Quality Analysis	65
		13.8	Operating Procedures	65

 

    ii 

     

    

 

		13.9	MMBtu Quantity Delivered	66
		13.10	Verification of Accuracy and Correction for Error	66
		13.11	Costs and Expenses	66
	 	 	 	 
	14.	Force Majeure and Upstream FM	67
	 	 	 
		14.1	Force Majeure	67
		14.2	Limitations on Force Majeure	68
		14.3	Upstream FM	70
		14.4	Notification	72
		14.5	Measures	73
		14.6	No Extension of Term	73
		14.7	Settlement of Industrial Disturbances	73
		14.8	Foundation Customer Priority	73
	 	 	 	 
	15.	Liabilities and Indemnification	73
	 	 	 
		15.1	General	73
		15.2	Limitations on Liability	74
		15.3	Buyer’s Credit; Credit Support	76
		15.4	Third Party Liability	77
		15.5	Seller’s Insurance	78
		15.6	Buyer’s Insurance	79
	 	 	 	 
	16.	Safety	 	79
	 	 	 	 
		16.1	General	79
		16.2	Third Parties	79
	 	 	 	 
	17.	Exchange of Information	79
	 	 	 
	18.	Confidentiality	80
	 	 	 
		18.1	Duty of Confidentiality	80
		18.2	Permitted Disclosures	80
		18.3	Confidential Information Remedy	82
		18.4	Duration of Confidentiality	82
	 	 	 	 
	19.	Default and Termination	82
	 	 	 
		19.1	Right to Suspend Performance	82
		19.2	Termination Events	83
		19.3	Termination	84
		19.4	Rights Accrued Prior to Termination	86
		19.5	Final Reconciliation	86
		19.6	Survival	86
	 	 	 	 
	20.	Dispute Resolution and Governing Law	86
	 	 	 
		20.1	Dispute Resolution	86
		20.2	Expert Determination	89
		20.3	Governing Law	90
		20.4	Immunity	90
		20.5	Waiver of Jury Trial	91
	 	 	 	 
	21.	Successors; Assignments	91
	 	 	 
		21.1	Successors	91
		21.2	Assignment by Buyer	91

 

    iii 

     

    

 

		21.3	Assignments by Seller	92
		21.4	Seller, Tellurian Inc., Driftwood and Affiliate Financing	93
	 	 	 	 
	22.	Contract Language	96
	 	 	 
	23.	Miscellaneous	96
	 	 	 
		23.1	Disclaimer of Agency	96
		23.2	Entire Agreement	96
		23.3	Third Party Beneficiaries	96
		23.4	Amendments and Waiver	96
		23.5	Exclusion	97
		23.6	Further Assurances	97
		23.7	Severability	97
		23.8	Expenses	97
		23.9	Representations and Warranties of Buyer	97
		23.10	Representations and Warranties of Seller	98
		23.11	Counterparts	98
		23.12	Multiple SPAs	99
	 	 	 	 
	24.	Notices	100
	 	 	 
		24.1	Form of Notice	100
		24.2	Electronic Transmission	101
	 	 	 	 
	25.	Trade Law Compliance and Business Practices	102
	 	 	 
		25.1	Trade Law Compliance	102
		25.2	Prohibited Practices	103
		25.3	Records; Audit	104
		25.4	Representations and Warranties	105
		25.5	Indemnity	105
		25.6	Personal Data	105

 

	Exhibit A	Measurement
	Exhibit B	Form of Port Liability Agreement
	Exhibit C	Form of Guaranty

 

 

    iv 

     

    

 

LNG SALE AND PURCHASE AGREEMENT 1

 

THIS LNG SALE AND PURCHASE AGREEMENT 1
(“Agreement”) is made and entered into as of July 29, 2021 (the “Effective Date”), by and between
Driftwood LNG LLC, a limited liability company incorporated under the laws of Delaware whose principal place of business is located at
1201 Louisiana Street, Suite 3100, Houston, TX 77002 (USA) (“Seller”), and Shell NA LNG LLC, a limited liability company
incorporated under the laws of Delaware whose principal place of business is located at 1000 Main St., Level 12, Houston, TX 77002 (“Buyer”).
Buyer and Seller are each referred to herein as a “Party” and collectively as the “Parties”.

 

Recitals

 

		(1)	Seller is developing a liquefied natural gas (“LNG”) liquefaction terminal on the Calcasieu
River, south of Lake Charles, Louisiana, to comprise up to five Plants;

 

		(2)	Buyer desires to be engaged in the purchase of LNG at the Driftwood LNG Terminal and transportation of
such LNG to one or more Discharge Terminals; and

 

		(3)	Seller and Buyer desire to execute this definitive agreement setting out the Parties’ respective
rights and obligations in relation to the sale and purchase of LNG.

 

It is agreed:

 

		1.	Definitions and Interpretation

 

		1.1	Definitions

 

The words and expressions below shall,
unless the context otherwise requires, have the meanings respectively assigned to them:

 

	AAA:	as defined in Section 20.1.2;

 

	Acceptable Credit Rating:	at least one (1) Credit Rating that is equal to or better than any of the following: (i) Baa3 by Moody’s Investors Service, Inc.,
(ii) BBB- by S&P Global Ratings, a division of S&P Global Inc., (iii) BBB- by Fitch Ratings, Inc., or (iv) any comparable Credit
Ratings by any other nationally recognized statistical rating organizations registered with the U.S. Securities and Exchange Commission,
including any successors to Moody’s Investors Service, Inc., S&P Global Ratings, a division of S&P Global Inc., or Fitch
Ratings, Inc.;

 

	Acceptable Guarantor:	an Affiliate of Buyer that has an Acceptable Credit Rating or any other entity acceptable to Seller in its discretion;

 

    1 

     

    

 

	ACQ:	as defined in Section 5.1.1;

 

	Actual Laytime:	as defined in Section 7.12.2;

 

	Adjusted Annual Contract Quantity or AACQ:	as defined in Section 5.2;

 

	Adverse Weather Conditions:	weather or sea conditions actually experienced or reasonably forecasted at or near the Driftwood LNG Terminal that are sufficiently severe:
(i) to prevent an LNG Tanker from proceeding to berth, or loading or departing from berth, in accordance with one or more of the following:
(a) regulations published by a Governmental Authority; (b) an Approval; or (c) an order of a Pilot; or (ii) to cause an actual determination
by the master of an LNG Tanker that it is unsafe for such LNG Tanker to berth, load, or depart from berth;

 

	Affiliate:	with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries
controls, is controlled by or is under common control with such Person; for purposes of this definition, “control” (including,
with correlative meanings, the terms “controlled by” and “under common control with”) means the direct or indirect
ownership of fifty percent (50%) or more of the voting rights in a Person or the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or
otherwise;

 

	Agreement:	this agreement, including the Exhibits hereto, as the same may be amended, modified or replaced from time
to time;

 

	Allotted Laytime:	as defined in Section 7.12.1;

 

	Allowed Laytime:	as defined in Section 7.13.2(a);

 

	Alternative LNG Tanker:	as defined in Section 8.5;

 

	Annual Delivery Program or ADP:	as defined in Section 8.2.4;

 

	Anti-Corruption Law:	any of the U.S. Foreign Corrupt Practices Act, the OECD convention on anti-bribery, the U.K. Bribery Act of 2010, E.U. and E.U. member
country anti-bribery and corruption laws, and any other law prohibiting corruption, tax evasion, money laundering, or otherwise dealing
in the proceeds of crime, or similar statute, regulation, order or convention binding on the applicable Person, as each may be amended
from time to time, and including any implementing regulations promulgated pursuant thereto;

 

    2 

     

    

 

	Applicable Laws: 	in relation to matters covered by this Agreement, all applicable laws, statutes, rules, regulations, ordinances, codes, standards and
rules of common law, and judgments, decisions, interpretations, orders, directives, injunctions, writs, decrees, stipulations, or awards
of any applicable Governmental Authority or duly authorized official, court or arbitrator thereof, in each case, now existing or which
may be enacted or issued after the Effective Date;

 

	Approvals:	any and all permits (including work permits), franchises, authorizations, approvals, grants, licenses,
visas, waivers, exemptions, consents, permissions, registrations, decrees, privileges, variances, validations, confirmations or orders
granted by or filed with any Governmental Authority, including the Export Authorizations;

 

	Assessment Period:	as defined in Section 9.1.1;

 

	Bankruptcy Event:	with respect to any Person: (i) such Person’s suspension of payment of, or request to any court for a moratorium on payment of,
all or a substantial part of such Person’s debts, (ii) such Person’s making of a general assignment, compromise or any composition
with or for the benefit of its creditors except to the extent otherwise permitted by Section 21, (iii) any petition or filing under
the bankruptcy or other insolvency laws of any jurisdiction, or consent by answer by such Person to the filing against it, seeking relief
or reorganization or arrangement (by way of voluntary arrangement, scheme of arrangement or otherwise) or any other similar petition
or filing in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar
law of any jurisdiction, (iv) any order or filing under the laws of any jurisdiction seeking the winding up, bankruptcy, liquidation,
dissolution, custodianship or administration of such Person or any substantial part of such Person’s property, (v) any order under
the bankruptcy or insolvency laws of any jurisdiction: (a) constituting an order for relief with respect to such Person; (b) approving
a petition for relief or reorganization or any other petition in bankruptcy or insolvency law with respect to such Person; or (c) approving
any petition filed in bankruptcy or insolvency law against such Person, or (vi) the appointment of a liquidator, receiver, administrative
receiver, administrator, compulsory manager or other similar officer in respect of such Person or any substantial part of such Person’s
property;

 

    3 

     

    

 

	Btu:	the amount of heat equal to one thousand fifty-five decimal zero five six (1,055.056) Joules;

 

	Business Day:	any Day (other than Saturdays, Sundays and national holidays in the United States of America) on which commercial banks are normally
open to conduct business in New York;

 

	Buyer:	as defined in the Preamble;

 

	Buyer Aggregate Liability:	as defined in Section 15.2.7(b);

 

	Buyer Liability Cap:	as defined in Section 15.2.7(c);

 

	Buyer Taxes:	as defined in Section 11.3;

 

	Cargo DoP Payment:	as defined in Section 5.6.2;

 

	Cargo DoP Quantity:	as defined in Section 5.6.2;

 

	Cargo Shortfall Payment:	as defined in Section 5.7.3;

 

	Cargo Shortfall Quantity:	as defined in Section 5.7.2;

 

	Claim:	all claims, demands, legal proceedings, or actions that may exist, arise, or be threatened currently or
in the future at any time following the Effective Date, whether or not of a type contemplated by any Party, and whether based on federal,
state, local, statutory or common law or any other Applicable Law;

 

    4 

     

    

 

	Commercially Operable: 	(i) in respect of a Plant, the Plant (a) has been commissioned, (b) is, as determined by Seller acting as a Reasonable and Prudent Operator,
capable of delivering LNG reliably in quantities sufficient and quality necessary to permit Seller to perform its obligations hereunder
and its obligations in respect of such Plant to every other Foundation Customer that has an LNG sale and purchase agreement in which
Seller’s obligation to make available a certain quantity of LNG to such Driftwood Buyer is conditioned upon the start-up of such
Plant, in a sustained manner and (c) is constructed in compliance with Section 7.2.2; and (ii) in respect of the Driftwood Pipeline,
the Driftwood Pipeline is in service and is capable of transporting quantities of Gas to the Driftwood LNG Terminal at least equal to
the design capacity of the Driftwood Pipeline and in quality necessary to permit Seller to perform its obligations hereunder;

 

	Composite ADP:	as defined in Section 8.2.5;

 

	Composite Ninety Day Schedule:	as defined in Section 8.4.2;

 

	Condition Precedent:	as defined in Section 2.3.1;

 

	Confidential Information:	as defined in Section 18.1;

 

	Connecting Pipeline:	any Gas pipeline directly interconnected with Driftwood LNG Terminal, including the Driftwood Pipeline;

 

	Contract Year:	as defined in Section 4.5;

 

	CP Deadline:	as defined in Section 2.3.3;

 

	CP Fulfillment Date:	as defined in Section 2.3.2;

 

	Credit Rating:	a credit rating in respect of the senior, unsecured, long-term debt (not supported by third-party credit enhancement);

 

	CSP:	as defined in Section 9.1.1;

 

	Date of First Commercial Delivery:	as defined in Section 4.2;

 

    5 

     

    

 

	Day:	a period of twenty-four (24) consecutive hours starting at 00:00 hours local time in Calcasieu Parish,
Louisiana;

 

	Delivery Point:	as defined in Section 6.1;

 

	Delivery Window:	a twenty-four (24) hour period starting at 6:00 a.m. Central Time on a specified Day and ending twenty-four (24) consecutive hours thereafter
that is allocated to Buyer under the ADP or Ninety Day Schedule, as applicable;

 

	Demurrage Event:	as defined in Section 7.12.3;

 

	Direct Agreement:	as defined in Section 21.4.2;

 

	Discharge Terminal:	with respect to each cargo of LNG taken or scheduled to be taken by Buyer pursuant to this Agreement, the facilities intended by Buyer
to be utilized for the unloading, reception, discharge, storage, treatment (if necessary), and regasification of the LNG and the processing
and send-out of Gas or regasified LNG, and other relevant infrastructure, including marine facilities (such as breakwaters and tugs)
for the safe passage to berth of LNG Tankers, terminal facilities for the berthing and discharging of LNG Tankers, LNG storage tanks
and the regasification plant;

 

	Dispute:	any dispute or difference of whatsoever nature arising under, out of, in connection with or in relation
(in any manner whatsoever) to this Agreement or the subject matter of this Agreement, including (a) any dispute or difference concerning
the initial or continuing existence of this Agreement or any provision of it, or as to whether this Agreement or any provision of it is
invalid, illegal or unenforceable (whether initially or otherwise); or (b) any dispute or claim which is ancillary or connected,
in each case in any manner whatsoever, to the foregoing;

 

	Driftwood:	Driftwood Holdings LP;

 

	Driftwood Buyer:	each Person that is a party to a long-term LNG sale and purchase agreement with Seller;

 

    6 

     

    

 

	Driftwood LNG Terminal:	the facilities that Seller intends to construct, own and operate (or have operated on its behalf) in CalcasieuParish, Louisiana, on the
Calcasieu River, including the Gas pretreatment and processing facilities, liquefaction facility, storage tanks, utilities, terminal
facilities, and associated port and marine facilities, and all other related facilities both inside and outside the LNG plant, inclusive
of up to the first five (5) Plants that Seller or its Affiliates or shareholders determines to construct;

 

	Driftwood Marine Operations Manual:	as defined in Section 7.8;

 

	Driftwood Pipeline:	that certain Gas pipeline(s) that Driftwood Pipeline LLC intends to construct, own and operate (or have operated on its behalf), and
which will interconnect the Driftwood LNG Terminal with other Gas pipelines;

 

	Effective Date:	as defined in the Preamble;

 

	Electronic Transmission:	any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved
and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a recipient through an automated process;

 

	EPC Contract:	that certain Lump Sum Turnkey Agreement for the Engineering, Procurement and Construction of the Driftwood LNG Phase 1 Liquefaction Facility,
between Seller and Bechtel Oil, Gas and Chemicals, Inc., dated November 10, 2017;

 

	ETA:	with respect to an LNG Tanker, the estimated time of arrival of such LNG Tanker at the PBS;

 

	EUR:	the lawful currency from time to time of the European Union;

 

	Expert:	a Person agreed upon or appointed in accordance with Section 20.2.1;

 

	Export Authorizations:	as defined in Section 2.1;

 

	Export Control and Sanctions Laws:	export control and sanctions laws and regulations of the United States of America, including the Export Administration Regulations, 15
C.F.R. Parts 730 et seq., and economic sanctions administered by the U.S. Department of the Treasury, Office of Foreign Assets Control
(OFAC), 31 C.F.R. Part 500 et seq.;

 

    7 

     

    

 

	Fifth Window Period:	as defined in Section 4.3.5;

 

	Final Contract Year:	as defined in Section 4.5(b);

 

	Final Window Period:	as defined in Section 4.3.6;

 

	First Contract Year:	as defined in Section 4.5(a);

 

	First DFCD:	the first Date of First Commercial Delivery to occur under this Agreement in respect of Plant 1 or Plant 2;

 

	First Window Period:	as defined in Section 4.3.1;

 

	Force Majeure:	as defined in Section 14.1;

 

	Foundation Customer:	(i) Buyer and (ii) any customer of Seller that enters into an LNG sale and purchase agreement for the purchase and export of no less
than one (1) million metric tonnes per annum of LNG from the Driftwood LNG Terminal, with a minimum LNG supply period of ten (10) years;

 

	Foundation Customer Priority:	as defined in Section 14.8;

 

	Fourth Window Period:	as defined in Section 4.3.4;

 

	FTA Export Authorization:	an order from the Office of Fossil Energy of the U.S. Department of Energy granting to Seller, its direct or indirect LNG supplier or
any other Person acting as agent on behalf of Seller or such LNG supplier the authorization to export LNG delivered pursuant to this
Agreement (or pursuant to an LNG supply or tolling agreement with such LNG supplier) by vessel from the Driftwood LNG Terminal to countries
that have entered into a free trade agreement with the United States of America requiring the national treatment for trade in natural
gas for a specific term, as the same may be supplemented, amended, modified, changed, superseded or replaced from time to time;

 

	Full Cargo Lot:	the quantity of LNG which fills the LNG Tanker to the fullest extent that such LNG Tanker can safely load and carry;

 

    8 

     

    

 

	Gas:	any hydrocarbon or mixture of hydrocarbons consisting predominantly of methane that is in a gaseous state;

 

	Gas Reserves:	Gas reserves which are owned by Seller or its Affiliates;

 

	Governmental Authority:	any national, regional, state, or local government, or any subdivision, agency, commission or authority thereof (including any maritime
authorities, port authority or any quasi-governmental agency), having jurisdiction over a Party (or any Affiliate or direct or indirect
owner thereof), a Connecting Pipeline, Gas in a Connecting Pipeline or the Driftwood LNG Terminal, the Driftwood LNG Terminal, LNG in
the Driftwood LNG Terminal, an LNG Tanker, LNG or Gas in an LNG Tanker, a Transporter, the last disembarkation port of an LNG Tanker,
or a Discharge Terminal, or any Gas pipeline which Seller or its Affiliate has contracted capacity on, which interconnects with a Connecting
Pipeline, as the case may be, and acting within its legal authority;

 

	Gross Heating Value:	the quantity of heat expressed in Btu produced by the complete combustion in air of one (1) cubic foot of anhydrous gas, at a temperature
of sixty (60) degrees Fahrenheit and at an absolute pressure of fourteen decimal six nine six (14.696) pounds per square inch, with the
air at the same temperature and pressure as the gas, after cooling the products of the combustion to the initial temperature of the gas
and air, and after condensation of the water formed by combustion;

 

	Guarantor:	any Acceptable Guarantor executing a Guaranty for delivery to Seller hereunder to the extent required
hereunder;

 

	Guaranty:	an irrevocable payment guaranty in respect of this Agreement executed by a Guarantor in favor of Seller,
which is substantially in the form attached as Exhibit C hereto;

 

	HH or Henry Hub:	as defined in Section 14.3.4;

 

	ICC:	as defined in Section 20.2.1;

 

	Indemnified Party:	as defined in Section 15.4(a);

 

    9 

     

    

 

	Indemnifying Party:	as defined in Section 15.4(a);

 

	International LNG Terminal Standards:	to the extent not inconsistent with the express requirements of this Agreement, the international standards and practices applicable
to the design, construction, equipment, operation or maintenance of LNG liquefaction terminals, established by the following (such standards
to apply in the following order of priority): (i) a Governmental Authority having jurisdiction over the Driftwood LNG Terminal, Driftwood,
the operator of the Driftwood LNG Terminal or Seller; (ii) the Society of International Gas Tanker and Terminal Operators (SIGTTO) (to
the extent applicable); (iii) the Oil Companies International Marine Forum (OCIMF) (to the extent applicable) and (iv) any other internationally
recognized non-governmental agency or organization with whose standards and practices it is customary for Reasonable and Prudent Operators
of LNG liquefaction terminals, to comply, provided, however, that in the event of a conflict between any of the priorities noted
above, the priority with the lowest roman numeral noted above shall prevail;

 

	International LNG Vessel Standards:	the standards and practices from time to time in force applicable to the ownership, design, equipment, operation or maintenance of LNG
vessels established by: (i) a Governmental Authority having jurisdiction over the LNG vessel in the Loading Port; (ii) the International
Maritime Organization (IMO); (iii) the classification society of the LNG vessel, provided such classification society is a member of
the International Association of Classification Societies Ltd. (IACS); (iv) the Oil Companies International Marine Forum (OCIMF);
(v) the Society of International Gas Tanker and Terminal Operators (SIGTTO); and (vi) any other internationally recognized agency or
non-governmental organization with whose standards and practices it is customary for Reasonable and Prudent Operators of LNG vessels
similar to those applicable to this Agreement, to comply, provided, however, that in the event of a conflict between any of the
priorities noted above, the priority with the lowest roman numeral noted above shall prevail;

 

    10 

     

    

 

	International Standards: 	(i) with respect to Buyer, the International LNG Vessel Standards; and (ii) with respect to Seller, the International LNG Terminal Standards;

 

	In-Transit Final Notice:	as defined in Section 7.9.3(d);

 

	In-Transit First Notice:	as defined in Section 7.9.2;

 

	In-Transit Fourth Notice:	as defined in Section 7.9.3(c);

 

	In-Transit Second Notice:	as defined in Section 7.9.3(a);

 

	In-Transit Third Notice:	as defined in Section 7.9.3(b);

 

	JKM:	as defined in Section 9.1.1;

 

	Lender:	any Person, other than a shareholder of Seller, duly authorized in its principal place of business to
lend monies, to finance or to provide financial support in any form in respect of the Driftwood LNG Terminal or any other facilities under
development by Seller, Driftwood or their respective Affiliates, including any commercial bank, export credit agency, funding agency,
bondholder, institutional investor, insurance company, underwriter, or similar institution in relation to the provision of finance or
financial support;

 

	Lenders’ Agent:	as defined in Section 21.4.1;

 

	Liquid Trading Point: 	any location referenced in Platts Gas Daily for the trading of physical Gas at such location;

 

	LNG:	Gas in a liquid state at or below its point of boiling and at or near atmospheric pressure;

 

	LNG Tanker(s):	an ocean-going vessel suitable for transporting LNG which complies with the requirements of this Agreement and which Buyer uses or causes
to be used, or intends to use or to be used, in connection with this Agreement;

 

	Loading Port:	the port where the Driftwood LNG Terminal is located, or the port at an alternate supply source pursuant to Section 3.1.2;

 

	Loss:	any and all losses, liabilities, damages, costs, judgments, settlements and expenses (whether or not resulting from Claims by Third Parties),
including interest and penalties with respect thereto and reasonable attorneys’ and accountants’ fees and expenses;

 

    11 

     

    

 

 

 

		M:	as defined in Section 9.1.1;

 

		Major Scheduled Maintenance Quantity:	as defined
in Section 5.5;

 

		Measurement Dispute:	as defined
in Section 20.2.1;

 

		Mitigation Sale:	as defined
in Section 5.7.5;

 

		Mitigation Sale Payment:	as defined
in Section 5.7.6;

 

		MMBtu:	one million (1,000,000) Btus;

 

		Month:	each period of time which starts at 00:00 local time in Lake Charles, Louisiana, on the first Day of each
calendar month and ends at 24:00 local time in Lake Charles, Louisiana, on the last Day of the same calendar month;

 

		MWh:	megawatt hour;

 

		Ninety Day Schedule:	as defined
in Section 8.4.1;

 

		Non-FTA Export Authorization:	an order
from the Office of Fossil Energy of the U.S. Department of Energy granting to Seller, its direct or indirect LNG supplier or any other
Person acting as agent on behalf of Seller or such LNG supplier the authorization to export LNG delivered pursuant to this Agreement
(or pursuant to an LNG supply or tolling agreement with such LNG supplier) by vessel from the Driftwood LNG Terminal to countries that
have not entered into a free trade agreement with the United States of America requiring the national treatment for trade in natural
gas, which currently has or in the future develops the capacity to import LNG, and with which trade is not prohibited by United States
of America law or policy, for a specific term, as the same may be supplemented, amended, modified, changed, superseded or replaced from
time to time;

 

		Notice of Readiness or NOR:	the notice
of readiness issued by the master of an LNG Tanker or its agent in accordance with Section 7.10.1;

 

     12

     

    

 

		Off-Spec LNG:	as defined
in Section 12.3.1;

 

		Operational Tolerance:	as defined
in Section 5.6.3;

 

		P&I Club:	a Protection and
Indemnity Club that is a member of the International Group of P&I Clubs;

 

		P&I Insurance:	as defined in
Section 15.6(b);

 

		Party:	Buyer or Seller, and Parties means both Buyer and Seller;

 

		Payment Business Day: 	each Day
that is a Business Day on which commercial banks are normally open to conduct business in New York;

 

		Payor:	as defined in Section 11.4;

 

		PBS:	the customary Pilot boarding station at the Loading Port where the Pilot boards the LNG Tanker, as determined
by the applicable Governmental Authority or other entity with authority to regulate transit and berthing of vessels at the Loading Port;

 

		Person:	any individual, corporation, partnership, limited liability company, trust, unincorporated organization
or other legal entity, including any Governmental Authority;

 

		Pilot:	any Person engaged by Transporter to come on board the LNG Tanker to assist the master in pilotage, maneuvering,
berthing and unberthing of such LNG Tanker;

 

		Plant:	each of the LNG production plants to be constructed for the Driftwood LNG Terminal, up to the first five
plants (and collectively, the “Plants”), with an EPC contract guaranteed production capacity of four decimal eighty-two
(4.82) million metric tonnes per annum of LNG per Plant;

 

		Plant 1:	the LNG production
plant to be constructed at the Driftwood LNG Terminal pursuant to the EPC Contract that is described thereunder as “LNG Plant 1”;

 

		Plant 2:	the LNG production
plant to be constructed at the Driftwood LNG Terminal pursuant to the EPC Contract that is described thereunder as “LNG Plant 2”;

 

     13

     

    

 

		Platts Business Day:	as defined
in Section 9.1.1;

 

		Platts LNG Daily:	as defined
in Section 9.1.1;

 

		Port Charges:	all charges
of whatsoever nature (including rates, tolls, dues, fees, and imposts of every description) in respect of an LNG Tanker entering or leaving
the Loading Port or loading LNG, including wharfage fees, in-and-out fees, franchise fees, line handling charges, and charges imposed
by tugs, the United States Coast Guard, a port authority, a harbor master, a Pilot, and any other authorized Person assisting an LNG
Tanker to enter or leave the Loading Port, and further including port use fees, throughput fees and similar fees payable by users of
the Loading Port (or by Seller or the operator of the Driftwood LNG Terminal on behalf of such users);

 

		Port Liability Agreement:	an agreement
for use of the port and marine facilities located at the Loading Port, to be entered into as described in Section 7.7.1, in the
form attached in Exhibit B hereto as may be amended pursuant to Section 7.7.4;

 

		Preliminary AACQ:	as defined
in Section 5.4.1;

 

		Provisional Invoice:	as defined
in Section 10.1.7(a);

 

		Reasonable and Prudent Operator:	a Person
seeking in good faith to perform its contractual obligations, and in so doing, and in the general conduct of its undertaking, exercising
that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced
operator, complying with all applicable International Standards and practices and regulations and approvals of Governmental Authorities,
engaged in the same type of undertaking under the same or similar circumstances and conditions;

 

		Required Modification:	as defined
in Section 7.3.2;

 

		Round-Down Quantity:	as defined
in Section 5.4.3;

 

		Round-Up Quantity:	as defined
in Section 5.4.2;

 

     14

     

    

 

		SCF:	for Gas, the quantity of anhydrous Gas that occupies one (1) cubic foot of space at a temperature
of sixty (60) degrees Fahrenheit and a pressure of fourteen decimal six nine six (14.696) pounds per square inch absolute;

 

		Scheduled Cargo Quantity:	the quantity
of LNG (in MMBtus) identified in the ADP or Ninety Day Schedule to be loaded onto an LNG Tanker in a Delivery Window in accordance with
Section 8;

 

		Second DFCD:	the second
Date of First Commercial Delivery to occur under this Agreement in respect of Plant 1 or Plant 2;

 

		Second Window Period:	as defined
in Section 4.3.2;

 

		Seller:	as defined in the Preamble;

 

		Seller Aggregate Liability:	as defined
in Section 15.2.6(b);

 

		Seller Liability Cap:	as defined
in Section 15.2.6(c);

 

		Seller Taxes:	as defined
in Section 11.2;

 

		SI:	the International System of Units;

 

		SIRE:	Ship Inspection Report Programme;

 

		SIRE Accredited Inspector:	an inspector
qualified by the OCIMF to inspect an LNG Tanker for the purpose of generating an inspection report for inclusion in OCIMF’s Ship
Inspection Report Programme;

 

		SOFR:	the rate per annum equal to the period average for the period closest in duration to the late payment
period (but not exceeding ninety (90) Days) of the Secured Overnight Financing Rate published by the Federal Reserve Bank of New York
(https://www.newyorkfed.org/markets/reference-rates/sofr) at 8:00 am U.S. Eastern Time on the day that is two (2) Business Days prior
to the applicable payment due date; provided, that, (a) if there is no such publication on any such day, the rate shall be the
rate appearing at 8:00 am U.S. Eastern Time for the immediately preceding publication date, and (b) if SOFR, as calculated pursuant to
the foregoing, is negative, then it shall be deemed to be zero (0);

 

     15

     

    

 

		SPA	2:as defined in Section 23.12.1;

 

		Specifications:	as defined in Section 12.1;

 

		Stub	Quantity:as defined in Section 5.4.1;

 

		Taxes:	all taxes, levies, duties, charges, withholdings and all other assessments in the nature of a tax (but
excluding Port Charges), which may now or hereafter be enacted, levied or imposed, directly or indirectly, by a Governmental Authority,
including income, value added, goods and services, sales and use, gross receipts, license, payroll, environmental, profits, severance,
premium, franchise, property, ad valorem, excise, capital stock, import, stamp, transfer, withholding, employment, occupation, generation,
privilege, utility, regulatory, energy, consumption, lease, filing, recording and activity taxes, levies, duties, fees, charges, and imposts
and any taxes imposed by reference to energy value and/or carbon content (regardless of whether the quantum of the tax is calculated by
reference to energy value and/or carbon content or by reference to sums payable under this Agreement or otherwise), together with any
and all penalties, interest and additions thereto;

 

		Term:	as defined in Section 4.1.1;

 

		Terminating Party:	as defined
in Section 19.3.1;

 

		Termination Event:	as defined
in Section 19.2;

 

		Third Party:	a Person other
than a Party;

 

		Third Party Claim:	as defined
in Section 15.4(a);

 

		Third Window Period:	as defined
in Section 4.3.3;

 

		Threshold Quantity:	as defined
in Section 14.3.1;

 

		Tranche:	as defined in Section 5.3;

 

		Transfer Taxes:	as defined
in Section 11.5;

 

		Transporter:	any Person who contracts with Buyer (or any Person taking delivery, at the Driftwood LNG Terminal,
                                                                                of LNG sold to Buyer hereunder), for purposes
of providing or operating any of the LNG Tankers;

 

     16

     

    

 

		Upstream	Assets:any Gas Reserves; and any wells, wellbores
and related equipment, and the lands and premises on which such wells, wellbores and related equipment are located, and any production,
storage, transportation, processing, gathering, compression and other midstream facilities, and other similar hydrocarbon facilities,
that produce, store, transport, process, gather or compress Gas from time to time, that are owned or contracted by one or more of Seller’s
Affiliates, and to the extent which they are used in respect of Gas Reserves, but excluding any Connecting Pipeline;

 

		Upstream FM:	as defined
in Section 14.3.1;

 

		Upstream FM Cargo:	as defined
in Section 14.3.1; and

 

		USD or US$: 	the lawful currency
from time to time of the United States of America.

 

		1.2	Interpretation

 

For purposes of this Agreement:

 

		1.2.1	The titles, headings, and numbering in this Agreement are included for convenience only and will have
no effect on the construction or interpretation of this Agreement.

 

		1.2.2	References in this Agreement to Sections and Exhibits are to those of this Agreement unless otherwise
indicated. References to this Agreement and to agreements and contractual instruments will be deemed to include all exhibits, schedules,
appendices, annexes, and other attachments thereto and all subsequent amendments and other modifications to such instruments, to the extent
such amendments and other modifications are not prohibited by the terms of this Agreement.

 

		1.2.3	The word “include” or “including” will be deemed to be followed by “without
limitation.” The term “will” has the same meaning as “shall,” and thus imposes an obligation.

 

		1.2.4	Whenever the context so requires, the singular includes the plural and the plural includes the singular,
and the gender of any pronoun includes the other gender.

 

     17

     

    

 

		1.2.5	Unless otherwise indicated, references to any statute, regulation or other law will be deemed to refer
to such statute, regulation or other law as amended or any successor law.

 

		1.2.6	Unless otherwise indicated, references to a Person shall include such Person’s successors and permitted
assigns.

 

		1.2.7	Unless otherwise indicated, any reference to a time of Day shall be to Central Time in the United States
of America.

 

		1.2.8	Approximate conversions of any unit of measurement contained in parenthesis following the primary unit
of measurement included in Sections 1 through 25 of this Agreement are inserted as a matter of operational convenience only to show the
approximate equivalent in such different measurement. The obligations of the Parties under Sections 1 through 25 of this Agreement will
be undertaken in respect of the primary unit of measurement and not in respect of any such approximate conversion.

 

		1.3	Replacement of Rates and Indices No Longer Available

 

		1.3.1	Subject to Section 1.3.6, if (a) a publication that contains a rate or index used in this Agreement ceases
to be published for any reason or (b) such a rate or index ceases to exist, is materially modified, or no longer is used as a liquid trading
point for Gas or LNG (as applicable), so as systematically to change its economic result, or is disaggregated, displaced or abandoned,
for any reason, the Parties shall promptly discuss, with the aim of jointly selecting a rate or index or rates or indices to be used in
place of such rates and indices that maintains the intent and economic effect of those original rates or indices.

 

		1.3.2	If the Parties fail to agree on a replacement rate or index pursuant to Section 1.3.1 within thirty (30)
Days, either Party may submit such issue to an Expert pursuant to Section 20.2, as amended by the provisions of this Section 1.3.2.
Any Expert selected shall be instructed to select the published rate or index, or a combination of published rates or indices, with adjustments
as necessary or appropriate, that most nearly preserves the intent and economic result of the original rates or indices. If the Parties
are not able to agree upon an Expert within ten (10) Days after the receipt of the notice of request for expert determination, either
Party may elect to refer the determination of the replacement rate or index for arbitration in accordance with Section 20.1.

 

		1.3.3	If any rate used in this Agreement is not published for a particular date, but the publication containing
such rate continues to be published and the rate itself continues to exist, the Parties shall use the published rate in effect for the
date such rate was most recently published prior to the particular date, unless otherwise provided in this Agreement.

 

     18

     

    

 

		1.3.4	If any index used in this Agreement is not published for a particular date, but the publication containing
such index continues to be published and the index itself continues to exist, the Parties shall use the published index in effect for
the date such index was most recently published prior to the particular date, unless otherwise provided in this Agreement. If the index
is subsequently published for the particular date, such published index will be substituted for the previously-used index and any calculations
involving such index will be recalculated and the Parties will take any necessary actions based upon these revised calculations, including
adjustments of amounts previously invoiced or paid.

 

		1.3.5	If an incorrect value is published for any rate or index used in this Agreement and such error is corrected
and published within ninety (90) Days of the date of the publication of such incorrect rate or index, such corrected rate or index will
be substituted for the incorrect rate or index and any calculations involving such rate or index will be recalculated and the Parties
will take any necessary actions based upon these revised calculations, including adjustments of amounts previously invoiced or paid.

 

		1.3.6	In respect of JKM, if

 

		(a)	the methodology of calculating JKM has materially changed;

 

		(b)	the quotation is not available because the publisher (i) is insolvent, or (ii) announces that it will
cease to provide that quotation, and in each case there is no successor publisher;

 

		(c)	the quotation is formally discontinued or the publisher of the quotation announces that it may no longer
be used; or

 

		(d)	in the opinion of both Buyer and Seller, as confirmed by each Party in writing, the basis for the quotation
no longer reflects the original intent of the Parties and would otherwise be no longer appropriate under this Agreement,

 

then either Party
may notify the other Party that the notifying Party requests an amendment to this Agreement to replace JKM with

 

		(x)	a benchmark quotation that has been formally designated, nominated or recommended as the replacement quotation
by the publisher of the quotation, and if there is no such formally designated replacement;

 

		(y)	a comparable successor or alternative quotation expressed in USD per MMBtu that is then broadly accepted
as the prevailing market practice for LNG sales and purchases in Japan Korea, China and Taiwan in lieu of “JKM” and is reasonably
acceptable to Buyer and Seller; or

 

     19

     

    

 

		(z)	if no such broadly accepted comparable successor quotation exists at such time, a successor or alternative
quotation as Buyer and Seller may reasonably determine;

 

in each case that
maintains the Parties in a similar commercial position as they were when using JKM. Then, if the Parties mutually agree to proceed and
notwithstanding any other provision of this Agreement,

 

		(i)	Buyer and Seller shall promptly negotiate in good faith a JKM replacement amendment in form and substance
reasonably satisfactory to Buyer and Seller; and

 

		(ii)	such JKM replacement amendment shall become effective upon the execution and delivery of such JKM replacement
amendment by Buyer and Seller. In the event the Parties do not agree on a JKM replacement, the Parties hereby agree that an Expert shall
determine the JKM replacement in accordance with Section 20.2. A change in respect of JKM that does not materially affect the economic
balance of this Agreement, such as a change in the JKM name, shall not trigger this Section 1.3.6.

 

		2.	Approvals

 

		2.1	Approvals

 

Seller shall at all times obtain and maintain,
or cause to be obtained and maintained, in force the FTA Export Authorization(s) and Non-FTA Export Authorization(s) required to permit
the export of all quantities of LNG to be made available hereunder (each of the foregoing FTA Export Authorization(s) and Non-FTA Export
Authorization(s), an “Export Authorization”), in each case except as may be excused by Force Majeure. Each Party shall
use reasonable efforts to obtain and maintain in force, or cause to be obtained and maintained in force, the other Approvals (other than
the Export Authorizations) that are required for its own performance of this Agreement, and shall cooperate fully with each other whenever
necessary for this purpose.

 

		2.2	Change in Export Laws

 

If the laws of the United States of America
do not require maintenance of or compliance with one or more Export Authorization(s) to export LNG from the United States of America
to a Discharge Terminal, then in respect of such Discharge Terminal, for so long as the laws of the United States of America do not require
such maintenance or compliance, the Parties agree that this Agreement shall be read and construed to omit those provisions of this Agreement
relating to such affected Export Authorization(s) and neither Party shall have any rights or obligations (including obligations to maintain
such affected Export Authorization(s) and claims of Force Majeure) in respect of any such Export Authorization(s).

 

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		2.3	Conditions Precedent

 

		2.3.1	The Parties recognize and agree that this Agreement (other than the provisions of this Section 2.3 and
Sections 1, 2.1, 2.2, 4.1 and 14 to 25, which shall all be in full force and effect as of the Effective Date) shall not become effective
unless and until each of the following conditions have been satisfied or waived (each, a “Condition Precedent”):

 

		(a)	Seller has issued to the EPC contractor under the EPC Contract an unconditional full notice to proceed
for the construction of Plant 1 and Plant 2; and

 

		(b)	Seller or an Affiliate of Seller has secured the necessary financing arrangements to construct such Plants
and has achieved financial close under such arrangements.

 

		2.3.2	Promptly upon satisfaction of each Condition Precedent, Seller shall notify Buyer of such satisfaction.
Satisfaction of each Condition Precedent can be waived only by mutual agreement of Seller and Buyer. The date that the last of the Conditions
Precedent is satisfied or waived shall be the “CP Fulfillment Date.”

 

		2.3.3	Seller shall endeavor in good faith to satisfy or procure the satisfaction of each Condition Precedent
on or before July 31, 2022 (such date, as may be revised in accordance with this Section 2.3.3, the “CP Deadline”),
provided that if either Condition Precedent is not satisfied by the CP Deadline in circumstances other than where such Condition Precedent
has been waived in accordance with Section 2.3.2, Seller shall give notice to that effect to Buyer and, if requested by Buyer, shall provide
an explanation of the reason for the delay in satisfaction of the Conditions Precedent and the revised date by which it is reasonably
expected that the Conditions Precedent will be satisfied. If the Parties agree in writing to change the deadline for satisfaction of the
Conditions Precedent to the revised date notified by Seller or another date, such revised date shall be deemed the CP Deadline for all
purposes of this Agreement.

 

		2.3.4	If either Condition Precedent has been neither satisfied nor waived by the CP Deadline (as such CP Deadline
may be revised pursuant to Section 2.3.3), then at any time after such CP Deadline either Party may give to the other Party a notice of
termination of this Agreement. Such notice of termination shall be effective in accordance with Section 19.3.2 if either Condition Precedent
remains neither satisfied nor waived prior to the applicable termination date pursuant to Section 19.3.2.

 

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		3.	Subject Matter

 

		3.1	Sale and Purchase of LNG

 

		3.1.1	Seller shall sell and make available for delivery, or compensate Buyer if not made available for delivery,
LNG in cargoes at the Delivery Point, and Buyer shall take and pay for, or compensate Seller if not taken, such LNG, in the quantities
and at the prices set forth in and otherwise in accordance with and subject to the provisions of this Agreement.

 

		3.1.2	Seller shall load cargoes from the Driftwood LNG Terminal, but, upon not less than sixty (60) Days’
prior written notice and subject to the prior written consent of Buyer (such consent not to be unreasonably withheld or delayed), Seller
may deliver cargoes to Buyer from any alternate source; provided, that:

 

		(a)	LNG from such alternate source shall, when made available by Seller to Buyer, comply with the Specifications;

 

		(b)	LNG from such alternate source shall comply with the specifications in Buyer’s relevant LNG sales
contractual obligation(s) in the reasonable determination of Buyer;

 

		(c)	Seller has agreed to reimburse Buyer an amount equal to Buyer’s reasonable estimate of the increased
costs that would be incurred as a result of the delivery of LNG at such alternate source, including any additional shipping costs incurred
by Buyer to transport the cargo from the alternate source to the unloading port;

 

		(d)	the delivery of LNG at an alternate source is necessitated by operational conditions affecting the Driftwood
LNG Terminal that have reduced the capability of the Driftwood LNG Terminal to produce or load LNG;

 

		(e)	the receipt of LNG at an alternate source will not affect the ability of LNG Tankers to perform such cargo
receipts and deliveries and other cargo receipts and deliveries in a timely fashion and in accordance with Buyer’s contractual obligations,
in the reasonable determination of Buyer;

 

		(f)	the facilities at the alternate source are compatible with LNG Tankers and acceptable in the reasonable
determination of Buyer;

 

		(g)	any other condition reasonably imposed by Buyer has been satisfied by Seller to Buyer’s reasonable
satisfaction; and

 

		(h)	the alternate source and the voyage thereto do not present added risks or dangers to any LNG Tanker or
personnel of Buyer or any Affiliate of Buyer in the reasonable determination of Buyer.

 

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		4.	Term

 

		4.1	Term

 

		4.1.1	Term. This Agreement shall enter into force and effect as set forth in Section 2.3.1 and, subject
to Section 19, shall continue in force and effect until the tenth (10th) anniversary of the First DFCD (the “Term”).

 

		4.1.2	Extension of Term.

 

		(a)	At any time not later than the date that is three (3) years prior to the then-current expiration date
of this Agreement, Buyer shall notify Seller indicating whether Buyer elects to extend the then-current Term by an additional five (5)
years beyond the then-current Term. Buyer’s right to extend shall be subject to Seller being able, by the exercise of reasonable
efforts, to maintain in effect all Approvals necessary for the continued operation of the Driftwood LNG Terminal during the extension
period(s), provided that if Seller is only able, using reasonable efforts, to maintain such Approvals for less than the full five (5)
year extension term, then the extension term will be reduced to equal the term of such Approvals.

 

		(b)	If Buyer fails to provide such notice, Buyer shall be deemed to have elected to not extend the then-current
Term.

 

		(c)	In the event Buyer has elected to extend the Term pursuant to Section 4.1.2(a), Buyer may then exercise
its extension right for a second time pursuant to Section 4.1.2(a) for a further five (5) years.

 

		(d)	The CSP for each extension shall be as provided in Sections 9.1.2 and 9.1.3, as applicable. All other
terms and conditions of this Agreement during any extension period pursuant to this Section 4.1.2 shall be the same as those prior to
such extension period.

 

		4.2	Date of First Commercial Delivery

 

The Day notified by Seller to Buyer in
respect of either Plant 1 or Plant 2, as applicable, shall be the “Date of First Commercial Delivery” for such Plant,
which Day will be determined in accordance with Sections 4.3 and 4.4.

 

		4.3	Notification of Date of First Commercial Delivery

 

		4.3.1	For Plant 1, the period that begins on the first Day of the Month that follows the date that is forty-eight
(48) Months after the CP Fulfillment Date and  ends three hundred sixty-five (365)
Days later; and for Plant 2, the period that begins on the first Day of the Month that follows the date that is fifty-seven (57) Months
after the CP Fulfillment Date and ends three hundred sixty-five (365) Days later; shall be the “First Window Period”
for such Plant.

 

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		4.3.2	Seller shall notify Buyer at least seven hundred thirty (730) Days prior to the commencement of each First
Window Period of a two hundred seventy (270) Day period falling within the First Window Period (“Second Window Period”)
during which the Date of First Commercial Delivery of the relevant Plant is expected to occur, or, in the absence of notification by Seller
in accordance with this Section 4.3.2, the relevant Second Window Period shall be deemed to be the last two hundred seventy (270) Days
of the associated First Window Period.

 

		4.3.3	Seller shall notify Buyer at least two hundred seventy (270) Days prior to the commencement of each Second
Window Period of a one hundred eighty (180) Day period falling within the Second Window Period (“Third Window Period”)
during which the Date of First Commercial Delivery of the relevant Plant is expected to occur, or, in the absence of notification by Seller
in accordance with this Section 4.3.3, the relevant Third Window Period shall be deemed to be the last one hundred eighty (180) Days of
the associated Second Window Period.

 

		4.3.4	Seller shall notify Buyer at least one hundred twenty (120) Days prior to the commencement of each Third
Window Period of a ninety (90) Day period falling within the Third Window Period (“Fourth Window Period”) during which
the Date of First Commercial Delivery of the relevant Plant is expected to occur, or, in the absence of notification by Seller in accordance
with this Section 4.3.6, the relevant Fourth Window Period shall be deemed to be the last ninety (90) Days of the associated Third Window
Period.

 

		4.3.5	Seller shall notify Buyer at least ninety (90) Days prior to the commencement of each Fourth Window Period
of a sixty (60) Day period falling within the Fourth Window Period (“Fifth Window Period”) during which the Date of
First Commercial Delivery of the relevant Plant is expected to occur, or, in the absence of notification by Seller in accordance with
this Section 4.3.6, the relevant Fifth Window Period shall be deemed to be the last sixty (60) Days of the associated Fourth Window Period.

 

		4.3.6	Seller shall notify Buyer at least sixty (60) Days prior to the commencement of each Fifth Window Period
of a thirty (30) Day period falling within the Fifth Window Period (“Final Window Period”) during which the Date of
First Commercial Delivery of the relevant Plant is expected to occur, or, in the absence of notification by Seller in accordance with
this Section 4.3.6, the relevant Final Window Period shall be deemed to be the last thirty (30) Days of the associated Fifth Window Period.
Seller shall concurrently provide a non-binding good faith estimate
of the ten (10) Day period falling within the Final Window Period during which the Date of First Commercial Delivery of the relevant Plant
is expected to occur.

 

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		4.3.7	Subject to Section 4.4.1, Seller shall notify Buyer at least forty-five (45) Days prior to the commencement
of each Final Window Period of the Day within such Final Window Period which is expected to be the Date of First Commercial Delivery of
the relevant Plant, or, in the absence of notification by Seller in accordance with this Section 4.3.7, the Date of First Commercial Delivery
of such Plant shall be deemed to be the last Day of the associated Final Window Period.

 

		4.3.8	Subject to Section 4.4.1, the Date of First Commercial Delivery of a Plant shall be the date so notified
pursuant to this Section 4.3, regardless of whether any LNG is scheduled for delivery to Buyer or whether any LNG is in fact so delivered
from such Plant. Seller shall provide non-binding good faith estimates of each Date of First Commercial Delivery from time to time as
credible and relevant information is available (but not less frequently than one (1) update every six (6) Months).

 

		4.3.9	Each window period identified in this Section 4.3 may be extended, and the Date of First Commercial Delivery
of each Plant may be deferred, on a Day-for-Day basis, for any event of force majeure affecting Seller, its Affiliates, the Driftwood
LNG Terminal or the Driftwood Pipeline that delays construction or commissioning of a Plant or the Driftwood Pipeline or otherwise delays
a Plant or the Driftwood Pipeline becoming Commercially Operable; provided that any such extension or deferral shall not exceed three
hundred and sixty-five (365) Days.

 

		4.4	Delayed Date of First Commercial Delivery

 

		4.4.1	Notwithstanding Section 4.3 to the contrary, if Plant 1 or Plant 2, as applicable, or the Driftwood Pipeline,
has not become Commercially Operable by the last Day of the Final Window Period for the relevant Plant as specified in Section 4.3.6 (as
such window period may have been extended pursuant to Section 4.3.9), the Date of First Commercial Delivery of such Plant shall be the
Day notified by Seller to Buyer, which Day shall not occur prior to the Day that such Plant and the Driftwood Pipeline are Commercially
Operable; provided, however, that Seller shall endeavor in good faith to designate the Date of First Commercial Delivery of such
Plant to be the Day that such Plant and the Driftwood Pipeline are Commercially Operable.

 

		4.4.2	If the First DFCD does not occur by the date that is one hundred and eighty (180) Days after the last
Day of the Final Window Period for Plant 1 (as such window period may have been extended pursuant to Section 4.3.9), Buyer may elect to
terminate this Agreement without liability for either Party pursuant to Section 19.2.9 by
delivering notice of such election to Seller no later than two hundred and seventy (270) Days after the last Day of the Final Window Period
for Plant 1 (as such window period may have been extended pursuant to Section 4.3.9), and Seller may elect to terminate this Agreement
without liability for either Party pursuant to Section 19.2.9 by delivering notice of such election to Buyer no earlier than five hundred
and forty (540) Days after the last Day of the Final Window Period for Plant 1 (as such window period may have been extended pursuant
to Section 4.3.9); provided, however, Seller may only terminate this Agreement if it terminates all other LNG sale and purchase
agreements with Foundation Customers that have a start of term associated with Plant 1 or Plant 2.

 

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		4.5	Contract Year

 

References to a “Contract Year”
mean a period of time from and including January 1st through and including December 31st of the same calendar year,
provided that:

 

		(a)	the first Contract Year is the period of time beginning on the First DFCD and ending on December 31st
of the same calendar year (the “First Contract Year”); and

 

		(b)	the final Contract Year is the period of time beginning on the January 1st immediately preceding
the final Day of the Term and ending on the final Day of the Term (the “Final Contract Year”).

 

		5.	Quantities

 

		5.1	ACQ

 

		5.1.1	ACQ. Subject to Sections 5.1.2 and 5.1.3, Buyer’s annual contract quantity of LNG under this
Agreement (“ACQ”) for a given Contract Year shall be fifty-two million one hundred and seventy thousand (52,170,000)
MMBtu.

 

		5.1.2	First and Final Contract Years. The ACQ for the First Contract Year and Final Contract Year shall
be pro-rated based on the number of Days in each such Contract Year.

 

		5.1.3	Start-Up.

 

		(a)	Subject to Section 5.1.2, the ACQ for each Contract Year before the Contract Year in which the Second
DFCD occurs shall be twenty-six million and eighty-five thousand (26,085,000) MMBtu.

 

		(b)	The ACQ for the Contract Year in which the Second DFCD occurs shall equal the sum of the following:

 

		(i)	for the period of time in such Contract Year prior to the Second DFCD, twenty-six million and eighty-five
thousand  (26,085,000) MMBtu, pro-rated for the
number of Days in such Contract Year before the Second DFCD; and

 

		(ii)	for the period of time in such Contract Year on and after the Second DFCD, fifty-two million one hundred
and seventy thousand (52,170,000) MMBtu, pro-rated for the number of Days in such Contract Year on and after the Second DFCD.

 

		5.1.4	Measurement Units. The ACQ shall be expressed in MMBtus. All references in this Agreement to cargoes
or other units are solely for operational convenience.

 

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		5.2	Adjusted Annual Contract Quantity

 

The “Adjusted Annual Contract
Quantity” or “AACQ”, expressed in MMBtu, for each Contract Year shall be equal to the ACQ for the relevant
Contract Year, plus any of the following:

 

		5.2.1	any Round-Up Quantity for such Contract Year, determined in accordance with Section 5.4.2; and

 

		5.2.2	any Round-Down Quantity for the previous Contract Year, determined in accordance with Section 5.4.3, and
carried forward to the current Contract Year;

 

less any of the following:

 

		5.2.3	any Major Scheduled Maintenance Quantities for such Contract Year, if any, determined in accordance with
Section 5.5;

 

		5.2.4	any Round-Up Quantity taken in the previous Contract Year, determined in accordance with Section 5.4.2,
and carried forward as a deduction to the current Contract Year; and

 

		5.2.5	any Round-Down Quantity for the current Contract Year, determined in accordance with Section 5.4.3.

 

		5.3	Seasonal Deliveries

 

The AACQ for each Contract Year shall
be scheduled in the ADP in two (2) tranches (each a “Tranche”). Subject to adjustments for major scheduled maintenance,
partial Contract Years, and the Contract Year in which the Second DFCD occurs, the first (1st) Tranche shall consist of not
less than fifty percent (50%) and not more than sixty percent (60%) of the AACQ, and the second (2nd) Tranche shall consist
of the remainder of the AACQ. The Tranches shall be scheduled as follows:

 

		5.3.1	the first (1st) Tranche shall be scheduled for delivery on a reasonably ratable basis throughout
the months of January, February, March, October, November and December of the relevant Contract Year, taking into consideration planned
maintenance at the Driftwood LNG Terminal; and

 

		5.3.2	the second (2nd) Tranche shall be scheduled for delivery on a reasonably ratable basis throughout
the months of April, May, June, July, August and September of the relevant Contract Year, taking into consideration planned maintenance
at the Driftwood LNG Terminal.

 

		5.4	Round-Up/Round-Down Quantities

 

		5.4.1	If, during the development of the ADP for a Contract Year, it appears that the delivery during such Contract
Year of the AACQ (calculated without regard to Section 5.2.1 or 5.2.5) (the “Preliminary AACQ”) would require Seller
to make available and Buyer to take a quantity of LNG that is less than a Full Cargo Lot (such quantity, the “Stub Quantity”),
then Seller may request pursuant to Section 8.1.3(b), or Buyer may request pursuant to Section 8.2.1, as applicable, that the AACQ be
increased by a quantity of LNG sufficient to deliver the AACQ in Full Cargo Lots. The other Party shall use reasonable efforts to accommodate
the request.

 

		5.4.2	If the other Party, through the use of reasonable efforts, is able to schedule the delivery or receipt,
as applicable, of the additional LNG, then the difference between the AACQ and the Preliminary AACQ shall be the “Round-Up Quantity”
for such Contract Year; provided, however, that the Round-Up Quantity shall be less than a Full Cargo Lot. In granting requests
for round-up quantities, Seller shall act in a non-discriminatory manner among Foundation Customers and shall give priority to the requests
of Foundation Customers over the requests of other Driftwood LNG Terminal buyers.

 

		5.4.3	If the other Party, despite its exercise of reasonable efforts, is not able to schedule the delivery or
receipt, as applicable, of the additional LNG, or if neither Party requests a Round-Up Quantity pursuant to Section 8.1.3(b) or 8.2.1,
as applicable, then the Stub Quantity shall be the “Round-Down Quantity” for such Contract Year; provided, however,
that the Round-Down Quantity shall be less than a Full Cargo Lot.

 

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		5.5	Major Scheduled Maintenance

 

Seller shall be entitled, pursuant to
Section 5.2.3, to reduce the AACQ in order to perform major scheduled maintenance to the Driftwood LNG Terminal (the “Major Scheduled
Maintenance Quantity”) subject to the following conditions:

 

		5.5.1	Seller may only exercise its right to such reduction in a Contract Year to the extent Seller determines,
as a Reasonable and Prudent Operator, that major scheduled maintenance is required for operational reasons;

 

		5.5.2	Seller shall notify Buyer of its exercise of, and the amount of, Major Scheduled Maintenance Quantity
and the time period during which such maintenance is scheduled to occur pursuant to Section 8.1.1(b);

 

		5.5.3	the Major Scheduled Maintenance Quantity reduction elected by Seller during any Contract Year may not
exceed seven decimal five percent (7.5%) of the ACQ for such Contract Year; and

 

		5.5.4	the cumulative amount of all Major Scheduled Maintenance Quantity reductions elected by Seller pursuant
to this Section 5.5 shall not exceed twenty-five percent (25%) of the ACQ during any six (6) consecutive Contract Years.

 

		5.6	Seller’s Delivery Obligation

 

		5.6.1	During any Contract Year, Seller shall make available to Buyer the Scheduled Cargo Quantity with respect
to each cargo scheduled in the ADP for such Contract Year, less;

 

		(a)	any quantities of LNG not taken by Buyer for any reasons attributable to Buyer (other than quantities
for which Buyer is excused pursuant to this Agreement from taking due to Seller’s breach of this Agreement), including quantities
not taken by Buyer due to Force Majeure affecting Buyer;

 

		(b)	any quantities of LNG not made available by Seller due to Force Majeure affecting Seller or Upstream FM
(other than quantities of LNG that Buyer elects to take on a Henry Hub basis pursuant to Section 14.3.4); and

 

		(c)	any cargo suspended pursuant to Section 19.1.1.

 

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		5.6.2	Except as otherwise excused in accordance with the provisions of this Agreement, if, during any Contract
Year, for any reason other than those specified in Section 5.6.1, Seller does not make available the Scheduled Cargo Quantity with respect
to any cargo identified in Section 5.6.1 then the amount by which the Scheduled Cargo Quantity for such cargo exceeds the quantity of
LNG made available by Seller in relation to such cargo shall be the “Cargo DoP Quantity”. Seller shall pay to Buyer
for the Cargo DoP Quantity in an amount equal to:

 

		(a)	in respect of any Cargo DoP Quantity or portion thereof for which a replacement quantity can be purchased:

 

		(i)	an amount equal to the actual, documented amount paid by Buyer for the purchase of a replacement quantity
of LNG or Gas (not to exceed the MMBtu equivalent of the Cargo DoP Quantity); less

 

		(ii)	an amount equal to the CSP, multiplied by the Cargo DoP Quantity; plus

 

		(iii)	any actual, reasonable and verifiable incremental costs incurred by Buyer as a result of such failure;
less

 

		(iv)	any actual, reasonable and verifiable savings obtained by Buyer as a result of such failure; plus

 

		(b)	in respect of any Cargo DoP Quantity or portion thereof for which a replacement quantity cannot be purchased,
any actual, reasonable and verifiable costs incurred by Buyer by adjusting, reducing, or terminating its resale arrangements in respect
of such LNG, including any capacity reservation and transportation costs; (the “Cargo DoP Payment”);
provided, however, that the Cargo DoP Payment shall not exceed an amount equal to [***] percent ([***]%) of the CSP, multiplied
by the Cargo DoP Quantity.

 

		5.6.3	Notwithstanding the foregoing, if the Cargo DoP Quantity is within the operational tolerance of two percent
(2%) of the Scheduled Cargo Quantity (“Operational Tolerance”) (such Operational Tolerance to be exercised by Seller
only with respect to operational matters regarding the Driftwood LNG Terminal, and without regard to commercial considerations), the Cargo
DoP Payment shall be USD [***] (US$[***]).

 

		5.6.4	Buyer shall use reasonable efforts to mitigate Seller’s losses in accordance with this Section 5.6.

 

		5.6.5	Any payment that Seller makes under this Section 5.6 shall not be treated as an indirect, incidental,
consequential, punitive or exemplary loss or a loss of income or profits for purposes of Section 15.2.1.

 

		5.6.6	In the event the ability of the Driftwood LNG Terminal to make available LNG is impaired due to an unscheduled
services interruption that does not constitute Force Majeure, Seller shall comply with the Foundation Customer Priority in allocating
the LNG that is made available at the Driftwood LNG Terminal.

 

		5.6.7	Seller shall not contract for a new transaction to resell the in-tank Cargo DoP Quantity; provided,
however, that the foregoing shall not restrict Seller from selling any LNG to any Driftwood LNG Terminal buyer in accordance with
a delivery schedule in-effect at the time of the Delivery Window for the Cargo DoP Quantity.

 

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		5.7	Buyer’s Purchase Obligation

 

		5.7.1	During any Contract Year, Buyer shall take and pay for the Scheduled Cargo Quantity with respect to each
cargo scheduled in the ADP for such Contract Year, less:

 

		(a)	any quantities of LNG not made available by Seller for any reasons attributable to Seller (other than
quantities for which Seller is excused pursuant to this Agreement from making available due to Buyer’s breach of this Agreement),
including quantities not made available by Seller due to Force Majeure affecting Seller or Upstream FM (other than quantities of LNG that
Buyer elects to take on a Henry Hub basis pursuant to Section 14.3.4);

 

		(b)	any quantities of LNG not taken by Buyer due to Force Majeure affecting Buyer;

 

		(c)	any quantities of LNG that the relevant LNG Tanker is not capable of loading due to Seller’s delivery
of LNG that has a Gross Heating Value that is less than the value identified by Seller pursuant to Section 8.1.1(a); and

 

		(d)	any quantities of Off-Spec LNG that Buyer is relieved from taking pursuant to Section 12.3.

 

		5.7.2	If, with respect to any cargo identified in Section 5.7.1, Buyer does not take all or part of the Scheduled
Cargo Quantity of such cargo, and such failure to take is not otherwise excused pursuant to Section 5.7.1, then the amount by which the
Scheduled Cargo Quantity for such cargo exceeds the quantity of LNG taken by Buyer in relation to such cargo shall be the “Cargo
Shortfall Quantity”.

 

		5.7.3	Buyer shall pay Seller an amount equal to the Cargo Shortfall Quantity, multiplied by the CSP (the
 “Cargo Shortfall Payment”).

 

		5.7.4	Notwithstanding the foregoing, if the Cargo Shortfall Quantity is within the Operational Tolerance (such
Operational Tolerance to be exercised by Buyer only with respect to operational matters regarding the LNG Tanker, and without regard to
commercial considerations), the Cargo Shortfall Payment shall be USD [***](US$[***]).

 

		5.7.5	Seller shall use reasonable efforts to sell or cause to be sold the Cargo Shortfall Quantity (whether
as LNG or Gas) to a Third Party or multiple Third Parties through one or more sales (each such sale, a “Mitigation Sale”)
generating a Mitigation Sale Payment, or otherwise mitigate as agreed by the Parties in writing. Seller shall not be obliged to effect
or cause to be effected any Mitigation Sale under its third-party sales obligations if such sales obligations were effective at the time
of the earlier to occur of (i)  Buyer’s failure to take such LNG;
or (ii) Buyer’s notice to Seller that it will not take such LNG.

 

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		5.7.6	If Seller sells or causes to be sold the Cargo Shortfall Quantity or any portion thereof in a Mitigation
Sale, Seller shall, within ten (10) Days of Seller’s receipt of the final payment from a Mitigation Sale, refund to Buyer an amount
(the “Mitigation Sale Payment”) equal to the lesser of (x) the Cargo Shortfall Payment in respect of the Cargo Shortfall
Quantity (less any Mitigation Sale Payments already received pursuant to other Mitigation Sales in respect of the same Cargo Shortfall
Quantity) and (y) an amount calculated as follows:

 

		(a)	the proceeds of the Mitigation Sale; plus

 

		(b)	any actual, reasonable and verifiable savings obtained by Seller as a result of the Mitigation Sale as
opposed to the sale of LNG to Buyer, including savings associated with reduced or avoided costs and fuel gas for LNG production and other
reduced or avoided costs; less

 

		(c)	any actual, reasonable and verifiable incremental costs incurred by Seller as a result of the Mitigation
Sale.

 

		5.7.7	Seller shall use reasonable efforts to mitigate Buyer’s Losses in accordance with this Section 5.7.

 

		5.7.8	Any payment that Buyer makes under this Section 5.7 shall not be treated as an indirect, incidental, consequential,
punitive or exemplary loss or a loss of income or profits for purposes of Section 15.2.1.

 

		6.	Delivery Point, Title and Risk, Destination

 

		6.1	Delivery Point

 

Seller shall deliver LNG to Buyer, subject
to the terms and conditions of this Agreement, at the point at which the flange coupling of the LNG loading line at the Driftwood LNG
Terminal (or at any alternate LNG liquefaction terminal agreed to pursuant to Section 3.1.2) joins the flange coupling of the LNG intake
manifold of the relevant LNG Tanker (“Delivery Point”) and Seller shall be the exporter of record, provided however
that, Buyer shall provide the documentation requested by Seller which is necessary to comply with the customs and excise procedures at
the Loading Port. If the documents requested by Seller are not customarily issued in relation to the sale and purchase and transportation
of LNG or the LNG Tanker, Buyer shall exercise reasonable efforts to obtain such documents.

 

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		6.2	Title and Risk

 

Title to, and all risks in respect of,
the LNG sold by Seller pursuant to this Agreement shall pass from Seller to Buyer as the LNG passes the Delivery Point.

 

	 	6.3	Destination

 

Subject to Section 25.1, Buyer shall be
free to (i) sell such LNG free on board at the Driftwood LNG Terminal or at any other point during a voyage, or at or after the unloading
of any LNG purchased hereunder and (ii) transport the LNG to, and market the LNG at, any destination of its choosing, in accordance with
the provisions of this Agreement.

 

		7.	Transportation and Loading

 

		7.1	Transportation by Buyer

 

Buyer shall, in accordance with this Agreement,
Applicable Laws, Approvals and International Standards, provide, or cause to be provided, transportation from the Delivery Point of all
quantities of LNG delivered hereunder to Buyer. Such transportation shall begin immediately after delivery of such LNG.

 

		7.2	Driftwood LNG Terminal

 

		7.2.1	During the period from the CP Fulfillment Date until the Second DFCD, Seller shall use commercially reasonable
efforts to proceed diligently to construct, test, commission, maintain and operate the Driftwood LNG Terminal in accordance with the standards
and specifications set forth in Section 7.2.3 or cause the same to occur.

 

		7.2.2	During the period from the First DFCD and continuing throughout the Term, Seller shall own, or have access
to and use of, and maintain and operate or cause to be maintained and operated, the Driftwood LNG Terminal in accordance with the following:
(a) the terms and conditions set forth in this Agreement; (b) Applicable Laws; (c) International Standards; and (d) to the extent
not inconsistent with International Standards, such good and prudent practices as are generally followed in the LNG industry by Reasonable
and Prudent Operators of similar LNG liquefaction terminals.

 

		7.2.3	The Driftwood LNG Terminal shall include the following:

 

		(a)	systems for communications with LNG Tankers;

 

		(b)	at least one (1) berth, capable of berthing and mooring an LNG Tanker having a laden displacement of
                                                               no more than one hundred forty-eight thousand seven hundred (148,700) metric tonnes, an overall length of no more than three hundred
                                                               fifteen (315) meters (approximately one thousand thirty-four (1,034) feet), a beam of no more than fifty (50) meters (approximately
                                                               one hundred sixty-four (164) feet), and a draft of no more than twelve (12) meters (approximately forty (40) feet), which LNG
                                                               Tankers can safely reach , and safely depart , fully laden, and at which LNG Tankers can lie safely berthed and load at all states of
                                                               the tide safely afloat;

 

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		(c)	lighting sufficient to permit loading operations by day or by night, to the extent permitted by Governmental
Authorities (it being acknowledged, however, that Seller shall in no event be obligated to allow nighttime berthing operations at the
Driftwood LNG Terminal if Seller determines that such operations during nighttime hours could pose safety or operational risks to the
Driftwood LNG Terminal, an LNG Tanker, or a Third Party);

 

		(d)	facilities capable of loading LNG at an approximate rate of up to twelve thousand (12,000) cubic meters
per hour at the Delivery Point, with three (3) LNG loading arms each having a reasonable operating envelope to allow for ship movement
in accordance with International Standards;

 

		(e)	a vapor return line system of sufficient capacity to allow for transfer of Gas necessary for safe LNG
loading operations to take place at the allocated rates described in Section 7.2.3(d);

 

		(f)	a suitable gangway allowing access to each LNG Tanker from the Driftwood LNG Terminal;

 

		(g)	emergency shut down system capable of interconnecting with an LNG Tanker at berth;

 

		(h)	LNG storage facilities;

 

		(i)	LNG liquefaction facilities;

 

		(j)	qualified and competent personnel, fluent in English to coordinate with the LNG Tanker during loading
operations; and

 

		(k)	facilities for the sampling and analysis of LNG.

 

		7.2.4	Services and facilities not provided by Seller include the following: (a) facilities and loading
lines for liquid or gaseous nitrogen to service an LNG Tanker; (b) facilities for providing bunkers; (c) facilities for the
handling and delivery to the LNG Tanker of ship’s stores, provisions and spare parts; and (d) nitrogen rejection. Buyer shall
be required to obtain towing, escort, line handling, and pilot services as described in Section 7.5.3.

 

		7.3	Compatibility of the Driftwood LNG Terminal with LNG Tankers

 

		7.3.1	Buyer shall ensure, at no cost to Seller, that each of the LNG Tankers is fully compatible with the general
specifications set forth in Section 7.2.3 and any modifications made to the Driftwood
LNG Terminal that are Required Modifications. Should an LNG Tanker fail materially either to be compatible with the Driftwood LNG Terminal,
or to be in compliance with the provisions of Sections 7.5 and 7.6, Buyer shall not employ such LNG Tanker until it has been modified
to be so compatible or to so comply.

 

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		7.3.2	The Parties agree that, after the Effective Date, Seller shall be entitled to modify the Driftwood LNG
Terminal in any manner whatsoever, provided that: (w) such modifications do not render the Driftwood LNG Terminal noncompliant with International
Standards; (x) such modifications do not render the Driftwood LNG Terminal incompatible with an LNG Tanker that is compatible with the
general specifications set forth in Section 7.2.3; (y) such modifications, once finalized, do not reduce the ability of Seller to make
available LNG in accordance with the terms of this Agreement; and (z) such modifications do not otherwise conflict with Seller’s
obligations hereunder. Notwithstanding the foregoing, Seller may modify the Driftwood LNG Terminal in a manner that would render it incompatible
with an LNG Tanker if such modification is required by and is made pursuant to a change in Applicable Laws, a change in required Approvals,
or a change in International Standards (each such modification, a “Required Modification”).

 

		7.3.3	In the event the LNG Tanker fails to be compatible with the Driftwood LNG Terminal due to a modification
to the Driftwood LNG Terminal that is not a Required Modification, the actual and documented costs and expenses incurred by Buyer solely
as a result of such modification, including as a result of delays in the berthing of the LNG Tanker at the Driftwood LNG Terminal, repositioning
of the LNG Tanker, and of the modifications of the LNG Tanker directly caused by such modification shall be reimbursed by Seller to Buyer.

 

		7.4	Buyer Inspection Rights in Respect of the Driftwood LNG Terminal

 

		7.4.1	Upon giving at least fourteen (14) Days’ notice in advance of the requested date of inspection and
obtaining Seller’s prior written consent, which consent shall not be unreasonably withheld or delayed, a reasonable number of Buyer’s
designated representatives may from time to time (including during the period of construction of the Driftwood LNG Terminal), but not
more often than once every calendar quarter, inspect the operation of the Driftwood LNG Terminal. Such inspection shall occur between
8:00 a.m. Central Time and 5:00 p.m. Central Time on a Business Day scheduled by Seller. Seller shall use commercially reasonable efforts
to schedule the inspection on the date requested by Buyer. Any such inspection shall be at Buyer’s sole risk and expense. In conjunction
with any such inspection, Seller shall provide Buyer access at reasonable times and places (taking into consideration cost and schedule
impacts) to (a) relevant qualified employees and contractors of Seller or Driftwood in order to discuss the progress of the construction of the
Driftwood LNG Terminal and the operation and maintenance of the Driftwood LNG Terminal (as applicable) and (b) relevant documentation,
if any, available to Seller in support of such discussions. Buyer (and its designees) shall carry out any such inspection without any
interference with or hindrance to the safe and efficient operation of the Driftwood LNG Terminal. Buyer’s right to inspect and examine
the Driftwood LNG Terminal shall be limited to verifying Seller’s compliance with Seller’s obligations under this Agreement.
No inspection (or lack thereof) of the Driftwood LNG Terminal by Buyer hereunder, or any requests or observations made to Seller, Driftwood
or their respective representatives by or on behalf of Buyer in connection with any such inspection, shall (i) modify or amend Seller’s
obligations, representations, warranties and covenants hereunder; or (ii) constitute an acceptance or waiver by Buyer of Seller’s
obligations hereunder.

 

		7.4.2	Buyer shall indemnify and hold Seller and its Affiliates harmless from any Claims and Losses resulting
from Buyer’s inspection of the Driftwood LNG Terminal pursuant to Section 7.4.1.

 

		7.5	LNG Tankers

 

		7.5.1	Buyer shall cause each LNG Tanker to comply with the requirements of this Section 7.5 and the requirements
of Section 7.6 in all respects.

 

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		7.5.2	Each LNG Tanker shall comply with all Applicable Laws and International LNG Vessel Standards, including
those that relate to seaworthiness, design, safety, environmental protection and navigation, and shall obtain all Approvals required by
Governmental Authorities, in each case to enable such LNG Tanker to enter, leave and carry out all required operations at the Driftwood
LNG Terminal. Each LNG Tanker shall at all times have on board valid documentation evidencing all such Approvals. Each LNG Tanker shall
at all times be in possession of valid documents of compliance and safety management certificates, and shall have an effective management
system in operation and an emergency response plan that addresses all identified risks and provides proper controls for dealing with these
risks.

 

		7.5.3	Buyer shall be required to obtain towing, escort, line handling, and pilot services, in accordance with
this Section 7.5.3. Seller shall cause an Affiliate to procure tug services at the Driftwood LNG Terminal from a competent and experienced
tug services provider. As soon as reasonably practicable after the Affiliate has so contracted for tug services, Seller shall notify Buyer
thereof. Prior to the arrival of any LNG Tanker at the Loading Port, Buyer shall cause Transporter or the master of each LNG Tanker (acting
on behalf of the ship-owner and charterer) making use of the port or marine facilities at the Loading Port on behalf of Buyer, to enter
into a tug services agreement with the designated Affiliate for Buyer’s procurement, at its sole risk and expense, of tug
services at the Driftwood LNG Terminal, which tug services shall include towing and escort services. Such agreement shall provide that
the fees for tug services shall be paid by the Transporter to the designated Affiliate. Seller shall use commercially reasonable efforts
to cause the fee for tug services to be applied on a non-discriminatory basis among all LNG buyers at the Driftwood LNG Terminal. Fees
and other significant terms of the tug services agreement shall be in line with those at similar liquefaction facilities located on the
United States Gulf Coast. In the event the Transporter or the master of an LNG Tanker fails to execute a tug services agreement that complies
with the requirements of this Section 7.5.3, Seller may refuse to make LNG available and in such event, Buyer shall be deemed to have
failed to take the applicable Scheduled Cargo Quantity, and Sections 5.7.2 to 5.7.7 shall apply. Seller shall cause line handling services
to be provided at the Driftwood LNG Terminal for Buyer’s procurement at Buyer’s sole risk and expense. Pilot services shall
be obtained by Buyer in accordance with the requirements of Governmental Authorities. Without prejudice to Buyer’s obligations to
secure towing, escort, line handling, and pilot services in accordance with this Section 7.5.3, Seller and its designated Affiliate procuring
the tug services shall have no liability to Buyer for the performance of the tug services or any other marine services by the designated
tug services provider or any other marine services providers.

 

		7.5.4	Buyer shall pay or cause to be paid: (a) all Port Charges directly to the appropriate Person except for
any Port Charges paid by Seller, Seller’s Affiliates or the operator of the Driftwood LNG Terminal on Buyer’s behalf as required
by Applicable Law or the policies of the Loading Port; and (b) all documented charges payable by reason of any LNG Tanker having to shift
from berth at the Driftwood LNG Terminal as a result of the action or inaction of Buyer, its Transporter or the LNG Tanker owner or operator.
Seller shall reimburse Buyer for actual documented Port Charges paid by Buyer pursuant to Section 7.5.4(a) that are ordinary and customary
at such time in respect of an LNG Tanker entering or leaving the relevant Loading Port or loading LNG when calling at such Loading Port,
in each case, under typical conditions; provided, however, that Seller shall not be obligated to reimburse Buyer for any Port Charges
imposed on Buyer in excess of what is ordinary and customary at such time at the Loading Port under typical conditions, including any
Port Charges imposed on Buyer resulting from or in connection with: (i) any actions or omissions of Buyer, its Transporter or the LNG
Tanker owner or operator that result in an LNG Tanker being delayed in entering or leaving the Loading Port or loading LNG; (ii) a collision
between the LNG Tanker and any other vessel, marine or shore-based facility, or other object or environmental hazard; or (iii) violation
by Buyer, its Transporter or the LNG Tanker owner or operator of any Applicable Law, this Agreement or the Driftwood Marine Operations
Manual. Buyer shall invoice Seller pursuant to Section 10.1.5 for such amounts no later than one hundred twenty (120) Days after the end
of the Delivery Window for the applicable cargo.
Upon Buyer’s request, Seller shall endeavor in good faith to cooperate with the Loading Port’s port authorities with the aim
of reducing Port Charges not reimbursed by Seller to levels that are in line with port charges established by port authorities for other
U.S. LNG loading terminals under the same or similar circumstances and conditions under non-emergency situations, to the extent such port
charges are public information.

 

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		7.5.5	Each LNG Tanker must satisfy the following requirements:

 

		(a)	Except as otherwise mutually agreed in writing by the Parties, each LNG Tanker shall be compatible with
the specifications of the Driftwood LNG Terminal identified in Section 7.2.3 and any modifications to the Driftwood LNG Terminal pursuant
to Section 7.3.2, and shall be of a sufficient size to load the applicable Scheduled Cargo Quantity. If Buyer’s LNG Tanker
is not capable of loading the applicable Scheduled Cargo Quantity, Buyer shall be deemed to have failed to take the shortfall quantity
and the provisions of Sections 5.7.2 to 5.7.7 shall apply, except that Buyer shall not be deemed to have failed to take a shortfall quantity
and the provisions of Sections 5.7.2 to 5.7.7 shall not apply if the volume equivalent of the Scheduled Cargo Quantity at the nominated
Gross Heating Value has been loaded.

 

		(b)	Except as otherwise agreed in writing by Seller, which agreement shall not be unreasonably withheld or
delayed, each LNG Tanker shall have a gross volumetric capacity between one hundred twenty-five thousand (125,000) cubic meters and two
hundred sixteen thousand (216,000) cubic meters.

 

		(c)	Each LNG Tanker shall be, in accordance with International Standards, (i) fit in every way for the safe
loading, handling and carrying of LNG in bulk at atmospheric pressure; (ii) tight, staunch, strong and otherwise seaworthy; and (iii)
equipped with facilities for mooring and unmooring and with cargo handling and storage systems (including instrumentation) necessary for
the safe loading, handling, carrying and measuring of LNG, in each case in good order and condition.

 

		(d)	Each LNG Tanker shall at all times be maintained in class with any classification society that is a member
of International Association of Classification Societies Ltd. (IACS) and that has experience in the classification of LNG vessels.

 

		(e)	Each LNG Tanker shall have been constructed to all applicable International Standards (including the International
Code for the Construction and Equipment of Ships Carrying
Liquefied Gases in Bulk).

 

		(f)	Each LNG Tanker shall comply with, and shall be fully equipped, supplied, operated, and maintained to
comply with, all applicable International Standards and Applicable Laws, including those that relate to seaworthiness, design, safety,
environmental protection, navigation, and other operational matters, and all procedures, permits, and approvals of Governmental Authorities
for LNG vessels that are required for the transportation and loading of LNG at the Loading Port. Unless approved by Seller in writing,
which approval shall not be unreasonably withheld or delayed, an LNG Tanker shall be prohibited from engaging in any maintenance, repair
or in-water surveys while berthed at the Driftwood LNG Terminal. Each LNG Tanker shall comply fully with the guidelines of any Governmental
Authority of the United States of America.

 

		(g)	The officers and crew of each LNG Tanker shall have the ability, experience, licenses and training commensurate
with the performance of their duties in accordance with internationally accepted standards with which it is customary for Reasonable and
Prudent Operators of LNG vessels to comply and as required by Governmental Authorities and any labor organization having jurisdiction
over the LNG Tanker or her crew. Without in any way limiting the foregoing, the master, chief engineer, sufficient cargo engineers and
all deck officers shall be fluent in written and oral English and shall maintain all records and provide all reports with respect to the
LNG Tanker in English.

 

		(h)	Each LNG Tanker shall have communication equipment complying with applicable regulations of Governmental
Authorities and permitting such LNG Tanker to be in constant communication with the Driftwood LNG Terminal, the Vessel Traffic Information
System (VTIS) and other vessels in the area.

 

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		(i)	Provided that the Driftwood LNG Terminal supplies a vapor return line meeting the requirements of Section
7.2.3(e), each LNG Tanker shall be capable of loading a full cargo of LNG in a maximum of nineteen (19) hours, in addition to any time
for the connecting, cooling, draining, purging and disconnecting of liquid arms.

 

		(j)	Each LNG Tanker shall procure and maintain Hull and Machinery Insurance and P&I Insurance in accordance
with Section 15.6.

 

		7.6	LNG Tanker Inspections; LNG Tanker Vetting Procedures; Right to Reject LNG Tanker

 

		7.6.1	During the Term, on prior reasonable notice to Buyer, Seller may, at its sole risk, send its qualified
representatives to inspect during normal working hours any LNG Tanker as Seller may consider necessary to ascertain whether the LNG Tanker
complies with this Agreement. Seller shall bear all the costs and expenses in connection with any inspection conducted hereunder. Any
such inspection may include, as far as is practicable having regard to the LNG Tanker’s operational schedule, examination of the
records related to the LNG Tanker’s hull, cargo and ballast tanks, machinery, boilers, auxiliaries and equipment; examination of
the LNG Tanker’s deck, engine and official log books; review of records of surveys by the LNG Tanker’s classification society
and relevant Governmental Authorities; and review of the LNG Tanker’s operating procedures and performance of surveys, both in port
and at sea. Additionally, each LNG Tanker shall have been inspected and reported upon by a SIRE Accredited Inspector within six (6) Months
of the time of its initial use at the Driftwood LNG Terminal, and each LNG Tanker shall be reported upon by a SIRE Accredited Inspector
once every twelve (12) Months for the first ten (10) years of such LNG Tanker’s useful life and once every six (6) Months thereafter,
and each inspection report of such SIRE Accredited Inspector shall show, to the reasonable satisfaction of Seller, no material deficiencies
in the safety or operability of such LNG Tanker. Any inspection carried out pursuant to this Section 7.6.1: (a) shall not interfere
with, or hinder, any LNG Tanker’s safe and efficient construction or operation; and (b) shall not entitle Seller or any of
its representatives to make any request or recommendation directly to Transporter except through Buyer. No inspection (or lack thereof)
of an LNG Tanker hereunder shall: (i) modify or amend Buyer’s obligations, representations, warranties, and covenants hereunder;
or (ii) constitute an acceptance or waiver by Seller of Buyer’s obligations hereunder.

 

		7.6.2	Seller shall indemnify and hold Buyer and its Affiliates harmless from any Claims and Losses resulting
from Seller’s inspection of any LNG Tanker pursuant to Section 7.6.1.

 

		7.6.3	Buyer shall comply with all LNG Tanker vetting procedures, as set forth in the Driftwood Marine Operations
Manual.

 

		7.6.4	Seller shall have the right to reject any LNG vessel that Buyer intends to use to take delivery of LNG
hereunder at the Driftwood LNG Terminal if such LNG vessel does not comply materially with the provisions of this Section 7, provided
that:

 

		(a)	neither the exercise nor the non-exercise of such right shall reduce the responsibility of Buyer to Seller
in respect of such LNG vessel and her operation, nor increase Seller’s
responsibilities to Buyer or Third Parties for the same; and

 

		(b)	Buyer’s obligations under this Agreement shall not be excused or suspended by reason of Buyer’s
inability (pursuant to the foregoing) to use a vessel as an LNG Tanker.

 

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		7.7	Port Liability Agreement

 

		7.7.1	Buyer shall cause Transporter or the master of each LNG Tanker (acting on behalf of the ship-owner and
charterer) making use of the port or marine facilities at the Loading Port on behalf of Buyer, to execute a Port Liability Agreement prior
to the time at which Buyer or the master of the LNG Tanker gives the In-Transit Second Notice as required by Section 7.9.3(a). In the
event Transporter or the master of an LNG Tanker (acting on behalf of the ship-owner and charterer) fails to execute the Port Liability
Agreement, Buyer shall indemnify and hold Seller and each owner and operator of the Driftwood LNG Terminal or portion thereof harmless
from any Claims brought against, or Losses incurred by Seller or any owner and operator of Driftwood LNG Terminal or any portion thereof,
arising from such failure, and for which Transporter would have been liable had Transporter or the master executed such Port Liability
Agreement.

 

		7.7.2	Subject to Section 7.7.1 and without prejudice to the terms of the Port Liability Agreement, Seller releases
Buyer, its Affiliates and their respective shareholders and members, officers, directors, employees, designees, representatives, and agents
from liability to Seller incident to all Claims and Losses that may exist, arise or be threatened currently or in the future at any time
following the Effective Date and whether or not of a type contemplated by either Party at any time, brought by any Person for injury to,
illness or death of any employee of Seller, or for damage to or loss of the Driftwood LNG Terminal, which injury, illness, death, damage
or loss arises out of, is incident to, or results from the performance or failure to perform this Agreement by Buyer, or any of its Affiliates,
shareholders and members, officers, directors, employees, designees, representatives and agents.

 

		7.7.3	Subject to Section 7.7.1 and without prejudice to the terms of Section 12 or the Port Liability Agreement,
Buyer releases Seller and its Affiliates, Driftwood and its Affiliates, and their respective shareholders, officers, members, directors,
employees, designees, representatives, and agents from liability to Buyer incident to all Claims and Losses that may exist, arise or be
threatened currently or in the future at any time following the Effective Date and whether or not of a type contemplated by either Party
at any time, brought by any Person for injury to, illness or death of any employee of Buyer or its Affiliates, or for damage to or loss
of any LNG Tanker, which injury, illness, death, damage or loss arises out of, is incident to, or results from the performance or failure to perform
this Agreement by Seller or its Affiliates, Driftwood or its Affiliates, or their respective shareholders officers, members, directors,
employees, designees, representatives and agents.

 

		7.7.4	The form of Port Liability Agreement may be amended from time to time without consent of Buyer only if
after any such amendment the revised terms of such Port Liability Agreement: (a) do not negatively impact Buyer’s ability to perform
its obligations or exercise its rights under this Agreement, (b) treat Transporter in a non-discriminatory manner in comparison to all
other owners and charterers of LNG vessels that use or transit the Loading Port, and (c) do not prevent any Transporter from obtaining
full P&I indemnity coverage from a P&I Club, and such P&I indemnity will cover all Claims and Losses pursuant to such Port
Liability Agreement in relation to use of the Loading Port by an LNG Tanker. Seller shall promptly notify Buyer upon any amendment to
the Port Liability Agreement and shall provide a copy of the amended Port Liability Agreement to Buyer; provided, that, except
to the extent such amendment is required by Applicable Laws, International LNG Terminal Standards, International LNG Vessel Standards,
Third Parties, or the generally accepted standards prevailing in the LNG and/or LNG transportation industries, if as a direct result of
such amendment, Transporter is liable to the LNG Tanker’s P&I Club for an additional premium for the LNG Tanker’s P&I
indemnity coverage, and if Buyer is liable to Transporter for such additional premium, then Seller shall reimburse Buyer for such additional
premium, but only to the extent such additional premium relates to such LNG Tanker calling at the Loading Port.

 

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		7.8	Driftwood Marine Operations Manual

 

Seller shall deliver to Buyer prior to
the date that is one hundred eighty (180) Days prior to the start of the First Window Period for Plant 1, a copy of the marine operations
manual developed for the Driftwood LNG Terminal (as amended from time to time, the “Driftwood Marine Operations Manual”)
which governs activities at the Driftwood LNG Terminal, consistent with Applicable Laws and International Standards, and which applies
to each LNG Tanker and each other LNG vessel berthing at the Driftwood LNG Terminal. In the event of a conflict between this Agreement
and the Driftwood Marine Operations Manual, the provisions of this Agreement shall control. Seller shall promptly notify Buyer upon any
amendment to the Driftwood Marine Operations Manual and shall provide a copy of the amended Driftwood Marine Operations Manual to Buyer.
The Driftwood Marine Operations Manual shall be in line with those at similar liquefaction facilities located on the United States Gulf
Coast.

 

		7.9	Loading of LNG Tankers

 

		7.9.1	Except as otherwise specifically provided, the terms of this Section 7.9 shall apply to all LNG Tankers
calling at the Driftwood LNG Terminal.

 

		7.9.2	Not later than twenty (20) Days prior to the ETA, Buyer shall notify, or cause the master of the LNG Tanker
to notify Seller of the information specified below (“In-Transit First Notice”):

 

		(a)	name of the LNG Tanker, the volume of LNG onboard at the time the relevant notice is issued and the operator
and owner of such LNG Tanker;

 

		(b)	any operational deficiencies in the LNG Tanker that may affect either its performance at the Driftwood
LNG Terminal or its approach to or departure from the Driftwood LNG Terminal;

 

		(c)	whether the LNG Tanker will require cool-down service upon arrival at the Driftwood LNG Terminal, and,
if so, the quantity of LNG (in cubic meters) estimated to be required for such cool-down service;

 

		(d)	whether the LNG Tanker will require gas-up service upon arrival at the Driftwood LNG Terminal; and

 

		(e)	the ETA.

 

		7.9.3	With respect to each LNG Tanker scheduled to call at the Driftwood LNG Terminal, Buyer shall give, or
cause the master of the LNG Tanker to give, to Seller the following notices. Each such notice shall include details of any significant
change in the information provided pursuant to Section 7.9.2 (as updated pursuant to subsequent notices) since the immediately preceding
notice was given (including, subject to Sections 7.6 and 8.3, any change to the LNG Tanker):

 

		(a)	A second notice (“In-Transit Second Notice”), which shall be sent ninety-six (96) hours
prior to the ETA set forth in the In-Transit First Notice or as soon as practicable prior to such ETA if the sea time between the point
of departure of the LNG Tanker and the Loading Port is less than ninety-six (96) hours, stating the LNG Tanker’s then ETA. If, thereafter,
such ETA changes by more than six (6) hours, Buyer shall give promptly, or cause the master of the LNG Tanker to give promptly, to Seller
notice of the corrected ETA;

 

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		(b)	A third notice (“In-Transit Third Notice”), which shall be sent forty-eight (48) hours
prior to the ETA set forth in the In-Transit Second Notice (as corrected), confirming or amending such ETA. If, thereafter, such ETA changes
by more than six (6) hours, Buyer shall give promptly, or cause the master
of the LNG Tanker to give promptly, to Seller notice of the corrected ETA;

 

		(c)	A fourth notice (“In-Transit Fourth Notice”), which shall be sent twenty-four (24)
hours prior to the ETA set forth in the In-Transit Third Notice (as corrected), confirming or amending such ETA. If, thereafter, such
ETA changes by more than three (3) hours, Buyer shall give promptly, or cause the master of the LNG Tanker to give promptly, to Seller
notice of the corrected ETA;

 

		(d)	A fifth notice (“In-Transit Final Notice”), which shall be sent twelve (12) hours prior
to the ETA set forth in the In-Transit Fourth Notice (as corrected), confirming or amending such ETA. If, thereafter, such ETA changes
by more than one (1) hour, Buyer shall give promptly, or cause the master of the LNG Tanker to give promptly, to Seller notice of the
corrected ETA; and

 

		(e)	An NOR, which shall be given at the time prescribed in Section 7.10.

 

		7.9.4	Except where prohibited by any applicable Governmental Authority or International Standards, Buyer shall
have the right to cause an LNG Tanker to burn Gas as fuel during operations at the Driftwood LNG Terminal (including while conducting
cargo loading operations). Any quantity of Gas burned as fuel pursuant to this Section 7.9.4 shall be taken into account for purposes
of determining the quantity of LNG loaded in accordance with Exhibit A.

 

		7.9.5	Seller shall have a right to use or dispose of, or cause to be used or disposed of, all Gas returned to
the Driftwood LNG Terminal during cool-down or gas-up operations without compensation to Buyer. Seller shall have a right to use or dispose
of, or cause to be used or disposed of, all Gas returned to the Driftwood LNG Terminal during loading operations, provided that Gas returned
to the Driftwood LNG Terminal during loading shall be deducted for determining the quantity loaded for Buyer’s account in accordance
with Paragraph 11(c)(ii) of Exhibit A and the formula set out in Paragraph 12.4 of Exhibit A.

 

		7.10	Notice of Readiness

 

		7.10.1	The master of an LNG Tanker or such master’s agent shall tender the NOR to Seller upon arrival at
the PBS or any customary anchorage location for LNG vessels seeking to transit the Calcasieu ship channel, provided that such LNG Tanker
has received all required Approvals from the relevant Governmental Authorities (including security clearance from the United States Coast
Guard) that are required to transit to a berth of the Driftwood LNG Terminal, and is ready, willing,
and able, to proceed to berth and load LNG or to commence cool-down or gas-up operations (as applicable).

 

		7.10.2	A valid NOR given under Section 7.10.1 shall become effective as follows:

 

		(a)	for an LNG Tanker that tenders its NOR according to Section 7.10.1 at any time prior to the Delivery
Window allocated to such LNG Tanker, an NOR shall become effective at the earlier of (i) the time when the LNG Tanker is all fast at a
berth of the Driftwood LNG Terminal; and (ii) six (6) hours after the time of its issuance; but not before the Delivery Window has started
or Seller has notified the LNG Tanker that Seller is ready to receive the LNG Tanker;

 

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		(b)	for an LNG Tanker that tenders its NOR according to Section 7.10.1 at any time during the Delivery
Window allocated to such LNG Tanker, a valid NOR shall become effective six (6) hours after the time of its issuance; and

 

		(c)	for an LNG Tanker that tenders its NOR according to Section 7.10.1 at any time after the expiration
of the Delivery Window, an NOR shall become effective when the LNG Tanker is all fast at a berth of the Driftwood LNG Terminal.

 

		7.11	Berthing Assignment

 

		7.11.1	Seller shall berth or cause to be berthed an LNG Tanker which has tendered NOR before or during its
                                                                       Delivery Window promptly after Seller determines such LNG Tanker will not interfere with berthing and loading of any other scheduled
                                                                       LNG vessel with a higher berthing priority but in no event later than the end of the Delivery Window allocated to such LNG Tanker; provided,
                                                                       however, that if Seller does not berth or cause to be berthed such LNG Tanker by the end of the Delivery Window, (a) Seller
                                                                       shall use reasonable efforts to berth or cause to be berthed such LNG Tanker within forty-eight (48) hours after the end of its
                                                                       Delivery Window, (b) Buyer shall use reasonable efforts to cause the LNG Tanker to remain at the PBS or applicable anchorage
                                                                       location for the Driftwood LNG Terminal, and (c) Buyer’s sole recourse and remedy during such period of time for
                                                                       Seller’s failure to berth or cause to be berthed the LNG Tanker by the end of the Delivery Window shall be demurrage pursuant
                                                                       to Section 7.12.3, payment for excess boil-off pursuant to Section 7.12.4 and provision by Seller of a cool-down pursuant to Section
                                                                       7.16.1(b). If (i) at any time during such forty-eight (48) hour period, Buyer is no longer able, having used reasonable efforts, to
                                                                       cause the LNG Tanker to remain at the PBS or applicable anchorage location, or (ii) the forty-eight (48) hour period expires, and in
                                                                       either case Seller has not berthed or caused to be berthed the LNG Tanker, and such delay is not attributable to a reason that would
                                                                       result in an extension of Allotted Laytime under Section 7.12.1, then Seller shall be deemed to have failed to make the
Scheduled Cargo Quantity of the relevant cargo available for delivery and the provisions of Sections 5.6.2 to 5.6.4 shall apply. Notwithstanding
the foregoing, if, as a result of the Driftwood LNG Terminal not being ready to berth for reasons attributable to Buyer or Buyer’s
Affiliates, Seller fails to make available a cargo, then Buyer shall be deemed to have failed to take such cargo and the provisions of
Sections 5.7.2 to 5.7.7 shall apply.

 

		7.11.2	For each delivery window period, Seller shall determine or cause to be determined the berthing priority
among LNG vessels which have tendered NOR before or during their scheduled delivery window as follows:

 

		(a)	The first berthing priority for a delivery window period shall be for an LNG vessel scheduled for such
delivery window period. Priority within this group shall be given to the LNG vessel which has first tendered to Seller its NOR. Once an
LNG vessel achieves a first berthing priority pursuant to this Section 7.11.2(a) or 7.11.2(c), such LNG vessel shall maintain such priority
until such LNG vessel is berthed, so long as its tendered NOR does not become invalid pursuant to Section 7.13.1;

 

		(b)	The second berthing priority for a delivery window period shall be for an LNG vessel scheduled for arrival
before such delivery window period, which tendered to Seller its NOR prior to or during its scheduled delivery window but which was unable
to proceed to berth for reasons not attributable to Buyer, the Transporter, the LNG Tanker or its master, crew, owner or operator. Priority
within this group shall be given to the LNG vessel which has first tendered to Seller its NOR; and

 

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		(c)	The third berthing priority for a delivery window period shall be for an LNG vessel scheduled for arrival
after such delivery window period. Priority within this group shall be given to the LNG vessel which has first tendered to Seller its
NOR. An LNG vessel with third berthing priority pursuant to this Section 7.11.2(c) will achieve a first berthing priority on its scheduled
delivery window pursuant to Section 7.11.2(a) if such LNG vessel has not been berthed prior to such date, so long as its tendered NOR
does not become invalid pursuant to Section 7.13.1.

 

		7.11.3	If an LNG Tanker tenders NOR after the end of its Delivery Window, Seller shall use reasonable efforts
to berth or cause to be berthed such LNG Tanker as soon as reasonably practical; provided, however, that, unless otherwise agreed
with Buyer, Seller shall have no obligation to use such efforts to berth or cause to be berthed an LNG Tanker that tenders NOR more than
forty-eight (48) hours after the end of its Delivery Window. If, as of the forty-eighth (48th) hour after the end of the Delivery Window,
the LNG Tanker has not tendered NOR, and such
delay is not attributable to a reason that would result in an extension of Allowed Laytime under Sections 7.13.2(a)(i)-(viii), Buyer shall
be deemed to have failed to take delivery of the Scheduled Cargo Quantity of the relevant cargo and the provisions of Sections 5.7.2 to
5.7.7 shall apply.

 

		7.12	Berth Laytime

 

		7.12.1	The allotted laytime for each LNG Tanker (“Allotted Laytime”) shall be thirty (30)
hours, as extended by any period of delay that is caused by:

 

		(a)	reasons attributable to a Governmental Authority, Buyer, the Transporter, the LNG Tanker or its master,
crew, owner or operator or any Third Party outside of the reasonable control of Seller or the operator of the Driftwood LNG Terminal,
including security clearance review by the United States Coast Guard;

 

		(b)	Force Majeure or Adverse Weather Conditions;

 

		(c)	unscheduled curtailment or temporary discontinuation of operations at the Driftwood LNG Terminal necessary
for reasons of safety, except to the extent such unscheduled curtailment or temporary discontinuation of operations is due to Seller’s
failure to operate and maintain its facilities as a Reasonable and Prudent Operator;

 

		(d)	time at berth during any cool-down pursuant to Sections 7.16.1(a) and (c);

 

		(e)	time at berth during any gas-up pursuant to Section 7.17;

 

		(f)	nighttime transit restrictions, if applicable;

 

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		(g)	time to transit from the PBS or anchorage location, as applicable, to a berth of the Driftwood LNG Terminal,
in the event NOR becomes effective pursuant to Section 7.10.2(a)(ii) or 7.10.2(b)‎;

 

		(h)	tidal restrictions; and

 

		(i)	any other interruption impacting the Loading Port, including the unavailability or delay of Pilot services,
tugs, and other similar interruptions, to the extent such interruptions are not caused by reasons attributable to Seller or the operator
of the Driftwood LNG Terminal.

 

		7.12.2	The actual laytime for each LNG Tanker (“Actual Laytime”) shall commence when the
                                                                       NOR is effective, and shall end when the last loading arm of the Driftwood LNG Terminal has been disconnected from the LNG Tanker and Seller or the operator of
the Driftwood LNG Terminal has cleared the LNG Tanker for departure.

 

		7.12.3	In the event Actual Laytime exceeds Allotted Laytime (as extended pursuant to Section 7.12.1) (“Demurrage
Event”), Seller shall pay to Buyer as liquidated damages demurrage in USD (which shall be prorated for a portion of a Day) at
a rate equal to USD [***] (US$[***]) per Day. If a Demurrage Event occurs, Buyer shall invoice Seller for such demurrage within ninety
(90) Days pursuant to Section 10.1.4. Any payment that Seller makes under this Section 7.12.3 shall not be treated as an indirect, incidental,
consequential, punitive or exemplary loss or a loss of income or profits for purposes of Section 15.2.1.

 

		7.12.4	In the event (a) an LNG Tanker is delayed in berthing at the Driftwood LNG Terminal or commencement of
LNG loading due to an event occurring at or near the Driftwood LNG Terminal (including at the berth) and for a reason that would not result
in an extension of Allotted Laytime under Section 7.12.1, and (b) as a result thereof, the commencement of LNG loading is delayed beyond
twenty-four (24) hours after the LNG Tanker (i) has either tendered a valid NOR or berthed and (ii) is cleared by the Governmental Authorities
to commence loading, Seller shall pay Buyer as liquidated damages an amount, on account of excess boil-off. The amount payable shall equal
(x) the total number of full hours by which commencement of LNG loading is delayed beyond the aforementioned twenty-four (24) hour period,
multiplied by (y) the CSP, multiplied by (z) a quantity in MMBtu equal to (A) the guaranteed daily ballast rate of boil-off
of such LNG Tanker pursuant to Form B of the relevant charterparty or similar description provided by the LNG Tanker’s owner in
the relevant charterparty, divided by (B) twenty-four (24) hours per Day, multiplied by (C) the cargo containment capacity
of such LNG Tanker (in MMBtu), provided that in no event shall such quantity of MMBtu exceed the quantity of LNG onboard the LNG Tanker
at the time it issued its valid NOR. Buyer shall invoice Seller for such excess boil-off within ninety (90) Days after the applicable
event, pursuant to Section 10.1.4. Any payment that Seller makes under this Section 7.12.4 shall not be treated as an indirect, incidental,
consequential, punitive or exemplary loss or a loss of income or profits for purposes of Section 15.2.1.

 

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		7.13	LNG Tanker Not Ready for LNG Loading; Excess Laytime

 

		7.13.1	Except in the event Seller provides a cool-down service under Section 7.16.1(b), if any LNG
                                                                       Tanker previously believed to be ready for LNG loading is determined to be not ready after being berthed for reasons not
                                                                       attributable to Seller or the operator of the Driftwood LNG Terminal, the NOR shall be invalid, and Seller may direct the LNG
                                                                       Tanker’s master to vacate the berth and proceed to anchorage, whether or not other LNG vessels are awaiting the berth, unless
                                                                       it appears reasonably certain to Seller that such LNG Tanker can be made ready
without disrupting the overall berthing schedule of the Driftwood LNG Terminal or operations of the Driftwood LNG Terminal. When an unready
LNG Tanker at anchorage becomes ready for LNG loading, its master shall notify Seller. If, as a result of such LNG Tanker not being ready
to berth for reasons not attributable to Seller or the operator of the Driftwood LNG Terminal, Buyer fails to take a cargo, the provisions
of Sections 5.7.2 to 5.7.7 shall apply. If, as a result of such LNG Tanker not being ready to berth for reasons attributable to Seller
or the operator of the Driftwood LNG Terminal, Buyer fails to take a cargo, Seller shall be deemed to have failed to make available such
cargo and the provisions of Sections 5.6.2 to 5.6.4 shall apply.

 

		7.13.2	The following shall apply with respect to berthing:

 

		(a)	An LNG Tanker shall complete LNG loading and vacate the berth as soon as possible but not later than thirty
(30) hours from the time the LNG Tanker is all fast at the berth and has received all required Approvals from the relevant Governmental
Authorities (including security clearance from the United States Coast Guard). Such thirty (30) hour-period (“Allowed Laytime”)
shall be extended by any period of delay that is caused by:

 

		(i)	reasons attributable to a Governmental Authority, Seller, the operator of the Driftwood LNG Terminal or
any Third Party outside the reasonable control of Buyer, the Transporter, the LNG Tanker or its master, crew, owner or operator;

 

		(ii)	Force Majeure or Adverse Weather Conditions;

 

		(iii)	unscheduled curtailment or temporary discontinuation of operations at the Driftwood LNG Terminal necessary
for reasons of safety, except to the extent such unscheduled curtailment or temporary discontinuation of operations is attributable to
Buyer, the Transporter, the LNG Tanker or its master, crew, owner or operator;

 

		(iv)	time at berth during any cool-down pursuant to Sections 7.16.1(a)-(c);

 

		(v)	time at berth during any gas-up pursuant to Section 7.17;

 

		(vi)	nighttime transit restrictions, if applicable;

 

		(vii)	tidal restrictions; and

 

		(viii)	any other interruption impacting the Loading Port, including the unavailability or delay of Pilot services,
tugs, and other similar interruptions, to the extent such interruptions are not caused by reasons attributable to Buyer,
the Transporter, the LNG Tanker or its master, crew, owner or operator.

 

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		(b)	If an LNG Tanker fails to depart at the end of its Allowed Laytime (as extended pursuant to Sections 7.13.2(a)(i)-(viii)),
another LNG vessel is awaiting the berth and the LNG Tanker’s continued occupancy of the berth will disrupt the overall berthing
schedule of the Driftwood LNG Terminal or operations of the Driftwood LNG Terminal, Seller may direct the LNG Tanker to vacate the berth
and proceed to sea at utmost dispatch.

 

		(c)	If an LNG Tanker fails to depart the berth at the end of its Allowed Laytime (as extended pursuant to
Sections 7.13.2(a)(i)-(viii)) and as a result the subsequent LNG vessel is prevented from or delayed in loading, Buyer shall reimburse
Seller for any and all actual documented demurrage or excess boil-off that Seller becomes contractually obligated to pay to any Third
Party with respect to such subsequent LNG vessel, as a result of the LNG Tanker not completing LNG loading and vacating the berth as required
by this Section 7.13.2; provided that Buyer shall not be required to reimburse Seller for any amounts based on a demurrage rate
or excess boil-off rate in excess of those specified in Section 7.12.3 and Section 7.12.4, as applicable. Seller shall invoice Buyer for
any amounts due under this Section 7.13.2(c) pursuant to Section 10.1.4 within ninety (90) Days after the relevant Delivery Window.

 

		(d)	In the event an LNG Tanker fails to vacate the berth pursuant to this Section 7.13 and Buyer is not taking
actions to cause it to vacate the berth, Seller may effect such removal at the expense of Buyer.

 

		7.14	LNG Loadings at the Driftwood LNG Terminal

 

		7.14.1	Seller shall cooperate with Transporters (or their agents) and with the master of each LNG Tanker to facilitate
the continuous and efficient loading of LNG hereunder.

 

		7.14.2	During LNG loading, Seller shall take receipt of, through the Driftwood LNG Terminal vapor return line,
Gas in such quantities as are necessary for the safe loading of LNG at such rates, pressures and temperatures as may be required by the
design of the LNG Tanker or any standard operating practices of such LNG Tanker, provided such practices conform to International LNG
Vessel Standards.

 

		7.14.3	Promptly after completion of loading of each cargo, Seller shall send or cause to be sent to Buyer a
                                                                       certificate of origin, certificate of quantity, certificate of quality, cargo manifest and bill of lading, together with such other documents concerning the cargo
as may reasonably be requested by Buyer.

 

		7.14.4	Buyer, in cooperation with Seller, shall cause the LNG Tanker to depart safely and expeditiously from
the berth upon completion of LNG loading.

 

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		7.15	Cooperation

 

If any circumstance occurs or is foreseen
to be reasonably likely to occur so as to cause delay to an LNG Tanker or any other LNG vessel in berthing, loading or departing, Buyer
and Seller shall, without prejudice to any other provision of this Agreement, discuss such circumstance in good faith with each other,
and the Parties shall use reasonable efforts to minimize or to avoid the delay, and at the same time shall cooperate with each other and
with such other users of the Loading Port, as appropriate, to find countermeasures to minimize or to avoid the occurrence of any similar
delay in the future.

 

		7.16	Cool-Down of LNG Tankers

 

		7.16.1	Buyer shall be solely responsible for ensuring that each LNG Tanker elected by Buyer for taking a cargo
arrives at the Driftwood LNG Terminal cold and in a state of readiness. Notwithstanding the foregoing and subject to Section 7.16.2, Seller
shall provide cool-down service to LNG Tankers at Buyer’s request as follows:

 

		(a)	Seller shall use reasonable efforts (taking into account availability of sufficient berth time) to accept
Buyer’s request to provide cool-down service for any LNG Tanker, subject to Buyer requesting such cool-down service by notice to
Seller as far in advance of the relevant cargo’s Delivery Window as is reasonably practicable but in no case less than thirty (30)
Days before the relevant cargo’s Delivery Window, provided that Seller shall accept Buyer’s request to provide a cool-down
service if Buyer makes such request by notice at the time Buyer proposes its schedule of receipt of cargoes pursuant to Section 8.1.2
for the relevant Contract Year. Seller shall have no obligation pursuant to this Section 7.16.1(a) to provide cool-down services for more
than one (1) LNG Tanker during any two (2) consecutive Contract Years (provided that any cool-down services which may be agreed to be
provided as a result of mitigation of a Force Majeure event shall not be counted towards such limitation). Buyer shall pay Seller for
all LNG provided by Seller for cooling such LNG Tankers in an amount equal to the quantity of LNG provided, multiplied by the CSP.

 

		(b)	Seller shall provide cool-down service without payment to any LNG Tankers requiring cool-down solely as
a result of a delay caused by Seller, but only if such LNG Tanker made
no other call between the original Delivery Window and the requested cool-down time.

 

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		(c)	Seller shall use reasonable efforts, contingent on the availability of sufficient berth time and facilities
status, to provide cool-down service at any time other than as described in Sections 7.16.1(a)-(b) upon request by Buyer, provided that
Buyer shall pay Seller for all LNG provided by Seller for cooling such LNG Tankers in an amount equal to the quantity of LNG provided,
multiplied by the CSP; provided, further, that Seller shall have no obligation to provide such cool-down service if doing so would
interfere with a scheduled Delivery Window of Buyer or a scheduled delivery window of any other Person.

 

		7.16.2	The following shall apply to any cool-down service provided by Seller pursuant to Section 7.16.1:

 

		(a)	the MMBtu content of the total liquid quantities delivered for cooling, measured before evaporation, shall
be determined by reference to the relevant LNG Tanker’s cool-down tables;

 

		(b)	the Parties will determine by mutual agreement the rates and pressures for delivery of LNG for cool-down,
but always in full accordance with safe operating parameters and procedures established by Seller;

 

		(c)	LNG provided during cool down by Seller pursuant to Section 7.16.1 shall not be applied against the Scheduled
Cargo Quantity for the relevant cargo; and

 

		(d)	unless cool-down services are agreed to be provided in the mitigation of Force Majeure, cool-down service
shall not be provided during January, February, March, October, November or December of any Contract Year, provided that if Buyer requests
cool-down service during such period, then Seller shall use commercially reasonable efforts to provide cool-down service during such period.

 

		7.17	Gas-Up of LNG Tankers

 

		7.17.1	Seller shall use reasonable efforts to obtain all relevant Approvals needed to offer gas-up service to
LNG Tankers at the Driftwood LNG Terminal.

 

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		7.17.2	Notwithstanding the first sentence of Section 7.16.1 and subject to Section 7.17.3, to the extent
Seller has all relevant Approvals needed to offer gas-up service to LNG Tankers at the Driftwood LNG Terminal and such services is otherwise
permitted under Applicable Law, Seller shall provide gas-up service to LNG Tankers at Buyer’s request as follows:

 

		(a)	Buyer’s request for gas-up service in respect of an LNG Tanker shall be provided at the same time
that Buyer requests cool-down service in respect of such LNG Tanker pursuant to Section 7.16.

 

		(b)	Seller shall use reasonable efforts (taking into account availability of sufficient berth time) to accept
Buyer’s request to provide gas-up service for any LNG Tanker, subject to Buyer requesting such gas-up service by notice to Seller
as far in advance of the relevant cargo’s Delivery Window as is reasonably practicable but in no case less than thirty (30) Days
before the relevant cargo’s Delivery Window, provided that Seller shall accept Buyer’s request to provide a gas-up service
if Buyer makes such request by notice at the time Buyer proposes its schedule of receipt of cargoes pursuant to Section 8.1.2 for the
relevant Contract Year.

 

		(c)	Seller shall use reasonable efforts, contingent on the availability of sufficient berth time and facilities
status, to provide gas-up service at any time other than as described in Section 7.17.2(b) upon request by Buyer, provided that Seller
shall have no obligation to provide such gas-up service if doing so would interfere with a scheduled Delivery Window of Buyer or a scheduled
delivery window of any other Person, would adversely affect the ability of Seller to perform its other obligations under this Agreement
and other LNG sale and purchase agreements or would adversely affect the ability of Seller to operate the Driftwood LNG Terminal in accordance
with all Approvals and Applicable Law.

 

		7.17.3	The following shall apply to any gas-up service provided by Seller pursuant to Section 7.17.2:

 

		(a)	the Parties will determine by mutual agreement the rates and pressures for delivery of Gas for gas-up
service, but always in full accordance with safe operating parameters and procedures established by Seller;

 

		(b)	gas-up service shall only be provided to an LNG Tanker that is also entitled to receive, and is receiving,
immediately after such gas-up service, cool-down service pursuant to Section 7.16;

 

		(c)	without prejudice to any amounts owed by Buyer for cool-down service provided pursuant to Section 7.16
to an LNG Tanker that also receives gas-up service pursuant to this Section 7.17, Buyer shall not be obligated to make a payment to Seller
for gas-up service; provided that Buyer shall pay Seller for all LNG provided by Seller for each gas-up, in an amount equal to the quantity
of LNG provided, multiplied by the CSP;

 

		(d)	gas-up service shall not be provided during January, February, March, October, November or December of
any Contract Year, provided that if Buyer requests gas-up service during such period, then Seller shall use commercially reasonable efforts
to provide gas-up service during such period; and

 

		(e)	gas-up service shall only be available for LNG Tankers under nitrogen purge, provided that the Parties,
acting reasonably, will discuss the acceptance of LNG Tankers under inert gas, if Buyer can demonstrate unavailability of nitrogen and
if Seller is able to accommodate, including taking into consideration operational and regulatory requirements.

 

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		8.	Annual Delivery Program

 

		8.1	Programming Information

 

		8.1.1	No later than one hundred eighty (180) Days before the start of each Contract Year, Seller shall provide
Buyer with:

 

		(a)	Seller’s good faith estimate of the Gross Heating Value of LNG to be delivered during such Contract
Year; and

 

		(b)	the Major Scheduled Maintenance Quantity for such Contract Year, if any.

 

		8.1.2	No later than one hundred ten (110) Days before the start of each Contract Year, Buyer shall notify Seller
of Buyer’s proposed schedule of receipt of cargoes for each Month of such Contract Year. Such schedule shall identify sufficient
proposed cargoes in order to schedule the full AACQ, and such AACQ shall be distributed across the Contract Year in accordance with Section
5.3. Buyer’s notice shall include the following information:

 

		(a)	the LNG Tanker (if known) for each proposed cargo;

 

		(b)	the Scheduled Cargo Quantity for each proposed cargo;

 

		(c)	the proposed Delivery Window for each cargo;

 

		(d)	Buyer’s request (if any) for a Round-Up Quantity for such Contract Year; and

 

		(e)	any other information that Buyer anticipates may affect annual scheduling.

 

Buyer shall also inform Seller of any
anticipated periods for maintenance to be conducted with respect to the LNG Tankers identified in (a) above.

 

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		8.1.3	Seller will then notify Buyer no later than eighty-five (85) Days before the start of such Contract Year
of Seller’s proposed schedule of cargoes to be made available in each Month of such Contract Year, exercising reasonable efforts
to adopt Buyer’s proposed schedule of receipts requested in accordance with Section 8.1.2; provided that (x) if Buyer fails
to deliver the notice according to Section 8.1.2, Seller may nevertheless propose a schedule according to the terms of this Section 8.1.3,
and (y) Seller shall have the right to modify Buyer’s proposed schedule to the extent required to ensure that the entire AACQ is
scheduled and to comply with the other requirements of this Agreement, including the terms of Section 5.3. Such notice shall include the
following information:

 

		(a)	the proposed AACQ for the Contract Year;

 

		(b)	the proposed Round-Up Quantity (if any) or Round-Down Quantity (if any) for the Contract Year;

 

		(c)	any Round-Down Quantity not taken in the previous Contract Year and carried forward to the current Contract
Year;

 

		(d)	any Round-Up Quantity taken in the previous Contract Year and carried forward as a deduction in the current
Contract Year;

 

		(e)	the Major Scheduled Maintenance Quantity (if any) for the Contract Year identified by Seller pursuant
to Section 8.1.1(b);

 

		(f)	for each cargo:

 

		(i)	the loading terminal if changed from Driftwood LNG Terminal pursuant to Section 3.1.2;

 

		(ii)	the LNG Tanker (if specified by Buyer);

 

		(iii)	the Scheduled Cargo Quantity, if any, specified in the notice sent by Buyer pursuant to Section 8.1.2;
and

 

		(iv)	the proposed Delivery Window; and

 

		(g)	any other information that may affect annual scheduling.

 

		8.2	Determination of Annual Delivery Program

 

		8.2.1	No later than ten (10) Days after receipt of Seller’s proposed schedule provided under Section 8.1.3,
Buyer shall notify Seller if Buyer desires to consult with Seller regarding the proposed schedule, including (a) if Seller has not requested
a Round-Up Quantity pursuant to Section 8.1.3(b), whether Buyer desires to request a Round-Up Quantity in accordance with Section 5.4.2,
or (b) if Seller has requested a Round-Up Quantity pursuant to Section 8.1.3(b), whether Buyer is
unable, despite its exercise of reasonable efforts, to schedule the receipt of the additional LNG. Seller shall, no later than fifteen
(15) Days after receipt of Buyer’s notice, meet and consult with Buyer.

 

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		8.2.2	If, prior to the date that is sixty (60) Days before the start of a Contract Year, the Parties have agreed
on a schedule of deliveries for such Contract Year, then Seller shall issue the delivery schedule agreed by the Parties. If the Parties
are unable to agree on a schedule of deliveries for such Contract Year, then no later than sixty (60) Days before the start of such Contract
Year, Seller shall issue the delivery schedule for such Contract Year containing the information set forth in Section 8.1.3, modified
to reflect any changes agreed by the Parties pursuant to Section 8.2.1 and to reflect any changes required by Section 5.4 to Seller’s
proposal pursuant to Section 8.1.3(b) for a Round-Up Quantity or Round-Down Quantity. The schedule promulgated by Seller shall reflect
the exercise of reasonable efforts by Seller to (i) assign to Buyer Delivery Windows that are as close as reasonably practicable to the
Delivery Windows proposed by Buyer pursuant to Section 8.1.2, and (ii) specify the Scheduled Cargo Quantity with respect to each LNG Tanker
as notified by Buyer pursuant to Section 8.1.2; provided, that Seller shall have the right to issue a schedule with different terms
to the extent required to ensure that the entire AACQ is scheduled and to comply with the other requirements of this Agreement, including
the terms of Section 5.3. Seller shall provide for delivery of the AACQ in accordance with Section 5.3.

 

		8.2.3	In assigning Delivery Windows in the ADP under Section 8.2.2, (a) requests of Buyer made pursuant to this
Agreement and requests of other Foundation Customers will be given priority over the requests of Seller’s customers that are not
Foundation Customers; and (b) requests of each Foundation Customer will be treated on a non-discriminatory basis as compared to requests
of other Foundation Customers.

 

		8.2.4	The schedule for deliveries of LNG during the Contract Year established pursuant to this Section 8.2,
as amended from time to time in accordance with Section 8.3, is the “Annual Delivery Program” or “ADP”.
If Seller fails to issue the schedule provided for in Sections 8.1.3 or 8.2.2, if applicable, then the schedule proposed by Buyer under
Section 8.1.2 shall be the ADP for the relevant Contract Year.

 

		8.2.5	Seller shall combine the ADP with the annual delivery programs of all other Driftwood LNG Terminal
                                                                      buyers and provide to Buyer a combined schedule (the “Composite ADP”) showing all delivery windows and scheduled
                                                                      cargo quantities that have been committed by Seller, along with available, uncommitted loading windows at the Driftwood LNG
                                                                      Terminal. Seller shall promptly update the Composite ADP as the ADP is changed pursuant to Section 8.3 or other Driftwood LNG
                                                                      Terminal buyers’ annual delivery programs are changed pursuant
to their respective LNG sale and purchase agreements.

 

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		8.2.6	All references in Section 8.1 and this Section 8.2 to a specific number of Days prior to the start of
a Contract Year shall be construed to mean, for purposes of the First Contract Year, as such number of Days prior to the anticipated First
DFCD.

 

		8.3	Changes to Annual Delivery Program

 

		8.3.1	Subject to the remainder of this Section 8.3, either Party may request by notice a change in the ADP or
Ninety Day Schedule for a Contract Year for any reason.

 

		8.3.2	As soon as possible after notice has been received pursuant to this Section 8.3, the Parties shall consult
with one another in order to examine whether such ADP or Ninety Day Schedule can be revised to accommodate such proposed change(s). Neither
Party shall unreasonably withhold or delay its consent to revise the ADP or Ninety Day Schedule in accordance with changes proposed by
the other Party; provided that neither Party shall be under any obligation to consent thereto if:

 

		(a)	in the case of Seller, (i) Seller is unable to agree after the exercise of reasonable efforts to any necessary
changes in its arrangements with its Driftwood LNG Terminal buyers, (ii) the requested change would impose additional costs (unless Buyer
agrees to reimburse such costs) or risks upon Seller, or (iii) the requested change would increase the total quantities scheduled hereunder
or decrease the total quantities scheduled hereunder; or

 

		(b)	in the case of Buyer, (i) Buyer is unable to agree after the exercise of reasonable efforts to any necessary
changes in its arrangements with Transporter or Buyer’s customers, (ii) the requested change would impose additional costs (unless
Seller agrees to reimburse such costs) or risks upon Buyer, or (iii) the requested change would increase the total quantities scheduled
hereunder or decrease the total quantities scheduled hereunder.

 

		8.3.3	A Party shall not withhold or delay its consent to revise the ADP or Ninety Day Schedule if the proposed
change: (a) complies with the terms of this Agreement and Applicable Laws; (b) by the exercise of reasonable efforts on the part of such
Party, does not create a material adverse impact on health, safety, environment or the operations of such Party; (c) does not result in
unreimbursed increased costs or decreased revenues to such Party; and (d) results in no change to the total quantities scheduled hereunder.

 

		8.3.4	Upon a scheduling change pursuant to this Section 8.3, the ADP and, if applicable, the Ninety Day Schedule
shall be amended accordingly and an updated ADP and, if applicable, an updated
Ninety Day Schedule shall promptly be provided in writing by Seller to Buyer.

 

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		8.4	Ninety Day Schedule

 

		8.4.1	No later than the twenty-fifth (25th) Day of each Month, Seller shall issue a forward plan of deliveries
for the three (3)-Month period commencing on the first (1st) Day of the following Month thereafter (e.g., the Ninety Day Schedule for
the three (3)-Month period commencing on May 1st shall be issued no later than the twenty-fifth (25th) Day of April) (such plan, as amended
from time to time in accordance with procedures set forth in this Agreement, the “Ninety Day Schedule”). The Ninety
Day Schedule shall set forth by cargo the forecast pattern of deliveries, including the Delivery Window, LNG Tanker and Scheduled Cargo
Quantity for each cargo. In the absence of agreement between the Parties otherwise, the Ninety Day Schedule will maintain the Scheduled
Cargo Quantities and Delivery Windows as identified in the ADP.

 

		8.4.2	Seller shall combine the Ninety Day Schedule with the ninety day schedules of all other Driftwood LNG
Terminal buyers and provide to Buyer a combined schedule (the “Composite Ninety Day Schedule”) showing all delivery
windows and scheduled cargo quantities that have been committed by Seller, along with available, uncommitted loading windows at the Driftwood
LNG Terminal. Seller shall promptly update the Composite Ninety Day Schedule as the Ninety Day Schedule is changed pursuant to Section
8.3 or 8.4.1 or other Driftwood LNG Terminal buyers’ ninety day schedules are changed pursuant to their respective LNG sale and
purchase agreements.

 

		8.5	Alternative LNG Tanker

 

Without prejudice to Section ‎14.2.3,
in respect of each cargo of LNG scheduled in the ADP or Ninety Day Schedule, Buyer may nominate an alternative LNG Tanker (each an “Alternative
LNG Tanker”); provided that any Alternative LNG Tanker shall be subject to and comply with all requirements for LNG Tankers
under this Agreement and be able to safely load the Scheduled Cargo Quantity as agreed in the Ninety Day Schedule. Any change to the Scheduled
Cargo Quantity shall be made in accordance with Section 8.3 or 8.4, as applicable.

 

		9.	Contract Sales Price

 

		9.1	Contract Sales Price

 

		9.1.1	Except as otherwise provided pursuant to Sections 9.1.2, 9.1.3 and 14.3.4, the contract sales price (“CSP”)
(expressed in USD per MMBtu rounded to two decimal places) for all LNG made available by Seller to Buyer under this Agreement shall be
as follows:

 

CSP = greater of
(a) {([***]% x JKM) – US$[***]/MMBtu} and (b) US$[***]/MMBtu

 

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where:

 

“JKM” means an amount
expressed in USD per MMBtu equal to the arithmetic average of all the JKM (M) frontline quotations published in the “DES Japan/Korea
Marker (JKM)” price table for each Platts Business Day, as published in Platts LNG Daily in the “DES Japan/Korea Marker (JKM)”
price table, during the Assessment Period;

 

where:

 

“Assessment Period”
means the period covering the second half (sixteenth (16th) to month end (unless the sixteenth (16th) is not a Platts
Business Day, in which case the next Platts Business Day until month end)) of M-2 month and the first half (first (1st) to
fifteenth (15th) (unless the fifteenth (15th) of that month is not a Platts Business Day, in which case the first
half will end on the day immediately before the next Platts Business Day)) of M-1 month;

 

“M” means the Month
[***];

 

“Platts Business Day” means
a Day in respect of which Platts LNG Daily published prices for “DES Japan/Korea Marker (JKM)”; and

 

“Platts LNG Daily”
means the publication of that same name published by S&P Global, a division of S&P Global Inc.

 

		9.1.2	Except as otherwise provided pursuant to Section 14.3.4, the CSP (expressed in USD per MMBtu rounded to
two decimal places) for all LNG made available by Seller to Buyer under this Agreement during the first extension under Section 4.1.2,
if any, shall be as follows:

 

CSP = greater of
(a) {([***]% x JKM) – US$[***]/MMBtu} and (b) US$[***]/MMBtu

 

		9.1.3	Except as otherwise provided pursuant to Section 14.3.4, the CSP (expressed in USD per MMBtu rounded to
two decimal places) for all LNG made available by Seller to Buyer under this Agreement during the second extension under Section 4.1.2,
if any, shall be as follows:

 

CSP = greater of
(a) {([***]% x JKM) – US$[***]/MMBtu} and (b) US$[***]/MMBtu

 

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		10.	Invoicing and Payment

 

		10.1	Invoices

 

		10.1.1	Invoices for Cargoes. Invoices for each cargo made available by Seller and taken by Buyer, together
with relevant supporting documents including a certificate of quantity loaded, shall be prepared and delivered by Seller to Buyer promptly
following each Delivery Window and receipt of the final inspection certificate applicable to the loading of such cargo. The invoice amount
shall be the CSP, multiplied by the quantity of LNG loaded on the LNG Tanker as calculated pursuant to Section 13.9.

 

		10.1.2	Invoices for Cargo DoP Payments. Invoices for Cargo DoP Payments owed to Buyer by Seller shall
be prepared by Buyer and delivered to Seller promptly following the Delivery Window of each affected cargo.

 

		10.1.3	Invoices for Cargo Shortfall Payments. Invoices for Cargo Shortfall Payments owed to Seller by
Buyer shall be prepared by Seller and delivered to Buyer promptly following the Delivery Window for each affected cargo. Invoices for
any amounts owed to Buyer by Seller pursuant to Section 5.7.6 shall be prepared by Seller and delivered to Buyer as soon as reasonably
practicable.

 

		10.1.4	Invoices for Various Sums Due. In the event that any sums are due from one Party to the other Party
under Section 7.12.3, 7.12.4, 7.13.2(c), 7.16.1, 10.3.3, 10.4.1, 11.5, 12.3.1, or 12.3.2 of this Agreement, the Party to whom such sums
are owed shall furnish an invoice therefor, describing in reasonable detail the basis for such invoice and providing relevant documents
supporting the calculation thereof.

 

		10.1.5	Invoices for Other Sums Due. In the event that any sums are due from one Party to the other Party
under this Agreement, other than for a reason addressed in Section 10.1.1 through 10.1.4, the Party to whom such sums are owed shall furnish
an invoice therefor, describing in reasonable detail the basis for such invoice and providing relevant documents supporting the calculation
thereof.

 

		10.1.6	Notice. Invoices shall be sent in accordance with Section 24.

 

		10.1.7	Provisional Invoices.

 

		(a)	In the event (i) a rate or index used in the calculation of an amount is not available on a temporary
or permanent basis; or (ii) any other relevant information necessary to compute an invoice is not available, the invoicing Party may issue
a provisional invoice (“Provisional Invoice”)
in an amount calculated, in the case of subsection (i) of this Section 10.1.7(a), in accordance with Section 1.3, and,
in the case of subsection (ii) of this Section 10.1.7(a), based on the best estimate of the unavailable information by the Party
issuing the Provisional Invoice. A Provisional Invoice shall be deemed to be an invoice issued pursuant to Section 10.1.1 through 10.1.5,
as applicable, for the purposes of the payment obligations of Seller or Buyer, as applicable, and shall be subject to subsequent adjustment
in accordance with Section 10.1.7(b).

 

		(b)	If a Provisional Invoice has been issued, the invoicing Party shall issue a final invoice reflecting any
credit or debit, as applicable, to the Provisional Invoice as soon as reasonably practicable after the information necessary to compute
the payment has been obtained by such Party. Seller and Buyer shall settle such debit or credit amount, as the case may be, when payment
of the next invoice is due pursuant to Section 10.2 or, if earlier, upon the termination of this Agreement.

 

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		10.2	Payment

 

All amounts invoiced under this Agreement
that are due and payable shall be paid in accordance with this Section 10.2.

 

		10.2.1	Payments for Cargoes. Invoices issued in accordance with Section 10.1.1 for cargoes made available
and taken shall become due and payable by Buyer on the tenth (10th) Day after the date on which Buyer received such invoice.

 

		10.2.2	Cargo DoP Payments. Invoices issued in accordance with Section 10.1.2 shall become due and payable
on the tenth (10th) Day following receipt by Seller.

 

		10.2.3	Cargo Shortfall Payments. Invoices issued in accordance with Section 10.1.3 shall become due
and payable on the tenth (10th) Day following receipt by Buyer. Amounts owed by Seller in accordance with Section 10.1.3
shall become due and payable on the tenth (10th) Day following Seller receiving the applicable corresponding payment pursuant
to a Mitigation Sale.

 

		10.2.4	Payments for Other Sums Due. An invoice issued pursuant to Section 10.1.4 or 10.1.5 shall be paid
by the paying Party thereunder not later than twenty (20) Days after receipt of such invoice.

 

		10.2.5	Payment Method. All invoices shall be settled by payment in USD of the sum due by wire transfer
of immediately available funds to an account with the bank designated by the other Party in accordance with Section 10.2.6.

 

		10.2.6	Designated Bank. Each Party shall designate a bank in a location reasonably acceptable to the other
Party for payments under this Agreement, not less than thirty (30) Days before any designation or redesignation is to be effective.

 

		10.2.7	Payment Date. If any invoice issued pursuant to Section 10.1 would result in a Party being required
to make a payment on a Day that is not a Payment Business Day, then the due date for such invoice shall be the immediately succeeding
Payment Business Day.

 

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		10.3	Disputed Invoice

 

		10.3.1	Payment Pending Dispute. Absent manifest error, each Party invoiced pursuant to Section 10.1.1,
10.1.2, 10.1.3, or 10.1.4 shall pay all disputed and undisputed amounts due under such invoice without netting or offsetting, and the
Party disputing any amounts due under any such invoice shall as soon as reasonably practicable notify the other Party of the reasons for
such disagreement. In the case of manifest error, the correct amount shall be paid disregarding such error, and necessary correction and
consequent adjustment shall be made within five (5) Business Days after agreement or determination of the correct amount.

 

		10.3.2	Timing. Except with respect to Sections 1.3, 10.3.4, and 14, any invoice may be contested by the
receiving Party only pursuant to Section 10.5 or if, within a period of thirteen (13) Months after its receipt thereof, that Party serves
notice to the other Party questioning the correctness of such invoice. Subject to Section 10.5, if no such notice is served, the invoice
shall be deemed correct and accepted by both Parties.

 

		10.3.3	Interest. The Party who invoiced and received payment of a sum, subsequently determined not to
have been payable under this Agreement to such Party, shall pay interest to the other Party on such amount, at a rate per annum equal
to [***] percent ([***]%) above the SOFR (as in effect on the Day when such sum was originally paid) on and from the Day when such sum
was originally paid until the date of its repayment, provided that, without prejudice to the other terms of this Agreement, if such period
lasts longer than ninety (90) Days, the applicable SOFR for each successive term of ninety (90) Days during that period shall be that
in effect on the first (1st) Day of that ninety (90) Day period. Interest shall accrue from Day to Day and be calculated on
the basis of a three hundred sixty (360) Day year.

 

		10.3.4	Measurement or Analyzing Errors. Any errors found in an invoice or credit note which are caused
by the inaccuracy of any measuring or analyzing equipment or device shall be corrected in accordance with Exhibit A hereto, as applicable,
and shall be settled in the same manner as is set out above in this Section 10.3.

 

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		10.4	Delay in Payment

 

		10.4.1	Interest. If either Party fails to make payment of any sum as and when due under this Agreement,
it shall pay interest thereon to the other Party at a rate per annum equal to [***] percent ([***]%) above the SOFR (as in effect on the
Day when such sum was originally due) on and from the Day when payment was due until the date of payment, provided that, without prejudice
to the other terms of this Agreement, if such period lasts longer than ninety (90) Days, the applicable SOFR for each successive term
of ninety (90) Days during that period shall be that in effect on the first (1st) Day of that ninety (90) Day period. Interest
shall accrue from Day to Day and be calculated on the basis of a three hundred sixty (360) Day year.

 

		10.4.2	Costs and Expenses. Subject to Section 20.1.12, each Party shall bear its own costs (including
attorneys’ or experts’ fees or costs) in respect of enforcement of such Party’s rights in any Dispute proceeding as
a result of the other Party failing to perform or failing timely to perform its obligations under this Agreement including failing timely
to make any payment in accordance with this Agreement.

 

		10.5	Audit Rights

 

Each Party shall have the right to cause
an independent auditor, appointed by such Party at such Party’s sole cost and expense, to audit the books, records and accounts
of the other Party that are directly relevant to the determination of any amounts invoiced, charged, refunded or credited by the other
Party within the previous twelve (12) Months or as otherwise required by this Agreement. Such audit shall be conducted at the office where
the records are located, during the audited Party’s regular business hours and on reasonable prior notice, and shall be completed
within thirty (30) Days after the audited Party’s relevant records have been made available to the auditing Party. The independent
auditor shall be a major firm experienced in providing auditing services, and the Party appointing such auditor shall cause the auditor
to execute a confidentiality agreement reasonably acceptable to the Party being audited. If the audit discloses an error in any invoiced
amount under this Agreement, then the auditing Party shall, within thirty (30) Days following completion of the audit pertaining to the
affected invoice or statement, provide notice to the audited Party describing the error and the basis therefor. Promptly thereafter, the
Parties shall commence discussions regarding such error in order to expeditiously, and in good faith, achieve resolution thereof, provided
that any adjustments arising from such audit shall be made and all credits or charges finalized within forty-five (45) Days of completion
of any relevant audit.

 

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		11.	Taxes

 

		11.1	Responsibility

 

Buyer shall indemnify and hold Seller
and its direct or indirect owners and Affiliates harmless from any and all Buyer Taxes, and Seller shall indemnify and hold Buyer and
its Affiliates harmless from any and all Seller Taxes.

 

		11.2	Seller Taxes

 

“Seller Taxes” means
any Taxes imposed from time to time:

 

		(a)	solely on account of the corporate existence of Seller or its Affiliates;

 

		(b)	in respect of the property, revenue, income, or profits of Seller or its Affiliates (other than Taxes
required to be deducted or withheld by Buyer from or in respect of any payments (whether in cash or in kind) under this Agreement);

 

		(c)	subject to Section 11.5, in the United States of America or any political subdivision thereof, that may
be levied or assessed upon the export, loading, storage, processing, transfer, transport, ownership of title, or delivery of LNG, up to
and at the Delivery Point; and

 

		(d)	payable by Buyer by reason of a failure by Seller to properly deduct, withhold or pay any Taxes described
in Section 11.4.

 

		11.3	Buyer Taxes

 

“Buyer Taxes” means
any Taxes imposed from time to time:

 

		(a)	solely on account of the corporate existence of Buyer or its Affiliates;

 

		(b)	in respect of the property, revenue, income, or profits of Buyer or its Affiliates (other than Taxes required
to be deducted or withheld by Seller from or in respect of payments (whether in cash or in kind) under this Agreement);

 

		(c)	in the United States of America (or any political subdivision thereof) or in any jurisdiction in which
any of Buyer’s Discharge Terminals are located (or any political subdivision thereof), or any jurisdiction through which any LNG
Tanker transits or on which any LNG Tanker calls (or any political subdivision thereof), in each case that may be levied or assessed upon
the sale, use, purchase, import, unloading, export, loading, storage, processing, transfer, transport, ownership of title, receipt or delivery
of LNG after the Delivery Point; and

 

		(d)	payable by Seller by reason of a failure by Buyer to properly deduct, withhold or pay any Taxes described
in Section 11.4.

 

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		11.4	Withholding Taxes

 

If Seller or Buyer (in either case, the
 “Payor” for purposes of this Section 11.4), is required to deduct or withhold Taxes from or in respect of any payments
(whether in cash or in kind) to the other Party under this Agreement, then: (a) the Payor shall make such deductions and withholdings;
(b) the Payor shall pay the full amount deducted or withheld to the appropriate Governmental Authority in accordance with Applicable Laws;
(c) the Payor shall promptly furnish to the other Party the original or a certified copy of a receipt evidencing such payment; and (d)
the sum payable by the Payor to the other Party shall be increased by such additional sums as necessary so that after making all required
deductions and withholdings of Taxes (including deductions and withholdings of Taxes applicable to additional sums payable under this
Section 11.4), the other Party receives an amount equal to the sum it would have received had no such deductions or withholdings of Taxes
been made. For the avoidance of doubt, the payment mechanism described in this Section 11.4 does not affect the Tax rights and responsibilities
among the Parties provided under Section 11.1.

 

		11.5	Transfer Taxes

 

In the event that the United States of
America or any political subdivision thereof, including the State of Louisiana or any of its political subdivisions, levies or assesses
a value added Tax, sales or use Tax, or other transfer Tax (“Transfer Taxes”) on the transfer of LNG pursuant to this
Agreement, then unless Buyer has demonstrated an exemption that excuses Seller from any requirement under Applicable Laws to collect such
Transfer Taxes from Buyer (including the provision of any exemption certificate or other documentation required to demonstrate such exemption),
Seller shall (a) add such Transfer Taxes to the invoice for such LNG issued pursuant to Section 10.1 or (b) promptly notify Buyer and
remit such Transfer Taxes to the appropriate Governmental Authority, in which case, pursuant to Section 10.1.4, Seller shall furnish Buyer
with an invoice of the Transfer Taxes required to be reimbursed to Seller, and Buyer shall pay such invoice in accordance with Section
10.2.4. Buyer shall remain liable for any Transfer Taxes imposed on Seller as a result of Buyer’s failure to qualify for an exemption
claimed by Buyer.

 

		11.6	Mitigation and Cooperation

 

Each Party shall use reasonable
efforts to take actions or measures requested by the other Party in order to minimize liabilities for Taxes for which the other
Party is liable under this Section 11, and to file for and secure exclusions, exemptions, rebates, credits, refunds, abatement
and incentives with respect to any such Taxes, provided that the other Party shall pay such Party’s reasonable costs and
expenses in relation thereto. Buyer shall provide Seller with information and documents requested by Seller for purposes of Seller
qualifying for or benefitting from any and all exclusions, exemptions, rebates, credits, refunds, abatement and incentives of any
Taxes for which Seller is liable under this Section 11.

 

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		11.7	Refunds

 

If a Party has made an indemnification
payment to the other Party pursuant to this Section 11 with respect to any amount owed or paid by the indemnified Party and the indemnified
Party thereafter receives a refund or credit of any such amount, such indemnified Party shall pay to the indemnifying Party the amount
of such refund or credit (less any reasonable costs and expenses incurred by the indemnified Party to obtain such refund or credit, without
duplication of any such costs or expenses paid by the indemnifying Party under Section 11.6) promptly following the receipt thereof. The
indemnified Party shall provide such assistance as the indemnifying Party may reasonably request to obtain such a refund or credit.

 

		12.	Quality and Emissions Reporting

 

		12.1	Specification

 

LNG delivered under this Agreement shall
contain no water, active bacteria or bacterial agents (including sulphate reducing bacteria or acid producing bacteria) or other contaminants
or extraneous material and, when converted into a gaseous state, shall comply with the following specifications (“Specifications”):

 

	Minimum Gross Heating Value	1000 Btu/SCF
	 	 
	Maximum Gross Heating Value	1150 Btu/SCF
	 	 
	Minimum Methane (C1)	84.0 MOL%
	 	 
	Maximum Hydrogen Sulfide (H2S)	0.25 grains per 100 SCF
	 	 
	Maximum Sulfur (S)	1.35 grains per 100 SCF
	 	 
	Maximum Nitrogen (N2)	1.5 MOL%
	 	 
	Maximum Ethane (C2)	8 MOL%
	 	 
	Maximum Propane (C3)	3.5 MOL%
	 	 
	Maximum Butane (C4) and heavier	2 MOL%

 

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		12.2	Determining LNG Specifications

 

LNG shall be tested pursuant to Exhibit
A to determine whether such LNG complies with the Specifications.

 

		12.3	Off-Specification LNG

 

		12.3.1	If Seller, acting as a Reasonable and Prudent Operator, determines prior to loading of a cargo that the
LNG is expected not to comply with the Specifications (“Off-Spec LNG”) upon loading, Seller shall, as soon as reasonably
practicable, suspend loading and shall give notice to Buyer of the extent of the expected variance as soon as practicable (but in no case
later than the commencement of loading of the cargo), and:

 

		(a)	Buyer shall use reasonable efforts, including coordinating with the Transporter and the operator of the
Discharge Terminal, to accept such LNG where the LNG would be acceptable to the Transporter and the operator of the Discharge Terminal,
each of them acting in their sole discretion (unless Transporter or such operator is Buyer or an Affiliate of Buyer), and would not prejudice
the safe and reliable operation of any LNG Tanker, the Discharge Terminal, and any downstream facilities being supplied regasified LNG;
Buyer shall notify Seller within forty-eight (48) hours of receipt of Seller’s notice whether Buyer is so able to accept such LNG;

 

		(b)	if Buyer can accept delivery of such cargo, then Buyer shall take delivery of such cargo, and Seller shall
reimburse Buyer for all reasonable documented direct costs incurred by Buyer (including direct costs owed to any Affiliate of Buyer, Transporter,
and the operator of the Discharge Terminal) in transporting and treating such Off-Spec LNG to meet the Specifications (or to otherwise
make such LNG marketable); provided, however, Seller’s liability shall not exceed twenty percent (20%) of the CSP for such
cargo, multiplied by the quantity (in MMBtu) of the Off-Spec LNG; and

 

		(c)	if Buyer determines in good faith that it cannot, using reasonable efforts, receive such cargo, or that
Buyer anticipates that it might be liable for costs that would not otherwise be reimbursed pursuant to Section 12.3.1(b), then Buyer shall
be entitled to reject such cargo by giving Seller notice of rejection within forty-eight (48) hours of the Buyer’s receipt of Seller’s
notice, and Buyer shall be relieved of its obligation to load such cargo, Seller shall be deemed to have failed to make available such
cargo and Section 5.6.2 shall apply in respect of such cargo.

 

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		12.3.2	If Off-Spec LNG is delivered to Buyer without Buyer being made aware of the fact that such Off-Spec LNG
does not comply with the Specifications, or without Buyer being made aware of
the actual extent to which such Off-Spec LNG does not comply with the Specifications, then upon Buyer or Seller becoming aware that the
LNG is Off-Spec LNG and following prompt notice thereof to the other Party, Seller shall immediately suspend loading operations (if applicable)
pending a determination by Buyer and:

 

		(a)	if Buyer is able, using reasonable efforts, to transport and treat the Off-Spec LNG to meet the Specifications
(or to otherwise make such LNG marketable) within the cost limitations set forth in this Section 12.3.2(a), then Buyer shall notify Seller
as soon as practicable to resume loading (if applicable) and Seller shall reimburse Buyer for all reasonable documented direct costs and
expenses incurred by Buyer (including direct costs owed to any Affiliate of Buyer, Transporter, and the operator of the Discharge Terminal)
in transporting and treating such Off-Spec LNG received at the Discharge Terminal to meet the Specifications (or to otherwise make such
LNG marketable), in an amount not exceeding one hundred percent (100%) of the CSP for such cargo, multiplied by the quantity (in
MMBtu) of the Off-Spec LNG so delivered; provided, however, that Buyer, any Affiliate of Buyer, Transporter, and the operator of
the Discharge Terminal shall not be required to incur costs in excess of those reimbursable by Seller; or

 

		(b)	if Buyer determines in good faith that it cannot, using reasonable efforts, transport and treat such Off-Spec
LNG to meet the Specifications (or to make such LNG marketable) within the cost limitations set forth in Section 12.3.2(a), then: (i)
Buyer shall be entitled to reject such Off-Spec LNG by giving Seller notice of such rejection as soon as practicable, and in any case
within ninety-six (96) hours after (A) Seller notifies Buyer that such LNG is Off-Spec LNG and the actual extent to which such Off-Spec
LNG does not comply with the Specifications or (B) Buyer becomes aware that such LNG is Off-Spec LNG, whichever occurs first; (ii) Buyer
shall be entitled to dispose of the loaded portion of such Off-Spec LNG (or regasified LNG produced therefrom) in any manner that Buyer,
acting in accordance with the standards of a Reasonable and Prudent Operator, deems appropriate; and (iii) Seller shall reimburse Buyer
in respect of and indemnify and hold Buyer harmless from all direct loss, damages, costs and expenses incurred by Buyer, any Affiliate
of Buyer, Transporter or the operator of the Discharge Terminal (if, and only to the extent that, Buyer is contractually liable to such
Transporter or operator) as a result of the delivery of such Off-Spec LNG, including in connection with the handling, treatment or safe
disposal of such Off-Spec LNG or other LNG being held at the Discharge Terminal or being carried onboard the LNG Tanker which was contaminated
by it, cleaning or clearing the LNG Tanker and Discharge Terminal, and damage caused
to the LNG Tanker and Discharge Terminal.

 

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		12.3.3	If Buyer rejects a cargo in accordance with Section 12.3.1(c) or 12.3.2(b), Seller shall be deemed to
have failed to make available such cargo, and the Scheduled Cargo Quantity for such cargo shall be treated as a Cargo DoP Quantity resulting
in a Cargo DoP Payment under Section 5.6.2. If Buyer accepts a cargo of Off-Spec LNG in accordance with Section 12.3.1(b) or transports
and treats a cargo of Off-Spec LNG in accordance with Section 12.3.2(a), Seller shall be deemed to have satisfied its obligation to make
available such LNG to Buyer for purposes of Section 5.6.1.

 

		12.4	Emissions

 

Not later than the last Day of each Month,
starting on the second Month after the Month in which the First DFCD occurs, Seller shall provide a written report to Buyer, in form and
substance determined by Seller acting in good faith, that sets forth information regarding certain carbon dioxide and methane emissions
associated with each cargo delivered hereunder in the prior Month. Seller will also make available to Buyer through secure online access,
the non-proprietary background data and assumptions used in preparing each report. Seller shall use reasonable efforts to ensure the form
of the report complies with any prudent industry practices related to carbon dioxide and methane reporting that are followed by the operators
of similar LNG liquefaction terminals in the U.S. Gulf Coast. Seller shall cause such report to comply with any Applicable Laws applicable
to Seller and its sale of LNG hereunder.

 

		13.	Measurements and Tests

 

		13.1	LNG Measurement and Tests

 

LNG delivered to Buyer, and Gas used as
fuel by the LNG Tanker, pursuant to this Agreement shall be measured and tested in accordance with Exhibit A.

 

		13.2	Parties to Supply Devices

 

		13.2.1	Buyer shall supply, operate and maintain, or cause to be supplied, operated and maintained, suitable gauging
devices for the LNG tanks of the LNG Tanker, as well as pressure and temperature measuring devices, in accordance with Section 13.3 and
Exhibit A, and any other measurement, gauging or testing devices which are incorporated in the structure of such LNG Tanker or customarily
maintained on shipboard.

 

		13.2.2	Seller shall supply, operate and maintain, or cause to be supplied, operated and maintained, devices required
for collecting samples and for determining quality and composition of the delivered LNG, in accordance with Section 13.3 and Exhibit
A, and any other measurement, gauging or testing devices which are necessary to perform
the measurement and testing required hereunder at the Loading Port.

 

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		13.3	Selection of Devices

 

Each device provided for in this Section
13 shall be selected and verified in accordance with Exhibit A. Any devices that are provided for in this Section 13 not previously used
in an existing LNG trade shall be chosen by written agreement of the Parties and shall be such as are, at the time of selection, accurate
and reliable in their practical application. The required degree of accuracy of such devices shall be agreed in writing by Buyer and Seller
in advance of their use, and such degree of accuracy shall be verified by an independent surveyor agreed in writing by the Parties.

 

		13.4	Tank Gauge Tables of LNG Tanker

 

Buyer shall furnish to Seller, or cause
Seller to be furnished, a certified copy of tank gauge tables as described in Exhibit A for each LNG tank of the LNG Tanker and of tank
gauge tables revised as a result of any recalibration of an LNG tank of an LNG Tanker.

 

		13.5	Gauging and Measuring LNG Volumes Loaded

 

Volumes of LNG delivered under this Agreement
will be determined by gauging the LNG in the LNG tanks of the LNG Tanker immediately before and after loading and taking into account
Gas returned to the Driftwood LNG Terminal and Gas burned by the LNG Tanker during loading, all in accordance with the terms of Exhibit
A.

 

		13.6	Samples for Quality Analysis

 

Representative samples of the delivered
LNG shall be obtained by Seller as provided in Exhibit A.

 

		13.7	Quality Analysis

 

The samples referred to in Section 13.6
shall be analyzed in accordance with the terms of Exhibit A, in order to determine the molar fractions of the hydrocarbons and components
in the sample.

 

		13.8	Operating Procedures

 

		13.8.1	Prior to carrying out measurements, gauging and analyses hereunder, the Party responsible for such
                                                                        operations shall notify the designated representative(s) of the other Party, allowing such representative(s) a reasonable
                                                                        opportunity to be present for all operations and computations; provided, however, that the absence of such representative(s)
                                                                        after notification and reasonable opportunity to attend shall not affect the validity of any operation or computation thereupon
                                                                        performed.

 

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		13.8.2	At the request of either Party, any measurements, gauging and/or analyses provided for in Sections 13.5,
13.6, 13.7 and 13.10.1 shall be witnessed and verified by an independent surveyor agreed in writing by the Parties. The results of verifications
and records of measurement shall be maintained in accordance with the terms of Exhibit A.

 

		13.9	MMBtu Quantity Delivered

 

The number of MMBtus sold and delivered
shall be calculated at the Delivery Point by Seller and witnessed and verified by an independent surveyor agreed in writing by the Parties
following the procedures set forth in Exhibit A.

 

		13.10	Verification of Accuracy and Correction for Error

 

		13.10.1	Each Party shall test and verify the accuracy of its devices at intervals to be agreed between the
                                                                        Parties. In the case of gauging devices of the LNG Tanker, such tests and verifications shall take place during each scheduled
                                                                        dry-docking, provided that the interval between such dry dockings shall not exceed five (5) years. Indications from any redundant
                                                                        determining devices should be reported to the Parties for verification purposes. Each Party shall have the right to inspect and if a
                                                                        Party reasonably questions the accuracy of any device, to require the testing or verification of the accuracy of such device in
                                                                        accordance with the terms of Exhibit A.

 

		13.10.2	Permissible tolerances of the measurement, gauging and testing devices shall be as described in
                                                                                   Exhibit A.

 

		13.11	Costs and Expenses

 

		13.11.1	Except as provided in this Section 13.11, all costs and expenses for testing and verifying
                                                                              measurement, gauging or testing devices shall be borne by the Party whose devices are being tested and verified; provided,
                                                                              however, that representatives of the Parties attending such tests and verifications shall do so at the cost and risk of the
                                                                              Party they represent.

 

		13.11.2	In the event that a Party inspects or requests the testing/verification of any of the other
                                                                          Party’s devices on an exceptional basis in each case as provided in Section 13.10.1, the Party requesting the
                                                                          testing/verification shall bear all costs thereof; provided, however, that in the event that such testing or verification
                                                                          discloses that the other Party’s devices fail to comply with the requirements of this Agreement, all costs and expenses for
                                                                          such testing and verification of the devices that failed to comply shall be borne by the Party whose devices were tested.

 

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		13.11.3	The costs of the independent surveyor:

 

		(a)	requested by a Party in accordance with Section 13.8.2 or paragraph 3(a) of Exhibit A shall be borne by
the requesting Party; and

 

		(b)	referred to in Section 13.9 shall be borne equally by Buyer and Seller.

 

		14.	Force Majeure and Upstream FM

 

		14.1	Force Majeure

 

Neither Party shall be liable to the other
Party for any delay or failure in performance under this Agreement if and to the extent such delay or failure is a result of Force Majeure.
To the extent that the Party so affected fails to use commercially reasonable efforts to overcome or mitigate the effects of such events
of Force Majeure, it shall not be excused for any delay or failure in performance that would have been avoided by using such commercially
reasonable efforts. Subject to the provisions of this Section 14, the term “Force Majeure” shall mean any act, event
or circumstance, whether of the kind described herein or otherwise, that is not reasonably within the control of, does not result from
the fault or negligence of, and would not have been avoided or overcome by the exercise of reasonable diligence by, the Party claiming
Force Majeure or an Affiliate of the Party claiming Force Majeure, such Party and, as applicable, its Affiliate having observed a standard
of conduct that is consistent with a Reasonable and Prudent Operator, and that prevents or delays in whole or in part such Party’s
performance of one or more of its obligations under this Agreement.

 

		14.1.1	Force Majeure may include circumstances of the following kind, provided that such circumstances satisfy
the definition of Force Majeure set forth above:

 

		(a)	acts of God, a Governmental Authority, or a public enemy;

 

		(b)	subject to Section 14.7, strikes, lockout, or other industrial action;

 

		(c)	wars, blockades or civil disturbances of any kind; epidemics, actual or reasonably forecasted adverse
weather or sea conditions, fires, explosions, arrests and restraints of governments or people, acts of terrorism, acts of piracy and serious
threat of piracy;

 

		(d)	the breakdown or failure of, freezing of, breakage or accident to, or the necessity for making repairs
or alterations to any facilities or equipment;

 

		(e)	in respect of Seller, loss of, accidental damage to, or inaccessibility to or inoperability of (i) the
Driftwood LNG Terminal or any Connecting Pipeline or (ii) the liquefaction and loading facilities at any alternate source pursuant to
Section 3.1.2 and any Gas pipeline as may be directly interconnected thereto,
and subject to Section 14.2.4;

 

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		(f)	in respect of Buyer, events affecting the ability of any LNG Tanker to receive and transport LNG including
the unavailability of tug services, subject to Section 14.2.3; and

 

		(g)	the withdrawal, denial, or expiration of, or failure to obtain, any Approval.

 

		14.1.2	Nothing in this Section 14.1 shall be construed to require a Party to observe a higher standard of conduct
than that required of a Reasonable and Prudent Operator as a condition to claiming the existence of Force Majeure.

 

		14.2	Limitations on Force Majeure

 

		14.2.1	Indemnity and Payment Obligations. Notwithstanding Section 14.1, no Force Majeure shall relieve,
suspend, or otherwise excuse either Party from performing any obligation to indemnify, reimburse, hold harmless or otherwise pay the other
Party under this Agreement.

 

		14.2.2	Events Not Force Majeure. Without prejudice to Seller’s rights hereunder in respect of events
of Upstream FM, the following events shall not constitute Force Majeure:

 

		(a)	a Party’s inability to finance its obligations under this Agreement or the unavailability of funds
to pay amounts when due in the currency of payment;

 

		(b)	the unavailability of, or any event affecting, any facilities at or associated with any loading port or
unloading port (or downstream of an unloading port) other than the Driftwood LNG Terminal or any alternate source agreed by the Parties
pursuant to Section 3.1.2;

 

		(c)	the ability of Seller or Buyer to obtain better economic terms for LNG or Gas from an alternative supplier
or buyer, as applicable;

 

		(d)	changes in either Party’s market factors, default of payment obligations or other commercial, financial
or economic conditions, including failure or loss of any of Buyer’s or Seller’s Gas, LNG or electric power markets;

 

		(e)	breakdown or failure of plant or equipment caused by normal wear and tear or by a failure to properly
maintain such plant or equipment;

 

		(f)	the non-availability or lack of economically obtainable Gas reserves;

 

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		(g)	in the case of Seller, any event arising from an action or omission of (i) any Affiliate of Seller, (ii)
the contractor or sub-contractor or agent of Seller or Affiliate of Seller, or (iii) the operator of the Driftwood LNG Terminal, in each
case to the extent that, had Seller taken such action or experienced such event, such event would not constitute Force Majeure pursuant
to the provisions of this Section 14;

 

		(h)	in the case of Buyer, any event arising from an action or omission of (i) any Affiliate of Buyer, (ii)
any customer of Buyer scheduled to take delivery of LNG from Buyer at the Driftwood LNG Terminal, (iii) the contractor or sub-contractor
or agent of Buyer or Affiliate of Buyer, (iv) the operator of any part of any Discharge Terminal or (v) any Transporter, in each case
to the extent that, had Buyer taken such action or experienced such event, such event would not constitute Force Majeure pursuant to the
provisions of this Section 14; and

 

		(i)	the loss of interruptible or secondary firm transportation service on a Connecting Pipeline or any pipeline
upstream of a Connecting Pipeline unless the cause of such loss was an event that would satisfy the definition of Force Majeure hereunder
and primary in-the-path transportation service on such pipeline was also interrupted as a result of such event.

 

		14.2.3	LNG Tankers.

 

		(a)	Force Majeure relief in respect of Buyer for an event described in Section 14.1.1(f) affecting a specific
LNG Tanker shall only be available with respect to cargoes that are scheduled to be transported on such LNG Tanker in the applicable Ninety
Day Schedule or ADP for such Contract Year, or (to the extent that the ADP for the following Contract Year has been issued by Seller)
in the ADP for the following Contract Year.

 

		(b)	With respect to any particular cargo, Buyer shall not be entitled to claim Force Majeure relief for an
event affecting the LNG Tanker nominated for such cargo if such LNG Tanker was affected by, or should reasonably have been expected by
Buyer or its customer utilizing such LNG Tanker (in each case acting as a Reasonable and Prudent Operator) to be affected by, such Force
Majeure event at the time it was nominated by Buyer pursuant to Section 8.1.2 or Section 8.3, as applicable, for the relevant cargo.

 

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		14.2.4	Alternative Sources. Force Majeure relief in respect of Seller for an event described in
                                                                       Section 14.1.1(e) affecting an alternate LNG source or facility thereat agreed between the Parties pursuant to Section 3.1.2 shall
                                                                       (a) only be available with respect to the cargo that is scheduled to be loaded at the Loading Port of such facility in the ADP or
                                                                       applicable Ninety Day Schedule for such Contract Year or, to the extent that the ADP for the following Contract Year has been
                                                                       issued, in the ADP for such following Contract Year and (b) not be available for an event affecting such alternate LNG source or
                                                                       facility thereat if such alternate LNG source or facility thereat was affected by such Force Majeure at the time it was nominated by
                                                                       Seller pursuant to Section 3.1.2 for the applicable cargo.

 

		14.3	Upstream FM

 

		14.3.1	The Parties recognize that Seller’s obligation to make available LNG to Buyer is dependent upon
one or more of Seller’s Affiliates owning or contracting for the Upstream Assets; provided, however, that the ownership or
contracting by one or more of Seller’s Affiliates of the Upstream Assets shall not be a condition precedent under Section 2.3 to
the effectiveness of this Agreement. Subject to Sections 14.3.2, 14.3.4 and 14.3.6, and irrespective of Seller’s ability to otherwise
perform under this Agreement, Seller shall have no obligation to make available any cargo with a Delivery Window scheduled in the ADP
or Ninety Day Schedule, as applicable, to occur during Upstream FM claimed by Seller (each such cargo, an “Upstream FM Cargo”).
The operator of the affected Upstream Assets shall not have any obligation to purchase any Gas in order to overcome or mitigate the effects
of an event of Upstream FM. Seller and its Affiliates shall not have any obligation to purchase or take delivery of Gas or LNG to make
available Upstream FM Cargoes, other than Gas to produce Upstream FM Cargoes that Buyer has elected to take on a Henry Hub basis pursuant
to Section 14.3.4, in order to overcome or mitigate the effects of an event of Upstream FM. The term “Upstream FM”
shall mean any act, event or circumstance that is not reasonably within the control of and does not result from the fault or negligence
of Seller, its Affiliates, or the operator of the affected Upstream Assets, that would not have been avoided or overcome by a Reasonable
and Prudent Operator operating the affected Upstream Assets, and that, for at least seven (7) consecutive Days, results in the total daily
quantity of Gas deliveries from the Upstream Assets prior to or at Liquid Trading Points being reduced from a quantity that was sufficient
to meet or exceed the Threshold Quantity; where “Threshold Quantity” means a quantity equal to (a) the total daily
quantity of feed Gas required at the Gas metering station of the Driftwood LNG Terminal to produce LNG for the Foundation Customers, multiplied
by (b) one hundred five percent (105%). The non-availability or lack of economically obtainable gas reserves shall not constitute
Upstream FM.

 

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		14.3.2	Seller shall provide notice to Buyer of any Upstream FM claimed by Seller. In its notice, Seller shall
specify each Upstream FM Cargo claimed at that time by Seller. From time to time thereafter, Seller may provide additional notices to
specify any additional Upstream FM Cargoes claimed by Seller at the time of such notices. Seller’s
notices specifying Upstream FM Cargoes claimed by Seller shall only include cargoes with Delivery Windows that commence no earlier than
one hundred and twenty (120) hours after the time Seller provides such notice. Seller shall provide notice to Buyer at the time Seller
ends its claim of Upstream FM.

 

		14.3.3	If, in connection with any Upstream FM claimed by Seller, Seller or its Affiliates have received any force
majeure notices from operators of the Upstream Assets, Seller shall promptly provide a copy of each such force majeure notice to Buyer.

 

		14.3.4	Notwithstanding Section 14.3.1, Buyer shall have the right to elect to take, on a Henry Hub basis, one
or more Upstream FM Cargoes if Buyer provides notice of such election to Seller by the later of (i) forty-eight (48) hours of Seller providing
notice pursuant to Section 14.3.2 claiming such LNG cargo(es) as Upstream FM Cargo(es) and (ii) five (5) Days prior to the applicable
Delivery Window. If Buyer makes such election by such deadline, then (a) Seller shall not be excused, due to Upstream FM, from making
available each such Upstream FM Cargo that Buyer has elected to take on a Henry Hub basis, (b) Buyer shall take and pay for each such
Upstream FM Cargo and (c) the CSP (expressed in USD per MMBtu rounded to two decimal places) for each such Upstream FM Cargo for all purposes
of this Agreement, including Sections 5.6 and 5.7 if applicable, shall be as follows:

 

CSP = ([***] x HH)
+ US$[***]/MMBtu

 

where:

 

“HH” or “Henry
Hub” means the final settlement price (in USD per MMBtu) for the New York Mercantile Exchange’s Henry Hub natural gas futures
contract for the Month in which the Delivery Window of the relevant Upstream FM Cargo is scheduled to begin in accordance with the ADP
or Ninety Day Schedule, as applicable.

 

Buyer’s election pursuant to this
Section 14.3.4 in respect of a given Upstream FM Cargo shall be irrevocable. If Buyer fails to notify Seller of Buyer’s election
by the deadline specified in this Section 14.3.4 in respect of a given Upstream FM Cargo, then Buyer shall be deemed to have elected not
to take the Upstream FM Cargo on a Henry Hub basis and shall not be entitled to take the Upstream FM Cargo. If Buyer elects not to take,
or is deemed to have elected not to take, any Upstream FM Cargo on a Henry Hub basis, Seller shall be free to dispose of the Upstream
FM Cargo at its sole discretion, without compensation to Buyer.

 

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		14.3.5	During the occurrence of Upstream FM claimed by Seller, Seller shall cause its Affiliates that own or
contract for Upstream Assets to use commercially reasonable efforts to overcome or mitigate the effects of the Upstream FM.

 

		14.3.6	Seller shall comply with the Foundation Customer Priority in allocating any LNG that is made available
at the Driftwood LNG Terminal during the occurrence of Upstream FM claimed by Seller (other than LNG made available on a Henry Hub basis
to any Foundation Customer), commencing one hundred and twenty (120) hours after Seller provides notice to Buyer claiming such Upstream
FM.

 

		14.3.7	Where Seller has claimed Upstream FM in accordance with Section ‎14.3.2, and Seller (i) elects to
purchase or take delivery of Gas or LNG to make available (other than as a result of Buyer’s election in Section ‎14.3.4),
or (ii) cures in whole or in part the effects of such Upstream FM in respect of, at least one (1) Upstream FM Cargo, Seller shall no longer
be entitled to rely on such claim of Upstream FM, nor the event or circumstance which gave rise to such claim of Upstream FM for any subsequent
LNG cargo.

 

		14.4	Notification

 

A Force Majeure event shall take effect
at the moment such an event or circumstance occurs. Upon the occurrence of a Force Majeure event that prevents, interferes with or delays
the performance by Seller or Buyer, in whole or in part, of any of its obligations under this Agreement, or the occurrence of an Upstream
FM claim by Seller (to the extent the substance of the following notice is not already included in any notice provided under Section 14.3),
the Party affected shall give notice thereof to the other Party describing such event and stating the obligations the performance of which
are affected (either in the original or in supplemental notices) and stating, as applicable:

 

		14.4.1	the estimated period during which performance may be prevented, interfered with or delayed, including,
to the extent known or ascertainable, the estimated extent of such reduction in performance;

 

		14.4.2	the particulars of the program to be implemented to resume normal performance under this Agreement;

 

		14.4.3	the anticipated quantity of LNG scheduled in the ADP for a Contract Year that will not be made available
or taken, as the case may be, by reason of Force Majeure or Upstream FM, as applicable; and

 

		14.4.4	in the case of Upstream FM, such supporting information as may be required by Buyer (acting reasonably)
to demonstrate the occurrence of an Upstream FM in accordance with Section 14.3.1.

 

Such notices shall thereafter be
updated at least monthly during the period of such claimed Force Majeure or Upstream FM (as applicable) specifying the actions being
taken to remedy the circumstances causing such Force Majeure or Upstream FM (as applicable). For clarity, and without prejudice to
Section ‎14.3.7, neither Party shall be obligated to claim Force Majeure or Upstream FM (as applicable) in respect of any
particular event or circumstance, and neither Party shall be restricted from ending its claim of Force Majeure or Upstream FM (as
applicable) regardless of any particular event or circumstance.

 

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		14.5	Measures

 

Prior to resumption of normal performance,
the Parties shall continue to perform their obligations under this Agreement to the extent not excused by such event of Force Majeure
or event of Upstream FM.

 

		14.6	No Extension of Term

 

The Term shall not be extended as a result
of or by the duration of an event of Force Majeure or event of Upstream FM.

 

		14.7	Settlement of Industrial Disturbances

 

Settlement of strikes, lockouts, or other
industrial disturbances shall be entirely within the discretion of the Party experiencing such situations, and nothing in this Agreement
shall require such Party to settle industrial disputes by yielding to demands made on it when it considers such action inadvisable.

 

		14.8	Foundation Customer Priority

 

Notwithstanding any other provision in
this Section 14, during any event of Force Majeure affecting Seller, Seller shall apportion the remaining LNG available for loading at
the Driftwood LNG Terminal according to the Foundation Customer Priority. “Foundation Customer Priority” means that
Buyer and other Foundation Customers will receive priority for receiving the remaining LNG available for loading at the Driftwood LNG
Terminal in the following manner: all such LNG will be allocated, to Buyer based upon the proportionate share of Buyer’s AACQ to
the sum of all Foundation Customers’ adjusted annual contract quantities (including Buyer’s AACQ), and to each other Foundation
Customer based upon the proportionate share of such Foundation Customer’s adjusted annual contract quantity to the sum of all Foundation
Customers’ adjusted annual contract quantities (including Buyer’s AACQ), in each case, without regard to whether the underlying
event affects Plant 1, Plant 2 or any other Plant.

 

		15.	Liabilities and Indemnification

 

		15.1	General

 

Subject to Section 15.2, and without
prejudice to any indemnity provided under this Agreement, Seller shall be liable to Buyer, and Buyer shall be liable to Seller for
any loss which has been suffered as a result of the breach by the Party liable of any one or more of its obligations under this
Agreement, to the extent that the Party liable should reasonably have foreseen the loss.

 

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		15.2	Limitations on Liability

 

		15.2.1	Incidental and Consequential Losses. Neither Party shall be liable to the other Party hereunder
as a result of any act or omission in the course of or in connection with the performance of this Agreement, for or in respect of:

 

		(a)	without prejudice to Sections 5.6.5, 5.7.8, 7.12.3, and 7.12.4, any indirect, incidental, consequential,
punitive or exemplary losses;

 

		(b)	without prejudice to Sections 5.6.5, 5.7.8, 7.12.3, and 7.12.4, any loss of income or profits, lost or
increased production costs, shutdown or loss of production, loss of use, loss of contract or loss of goodwill or business interruption;

 

		(c)	except as expressly provided in this Agreement, any failure of performance or delay in performance to
the extent relieved by the application of Force Majeure or Upstream FM in accordance with Section 14; or

 

		(d)	except as expressly provided in this Agreement, any losses arising from any claim, demand or action made
or brought against the other Party by a Third Party.

 

		15.2.2	Exclusive Remedies. A Party’s sole liability, and the other Party’s exclusive remedy,
arising under or in connection with Sections 5.6, 5.7, 7.12.3, 7.12.4, 7.13.2(c) and 12.3 and this Section 15 shall be as set forth in
each such provision, respectively.

 

		15.2.3	Liquidated Damages. The Parties agree that it would be impracticable to determine accurately the
extent of the loss, damage and expenditure that either Party would have in the circumstances described in Sections 5.6, 5.7, 7.12.3 and
7.12.4. Accordingly, the Parties have estimated and agreed in advance that the sole liability, and exclusive remedy for such circumstances
shall be as provided in those Sections, and neither Party shall have additional liability as a result of any such circumstances. Each
amount described in or determined by the provisions of Sections 5.6, 5.7, 7.12.3 and 7.12.4 is intended to represent a genuine pre-estimate
by the Parties as to the loss or damage likely to be suffered by the Party receiving the payment or benefit in each such circumstance.
Each Party waives any right to claim or assert, in any arbitration or expert determination pursuant to Section 20 in any action with respect
to this Agreement, that any of the exclusive remedies set forth in Sections 5.6, 5.7, 7.12.3 and 7.12.4 do not represent a genuine pre-estimate
by the Parties as to the loss or damage likely to be suffered by the Party receiving the payment or benefit in each such circumstance
or otherwise are not valid and enforceable damages.

 

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		15.2.4	Express Remedies. The Parties agree that Section 15.2.1 shall not impair a Party’s obligation
to pay the amounts specified in, or the validity of or limitations imposed by, Sections 5.6, 5.7, 7.12.3, 7.12.4, 7.13.2(c) and 12.3.
Neither Party shall have a right to make a claim for actual damages (whether direct or indirect) or other non-specified damages under
any circumstances for which an express remedy or measure of damages is provided in this Agreement.

 

		15.2.5	Remedies in Contract. Except with respect to claims for injunctive relief under Sections 18 and
20.1.11, a Party’s sole remedy against the other Party for nonperformance or breach of this Agreement or for any other claim of
whatsoever nature arising out of or in relation to this Agreement shall be in contract and no Party shall be liable to another Party (or
its Affiliates and contractors and their respective members, directors, officers, employees and agents) in respect of any damages or losses
suffered or claims which arise out of, under or in any alleged breach of statutory duty or tortious act or omission or otherwise.

 

		15.2.6	Seller Aggregate Liability for Certain Events.

 

		(a)	Notwithstanding any provision herein to the contrary, the maximum Seller Aggregate Liability as of any
given date in respect of any occurrence or series of occurrences shall not exceed the Seller Liability Cap.

 

		(b)	“Seller Aggregate Liability” shall mean, as of any date of determination, any and all
liability of Seller to Buyer under this Agreement, excluding (i) any Seller liabilities under this Agreement for which Seller has already
made payment to Buyer as of such date, (ii) any liability caused by the gross negligence or willful misconduct of Seller or any Affiliate
of Seller, and (iii) any liability of Seller pursuant to Section 25.

 

		(c)	The “Seller Liability Cap”, as of any given time of determination, shall be an amount
(in USD) equal to USD [***] (US$[***]).

 

		15.2.7	Buyer Liability Cap.

 

		(a)	Notwithstanding any provision herein to the contrary, the maximum Buyer Aggregate Liability as of any
given date in respect of any occurrence or series of occurrences shall not exceed the Buyer Liability Cap.

 

		(b)	“Buyer Aggregate Liability” shall mean, as of any date of determination, any and
                                                               all liability of Buyer to Seller under this Agreement, excluding (i) any Buyer liabilities under this Agreement for which Buyer has
                                                               already made payment to Seller as of such date, (ii) any liability caused by the gross negligence or willful misconduct of Buyer or
                                                               any Affiliate of Buyer, (iii) any amounts related to the indemnity obligation of Buyer set forth in Section 7.7.1, and (iv) any
                                                               liability of Buyer pursuant to Section 25.

 

		(c)	The “Buyer Liability Cap”, as of any given time of determination, shall be an amount
(in USD) equal to USD [***] (US$[***]).

 

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		15.2.8	EXCEPT FOR WARRANTIES OF (I) TITLE AND (II) NO LIENS OR ENCUMBRANCES, AND SUBJECT TO THE PROVISIONS
OF THIS AGREEMENT CONCERNING THE QUALITY OF LNG TO BE DELIVERED UNDER THIS AGREEMENT, SELLER EXPRESSLY NEGATES ANY WARRANTY WITH RESPECT
TO LNG DELIVERED UNDER THIS AGREEMENT, WRITTEN OR ORAL, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY WITH RESPECT TO CONFORMITY TO SAMPLES,
MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

 

		15.3	Buyer’s Credit; Credit Support

 

		15.3.1	Buyer shall at all times maintain an Acceptable Credit Rating or provide or cause to be provided a Guaranty
to Seller.

 

		15.3.2	In the event that the Buyer is unable to comply with the requirements of Section 15.3.1, or a guarantor
that has provided a guaranty hereunder no longer has an Acceptable Credit Rating or is otherwise no longer an Acceptable Guarantor, Buyer
shall provide or cause to be provided to Seller either:

 

		(a)	a replacement Guaranty; or

 

		(b)	an alternative credit support reasonably acceptable to Seller at all times.

 

Any Guaranty or alternative
credit support required to be delivered to Seller pursuant to this Section 15.3.2 shall be delivered within thirty (30) Days of such requirement
arising.

 

		15.3.3	If Buyer, or a guarantor that has provided a guaranty hereunder on behalf of Buyer, merges or consolidates,
sells, assigns, transfers, conveys or otherwise disposes of, whether such disposition is voluntary, involuntary or by merger, consolidation,
dissolution, operation of Applicable Law or any other manner, all or substantially all of its assets, or novates or assigns this Agreement
or the guaranty, as applicable, then the surviving entity, asset purchaser or assignee, as the case may be, shall assume in writing or
by operation of law the obligations of Buyer or Buyer’s guarantor, as applicable. In the event the foregoing conditions are not
satisfied, Buyer shall provide or cause to be provided a replacement Guaranty, or if unable to comply with the requirements of a
Guaranty because no Guarantor exists, an alternative credit support reasonably acceptable to Seller at all times. Any Guaranty or alternative
credit support required to be delivered to Seller pursuant to this Section 15.3.3 shall be delivered within thirty (30) Days of such requirement
arising.

 

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		15.4	Third Party Liability

 

With respect to Third Party liabilities:

 

		(a)	If any Third Party shall notify either Party (the “Indemnified Party”) with respect
to any matter (a “Third Party Claim”) that may give rise to a claim for indemnification against the other Party (the
 “Indemnifying Party”) under this Section 15 or elsewhere in this Agreement, then the Indemnified Party shall promptly
notify the Indemnifying Party thereof in writing; provided, however, that no delay on the part of the Indemnified Party in notifying
the Indemnifying Party shall relieve the Indemnifying Party from any obligation hereunder unless (and then solely to the extent) the Indemnifying
Party thereby is materially prejudiced.

 

		(b)	The Indemnifying Party will have the right to defend against the Third Party Claim with counsel of its
choice reasonably satisfactory to the Indemnified Party so long as (i) the Indemnifying Party notifies the Indemnified Party in writing
within fifteen (15) Days after the Indemnified Party has given notice of the Third Party Claim that the Indemnifying Party will indemnify
the Indemnified Party from and against any damages the Indemnified Party may suffer resulting from, arising out of, relating to, in the
nature of, or caused by the Third Party Claim; (ii) the Indemnifying Party provides the Indemnified Party with evidence reasonably acceptable
to the Indemnified Party that the Indemnifying Party will have the financial resources to defend against the Third Party Claim and fulfill
its indemnification obligations hereunder; (iii) the Third Party Claim involves only money damages and does not seek an injunction or
other equitable relief; (iv) settlement of, or an adverse judgment with respect to, the Third Party Claim is not in the good faith judgment
of the Indemnified Party, likely to establish a precedential custom or practice materially adverse to the continuing business interests
of the Indemnified Party; and (v) the Indemnifying Party conducts the defense of the Third Party Claim actively and diligently.

 

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		(c)	So long as the Indemnifying Party is conducting the defense of the Third Party Claim in accordance with
Section 15.4(b): (i) the Indemnified Party may retain separate co-counsel at its sole cost and expense and participate in the defense
of the Third Party Claim; (ii) the Indemnified Party will not consent
to the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the
Indemnifying Party (which consent shall not be unreasonably withheld or delayed); and (iii) the Indemnifying Party will not consent to
the entry of any judgment or enter into any settlement with respect to the Third Party Claim without the prior written consent of the
Indemnified Party (which consent shall not be unreasonably withheld or delayed).

  

		(d)	In the event any of the conditions in Section 15.4(b) is or becomes unsatisfied, or a conflict arises,
with regard to the Third Party Claim, between the Indemnified Party and the Indemnifying Party in respect of such Third Party Claim the
Indemnified Party may defend against the Third Party Claim in any manner it reasonably may deem appropriate.

 

		(e)	If either Party gives notice to the other Party of a Third Party Claim pursuant to the provisions of Section
15.4(a) and the notified Party does not give notice that it will indemnify the notifying Party in the manner set out in Section 15.4(b),
the notifying Party shall nevertheless send copies of all pleadings and other documents filed in any such Third Party lawsuit to the notified
Party and such notified Party may have the right to participate in the defense of the Third Party Claim in any manner permitted by Applicable
Law.

 

		15.5	Seller’s Insurance

 

		15.5.1	Seller shall obtain and maintain or cause to be obtained and maintained:

 

		(a)	insurance for the Driftwood LNG Terminal to the extent required by Applicable Law, and

 

		(b)	additional insurance, as is reasonably necessary and available on reasonable commercial terms, against
such other risks and at such levels as a Reasonable and Prudent Operator of a liquefaction terminal would obtain.

 

		15.5.2	Seller shall obtain or cause to be obtained the insurance required by Section 15.5.1 from a reputable
insurer (or insurers) reasonably believed to have adequate financial reserves. Seller shall exercise its best efforts, or shall cause
the applicable insured Person to use its best efforts, to collect any amount due under such insurance policies.

 

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		15.6	Buyer’s Insurance

 

Buyer shall ensure that insurances are
procured and maintained for each LNG Tanker in accordance with the following provisions. In all cases, such insurance shall establish
insurance coverages consistent with insurances to the standards which a ship owner operating reputable
LNG vessels, as a Reasonable and Prudent Operator, should observe in insuring LNG vessels of similar type, size, age and trade as such
LNG Tanker. In this regard:

 

		(a)	Hull and Machinery Insurance shall be placed and maintained with reputable marine underwriters; and

 

		(b)	Protection & Indemnity Insurance (“P&I Insurance”) shall be placed and maintained
with full P&I indemnity cover in the ordinary course from a P&I Club, and such LNG Tanker shall be entered for insurance with
a P&I Club, including pollution liability standard for LNG vessel and Certificate of Financial Responsibility.

 

		16.	Safety

 

		16.1	General

 

The Parties recognize the importance of
securing and maintaining safety in all matters contemplated in this Agreement, including the construction and operation of their respective
facilities and the LNG Tankers and transportation of LNG. It is their respective intentions to secure and maintain high standards of safety
in accordance with International Standards and the generally accepted standards prevailing in the LNG and LNG transportation industries
from time to time.

 

		16.2	Third Parties

 

Both Parties shall use reasonable efforts
to ensure that their respective employees, agents, operators, Transporter, contractors and suppliers shall have due regard to safety and
abide by the relevant regulations while they are performing work and services in connection with the performance of this Agreement, including
such work and services performed within and around the area of the Driftwood LNG Terminal and on board the LNG Tankers.

 

		17.	Exchange of Information

 

The Parties shall maintain close communication
and mutually provide and shall use reasonable efforts to exchange available information directly relevant to the fulfillment of the terms
and conditions of this Agreement.

 

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		18.	Confidentiality

 

		18.1	Duty of Confidentiality

 

The (i) terms of this Agreement and (ii)
any information disclosed by either Party to the other Party in connection with this Agreement which is not:

 

		(a)	already known to the recipient from sources other than the other Party;

 

		(b)	already in the public domain (other than as a result of a breach of the terms of this Section 18.1); or

 

		(c)	independently developed by the recipient;

 

shall be “Confidential Information”
and shall, unless otherwise agreed in writing by the disclosing Party, be kept confidential and shall not be used by the receiving Party
other than for a purpose connected with this Agreement or, except as provided below, disclosed to Third Parties by the receiving Party.
The Parties recognize that persons authorized to review the Confidential Information under Section 18.2 may form mental impressions (i.e.,
impressions not written or otherwise reduced to a record) regarding the Confidential Information. The use of these mental impressions
by such persons shall not be a violation of the restriction contained in this Section 18.1.

 

		18.2	Permitted Disclosures

 

		18.2.1	The Confidential Information, which either Party receives from the other, may be disclosed by such Party:

 

		(a)	to any Person who is such Party’s legal counsel, other professional consultant or adviser, Transporter,
insurer, accountant or construction contractor; provided that such disclosure is solely to assist the purpose for which such Person
was so engaged;

 

		(b)	to the operators of the Upstream Assets or Gas suppliers to Seller;

 

		(c)	if required and to the extent required by the rules of any recognized stock exchange or agency established
in connection therewith upon which the securities of such Party or a company falling within Section 18.2.1(g) are quoted;

 

		(d)	as may be required under federal or state securities or “Blue Sky” Applicable Laws;

 

		(e)	if required and to the extent required by the U.S. Department of Energy;

 

		(f)	without limiting Section 18.2.1(d) or (e), if required and to the extent required by any Applicable Laws,
or such Party becomes legally required (by oral questions, interrogatories, request for information or documents, orders issued by any
Governmental Authority or any other process) to disclose such information, or to the extent necessary to enforce Section 20.1 or 20.2
or any arbitration award or binding decision of an Expert (including by filing Confidential Information in proceedings before a court
or other competent judicial authority) or to enforce other rights of a party to the Dispute; provided that such Party shall, to
the extent practicable, give prior notice to the other Party of the requirement
and the terms thereof and shall cooperate with the other Party to minimize the disclosure of the information, seek a protective order
or other appropriate remedy, and if such protective order or other remedy is not obtained, then such Party will furnish only that portion
of such information that it is legally required to furnish;

 

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		(g)	to any of its Affiliates or shareholders (or any company involved in the provision of advice to any such
Affiliate or shareholder for the purposes of this Agreement) and any employee of that Party or of a company to which disclosure is permitted
pursuant to this Section 18.2.1(g);

 

		(h)	to any bona fide intended assignees of a Party’s interests under this Agreement;

 

		(i)	to any Third Party as reasonably necessary for the performance of a Party’s obligations under this
Agreement;

 

		(j)	to any arbitrator appointed in accordance with Section 20.1.4, to any Expert appointed pursuant to Section
20.2.1, or to any other party to an arbitration or Expert proceeding arising under or in connection with this Agreement, or to any witnesses
appearing in an arbitration under Section ‎20.1 or in an Expert proceeding under Section ‎20.2;
or

 

		(k)	to any Person reasonably required to see such Confidential Information, including the Lenders, in connection
with any bona fide financing or offering or sale of securities by Seller, Driftwood, Buyer or any Affiliate or shareholder of any
of the foregoing, to comply with the disclosure or other requirements of Applicable Law or of financial institutions or other participants
(including rating agencies) in such financing, offering or sale.

 

		18.2.2	The Party making the disclosure shall ensure that any Person listed in Section 18.2.1(a), (g), (h), (i),
(j) or (k) to which it makes the disclosure (excluding any legal counsel, arbitrator or Expert already bound by confidentiality obligations)
undertakes to hold such Confidential Information subject to confidentiality obligations equivalent to those set out in Section 18.1. In
the case of a disclosure to an employee made in accordance with Section 18.2.1(g), the undertaking shall be given by the company on its
own behalf and in respect of all its employees.

 

		18.2.3	Seller may disclose to other Driftwood LNG Terminal buyers Confidential Information related to scheduling,
operations or other technical information to comply with Seller’s performance of Section 8, but only to the extent necessary to
ensure the effective implementation thereof.

 

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		18.2.4	No press release concerning the execution of this Agreement or resolution of any Disputes shall be issued
unless agreed by the Parties.

 

		18.3	Confidential Information Remedy

 

The Parties acknowledge that breach of
the provisions of this Section 18 shall cause irreparable injury for which monetary damages are inadequate, difficult to compute, or both.
Accordingly, the Parties agree that the provisions of this Section 18 may be enforced by specific performance and that the non-breaching
Party shall be entitled to injunctive relief (without posting any bond or other security) in order to enforce the provisions of this Section
18. Any such relief shall be in addition to, and not in lieu of, any legal or equitable damages available to such Party.

 

		18.4	Duration of Confidentiality

 

The foregoing obligations with respect
to the Confidential Information shall remain in effect for three (3) years after this Agreement is terminated or expires.

 

		19.	Default and Termination

 

		19.1	Right to Suspend Performance

 

		19.1.1	Seller Right to Suspend. If (A) Seller has not received payment in respect of any amounts due under
any invoice(s) under this Agreement totaling in excess of USD [***] (US$[***]) within five (5) Business Days after the due date thereof,
or (B) Buyer is not in compliance with Section 15.3, then without prejudice to any other rights and remedies of Seller arising under this
Agreement or by Applicable Laws or otherwise, upon giving five (5) Business Days’ notice to Buyer:

 

		(a)	Seller may suspend delivery of any or all subsequent cargoes until (i) the amounts outstanding under such
invoice(s) and interest thereon have been paid in full, or (ii) Buyer is in compliance with Section 15.3, as the case may be.

 

		(b)	In the event of such suspension, Buyer shall not be relieved of any of its obligations under this Agreement,
and the provisions of Sections 5.7.2 to 5.7.7 shall apply with respect to each cargo scheduled in the ADP or Ninety Day Schedule which
is not delivered during the suspension.

 

		(c)	During the period that such suspension is effective, Seller shall have no obligation to make available
LNG to Buyer.

 

		19.1.2	Buyer Right to Suspend. Without prejudice to its rights under the Termination Event set out in
Section 19.2.1, if a Bankruptcy Event has occurred with respect to Seller, Buyer shall be entitled to suspend by written notice to Seller
the performance of its obligations under this Agreement to take and pay for LNG, until such Bankruptcy
Event is no longer occurring with respect to Seller. Buyer’s right to suspend shall not excuse Buyer from paying for LNG taken prior
to the suspension.

 

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		19.2	Termination Events

 

The following circumstances (each, a “Termination
Event”) shall give rise to the right of termination by the Party so indicated:

 

		19.2.1	in respect of (a) Seller, if a Bankruptcy Event has occurred with respect to Buyer or a guarantor that
has provided a guaranty hereunder on behalf of Buyer, and (b) Buyer, if a Bankruptcy Event has occurred with respect to Seller;

 

		19.2.2	in respect of either Party, if the other Party fails to pay or cause to be paid any amount or amounts
in the aggregate due in connection with this Agreement that are in excess of USD [***] (US$[***]), for a period of ten (10) Days or more
following the due date of the relevant invoice;

 

		19.2.3	in respect of either Party, violation of Section 25.2.1(i) or 25.4(b) by the other Party;

 

		19.2.4	in respect of either Party, in accordance with Section 2.3.4;

 

		19.2.5	in respect of Seller, if Buyer fails to comply with Section 15.3 or 21;

 

		19.2.6	in respect of Seller, if (a) Buyer or any guarantor under any guaranty delivered to Seller pursuant to
the terms of this Agreement fails to execute any Direct Agreement with Seller’s, Seller’s Affiliate’s, Tellurian Inc.’s
or Driftwood’s Lenders within sixty (60) Days after Seller’s request thereof, provided that such Direct Agreement complies
with the requirements in Section 21.4.2, or (b) in connection with any financing, Buyer fails to provide to the Lenders and the Lenders’
Agent any legal opinion that complies with the requirements in Section 21.4.1 within sixty (60) Days after Seller’s request thereof;

 

		19.2.7	in respect of Buyer, if (a) Seller has declared Force Majeure or claimed Upstream FM one (1) or more times
and the interruptions resulting from such Force Majeure and Upstream FM total twenty-four (24) Months during any thirty-six (36) Month
period, and (b) such Force Majeure and Upstream FM have resulted in Seller not making available [***] percent ([***]%) or more of the
annualized ACQ during such periods of Force Majeure and Upstream FM, collectively (provided that LNG that Buyer elects to take on a Henry
Hub basis pursuant to Section 14.3.4 and that Seller makes available shall be considered made available for the purposes of this Section
19.2.7(b));

 

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		19.2.8	in respect of Seller, if (a) Buyer has declared Force Majeure one (1) or more times and the interruptions
resulting from such Force Majeure total twenty-four (24) Months during any thirty-six (36) Month period, and (b) such Force Majeure has
resulted in Buyer not taking [***] percent ([***]%) or more of the annualized ACQ during such periods of Force Majeure (provided that
LNG that Buyer elects to take on a Henry Hub basis pursuant to Section 14.3.4 and that Buyer takes shall be considered taken for the purposes
of this Section 19.2.8(b));

 

		19.2.9	in respect of either Party, pursuant to the terms of Section 4.4.2 as applicable to such Party;

 

		19.2.10 	in respect of either Party, violation of Section 25.1 by the other Party;

 

		19.2.11 	in respect of Buyer, and except as otherwise agreed by the Parties in writing, if Seller fails to
                                                                         make available (as such obligation for any cargo is set forth in Section 5.6.1) and is not deemed to make available [***] percent
                                                                         ([***]%) of the cargoes scheduled in any given twelve (12) Month period (provided that LNG that Buyer elects to take on an HH basis
                                                                         pursuant to Section ‎14.3.4 and that Seller makes available shall be considered made available for the purposes of this
                                                                         Section 19.2.11);

 

		19.2.12	in respect of Seller, and except as otherwise agreed by the Parties in writing, if Buyer fails to
                                                                        take (as such obligation for any cargo is set forth in Section 5.7.1) [***] percent ([***]%) of the cargoes scheduled in any given
                                                                        twelve (12) Month period (provided that LNG that Buyer elects to take on an HH basis pursuant to Section ‎14.3.4 and that
                                                                        Buyer takes shall be considered taken for the purposes of this Section 19.2.12);

 

		19.2.13	in respect of Buyer, if, prior to the application of Section ‎15.2.6(a), Seller Aggregate
                                                                        Liability exceeds the Seller Liability Cap; and

 

		19.2.14	in respect of Seller, if, prior to the application of Section 15.2.7(a), Buyer Aggregate Liability
                                                                        exceeds the Buyer Liability Cap.

 

		19.3	Termination

 

		19.3.1	Notice of Termination. Upon the occurrence of any Termination Event, the Party which has the right
under Section 19.2 to terminate this Agreement (“Terminating Party”) may give notice thereof to the other Party, specifying
in reasonable detail the nature of such Termination Event.

 

		19.3.2	Timing. Except with respect to the Termination Events described in Section 19.3.3 and 19.3.4
                                                                       at any time after the expiry of a period of forty-five (45) Days after the Terminating Party gave notice of a Termination Event
                                                                       pursuant to Section 19.3.1, unless the circumstances constituting the Termination Event have been fully remedied or have ceased to
                                                                       apply, the Terminating Party may terminate this
Agreement with immediate effect by giving notice of such termination to the other Party.

 

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		19.3.3	Certain Events. Upon the occurrence of a Termination Event described in Section 19.2.1, 19.2.3,
19.2.5, 19.2.6, 19.2.7, 19.2.8, 19.2.9, 19.2.10, 19.2.11, or 19.2.12, the Terminating Party’s notice pursuant to Section 19.3.1
shall terminate this Agreement immediately.

 

		19.3.4	Liability Cap. In the case of a Termination Event under Section 19.2.13 or 19.2.14, if:

 

		(a)	the non-defaulting Party has provided notice specifying such Termination Event to the defaulting Party;

 

		(b)	within forty (40) Days after receipt by the defaulting Party of such notice, the event has not been resolved
by the defaulting Party (i) paying to the non-defaulting Party an amount equal to the amount by which Seller Aggregate Liability (prior
to the application of Section 15.2.6(a)) or Buyer Aggregate Liability (prior to the application of Section 15.2.7(a)), as
applicable, exceeds the Seller Liability Cap or Buyer Liability Cap, as applicable, and (ii) executing (together with the applicable non-defaulting
Party) an amendment to this Agreement to increase the Seller Liability Cap or Buyer Liability Cap, as applicable, by an additional [***]
percent ([***]%); provided, however, that the cure period under this Section 19.3.4(b) shall apply only to the first time
that such Termination Event arises under this Agreement in respect of a given defaulting Party and shall not apply in the case of subsequent
times that a Termination Event arises under Section 19.2.13 or 19.2.14 in respect of the same Party; and

 

		(c)	the non-defaulting Party issues a termination notice, in the case of the first time a Termination Event
arises under Section 19.2.13 or 19.2.14, as applicable, in respect of the defaulting Party, not earlier than the expiration of
the cure period provided in Section 19.3.4(b) and not later than ninety (90) Days after such expiration, and in the case of any
subsequent time that such Termination Event arises under this Agreement, not later than ninety (90) Days after the non-defaulting Party’s
notice pursuant to Section 19.3.4(a), 
	 	 	 
	 	then upon issuance of such termination notice under Section 19.3.4(c) this Agreement shall terminate
               with immediate effect.

 

 

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		19.4	Rights Accrued Prior to Termination

 

Termination of this Agreement shall be
without prejudice to:

 

		(a)	the rights and liabilities of the Parties accrued prior to or as a result of such termination; and

 

		(b)	claims for breaches of Section 18 that occur during the three (3) year period after termination of this
Agreement.

 

		19.5	Final Reconciliation

 

Within sixty (60) Days after expiration
of the Term or the earlier termination of this Agreement, Seller and Buyer shall determine the amount of any final settlement payment.
Seller shall send a statement to Buyer, or Buyer shall send a statement to Seller, as the case may be, for any final settlement payment
due. Seller or Buyer, as the case may be, shall pay such amount no later than twenty (20) Business Days after the date of receipt of such
statement.

 

		19.6	Survival

 

The following provisions shall survive
expiration or termination of this Agreement: Sections 1, 7.7.2, 7.7.3, 9, 10, 11, 13.8.2, 15.1, 15.2, 15.3, 15.4, 18 (to the extent provided
therein), 19.4, 19.5 and 20 to 25, in addition to this Section 19.6.

 

		20.	Dispute Resolution and Governing Law

 

		20.1	Dispute Resolution

 

		20.1.1	Arbitration. Any Dispute (other than a Dispute submitted to an Expert under Section 20.2.1) shall
be exclusively and definitively resolved through final and binding arbitration, it being the intention of the Parties that this is a broad
form arbitration agreement designed to encompass all possible claims and disputes under this Agreement.

 

		20.1.2	Rules. The arbitration shall be conducted in accordance with the International Arbitration Rules
of the American Arbitration Association (“AAA”) (as then in effect).

 

		20.1.3	Number of Arbitrators. The arbitral tribunal shall consist of three (3) arbitrators, who shall
endeavor to complete the final hearing in the arbitration within six (6) Months after the appointment of the last arbitrator.

 

		20.1.4	Method of Appointment of the Arbitrators. If there are only two (2) parties to the Dispute, then
each party to the Dispute shall appoint one (1) arbitrator within thirty (30) Days of the filing of the arbitration, and the two arbitrators
so appointed shall select the presiding arbitrator within thirty (30) Days after the latter of the two arbitrators has been appointed
by the parties to the Dispute. If a party to the Dispute fails to appoint its party-appointed arbitrator or if the two party-appointed
arbitrators cannot reach an agreement on the presiding arbitrator within the applicable time period, then the AAA shall serve as the appointing
authority and shall appoint the remainder of the three arbitrators not
yet appointed. If there are more than two parties to the Dispute, then within thirty (30) Days of the filing of the arbitration, all claimants
shall jointly appoint one arbitrator and all respondents shall jointly appoint one arbitrator, and the two arbitrators so appointed shall
select the presiding arbitrator within thirty (30) Days after the latter of the two arbitrators has been appointed by the parties to the
Dispute. For the purposes of appointing arbitrators under this Section 20, (a) Buyer, any guarantor under any guaranty required to be
delivered to Seller pursuant to the terms of this Agreement and all Persons whose interest in this Agreement derives from them shall be
considered as one party; and (b) Seller and all Persons whose interest in this Agreement derives from Seller shall be considered
as one party. If either all claimants or all respondents fail to make a joint appointment of an arbitrator, or if the party-appointed
arbitrators cannot reach an agreement on the presiding arbitrator within the applicable time period, then the AAA shall serve as the appointing
authority and shall appoint the remainder of the three (3) arbitrators not yet appointed.

 

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		20.1.5	Consolidation. If multiple arbitration proceedings are initiated under this Agreement or any guaranty
required to be delivered to Seller pursuant to the terms of this Agreement, the subject matters of which are related by common questions
of law or fact and which could result in conflicting awards or obligations, then any party to any such dispute may request prior to the
appointment of the arbitrators for such multiple or subsequent disputes that all such proceedings be consolidated into a single arbitral
proceeding. Such request shall be directed to the AAA, which shall consolidate appropriate proceedings into a single proceeding unless
consolidation would result in undue delay for the arbitration of the disputes.

 

		20.1.6	Place and Seat of Arbitration. Unless otherwise agreed by all parties to the Dispute, the place
and seat of arbitration shall be New York, New York.

 

		20.1.7	Language. The arbitration proceedings shall be conducted in the English language, and the arbitrators
shall be fluent in the English language.

 

		20.1.8	Entry of Judgment. The award of the arbitral tribunal shall be final and binding. Judgment on the
award of the arbitral tribunal may be entered and enforced by any court of competent jurisdiction. The Parties agree that service of process
for any action to enforce an award may be accomplished according to the procedures of Section 24, as well as any other procedure authorized
by law.

 

		20.1.9	Notice. All notices required for any arbitration proceeding shall be deemed properly given if given
in accordance with Section 24.

 

		20.1.10	Qualifications and Conduct of the Arbitrators. All arbitrators shall be and remain at all
                                                                               times wholly impartial, and, once appointed, no arbitrator shall have any ex parte communications
with any of the parties to the Dispute concerning the arbitration or the underlying Dispute other than communications directly concerning
the selection of the presiding arbitrator, where applicable.

 

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		20.1.11	Interim Measures.
                                            Any party to the Dispute may apply to a court in New York, New York, for interim measures
                                            (a) prior to the constitution of the arbitral tribunal (and thereafter as necessary to enforce
                                            the arbitral tribunal’s rulings); or (b) in the absence of the jurisdiction of the
                                            arbitral tribunal to rule on interim measures in a given jurisdiction. The Parties agree
                                            that seeking and obtaining such interim measures shall not waive the right to arbitration.
                                            The Parties unconditionally and irrevocably submit to jurisdiction in New York, New York,
                                            for the limited purposes of an application for interim measures under this Section 20.1.11.
                                            The arbitrators (or in an emergency the presiding arbitrator acting alone in the event one
                                            or more of the other arbitrators is unable to be involved in a timely fashion) may grant
                                            interim measures including injunctions, attachments and conservation orders in appropriate
                                            circumstances, which measures may be immediately enforced by court order. Hearings on requests
                                            for interim measures may be held in person, by telephone, by video conference or by other
                                            means that permit the parties to the Dispute to present evidence and arguments.

 

		20.1.12	Costs and Attorneys’ Fees. The arbitral tribunal is authorized to award costs of the
                                                                               arbitration in its award, including: (a) the fees and expenses of the arbitrators; (b) the costs of assistance required by the
                                                                               tribunal, including its experts; (c) the fees and expenses of the administrator; (d) the reasonable costs for legal representation
                                                                               of a successful party; and (e) any such costs incurred in connection with an application for interim or emergency relief and to
                                                                               allocate those costs between the parties to the Dispute. The costs of the arbitration proceedings, including attorneys’ fees,
                                                                               shall be borne in the manner determined by the arbitral tribunal.

 

		20.1.13	Interest.
                                            The award shall include pre-award and post-award interest, as determined by the arbitral
                                            tribunal, from the date of any default or other breach of this Agreement until the arbitral
                                            award is paid in full. Interest shall accrue at a rate per annum equal to [***] percent ([***]%)
                                            above the SOFR (as in effect on the Day such award was issued) on and from the Day when such
                                            award was issued until the date of its repayment, provided that, without prejudice
                                            to the other terms of this Agreement, if such period lasts longer than ninety (90) Days,
                                            the applicable SOFR for each successive term of ninety (90) Days during that period shall
                                            be that in effect on the first (1st) Day of that ninety (90) Day period. Interest
                                            shall accrue from Day to Day and be calculated on the basis of a three hundred sixty (360)
                                            Day year.

 

		20.1.14	Currency of Award. The arbitral award shall be made and payable in USD, free of any Tax or
                                                                                       other deduction.

 

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		20.1.15	Waiver of Challenge to Decision or Award. To the extent permitted by law, the Parties hereby waive
any right to appeal from or challenge any arbitral decision or award, or to oppose enforcement of any such decision or award before a
court or any Governmental Authority, except with respect to the limited grounds for modification or non-enforcement provided by any applicable
arbitration statute or treaty.

 

		20.1.16	Confidentiality.
                                            Any arbitration or Expert determination relating to a Dispute (including an arbitral award,
                                            a settlement resulting from an arbitral award, documents exchanged or produced during an
                                            arbitration or Expert proceeding, and memorials, briefs or other documents prepared for the
                                            arbitration or Expert proceeding) shall be Confidential Information subject to the confidentiality
                                            provisions of Section 18; provided, however, that breach of such confidentiality provisions
                                            shall not void any settlement, determination or award.

 

		20.2	Expert Determination

 

		20.2.1	General. In the event of any disagreement between the Parties regarding a measurement under Exhibit
A hereto or any other Dispute which the Parties agree to submit to an Expert (in either case, a “Measurement Dispute”),
the Parties hereby agree that such Measurement Dispute shall be resolved by an Expert selected as provided in this Section 20.2.1. The
Expert is not an arbitrator of the Measurement Dispute and shall not be deemed to be acting in an arbitral capacity. The Party desiring
an expert determination shall give the other Party notice of the request for such determination. If the Parties are unable to agree upon
an Expert within ten (10) Days after receipt of the notice of request for an expert determination, then, upon the request of either of
the Parties, the International Centre for Expertise of the International Chamber of Commerce (“ICC”) shall appoint
such Expert and shall administer such expert determination through the ICC’s Rules for Expertise. The Expert shall be and remain
at all times wholly impartial, and, once appointed, the Expert shall have no ex parte communications with either of the Parties
concerning the expert determination or the underlying Measurement Dispute. The Parties shall cooperate fully in the expeditious conduct
of such expert determination and provide the Expert with access to all facilities, books, records, documents, information and personnel
necessary to make a fully informed decision in an expeditious manner. Before issuing a final decision, the Expert shall issue a draft
report and allow the Parties to comment on it. The Expert shall endeavor to resolve the Measurement Dispute within thirty (30) Days (but
no later than sixty (60) Days) after his appointment, taking into account the circumstances requiring an expeditious resolution of the
matter in dispute.

 

		20.2.2	Final and Binding. The Expert’s decision shall be final and binding on the Parties unless
challenged in an arbitration pursuant to Section 20.1 within thirty (30) Days of the date the Expert’s decision. If challenged,
(a) the decision shall remain binding and be
implemented unless and until finally replaced by an award of the arbitrators; (b) the decision shall be entitled to a rebuttable presumption
of correctness; and (c) the Expert shall not be appointed in the arbitration as an arbitrator or as advisor to either Party without the
written consent of both Parties.

 

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		20.2.3	Arbitration of Expert Determination. In the event that a Party requests expert determination for
a Measurement Dispute which raises issues that require determination of other matters in addition to correct measurement under Exhibit
A hereto, then either Party may elect to refer the entire Measurement Dispute for arbitration under Section 20.1.1. In such case, the
arbitrators shall be competent to make any measurement determination that is part of a Dispute. An expert determination not referred to
arbitration shall proceed and shall not be stayed during the pendency of an arbitration.

 

		20.3	Governing Law

 

This Agreement shall be governed by and
construed in accordance with the laws of the State of New York (United States of America) without regard to principles of conflict of
laws that would specify the use of other laws.

 

		20.4	Immunity

 

		20.4.1	Each Party, to the maximum extent permitted by Applicable Law, as to itself and its assets, hereby irrevocably,
unconditionally, knowingly and intentionally waives any and all rights of immunity (sovereign or otherwise) and agrees not to claim, or
assert any immunity with respect to the matters covered by this Agreement in any arbitration, Expert proceeding, or other action with
respect to this Agreement, whether arising by statute or otherwise, that it may have or may subsequently acquire, including rights under
the doctrines of sovereign immunity and act of state, immunity from legal process (including service of process or notice, pre-judgment
or pre-award attachment, attachment in aid of execution, or otherwise), immunity from jurisdiction or judgment of any court, arbitrator,
Expert or tribunal (including any objection or claim on the basis of inconvenient forum), and immunity from enforcement or execution of
any award or judgment or any other remedy.

 

		20.4.2	Each Party hereby irrevocably, unconditionally, knowingly and intentionally:

 

		(a)	agrees that the execution, delivery and performance by such Party of this Agreement constitute private
and commercial acts rather than public or governmental acts; and

 

		(b)	consents in respect of the enforcement of any judgment against such Party in any such proceedings in any
jurisdiction and to the giving of any relief or the issue of any process in connection with such proceedings (including the making, enforcement
or execution of any such judgment or any order arising out of any such judgment against or in respect of any property whatsoever irrespective
of its use or intended use).

 

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		20.5	Waiver of Jury Trial

 

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, THE PARTIES HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
AGREEMENT.

 

		21.	Successors; Assignments

 

		21.1	Successors

 

This Agreement shall be binding upon and
inure to the benefit of any successor to each of Seller and Buyer.

 

		21.2	Assignment by Buyer

 

		21.2.1	Prior Written Consent. Buyer may assign this Agreement in its entirety (but not in part) to another
Person that is not an Affiliate of Buyer, for the remainder of the Term, upon the prior written consent of Seller (which consent shall
not be unreasonably withheld or delayed), provided that:

 

		(a)	unless such assignee has an Acceptable Credit Rating, a Guaranty is provided to Seller prior to such novation
or assignment; and

 

		(b)	such assignee assumes all of the obligations of Buyer under this Agreement commencing as of the date of
the novation or assignment by execution of a copy of this Agreement in its own name (countersigned by Seller) or by execution of a binding
assignment and assumption agreement which is enforceable by Seller.

 

		21.2.2	Without Prior Consent to Affiliates. Buyer may assign this Agreement in its entirety (but not in
part), for the remainder of the Term, without Seller’s prior consent, to an Affiliate of Buyer, provided that:

 

		(a)	unless such Affiliate assignee has an Acceptable Credit Rating, a Guaranty is provided to Seller prior
to such novation or assignment;

 

		(b)	such Affiliate assignee assumes all of the obligations of Buyer under this Agreement commencing as of
the date of the novation or assignment by execution of a copy of this Agreement in its own name (countersigned by Seller) or by execution
of a binding assignment and assumption agreement which is reasonably acceptable in form and substance to, and enforceable by, Seller;
and

 

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		(c)	performance of this Agreement by Seller with such Affiliate assignee would comply with Applicable Laws
and all relevant Approvals. 
	 	 	 
	 	Any failure to satisfy
the requirements under Sections 21.2.2(a) to (c) shall render such novation or assignment void and unenforceable.

 

		21.2.3	Further Obligations. Upon a novation or assignment in whole by Buyer in accordance with this Section
21.2, the assignor shall be released from all further obligations, duties and liabilities under this Agreement, other than any obligations,
duties and liabilities arising prior to the date of effectiveness of such novation or assignment.

 

		21.3	Assignments by Seller

 

		21.3.1	Prior Written Consent. Seller may novate or assign this Agreement in its entirety (but not in part)
to another Person that is not an Affiliate of Seller, for the remainder of the Term, upon the prior written consent of Buyer (which consent
shall not be unreasonably withheld or delayed), provided that:

 

		(a)	such assignee assumes all of the obligations of Seller under this Agreement commencing as of the date
of the novation or assignment by execution of a copy of this Agreement in its own name (countersigned by Buyer) or by execution of a binding
assignment and assumption agreement which is enforceable by Buyer;

 

		(b)	such assignee is the purchaser or transferee of the Driftwood LNG Terminal;

 

		(c)	such assignee has satisfactorily cleared Buyer’s know-your-customer process, which shall be carried
out in a manner consistent with international standards (such clearance not to be unreasonably withheld or delayed by Buyer);

 

		(d)	such assignee or its Affiliates will have all Approvals and export authorizations equivalent to the Export
Authorizations to the extent needed to perform Seller’s obligations under this Agreement;

 

		(e)	performance of this Agreement by Buyer with such assignee would comply with Applicable Laws and all relevant
Approvals; and

 

		(f)	such assignee has or has contracted to have sufficient technical and operational capabilities in the LNG
or other related hydrocarbon industries to perform its obligations under this Agreement.

 

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		21.3.2	Without Prior Consent to Affiliates. Seller may novate or assign this Agreement in its entirety
(but not in part), for the remainder of the Term, without Buyer’s prior consent, to an Affiliate of Seller, provided that:

 

		(a)	such Affiliate assignee assumes all of the obligations of Seller under this Agreement commencing as of
the date of the novation or assignment by execution of a copy of this Agreement in its own name (countersigned by Buyer) or by execution
of a binding assignment and assumption agreement which is reasonably acceptable in form and substance to, and enforceable by, Buyer;

 

		(b)	performance of this Agreement by Buyer with such Affiliate assignee would comply with Applicable Laws
and all relevant Approvals;

 

		(c)	such Affiliate assignee is the purchaser or transferee of the Driftwood LNG Terminal;

 

		(d)	such Affiliate assignee has satisfactorily cleared Buyer’s know-your-customer process, which shall
be carried out in a manner consistent with international standards (such clearance not to be unreasonably withheld or delayed by Buyer);
and

 

		(e)	such Affiliate assignee or its Affiliates will have all Approvals and export authorizations equivalent
to the Export Authorizations to the extent needed to perform Seller’s obligations under this Agreement. 
	 	 	 
	 	Any failure to satisfy
the requirements under Sections 21.3.2(a) to (e) shall render such novation or assignment void and unenforceable.

 

		21.3.3	Further Obligations. Upon a novation or assignment by Seller in accordance with this Section 21.3,
the assignor shall be released from all further obligations, duties and liabilities under this Agreement, other than any obligations,
duties and liabilities arising prior to the date of effectiveness of such novation or assignment.

 

		21.4	Seller, Tellurian Inc., Driftwood and Affiliate Financing

 

		21.4.1	Lender Financing. Seller, Tellurian Inc., Driftwood and their respective Affiliates shall have
the right to obtain financing (including non-recourse or limited recourse financing) from Lenders. In connection with any financing or
refinancing obtained by Seller, Tellurian Inc., Driftwood or their respective Affiliates, Buyer shall, if so requested by Seller, deliver
to Seller’s, Tellurian Inc.’s, Driftwood’s or their respective Affiliates’ Lenders or the agent acting on behalf
of any such Lenders (“Lenders’ Agent”) certified copies of its corporate charter, resolutions relevant to the
financing, incumbency certificates, financial statements, and such other items or information upon the reasonable request by Lenders or
Lenders’ Agent. Buyer shall not be required to provide
any documents or information which would cause it to be in breach of Applicable Laws, including the rules of any recognized stock exchange
on which Buyer’s stock is quoted. Any financial statements provided by Buyer shall only be provided to Lenders and/or Lenders’
Agent unless otherwise agreed to by Buyer in writing. Provided all costs and expenses are reimbursed by Seller, Buyer shall also provide
to the Lenders and/or Lenders’ Agent legal opinions in respect of the documents which it and Seller are party to in the form and
substance and from counsel reasonably acceptable to the Lenders and/or Lenders’ Agent.

 

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		21.4.2	Assignment as Security. Buyer further acknowledges and agrees that Seller may collaterally assign,
transfer, or otherwise encumber, all or any of its rights, benefits and obligations under this Agreement and each guaranty required to
be delivered to Seller pursuant to the terms of this Agreement to such Lenders or Lenders’ Agent as security for Seller’s,
Seller’s Affiliates’, Tellurian Inc.’s or Driftwood’s obligations to such Lenders (including to a purchaser at
any foreclosure sale or any assignee or transferee under any instrument of assignment or transfer in lieu of foreclosure) following an
event of default by Seller, any Affiliate of Seller, Tellurian Inc. or Driftwood under the financing documents entered into by Seller,
any Affiliate of Seller, Tellurian Inc. or Driftwood with such Lenders, provided any assignment, transfer or encumbrance to Lenders
or Lenders’ Agent is not prohibited by any Applicable Law or Export Control and Sanctions Laws, which would prevent Buyer from dealing
with Lenders or Lenders’ Agent, and provided, further that all costs and expenses, including any external legal fees, incurred
by Buyer in relation to such novation or assignment are reimbursed in full by Seller. Without prejudice to the foregoing, upon Seller’s
request pursuant to a notice hereunder, Buyer shall enter into, and shall cause any guarantor under any guaranty delivered to Seller pursuant
to the terms of this Agreement to enter into, direct agreements or consent agreements (each, a “Direct Agreement”)
each in a form acceptable to Buyer (acting reasonably), provided that, entrance into such Direct Agreement shall be subject to
satisfactory clearance of the parties thereto by Buyer’s know your customer process, which shall be carried out in a manner consistent
with international standards (such clearance not to be unreasonably withheld or delayed by Buyer). Buyer or such guarantor shall, pursuant
to any such Direct Agreement:

 

		(a)	provide such undertakings that are normal and customary
in project financings or refinancings; provided, however, that, (i) in the case of the Buyer, such undertakings
do not materially affect Buyer’s rights or obligations under this Agreement and in the case of the guarantor, such undertakings
do not affect the guarantor’s rights or obligations under any guaranty provided to Seller pursuant to the terms of this Agreement,
except as otherwise provided in the remaining provisions of this Section 21.4.2, and (ii) Buyer shall not be required to provide (or
cause to be provided) in connection with this Agreement any guaranty or similar commitment in favor of the Lenders, Seller or any other
Person, other than any guaranty required to be delivered to Seller pursuant to the terms of this Agreement;

 

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		(b)	consent to (i) the collateral assignment of Seller’s, Seller’s Affiliates’, Tellurian
Inc.’s or Driftwood’s rights and obligations under this Agreement or the guaranty, as applicable, to the Lenders or the Lenders’
Agent and (ii) the subsequent assignment and transfer of this Agreement or the guaranty, as applicable, to the Lenders’ Agent or
other designee or nominee of the Lenders (including a purchaser at any foreclosure sale or any assignee or transferee under any instrument
of assignment or transfer in lieu of foreclosure) following an event of default by Seller, any Affiliate of Seller, Tellurian Inc. or
Driftwood under the financing documents entered into by Seller, any Affiliate of Seller, Tellurian Inc. or Driftwood with the Lenders;
provided, that any such assignee assumes all of the obligations of Seller under this Agreement arising or accruing from and after the
date of such assignment and provided any assignment or transfer is not prohibited by any Applicable Law or Export Control and Sanctions
Laws;

 

		(c)	provide representations and warranties that this Agreement or the guaranty, as applicable, is in full
force and effect and has not been modified or amended (other than as otherwise disclosed to the Lenders) and that, to Buyer’s knowledge,
there are no defaults by Buyer or a guarantor existing under this Agreement or the guaranty, as applicable;

 

		(d)	in the case of Buyer, provide representations and warranties regarding the corporate existence of Buyer,
its authority to enter into and perform this Agreement and that this Agreement is the legal, valid and binding obligation of Buyer, enforceable
against Buyer in accordance with its terms, and in the case of guarantor, provide representations and warranties regarding the corporate
existence of guarantor, its authority to enter into and perform the guaranty and that the guaranty is the legal, valid and binding obligation
of guarantor, enforceable against guarantor in accordance with its terms;

 

		(e)	agrees to make payments of amounts owed under this Agreement or the guaranty, as applicable, and as agreed
in the Direct Agreement;

 

		(f)	in the case of Buyer, agree to give Lenders and Lenders’ Agent notice of and an opportunity to cure
any default by Seller under this Agreement; and

 

		(g)	agree to modify or clarify provisions of this Agreement, as reasonably requested by the Lenders or the
Lenders’ Agent; provided that any such modification or clarification shall be subject to Buyer’s consent (not to be unreasonably
withheld).

 

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		22.	Contract Language

 

This Agreement, together with the Exhibits
hereto, shall be made and originals executed in the English language. In case of any difference in meaning between the English language
original version and any translation thereof, the English language original version shall govern.

 

		23.	Miscellaneous

 

		23.1	Disclaimer of Agency

 

This Agreement does not appoint either
Party as the agent, partner or legal representative of the other for any purposes whatsoever, and neither Party shall have any express
or implied right or authority to assume or to create any obligation or responsibility on behalf of or in the name of the other Party.

 

		23.2	Entire Agreement

 

This Agreement, together with the Exhibits
hereto, constitutes the entire agreement between the Parties in respect of the subject matter hereof and includes all promises and representations,
express or implied, and supersedes all other prior agreements and representations, written or oral, between the Parties relating to the
subject matter hereof. Anything that is not contained or expressly incorporated by reference in this instrument, is not part of this Agreement.

 

		23.3	Third Party Beneficiaries

 

The Parties do not intend any term of
this Agreement to be for the benefit of, or enforceable by, any Third Party except as expressly provided in Section 7.7. The Parties may
rescind or vary this Agreement, in whole or in part, without the consent of any Third Party, including those Third Parties referred to
under Section 7.7, even if as a result such Third Party’s rights to enforce a term of this Agreement will be varied or extinguished.

 

		23.4	Amendments and Waiver

 

This Agreement may not be supplemented,
amended, modified or changed except by an instrument in writing signed by Seller and Buyer and expressed to be a supplement, amendment,
modification or change to this Agreement. A Party shall not be deemed to have waived any right or remedy under this Agreement by reason
of such Party’s failure to enforce such right or remedy.

 

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		23.5	Exclusion

 

The United Nations Convention on Contracts
for the International Sale of Goods (and the Convention on the Limitation Period in the International Sale of Goods) shall not apply to
this Agreement and the respective rights and obligations of the Parties hereunder.

 

		23.6	Further Assurances

 

Each Party hereby agrees to take all such
action as may be necessary to effectuate fully the purposes of this Agreement, including causing this Agreement or any document contemplated
herein to be duly registered, notarized, attested, consularized and stamped in any applicable jurisdiction.

 

		23.7	Severability

 

If and for so long as any provision of
this Agreement shall be deemed to be judged invalid for any reason whatsoever, such invalidity shall not affect the validity or operation
of any other provision of this Agreement except only so far as shall be necessary to give effect to the construction of such invalidity,
and any such invalid provision shall be deemed severed from this Agreement without affecting the validity of the balance of this Agreement.

 

		23.8	Expenses

 

Each Party shall be responsible for and
bear all of its own costs and expenses incurred in connection with the preparation, negotiation and completion of this Agreement.

 

		23.9	Representations and Warranties of Buyer

 

As of the Effective Date and until the
expiration or termination of this Agreement, Buyer represents, undertakes and warrants that:

 

		23.9.1	Buyer is and shall remain duly formed and in good standing under the laws of the jurisdiction of its organization;

 

		23.9.2	Buyer has the requisite power, authority and legal right to execute and deliver, and to perform its obligations
under, this Agreement;

 

		23.9.3	Buyer has not incurred any liability to any financial advisor, broker or finder for any financial advisory,
brokerage, finder’s or similar fee or commission in connection with the transactions contemplated by this Agreement for which Seller
or any of its Affiliates could be liable; and

 

		23.9.4	neither the execution, delivery, nor performance of this Agreement violates or will violate, results
                                                                       or will result in a breach of or constitutes or will constitute a default under any provision of Buyer’s organizational
                                                                       documents, any law, judgment, order, decree, rule, or regulation of any court, administrative agency, or other instrumentality of
                                                                       any Governmental Authority or of any other material agreement or instrument to which Buyer is a party.

 

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		23.10	Representations and Warranties of Seller

 

As of the Effective Date and until the
expiration or termination of this Agreement, Seller represents, undertakes and warrants that:

 

		23.10.1	Seller is and shall remain duly formed and in good standing under the laws of the jurisdiction
                                                                      of its organization;

 

		23.10.2	Seller has the requisite power, authority and legal right to execute and deliver, and to perform
                                                                            its obligations under this Agreement;

 

		23.10.3	Seller has not incurred any liability to any financial advisor, broker or finder for any
                                                                            financial advisory, brokerage, finder’s or similar fee or commission in connection with the transactions contemplated by this
                                                                            Agreement for which Buyer or any of its Affiliates could be liable; and

 

		23.10.4	neither the execution, delivery, nor performance of this Agreement, violates or will violate,
                                                                      results or will result in a breach of, or constitutes or will constitute a default under, any provision of Seller’s
                                                                      organizational documents, any law, judgment, order, decree, rule, or regulation of any court, administrative agency, or other
                                                                      instrumentality of any Governmental Authority or of any other material agreement or instrument to which Seller is a party.

 

		23.11	Counterparts

 

This Agreement may be executed in any
number of counterparts, each of which shall be deemed an original and all of which taken together shall constitute a single agreement.
The exchange of copies of this Agreement and of signature pages by electronic mail in “portable document format” (“.pdf”)
form, or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, or by a combination
of such means, shall constitute effective execution and delivery of this Agreement as to the Parties and may be used in lieu of an original
Agreement for all purposes. Signatures of the Parties transmitted by electronic transmission shall be deemed to be original signatures
for all purposes. Except for cases of fraud or forgery, no Party shall raise the use of any electronic signature or the use of electronic
mail or other similar transmission method as a means to deliver a signature to this Agreement or any amendment hereto as the basis of
a defense to the formation or enforceability of a contract, and each Party forever waives any such defense.

 

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		23.12	Multiple SPAs

 

		23.12.1	The Parties acknowledge that they have entered into that certain LNG Sale and Purchase Agreement 2
                                                                      dated as of the Effective Date (“SPA 2”).

 

		23.12.2	The Parties expressly agree that all rights and obligations (including in respect of all claims,
                                                                      demands, legal proceedings and actions; all losses, liabilities, damages, costs, judgments, settlements and expenses (whether or not
                                                                      resulting from claims by third parties), including interest and penalties with respect thereto and reasonable attorneys’ and
                                                                      accountants’ fees and expenses; and all mitigation measures) of Driftwood LNG LLC (or its successor or permitted assignee
                                                                      pursuant to SPA 2), and Shell NA LNG LLC (or its successor or permitted assignee pursuant to SPA 2), under SPA 2, whether in
                                                                      contract or at law, are wholly separate and in isolation of, and shall not merge in any way with, any rights and obligations
                                                                      (including in respect of all Claims, all Losses, and all mitigation measures) of the Parties under this Agreement. The Parties
                                                                      expressly waive any right to combine any such rights or obligations under SPA 2 with such rights and obligations under this
                                                                      Agreement. Without prejudice to the terms of SPA 2 and any defaults arising thereunder, default by a Party under this Agreement
                                                                      shall not trigger a default by such Party under SPA 2. Without prejudice to the terms of this Agreement and any defaults arising
                                                                      hereunder, default by a Party under SPA 2 shall not trigger a default by such Party under this Agreement. Default by a Party under
                                                                      this Agreement shall not excuse performance under SPA 2 by any party thereto, and default under SPA 2 by a party thereto shall not
                                                                      excuse a Party’s performance under this Agreement. No Party shall have any obligation to take any action or inaction under
                                                                      this Agreement to mitigate the losses or liabilities that may arise in respect of SPA 2. Without limiting the foregoing, (a) in no
                                                                      way shall the Seller Liability Cap under this Agreement be merged with the corresponding seller liability cap under SPA 2, and the
                                                                      Parties’ respective rights and obligations in respect of the Seller Liability Cap shall not vary based on performance or
                                                                      nonperformance of SPA 2, and (b) in no way shall the Buyer Liability Cap under this Agreement be merged with the corresponding buyer
                                                                      liability cap under SPA 2, and the Parties’ respective rights and obligations in respect of the Buyer Liability Cap shall not
                                                                      vary based on performance or nonperformance of SPA 2.

 

		23.12.3	Without prejudice to Section 20.1.5, if the Parties initiate multiple arbitration proceedings under
                                                                      this Agreement and under one or more of (a) any guaranty required to be delivered to Seller pursuant to the terms of this Agreement,
                                                                      (b) SPA 2, and (c) any guaranty required to be delivered to Seller pursuant to the terms of SPA 2, the subject matters of which are
                                                                      related by common questions of law or fact and which could result in conflicting awards or obligations, then either Party may
                                                                      request prior to the appointment of the arbitrators for such multiple or subsequent Disputes that all such proceedings be
                                                                      consolidated into a single arbitral proceeding. Such request shall be directed to the AAA, which shall consolidate appropriate
                                                                      proceedings into a single proceeding unless consolidation would result in undue delay for the arbitration of the Disputes.

 

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		23.12.4	Each Party shall ensure that all invoices and notices sent by or on behalf of such Party pursuant to
                                                                      this Agreement shall identify such notice as being in connection with “SPA 1”, which shall be the designation for this
                                                                      Agreement for all purposes.

 

		23.12.5	Each Party shall issue invoices and make payments in accordance with this Agreement separate from
                                                                      invoices and payments under SPA 2. If either Party receives payment from the other Party and such payment does not identify itself
                                                                      as being in respect of SPA 2 or this Agreement, then the Party receiving such payment shall have the right to apply such payment
                                                                      received to amounts owed to the receiving Party under SPA 2 or this Agreement, with first priority to overdue amounts (with priority
                                                                      within this group to be based on how many Days the amount has been overdue, starting with the longest number of days) and then to
                                                                      other amounts due but unpaid (with priority within this group to be based on how many Days remain until the applicable due date,
                                                                      starting with the shortest number of Days).

 

		23.12.6	Each Party shall maintain separate financial and other records in connection with SPA 2 and this
                                                                      Agreement in a manner that enables the Parties to identify whether costs, expenses, and other auditable amounts and information are
                                                                      in respect of SPA 2 or this Agreement and to comply with all audit obligations under SPA 2 and this Agreement.

 

		23.12.7	Without limiting the foregoing, the Parties agree to conduct their businesses in a manner that
                                                                      effectuates the foregoing terms of this Section ‎23.12, and that any course of dealing that is inconsistent with the
                                                                      foregoing terms of this Section 23.12 shall not change the Parties’ respective rights and obligations under this Section ‎23.12.

 

		24.	Notices

 

		24.1	Form of Notice

 

		24.1.1	Except where otherwise specifically provided in this Agreement, all notices, requests, consents, proposals,
approvals and statements shall be in writing and in English, and if properly addressed to the recipient in the manner required by Sections
24.1.2 and 24.2, shall be deemed to have been properly given or delivered: (i) on the date of actual delivery when personally delivered
to the intended recipient or when delivered to the intended recipient by a reputable courier delivery service; or (ii) on the date specified
in Section 24.2.2, if by Electronic Transmission, provided that if such Electronic Transmission is directed after 5:00 p.m. (local time
of the recipient) or on a day that is not a
Business Day, then on the next succeeding Business Day after the date specified in Section 24.2.2.

 

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		24.1.2	A non-electronic document is deemed to be properly addressed, in each case, if to Buyer or Seller, to
the address of such Person as set forth in this Section 24.1.2, or, in each case, to such other address or addresses as the addressee
may have specified by written notice given to the other Party in the manner contemplated by Section 24.1.1.

 

If to Buyer, to:

Shell NA LNG LLC

1000 Main Street, Level 12

Houston, TX 77002

Attention: President of SNALNG

Fax:
XXXXXXXXXXXXXX

 

With a copy, which shall not constitute notice, to:

Shell NA LNG LLC

1000 Main Street, Level 12

Houston, TX 77002

Attention: General Counsel

Fax: XXXXXXXXXXXXXX

 

If to Seller, to:

Driftwood LNG LLC

c/o Tellurian Inc.

1201 Louisiana Street, Suite 3100

Houston, TX 77002

United States of America

Attention: General Counsel

E-mail: XXXXXXXXXXXXXX

 

		24.2	Electronic Transmission

 

		24.2.1	Without limiting the manner by which notice otherwise may be given effectively to Parties pursuant to
Section 24.1, any notice under any provision of this Agreement shall be effective if given by a form of Electronic Transmission.

 

		24.2.2	Notice given pursuant to Section 24.2.1 will be deemed delivered on the date on which it is directed to
the fax number or electronic mail address, as applicable, set forth in Section 24.1.2, or to such other fax number or electronic
mail address as the addressee previously may have specified by written notice given to the other Party in the manner contemplated by Section
24.1.1.

 

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		24.2.3	Buyer and Seller hereby consent to receive notices by Electronic Transmission at the fax number and/or
electronic mail address (as applicable) set forth in Section 24.1.2.

 

		25.	Trade Law Compliance and Business Practices

 

		25.1	Trade Law Compliance

 

		25.1.1	Each Party agrees to comply with the Export Authorizations, including incorporating into any resale contract
for LNG sold under this Agreement the necessary conditions to ensure compliance with the Export Authorizations. Buyer shall promptly provide
to Seller all information in order for Seller, its direct or indirect LNG supplier or any other Person acting as agent on behalf of Seller
or such LNG supplier under an Export Authorization, to comply with the Export Authorizations, including information that identifies for
each LNG cargo delivered under this Agreement the country (or countries) into which the LNG or Gas was actually delivered. Buyer commits
to include in any resale contract for LNG sold under this Agreement the necessary conditions to ensure Seller is made aware of all such
countries into which the LNG or Gas was actually delivered. If any Export Authorization requires conditions to be included in this Agreement
beyond those that are already included herein, then, within fifteen (15) days following the issuance of the Export Authorization imposing
such condition, the Parties shall discuss the appropriate changes to be made to this Agreement to comply with such Export Authorization
and shall amend this Agreement accordingly to comply with such Export Authorization. Buyer acknowledges and agrees that it will resell
or transfer LNG purchased hereunder for delivery only to the countries identified in an applicable Export Authorization and/or to purchasers
that have agreed in writing to limit their direct or indirect resale or transfer of such LNG to such countries. Buyer represents and warrants
that the final delivery of LNG received pursuant to the terms of this Agreement are permitted and lawful under United States of America
laws and policies, including Export Control and Sanctions Laws and the rules, regulations, orders, policies, and other determinations
of the United States Department of Energy, the Office of Foreign Assets Control of the United States Department of the Treasury and the
Federal Energy Regulatory Commission, and Buyer shall not take any action which would cause Seller or Driftwood to be in violation of
United States of America laws and policies or any Export Authorization to be withdrawn, revoked, suspended or not renewed.

 

		25.1.2	Without limiting the foregoing, the following provisions are included in this Agreement in
                                                                       accordance with the requirements of the Export Authorizations, and Buyer shall include, and require any direct or indirect buyer of
                                                                       LNG sold hereunder for whom Seller or Driftwood acts as agent in connection with one or more Export Authorizations to include, the
                                                                       following provisions in any agreement or other contract for the sale or transfer of LNG exported pursuant to any Export
                                                                       Authorization: 

 

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		(a)	Buyer acknowledges and agrees that it will resell or transfer LNG purchased hereunder for delivery only
to countries identified in Ordering Paragraph B of DOE/FE Order No. 3968, issued February 28, 2017, in FE Docket No. 16-144-LNG, and/or
to purchasers that have agreed in writing to limit their direct or indirect resale or transfer of such LNG to such countries. Buyer further
commits to cause a report to be provided to Driftwood LNG LLC that identifies the country (or countries) into which the LNG or natural
gas was actually delivered and/or received for end use, and to include in any resale contract for such LNG the necessary conditions to
ensure that Driftwood LNG LLC is made aware of all such countries.

 

		(b)	Buyer acknowledges and agrees that it will resell or transfer LNG, purchased hereunder for delivery only
to countries identified in Ordering Paragraph F of DOE/FE Order No. 4373, issued May 2, 2019, in FE Docket No. 16-144-LNG, and/or to purchasers
that have agreed in writing to limit their direct or indirect resale or transfer of such natural gas or LNG to such countries. Buyer further
commits to cause a report to be provided to Driftwood LNG LLC that identifies the country (or countries) into which the LNG was actually
delivered, and to include in any resale contract for such LNG the necessary conditions to ensure that Driftwood LNG LLC is made aware
of all such actual destination countries.

 

		25.2	Prohibited Practices

 

		25.2.1	Each Party represents, warrants, and covenants that in connection with this Agreement and the business
resulting therefrom:

 

		(a)	it is aware of and will comply with Anti-Corruption Laws;

 

		(b)	whether directly or indirectly, it has not made, offered, authorized, or accepted and will not make, offer,
authorize, or accept any payment, gift, promise, or other advantage, to or for the use or benefit of any government official or any other
person where that payment, gift, promise, or other advantage would comprise a facilitation payment or otherwise violate the Anti-Corruption
Laws;

 

		(c)	it has maintained and will maintain adequate written policies and procedures to comply with Anti-Corruption
Laws;

 

		(d)	it has maintained and will maintain adequate internal controls, including using reasonable efforts to
ensure that all transactions are accurately recorded and reported in its books and records to reflect truly the activities to which they
pertain, such as the purpose of each transaction, with whom it was entered
into, for whom it was undertaken, or what was exchanged;

 

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		(e)	it will, to its knowledge, retain such books and records for the period required by Applicable Law or
a Party’s own retention policies, whichever is longer;

 

		(f)	in the event a Party becomes aware of an uncured, material breach by such Party of an obligation in this
Section 25.2, it will promptly notify the other Party, subject to the preservation of legal privilege;

 

		(g)	it will provide reasonable information (which unless publicly available will include documentary evidence)
in support of the other Party’s ongoing “Know Your Customer” process requirements, about its ownership, officers, and
corporate structure (including any changes thereto);

 

		(h)	subject to Section 21.4.2 and any financing requirements, only a Party (and not its Affiliates or a Third
Party) shall make payments to the other Party, except with that other Party’s prior written consent; and

 

		(i)	it will comply with the Anti-Corruption Laws and Export Control and Sanctions Laws applicable to such
Party and it will not take any action, or omit to take any action, which would cause the other Party to be in violation of any Anti-Corruption
Law or Export Control and Sanctions Laws applicable to such other Party.

 

		25.2.2	During the term of this Agreement and for seven (7) years thereafter and on notice, each Party shall have
a right, and the other Party shall take reasonable steps to enable this right, to audit in accordance with Section 25.3 the other Party’s
relevant books and records with respect to compliance with the provisions of Section 25.2.1.

 

		25.2.3	The obligations in this Section 25.2 shall survive the termination or expiry of this Agreement.

 

		25.3	Records; Audit

 

Each Party shall keep all records
necessary to confirm compliance with Sections 25.1 and 25.2.1 for a period of seven (7) years following the year for which such
records apply. If a Party asserts that the other Party is not in compliance with Sections 25.1 or 25.2.1, the asserting Party shall
send a notice to the other Party indicating the type of noncompliance asserted. After giving such notice, the asserting Party may
cause an independent auditor to audit the records of the other Party in respect of the asserted noncompliance, subject to the
preservation of legal privilege. The costs of any independent auditor under this Section 25.3 shall be paid (i) by the other Party,
if the other Party is determined not to be in compliance with Sections 25.1 or 25.2.1, as applicable, and (ii) by the asserting
Party, if the other Party is determined to be in compliance with Sections 25.1 or 25.2.1, as applicable.

 

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		25.4	Representations and Warranties

 

Each Party represents and warrants to
the other Party, as of the Effective Date and as of the date of any assignment or novation of this Agreement by such Party, that in the
performance of this Agreement and the activities contemplated herein, neither such Party, nor any of its officers, directors, employees,
agents or other representatives have taken any action, or omitted to take any action, which would (a) violate any applicable Anti-Corruption
Law, any applicable Export Control and Sanctions Laws or any other Applicable Law applicable to such Party, or (b) cause the other Party
to be in violation of any Anti-Corruption Law or Export Control and Sanctions Law applicable to the other Party. Without limiting the
foregoing, each Party represents and warrants to the other Party, as of the Effective Date, that neither such Party nor any of its directors,
managers, officers, employees, agents, contractors or Affiliates has paid any fees, commissions, or rebates to any employee, officer,
or agent of the other Party or any of its Affiliates or has provided or caused to be provided to any of them any gifts or entertainment
of significant cost or value in connection with this Agreement in order to influence or induce any actions or inactions in connection
with the commercial activities of the other Party hereunder.

 

		25.5	Indemnity

 

Each Party shall indemnify and hold the
other Party harmless from any Losses arising out of the indemnifying Party’s breach of any or all of Section 25.1, 25.2.1 or 25.3
or of the representations and warranties in Section 25.4.

 

		25.6	Personal Data

 

The Parties may provide each other with
information related to an identified or identifiable individual, the processing and transfer of which will be done in accordance with
applicable data protection law.

 

[Signature page follows.]

 

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IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the date first above written.

 

	SELLER:	 	BUYER:
	 	 	 	 	 
	DRIFTWOOD LNG LLC	 	SHELL NA LNG LLC
	 	 	 	 	 
	/s/ Octávio Simões	 	/s/ Paul
De Moudt
	Name:	Octávio Simões	 	Name:	Paul
De Moudt
	Title:	Chief Executive Officer	 	Title:	General
Manager

President

 

[Signature Page to LNG Sale and Purchase Agreement 1]

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