Document:

Exhibit 4.1

   

  

  
  
     

  

  
   

  REGISTRATION RIGHTS AGREEMENT

   

  BY AND AMONG

   

  EXCELERATE ENERGY, Inc.

   

  AND

   

  certain stockholders

   

  DATED AS OF         , 2022

   

  

  
  
     

  

  
   

  

   

  
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  This REGISTRATION RIGHTS AGREEMENT (as it may be amended from time to time in accordance with the terms hereof, the “Agreement”), dated as of [●], 2022, is made
    by and among:

   

  i.         Excelerate Energy, Inc., a Delaware corporation (together with any predecessor entities, the “Company”);

   

  ii.        Excelerate Energy Holdings, LLC, a Delaware limited liability company (“Holdings”);

   

  iii.       Maya Maritime LLC, a Marshall Islands limited liability company (“Maya Maritime” and, together with Holdings and their respective Permitted
    Transferees, the “Holders”).

   

  RECITALS

   

  WHEREAS, the Company, Excelerate Energy Limited Partnership, a Delaware limited partnership (the “Partnership”), and the Holders have effected, or will effect
    in connection with the closing of the initial public offering (the “IPO”) of the Company’s Class A common stock, par value $0.001 per share (the “Class A Common Stock”), a series of reorganization transactions (collectively, the “Reorganization

      Transactions”);

   

  WHEREAS, after giving effect to the Reorganization Transactions and upon completion of the IPO, (a) Holdings will Beneficially Own shares of the Company’s Class B
    common stock, par value $0.001 per share (the “Class B Common Stock” and, together with the Class A Common Stock, the “Common Stock”), and Class B interests in the Partnership (“Class B Interests”), which Class B Interests, subject
    to certain restrictions, are exchangeable from time to time at the option of the Beneficial Owner thereof for shares of Class A Common Stock pursuant to the terms of the Amended and Restated Limited Partnership Agreement of the Partnership (as may be
    amended from time to time, the “Partnership Agreement”), and (b) Maya Maritime will directly hold shares of Class A Common Stock; and

   

  WHEREAS, the Holders have requested, and the Company has agreed to provide, registration rights with respect to the Registrable Securities (as defined below) as set
    forth in this agreement.

   

  NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other good and valuable
    consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

   

  Article I 

    

    EFFECTIVENESS

   

  1.1       Effectiveness. This Agreement shall become effective upon the Closing.

   

  

   

  
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  Article II 

    

    DEFINITIONS

   

  2.1       Definitions. As used in this Agreement, the following terms shall have the following meanings:

   

  “Adverse Disclosure” means public disclosure of material non-public information that, in the good faith judgment of the Board of Directors: (i) would be
    required to be made in any Registration Statement filed with the SEC by the Company so that such Registration Statement, from and after its effective date, does not 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 not misleading when the Company has a bona fide business purpose for preserving such information as confidential; (ii) would reasonably be expected to adversely affect or
    interfere with any material financing or other material transaction under consideration by the Company; or (iii) would not be required to be made at such time but for the filing, effectiveness or continued use of such Registration Statement when the
    Company has a bona fide business purpose for preserving such information as confidential.

   

  “Affiliate” means, with respect to any specified Person, (a) any Person that directly or indirectly through one or more intermediaries controls, or is
    controlled by, or is under common control with, such specified Person or (b) a Permitted Transferee of such Person. For purposes hereof, (x) the Company, the Partnership and their respective subsidiaries shall not be deemed to be Affiliates of the
    Holders or any of their respective Affiliates, and (y) neither the George Kaiser Family Foundation, an Oklahoma non-profit corporation, nor Maya Maritime, shall be considered to be an Affiliate of Holdings. As used in this definition, the term
    “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.

   

  “Agreement” shall have the meaning set forth in the preamble.

   

  “Beneficial Owner” means, with respect to any security, any Person who directly or indirectly, through any contract, arrangement, understanding, relationship or
    otherwise, has or shares (a) voting power, which includes the power to vote, or to direct the voting of, such security or (b) investment power, which includes the power to dispose, or to direct the disposition of, such security. The terms “Beneficially
    Own” and “Beneficial Ownership” shall have correlative meanings.

   

  “Board of Directors” means the board of directors of the Company.

   

  “Business Day” means any calendar day other than a Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required to
    close.

   

  “Class A Common Stock” shall have the meaning set forth in the recitals.

   

  “Class B Common Stock” shall have the meaning set forth in the recitals.

   

  

   

  
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  “Class B Interests” shall have the meaning set forth in the recitals.

   

  “Closing” means the closing of the IPO.

   

  “Common Stock” shall have the meaning set forth in the recitals.

   

  “Company” shall have the meaning set forth in the preamble.

   

  “Demand Notice” shall have the meaning set forth in Section ‎3.1(c).

   

  “Demand Registration” shall have the meaning set forth in Section ‎3.1(a)(i).

   

  “Demand Registration Request” shall have the meaning set forth in Section ‎3.1(a)(i).

   

  “Exchange” means the exchange of Class B Interests, together with an equal number of shares of Class B Common Stock, for shares of Class A Common Stock or cash
    consideration, as applicable, pursuant to the terms of the Partnership Agreement.

   

  “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto, and the rules and regulations promulgated thereunder.

   

  “FINRA” means the Financial Industry Regulatory Authority.

   

  “Holders” shall have the meaning set forth in the preamble.

   

  “Holdings” shall have the meaning set forth in the preamble.

   

  “IPO” shall have the meaning set forth in the recitals.

   

  “Issuer Free Writing Prospectus” means an issuer free writing prospectus, as defined in Rule 433 under the Securities Act, relating to an offer of the
    Registrable Securities.

   

  “Loss” shall have the meaning set forth in Section ‎3.9(a).

   

  “Participation Conditions” shall have the meaning set forth Section ‎3.2(b).

   

  “Partnership” shall have the meaning set forth in the recitals.

   

  “Partnership Agreement” shall have the meaning set forth in the recitals.

   

  “Permitted Transferee” means, (a) with respect to Holdings, any Person to whom Holdings has validly transferred Class B Interests in accordance with, and not in
    contravention of, the Partnership Agreement, and (b) with respect to Maya Maritime, (i) any Affiliate or successor entity of Maya Maritime or (ii) any Person established for the benefit of, and Beneficially Owned solely by, Maya Maritime or the direct
    or indirect owner(s) of Maya Maritime.

   

  

   

  
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  “Person” means and includes an individual, a corporation, a partnership, a limited liability company, a trust, an unincorporated organization, a government or
    any department or agency thereof, or any entity similar to any of the foregoing.

   

  “Piggyback Notice” shall have the meaning set forth in Section ‎3.3(a).

   

  “Piggyback Registration” shall have the meaning set forth in Section ‎3.3(a).

   

  “Potential Takedown Participant” shall have the meaning set forth in Section ‎3.2(b).

   

  “Pro Rata Portion” means, with respect to each Holder requesting that its shares be registered or sold, a number of such shares equal to the aggregate number of
    Registrable Securities requested to be registered (excluding any shares to be registered or sold for the account of the Company) multiplied by a fraction, the numerator of which is the aggregate number of Registrable Securities then held by such
    Holder, and the denominator of which is the aggregate number of Registrable Securities then held by all Holders requesting that their Registrable Securities be registered or sold.

   

  “Prospectus” means (i) the prospectus included in any Registration Statement, all amendments and supplements to such prospectus, including post-effective
    amendments and supplements, and all other material incorporated by reference in such prospectus, and (ii) any Issuer Free Writing Prospectus.

   

  “Public Offering” means the offer and sale of Registrable Securities for cash pursuant to an effective Registration Statement under the Securities Act (other
    than a Registration Statement on Form S-4 or Form S-8 or any successor form).

   

  “Registrable Securities” shall mean any Class A Common Stock currently owned or hereafter acquired by a party hereto, including any Class A Common Stock that
    may be issued in connection with an Exchange. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (w) a Registration Statement with respect to the sale of such securities shall have become
    effective under the Securities Act and such securities shall have been disposed of in accordance with such Registration Statement, (x) such securities shall have been transferred pursuant to Rule 144, (y) such Holder is able to immediately sell such
    securities (including all shares of Class A Common Stock issuable upon Exchange, subject to the limitations on Exchange set forth in the Partnership Agreement) under Rule 144 without any volume or manner of sale restrictions thereunder, as determined
    in the reasonable opinion of the Company (it being understood that a written opinion of the Company’s outside legal counsel to the effect that such securities may be so offered and sold, and that any restrictive legends on the securities may be
    removed, shall be conclusive evidence this clause has been satisfied) or (z) such securities shall have ceased to be outstanding.

   

  “Registration” means registration under the Securities Act of the offer and sale of shares of Class A Common Stock under a Registration Statement. The terms
    “register,” “registered” and “registering” shall have correlative meanings.

   

  “Registration Expenses” shall have the meaning set forth in Section ‎3.8.

   

  

   

  
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  “Registration Statement” means any registration statement of the Company filed with, or to be filed with, the SEC under the Securities Act, including the
    related Prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement other than a registration statement
    (and related Prospectus) filed on Form S-4 or Form S-8 or any successor forms thereto.

   

  “Reorganization Transactions” shall have the meaning set forth in the recitals.

   

  “Representatives” means, with respect to any Person, any of such Person’s officers, directors, employees, agents, attorneys, accountants, actuaries,
    consultants, equity financing partners, advisors or other Person associated with, or acting on behalf of, such Person.

   

  “Rule 144” means Rule 144 under the Securities Act (or any successor rule).

   

  “SEC” means the U.S. Securities and Exchange Commission.

   

  “Securities Act” means the Securities Act of 1933, as amended, and any successor thereto, and the rules or regulations promulgated thereunder.

   

  “Selling Stockholder Information” shall have the meaning set forth in Section ‎3.9(a).

   

  “Shelf Registration” means any Registration pursuant to Rule 415 under the Securities Act.

   

  “Shelf Registration Request” shall have the meaning set forth in Section ‎3.1(a)(ii).

   

  “Shelf Registration Statement” means a Registration Statement filed with the SEC pursuant to Rule 415 under the Securities Act.

   

  “Shelf Takedown Notice” shall have the meaning set forth in Section ‎3.2(b).

   

  “Shelf Takedown Request” shall have the meaning set forth in Section ‎3.2.

   

  “Stockholder’s Agreement” means the Stockholder’s Agreement, dated the date hereof, by and among (i) the Company and (ii) Holdings.

   

  “Suspension” shall have the meaning set forth in Section ‎3.1(f).

   

  “Trading Day” means a day on which the principal U.S. securities exchange on which the Class A Common Stock is listed or admitted to trading is open for the
    transaction of business (unless such trading shall have been suspended for the entire day) or, if the Class A Common Stock is not listed or admitted to trading on such an exchange, Trading Day shall mean a Business Day.

   

  “Transfer” means, with respect to any Registrable Security, any interest therein, or any other securities or equity interests relating thereto, a direct or
    indirect transfer, sale, exchange, assignment, pledge, hypothecation or other encumbrance or other disposition thereof, including the grant of an option or other right, whether directly or indirectly, whether voluntarily, involuntarily, by operation of
    law, pursuant to judicial process or otherwise. “Transferred” shall have a correlative meaning.

   

  

   

  
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  “Underwritten Offering” means an underwritten offering, including any bought deal or block sale to a financial institution conducted as an Underwritten
    Offering.

   

  “Underwritten Shelf Takedown” means an Underwritten Offering pursuant to an effective Shelf Registration Statement.

   

  “WKSI” means any Securities Act registrant that is a well-known seasoned issuer as defined in Rule 405 under the Securities Act at the most recent eligibility
    determination date specified in paragraph (2) of that definition.

   

  2.2       Other Interpretive Provisions.

   

  (i)       The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

   

  (ii)      The words “hereof,” “herein,” “hereunder” and similar words refer to this Agreement as a whole and not to any
    particular provision of this Agreement; and any subsection and Section references are to this Agreement unless otherwise specified.

   

  (iii)     The term “including” is not limiting and means “including without limitation.”

   

  (iv)     The captions and headings of this Agreement are for convenience of reference only and shall not affect the
    interpretation of this Agreement.

   

  (v)      Whenever the context requires, any pronouns used herein shall include the corresponding masculine, feminine or
    neuter forms.

   

  Article III 

    

    REGISTRATION RIGHTS

   

  The Company shall perform and comply, and cause each of its subsidiaries to perform and comply, with such of the following provisions as are applicable to them. Each
    Holder shall perform and comply with such of the following provisions as are applicable to such Holder.

   

  		3.1	Demand Registration.

   

  (a)           Request for Demand Registration.

   

  (i)       Following the occurrence of the IPO, subject to Section ‎3.4,
    any Holder shall have the right, for itself or together with one or more other Holders, to make a written request from time to time (a “Demand Registration Request”) to the Company for Registration of all or part of the Registrable Securities
    held by such Holder (a “Demand Registration”).

   

  

   

  
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  (ii)       Each Demand Registration Request shall specify (x) the aggregate amount of Registrable Securities proposed to be
    registered, (y) the intended method or methods of disposition thereof and (z) whether the Demand Registration Request is for an Underwritten Offering or a Shelf Registration (a “Shelf Registration Request”).

   

  (iii)      If a Demand Registration Request is for a Shelf Registration, and the Company is eligible to file a Registration
    Statement on Form S-3, the Company shall promptly file with the SEC a Shelf Registration Statement on Form S-3 pursuant to Rule 415 under the Securities Act relating to the offer and sale of Registrable Securities by the initiating Holders from time to
    time in accordance with the methods of distribution elected by such Holders, subject to all applicable provisions of this Agreement.

   

  (iv)      If the Demand Registration Request is for a Shelf Registration and the Company is not eligible to file a
    Registration Statement on Form S-3, the Company shall promptly file with the SEC a Shelf Registration Statement on Form S-1 or any other form that the Company is then permitted to use pursuant to Rule 415 under the Securities Act (or such other
    Registration Statement as the Board of Directors may determine to be appropriate) relating to the offer and sale of Registrable Securities by the initiating Holders from time to time in accordance with the methods of distribution elected by such
    Holders.

   

  (v)       If on the date of the Shelf Registration Request the Company is a WKSI, then any Shelf Registration Statement may
    (if the Board of Directors determines it to be appropriate to do so) include an unspecified amount of Registrable Securities to be sold by unspecified Holders; if on the date of the Shelf Registration Request the Company is not a WKSI, then the Shelf
    Registration Request shall specify the aggregate amount of Registrable Securities to be registered.

   

  (b)           Limitation on Registrations. The Company shall not be obligated to take any action to effect any Demand
    Registration if: (i) a Demand Registration or Piggyback Registration was declared effective or an Underwritten Offering was consummated by either the Company or the Holders within the preceding 90 days; (ii) the Company has filed another Registration
    Statement (other than on Form S-8 or Form S-4 or any successor thereto) that has not yet become effective; (iii) the value of the Registrable Securities proposed to be sold by the initiating Holders is not reasonably expected (in the good faith
    judgment of the Board of Directors) to yield net proceeds of at least $25 million, in the case of a Shelf Registration on Form S-3, or in the case of an Underwritten Offering, of at least $50 million; provided that, for the purposes of clauses
    (i) and (ii), any Registration Statement withdrawn pursuant to Section ‎3.1(d) shall not affect the Company’s obligation to effect any Demand Registration.

   

  (c)           Demand Notice. Promptly upon receipt of a Demand Registration Request pursuant to Section ‎‎3.1(a) (but in no event more than 10 Business Days thereafter), the Company shall deliver a written notice of the Demand Registration Request to all other Holders offering each such Holder the opportunity
    to include in the Demand Registration that number of Registrable Securities as the Holder may request in writing (the “Demand Notice”). Subject to Sections ‎3.1(g) and ‎(h), the Company shall include in the Demand Registration all such Registrable Securities with respect to which the Company has received written requests for inclusion therein within five Business Days after the date that
    the Demand Notice was delivered.

   

  

   

  
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  (d)           Demand Withdrawal. Each Holder that has requested the inclusion of Registrable Securities in a Registration
    (other than a Registration in connection with a Public Offering) pursuant to Sections ‎3.1(a) or (c) may withdraw all or any portion of its Registrable Securities from that registration at
    any time prior to the effectiveness of the applicable Registration Statement by delivering written notice to the Company. Upon receipt of a notice or notices withdrawing (i) all of the Registrable Securities included in that Registration Statement by
    the initiating Holder or (ii) a number of such Registrable Securities so as to cause the expected net proceeds to fall below the applicable threshold set forth in Section ‎3.1(b), the Company shall
    cease all efforts to secure effectiveness of the applicable Registration Statement.

   

  (e)           Effectiveness.

   

  (i)       The Company shall use commercially reasonable efforts to cause any Registration Statement filed by it pursuant to
    this Agreement to become effective as promptly as practicable, subject to all applicable provisions of this Agreement.

   

  (ii)      The Company shall use commercially reasonable efforts to keep any Shelf Registration Statement filed on Form S-3
    continuously effective under the Securities Act to permit the Prospectus forming a part of it to be usable by Holders until the earlier of: (A) the date as of which all Registrable Securities have been sold pursuant to that Shelf Registration Statement
    or another Registration Statement filed under the Securities Act (but in no event prior to the applicable period referred to in Section 4(a)(3) of the Securities Act and Rule 174 thereunder); (B) the date as of which no Holder whose Registrable
    Securities are registered on such Form S-3 holds Registrable Securities; (C) any date reasonably determined by the Board of Directors to be appropriate, excluding any date that is fewer than 180 days after the effectiveness of the Registration
    Statement; and (D) the third anniversary of the effectiveness of the Registration Statement.

   

  (iii)     If the Registration Statement filed is a Shelf Registration Statement on any form other than Form S-3 and such
    Registration Statement was not filed in connection with an Underwritten Offering, the Company shall use commercially reasonable efforts to keep the Registration Statement continuously effective under the Securities Act until such time as the Company is
    eligible to file a Shelf Registration Statement on Form S-3 covering the Registrable Securities thereon or such shorter period during which all Registrable Securities included in the Registration Statement have actually been sold.

    

  

   

  
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  (iv)     If the Registration Statement filed is a Shelf Registration Statement on any form other than Form S-3 and such
    Registration Statement was filed in connection with an Underwritten Offering, the Company shall use commercially reasonable efforts to keep the Registration Statement continuously effective under the Securities Act, for a period of at least 180 days
    after the effective date thereof or such other period as the underwriters for any Underwritten Offering may determine to be appropriate, or such shorter period during which all Registrable Securities included in the Registration Statement have actually
    been sold; provided that such period shall be extended for a period of time equal to the period the Holders of Registrable Securities may be required to refrain from selling any securities included in the Registration Statement at either the
    request of the Company or an underwriter of the Company pursuant to the provisions of this Agreement.

   

  (f)           Delay in Filing; Suspension of Registration. If the filing, initial effectiveness or continued use of a
    Registration Statement at any time would require the Company to make an Adverse Disclosure, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, the
    Registration Statement (a “Suspension”); provided, however, that the Company shall use its commercially reasonable efforts to avoid exercising a Suspension (i) for a period exceeding 60 days on any one occasion or (ii) for an
    aggregate of more than 120 days in any 12-month period. In the case of a Suspension, the Holders agree to suspend use of the applicable Prospectus in connection with any sale or purchase, or offer to sell or purchase, Registrable Securities, upon
    receipt of the notice referred to above. The Company shall immediately notify the Holders in writing upon the termination of any Suspension. The Company shall, if necessary, amend or supplement the Prospectus so it does not contain any untrue statement
    or omission and furnish to the Holders such numbers of copies of the Prospectus as so amended or supplemented as the Holders may reasonably request. The Company shall, if necessary, supplement or amend the Registration Statement, if required by the
    registration form used by the Company for the Registration Statement or by the instructions applicable to such registration form or by the Securities Act or the rules or regulations promulgated thereunder or as may reasonably be requested by the
    Holders of a majority of Registrable Securities that are included in such Registration Statement.

   

  (g)          Priority of Securities Registered Pursuant to Shelf Registrations. If the Board of Directors concludes in good
    faith that the number of securities requested to be included in a Shelf Registration exceeds the number that can be sold without being likely to have an adverse effect on the price, timing or distribution of the securities offered or the market for the
    securities offered, then the securities to be included in such Registration shall be, (x) first, allocated to each Holder that has requested to participate in such Registration an amount equal to the lesser of (i) the number of such Registrable
    Securities requested to be registered or sold by such Holder and (ii) a number of such shares equal to such Holder’s Pro Rata Portion, and (y) second, and only if all the securities referred to in clause (x) have been included, the number of other
    securities that, in the opinion of such managing underwriter or underwriters can be sold without having such adverse effect. If a cutback pursuant to this Section 3.1(g) or Section ‎3.1(h)
    would cause an applicable dollar threshold set forth in Section ‎3.1(b)(iii) not to be met with respect to the Demand Registration, Section ‎3.1(b)(iii)
    shall not apply to that Demand Registration.

   

  

   

  
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  (h)         Priority of Securities in Underwritten Offerings. If the managing underwriter or underwriters of any proposed
    Underwritten Offering advise the Company in writing that, in its or their opinion, the number of securities requested to be included in the proposed offering exceeds the number that can be sold in that offering without being likely to have an adverse
    effect on the price, timing or distribution of the securities offered or the market for the securities offered, the number of Registrable Securities to be included shall be, (x) first, allocated to each Holder that has requested to participate in such
    Underwritten Offering an amount equal to the lesser of (i) the number of such Registrable Securities requested to be registered or sold by such Holder, and (ii) a number of such shares equal to such Holder’s Pro Rata Portion, and (y) second, and only
    if all securities referred to in clause (x) have been included, the number of other securities that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect.

   

  (i)          Participation in Underwritten Offerings. No Person may participate in any Underwritten Offering hereunder unless
    that Person agrees to sell the Registrable Securities it desires to have covered by the applicable Registration Statement on the basis provided in any underwriting arrangements in customary form and completes and executes all questionnaires, powers of
    attorney, indemnities, underwriting agreements, and other documents required under the terms of the underwriting arrangements; provided that no Person shall be required to make representations and warranties other than those related to title
    and ownership of their shares and as to the accuracy and completeness of statements made in a Registration Statement, prospectus, offering circular, or other document in reliance upon and conformity with written information furnished to the Company or
    the managing underwriter by such Person.

   

  (j)         Resale Rights. In the event that a Holder that is a partnership, limited liability company, trust or similar
    entity requests to participate in a Registration pursuant to this Section ‎3.1 in connection with a distribution of Registrable Securities to its partners, members or beneficiaries, the Registration
    shall provide for resale by such partners, members or beneficiaries, if approved by the Board of Directors.

   

  		3.2	Shelf Takedowns.

   

  (a)       At any time the Company has an effective Shelf Registration Statement with respect to Registrable Securities, a Holder, by
    notice to the Company specifying the intended method or methods of disposition thereof, may make a written request (a “Shelf Takedown Request”) that the Company effect an Underwritten Shelf Takedown of all or a portion of such Holder’s
    Registrable Securities that are registered on such Shelf Registration Statement, and as soon as practicable thereafter, the Company shall amend or supplement the Shelf Registration Statement as necessary for such purpose, subject to all applicable
    provisions of this Agreement.

   

  

   

  
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  (b)       Promptly upon receipt of a Shelf Takedown Request (but in no event more than two Business Days thereafter (or such shorter
    period as may be reasonably requested in connection with an underwritten “block trade”)) for any Underwritten Shelf Takedown, the Company shall deliver a notice (a “Shelf Takedown Notice”) to each other Holder with Registrable Securities covered
    by the applicable Registration Statement, or to all other Holders if such Registration Statement is undesignated (each a “Potential Takedown Participant”). The Shelf Takedown Notice shall offer each such Potential Takedown Participant the
    opportunity to include in any Underwritten Shelf Takedown such number of Registrable Securities as each such Potential Takedown Participant may request in writing. The Company shall include in the Underwritten Shelf Takedown all such Registrable
    Securities with respect to which the Company has received written requests for inclusion therein within three Business Days (or such shorter period as may be reasonably requested in connection with an underwritten “block trade”) after the date that the
    Shelf Takedown Notice has been delivered. Any Potential Takedown Participant’s request to participate in an Underwritten Shelf Takedown shall be binding on the Potential Takedown Participant; provided that each such Potential Takedown
    Participant that elects to participate may condition its participation on the Underwritten Shelf Takedown being completed within 10 Business Days of its acceptance at a price per share (after giving effect to any underwriters’ discounts or commissions)
    to such Potential Takedown Participant of not less than ninety percent (90%) (or such lesser percentage specified by such Potential Takedown Participant) of the closing price for the shares on their principal trading market on the Business Day
    immediately prior to such Potential Takedown Participant’s election to participate (the “Participation Conditions”). Notwithstanding the delivery of any Shelf Takedown Notice, but subject to the Participation Conditions (to the extent
    applicable), all determinations as to whether to complete any Underwritten Shelf Takedown and as to the timing, manner, price and other terms of any Underwritten Shelf Takedown contemplated by this Section ‎3.2
    shall be determined by the initiating Holders.

   

  		3.3	Piggyback Registration.

   

  (a)       Participation. If the Company at any time proposes to file a Registration Statement under the Securities Act or to
    conduct a Public Offering with respect to any offering of its equity securities for its own account or for the account of any other Persons (other than (i) a Registration under Sections ‎3.1 or ‎3.2, (ii) a Registration on Form S-4 or Form S-8 or any successor form to such forms, (iii) a Registration of securities solely relating to an offering and sale to employees or directors of the
    Company or its subsidiaries pursuant to any employee stock plan, employee stock purchase plan, or other employee benefit plan arrangement, (iv) a Registration solely for the registration of securities issuable upon the conversion, exchange or exercise
    of any then-outstanding security of the Company or (v) a Registration relating to a dividend reinvestment plan), then as soon as practicable (but in no event less than 10 Business Days prior to the proposed date of filing of such Registration Statement
    or, in the case of a Public Offering under a Shelf Registration Statement, the anticipated pricing or trade date), the Company shall give written notice (a “Piggyback Notice”) of such proposed filing or Public Offering to all Holders, and such
    Piggyback Notice shall offer the Holders the opportunity to register under such Registration Statement, or to sell in such Public Offering, such number of Registrable Securities as each such Holder may request in writing (a “Piggyback Registration”).

    The Company shall not be required to provide a Piggyback Notice to Holders of any Registrable Securities that are already registered pursuant to an effective registration statement. Subject to Section ‎3.1(b),
    the Company shall include in such Registration Statement or in such Public Offering as applicable, all such Registrable Securities that are requested to be included therein within five Business Days after the receipt by such Holder of any such notice;
    provided, however, that if at any time after giving written notice of its intention to register or sell any securities and prior to the effective date of the Registration Statement filed in connection with such Registration, or the
    pricing or trade date of a Public Offering under a Shelf Registration Statement, the Company determines for any reason not to register or sell or to delay Registration or the sale of such securities, the Company shall give written notice of such
    determination to each Holder and, thereupon, (i) in the case of a determination not to register or sell, shall be relieved of its obligation to register or sell any Registrable Securities in connection with such Registration or Public Offering (but not
    from its obligation to pay the Registration Expenses in connection therewith), without prejudice, however, to the rights of any Holders entitled to request that such Registration or sale be effected as a Demand Registration under Section ‎3.1 or an Underwritten Shelf Takedown, as the case may be, and (ii) in the case of a determination to delay Registration or sale, in the absence of a request for a Demand Registration or an Underwritten
    Shelf Takedown, as the case may be, shall also be permitted to delay registering or selling any Registrable Securities. Any Holder shall have the right to withdraw all or part of its request for inclusion of its Registrable Securities in a Piggyback
    Registration by giving written notice to the Company of its request to withdraw prior to such Registration the securities being registered in such Piggyback Registration.

   

  

   

  
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  (b)       Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed offering of
    Registrable Securities included in a Piggyback Registration informs the Company and the participating Holders in writing that, in its or their opinion, the number of securities that such Holders and any other Persons intend to include in such offering
    exceeds the number that can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the securities to be included
    in such Registration shall be, (x) first, one hundred percent (100%) of the securities that the Company proposes to sell, (y) second, and only if all the securities referred to in clause (x) have been included, the number of Registrable Securities
    that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect, with such number to be allocated among the Holders that have requested to participate in such Registration based on an amount equal to
    the lesser of (i) the number of such Registrable Securities requested to be sold by such Holder, and (ii) a number of such shares equal to such Holder’s Pro Rata Portion, and (z) third, and only if all of the Registrable Securities referred to in
    clause (ii) have been included in such Registration, any other securities eligible for inclusion in such Registration.

   

  (c)       No Effect on Other Registrations. No Registration of Registrable Securities effected pursuant to a request under
    this Section ‎3.3 shall be deemed to have been effected pursuant to Section ‎3.1 or shall relieve the Company of its obligations under Section
      ‎3.1.

   

  3.4          Lock-Up Agreements. In connection with each Registration or sale of Registrable Securities pursuant to Sections

      ‎3.1 or ‎3.3 conducted as an Underwritten Offering, each Holder, to the extent required by the applicable managing underwriter, agrees hereby
    not to, and agrees to execute and deliver a lock-up agreement with the underwriter(s) of such Public Offering restricting such Holder’s right to, (a) Transfer, directly or indirectly, any equity securities of the Company held by such Holder, or (b)
    enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of such securities during the period commencing on the date of the final Prospectus relating to such Public Offering and ending on the date
    specified by the underwriters (such period not to exceed 90 days plus such additional period as may be requested by the Company or an underwriter due to regulatory restrictions on the publication or other distribution of research reports and analyst
    recommendations and opinions, if applicable), in each case, excluding transfers pursuant to any carve-outs in the applicable lock-up agreement. The terms of such lock-up agreements shall be negotiated among the Holders, the Company and the underwriters
    and shall include customary carve-outs from the restrictions on Transfer set forth therein.

   

  

   

  
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  		3.5	Registration Procedures.

   

  (a)            Requirements. In connection with the Company’s obligations under Sections ‎3.1
    and ‎3.3, the Company shall use its commercially reasonable efforts to effect such Registration and to permit the sale of such Registrable Securities in accordance with the intended method or
    methods of distribution thereof as expeditiously as reasonably practicable, and in connection therewith the Company shall use its commercially reasonable efforts to:

   

  (i)       as promptly as practicable, prepare the required Registration Statement, including all exhibits and financial
    statements required under the Securities Act to be filed therewith and Prospectus, and, before filing a Registration Statement or Prospectus or any amendments or supplements thereto, (x) furnish to the underwriters, if any, and to the Holders of the
    Registrable Securities covered by such Registration Statement, copies of all documents prepared to be filed, which documents shall be subject to the review of such underwriters and such Holders and their respective counsel, (y) make such changes in
    such documents concerning the Holders prior to the filing thereof as such Holders, or their counsel, may reasonably request and (z) except in the case of a Registration under Section ‎3.3, not
    file any Registration Statement or Prospectus or amendments or supplements thereto to which participating Holders, in such capacity, or the underwriters, if any, shall reasonably object;

   

  (ii)      prepare and file with the SEC such amendments and post-effective amendments to such Registration Statement and
    supplements to the Prospectus as may be (x) reasonably requested by any participating Holder with Registrable Securities covered by such Registration Statement, (y) reasonably requested by any participating Holder (to the extent such request relates to
    information relating to such Holder) or (z) necessary to keep such Registration Statement effective for the period of time required by this Agreement, and comply with provisions of the applicable securities laws with respect to the sale or other
    disposition of all securities covered by such Registration Statement during such period in accordance with the intended method or methods of disposition by the sellers thereof set forth in such Registration Statement;

   

  (iii)     notify the participating Holders and the managing underwriter or underwriters, if any, and (if requested) confirm
    such notice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company (a) when the applicable Registration Statement or any amendment thereto has been filed or becomes
    effective, and when the applicable Prospectus or any amendment or supplement thereto has been filed, (b) of any written comments by the SEC, or any request by the SEC or other federal or state governmental authority for amendments or supplements to
    such Registration Statement or such Prospectus, or for additional information (whether before or after the effective date of the Registration Statement) or any other correspondence with the SEC relating to, or which may affect, the Registration, (c) of
    the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any order by the SEC or any other regulatory authority preventing or suspending the use of any preliminary or final Prospectus or the initiation or
    threatening of any proceedings for such purposes, (d) if, at any time, the representations and warranties of the Company in any applicable underwriting agreement cease to be true and correct in all material respects and (e) of the receipt by the
    Company of any notification with respect to the suspension of the qualification of the Registrable Securities for offering or sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose;

   

  

   

  
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  (iv)       promptly notify each selling Holder and the managing underwriter or underwriters, if any, when the Company
    becomes aware of the happening of any event as a result of which the applicable Registration Statement or the Prospectus included in such Registration Statement (as then in effect) contains any untrue statement of a material fact or omits to state a
    material fact necessary to make the statements therein (in the case of such Prospectus or any preliminary Prospectus, in light of the circumstances under which they were made) not misleading, when any Issuer Free Writing Prospectus includes information
    that may conflict with the information contained in the Registration Statement, or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement or Prospectus in order to comply with the
    Securities Act and, as promptly as reasonably practicable thereafter, prepare and file with the SEC, and furnish without charge to the selling Holders and the managing underwriter or underwriters, if any, an amendment or supplement to such Registration
    Statement or Prospectus, which shall correct such misstatement or omission or effect such compliance;

   

  (v)       to the extent the Company is eligible under the relevant provisions of Rule 430B under the Securities Act, if the
    Company files any Shelf Registration Statement, the Company shall include in such Shelf Registration Statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed selling security holders in a generic
    manner by identifying the initial offering of the securities to the Holders) in order to ensure that the Holders may be added to such Shelf Registration Statement at a later time through the filing of a Prospectus supplement rather than a
    post-effective amendment;

   

  (vi)       prevent, or obtain the withdrawal of, any stop order or other order or notice preventing or suspending the use
    of any preliminary or final Prospectus;

   

  (vii)       promptly incorporate in a Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment
    such information as the managing underwriter or underwriters and the participating Holders agree should be included therein relating to the plan of distribution with respect to such Registrable Securities; and make all required filings of such
    Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such Prospectus supplement, Issuer Free Writing Prospectus or post-effective
    amendment;

   

  (viii)       furnish to each selling Holder and each underwriter, if any, without charge, as many conformed copies as such
    Holder or underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment or supplement thereto, including financial statements and schedules, all documents incorporated therein by reference and
    all exhibits (including those incorporated by reference);

   

  

   

  
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  (ix)       deliver to each selling Holder and each underwriter, if any, without charge, as many copies of the applicable
    Prospectus (including each preliminary Prospectus) and any amendment or supplement thereto and such other documents as such Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such Holder
    or underwriter (it being understood that the Company shall consent to the use of such Prospectus or any amendment or supplement thereto by each of the selling Holders and the underwriters, if any, in connection with the offering and sale of the
    Registrable Securities covered by such Prospectus or any amendment or supplement thereto);

   

  (x)       on or prior to the date on which the applicable Registration Statement becomes effective, use its commercially
    reasonable efforts to register or qualify, and cooperate with the selling Holders, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the Registration or qualification of such Registrable Securities for
    offer and sale under the securities or “Blue Sky” laws of each state and other jurisdiction as any such selling Holder or managing underwriter or underwriters, if any, or their respective counsel reasonably request in writing and do any and all other
    acts or things reasonably necessary or advisable to keep such Registration or qualification in effect for such period as required by Section ‎3.1, as applicable; provided that the
    Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then
    so subject;

   

  (xi)       cooperate with the selling Holders and the managing underwriter or underwriters, if any, to facilitate the
    timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such denominations and registered in such names as the managing
    underwriters may request prior to any sale of Registrable Securities to the underwriters;

   

  (xii)       cause the Registrable Securities covered by the applicable Registration Statement to be registered with or
    approved by such other U.S. governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such Registrable Securities;

   

  (xiii)       make such representations and warranties to the Holders being registered, and the underwriters or agents, if
    any, in form, substance and scope as are customarily made by issuers in public offerings similar to the offering then being undertaken;

   

  (xiv)       enter into such customary agreements (including underwriting and indemnification agreements) and take all such
    other actions as the participating Holders or the managing underwriter or underwriters, if any, reasonably request in order to expedite or facilitate the Registration and disposition of such Registrable Securities;

   

  

   

  
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  (xv)       in the case of an Underwritten Offering, obtain for delivery to the underwriter or underwriters, if any, an
    opinion or opinions from counsel for the Company dated the date of the closing under the underwriting agreement, in customary form, scope and substance, which opinions shall be reasonably satisfactory to such underwriters and their counsel;

   

  (xvi)       in the case of an Underwritten Offering, obtain for delivery to the Company and the managing underwriter or
    underwriters, with copies to the Holders included in such Registration or sale, a comfort letter from the Company’s independent certified public accountants or independent auditors (and, if necessary, any other independent certified public accountants
    or independent auditors of any subsidiary of the Company or any business acquired by the Company for which financial statements and financial data are, or are required to be, included in the Registration Statement) in customary form and covering such
    matters of the type customarily covered by comfort letters as the managing underwriter or underwriters reasonably request, dated the date of execution of the underwriting agreement and brought down to the closing under the underwriting agreement;

   

  (xvii)       cooperate with each seller of Registrable Securities and each underwriter, if any, participating in the
    disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA;

   

  (xviii)       comply with all applicable securities laws and, if a Registration Statement was filed, make available to its
    security holders, as soon as reasonably practicable, an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder;

   

  (xix)       provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by the
    applicable Registration Statement;

   

  (xx)       to cause all Registrable Securities covered by the applicable Registration Statement to be listed on each
    securities exchange on which any of the Company’s equity securities are then listed or quoted and on each inter-dealer quotation system on which any of the Company’s equity securities are then quoted;

   

  (xxi)       make available upon reasonable notice at reasonable times and for reasonable periods for inspection by any
    underwriter participating in any disposition to be effected pursuant to such Registration Statement and by any attorney, accountant or other agent retained by any such underwriter, all pertinent financial and other records and pertinent corporate
    documents and properties of the Company, and cause all of the Company’s officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves available to discuss the business of the
    Company and to supply all information reasonably requested by any such Person in connection with such Registration Statement;

   

  

   

  
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  (xxii)       in the case of an Underwritten Offering, cause the senior executive officers of the Company to participate in
    the customary “road show” presentations that may be reasonably requested by the managing underwriter or underwriters in any such offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and
    customary selling efforts related thereto;

   

  (xxiii)       take no direct or indirect action prohibited by Regulation M under the Exchange Act; and

   

  (xxiv)        take all such other commercially reasonable actions as are necessary or advisable in order to expedite or
    facilitate the disposition of such Registrable Securities in accordance with the terms of this Agreement.

   

  (b)          Company Information Requests. The Company may require each seller of Registrable Securities as to which any
    Registration or sale is being effected to furnish to the Company such information regarding the distribution of such securities and such other information relating to such Holder and its ownership of Registrable Securities as the Company may from time
    to time reasonably request in writing and the Company may exclude from such Registration or sale the Registrable Securities of any such Holder who unreasonably fails to furnish such information within a reasonable time after receiving such request.
    Each Holder agrees to furnish such information to the Company and to cooperate with the Company as reasonably necessary to enable the Company to comply with the provisions of this Agreement.

   

  (c)          Discontinuing Registration. Each Holder agrees that, upon receipt of any notice from the Company of the happening
    of any event of the kind described in Section ‎3.5(a)(iv), such Holder shall discontinue disposition of Registrable Securities pursuant to such Registration Statement until such Holder’s receipt of
    the copies of the supplemented or amended Prospectus contemplated by Section ‎3.5(a)(iv), or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, and
    has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus, or any amendments or supplements thereto, and if so directed by the Company, such Holder shall deliver to the Company (at the Company’s
    expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities current at the time of receipt of such notice. In the event the Company shall give any such notice, the
    period during which the applicable Registration Statement is required to be maintained effective shall be extended by the number of days during the period from and including the date of the giving of such notice to and including the date when each
    seller of Registrable Securities covered by such Registration Statement either receives the copies of the supplemented or amended Prospectus contemplated by Section ‎3.5(a)(iv) or is advised in
    writing by the Company that the use of the Prospectus may be resumed.

   

  

   

  
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  		3.6	Underwritten Offerings.

   

  (a)       Shelf and Demand Registrations. If requested by the underwriters for any Underwritten Offering, pursuant to a
    Registration or sale under Section ‎3.1, the Company shall enter into an underwriting agreement with such underwriters, such agreement to be reasonably satisfactory in substance and form to each of
    the Company, the participating Holders and the underwriters, and to contain such representations and warranties by the Company and such other terms as are generally prevailing in agreements of that type, including indemnities no less favorable to the
    recipient thereof than those provided in Section ‎3.9. The Holders of the Registrable Securities proposed to be distributed by such underwriters shall cooperate with the Company in the negotiation of
    the underwriting agreement and shall give consideration to the reasonable suggestions of the Company regarding the form thereof, and such Holders shall complete and execute all questionnaires, powers of attorney and other documents reasonably requested
    by the underwriters and required under the terms of such underwriting arrangements. Any such Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations,
    warranties or agreements regarding such Holder, such Holder’s title to the Registrable Securities, such Holder’s intended method of distribution and any other representations to be made by the Holder as are generally prevailing in agreements of that
    type, and the aggregate amount of the liability of such Holder under such agreement shall not exceed such Holder’s proceeds from the sale of its Registrable Securities in the offering, net of underwriting discounts and commissions but before expenses.

   

  (b)       Piggyback Registrations. If the Company proposes to register or sell any of its securities under the Securities Act
    as contemplated by Section ‎3.3 and such securities are to be distributed through one or more underwriters, the Company shall, if requested by any Holder pursuant to Section ‎3.3, and subject to the provisions of Section ‎3.3(b), use its commercially reasonable efforts to arrange for such underwriters to include on the same
    terms and conditions that apply to the other sellers in such Registration or sale all the Registrable Securities to be offered and sold by such Holder among the securities of the Company to be distributed by such underwriters in such Registration or
    sale. The Holders of Registrable Securities to be distributed by such underwriters shall be parties to the underwriting agreement between the Company and such underwriters and shall complete and execute all questionnaires, powers of attorney and other
    documents reasonably requested by the underwriters and required under the terms of such underwriting arrangements. Any such Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters
    other than representations, warranties or agreements regarding such Holder, such Holder’s title to the Registrable Securities, such Holder’s intended method of distribution and any other representations to be made by the Holder as are generally
    prevailing in agreements of that type, and the aggregate amount of the liability of such Holder shall not exceed such Holder’s proceeds from the sale of its Registrable Securities in the offering, net of underwriting discounts and commissions but
    before expenses.

   

  (c)       Selection of Underwriters; Selection of Counsel. In the case of an Underwritten Offering under Sections ‎3.1 or ‎3.2, the managing underwriter or underwriters to administer the offering shall be determined by the Holders holding a majority of the
    Registrable Securities being sold; provided that such underwriter or underwriters shall be reasonably acceptable to the Company.

   

  3.7           No Inconsistent Agreements. Neither the Company nor any of its subsidiaries shall hereafter enter into, and
    neither the Company nor any of its subsidiaries is currently a party to, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders by this Agreement.

   

  

   

  
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  3.8            Registration Expenses. All expenses incident to the Company’s performance of or compliance with this
    Agreement shall be paid by the Company, including (i) all registration and filing fees, and any other fees and expenses associated with filings required to be made with the SEC or FINRA, (ii) all fees and expenses in connection with compliance with any
    securities or “Blue Sky” laws (including reasonable fees and disbursements of counsel for the underwriters in connection with Blue Sky qualifications of the Registrable Securities), (iii) all printing, duplicating, word processing, messenger,
    telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing prospectuses), (iv) all fees and disbursements of
    counsel for the Company and of all independent certified public accountants or independent auditors of the Company and any subsidiaries of the Company (including the expenses of any special audit and comfort letters required by or incident to such
    performance), (v) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or quotation of the Registrable Securities on any inter-dealer quotation system, (vi) all fees and expenses of any
    special experts or other Persons retained by the Company in connection with any Registration or sale, (vii) all of the Company’s internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties)
    and (viii) all expenses related to the “road show” for any Underwritten Offering (including the reasonable out-of-pocket expenses of the Holders and underwriters, if so requested). All such expenses are referred to herein as “Registration Expenses.”

    The Company shall not be required to pay any fees and disbursements to underwriters not customarily paid by the issuers of securities in an offering similar to the applicable offering, including underwriting discounts and commissions and transfer
    taxes, if any, attributable to the sale of Registrable Securities.

   

  		3.9	Indemnification.

   

  (a)       Indemnification by the Company. The Company shall indemnify and hold harmless, to the full extent permitted by law,
    each Holder, each shareholder, member, limited or general partner of such Holder, each shareholder, member, limited or general partner of each such shareholder, member, limited or general partner, each of their respective Affiliates, officers,
    directors, shareholders, employees, advisors, and agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective Representatives from and against any and all losses,
    penalties, judgments, suits, costs, claims, damages, liabilities and expenses, joint or several (including reasonable costs of investigation and legal expenses) (each, a “Loss” and collectively “Losses”) arising out of or based upon (i)
    any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which such Registrable Securities are registered or sold under the Securities Act (including any final, preliminary or summary Prospectus contained
    therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
    therein (in the case of a Prospectus or preliminary Prospectus, in light of the circumstances under which they were made) not misleading; provided that no selling Holder shall be entitled to indemnification pursuant to this Section ‎3.9(a) in respect of any untrue statement or omission contained in any information relating to such selling Holder furnished in writing by such selling Holder to the Company specifically for inclusion in a
    Registration Statement and used by the Company in conformity therewith (such information, “Selling Stockholder Information”). This indemnity shall be in addition to any liability the Company may otherwise have. Such indemnity shall remain in
    full force and effect regardless of any investigation made by or on behalf of such Holder or any indemnified party and shall survive the Transfer of such securities by such Holder and regardless of any indemnity agreed to in the underwriting agreement
    that is less favorable to the Holders. The Company shall also indemnify underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution, their officers and directors and each Person who
    controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above (with appropriate modification) with respect to the indemnification of the indemnified parties.

   

  

  (b)       Indemnification by the Selling Holders. Each selling Holder agrees (severally and not jointly) to indemnify and hold
    harmless, to the fullest extent permitted by law, the Company, its directors and officers and each Person who controls the Company (within the meaning of the Securities Act or the Exchange Act) from and against any Losses resulting from (i) any untrue
    statement of a material fact in any Registration Statement under which such Registrable Securities were registered or sold under the Securities Act (including any final, preliminary or summary Prospectus contained therein or any amendment thereof or
    supplement thereto or any documents incorporated by reference therein) or (ii) any omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus or preliminary
    Prospectus, in light of the circumstances under which they were made) not misleading, in each case to the extent, but only to the extent, that such untrue statement or omission is contained in such selling Holder’s Selling Stockholder Information. In
    no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the proceeds from the sale of its Registrable Securities in the offering giving rise to such indemnification obligation, net of underwriting
    discounts and commissions but before expenses, less any amounts paid by such Holder pursuant to Section ‎3.9(d) and any amounts paid by such Holder as a result of liabilities incurred under the
    underwriting agreement, if any, related to such sale.

   

  

   

  
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  (c)       Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder shall (i) give prompt
    written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder only
    to the extent, if at all, that it is actually and materially prejudiced by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided,
    however, that any Person entitled to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such
    Person unless (w) the indemnifying party has agreed in writing to pay such fees or expenses, (x) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Person
    entitled to indemnification hereunder and employ counsel reasonably satisfactory to such Person, (y) the indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses available to it or other indemnified
    parties that are different from or in addition to those available to the indemnifying party, or (z) in the reasonable judgment of any such Person (based upon advice of its counsel) a conflict of interest may exist between such Person and the
    indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have
    the right to assume the defense of such claim on behalf of such Person). If the indemnifying party assumes the defense, then no indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or
    consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such
    action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to or an admission of fault,
    culpability or a failure to act, by or on behalf of any indemnified party. If such defense is not assumed by the indemnifying party, the indemnifying party shall not be subject to any liability for any settlement made without its prior written consent,
    but such consent may not be unreasonably withheld. It is understood that the indemnifying party or parties shall not, except as specifically set forth in this Section ‎3.9(c), in connection with any
    proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate firm admitted to practice in such jurisdiction at any one time unless (x) the employment of more
    than one counsel has been authorized in writing by the indemnifying party or parties, (y) an indemnified party has reasonably concluded (based on the advice of counsel) that there may be legal defenses available to it that are different from or in
    addition to those available to the other indemnified parties or (z) a conflict or potential conflict exists or may exist (based upon advice of counsel to an indemnified party) between such indemnified party and the other indemnified parties, in each of
    which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels.

   

  (d)       Contribution. If for any reason the indemnification provided for in Sections ‎3.9(a)
    and ‎(b) is unavailable to an indemnified party or insufficient in respect of any Losses referred to therein (other than as a result of exceptions or limitations on indemnification contained in Sections

      ‎3.9(a) and ‎(b)), then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such Loss
    in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party or parties on the other hand in connection with the acts, statements or omissions that resulted in such Losses, as
    well as any other relevant equitable considerations. In connection with any Registration Statement filed with the SEC by the Company, the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand shall be
    determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the
    indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section

      ‎3.9(d) were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in this Section ‎3.9(d). No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.
    The amount paid or payable by an indemnified party as a result of the Losses referred to in Sections ‎3.9(a) and ‎(b) shall be deemed to
    include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section ‎3.9(d), in connection with any Registration Statement filed by the Company, a selling Holder shall not be required to contribute any amount in excess of the dollar amount of the proceeds from the sale of
    its Registrable Securities in the offering giving rise to such contribution obligation, net of underwriting discounts and commissions but before expenses, less any amounts paid by such Holder pursuant to Section ‎3.9(b)
    and any amounts paid by such Holder as a result of liabilities incurred under the underwriting agreement, if any, related to such sale. If indemnification is available under this Section ‎3.9, the
    indemnifying parties shall indemnify each indemnified party to the full extent provided in Sections ‎3.9(a) and ‎(b) hereof without regard
    to the provisions of this Section ‎3.9(d). The remedies provided for in this Section ‎3.9 are not exclusive and shall not limit any rights or
    remedies which may otherwise be available to any indemnified party at law or in equity.

   

  

   

  
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  3.10       Rules 144 and 144A and Regulation S. The Company shall file the reports required to be filed by it under the
    Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it shall, upon the request of any Holder, make publicly available such necessary information for
    so long as necessary to permit sales that would otherwise be permitted by this Agreement pursuant to Rule 144, Rule 144A or Regulation S under the Securities Act, as such rules may be amended from time to time or any similar rule or regulation
    hereafter adopted by the SEC), and it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities without Registration under the Securities Act
    in transactions that would otherwise be permitted by this Agreement and within the limitation of the exemptions provided by (i) Rule 144, Rule 144A or Regulation S under the Securities Act, as such rules may be amended from time to time, or (ii) any
    similar rule or regulation hereafter adopted by the SEC. Upon the request of any Holder, the Company shall deliver to such Holder a written statement as to whether it has complied with such requirements and, if not, the specifics thereof.

   

  3.11       Existing Registration Statements. Notwithstanding anything herein to the contrary and subject to applicable law
    and regulation, the Company may satisfy any obligation hereunder to file a Registration Statement or to have a Registration Statement become effective by a specified date by designating, by notice to the Holders, a Registration Statement that
    previously has been filed with the SEC or become effective, as the case may be, as the relevant Registration Statement for purposes of satisfying such obligation, and all references to any such obligation shall be construed accordingly; provided
    that such previously filed Registration Statement may be, and is, amended or, subject to applicable securities laws, supplemented to add the number of Registrable Securities, and, to the extent necessary, to identify as selling stockholders those
    Holders demanding the filing of a Registration Statement pursuant to the terms of this Agreement. To the extent this Agreement refers to the filing or effectiveness of other Registration Statements, by or at a specified time and the Company has, in
    lieu of then filing such Registration Statements or having such Registration Statements become effective, designated a previously filed or effective Registration Statement as the relevant Registration Statement for such purposes, in accordance with the
    preceding sentence, such references shall be construed to refer to such designated Registration Statement, as amended or supplemented in the manner contemplated by the immediately preceding sentence.

   

   

  
    22 

    
      
 

  

  
   

  

  Article IV 

    

    MISCELLANEOUS

   

  4.1          Authority; Effect. Each party hereto represents and warrants to and agrees with each other party that the
    execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized on behalf of such party and do not violate any agreement or other instrument applicable to such party or by which its assets
    are bound. This Agreement does not, and shall not be construed to, give rise to the creation of a partnership among any of the parties hereto, or to constitute any of such parties members of a joint venture or other association. The Company and its
    subsidiaries shall be jointly and severally liable for all obligations of each such party pursuant to this Agreement.

   

  4.2          Notices. Any notices, requests, demands and other communications required or permitted in this Agreement shall
    be effective if in writing and (i) delivered personally, (ii) sent by facsimile or e-mail, or (iii) sent by overnight courier, in each case, addressed as follows:

   

  If to the Company to:

   

  Excelerate Energy, Inc. 

  2445 Technology Forest Blvd., Level 6 

  The Woodlands, TX 77381 

  Telephone: (832) 813-7100 

  Attention: General Counsel and Secretary 

  E-mail: [●]

   

  with copies (not constituting notice) to:

   

  Gibson, Dunn & Crutcher LLP 

  811 Main Street, Suite 3000 

  Houston, TX 77002 

  Attention: Andrew L. Fabens 

  Hillary H. Holmes

  

  E-mail: AFabens@gibsondunn.com 

  HHolmes@gibsondunn.com

   

  and

   

  Frederic Dorwart, Lawyers PLLC 

  Old City Hall 

  124 East Fourth Street 

  Tulsa, OK 74103 

  Attention: Amanda D. Lovelace 

  E-mail: alovelace@fdlaw.com

   

  If to a Holder, to the address on file in the Company’s records.

   

  

   

  
    23 

    
      
 

  

  
   

   

  Notice to the holder of record of any Registrable Securities shall be deemed to be notice to the holder of such securities for all purposes hereof.

   

  Unless otherwise specified herein, such notices or other communications shall be deemed effective (i) on the date received, if personally delivered, (ii) on the date
    received if delivered by facsimile or e-mail on a Business Day, or if not delivered on a Business Day, on the first Business Day thereafter and (iii) two Business Days after being sent by overnight courier. Each of the parties hereto shall be entitled
    to specify a different address by giving notice as aforesaid to each of the other parties hereto.

   

  4.3       Termination and Effect of Termination. This Agreement shall terminate upon the date on which no Holder holds any
    Registrable Securities, except for the provisions of Sections ‎3.9 and ‎3.10, which shall survive any such termination. No termination under this
    Agreement shall relieve any Person of liability for breach or Registration Expenses incurred prior to termination. In the event this Agreement is terminated, each Person entitled to indemnification rights pursuant to Section ‎3.9 hereof shall retain such indemnification rights with respect to any matter that (i) may be an indemnified liability thereunder and (ii) occurred prior to such termination.

   

  4.4       Permitted Transferees. The rights of a Holder hereunder may be assigned (but only with all related obligations as
    set forth below) in connection with a Transfer of Registrable Securities to a Permitted Transferee of that Holder. Without prejudice to any other or similar conditions imposed hereunder with respect to any such Transfer, no assignment permitted under
    the terms of this Section ‎4.4 shall be effective unless the Permitted Transferee to which the assignment is being made, if not a Holder, has delivered to the Company a written acknowledgment and
    agreement in form and substance reasonably satisfactory to the Company that the Permitted Transferee shall be bound by, and shall be a party to, this Agreement. A Permitted Transferee to whom rights are transferred pursuant to this Section ‎4.4 may not again transfer those rights to any other Permitted Transferee, other than as provided in this Section ‎4.4.

   

  4.5       Remedies. The parties to this Agreement shall have all remedies available at law, in equity or otherwise in the
    event of any breach or violation of this Agreement or any default hereunder. The parties acknowledge and agree that in the event of any breach of this Agreement, in addition to any other remedies that may be available, each of the parties hereto shall
    be entitled to specific performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies (including preliminary or temporary relief) as may be appropriate in the circumstances. No delay of or omission in the
    exercise of any right, power or remedy accruing to any party as a result of any breach or default by any other party under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such
    breach or default, or of any similar breach or default occurring later; nor shall any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that waiver.

   

  

   

  
    24 

    
      
 

  

  
   

   

  4.6       Amendments. This Agreement may not be orally amended, modified, extended or terminated, nor shall any oral waiver
    of any of its terms be effective. This Agreement may be amended, modified, extended or terminated, and the provisions hereof may be waived, only by an agreement in writing signed by the Company and the Holders of a majority of the Registrable
    Securities under this Agreement; provided, however, that any amendment, modification, extension or termination that disproportionately and adversely affects any Holder shall require the prior written consent of such Holder. Each such
    amendment, modification, extension or termination shall be binding upon each party hereto. In addition, each party hereto may waive any right hereunder by an instrument in writing signed by such party.

   

  4.7       Governing Law. This Agreement and all claims arising out of or based upon this Agreement or relating to the
    subject matter hereof shall be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of laws provision or rule that would cause the application of the
    domestic substantive laws of any other jurisdiction.

   

  4.8       Consent to Jurisdiction. Each party to this Agreement, by its execution hereof, (i) hereby irrevocably submits to
    the exclusive jurisdiction of the state and federal courts sitting in the State of Delaware and the County of New Castle for the purpose of any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or
    investigation arising out of or based upon this Agreement or relating to the subject matter hereof, (ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to allow any of its subsidiaries to assert,
    by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that any such proceeding
    brought in one of the above-named courts is improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (iii) hereby agrees not to commence or maintain any action, claim, cause of action or suit
    (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof or thereof other than before one of the above-named courts nor to make any motion or take any
    other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation to any court other than one of the above-named courts whether
    on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert indemnification rights set forth in this Agreement, the
    court in which such litigation is being heard shall be deemed to be included in clause (i) above. Notwithstanding the foregoing, any party to this Agreement may commence and maintain an action to enforce a judgment of any of the above-named courts in
    any court of competent jurisdiction. Each party hereto hereby consents to service of process in any such proceeding in any manner permitted by Delaware law, and agrees that service of process by registered or certified mail, return receipt requested,
    at its address specified pursuant to Section ‎4.2 hereof is reasonably calculated to give actual notice.

   

  4.9       WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO
    HEREBY WAIVES AND COVENANTS THAT IT SHALL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY,
    PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING.
    EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION ‎4.9 CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND SHALL RELY IN ENTERING
    INTO THIS AGREEMENT. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION ‎4.9 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT
    TO TRIAL BY JURY.

   

  

   

  
    25 

    
      
 

  

  
   

   

  4.10       Merger; Binding Effect, Etc. This Agreement constitutes the entire agreement of the parties with respect to its
    subject matter, supersedes all prior or contemporaneous oral or written agreements or discussions with respect to such subject matter, and shall be binding upon and inure to the benefit of the parties hereto and thereto and their respective heirs,
    representatives, successors and permitted assigns. Except as otherwise expressly provided herein, no Holder or other party hereto may assign any of its respective rights or delegate any of its respective obligations under this Agreement without the
    prior written consent of the other parties hereto, and any attempted assignment or delegation in violation of the foregoing shall be null and void.

   

  4.11       Counterparts. This Agreement may be signed in counterparts (which may include counterparts delivered by any
    standard form of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by telecopier, facsimile or other
    electronic transmission shall be effective as delivery of a manually executed counterpart thereof. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Agreement or any document to be signed in
    connection with this Agreement shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature,
    physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic means.

   

  4.12       Severability. In the event that any provision hereof would, under applicable law, be invalid or unenforceable in
    any respect, such provision shall be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. The provisions hereof are severable, and in the event any provision
    hereof should be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect any other provision hereof.

   

  

   

  

  [Signature pages follow.]

   
  
    26 

    
      
 

  

    

  

  IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement as of the date first above written.

   

  

  	
           

        	
          Excelerate Energy, Inc.

        
	
           

        	
           

        
	
           

        	
          By:

        	
           

        
	
           

        	
           

        	
          Name:

        
	
           

        	
           

        	
          Title:

        

   

   

  

  Signature Page to Registration Rights Agreement

  

   

  
     

    
      
 

  

   

  

  	
           

        	
          Excelerate Energy Holdings, LLC

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
           

        
	
           

        	
           

        	
          Name:

        
	
           

        	
           

        	
          Title:

        

   

   

  

  Signature Page to Registration Rights Agreement

  

   

  
     

    
      
 

  

   

  

  	
           

        	
          Maya Maritime LLC

        
	
           

        	
           

        	
           

        
	
           

        	
          By:

        	
           

        
	
           

        	
           

        	
          Name:

        
	
           

        	
           

        	
          Title:

        

   

   

  

  Signature Page to Registration Rights AgreementExhibit 4.2

      

      STOCKHOLDER’S AGREEMENT

       

      This STOCKHOLDER’S AGREEMENT (this “Agreement”), dated as of ____________  __, 2022 is entered into by and among (i) Excelerate Energy, Inc., a Delaware corporation (the “Company”),
        (ii) Excelerate Energy Limited Partnership, a Delaware limited partnership (the “Partnership”), and (iii) Excelerate Energy Holdings, LLC, a Delaware limited liability company (together with its Permitted Transferees (as defined below) who
        are assignees pursuant to Section 4.9 hereof, the “Kaiser Investor”). Capitalized terms used herein without definition shall have the meanings set forth in Section 1.1.

       

      RECITALS

       

      WHEREAS, the Company and the Partnership have entered into an underwriting agreement (a) to issue and sell to the several underwriters named therein shares of Class A common stock, par value $0.001
        per share, of the Company (the “Class A Common Stock”) and (b) to make a public offering of those shares of Class A Common Stock ((a) and (b), collectively, the “IPO”); and

       

      WHEREAS, the Company, the Partnership, the Kaiser Investor and certain other Persons have effected, or will effect in connection with the Closing (as defined below), a series of reorganization
        transactions (collectively, the “Reorganization Transactions”);

       

      WHEREAS, after giving effect to the Reorganization Transactions, the Kaiser Investor, together with its Permitted Transferees, Beneficially Owns or will Beneficially Own shares of the Company’s
        Class B common stock, par value $0.001 per share (the “Class B Common Stock” and, together with the Class A Common Stock, the “Common Stock”), and Class B interests in the Partnership (“Class B Interests”), which Class B
        Interests, subject to certain restrictions, are exchangeable from time to time at the option of the Beneficial Owner thereof for shares of Class A Common Stock pursuant to the terms of the Amended and Restated Limited Partnership Agreement of the
        Partnership (as may be amended from time to time, the “Partnership Agreement”); and

       

      WHEREAS, in connection with, and effective upon, the closing of the IPO, the parties hereto have entered into this Agreement to set forth certain understandings among themselves, including with
        respect to certain corporate governance matters.

       

      NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other good and valuable consideration, the receipt and sufficiency
        of which is hereby acknowledged, the parties hereto agree as follows:

       

      

      
        1

        
          

      

      AGREEMENTS

       

      ARTICLE I

          DEFINITIONS

       

      1.1          Certain Definitions. As used in this Agreement, the following terms will have the following meanings:

       

      “Affiliate” means, with respect to any specified Person, (a) any Person that directly or indirectly through one or more intermediaries Controls or is Controlled by, or is under common
        Control with, such specified Person or (b) a Permitted Transferee of such Person. For purposes hereof, (x) the Company, the Partnership and their respective subsidiaries shall not be deemed to be Affiliates of the Kaiser Investor or any of its
        Affiliates, and (y) the Foundation shall not be considered to be an Affiliate of the Kaiser Investor.

       

      “Beneficial Owner” means, with respect to any security, any Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares (a)
        voting power, which includes the power to vote, or to direct the voting of, such security or (b) investment power, which includes the power to dispose, or to direct the disposition of, such security. The terms “Beneficially Own” and “Beneficial
          Ownership” shall have correlative meanings.

       

      “Board” means the Board of Directors of the Company.

       

      “Bylaws” means the Company’s amended and restated bylaws, as they may be amended or restated from time to time.

       

      “Certificate of Incorporation” means the Company’s amended and restated certificate of incorporation, as it may be amended and/or restated from time to time.

       

      “Change in Control” shall be deemed to have occurred if or upon:

       

      (a)          any Person or any group of Persons acting together which would constitute a “group” for purposes of Section 13(d) of the Exchange Act (other than the Kaiser Investor and its
        Affiliates), is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then-outstanding voting securities entitled to vote in the election of
        directors generally;

       

      (b)          a merger or consolidation of the Company with any other corporation or other entity and, immediately after the consummation or as a result of such transaction, either (i) the members
        of the Board immediately prior to the merger or consolidation do not constitute at least a majority of the members of the board of directors of the company surviving the merger, or if the surviving company is a subsidiary, the ultimate parent
        thereof, or (ii) the voting securities of the Company immediately prior to such merger or consolidation do not continue to represent or are not converted into more than 50% of the combined voting power of the then-outstanding voting securities of
        the Person resulting from such merger or consolidation, or if the surviving company is a subsidiary, the ultimate parent thereof;

       

      (c)          a sale of all or substantially all of the assets of the Company to another Person, other than such sale by the Company of all or substantially all of the Company’s assets to an entity,
        at least 50% of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale; or

       

      

      (d)           the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company. 

       

      

      
        2

        
          

      

      Notwithstanding the foregoing, except with respect to clause (b)(i) above, a “Change in Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series of
        integrated transactions immediately following which the stockholders of the Company immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in, and own substantially all of the
        shares of, an entity which owns, either directly or through a subsidiary, all or substantially all of the assets of the Company immediately following such transaction or series of transactions.

       

      “Control” (including the terms “Controls,” “Controlled by” and “under common Control with”) means the possession, direct or indirect, 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.

       

      “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto, and the rules and regulations promulgated thereunder.

       

      “Fair Market Value” means, with respect to property (other than cash), the fair market value of such property as determined in good faith by the Board.

       

      “Foundation” means the George Kaiser Family Foundation together with its Affiliates and subsidaries (including Maya Maritime LLC, a Marshall Islands limited liability company).

       

      “GAAP” means generally accepted accounting principles, as in effect in the United States of America from time to time.

       

      “Necessary Action” means, with respect to a specified result, all actions (to the extent such actions are permitted by applicable law and, in the case of any action by the Company that
        requires a vote or other action on the part of the Board, to the extent such action is consistent with the fiduciary duties that the Company’s directors have in such capacity) necessary to cause such result, including (a) voting or providing a
        written consent or proxy with respect to shares of Common Stock or other securities entitled to vote with respect to such specified result, (b) causing the adoption of stockholders’ resolutions and amendments to the organizational documents of the
        Company or the Partnership, (c) causing members of the Board (to the extent such members were designated by the Person obligated to undertake the Necessary Action) to act (subject to any applicable fiduciary duties) in a certain manner or causing
        them to be removed in the event they do not act in such a manner, (d) executing agreements and instruments and (e) making or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar
        actions that are required to achieve such result.

       

      “Permitted Transferee” means (a) any Person to whom the Kaiser Investor has validly transferred Class B Interests in accordance with, and not in contravention of, the Partnership Agreement
        (which shall not include, for the avoidance of doubt, the Foundation) and/or (b) for a period of five years from and after George B. Kaiser’s death, the Foundation; provided, however, that (i) the Permitted Transferee (other than
        the Foundation) shall agree in a writing in the form attached as Exhibit A hereto to be bound by and to comply with all applicable provisions of this Agreement. For the avoidance of doubt, for a period of five years from and after Mr.
        Kaiser’s death, all ownership percentages included in Sections 2.1 and 2.2 below, and all ownership percentages used to determine whether the Trigger Date (as defined in the Certificate of Incorporation) has occurred (if the
        Trigger Date has not occurred prior to Mr. Kaiser’s death), shall be calculated based on the shares of Common Stock beneficially owned by the Foundation.  In addition, for the avoidance of doubt, for these purposes, the Foundation’s beneficial
        ownership shall be deemed to include, immediately upon Mr. Kaiser’s death, any shares bequeathed to the Foundation pursuant to Mr. Kaiser’s will, testamentary document or otherwise, regardless of when formal legal ownership of such shares is
        transferred to the Foundation.

       

      

      
        3

        
          

      

      “Person” means and includes an individual, a corporation, a partnership, a limited liability company, a trust, an unincorporated organization, a government or any department or agency
        thereof, or any entity similar to any of the foregoing.

       

      “Total Number of Directors” shall mean, at any time of determination, the total number of directors comprising the Board.

       

      1.2          Rules of Construction.

       

      (a)          Unless the context requires otherwise: (i) any pronoun used in this Agreement will include the corresponding masculine, feminine or neuter
        forms; (ii) references to Articles and Sections refer to articles and sections of this Agreement; (iii) the terms “include,” “includes,” “including” and words of like import will be deemed to be followed by the words “without limitation”; (iv) the
        terms “hereof,” “hereto,” “herein” or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement; (v) unless the context otherwise requires, the term “or” is not exclusive and will have the inclusive
        meaning of “and/or”; (vi) defined terms herein will apply equally to both the singular and plural forms and derivative forms of defined terms will have correlative meanings; (vii) references to any law or statute will include all rules and
        regulations promulgated thereunder, and references to any law or statute will be construed as including any legal and statutory provisions consolidating, amending, succeeding or replacing the applicable law or statute; (viii) references to any
        Person include such Person’s successors and permitted assigns; and (ix) references to “days” are to calendar days unless otherwise indicated.

       

      (b)          The headings in this Agreement are for convenience and identification only and are not intended to describe, interpret, define or limit the
        scope, extent or intent of this Agreement or any provision thereof.

       

      (c)          This Agreement will be construed without regard to any presumption or other rule requiring construction against the party that drafted or
        caused this Agreement to be drafted.

       

      ARTICLE II

          GOVERNANCE MATTERS

       

      2.1          Board Designees.

       

      (a)          In connection and following the closing of the IPO (the “Closing”), the Kaiser Investor shall have
          the right, but not the obligation, to nominate to the Board a number of designees (“Director Designees”) equal to at least: (i) a majority of the Total Number of Directors, so long as the Kaiser
          Investor Beneficially Owns 50% or more of the then-outstanding shares of Common Stock; (ii) 40% of the Total Number of Directors, in the event that the Kaiser Investor Beneficially Owns 40% or more, but less than 50%, of the then-outstanding
          shares of Common Stock; (iii) 30% of the Total Number of Directors, in the event that the Kaiser Investor Beneficially Owns 30% or more, but less than 40%, of the then-outstanding shares of Common Stock; (iv) 20% of the Total Number of Directors,
          in the event that the Kaiser Investor Beneficially Owns 20% or more, but less than 30%, of the then-outstanding shares of Common Stock; and (v) 10% of the Total Number of Directors, in the event that the Kaiser Investor Beneficially Owns 5% or
          more, but less than 20%, of the then-outstanding shares of Common Stock. For purposes of calculating the number of Director Designees that the Kaiser Investor is entitled to designate pursuant to the immediately preceding sentence, ownership
          shall be adjusted for stock splits, combinations, reclassifications and similar transactions, if any, and any fractional amounts shall automatically be rounded up to the nearest whole number (e.g., one and one-quarter of Director Designees shall
          equate to two Director Designees), and any such calculations shall be made after taking into account any increase or decrease in the Total Number of Directors, if any (subject to the Kaiser Investor’s prior written consent pursuant to Section 2.2
          below, except as provided in this Section 2.1(a) with respect to decreases in ownership of the Kaiser Investor).

       

        

      
        4

        
          

      

      (b)           As of the Closing, the following four directors shall initially be deemed to be Director
        Designees: Steven M. Kobos, Henry G. Kleemeier, Don. P. Millican and Robert A. Waldo. If and when the Board shall become classified under the terms of the
        Certificate of Incorporation, directors then serving on the Board, including any Director Designees, shall be divided into three classes of directors, with each class serving staggered three-year terms in accordance with the Certificate of
        Incorporation and, unless otherwise requested by the Kaiser Investor, each Director Designee, if any, shall be assigned to a different class (to the extent possible) as requested by the Kaiser Investor.

       

      (c)          The Company agrees, to the fullest extent permitted by applicable law (including with respect to fiduciary
          duties under Delaware law), to use its best efforts and to take, or cause to be taken, all Necessary Action, and, if applicable, the Kaiser Investor agrees to vote its shares, to cause the election of each Director Designee to the Board, which
          such Necessary Action shall include, without limitation, (i) nominating and recommending each Director Designee to be elected as a director and included in the slate of nominees to be elected or appointed to the Board at the next (and each
          applicable subsequent) annual or special meeting of stockholders, (ii) recommending that stockholders vote in favor of any such Director Designee, (iii) soliciting proxies or consents in favor of each Director Designee, and (iv) without limiting
          the foregoing, otherwise using its best efforts to cause such nominees who are Director Designees to be elected to the Board, including providing at least as high a level of support for the election of such nominees as it provides to any other
          individual standing for election as a director. For the avoidance of doubt, the rights granted to the Kaiser Investor to designate members of the Board are additive to, and not intended to limit in any way, the rights that the Kaiser Investor may
          have to nominate, elect or remove directors under the Certificate of Incorporation, the Bylaws or the Delaware General Corporation Law.

       

        

      
        5

        
          

      

      (d)          In the event that the Kaiser Investor has nominated less than the total number of Director Designees that
          it shall be entitled to nominate pursuant to Section 2.1(a), then the Kaiser Investor shall have the right, at any time, to nominate such additional Director Designee(s) to which it is entitled, in which case, the Company and the
          Board shall take all Necessary Action, and, if applicable, the Kaiser Investor shall vote its shares, to the fullest extent permitted by applicable law (including with respect to fiduciary duties under Delaware law), to (i) enable the Kaiser
          Investor to nominate and effect the election or appointment of such additional individuals, whether by increasing the size of the Board or otherwise (subject to the Kaiser Investor’s prior written consent pursuant to Section 2.2
          below), and (ii) designate such additional individuals nominated by the Kaiser Investor to fill such newly created vacancies or to fill any other existing vacancies.

       

      (e)          Except as provided in Section 2.1(a) with respect to decreases in ownership of the Kaiser
          Investor, the Kaiser Investor shall have the exclusive right to (i) request the removal of one or more of its Director Designees from the Board in accordance with the Certificate of Incorporation and the Bylaws, and the Company and the Kaiser
          Investor shall take all Necessary Action, and, if applicable, the Kaiser Investor shall vote its shares, to cause the removal (whether for or without cause) of any such Director Designee at the request of the Kaiser Investor and (ii) designate
          directors for nomination and election to the Board to fill vacancies (for the remainder of the then-current term) created by reason of death, disability, removal or resignation or otherwise of its Director Designees to the Board, and the Company
          and the Kaiser Investor shall take all Necessary Action to cause any such vacancies to be filled by replacement directors nominated by the Kaiser Investor as promptly as reasonably practicable.

       

      (f)           In the event that the Kaiser Investor shall cease to have the right to designate one or more director(s)
          pursuant to this Section 2.1, the Director Designee(s) selected by the Kaiser Investor shall (i) at the request of a majority of the directors then in office or the Chairman of the Board resign immediately, or the Kaiser Investor
          shall take all action necessary to remove such Director Designee(s) or (ii) if no such request is made, continue to serve until his or her term expires at the next applicable annual meeting of stockholders of the Company or until his earlier
          death, resignation, removal, retirement or disqualification. In the event such Director Designee resigns or is removed at the request of a majority of the directors then in office or the Chairman of the Board, the directors remaining in office
          shall be entitled to decrease the size of the Board to eliminate such vacancy and no consent under Section 2.2 shall be required in connection with such decrease.

       

      (g)          So long as the Kaiser Investor Beneficially Owns more than 50% of the then-outstanding shares of Common
          Stock (as adjusted for stock splits, combinations, reclassifications and similar transactions), the Kaiser Investor shall have the right, but not the obligation, to designate, and the Company shall take all Necessary Action, and, if applicable,
          the Kaiser Investor shall vote its shares, to cause the Board to include at least two Director Designees on each committee of the Board (other than the audit committee), as designated by the Kaiser Investor (subject to any requirements, including
          independence requirements, for such committee members imposed by applicable law or by the applicable rules of any national securities exchange on which the Class A Common Stock may be listed or traded). So long as the Kaiser Investor Beneficially
          Owns 20% or more, but less than or equal to 50%, of the then-outstanding shares of Common Stock (as adjusted for stock splits, combinations, reclassifications and similar transactions), the Company shall take all Necessary Action, and, if
          applicable, the Kaiser Investor shall vote its shares, to cause the Board to include at least one Director Designee on each committee of the Board (other than the audit committee), as designated by the Kaiser Investor (subject to any
          requirements, including independence requirements, for such committee members imposed by applicable law or by the applicable rules of any national securities exchange on which the Class A Common Stock may be listed or traded).

       

        

      
        6

        
          

      

      (h)          So long as the Kaiser Investor Beneficially Owns 50% or more of the then-outstanding shares of Common Stock
          (as adjusted for stock splits, combinations, reclassifications and similar transactions), the Kaiser Investor shall have the right, but not the obligation, to designate, and the Company and the Board, to
          the fullest extent permitted by applicable law (including with respect to fiduciary duties under Delaware law) shall cause the Board to appoint, the Chairman of the Board. In the event that the Kaiser Investor shall cease to have the right to
          designate the Chairman of the Board pursuant to this Section 2.1, the Chairman of the Board designated by the Kaiser Investor shall (i) at the request of a majority of the directors then in office or the Chairperson of the
          Nominating and Corporate Governance Committee (or equivalent)resign immediately, or the Kaiser Investor shall take all action necessary to remove such Chairman of the Board or (ii) if no such request is made, continue to serve until his or her
          successor is elected and appointed or until his earlier death, resignation, removal, retirement or disqualification.

       

      (i)           For the avoidance of doubt, unless consented to otherwise in writing by the Kaiser Investor, the Company shall avail itself of all available
        “controlled company” exceptions to the corporate governance listing standards of any securities exchange on which shares of Class A Common Stock are listed, unless waived in writing by the Kaiser Investor (the “Applicable Stock Exchange”).
        If the Company ceases to qualify as a “controlled company” for purposes of the Applicable Stock Exchange rules, the Kaiser Investor and the Company shall take whatever action may be reasonably necessary in relation to such party, if any, to cause
        the Company to comply with the Applicable Stock Exchange rules as then in effect within the timeframe for compliance available under such rules, which may include requiring one or more Director Designee to satisfy the general independence
        requirements of the Applicable Stock Exchange to the extent needed to reach majority of independent directors on the Board, subject to any applicable transition periods.

       

      (j)          So long as the Kaiser Investor has the right to designate Director Designees for nomination and election to the Board under Section 2.1(a)
        above, the Kaiser Investor shall have the right (but not obligation) to designate, and the Company shall take all Necessary Action to appoint, two non-voting representatives (the “Observers”) to attend and observe all meetings of the Board
        and any committees thereof. Until the Observer ceases to serve in such capacity, any such Observer shall, at the same time and in the same manner as provided to the directors of the Board, be entitled to (i) be given notice of all meetings (whether
        in person, telephonic or otherwise) of the Board, including all committee meetings; (ii) receive copies of all notices, agendas, consents, Board and committee minutes and other materials distributed to the Board and any committees thereof, whether
        provided to directors in advance or, during or after any meeting, regardless of whether the Observer shall be in attendance at the meeting; and (iii) participate in (but not vote on) all discussions conducted at Board and committee meetings; provided,
        however, that, for the avoidance, of doubt, the Observer(s) shall (x) not be counted for purposes of determining whether a quorum is present at any meeting of the Board or any committee thereof, (y) not have the right to vote on any matter
        brought before the Board or any committee thereof or to participate in any action by unanimous written consent in lieu of a meeting of the Board or any committee thereof (and no vote or consent of the Observer shall be required for purposes of
        determining whether any matter has been approved by the Board or any committee thereof), and (z) not be entitled to any other rights or powers of directors under the Certificate of Incorporation, the Bylaws, the Delaware General Corporation Law,
        applicable law or any other agreement to which the Company is a party.  Notwithstanding any of the foregoing, the Company shall not be obligated to provide the Observer(s) with access to any information, materials or meetings (or portions thereof)
        if a majority of the members of the Board who are non-Director Designees determine reasonably that the exclusion of the Observer(s) is reasonably necessary to (A) preserve attorney-client privilege or protect highly confidential information or (B)
        avoid a conflict of interest between the Company and the Kaiser Investor or any of its Affiliates or breach of contractual or other legal obligations. The Observer(s) shall (1) keep all information received pursuant to the rights granted by this
        Agreement confidential in accordance with Section 2.1(k) below and may be required, at the Company’s request, execute an observer agreement and/or confidentiality agreement in the form reasonably acceptable to the Company and the
        Kaiser Investor and (2) not use such information in any way or for any purpose other than to assist the Kaiser Investor in monitoring, evaluating and managing its investment in the Company. As long as the Kaiser Investor is entitled to appoint the
        Observers in accordance with this Section 2.1(j), the Kaiser Investor shall be entitled to direct the replacement of the Observer(s) for any reason and at any time by delivering notice in writing or by electronic transmission of such
        replacement to the Company, which such replacement shall take effect at the time specified in such notice.

       

      

      
        7

        
          

      

      (k)          Except as may be required by applicable law or requested by any applicable governmental entity or
          authority, each Director Designee and Observer shall agree to maintain the confidentiality of all confidential information and shall not disclose any confidential information to any person or entity and comply with all Company policies applicable
          to members of the Board generally; provided that (i) any such Director Designee and Observer may disclose confidential information to representatives of the Kaiser Investor who have a reasonable need to know such information solely for
          the purpose of allowing them to monitor, evaluate and manage their investment in the Company.

       

      (l)           For the avoidance of doubt, for so long as any Director Designee serves as a director of the Company, (i)
          the Company shall take all Necessary Actions, and, if applicable, the Kaiser Investor shall vote its shares, as to cause the Company, to provide each such Director Designee with the rights to exculpation, indemnification and advancement of
          expenses that are not less favorable to any such Director Designee than those it provides to any other non-employee directors serving on the Board, and (ii) the Company shall reimburse each such Director Designee for his or her reasonable
          out-of-pocket expenses incurred by him or her in connection with performing his or her duties as a member of the Board (or any committee thereof), including the reasonable out-of-pocket expenses incurred by such person for attending meetings of
          the Board (or any committee thereof), or in connection with their service, if applicable, on the board or other similar governing body of any subsidiary of the Company (or any committee thereof).

       

      (m)          The rights granted pursuant to this Section 2.1 are personal to the Kaiser Investor and
          shall not be exercised by anyone else, other than a Permitted Transferee.

       

        

      
        8

        
          

      

      2.2          Consent Rights.

       

      (a)          So long as the Kaiser Investor Beneficially Owns at least 15% of the then-outstanding shares of Common
          Stock (as adjusted for stock splits, combinations, reclassifications and similar transactions), in addition to any vote required by law or the applicable governing documents, the Company shall not take,
          and shall take all Necessary Action to cause its subsidiaries not to take, directly or indirectly (whether by amendment, merger, consolidation, reorganization or otherwise), any of the following actions without the prior written consent of the
          Kaiser Investor, which consent may be withheld for any reason or no reason:

       

      (i)          liquidation, dissolution or winding up of the Company;

       

      (ii)         any material change in the nature of the business or operations of the Company and its
          subsidiaries, taken as a whole, as of the date of this Agreement;

       

      (iii)        authorizing or issuing any equity securities having rights, preferences or privileges
          superior or senior to the outstanding shares of Class A Common Stock or Class B Common Stock (or any securities convertible or exchangeable therefor pursuant to their terms);

       

      (iv)        any increase or decrease in the size of (x) the Board from the initial number of
          directors set at the time of the IPO (expected to be 6 directors) or (y) any board of a subsidiary of the Company;

       

      (v)         adopting or implementing any stockholder rights plan or similar takeover defense
          measure; and

       

      (vi)        amendments to, or modification or repeal of, organizational documents (such as the
          Certificate of Incorporation and Bylaws or equivalent organizational documents of the Company’s subsidiaries) that adversely affect the Kaiser Investor or its Affiliates.

       

      (b)          So long as the Kaiser Investor Beneficially Owns at least 25% of the outstanding shares of Common Stock (as
          adjusted for stock splits, combinations, reclassifications and similar transactions), in addition to, for the avoidance of doubt, the consent rights set forth in Section 2.2(a)
        above, and any vote required by law or the applicable governing documents, the Company shall not take, and shall take all Necessary Action to cause its subsidiaries not to take, directly or indirectly (whether by
          amendment, merger, consolidation, reorganization or otherwise), any of the following actions without the prior written consent of the Kaiser Investor, which consent may be withheld for any reason or no reason:

       

      (i)          hiring or terminating the Chief Executive Officer of the Company and his or her successors;

       

      (ii)         any change in the size of (x) any committee of the Board (as compared to the size
          approved in connection with the IPO) or (y) any committee of any board of the Company’s subsidiaries;

       

        

      
        9

        
          

      

      (iii)        forming any new committee of the Board (other than committees formed in connection with
          the IPO);

       

      (iv)        any mergers or other transaction that, if consummated, would constitute a Change in
          Control or entering into any definitive agreement or series of related agreements that govern any transaction or series of related transactions that, if consummated, would result in a Change in Control;

       

      (v)         entering into any agreement providing for the acquisition or divestiture of assets or
          Persons, in each such case, involving consideration payable or receivable by the Company or any of its subsidiaries in excess of $100 million in the aggregate in any single transaction or series of related transactions during any 12-month period;

       

      (vi)        any incurrence by the Company or any of its subsidiaries of indebtedness for borrowed
          money (including through capital leases, the issuance of debt securities or the guarantee of indebtedness of another Person) in excess of $100 million in the aggregate in any single transaction or series of related transactions during any
          12-month period, other than indebtedness incurred under an existing (prior to the closing of the IPO) and previously approved revolving credit facility;

       

      (vii)      any issuance or series of related issuances of equity securities by the Company or any of
          its subsidiaries, other than grants of equity securities under any equity compensation plan, including an employee stock purchase plan, approved by the Board or a committee thereof; and

       

      (viii)      any payment or declaration of any dividend or other distribution of any shares of Class
          A Common Stock or Class B Common Stock or entering into any similar recapitalization transaction the primary purpose of which is to pay a dividend of shares of Class A Common Stock or Class B Common Stock.

       

      ARTICLE III

          EFFECTIVENESS AND TERMINATION

       

      3.1          Effectiveness. Upon the closing of the IPO, this Agreement will thereupon be deemed to be effective. However, to the extent the closing
        of the IPO does not occur, the provisions of this Agreement will be without any force or effect.

       

      3.2          Termination. This Agreement will automatically terminate upon the earlier to occur of (a) the Kaiser
          Investor no longer having the right to designate an individual for nomination to the Board under this Agreement, (b) the delivery of written notice to the Company and the Partnership by the Kaiser Investor effecting the termination of this
        Agreement and (c) the fifth anniversary of Mr. Kaiser’s death.

       

        

      
        10

        
          

      

      ARTICLE IV

          MISCELLANEOUS

       

      4.1          Notices. All notices, requests, demands and other communications under this Agreement will be in writing and will be personally
        delivered, sent by nationally recognized overnight courier, mailed by registered or certified mail or be sent by facsimile or electronic mail to such party at the address set forth below (or such other address as will be specified by like notice).
        Notices will be deemed to have been duly given hereunder if (a) personally delivered, when received, (b) sent by nationally recognized overnight courier, one business day after deposit with the nationally recognized overnight courier, (c) mailed by
        registered or certified mail, five business days after the date on which it is so mailed, and (d) sent by facsimile or electronic mail, on the date sent so long as such communication is transmitted before 5:00 p.m. on a business day in the time
        zone of the receiving party, otherwise, on the next business day.

       

      

      
        	
                 

              	(a)

              	If to the Company or the Partnership, to:
	
                 

              	
                 

              	
                 

              
	
                 

              	
                 

              	Excelerate Energy, Inc. or
	
                 

              	
                 

              	     Excelerate Energy Limited Partnership, as appliacble
	
                 

              	
                 

              	2445 Technology Forest Blvd., Level 6
	
                 

              	
                 

              	The Woodlands, TX 77381
	
                 

              	
                 

              	Telephone: (832) 813-7100
	
                 

              	
                 

              	Attention: General Counsel and Secretary
	
                 

              	
                 

              	E-mail: [●]
	
                 

              	
                 

              	
                 

              
	
                 

              	
                 

              	with copies (not constituting notice) to:
	
                 

              	
                 

              	
                 

              
	
                 

              	
                 

              	Gibson, Dunn & Crutcher LLP
	
                 

              	
                 

              	811 Main Street, Suite 3000
	
                 

              	
                 

              	Houston, TX 77002
	
                 

              	
                 

              	Attention:   Andrew L. Fabens
	
                 

              	
                 

              	
                                     Hillary H. Holmes

              
	
                 

              	
                 

              	E-mail:   AFabens@gibsondunn.com
	
                 

              	
                 

              	
                
                  
                    
                      HHolmes@gibsondunn.com

                    

                  

                

              
	
                 

              	
                 

              	
                 

              
	 	 	and
	 	 	 
	 	 	Frederic Dorwart, Lawyers PLLC
	 	 	Old City Hall
	 	 	124 East Fourth Street
	 	 	Tulsa, OK 74103
	 	 	Attention: [●]
	 	 	E-mail: [●]
	 	 	 
	 	(b)	 If to the Kaiser Investor, to:
	 	 	 
	 	 	Excelerate Energy Holdings, LLC
	 	 	[●]

      

      

      
        11

        
          

      

      
        	
                 

              	
                 

              	
                [●]

              
	
                 

              	
                 

              	
                Attention: [●]

              
	
                 

              	
                 

              	E-mail: [●]
	
                 

              	
                 

              	
                 

              
	
                 

              	
                 

              	with a copy (not constituting notice) to:
	
                 

              	
                 

              	
                 

              
	
                 

              	
                 

              	Frederic Dorwart, Lawyers PLLC
	
                 

              	
                 

              	Old City Hall
	
                 

              	
                 

              	124 East Fourth Street
	 	 	Tulsa, OK 74103
	 	 	Attention: [●]
	
                 

              	
                 

              	E-mail: [●]

      

      

       4.2          Severability. The provisions of this Agreement will be deemed severable, and the invalidity or unenforceability of any provision will
        not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof to any Person or any circumstance, is found to be invalid or unenforceable in any jurisdiction, (a) a suitable
        and equitable provision will be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of
        such provision to other Persons or circumstances will not be affected by such invalidity or unenforceability, nor will such invalidity or unenforceability affect the validity or enforceability of such provision, or the application thereof, in any
        other jurisdiction.

       

      4.3          Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed an original and all of which,
        taken together, will be considered one and the same agreement.

       

      4.4          Entire Agreement; No Third-Party Beneficiaries. This Agreement (a) constitutes the entire agreement and supersedes all other prior
        agreements, both written and oral, among the parties hereto with respect to the subject matter hereof and (b) is not intended to confer upon any Person, other than the parties hereto, any rights or remedies hereunder.

       

      4.5          Further Assurances. Each party hereto will execute, deliver, acknowledge and file such other documents and take such further actions as
        may be reasonably requested from time to time by the other parties hereto to give effect to and carry out the transactions contemplated herein.

       

      4.6         Governing Law; Equitable Remedies. THIS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
        DELAWARE (WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES THEREOF). The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with its specific terms
        or was otherwise breached. It is accordingly agreed that the parties hereto will be entitled to an injunction or injunctions and other equitable remedies to prevent breaches of this Agreement and to enforce specifically the terms and provisions
        hereof in any of the Selected Courts (as defined below), this being in addition to any other remedy to which they are entitled at law or in equity. Any requirements for the securing or posting of any bond with respect to such remedy are hereby
        waived by each of the parties hereto. Each party hereto further agrees that, in the event of any action for an injunction or other equitable remedy in respect of such breach or enforcement of specific performance, it will not assert the defense
        that a remedy at law would be adequate.

       

      

      
        12

        
          

      

      4.7          Consent to Jurisdiction. With respect to any suit, action or proceeding (“Proceeding”) arising out of or relating to this
        Agreement, each of the parties hereto hereby irrevocably (a) submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware and the United States District Court for the District of Delaware and the appellate courts
        therefrom (the “Selected Courts”) and waives any objection to venue being laid in the Selected Courts whether based on the grounds of forum non conveniens or otherwise and hereby agrees not to commence any such Proceeding other than before
        one of the Selected Courts; provided, however, that a party may commence any Proceeding in a court other than a Selected Court solely for the purpose of enforcing an order or judgment issued by one of the Selected Courts;
        (b) consents to service of process in any Proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, or by recognized international express carrier or delivery service, to their respective addresses referred to in
        Section 4.1 hereof; provided, however, that nothing herein will affect the right of any party hereto to serve process in any other manner permitted by law; and (c) TO
        THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, WAIVES, AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY ACTION ARISING IN WHOLE OR IN PART UNDER OR IN
        CONNECTION WITH THIS AGREEMENT, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AND AGREES THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING,
        VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE THE RIGHT TO TRIAL BY JURY IN ANY PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT AND TO HAVE ALL MATTERS RELATING TO THIS AGREEMENT BE TRIED IN A COURT OF
        COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY.

       

      4.8          Amendments; Waivers.

       

      (a)          No provision of this Agreement may be amended or waived unless such amendment or waiver is in writing and signed (i) in the case of an
        amendment, by each of the parties hereto (including any amendment providing for additional obligations hereunder of any party hereto), and (ii) in the case of a waiver, by each of the parties against whom the waiver is to be effective.

       

      (b)          No failure or delay by any party in exercising any right, power or privilege hereunder will operate as waiver thereof nor will any single or
        partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided will be cumulative and not exclusive of any rights or remedies provided by law.

       

      

      
        13

        
          

      

       4.9         Assignment. Neither this Agreement nor any of the rights or obligations hereunder will be assigned by any of the parties hereto
        without the prior written consent of the other parties, and any attempted assignment, without such consents, will be null and void; provided, however, that the Kaiser Investor shall be entitled to assign, in whole or in part, to any
        of its Permitted Transferees without such prior written consent any of its rights or obligations hereunder as follows: (a) pursuant to a will or other testamentary document to the Foundation for a period of time not to exceed five years since Mr.
        Kaiser’s death; and/or (b) in connection with and upon a transfer of Common Stock from the Kaiser Investor to such Permitted Transferee.

       

      [Signature pages follow.]

       

      

      
        14

        
          

      

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

       

      

      	 	
              COMPANY:

            
	 	 
	 	
              Excelerate Energy, Inc.

            
	 	 
	 	
              By:

            	

            
	 	
              Name:

            	 
	 	
              Title:

            	 

       

      	 	
              PARTNERSHIP:

            
	 	 
	 	
              Excelerate Energy Limited Partnership

            
	 	
                      By: Excelerate Energy, Inc., its general partner

            
	 	 
	 	
              By:

            	

            
	 	
              Name:

            	 
	 	
              Title:

            	 

      

        Signature Page to Stockholder’s Agreement 

       

      

      
        
          

      

      	 	
              KAISER INVESTOR:

            
	 	 
	 	
              Excelerate Energy Holdings, LLC

            
	 	 
	 	
              By:

            	

            
	 	
              Name:

            	 
	 	
              Title:

            	 

       

      Signature Page to Stockholder’s Agreement 

       

        

      
        
          

      

       Exhibit A

       

      

      Assignment and Assumption Agreement

       

      Pursuant to the Stockholder’s Agreement, dated as of [●], 2022 (the “Stockholder’s Agreement”), by and among Excelerate Energy, Inc., a Delaware corporation, Excelerate Energy Limited
        Partnership, a Delaware limited partnership, and Excelerate Energy Holdings, LLC, a Delaware limited liability company, _________ (the “Transferor”) hereby assigns to the undersigned the rights that may be assigned thereunder, and the
        undersigned hereby agrees to assume the obligations of the Transferor under the Stockholder’s Agreement. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Stockholder’s Agreement.

       

      Listed below is information regarding the Common Stock:

       

      

      	 	
              Number of Shares of

            	 
	 	
              Class A Common Stock

            	 
	 	 	 
	 	
              __________________

            	 
	 	 	 
	 	
              Number of Shares of

            	 
	 	
              Class B Common Stock

            	 
	 	 	 
	 	
              __________________

            	 

       

      [Signature page follows.]

       

      

      
        
          

      

      IN WITNESS WHEREOF, the undersigned has executed this Assumption Agreement as of __________ ___, ________.

       

      

      	 	
              [NAME OF TRANSFEROR]

            
	 	 
	 	
              Name:

            
	 	
              Title:

            
	 	
              [NAME OF TRANSFEREE]

            
	 	 
	 	
              Name:

            
	 	
              Title:

            

       

      Acknowledged by:

      	
              EXCELERATE ENERGY, INC.

            
	 	 
	
              By:

            	 	 
	 	 Name:	
              

              

            
	 	 Title:	
              

              

            

       

        Signature Page to Assignment and Assumption Agreement

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