Document:

Exhibit

Execution Version

CONTRIBUTION AGREEMENT
THIS CONTRIBUTION AGREEMENT (“Agreement”) is dated as of July 14, 2017, by and between CLEAN ENERGY, a California corporation (“Member”), and NG ADVANTAGE LLC, a Delaware limited liability company (“Company”).
WHEREAS, Company desires to receive from Member and Member desires to contribute to Company, subject to the terms and conditions contained in this Agreement, certain real property, improvements, appurtenances, and personal property owned by Member.
WHEREAS, concurrently with the execution of this Agreement, Company and Member will enter into a certain Series A Preferred Unit Issuance Agreement (the “Unit Issuance Agreement”) pursuant to which Company will issue to Member Series A preferred units (“Units”) of Company having a face value equal to the Contribution Value (as defined herein).
IN CONSIDERATION of the respective agreements hereinafter set forth, Member and Company agree as follows:
1.Property Included in Transfer.  Member hereby agrees to contribute and convey to Company, and Company hereby agrees to receive from Member, subject to the terms and conditions set forth herein, the following:
(a)    that certain real property consisting of approximately 6.30 acres, more or less, located in the Town of Milton, Vermont, and being more particularly described in Exhibit A attached hereto (the “Real Property”);
(b)    all rights, privileges and easements appurtenant to the Real Property, including, without limitation, all minerals, oil, gas and other hydrocarbon substances on and under the Real Property , as well as all development rights, air rights, water, water rights, riparian rights and water stock relating to the Real Property and any rights-of-way or other appurtenances used in connection with the beneficial use and enjoyment of the Real Property and all of Member’s right, title and interest in and to all roads and alleys adjoining or servicing the Real Property (collectively, the “Appurtenances”);
(c)    all of Member’s right, title and interest in and to all improvements and fixtures located on the Real Property, all apparatus, equipment and appliances used in connection with the operation or occupancy of the Real Property, including all pipes, pipelines, compressors, dispensers, dryers, chillers, systems, facilities and equipment used in connection with the operation of a compressed natural gas distribution facility and fueling station on the Real Property (collectively, the “Improvements”);
(d)    all personal property owned by Member located on or in the Real Property and Improvements as of the Closing Date (as defined in Paragraph 4 below) including, without limitation, those items described in Exhibit B attached hereto (the “Personal Property”); and 

1
ID #1882

Execution Version

(e)    subject to Member’s rights with respect to the Reserved Property, any warranties, guarantees or sureties relating to the Real Property or the Personal Property (collectively, the “Intangible Property”).
All of the items referred to in subparagraphs (a), (b), (c), (d) and (e) above are collectively referred to as the “Property.”
Notwithstanding anything to the contrary set forth in this Agreement, the Property being conveyed pursuant to this Agreement does not include (and Member expressly reserves all rights with respect thereto) (collectively, the “Excluded Property”) any existing claims or causes of action with respect to the Property to the extent attributable to the period prior to the Closing Date.  
EXCEPT AS EXPLICITY SET FORTH HEREIN, MEMBER MAKES NO WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER.  COMPANY ACKNOWLEDGES AND AGREES THAT IT IS RECEIVING THE REAL AND PERSONAL PROPERTY “AS-IS WHERE-IS” WITHOUT REPRESENTATION, WARRANTY OR COVENANT (EXPRESS OR IMPLIED) BY MEMBER, EXCEPT AS EXPRESSLY SET FORTH HEREIN, AND IN EACH CASE SUBJECT TO ANY STATE OF FACTS REGARDING ITS PHYSICAL CONDITION.  MEMBER HAS NOT MADE AND SHALL NOT BE DEEMED TO HAVE MADE ANY REPRESENTATION, WARRANTY OR COVENANT (EXPRESS OR IMPLIED) NOR SHALL BE DEEMED TO HAVE ANY LIABILITY WHATSOEVER AS TO THE TITLE, VALUE, HABITABILITY, USE, CONDITION, DESIGN, COMPLIANCE WITH SPECIFICATIONS, QUALITY, OPERATION, MERCHANTABILITY OR FITNESS FOR USE OF THE PROPERTY (OR ANY PART THEREOF), OR AS TO THE ABSENCE OF LATENT OR OTHER DEFECTS (WHETHER OR NOT DISCOVERABLE), OR AS TO THE LACK OF INFRINGEMENT ON ANY PATENT, TRADEMARK OR COPYRIGHT, THE CONFORMITY OF THE PROPERTY TO THE DESCRIPTION THEREOF IN THIS AGREEMENT, OR ANY OTHER REPRESENTATION, WARRANTY OR COVENANT WHATSOEVER, EXPRESS OR IMPLIED WITH RESPECT TO THE PROPERTY (OR ANY PART THEREOF), AND MEMBER SHALL NOT BE LIABLE FOR ANY LATENT, HIDDEN, OR PATENT DEFECT THEREON OR THE FAILURE OF THE PROPERTY, OR ANY PART THEREOF, TO COMPLY WITH ANY LAW.  MEMBER SHALL NOT BE DEEMED TO HAVE MADE, BE BOUND BY OR LIABLE FOR, ANY REPRESENTATION, WARRANTY OR PROMISE MADE BY THE SUPPLIER, MANUFACTURER, DISTRIBUTOR OR OTHER MEMBER (OR ANY TRANSFER REPRESENTATIVE OR AGENT THEREOF) OF ANY PORTION OF THE PROPERTY.  IN NO EVENT SHALL MEMBER BE LIABLE FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES.  COMPANY EXPRESSLY ASSUMES THE RISK THAT ADVERSE PHYSICAL, ENVIRONMENTAL, FINANCIAL AND LEGAL CONDITIONS MAY NOT BE REVEALED BY COMPANY’S INSPECTION OF THE PROPERTY.  WITHOUT LIMITING THE SCOPE OR GENERALITY OF THE FOREGOING, COMPANY EXPRESSLY ASSUMES THE RISK THAT THE PROPERTY DOES NOT OR WILL 

2
ID #1882

Execution Version

NOT COMPLY WITH ANY ENVIRONMENTAL REQUIREMENTS OR OTHER LAWS NOW OR HEREAFTER IN EFFECT. The provisions of this paragraph have been negotiated by Member and Company after due consideration for the Contribution Value, and are intended to be a complete exclusion and negation of any representations or warranties of Member, express or implied, with respect to the Property that may arise pursuant to any law now or hereafter in effect, or otherwise.  As such, this subsection shall survive the Closing.
2.    Contribution Value.
(a)    The contribution value of the Property is Seven Million Seven Hundred Fifty Thousand Dollars ($7,514,297.00) (the “Contribution Value”). The Contribution Value shall be paid by Company to Member through the issuance of the Units pursuant to the Unit Issuance Agreement upon the closing of the contribution contemplated hereunder (the “Closing”).  For purposes of determining the transfer taxes, real property transfer taxes, and real property taxes, as may be applicable, Member and Company anticipate that the Contribution Value shall be allocated among the components of the Property as follows:
	
				
	CONTRIBUTION VALUE ALLOCATION

	Personal Property Subtotal
	

	$3,914,297
	

	Real Property, Building & Improvements
	

	$3,600,000
	

	Total:
	

	$7,514,297
	

Promptly following the Closing, Member and Company will mutually agree to any necessary changes to the Contribution Value allocation set forth above.  The allocation described in this Subparagraph 2(a) shall be conclusive and binding upon Company and Member.  
3.    Title to the Property.
(a)    At the Closing, Member shall convey to Company marketable and insurable fee simple title to the Real Property, the Appurtenances and the Improvements, by a duly executed and acknowledged warranty deed substantially in the form attached hereto as Exhibit C (the “Deed”).      
(b)    At the Closing, Member shall transfer title to the Personal Property by a bill of transfer in the form attached hereto as Exhibit D (the “Bill of Transfer”), such title to be free of any liens, encumbrances or interests.
(c)    At the Closing, Member shall transfer title to the Intangible Property by such instruments as Company may determine to be reasonably necessary, including, without limitation, an assignment of Intangible Property in the form attached hereto as Exhibit E (the “Assignment of Intangible Property”).

3
ID #1882

Execution Version

4.    Closing and Escrow.
(a)    Upon mutual execution of this Agreement, the parties hereto shall deposit an executed counterpart of this Agreement with Member’s local counsel, Robert H. Rushford of Gravel & Shea PC (“Escrow Agent”), and this Agreement shall serve as instructions to Robert H. Rushford as the escrow holder for consummation of the contribution contemplated hereby substantially concurrently with the execution and delivery of this Agreement.  Member and Company agree to execute such additional escrow instructions as may be appropriate to enable the escrow holder to comply with the terms of this Agreement; provided, however, that in the event of any conflict between the provisions of this Agreement and any supplementary escrow instructions, the terms of this Agreement shall control.
(b)    The parties shall endeavor to conduct an escrow closing pursuant to Subparagraph 4(a) above.  If, however, an escrow Closing is not practical, the Closing hereunder shall be held and delivery of all items to be made at the Closing shall be made at the offices of Member in Newport Beach, California.  The Closing shall occur substantially concurrently with the execution and delivery of this Agreement, and not later than June 30, 2017, time being of the essence (date on which the Closing occurs is referred to herein as the “Closing Date”).
(c)    At or before the Closing, Member shall deliver to Company or the Escrow Agent, as appropriate, the following:
(i)    a duly executed and acknowledged Deed;
(ii)    a duly executed Bill of Transfer; 
(iii)    a duly executed Assignment of Intangible Property;
(iv)    closing statement in form and content satisfactory to Company and Member; 
(v)    a duly executed Unit Issuance Agreement; and
(vi)    any other instruments, records or correspondence called for hereunder which have not previously been delivered.
Company may waive compliance on Member’s part under any of the foregoing items by an instrument in writing.
(d)    At or before the Closing, Company shall deliver to Member or the Escrow Agent, as appropriate, the following:
(i)    a duly executed Assignment of Intangible Property; 
(ii)    a duly executed Contract Assignment; 
(iii)    a duly executed Unit Issuance Agreement; and

4
ID #1882

Execution Version

(iv)    a closing statement in form and content satisfactory to Company and Member.
(e)    Company shall be responsible for the following:
(i)    Utility Charges.  Company shall be responsible for the payment of all utility charges and other operating expenses relating to the Property with respect to any period.
(ii)    Real Estate Taxes and Special Assessments.  Company shall be responsible for the payment of all real property taxes and other assessments relating to the Property with respect to any period.    
(iii)    Survival.  The provisions of this Subparagraph 4(e) shall survive the Closing. 
(f)    Closing Costs.  Company shall pay one hundred percent (100%) of: 
(i)    the fees and disbursements of Gravel & Shea PC;
(ii)    the cost of any transfer taxes or documentary stamp taxes applicable to the transfer, the cost of recording all documents to remove encumbrances or defects in title to the Property, if any; 
(iii)    the escrow fees;
(iv)    the premium for any title policy relating to the Property;
(v)    any transfer taxes;
(vi)    recording the Deed; and
(vii)    all other costs and charges of the escrow for the transfer not otherwise provided for in this Subparagraph 4(f) or elsewhere in this Agreement.  
(g)     Bulk Transfers.  The parties waive compliance with the applicable provisions of the bulk transfer law of the State of Vermont in connection with the transfer of the Property to Company.  

5
ID #1882

Execution Version

5.    Representations and Warranties of Member.  Member hereby represents and warrants to Company as follows:  Member is a corporation, duly organized and validly existing under the laws of the State of California; this Agreement and all documents executed by Member which are to be delivered to Company at the Closing are and at the time of Closing will be duly authorized, executed and delivered by Member, are and at the time of Closing will be legal, valid and binding obligations of Member enforceable against Member in accordance with their respective terms, are and at the time of Closing will be sufficient to convey title (if they purport to do so), and do not and at the time of Closing will not violate any provision of any agreement or judicial order to which Member or the Property is subject.  
6.    Representations and Warranties of Company.  Company hereby represents and warrants to Member as follows:  Company is a limited liability company, duly organized and validly existing under the laws of the State of Delaware; this Agreement and all documents executed by Company which are to be delivered to Member at the Closing are or at the time of Closing will be duly authorized, executed and delivered by Company, and are or at the Closing will be legal, valid and binding obligations of Company, and do not and at the time of Closing will not violate any provisions of any agreement or judicial order to which Company is subject.
7.    Indemnification.
(a)    Each party hereby agrees to indemnify the other party and defend and hold it harmless from and against any and all claims, demands, liabilities, costs, expenses, penalties, damages and losses, including, without limitation, attorneys’ fees, resulting from any misrepresentation or breach of warranty or breach of covenant made by such party in this Agreement or in any document, certificate, or exhibit given or delivered to the other pursuant to or in connection with this Agreement.
(b)    Upon demand by any party entitled to indemnification hereunder, the indemnifying party shall diligently defend the claim for which indemnification has been asserted, all at the indemnifying party’s sole cost and expense and by counsel to be approved by the party entitled to indemnification in the exercise of its reasonable judgment.  In the alternative, at any time any party entitled to indemnification may elect to conduct its own defense through counsel selected by such party and at the cost and expense of the indemnifying party. 
(c)    The indemnification provisions of this Section 7 shall survive beyond the Closing, or, if the Closing does not occur pursuant to this Agreement, beyond any termination of this Agreement.
8.    Possession.  Possession of the Property shall be delivered to Company on the Closing Date.
9.    Operation and Maintenance of the Property following the Closing Date.  Subject to the last sentence of this Section 9, from and after the Closing Date, Company shall be solely responsible for (and shall bear all capital expenses and other costs relating to) (i) the operation, maintenance, upgrade, expansion and upkeep (including without limitation trash collection, pavement, curb and gutter repairs, landscaping, utilities and telephone) of the Property and (ii) 

6
ID #1882

Execution Version

ensuring that the Property (and the use and operation thereof) complies in all respects with all applicable building codes, environmental, zoning and land use laws, and other applicable local, state and federal laws and regulations (collectively, “Laws”).  Further, from the Closing Date, Company maintain canopy signage at the Property consistent with that in place on the Closing Date.  Notwithstanding any other provision of this Agreement, if Member determines, in its sole and absolute discretion, that it is not permitted to consolidate the financial results of Company, then Member will have the right to maintain the equipment used to compress and dispense natural gas at the Property.  In the event Member exercises the right set forth in the foregoing sentence, the Company shall pay Member an amount for maintaining such equipment that allows Member to cover its commercially reasonable costs and receive a commercially reasonable margin for such services.               
10.    Vehicle Fuel Dispenser.  Company grants Member the sole and exclusive right to market and sell compressed natural gas (“CNG”) as a vehicle fuel at the Property for a period of ten (10) years following the Closing Date (the “Vehicle Fuel Term”). Subject to Company’s consent (which shall not be unreasonably withheld, conditioned or delayed), Member may construct one or more CNG dispenser(s) at the Property for the purpose of Member marketing and selling CNG as a vehicle fuel (the “Vehicle Fuel Dispenser”); provided that Member shall be under no obligation to construct any Vehicle Fuel Dispenser.  Member shall, during the Vehicle Fuel Term, be responsible for providing operation and maintenance services for the Vehicle Fuel Dispenser.  Company shall procure natural gas for the entirety of the Property and, with respect to the Vehicle Fuel Dispenser only, the natural gas shall be contributed by Member from Company, title to the CNG shall transfer to Member and Member shall be solely responsible for the transfer of the CNG to vehicle fuel users.  Member shall be responsible for all applicable excise, transfers and use taxes related to contributions of CNG from the Vehicle Fuel Dispenser, except in the event a vehicle fuel contributor qualifies for an exemption from one or all of these taxes and furnishes to Member an appropriate certification authorizing non-payment of the applicable tax or taxes.  Member shall retain the rights to: (i) any federal or state tax credits associated with the collection, production, transfer or use of CNG from the Vehicle Fuel Dispenser; (b) any emission reduction credits required or available with respect to the transfer or use of CNG from the Vehicle Fuel Dispenser; and (c) any credits or payments associated with the reduction in or avoidance of Greenhouse Gas emissions with respect to the transfer or use of the CNG from the Vehicle Fuel Dispenser, including emission reduction credits, low-carbon fuel standard credits, any renewable fuel incentives, including but not limited to Renewable Identification Numbers (as defined in 40 CFR §80.1401 and also referred to as “RINs”) generated under the Renewable Fuel Standard, verified emission reductions, voluntary emission reductions, offsets, allowances, voluntary carbon units, avoided compliance costs, emission rights and authorizations and CO2 reduction and sequestration.  For purposes hereof “Greenhouse Gas” means carbon dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydroflourocarbons, perflourocarbons, sulpher hexafluoride, or any other substance or combination of substances that may become regulated or designated as Greenhouse Gases under any federal, state or local law or regulation, or any emission reduction registry, trading system, or reporting or reduction program for Greenhouse Gas emission reductions that is established, certified, maintained or recognized by any international, governmental (including U.N., federal, state or local agencies) or non-governmental agency from time to time.  Without limiting the 

7
ID #1882

Execution Version

foregoing, subject to the availability of the alternative fuel credit allowable under the Internal Revenue Code (“Code”) Section 6426 and 6427, Member shall during the Vehicle Fuel Term be considered the Alternative Fueler as defined in Proposed Treasury Regulation Section 48.6426-1 for all the CNG sold from the Vehicle Fuel Dispenser and be entitled to claim and retain one hundred percent (100%) of the credit provided for in Code Section 6426(e)(1) for each Gasoline Gallon Equivalent (as hereinafter defined) of CNG dispensed from the Vehicle Fuel Dispenser.  For purposes of this Agreement, “Gasoline Gallon Equivalent” of CNG means 5.66 pounds of CNG, or such other number or units of measure as may now or in the future be prescribed by the federal government of the United States (also referred to as a “GGE”).  Member shall, within fifteen (15) days following the end of each calendar month during the Vehicle Fuel Term, provide to Company a report of the volume of CNG dispensed through the Vehicle Fuel Dispenser during the preceding month.      
11.    Member Fee.  Beginning on the Closing Date and through and including December 31, 2024, Company shall pay Member a “Member Fee” equal to $0.08 per thousand cubic feet (or “MCF”) of natural gas dispensed by, through or at the Property; provided that the Member Fee shall not apply to natural gas dispensed to vehicles through the Vehicle Fuel Dispenser.  Company shall make payments to Member as required by this Section 11 on a monthly basis in arrears within thirty (30) days following the end of each calendar month for which the Member Fee is payable.  Along with payment of the Member Fee, Company will provide evidence reasonably satisfactory to Member of the volume of natural gas dispensed by, through or at the Property for the applicable month.  
12.    Company Royalty.  During the Vehicle Fuel Term, Member shall pay Company a “Company Royalty” calculated on a per GGE basis as follows: Company’s per GGE cost of natural gas and electricity sold to Member with respect to the Vehicle Fuel Dispenser plus $0.15 per GGE.  Company shall, within fifteen (15) days following the end of each calendar month during the Vehicle Fuel Term, provide to Member evidence reasonably satisfactory to Member of Company’s per GGE cost of natural gas and electricity sold to Member with respect to the Vehicle Fuel Dispenser during the preceding month.  Provided that Company has provided the evidence as required by the previous sentence, Member shall make payments to Company as required by this Section 12 on a monthly basis in arrears within thirty (30) days following the end of each calendar month for which the Company Fee is payable.  
13.    Cooperation.  Member and Company shall cooperate and do all acts as may be reasonably required or requested by the other with regard to the consummation of the transactions contemplated hereby including execution of any documents, applications or permits.  
14.    Right of First Refusal.  From and after the date hereof, Member shall have a right of first refusal to acquire the Property on the terms set forth in this Section 14, and Company shall not consummate the transfer or other disposition or conveyance of all or part of Company’s interest in the Property to any unaffiliated third party, until and unless Company shall have obtained a bona fide offer therefor (the “Offer”), delivered written notice to Member, which notice shall contain the name of the offeror, the address of the offeror, and a true and accurate copy of the Offer, and shall include an offer to sell, transfer or otherwise dispose of such interest 

8
ID #1882

Execution Version

to Member for a price equal to 100% of the gross transfer price contained in the Offer and on all of the terms applicable to the Offer (such price and terms, “Company’s Offer”).  If Member shall either deliver written notice of rejection of the Company’s Offer to Company or fail to deliver written notice of acceptance of the Company’s Offer within fifteen (15) days after the date of receipt of Company’s notice, Member’s right of first refusal hereunder shall conclusively be deemed to be waived with respect to any  transfer or other disposition of the Property (or applicable portion thereof to which the Offer applied) consummated during the period of ninety (90) days thereafter, provided that the gross transfer price in connection with such transfer is not less than the gross transfer price contained in the Offer as disclosed in writing to Member.  Provided that the gross transfer price in connection with such transfer is equal to or greater than the price contained in the Offer as disclosed in writing to Member, Company shall be free to sell, transfer and dispose of the Property or applicable portion thereof during such ninety (90) day period to any person and on any terms whatsoever, and if Company consummates such a  transfer or disposition within such ninety (90) day period, the contributor or transferee shall acquire the Property or applicable portion thereof free and clear of the Member’s right of first refusal set forth in this Section 14 (which shall be extinguished, null, void and of no further force or effect upon such  transfer or disposition with respect to the Property or applicable portion thereof so disposed of).  If, however, Company does not consummate any such transfer or other disposition of the Property (or applicable portion thereof to which the Offer applied) within such ninety (90) day period, then Member’s right of first refusal provided for in this Section 14 shall once again apply, and if Company proposes to consummate any such  transfer or other disposition of the Property (or applicable portion thereof to which the Offer applied) within such ninety (90) day period pursuant to a new Offer under which the gross transfer price is less than the gross transfer price contained in the initial Offer as disclosed in writing to Member, then Company shall not consummate such  transfer or other disposition of the Property (or applicable portion thereof to which the Offer applied) without first giving a notice of such new Offer to Member in compliance with the terms of this Section 14.  Notwithstanding anything to the contrary contained in the Offer, the closing for the conveyance of the Property or applicable portion thereof to Member shall occur on the date (the “Company’s Offer Closing Date”) selected by Company upon not less than ten (10) days written notice to Member, provided that the Company’s Offer Closing Date shall not be later than the sixtieth (60th) day following the date Member’s notice of acceptance of the Offer was received by Company.  The closing shall be held at the offices of Company’s local counsel in Vermont, or at such other location as the parties shall agree.  
15.    Miscellaneous.
(a)    Lease Termination.  Member and Company agree that, on the Closing Date, (i) the Lease Agreement dated October 14, 2014 by and between Member and Company (the “Lease Agreement”) shall terminate and be of no further force or effect and (ii) Company shall pay all outstanding amounts, if any, owed to Member pursuant to the Lease Agreement.  Notwithstanding the foregoing, Sections 6.1, 6.2, 6.3, 8.5 and 8.6 shall survive termination of the Lease Agreement.  

9
ID #1882

Execution Version

(b)    Allocation of Contribution Value.  If necessary, Company and Member each agree to file an IRS Form 8594 in compliance with Section 1060 of the Code, as amended, and applicable regulations.  The filings shall be made on a consistent basis and in accordance with the allocations in Subparagraph 2(a) of this Agreement.
(c)    Notices.  Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by United Parcel Service or another reputable commercial overnight courier that guarantees next day delivery and provides a receipt, or (d) by email, and such notices shall be addressed as follows: 
If to Company:    NG Advantage LLC 
480 Hercules Drive 
Colchester, VT 05446 
Attention:  Rico Biasetti 
Email:  rbiasetti@ngadvantage.com 

If to Member:     Clean Energy 
4675 MacArthur Court, Suite 800 
Newport Beach, CA 92660 
Attention: Nate Jensen, Vice President & General Counsel 
Email:  njensen@cleanenergyfuels.com

If to Escrow Agent:    Robert H. Rushford
Gravel & Shea PC
76 St. Paul Street, 7th Floor
P.O. Box 369
Burlington, VT 05402
Email: rrushford@gravelshea.com

or to such other address as either party may from time to time specify in writing to the other party.  Any notice sent by certified mail, return receipt requested, shall be deemed given on the date of delivery shown on the receipt card, or if no delivery date is shown, the postmark thereon.  Notices delivered by United Parcel Service or an overnight courier that guarantees next day delivery shall be deemed given 24 hours after delivery of the same to United Parcel Service or courier.  If any notice is transmitted by email, the notice shall be deemed received on the date of transmission, provided that the sender obtains evidence of transmission acceptance or verification and, if the transmission occurs after 5:00 p.m. (at the destination), then on the next business day.  If notice is received on a Saturday, Sunday, or legal holiday, it shall be deemed received on the next business day.

10
ID #1882

Execution Version

(d)    Successors and Assigns.  This Agreement shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors, heirs, administrators and assigns.  
(e)    Amendments.  Except as otherwise provided herein, this Agreement may be amended or modified only by a written instrument executed by Member and Company.
(f)    Deadlines on Non-Business Days.  In the event any deadline specified herein falls on a day which is not a regular business day, then the deadline shall be extended to the end of the next following regular business day.
(g)    Governing Law.  This Agreement shall be governed by, construed in accordance with, and enforced pursuant to the laws of the State of Vermont.
(h)    Merger of Prior Agreements.  This Agreement and the exhibits hereto constitute the entire agreement between the parties and supersede all prior agreements and understandings between the parties relating to the subject matter hereof.
(i)    Enforcement.  If either party hereto fails to perform any of its obligations under this Agreement or if a dispute arises between the parties hereto concerning the meaning or interpretation of any provision of this Agreement, then the defaulting party or the party not prevailing in such dispute shall pay any and all costs and expenses incurred by the other party on account of such default and/or in enforcing or establishing its rights hereunder, including, without limitation, court costs and attorneys’ fees and disbursements.  Any such attorneys’ fees and other expenses incurred by either party in enforcing a judgment in its favor under this Agreement shall be recoverable separately from and in addition to any other amount included in such judgment, and such attorneys’ fees obligation is intended to be severable from the other provisions of this Agreement and to survive and not be merged into any such judgment.  The parties hereto agree that any litigation filed to enforce or interpret this Agreement shall be filed in the County of Chittenden, State of Vermont.
(j)    Time of the Essence.  Time is of the essence of this Agreement.
(k)    Severability.  If any provision of this Agreement, or the application thereof to any person, place, or circumstance, shall be held by a court of competent jurisdiction to be invalid, unenforceable or void, the remainder of this Agreement and such provisions as applied to other persons, places and circumstances shall remain in full force and effect.
(l)    Effective Date.  As used herein, the term “Effective Date” shall mean the first date on which both Member and Company shall have executed this Agreement.
(m)    Counterparts.  This Agreement may be signed in counterparts and all counterparts so executed shall constitute one contract, binding on all parties hereto, even though all parties are not signatory to the same counterpart.

11
ID #1882

Execution Version

[Remainder of Page Intentionally Blank]

12
ID #1882

Execution Version

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the dates set forth below.
		
	MEMBER:
	CLEAN ENERGY,  
a California corporation  

Date:    July 14, 2017        By:        
Name:        
Title:        

COMPANY:    NG ADVANTAGE LLC,  
a Delaware limited liability company 

Date:    July 14, 2017        By:        
Name:        
Title:        

LIST OF EXHIBITS AND SCHEDULES
		
	Exhibit A
	—    Description of Real Property 

		
	Exhibit B
	—    Description of Personal Property 

		
	Exhibit C
	—    Warranty Deed

		
	Exhibit D
	—    Warranty Bill of Transfer 

		
	Exhibit E
	—    Assignment of Intangible Property

EXHIBIT A 
 
REAL PROPERTY
A parcel of land with all improvements thereon, located easterly and southerly of Gonyeau Road and being all and the same lands and premises conveyed to NG Advantage LLC by Warranty Deed of the Greater Burlington Industrial Corporation dated September 26, 2012 and recorded in Volume 425, Page 208 of the Town of Milton Land Records and being more particularly described therein as follows:

Being a portion of the lands and premises conveyed to Greater Burlington
Industrial Corporation by Warranty Deed of Catamount Stadium, Inc., dated
October 17, 1983 and recorded in Volume 82, Page 233 of the Milton Land
Records, and being more particularly described as follows:

All of Lot 6 as depicted on a plan entitled “Catamount Industrial Park, Route 7,
Milton, Vermont,” dated April 22, 1983, last revised September 15, 2008,
prepared by Trudell Consulting Engineers, Inc. and recorded in Map Slide 271C
(the “Plan”) of the Town of Milton Land Records (the “Land Records”).

Reference is hereby made to the above-mentioned instruments, the records thereof and the references therein contained in further aid of this description. 

ANGI:

EXHIBIT C 
 
WARRANTY DEED

EXHIBIT D 
 
BILL OF TRANSFER
For good and valuable consideration the receipt of which is hereby acknowledged, Clean Energy, a California corporation (“Member”), does hereby sell, transfer, and convey to NG Advantage LLC, a Delaware limited liability company (“Company”), all Personal Property, other than the Excluded Property, owned by Member and located on or in or used in connection with the Real Property and Improvements (as such terms are defined in that certain Contribution Agreement dated as of July 14, 2017, between Member and Company (or Company’s predecessor in interest), including, without limitation, those items described in Schedule A attached hereto subject to Member’s rights with respect to the Reserved Property.  Capitalized terms used but not defined herein have the meanings set forth in said Contribution Agreement.
Member does hereby represent to Company that Member is the lawful owner of such Personal Property, that such Personal Property is free and clear of all encumbrances, and that Member has good right to sell the same as aforesaid and will warrant and defend the title thereto unto Company, its successors and assigns, against the claims and demands of all persons whomsoever.
DATED this 14th day of July, 2017.

MEMBER:    CLEAN ENERGY,  
a California corporation

By:        
Name:        
Title:        
Schedule A to 
Bill of Transfer

	
		
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

	 
	 

EXHIBIT E 
 
ASSIGNMENT OF INTANGIBLE PROPERTY
THIS ASSIGNMENT (“Assignment”) is made and entered into as of this 14th day of July, 2017, by Clean Energy, a California corporation (“Assignor”), to NG Advantage LLC, a Delaware limited liability company (“Assignee”).
FOR GOOD AND VALUABLE CONSIDERATION, the receipt of which is hereby acknowledged, effective as of the Effective Date (as defined below), Assignor hereby assigns and transfers unto Assignee all of its right, title, claim and interest in and under any Intangible Property (as defined in that certain Contribution Agreement dated as of July 14, 2017, between Assignor and Assignee (or Assignee’s predecessor in interest) (the “Contribution Agreement”).  
Capitalized terms used but not defined herein have the meanings set forth in said Contribution Agreement.
ASSIGNOR AND ASSIGNEE FURTHER HEREBY AGREE AND COVENANT AS FOLLOWS: 

1.    If either party hereto fails to perform any of its obligations under this Assignment or if a dispute arises between the parties hereto concerning the meaning or interpretation of any provision of this Assignment, then the defaulting party or the party not prevailing in such dispute shall pay any and all costs and expenses incurred by the other party on account of such default and/or in enforcing or establishing its rights hereunder, including, without limitation, court costs and attorneys’ fees and disbursements.  Any such attorneys’ fees and other expenses incurred by either party in enforcing a judgment in its favor under this Assignment shall be recoverable separately from and in addition to any other amount included in such judgment, and such attorneys’ fees obligation is intended to be severable from the other provisions of this Assignment and to survive and not be merged into any such judgment.
2.    This Assignment shall be binding on and inure to the benefit of the parties hereto, their heirs, executors, administrators, successors in interest and assigns.
3.    This Assignment shall be governed by and construed and in accordance with the laws of the State of Vermont.
4.    For purposes of this Assignment, the “Effective Date” shall be the date of the Closing (as defined in the Contribution Agreement).

IN WITNESS WHEREOF, Assignor and Assignee have executed this Assignment the day and year first above written.
		
	ASSIGNEE:
	NG ADVANTAGE LLC,  
a Delaware limited liability company

By:        
Name:    Rico Biasetti    
Title:    CEO    
		
	ASSIGNOR:
	CLEAN ENERGY,  
a California corporation

By:        
Name:        
Title:        

    
Exhibit A to
Assignment of 
Intangible Property

REAL PROPERTY

A parcel of land with all improvements thereon, located easterly and southerly of
Gonyeau Road and being all and the same lands and premises conveyed to NG
Advantage LLC by Warranty Deed of the Greater Burlington Industrial Corporation
dated September 26, 2012 and recorded in Volume 425, Page 208 of the Town of Milton
Land Records and being more particularly described therein as follows:

Being a portion of the lands and premises conveyed to Greater Burlington
Industrial Corporation by Warranty Deed of Catamount Stadium, Inc., dated
October 17, 1983 and recorded in Volume 82, Page 233 of the Milton Land
Records, and being more particularly described as follows:

All of Lot 6 as depicted on a plan entitled “Catamount Industrial Park, Route 7,
Milton, Vermont,” dated April 22, 1983, last revised September 15, 2008,
prepared by Trudell Consulting Engineers, Inc. and recorded in Map Slide 271C
(the “Plan”) of the Town of Milton Land Records (the “Land Records”).

Reference is hereby made to the above-mentioned instruments, the records thereof and the
references therein contained in further aid of this description.

13
ID #1882Exhibit

Execution Version

NG ADVANTAGE LLC
SERIES A PREFERRED UNITS ISSUANCE AGREEMENT
This Series A Preferred Units Issuance Agreement (this “Agreement”) is dated as of July 14, 2017, by and between NG Advantage LLC, a Delaware limited liability company (the “Company”), and Clean Energy, a California corporation (“Clean Energy”). The Company and Clean Energy hereby agree as follows:
SECTION 1 
AUTHORIZATION AND ISSUANCE
		
	a.
	Authorization.

The Company will, prior to the Closing (as defined below), authorize the issuance of such number of the Company’s Preferred Units (as defined in the Operating Agreement (as defined below)) as have a value of Seven Million Five Hundred Fourteen Thousand Two Hundred Ninety Seven Dollars ($7,514,297) (the “Series A Units”), which Preferred Units shall have the rights, privileges, preferences and restrictions set forth in the Amended and Restated Limited Liability Company Operating Agreement of the Company, in substantially the form attached hereto as Exhibit A (the “Operating Agreement”).
		
	b.
	Issuance of Series A Units.

Subject to the terms and conditions of this Agreement, the Company shall issue the Series A Units to Clean Energy, in consideration of Clean Energy’s contribution to the Company of the Property (as defined in the Contribution Agreement (as defined below)) pursuant to the terms and conditions of the Contribution Agreement (the “Contribution”). The Contribution shall constitute the full consideration and payment for the issuance of the Series A Units hereunder. As used in this Agreement, the “Contribution Agreement” means the Contribution Agreement of even date herewith between Clean Energy and the Company in substantially the form attached hereto as Exhibit B.
SECTION 2     
CLOSING DATES AND DELIVERY
		
	2.1
	Closing.

The issuance of the Series A Units (the “Closing”) shall take place at the offices of Clean Energy, located at 4675 MacArthur Court, Suite 800, Newport Beach, California 92660, on the Closing Date (as defined in the Contribution Agreement) and substantially concurrently with the closing under the Contribution Agreement.
		
	2.2
	Issuance and Delivery.

1
sd-701304 

Execution Version

At the Closing, the Company shall issue to Clean Energy the Series A Units and shall update the Company’s unit ledger and all other applicable books and records to reflect such issuance. 
SECTION 3     
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
The Company hereby represents and warrants to Clean Energy, as of the date hereof and as of the Closing (except for the representations and warranties that speak as of a specific date, which shall be made as of such date) as follows:
		
	3.1
	Organization, Good Standing and Qualification.

The Company is a limited liability company duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has all requisite limited liability company power and authority to own and operate its properties and assets, to carry on its business as presently conducted and as proposed to be conducted, to execute and deliver this Agreement, to issue the Series A Units and to perform its obligations pursuant to this Agreement and the Operating Agreement. The Company is presently qualified to do business as a foreign corporation in each jurisdiction where the failure to be so qualified could reasonably be expected to have, individually or in the aggregate, a material adverse effect on the Company’s condition, assets, properties, operating results, business or prospects, financially or otherwise, as now conducted and as proposed to be conducted (a “Material Adverse Effect”).
		
	3.2
	Capitalization.

After effectiveness of the Operating Agreement and immediately prior to the Closing, the authorized units representing Membership Rights (as defined in the Operating Agreement) in the Company (such units referred to herein as “membership units”) will consist of 6,215,350 Common Units, of which 4,631,834 Common Units are issued and outstanding, and 492,418 Series A Preferred Units, of which 492,418 Series A Preferred Units are issued and outstanding.
(a)The outstanding Common Units have been duly authorized and validly issued in compliance with applicable laws, are fully paid and nonassessable and were issued in accordance with the registration or qualification provisions of the Securities Act of 1933, as amended (the “Securities Act”), and any relevant state securities laws, or pursuant to valid exemptions therefrom.
(b)    As of the Closing, the Company has reserved:
(i)    the Series A Units for issuance pursuant to this Agreement;
(ii)    239,296 Common Units authorized for issuance to employees, consultants and directors pursuant to the Company’s 2013 Unit Option Plan (the “2013 Plan”), under which options to purchase 239,296 Common Units are outstanding as of the date of this Agreement (the “Outstanding Options”);

2
sd-701304 

Execution Version

(iii)    127,200 Common Units authorized for issuance pursuant to certain warrants to purchase Common Units of the Company that are outstanding as of the date of this Agreement (the “Outstanding Warrants”)[; and
(iv)    715,847 Common Units authorized for issuance upon conversion of the Series A Units pursuant to the terms of the Operating Agreement.
(c)    The Series A Units, when issued and delivered and paid for in compliance with the provisions of this Agreement, will be validly issued, fully paid and nonassessable. The Series A Units will be free of any liens or encumbrances, other than any liens or encumbrances created by Clean Energy.
(d)    Except for the rights provided pursuant to the Operating Agreement or as otherwise described in this Agreement, the outstanding Options and the Outstanding Warrants, there are no options, warrants, other rights (including conversion or preemptive rights) or agreements to purchase any of the Company’s authorized and unissued membership units.
		
	3.3
	Authorization.

All limited liability company action on the part of the Company and its managers, officers and members necessary for the authorization, execution, delivery and performance of this Agreement by the Company, the authorization, issuance and delivery of the Series A Units, and the performance of all of the Company’s obligations under this Agreement, has been taken or will be taken prior to the Closing. This Agreement, when executed and delivered by the Company, shall constitute the valid and binding obligation of the Company, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally and (ii) as limited by rules of law governing specific performance, injunctive relief or other equitable remedies and by general principles of equity.
		
	3.4
	Governmental Consents.

No consent, approval, order or authorization of or registration, qualification, designation, declaration or filing with any court, governmental authority or third party on the part of the Company is required in connection with the valid execution and delivery of this Agreement by the Company, the offer or issuance of the Series A Units, or the performance by the Company of its obligations under this Agreement, except (i) the filing of such notices as may be required under the Securities Act and (ii) such filings as may be required under applicable state securities laws, which will be timely filed within the applicable periods therefor.
		
	3.1
	Offering.

Subject to the accuracy of Clean Energy’s representations and warranties in Section 4, the offer and issuance of the Series A Units in conformity with the terms of this Agreement, constitute transactions exempt from the registration requirements of the Securities Act and will not result in 

3
sd-701304 

Execution Version

a violation of the qualification or registration requirements of applicable state securities laws, and neither the Company nor any authorized agent acting on its behalf will take any action hereafter that would cause the loss of such exemption.
		
	3.2
	Compliance.

The Company is not in violation of its Certificate of Formation as in effect on the date hereof or any term of the Operating Agreement, as amended to date, or, in any material respect, of any term or provision of any mortgage, indebtedness, indenture, contract, agreement, instrument, judgment, order or decree to which it is party or by which it is bound. To the best of the Company’s knowledge, the Company is not in violation of any federal, state or local statute, rule, regulation, order or restriction of any domestic or foreign government or any instrumentality or agency thereof applicable to the Company, the conduct of its business or its properties. The execution and delivery of this Agreement by the Company, the performance by the Company of its obligations pursuant to, and consummation of the transactions contemplated by, this Agreement, and the issuance of the Series A Units, will not (a) result in any violation of, or conflict with, or constitute, with or without the passage of time and giving of notice, a default under, or constitute an event that could entitle any counterparty or other third party to exercise any additional rights under or result in the acceleration of the maturity of any material indebtedness of the Company or the performance of any obligation of the Company under, the Company’s Certificate of Formation or its Operating Agreement or any such mortgage, indebtedness, indenture, contract, agreement, instrument, judgment order or decree, (b) result in the violation of, or conflict with, any federal or state statute, rule or regulation applicable to the Company or its properties, (c) constitute an event that results in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the Company, or (d) constitute an event that results in the suspension, revocation, impairment, forfeiture or nonrenewal of any material franchise, permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets or properties.
		
	3.3
	No “Bad Actor” Disqualification Events.

The Company has exercised reasonable care, in accordance with the rules and guidance of the Securities and Exchange Commission (“SEC”), to determine whether any Covered Person (as defined below) is subject to any of the “bad actor” disqualifications described in Rule 506(d)(1)(i) through (viii) under the Securities Act (“Disqualification Events”). To the Company’s knowledge, no Covered Person is subject to a Disqualification Event, except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has complied, to the extent applicable, with any disclosure obligations under Rule 506(e) under the Securities Act. “Covered Persons” are those persons specified in Rule 506(d)(1) under the Securities Act, including the Company; any predecessor or affiliate of the Company; any director, executive officer, other officer participating in the offering of the Series A Units, general partner or managing member of the Company; any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated on the basis of voting power; any promoter (as defined in Rule 405 under the Securities Act) connected with the Company in any capacity at the time of the issuance of the 

4
sd-701304 

Execution Version

Series A Units; and any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the issuance of the Series A Units (a “Solicitor”), any general partner or managing member of any Solicitor, and any director, executive officer or other officer participating in the offering of any Solicitor or general partner or managing member of any such Solicitor.
		
	3.4
	Disclosure.

The Company has fully provided Clean Energy with all the information necessary for Clean Energy to decide whether to acquire the Series A Units. Neither this Agreement, nor any other statements or certificates made or delivered in connection herewith, contains any untrue statement of a material fact or, to the best of the Company’s knowledge, omits to state a material fact necessary to make the statements herein or therein not misleading, in light of the circumstances in which they were made. 
SECTION 4     
REPRESENTATIONS AND WARRANTIES OF CLEAN ENERGY
Clean Energy hereby represents and warrants to the Company, as of the date hereof and as of the Closing (except for the representations and warranties that speak as of a specific date, which shall be made as of such date) as follows:
		
	4.1
	No Registration.

Clean Energy understands that the offer of the Series A Units has not been, and will not be, registered under the Securities Act by reason of a specific exemption from the registration provisions of the Securities Act, the availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of Clean Energy’s representations as expressed herein or otherwise made pursuant hereto.
		
	4.2
	Investment Intent.

Clean Energy is acquiring the Series A Units for investment for its own account, not as a nominee or agent, and not with the view to, or for resale in connection with, any distribution thereof, and the Clean Energy has no present intention of selling, granting any participation in, or otherwise distributing the same. Clean Energy further represents that it does not have any contract, undertaking, agreement or arrangement with any person or entity to sell, transfer or grant participation to such person or entity or to any third person or entity with respect to any of the Series A Units.
		
	4.3
	Investment Experience.

Clean Energy has substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company and acknowledges that Clean Energy 

5
sd-701304 

Execution Version

can protect its own interests. Clean Energy has such knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of its investment in the Company.
		
	a.
	Speculative Nature of Investment.

Clean Energy understands and acknowledges that the Company has a limited financial and operating history and that an investment in the Company is highly speculative and involves substantial risks. Clean Energy can bear the economic risk of Clean Energy’s investment and is able, without impairing Clean Energy’s financial condition, to hold the Series A Units for an indefinite period of time and to suffer a complete loss of Clean Energy’s investment.
		
	b.
	Accredited Investor.

Clean Energy is an “accredited investor” within the meaning of Rule 501(a) of Regulation D promulgated by the SEC under the Securities Act and shall submit to the Company such further assurances of such status as may be reasonably requested by the Company.
		
	c.
	Rule 144.

Clean Energy acknowledges that the Series A Units must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available. Clean Energy is aware of the provisions of Rule 144 promulgated under the Securities Act which permit resale of securities purchased in a private placement subject to the satisfaction of certain conditions, which may include, among other things, the availability of certain current public information about the Company; the resale occurring not less than a specified period after a party has purchased and paid for the security to be sold; the number of securities being sold during any three-month period not exceeding specified limitations; the sale being effected through a “brokers’ transaction,” a transaction directly with a “market maker” or a “riskless principal transaction” (as those terms are defined in the Securities Act or the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder); and the filing of a Form 144 notice, if applicable. Clean Energy understands that the current public information about the Company referred to above is not now available, and the Company has no present plans to make such information available. Clean Energy acknowledges and understands that the Company may not be satisfying the current public information requirement of Rule 144 at the time Clean Energy wishes to sell the Series A Units, and that, in such event, Clean Energy may be precluded from selling such securities under Rule 144, even if the other applicable requirements of Rule 144 have been satisfied. Clean Energy acknowledges that, in the event the applicable requirements of Rule 144 are not met, registration under the Securities Act or an exemption from registration will be required for any disposition of the Series A Units. Clean Energy understands that, although Rule 144 is not exclusive, the SEC has expressed its opinion that persons proposing to sell restricted securities received in a private offering other than in a registered offering or pursuant to Rule 144 will have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales and that such persons and the brokers who participate in the transactions do so at their own risk.

6
sd-701304 

Execution Version

		
	d.
	No Public Market.

Clean Energy understands and acknowledges that no public market now exists for any of the securities issued by the Company and that the Company has made no assurances that a public market will ever exist for the Company’s securities.
		
	e.
	Authorization.

(a)    Clean Energy has all requisite power and authority to execute and deliver this Agreement and to perform its obligations pursuant to this Agreement. All corporate action on the part of Clean Energy necessary for the authorization, execution, delivery and performance of this Agreement by Clean Energy, and the performance of all of Clean Energy’s obligations under this Agreement, has been taken or will be taken prior to the Closing.
(b)    This Agreement, when executed and delivered by Clean Energy, will constitute the valid and legally binding obligation of Clean Energy, enforceable in accordance with its terms, except: (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, and (ii) as limited by rules of law governing specific performance, injunctive relief or other equitable remedies or by general principles of equity.
(c)    No consent, approval, order or authorization of or registration, qualification, designation, declaration or filing with any court, governmental authority or third party on the part of Clean Energy is required in connection with the valid execution and delivery of this Agreement by Clean Energy or the performance by Clean Energy of its obligations under this Agreement
		
	f.
	Legends.

Clean Energy understands and agrees that the certificates evidencing the Series A Units, or any other securities issued in respect of the Series A Units upon any unit split, unit dividend, recapitalization, merger, consolidation or similar event, shall bear the following legend (in addition to any legend required by this Agreement or under applicable state securities laws):
“THE OFFER AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE, AND SUCH SECURITIES MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SUCH ACT AND/OR APPLICABLE STATE SECURITIES LAWS, UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED, OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.”

7
sd-701304 

Execution Version

SECTION 5     
CONDITIONS TO CLEAN ENERGY’S OBLIGATIONS TO CLOSE
Clean Energy’s obligation to consummate the transactions contemplated by this Agreement is subject to the fulfillment on or before the Closing of each of the following conditions, in each case unless waived by Clean Energy:
		
	5.1
	Representations and Warranties.

The representations and warranties made by the Company in Section 3 shall be true and correct as of the date of the Closing with the same force and effect as though such representations and warranties had been made as of such date.
		
	5.2
	Covenants.

The Company shall have performed or complied with all covenants, agreements and conditions contained in this Agreement to be performed or complied with by the Company on or prior to the Closing.
		
	5.3
	Blue Sky.

The Company shall have obtained all necessary Blue Sky law permits and qualifications, or have the availability of exemptions therefrom, required by any state for the offer and issuance of the Series A Units.
		
	5.4
	Operating Agreement.

The Operating Agreement shall have been duly authorized, executed and delivered by the members holding sufficient membership units to make such agreement effective.
		
	5.5
	Closing Deliverables.

The Company shall have delivered to Clean Energy a certificate of the Secretary of State of the State of Delaware dated as of a date within five days of the date of the Closing, with respect to the good standing of the Company. 
		
	5.6
	Contribution Agreement.

The Company and Clean Energy shall have executed and delivered the Contribution Agreement.
		
	5.7
	Permits, Qualifications and Consents.

All permits, authorizations, approvals or consents of, or filings with or notices  to, any federal, state or local governmental authority or regulatory body of the United States or any other third party that are required in connection with the lawful issuance of the securities pursuant to this Agreement shall be duly obtained or made and shall be effective as of the Closing, except solely 

8
sd-701304 

Execution Version

for those which are to be obtained or made after the Closing, all of which shall be obtained or made by the Company by the applicable deadlines therefor.
		
	5.8
	Proceedings and Documents.

All limited liability company and other proceedings in connection with the transactions contemplated at the Closing and all documents incident thereto shall be reasonably satisfactory in form and substance to Clean Energy and its counsel, and Clean Energy or its counsel shall have received all such counterpart original and certified or other copies of such other documents as any of them may reasonably request.
		
	5.9
	Waiver of Rights.

At or prior to the Closing, the Company and all then-current members of the Company shall have waived any rights of first offer, preemptive rights or any other rights in connection with the issuance of the Series A Units hereunder.
SECTION 6     
CONDITIONS TO COMPANY’S OBLIGATION TO CLOSE
The Company’s obligation to issue the Series A Units at the Closing is subject to the fulfillment on or before the Closing of the following conditions, unless waived by the Company:
		
	6.1
	Representations and Warranties.

The representations and warranties made by Clean Energy in Section 4 shall be true and correct when made and shall be true and correct as of the date of the Closing with the same force and effect as though such representations and warranties had been made as of such date.
		
	6.2
	Covenants.

Clean Energy shall have performed or complied with all covenants, agreements and conditions contained in this Agreement to be performed or complied with by Clean Energy on or prior to the date of the Closing.
SECTION 7     
MISCELLANEOUS    
		
	7.1
	Amendment.

Except as expressly provided herein, neither this Agreement nor any term hereof may be amended or waived other than by a written instrument signed by the Company and Clean Energy. 

9
sd-701304 

Execution Version

		
	7.2
	Notices.

All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by electronic mail or otherwise delivered by hand, messenger or courier service addressed:
(a)    if to Clean Energy, to the attention of the General Counsel of Clean Energy at 4675 MacArthur Court, Suite 800, Newport Beach, California 92660, or at njensen@cleanenergyfuels.com (email address);
(b)    if to the Company, to the attention of the Chief Executive Officer of the Company at 480 Hercules Drive, Colchester, Vermont 05446, or at rbiasetti@ngadvantage.com (email address).
Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given (i) if delivered by hand, messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying next-business-day delivery, one business day after deposit with the courier), or (ii) if sent via mail, at the earlier of its receipt or five days after the same has been deposited in a regularly-maintained receptacle for the deposit of the United States mail, addressed and mailed as aforesaid, or (iii) if sent via electronic mail, when directed to the relevant electronic mail address, if sent during normal business hours of the recipient, or if not sent during normal business hours of the recipient, then on the recipient’s next business day.
		
	7.3
	Governing Law.

This Agreement shall be governed in all respects by the internal laws of the State of Delaware as applied to agreements entered into among Delaware residents to be performed entirely within Delaware, without regard to principles of conflicts of law.
		
	7.4
	Expenses.

The Company shall pay all fees, expenses and costs incurred by the Company and Clean Energy in connection with the transactions contemplated by this Agreement (including the fees and expenses of counsel to Clean Energy).
		
	7.5
	Survival; Indemnification.

(a)    The representations, warranties, covenants and agreements made in this Agreement shall survive the execution and delivery of this Agreement and the Closing and shall in no way be effected by any investigation made by or on behalf of any party hereto.
(b)    The Company shall indemnify and hold harmless Clean Energy and each of its directors, officers, stockholders, affiliates, agents and representatives from and against and in respect of any and all actions, causes of action, suits, proceedings, claims, appeals, demands, assessments, judgment, losses, damages, liabilities, interest, fines, penalties, costs and expenses 

10
sd-701304 

Execution Version

(including, without limitation, attorneys’ fees and disbursements incurred in connection therewith and in  seeking indemnification therefor, and any amounts or expenses required to be paid or incurred in connection therewith), resulting from, arising out of, or imposed upon or incurred by any person to be indemnified hereunder by reason of any breach of any representation, warranty, covenant or agreement of the Company made in this Agreement or any certificate or other instrument delivered by or on behalf of the Company pursuant hereto or in connection with the transactions contemplated hereby or thereby.
		
	7.6
	Successors and Assigns.

This Agreement, and any and all rights, duties and obligations hereunder, shall not be assigned, transferred, delegated or sublicensed by any party without the prior written consent of the other party, except for any such assignment, transfer, delegation or sublicense by Clean Energy to any of its Permitted Transferees (as defined in the Operating Agreement). Subject to the foregoing and except as otherwise provided herein, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors, assigns, heirs, executors and administrators any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.
		
	7.7
	Entire Agreement.

This Agreement, including the exhibits attached hereto and the other documents referred to herein, constitutes the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof. No party shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth herein or therein.
		
	7.8
	No Waiver.

Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing to any party to this Agreement upon any breach or default of any other party under this Agreement shall impair any such right, power or remedy of such non-defaulting party, nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing.

11
sd-701304 

Execution Version

		
	7.9
	Remedies.

In addition to being entitled to exercise all rights provided herein or granted by applicable law, each party hereto acknowledges and agrees that monetary damages may not adequately compensate an injured party for the breach of this Agreement by any other party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each party waives any claim or defense that there is an adequate remedy at law for any such breach or threatened breach hereunder. All remedies, either under this Agreement or by applicable law or otherwise afforded to any party to this Agreement, shall be cumulative and not alternative and a party’s exercise of any such remedy will not constitute a waiver of such party’s right to assert any other legal remedy available to it.
		
	7.10
	Severability.

If any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Agreement, and such court will replace such illegal, void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the greatest extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this Agreement shall be enforceable in accordance with its terms.
		
	7.11
	Counterparts.

This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument.
		
	7.12
	Telecopy Execution and Delivery.

A facsimile, telecopy or other reproduction of this Agreement may be executed by one or more parties hereto and delivered by such party by facsimile or any similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen. Such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto shall execute and deliver an original of this Agreement as well as any facsimile, telecopy or other reproduction hereof.
		
	7.13
	Jurisdiction; Venue.

Each of the parties hereto hereby submits and consents irrevocably to the exclusive jurisdiction of the courts of the State of Delaware and the United States District Court for the District of Delaware for the interpretation and enforcement of the provisions of this Agreement. Each of the parties hereto also agrees that the jurisdiction over the person of such parties and the subject matter of such dispute shall be effected by the mailing of process or other papers in connection with 

12
sd-701304 

Execution Version

any such action in the manner provided for in Section 7.2 or in such other manner as may be lawful, and that service in such manner shall constitute valid and sufficient service of process.
		
	7.14
	Titles and Subtitles.

The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. All references in this Agreement to sections, paragraphs and exhibits shall, unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto.
		
	7.15
	Further Assurances.

Each party hereto shall execute and deliver, by the proper exercise of its corporate, limited liability company, partnership or other powers, all such other and additional instruments and documents and do all such other acts and things as may be reasonably necessary to more fully effectuate this Agreement.
		
	7.16
	Jury Trial.

EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING (WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATED TO THIS AGREEMENT.
(signature page follows)

13
sd-701304 

Execution Version

The parties are signing this Series A Preferred Units Issuance Agreement as of the date stated in the introductory clause. 

	
		
	 
	CLEAN ENERGY
a California corporation

	 
	

By_______________________________
Name:
Title:

	
		
	 
	NG ADVANTAGE LLC
a Delaware limited liability company

	 
	

By_______________________________
Name:
Title:

EXHIBIT A
AMENDED AND RESTATED LIMITED LIABILITY COMPANY 
OPERATING AGREEMENT

14
sd-701304 

Execution Version

EXHIBIT B
CONTRIBUTION AGREEMENT

sd-701304

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00276-of-00352.parquet"}]]