Document:

Exhibit 4.3 

Höegh
LNG PARTNERS LP

LONG TERM INCENTIVE PLAN

 

Section 1.          Purpose
of the Plan. The Höegh LNG Partners LP Long Term Incentive Plan (the “Plan”) has
been adopted on July 23, 2014 (the “Effective Date”) by Höegh LNG Partners LP, a Marshall Islands
limited partnership (the “Partnership”). The Plan is intended to promote the interests of the Partnership
and its Affiliates by providing to Employees, Consultants and Directors who perform services for the Partnership and its subsidiaries
incentive compensation awards based on Units to encourage superior performance. The Plan is also contemplated to enhance the ability
of the Partnership and its Affiliates to attract and retain the services of individuals who are essential for the growth and profitability
of the Partnership and to encourage them to devote their best efforts to advancing the business of the Partnership.

 

Section 2.          Definitions.
For purposes of the Plan, capitalized terms used but not otherwise defined herein shall have the meanings set forth below. In interpreting
any terms defined in this Plan, the term shall, where it appears appropriate to do so, be taken to include in each case the equivalent
in any other jurisdiction.

 

(a)          “Affiliate”
means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is
controlled by or is under common control with, the Person in question. As used herein, the term “control” 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 ownership of voting securities, by contract or otherwise.

 

(b)          “Award”
means an Option, Unit Appreciation Right, Restricted Unit, Phantom Unit, Unit Award, Substitute Award, Other Unit Based Award,
Cash Award, Distribution Equivalent Rights (whether granted alone or in tandem with respect to another Award, other than a Restricted
Unit or Unit Award), or Performance Award, in each case, granted under the Plan.

 

(c)          “Award
Agreement” means the written or electronic agreement by which an Award shall be evidenced.

 

(d)          “Board”
means the Board of Directors of the Partnership.

 

(e)          “Cash
Award” means an award denominated in cash.

 

(f)          “Change
of Control” means, and shall be deemed to have occurred upon one or more of the following events:

 

(i)          any
“person” or “group” within the meaning of those terms as used in Sections 13(d) and 14(d)(2) of the United
States Securities Exchange Act of 1934, as amended from time to time, other than members, limited partners or other owners (as
applicable) of the General Partner, the Partnership, or an Affiliate of either the General Partner or the Partnership, shall become
the beneficial owner, by way of merger, consolidation, recapitalization, reorganization or otherwise, of 50% or more of the voting
power of the voting securities of the General Partner or the Partnership;

 

    	 

    	 

    

 

 

(ii)         the
members or limited partners (as applicable) of the General Partner or the Partnership approve, in one transaction or a series of
transactions, a plan of complete liquidation of the General Partner or the Partnership;

 

(iii)        the
sale or other disposition by either the General Partner or the Partnership of all or substantially all of its assets in one or
more transactions to any Person other than an Affiliate;

 

(iv)        the
General Partner or an Affiliate of the General Partner or of the Partnership ceases to be the general partner of the Partnership;
or

 

(v)         any
other event specified as a “Change of Control” in an applicable Award Agreement.

 

(g)          “Committee”
means the Board or such committee as may be appointed by the Board to administer the Plan, which alternative committee may be the
board of directors or managers of any Affiliate or a committee thereof.

 

(h)          “Consultant”
means an individual who renders consulting or advisory services to the General Partner, the Partnership or an Affiliate of either.
 

 

(i)          
“Director” means a member of the Board who is not an Employee or a Consultant (other than in that individual’s
capacity as a Director).

 

(j)          “Distribution
Equivalent Right” or “DER” means a contingent right, granted alone or in tandem with a
specific Award (other than a Restricted Unit or Unit Award), to receive with respect to each Unit subject to the Award an amount
in cash, Units and/or Phantom Units, as determined by the Committee in its sole discretion, equal in value to the distributions
made by the Partnership with respect to a Unit during the period such Award is outstanding.

 

(k)          “Employee”
means an employee of the Partnership, the General Partner or an Affiliate of the General Partner or the Partnership. 

 

(l)          “Fair
Market Value” means, on any relevant date, the closing sales price of a Unit on the principal national securities
exchange or other market in which trading in Units occurs on the last market trading day prior to the applicable day (or, if there
is no trading in the Units on such date, on the next preceding day on which there was trading) as reported in The Wall Street Journal
(or other reporting service approved by the Committee). If Units are not traded on a national securities exchange or other market
at the time a determination of Fair Market Value is required to be made hereunder, the determination of Fair Market Value shall
be made by the Committee in good faith.

 

(m)          “General
Partner” means Höegh LNG GP LLC, a Marshall Islands limited liability company and the general partner
of the Partnership.

 

(n)          “Option”
means an option to purchase Units.

 

(o)          “Other
Unit Based Award” means an Award granted pursuant to Section 6(f).

 

(p)          “Participant”
means an Employee, Consultant or Director who has been granted an Award under the Plan.

 

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(q)          “Performance
Award” means a right granted pursuant to Section 6(i) to receive an Award based upon performance conditions specified
by the Committee.

 

(r)          “Person”
means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated organization,
association, governmental agency or political subdivision thereof or other entity.

 

(s)          “Phantom
Unit” means a notional Unit that, upon vesting, entitles the Participant to receive, at the time of settlement, a
Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion.

 

(t)          “Restricted
Period” means the period established by the Committee with respect to an Award during which the Award remains subject
to forfeiture and is not exercisable by or payable to the Participant, as the case may be.

 

(u)          “Restricted
Unit” means a Unit that is subject to a Restricted Period.

 

(v)         “SEC”
means the United States Securities and Exchange Commission, or any successor thereto.

 

(w)          “Substitute
Award” means an award granted pursuant to Section 6(h).

 

(x)          “Unit
Distribution Right” or “UDR” means a distribution made by the Partnership with respect
to a Restricted Unit.

 

(y)          “Unit”
means a common unit of the Partnership.

 

(z)          “Unit
Appreciation Right” or “UAR” means a contingent right that entitles the holder to receive,
in cash or Units, as determined by the Committee in its sole discretion, an amount equal to the excess of the Fair Market Value
of a Unit on the exercise date of the Unit Appreciation Right (or another specified date) over the exercise price of the Unit Appreciation
Right.

 

(aa)         “Unit
Award” means a grant of a Unit that is not subject to a Restricted Period.

 

Section 3.          Administration.

 

(a)          Authority
of the Committee. The Plan shall be administered by the Committee. A majority of the Committee shall constitute a quorum, and
the acts of the members of the Committee who are present at any meeting thereof at which a quorum is present, or acts unanimously
approved by the members of the Committee in writing, shall be the acts of the Committee. Subject to the terms of the Plan and applicable
law, and in addition to other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have
full power and authority to: (i) designate Employees, Consultants and Directors as Participants; (ii) determine the type
or types of Awards to be granted to a Participant; (iii) determine the number of Units to be covered by Awards; (iv) determine
the terms and conditions of any Award, consistent with the terms of the Plan, which terms may include any provision regarding the
acceleration of vesting or waiver of forfeiture restrictions or any other condition or limitation regarding an Award, based on
such factors as the Committee shall determine, in its sole discretion; (v) determine whether, to what extent, and under what circumstances
Awards may be vested, settled, exercised, canceled, or forfeited; (vi) interpret and administer the Plan and any instrument
or agreement relating to an Award made under the Plan; (vii) establish, amend, suspend, or waive such rules and regulations
and delegate to and appoint such agents as it shall deem appropriate for the proper administration of the Plan; (viii) adopt sub-plans,
not inconsistent with the Plan, in jurisdictions where it appears appropriate to do so; and (ix) make any other determination
and take any other action that the Committee deems necessary or desirable for the administration of the Plan. The Committee may
correct any defect or supply any omission or reconcile any inconsistency in the Plan or an Award Agreement in such manner and to
such extent as the Committee deems necessary or appropriate. Unless otherwise expressly provided in the Plan, all designations,
determinations, interpretations and other decisions under or with respect to the Plan or any Award shall be within the sole discretion
of the Committee, may be made at any time and shall be final, conclusive and binding upon all Persons.

 

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(b)          Limitation
of Liability. The Committee and each member thereof shall be entitled to, in good faith, rely or act upon any report or other
information furnished to him or her by any officer or employee of the Partnership, the General Partner or their Affiliates, the
General Partner’s or the Partnership’s legal counsel, independent auditors, consultants or any other agents assisting
in the administration of the Plan. Members of the Committee and any officer or employee of the Partnership, the General Partner
or any of their Affiliates acting at the direction or on behalf of the Committee shall not be personally liable for any action
or determination taken or made in good faith with respect to this Plan, and shall, to the fullest extent permitted by law, be indemnified
and held harmless with respect to any such action or determination.

 

Section 4.          Units.

 

(a)          Limits
on Units Deliverable. Subject to adjustment as provided in Section 4(c) and Section 7, the number of Units that may be delivered
with respect to Awards under the Plan will not exceed 658,000 Units withheld from an Award or surrendered by a Participant to satisfy
the Partnership’s or an Affiliate’s tax withholding obligations (including the withholding of Units with respect to
Restricted Units) or to satisfy the payment of any exercise price with respect to the Award shall not be considered to be Units
delivered under the Plan for this purpose. If any Award is forfeited, cancelled, exercised, settled in cash, or otherwise terminates
or expires without the actual delivery of Units pursuant to such Award (the grant of Restricted Units is not a delivery of Units
for this purpose), the Units subject to such Award shall again be available for Awards under the Plan (including Units not delivered
in connection with the exercise of an Option or Unit Appreciation Right).  There shall not be any limitation on the number
of Awards that may be granted and paid in cash.

 

(b)          Sources
of Units Deliverable Under Awards. Any Units delivered pursuant to an Award may consist, in whole or in part, of newly issued
Units, Units acquired in the open market, from any Affiliate, the Partnership or any other Person, or any combination of the foregoing,
as determined by the Committee in its discretion.

 

(c)          Anti-dilution
Adjustments. Notwithstanding anything contained in Section 7, with respect to any “equity restructuring” event
that could result in an additional compensation expense to the General Partner or the Partnership pursuant to the provisions of
the Financial Accounting Standards Board, Accounting Standards Codification, Topic 718—Stock Compensation (“ASC
Topic 718”) if adjustments to Awards with respect to such event were discretionary, the Committee shall equitably
adjust the number and type of Units covered by each outstanding Award and the terms and conditions, including the exercise price
and performance criteria (if any), of such Award to equitably reflect such restructuring event and shall adjust the number and
type of Units (or other securities or property) with respect to which Awards may be granted after such event. With respect to any
other similar event that would not result in an accounting charge under ASC Topic 718 if the adjustment to Awards with respect
to such event were subject to discretionary action, the Committee shall have complete discretion to adjust Awards in such manner
as it deems appropriate with respect to such other event. In the event the Committee makes any adjustment pursuant to the foregoing
provisions of this Section 4(c), the Committee shall make a corresponding and proportionate adjustment with respect to the maximum
number of Units that may be delivered with respect to Awards under the Plan as provided in Section 4(a) and the kind of Units or
other securities available for grant under the Plan.

 

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Section 5.          Eligibility.
Any Employee, Consultant or Director, in each case, who provides services to the Partnership and/or its subsidiaries shall be eligible
to be designated a Participant and receive an Award under the Plan. If the Units issuable pursuant to an Award are intended to
be registered with the SEC on Form S-8, then only “employees,” “directors,” or “consultants”
of the Partnership or a parent or subsidiary of the Partnership (within the meaning of General Instruction A.1(a) to Form S-8)
will be eligible to receive such an Award.

 

Section 6.          Awards.

 

(a)          General.
Awards may be granted on the terms and conditions set forth in this Section 6. In addition, the Committee may impose on any Award
or the exercise thereof, at the date of grant or thereafter (subject to Section 7(a)), such additional terms and conditions, not
inconsistent with the provisions of the Plan, as the Committee shall determine, including terms requiring forfeiture of Awards
in the event of termination of employment or service, and terms permitting a Participant to make elections relating to his or her
Award. Subject to Section 7(a), the Committee shall retain full power and discretion to accelerate, waive or modify, at any time,
any term or condition of an Award that is not mandatory under the Plan.

 

(b)          Options.
The Committee may grant Options to any eligible Employee, Consultant or Director. The Committee shall have the authority to determine
the number of Units to be covered by each Option, the purchase price therefor and the Restricted Period and other conditions and
limitations applicable to the exercise of the Option, including the following terms and conditions and such additional terms and
conditions, as the Committee shall determine, that are not inconsistent with the provisions of the Plan.

 

(i)          Exercise
Price. The exercise price per Unit purchasable under an Option shall be determined by the Committee at the time the Option
is granted but, except with respect to Substitute Awards, may not be less than the Fair Market Value of a Unit as of the date of
grant of the Option. For purposes of this Section 6(b)(i), the Fair Market Value of a Unit shall be determined as of the date of
grant.

 

(ii)         Time
and Method of Exercise. The Committee shall determine the exercise terms and the Restricted Period with respect to an Option
grant, which may include, without limitation, a provision for accelerated vesting upon the achievement of specified performance
conditions or other events, and the method or methods by which payment of the exercise price with respect thereto may be made or
deemed to have been made, which may include, without limitation, cash, check acceptable to the Partnership, withholding Units from
an Award, a “cashless-broker” exercise through procedures approved by the Committee, or any combination of the above
methods, having a Fair Market Value on the exercise date equal to the relevant exercise price.

 

(iii)        Forfeitures.
Except as otherwise provided in the terms of the Award Agreement, upon termination of a Participant’s employment or service,
whichever is applicable, for any reason during the applicable Restricted Period, all unvested Options shall be forfeited by the
Participant. The Committee may, in its discretion, waive in whole or in part such forfeiture with respect to a Participant’s
Options.

 

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(c)          Unit
Appreciation Rights. The Committee may grant Unit Appreciation Rights to any eligible Employee, Consultant or Director. The
Committee shall have the authority to determine the Employees, Consultants and Directors to whom Unit Appreciation Rights shall
be granted, the number of Units to be covered by each grant, whether Units or cash shall be delivered upon exercise, the exercise
price therefor and the conditions and limitations applicable to the exercise of the Unit Appreciation Rights, including the following
terms and conditions and such additional terms and conditions as the Committee shall determine, that are not inconsistent with
the provisions of the Plan.

 

(i)          Exercise
Price. The exercise price per Unit Appreciation Right shall be determined by the Committee at the time the Unit Appreciation
Right is granted but, except with respect to Substitute Awards, may not be less than the Fair Market Value of a Unit as of the
date of grant of the Unit Appreciation Right. For purposes of this Section 6(c)(i), the Fair Market Value of a Unit shall be determined
as of the date of grant.

 

(ii)         Time
of Exercise. The Committee shall determine the Restricted Period and the time or times at which a Unit Appreciation Right may
be exercised in whole or in part, which may include, without limitation, accelerated vesting upon the achievement of specified
performance conditions or other events.

 

(iii)        Forfeitures.
Except as otherwise provided in the terms of the Award Agreement, upon termination of a Participant’s employment or service,
whichever is applicable, for any reason during the applicable Restricted Period, all outstanding Unit Appreciation Rights awarded
to the Participant shall be automatically forfeited on such termination. The Committee may, in its discretion, waive in whole or
in part such forfeiture with respect to a Participant’s Unit Appreciation Rights.

 

(d)          Restricted
Units and Phantom Units. The Committee shall have the authority to determine the Employees, Consultants and Directors to whom
Restricted Units or Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to each such
Participant, the Restricted Period, the conditions under which the Restricted Units or Phantom Units may become vested or forfeited
and such other terms and conditions as the Committee may establish with respect to such Awards.

 

(i)          UDRs.
To the extent provided by the Committee, in its discretion, a grant of Restricted Units may provide that the distributions made
by the Partnership with respect to the Restricted Units shall be subject to the same forfeiture and other restrictions as the Restricted
Unit and, if restricted, such distributions shall be held, without interest, until the Restricted Unit vests or is forfeited with
the UDR being paid or forfeited at the same time, as the case may be. In addition, the Committee may provide that such distributions
be used to acquire additional Restricted Units for the Participant. Such additional Restricted Units may be subject to such vesting
and other terms as the Committee may prescribe. Absent such a restriction on the UDRs in the Award Agreement, UDRs shall be paid
to the holder of the Restricted Unit without restriction at the same time as cash distributions are paid by the Partnership to
its unitholders.

 

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(ii)         Forfeitures.
Except as otherwise provided in the terms of the applicable Award Agreement, upon termination of a Participant’s employment
or service, whichever is applicable, for any reason during the applicable Restricted Period, all outstanding, unvested Restricted
Units and Phantom Units awarded to the Participant shall be automatically forfeited on such termination. The Committee may, in
its discretion, waive in whole or in part such forfeiture with respect to a Participant’s Restricted Units and/or Phantom
Units.

 

(iii)        Lapse
of Restrictions.

 

(A)         Phantom
Units. Following the vesting of and at the time of settlement specified for each Phantom Unit, subject to the provisions of
Section 8(b), the Participant shall be entitled to payment of such Phantom Unit and shall receive one Unit or an amount in cash
equal to the Fair Market Value of a Unit, as determined by the Committee in its discretion.

 

(B)         Restricted
Units. Upon the vesting of each Restricted Unit, subject to satisfying the tax withholding obligations of Section 8(b), the
Participant shall be entitled to have the restrictions removed from his or her Award so that the Participant then holds an unrestricted
Unit.

 

(e)          Unit
Awards. The Committee shall have the authority to grant a Unit Award under the Plan to any Employee, Consultant or Director
in a number determined by the Committee in its discretion, as a bonus or additional compensation or in lieu of cash compensation
the individual is otherwise entitled to receive, in such amounts as the Committee determines to be appropriate.

 

(f)          Other
Unit Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant to Employees, Consultants
and Directors such other Awards that may be denominated or payable in, valued in whole or in part by reference to, or otherwise
based on, or related to, Units, as deemed by the Committee to be consistent with the purposes of this Plan, including, without
limitation, convertible or exchangeable debt securities, other rights convertible or exchangeable into Units, purchase rights for
Units, Awards with value and payment contingent upon performance of the Partnership or any other factors designated by the Committee,
and Awards valued by reference to the book value of Units or the value of securities of or the performance of specified Affiliates
of the General Partner or the Partnership. The Committee shall determine the terms and conditions of such Other Unit Based Awards.
Units delivered pursuant to an Other Unit Based Award in the nature of a purchase right granted under this Section 6(f) shall be
purchased for such consideration, paid for at such times, by such methods, and in such forms, including, without limitation, cash,
Units, other Awards, or other property, as the Committee shall determine. Cash Awards, as an element of or supplement to, or independent
of any other Award under this Plan, may also be granted pursuant to this Section 6(f).

 

(g)          DERs.
To the extent provided by the Committee, in its discretion, an Employee, Consultant or Director may be granted a stand-alone DER
or another Award (other than a Restricted Unit or Unit Award) granted to an Employee, Consultant or Director may include a tandem
DER grant, in either case, which may provide that such DERs shall be paid directly to the Participant, be reinvested into additional
Awards, be credited to a bookkeeping account (with or without interest in the discretion of the Committee) subject to the same
vesting restrictions as the tandem Award (if any), or be subject to such other provisions or restrictions as determined by the
Committee in its discretion. Absent a contrary provision in the Award Agreement, DERs shall be paid to the Participant without
restriction at the same time as ordinary cash distributions are paid by the Partnership to its unitholders.

 

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(h)          Substitute
Awards. Awards may be granted under the Plan in substitution for similar awards held by individuals who become Employees, Consultants
or Directors as a result of a merger, consolidation or acquisition by the Partnership or an Affiliate of another entity, including
an acquisition of the assets of another entity. Such Substitute Awards that are Options or Unit Appreciation Rights may have exercise
prices less than the Fair Market Value of a Unit on the date of the substitution if such substitution complies with applicable
laws and exchange rules.

 

(i)          Performance
Awards. The right of an Employee, Consultant or Director to exercise or receive a grant or settlement of any Award, and the
vesting or timing thereof, may be subject to such performance conditions as may be specified by the Committee.

 

(i)          Performance
Conditions Generally. The performance conditions for such Performance Awards shall consist of one or more business criteria
or individual performance criteria and a targeted level or levels of performance with respect to each of such criteria, as specified
by the Committee in its sole discretion. The Committee may determine that such Performance Awards shall be granted, exercised,
vested and/or settled upon achievement of any one performance condition or that two or more performance conditions must be achieved
as a condition to grant, exercise, vesting and/or settlement of such Performance Awards. Performance conditions may differ for
Performance Awards granted to any one Participant or to different Participants.

 

(ii)         Performance
Periods. Achievement of performance conditions in respect of such Performance Awards shall be measured over a performance period
of up to ten years, as specified by the Committee.

 

(iii)        Settlement.
At the end of the applicable performance period, the Committee shall determine the amount, if any, of the potential Performance
Award that will be granted or will become vested, exercised and/or settled. Settlement of such Performance Awards shall be in cash,
Units, other Awards or other property, in the discretion of the Committee. The Committee may, in its discretion, reduce or increase
the amount of a settlement otherwise to be made in connection with such Performance Awards. 

 

(j)          Certain
Provisions Applicable to Awards.

 

(i)          Stand-Alone,
Additional, Tandem and Substitute Awards. Awards may, in the discretion of the Committee, be granted either alone or in addition
to, in tandem with, or in substitution for any other Award granted under the Plan or any award granted under any other plan of
the Partnership or any Affiliate. Awards granted in addition to, in substitution for, or in tandem with other Awards or awards
granted under any other plan of the Partnership or any Affiliate may be granted either at the same time as or at a different time
from the grant of such other Awards or awards. If an Award is granted in substitution or exchange for another Award, the Committee
shall require the surrender of such other Award in consideration for the grant of the new Award. Awards under the Plan may be granted
in lieu of cash compensation, including in lieu of cash amounts payable under other plans of the General Partner, the Partnership,
or any Affiliate, in which the value of Units subject to the Award is equivalent in value to the cash compensation, or in which
the exercise price, grant price, or purchase price of the Award in the nature of a right that may be exercised is equal to the
Fair Market Value of the underlying Units minus the value of the cash compensation surrendered.

 

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(ii)         Limits
on Transfer of Awards.

 

(A)         Except
as provided in Section 6(j)(ii)(C) below, each Option and Unit Appreciation Right shall be exercisable only by the Participant
during the Participant’s lifetime, or by the Person to whom the Participant’s rights shall pass by will or the laws
of descent and distribution.

 

(B)         Except
as provided in Section 6(j)(ii)(C) below, no Award and no right under any such Award may be assigned, alienated, pledged, attached,
sold or otherwise transferred or encumbered by a Participant and any such purported assignment, alienation, pledge, attachment,
sale, transfer or encumbrance shall be void and unenforceable against the General Partner, the Partnership or any Affiliate.

 

(C)         To
the extent specifically provided by the Committee with respect to an Option or Unit Appreciation Right, an Option or Unit Appreciation
Right may be transferred by a Participant without consideration to immediate family members or related family trusts, limited partnerships
or similar entities or on such terms and conditions as the Committee may from time to time establish.

 

(iii)        Term
of Awards. The term of each Award shall be for such period as may be determined by the Committee.

 

(iv)        Form
and Timing of Payment under Awards; Deferrals. Subject to the terms of the Plan, any applicable Award Agreement and applicable
law, payments to be made by the General Partner, the Partnership, or any Affiliate upon the exercise of an Option or other Award
or settlement of an Award may be made in such forms as the Committee shall determine, including without limitation cash, Units,
other Awards or other property, and may be made in a single payment or transfer, in installments, or on a deferred basis. Except
as otherwise provided herein, the settlement of any Award may be accelerated, and cash paid in lieu of Units in connection with
such settlement, in the discretion of the Committee or upon occurrence of one or more specified events (in addition to a Change
of Control). Payments may include, without limitation, provisions for the payment or crediting of reasonable interest on installment
or deferred payments or the grant or crediting of DERs or other amounts in respect of installment or deferred payments denominated
in Units. This Plan shall not constitute an “employee benefit plan” for purposes of Section 3(3) of the Employee Retirement
Income Security Act of 1974, as amended.

 

(v)         Evidencing
Units. The Units or other securities of the Partnership delivered pursuant to an Award may be evidenced in any manner deemed
appropriate by the Committee in its sole discretion, including, but not limited to, in the form of a certificate issued in the
name of the Participant or by book entry, electronic or otherwise, and shall be subject to such stop transfer orders and other
restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the SEC, any
stock exchange upon which such Units or other securities are then listed, and any applicable federal, state or other laws, and
the Committee may cause a legend or legends to be inscribed on any such certificates to make appropriate reference to such restrictions.

 

(vi)        Consideration
for Grants. Awards may be granted for such consideration, including services, as the Committee shall determine.

 

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(vii)       Delivery
of Units or other Securities and Payment by Participant. Notwithstanding anything in the Plan or any Award Agreement to the
contrary, delivery of Units pursuant to the exercise, vesting and/or settlement of an Award may be deferred for any period during
which, in the good faith determination of the Committee, the Partnership is not reasonably able to obtain Units to deliver pursuant
to such Award without violating applicable law or the applicable rules or regulations of any governmental
agency or authority or securities exchange. No Units or other securities shall be delivered pursuant to any Award until payment
in full of any amount required to be paid pursuant to the Plan or the applicable Award Agreement (including, without limitation,
any exercise price or tax withholding) is received by the Partnership.

 

(viii)      Additional
Agreements. Each Employee, Consultant or Director to whom an Award is granted under this Plan may be required to agree in writing,
as a condition to the grant of such Award or otherwise, to subject an Award that is exercised or settled following such Person’s
termination of services with the General Partner, the Partnership or their Affiliates to a general release of claims and/or a noncompetition
agreement in favor of the General Partner, the Partnership, and their Affiliates, with the terms and conditions of such agreement(s)
to be determined in good faith by the Committee.

 

(ix)         Termination
of Employment or Service. Except as provided herein, the treatment of an Award upon a termination of employment or any other
service relationship by and between a Participant and the General Partner, the Partnership, or any Affiliate shall be specified
in the Award Agreement controlling such Award.

 

Section 7.          Amendment
and Termination. Except to the extent prohibited by applicable law:

 

(a)          Amendments
to the Plan and Awards. Except as required by applicable law or the rules of the principal securities exchange, if any, on
which the Units are traded, the Board or the Committee may amend, alter, suspend, discontinue, or terminate the Plan in any manner,
including increasing the number of Units available for Awards under the Plan, without the consent of any partner, Participant,
other holder or beneficiary of an Award, or any other Person. Notwithstanding the foregoing, the Committee may waive any conditions
or rights under, amend any terms of, or alter any Award theretofore granted, provided that no change, other than pursuant to Section
7(b), 7(c), 7(d), 7(e), or 7(g) below, in any Award shall materially reduce the rights or benefits of a Participant with respect
to an Award without the consent of such Participant.

 

(b)          Subdivision
or Consolidation of Units. The terms of an Award and the number of Units authorized for issuance under the Plan pursuant to
Section 4(a) shall be subject to adjustment from time to time, in accordance with the following provisions:

 

(i)          If
at any time, or from time to time, the Partnership shall subdivide as a whole (by reclassification, by a Unit split, by the issuance
of a distribution on Units payable in Units, or otherwise) the number of Units then outstanding into a greater number of Units,
or in the event the Partnership distributes an extraordinary cash dividend, then, as appropriate, (A) the maximum number of
Units available for the Plan or in connection with Awards as provided in Section 4(a) shall be increased proportionately, and the
kind of Units or other securities available for the Plan shall be appropriately adjusted, (B) the number of Units (or other kind
of securities) that may be acquired under any then outstanding Award shall be increased proportionately, and (C) the price (including
the exercise price) for each Unit (or other kind of securities) subject to then outstanding Awards shall be reduced proportionately,
without changing the aggregate purchase price or value as to which outstanding Awards remain exercisable or subject to restrictions.

 

    	10

    	 

    

 

 

(ii)         If
at any time, or from time to time, the Partnership shall consolidate as a whole (by reclassification, by reverse Unit split, or
otherwise) the number of Units then outstanding into a lesser number of Units, then, as appropriate, (A) the maximum number of
Units for the Plan or available in connection with Awards as provided in Section 4(a) shall be decreased proportionately, and the
kind of Units or other securities available for the Plan shall be appropriately adjusted, (B) the number of Units (or other kind
of securities) that may be acquired under any then outstanding Award shall be decreased proportionately, and (C) the price (including
the exercise price) for each Unit (or other kind of securities) subject to then outstanding Awards shall be increased proportionately,
without changing the aggregate purchase price or value as to which outstanding Awards remain exercisable or subject to restrictions.

 

(iii)        Whenever
the number of Units subject to outstanding Awards and the price for each Unit subject to outstanding Awards are required to be
adjusted as provided in this Section 7(b), the Committee shall promptly prepare a notice setting forth, in reasonable detail, the
event requiring adjustment, the amount of the adjustment, the method by which such adjustment was calculated, the change in price
and the change in the number of Units, other securities, cash, or property subject to each Award after giving effect to the adjustments.
The Committee shall promptly provide each affected Participant with such notice.

 

(iv)        Adjustments
under Sections 7(b)(i) and (ii) shall be made by the Committee, and its determination as to what adjustments shall be made and
the extent thereof shall be final, binding, and conclusive. No fractional interest shall be issued under the Plan on account of
any such adjustments.

 

(c)          Recapitalizations.
If the Partnership recapitalizes, reclassifies its equity securities, or otherwise changes its capital structure (a “recapitalization”)
without a Change of Control, the number and class of Units covered by an Award theretofore granted shall be adjusted so that such
Award shall thereafter cover the number and class of Units or other securities to which the holder would have been entitled pursuant
to the terms of the recapitalization if, immediately prior to the recapitalization, the holder had been the holder of record of
the number of Units then covered by such Award and the Unit limitation provided in Section 4(a) shall be adjusted in a manner consistent
with the recapitalization.

 

(d)          Additional
Issuances. Except as expressly provided herein, the issuance by the Partnership of units of any class or securities convertible
into units of any class, for cash, property, labor or services, upon direct sale, upon the exercise of rights or warrants to subscribe
therefor, or upon conversion of units or obligations of the Partnership convertible into such units or other securities, and in
any case whether or not for fair value, shall not affect, and no adjustment by reason thereof shall be made with respect to, the
number of Units subject to Awards theretofore granted or the purchase price per Unit, if applicable.

 

    	11

    	 

    

 

 

(e)          Change
of Control. Notwithstanding any other provisions of the Plan or any Award Agreement to the contrary, upon a Change of Control,
the Committee, acting in its sole discretion without the consent or approval of any holder, may affect one or more of the following
alternatives, which may vary among individual holders and which may vary among Awards: (i) remove any applicable forfeiture restrictions
on any Award; (ii) accelerate the time of exercisability or the time at which the Restricted Period shall lapse to a specific date,
before or after such Change of Control, specified by the Committee; (iii)  require the mandatory surrender to the General
Partner or the Partnership by selected holders of some or all of the outstanding Awards held by such holders (irrespective of whether
such Awards are then subject to a Restricted Period or other restrictions pursuant to the Plan) as of a date, before or after such
Change of Control, specified by the Committee, in which event the Committee shall thereupon cancel such Awards and pay to each
holder an amount of cash per Unit equal to the amount calculated in Section 7(f) (the “Change of Control Price”)
less the exercise price, if any, applicable to such Awards; provided, however, that to the extent the exercise price
of an Option or a Unit Appreciation Right exceeds the Change of Control Price, no consideration will be paid with respect to that
Award; (iv) cancel Awards that remain subject to a Restricted Period as of the date of a Change of Control without payment of any
consideration to the Participant for such Awards; or (v) make such adjustments to Awards then outstanding as the Committee deems
appropriate to reflect such Change of Control (including, but not limited to, the substitution of Awards for new awards); provided,
however, that the Committee may determine in its sole discretion that no adjustment is necessary to Awards then outstanding.

 

(f)          Change
of Control Price. The “Change of Control Price” shall equal the amount determined in clause (i),
(ii), (iii), (iv) or (v), whichever is applicable, as follows: (i) the per Unit price offered to unitholders in any merger or consolidation,
(ii) the per Unit value of the Units immediately before the Change of Control without regard to assets sold in the Change of Control
and assuming the General Partner or the Partnership, as applicable, has received the consideration paid for the assets in the case
of a sale of the assets, (iii) the amount distributed per Unit in a dissolution transaction, (iv) the price per Unit offered to
unitholders in any tender offer or exchange offer whereby a Change of Control takes place, or (v) if such Change of Control occurs
other than pursuant to a transaction described in clauses (i), (ii), (iii), or (iv) of this Section 7(f), the Fair Market Value
per Unit of the Units that may otherwise be obtained with respect to such Awards or to which such Awards track, as determined by
the Committee as of the date determined by the Committee to be the date of cancellation and surrender of such Awards. In the event
that the consideration offered to unitholders of the Partnership in any transaction described in this Section 7(f) or Section 7(e)
consists of anything other than cash, the Committee shall determine the fair cash equivalent of the portion of the consideration
offered which is other than cash.

 

(g)          Impact
of Events on Awards Generally. In the event of changes in the outstanding Units by reason of a recapitalization, reorganization,
merger, consolidation, combination, exchange or other relevant change in capitalization occurring after the date of the grant of
any Award and not otherwise provided for by this Section 7, any outstanding Awards and any Award Agreements evidencing such Awards
shall be subject to adjustment by the Committee at its discretion, which adjustment may, in the Committee’s discretion, be
described in the Award Agreement and may include, but not be limited to, adjustments as to the number and price of Units or other
consideration subject to such Awards, accelerated vesting (in full or in part) of such Awards, conversion of such Awards into awards
denominated in the securities or other interests of any successor Person, or the cash settlement of such Awards in exchange for
the cancellation thereof. In the event of any such change in the outstanding Units, the aggregate number of Units available under
this Plan may be appropriately adjusted by the Committee, whose determination shall be conclusive.

 

Section 8.          General
Provisions.

 

(a)          No
Rights to Award. No Person shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity
of treatment of Participants. The terms and conditions of Awards need not be the same with respect to each recipient.

 

    	12

    	 

    

 

 

(b)          Tax
Withholding. Unless other arrangements have been made that are acceptable to the Partnership, the Partnership, the General
Partner or an Affiliate is authorized to deduct, withhold, or cause to be deducted or withheld, from any Award, from any payment
due or transfer made under any Award or from any compensation or other amount owing to a Participant the amount (in cash, Units,
Units that would otherwise be issued pursuant to such Award or other property) of any applicable taxes payable in respect of the
grant or settlement of an Award, its exercise, the lapse of restrictions thereon, or any other payment or transfer under an Award
or under the Plan and to take such other action as may be necessary in the opinion of the Partnership or Affiliate to satisfy its
withholding obligations for the payment of such taxes.

 

(c)          No
Right to Employment or Services. The grant of an Award shall not be construed as giving a Participant the right to continue
to be employed, to continue providing consulting services, or to remain on the Board, as applicable. Furthermore, the Partnership,
the General Partner or an Affiliate may at any time dismiss a Participant from employment or his or her service relationship free
from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan, any Award Agreement or other agreement.

 

(d)          Governing
Law. The validity, construction, and effect of the Plan and any rules and regulations relating to the Plan shall be determined
in accordance with the laws of the State of New York without regard to its conflicts of laws principles.

 

(e)          Severability.
If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction
or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such
provision shall be construed or deemed amended to conform to the applicable law or, if it cannot be construed or deemed amended
without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be
stricken as to such jurisdiction, Person or Award and the remainder of the Plan and any such Award shall remain in full force and
effect.

 

(f)          Other
Laws. The Committee may refuse to issue or transfer any Units or other consideration under an Award if, in its sole discretion,
it determines that the issuance or transfer of such Units or such other consideration might violate any applicable law or regulation
or the rules of the principal securities exchange on which the Units are then traded, and any payment tendered to the Partnership
by a Participant, other holder or beneficiary in connection with the exercise of such Award shall be promptly refunded to the relevant
Participant, holder or beneficiary.

 

(g)          No
Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any
kind or a fiduciary relationship between the Partnership or any Affiliate and a Participant or any other Person. To the extent
that any Person acquires a right to receive payments from the Partnership or any Affiliate pursuant to an Award, such right shall
be no greater than the right of any general unsecured creditor of the Partnership or such Affiliate.

 

(h)          No
Fractional Units. No fractional Units shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall
determine in its sole discretion whether cash, other securities, or other property shall be paid or transferred in lieu of any
fractional Units or whether such fractional Units or any rights thereto shall be canceled, terminated, or otherwise eliminated
with or without consideration.

 

(i)          Headings.
Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall
not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.

 

    	13

    	 

    

 

 

(j)          Facility
of Payment. Any amounts payable hereunder to any individual under legal disability or who, in the judgment of the Committee,
is unable to manage properly his financial affairs, may be paid to the legal representative of such individual, or may be applied
for the benefit of such individual in any manner that the Committee may select, and the Partnership shall be relieved of any further
liability for payment of such amounts.

 

(k)          Allocation
of Costs. Nothing herein shall be deemed to override, amend, or modify any cost sharing arrangement, omnibus agreement, or
other arrangement between the General Partner, the Partnership, and any Affiliate regarding the sharing of costs between those
entities.

 

(l)          Gender
and Number. Words in the masculine gender shall include the feminine gender, the plural shall include the singular and the
singular shall include the plural.

 

(m)          No
Guarantee of Tax Consequences. The Committee will attempt to structure Awards with terms and conditions and to exercise its
powers and authority under the Plan in a manner that will not result in adverse tax consequences to Participants under any applicable
laws; however, none of the Board, the Committee, the Partnership nor the General Partner makes any commitment or guarantee that
any federal, state, local or other tax treatment will (or will not) apply or be available to any Participant.

 

(n)          Clawback.
To the extent required by (i) applicable law, including without limitation the requirements of the Dodd-Frank Wall Street Reform
and Consumer Protection Act of 2010, any SEC rule or any applicable securities exchange listing standards and/or (ii) any policy
that may be adopted by the Board, Awards and amounts paid, payable or realized pursuant to or with respect to Awards shall be subject
to clawback to the extent necessary to comply with such law(s), rules, standards, and/or policy, which clawback may include forfeiture,
repurchase and/or recoupment of Awards and amounts paid, payable or realized pursuant to or with respect to Awards.

 

Section 9.          Term
of the Plan. The Plan shall be effective on the date immediately preceding the close of the initial public offering of
Units and shall continue until the earliest of (i) the date terminated by the Board, (ii) all Units available under the
Plan have been delivered to Participants, or (iii) the 10th anniversary of the date the Plan is adopted by the Board. However,
any Award granted prior to such termination, and the authority of the Board or Committee to amend, alter, adjust, suspend, discontinue,
or terminate any such Award or to waive any conditions or rights under such Award in accordance with the terms of the Plan shall
extend beyond such termination date until the final disposition of such Award.

 

    	14Exhibit 4.6

  

 

 

administrative
services AGREEMENT

 

AMONG

 

HÖEGH
LNG PARTNERS LP,

 

HÖEGH
LNG Partners Operating LLC

 

and

 

Hoegh LNG
Services Ltd

 

 

 

 

    	 

    	 

    

  

TABLE OF
CONTENTS

 

	 	 	Page
	 	 	 
	Section 1.	Definitions	1
	 	 	 
	Section 2.	General	3
	 	 	 
	Section 3.	Subcontracting	3
	 	 	 
	Section 4.	Covenants	4
	 	 	 
	Section 5.	Exclusivity	4
	 	 	 
	Section 6.	Confidential Information	5
	 	 	 
	Section 7.	VAT	5
	 	 	 
	Section 8.	General Relationship Between the Parties	5
	 	 	 
	Section 9.	Indemnity	5
	 	 	 
	Section 10.	Term and Termination	5
	 	 	 
	Section 11.	Subcontractor Costs and Expenses Upon Termination	6
	 	 	 
	Section 12.	Surrender of Books and Records	6
	 	 	 
	Section 13.	Entire Agreement	7
	 	 	 
	Section 14.	Severability	7
	 	 	 
	Section 15.	Law and Arbitration	7
	 	 	 
	Section 16.	Notice	8
	 	 	 
	Section 17.	Variation	9
	 	 	 
	Section 18.	Waiver	9
	 	 	 
	Section 19.	Assignment	9
	 	 	 
	Section 20.	Third Parties	9
	 	 	 
	Section 21.	Counterparts	9

 

	Schedule A	—	MLP Administrative Services
	Schedule B	—	Operating Company Administrative Services
	Schedule C	—	Managers

 

    	i

    	 

    

  

ADMINISTRATIVE
SERVICES AGREEMENT

 

THIS ADMINISTRATIVE
SERVICES AGREEMENT is entered into on, and effective as of, 2 July, 2014 (this “Agreement”), among
Höegh LNG Partners LP, a Marshall Islands limited partnership (the “MLP”), Höegh LNG Partners
Operating LLC, a Marshall Islands limited liability company and wholly owned subsidiary of the MLP (the “Operating
Company”), and Hoegh LNG Services Ltd, a company limited by shares registered in England and Wales with company
number 9058496 and a wholly owned subsidiary of the Operating Company (“Höegh UK”), each a
“Party” and collectively, the “Parties.”

 

RECITALS:

 

		1.	The MLP, a limited partnership whose
                                         common units representing limited partner interests in the MLP will be listed and traded
                                         on the New York Stock Exchange, and the Operating Company are holding entities that indirectly
                                         own interests in FSRUs and LNG carriers and require certain administrative services in
                                         connection with the management of the group.

 

		2.	The MLP and the Operating Company
                                         wish to engage Höegh UK to provide, or procure the provision of, administrative
                                         services to the MLP and the Operating Company on the terms set out herein.

 

In consideration of
the premises and the covenants, conditions and agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

 

Section 1.          Definitions.
As used in this Agreement, the following terms have the respective meanings set forth below:

 

“Administrative
Services” means the MLP Administrative Services and the Operating Company Administrative Services.

 

“Agreement”
has the meaning given such term in the introduction to this Agreement.

 

“Change
of Control” means, with respect to any entity, an event in which securities of any class entitling the holders thereof
to elect a majority of the members of the board of directors or other similar governing body of the entity are acquired, directly
or indirectly, by a “person” or “group” (within the meaning of Section 13(d)
or 14(d)(2) of the Securities Exchange Act of 1934, as amended), who did not immediately before such acquisition own securities
of the entity entitling such person or group to elect such majority (and for the purpose of this definition, any such securities
held by another person who is related to such person are deemed to be owned by such person).

 

“Closing
Date” means the closing date of the initial public offering of the MLP.

 

“Dispute”
has the meaning given such term in Section 15.

 

    	 

    	 

    

  

“General
Partner” means Höegh LNG GP LLC, a Marshall Islands limited liability company and the general partner of the
MLP.

 

“Höegh
UK” has the meaning given such term in the introduction to this Agreement.

 

“LCIA”
has the meaning given such term in Section 15.

 

“LIBOR”
means the London Interbank Offered Rate.

 

“Managers”
has the meaning given such term in Section 4(a).

 

“MLP”
has the meaning given such term in the introduction to this Agreement.

 

“MLP Administrative
Services” means the services described in Schedule A.

 

“MLP Agreement”
means the First Amended and Restated Agreement of Limited Partnership of the MLP, dated as of the Closing Date, as from time to
time amended.

 

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

 

“Officers”
has the meaning given such term in the MLP Agreement.

 

“Operating
Company” has the meaning given such term in the introduction to this Agreement.

 

“Operating
Company Administrative Services” means the services described in Schedule B.

 

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

 

“Partnership
Group” means the MLP, the General Partner and the subsidiaries of the MLP.

 

“Party”
or “Parties” has the meaning given such term in the introduction to this Agreement.

 

“Person”
means an individual, corporation, partnership, joint venture, trust, limited liability company, unincorporated organization or
any other entity.

 

“Subcontractor
Costs and Expenses” has the meaning given such term in Section 3(b).

 

“Subcontractor
Due Date” has the meaning given such term in Section 3(e).

 

“Subcontractor
Services Fees” has the meaning given such term in Section 3(c).

 

“Tribunal”
has the meaning given such term in Section 15.

 

    	2

    	 

    

  

“Unitholders”
means holders of common units representing limited partnership interests in the MLP.

 

“VAT”
means value added, goods, sales or any similar tax.

 

Section 2.          General.

 

(a)          Höegh
UK shall provide, or procure the provision of, the MLP Administrative Services to the MLP (acting reasonably) and subject to the
supervision of the MLP Board. Höegh UK may subcontract such part of the MLP Administrative Services as the MLP may authorize
from time to time; provided, however, that Höegh UK may only subcontract such portion of the MLP Administrative Services
to Höegh LNG AS, a Norwegian private limited liability company (“Höegh Norway”), or any other
Norwegian entity as described in Schedule A of that certain Administrative Services Agreement, dated on or about the same date
as this Agreement, between Höegh UK and Höegh Norway (the “Höegh UK Administrative Services Agreement”),
with any amendment of such Schedule A to be approved by the MLP. Notwithstanding any such subcontracting, Höegh UK shall
remain responsible and primarily liable for the provision of the MLP Administrative Services. For the avoidance of doubt, Höegh
UK shall not take any decisions relating to the business strategies of the MLP.

 

(b)          Höegh
UK shall provide, or procure the provision of, the Operating Company Administrative Services to the Operating Company (acting
reasonably) and subject to the supervision of the Operating Company Board. Höegh UK may subcontract such part of the Operating
Company Administrative Services as it deems advisable or appropriate in its sole discretion and with the prior written consent
of the Operating Company; provided, however, that Höegh UK may only subcontract such portion of the Operating Company
Administrative Services to Höegh Norway or any other Norwegian entity as described in Schedule A of the Höegh
UK Administrative Services Agreement, with any amendment of such Schedule A to be approved by the Operating Company. Notwithstanding
any such subcontracting, Höegh UK shall remain responsible and primarily liable for the provision of the Operating Company
Administrative Services. For the avoidance of doubt, Höegh UK shall not take any decisions relating to the business strategies
of the Operating Company.

 

Section 3.          Subcontracting.
If the MLP, the Operating Company and Höegh UK agree that Höegh UK shall perform all or part of the Administrative Services,
the terms of such subcontracting arrangement will be as follows:

 

(a)          Höegh
UK shall comply with the covenants set out in Section 4, Section 5 and Section 12;

 

(b)          the
MLP or the Operating Company shall reimburse Höegh UK on a monthly basis in arrears for all costs and expenses reasonably
incurred by Höegh UK (the “Subcontractor Costs and Expenses”) in connection with the provision
of the Administrative Services for the preceding month;

 

(c)          the
MLP or the Operating Company shall pay to Höegh UK on a monthly basis in arrears a services fee equal to 5.00%
of the Subcontractor Costs and Expenses that relate to salary and benefits for the preceding month (the “Subcontractor
Services Fees”);

 

    	3

    	 

    

  

(d)          within
20 days after the end of each calendar month, Höegh UK shall submit to the Operating Company for payment an invoice
covering the Subcontractor Costs and Expenses and the Subcontractor Services Fees. Each invoice will contain such supporting detail
as may be reasonably required to validate such amounts due; and

 

(e)          the
MLP or the Operating Company shall make payment owed pursuant to this Section 2(a) promptly upon receipt
of each invoice (any such day on which a payment is due, a “Subcontractor Due Date”). All invoices for
the Subcontractor Costs and Expenses and the Subcontractor Services Fees will be submitted in and paid in U.S. Dollars. All
amounts not paid within 10 days after the Subcontractor Due Date bear interest at the rate of 3.00% per annum above the three-month
US$ LIBOR rate as at the Subcontractor Due Date from such Subcontractor Due Date until the date payment is received in
full by Höegh UK.

 

Section 4.          Covenants.
During the term of this Agreement, Höegh UK shall:

 

(a)          cause
those of its officers set forth on Schedule C and any other of its officers or employees as the MLP Board may from
time to time reasonably request (collectively, the “Managers”) to hold the positions, and provide the
services associated with such positions, set forth on Schedule C;

 

(b)          procure
that the Managers hold the positions, and provide the services associated with such positions, set forth on Schedule C
to the same level of skill and care as would be required of them by applicable law and the terms of the MLP Agreement if they
were Officers of the MLP;

 

(c)          perform,
or procure the performance of, the Administrative Services in a diligent manner;

 

(d)          retain,
or procure at all times the retention by any Person to whom performance of the Administrative Services is subcontracted from time
to time of, sufficiently qualified staff to provide the Administrative Services;

 

(e)          keep,
and procure the keeping by any Person to whom performance of the Administrative Services is subcontracted of, full and proper
books, records and accounts showing clearly all transactions relating to the provision of the Administrative Services in accordance
with established general commercial practices and in accordance with U.S. generally accepted accounting principles, and provide
or procure access to the MLP and the Operating Company and their representatives to audit and examine such books, records and
accounts at any time during customary business hours; and

 

(f)          comply,
and procure the compliance by any Person to whom performance of the Administrative Services is subcontracted, with all laws and
regulations applicable to the Parties, including, but not limited to, the U.S. Foreign Corrupt Practices Act 1977 and the
U.K. Bribery Act 2010 and any other anti-corruption legislation.

 

Section 5.          Exclusivity.
Höegh UK and its employees shall not, without the prior written consent of the MLP and the Operating Company (not to be unreasonably
withheld or delayed), provide services of a nature similar to the Administrative Services to any other Person.

 

    	4

    	 

    

  

Section 6.          Confidential
Information. Höegh UK shall, and shall procure that any Person to whom performance of any of the Administrative Services
is subcontracted, keep confidential, all information it has acquired or developed in the course of providing the Administrative
Services.

 

Section 7.          VAT.

 

(a)          All
amounts payable under this Agreement are deemed to be exclusive of VAT, which will be payable upon receipt of a valid VAT invoice,
if subject to VAT.

 

(b)          Where
this Agreement requires one Party to reimburse another for any costs or expenses, the payer shall, at the same time, pay the payee
all VAT incurred by the payee in respect of those costs or expenses. The amount payable will be the amount that the payee reasonably
determines is the amount that neither it, nor any other member of any group of which it is a member for VAT purposes, is entitled
to recover from the relevant tax authority in respect of the VAT.

 

Section 8.          General
Relationship Between the Parties. Höegh UK and any subcontractors shall perform the Administrative Services as independent
contractors and the Parties do not intend, and nothing herein will be interpreted so as, to create a partnership or joint venture
relationship or agency relationship between Höegh UK and any one or more of the MLP, the Operating Company, the General Partner
or any other member of the Partnership Group. Nothing in this Agreement creates any employment relationship between the MLP, on
the one hand, and the Managers or any other Person performing the Administrative Services, on the other.

 

Section 9.          Indemnity.
The MLP and the Operating Company shall indemnify and hold harmless any Person to whom provision of the Administrative Services
is subcontracted in accordance with the terms of this Agreement (including Höegh UK and its subcontractors) and their officers,
employees and agents against all actions, proceedings, claims, demands or liabilities that may be brought against them due to
the performance of the Administrative Services, including, without limitation, all actions, proceedings, claims, demands or liabilities
brought under the environmental laws of any jurisdiction, and against and in respect of all costs and expenses (including legal
costs and expenses on a full indemnity basis) they may suffer or incur due to defending or settling same; provided, however, that
such indemnity excludes any or all losses, actions, proceedings, claims, demands, costs, damages, expenses and liabilities whatsoever
to the extent that they are caused by or due to the fraud, willful misconduct or gross negligence of such subcontractor or its
officers, employees or agents. Any such subcontractor and each of its officers, employees and agents may enforce the provisions
of this Section 9 in accordance with the provisions of the Contracts (Rights of Third Parties) Act 1999.

 

Section 10.         Term
and Termination. This Agreement terminates on the fifth anniversary of the date at the head of this Agreement or if terminated:

 

(a)          by
the MLP Board and the board of directors of the Operating Company upon 90 days’ written notice for any reason in its
sole discretion; or

 

    	5

    	 

    

  

(b)          by
Höegh UK upon 90 days’ written notice if:

 

(i)          there
is a Change of Control of the MLP or the General Partner;

 

(ii)         a
receiver is appointed for all or substantially all of the property of the MLP or the Operating Company ;

 

(iii)        an
order is made to wind up the MLP or the Operating Company;

 

(iv)        a
final judgment, order or decree that materially and adversely affects the ability of the MLP or the Operating Company to perform
under this Agreement will have been obtained or entered against the MLP or the Operating Company, and such judgment, order or
decree will not have been vacated, discharged or stayed; or

 

(v)         the
MLP makes a general assignment for the benefit of its creditors, files a petition in bankruptcy or for liquidation, is adjudged
insolvent or bankrupt, commences any proceeding for a reorganization or arrangement of debts, dissolution or liquidation under
any law or statute or of any jurisdiction applicable thereto or if any such proceeding is commenced.

 

Notwithstanding the
foregoing and as provided in Schedule C, the arrangement with respect to the positions held, and the provision of services
associated with such positions, by any or all of the Managers may be terminated at any time with respect to any or all of such
Managers by the MLP Board in its sole discretion. Such positions, and the provision of services associated with such positions,
terminate immediately upon delivery by the MLP Board of written notice to the Operating Company. The termination of the positions
held, and the provision of services associated with such positions, by any or all of the Managers does not constitute a termination
of the other provisions of this Agreement.

 

Any termination of this
Agreement is without prejudice to any accrued rights and liabilities of any Party subsisting as at the date of termination. Notwithstanding
the termination of this Agreement, the provisions of Section 6, Section 9, Section 10, Section 11,
Section 12, Section 13, Section 14, Section 15, Section 17, Section 18
and Section 19 shall survive the termination and will remain in force and binding on the Parties.

 

Section 11.         Subcontractor
Costs and Expenses Upon Termination. Upon termination of this Agreement in accordance with Section 10, the MLP
and the Operating Company shall be obligated to pay any and all amounts payable pursuant to Section 3 for the applicable
Administrative Services provided prior to the time of termination.

 

Section 12.         Surrender
of Books and Records. Upon termination of this Agreement, Höegh UK shall forthwith surrender to the MLP and the Operating
Company, or procure the surrender to the MLP and the Operating Company, of any and all books, records, documents and other property
relating to this Agreement and to the business, finance, technology, trademarks or affairs of the MLP and any member of the Partnership
Group and, except as required by law, shall not retain any copies of same.

 

    	6

    	 

    

  

Section 13.         Entire
Agreement. This Agreement constitutes the entire agreement of the Parties relating to the matters contained herein, superseding
all prior contracts or agreements, whether oral or written, relating to the matters contained herein.

 

Section 14.         Severability.
If any provision of this Agreement or the application thereof to any Person or circumstance is held invalid or unenforceable to
any extent, the remainder of this Agreement and the application of such provision to other Persons or circumstances will not be
affected thereby and will be enforced to the greatest extent permitted by law.

 

Section 15.         Law
and Arbitration. This Agreement (including the agreement as to arbitration contained herein) and any dispute or claim arising
out of or in connection with it (including disputes as to regarding its existence, validity or termination) or its subject matter
or formation (including non-contractual disputes or claims) (a “Dispute”) will be governed by, and construed
in accordance with, the substantive laws of England and Wales without reference to any choice of law principle that would result
in the application of any other law.

 

The Parties specifically
acknowledge that the terms of this Agreement represent their sole and express intent, to the exclusion of any other intent, and
they specifically disclaim the application of any provision of the applicable law, legal doctrine, or principle that would permit
variance or avoidance of these terms.

 

Any Dispute will be
referred to and finally resolved by arbitration under the rules of arbitration of the London Court of International Arbitration
(the “LCIA”), which rules are deemed to be incorporated herein. The seat (or legal place) of arbitration
will be London, England. The language of the arbitration will be English.

 

The tribunal (the “Tribunal”)
will consist of one arbitrator. The Parties shall jointly nominate the sole arbitrator within 30 days of the request for arbitration.
If the Parties fail to agree on the sole arbitrator within such time, the LCIA court shall appoint the arbitrator on an expedited
basis.

 

Any award will be final
and binding on the Parties and may be confirmed in, and judgment upon the award entered by, any court having jurisdiction. The
Parties hereby waive any reference to the courts under Sections 45 and 69 of the Arbitration Act 1996.

 

The Tribunal shall render
a final award in any arbitration within six months of the appointment of the Tribunal by the LCIA court. This time limit
may only be extended with the consent of the Parties or by the Tribunal for good cause shown, provided, that no award will be
invalid even if it is not rendered within the time period herein specified, or not rendered within any extended period. At the
earliest opportunity, the Tribunal shall, in consultation with the Parties, set out a procedural timetable for the service of
pleadings and evidence. Any pleading or evidence served otherwise than in compliance with such timetable will be struck out by
the Tribunal, unless the submitting Party shows good cause for the deviation and has been granted an appropriate extension by
the Tribunal (ahead of the expiration of the relevant deadline), bearing in mind the effect such extension will or may have on
the case timetable.

 

    	7

    	 

    

  

The Parties agree that
there will be a presumption that there will be no disclosure or discovery of documents, save for the documents that each Party
intends to rely upon. To the extent that the Tribunal considers that it may be appropriate to order any document production beyond
this, it will be guided by the IBA Rules of the Taking of Evidence in International Commercial Arbitration in doing so.

 

The Parties agree that,
if any provision of this Agreement is not performed in accordance with its terms, irreparable damage may occur and, notwithstanding
this Section 15, the Party affected thereby is entitled to apply to the courts of England and Wales for an interim
injunction to prevent such breach, or continuing breach, of this Agreement and/or specific performance of the provisions hereof,
in addition to any other remedy available under English law, including those prescribed by Section 44 of the Arbitration
Act 1996. The Parties agree that any application to the courts of England and Wales made hereunder is one of urgency, and legal
proceedings may be immediately commenced in the English courts, notwithstanding that the arbitration procedure prescribed in this
Section 15 has not yet been initiated. Any injunction or order so issued will be enforceable in any court having jurisdiction
over any Party.

 

Section 16.         Notice.
Notice under this Agreement will be given (via hand delivery or facsimile) as follows:

 

If to the MLP:

 

Attn: Richard Tyrrell

c/o Hoegh LNG Services Ltd

150 Minories

London, England, United Kingdom

EC3N 1LS

Telephone: +44 207 347 5396

Fax: +44 207 347 5405

 

If to the Operating Company:

 

Attn: Richard Tyrrell

c/o Hoegh LNG Services Ltd

150 Minories

London, England, United Kingdom

EC3N 1LS

Telephone: +44 207 347 5396

Fax: +44 207 347 5405

 

    	8

    	 

    

  

If to Höegh UK:

 

Attn: Richard Tyrrell

Hoegh LNG Services Ltd

150 Minories

London, England, United Kingdom

EC3N 1LS

Telephone: +44 207 347 5396

Fax: +44 207 347 5405

 

Section 17.         Variation.
Any variation to this Agreement will not be effective unless it is made in writing and signed by all of the Parties.

 

Section 18.         Waiver.
The failure of either Party to enforce any term of this Agreement does not act as a waiver. Any waiver must be specifically stated
as such in writing.

 

Section 19.         Assignment.
No Party is permitted to assign or otherwise dispose of the benefit of this Agreement without the prior written consent of the
other Parties. This Agreement is binding upon and inure to the benefit of the Parties’ successors and assigns.

 

Section 20.         Third
Parties. Save as expressly provided by this Agreement, a Person who is not a Party has no right to enforce or to receive the
benefit of this Agreement under the Contracts (Rights of Third Parties) Act 1999. Notwithstanding the foregoing, the Parties may
terminate, rescind or agree to any variation, waiver or settlement under this Agreement without the consent of any other Person.

 

Section 21.         Counterparts.
This Agreement may be executed in any number of counterparts with the same effect as if all signatory Parties had signed the same
document. All counterparts are to be construed together and constitute one and the same instrument.

 

[THE REMAINDER OF THIS PAGE IS LEFT
INTENTIONALLY BLANK]

 

    	9

    	 

    

  

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

 

	 	HÖegh
    lng partners lp
	 	 	 
	 	By:	/s/ Richard Tyrrell
	 	 	Name:  Richard Tyrrell
	 	 	Title:  CEO/CFO
	 	 	 
		HÖEGH LNG Partners Operating LLC
	 	 	 
		By:	/s/ Richard Tyrrell
	 		Name: Richard Tyrrell
	 		Title: CEO/CFO
	 	 	 
		Hoegh
    LNG Services Ltd
	 	 	 
		By:	/s/ Richard Tyrrell
	 		Name: Richard Tyrrell
	 		Title: Director

 

Signature
Page to the

Administrative Services Agreement

among
the MLP, the Operating Company and Höegh UK

 

    	 

    	 

    

  

SCHEDULE A

 

MLP ADMINISTRATIVE
SERVICES

 

Höegh UK shall
provide, or subcontract the provision of, such of the following administrative services (the “MLP Administrative Services”)
to the MLP, as the MLP Board may from time to time request and direct Höegh UK to provide pursuant to this Agreement:

 

(a)          Assist
with the commercial management of the MLP and the execution of the business strategies of the MLP and investment decisions taken
by the MLP Board, provided, that nothing herein permits or authorizes Höegh UK to make any strategic or investment decisions
for or on behalf of the MLP;

 

(b)          Keep
and maintain at all times books, records and accounts that contain particulars of receipts and disbursements relating to the assets
and liabilities of the MLP, and such books, records and accounts will be kept pursuant to normal commercial practices that permit
the MLP to prepare or cause to be prepared financial statements in accordance with U.S. generally accepted accounting principles
and in each case will also be in accordance with those financial statements required to be kept by the MLP under applicable federal
securities laws and regulations in the United States and as the MLP is required to keep and file under applicable foreign taxing
regulations and the U.S. Internal Revenue Code of 1986, as amended, and the regulations applicable with respect thereto,
all as amended from time to time, provided that any register of members of the MLP shall be kept outside the United Kingdom;

 

(c)          Prepare
all such returns, filings and documents, for review and approval by the MLP as may be required under the MLP Agreement, as well
as such other returns, filings, documents and instruments as may from time to time be requested or instructed by the MLP, and
file such documents, as applicable, as directed by the MLP with the relevant authority;

 

(d)          Provide,
or arrange for the provision of, advisory services to the MLP with respect to the MLP’s obligations under applicable securities
laws and regulations in the United States and assist the MLP in arranging for compliance with continuous disclosure obligations
under applicable securities laws and regulations and the rules and regulations of the New York Stock Exchange, the U.S. Securities
and Exchange Commission and the Sarbanes–Oxley Act of 2002 and any other securities exchange upon which the MLP’s
securities are listed, including the preparation for review, approval and filing by the MLP of reports and other documents with
all applicable regulatory authorities, provided, that nothing herein permits or authorizes Höegh UK to act for or on behalf
of the MLP in its relationship with regulatory authorities, except to the extent that specific authorization may from time to
time be given by the MLP;

 

(e)          Provide,
or arrange for the provision of, advisory, clerical and investor relations services to assist and support the MLP, attending roadshows
and promoting investment in the MLP, planning and executing investor relations activities and communications with potential investors,
the financial community and the Unitholders, including in connection with disclosures that may be required for regulatory compliance
to the Unitholders and the wider financial markets, as the MLP may from time to time request or direct, provided, that nothing
herein permits or authorizes Höegh UK to determine the content of any such communications by the MLP to the Unitholders and
the wider financial markets;

 

    	A-1

    	 

    

  

(f)          At
the request and under the direction of the MLP, handle, or arrange for the handling of, all administrative and clerical matters
in respect of (i) the call and arrangement of all meetings of the Unitholders pursuant to the MLP Agreement, (ii) the
preparation of all materials (including notices of meetings and information circulars) in respect thereof and (iii) the submission
of all such materials to the MLP in sufficient time prior to the dates upon which they must be mailed, filed or otherwise relied
upon so that the MLP has full opportunity to review, approve, execute and return them to Höegh UK for filing or mailing or
other disposition as the MLP may require or direct;

 

(g)          Provide,
or arrange for the provision of, or secure sufficient and necessary office space, equipment and personnel, including all accounting,
clerical, secretarial, corporate, administrative and information technology services, as may be reasonably necessary for the performance
of the MLP’s business (outside the United Kingdom);

 

(h)          Arrange
for the provision of such audit, accounting, legal, insurance and other professional services as are reasonably required by the
MLP from time to time in connection with the discharge of its responsibilities under the MLP Agreement (including the review of
quarterly and annual reports), to the extent such advice and analysis can be reasonably provided or arranged by Höegh UK,
provided, that nothing herein permits or authorizes Höegh UK to select the auditor of the MLP, which will be selected in
accordance with the provisions for the appointment of the auditor pursuant to the MLP Agreement or as otherwise required by law
governing the MLP, or to communicate with the auditor other than in the ordinary course of making such books and records available
for review as the auditor may require and to respond to queries from the auditor with respect to the accounts and statements prepared
by, or arranged by, Höegh UK, and in particular Höegh UK shall not have any of the authorities, rights or responsibilities
of the audit committee of the MLP Board, but shall provide, or arrange for the provision of, information to such committee as
may from time to time be required or requested, and provided further, that nothing herein entitles Höegh UK to retain legal
counsel for the MLP unless such selection is specifically approved by the MLP Board;

 

(i)          Provide,
or arrange for the provision of, such assistance and support as the MLP may from time to time request in connection with any new
or existing capitalization or financing of the MLP, including executing bank financing and capital markets transactions, such
assistance and support to be provided in accordance with the direction, and under the supervision, of the MLP Board, provided
that Höegh UK shall not take any decision on entering into such transactions;

 

(j)          Provide,
or arrange for the provision of, such administrative and clerical services as may be required by the MLP to support and assist
the MLP in considering any future acquisitions or divestments of assets of the MLP and for the integration of any businesses or
assets acquired by the MLP, all in accordance with the direction and under the supervision of the MLP Board;

 

    	A-2

    	 

    

  

(k)          Provide,
or arrange for the provision of, such support and assistance to the MLP as the MLP may from time to time request in connection
with any future offerings of equity or debt securities that the MLP may at any time determine is desirable for the MLP, all under
the direction and supervision of the MLP Board;

 

(l)          Provide,
or arrange for the provision of, at the request and under the direction of the MLP Board, such communications to the transfer
agent for the MLP as may be necessary or desirable;

 

(m)          Prepare
and provide, or arrange for the preparation and provision of, regular cash reports and other accounting information for review
by the MLP, so as to permit and enable the MLP Board to make all determinations of financial matters required to be made pursuant
to the MLP Agreement, including the determination of amounts available for distribution by the MLP to the Unitholders, and to
assist the MLP in making arrangements with the transfer agent for the MLP for the payment of distributions to the Unitholders
in accordance with the MLP Agreement;

 

(n)          Provide,
or arrange for the provision of, such assistance to the MLP as the MLP Board may request or direct with respect to the performance
of the obligations to the Unitholders under the MLP Agreement and to provide monitoring of various obligations and rights under
agreements entered into by the MLP and to provide advance reports on a timely basis to the MLP advising of steps, procedures and
compliance issues under such agreements, so as to enable the MLP to make all such decisions as would be necessary or desirable
thereunder;

 

(o)          Provide,
or arrange for the provision of, such additional administrative and clerical services pertaining to the MLP, the assets and liabilities
of the MLP and the Unitholders and matters incidental thereto as may be reasonably requested by the MLP Board from time to time;

 

(p)          Negotiate
and arrange, at the request and under the direction of the MLP Board, for interest rate swap agreements, foreign currency contracts,
forward exchange contracts and any other hedging arrangements, provided that Höegh UK shall not have authority to execute
such agreements;

 

(q)          Provide,
or arrange for the provision of, information technology services;

 

(r)          Maintain,
or arrange for the maintenance of, the MLP’s and the MLP’s subsidiaries’ existence and good standing in necessary
jurisdictions;

 

(s)          Monitor
and maintain compliance with loan and credit terms with lenders; and

 

(t)          Provide,
or arrange for the provision of, at the request and under the direction of the MLP Board, cash management and services, including
assistance with preparation of budgets, overseeing banking services and bank accounts and arranging for the deposit of funds.

 

    	A-3

    	 

    

  

SCHEDULE B

 

Operating
Company ADMINISTRATIVE SERVICES

 

Höegh UK shall
provide, or subcontract the provision of, such of the following administrative services (the “Operating Company Administrative
Services”) to the Operating Company, as the board of directors of the Operating Company may from time to time request
and direct Höegh UK to provide pursuant to this Agreement:

 

(a)          Provide,
or arrange for the provision of, advice on cash management and services;

 

(b)          Arrange
for the preparation and provision of regular cash reports and other accounting information for review by the Operating Company,
so as to permit and enable the board of directors of the Operating Company to make the determination of amounts available for
distribution by the Operating Company to the MLP; and

 

(c)          Provide,
or arrange for the provision of, advice on financing and other agreements into which the Operating Company is considering entering.

 

    	B-1

    	 

    

  

SCHEDULE C

 

MANAGERS

 

	 

        Name
	 	Position with the

        Operating Company
	 	Position with the MLP
	 	 	 	 	 
	Richard Tyrrell	 	Chief Executive Officer and

 Chief Financial Officer	 	Chief Executive Officer and Chief

 Financial Officer

 

    	C-1

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