Document:

Exhibit 10.55

AKAMAI TECHNOLOGIES, INC.
CHANGE IN CONTROL AND SEVERANCE AGREEMENT

This Change in Control and Severance Agreement (the “Agreement”) is made and entered into by and between ______________________________ (the “Executive”) and Akamai Technologies, Inc. (the “Company”), effective as of the last date set forth by the signatures of the parties below (the “Effective Date”).

RECITALS

A.    It is expected that the Company from time to time will consider the possibility of its acquisition by another company or another Change in Control Event (as defined below).  The Board of Directors of the Company, acting through its Compensation Committee (the “Board”), recognizes that such consideration, and the possibility that the Executive's employment could be terminated by the Company for a reason other than for Cause following such a transaction, can be distractions to the Executive and can cause the Executive to consider alternative employment opportunities.  The Board has determined that it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication and objectivity of the Executive, notwithstanding the possibility, threat or occurrence of a Change in Control Event.

B.    The Board believes that it is in the best interests of the Company and its stockholders to provide the Executive with an incentive to continue his or her employment with the Company, or a wholly-owned subsidiary of the Company, as the case may be, and to motivate the Executive to maximize the value of the Company upon a Change in Control Event for the benefit of its stockholders.

C.    The Board believes that it is imperative to provide the Executive with certain benefits upon a Change in Control Event or the termination of the Executive's employment following a Change in Control Event for a reason other than Cause, thereby encouraging the Executive to remain with the Company notwithstanding the possibility of a Change in Control Event or termination of employment thereafter for a reason other than for Cause.

The Company and the Executive hereby agree as follows:

1.    Term of Agreement.  This Agreement shall terminate upon the date that all obligations of the Company and the Executive with respect to this Agreement have been satisfied.

2.    At-Will Employment.  The Company and the Executive acknowledge that the Executive's employment is and shall continue to be at-will, as defined under applicable law, and may be terminated at any time by either party, with or without cause.

3.    Effect of a Change in Control Event.

If the Executive is employed by the Company as of the date of a Change in Control Event and at such time participates in the executive compensation program overseen by the Compensation Committee of the Board of Directors of the Company, then effective immediately prior to the occurrence of such Change in Control Event, the Executive shall be entitled to pro-rated vesting of any then-unvested restricted stock units or similar equity awards the vesting of which is subject to the achievement of performance targets (“Performance RSUs”) as follows:  the number of Performance RSUs that vest shall be equal to 100% of the then-outstanding number of unvested RSUs issuable upon achievement of target level performance of applicable metrics, pro-rated based on the percentage of the vesting period that has elapsed as of the closing date of the Change in Control Event since the grant date of the Performance RSUs (e.g., if the closing date of the Change in Control Event were April 1, 2020 and the vesting date for a three year vesting period was October 1, 2021, then the number of Performance RSUs that vest would be 50% of the Performance RSUs that would vest at target performance (18 months/36 months = 50%)). 

4.    Effect of Termination Following a Change in Control Event.  

(a)    If the Executive is employed by the Company as of the date of a Change in Control Event 

and at such time participates in the executive compensation program overseen by the Compensation Committee of the Board of Directors of the Company, and within one year of the Change in Control Event the Executive's employment is terminated by the surviving entity for any reason other than for Cause, including the Executive's voluntary termination for Good Reason, then the Executive shall be entitled to:

		
	(i)
	full acceleration of the vesting of the Executive's stock options so that all of such stock options become 100% vested; 

		
	(ii)
	full acceleration of the vesting of the Executive's RSUs or similar equity awards to the extent that the vesting conditions in place at the time of the Change in Control Event are based solely on the continued employment at the Company or its successor so that all of such RSUs become 100% vested; and

		
	(iii)
	severance pay and benefits, all of which shall be paid less applicable withholdings for taxes and other deductions required by law, consisting of:

(A)A lump sum payment equal to one year of the Executive's then-current base salary;

(B)    A lump sum payment equal to the annual incentive bonus at target that would have been payable to the Executive under the Company's Executive Bonus Plan in effect immediately before the Change in Control Event, if any, in the year of the Executive's termination had both the Company and the Executive achieved the target bonus objectives set forth in such Executive's Bonus Plan during such year; and

(C)    Reimbursement for up to 12 months of the amount paid by the Executive for continued health and dental insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA).  In order to receive this benefit, the Executive must timely elect COBRA continuation coverage in accordance with the Company's or surviving entity's usual COBRA procedures. If you are not employed in the United States such that COBRA is inapplicable to you, you shall be entitled to an equivalent amount of health and dental benefits under procedures that are applicable under the laws of the country of which you are resident or, absent any applicable laws, procedures substantially equivalent to COBRA procedures.
Subject to Section 5 below, the payments and benefits described in Section 4(a)(iii) above shall be provided within five days after the Executive's termination of employment; vesting acceleration shall be effective immediately upon termination of employment.  The Executive's acceptance and receipt of the benefits set forth in this Section 4 shall represent full accord and satisfaction of all claims by the Executive related to his or her termination of employment.

(b)    If the Executive is employed by the Company as of the date of a Change in Control Event but at such time is not a participant  in the executive compensation program overseen by the Compensation Committee of the Board of Directors of the Company and his or her employment with the Company terminates following a Change in Control Event, then (i) the treatment of equity awards held by the Executive shall be as set forth in the grant agreements entered into with the Company governing such awards and (ii) and the Executive shall be entitled to such other benefits to which he or she is eligible under non-executive severance plans, if any, the Company has in place at such time.

5.    Compliance with Section 409A.   Subject to the provisions in this Section 5, any severance payments or benefits under Section 4 of this Agreement shall begin only upon the date of the Executive's  “separation from service” (determined as set forth below) which occurs on or after the date of termination of the Executive's employment.  The following rules shall apply with respect to distribution of the payments and benefits, if any, to be provided to the Executive under Section 4 of this Agreement:
 

(a)    It is intended that each installment of the severance payments and benefits provided under this Agreement shall be treated as a separate “payment” for purposes of Section 409A of the Code and the guidance issued thereunder (“Section 409A”).  Neither the Executive nor the Company shall have the right to accelerate or defer the delivery of any such payments or benefits except to the 
extent specifically permitted or required by Section 409A.

(b)    If, as of the date of the Executive's “separation from service” from the Company, the Executive is not a “specified employee” (within the meaning of Section 409A), then each installment of the severance payments and benefits shall be made on the dates and terms set forth in Section 4.

(c)    If, as of the date of the Executive's “separation from service” from the Company, the Executive is a “specified employee” (within the meaning of Section 409A), then:

(i)    Each installment of the severance payments and benefits due under this Agreement that, in accordance with the dates and terms set forth herein, will in all circumstances, regardless of when the separation from service occurs, be paid within the period of time permitted under Section Treasury Regulation Section 1.409A-1(b)(4) shall be treated as a short-term deferral within the meaning of such Section to the maximum extent permissible; and

(ii)    Each installment of the severance payments and benefits due under Section 4 that is not described in Section 5(c)(i) above and that would, absent this subsection, be paid within the six-month period following the Executive's “separation from service” from the Company shall not be paid until the date that is six months and one day after such separation from service (or, if earlier, the Executive's death), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following your separation from service and any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any installment of severance payments and benefits if and to the maximum extent that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating to separation pay upon an involuntary separation from service).  Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of the second taxable year following the taxable year in which the separation from service occurs.

(d)    The determination of whether and when the Executive's separation from service from the Company has occurred shall be made and in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h).  Solely for purposes of this Section 5(d), “Company” shall include all persons with whom the Company would be considered a single employer under Section 414(b) and 414(c) of the Code.

(e)    All reimbursements and in-kind benefits provided this Agreement shall be made or provided in accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A, including, where applicable, the requirements that (i) any reimbursement is for expenses incurred during the Executive's lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set off or liquidation or exchange for any other benefit.

(f)    Notwithstanding anything herein to the contrary, the Company shall have no liability to the Executive or to any other person if the payments and benefits provided in this Agreement that are intended to be exempt from or compliant with Section 409A are not so exempt or compliant.  

6.    Definitions.

(a)For the purposes of this Agreement, “Change in Control Event” is defined as set 

forth in Section 9(c)(1)(b) of the Akamai Technologies, Inc. 2009 Stock Incentive Plan as in effect on the Effective Date, which definition is incorporated herein by reference.

(b)For the purposes of this Agreement, “Cause” is defined as (i) any act or omission by the Executive that has a significant adverse effect on Akamai's business or on the Executive's ability to perform services for Akamai, including, without limitation, the commission of any crime (other than ordinary traffic violations), or (ii) refusal or failure to perform assigned duties, serious misconduct, or excessive absenteeism, or (iii) refusal or failure to comply with Akamai's Code of Business Ethics.

(c)For the purposes of this Agreement, “Good Reason” is defined as (i) a material reduction in the Executive's compensation and benefits (including without limitation any bonus plan or indemnity agreement) not agreed to in writing by the Executive; (ii) the assignment to the Executive of duties and/or responsibilities that are materially inconsistent with those associated with the Executive's position; or (iii) a requirement, not agreed to in writing by the Executive, that the Executive relocate to, or perform his or her principal job functions at, an office that is more than twenty-five (25) miles from the office at which the Executive was previously performing his or her principal job functions.

7.    Successors.

(a)    Company's Successors.  Any successor to the Company (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company's business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession.  For all purposes under this Agreement, the term “Company” shall include any successor to the Company's business and/or assets which executes and delivers the assumption agreement described in this Section 7(a), or which becomes bound by the terms of this Agreement by operation of law.
 
(b)    Executive's Successors.  The terms of this Agreement and all rights of the Executive hereunder shall inure to the benefit of, and be enforceable by, the Executive's personal or legal representatives, executors, administrators, heirs, distributees, devisees and legatees.

8.    Miscellaneous Provisions.

(a)    Waiver.  No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Executive and by an authorized officer of the Company (other than the Executive).  No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

(b)    Whole Agreement.  

(i)No agreements, representations or understandings (whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter hereof.

(ii)This Agreement represents the entire understanding of the Company and the Executive with respect to the effect of a Change in Control on equity held by the Executive and the effect of a termination of employment following a Change in Control Event; therefore, this Agreement supersedes all prior and future agreements, arrangements and understandings regarding such subject matter except that (A) this Agreement shall not be deemed to terminate or replace provisions that relate to the effect of a termination of employment following a Change in Control Event in RSU agreements entered into with the Executive prior to the Effective Date and (B) this Agreement shall not be deemed to terminate or replace, but shall be deemed to supplement, provisions in stock option grant agreements entered into 

with the Executive prior to the Effective Date that relate to the effect of a termination of employment following a Change in Control Event.

(iii)If equity award vesting acceleration is triggered and severance is paid pursuant to this Agreement, the Executive acknowledges and agrees that he or she shall not be entitled to any additional or duplicative equity award vesting or severance payment pursuant to any prior agreement, arrangement or understanding or pursuant to any other severance pay plan, including, but not limited to, the Akamai Technologies, Inc. Executive Severance Pay Plan and Summary Plan Description.

(c)    Choice of Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the Commonwealth of Massachusetts.

(d)    Severability.  The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.

(e)    Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.

(f)    Term.  This Agreement shall have an initial term of three (3) years from the Effective Date and automatically renews for successive terms of two (2) years unless either party notifies the other of its intent to not renew at least six (6) months prior to the expiration of the applicable term; provided, however, that in the event of a Change in Control, if the term is scheduled to expire within one  year following the Change in Control, the term shall automatically be extended to 30 days following the first anniversary of the Change in Control.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year set forth below.

AKAMAI TECHNOLOGIES, INC.            EXECUTIVE

____________________________________        __________________________________
Signature                        Signature

Paul Sagan                        __________________________________
Print Name

____________________________________
President and CEO
            
Dated:  _____________, 20__Ex 10.1 Bonus Plan Grant

Exhibit 10.1
2011-2013 Bonus Plan Long-Term Commercial Award
US - Executive Form 
CHENIERE ENERGY, INC.
LONG-TERM COMMERCIAL CASH AWARD

1.CASH AWARD.  Cheniere Energy, Inc., a Delaware corporation (the “Company”) hereby awards ______________________ (“Participant”) a cash bonus in the amount of $___________ as a Long-Term Commercial Cash Award (the “Award”) pursuant to and as described in the Long-Term Commercial Bonus Pool portion of the Cheniere Energy, Inc. 2011-2013 Bonus Plan (the “Bonus Plan”), effective as of _____________, 2012 (the “Award Date”).  The Award is subject to the terms and conditions of the Bonus Plan and this Award document; provided, however, that in the event of a conflict between any provision of the Bonus Plan and this Award document, the provisions of this Award document shall control.  The Award is not vested as of the Award Date, but may become vested and payable as provided herein.  

2.DEFINITIONS.  As used herein, unless the context requires otherwise, the following terms shall have the meanings indicated below.  

(a)“Cause” means termination of employment with the Company or an Affiliate by the Company or such Affiliate under any of the following circumstances:

(i)the willful commission by Participant of a crime or other act of misconduct that causes or is likely to cause substantial economic damage to the Company or an Affiliate or substantial injury to the business reputation of the Company or Affiliate; 

(ii)the commission by Participant of an act of fraud in the performance of Participant's duties on behalf of the Company or an Affiliate; 

(iii)the willful and material violation by Participant of the Company's Code of Business Conduct and Ethics Policy; or

(iv) the continuing and repeated failure of Participant to perform the duties of Participant to the Company or an Affiliate, including by reason of Participant's habitual absenteeism (other than such failure resulting from Participant's incapacity due to physical or mental illness), which failure has continued for a period of at least thirty days following delivery of a written demand for substantial performance to Participant by the Board which specifically identifies the manner in which the Board believes that Participant has not performed his or her duties.  

(b)“Change of Control” means the occurrence during the term hereof of any of the following events:
(i)any “person” (as defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and as modified in Section 13(d) and 14(d) of the Exchange Act) other than (A) the Company or any of its subsidiaries, (B) any employee benefit plan of the Company or any of its subsidiaries, (C) any Affiliate (as defined in the Cheniere Energy, Inc. 2011 Incentive Plan), (D) a company owned, directly or indirectly, by stockholders of the Company, or (E) an underwriter temporarily holding securities pursuant to an offering of such securities, becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the shares of voting stock of the Company then outstanding;

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(ii)the consummation of any merger, organization, business combination or consolidation of the Company or one of its subsidiaries with or into any other company, other than a merger, reorganization, business combination or consolidation which would result in the holders of the voting securities of the Company outstanding immediately prior thereto holding securities which represent immediately after such merger, reorganization, business combination or consolidation more than 50% of the combined voting power of the voting securities of the Company or the surviving company or the parent of such surviving company;

(iii)individuals who, as of the Award Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Award Date whose election by the Board, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an election contest with respect to the election or removal of directors or other solicitation of proxies or consents by or on behalf of a person other than the Board; or 

(iv)the consummation of a sale or disposition by the Company of all or substantially all of the Company's assets, other than a sale or disposition if the holders of the voting securities of the Company outstanding immediately prior thereto hold securities immediately thereafter which represent more than 50% of the combined voting power of the voting securities of the acquiror, or parent of the acquirer, of such assets. 

(c) “Code” means the Internal Revenue Code of 1986, as amended, and any successor statute.  Reference in the Award to any section of the Code shall be deemed to include any amendments or successor provisions to such section and any Treasury regulations promulgated under such section.

(d)“Disability” means the “disability” of a person as defined in a then effective long-term disability plan maintained by the Company that covers such person or, if such a plan does not exist at any relevant time, the permanent and total disability of a person within the meaning of Section 22(e)(3) of the Code.  Section 22(e)(3) of the Code provides that an individual is totally and permanently disabled if he is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months.  

(e)“Good Reason” means termination of employment with the Company or an Affiliate by Participant under any of the following circumstances, if the Company or such Affiliate fails to cure such circumstances within thirty (30) days after receipt of written notice from Participant (the “Cure Period”) to the Company or such Affiliate setting forth a description of such Good Reason (which notice shall be provided by the Participant to the Company or such Affiliate within thirty (30) days following the occurrence of one or more of the following circumstances):

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(i)the removal from or failure to re-elect Participant to the office or position in which he or she last served;

(ii)the assignment to Participant of any duties, responsibilities, or reporting requirements materially inconsistent with his or her position with the Company or such Affiliate, or any material diminishment, on a cumulative basis, of Participant's overall duties, responsibilities, or status;

(iii)a material reduction by the Company or such Affiliate in Participant's annual base salary; or

(iv)the requirement by the Company or such Affiliate that the principal place of business at which Participant performs his or her duties be changed to a location more than fifty (50) miles from his or her current place of business. 

In the event that the Company or such Affiliate fails to remedy the condition constituting Good Reason during the applicable Cure Period, the Participant's “separation from service” (within the meaning of Section 409A of the Code) must occur, if at all, within ninety (90) days following such Cure Period in order for such termination as a result of such condition to constitute a termination for Good Reason.  
3.VESTING.  Subject to Section 4 hereof, the Award shall vest, subject to the Participant's continued employment with the Company or an Affiliate through the applicable vesting date, in five equal installments as follows (subject to the final sentence in this paragraph): (i) 20 percent of the Award will vest on the day (the “Initial Vesting Date”) construction commences on the Sabine Pass liquefaction project (the “Project”) (for these purposes construction shall be deemed to have commenced on the date Sabine Pass Liquefaction, LLC delivers full notice to proceed to Bechtel Oil, Gas and Chemicals, Inc. under the Engineering, Procurement and Construction Agreement, dated November 11, 2011 by and between Sabine Pass Liquefaction, LCC and Bechtel Oil, Gas and Chemicals, Inc.), (ii) an additional 20 percent of the Award will vest on the first anniversary of the Initial Vesting Date, (iii) an additional 20 percent of the Award will vest on the second anniversary of the Initial Vesting Date, (iv) an additional 20 percent of the Award will vest on the third anniversary of the Initial Vesting Date and (v) the remaining portion of the Award will vest on the fourth anniversary of the Initial Vesting Date.  If Participant's employment with the Company or an Affiliate terminates for any reason, any portion of the Award not then vested shall not vest and shall immediately be forfeited, except as provided otherwise in Section 4 hereof.  Notwithstanding anything herein to the contrary, in the event that full notice to proceed is not delivered within one (1) calendar year of the Award Date, then the Award will be forfeited back to the Company.

4.SPECIAL VESTING EVENTS.  Notwithstanding the general vesting provisions of Section 3, the Award shall immediately vest in full upon the occurrence of any of the following events, subject to the Participant's continued employment with the Company or an Affiliate through the applicable event: (i) the Company or an Affiliate terminates Participant's employment without Cause, (ii) Participant terminates his or her employment with the Company or an Affiliate for Good Reason, (iii) Participant dies or incurs a Disability or (iv) a Change of Control.  

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5.PAYMENT OF AWARD.  The portion of the Award that becomes vested pursuant to Section 3 hereof shall be paid on the applicable annual vesting date in an amount equal to the portion of the Award that became vested on that date (but in no event later than two and a half months after the end of the calendar year in which the applicable annual vesting date occurs).  If the Award becomes vested pursuant to Section 4 hereof, the Award (or portion thereof that becomes vested) will be paid in a single sum payment on the date of the applicable vesting event (but in no event later than two and a half months after the end of the calendar year in which the applicable vesting event occurs), subject to Section 14 hereof.  

6.PAYMENT TO REPRESENTATIVE.  The Participant may appoint any individual or legal entity in writing as his or her beneficiary to receive any amount payable under the Award (to the extent not previously terminated or forfeited) upon the Participant's death or becoming subject to a Disability.  The Participant may revoke his or her designation of a beneficiary at any time and appoint a new beneficiary in writing.  To be effective, the Participant must complete the designation of a beneficiary or revocation of a beneficiary by written notice to the Company before the date of the Participant's death or Disability.  If an amount is payable under the Award as a result of Participant's death, the amount shall be paid to Participant's estate. 
 
7.NONASSIGNABLE.  No moneys or other property of the Company or obligation or liability of the Company under the Award whether accrued or determined or a determinable amount shall be subject to any claim of any creditor of Participant, Participant's spouse, Participant's beneficiary or Participant's representative under Section 6 above.  Neither Participant nor Participant's beneficiary nor any of Participant's representatives under Section 6 above shall have any right to alienate, anticipate, commute, pledge or assign any right or interest under the Award or any payment due Participant, Participant's beneficiary or any of Participant's representatives under Section 6 under the terms of the Award until the same has actually been paid and delivered to Participant, Participant's beneficiary or Participant's representatives under Section 6.  Any purported assignment or delegation by the Participant in violation of the foregoing shall be null and void ab initio and of no force and effect.  The Company may assign this Award to a person or entity that is an Affiliate of the Company or to any successor to all or substantially all of the business and/or assets of the Company, which assumes in writing, or by operation of law, the obligations of the Company hereunder.

8.PAYMENT FROM GENERAL FUNDS.  Nothing contained in the Award and no action taken pursuant to the provisions of the Award shall create or be construed to create a trust of any kind, or a fiduciary relationship between the Company and Participant, or Participant's designee or any other person.  Any funds which may be paid at some future time under the Award shall for all purposes be a part of the general funds of the Company and no person other than the Company shall by virtue of the provisions of the Award have any interest in such funds.  To the extent that any person acquires a right to receive payment from the Company under the Award, such rights shall be no greater than the rights of any unsecured general creditor of the Company.  The Award is not intended to be subject to the Employee Retirement Income Security Act of 1974, as amended.

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9.INTERPRETATION.  The Company, acting through the Compensation Committee of the Board, shall have full power and authority to interpret, construe, and administer the Award. The Company's interpretations and construction hereof, and actions hereunder, shall be binding and conclusive on all persons for all purposes.  The Company shall not be liable to any person for any action taken or omitted in connection with the interpretation and administration of the Award unless attributable to the Company's own willful misconduct.  

10.TAX WITHHOLDING.  All payments under the terms of the Award shall be subject to, and reduced by, the amount of all federal, state and local income, employment and other taxes required to be withheld by the Company in connection with such payments.  The Company shall have the right to take any action as may be necessary or appropriate to satisfy any federal, state or local tax withholding obligations.

11.GOVERNING LAW.  Nothing in the Award (except as expressly provided herein) is intended to confer any rights or remedies on any person other than the Company and Participant (collectively, the “Parties”).  The Award is to be construed in accordance with and governed by the internal laws of the State of Delaware, without giving effect to any choice-of-law rule that would cause the application of the laws of any jurisdiction other than the internal laws of the State of Delaware to the rights and duties of the Parties.  Should any provision of the Award be determined by a court of law to be illegal or unenforceable, such provision shall be enforced to the fullest extent allowed by law and the other provisions shall nevertheless remain effective and shall remain enforceable.  

12.INTERPRETIVE MATTERS.  Whenever required by the context, pronouns and any variation thereof shall be deemed to refer to the masculine, feminine, or neuter, and the singular shall include the plural, and vice versa.  The captions and headings used in the Award are inserted for convenience and shall not be deemed a part of the Award granted hereunder for construction or interpretation.

13.AMENDMENT; WAIVER.  This Award constitutes the entire agreement by the Participant and the Company with respect to the subject matter hereof, and supersedes any and all prior agreements or understandings between the Participant and the Company with respect to the subject matter hereof, whether written or oral.  The Award may be amended or modified only by means of a written document or documents signed by the Company and Participant.  Any provision for the benefit of the Company contained in the Award may be waived in writing, either generally or in any particular instance, by the Company.  A waiver on one occasion shall not be deemed to be a waiver of the same or any other breach on a future occasion.

14.SECTION 409A.  The Award is intended to be written, administered, interpreted and construed in a manner such that no payment or benefits provided under the Award become subject to (i) the gross income inclusion set forth within Section 409A(a)(1)(A) of the Code or (ii) the interest and additional tax set forth within Section 409A(a)(1)(B) of the Code (collectively, “Section 409A Penalties”), including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties; provided, however, that the Company makes no commitment or guarantee to Participant that any federal or state tax treatment will apply or be available to any person eligible for benefits under the Award, including without limitation, by reason of the application of Section 409A of the Code.  All payments under the Award are intended to be excluded from or to comply with the requirements of Section 409A of the Code and the Award shall be interpreted accordingly.  To the extent that the Award is subject to Section 409A of the Code, notwithstanding the other provisions hereof, all provisions herein, or incorporated by reference, shall be construed and interpreted to comply with Section 409A of the Code.  For purposes of Section 409A of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), each payment that Participant may be eligible to receive under the Award shall be treated 

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as a separate and distinct payment and shall not collectively be treated as a single payment.  Notwithstanding any provision contained in the Bonus Plan or this Award to the contrary, to the extent that the Award is subject to Section 409A of the Code, the Award shall not be paid in connection with the termination of the Participant's employment with the Company or an Affiliate unless such termination of employment constitutes a “separation from service” as such term is defined under Treasury Regulation Section 1.409A-1(h) and any successor provision thereto (“Separation from Service”).  Notwithstanding any other provision herein, if the Company determines that (i) at the time of the Participant's Separation from Service the Participant is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code and (ii) any payments to be provided to the Participant pursuant to the Award are or may become subject to the additional tax under Section 409A(a)(1)(B) of the Code or any other taxes or penalties imposed under Section 409A of the Code (“409A Taxes”) if paid at the time such payments are otherwise required under this Award, then such payments shall be delayed until the earlier of (A) the date that is six months after the date of the Participant's Separation from Service or (B) the Participant's death.  If the amounts delayed are payable in installments, the delayed payments will be paid on the first day of the seventh month following the date of the Participant's separation from service (or earlier death). The provisions of this Section 14 shall only apply to the minimum extent required to avoid the Participant's incurrence of any 409A Taxes. 

15.NO RIGHT TO CONTINUED EMPLOYMENT.  Nothing in this Award shall confer upon the Participant any right to continued employment with the Company (or its Affiliates or their respective successors) or to interfere in any way with the right of the Company (or its Affiliates or their respective successors) to terminate the Participant's employment at any time.

16.OTHER BENEFITS.  The Award is a special incentive payment to the Participant and shall not be taken into account in computing the amount of salary or compensation for purposes of determining any bonus, incentive, pension, retirement, death or other benefit under any other bonus, incentive pension, retirement, insurance or other employee benefit plan of the Company, unless such plan or agreement expressly provides otherwise.

17.SEVERABILITY.  In the event that any provision of this Award shall be held illegal, invalid, or unenforceable for any reason, such provision shall be fully severable and shall not affect the remaining provisions of this Award, and the Award shall be construed and enforced as if the illegal, invalid, or unenforceable provision had never been included herein.

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18.COUNTERPARTS.  This Award may be signed in any number of counterparts, each of which will be an original, with the same force and effect as if the signature thereto and hereto were upon the same instrument.

19.    RIGHT OF SET-OFF.  By accepting this Award, Participant consents to a deduction from and set-off against any amounts owed to the Participant by the Company or any subsidiary or affiliate from time to time (including but not limited to amounts owed to Participant as wages, severance payments, or other fringe benefits) to the extent of the amounts owed to the Company or any subsidiary or affiliate by the Participant (other than if the Participant is subject to the US taxes, from or against amounts of non-qualified deferred compensation subject to Code Section 409A).
  
IN WITNESS WHEREOF, the Company has executed the Award as of the date first above written.
CHENIERE ENERGY, INC.

By:  ______________________________________                         

Name:  ____________________________________                         

Title:  _____________________________________                         

I hereby accept the Award subject to all of the terms and provisions hereof.  I acknowledge and agree that the Award shall vest and become payable, if at all, only during the period of my continued employment with the Company or as otherwise provided in the Award (not through the act of issuing the Award).  

____________________________________________________                        
Participant

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