Document:

FIRST AMENDMENT TO 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This First Amendment
(this “Amendment”) to the Original Agreement (as defined below) is entered this 24th day of May,
2012, by and between Far East Energy Corporation, a Nevada corporation (the “Company”), and Michael R. McElwrath
(“Executive”).

 

 

RECITALS

 

WHEREAS, the Company
and Executive entered into that certain Amended and Restated Employment Agreement, dated as of October 10, 2011 (as amended, the
“Original Agreement”); and

 

WHEREAS, the Company
and Executive desire to amend the Original Agreement on the terms herein provided.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants and agreements of the parties herein contained, the parties hereto agree as
follows:

 

ARTICLE I

 

Definitions

 

Section 1.01. Capitalized
terms used in this Amendment that are not defined herein shall have the meanings ascribed to such terms by the Original Agreement.

 

ARTICLE II

 

Amendments

 

Section 2.01.
Section 1. Section 1 of the Original Agreement is hereby amended and restated in its entirety
to read as follows:  

 

“1. Term.
The term of employment under this Agreement commenced and has been effective since October 13, 2003 and shall terminate
on October 13, 2016, unless sooner terminated in accordance with the terms hereof (the “Term”). In addition, upon mutual
agreement of the Company and Executive, this Agreement may be extended on the same terms and conditions for such period as the
parties may agree.”

 

    	 

    	 

    

 

ARTICLE III

 

Miscellaneous

 

Section 3.01. Ratifications.  The
terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions set forth in
the Original Agreement.  Except as expressly modified and superseded by this Amendment, the Company and Executive each
hereby (a) ratifies and confirms the Original Agreement, (b) agrees that the same shall continue in full force and effect, and
(c) agrees that the same is the legal, valid and binding obligation of the Company and Executive, enforceable against the Company
and Executive in accordance with its terms.

 

Section 3.02. Severability.  If,
for any reason, any provision of this Amendment is held invalid, illegal or unenforceable, such invalidity, illegality or unenforceability
shall not affect any other provision of this Amendment not held so invalid, illegal or unenforceable, and each such other provision
shall, to the fullest extent consistent with law, continue in full force and effect.  In addition, if any provision of this
Amendment shall be held invalid, illegal or unenforceable in part, such invalidity, illegality or unenforceability shall in no
way affect the rest of such provision not held so invalid, illegal or unenforceable and the rest of such provision, together with
all other provisions of this Amendment, shall, to the fullest extent consistent with law, continue in full force and effect.  If
any provision or part thereof shall be held invalid, illegal or unenforceable, to the fullest extent permitted by law, a provision
or part thereof shall be substituted therefor that is valid, legal and enforceable.

 

Section 3.03. Headings.  The
headings of Sections are included solely for convenience of reference and shall not control the meaning or interpretation of any
of the provisions of this Amendment.

 

Section 3.04. Governing
Law.  This Amendment has been executed and delivered in the State of Texas, and its validity, interpretation, performance
and enforcement, and all disputes and controversies in connection therewith, shall be governed by the laws of the State of Texas,
without giving effect to any principles of conflicts of law that would apply any other law.

 

Section 3.05. Withholding.  All
amounts paid pursuant to the Original Agreement and this Amendment shall be subject to withholding for taxes (federal, state, local
or otherwise) to the extent required by applicable law.

 

Section 3.06. Counterparts.  This
Amendment may be executed in counterparts, each of which, when taken together, shall constitute one original agreement.

 

Section 3.07. Waiver.  No
term or condition of the Original Agreement or this Amendment shall be deemed to have been waived, nor shall there be any estoppel
against the enforcement of any provision of this Amendment or the Original Agreement, except by written instrument of the party
charged with such waiver or estoppel.  No such written waiver shall be deemed a continuing waiver unless specifically
stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a
waiver of such term or condition for the future or as to any act other than that specifically waived.

 

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Section 3.08. Entire
Agreement.  The Original Agreement and this Amendment, together, contain the entire understanding between the parties
hereto regarding this subject, except that this Amendment shall not affect or operate to reduce any benefit or compensation inuring
to Executive of a kind elsewhere provided and not expressly provided for in the Original Agreement or this Amendment.

 

[remainder of page
intentionally left blank; signatures appear on following page(s)]

 

    	3

    	 

    
 

             IN WITNESS WHEREOF, the Company has caused its duly authorized officer or director to execute and attest to this Amendment,
and Executive has placed this signature hereon, effective as of the date set forth above.

 

	 	COMPANY:
	 	 	 
	 	FAR EAST ENERGY CORPORATION 
	 	 	 
	 	 	 
	 	By:	 
	 	Name:	Bruce N. Huff
	 	Title:	Chief Financial Officer
	 	 	 
	 	 	 
	 	EXECUTIVE:
	 	 	 
	 	 	 
	 	 
	 	Michael R. McElwrath

 

    	4SPECIMEN UNIT CERTIFICATE

 

	     NUMBER	UNITS
	U- ___________	 

 

	SEE REVERSE FOR	 
	CERTAIN	 
	DEFINITIONS	 

 

	 	CIS ACQUISITION LTD.	CUSIP ___________

 

UNITS CONSISTING OF ONE (1) SERIES A SHARE
AND ONE (1) WARRANT TO PURCHASE

ONE (1) ORDINARY SHARE

 

	THIS CERTIFIES THAT 	 
	is the owner of	 	  Units.
	 	 	 	 

 

Each Unit (“Unit”) consists
of one (1) Series A Share, par value $0.0001 per share (“Series A Share”), of CIS ACQUISITION LTD., a British Virgin
Islands company (the “Company”), and one (1) warrant (the “Warrant”). Each Warrant entitles the holder
to purchase one (1) ordinary share, par value $0.0001 per share (“ordinary shares”) for $10.00 per ordinary share (subject
to adjustment).  Each Warrant will become exercisable on the later of (i) the consolidation of each series ordinary shares
into one class of ordinary shares after consummation of an initial acquisition transaction or post-acquisition tender offer, as
the case may be, and (ii) ____________, 2013, and will expire unless exercised before 5:00 p.m., New York City Time, on ____________,
2017, or the date of the Company's dissolution and winding up of the Company, or earlier upon redemption (the “Expiration
Date”). The Series A Shares and Warrants comprising the Units represented by this certificate will begin separate trading
90 days after the date of the prospectus covering these securities (the “Prospectus”) or the announcement by the underwriters
of the Company’s initial public offering of the decision to allow earlier trading; provided, however, in no event will the
representative allow separate trading of the Series A Shares and Warrants until the Company files an audited balance sheet with
the Securities and Exchange Commission reflecting the Company’s receipt of the gross proceeds of the offering and issues
a press release announcing when such separate trading will begin.  The terms of the Warrants are governed by a Warrant
Agreement, dated as of _______, 2012, between the Company and Continental Stock Transfer & Trust Company, as Warrant Agent,
and are subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate
consents to by acceptance hereof.  Copies of the Warrant Agreement are on file at the office of the Warrant Agent at
Continental Stock Transfer & Trust Company, 17 Battery Place, 8th Floor, New York, NY 10004, and are available to
any Warrant holder on written request and without cost. This certificate is not valid unless countersigned by the Transfer Agent
and Registrar of the Company. This Unit shall be governed and construed in accordance with the internal laws of the State of New
York, without regard to conflicts of laws principles thereof.

 

We may not cancel the units at any time
unless and until (i) we do not consummate our initial acquisition transaction within the allotted time period and are required
to dissolve and liquidate the trust account, (ii) we have completed an acquisition transaction prior to a post-acquisition tender
offer or (iii) we have otherwise consummated an acquisition and our trust account has been liquidated.

 

Witness the facsimile seal of the Company and the facsimile
signature of its duly authorized officers.

 

	  By  	 	 	 
	 	Chief Executive Officer	 	Secretary

 

CIS ACQUISITION LTD.

CORPORATE

SEAL

2012

BRITISH VIRGIN ISLANDS

 

    	 

    	 

    

 

CIS ACQUISITION LTD.

 

The Company will furnish
without charge to each unitholder who so requests, a statement of the powers, designations, preferences and relative, participating,
optional or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or
restrictions of such preferences and/or rights.

 

The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

TEN COM  -  as tenants in common

TEN ENT  -  as tenants by the
entireties

JT TEN  -  as joint tenants with
right of survivorship

and not as tenants in common

 

	UNIF GIFT MIN ACT -	 	Custodian	 	 
	 	(Cust)	 	(Minor)	 
	 	under Uniform Gifts to Minors	 
	 	Act	 	 
	 	 	(State)	 
	 	 	 	 	 	 	 

 

Additional Abbreviations may also be used though not in the
above list.

 

For value received, ___________________________
hereby sell, assign and transfer unto

 

	PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE	 
	 	 
	 	 
	 
	 
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	 
	 
	 	 Units
	represented by the within Certificate, and do hereby irrevocably constitute and appoint
	 	  Attorney
	 	 	 	 

to transfer the said Units on the books of the within named
Company will full power of substitution in the premises.

 

	Dated 	 	 	 	 
	 	 	 	 	 
	 	 	 	NOTICE: 	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

	Signature(s) Guaranteed:
	 

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE
MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

 

The holder of this certificate shall be entitled to receive
funds from the trust account only in accordance with the terms of the underlying Series A Share.  In no other circumstances
shall the holder have any right or interest of any kind in or to the trust account.

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