Document:

Document

Exhibit 10.3

Sabine Pass Liquefaction, LLC

August 4, 2021

Cheniere Marketing International LLP
3rd Floor, The Zig Zag Building
70 Victoria Street
London SW1E 6SQ, United Kingdom
Attn: Commercial Operations

Re:       Letter Agreement regarding the Base SPA (“Letter Agreement”)

Dear Sir or Madam:

The Parties have entered into that certain Amended and Restated LNG Sale and Purchase Agreement (FOB) dated August 5, 2014 between Sabine Pass Liquefaction, LLC and Cheniere Marketing International LLP (as assignee of Cheniere Marketing, LLC) (as amended and assigned, the “Base SPA”).  Capitalized terms used but not defined herein shall have the meanings given them in the Base SPA.  This Letter Agreement sets forth the terms of certain sales and purchases of LNG under the Base SPA.

The Parties hereby agree that, notwithstanding Section 9.2 and subject to Section 14 of the Base SPA, the FPC (expressed in USD per MMBtu) applicable to: (i) up to six (6) cargoes scheduled for delivery in the 2022 Contract Year and up to six (6) cargoes scheduled for delivery in the 2023 Contract Year shall equal USD one decimal seven six eight per MMBtu (US$1.768/MMBtu); and (ii) up to six (6) cargoes scheduled for delivery in the 2022 Contract Year shall equal USD one decimal nine five two per MMBtu (US$1.952/MMBtu).

Please indicate Buyer’s agreement with the terms of this Letter Agreement by executing a copy of this Letter Agreement where indicated below and returning it to Seller. 

Sincerely,

Sabine Pass Liquefaction, LLC

						
	By:	/s/ Zach Davis
		Zach Davis
		Chief Financial Officer

Accepted and Agreed:
												
	Cheniere Marketing International LLP	
	acting by its managing member, Cheniere Marketing, LLC
				
	By:	/s/ Anatol Feygin	
		Anatol Feygin		
		Executive Vice President and Chief Commercial Officer

700 Milam Street, Suite 1900, Houston, Texas 77002
+1 713-375-5000a102amendment2tothecomme

Document No:  Revision:  Revision Date:  Replaces:  Page:  MSA-XPI  Amendment 2  05/13/21  00  1 of 4          AMENDMENT NO. 2 TO Commercial Supply Agreement    This Amendment No. 2 to the Commercial Supply Agreement (this “Amendment”) has  been made and entered into as of May 13, 2021 (the “Effective Date”) between PYRAMID  Laboratories Inc. (“PYRAMID”) and Xeris Pharmaceuticals, Inc. (“Client”). This Amendment  amends that certain Commercial Supply Agreement dated as of May 14, 2018 (the “Agreement”)  and amended on September 1, 2018 (“Amendment 1”), by and between the parties to this  Amendment. Capitalized terms used but not otherwise defined herein shall have the meanings  ascribed to them in the Agreement.    NOW, THEREFORE, the parties intending to be legally bound, hereby agree as follows:    1. Schedule A. The Agreement is hereby amended as of the Effective Date such that Schedule  A thereto is deleted in its entirety and replaced with Schedule A attached hereto.    2. Miscellaneous. Except as expressly amended hereby, the terms of the Agreement  (including the schedules thereto) shall remain in full force and effect, and the Agreement,  as amended by this Amendment, is binding on each of the parties to this Amendment.    * * *  

 

Document No:  Revision:  Revision Date:  Replaces:  Page:  MSA-XPI  Amendment 2  05/13/21  00  2 of 4          IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the  Effective Date.        PYRAMID Laboratories, Inc.:          By: /s/ Medhat Gorgy   Name: Medhat Gorgy  Title: President & CEO  Xeris Pharmaceuticals, Inc.:      By: /s/ Kevin McCulloch   Name:            Kevin McCulloch  Title:              SVP, Global Operations 

 

Document No:  Revision:  Revision Date:  Replaces:  Page:  MSA-XPI  Amendment 2  05/13/21  00  3 of 4      Schedule A      Batch Size, Dosage, Yield*, Volume, Pricing        [***]    [***]   [***]   [***]    [***]   [***]   [***]  [***]   [***]   [***]  [***]   [***]   [***]    [***]    [***]   [***]   [***]    [***]   [***]   [***]  [***]   [***]   [***]  [***]   [***]   [***]    [***]    [***]   [***]   [***]    [***]   [***]   [***]  [***]   [***]   [***]  [***]   [***]   [***]    [***]    [***]   [***]   [***]    [***]   [***]   [***]  [***]   [***]   [***]  [***]   [***]   [***]  

 

Document No:  Revision:  Revision Date:  Replaces:  Page:  MSA-XPI  Amendment 2  05/13/21  00  4 of 4        Schedule A (continued)    Batch Size, Dosage, Yield, Volume Pricing    Pricing Assumptions:    1. Standard Batch [***].    2. Standard batch size estimates based on [***] theoretical yield per dosage; yield assumptions and  batch sizes shall be adjusted annually based on actual production history.    3. Batch size/yield/price independent [***].    4. Pricing subject to annual adjustments as defined under Section 3.3.2 [***].    5. Pricing for Validation Batches shall be adjusted as defined under Section 3.3.3 [***].    6. Price includes [***].    7. Price includes [***].    8. Price excludes [***].a103amendment1tothequali

    Quality Agreement Amendment    Document: QAA-Xeris  Amendment1  Revision: 00  Date: 05/11/21  Replaces: N/A  Page: 1 of 4      Pyramid Laboratories, Inc. CONFIDENTIAL  Amendment Quality Agreement QAA-XERIS Revision 03       Page 1 of 4        Quality Agreement History Page  by and between          Contractor Name: Pyramid Laboratories, Inc. (PLI)    And    Client: Xeris Pharmaceuticals, Inc.     Agreement Description:      Aseptic Drug Product Manufacturing  and Analytical Services        Brief description of Quality  Agreement revisions Section Number Effective Date Document No.  Update of Appendix 1 for  Contacts and Responsibilities Appendix 1 Effective as of last  signatory date  QAA-XERIS  Revision 03  

 

    Quality Agreement Amendment    Document: QAA-Xeris  Amendment1  Revision: 00  Date: 05/11/21  Replaces: N/A  Page: 2 of 4      Pyramid Laboratories, Inc. CONFIDENTIAL  Amendment Quality Agreement QAA-XERIS Revision 03       Page 2 of 4  First AMENDMENT    This First Amendment (the “First Amendment”) is entered into as of the Amendment  Effective Date (as defined below) by and between Pyramid Laboratories, Inc.  (“PYRAMID”) and Xeris Pharmaceuticals, Inc. (“XERIS”) for purposes of amending that  certain Quality Agreement dated November 16, 2016 (as amended and restated by that  certain Amendment and Restatement Agreement dated as of November 16, 2020, the  “Quality Agreement”) between the parties.    In consideration of the mutual covenants set first in this First Amendment, and other  good and valuable consideration, the parties hereby agree as follows:     1. Amendment Effective Date. The effective date of this Amendment shall be the  date of the last signature below (“Amendment Effective Date”).  This First  Amendment is in compliance with the terms of the Quality Agreement, including,  without limitation, Section 1.4 titled “Amendments to Quality Agreement” thereof.  2. Amendments. The Quality Agreement is hereby amended by deleting Appendix 1  thereto in its entirety and inserting in lieu thereof new Appendix 1 as set forth  below:    APPENDIX 1:  Contacts and Responsibilities  Position XERIS  PYRAMID Laboratories, Inc.  Contract Manager [***] [***]  Analytical [***] [***]  Manufacturing/CMC [***] [***]  Quality Assurance [***] [***]  Pharmaceutical Development [***] [***]  Product Distribution [***] [***]  Project Manager [***] [***]  

 

    Quality Agreement Amendment    Document: QAA-Xeris  Amendment1  Revision: 00  Date: 05/11/21  Replaces: N/A  Page: 3 of 4      Pyramid Laboratories, Inc. CONFIDENTIAL  Amendment Quality Agreement QAA-XERIS Revision 03       Page 3 of 4  Position XERIS  PYRAMID Laboratories, Inc.  Regulatory [***] [***]    Contact Information    PYRAMID Laboratories, Inc.       Phone Number: [***]    XERIS Pharmaceuticals, Inc.    Phone Number: [***]    NOTE:    1)    A designee may be assigned to specific projects by the responsible personnel.  2)    The designated representatives of each company will be responsible for the supply or receipt  of information and controlled documents.”    3. Ratification.  Except as provided herein, all other terms, conditions and  provisions of the Quality Agreement shall remain in full force and effect.  If there  is any inconsistency between the terms of this First Amendment and the Quality  Agreement, the terms of this First Amendment shall govern.  4. Governing Law.  Section 25.9 of the Commercial Supply Agreement dated May  1, 2018, as amended by that certain Amendment No. 1 dated September 1, 2018  shall apply to this First Amendment directly as if incorporated herein.  5. Counterparts.  This First Amendment may be executed by the parties in separate  counterparts, each of which when so executed and delivered shall be an original,  but all such counterparts shall together constitute one and the same instrument.  Delivery of an executed signature page of this First Amendment by email or  facsimile transmission shall be effective as delivery of a manually executed  counterpart hereof.      IN WITNESS WHEREOF, the parties intending to be bound by the terms and conditions  hereof have caused this First Amendment to be signed by their duly authorized  representatives.      

 

    Quality Agreement Amendment    Document: QAA-Xeris  Amendment1  Revision: 00  Date: 05/11/21  Replaces: N/A  Page: 4 of 4      Pyramid Laboratories, Inc. CONFIDENTIAL  Amendment Quality Agreement QAA-XERIS Revision 03       Page 4 of 4    Xeris Pharmaceuticals, Inc. Pyramid Laboratories, Inc.    Signature: /s/ Sheila Moran    Signature: /s/ Heba Mina    Name: Sheila Moran Name: Heba Mina  Title: Vice President Quality  Title: Sr. Director of Quality and Regulatory   Affairs  Date: 5/12/2021 Date: 5/12/2021Document

Amendment 4 to the 
Quality Assurance Agreement

This Amendment 4 (the “Amendment 4”) is made as of the date of the last signature (the “Effective Date”) by and between Bachem AG, an entity organized under the laws of Switzerland, with its principal place of business at Hauptstrasse 144, CH-4416 Bubendorf, Switzerland (“Bachem”), and Xeris Pharmaceuticals, lnc., an entity organized under the laws of Delaware, with its principal place of business at 180 North LaSalle St, Suite 1600, Chicago, lL 60601, USA ("Xeris").

PREAMBLE

WHEREAS,1Bachem and Xeris have entered into a Quality Assurance Agreement between the Parties effective as of November 20, 2015, an amendment 1 to the Quality Assurance Agreement dated October 31, 2016 (“Amendment 1”), an amendment 2 to the Quality Assurance Agreement dated January 26, 2017 (“Amendment 2”), and an amendment 3 to the Quality Assurance Agreement dated February 26, 2020 (“Amendment 3”), collectively comprising the “Quality Assurance Agreement”;
WHEREAS,2 Bachem and Xeris now mutually desire to amend, modify and restate certain terms and conditions of the Quality Assurance Agreement.
    NOW THEREFORE, the Parties hereto, intending to be legally bound, agree as follows:
1.DEFINITIONS
The capitalized terms used in this Amendment 4 shall have the meaning ascribed to such terms in the Quality Assurance Agreement, unless otherwise stated.

2.AMENDMENTS
The Parties agree that, as of the Effective Date, the Quality Assurance Agreement is amended as set forth in this Section 2.
2.1Section 3.3 of the Quality Assurance Agreement, “Notices to Xeris” shall be deleted in its entirety and replaced by the following:   

“Section 3.3 Notices to Xeris.  Any notice to Xeris shall be addressed to:
Xeris Pharmaceuticals, Inc. 
180 N. Lasalle Street, Suite 1600, Chicago, IL 60601
[***]”

2.2Section 12.7 of the Quality Assurance Agreement, “Number of Copies” shall be deleted in its entirety and replaced by the following:

“Section 12.7 Number of copies and electronic signatures.  This Quality Agreement may be entered into any number of counterparts, each of which when signed (whether in original or electronic form) and delivered shall constitute one single agreement between the Parties hereto. As an alternative to handwritten signatures on a hardcopy, electronic signatures of duly authorized representatives of the Parties shall have the full force and effect of an original 

signature. In case this Quality Agreement is signed electronically (e.g. with DocuSign), only the electronic version of this document is valid. Each printout is for reference only.”
3.MISCELLANEOUS

3.1.In the event of any conflict between the terms of this Amendment 4 and the terms of the 
Quality Assurance Agreement, the terms of this Amendment 4 shall prevail.

3.2.Except as expressly modified by this Amendment 4, the terms and provisions of the Quality 
Assurance Agreement remain and shall remain in full force and effect.

     3.3  The terms of Article 12 (Miscellaneous) of the Quality Assurance Agreement shall apply to this Amendment 4 directly as if incorporated herein.

        

IN WITNESS WHEREOF, the Parties have caused this Amendment 4 to the Quality Assurance Agreement to be duly executed by their authorized representatives on the Effective Date.

Bubendorf, _______________________    
Bachem AG

																		
		By:  /s/ Christopher Schuhr	5/5/2021	By:  /s/ Jan van Bebber	5/4/2021	
		Dr, Christopher Schuhr		Dr. Jan van Bebber		
		Vice President QA/RA	Director QA		

Chicago, IL USA, _______________________
Xeris Pharmaceuticals, lnc.

						
	By:  /s/ Sheila Moran	5/5/2021
	Sheila Moran	
	Function:  Vice President, Quality

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