Court Opinion

ID: 4281157
Source: CourtListenerOpinion
Date Created: 2018-06-05 09:48:13.404386+00
Date Added: 2024-06-11T14:34:42.901254
License: Public Domain

ACCEPTED
                                                                                             05-18-00647-CV
05-18-00647-CV                                                                     FIFTH COURT OF APPEALS
                                                                                            DALLAS, TEXAS
                                                                                            6/4/2018 2:29 PM
                                              Part 2 of 5                                         LISA MATZ
                                                                                                      CLERK

                                        No. 05-18-00647-CV
                                      In the Court of Appeals
                                                                             FILED IN
                                  Fifth District of Texas at Dallas   5th COURT OF APPEALS
                                                                          DALLAS, TEXAS
                                                                      6/4/2018 2:29:41 PM
                                                                            LISA MATZ
                                                                              Clerk

                                       In re JOHN CALCE
                                             Relator

  RECORD FOR PETITION FOR WRIT OF MANDAMUS

         Relator John Calce submits this record of trial court proceedings

in support of his petition for writ of mandamus.

                                      Index of Documents

 #      Date               Description                                         Record
                                                                               Pages
 1      6/26/16            Plaintiff’s Original Petition                        001-023
 2      7/31/17            John Calce’s Original Counterclaim Against           024-172
                           Centurion Logistics LLC and Centurion
                           Pecos Terminal LLC
 3      11/22/17 John Calce’s First Amended Counterclaim                        173-321
                 Against Centurion Logistics LLC and
                 Centurion Pecos Terminal LLC
 4      11/22/17 John Calce’s Amended Motion for Partial                        322-393
                 Summary Judgment Regarding
                 Counterclaim Against Centurion Logistics
                 LLC

10000280.1/SP/38371/0105/060118
 5      11/27/17 John Calce’s Supplemental Evidence in                    394-405
                 Support of Calce’s Amended Motion for
                 Partial Summary Judgment Regarding
                 Counterclaim Against Centurion Logistics
                 LLC
 6      12/8/17            Plaintiff’s Response to John Calce’s Amended   406-858
                           Motion for Partial Summary Judgment
                           Regarding Counterclaim Against Centurion
                           Logistics LLC
 7      12/12/17 John Calce’s Reply Brief in Support of                   859-865
                 Amended Motion for Partial Summary
                 Judgment Regarding Counterclaim Against
                 Centurion Logistics LLC
 8      12/15/17 Notice of Trial Setting                                     866
 9      5/2/18             Plaintiffs’ Second Amended Petition            867-903
 10 5/21/18                Order Denying John Calce’s Amended             904-905
                           Motion for Partial Summary Judgment
                           Regarding Counterclaim Againt Centurion
                           Logistics LLC

10000280.1/SP/38371/0105/060118
                                  Declaration of Chase J. Potter

STATE OF TEXAS                                §
COUNTY OF DALLAS                              §

     My name is Chase J. Potter. My date of birth is May 12, 1986. My
address is 901 Main Street, Suite 6000, Dallas, Texas 75202. I hereby
declare under penalty of perjury as follows:

      1.   I am over eighteen years of age and am fully competent to
make this declaration. I am an attorney licensed by the Supreme Court
of Texas and am counsel for Relator John Calce in this case.

     2.   The factual statements contained within this instrument are
within my personal knowledge and are true and correct.

      3.    The copies of pleadings, motions, and other documents
included in this Record for Petition for Writ of Mandamus are true and
correct copies of these documents as filed in the trial court.

         Executed in Dallas County, Texas, on June 4, 2018.

                                                   /s/ Chase J. Potter
                                                   Chase J. Potter, Declarant

10000280.1/SP/38371/0105/060118
        12.3. Optional Reclemplion of Membership lnlcrest. Subject lo Section 4.4 (relming k>
limitntions 011 distributions). l he Managers, or, ii' there is no Manager. a Requisite Percentag~,
in~1) cause the Compuny to redeem the Membership Interest of an Assignee by pay ing the
Assignee the Fair Vnluc of its Membership lnten.:st ns of the redemption date or the actual value
or the Members Capital Account. Interest       will ac:true al the Index Rate ~rn the amount o\\·cd
under this Section 12.3 frnm the 30111 day after the redemption dale to the date the payment is
made. The rcdcrn rit ion date shall be tlxed b) the Managers in accordance with the principles of
Section IOA. Except a:; otherwise required by the l.R.C.. amounts paid in redemption of an
Assignee's Membershi p Interest shall be treated as made in exchange for the interest or lite
Assignee in Company property pursuant lo 1.R.C. Section 7J6(b)(I ). including the interest or
such Assignee in Company goodwi ll.

        12.4. Status or Fonner Member. A tvlember who withdraws or has been removed rrom
the Company or otherwise ceases to be a Member has the status of an As ignec with respect to
any Membership Interest held by such former 1cmber. Except as provided in Section 12.J
(relating to optional redemption of a Membcr·s Membership Interest) or Article XIII (relating to
winding up and term ination). such former Memher is not entitled to recl.'ive any payments under
Sect ion 101.205 ol'thc Ccide.

                                                            ARTICLE XIII
                                            WINDING lJP ANU T E RMIN ATION

           13.1.       Events Requiring Winding Up.                            The Company shall commence winding up
procedures in accordnnce with this Agreement and the Code upon the l'irsl to occur of any                                         or thl'
lhlltm ing events:

           (a)         a Requisite Percentage vote to wind up and terminate the Company:

           (b)         a dl.'crce by a court requir ing the windi ng up of the Compnny;

           (c)         the 1ermi11ation of membership nl'thc last remaining Member: or

       (d}   the re ·ignation or removal ot' all                                1   lanagers if the   1   kmbers lbil to elect a
replacement Manager as provided in Section 5. 7(1).

           13.2.       Windim!. Up Prm:edures.

        (a)    On the occurrence of an event rl:quiring winding up of the Company, nnless there
is an action to continue the Company without wind ing up in accordance with Secti on 13.3. the
Managers (or othcu Liqnidator as pro,,idcd bckrn) shal I. as soon as reasonabl y practicable. wind
up the Company's business and affairs (including disposing of the Company's assets and
npplying the proceeds as pro\'ided in Section 13.-t ) and tenui nate the Company in accorclan~t:
\\ith this Agreement ond the Code. The Company shall cease to ctm) on its business (except to
the extent neccssur) to "ind up its business). collect and sell ib property lo the extent the

\0 \11',\ ~ \ Ac..au:1·: \H,' " ' 01· C' I·.' I I, ltlO' LOGIS I I C.,   LLC                                               E:x11mn A
                                                                                                                   1 1 5\)8~8\2   2112•2011

                                                                                                                                              CALCE01505
                                                                                                                                                 MR.214
property is not to be translCrr~d or distributed in kind. and µc rfomi any other act required to'' incl
up its busit1ess and affai rs.

       (b)      If the Mu11Hgers have wrongfully caused the windi ng up or the Company or if
there is 110 Manager, (i) a Requ isi te Percentage may vote to elect a person or persons to
accomplish the w inding up or the Company. or (ii) if the Members foi l to \!led a person to
accomplish winding up the Company. then an) Member or Assignee may petition a court tL>
wind up the Compan) as provided in Section I 1.054 of the Code. The pcl'son or persons
winJing up !he Cu111pa11). \\hcthtr Lht: Mam1gers ur an dcctt'd ur 1.:uun appointed persun ut
persons. is referred lo in thi s Agreement us the .. Liquidator.'·

        (c)       The Liquidator may determine the time. manner. and terms of any sn le or sales ol'
Company properly pursuant to such winding up. The Liquidator (if not the M u1mgers) is entitled
to receive rensonablc compcnsmion for its ser\'ices: may exercise all or the powers conforrl;!d
upon. the Managers under this Agreement Lo the extent nccessar) or desirable in the good faith
judgment ol' the Liqu idator to perform its duties: and with respect to ae ts 1nkc11 or omitted w hile
acting in such capacity on behalf or the Company, is entitled to the limi tatio11 o l' liability a11d
indem11i [it.:ation rights set lorth in Article VI.

        (d}    The Liquidator shall pro\•ide quarterly report · to the Members and Assignees
during the \\inding up procedure showing the assets and liabilities of the Company. providing
information and docu1m:11ts requ ired by the Members and 1\ssignces lo comply with thei r lax
reporting obligations. and such other inCornrntion as the Liquidmor deems appropriate. W ith in u
reasonable ti me after completing the windi ng 11p. the Liquidator shall give cuch Member and
Assignee a linal statement setting forth the assets. liabi lities. and reserves or the Company ns or
the date orcompletion of winding up.

           IJJ,        Cominuation Without Wi11ding Up.

       (n)      If there is a decision lo wind up and lerminak the Company ns described i11
Section 13.J Ca). the Compan) may be continued as provided in cction I 01.552 of the Code.

        ( b}    ff there is a ccrmination o f the continued membership of the last remaining
Member as described in Section lJ. I(c). then prior to completion of the wincling up process but
not later than 90 days alter the event of termina tion. the Manngers may continue the Company by
admi lling one or more M!.!mbers cftective as () I' the occurrence or the event or termination. 1\ny
Assignee whose Percentage lnterest \\'OUld be diminished by reason or the admission or n11
Addi tional Member under the circumstances described in this ection 13.J(b) must apprO\c the
admission of the Addit ional Member.

            13.4.      Liquidation ol' Assets and Application and Distribution of PrOL'.t.:i.:ds.

        (uJ    111 General. On winding up the Cornpan) . the Liquidator shnll tlisposc ot' Lhe
Company·s properties and apply and tlis1ributt: the proceeds. or trans(er the C'o111pft11) prope11ics.
in the following order orp1fori t~ :

C0\11' \:'I y /\C ll EE \l t.'1 1 0 1· C F\' I l'l\10'   Loc as·11c'" LLC                                  E\'1111111 /\
                                                                                                    H511~~8'21 ' 1! '101   I

                                                                                                                               CALCE01506
                                                                                                                                  MR.215
                  (i)      to credi tors (i ncluding Members who are creditors) in accordance with
         their relati' c rights and priorities to satisfy the liabilities or the Company. including
         expenses associated with the " inding up and termination or the Compan}. but excluding
         any Company liability for nny unpaid Mandat01) Distributions:

                   (i i)  to Members. Assignees. nnd ronner Members to sntist'y the Company's
         liability for any unpaid tamlatory Distributions: and

                     (iii)      ro tvlcmbers and Assignees as provided in Sc1.:tion -l.2.

     (b)     No Member Deficit Resto1·atio11 Obli gation. No Member is liable to the
Company. to another Mcmbe1·. or lo n third party. ror the repayment or any ueficit II\ the
Member· s Capital /\ccounl. C:'(cept as provided in Section 10 1.206 or the Code.

        (c)     Rcserves. 111 the discretion or the Liquidator. a pro rata portion of the
distributions LJiat wou ld otherwise be made pursuant lo Section 13 A(a)( ii ) and J.ilil may be
withheld 10 provide a reasonable reserve for Company liabilities (contingent or othen;o,•1se) and
future expenses. including N reasonable reserve for any clai ms Lbr indemnification under Art icle
Yl and for any future expenses associated with any tax aud it or othc1· Proceeding that is pe11di11g
OI' may arise.

        (tl)   Pa\ ments anti Distributions to Members in Kind. f hc Liquidator ma~ not make
any payments or distributions to Members or Assignees pursuant to Section 13.-i{a)( ii) or (ifil
other than in easiJ unless all Members and Assignees receivi ng the property approve the transfrr
in kind. The Liquidator shall determine the Fair Market Value or any property transferred lo
Members or Assignees in kind according to the val uation procedures set fort h in Article XIV.

        (e)      Churacter of Liguidating Distributions. Except ns otherwise ri;:quired by the
l.R.C.. amounts pnid to Members pursuant to this Section 13.4 shall be !rented as made in
exchange for the interest of' the Member in Company proper!) pllrSllant to l.R.C. Section
7J6(b)( l ). includ ing the interest of such Member in Company goo \\ ith the approval of a Rcquisitecl
Percentage.

        (b)     Exceptions and Limitations. The Managers may <1mend Exhi bit A from ti me to
time to retlect the admission and withdrawa l or Members, and challges lO nny Member's
Percentage Interest. in accorda nce with this .1\ gn.:ement. The Managers may use the power ur
a llorney granted in St:ction 15. 12 to make mm-~ubstmHi ve amendments that do not adversely
impact the rights or obli gations or any Manager or Member. No amenclrncnt of the Agreement
may adversely affect any Mt:mber" s rights or obl igations under this Agreement (determi ned
without taking into m:count the light or other Members lO am~ml the 1\grecment) without the
adversely affected Member's approval. No amendment o r Article VI (relating to li ability and
indemni fication) mny adversely affect !he rights or obligations or any Indemnified Person
\Vithnut the Indemni tied Person's apprOvl't l. No amendment of I his Agreement may change the
requirements under this Agreement f'or approving any action without the approval or the
Members holding an aggregate Percentage Interest requi red to approve the action.

           15.2. Notice. Any notice, report, or other communication req uired or permitted to be
made lo nny person by this Agreement shall be in writing nnd is deemed given when
(al deli vered to the person by hand. (b) the third business day after delivery to the United States
Posltll Service (or other designated deli\·ery sen ice as defined in l.R.C. Se<.:tion 7502( f)). postage
prepaid. in an envelope properly adJresscd lo 1he person at the person·s address set forth in the
Company's records as of the date ol' deli\·ery. or (c) successfu lly transmitted b} facsimile or
elei.: cronic message lo the Cacsimi le phone number or e-mail address (as appl icable ) set forth in
the Company's records as or the date or transmission. Any commun ication lo tht! Manu~.:rs or
the Company may be clclh·ercd to the Company·s registered office designated pursuant to
Section 2.3.

                                                                                               E:\111 1111 /\
                                                                                        1150818, ! ~I~ 2111 1

                                                                                                                CALCE01509
                                                                                                                   MR.218
         15.3. GO\·ernin~ Lu\\': Consent to Jurisdiction. This Agreement i:; go,·crne execute. certi I)'. acknowledge. swear to. lile. publish. and record:

                  (i )    any certificate or other document that may be required to be filed by the
         Comptll1) or the Members in order to qualify the Compflny to do business in any
         jurisdiction. except that no such Ii ling shall include a consent by any Member to service or
         process in any jurisdiction withom the Member's approval;

                 (ii)    any amendment to the Certi!icutc or Fornmtion. to this Agreement, or lo
         an) other· agreement or document as required or permitted by this Agreement:

                  (iii)   any ccrti licate of tennination and other documents that ma) be required w
         cffcctutttc the termination of the Company pursuant Lo the provisions () f this Agrec)llent:
         and

               (i\')   any document required of the Company to cnrry out the nc1ions 1ho1 the
         Managers are authorized Lo take under this Agreement.

        (b}     rhe foregoi ng appointment or the Managers and Liqu idator as a Membet's
al1orney-in-foc1 does not granl such attorney-in-fact any po,vcr or authori t) lo approve. consent.
                                                                                       or
or agree to the substantive terms of any agreement or other document on behalr such Member.

        (cl     flw power orattorney grankd pursuant to this Section 15.12 (i) is a spec ial power
or attorne) coupled with an interest and is irrevucnblc. and (ii l sun i\'es the withdrawal or
remorn l o f a Member or the assignment or its Membership lnterc. t.

                       !T his Page Inten tion ally Left Blank. Signatu re Page l'ollows. I

C.:0.\ 11' \ " ' A t, nU: \H:~ I OF Ct,, 11 IUO;>. L OG IS'l I( 'i L L C                             E~\1111111    A
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                                                                                                                         CALCE01511
                                                                                                                            MR.220
          Ext.:cuted as   or the    Effec tiv~   Date set fo rth above, b) and among the persons sig11i11g
belo\\.

MEtvH3ER ':

                                                                   Marc Marrocco, an individual

                                                                   Antonio Albanese. an individual

CCl\11'.\ ' \ Ar:REE\I E'\ T OF CF:'\ rt lllO'\ LOGISTll S   LLC                                          EXllllll r A
                                                                                                  I 151J8~R\l l · 1 :!'101~

                                                                                                                              CALCE01512
                                                                                                                                 MR.221
                                                    EXHIBlT A

                                     Effecfive as of September 18, 2013

                                                    Number of
MEMBF.H. NAME AND ADDRESS                                          Initial Capital Contribution
                                                      Units

TXC Energy LLC
560 l J>rcakness Ln                                      300                 $300.00
Plam), Texas 75093

Marc Manocco
3602 Binkley Ave                                         300                 $300.00
Dallas. Texas 75205

Antonio Albanese
6605 Gentle Wind Ln
                                                         300                 $300.00
Dallas. Texas 75248

CO:\IP.\ :"\\ ' AG1u:n1f:XT IW CE'\Tl 'IUO'\ Lses at the beginning of such taxable year. Deprc<:iation is an amount \vhich
bears the same ratio to such beginning Cross Asset Value as the federal income tax dcprecimion.
amortization. or other cost tecovery deductio11 fot· such ta:- new or existing Meinber in cxclrnnge for more than a cle mi11i111is
         CapilHI Contribution: (13) the distribution by the Company to a Member of more than a de
         111inimis amount of property as consideration for an interest in the Company; (C) the
         liquid01ion of the Company \Ni thin !he meaning o f Treasury Regulations Section 1. 704-
          l(b)(2)( ii )(g): a nd (D) in connection with the grant of an interest in the Company (other
         than a de minimis interest) as consideration for the provision of scr\'ices to or for the
         benefit of the Company by a Member acti ng in a mc.;mber capacity or in anticipation or
         being a Member. Atljustments pursuant to clauses (A), (B) and (C) above are requ ired
         only if the Managers determ ine thut such adj ustments arc necessary lo accurately re nccl
         the,; relative economic interests of the Members in the Company.

                 (iii)   rhc Gross Asset Value of a Company asset distributed ton Member shall
                                                                                *
         be a{ijusled to equal the gross Fair Value (taking l.R.C. 770 l (g) into accmmt) of such
         ussct on the date of distribution as determined by the distributce and the Managers.

                (iv)     l'hc Gross Asset Values of Company assets shall be increased (tW
         decreased) to rellcct any adjustmen ts lo lhe adjusted basis of such nssels pmsuant lo
         l.R.C. Section 734(b) or l.R.C. 'cction 743(b). but only to the extent that such
         adjustments arc taken into account in determining Capital Accounts pursuant to Treasur)
         Regulations Section I. 704- l (b){~)(iv)(mJ. Gross Asset Values shall not be adjusted
         pursuant to thi s parngraph ( iv) to the ex tent that an adj ustment is requi red pursuant lo
         paragraph (ii).

Ir the Gross Asset Value of an asset has been determined or adjusted pursuant to
subparngraphs {i). Cii) or (iv) of this defini tion. the asset's Gross Asset Value . hall thereafter he
adj usted by the Depreciation taken into account wi th respect to such asset for purposes or
computing Net Profit mid Net Loss.

       "Ne t Pro liC and "Net Loss·· mean. for each taxable year or other re levant period, ,111
amount equal lo the Compan) ·s taxable income or loss for such taxable year or other relevmlt
period. determined in accorartncrship Minimum Gain" has the meaning set forth in Treasury Regulations Section
1. 704-2(b)(2) and shall be determined in accordance with Treasury Regulations Section I. 704-
2( d).

         A.3        Capital Accounts. The Company shall ~letennine and maintain Capital Accounts.
··Capital Account" means an account of each Member deterrni ned and maintained throughoul the
full term of the Company in accordance with the capital accounting rules of Treasury
Regulations Section 1.704-1 (b)(2)(iv). Without limiting the generality of the l'oregoing, thL·
following rules apply:

        (a)     The Capital Account of each ivlcmber shall be credited with ( i) an amount cqtial
to such Member's Capital Contributions and the Fair Value of property contributed (if permitted
hereunder) to the Coll1pany by such Member, (ii) such Member"s share of the Company'~ Net
Profit. and (iii) the amount of any Compd evl'!nts ( lor example. the acquisition by the
Compnny or oil or gas properties) might othern ise cause this Agreement not to comply '' ith
 rrt'asury Regulations Section L. 704- 1(b).

        (g)    n1e pro\•isions or the propo.sed Tn.:asury Regulations published Oil Januat) 22.
2003 (68 F0tl. Reg. 2930), as they may subsequent I) be mo. Company Net Profil and Net Loss shall be
allocated to the Members as fo llows;

       (a)      Net Profit. Net Pro fit for any period (t:>.:<.:lud i11g tt1x items nlkicated pmsuant to
Sections A .4.2 and A .4.3) shall be al located as lollows:

                               First, Nel Profit sha ll be al located to the Members to the extent of and in
                             (i)
               proportion to Lhe excess. jf any. of (i) the cunrnlali\'e Net Loss allocated pursuant to
                'cction A.4.1 (b) for nil prior periods, over t ii) Lhc cumulative Net Pro tit allocated
               pursuant to this Section J\4. 1(a) for all prior periods.

                        (ii)  Set:ond. an) remaining Net Prolit shall be- allocated to the Members pro
               rata in accordance with their respect ive Percentage l ntcrcs1s.

       (b)      Net Loss. Net Loss for an) period (excluding tax items allocated pursuant to
Sections 1\.4.2 and A.4J) shall be allocated as follows:

                        ( i)       Net Loss shall be allocated to the Members pro rnta in accordance with
               thei r res pee ti,.e Percentage Interests, subject lo tile Ii mitation in Section A.4. L(b )(ii).
C0\ 11   1
             \\ \     i\(;111:1:.\ n.\ I OF Cl<\ H IHO;\   LOG I ST I C~L LC-
                                                                       p \ C li A·5

                                                                                                                   CALCE01519
                                                                                                                      MR.228
                (ii)   No Member may rl:!ceive an allocation or Net Loss rhat wuu ld cause the
         Member Lo lwve an Adjusted Capi tal Account Deficit at lhc end o f the taxable year. Net
         Loss not allocated Lo n Member pursuant Lo this subparagraph (ii) shall be allocalt'd to
         other Members according to their relative positive Capi tal Account balances (cakulutcd
         taking into account the adjustments described in the defin ition of Adjusted Capitul
         Account Deficit).

        /\.4.2 Regulatory Allocations. The following special allo<.·ations shall he applied in lhL'
order in which they are listed. Such onkring is in tended 10 com ply wi th the ordering rules in
Treasury Regule1tions Section I .704-2(j ) and shal l be applied consistently therewith.

         (a)     Minimum Guin Chargeback. Except as otherwise provided in Treasu1)
Regulations Section 1.704-2( f). not" ilhswnding anything to the contrary in this Section t\.-l. if
there is a net decrease in Partnership Minimum Gain during any taxable year. each Member shnll
be all ocated item~ of income and gain for llu:1t taxable year (and, ir necessary. subsequent taxable
years) eq ual to that Member·s share or the net decrease in Partnership Minimum Ga in.
detcnnined in accordru1ce \\ ith Treasury Regulations Section I.704-2(g)(2 }. rhis Section
A.4.2(a) is intended lo comply with the minimum guin chargebac.:k requirement in T reasur~
Regul ations Section 1.704-2(1) and shall be interpreted consistently therewith, including that 110
chm·geback sha ll be required to the extent the requirements for requesting a wa iver describcJ iii
Treasury Regulations Section 1.704-2(1){4) arc met or the requirements for an) other exception
prescribed by or pursuanr Lo Treasury Regulations Section l.70.t-2(1) are met.

         (b)     Partner Nonrccourse Debt Minim um Gain Chargeback. Except as otherwise
provided in Treasury Regulations Section l.704-2(i )( 4). notwithstanding anything to the contrary
in this Section. i r there is H net decreas~ in Partner Nonrecoursc Debt Minimum Gain during a
mxable year, then, in addition 10 the amounts. if any. allocated pursuant to pnrngrnph 4.2(a). any
Member with a share of" that Partner Nonrecourse Debt Minimum Gain (determined i11
aecordancc with Treasury Regulations Section l. 704-2(i)(5 )) as or the beginning of the taxabk
year shal I be allocated items of Com pan} income and gain for that taxable year (and, ir
necessary. for subseq uent taxable years) equa l to that Member's share of the net decrease in the
Partner No11recourse Debt Minimum Gai n. determined in accordance with Treasu1y Regulati ons
Section l.704-2(i)(4). This Section L\.4.2(b) is intended to compl y with 1h1: clrnrgebm.:k or
partne1· nonrecourse debt minimum gain required by Treasury Regulations Section I .704-2( i )(4)
and shnll be interpreted consistent!) there\\ ith. incl uding that no chargeback shall be required lo
the extent the requirements !or any exceptions provided in Treasury Reglllation Section I .704-
2(i)( 4) are met.

        (c)    Ouc1lilied Income O ffset. I( any Memb1.:r unexp1:ctcdly receives 1111) adjustment.
allocmion, or distribution described in rreaslll') Regulntions Seclions I .704-l (b)('.2){ ii)(d)l-l). (5).
or (6). items or CompaJly i11c1.1me and gai n shall be specially allocated 10 such Member i11 on
amount and mnnner sufficient lo eliminate. to the extent required by lhe Treasury Regulati ons,
the Adjusted Capital Account Deficit of such Member us quickly as possible. i\n allocation
pursuant 10 the fo regoing senLence shall be nrnde onl) to the extent that such Member "1.1uld

C mll'.\:"o\' AGlH,l·:\11: \ r OF 0 ::-. 11 Hill\ Loc;1s 11( ~ LLC
                                                               P \ ing any com·enlio11s
permitted by law anJ selected by the Managl'rs.

        (c)    All allocations pmsuant to this Appendix shall. except as otherwise proYidcd in
th is Agreement. bl.! cli\'ided among the Membe r~ in proportion 10 the Pen:cntagc Interests held b)
each.

          (d)     For pmposcs of determining a Member's share of Compuny ··c.xcess nonrecou rse
liabil ities'· withi n the meaning, of Treasury Regulations Section 1.752-J(a}(J). the Members·
shares of Compan) profits shall be deemed to be in proportion Lo their respective Perceniagc
Interests.

        (e)    To the extent perm illed by Trcnstll) Regulations Section I. 704-2(h)(3 ). the
Mmrngers may treat nny distribution of the proceeds of a Nonrccourse LifS ............................................................................................................. 1
           1.1 .      Defil\ed Te1·111s ........................................................................................... .......... .... 1
            1.2.      CoJ:struction ................................ ............................... ............ ................................5

 Al'<.T.lCI.:E ll OROANlZATlONAL MATfERS ........................................................................... 6
           2.1.       Formation ..................................... ............................................................................6
           2.2,       7-.Jt\me ..... ,...... ,,,.,,,., .. >··tr·· ~ ··•···· · ···· · ··~···•· • ·· · · · ·········· I · ·· ... ,........................................ ..... 6
           2.:i .    . Rcgir-1tcrcd Ofticc ml211-157. jl~P.'J.IO~ll(lll!llMI IM

                                                                                                                                                                                                            MR.235
                                                                                                                                                                                                          CALCE01434
                  6. t.                     or 1.:1nbi lity ................................... ........................................................ 14
                                  f..,ilnit1.1tio~
                  6.2.            lndcmnilicntion by. Cornpnny .................. .. ...... .............. ....................................... 14
                 6.3.             Conduct Nol P1·01ecied .................... .... ........ ... ............. ...... ..... ........ ........................ 14
               . 6.4.             1nsUrflflce ........................... .......... ..... .......... ...... .... .......... ..... ............ ... .. ................. 15
                  6.5.            Sti1·\ 1Jvn) .,,,,,,,, ..•.. J , j , . • . • • , . , , . ,                                                                             t5
                                                                                               • • • , . . . . . . . . . . . . . . . . . . "' • • • • \ , • • • • • • . • • • . • • • , •• , . , , • • • • • • . • • • • • • • • • • • • • • • • • • ••• , . , • • • • • , . •

. J\RTtCLF: Vil BOOKS AND RECORDS: REPORTS ................................................................ 15
                  7.1.            Maintcm1::ce of and Access tc Bool~s nnd Records ............................................... 15
               · 7.2. .           F isca l Year ... :.... ............... . ............ ., .......................... .. ....................................... 15
                  7.3.            Financial and Opcruting Rcporls .... .............. ......... ... .... ...... ........ ... .... ................... 15
                  7.4.            TnxRcporls .................................................. ............. ............................ ................ 16
                · 1.5.            Trnnsmission of'Comml1nlcntiom: .................................................... ............. .. ,... 16

 ART!Cl.E Vlll ·rAX MATTRRS ....................... .. ............. .. ......................................................... 16
      8.".I. Tct;< Clt1ssiric<1li()n ... ,................... ,.......................................................................... 16
      8.2. Con1pnny Retui·ns ................................................................................ ................. 16
      8.3.· Tax Ek~tions ................................................................................................ ........ 16
                 8.4. · Consistent Reporting... ............... ............. ............... ................. ........................ ..... ; 7
                 8.5. ··· Tux Proceedings ......................... ,. ...........,........... ,............................... ............. .. .... : 7
                 8.6.     Information nnd Doc;.;mcnls lo Cornpany ............................... .............................. : 7
               · 8.7.. Survival ........................................................... ...... .... ............. .......................... .... !7

 AR:l'ICLE·iX MCTETlNGS ANO VOTING OF Mf.tMBERS .................................. ................... 17
                 9. 1.           l\tleetin[;s .. ................................................ ........................................... ................... 17
                · 9.2.~          Voting .................................... ..................................................... .......................... 18

AR'l'ICLE x "f'RANsh:m. OF MEMBERS! llP INTERR8T8 ................... .......... .. ... ... ................ I 8
                  I 0.1 . . l.. imilalion on Trnrn:den; .......................................... ............ .................................. 18
                 1O.?..          Permitted Tr:.msfor of Mcmbzrship Intcrcsl ........................ ................................. 18
                  I 0.3, Righi of First Rel\1s1d; Tag-Aloht-; Righ ts; 'l"riggcril\f:l Evc11ts ..............................19
                 l 0.4. Conditions to Permitted Tnms!Crs oi' Membor.ship lnterc!lts ................................. 20
                 I0.5. Effective Date; Dislribulions ....,....................................... ................................... 21
                 I0.6. TrnnsreJ'or's Oblig'°1tion:; .....,. .................................................................... ........... 21
                 I 0. 7. /\ssignc<::':i Rig!mi  ..,        Stntus \If fl orml!r ;\1le111ber ... ........................ ... . ,....... ,................. .. ,.. ,............ ,,.. ..... .23
                 ·-··).
A~TJCLE                 Xlll WINDING UP AND Tnt~M!NA'l' I ON ...... ,............,........................................L4

co~u•,\NY AGm:~;.~11,N r OF Ci.;N'!TlUO;'li                                 Pf.COS Ti'.llMl~.\J , LLC                                                                                                                                                                             PAGE
                    I hi
!w~IJ.1~7 f•l)i>,'J .I0.11/lllt>l /0-~l

                                                                                                                                                                                                                                                                                    MR.236
                                                                                                                                                                                                                                                                                 CALCE01435
                   13.J. Events Rcqu i1'iiig Winding Up ................................................................. .............211.
                   13.2. Winding Up Procedl;res ............................................... .. .......................................24
                   13.3. Continuation Wilhvljl Winding l.lp ........................................................................ 25
                 · t 3 .4. Liqukfotion of Assets nnd Application and Drntribution or Proccccb. ................... 25
                   13.5. Ce1tilicH:e ofTem1im1tion ................................. .................................................... 26
              ·· 13.6. Reinstatcmcnt....... ..................................................................................................26

     ART!CL.E x:r\1 ·\'ALU ATION :;................................................................................................... 26
                  14.1.            f'ail' Vnlueof(;oir1pnny Property ...........................................................................26
              ... 14.2.            Purchase Price ol' Membcrsbip lntcrcsl ............................... ,............................... ?.6
             ·. 14.3.              Vnluotion ofMembe:·~hip Interest<> ............... ............................................ ..,.........26

• . 'AR;ncLJS             xv GltN8RAI,.; PROVISIONS .. ,............................,. ..................................................26
                    r 5. 1.       A t1H~ ridme11 ts .......... , ...................................... .. ........... ... , ....... ............. ...    ... ,...... .. ... 26
                    15.2..        Notice............................. ............. .............. .........................................................27
                    I5.3..        Gover~ing Luw; Consent 1<1 .lurisdiclion ............................................................... 27
                    15,4.         Waiver.,, ....... ,...... ,, ...... ,., ...,.,, .... ,., .... ,..,,..,.. ,.,,., ....... ,,................. ,.. ,.............. ,, .... 27
                    l 5.5. ·      En!lre .1\grcement ........................ .......................................................................... 27
                    15.6.         Succ<:ssors and Assigng· ........................................................ ................................27
                    15.7.         Third Parties .............................. ....................................................... .............. ....27
                                              4

                   15 .8. Severtll)ility I•" ,, .. ......... · ~·····• 1•1•• · . ••" ........ .. "' ••••••••••. ..••..•... .. , . , , , .... ....... ,. , ~····· · .• .•. , ... .. 2'7
                   15.9 . . Constniction ...........................................................................................................28
                    15 , I 0. Excculion of J\g1·ccrncnt ............................................................. .. .. .......................28
                   15.1l .· fo\1rthe1· Assurance.:s .................................. .................................. ,....................,...... 28

   CliOJOl'IOill I l-l

                                                                                                                                                                                           MR.237
                                                                                                                                                                                         CALCE01436
                                               COMPANYAGREEM~NT
                                                              OF
                                      Cli:NTUfUON        Pli~COS TE~MfNAL          LLC

         This Company Ag:-eement or C .?nturion Pecos Tem1im1! LLC' (this "J\gres:ment") ISentered mto
                                                 1

  elrcdivc 1'.IS of Septt<;mbcr l2, 2014 (the ·'Effb.::lv1:: Date"), hy the per:;on:: identified on the !>i~iHlll1re
. pnge(sj bet'eoC

        \VJ lEREAS. the Company w;i~ fot·med pursu11nt w t1 Cel'tificat~ or Fornrntio11 Ii led with the
 Secretnry ot'Slwlr.: or tho St:;tc of' Texas ([he "t~1·riticqtt_Q.(fprmqtiou") effo:tive on Sep:t:mb<~i· 1'2, '.l{) 14
 (the ''FornllllJ.Q.:J..Qptc"); nnd

       WM EREA.S, the pnrtic~ dc~f!·c 10 provide fo1•the r·cgulmion ond mt1nnge111em or th<:: nflhirs of lh~
 Company according 10 thii-; Agl'e~ment nnd 1he Code (a:; her~in de!im:d);

                N<'.>W, THEREFORi~. lhe partles agree HS 17ollows:

                                                       AlfflCLE I
                                                      DEFINITIONS

          l .1. pefincg Terrns. The following definitions. und the definitions set forth in               1\12p~ndix .I\ !1.1
 tllis·Agrcement. apply lo the terms ust~d in thi!il Agreement for ull purpo!-!es.                                        ·

          "'AdclilioJ1al Cruilinl ·cpntriblltion'' means the sum (1f cnsh un(I the F:1ir Vt1t~1c o!" un>' pmp~rty
 ~onlrilrntcd  to the Compnny with 1·cspcct t·o u Mcnucr.ship l1Hc1·cst ns permitted under this /\g,·cc1rnml,
 lrn\ l!oes not include un !nilin: Capiteetl tr:insferred by u
Member or As~ign~e in v. Pcrmm~d 'l'f·r.ns1'cr, or :1~ 11 f>rohibitcd Tnmsfcr 1lwt the Compnny i~ r~q uired
by !nw H1 tecognize, but who hus 11ol become a Member•. i111d (b) H forrner Me111b~r us dest:ribud ln
1k~Ji.~1.11 .   1.u.

           1
            'CAlvl .. 1111::nns CAM Oil nnd N:1,w·<1l Uus. L '.,l'. n LnuisiH~!U limited linbi lity co 111puny.

       '·~opital C9ntnbtitic11" 111enns 1he st1rn of lhe lnitinl Copilul CnntribtttltHl u11d         Ac:~lithmol     Ct1plwl
Ccmtribulions, ifnny. with respect lo t1 Membership l mcrcsl.

COMPANY AGRer=Mt:NT OF C~:.NTtlltlON Pf:C'OS TEH!)lf,~/lf. LLC                                                        PAGE 1
3ii1457.1/SP/~3032/ll'10110911~ ~

                                                                                                                                   MR.238
                                                                                                                                 CALCE01437
            •·ccr'llurion'' mcuns c~mnil'loll t.ogi$tics LLC, ~1 'l'~:-:us li1~:itc~I lktbility c0mp11n); nml u Mcmhcr
 of I he C1mipnny m; of !he ~ffoctiv(.o Dute.

       "(ertlticnt~ or Fq1·1nmiill!." means ltrn Certili~111e of Formation ld>::nti!ied !11 Lhe rei.:itnls to this
 Agrec1m·nt, as snch ccrtificat~ may bt! cnm-:ctcd, rn~'i::11clect, or rcstntcd.

           "Ce1'1i-licme of MeJJ,tbersl:WiJnteJ'est'' menns ti cet·ti lieu!~ l'eJ.)resenllug « Member':;           M~rnbc!'shif'
 lfl1Cl'Cs1 in a fom1 approved by the Boal'cl or Mrt11Hgcrs.

            ··f;Q.U\R.fl!1Y.°' n1cans tiie limited linbility co1:1r:~n>· formei.I pur$i1mH to the Ccrtifa:nte ol' Fmmat~on.

          •;Chn11g~ of; Con1rnf'' menns ;.vilh relipec\ 1~1 a tv!embet» l hnl the owner~ ol suGh Member (as
 e,xisting as or 1hc d111c hereof) shnll (i) cemst: 10 ow11. direi;tly or indirec\1y, 51.0% of lhe out.stnnding
 ownership intcrvsts 1} f st1ch Member, o:· (ii) ccn~;,~ to ()Wl't or cxe1'Cisc voting con!rol over 51.0% or the
 01lls1m1din~ voting inlCl'l!!i\S of sui~h f\1lember.

         "~'ontrol" t11 Clll1S 1hC pOSSCSSt011, clir<~c!ly Or indirectly. of the power lo dirCt~l nt· t:\11d uller establishment .111d
muintemmce' of s11ch cash r~set'ves 11s the Boal'd or Mrinugc"s dctcltl1incs· shollld be rewinccl lbr the
rensonabk C\lt'renl and l't1tul'e ncecl11 or the Company's husinc.. CAM. whelht:r
pul'Slrnnt lo ~cctio~1 tl.2( b) M this Ag1-cemcnl or olhe•·wisc.

          ·'CAM Prderred RetUrn B11ltclb:Ted
Roh..11'~' 13alancc. no ded,1crion shall be mi1dc for any tax             ~lisl1 ibt1tions   111acc to CAM, whether pursuant tn
Section il.2(b) of this Agreement or otherwise.

         "E1Ui1i' means ;my geni:nll par111c-rsl11r. li1111ted purtne1·s::l p, t1milcd linbdlty Pi0110G 11 lnt or uny other nght rc:-icrvcd ~rndcr this Agrl!cmcnt 01 tht.: Cod~ \:1;1;hisivcl;v 10 u
 ~1fomber.

               ~'Perci;nmge lni~r~~f'    means,. ' ihreutened, pending, or completed nci\011 or other prot.:ccding,
 wh~~1hcr          civil, ci·iminal. administrative. al'bitrnti vc, or invcstignt i vc; (b) un nppcc            of uny. such
proccctllt1g; and tc) an inquiry or invcstig<\li(>n thnt could le;.1d 10 any swch p1ucecding.

           "'Prohibi!cd Ttrmsfci·" means imy Lrnnsf'cr uf a McrnJcn:hip Int~rcsl thM i$ not n Pc:-inilted
Trn11s!cr.

           ''Rcdcmplion Nol'i;;e'' is detincd in Section 10.3(c)(i).

           .. Req§motion QpliQ;~'' is clctined m Sectio11J.03(c)(j).
           1
               '~Bbstltuted ft1£JID2£t°   means a person who is atlmiltcd        illi tt   Me111bcr pu1·Huanl lo ~££!l!J.!Ll.Ll
With 1·e~pecl LO the tronsfer o!"~n existing Membet•ship Interest.

           '   Tretl'sun Regy.!.f!.!it)ns'' meat:s the Treas111')' n.:g11!ntions p1·onltitgalcd under the !. R.C.
               1

     ' "Ir.iggeri11g H.vent" l1,e:ms the nrsl lo OC«~tll' or (a) the clnte of a Prohib ited Translcr, incltJdillg
ony trahsfcr to('.) a Member's lrustoe in ::.111nkn1ptcy, (ii) n purchiiscr til 1my t:r~ditor's or court st1lc, {iij) n
Mcmhcl''s spouse purs111111t to a decree or n  n third party (as a going concem nnd not n!i n liquidshon) fot· ·foj r· market ·10l~1e ancl
the application of the proceeds (lf th~~ snlc uc.:cording t(I Section 13.4. Tl1e Triggering Evc111 Purchusti
Price will be del'ermined (a) if there ls in effect as of ti1c date cf '.:1e Triggering Eve11t l1 vnlj(I Certif'iciltC
of Fair Markel Vulue in s.;bst11ntinlly the Jl)t'l'n allr.:ched m; Schedule fl executed by all Members, IJ_v
retb"1;:11cc to the folr rm1rket v"luc lbr such Membership tmcresl HWl\,\I. LLC                                                      PAGE4
G:114!l7,11S1'13l032101Gf/O!l111~

                                                                                                                                     MR.241
                                                                                                                                   CALCE01440
 Mr.rkcl Valli\~, timl (b) if lhere is no such Ccrtilic~1t() of Fhir M'irscl Value e/'J'cctivi: with n:spci::t to lh1~
 Triggeri ng l\vcnt, (i) b;t ugreemcnt or the Co111pnny m1d the Offl!nng M:;mbcr or the Offering Member's
 succ1!ssor in interest. us rpplick1ole. or (ii) ir no stu"h ~tgreenicmt hi rc;;~~ lwi.! wilhin 30 days e1Hcr the
 iSHllHm:c or 1he Reclcrnprion ~Joth~c, by QI\ independent uppl'~liSCI' d1os"n 11'1\IWf'lllY by lhe Cvided. lli,~.
 thnL in I' dec1-e<1!;1; Triggering l~v<::nl P\11·c.:h1.1:.~~ Prir:': r.i' cuch Member·:~ Mc.:rnbcrshrp h~lerest
 accordingly. Any fair rn1.1rkc: valnc ilgrcl!d by tile Menibcf::i i~1 n Ce1 ldiculc ul' Fuir Mu:·kl'.'.t Vul~:r; :-;ha ll be
 effective until .he earlier of (A) 90 days from the date set f()l'th in any s1a.:h Certificate ul' r.iir 1Vli.11·ket
 Vtdt:~. m (A) th~ t it~ purt, w1d 111 crtl~ct
 from lime lo time, including rnles Md regulations p1·omulga1t:d thercundcl', a11d reference lo any section
or other pro~·tsion of uny !egul req11ircincnt ntc::cms 1;1nt provision of such lcgul r~q u ircment lhlrn U"I:! lo
time in effect und cc:nsriMing lhc &ubswnlivc Ctm1mcl111cnt, modilic~Hinr.~ 1:odifki1tion. rcplnccmcnt, or
rci!riactment of Sl!ch $ec:icrn m oth1;r provisio1\.:.

                    (I)                                1
                           ''hereunder," ' hereol~ ''ht!reto~" iind vvords of' similar import rckr to
                                                              11
                                                                                                                                ~'.1i:;
J\grcement a~       a whole ~md nol to ~my partictilar· Article, Secti011, :w othel' proviSillll h{:ruti!';

               (g)     1
                        'inc:Jding1' (and with it:; cor;'::!lfltivc meaning               ·~inclu:l cl>) mc~ins   including without
limiting 1hc generalily of any description preceding such term;

                     (h)          "or" is used in lh.:: inclusive '\c:1sc or··mld/or":

               (i)      with rc!ipcc1 10 lh.: detci·mimllion t)!' rniy period or tim~... from'' 111en11s --rrnm nnd
inclHding'' und ··to" means ''lo hlll excluding.. : nnd

                    (i)           rc:fon:rH.:e:> to   ngr~~mentu   or olhCI' do1;umcn\s refer os well \o nil uc.:dcmla.   c.~hihit~.
sch~dul~~ 1    or umondmcnts            Lhcn~to.

COMFAN'f A<3RJ?.~MENT OF C:!~N'l'tlltlf>N PF:co:i TtH1,l1Nr\I        f..,l,C                                                PAGt;li
621i4li7 i/SP/330J2JOi01/0g1114

                                                                                                                                             MR.242
                                                                                                                                          CALCE01441
                                                            ARTICt..E ll
                                                    O!tGANJZATJONAL MATTERS

        2.1  For111a1io1t 'i'hc Cnmpany wmi formed pu~uruH rn the Cfrti f'icatc nf Fot"~ntio11 cl'fcuti v·e
 us ofthe fonT,~ Dni°e.
             2.:2.      N11mc. The Company's !inmc is us sci torth                 i:~   the Cert i·f;c;-itc;: of r:·ot·rnMion. '!'he Board ol'
 Manngers may change. the Company m:me Ht any lime without the npprov.:I or nny Mcmhcr by filing .:1
 ccrtilic.:nte     or mrnmdment to the Certific:.1le elf Form<1tion. The 13oard of Vh1;,nge1·s shn!l pmvidc notice: ol'
 ony such ~h;'lnge to oll Mcmbcnt Tho Company's business mny be c' i11 the         IJ11ik~(I   St'atcs where
rucord!; ure to be kepi or mad~ avai lab I~ under Section ! 0 l .50 I of ihe Code shal I be ns determined by
the Bonni bf Managers. The 13oard of Managers may change i·he Company's p1focipr.! ol'lice in tl1c
United States at tmy time 1..:pon notke to 01e M~~mbers. The Co:npuny shall keep m its reg1~te1·cd of;i;;G
m1d mnke available lo a Member on rcosonabk 1"'.:;qucst 1he slrc~t Hcklre~s of the Co111pnny•s prindpal
nnic0 in the Llni1ed Srn11!S.

            2.4.       T~J.!!1,      The Cumpm~y will       ~ontin11e     uri1:11ermim11ed in accord::   the
poweJ'     to do any nnd all acts t'eHr;onably rel11tecl lo iis pw·pnl1es.

           2. 7        Company Proper lj:'..

                  M All Co111pt11~y rrop<~rl)' :;hnll ho owncci 111 the nmnc of tho Cnrnpm1)1 nnd nol i11 1hc
oun1e of uny M~mbtl'. No Mt~mber 01' AMsignt:c will huvc uny i11ten:s1 in sue:~ Co1npt111)~ propi..:!'ly-sull.'ly
by ri::nso11 of the f\'lcmbcr's sta~us as u Member.

                 (b)  The Board of tvbnag~rn shaH cause all funds ol' thi;: Compimy to be d(c.;pmritcl.l 01·
inveslc-d in u11 nccmmt or accounts m the narnc of the Compa1~y. No fund~ other thnn 1·he funds of ~nc
Cornpnny may be deposited 1he1·ein. Thn runds in such n<;-.elusively lor tbt:
business or the Colilpuny (i11ch1dl11g distribution~ to the Men·,be1 s) i1l~d m,1y be w;thdrnwn ouly by·
persons approver uriy pttrposG5 nthcr lh.un income: tu:.; purposes No provision of thi~ Agreement rn.1y be
 uon,sl t'tt..Jd to !')Lt!J.gcst othe1·wisc.

                                                             ARTICLE HI
                                    C1.\.1°1TAL CONTIUUU'fJONS: CAPrTAL ACCOUl'\TS

            3.1.       .l11itinl C.apitit! Con'tribuli9pe. Each M~111bc1 ·s Initinl Cnpitul Con1ribi1ti11S u1· Cupirul J\l'C{iUnl ol uny Member.

COl\WANY AGREEMeNT oi:- C1·:N'l l•Ht0.'< PK<:O!' 1'1m~11N1\I , LLC                                                            PAG!::7
lll,145T.11$PtJ30J210 J01/09111rl

                                                                                                                                             MR.244
                                                                                                                                           CALCE01443
            :1 .5. .M~ru.ber L2an~. '1110 Compmiy· may bon·ow money from one or more Members lo lhc
  cxten1 the Bor.rcl of Mmwgcrs deems appror;·intc to the contluct of the; Company bus i nc~s on lcrms llrnt
  comply witb lhc 1·cquircme1H$ of Section S,S{b)[iii} (rclnting 10 related pnrty l1'H11S()Ctio11s) The wnount
  cfimy loim mmlc to the Comprn1y by n Member wi'l 1101 consti1~:tc u c~1pilal Contributwn or uthc:rwisl.!
  11ffoc1 s11ch :vfom!Jer's Cnpitnl Account rn· tv.fembcr.-hip Jn len:sl.

                                                                      ART1C'LE 1\t
                                                                                     l)ISTt~rnurmNS
                                                               1
                                                    1U.LOC/\ l'!ONR ANO

              4.1.          Allocnllbn ol' Profit or Loss. Compm1y prolits . For t:1'.s purpose. o Mcrnt/e1· or /\ssigni:c i:i dl!cmed to huv~ on unltJ111.lcd t~l< liability for a li.1:-<
 yer.r to th\'! extent (i) the crnnulative nmo~1J1l 1jistribulct: lt' the MfJmbcr or Assigncl.:.'. tmi.Je;· Section 4.2(a'j
1mcl advanced Lo 11tc Mcr1bcl' or Assignee Lmder this ~~Qn 1.2(b.} (and 1101 previously r~covori!ltnl ~he Membci' or Assigi!e<: \\\11t.ld otherwiso be cnli tkd w receiw under s~~1.:1icm 4.:2{n,l, he tri::ti;ed
as nn advm1cc i:gai 11st~ und slmlt be 1\:cMc1·cd froni. 1unnu111s .subseque11rl)· di.:;tribumb:e umlcr ~ctio.u
4.2(a). No interest shall be chmgccl on :my st1d1 t.l;:c.:oin<.' tu.I\ wilhholding) , All.
 amou;1ts Sl\ witlthdtl ·from cii::itributions are deemed to hnve bec11 distriblltecl 10 th~ person othc·,wisc
 entitled t<> 1·ecdve the timounl so withheld. Tci the extent un am\1,ml ili paid l>y ,he: Co111pn11y·on behall'ol'
·a Member or Assig1\ec but nol withheld from a clistriblttion, the amou111 1n1icl con:-;titutc~ 11 1001~ to such
 Memb~r or Assig1lee. Such loan beat·s inlerf.ll\ <11 lhe Index Rt11" a11d is rnpay~1blc~ on dernanci or. t'l the
 electinu of the Board or Mmrnge1·s, ls 1·epnyuble out ol' distributlons tn which such Memb·~r 01· As!:ilgncc
 wou1~1 othl~rwise       be entitled.
           4.4.       U111itnti(l11 ·oi'   Distribution~.

                · (n)       The C.\H1Jj1m ·y may 11ol 11n1ke o clb:l'ribul'i:m lo <1 Member m· As5ignr.c if il wo-:ld
 1cndcr lhc C,-:impnny insolwnl. dc1cl'mincd in nccorclanl:c wilh Sc\;tion 101.206or1l1c l'mk. A Mc111''>c1
 or i\ssi~llC(I who l'l.'!l!eivcs n uistribution in violoti~·ll o!' St::.!ion 1Ol.206 DI the Code is 1101 rcqui1\.'d lo
 rctum lh·~ cJislrib~ttion CXt;<.:pt ru; required in s~clion I() 1..206 of the C0ctc,

           · · ·(b)      The Mc1i1bers shuP look sGlcly lo lhc 11ss~ls of the Comprn1y !'or ~my distribution$,
including li Mcmb<;;1· h~s ~my recou1·sc ogainsl thc scp111·11tc 11;;sets or n11y 01hc1· Member.

         4.5.    lio Rig.ht to Partition :w Dis1ributjo.o~ ill ](JQQ.. No Membci- lta;; Oil)' right, nnd wuiv~s .:m)"
right'l hal it might "therwise hnve, to couse nny Compa11y proper~y to be p~1r~iti<1nctl und/or dislribt1lcd in
kh1d, E·:\CCpt. us provided in Section l JA!.!.D (rduting. to liqiiidaung dis1;ib:..!tir.ns), lhe Compnny m~y not
nwke uny distrib~aio11s iu kind.

          4;6. .!Wco.yer;,.;_cil~.ruJ.§.Jlli;1db1.1liomi. .If the Company hrs, purswml l~> lll'Y clcnr nnd
imtnifosl m:t:'ounting ot' similar errnr, diS:tributcd to ::t!1)' Member un nmm:nl in excess o!' the mnmml. to
which lhe Member is entitled put'sunnt to this ,6,grcemtnt 1 the Member shnl! reimburse the Co111rnny ln
the l!)l!enl or such excess, without interest/ Wlihln JO days aner dcmrn'd by tl1e Cor:1pony

                                                        AH.TiCLE V
                      l\'f/\NAGEMF.NT~           ACTrVfflES Of MANAGF.RS AND MEMl3f.RS

           5.1.       Manags.me11l und Control o!'Comm111y             (~us inc~s .

                 (a)        Subjec.:I \ti ihe Jimilatiuns sel '.hrllt in thi:> Agn:1:rnc11l, tl 1 1~ Fhnin.I ol' Managers has
t~Xclt:!dve mnhol'ily lo manuge und co11duct the Compuny's business. The 13oard of Managers sh,)11 do ull
 thir1gs approprl~1te to carry out the Compuny"s purpose and tJ1c.; t1•;1ns11t.:lionll 1.:1111tc111plntcd ty this
Agreement. Except .-i~ otherwise prov1c:cd ill this Agreemenl, nl l uclioris thut the l30<1rd ol' M1.Hrngcrs mny
lake ,\J, l1LC
e2114M.1/SPl~~032/0~ 01/001 1 1~

                                                                                                                                  MR.246
                                                                                                                                CALCE01445
                 (b)   ·!:'.txcept us pl'OVided in S&.filions &~5(n} (reh1ting lo tax molters), the Mcmbcm; mny·
 l1ot take purl in the mtmagemenl or control ol' the Company business er bind the Comrmny in their
 cap~Jcily a:; Members. The Members shall not have the right lo vote 01 otherwise co'1set1l ur withhold
 1.:0i1SCl't 10 i:ln)' klctionS taken by the l3t1Ul'd of \ll:i1~uge;1•s ~XCCj)t wilh fCSj).!CI lo SLtCh liillltCI"$ tlS UI'~
 <;.)(pre~sly ~!nted In ;h1,') Agree111e11t.

          5.2.     . &.~i~m1tio_11,· R~mgval, and R~ruru;£ment ol Mnml'J&r~.

                  (H)    JTu.?.jgnulion.. J\ny Mu1rnge1· mny l'esign ns n 111:111nger of the Compnny upon notice
 lo :'Ill M~mbc1'<>, which resignation shall be cl'fcc~ive im1ncdiHt'cly 11pon delivery of such notice. A
 Manager is deemed 10 have resigned ns ti mn111;gc1· ffi' the.: Comr>any cffoc1ivcly. imml.ldralviy uron 1hc
 lollowing eve!1l!I:

                           (i)   U11)i· CVe111 ~pccdkd l :1 Section 153.l.55(l1)(4) or Scct1011 15:3.155(n)(5) oJ'
          the Code (relating to bankrnptcy Oi' insolvt:n~r pn.)cei::dingg with rc!!p1.;c1 lu r r1::1novnl u Mqjority-in-incrcs! mny c:ecl
 l:l replncetnent Man unanimous vote or written consent of the Mm1agers slrnlt be
rcqui1ed l0 ap1wovc any action by the Board of Managers. In the event nn ;iction i~ t1pp1'rnt,k l1S        !l pt1rl 11cr$ilip   r'or l'edcrnl   111:.:ome ta~
  purposes, \lr (ii) take a pc1silion inconsislent with .such lreatmcnt.

                     '(d)    cause the Cor11fla11y to (i) muke l.l gcnertd as.slg,11me11t li1r lht! be11clil orcmditor~.
 {ii) ·me f-1' \loiuntnry b~111krnptcy petilio11, tJI' (iii) $ei..!k <111 oriJer for rel kl" o~· c.l~e l m•nti:m er it1soh1i:ncy in my M~mb~r !ilhcr
 tlrnn pt1rsl1nnl to .S.£,;;.tip11..f,,~ or Article XI;
                  (!':)  c:.lllse the Company lo lU.:qlJire .tny equity ()J' debl ~t:clil'itk::; or t:ny j\'fcmb1~!' ur uny
 Affiliiltc or n Mcmbc1., 01• ori1crwisc make lt~ans tt.11111y. Mc111l>;::f or My/.\ l'filiatc ol' a Member;
                 · O      cause lhQ Company to Ol:quirc from t111y p'!rson uny eqt1il) ur debt ~~clir:!iei: or
                                                                                                            1

;issets· oi"    any corporntion,!imilt'tl li part iciput~ i:; m1y merger, consol ioat'ion, lrunsfor,
 continuMce, or conve1·sion of the Compuny with 01· rnto any c1thcl' pcrnott:
                 (k~    cwse the Company lo pa1'tkipi:itc in any 1·co1·gimiznt'ion in which Membership
!merest": 11rc exchungecl fo,· or ccin vcncd i::tn Ci.\Sh. securi!1c!:: ol nny nth~r f)l!rscw1. m othc1· prnpcr;y; or

              (lj     sell or orherwise di~;posi.: of u: J or· substt:ntinlly nll of lh~ Cw1~pt'l11y properly,
except in e1mncc1inn with winding np lhe Comp~tn)' us permitled in 1hi:o; f\gr~<;1m:11l.

                      (u)           The Board nf Mmrngcrs may          1)Ull5C   the Compnny    u:i   hire such cmp loycc!S und
ag:.:l'lls ms the Boi1rcl of J'vlam1g~rs dee.·ms t.tppropriHlt: IO; the C:Ol'IC:tlCl or th~' Compnny's.business.

                 (b)   The Benni or Mtlr1iJgcrs lllclj' CS\ubfo;:~ t1rficc:; ;111•.: •IPfXlil11 officers 1~r the
Compmly, Mcl mny clckgatc to sLtch olfo..:cns uny ol' its· 1.1~1thonly lwrei.tnckr. as ihc Bomd or Murmgcrs
deems upprn11ri;:te. The 0Hicers m;iy be Hppointl"tnnd~nls of condw;t us
 Apply lo u i'vlum1g1~1· as de~<.:ribed ir1 Sec:jon 5.9.

            5,7.       Reliance.. Persons dealing with the Company n•ny rely co11dusiv11ly 011 the uuthori1y or
 th~ Bom·d         of Mum1gt:rs m; ~li!l for~!; 1r. this Agn:rn1cnl. l!vct)' do .'11ment ::xec~11t:d by tiny Mli under Arlicl~-YL find doc:; not limit lh·.: Compi:ccling shrill be reimbur:.t·d u::. paid •.: r in~urred . 'l'ht right to imh::mnilicalkir: t.lmforred in 1h i~
Aili_clc VI is not e-"'cl usivc ot' 1111y othc1· 1·iglH that any pe:1·so11 1m1y h11vc 01· hcrcalk t acqun·c ur:cl~1· an)'
sfututl.!, · ~·l~treemc!ll, vote or Member~. l) I' otl11!rWJS\.!.

                    (<1)    "J'hls A;'tii,;le VJ docii 11ot opc1~.itc 10 lli11lt linDllit)' ~11· m indem11iJ)1 a rers~rn to                           th(.:
ex1e111 Llie pl.!rso11 is found liahk pt11'!HHll1l to a li11al judgment 01'~1 court of c:o111ptlcnljt1risdic.:ti<11' t(w:

                         (i)     an m:t 01' omis~ion th«l involves gr\ls!'.> ncglig;;ncc. i11lclllio1ml 111isc1.1mlut:t.
           tW u knowing viol111wn of l;1w.:

                                    (ii)    <1 trmU:fol' Ol' ~\liemptt>:.l l1'l'l iOll   of ti fvlt;Olbernli1p hllCl'cSl
           in    Prohibited Trnnsl'cr. iii iVlanagcr•s resignation in violation ol' Section 5.2(u},
                tl                                                                                                                        ~1 r u l'vlembcr
           c1.;u~ing to be i1 !Vhm1b~r in vio:11ti1.1n l1t'kQ!J.M..l.2J.UU;

                                    (iii)    H will ful or reckless nrntc1'iol ti1·ench of ~!1is /\ercc111cn1 oi· nny other
           agr~cment rc!nting to            the Com!)fmy's business; nr

                                    (iv)    ;..in act or omission for \vhich indemniflcation i:;                      prnhib 1 ~ed    by law.

CciMr>ANY AGRI:l?f"lleNT or- Cl,i'i·rvmo.'I Pl:( ·os 'fl·;in11rt,\ 1.. LL('                                                                     PACE: ·14
4211G47. 1iS?/:l~C)l~/0101/0$1i1A

                                                                                                                                                                MR.251
                                                                                                                                                              CALCE01450
                       (b)          Nu rmwision or t his Ag1'Cc:mc·1f rcqui1·cs the Compm1y lo p pc1wc1· to indemnil'v snch 1jc1·.son
 n1,wi11st· such e?ipen:;e, liability, or loss u11dc1· the Code.

          6.5.     $lll'vivi.1!. The indc111nitk::; pmvidcd lh l' in this i\gr1;<:111crn SW'\'JVt: thi.:: lr£\11l>l~r or WI
 h1dcnmified Pot'!\silicncion as un lndeinniliec: i>erson. trncl the: 1~~rminn1.nn of th:s Agr~ement t1nd
 the C.:0111pa11y,

                                                              ARTICLE VU
                                              tlOOKS AND RttCORDS; lU~PORTS
           7.1.     .[vlninLcmmcc of and Access 1:0 Books and R~•!ord:;. ' l'h..' Compony sltnJI m11inl11in ~uch
 bo~)ks ·and 1·ecords regnrcling ih~ Cu1i1p1my's business ~tnd propertir,;s as is 1·cmi1.111al>k, mdudmg utl brn!k~
 ttrtd 1-cccw· equity. for sue-Ii r•'iscnl Yeiw. e<1ch in
1-e:iso1rnble dcl:ovc:·ies dul'lng the
fisc!ll q11nrtcr1 irntl n dcscl'iption ol'm'I)' Prncecdi11gs involving          th~~   Compnny; um;

                   {(")   (I ~U1te111i::nt or chungi.::s in tliC~ f\'lt~mbt~r'~: Cupilul .l\<,:count (llhi.lW il1g Lhc l1ulunce in

1hc :\lh:m1h1;r':1 Cnpltul Accou:1 1 ns or the bcginn 1'.1g of' the J'i::;c~il Year, eontl'ihutio1is u:• dbi1·il'nll iuns
drn·ing lh~ year, ulkJculions 0:1 profits a11d losses du:·ing lh<.: yc:ar. any othc:: <1djust01cnls lu Lhc Capita!
Account bolanccs during the Y!:.!HI'.,  slw! I dcliwr l'.1 Cl1Ch pc1·~011 who
 wns 11 .'vtemlicJ or A~~ignec 01 uny time during the p~~rloJ coven~igne<:. th~ Bonn.l M Mui~ag~rN
 ~hall  delivcl'     to such person· inform<1t'ior1neces~rn1·y lht· the preparn1ion of' My tax ren1 rns thm mus: be
  liled by s~1ch     per~on, including information 1 1ec~ssrn·y for cstirnnting uncl pr.yi11g estit11r1iccl 'ICl'lt'Hth·c adjustment of' pa:·tnl'.rship ·items under l.R.C.
 !'iccrion 6227(n) if such rcquc~\t would cmt'.'lc the: Ml•rnbcr"!i lrc<,tment ot' th~! item to be im:om>i:-itenl with
 lhe trenlmenl o:· d1e ilt!m nn the Compm1y':> retllrn.

       ·· S.5.        JitX P1·ocecdi11gs.

                   (a)       John V. Cflkc ·shn!J be the Company's tu,x mnttcrs pmtncr ns defined in l.!~.C.
 Section 623 l, nnc.J shnll take such actions 11s uri:: requirc~1 to be dcsignutcd thi::: lnx mm,crs pnrlncr u:;de1
 r.pplicnble Tre<~$) slwll llc pnildi11g nt lc:H>i 15% o!'thc l>cn:crHuge:: !nrerest hckl by lilt: Memb(tr:;. M1:•.:tlngs
sl1t1ll be ht!ld nt the Comptllly' 1S pnneipul pktcc or hu!'il\<.'!!S [)l' lil .~llt:h \1\l;er rcasonublc pla::1~ set forth 111
the noti(:c of lhe meeting.

COMPANY ACReeMENT Of' Ct:N'l'l l HJON P~:co:; n:a(lrt'i;\l.J.i ,('                                                   Pt.GI: 17
U?11457.1/SP/33032/Q10i/091114

                                                                                                                                    MR.254
                                                                                                                                  CALCE01453
                      (h)       Any: ur.:tion lhul :rn1y bc lnkcn 1.11 H M:!mbcrs· meeti ng mu)' be t:1kcn without·
 !1 o ldin1~::1 111•~eting il'M..imb1::1·s howing.11! lcilsl the minimum Pe1c;::ntuge l111.er1o:st !hat would bl! m~::essa;·y
 lo l~ ihc Ul:lio11 ut (\ mc1;:ting, in which ca,;h Member entitk:d to V' V(ll<.! tak<.:11 .11 ll 111t:l'!ti11g, 01" lhL' J<.!8Ultx nl' llrl,Y
 solkitbers not h1ter ti··an with the
 deliver)! of'lhc> 1J1.::~l fhllciwin!,.:. n~port of' linancinl inlbrmntion given pursunm 10 SectiqJl.Z.J.

    .       9.2. Vg(iJJS: A Member 1m1y vote at a 111eeling in person, or by fl pr0)\y executed in writing by
lhe Member •ind received by the Board of' Mtu1ngc1s pd or lo the li rnc wlwn 1hc \'oles ()f Mcmbt:rs :.ire to
be counted. The provisions er il1c Code pcrLai11ing to the validity l.tnd llSC <11' pt•o.xics b)• shareholders or a
corporotio1~ govtrn the vll!idity and use of proxies t:iivr.:n b,r ivlemlie1·s. On:y Mcmhe1s nl' iec:Md on 1l;c
:-fol<: of' the meeting (0r ii' the vote is concb\!tcd without cl mec:ing rlwn on the dtitc of lhc 11\)tice soi iciting
ll\\J Member consents) may vole.

                                                    ARTtCLF. X
                                     TRANSFER ()Ii' ivmMnEH.SHff' INTERESTS

           IO. l,    Limitation or. T111!1sfoi·s;

             '(ft)    The 1cnn "trunsfor," when us~, m dl~lti1. •tnd miy
pledge, hypu\hecatio11, 01· uthei' encl11'11b111!iCl:.

                  (b)       N!i Mi:-mbcr may m1m1tb· till or any rmrlion ~1 1 · its Mt¢ ·•~bersh!µ ln;eres1 t111les8 the
tr    l; membci· or' !lie
             Member's oflllimcd g1·m1p (as dcl'i11ed in l.R.C, Section IS04(a));

                              (iv)     ii' the Member i!i n      trLtJllCC   of one   OI'   more employee •:cncfit       pion~. lhc
             lfa!'1sll:'r is lb n co-lnislce· or i.t sue~cssor trw the Mcmb~t pmsuant le 1<1c d~ath
             Mthe Member's spousf 01· 1er111imuion oflhe :~.nritnl i·elutionship or lhe Member imd the ~pcusc.

                (b)           Upon    11 · Pel'mitted   Trnnslcr by    ~\   Memhe1 of all orits Membershit'            Jnter~~l. the
 Mnmbci· ce?.ses lo       be E\ Mernbc.1· ns of the cffccliVC dote: or lbe lninsfot· determined ~\CC Mcmbi:•rsbip lnl~1\;::1I
 l'o mirifhc;• P'crl')Oll, the :;citing f\lkinhcl' shuJI lirst tlf1cr to sell stwh interest to tilt: Nher Mr!mbcr~ nn the
 terms on which it is pt'era!'ed w sell such lnte1·cs1 1<~ such P~rson by sending wriltt:n notice ro each other
 Memher describing the o/l'er and its (erms. Additio1mlly, upon receipt of an offur fh~rn u t'1ird P•ll'lY lo
pmdiuse all or any po11ion or o Member's inlefcst ;n th(z Company. whkh such M~~mbcr dc:sirc::i lti
nc1~cpt, such Mcinber shull promptly ~lcl i vcr a c(lp,Y oJ' the third ptirty o!'ll.:r· lo cuch other Mcmbc!'. End1
olhcr Mt!111bcr will have 15 bush1e::;~ ~bys from the dtilc of' 1·cc.cirt nf 11oth:c of the proposed ~ale of 11
Menibcr•s Member~llip lnicrcst or the third party offer, us the .:ase may be, lo notify 1he selling Mcmbci·
in writing H1 ~1 such other Member elects to (i) purchase the selling Member's M~inbt::nihip inter<:(';l upon
the rcnmi and conditions oJ· the proposed i-nl<= or third purly ofter, or {i1 l sell in the contempl ro be sokl in tf1e conrcmplnted
lrMl'>ter. as the cnse may be. If the olhci Mcmbccs foil to gi'-•c n•Jlt flcntloll within 15 business c1~1ys or nn
e1~Cli~)!1    to purchn!!e lhe selling f\lkmber's Meniber.ship lnli.:!rest or p<1rticipnlc in tlw contcmplEkd
1ra1:sfor, then lhe selli ng Member shull (I(! pern1iHcd. 101· ti pi th, l!~ird par1y upon th~ terms >ind ~I' the pl'opos~1 d snit! or 1hi1·d puc'ly
nllcr, ::-r 1nnJ.:cs an r.::lcetio11 lo ptu·i.:h.isc till. ~.:!ling tvkmber'!!
M'!01bersl11p I111\:!rc~n unclc1 §~Cl.!Q!l.) 0.3(nll,iJ. each ~if the pim.:lmsing Members :;hull purchnsc :1 portion
of rhc "cl ling Mcn1ber's tvlemb<.~r~hip lntcresl tint! is proporliumd to lh(ll M~mhiJI'<$ Ptr\!\::nlllc,;1' lnLcrr::)l.

                    (c)    (i ) Upon rhc occtn'i·cncr t~f n T "iggcrlng Event with respect to '111)" Member (th~
"Qjforin1.t. l'vfomber'·), Coinpuny sh;il l lwvo tlw rig.ht but nol llw obligution tQ p~u·~·.lrnsi: ull of 1he Olforing
Member's Mcmbe1·ship Interest in the Co1npnny at the ti111t Dt' tlH:: Triggc1fog Evtmt (the ·'Rt;dcmp litrn
.Qblli~,tG"). Witlli11 60 days nfk1· !hi~ Company receivt'!l written nut ice o l' the occurrcncr or (11nd date of)
lhc Triggering Event, the Company slrnll provicle wri1:1:'.n notice ofiJs ckctiOll of'lhe R~~dcmptk11 Optir.;n

COMPANY Acm~EMF.NT OF C.~:NTllHION          f'E('OS TElli\llNAI. LLC                                                       PAGE '19
6211 tG7.1/SPl~JD3U01B1/0~1'114

                                                                                                                                          MR.256
                                                                                                                                        CALCE01455
 lo the Ofler!11g Membet• m• the Offel'ing M~:mbel"s ~uccessor lu intcrc:!'L, u$ u('lplicnblc (tht: '"RcdcmJ;)lion
 Notice'} in the even\ th~ CompHny e:ects r~1 exercise the Redemption Option, the Comptmy s l1uli
 pL11't.:lrni11;.~. nnd the Oflering Member 01' lhc onering Member's successor intcrcsi, t\S applicable, shnll
 sell, all of' the Membership tntcl'est owned by the O(rering Member al th1: t.1111e or lhe l"rigg~ring Event
 at n price et1unl 10 the TriggcriJ1g Evi::nt"Purchasc Price.

                             (ii) . A closing (~ "Iri.ti.!l&ci.UR Evfil1t C.19.~illl:l") slrn11 b~ held 60 clnys ol'tl?r the
            lulu of' the' dntc of th: Rcdcm1>tio11 Notice or the d,11c thi1t \'he Triggcl'ing Gvcrn Pun.:hn!-ic Price
            !ms been tstab!,shed.

            .                       (11i)    /\t th~ Tl'igg.eri 1;g E\•em Cl~>si1,g, the Of'H::ri11g Memb~1· or Offodng
            Mcmb1:r's successor in interest, as applicable, sh:ill deliver to th1.: Company r.11 f!Ssigomcnt ol'
            Membership !11tcrcst nwnc~i by the Offoring Mc111her, duly cntkirf.lccl for :rnnstbr lo the
            Com puny.

                                (l~)     At !he rl'iggod11g Evt.:nt Cie~in~, 11w Ccmpany sh,11! P th~: Ollen11g Mcmb1;:· ()l' lhe Ol'!crl11g Mi.:mlx: t".~ .$l1C1.:c:m11 in i111~rc:>I, ,1;;
            cipplic~1b 1 c, in irn::·;ediatc!y availabi1: li.111rs (b}' wire; ccrti licd or bnnl c:'· applicHhlc sccuril ics
lt1wi;.

                       (b)     ·1he rranslCr will not ~11usc- Lhr Compa11y lo be trcutcd as other lhnn a por:1:c!'si1ip
for United        ~ Lmcs  lodcrnl inconu! tax 1rnrpoi;cs.

                      (<::)         Tho transi'er will not i.::iuse   t11c   Comp:my to   b~ S\1bj<~c1 lo   regulation   u11Ge1·   the
fnve~tmcuL        Comprmy Ac: oi' 19,10.

                  (d)   ·111e mrnsfor will not cnusc nny nssc:Ls of the Comp ht: sllt'licicnl tl> reimburse the Compniiy !Or the
 el!l i111atcd r..::q>cr::;C:'i likely lo be in(;Uff'<:d by 1.hc Cwnrm11y ;n conncctilll'I with :;t11,;h u·mn;ll:r.

                 I 0.5. . fillcctiv.:? Date: Distribut:ons,

                 (v.)    /\ Penri:tted Tn,1·nsfor oJ' ,, Membership lnl~rcsl is ~ff~ctivc i:1s uf th\J lit-st uay ()I'
 the calc:mlnr :11onth following the calendar month d11ring whi<;h the 13onrd of Mtm~gers recdvci; notice
 or such transfer (in such form and manner Ul> the BMrd oJ' Manngers may rcqwre) uu : .~ss 1hc Bm11d ol'
 Mm1a,gers M lo the Members· dctcnnin<:d m nccon.huR~ ~ with this Seel ion I0.5. wbt)lh;;:r
or nol the l3oarc.l ~ii' Managers 01· t '~c Cu111pt1ny h<1:; knowk:dgc of !In} trnnsfoi- ()j' *~;iy Mc1nh~rslilp
lnt~rosl.

     10,6. 'f'nmsforor's Oblig:.ilio,;~: The lt'nll$fol'OI' or l1 Membership inrereSI who l:e111>1!S to be ii
Member conlimtr:s lo be ohf igittcd with rc1!pcct 10 ill! Mt~m be:rsn it~ lntcn:sl or its stt1 ~ ;.is il!> a fbnrt:r
Me111be1· ns provided in th<:' Code and                ~ipplicablc   lnw.

            l 0.7, A~sigoel:!'s Ri1;1hts !1ml Qbliga.i1Qns. Unlt:!Ss nn Assignee b~comcs a Member pursunnt tt)
b.Jticlc_XJ_, sL1ch Assignee shall 1101 be entilled lo <1ny ot lht~ rights gronli;:d I<, u Member (cHhQt' •ntin us
1·cq 1.1ired by !he Codi'::), and shnll h ol' :ne
Cree wiLh l'i;:sp~<.:l to ~l Prollibl ti.:d Trnnsti::J :shull be jointly
 t:mf scvcrnlly linblt.. 10 the Cc1111pHn.I' !b'.'1 und slnill !ndcmnily Md il o!cl the Compnny h1nnkss ugainst,
 <~ny cxp<.m:;~. flatislktl:

                         . (H)           Ttie Boal'mpnny for
 the estimated t'~pcnse$ likely h> be incurn:                                                                                           PAGE 22
!i1.1 ~ 4S7.11Sl'/~~ llJ2/v1G11!i91114

                                                                                                                                                     MR.259
                                                                                                                                                   CALCE01458
                                                      ARTICLE XU
                                          WITJ40RAWAL OR RF.l\ilOVAL OF MEMIU:RS

        .           (ti) . f\io f\Ac111bcr muy withdrnw frm11 lhc Ct~ mpun)" or otherwise ccnsc                        w l~c u Member
 e:-.:ccp1 ui;on· the following events:

                                   '(i)        n trml!lfor   tlf   nil of the• Mcmbe!"s Membership Interest in             ll   Pcrmillcd

                                   (ii)        removal of the Member ns a Meir,ber m; provided in .S..9..~.t.i..9.!J~ oi" this
            Agreement.

                   (b)       A Member'slrnll be deemed Lo withN PECO~ Ti:HMtX;\ I,               t.l..C                                                   PAGE 23
U 111157 'llSPl3303210101I001Hll

                                                                                                                                            MR.260
                                                                                                                                          CALCE01459
                                                           ARTICJ .I~        xm
                                              WINDJNC lll' AND 'rii:nMINATfON
           i'1. I. Events R~..rn1Mng Wi11din1]. U1). The Compn11y slia!l coinmenci,:1 winding ur prnc1~lw·1:rn in
 w.ico1:cla11ce with this AgrccmMi {.lnd the Code up1)n the tirnl lti QCcur ol' the (01 l cai·1·y on its business (cxc:,.;pt tu the cxlt:;1I nccicssary lo wind up i•i>
 ~:n1siness), collect Hrt in this 1\grccmcnl as lhc
"l.l!luid9ll,1,r.'

                      (c)   'The Liquid910r mny dctcnmnc the time, m<1nne1·, and lcrms of any Sf! lc or sales or
Compnny pror:erty pursuant to ~ ·.1cli winding up. The Liquidator (i r nut the 13ourd ol' Marn1gers} Is
c11titkd to receive 1·cas.·onubk con-q:>M:>Mian li:ll' its services; rm1y exe1'Cise ull ilion (1i' linbi11ty and inclcm11illcatio11
right~ Si.'l furth ii1 Artii;le VI.

                 (d)      Tl1e L;quidc1101· slmll pmvid~ qlml'lcrly !·cports to 1hc Mc111bcrs uud /\ssignee!:i
during the winding (lp pJ'ocedure .showing the t1ss~1s unl) linbllltics ol' tile Co111;1a11y, provid:11g
i11fo11nnrion ;ind documents reqt1ired by the Members and Assignees lo C()nply wllh the:;· tax. 1·ero1·ti ng
'Jbligntions, and :;uch other informlutc1111::nt
selling J01lh tlie us~t:ts, li~1l>i l itios, und reserves of d1t1 Compnny as of llie diile of c.:on1pk:tion or wiqding
L:p.

COMPANY AGnE€MENT OF C1•:NTllHIO~ 1'1:c1 >,-:·TKlti\llNr\l , l.t<;
tll!H441. l/$P/J~03210101/0S1114

                                                                                                                                 MR.261
                                                                                                                               CALCE01460
            13.3.     ConlinunJ..on       Wllhou,Ll~iJ)dini{      Up.

                (tt)     Jf tht:•'C is U decision tu Wind Llfl tl!ld lc:·11iimllc the ( l11l1J.ltlil)I' US dCScr:tJ~d in
 Section 13.1{<1), lhc Con'lpan~ mll.y.bc continued o~ provided :n Section I 0 ! .552        the Code.          or
                  (b)      If thct'l'! •$ u rc1·m inaliM or ii !C! CO!~limu;d lllGtnbc:·ship of the lasl rcmnrnmg
 Mern be!' ~ls ckscrlbctl in Sec: ti en 13. I(c ), then pi ior to <.:omplelion of the winding up prcce!>!'; blll not le.~ tcr
 than 90 days nllcr' the cv\!nt or t1;;nnim11io11, :Ile Bmml of Mtmul!crs may contim;r; lht: Compuny by.
 1:1dmitting one or more M~111be rs el'fccl.ive as of 1hc occiirrenc.:~ or 1hc 1!v~nl or tc1'111in~ttion. Any.
 Assignee whose Pert~enhtge Interest wou ld be diuiiHh;lied by rr.f.\sm1 of the utlmiss1on of un Additiorial
 Membe1· u11de1 the circumstances described in this Section mus; uppmvt: lhe Hdmis~ion ol tlte Addi tional
 Member.

                (a)    In Oenernl. On wiuding up the Company, th\! Liq .. iclalol shall dispO!lt nl' u1e
 Comp11.ny'~ properties nnd r.pply ~in} in ;1ci.:ordu11tl:! with
           1hei1· 1·~lutive righ!S t'ncl !;rioritie:.; 10 sutisi'y th~ liubl li1je:i (11' 1hc Co1np~1ny, including 1.!Xp~nse;\
         · associatt;d with thc ·winding up um:I lcnnillr.Uon of the Co111pn11y, ht;t excluding nny Comp::)ll)'
           liflbility flit any unp:iid lvfandmory Dislributio:1s;

                             (ii)    to Members. i\!;signc:cs, l1nd former \llcmbcrs In sutisl'y the Compi.my':-i
           liability for m'\y. unpaid M~rndiitory Dis~l'ibutions: and

                                   (iii) · to   M1:111o~rs   i111d As">igm;c:;   ;1;5   provjtlcd in Sc<.:tio11 4.2(al.

                      (b)          Jjo Me~11bcr Dclk: t Rcstorati~)ll Obli,gotion. No Member is linb:c 10 the Company
or  S.fi1;t!9n 13 14Cnl'fl.U:ai~d (i.ill mny b~ wltht\eid lo
pro,iide " 1-eu:;11m1ble res~rve fo1· Company linbilit ies (contingent· 01· othc1 wise) w1d future expenses,
includmg a :easonnble reserve for uny t.:hiiim: for in~Y.mcnt:i and llli!ffu.!lion!-; lo Mcn1pcrs in !SJ.mi. The l.,1q1.1id~k):- m:1y 1101 1m1ke
u11y payments M distribuW:ns to Mcmhcrs o~ t\~/\"Jg11cc.S pw·sw.lt\~ \'O S~Qlfon I JAfJUtiJ) 01· {ill) ci1her lhM
tn ct1sh u11lcss ~:I! Members tmd A~signees rccciv i n~ the property approv~ tile tr1111sfrr in kind. The
Llquid' the
l.ltl!., amo\tnl:; i.wld lo Members purnu~:n1 to ihis ~.!)011 ! ;).4 ;,;h:;lll be INnli.::t! I' Tc1·mi1rntion of n
  O<>mcstic Emity (Jn th!! corn1~l~1ic1 n l'..ll''he winding op ol'lht: Cor:1puny.

           I:3.6, RcJ.rstalc.m.~ll·                 If the CGmruny is terminated, it may be r'·111:1tutcd in the    11ii1Jt11t:r
 pro11idf<:d in lbc Code.

                                                               AH.TlCLt XIV
                                                                VALLATJON

   .        J4. l . [i'air Vnlye ol Compmw P1\11Jertv. The f.'ai1· Vnlue of property contriouted to th(;
 Compnny by l1 Member us ptll'l of such Mcmb~r's Initial C1:1pital C:tmtrilnnion iR the amount or such
 Member' !: lt11[laJ Cnpilnl Con1ribu1iont as set fon!1 on H~.P.ili!l.!.'\: 1ni11t1s the amount of m1y c:n~h
 contri buted to the Compony ns part of s;,:ch Member's lnitinl c,1pi10 I Conti ibu1ion. 111 nll other cnst's, lhc
 ft::1ir V nloe of ~111 (tssct as of uny d~1te is it:; foi1· mnrkcl l'lil"c as dc\ermined by the: 13oc1•·d or Managers in
 good fo ith usin~ l 111 y fcnsllll(i!Ction with <1 Trigge1 ing Hvcnt, the foir mnrket v11! t1e or the
\/lcmhcrshfp I nterest~ Rhal l he dclcrmincd by rhc Mtmugcr.s r.msur.tnl 10 'm ind.::pc11Jcnl thi rtl purty
apprahrnl of the HSs1:1:.; ol' the Compimy. ','hL· lfourcl of M~nagcrs shull 110 Jess 1lw11 ar:11ually. cause tht:
mrn~ls ol' the Compwi)' !"be uppraiscd b}' ;111 1ndcpcnllc11! third pnrty.

                                                            ARTICLE XV
                                                        GLNElV\L PllOVlSl ONS

                      (a)       In General. Sub,1ecl to the followi nB exceptions Hnd !imltt1tions, this Agrccmcm
ffUI)'   be  Agrcc:."11~11t. No umend111c111 l'i. Ar1klc "..1 (1·~1t11i11g to
liabili ty Md !t'-dc11111IJ'icatilpprnv.il.
CCM!'ANY AGREEMENT or: CJ,,'i n RION p~;(.'()S 'flill,\1111'1\I, LLC                                               l'AGe 26
tr.ll 14!l1. 'l/SP/3303~ro·o·JI0'.11114

                                                                                                                                   MR.263
                                                                                                                               CALCE01462
          I5.2. NQJlf.st An>' notlct', 1·eporL or 011:c1· co111111t1nicution rc([lti1•ccl m permitted lo be mode H:l
 nny person by· this /\gr1;erncnt shall b~ in wriling tind is 1S oJ' ihc d;11e ol
 dc;lvcry. or (<.') suc1.:c~.sf1.11ly tn1m;mi1ted by lllcsirn ilc 01· 1.: ~cctro11 ic mes~H~(~ I<.> tlic person's li1ci;ilnik·
 phone number or e-mail <1ddress {as 11pplicuble) seL forth in lht Comp,1ny's wcords 11 or tile luw of any olhcl' jurisdiction. Any Proc~cd i ng c1r1~i11g uul ol or 1·elutin~ In thi.::
 Agreement         the Compnny's acrivities or properties mny bi: brought .:~ the sttlte COLlrlS of Dnllas
                    01
 Coi1nt)(,     Ti~:-cas
                    or, if it h th~! !.),'\\\lu!-!ivc jurisdii.:1io11 ol'
 eutli such cowl io nny .such f'l'oceed!ng, wn i v~s uny objci.:1100 h ll'l<•Y 1H>1\' 01· hen.'t11i·e,. ht:vc 10 vc11t1c (i i '
 tl1 co1wcnlc11:.:c or' fon1m. ngrecs lh£t! ni l <:1<1ims i;, rcspl.'.ct ol' t·hc P"r c~indition ;.1:· uny brem.:i1 lhen.."01'. ~\ purly
will 1101 be u~emcd to have wa.ivccl uny right oi· remedy tmdi;;r this l\µr•~cmcnt unless ihlll party l1ns
signed n wr:tl'Cm clocume;1t lo that eftect, and <1ny :such waiver is· u~r1 l i~n~. 1e only with 1·esp1:::ct ln the
specit!c provision one! insrnnc~ for which it Is given.

        I S.5. Enllrc Aurecn1e!~I. ·1his J\greeme111 ~t1pc1·scdcs ~II priOI' ngrccmenrs, wh~thc1· wrincn or
ornl, berwe(rn the 1n1rtics with respect to ils :$llbje<.:\ mHHcr Hl\d t:on:stitL1t~~s a l;Olnplclc b1igntions undc1· lhi~ /\gr1.:e111t..:nl cxccpl lt)< c,'artics. Othc1· than >IS pro\'iC.:cd in Scctiop 5.7 (rdnting lP relirna:c 011 nuthorily ol'
the Bm1rd cl' Munag.ers) nnd Articlt> YI (re l ulm~ lo rights 01· I ndenrni lied l'erson~ ), none ol' : ' 1c
pl'Ovisions o!' this 1\grccmcn1 t'!l'e for the bcnctit of Cir cnforccublc by any creditors or th~ Company or
orht:r persons n~)l tl pnrly to this Agn.:~:11c1u. cxi,;ept such bcnclits m; i11ure to a sw~c~~sm m' pcrn~i'.:cd
assign in Hccnrdi:ncc with .Scc! io.u.J 5.6.

            15.8. ~~~L~.n1Q.i!Jl!~. 11' ml)' provision ur lhig Agn.'tJment is lidd ill valid or u11cnlon:cobl<.: by uny
emu t     or r:o111p<:lc11i jurisdicl(o1i, lhe olhcr provisions                or
                                                                      this f\grccmenl will rcrn11i11 in l\dl lt>t'i.:t.: und
efii.!ct, 1\ny pn:ivisiQn ul' this Agreement held lnvorid or 1,menlorceable on ly in ptlr1 onlcgr~e will 1·~mnin
111 ti.d· !C.m.'c aud effect to tht:! ~>L u:iy party. Nolh ing i11 this Ag:~cmcnt is lo be
          const!'l!Cd ns outhori.zing o~ l'cquiri11g nny ;lction thnt is prohibited by the Code or other npplicablc l11w,
          or as pl'Ohibiting uny nctio11 •!rnt is ri:quircd by !/1t) Code or u~licl' ;1pplk<1blt: !aw.

                   ·   . 15.1O. )*csutjon          9f 1\j,;rec111~1'1. This Agret?mcnl   mti)I'   be <::xect1i!!d in coun 1.erparts, ench   or
          \vhich will be deemed lo be                an
                                          original copy of th ls Agreemet:I, Hild ull oJ' which logeilw coristitlJIC one
        . agreement. Any signnlmc to this Agreement evidenced by n facsimile or othc1· electronic 1n111smissio11 of
          such signnlure ~hH!l be binding on the p.tEE INTEREST      P,\Y.   N~ .   313-429-1103   P. 0 ~2

                                                                                                            CENTURION 1,0GlST!C.S 'lLC

           ....

         .,
,•

         . ...
                                          . ..
            ~
     .     j'

                          MAN'AGER:

                                               .       '
                                                   "

                                              .    .   ~

                                                                                                                                                         /,
                                                                                                                                                         lo

                          COMPANY AcRl!ltM'EN1. 01" ommuoN:Ptcos'.l.'E.nl 11NALLLC
                          t11ft-.t.14~ • 1Vt"lt'l.,,l\"1' 'Jf"l.lf'\,lflU\•""' 4
                                                                                                                                                         I'
                                                                                                                                                         l·
                                                                                                                                                         l

                                                                                                                                                         MR.266
                                                                                                                                                       CALCE0146~
                                                                  COMPANY AGREfi:Ml!.:NT
                                                                         Ofi'
                                                             CENTURION PECOS TILll.MiNAL LLC
                .....
                                       . .                 EXH101T A
                                    M.E_MBEfil.:_CONTIUDUTlONS AND P~RC.J~NTAG ll;J NTll:IU!:STS

                             ...                                Kl'foctivc us ot' 1'hc li:l'fccHvc B}ltc
                 .              .
         M 'E MUER'NAM'E ANI) Al)ORESS
                                                                                                 lnitinl Cnpitnl   lnitinl Percf:nt~gc
                                                                                                  Contrihution          I ntcrcst
         Cc1~ t llrion     L'Ggi;stics' LI .C                                                        $400.00            40.00~1(,
          17950 Pl'esro11 Rond
.. ,.    Suite 1080
        · D<1llt1s Tc.1 P1;co!{'fr.m11;11,\1.·1,1,c
        G211~.ll 'l, 11SP/33<13210•1(11/09' 114

                                                                                                                                           MR.267
                                                                                                                                         CALCE01466
                                                          COMPANY .\.GRF.li:MI?NT
                                                                        1

                                                            OF
                                              CENTt;R!ON PCCOS TERMINAL LLC

                                                           APPEi'; HIX A
                                                                      ......_...
                                                    PRlNCIPUl:S OF ALLf)CATION          __
          A. l    lt111·odu<:tiqu. This Aj)pendix se;s forlh pri1wiplcs undui· which items of income, gain.
 loss.: deductioll nncl crcdil sh:tll be allocated nmong th1:: Memliers. This /\pp1.111dix •ll~o ;)rovides f:.)!' th(:
 dcterrn inntion Hcd mnintennnce of C11;)ilal Accounts , generally it\ m.:cordancc wit h ·l'l'emn1ry Rcuuhulons
 promulgated tllld~r !, R,C. S~lkm 704(b ), lhr pt1qmse~ or detamin1 ng !!llch altm:utior1s. For purpo!!<'!!> o I'
 this Appendix, 2111 Assignee shnl I be '. rc111cd in 1bc same munm:r i1s n lvkmbt::-.

           A.2   e     Dl:linitiOll!'.i. Cnpitnlized tk:rms used in          lhi~ l\r>P1!. 11 di~   htt\'C lhi: mcunings !:lel ri.1rlh below
 or in the Agrcc:1"cn1.
        ;,Adjt1~tcd Cuphnl A'<.:coH;1t Dtli5iil" tn~atw tiny dclic!t bnlmicc 111 ti Member's Cnpitul Acco.int ns
          .
of the end ni«t lllxable yeiir. cil1er giving. ~·lfoct to lhi.: lbilowi11g <1tijus1111c111s:

                       · C1•cdi1 ro the Capiwl /\ccount '~~ar bems lo sut.:h begi1mi11g ndjuslc)d t~1.~ b.isis. Jr the adjus1~d lx1sis ro:· fodcral in..:ome
tnx purpose~ (') r l111 t1~1Scl !ll thi:l 1i~.:gi 1111 l 11g (i I' ~\li!h !t\Xttblc )'CHI' is r.ero. fkpr>·!(Hiable lilelhod selet..:ted by the F:kH11·ci
of \Vbmigers.

       ''Gro:-;s A:s:>yl Vu I tie" means c11l 1•ssct's <1tl]u!lh:d bnsis for l;.:!dernl im:rrrm: tux purr><1~es, r.::-.1:cpl us
follows:

CCMPANY AGREeM!?.NT OF C!::NTUIUON Plt<.'Oe\Tt:H1\ll1~\L              Lt.C
e2114!i7.1/SPl33032i01\l11091114

                                                                                                                                                 MR.268
                                                                                                                                               CALCE01467
                     (i)     "!'he- iniliul Clr11ss A:-1~c:t Vntuc of nn ns:;¢1 contributed bv u Member to the
               Coinp1my is the gross rair Value of such n:,ii;c1.· a:< dc1c1·111incd by 1he l!Olll!~ibll!fn~ Member and
               the.:   Bo~ll'tl   0J'M11nt1gers ulid   u~ llt!t   ftent 1hat un
              nqjustmcnl is required pun!uunt to pnrngraph (H).

. 11' the Gros.!\ i\.ss~t Yalt1c <.11' an uss1~1· lrns b1.:1rn dctcr"t'111cd
                                                                  01· adjusted p1.: 1·sua1:t· to subpnrl'lgt·aph$ (i). (ii)7
 ~ll' t)v)
        or tllis delinilit111, the usset's Gwss ..\~SCI Value shnll Hie1•ei;iler· be: tidjus!ed by the f)cprc1:iuli11n
 tuken into accoun: with 1·cspccr lCI such nssc:l fol' pu~·1~oscs of Gl,mpuring Net Profit un" mean, fi.)r 1~tcl1 l1~oo~Tt;1t'llN;\l. l.1I,{
G11HS7 1/SP/l30J2!0'1!)110!l1114

                                                                                                                                                    MR.269
                                                                                                                                                CALCE01468
                      (i;i)    I!' thr. G1•oss Asset Value of ~111Y Company ussct is ncljustc'd pmsurul! lo
             :ntbp gain m· loss lhim dlspl)siti(m <)J' the nssc.:1 li..;r 1rn11,os~!s
             c;f'c~m1puling N~:t Prnnt nml Net Loss.

                      (ivj . Otiir:• ()I' loss i·csulling lh1111 r:ny disposil ion or Co:~:p111 1 y propc:rly with rcsp(:Cl lo
             wh ich gHin or leis:; 1s recognized for leckMl incrll))I.! tunl lbr pi:rposcs of compl1ling Net Profil er ".'Jct J.oss.

           ··Non1·ecnw·se Oedu~tions'' hns the meaning, !iel thrtb IH Trc•1sury Rcg11latil .. 1 re<1s\1ry Rcgu lulions Scclio1t 1.704-2(1.:).

         "Nonre,comsc l,.1nhll.iJ.x'' hn:; 'the mcnning :;1~ L fortr in Tr~a:nll'y Rcgi.ilations Section : .704-·
2(b)(J ).

        ''.,&1rtncr 1'1011rccoqrs~••P.~" hm; the inern~ing ~t !Orth in Tre,1sury R1;!g~1lutions S;:ction I .704-
7.(b)(4}

            ''Part.ner Nonrecoui·sc Debt Minimum Gain'' hns the mco1i:11g set for!h 111Trcasll~·y Rcgult1lions
Sec1 :on L'704·2(i)(:!) n11d ~hnll he del'crrni;;cd in nccortluncc wilh Treasury Rcgul:ilinns "lcation I.'7CM-
2{i)l3 ).
          ·'f>artne~ Non1:gco11r;;;~ Deductions" hm; 1hc m1:aning set l.brth in frcr1Slll)' Rcguhttions &-c1io11
 J. 704-';:(i )( l) ~llld sl1t11l be det~rminei.::r dcto.:1·n·.i11cd und 1nttint<1incd lh1'ol1ghnt11 th~ i'ull
lc:ln 1>1' the Conmiioy i11 ~iccordance wilh the C•'1pi l1.1l <1<.:cl11mling ru les 01· Tt·c~i:-;111 y Regulations Section
 I.'704-1 (b}(:?.)(iv) Withotl! limiting t he g~nernlity ol the lorcguing. 1l1c fbllowing mies apply:

                       l C[lSh
 anti the Fnir Value of property distributed lu such tvkmb~I', (ii) su~h Mt'mrer·s shrm! of the Company's
 Net Loss, and (iii) the am(1t11it of iln)' lh.ibiltties (lf st;ch Member assum1ed by lh•~ Company O!' thut ure
 S'~cured by any property cont1·ibt11ed by sttch Member to the (\rnlpnny.

                  (c)     Upo11 the trm1slbr :Jy n tvicmber or nl I or pol'l of an in1eres1 in the Company tt 1\cr
 thti.JIH.

                   ('.))    Except t1S ot!1erwisc rnquircd by Tn.1<1smy Regulntio11s Section l."/04·1tb")(2)(iv),.
 E1cl;lcstme111 to C;ipital Ac<::ounts in l'cspect ol' Comp;1ny income, gain, loss. dcdui::tion. nnd l.R.C. Sec lion
 705(n)(2){13) cxpcnditu1·es (or items thereoJ) shnll be: macle with rdc1·<:11cc w lhe fod<~rtd 'ux trcillnwnt of
 such ilems (nnd, in lhe tn!SC of book items. \Vilh rcforc1H:c: lo lht !eden.ii las 11·e.atn1co1 of the
 c:orrcspondit1g ll1:-. items) a: the Con:pa11y level, without rcgtml lo any :-:~nnd~tlliry or c:lective Ill:<
 trcr.1;;ie111 (lf ~uth ilem~ 111 rhe Member kvel.

                      (i)          "l'he prnvisi(.n:; C>l lhi!:i Appendix nnd or the   A~rt1(:1mi.:nt l't'iHLl!1g (()   lhc m;1imc.:nancc
 of Capital      Accounts arc i111.e11clcd to 1::omply with Treasury Regulmion:s Section l.704-1 (b)(2)(iv), ;,md
shall be interpreted mid applied il1 a manner consistf~nt with such TJ'cusury R~gL1ln!ions. 11' the Board of
tvhlnagci·.s detel'mincs thut it is prndent 10 modify the 111a1111e1· 111 which the Cupil911N

                                                                                                                                            MR.271
                                                                                                                                        CALCE01470
  any period ·shnll be illlocmellitic:s» till (lu l igntions (ifuny) of Members to comribu\e udditk1!·1\ll <.:;:ipitul to 1he Crnnp<1n)' were
  Sf.ttisticd, und uny rcm11ining- cush was clistributed to the Memncrs 11nd~l' Section 4.2 us of the li1s1 day r.!'
  sucl1 period, m11111$ (ii) the Member's share .
        A.4.2 IM.\llln.LQ.t.Y...611oct!lion:i. The !hllnwq~ sp~ciilt allocHt ions i;h.i:l lw flpplbl in lhc order in
 whith they nrc listed. Such tmle::l'f11g is Intended to c0111ply with the orderi11g rult:s in Tr<~~1sury
 Hcg11lmions Section ! . 704-2(j) ond sholl be uppH~d consist~mly thel'ewiih.

                     (n)       l'vri11i11mn\.,..Q~lmrg,:b~.                   E>'~O:'. 1h0n1 iil Hcld :rion 10 the a1Mt\ttts, 1f'My, oll<)Catcd p~irsuivt 11; pnrugruph 4.2(n), m;y Me1nbcr wil'l u
  s!HU'e  or    lh:H P~ll'tne r NcmrecOUl'Se Dt:bt t-.-1iuilm11J) Onin (dcwm1inod in ;iccordoncc with Tt'Oll~ Ul'Y
  Regultnionr, S('Cli<\n 1.704-2(i)(5)) OS of the D~gi nnin~ or the 1nxub lc )'Cat' shell! be <1llocu1cd itc111s fll
  Com puny income ~ind g~1in for 1ha1 tnxabk: yenr (huil be inl~rprctt:d conl'i:;ti;:n:!y therewith, ind•1d1ng lluit 110
 <.:lrnrgcbm.:k shull l>c rc:quir~d ro 1ho c~lcnt 1hc rcqufr~~mcnts lor 11ny ~,'\c.:i:: ptioni; prnvitkcJ in °1'('(:<1su1·y
  lh.:t+ulution St::ction I .704-2(i)(4) 1u·e 11wt.

                 (c)       Q<1flliJ:e<11ru:;mll£..Pfljg_L II uny Member wwxpcctediy rc<:civ..:s u;:y ndjusum;nt,
allot:alion, or distribt1tioi1 de~cribed in Treasu1-y R::g1tlalions Scut:0ns I,704· I(b)(2)(ii)(L'.)(4), (5). M (6),
it'~ms of Company income nnd guin slrnll be: sptdd!y allocated to sm:li Men1ber in rm nmoi111l ii11~!
mmmer !iUl'!i<:ient to ~jjminme, to the extent ruquil'cd by !he Treasur;1 Re~ulalions, th<: /\dj\lsted Cupitnl
Account D<~licit· of' sm:h Member !l:.i ttllicldy ns p(lssihle. An nlloc;1tion p•:r!i11ttn1 to the for1;1goi11;,:
sentence slmll be mt1de only ~o the extent thnt such Member wculcl hav~ :m Adjusted C:1pil1tion. 1;· Member             hu~   un   r'\d,iu;-;t~xi C11pi~~1l Ac1;(lu1tl D<:li~! il
 nl lhe 1:.nd or tuty tnxuble yenr, each s11ch M~mbcr s11111l be spc<.:iully ;:illoc,1!..:d item~ of' C'rnnpu11y im:o1m:
 und gain in the.: mnoun~ of such Adjustt::d Capital Account Oclkit a~ qui<.:lJdurtfons ure t11tdbutahlc in
 nccorc.lnnr.:e wl;b Tre~1~ury Regulnli(Jns Sc(,;itr1s.

           A.4.3 Ci.1rnlive Allot:ntions. The allllc::nions ~ct Jbrth in Section A.4.2 hcrcol· (the "Rcg;1lntory
 Allocr.tiotis'!) .we lim~nded to comply with certnin 1-eqL1il'emems ot' the T1·~as1.11·y Rcgulmions. Tile
 Members inter1d that, lo tile extem possible, all Regul~1tory Allocalious slw.I be offset either with ntbe1·
 Regulatory Al!ccations or with special allocations or other items of Company incc.1mt , gain, loss, or
deduction pllrsuum te> this ~cction A.4.3. Tho:-efore, imy other prnvis ions ()f thli: SectiM AA (orhel' ~han
tl1~: .Re~tdulory Alloc~Hions) notwithsmnditig. !he Board (1f lVhrnagers ~h;1ll make :rnch offo~:llin!>, ~pcci~1I
allocnli(H!S' or Co1npnny incorne, gtiin, loss. or dcduclion in whatl'.:Vt:I' lllllllllCI' the Bn:ll'd o'f Mn1111gc1·s
detonninc:-; appropt•intc su thEJI. alhH' such olfse11ing t1llvt..'t'llio1is •m: made. e<1d1 Mcmb~r·s C:ipltl-11
/\cco1ml hul~mi.:e 1s, lei thl' cxicnl p1rnsihlc, cqrn1l t•1 tin.: Cupilctl Acl:ollnl bt'ding to their v11rying inicrcslS anti UtC.:. 8ection 706(ti>. using imy: ct111vcntion~ 1~ermlt1ed b>• inw
  ~ml s~lectcc.J       by lhc Board of Mu1rngcrs.

                      (1,;)   Fo1· pul'pO:!i\.'S of' dc(crmining hni! bo deemed 10 cc in prnponiun lo their rc:o:pectivc l'ca;unlage Interests

                 '(d)    To the ex lent pcrmilled by Trcasur)' Hcgula!icins S~c1 ion I. 7(14 ..2(h)(J ), the l3rn1rilal Accou:il D('ficit for a1\)· Me111bc1-.

              A.S · ' T_.Px Allocqtj.QM
                    (n) . 'In Geneh'tl. E:-wept ns othe:·wise prnvided in !his Section I'd, <:Heh item of
 i11c:orr1e, gttin, loss~ nnd ck(uction of the Compnriy !Or tederal income lnx purposes slmll be allocnted
 among the Members iu the san\e mnnner ns st.ch Items nrc :1l l0l:lltcd !or honk purpu;,e~ under lh~~
 Agreement and 1hi!1' Appendix.

                     (b)    · k~~n~·Tu!!~~.!;l.Qt.Ji~.'~W'id J.lrppc(lx. In «1<.:<.:cn.ltm(:;,: with J R.C. Scc!i,ln 704(c) a11d
 the rclmci:J Trcri.sw·y Rcguluuo11s, inccme, guin. IM::;. nml dcdllction w~th 1·cspcot t11 lHlY p1·or>1;:1'l,)'
 i;011tri!:iui1.xl to lhc c;:ipitnl ol' the C()rnpany shall, solely rui tax pllrf>O!'IC1;i, be ul!m:n:ed Vil'iOn or llii:-: Ap('l1:!11dix
nncl tho /\gn:cr;1~ml.

COMPANY AGREEMENT Of' CrXl'lllt!ON Pll.('(l.'> Tf:1n11~1\l LLC
\;211<16'i'.11SPll303li0101i\l0l t 14

                                                                                                                                             MR.274
                                                                                                                                        CALCE01473
     . In uccm dance with th1:. provision~ (Ir lilt dcllni1im t or ''Triggcri11g 6\1cnl Purdm~~ P1•i~i)" ol' l!w
  Comp1
        Johns. I. Dcfi11ed Terms ......................................................................................................... J
        1.2.  Conslruclion ...................................................................................................       _.. 5      a • •• • •••••

  ARTfCLE JI ORGANIZATIONAL MAlTERS ...........................................................................6
       2.1. Fonnation ............................................... .................................................................. 6
            2.2.       Nanlc ......................................................................................................................... 6
            2.3.       Registered Office and Agent; Principal Office........................................................6
            2.4.      Tenn ..........................................................................................................................7
            2.5.      Pl.lr]>OSCS ... ......................................................... ......... .................... ............................. 7
            2.6.      11 owcrs ........................................................................................ ,................................ 7
            2. 7. Cornpnny Properly ................................................................................................... 7
            2.8.  Consent to Ad1nission of Members ......................................................................... 7
            2.9.  Status of Managers and Mcmbcrs ............................................................................7
            2.10. Cerlificates of Membership lntcrcsts ....................................................................... 7
            2.11. No State Law Partnership ........................................................................................ 8

 ARTICLE Ill CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS ...................................... 8
      3.1.   Initial Capital Conlributions .................................................................................... 8
      3.2.   Additional Capital Contributions .............................................................................8
      3.3. Capila) Accounts ................................................................................................... ,.....8
      3.4.   No Right to Return of or Interest on Capital Account .............................................8
      3. 5.  Member Loans ............................................................................................................ 8

 ARTICLE IV ALLOCATIONS AND DISTRIBUTIONS.............................................................8
      4.1.  Allocation of Profit or Loss ..................................................................................... 8
      4.2.  Distributions of Distributable Cash ......................................................................... 8
      4.3.  Withl1oldi11g ······················••t·•··················································································9
      4.4.  Limitnlion on Distributions......................................................................................9
      4.S. No rught to Partition or Distributions in Kind ...................................................... 10
      4.6. Recovery of Erroneous Distributions .................................................................... 10

ARTICLE V MANAGEMENT; ACTIVITIES OF MANAGERS AND MEMBERS ................ 10
     5.1. Management and Control of Company Business .................................................. 10
     5.2. Resignation, Removal, and Replacement of Managers ......................................... 1O
     5.3.  Actions of the Board of Managers ......................................................................... 12
     5.4. Limitations on Board ofMnnugers' Authority ...................................................... 12
     5.5.  Dclcgntion of Authority; Officers .......................................................................... 13
     5.6.  Reliance ................................................................................................................. 13
     S. 7. Compensation and .Expenses of Members and Managers ..................................... 1J
     5.8. Standards of Manager and Member Conduct ........................................................ 14

ARTICLE VJ LIABILITY AND 1NDEMJ\'JF1CATION ......................................... .................... 14

FIRST AJ\lf.Nl>lm AND RESTATEU COMP/\N\' AGnt;t:r.n:NT1Dli0721J5

                                                                                                                                                                 MR.279
                6.1 .        L..imitntion of Liability .... ,,., .................................................................................... 14
                6.2.         lnden1nificatio11 by Company ................................................................................ J 5
                6.3.         Conduct Not Protcctcd ..................................... ...................................................... 15
                6.4.         lnst1rance ................................................. ,.............................................................. l S
                6.5.        St1rvival ................................................................................................. ..................... 15

   ARTICLE vn BOOKS AND RECORDS; REPORTS ................................................................ 16
        7.1. Mni nlenance of cmd Access to Books and Records ............................................... t 6
        7.2.  Fiscal Year ............................................................................................................. 16
        7.3.  Financial and Operating Reports ............... ............................................................ 16
        7.4. 'fax Rcports ............................................................................................................ 16
        7.5. 'fransmission of Com1nunications ......................................................................... 16
   ARTICLE VIII TAX. MA·rrERS ................................................................................................. 17
        8.1.   'J·ax Classification ............................... ,.................................................................. I7
               8.2.         Company Returns ..................................................................................................... 17
               8.3.        Tax Elections .. ,. .......................................................................................................... 17
               8.4.        Consistent Reporting ......................................................................................... ...... .... 17
               8.5.        Tax Proceedings ........................................................................................................ 17
               8.6.        lnfonnation and Documents to Company .............................................................. I8
               8. 7.       Su.rvival .................................................................................................................. 18
  ARTICLE IX MEETINGS AND VOTING OF MEMBERS ...................................................... 18
       9. I. Mcetings ............................................................................................................ ,....... 18
              9.2.         Voting ......................................................................................................................... 19

  ARTICLE X              TRANSFER OF MEMBERSI UP INTERESTS ..................................................... 19
       10.1 .             Limitation on Transfers ......................................................................................... 19
       10.2.             Permitted Transfer of Membership Interest. .......................................................... 19
       10.3.             Right of First Refusal; Tag-Along Right.c1; Triggering Events ..............................20
       l 0.4.            Conditions lo Permitted Tnmsters of Membership lnterests .................................21
       10.5.             Eflective Date; Distributions ................................................................................. 21
       10.6.             Transferor's Obligntions ........................................................................................22
       10.7.             Assignee's Rights und Obligations ........................................................................22
       I 0.8.            Effect and Consequences of Prohibited Transfer ..................................................22

 ARTICLE XI              ADMISSION OF NEW MEMBERS ....................................................................23
      11. I.             Substituted Me1nbers ...................................... .......................................................23
      J1.2.              Additional Mc1nbers ..............................................................................................23
      11.3.              No Required Capital Contributions .......................................................................23

ARTICLE XJI WITHDRAWAL OR REMOVAL OF MEMBERS ............................................23
     12.J. Wit11draWc1I of"Mcml1era ...............................................................................,, .... ,....23
     12.2. Rc1novnl ofMembers........ ............................................................................              24             4 •••••• • • •

     12.3. St.illus of Fonner Membei· ........................................................................................24

ARTICLE XJJI WfNDING UP AND TERMINATION ................... ........................................... 24

FIRST AAr£NDF.D AND RESTATED Cmll'AN\' AGREEMENT OF CENTURION PECOS 'l'ERMJ:'JAL LLC                                                                                  PAGE
62l l457.aid or
  incurred in connccliun with or us a consequence of any Proceeding, net of any in.surunce or other
  recoveries received by the Indemnified Person with respect to the foregoing.

         "Distributable Cash" means the cash and cash equivalents held by the Company from operations
  rcasonnbly detcm1incd by the Board of Managers to be available for distribution to the Members after
  payment of the Company's debts, expenses, und other obligations, und aficr establishment and
  maintenance of such cash reserves ns the Board of Managers dctennines should be rctnined for the
  reusonablc current und future needs of the Company's business.

          ..E1foclivc Dute'' is defined in the introduction to this Agreement.

           "Entjty" mcnns any gcncrnJ partnership, limited partnership, limited liability partnership, limited
  liability company, corporation, joint venture, trust, business trus~ cooperative, association, foreign trust.
  foreign business organization, or other business entity.

          "Fair Value'' means, wirh respect to an !:ll)Set, its Fair Value delem1ined according to Section

          "Fiscal Year" is defined in Section 7.2.

         "Fonnntion Date" is defined in the recitals to this Agreement.

        ..Indemnified Person" means (a) a Member or Assignee; {b) n Mnnnger, (c) a Liquidator (if any};
 (d) nny Affiliate of the Company. u Member or Assignee, a Manager, or a Liquidator; and (c) any
 governing person, ollicer, employee, ugent, or owner of the Company, u Member or Assignee, u
 Manager, u Liquidator, or any Affiliate of any of the foregoing. A person is an Indemnified Person
 whether or not such person has the status required to be an Indemnified Person at the time ony
 Proceeding is made or maintained as described in Article VI or al the time any amendment to this
 Agreement is proposer.J under Sectfon 15. l. provided such person had the status required to be an
 [ndemnified Person at the time of the relevant actions referenced in the Proceeding.

         "Index Rate" means the rate specified in Section 302.002 oflhc Texas Finance Code.

        "Initial Cupjtul Con1ribution'' means the sum of any cash and the Fnir Value of any pmperty
contributed to the Company by a Member with respect to a Membership Interest in connection with the
original issuance of the Membership lntercst by the Company as set forth on Exhibit A.

        "J.R.C." means the lnternaJ Revenue Code of J986.

        "Liquidator" is defined in Section 1J.2(b).

       "'Majority-in-Interest" means one or more Members owning collectively more than 50% of the
Percentage Intere~1S owned by all Members entitled to vote 011 the pnrticuJnr issue.

       "Manager'' means the person or persons designated ns manager of the Company in the Certificate
of Formation and any person or persons who become a rcpJoccmenl Manager pursuant tu Section 5.3.

FIRST AMENDED AND RESTATED COMPANY AGREEMENT OF C!o:"l lllllON Pl-.:COS Tlo:K,\.111\'AI, LLC          PAGE3
ll211.t57.CISPl3303ZI01Ot1072115

                                                                                                            MR.284
         "Mandatory Distribution'' means nny distribution tlmt a Member is entitled to receive und as to
  which the Member has attained the slnttlS of n creditor under Section l 01.207 of the Code.

        ·~Member" meuns any person identified as n member on Exhibit A, and any other person who
  becomes a mcmher of the Company pursuant to this Agreement, who has not ceased tu be u Member.
  "Members" mcnns nil pt!rsons that arc Members, collectively.

          "Membership Jntercst0 means n Member's or Assignee's economic inlc1·cst in the Company. The
  tcnn includes the Member's or Assignee•s right to receive allocations of profits and losses and
  distributions as described in Article IV, and other rights and obligations under this Agreement or the
  Code of an Assignee who has not been admitted as a Member, but docs not include any right to
  participate in management or any other right reserved under this Agrcemenl or lhe Code exclusively to a
  Member.

         ·•otrcnng Member" is defined in Section 1O.J(cl(i).
        ••Percentage Interest" means, os to nny Member or Assignee, the percentage interest set fm1h on
 Exhibit A.

         "Pcm1ined TranslCr'' means any transfor of a Membership Interest that is described in Section

         "Person" or "person" means any individual or Entity, and the heirs, executors, administrnlors,
 legal representntives, successors, nnd assigns of such "Person," as and where the context so pcm1its or
 requires.

        ''Proceeding" means (o) any threatened, pending, or completed action or other proceeding,
 whether civil, criminnl, administrative, arbitrcitive, or investigative; (b) an nppcaJ of any such
 proceeding; and (c) an inquiry or investigation that could lend to any such proceeding.

        ''Prohibited Transfer"   me~ms   any transfer of n Membership Interest that is not a Pcnnined
 Transfer.

        ''Redemption Notice" is defined in Section I 0.3(c){i}.

        "Redemption Option·• is defined in Section 10.3(c)(i).

        "Stampede" means Stampede Energy, LLC, a Louisiana limited liability company.

        "Stampede Capital Conlribulion Balunce" means, with respect to Stampede, the total Cnpitul
Contribution of Stampede less the cumulative distributions of cash by the Company to Stampede in
return of Stampede's Cupital Contribution pursuant to Section 4.2Cu)(ii). For purposes of calculating the
Stampede Capital Contribution Balance, no deduction shall be made for any tax distributions made to
Stnmpede, whether pursuant to Section 4.2(bl of this Agreement or otherwise.

        "Stampede Preferred Return" means, with respect Lo Stampede an nmount equal to nn 8%
cumulative compounded annual relum on the amount of Stampede's unreturned tolol Capital
Contribulion accrued as of any date of determination. The Stampede Preferred Return will be calculuted
by treating all distributions of the Stampede Preferred Return pursunnt to Section 4.2(a) as first being a

FIRST AMENDED AND RESTATED COMPANY AGREEMENT OF CEN'TURJON PECOS Tf.'. HMINAI. l.LC                PAGE4
8Z1 t457.41SP13l03ZI010tl012115

                                                                                                         MR.285
   payment of any undistributed nccumulntcd aruuml 1'Cturn as of the distribution date and then being a
   repayment of any and nil of Stampede's Capital Contributions as of the distribution dnte.

         "Stampede Preferrcd Return Bnlnnce" ml!uns. wilh respect lo Stampede, the cumulative nccrued
   Stampede Preferred Return less the cumulative distributions of cash by the Company to Stampede in
   payment of the Stampede Preferred Return pursuant to Section 4.2CnlCi). For purposes of calculating the
   Stampede Prcforred Return Balance, no deduction shall be made lbr any tux disuibutions mndc to
   Stampede, whether pursuant lo Section 4.2Cb) of this A!:,rreement or olherwise.

           "Substituted Member" means a person who is ndmittcd as a Member puJ·suant to Section 11.1
   with respect to the transfer of nn existing Membership Interest.
             0
                 Trcasury Regulations" means the Treasury regulations promulgated undcl' the l.R.C.

             "'Triggering Event" means the first to occur of (a) the date of a Prohibited Trnnsfer, incluc.Jing
  nny transfer to (i) a Member's trustee in bankruptcy, (ii) a purchaser at nny creditor's or court sale, {iii) a
  Member's spouse pursuant to a decree of u divorce court, or (iv) the guardian of an incompetent
  Member, (b) the date of denth of an individual Member, (c) the dale of' a Change or Control or
  tenninution of a Member that is no1 an individual; (d) the removal of u Member pursuant to Section
  12.2; or (c) the voluntary election of a Member that is not an individual to liquidate oil or substantially
  all of its assets and/or dissolve.

            "Triggering Event Closing•· is defined in Section 1O.J(c)(ii}.

         "Triggering Event Purchase Price" means, in the case of a Membership Interest to be purchused
 pursuant to Section 10.3(c), the urair market value" (as defined in this paragraph) of the Membership
 Interest as of the date of the Tdggcring Event, dctennincd assuming an onns length snle of nil of the
 Company's assets ton third party (ns n going concern und not as a Hquidation) for fair murket value and
 the application of the proceeds of the sale according to Section 13.4. The Triggering Event Purchase
 Price will be detennined (a) if there is in effect as of the date of the Triggering Event a valid Certi licate
 of Fair Market Value in substantially the form attached as Schedule A executed by all Members, by
 relerencc to the fair market valuc for such Membership Interest as set forth in such Certificate of Fair
 Markel VuJue, and (b) if there is no such Certificate of Pair Market Value effective with respect to the
Triggering EventJ (i) by agreement of the Company and U1c Offering Member or the Offering Member's
successor in interest, as applicable, or (ii) if no such agrccmeat is reached within 30 days aOcr the
issuance of the Redemption Notice, by ru1 Independent appraiser chosen mutually by the Company and
the Offering Member or the Offering Member's successor in interest, as applicable; provided. however,
thul in detennining the fair market vulue of a Member's Membership Inlerest, such appraiser shall take
into account the Stampcde~s Capital Contribution Balance nnd the Stampede Preferred Return Balance
and shall increase or decrease Triggering Event Purchase Price of each Member's Membership Interest
occordingly. Any foir market value agreed by the Members in a Certificate of Fair Murkel Vulue shall be
elTcctive until the earlier of (A) 90 days from the date set forth in any such Certificate of Fnir Market
Vnlu~, or (A) the date that a new Certificate of fair Market Value hns been executed by all of the
Members.

           1.2.      Construction. In this Agreement, unless n clear contrary intention appears:

                     (a)           the singular number includes the plural number and vice versa;

FIRST AMENDED AND RESTATED COMPANY AGREEMENT OF CJ~NTUIUO~ P•:cos Tf:H!\11"11/\I. LLC                   PAGES
6211~5".419P/33032J0101/07211 fi

                                                                                                              MR.286
                  (b)       reference   to   any per!'nn includes such person's successors nm! ussigns but, if
  tipplicuble, only if such successors and nssigns arc not prohibited by this Agreement, and reference to a
   person in o particular capacity excludes such person in any other capacity or individually;

                 (c)        reference to any gender includes the other gender and the neuter;

                 (d)   reference to any agreement or other document mcnns such agreement or other
  document as nmcnclcd or modified and in effect from time to time;

                 (e)     reference to any statute, rcgulotion, or other legal requirement means such legal
   requirement as amended, mm.lilied, codified, replaced, or reenacted. in whole or in pnrt, und in effect
  from time to time, including rules and regulations promulgated thereunder, and reference to any section
  or other provision of any legal requirement menns that provision of such legal requirement from time to
  time in cITccl and constituting the substantive amendment, modification, codiliculion, replacement, or
  reenactment of such section or other provision;

                 (r)  '"hereunder," "hereof:•· ~'hereto~·' and words of similur import refer tu this
  Agreement us u whole nnd not to any particulur Article. Section, or other provision hereof;

                 (g)     "including" (and with its correlotive meaning "include'') means including without
 limiting the genernlily of any description preceding such tcm1;

                 (h)    0
                            or" is used in the inclusive sense of''and/or'';

                (i)    with respect lo the determinution of aoy period of time, "from" means ''from and
 including" nnd "to" mcnns "to but excluding"; und

                (j)  references to ngreemenl.s or other documents re for us well to all addenda, e;'l(hibits,
 schedules, or amendments thereto.

                                               ARTICLE II
                                        ORGANIZATIONAL MATTERS

         2.1.   f'ormation. The Company was formed pursuant to the Certificate of formation effective
 us of the Fonnation Date.

        2.2.    Name. The Company's name is as set forth in the Ce11ificatc of Fonnation. The Donrcl or
 Managers may change the Company name at any time without the approval of any Member by filing a
certificate of amendment to the Certificate of Formation. The Board of Managers shall provide notice of
nny such change lo alJ Members. The Company's business may be conducted under its name and/or nny
other nume or names deemed advisable by lhe Board of Managers. The Board of Managers shall cause
ro be executed and fiJcd of record all assumed or .fictitious name certificates for the Company as are
required by law.

       2.3.    Registered Office nnd Agent; Principal OJTice.

              (n)      The street address of the initial registered office of the Company in Texas and the
name of lhe initial registered agent of the Company are as set forth in t11e Certificate of Formation. The
Board of Managers may change the Company's registered office or registered agenL ut uny time by filing

FIRST AMENDED AND RESTATED COMPANY AGREEMENT OF C•:NTlllU01" rEcos 'l'ERMINAI. l.LC                 PAGE6
1211'4!i7,41SP/33032/0101/0121115

                                                                                                           MR.287
    a Chunge of Registered Agent and/or Registered Office os provided in the Code. The Board of Managers
    shull provide notice of the chunge to nil Members.

                   (b)    ·n1c address of the principal office of the Company in the United States where
   records arc to be kcpl or made available under Section 101.501 of Lhe Code shall be as dctcnnined by
   the Board of Managers. The Board of Managers may change the Compnny's principal ollice in the
   United Stntcs at any time upon notice to the Members. ·n1c Company shall keep at its registered office
   and make available ton Memher on reasonable request the street address of the Company's principal
   office in U1c United Slates.

              2.4.       Tenn. The Company wiJl continue until terminated in accordance with Article XIIT.

          2.5.    Pumoses. The purpose for which the Company is organized is for the development aml
   opcrntion of the Projecl and the transaction of any and nil lawful business for which limited liability
   companies may be organized under the Code.

         2.6. Powers. Subject to nny limitations in lhis Agreement, the Company may exercise the
  power to do any and nil acts reasonnbly related to its purposes.

             2.7.       Company Property.

                 (a)  AJI Company property shall be 0V\11ed in the name or the Company and not in the
  name of any Member. No Member or Assignee wH1 have any interest in such Company property solely
  by reason of the Member's stalUN as a Member.

                (b)    The Board of Managers shnJJ cause all funds of the Company to be deposited or
 invested in an account or uccounts in the nwne or the Company. No funds other than the funds of the
 Company may be deposited therein. TI1e funds in such accounts shall be used exclusively for the
 business of the Company (including distributions to the Members) and muy he \vithdrawn only by
 persons approv~d by the Board of Managers.

        2.8.    Consent to Admission of Members. Each person executing this Agreement consents to
 the admission as members in the Company all of the other persons who are Members as of the date such
 person executes this AgreemenL

        2.9.    Status of Managers and Members. Except as otherwise provided by this Agreement, each
 Manager has the status, rights. and obligations of n monuger in a limited liability company us set forth in
 the Codt:, and each Member has the s1atus, rights, and obligations of u member in a limited liability
 company as set forth in the Code.

         2. I 0. Certificates of Membership Jntercsts. If provided by the Board of Managers, ench
Member's Membership Interest may be represented by n Certificate of Membership Interest. Each such
Certificate of Membership Interest, if any, shall be numbered and registered in the records of the
Company as lhcy are issued, nnd shall be signed by two oOicers of the Company. The holder of any
Certificate of Membership Interest shall promptly notify the Company of any loss or destruction of the
certificale, and the Company shall cause a replacement certificate to be issued to the holder upon receipt
of satisfactory evidence of the loss, destruction, or mutilation or the ccrtificmc and snlisfoction of other
reasonable conditions esUiblished by tht! Bourd of Mnnogers.

FIRST AMENDED AND RESTATED COMPANY AGREEMENT OF CENTURION PECOS TERMl~AL LLC                           PAGE7
11211"457.41SP/3Jo:J2/010~/D72115

                                                                                                             MR.288
          2.11. No Slate Lnw Pa11ncrship. The Members intend that the Company is not a partnership or
  joint venture, and thnt no Manager or Member is a pnrtncr or a joint venturer of any other Manuger or
  Member. for any purposes other than income tax purposes. No provision of this Agreement may be
  construed Lo suggest otherwise.

                                        ARTICLE Ill
                         CAPlTAL CONTIUllUTIONS; CAPlTAL ACCOUNTS

         3.1.     Initial Capital Contributions. Euch Member's Initial Cupit.al Contribution is set forth on
  Exhibit A.

         3.2. Additional Capital Contributions. No Member shull be required to muke Additional
 Capital Contributions. No Member has t.he right or is permitted to make any other Additional Cnpitul
 Contributions unless (a) the Board of Munugers approves such AdditionuJ Capital Contribution after
 notice to all Members of (i) the amount of the Additional Capital Contribution to be made, (ii) the effect
 of the Additional Capital Contribution on each Member's Percentage Interest, and (iii) other material
 information relevant to the proposed Additional Capital ConlribuLion, and (b) nil Members are afforded
 an opportunity to participate in the Additional Capital Contribution according lo their relative
 Percentage Interests.

       3.3. Capital Accounts. The Company shall establish a sepurule Cupitnl Account for each
 Member and Assignee. The Cnpitnl Accounts shall be maintained according to the provisions of
 Appendix A.

         3.4.    No Right to Return of or Interest on Capital Account No Member may demand or
 receive the retum orits Capital Contribution or any portion of its Capital Account, except as provided in
 this Agreement imd the Code. Neither any Manager nor any Member has any personal liability for the
 repayment of any CnpitaJ Contributions of any Member. No interest will accrue or be puid with respect
 to the Capital Contributions or Capitol Account of any Member.

        3.5.   Member Loans. The Company may borrow money from one or more Members ro the
extent the Board of Mnnagers deems appropriate to the conduct of the Company business on tcnns thnt
comply with the requir~ments of Section 5.8(b)(iii) (relating to related pnrty transactions). The amount
of any loun made to the Company by a Member will not constitute a Capital Contribution or otherwise
affect such Member's Capital Account or Membership Interest.

                                               ARTICLE JV
                               ALLOCATIONS AND DISTRIBUTIONS

        4.1.  AIJocntion of Profit or Loss. Cumpuny profits and losses shnB be allocnted among the
Members nnd Assignees in accordance with the provisions of Appendix A. The Members are awnre of
the income tax consequences of the allocations made by Appendix A and agree to be bound by the
provisions of Appendix A in reporting their shares of Company income and loss for income tax
purposes.

       4 .2.    Distributions of Distributable Cash.

                (a)     Except os otherwise provided in Section 4.2(b) (relat.ing to distributions lo pay
truces), Section 4.3 (relating to withholding), Section 4.4 (relating to limitations on distributions), or

FIRST AMENDED AND RESTATED COMPANY AGREEMENT OF CEl\TURION PECOS TERMJNAL LLC                      PAGES
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                                                                                                         MR.289
  Section 13.4 (relating to liquidnling distributions), Distributable Cash shall be distributed to ll1c
  Members as follows:

                         (i)  first, lo Slumpede in payment of the Stampede Preforrcd Return until the
         Stampede Prefcn·ed Return Baluncc has been reduced to zero;

                      (ii)   next, to Stampede in payment of Stampede's Capitnl Contribution until the
         Stumpcde Capital Contribution Balance has been reduced to zero; and

                        (iii)   finally, to the Members according to their Percentage Interests.

  The Board ofMonngers may provide for a record date with respect to distributions.

                   (b)    To the extent Lhe Board of Managers determines that any Member or Assignee
  has an unfunded tax liability as a result of allocations of Company lax items for any tax year. then, to the
 extent the Compnny has fonds JcgaUy available for the payment of distributions to Members, the Bourd
 of Managers .shall make a special tax distribution to all such Members and Assignees pro rntn accnrding
 lo their relative unfunded tax liabilities in the minimum amount necessary lo pay any .such unfonded tax
 liabilities. For this purpose, a Member or Assignee is deemed lo have an unfunded tax liabilily for a tax
 year to the extent (i) the cumulative umount distributed lo the Member or Assignee under Section 4.2{a)
 nnd advanced to the Member or Assignee under this Section 4.2(b} (nnd not previously recovered) rrom
 the inception of the Company thJ'ough the end of the such tax yeur exceeds (ii) the Member's or
 Assignee's tax liability with respect to such Member's or Assit,rnee's cumulative aJlocablc share of
 Company tax items for ull periods from the inception of the Company through the end of such tax year.
 Unless the Board of Managers dctcnnines otherwise, the taxes due for each Member and Assignee shall
 be calculated by assuming that the Member or Assignee is an individuaJ taxed nt the highest tux rate
applicable to tJ1c type of income involved. A.ny such tax distribution shall, to the extent it exceeds the
amount tlte Member or Assignee would otherwise be entitled to receive under Section 4.2(ll), be Lrentcd
as an n Interest or admit nny Member other
   lhnn pursuant to Section 2.8 or Article XI;

                   (h)   cause the Compm1y Lo ~tcquire uny equity or debt securities uf nny Member or any
   Affiliate of a Member, or otherwise make loans to uny Member or any Alliliute of a Member;

                (i)    cause the Company to acquire from any person nny equity or debt s~curities or
  assets of any corporation, limited liability company, partnership, associolion, business. or business
  division, whether by stock purchase. asset purchase. contribution, or other business combinntion
  (excluding invcsuncnts and asset ncquisitions in the ordimtry cour.sc of the Company's business and
  lrummclions contemplated by this Agreement)~

                 (j)    cause the Company to participate in any merger, consolidution, transfer,
  continuance, or conversion of the Company with or into uny other person;

                  (k)   cnuse the Company to participate in nny reorganization in which Membership
  Interests are exchanged for or converted into cash, securities of uny other person, or other property; or

                (I)     sell or otherwise dispose or all or subs1anLially all of the Company property,
  except in connection with winding up the Compnny as pennitted in this Agreement.

           5.6.      Delegation of Authority; Officers.

                (a)    The Board of Mnnngcrs mny cause the Company 10 hire such employees and
 agents us the Board of Managers deems appropriute for the cone.fuel of the Company's business.

                 (b)     The Board of Managers may establish offices nnd uppoint officers of the
 Company, and may delegate to such uflicers any of its nuthority hereunder, us the Board of Managers
 deems appropriate. The oflicers muy be appointed for such terms and may exercise such powers and
 nuthority and perfonn such duties as detennined by the Board of Manager. An officer need not be a
 Member of the Company. Any two or more offices may be held by the same person. An officer may be
 removed, with or without cause, at any time by chc Bourd of Managers. Each officer will hold office
 until his successor is chosen and is qualified in his stead, or until his deuth, resignationt or rcmovul from
 office. Any vacwicy in an oflice because of death, resignation, removal, or otherwise may be filled by a
 person appointed by the Board of Managers. An officer is subject to the snme standards of conduct as
 apply lo a Munnger as described in Section 5.9.

         5.1.   Reliance. Persons dealing with the Company may rely conclusively on lhe authority of
lhe Board of Managers as set forth in tflis Agreement. Every document executed by uny Manager with
respect to nny business or properly of Lhe Company is conclusive evidence in favor of any person
relying on the document that (a) at the time of the execution nnd delivery of the document this
Agreement wmi effective, (b) the document was executed in accordance with this Agreement and is
binding on the Company, and (c) the Manager was nuthori7..ed lo execute and deliver the document on
behnl f of the Company.

        5.8. Compensation and Expenses of Members and Managers. Members and Munngcrs are not
entitled to any salary. fee, or other remuneration (other than distributions with respect to the Member's
Membership Interest) for providing property or services or other consideration to or for the bcnent of the
Company in their capacity us a Member or Manager, except that each Manager is enlittcd lo

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                                                                                                            MR.294
   reimbursement from the Company for rcLLc;onablc out-of-pocket expenses paid or incurred on behalf of
   the Company, including rcusonahle charges for services pl'Ovided by employees of the Manuger nnd
   overhead expenses. The Company shall pay ull oul-ot:.pockct costs incurred in orgnnizing the Company.
   This Section 5.8 docs not limit or enlarge a Mw1ager's or a Member's rights lo liability protection or
   indemnification under Article Vl, and docs not limit the Company's ability to ~nler into transactions
   with Members in their capacities other than os Members in accordance with Seel ion 5.9(iiil.

             5.9.     Standards of Manager and Member Conduct.

                  (a)     In General. 1l1e Board of Managers shall manuge und conduct the Company~s
   business in good faith and in n manner the Managers reasonably believe to be in the Company's best
   interest. A Manager does not violate this Section 5.8(a) unJess the Manager engages in conduct
   described in Section 6.3{o) (relating to improper conduct).

                      (b)         Oucside Activities of Mnnagcr and Members: Noncompetilion Covenants.

                                Each Manager shall devote to the Company's affairs only such time nnd
                                  (i)
            resources as the Manager dcoms necessary for the conduct and winding up of the Company
            business.

                           (ii)    Except as provided herein, the Managers and Members or their Assignees
           may engage in or have an interest in other business ventures of every nature und description,
           independently or with others, including the ownership and operation of businesses similar to or
           in compeCition with, directly or indirectly, the Company, and neither the Company nor any
           Member or Assignee has, solely as n result of such penmn's interest in the Company, any right to
           acquire any rights in or to nny such other business venture or to the income or profits derived
           from any such other business venture. A Manager or Member or Assignee has no duty to
           disclose any such similar or competing business venture to the Company or any Member or
           Assignee, or to offer to the Company or any Member or Assignee any prior opportunity to
           acquire an interest in such other business venture.

                                  Related Pnrtv Transactions. Except us otherwise provided in this
                                 (iii)
          Agreement, the Board of Managers, when accing on behalf of the Company, may purchase
          property from, sell property to, or otherwise deal with any Manager, Member, or Assignee,
          acting on its own behalf. or any Affiliate of uny Munuger, Member, or Assignee, but nny such
          transaction shall be on tcnns that are no Jess favorable to the Company chan if the transaction had
          been entered into with nn independent third party. No provision of this Agreement requires
          disclosure of any lrnnsaction to, and approval of the transaction by, uny disinterested governing
          pt!rsons oflhe Company or the Members as provided in Section 101.255 of the Code.

                                                   ARTICLE VI
                                         LIABILITY AND INDEMNlFlCATION
         6.1. Limitation of Liability. No Member or Manager is liable for any debts, obligations, or
liabilities of the Company. Subject to Section 6.3, an Indemnified Person is oot liable lo the Company or
any other Indemnified Person for any Damages arising from any Proceeding relating to the conduct of
the Company's business or relating to any act or omission by the Indemnified Person, including any act
or omission constituting negligence, within the scopt! of the Jndcmrufied Person's authority in the course

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                                                                                                           MR.295
   of the Company's business, or for uny miscom.Jucl or negligence on the parl of any other person who is
   an employee or agenl of the Company.

           6.2.    lndernnillcalion by Compuny. To l11e f'ullcst extcm permitted by applicable law and
   subject to Seclion 6.3, the Company indemnifies and holds hannless ench Jndemnified Person from and
   against uny Dumnges arising from any Proceeding reluting to the conduct of the Company's business or
   lo any uct or omission by such Indemnified Person, including uny uct or omission constituting
  negligence, within the scope of the lndemnificd Person's nuthority in the course of the Company's
  business or for nny misconduct or negligence on the part of any other person that is an employee or
  agent of the Company. An Indemnified Person's expenses paid or incurred in defending itself against
  any Proceeding shoU be reimbursed as pnid or incurred. The right to indemnification conferred in this
  Article VI is not exclusive of any other right that nny person may have or hercufier acquire under any
  statute, agreement, vote of Members, or otherwi~e.

            6.3.      Conduct Not Protected.

                 (n)     This Article VJ docs not operate to limil liability or lo indenmify n person to the
  extent the person is found liable pursuant to a final judgment of a court of competent jurisdiction for:

                          (i)     an act or omission tlmt involves gros:-; negligence, intcotionnl misconduct,
            or a knowing violation of law;

                                 a transfer or attempted transfer of all or u porlion or a Membership Jntercst
                                (ii)
           in a Prohibited Transfer, a Manager's resignation in violation of Section 5.2(u), or a \1cmber
           ceasing to be a Member in violation of Section 12.1 (n);

                         (iii) u willful or reckless mntcriol brcnch of this Agreement or nny other
           ugreement relating to the Company's business; or

                                (iv)   an act or omission for which indemnification is prohibited by law.

               (b)     No provision of this Agreement requires the Company to pay or incur any amount
 for which indemnificulion is not penniuec.l under this Article VI.

                 (c)   Any payments mHde lo or on bchulf ofa person who is Inter determined not to be
 entitled to such payments shall be repaid by the person to tbe Company. The Company may require, ns n
condition to the payment of any amounts pursuant to Section 6.2, that the Indemnified Person provide to
the Compnny (i) a written affinnntion by the Indemnified Person of the person's good faith belief thnl
the person ha.~ met the standard of conduct necessary for indemnification under this Section; and (ii) a
written undertaking by or on behalf of the fndemnified Person to repay the amount paid or reimbursed if
the person has not met that standard or if indemnification is otherwise prohibited by Jaw.

        6.4.    Insurance. The Company may maintain insurance lo prolt!Ct any person uguinst nny
expense, liability, or loss, whether or not the Company would have the power lo indemnify such person
against such expense, liability, or loss under t.hc Code.

        6.5.    Survival. The indemnities provided for in this Agreement survive the transfer of an
Indemnified Person's Membership Interest, the tcm1ination of the person's status as u Member or other
status giving rise to classitication n.~ an Indemnified Person, and the termination of this Agreement and
the Company.

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                                                                                                                  MR.296
                                               ARTJCLE VU
                                       BOOKS AND RECORDS; REPORTS

            7.1.    Maintenance of and Access tn Books and Records. 111e Compnny shall maintain such
    books and records regurding the Company's business and properties as is rensonablc, including all books
    nnd records required under the Code. Each Member shall have access thereto during ordinary business
    hours to the extenl und under the conditions provided in the Code.

           7.2. Fiscal Year. The Compuny shall adopt the calendar yearns its fiscal year for financial
   and tax accounting purposes (such liscaJ year of the Company being referred to as the uFiscnl Yenr").

           7.3. Financial and Operating Reports. As soon as practicable atler the end of each Fiscal
   YcRr, but in any event not later than 90 days after the end of the Fiscru Year, the Board of Managers
   shall deliver to each Member an annual report containing the following:

                  (a)     o. Company balance sheet ns of the end of such Fiscal Year, and Company
   statements of income, cash flows, uncl changes in Memhcrs• equily for such Fiscal Year, euch in
   reasonable detail und prepared according to United States generally uccepted accounting principles;

                   (b)    u general description of the Company's activities during such Fiscnl Year.
  including a description of the amount and circumstances of nny indemnification paymcnL'i paid or
  requested pursuant to Section 6.2. a description of any material insurance claims or recoveries during the
  fiscal quarter. nnd a description of nny Proceedings involving the Company; nnd

                (c)      a statement of changes in the Member's Capital Account (showing the balance in
  the Member's Capital Account os of the beghming of the Fiscal Year, contributions or distributions
  during the year. allocations of profits and losses during the year, any other adjustments to the Cupital
  Account balances during the year, and the balance in lhe Capital Account ns of the end of the year).

             7.4.       Tax Reports.

                (a)    Not later than the date (including exten.c;ions) for filing the Company's tax return
 with the Internal Revenue Service (Form I065), the Board of Managers shall deliver to each person who
 was n Member or Assignee at any time during the period covered by the return nil infonnation nt!ccssary
 for the preparation of such person's United States federal income lax returns, including n Fonn 1065
 Schedule K-1 (if npplicahle).

                 (b)     Upon the written request of any Member or Assignee, the Board of Managers
 shall deliver lo such person infonnalion necessury for lhe preparation of any tax returns that must be
 lilecl by such person, including information necessary for estimating unc.l paying estimated taxes.

        7.5. Transmission of Communicalions. Each person who holds u Membership Interest on
behalf of, or for the benefit of, anoU1cr person or persons shall be responsible for conveying any report,
notice, or other communication received concerning the Compwiy's affairs to such other person or
persons.

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                                                                                                          MR.297
                                              ARTICLE Vlll
                                             TAX MA·f,'ERS

          8.1. Tux Clussiticalion. The Members intend that the Company be classified as n partnership
  for federal income tnx purposes. The Board of Mnnagcrs shall take nil actions rensonubfy necessary or
  appropriate lo ensure the Company is so cfussiflcd (including the filing of elections or tax rt!lurns). No
  Manager, oflicer, or Member shnll tuke uny action incom.;slent with the clnssificntion of the Company as
  a parUtership for fedl!ral income tax purposes.

          8.2.   Company Returns. The Board of Managers shall cause the Compnny to file such tax
  returns as may be required by law.

         8.3.    Tax Elections.

                 (a)    General. Except as otherwise provided in this Agreement, the Board ol' Managers
 shall cause the Company to timely make or revoke nil elections, and tnke all tux reporting positions,
 necessary or desirable for the Compuny as determined by the Board of Mnnugers. Nu election shnll be
 made lo have the Company exclude such winding up. The Liquidator (if not the Board of Managers) is
 entitled to receive reasonable compensation for its services; mny exercise ull of lhe powers conforred
 upon the Board of Managers under this Agreement to tl1e extent necessary or desirable in the goud faith
 judgment of the Liquidator to perfonn its duties; and ~~th respect to acts taken or omitted while acting
 in such cupacily on behalf of the Company, is entitled to the limitation of liability and indemnification
 rights set forth in Article VI.

                 (d)     The Liquidator shall provide quarterly reports to the Members und Assignees
 during the winding up procedure showing the assets and liabilities of lhe Company, providing
 information aml documents required by the Members and Assignees to comply with their tax reporting
 obligations, nnd such other infonnation as the Liquidutor deems appropriate. Within a reasonable time
 ufler completing the winding up, the Liquidator shall give each Member and Assignee a final statement
 setting forth the assets, liabilities, and reserves of the Compw1y as of the dale of completion of winding
 up.

        13.3.      Continuation Without Winding Up.

                (a)     ff there is u decision to wind up and terminate the Company ns described in
Section 13. )(a), the Company may be continued as provided in Section I 01.552 oflhe Code.

              (b)    If lhere is a termination of tbc continued membership of Lhe last remammg
Member as described in Section 13.l{c}, then prior to completion of the v.inding up process but not later
than 90 days ufier the event of termination, the Board of Managers moy continue the Company by
admitting one or more Members effective as of the occurrence of the event of termination. Any
Assignee whose Percentage Interest would be diminished by reason of the admission of an Additional
Member under the circumstances described in this Section must approve the admission or lhc Additional
Member.

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                                                                                                                 MR.306
              IJ.4.    Liquidation of AsscL.; and Application nnd lJisrribution of Proceeds.

                 (a)      In General. On winding up the Company, tl1e Liquidator shall di:-;posc of the
   Company's properties und apply and distribute the proceeds, or transfer the CompW1y properties, in the
   following order of priority:

                              (i)    lo creditors {including Members who are creditors) in accordance with
             their relative rights and priol'itics to satisfy the liabilities of the Company. including expenses
             associated with the winding up nnd termination of the Company, but excluding uny Company
             linbility for any unpaid Mandatory Distributions;

                              {ii)   to Members, Assignees, and former Members to satisfy the Company's
             liability for any unpaid Mandatory Distributions; und

                                 (iH}   to Members and Assignees as provided in Section 4.2(a).

                (b)      No Member Deficit Restoration Obligation. No Member is liuble to the Company
  or MY other person for the rcpaymenr of any deficit in the Member's Capital Account, except as
  provided in Section l 01.206 of the Code.

                 (c)    Reserves. Tn the discretion of the Liquidator, a pro rata portion of the
 distributions tbat would otherwise be made pursuant to Section 13.4CalCiil and (iii) may be withheld to
 provide a reasonable reserve for Company liabilities (contingent or otherwise) nnd future expenses,
 including a reasonable reserve for any claims for indemnification under Article VI and for uny future
 expenses ussocintcd with nny tax audit or other Proceeding lhnt is pending or may arise.

                      (d)        Payments and Qistributions to Members in Kind. The Liquidator may not make
 nny payments or distributions lo Members or Assignees pursuant to Section I 3.4(a)(ii} or (iii) other than
 in cash unless all Members and Assignees receiving the property approve the transfor in kind. The
 Liquidator shall detennine the Fair Market Vulue of uny property transferred l<> Members or Assignees
 in kind according to the valuation proceuures set forth in Article XIV.

                 (e)   Character of Liquidating Distribution~. Except as otherwise required by the
 J.R.C., amounts paid to Members pursuant lo this Section 13.4 shall be treated as made in exchange for
 the interest of the Member in Compnny property pursuant to J.R.C. Section 736(b)(l), including lhe
 interest of such Member in Company goodwiU.

      13.5. Certificate of Tenninution. The Liquidntor shall tile a Certificate of Tcnnination of a
Domestic ~ntity on the completion of the winding up of the Company.

       I3.6. Reinstatement.              Jf the Company is tcnninntens Section 1. 704-1 (b)(2)(ii)(c) (relating to obligations to pay partner promissory notes
           nntl other obligations to mnke contributions lo the Company), or (b) the penultimate sentences of
           Treasury Regulations Sections 1.704-2(g)( I) (relaring lo partnership minimum gain) and 1. 704-
           2(i)(5) (relating lo partner nonrecourse debt minimum gain); und

                  (ii)    Debit to such Capital Account the items described in Treasury Regulations
           Sections l. 704-l(b)(2)(ii)(d)( 4), 1. 704-J (b)(2)(ii)(d)(5), and 1. 704-1 (b)(2)(ii}(d)(6).

 The foregoing definition is intended to comply with Treasury Regulations Section l.704·l(b)(2){ii)(d)
 and shall be interpreted consistently thel'cwith.

           ucapital Accow1t" has the meaning set forth in Section A.3.

        "Depreciation'' means. for each taxable year, an amount equal to the depreciution, amo11ization,
 or other cost recovery deduction allowable with respect to an asset for such tnxable year, except that if'
the Gross Asset Value of an asset di ffors from its adjusted basis for federal income tax purposes ul the
beginning or such taxable yeur, Depreciation is un umount which bears the snmc ratio to such beginning
Gross Asset Value as the federal income tax depreciation, umortizulion, or other cost recovery deduction
for such taxable year bears to such beginning adjusted tax basis. If lhe adjusted basis for t'Cderal income
tax purposes of an asset at the beginning or such taxable year is zero, Depreciation shnll be determined
with reference to such beginning Gross Asset Value using uny reasonable method selected by the Board
of Managers.

       "Gross Asset Value" means an asset's adjusted busis for federal income lax PllllX>Ses, except as
follows:

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                                                                                                            MR.313
                 (i)    The initiul Gross Asset Value of an asset conlributeuch Member's Capital Contributions and the Fair Value of property contributed (ff permitted
hereunder) to the Company by such Member, (ii) such Member's share of the Company's Net Profit,

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                                                                                                                 MR.315
   and (iii) the amount of any Company liabilities assumed by .such Member or that arc secured by property
   distributed to such Member.

                 (b)      The Capital Account of each Member shall be debited by (i) the nn1otml of cash
   and the Fair Value of pl'Opcrty distributed to such Member. (ii) such Member's share of the Compnny's
   Net Loss, and (iii) the amount of any liabilities of such Member assumed by the Company or that arc
   secured by nny property contributed by such Member to the Company.

                  (c)    Upon the transfer by a Member of all or part of an interest in the Company ofter
  the Effective Dale, the Capital Account of the transferor that is attributable to the transferred interest
  carries over to the transferee and the Capital Accounts of the Members shall be aqjustcd to the extent
  provided in Treasury Regulations Section l.704-l(b)(2)(iv)(m).

                (d)      Jn dctennining the amount of nny liability for purposes of Sections A.3(a) and
  A.3(b), I.R.C. Section 752(c) and any other applicable provisions of the I.R.C. and the Treasury
  Regulations shall be taken into account.

                 (e)      Except as otherwise required by Trcnsury Rcgulntions Section l.704-1(b)(2)(iv),
  adjustment to Cnpitnl Accounts in respect of Company income, guin, loss, deduction, und T.R.C. Section
  705(a)(2)(B) expenditures (or items thereof) slmll be made wilh reference to the Jeid. ¶¶ 36 – 42, 60, 69 – 72. 4

           2.         Centurion Logistics claims that Calce and the other Defendants carried out a

scheme that resulted in Centurion Pecos and Centurion Logistics losing their interest in the

2
    A true and correct copy of the Agreement is attached hereto as Exhibit A-1.
3
  In this Motion, Calce only seeks a declaration that he is entitled to advancement/reimbursement from
Centurion Logistics for his past and future defense costs and a judgment that Centurion Logistics
breached the Agreement. Calce will move for a judgment for his actual defense costs at a later date.
4
  Centurion Logistics has sought leave to file its First Amended Petition. As of the date of this filing,
leave has not been granted. Centurion Logistics’ First Amended Petition includes the following causes of
action against Calce: (1) breach of fiduciary duty; (2) unjust enrichment; (3) aiding and abetting
fraud/fraudulent inducement; (4) violation of the Texas Theft Liability Act; (5) tortious interference with
contract; (6) fraudulent inducement; and (7) promissory estoppel. See Plaintiff’s Motion for Leave to File
Amended Petition.

JOHN CALCE’S AMENDED MOTION FOR PARTIAL SUMMARY JUDGMENT REGARDING
COUNTERCLAIM AGAINST CENTURION LOGISTICS LLC                                                       PAGE 2
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                                                                                                              MR.323
Reeves County Property 5, thereby allegedly depriving such entities of the opportunity to

construct a railway terminal for the shipping of crude oil from such property. See generally Pl.’s

Orig. Pet. Among other things, Plaintiff alleges that Calce breached the fiduciary duties that he

owed Centurion Logistics as a manager of the company. See id. ¶¶ 36 – 42. 6

           3.         On September 20, 2016, Calce filed his Motion to Transfer Venue and Brief in

Support Thereof and, Subject Thereto, Original Answer (the “Original Answer”). Since the

filing of his Original Answer, Calce has incurred, and continues to incur, significant expenses in

defending against the claims that have been brought against him in the Lawsuit.

Calce’s Contractual Right to Immediate Reimbursement of Defense Costs

           4.         Calce is a manager of Centurion Logistics. See Pl.’s Orig. Pet. ¶ 12. Section 1.1

of the Company Agreement of Centurion Logistics (the “Agreement”) defines an “Indemnified

Person” as follows:

           “Indemnified Person” means (a) a Member or Assignee; (b) a Manager; (c) a
           Liquidator (if any); (d) any Affiliate of the Company, a Member or Assignee, a
           Manager, or a Liquidator; and (e) any governing person, officer, employee, agent,
           or owner of the Company, a Member or Assignee, a Manager, a Liquidator, or
           any Affiliate of any of the foregoing. A person is an Indemnified Person whether
           or not such person has the status required to be an Indemnified Person at the time
           any Proceeding is made or maintained as described in Article VI or at the time
           any amendment to this Agreement is proposed under Section 15.1.

See Ex. A-1 § 1.1 (emphasis added). Calce, as a manager of the company, is therefore an

“Indemnified Person” under the Agreement. See id.

           5.         Section 6.2 of the Agreement provides as follows:

5
 The term “Reeves County Property,” when used herein, should be understood to have the same meaning
as the term is used and defined in Plaintiff’s Original Petition.
6
  Centurion Logistics makes the same allegations in the First Amended Petition that it has sought leave to
file. See Plaintiff’s Motion for Leave to File Amended Petition, Ex. A, ¶¶ 52 – 58.

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           To the fullest extent permitted by applicable law, and subject to Section 6.3,
           [Centurion Logistics] indemnifies and holds harmless each Indemnified Person
           from and against any Damages arising from any Proceeding relating to the
           conduct of [Centurion Logistics’] business or to any act or omission by such
           Indemnified Person within the scope of the Indemnified Person’s authority in the
           course of [Centurion Logistics’] business or for any misconduct or negligence on
           the part of any other person that is an employee or agent of [Centurion Logistics].
           An Indemnified Person’s expenses paid or incurred in defending itself against
           any Proceeding shall be reimbursed as paid or incurred. The right to
           indemnification conferred in this Article VI is not exclusive of any other right that
           any person may have or hereafter acquire under any statute, agreement, vote of
           Members, or otherwise.

See Ex. A-1 § 6.2 (emphasis added). Accordingly, pursuant to Section 6.2, Calce—as an

Indemnified Person—is entitled to immediate reimbursement of “expenses paid or incurred in

defending [himself] against any Proceeding.” See id.

           6.         Section 1.1 of the Agreement defines “Proceeding” as follows: “(a) any

threatened, pending, or completed action or other proceeding, whether civil, criminal,

administrative, arbitrative, or investigative; (b) an appeal of any such proceeding, and (c) any

inquiry or investigation that could lead to any such proceeding.” See Ex. A-1 § 1.1. This

Lawsuit clearly constitutes a “Proceeding” under the Agreement, which Plaintiff does not

dispute. See infra.

           7.         Section 6.3(c) of the Agreement provides the following remedy for Centurion

Logistics if it is ultimately determined—pursuant to a final judgment of a court of competent

jurisdiction—that Calce is not entitled to advancement/reimbursement under Section 6.2:

           Any payments made to or on behalf of a person who is later determined not to be
           entitled to such payments shall be repaid by the person to the Company. The
           Company may require as a condition to the payment of any amounts pursuant to
           Section 6.2, that the Indemnified Person provide to the Company (i) a written
           affirmation by the Indemnified Person of the person’s good faith belief that the
           person has met the standard of conduct necessary for indemnification under this
           Section 6.3; and (ii) a written undertaking by or on behalf of the Indemnified

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           Person to repay the amount paid or reimbursed if the person has not met that
           standard or if indemnification is otherwise prohibited by law.

See Ex. A-1 § 6.3(c) (emphasis added).

Centurion Logistics’ Refusal to Reimburse Calce’s Defense Costs

           8.         On August 22, 2017, Calce—through his counsel—requested that Centurion

Logistics, pursuant to Section 6.2 of the Agreement, (1) reimburse Calce the full amount of

expenses that he had been invoiced as of July 31, 2017, plus an additional $50,000 to be applied

to future expenses as they are incurred; and (2) agree to reimburse Calce the additional expenses,

in excess of such $50,000 advancement, that he pays or incurs in his defense of the Lawsuit as

such expenses are paid or incurred. See the August 22, 2017, letter, a true and correct copy of

which is attached hereto as Exhibit B (referred to hereinafter as the “Reimbursement Request”). 7

           9.         The Reimbursement Request provides that, “[p]ursuant to Section 6.3 of the

Agreement, Mr. Calce hereby affirms that it is his good faith belief that he has met the standard

of conduct necessary for indemnification under Section 6.3.”                See Ex. B at 2.         The

Reimbursement Request also provides that “Mr. Calce further agrees to repay any amount that is

paid or reimbursed by Centurion Logistics, pursuant to Section 6.2, if it is determined by a court

of competent jurisdiction that Mr. Calce did not meet the aforementioned standard or if

indemnification is otherwise determined to be prohibited by law.” See id.

           10.        Centurion Logistics denied Calce’s request for reimbursement.       See letter of

September 5, 2017, a true and correct copy of which is attached hereto as Exhibit C (referred to

hereinafter as the “Reimbursement Denial”). Despite denying the request, Centurion Logistics

conceded that Calce is an “Indemnified Person” and that this litigation is a “Proceeding” as those

7
 The Agreement was attached as Exhibit A to the Reimbursement Request. The Agreement has been
omitted as an attachment to the Reimbursement Request since it is attached as Exhibit A-1 to this Motion.

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terms are defined in the Agreement. See Ex. C at 2. To date, Centurion Logistics has not

reimbursed Calce any amount for the expenses he has paid and incurred in defending himself

against the claims brought against him in the Lawsuit. See the Declaration of John Calce, a true

and correct copy of which is attached hereto as Exhibit A, ¶ 4.

                                   ARGUMENT AND AUTHORITIES

           This Motion only addresses Calce’s right to advancement/reimbursement of defense

costs—not his right to indemnification. These rights are often improperly conflated, but they are

distinct concepts with completely different standards. Calce does not contend that he is entitled

to indemnification—as a matter of law—from Centurion Logistics at this point in the litigation.

However, his right to advancement/reimbursement of defense costs is clear and appropriate for

determination at the summary judgment stage. In order to adequately demonstrate Calce’s

entitlement to the relief requested herein, it is important to first contrast the difference between

the right to advancement/reimbursement and the right to indemnification. These concepts are

extensively analyzed in In re Aguilar, 344 S.W.3d 41 (Tex. App.—El Paso 2011, orig.

proceeding) (referred to herein as “Aguilar”).

A.         The right to advancement/reimbursement of expenses and the right to
           indemnification are separate and distinct legal concepts.

           Aguilar is strikingly similar to the present case. Aguilar and another individual formed

Perspectiva Group, Inc. (“Perspectiva”). See Aguilar, 344 S.W.3d at 44. Aguilar was an officer

and director of Perspectiva. See id. Perspectiva filed suit against Aguilar and certain Perspectiva

employees alleging that Aguilar had breached his fiduciary duties to the company and engaged in

a conspiracy. See id. Perspectiva later filed a second suit against Aguilar and others, which was

eventually consolidated with the first suit into one cause, accusing Aguilar and his daughter of

forming a company that competed with Perspectiva (similar to the allegations in the current

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case). See id. During the pendency of the consolidated lawsuit, Aguilar’s attorney—pursuant to

Perspectiva’s bylaws—sent Perspectiva’s attorney a letter requesting that Perspectiva advance

Aguilar’s defense costs, including attorneys’ fees (which is exactly what Calce has requested

here).             See           id.   Perspectiva—like   Centurion    Logistics—denied     Aguilar’s

advancement/reimbursement request. See id. at 45. The trial court denied Aguilar’s motion

requesting advancement/reimbursement of defense costs.                See id.   The appellate court

conditionally granted Aguilar’s petition for a writ of mandamus and provided that the writ would

issue if the trial court refused to (1) vacate its order denying Aguilar’s motion regarding

advancement; and (2) enter an order granting the motion. See id. at 56.

           In analyzing the issue, the Aguilar appellate court first stated that Article 2.02-1 of the

Texas Business Corporation Act expressly allowed Texas corporations to advance litigation

expenses to its directors. See id. at 45. The Aguilar court further noted that the applicable

section of Perspectiva’s bylaws was nearly identical to the statutory language regarding

advancement/reimbursement of expenses. See id. at 45 – 46. Article 2.02-1 of the Texas

Business Corporation Act is the predecessor to Section 8.104 of the TBOC. See TEX. BUS.

ORGS. CODE § 8.104. 8 Similarly, here, Section 6.2 is consistent with the statutory language set

forth in Section 8.104 of the TBOC. See Ex. A-1 § 6.2; see also TEX. BUS. ORGS. CODE § 8.104.

           The Aguilar court next turned to the lack of Texas case law addressing the right to

advancement/reimbursement of defense costs: “There are no Texas cases concerning

advancement under the Business Corporation Act or the Business Organizations Code. But the

courts of Delaware have addressed advancement on numerous occasions.” Aguilar, 344 S.W.3d

at 46.       It is common for Texas courts to look to Delaware law for guidance regarding

8
 The prior and current statutes are essentially the same in all material respects. Compare TEX. BUS.
CORP. ACT ART. 2.02-1 with TEX. BUS. ORGS. CODE § 8.104.

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unsettled/undeveloped areas of corporate law. 9 The Delaware Supreme Court has explained that

“‘[a]dvancement is an especially important corollary to indemnification’ because it provides

corporate officials with immediate interim relief from the burden of paying for a defense.” See

Aguilar, 344 S.W.3d at 46 (quoting Homestore, Inc. v. Tafeen, 888 A.2d 204, 211 (Del. Supr.

2005)).       “Although the right to indemnification and advancement are correlative, they are

separate and distinct legal actions.” Id. (quoting Homestore, 888 A.2d at 212). Perhaps most

importantly, “[t]he right to advancement is not dependent on the right to indemnification.” Id.

(citing Homestore, 888 A.2d at 212) (emphasis added). This concept is vitally important to the

determination of this Motion, because it demonstrates that Calce’s alleged conduct is completely

irrelevant to his right to immediate advancement/reimbursement of his defense costs.

B.         Centurion Logistics cannot rely on its own allegations to deny Calce’s right to
           advancement/reimbursement of defense costs.

           The Reimbursement Denial states that Centurion Logistics denied Calce’s request for

reimbursement/advancement, at least in part, on the basis of Centurion Logistics’ allegations in

the Lawsuit—specifically that Calce (1) was not acting “within the scope of [his] authority in

course of the Company’s business”; and (2) was engaging in “intentional misconduct” and a

“knowing violation of law.” See Ex. C. These are mere allegations for which Centurion

Logistics has the burden of proof. Centurion Logistics does not get to assume the role of accuser

9
  “Delaware has been described as ‘the Mother Court of corporate law.’” Aguilar, 344 S.W.3d at 47
(citing Kamen v. Kemper Fin. Servs., Inc., 908 F.2d 1338, 1343 (7th Cir. 1990), rev’d on other grounds,
500 U.S. 90 (1991)). “Courts throughout the country look to Delaware for guidance on matters of
corporate law.” Id. (citing Neurobehaviorial Assocs., P.A. v. Cypress Creek Hosp., Inc., 995 S.W.2d 326,
332 n. 12 (Tex. App.—Houston [1st Dist.] 1999, no pet.) (turning to Delaware corporate law for guidance
regarding “winding-up” because there was no Texas cases addressing the issue)). “The law of
advancement, in particular, is ‘a Delaware specialty.’” Id. (citing Int’l Airport Ctrs., LLC v. Citrin, 455
F.3d 749, 750 (7th Cir. 2006)). “To the limited extent that there is law [regarding advancement] outside
Delaware, it is the same as the law in Delaware.” Id. (quoting Stephen A. Radin, “Sinners Who Find
Religion”: Advancement of Litigation Expenses to Corporate Officials Accused of Wrongdoing, 25 Rev.
Litig. 251, 271 (2006)).

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and fact-finder.           More importantly, these allegations are irrelevant to the determination of

whether Calce is entitled to advancement/reimbursement of his defense costs.

           In Aguilar, Perspectiva similarly denied Aguilar’s request for advancement on the basis

that Aguilar purportedly had unclean hands due to the alleged breaches of his fiduciary duties.

See Aguilar, 344 S.W.3d at 46.               The Aguilar court stated that “[u]nder Delaware law,

advancement is allowed even when the official seeking advancement is being sued by the

corporation that must advance the litigation expenses” as “Delaware case law is replete with

insider trading cases in which executives’ expenses are advanced despite allegations of

defrauding the corporation or its stockholders of millions of dollars.” Id. at 47 (citing James

River Mgmt. Co., Inc. v. Kehoe, 674 F. Supp. 2d 745, 750 (E.D. Va. 2009)). The Aguilar court

further provided that “[a]dvancement claims are frequently granted when, as in this case, the

corporation is suing an official for breach of fiduciary duty.” Id. That is the exact situation

here—i.e., Calce is being sued for breach of fiduciary duty. See Pl.’s Orig. Pet. ¶¶ 36 – 42. “The

corporation [Centurion Logistics] cannot defend against the advancement claim on the ground

that it now believes the fiduciary [Calce] to have been unfaithful because it is in those very cases

that the right to advancement attaches most strongly.” Id. (citing Kehoe, 674 F. Supp. 2d at

750) (internal quotations omitted) (emphasis added). The Delaware Court of Chancery perhaps

put it best stating:

           It is not uncommon for corporate directors, officers, and employees to be sued for
           breach of the fiduciary duty of loyalty [exactly what Calce is being sued for here],
           and to have to defend claims that they took official action for the primary purpose
           of diverting corporate resources to their own pocketbooks . . . . Therefore, it is
           highly problematic to make the advancement right of such officials dependent on
           the motivation ascribed to their conduct by the suing parties. To do so would be
           to largely vitiate the protections afforded by [statutory] and contractual
           advancement rights.

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Reddy v. Elec. Data Sys. Corp., No. CIV.A.19467, 2002 Del. Ch. LEXIS 69, at *15 – 16 (Del.

Ch. June 18, 2002); see also Aguilar, 344 S.W.3d at 48 (expressly rejecting proposition that “the

entitlement to advancement hinges on proof that the director did not violate his fiduciary

duties.”).

           Calce’s alleged conduct is completely irrelevant for purposes of this Motion and the

determination of whether Calce is entitled to advancement/reimbursement of his defense costs.

See Aguilar, 344 S.W.3d at 48 (citing Reddy, 2002 Del. Ch. LEXIS 69, at *28 – 29) (providing

that any other result “would turn every advancement case into a trial on the merits of the

underlying claims of official misconduct.”)). Rather, the determinative question is whether the

terms of the Agreement afford Calce the right to advancement/reimbursement of his defense

costs. The answer is unquestionably yes.

C.         Calce’s contractual right to advancement/reimbursement is unambiguous and
           mandatory.

           1.         The terms of the Agreement are unambiguous and its interpretation is a
                      question of law for the Court.

           The interpretation of an unambiguous contract is a question of law for the court. See

Moayedi v. Interstate 35/Chisam Rd., L.P., 438 S.W.3d 1, 7 (Tex. 2014) (citing MCI Telecomms.

Corp. v. Tex. Utils. Elec. Co., 995 S.W.2d 647, 650 (Tex. 1999)). Likewise, “[t]he question of

whether a contract is ambiguous is one of law for the court.” Peterson v. Farmers Tex. Cnty.

Mut. Ins. Co., No. 05-15-00678-CV, 2016 Tex. App. LEXIS 6586, at *8 (Tex. App.—Dallas

June 22, 2016, no pet.) (mem. op.) (citing Coker v. Coker, 650 S.W.2d 391, 394 (Tex. 1983)). A

contract is not ambiguous if, like the Agreement here, “the contract’s language can be given a

certain or definite meaning.” Id. (citing El Paso Field Servs., L.P. v. MasTec N. Am., Inc., 389

S.W.3d 802, 806 (Tex. 2012)). The mere fact that the “parties advance different interpretations

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of a contract does not necessarily mean that the contract is ambiguous.” PopCap Games, Inc. v.

MumboJumbo, LLC, 350 S.W.3d 699, 707 (Tex. App.—Dallas 2011, pet. denied).

           “In construing a written contract, the primary concern of the court is to ascertain the true

intentions of the parties as expressed in the instrument.” Moayedi, 438 S.W.3d at 7 (emphasis

added). “Absent a finding of ambiguity, a court must interpret the meaning and intent of a

contract from the four corners of the document without the aid of extrinsic evidence.” Peterson,

2016 Tex. App. LEXIS 6586, at *9; see also Sacks v. Haden, 266 S.W.3d 447, 450-51 (Tex.

2008) (quoting Nat’l Union Fire Ins. Co. of Pittsburgh, Penn. v. CBI Indus. Inc., 907 S.W.2d

517, 520 (Tex. 1995)) (providing that “[o]nly where a contract is ambiguous may a court

consider the parties’ interpretation and ‘admit extraneous evidence to determine the true meaning

of the instrument’”). Moreover, “[u]nless the agreement shows the parties used a term in a

technical or different sense, the terms are given their plain, ordinary, and generally accepted

meaning.” Moayedi, 438 S.W.3d at 7 (citing Heritage Res., Inc. v. NationsBank, 939 S.W.2d

118, 121 (Tex. 1996)). The relevant terms of the Agreement are unambiguous and entitle Calce

to indemnification.

           2.         Section 6.2 of the Agreement clearly requires Centurion Logistics to
                      immediately reimburse Calce the expenses he pays or incurs in defending
                      himself in the Lawsuit.

           It is undisputed that Calce—as a manager of Centurion Logistics—is an “Indemnified

Person” under the Agreement. See Pl.’s Orig. Pet. ¶ 12; see also Ex. A-1 § 1.1; Ex. C at 2. It is

further undisputed that the Lawsuit constitutes a “Proceeding” as defined in Section 1.1 of the

Agreement. See Ex. A-1 § 1.1; see also Ex. C at 2. Section 6.2 of the Agreement provides that

“[a]n Indemnified Person’s [e.g., Calce] expenses paid or incurred in defending [himself] against

any Proceeding [e.g., this Lawsuit] shall be reimbursed as paid or incurred.” See Ex. A-1 § 6.2

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(emphasis added). There are no qualifications and/or conditions to Calce’s express right to

advancement/reimbursement of defense costs. 10

           The Aguilar court—after noting that the term “shall” is generally construed to be

mandatory—held that Perspectiva had a mandatory duty, under the applicable section of its

bylaws (which is strikingly similar to the language of Section 6.2), to advance Aguilar’s defense

costs. See Aguilar, 344 S.W.3d at 51. 11 Similarly, Centurion Logistics is required, pursuant to

Section 6.2 of the Agreement, to reimburse Calce the expenses he pays or incurs in defending

himself in the Lawsuit—as such expenses are paid or incurred.

           3.         Calce’s reimbursable expenses include his attorneys’ fees.

           The Aguilar court expressly rejected Perspectiva’s argument that the undefined term

“reasonable expenses” does not include attorneys’ fees. See Aguilar, 344 S.W.3d at 51 – 52. In

support of its holding, the Aguilar court stated that “Perspectiva’s interpretation renders [the

relevant section of Perspectiva’s bylaws] insignificant and practically useless.” Id. at 51. The

Aguilar court further provided that “[t]he purpose of advancement is to relieve corporate officials

from the burden of paying the significant on-going expenses involved in litigation” and that

“[t]he burden of litigation comes from attorney’s fees, not copying costs.” Id. at 51 – 52

(internal quotations and citations omitted). This reasoning is equally applicable here. Moreover,

10
   Section 6.3(c) of the Agreement does provide that “[t]he Company [Centurion Logistics] may require,
as a condition to the payment of any amounts pursuant to Section 6.2, that the Indemnified Person provide
to the Company (i) a written affirmation by the Indemnified Person of the person’s good faith belief that
the person has met the standard of conduct necessary for indemnification under this Section 6.3; and (ii) a
written undertaking by or on behalf of the Indemnified Person to repay the amount paid or reimbursed if
the person has not met that standard or if indemnification is otherwise prohibited by law.” See Ex. A-1 §
6.3. Calce has already agreed in writing to repay any amount that he is reimbursed by Centurion
Logistics if it is ultimately determined that he was not entitled to such payments. See Ex. B at 2.
11
  The pertinent section of Perspectiva’s bylaws provided as follows: “[r]easonable expenses incurred by a
person who was, is, or threatened to be made a named defendant or respondent in a Proceeding shall be
paid or reimbursed by the Corporation . . . .” See Aguilar, 344 S.W.3d at 44.

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Section 8.001 of the TBOC defines the term “expenses” to include “reasonable attorney’s fees.”

See TEX. BUS. ORGS. CODE § 8.001(3)(B).                    It is therefore clear that Calce’s right to

advancement/reimbursement of “expenses” includes the attorneys’ fees he pays or incurs in his

defense of this Lawsuit.

D.         Summary Judgment is the appropriate—and only meaningful—mechanism for
           Calce to exercise his right to advancement/reimbursement of defense costs.

           The Aguilar court made clear that a summary judgment motion is an appropriate

procedural vehicle for seeking advancement/reimbursement of defense costs. See Aguilar, 344

S.W.3d at 52 – 53. More importantly, the Aguilar court stated that “[b]y its very nature,

advancement of expenses can occur only during the course of the trial court proceedings.” Id. at

55 (citing Morgan v. Grace, No. Civ.A. 20430, 2003 Del. Ch. LEXIS 113, at *4 (Del Ch. Oct.

29, 2003) (providing that “[t]he value of the right to advancement is that it is granted or denied

while the underlying action is pending.”)). “It is indemnification of expenses that occurs at the

conclusion of the case.” Id. Therefore, Calce’s right to advancement/reimbursement of defense

costs is ripe.             The only appropriate time for such determination is now.                Calce’s

advancement/reimbursement claim will be effectively moot at the conclusion of the case. See id.

                                                 CONCLUSION

           For these reasons, Calce requests that the Court grant his Motion for Partial Summary

Judgment against Centurion Logistics and enter the following judgment:

           a)         A declaration that Centurion Logistics is required to reimburse Calce the
                      expenses, including but not limited to attorneys’ fees, that he has paid or incurred
                      to date in defending himself against the claims brought against him in the
                      Lawsuit;

           b)         A declaration that Centurion Logistics is required to reimburse Calce the
                      expenses, including but not limited to attorneys’ fees, that he pays or incurs in the
                      future in defending himself against the claims brought against him in the Lawsuit
                      within ten (10) days of Calce submitting such expenses to Centurion Logistics;

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                                                                                                              MR.334
           c)         Judgment that Centurion Logistics breached the Agreement by failing to
                      reimburse Calce the amount of expenses, including but not limited to attorneys’
                      fees, that he has paid or incurred to date in defending himself against the claims
                      brought against him in the Lawsuit; 12 and

           d)         Such other and further relief to which Calce may be justly entitled.

                                                    Respectfully submitted,

                                                    /s/ David N. Kitner
                                                    DAVID N. KITNER
                                                    State Bar No. 11541500
                                                    david.kitner@strasburger.com
                                                    CHASE J. POTTER
                                                    State Bar No. 24088245
                                                    chase.potter@strasburger.com
                                                    STRASBURGER & PRICE, LLP
                                                    901 Main Street, Suite 6000
                                                    Dallas, TX 75202-3794
                                                    (214) 651-4300
                                                    (214) 651-4330 Fax

                                                    ATTORNEYS FOR JOHN CALCE,
                                                    CENTURION MIDSTREAM GROUP, LLC,
                                                    CENTURION TERMINALS, LLC, AND
                                                    STAMPEDE TX ENERGY, LLC

12
   Calce’s First Amended Counterclaim against Centurion Logistics—like his Original Counterclaim—
includes claims for declaratory relief and breach of contract. See Calce’s First Am. Counterclaim. For
the reasons set forth herein, Calce is entitled to summary judgment on his breach of contract claim, in
addition to his claim for declaratory relief. To succeed on a breach of contract claim, a plaintiff must
show: “(1) a valid contract; (2) performance or tendered performance by the plaintiff; (3) breach of the
contract by the defendant; and (4) damages sustained by the plaintiff as a result of the breach.” Marquis
Acquisitions, Inc. v. Steadfast Ins. Co., 409 S.W.3d 808, 813 – 814 (Tex. App.—Dallas 2013, no pet.).
The arguments set forth above and summary judgment evidence conclusively establish all such elements
as a matter of law: (1) the Agreement is a valid contract; (2) Calce submitted his written undertaking
(without even being requested to do so by Centurion Logistics); (3) Centurion Logistics breached Section
6.2 of the Agreement by denying Calce’s request for advancement/reimbursement of defense costs; and
(4) Calce has suffered and continues to suffer the harm of significant, unreimbursed defense costs.

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                                 CERTIFICATE OF SERVICE

        The undersigned counsel certifies that on the 22nd day of November, 2017, a true and
correct copy of the foregoing was forwarded to all known counsel in compliance with the Texas
Rules of Civil Procedure.

                                          /s/ Chase J. Potter
                                          Chase J. Potter

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EXHIBIT A

            MR.337
                                       CAUSE NO. DC-16-07706

CENTURION LOGISTICS LLC,                              §      IN THE DISTRICT COURT OF
individually and derivatively on behalf of            §
CENTURION PECOS TERMINAL LLC,                         §
a Texas Limited Liability Company,                    §
                                                      §
          Plaintiffs,                                 §
                                                      §
v.                                                    §
                                                      §
JAMES BALLENGEE, BALLENGEE                            §
INTERESTS, LLC, JOHN CALCE,                           §      DALLAS COUNTY, TEXAS
STAMPEDE TX ENERGY, LLC,                              §
CENTURION MIDSTREAM GROUP,                            §
LLC, CENTURION TERMINALS, LLC                         §
                                                      §
          Defendants,                                 §
                                                      §
and CENTURION PECOS TERMINAL                          §
LLC, a Texas Limited Liability Company                §
                                                      §
          Nominal Defendant.                          §      44th JUDICIAL DISTRICT

                                  DECLARATION OF JOHN CALCE

          1.         My name is John Calce. I have personal knowledge of every statement made

herein, and they are all true and correct.

          2.         I am a manager of Centurion Logistics LLC (“Centurion Logistics”). I have been

a manager of Centurion Logistics since the date the company was formed.

          3.         Attached hereto as Exhibit A-1 is a true and correct copy of the Company

Agreement of Centurion Logistics.

          4.         To date, Centurion Logistics has not reimbursed me any amount for the expenses

that I have paid or incurred in defending myself against the claims that have been brought against

me in the above-entitled lawsuit.

DECLARATION OF JOHN CALCE                                                                   PAGE 1
9389432.1/SP/38371/0105/100517

                                                                                                      MR.338
Dallas

         MR.339
EXHIBIT A-1

              MR.340
                       COMPANY AGREEMENT

                                   OF

                        Centurion Logistics LLC

                    a Texas Limited Liability Company

                       Effective September 16, 20 B

THE MEMBEnSlllP INTERESTS REPRESENTED BY THIS AGREEMENT HAVE
NOT BEEN REGISTERED lJNDF,R ANY SECURITU:s LAWS AND MAY NOT BE
SOLD,   PLEDGED   OR    OTHRIHVISE  TRANSEi'muu;:o  ABSENT   SlJCH
IU:GISTRATION OR AN EXEMPTION THEREFROM.         THE TRANSFER OF
MF.MBF:RSHIP INTERESTS IS FURTHER RESTRICTED BY ARTICLI( X OF THIS
AGREF:MENT.

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                                                                                 MR.341
                                                     TABLE OF CONTENTS

                                                                                                                                              Page

1\llTICljl·~ 1 DEFl'N l'flONS .................................................................,......................................... t
     1.1.             J)etined Tcrn1s ......................................................................................................... I
      1.1.            LJsage ....................................................................................................................... 4

ARTICLE JI ORGANlZATIONAL MATTERS ...................................................................... 5
  2.1.     Forn1ation .. .............................................................................................................. 5
  2.2.     Na1ne ....................................................................................................................... 5
  2.3.     Registered Office and Agent; Principal Office ....................................................... 5
  2.4.     ·1·crn1 ....................................................... ... ,............................................................. 5
  2.5.      Purposes ............................................................................................... .................... 5
  2.6.     Po\vcrs ..................................................................................................................... 5
  2. 7.    Co1npany Property ................................................................................................... 5
  2.8.     lnitial IV1cn1bers ....................................................................................................... 6
  2.9      Options to Acquire Additional Units ....................................................................... 6
  2.10     Consent of lvf anagers ............................................................................................... 6
  2.1 l.   Status of Managers and Members ....... .................................................................... 6
  2.12.     Unit C:crtificatcs ...................................................................................................... 6
  2.13.    No State Law Partnership .............................. .......................................................... 6

ARTICLE III CAPITAL CONTRIBUTIONS; CAt•tTAL ACCOUNTS .............................. 6
  3.1 .    Initial Capital Contributions .................................................................................... 6
  3.2.     Additional Capital Contributions ............................................................................ 6
     3.3.             Capital Accounts ........... .............. ................................................................... ..... .... 7
     3.4.             No Right to Return of or Interest on Capital Account ............................................ 7
     3.5.             Ivlen1bcr Loans ........................................... .............................................................. 7
     3.6.             I\1etnber Notes ......................................................................................................... 7

ARTICLE IV ALJ,OCATIONS AND DISTRIBUTIONS ....................................................... 8
  4. 1.   A!location of Profit or Loss ..................................................................................... 8
  4.2.    Distributions of Distributable Cash ......................................................................... 8
  4.3.    \Vithholding ............................................................................................................. 8
  4.4.    Limitation on Distributions ..................................................................................... 8
  4.5.    No Right to Partition or Distribtttions in Kind ........................................................ 9

ARTICLE V 1'i·l1\NAG 1~1\lf EN,.r .................................................................................................... 9
  5. I.   Management and Control of Company Business ................................... ................. 9
  5.2.    Delegation of Authority ........................................................................................ . l 0
  5.3.    Limitations on Manager Authority ........................................................................ l 0
  5.4.    Reliance ................................................................................................................. 10
  5.5.    Compens,\tion and Expenses of Members and Managers ..................................... I0
  5.6.    Standards of Manager and Member Conduct ........................................................ I0
CO\IP.\'\\ Allowing
paragraphs of this Section:

                 (i)      the transfer is approved by all of the Managers:

              (ii)     if the Member is a corporation, the transfer is to a member of the
        Member's affiliated group (as defined in l.R.C. Section I S04(a)) ~

                {iii) if the Member is a trustee of one or more employee benefit plans. the
       transfer is to a co-trustee or a successor trustee to such plans; or

               (iv)    if the Member is an individual, the transfer is to the Member's estate,
       testamentary trust. or legal representative as a result of the Member's death or
       adjudication of incapacity in managing its person or affairs, or the transfer is to a member
       of the Member's family, directly or in trust.

       (b)    Upon a Permitted Transfer by a Member of all of its Membership Interest. the
Member ceases to be a Member as of the effective date of the transfer determined accqrding to
Section 10.4.

       (c)     For purposes of Section 10.2(a)(iv), a Member's family means the iV[ember"s
spouse (excluding a former spouse), children, grandchildren, parents. and grnndparents. A
person's legally adopted child is treated as his child.

CmlP,\ :\ \' AGREDlt:'.'11' Of C.::'in RIO:-; LOGISTICS LLC                                   E::XlllUll' A
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                                                                                                                 MR.362
         l0.3. Conditions to Permitted Transfers of Membership Interests. Without limiting the
Managers ' authority to withhold approval for the transfer of a Membership Interest. a transfer
shall not be a Permitted Transfer unless the Managers determine that all of the following
condit.ions are satisfied:

        (a)     The transfer complies with all applicable laws, including any applicable secmities
laws.

       (b)     The transfer will not cause the Company to be treated as other than a partt1ershlp
for United States federal income tax purposes.

       (c)   The transfor will not cause the Company to be subject to regulation under the
Investment Company Act of 1940, as amended.

        (d)    The transfer will not cause any assets of the Company to be deemed "plan assets"
undel' the employee Retirement Income Security Act of 1974.

       (e)     The transfer will not result in a termination of the Company ander I.R.C , Section
708, unless the Managers determine that such termination will not have an adverse impact on the
Members.

        (t)    The transfer will not cause the application of the tax-exempt use property rules of
l.R.C. Sections l68(g)(l )(B) and l68(h) to the Company ot its Members. unless the Managers
determine that such rules will not have an adverse impact on the Membe1·s.

       (g)    The transferor and transferee have delivered to the Company any documents that
the Managers request to confirm that the transfer satisfies the requirements of this Agreement, to
give effect to the transfer, and to confirm the transferee's agreement to be bound by this
Agreement as an Assignee.

      (h)      It requested by the Managers, the Company has received a transfer fee in an
amount determined by the Managers to be sufficient to reimburse the Company for the estimated
expenses likely to be incurred by the Company in connection with such transfer.

        10.4.   Effective Date; Distributions.

        (a)      A Permitted Transfer of a Membership Interest is effective as of the first day of
the calendar month following the calendar month during ' vhich the Managers receive notice of
such transfer (in such form and manner as the Managers tnay require) unless the Managers
determine that the transfer should be effective as of an earlier or later date (for example, on any
date the transfer is etlective as a matter of state law. or where the notice of transte1· specifies that
the transfer is to be effective on a future date).

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                                                                                                                 MR.363
        (b)     Distributions with respect to a transferred Membership Interest that are made
before the effective date of the transfer shall be paid to the transferor, and distributions made
after such date shaH be paid to the Assignee.

        (c)     Effective as of the effective date of a transfer of a Membership Interest. the
lvlanagers shall amend Exhibit A to reflect the reduction in the transferor's Percentage Interest
and to reflect the Assignee·s Percentage Interest.

        (d)    Neither the Company nor the Managers have any liability for making allocations
and distributions to the Members determined in accordance with this Section l 0.4, whether ol'
not the Company or the Managers have knowledge of any transfer of any Membership Interest.

       10.5. Transfcror·s Obligations. The transferor of a Membership Interest who ceases to
be a Member continues to be obligated with respect to its Membership Interest or its status as a
former Member as provided In the Code and applicable law.

         10.6.    Assignee·s Rights and Obligations.

        Unless an Assignee becomes a Member pursuant to Article Xl, such Assignee shall not
be entitled to any of the rights granted to a Member, other tha11 the rights to receive allocations of
profits and losses and distributions as if such Assignee were a Member, to transfer the
Assignee's Membership Interest (subject to the conditions of this Article X), and to receive
reports and information as specified in Aiticle VII. An Assignee of a Membership Interest shall
succeed to the Capital Contribution of the transferor to the extent of the Membership Interest
transferred. An Assignee is bound by this Agreement ii:respcctive of whether the Assignee has
signed or otherwise adopted this Agreement. An Assignee's Membership Interest may be
redeemed at the option of the Managers as provided in Sectio1112.J..

         10.7. Effect and Consequences of Prohibited Transfer.

       (a)     Except as otherwise required by law. the Company and the Managers shall treat a
Prohibited Transfer as void and shall recognize the transferor as continuing to be the owner of
the Membership Interest purported to be transferred. If the Company ·is required by law to
recognize a Prohibited Transfer. the transferee shall be treated as an Assignee with respect to the
Membership 1nterest transferred and may not be treated as a Member with respect to the
Membership Interest transforred unless admitted as a Me1nber iu accordance with Article XI.

         (b)      The Company may remove the transferor and Assignee with respect to a
Prohibited Transfer as provided in Article XII.

         (c)     The transferor and transferee with respect to a Prohibited Transfer shall be jointly
and severally liable to the Company for. and shall indemnify and hold the Company harmless
against, any expense. liability, or loss incurred by the Company (including reasonable legal fees
and expenses) as a result of such 1ransfer. their removal and liquidation of their Membership
lntei-ests (if applicable). and the efforts to enforce the indemnity granted in this Section lO. 7(c}.

CmlPA ~ \' AGltEl:: '.\n; ~T o.· CE'."TrJUO'\ LOGISTICS   LLC                                 EXlllBl'I' A
                                                                                       1150848\·2 2/12120 \4
                                                                                                               MR.364
       I 0.8.     Agreements of Spouse; Sole Management Community Property.

       (a)    Execution of Spousal .loinder and Consent. The spouse of each Member shall
execute and deltver to the Comp1my a Spo~usal Joinder and Consent in the form of Exhibit B.

       ( b)       Agreements of Spouse. The spouse of each Member agrees that:

                  (i)    this Agreement is entirely fair, just and equitable and in his or her best
      interest;

               (ii)   the covenants made in this Agreement are binding on such spouse
      individually and that such spouse is bound by this Agreement. including insofar as any
      interest such spouse may have now or hereafter in any Membership Interest by reason of
      the community property laws of the State of Texas or any other state, or otherwise;

               (iii)   whenever. pui'stmnt to the terms of this Agreement, such Member does, or
      is required to, in any manner transfer, pledge, or encumber his or her Membership
      Interest, or any interest in such Membership Interest, to the Company 01· any other person,
      such transfer, pledge, or encumbrance shall include the community property interest. if
      any, of such spouse in such Membership Interest so transferred, pledged, or encmnbercd:
      and
              (iv)    in the event of the death of such spouse, any interest such spouse may
      have now or hereafter in any Membership Interest which constitutes community property
      should pass to such Member and, accordingly, such spouse shall will and bequeath such
      spouse's entire community property interest, if any, in such Membership Interest to such
      Member.
       (c)     Sole Management Community Property. Each Member who is a natural person
and his or her spouse agree that such Member's Membership Interest, whether presently mvned
or hereafter acquired. is, if such Membership Interest is community property. community
property subject to the sole management. control, and disposition of such Member.

                                       ARTICLE XI
                                ADMISSION OF NEW MEMBERS

       11.1. Substituted Members. An Assignee of a Membership Interest shall be admitted as
a Substituted Member with respect to such Membership Intel'est on the date on which all of the
following conditions are satisfied:

       (a)        The Managers have approved in \\>Titing the admission of the Substituted Member.

       {b)        The Assignee has delivered to the Company any agreements and other docutnents
that the Managers request to confinn such Assignee as a Member in the Company and such
Assignee·s agreement to be bound by this Agreement as a Member.

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                                                                                                                 MR.365
       \C)      lf requested by the Managers. the Company has received an admission kc in an
amount determined by the Managers to be sufficient to reimburse the Company for the estimated
expenses likely to be incmrc