Court Opinion

ID: 4281161
Source: CourtListenerOpinion
Date Created: 2018-06-05 09:49:35.594106+00
Date Added: 2024-06-11T14:07:31.851075
License: Public Domain

ACCEPTED
                                                                                             05-18-00647-CV
05-18-00647-CV                                                                     FIFTH COURT OF APPEALS
                                                                                            DALLAS, TEXAS
                                                                                            6/4/2018 2:36 PM
                                              Part 3 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 2:36:42 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
income, gain, loss. or d~duction rcq ui red to be stated separately pHrsuant to f. R. C. Section
703(a)( I) shall be included in taxable incorne or loss). with the follmving m.ljllstments:

                    (i)       Any income or the Company that is exempt from federal incom0 tax and
         11ol otherwise taken illtO accuu111 in l'.urnputing Ntt Profit or Nd Loss :-;hall be added to
         such taxable income or loss.

                (ii)   Any expenditures of the Company described in l.R.C. Section
         705(a)(2)(B) or treated as I.R.C. Section 705(a)(2)(8) expenditures pursuant to Treasury
         Regulations Section 1.704-l(b)(2)(iv)(i), and not othenvise taken inlo account in
         computing Net Profit or Net I.oss. shall be s11btracted from such taxable income or loss.

                (iii)   If the Gross Asset Value of any Company asset is adjusted pursuant to
         subparagraph (ii). or (iii) or the Section A.2 definition of Gross Asset Value. the amount
         of such adjustment shall be taken into account as gain or loss from disposition of the asset
          for purposes     or computing Net Profit and Net I,oss.
                  (iv)   Gain or loss resulting from any disposition or Company property with
         rc;;;pect to which gain or loss Ls recognized for federal income tax pmposcs J:;hall b~
         computed by reference to the Gross Asset Value of the property disposed of (unreduced
         h1 any liabilities attributable thereto), notwithstanding that the adjusted tax basis of such
         property differs from its Gross Asset Value.

                 (v}     ln lieu of the depreciation, amortization. and other cost recovery
          deductions taken into account in computing such taxable income or loss, thcr~ shall be
          taken into account Depreciation compukd in acconfoncc with the definition of
          Depreciation in Section A.2.

                  (vi)     To the extent an adjustment to the adjusted iax basis or any Company
          asset pursuant to LR.C. Section 734(b) is required pursuant to Treasury Regulations
          Section l.704-1 (b)(1)(iv)(m)( ./) to be taken into acconnt in determining Capital Accounts
          as a reslllt of a distribution <>ther than in liquidation of a Member's Membership interest.
          the amount of such adjustment shall be treated as an item of gain (if the adjustment
          increases the basis of the asset) or loss (if the adjustment decreases the basis of1he asset)
          frum the disposition of the asset and shall he taken into account for purposes or
          computing r-..;et Profit or Net Loss.

        "'Nonrecourse Deductions'' has the mea11ing set forth in Tr~usury Regulations Section
I. 704-?(b)( l) and shall be determined according to the provisions of lre(lsttry Regulations
Section 1. 704-2( c ).

          '"Nonrecourse Liabilitv·· has the meaning set forlh in Treasury Regulations Section I .704-
2(b)(3).

C0'.\11' ..\:\Y AGIH:E:m :\ T OF Cl·:\ n 'RI(>:'• UHi ISTI( ·s LLC
                                                               P.\GI: A·3

                                                                                                          MR.380
          '"Partner i'id.

        Mr. Calce is an Indemnified Person under the Agreement. See Ex. A § 1.1. Moreover,
the Lawsuit constitutes a Proceeding under the Agreement. See id. Centurion Logistics is
therefore required to reimburse Mr. Calce the expenses he pays or incurs in defending himself in
the Lawsuit, including attorneys’ fees, as such expenses are paid or incurred.

        As of July 31, 2017, Mr. Calce had been billed a total of $114,440.99 in expenses related
to his defense of the Lawsuit. Mr. Calce hereby demands that, on or before August 28, 2017,
Centurion Logistics (1) reimburse him the full amount of expenses that he has been invoiced
($114,440.99) plus an additional $50,000 that will be applied to future expenses as they are
incurred; and (2) agree to reimburse Mr. Calce the additional expenses, in excess of the

9253092.2/SP/38371/0105/082217

                                                                                                    MR.388
additional $50,000 referenced above, that he pays or incurs in his defense of the Lawsuit as such
expenses are paid or incurred.

        Pursuant 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. 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.

         If you would like to discuss this matter further, please do not hesitate to contact me.

                                                       Sincerely,

                                                       Chase J. Potter

9253092.2/SP/38371/0105/082217

                                                                                                        MR.389
EXHIBIT C

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         id.

        Mr. Calce is an Indemnified Person under the Agreement. See Ex. A § 1.1. Moreover,
the Lawsuit constitutes a Proceeding under the Agreement. See id. Centurion Logistics is
therefore required to reimburse Mr. Calce the expenses he pays or incurs in defending himself in
the Lawsuit, including attorneys’ fees, as such expenses are paid or incurred.

        As of July 31, 2017, Mr. Calce had been billed a total of $114,440.99 in expenses related
to his defense of the Lawsuit. Mr. Calce hereby demands that, on or before August 28, 2017,
Centurion Logistics (1) reimburse him the full amount of expenses that he has been invoiced
($114,440.99) plus an additional $50,000 that will be applied to future expenses as they are
incurred; and (2) agree to reimburse Mr. Calce the additional expenses, in excess of the

9253092.2/SP/38371/0105/082217

                                                                                                    MR.400
additional $50,000 referenced above, that he pays or incurs in his defense of the Lawsuit as such
expenses are paid or incurred.

        Pursuant 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. 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.

         If you would like to discuss this matter further, please do not hesitate to contact me.

                                                       Sincerely,

                                                       Chase J. Potter

9253092.2/SP/38371/0105/082217

                                                                                                        MR.401
EXHIBIT 1-B

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                                                 V7UHYRU('.: ••.•;;_+'If~ Comm. Expires 07·08-2020
        "'i~Of. ""\V,,. . .
        '''11111''    Notary ID 130731546

Amended Affidavit of Antonio Albanese
                                                                 7

                                                                     MR.466

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EFINITIONS ........................................................................................................ I
       l. l .             De lined Tcnns .......................... ............................................................................... l
       1.2.               C::;ngc ........................................................................... ...................................... ...... ~

ARrtCLE II ORGANIZATIO~AL MATTERS ...................................................................... S
  2.1.     l-'orn1atio11 ................................................................................................................ 5
  2.2.     Nnnie .......................................................... ............................................................. 5
  2.J ,    Rcgistc:n:d Olfo:e and !\gent: Principal Oniel' ....................... ............... ................. 5
  2.-L     Tenn ..................... ................................................................................................... 5
  2.5.     Purposes .......... .... ..................................................................................................... 5
  2.6.     PO\\'C:rs ............................................................. ....... ....... ...... .................................... 5
  2. 7.    Co111pany Property ............................... ... ................ ................................................. 5
  2.8.     Initial Me111bcrs ................................................................... .................................... 6
  2.9      Optil>nS LO Acquire /\dditionnl Un it s ...................... ......................................... ........ 6
  2.10     Consent o l' Manngcrs ................................................ ............................................... 6
  2. l I.  Status of Managcr5 and :vkmbcrs .............................................. .................. ........... (l
  2. 12.   l Jnit Ccrt ilicatcs ........................... ........................................................................... 6
  2. 1J.   No Stale l.m' Partnership ..................................... ....... ................................ ............ 6

A RTI CLE Ill CAl>ITAL CO'.'ITR llHITIONS; CAPITAL ACCOUNTS .............................. 6
   Johns. I .    Initial Capital Contributions ............. .... ........................................................... ........ 6
   3.2.      t\ddi1ional Capital Cnmrihutinns ........................... ................................................. 6
   .1...l .  C't11Jl ltt l /\tc.:cr l .01.1r1s ... ... .. . .... . .......... . .... . .............. ................................. ... .. . ... . ... .. ..... . . ...... 7
   J.6.      Mc111bcr Notes ........ ........................................................................ ..................... .... 7

ARTIC'L f: IV ALLOCATIOi\S AND OISTl~IB llTIOl\S ....................................................... 8
  -LI .      A llol'at inn of Pro lit or 1.oss ................. ......... ........ ................................................... 8
  -L2.       Distributions ol' Di stributable Cash ................... -. ........ ........................................... 8
  ~.J.       \Vithholding .................................................................... ......................................... 8
  -l.4.      1.imitatio11 on Distrihutinns .................. .,.... , ............................ ........................ 8
  4.5.       No Righ t to l>arti tion or Di stributi on<> in Kind ......... ....... ............... ., ................. 9

A1rr1c·1, c;: v l\·lA N;\(; EJ\il EN'I' ................................................................................................... 1)
   5.1 .        Management and Cont rol of'( ompany nusirn:s:) .................................................... 9
   5.2.         Dekgation ul' t\u t horit~ ......................................................................................... I 0
   5.J.         l.i111 itations on l\ lanager t\u thoril) ................................... .................................. ... 10
   5.-t.        Reliance ....... ................................................................................................... ..... .. I 0
   5.5.         Co111rc 11sa lin11 and E:xpcn<>CS nr ~vlcmhc rs and t\lanrigcrs ..................................... I 0
   5.(1 ,       ~t irndard s ol' Manager n11d Member ( '011dt11..:1. ........ .... .... .. .... ......... .. .... .. .... .... ... ..... Io

Co \I I'\"' i\ c.1a. .: \ H~ '> I OF      c ~. "I l I{ 10 '> Lo <: · ~ 11( " L L C
                                                                                  I'   \(,I.   i

                                                                                                                                                                                MR.477
     5. 7.            Resignal il>n. Rcmo\'a l. and Rcplaccmc111 of Manngcr ...............,... ........... ......... ... l I

ARTICLE VI LIABILITY AND 1 1\ DE~l~IFI C ATIO N ....................................................... 13
  6. 1.   I.imi tation of J. inbi li l) .................................. .. ... .................................................... I J
  6.2 .   l11dcmn ific nlio11 b) Com pany ................................................,............................... 1J
  6.J .   Conduct Nill Protected .... ..................................... ..................... ............................ 13
     6 .4.            1nsurance .................... ..... ........ .. .............. ........................................................ ...... 1-l
     6.5 .            Sun·ival ................................... .......... ......... .......... ................................... ........ ...... 1-l

ARTICLE VII BOOKS AN D RF.CORDS;                                            REPOl~TS ..........................................................              1-t
     7. l.            M aintennnce of and i\ Ct.:CSS to Books and Rccords ............... ................................ 14
     7.2.             Fiscal Yea r. ........................... ....... .. .......... .............................................................. 14
     7.3 .            Financial a1H.l Opl'rali ng Rqmrls ......... ........................................................... ..... .. 14
     7.4.             Tax Reports ........................................................................................................... 15
     7.5.             ·1·ransm ission of Co111munica1 ions ........................................................ ............... .. 15

t\lfl'l(' LE Vlll T AX ;\-lA-rT ERS ............................................................................................. 15
    8.1 .      Tax Clnssi lication .... ............... ... ..................................................... ....................... 15
    8.2.       Co1npany Returns ................. ......... ........... ... ............................... ........................... 15
    8.3.       Ta:-: Elections ........................... ...... ...... .... ....................................... ............ .... ....... 15
    8.4.       Cnn sistc11t Rcporling ....................... .. ... ..... ......................................................... ... 16
    8.5.        rax Proccc                    VOTl~ G             OF \'lEMBE RS ................................................. 17
     9. 1.            lvh:cti ngs ...................................................... ................. ,........................................ 17
     9 .~.            Voling ................................................................................. ................................ ... 17

ARTICLE X TRANSFER OF MEMBF.RSlllP INTERESTS ............................................... 17
  I0. 1.   Li mitation o n l'ransfi:rs ...... .............. ....... ................. ...................................... .... ... 17
  I0.2.    Pcnnitlcd I nlnsl'cr or ~vkrnbcr'>h i p Interest ........................................ ................ .. 18
  I0.J.    Co ndi tions to Penniltl'd 1·rn11s fl' rs l} I. i'vlcmhcrshi p lntnc..:sts ............................ .. ... I <)
  I 0.-L   1 ~ ni:c ti' L' Dat\'.': D istrihu li11ns. ................ .............. ...................................... ......... ... I9
  I 0.5.    1·rn nsli.:ro1" s Obiigations .. .... ...................... ............... ...... .................................. .. ... 20
  I 0 .<>. Assignee ·s Rights and Ob i ig.at ions............ ... ............................... ......................... 20
  I 0.7.   E rrcct and Cn 11 scquen c1.·~ o l' Pruhibikd T ransfer .. ...... .. ..................... ............... 20
  I CUL    A gn.:i: menls 01· Spnt1<;l': Snk \ lanagcmcn1 (\111m1uni l: f>r(>pcrl~ ...... .................. 21
                                                                        1

ARTIC LE XI ,\l>Ml SSIO~ OF NEW \1E\·IB ERS ............................................................... 2 1
  11.1 .   Subs1i1 utcd l'vkrn bcrs ... ........ .. ........ ....... ................. ... ... ............................... ........... 21
      11 .2.          Addit io nal       ~vk mbcrs .. .......... ......................... .. ....................... ................ ..... ... ...... ..   22

ARTI CLF: XI I \VITI ll>RA WAL OR IH~ MOVAL OF 'IK\tlBERS ..................................... 22
  12. 1.     \Vi1hd ra\\'al or jvk mbcrs .. ......................... ............................................................. 12
  12.2.      Rcmowl of" \!!embers ..... ................... ... ... .. ........., .................................................. 23
C o\11• ' ' ' A<.1u .1·: \1t:' 1 01· Cl '11 1uo' l.oc 1-.. 1 t< ' L LC
                                                                   I' \(; I. ii

                                                                                                                                                                   MR.478
     12.3.             Optional        R~demption
                                              of Membership I ntc rest .............. ........................................ 24
     12.4.             St<1Ltts of fo rmer Member .................. .................................................................... 24

ART ICLE XIII WINDING CP AND TERMINATlON ......................................................... 24
  13.1 .   Evt:nts Requiring Windi11g Up ....................................................................... ....... 24
  13.2.    Winding Up Procedures ................................................................................... ..... 24
  13.3.    Continuati on Without Winding Up ....................................................................... 25
  13.4.    I.iquidation of Assets and /\pplication and Distribution or Pn>c eeds ................... 25
  13 .5.   Certificate of Termination ..................................................................................... 26
  13 .6.   Rcinstatc1ncnt .......... .............................................................................................. 26

A lffl(~ LE        XIV YA L U.I\l'ION .................................................................................................. 26
      14.1.          Fair Value of Company Property .......................................................................... 26
      14.2.          Fair Valt1c of Membership Interest . ................................................................ ...... 27

ARTl CLE XV GENERAL PROVISIO:"IS .............................................................................. 28
  1S. l.   /\ n1cndn1cnts............................................................................ .............................. 28
  15.2.    Notice ..............,.................................................. -................. ................................ 28
  15.3.    Governing Law: Consent to .Jurisdiction ................... ............. .......................... ..... 29
  15.4.    \Vaiver ............. ............................... ... ....... ............................................................. 29
  15.5.    Ent ire J\grl!c1ncnt ................................................. ................................................. 29
      15.6.            Successors and Assigns ...................................... .............. .. ................................... 29
      15.7.            Third-Panics ................................... ....................................................................... 29
      15.8.            Sevcrabil ity ................................ ............................................................................ 29
      I 5. 9.          Cc)nstruc:tion ............................................... ............................................ ......... ...... 29
      15. l 0.         Execution of' Agn:e1rn:nt.. ........................... ........................................................... 30
      I S. 11 .        Further 1\ ssuranccs ................................................................................................ 30
      I 5. l 2.        Pov•er of J\llorney ................................................................................................. 30

EXHIBIT A ME\.1BERS' CONTRIBLITlONS AND PERCENTAGE INTE IH:S-rs ......... 32

l~ XHlBIT         B SPOUSAL JOJNOER AND CONSENT ............................................................... l

APPENDIX A PRI NCIPLES OF ALLOCATION ............................................................... A-1
     .'\. l            In troduct ion ........................................................................................................ /\.-1
      A.2              Dclinitions ............................................................................................ ............... ;~-\
      A.3              Capital 1\ccuunts ......................................................... ...................... .................. A.-4
      A.4              J\llocntions of Net Profit and Net Loss ....................................... .. ................... ... /\-)
      /\ .5            Tax ;\ !locations ............................................................... ................................. ... 1\-8

Ct1'11' .\ ' \ ,.\{:tU.r.   '"·'I   OF Cl.., l'I Ill()' L,\( ;~: il l
                                                                                                                                115118 1812! 1220 1-1

                                                                                                                                                         MR.479
                                                c o rvlPANY .-\GnEID IE l\T
                                                           OF
                                               CENT t:IUON LOGISTI CS LLC

         l'11is ngreemc111 (""Agreement"·) is entered into clTcclhc as or September 18. 20 IJ (till'
··Effccti\c Date··). hy lhe persons identilied on the signature pagc(s) hcn:o r.

                                                         RECITA LS

      1\ .    1"11c Company was frmncd pursuant to a Certi ticatt· of Formatint1 tiled wi th the
Sctrdmy nf"Stale or thc Stale of Texas cllective ns ol'Scptcmber 16. 2013.

        B.      The pnrtics desire to provide for lhe regu lation and                   mann~e rn cnt    nf the     ~1 1Tnirs     of
the Co1111xrn) nccording to this /\grcemt?tll and the Code.

          l\0\\'. l l IERl:FORE. the panics agree as fo ll uws:

                                                       ARTICLE I
                                                       O t<: FI N ITIO~S

          I. I .       ()dined      I\~rms .

          1°111..' l~)l l owing   defini tions and the tkli11itirrns set fort h 111   ~rn1c1H.fo: 1\   to this 1\grccment.
nppl)   ll)   the   lenn~     used in lhis Agreement !'or all purposes.

        ··Atlt!itional Capital Contribution·· means the sum or cn~h and th1..· Fair Value nr an~
properly rnntributcd 10 the Cumpany \\.i th n.~spcct tn a Mt:mlx:rsllip lntl'rcst as permitted under
this !\gn:l'rncnt, hul dm.:s not include an Initin in question.

          ·· ~\t!.rccmcnt· ·      means thi> :\gn:c1nc11L ,is it may be rnncndctl. suppkrnentcd or resta ted
from lime       (t1   time.

        ·· !\ssiunee·· means a pcrsnu Ill \\ hom a ~kmhcrshi p J 1111..·rcsl has bcL'll trnnsll:rrcd b: a
\ ·kmhcr ~ir 1\ssig11cc in a Pcrmiltcd rranskr. or in a Prohibited l'rt1nsfl·r that the Compan: is
1\:quircd h) la\\ lt1 rt'<:t1gni1c. but" ho has not b1..·conw a :Vlc111 l\:r.

       ··C:api 1al (\1ntribulion .. means lhc st11n or the Initial Ctp ital Contrihutinn and Additional
Cnpital Contributions. if an~. wilh n:spct:l tn a ivk111hcrship Interest.

                                                                                                                     E.:\ 1111111 A
                                                                                                           11<1 1 ~~1)\\2:! l:!:.' 01 ~

                                                                                                                                          MR.480
         ··ce11[1icatt: or Fonnation .. means the ccniticate of formation fikd \\ ith respect to tht'
C11111p as provided in Section 2.1. as sw.:h ccrlilicak' may be cnrrcclcd . amended. or rcstntcd.

       ··certificate or Membersh ip Intcrest'· 111cans a ccni limtc n.: prcscnti ng. each l\•kmbcr' s
~·kmbcrship I ntcrest in a lotm approved b) the Managers.

       ··code .. means the Tcx11s Brn.;incss Organi1.ntions Cmk. as anwndcd from time ro tinh.'.
and any successor law .

       .. C'llllll?J!.!.l{.   mean~    the limitt:r nnt such person has the status required to be an lnd cnmiticd
l\:rson al the lime any Prm:ccding is made l1t' m:iintnincd as dc~ nib ed in Aniclc YI or '11 lhc time
any amend1rn:nl tn this 1\grccmcnt is prnp<1scd limier Section 15 .1 .

          .. ltH.!c...: Rutc.. mcans thl· rntc spcc iltl·d in scctinn    ~0~.002   of the Tc'\as 1-'innncc ('(1tk

                                                                                                                 E.\ 11 llCI I    A
                                                                                                       I l ~W\ llh 2 .:! I !   ~•II   I

                                                                                                                                          MR.481
         ··Initial Capit .

       .. Permitted rransli:r'' rnem1s nn y lrnnsl'cr o f a     ~kmhcrship     Intere st th\11 is describ\.'d        111
Section I0.2.

       ··ProcceditH.!... rnenns la) n n~ lhrcntcnetl. pending. or Cl1tnpkll'd action or other
proceeding. \Yhether ci\ ii. crim inal. ndrninislrati\c. nrbi1rnliYc. l ) r inn:stiguthe: 1h) an appeul or
any such proccr:ding: nnd (c) an inquiry or in\'Cstigatitrn that could kad lo any sw:h proceeding.

                                                                                                         f.~ 11111 11 .\
                                                                                               I i_l'rmilll'd
t'ranskr.

        ··[{cquisitl' l'<.:rccnlal!e·· ll1L' tl Member lo the Compa:

          lb)      rd'crcncc lo ;.
            2.7.        Compan\' Pro pert\ .

            (n)     :\ll Cnmp:iny prnperl) slrnll bl:' n\\llcd in the ll
1wrnc of an: \1emhl'r. N11 tvlernbcr or 1\ssi~nl.:'e will IHI\\' .     Consent or fvlcmbcrs. Faeh p.:rsnn executing this /\grel.'mcnt consents to the
admis~ion   as members in the Compan) al l t)(' thc Initial Members and all l)thl.'r persons who are
Members as or the date sui.;h person t:Xl'.tlltt:S this /\grccmcnt and run her l'.Onsents lo the issuance
of nclditional l !nits as provided in Scctilln .2.9.

         2. 10. Status of Ma nagers and Members.          htept as othcr\\'ise provided by 1his
Agreement. lhc Managers haw lhi: status. rights. and nhl igations L'f a manager in a limited
liabilil) cornpan) as set forth in the Code. and each Mcmbt:r has thi.: slntus. rights. and
obligations ora member in a limited liabi lity t.:mnpnny as set fo rth i11 th1.: Code.

           2. \ I. l Jn it Cqtilicalcs. l·:ach :Vkmber' :s Units mny be rqm:scntctl by a \ Inil CertiliL:atc.
11· Unit Ccrtilicatcs nrc issued. cn~h llnit (\·nilicatc shnl l bi: numbl.!rcd and registered in 1he
r1.'l'.Ords of the C't1mpn11y ns th1.·y arc issued. and signed by any or the Managers. I hc holder nf
ttll) Unit CerLi lieak shall prnmpll) noti(' the Company ur any loss or destruction t)!' th.:
ccrtificak. and the rvlnnagcrs shal l cause a replacement L:erl ificnte Lo be issu1.·d to thl.! holder upon
                                      or
recei pt nl· sali sl!1ctory t:\'itlcn<.:c     the loss. de.st ruction . or mu1ilation nr the cerli llcntc and
satisfodion of other l'l'. llS()llilble 1.:nnditions.

          1.12. f\o Stntc La\\' Partnership. l'he l\tkmbcrs intend that the Compnn) is not a
p<1rtnc.:rship or joint n~nture. nnd that no ~vlanngl.'r nr Member is a partner or a joinl ,·entut·L•r tll
an; nther \lnnngcr nr Member for any pmpo:,,cs other thun income la\ purposes. 1'\n prm·ision
orihis 1\gri:1.:rnl.'nt tnJo ivkrnlK·r has the right or is pcrmiltt:d lo 111nkc
Addi til>lll'n:l'nlage
Imcrcsts.

         3.3 . Capital Accounts. Thl' Company sha ll establish a separale C1pitnl 1\ccOlllH for
l.'ach Jlvkmber and 1\ssig.11cl'. rill' Capital /\ccounts shall be nrnintaincd accordi ng to 1hc
             or
pro\'isions Appendix t\.

        3.-L      No Right lo Rl'turn or or Interest on Cnpital Account. Nn Membn may demand
or rccci,·c the n:turn r'11' its Capital Contributinn or any portinn or i1s Capi1nl /\e<:tH1nl. except as
prm ided in thi s Agret•ment and thl' Code. The ~vlanagcrs do not ha,·e any personal liability 11.w
lhc repayment of any Cupital Contributions or any tvkmbcr. No intcrcst \\·ill accrue or be paid
"ith n.:sp~<:t LO thc Capit111b-:r >J~HL' S tlm1ug.h thl! end nr 2()0\J.
it i:- inti:ndeu that su<:h net 1<1.xuhk income ''ill be nl lllcated to the tvkmber ~oles holders tn the
cxlcnt tit' an) a1.:cn1L·d interest nr original issue discount nn the r1vlc111bt'r !\oles. and ii' ther~ is a
net taxnblc loss !or :;ueh pcriml. it is i 11L1.:m_k d thnt such net ur\:abk loss "i 11 be al located lirst to
lhl' f\.Jcmbcrs [() the l'Xll.'lll or th\.·i r l'apital Cont ributions and lhc11 ln till' holders nr the!\ kmbcr
l\otcs.

C0\11'"' A<;RH\fl''\l Ill Cl '\II lllO'\   1.oc1-.11<~l.l.C                                               E.\111111 I ,\
                                                                                                 I l 511!; l X\ 2 2 11 ~I ll~

                                                                                                                                MR.486
                                                     ARTICLE IV
                                     Al.l.OCATIO~S      A:' IHST RIB l!TlO NS

        4.1 . /~lloc:u i on or Prnlit or I . us~. Subjett to Section 3.6. Co111p;111y prolits and lossc!:>
~hnll he nllocatcd among thi: Members nnd Assignees in accordanl.'.e \\ ith the 1wo' isions ot'
QPJJt:ndix 1\ m as is dr tcnnint.?d by the Managt:rs. lhe 1vkmbers an: ~l\\'\11'1.'. of the income tax
consequences nf the nl IOCll d1..·mand or. at the dl't:tinn l )I' the lVh111agL·r~. is n:pa~ nhlc nut 01· distribut ions
tu" llich sud1 i'v krn ber tH' 1\ ssignl'L' would uthen\ isc he 1.•. ntit lcd .

          . 1..i.   I.imitmion       011   Distributions.

           (a)       I he Compan) mn~ nnt make u distributinn tn n ~kmber m Assignee if it \\'Oulu
remkr lhl! Cnmpany i nsnlvcnt. ddl'rnl inl'd in accor lo the nssc1s ti!' thl' Com pan~ for ;111~ distributions.
inch1d i ng liqu idating distributions. If the assets nt' the Com pan) remaini ng. alkr the paymen t or

                                                                                                           E\ llllll I ·\
                                                                                                  I I ~llS I!\\ ~ 1 12 201 I

                                                                                                                               MR.487
di:-;clrnrge. lll" the pmvisilln for payme11l or di~thargL'. or the Co mpan~ lia bili ti es arc insulfo.:icnl
Ltl mal..c any distributinns. no \ikmbcr has any recourse against the sqmrate assets or rn1) other
Member.

          -LS.   >fo lfo~ht to Partition or Distrihu1ions in Kind. Nn Mcmbcr has any right. and
\\'ain.·s m1y right that it might ()therwise lul\·t'. 10 cause all) Cmnpany properly to be partitioned
at1d/or distributL'd in kind. h;cept <1s provided in Section IJ.~(d) (relating tn liquidnting
distributions). the Compnny may not make an) distributions in ki nd.

                                                 ARTICLE V
                                              MANAGEME~T

          5.1.     i•vlana~!nent   and Conlrnl   orCompnnv 13usin-:ss.
          (H)    Sub_icct to the limitations set forth in this /\grccmcnt. the Manag.crs ha\'c
e:-:cl usin: authority to manngl' :i11d conduet the Com pan)· s business. The \!-tanagers shal l do all
things appropriate to cnrry oul the (\rn1pa11y's purpose. I :xccpl as othern isc provided in this
t\g.recment. all net ions that the i\ lanager:-; may tnke nnd all dctcrmi nations that the Munngcrs 111ay
                                      1

make pursuan t to this Agreement may be taken and mat.Ir..: in LllL· absolute discretion of' till'
i'vltmag.crs.

          (b)      I he initial Manngcrs of the Comp;111y are:          .John Calcc. Antonio Albanese. nnd
~-tare   Mmrocco. I :m:h \!tanager \\·i II SL'n·e as a Manager u11ti I his su<.:cc:;sor is nppni lllcd pursuant
[() Set:tiun 5. 7(1}.

         (c)       The ~vkmb~..'rs muy not htke part i11 1he mr11wgl'nient ur control of the Company
 businL'Ss or bind the Compnn) in lhl'ir cnpnC'i1y ns rvlcmbers. i\ ivkmber may hn\'e the stnllls of a
J'vlanag.cr ~ir g.twcrning person nr n M;magcr or the ( 'umpany and may possess and c.xcrci sL' the
 powers :rnd au thority assrn.: ia1cd wit h such status.

             (llJ   Meetings or the ~'t anagers ~hnll he held li·()l11 time to Lillle as determined b) the
\.htnages . .\fonagers nHt~ participate in any mcl'ling. b~ means of video or audio conf'erem:ing. or
~i111ilar com111unil.'.alio11s equipment\\ hereby ull \\ h111agcrs cnn hear ench other. No notice ot'<111>
meeting. \>r the l'vlnnagcrs is required Lo be g.i\ en. At nil meetings ol' Managers. the 1m:sencc of a
1uzjuri1:i t,r thi:: ~11aµcrs shal I be nccl'.ss11S,IS12 2 12 lill~

                                                                                                                             MR.488
\\riling. sdting. fort h the ac tion so taken. slw ll bl' signed by ~la n agcrs ha,·ing not l'ewc:r than 1111..·
minimum number or' oles req uired w approrc such ac ti on under the CodL'. the Ccni lkatL' nr thi s
Agreement. J\ 1:1csim i h: or si 111 ilar reprnduction of a writing si gncd by a :Vlr1nagcr. shn ll lK'
regarded as signed b) the :vlanag.ers for purpnsl!s of this Section 5. I(e ).

        5..2.    Dclc12.ation   or /\uthorit).
        (a)     rhe Manager:-; may cat1SL' the Company to hire employees and agents. rwd may
dclcgati: tu such pi:rs{)llS any or its authority hereunder. as the Mmwgers deems a p proprb t~ for
the conduct of the Company's business.

         ( h)    The IVlarn1gcrs may appoi nt officers or the Cornpnn) as the ~ l nnagcrs dcc1n
appropriate. The ol'tiecrs lllil) be <)ppoi nti:d for such terms and may cxcrcisi: such pt)\\crs and
authority and perform such duties as ckterm incd hy the ~vl anai;ers. 1\n olfo:er need not be u
Mi:mb~r or the Company. /\ ny two or mon.: nlfa:L'S may he held by tht: snm~ persnn. Any
llfficcr ckcterl h in this /\grecme11t. L::wt") document 1:xecuted by a
Manager \\ ilh respt:l'.I to an) busi ness or property of the Compnny i ~ co11cltl':;i\'c c,·idencc in
litrnr of any jWrson n..:lying Oil the dOC lllllCnt that (Cl) nt the time  or
                                                                          the l''.\'.l'Clltion and delivery of
the document th is 1\grcl'll1L'nt " ·ns e!Tecti,c. (h) the dm:urnrnt was c"ccuteJ in accnrdarn:L' \\ith
this /\grccmi:nl and is binding upon the Company. and (c) the \.1anagcr was authnri1:1.'d to
('XC'Cll l C and dcli,·cr th\.' docu1111:·nt on behalr or lht' Cumpany.

          SA. Compcnsr judiL'ial authority or contained in any 11.':dcral or slate statute.

       (d)    Status ot' Forl)lcr ManalJ,£[. /\. :vtanager \\ho h~1s resig,ned in vio lation                       tlr   th b
/\grcernenl or \\'ho has been remo\'l.:t.I has the ::->talus or an /\ssignec \\ilh respect                         10 un~
\1kmbership Interest hcltl by the forme r Manager.

           tL')        lnh.:rim Munagcmcnt. During the period lhal th1: i\tk:mbcrs may l'kcl ~1
rcplncl'mcnt :Vlanngcr ns provided in Section 5. 7( 0 uml prior 10 sucli election (or nn elec tion 10
"ind up the Company). the Members may by \'Ole of' a Requisite Percentage appoint an Interi m
manager ha\ ing authority lo manage and condud thl' Company's business as the Managt.:r as
pnH'idcd hl' rcin. Ir an interim Manager is t)ol appoinkd. thL' aulhorit~ tn nrnnagL' and conduct
tlw Company's business is vested in the Members who may t1d b~ ' 'ole or n Requisite
Pert.:L'ntagc. n11d who may by vole or a Requisite Pcrcentngc appoint a t.:omm itkc o f' 1mL' (W nwrc
per.sop<; ltl l'\crl· isl' the authority of the Manager until such time ;is u repl ncement Manager is
ckl'tcd or the Company eommL'nccs winding up. The l\lc111her.s ~hnll lilc any requ in;d
:t11Jl'l1dll1l' ll ls tn this /\grecnll'nl or the Ct:rtilicatt' of' Formation Lo reflect the rcsignution <'r
renHn·al <)r the fnn11cr lVla11agcr and the appointml'lll or the interim IVln11•1gcr or the con,Trsiu11 of
the Cumpun~ 1~1 a 111embcr-nrnnnged limited liability company. !\nd all f'vkmber~ appwve an;.
such a111L'11d111L'nb.

          ( f)       l'.lcct1011 of Rcplac:emclll ManagL'I'. 11 a i\,latwger dies. is disnblctl. rcsig11.. or is
rL'l110' cd as the nianagcr of the Company. \\ ithin <)Q da~ s llilki'' ing sut.:h denlh. disablement.
resignqui:-;ite Pt:reentngc ma) elect n reph1L'l'11H!l1t :vt.mager or the: C11mpa11y
elTecliH· ns nrtht' date oflhc.: runner ivla1 wgc1" .s denlh. di sablement. rcsignalitm. \\I' l\!llH)\·al , The
i\ fan•tgl'r'i sha 11 l'ik llll) n:quired nmendrncnts to thi s :\grl'ement to rdlcct the death. disabkmcnt.
l'Csi~1la l ion . or n:muvnl or the former Nhtnagt.:r nnd the dcctioq or the n:place111c111 \Tanager.

Cm11• ' ' ' M ;t1 1T \lt:\ 1 Ol   C't.'   11 Hiii' t.01.1.., 11cs LLC                                       f: .\ 111111 I ,\
                                                                                                    11 '0~~1'1 ~  1 12 211 11

                                                                                                                                MR.491
                                                    A RTI CLE V I
                                    UADILIT\'        A~ D I N l)l~ MNIF I CAT I O~

         6. 1.   Limitali()!l of _lillbiliLY· Nl) Member or Manager is liab le fL)r an) debts .
Llbligations. or liabilities       or
                               the Company. Subje1:t to Section 6.3. an lndl'mn ilicd Person is not
liahll' tc1 the Cn111pany lll' nny other lndcnrnilkd l'nson for an) L>anwges arisi ng fro m any
Proi.:ccdi ng relating to the conduct or the Compnny·s business nr rdating In an) ad or omi ssion
b) the lndemnili1:·d f\:rson '"ithin the scnpc or the lndcmnili1:d Person·s authority in the courst!
or the C'ompan) ·s business. including any breach or any liduclnry duties. or for any misconduct
or neg ligence on the part or any other person who is an employee or agent or the Company.

         6.1.     I11dc111ni ti cation bv Com pall\ . lo the fu Ilcst exknt pcl'll1ittcd by app licabk law.
and subject to Scditm 6.J. the Cnmpuny indcmnilies and hold!'> harmless each lndcmnilicd
Person fh)ln and against any Damages arising from any Proceeding relat ing to the conduct of the
Company's business or to any act or omission by such lndcninilicd Pnsrn1 within the scope or
the lndcmni lic.: la\\ .

        (b)       \Jo prO\ isil)n orthis Agn.:cn11.:n t rl'qu in:\ the Compan~ to p amount
l'n r ''hi ch indemniti1.:atinn is not pcnni\lcd uru.kr thi s ,1\rtick VI.

         (c)    i\ny pny1rn.:11t:> made I<.) or on hdialr or a pl.'r.son \\ho is Inter determined not In be
i:ntitkcl to such payments shnll be repaid by the perslm to the Cnmpany. ·1he Corn1x 111y ma:-

                                                                                                                    Ex 111111 I ,\
                                                                                                             li'IJ~llh : '   I.' 'Ill I

                                                                                                                                          MR.492
1\~qui rc. ns n condition lo lh(' paymem nr an) amounls pmsuant to Section 6.2. that lh1.·
lndl'.mnilicd l\:rso n prmitlc to the Company {i) a \Hillen ani nnalion by the lndcmnilicd Person
( 1r the pcrson·s good fai th bdief lhal lhe person has met lhe standard or cnndUCl 111.!CCSSary for
indcm11ilic<11ion under this Sec ti on 6.J: nnd (ii) a \\l'ittcn undertaking. b;. or on bd 1~1 1r or the
lmkinnilied Person to rc:pa) the <1111ou11t paid or n.:imbursed if the pi.?rson has not met that
slll mlnrd or if imkmnilica tinn is 01hcr\\ise prnhibiled b} la\\ ,

        6.-L    Insurance. The Company may mnintnin insurance lo prntecl any person ngain~l
any ex pense, liabi li ty. or loss. ,,.hl.!thcr or not the Cornp;my would ha' c the pl)\\'CI' ll) indcnmit\·
such pe-rson against such expense. liability. or loss under the Code.

        6.5. Su1Yival. The imkm ni tics proYidcd for in this J\gn:~t·tll c n l Slll'\'i\c the lt"anslcr or
an lmknrnilied Person's Mi.:lllDL'rship lnlcn:st. the krmi11t11iu11 or the pcrson·s SlCM. lhc i•vl nnagcrs
slw ll deli\'i.:r lo cnch tvkmbcr an anm1<1 l report rnlllaining. 1hc folio\\ i11g :

             {il)    "           hnla11t:1.' :-.heel HS nr the ..:nd or !>llch lisi:al y..:m. and Compr fedl.'rnl income lax
purposes.

        8.2.     Ct>mpam· Returns.          lh: Managers shall cause the Company to ri le such tax
1·c1mm; as Jnll) he required by la\\'.

          8.3.      rax L:b:l ion s.
          (a)     General. b:ccp( as 1H hcr'sisc prm ided in tlfr.; ,\ gr('e111L'11L the ~vlanag.ers shal I
ci1use the (\1mpiH1). to 1i111dy nrnkc or revoke all elc:l'lions. and lake all tux r1.·purting positions.
nccessar~ or Lksirahlc ltH' thc Cornpnny and lo mnxi111i z1.: the ta~ lK1 ne i'i1:-; lo th\.' \ilcmbers. \lo
l'leclio n shall bl..' maJ1.· Ill lwvc the Compnn~ l.''\Cludcd from llh.' applil'ntinn or nn: pro\'isinll nr
Subchnpt1.'I' Kot' thl.' I.R.C. or any equi,alcnt lax pro\'isio11 in <111~ nthi.>r Ln:-. jurisdicti1 1n.

           (bl     Section 754 F.lcct ion. ·1he Compan) shall make lhl' 1.·kctil>ll n:krrt:d to in l. R.C.
S1.'CLinn 754 upon the rl.'quesl ot' ~m y \ 1L'mbl'r in connection \\ ith II tr:111-;f\:r nr the :-Vkmb~r" s
                                               1

1'·k111IK'l'~hip I11tcr1.·st.

          (l:l      Sa lC: I l<1rhor Elec1io11 for CompcnsaLun· ;\.·lcn1bership In terests. If Proposed
 rrcm;ur~ Rc g. ul~1li t>11 1.83-J( I) is rtdoptcd :is rt tc rnpo rn r~ or litl\11 rq;ubtinn. the Compnny shnll
nrnkt' the -;ali..· hnrbor l'!cc tion described in such n:gulatit)llS. nnd llw ( 'umpuny aml cuch Member

                                                                                                      F.'\111 11 11 A
                                                                                              ll 5l l81~\22 1 2 ·~01~

                                                                                                                        MR.494
(including any pcrson to whorn an int crest in the Cc1111pn11y is transtcrrcd in cunnettinn with the
p1.:rfnrn1~11H.:c nf' services) shall cnmpl) with all n:quin.~mcnts o!'tht· sale harbor\\ ith rcspcct lo all
t\kmbl.'rship lnll'resls lransfcrrcd in connection \\ ith the pcrfonmlllCC oi' SL'rVices \\'hiic the
l'll'dion r..:mains effecti' c. The Mam1gcrs shn ll prepnre. c~..:cute. and Ille any 1·cquirc.:d
dm:uml..'ntation to cause 1hc L'kction lLl be cffecti,·e. The Ma11ag1.:rs ma) termlmw.: the sa le hmbor
cll'ction at :rny timl' if it determines in g.nnd foi1h 1ha1 it is in the bi.?sl interests of the Compan)
nnd the i'vlcmbcrs to do so.

          8.4.        Consistent Reporting.           r:nch Member sh11ll. on the Member's tax returns. treat
l.'ach parllwrship item (as detined in I.R.C. Section 62J l(a)( ))) in u manner consistent ''ilh the
1rc.:a1111cn1 or th~ item on the Comp::iny·s return in all n:spccts. including the nmmtnt. timing. and
t:harncler ur the ill'111. No Mcml1l'r sha ll lilt: a reqUl'St for 11 11 rn.lministrali\'l' adjustment or
partnership items untkr l.ltC'. Section 6227(a) ii' such request \\t>uld 1:nus<: the :Vkmbc1-'s
                                                                           or
ll'C:ltmenl ol' the item h1 bl.' inconsisll.'11[ with the lrentrnent the ilt:m on thL' Comp;iny" s return.

          (d It) be pmpa11: nnd l'L'lllnst' llts in lk u ora mce1 ing. shal l be in t'o nfonnil~
with Chapters 6 anti I 0 l ( 11) of the ( 'ndc. St:cl ions I 01 ..15.1 through I 01 ..156 nf the Code
{relating tn quorum and mininwm rnling rcq uirc1111.~nls) sha ll not apply to the cxtt.:>nt such
pro' isions an.: inconsistent "ith this Agrccmcnt. Thl' Managers ill\.• sole!) responsible for
co1l\'e11ing and conducting meetings llf the \1cmbet's. COl1(1Ucting the solic itation or consents.
determining the rnlitlity and cffci.:t or responses to any sol icitation or const:nts. and determining
01hcr malll:rs regarding medi ngs. \ nting. anti rnnscl\l s.

          (d)       Notice or the results or an) rntc taken at a inccting. nr lhl.' results nr H11)
sol icilaliu n or consents in lieu of11 meeting:. shall be gi,·en lo the.: Member:> IHlt IHtcr than" ith thi.:
ddi\'l'I')' orthi.: next l'nllowi ng l\' pon or lina nl' ial infonnnti1rn g.i,·e11 pursuant lo Section 7.3 .

         9.2.      Votim!. ;\ ivlembi.:r m;1~ vnk al fi:-r of a i'vlcrnbt-rship
                                                                                                              or
ln\l:reSl. fllCtlllS tlll llSsiglHHL'lll (\\hl'\ ll1.'1' \'Olt111la!•il) . illYOlll11ltll'ily, OJ' b) opcralic.)ll ltn\ alld

                                                                                                                 f.\ 111 1111 .. \
                                                                                                         11 3 11/Wh ~ ~   12..' tu "ithhold approval for th(' transli.:r nf a l\k1nbership Interest. a trnnsfor
shul I nnt hL' a Perm illed Trnn:::fc:r unless the ivlnnn!.!.crs dd~nn inc thnl al I or the follm\ inu   ~                                                    ~

torn.l itions <11\: snti :•ilied ~

             (a)           The trnnster co mpli es" ith all appl icabk hl\\s. including uny npplicabk sccuritks

           (b)     ·1he trans ler \\'il l not cause thL' Com pan) to l1L·                                    iri:ated as   t~thcr   than a partnershi p
t(1r l.:nitL'd States fl'dernl income tax purposes.

      (c J   l he trnnstcr wlll not cause the Company to be                                                    ~ubjcct     to rcgulatio11 under the
lnwstmcnt Company Act of 19-W. as amended.

      (d)      The transfer \\"ill not cause any nssets or the ('ompan)                                              ttl   bt: deemed "plan assets"
umkr the 1·.rnployee Retin.:mcnt 1ncomc Scrnrit) /\cl or 1974.

       (e)      rhc trnnster will not resul t in a termination of the Ctimpany under l.!U..'. Sce tion
708. unless the iVlanagL'rs detL'rminc that s uth li:nninnlion \\ ill 1101 ha\'e an nd\'CrSc im pact on till·
Members.

             (n   !"he lrL'.l'lllllll"d Trans li:r orn i'vkmbcrship lntt:rl..'Sl l:- l: ffl'l.Cli \I..' ltS tl r the ll1·s1 da)                             or
lh L'   1:.

("I I\ 11' \ "\ \ ,\ (.Ill I . \11. "\ I cH·rally linhk to the Company for. and shall i11de11111il~ and hold th.: Company lwnnkss
ugainsl. an~ expense. liabilit). or loss incurred b) the Computt) (i ncluding rcasonablc leg.al lees
and cx111.·. nscs) as a resull or suc h tramJer. thL'ir n.'lllll\·nl w1d liquidatilHl or their ~kmbershi p
lnll'rcst~ (irnpplicablc ). and t h~ efforts tn enfon.:e 1111.' intlemnit~· granted in this Serti on 10.7(c).

(° 0'11'\'\\ ,\ C.IHl. \11 '\t 01 Ct·.\ll lllO'\ LOGl'\l l('i I.LC                                          E\111111 I .-\
                                                                                                                ~ 12 ~ 11t J
                                                                                                  I l ~11:-C~K1.!

                                                                                                                               MR.499
         10.8.      Al!.rCClllClllS or Sgouse: Sok i\fan~H!Cnt Clll Cnm1nun i1\' Propcrl\.

       (a)    1-:xcculinn nr Spousal Jo indcr and Co1Jsenl. The spouse lll" each \.kmbcr shall
cxeculc and deli,·cr l<'l 1hc Company a Spousnl .loinder nnd Consent in the form or Ex hibit B.

         (b l       1\!.!.reemcnls      or Spouse,      I he    spous1.·   of' each :'vkmba ngn.:es that :

                    (i)         this /\greemcnl is entirdy fair. just and equitabk and in his or her hes!
        interest:

                    (ii)the co\·ernmts made in this 1\grccml'llt nrc binding nn such spouse
        iml i ,· if the death or such spouse. lll1) l11ll.'l'\.'::il such Spouse Illa)
        IHt\'C no'' nr hcreartcr in an: :vkmbcrship Interest \\hid1 constillltcs co11Hnu11il) proper!)
        should pass to suc h Mt:mbc r and. nccurdingly. such spouse shall ''ill nnd bequeath such
        Spl)Usc's entirl..' conu11t1nity property interest. ir any. in sueh f\.kmhcrsh ip lnten.:sl Lo suth
        f'vkmbcr.

         (d      Sole Mn11ng,e111c111 C'~!mmunit,· J>rt~p ert\'. Each f'vlcmb1.:r \\htl is a natural pl."r~un
.111d his or her spouse agn:l' thnl such tvkmher' s tvlembcrshi p I nlerl'sl. whether present ly O\\ ncd
or hcr('aftcr ncquircd. is. if sw.: h l'vkmbt:rship l11ll:rest is commllllit: proper!). co1111nu11lt:-
prnpcrty Sll h_icct ln the sok ll1itnt1ge111c:n l. Cl lll t rt) I. and di spnsi I inn or such :--. tcm her.

                                                         ARTICLE XI
                                              ,\l> i\ llSSIO~   OF '.' il':W \JE:\-tlff RS

             I I. I. Substi llltcd ivkmbl'rs. 1\11 t\ss ign1.·1: o!' a :vkmbcrshi p l ntl.'rcst shall he admitted a:;
ti Suhstillltcd Member \\ith re spccl to :-.uch Mc:1nhcrship ln ter~!'il t in lhl' date on \\hich al l ol" the
lo ll l)\\ ing conditions .ire satis licd:

         (a)         I hl'   ~v l:rn age rs   h:i\ (' upp1·0 \·ed in writing thL' admission or the Sub:-;Lilllll'd l\kmbcr.

        (b )       I he :\ ss i!:,'lll'C has tkli,·crcd to the Coinpan> any ag1\.'e111cnls and other tloeum1.·n1s
thnt the \.fnnag.ers rcqu1.:sl to con li rm su1.eh :\ ss ignce ns a ~ lt:mbl' r in lhc Crnnpan> a11d such
Assignct.' · s agreement to be bound hy this :\grecmcnl as a :vtemher.

Crn11• \ \ \ A<:1u:n11.' 1 01 Ct.\ 1 l rtlO\ Loc.1.., 11<" LLC                                                       E\1111111 ..\
                                                                                                             1l it))(l)t12 .! ll   ~til   I

                                                                                                                                              MR.500
        (c)     Ir requested b~ 1hc :vtanngers. th~ Company has ren'.i\t'.U an admission foe in an
         dctem1incd b~ lh1: \tanagers tn be st1lfo:iL'l1l to reimburse the C:nmpany for the estimali:J
alllL)lllll
e~penscs like!:- 10 be inett1TL'd b~ the Company in con11cc1in11 1~i1h the admission of the 1\ssigncc
ns a St1bsti1utcd Member.

              I 1.2.   ,\dditiunnl ivkmbcrs.

         (a)     In Gem:m!. Tht" Managers may cause the Compnn) to ndmit a person as an
1\ddiliona l tvkmbcr and issue /\dditionn l Lin its ln such Additional ~kmbcr upon satisfoct ion of
all or the follo\\'ing conditions.

                       ( i)   l{cquisi te Percentage has npprowd the admission of the Additiona l
                                 1\
          rvk111 ber •Iller 1wtkclO all Members ol' (i) !he Initial Capital Contribution lo be inadL· by
          the proposed /\ddilional ivkrnber. (i i) the cfl'ecl or the: admission OJI tach Partncr's
          f>L•rccntage Interest. and (iii) other material information relc,·nnt to the proposed
          mlmission.

                      (ii)     The admission ol' !he proposed Additional :Vkmhcr satisfies the upp licablc
          t:0nd itit111s or ~1.'CliQ!l \1}.J.

                        (iii)   propos<.:d Additional Member lws dcli\·erc.:d tu the Compan) any
                                  1'111..'
          agn:cml.'nls and othl.'r docl1111cnts tha t the Managl.'rs n:quL'st lo conlinn the person as a
          Member in th1.' Company and the pcrson·s agreement lo he bound hy thi~ :\grccmenl m; a
          \ikmb1.·r.

                                                               ARTICL E XII
                                 WITllDl~ AWA L                OR REM OVA L OF .\ H:MHERS

              12.1 .    Wi1hdrawal or\ !embers.

              ta)       No l\k111ber ma) withdra\\ from lhe Company or otherwi se <.:l.' rming the tvkmbcr" s duties und<.:r thi s Agreement: or

                  (i\)    ii' th-.· Member is an 1.'nlily. rm C\'cnt requiring the :'vk111bcr·s \Yinding. up or
         <:~n1:sing
                  the lcrminntion of the :'vkmbcr's cxistcm:L' or suspension of the ivlcmber's right lo
         Jo husi ncss.

           (c)      If a i\1kmbcr ceases to be a Member in 'iolation nf St:<.:linn 12. I(!!}. tht: Comp:tn}
llHI)   reCO\ l'r dnmages fro Ill the former \tkmbcr ft)I' brl'nch or thi:-. l\grl'CJnCtll .

           12.2.      Removal o f Member~ .

          (al         1\ rvkmhcr may bt· n:mo vcd as a tvlcmhi.:r by thL· unanimous" rilll!n          cons~nt       or the
Manag~rs u1Klcr         the lt)llowing circumstant:cs:

                  (i)   the l'vkmbcr has 1n111::;tcrred or attcmptt'd to 1n111slcr nll or riny portil>n                     or
          its \kmbcrship Interest i11 a Prohibited Transl~r:

                      (ii) in the case or any :vkmber ''lw is also a Manager or nn Affiliate l>I' a
          ~·tanager. Lht Member or its /\niliate has ceased to be n Manager in ,·iolation or ~et:tion
          ~_liill or has been rcmnvcd as a Manager in nceonlnn<:c '' ith SL'clinn 5.7(b):

                   (iii)    the ivlanagi.:rs determine. in their sok discrl'lion. that it is in the best
          interest ol' the Company tl1 remove a Memhcr:

                   ( i \)    the Member has materiall y bri.:achcd the ti.:rm::; lli° this Agreement or                   an~
         1>1hcr 111a11:rial agri.:cme111 "ith the Cnmpany: m

                      ( ,.)     the \ili111agcrs determine lhe lo remm·l' :1 Member pursuant to lh i:-i Si.:c lion 12.2. thi.:
l\h111agers shnll not ii)· thi.: Member in "riling l)r till' prop1 1 s~d remm iii. and if applicable sha ll
pnn itk such :vkmbt•r [\ r-.'nsonablc oppununil~ 10 cure the l.'\'l'lll g.i,·i11g ri.se to n:mo\'al. ·1he
rcnw,·al nl. thi.: Memb~r is effcclin~ al such timl.' as tktennincd b) till' \Tanagl.'rs in ac1.:orda11ce
with applicable In\\· and taking intL) nccount th1.: l\,kmbi:r"s oppt>rtun it) to curl: the e\·i.:111 gi' ing
l'iSl' ll) l"l'l\ll)\'HI.

('()\II'\" AC It LI. \II.' I   m Ct' I l   IUO'   l.rn;i.., 11< s LI .c                                        E,.\1111111 1\
                                                                                                      11511l¢ l X,].'   1~ 21111

                                                                                                                                   MR.502
         12.3. Optional Ren I 0.4. l ~ :'\ccpt as othern·ise required by the l.R.C.. mnounts paid in redemption of an
i\ ssigncc"s Membership Interest shall bL' trcatcd as made in exdrnngt: ror the interest or the
Assignee in Company property pursuant to 1.R.C. Section 736( b)( I) . including the inte rest nr
such /\ssig.nee in Company goodwill.

          12.4. Status        or
                            Former Memb~[. i\ :Vkmbcr \\ho withdnt\\!" or has Lwcn relllO\'Cd rrolll
the Company or othcrn ise ccnses to be a rvkrnbcr has the statt1:>              or
                                                                        un t\ssignL'l' \\ ilh rcspctt lo
any Mcn1bcrship Interest held by such rorrner Member. 1:xccpt ns pro,·ided i11 Section 12.3
(relati ng, to optional redemption of a tvkmhc1.. s Membersh ip Interest) or Arlick XIII (relating to
windi ng up und termination), such lc1rmer \kmbcr is not entitled ll> n.~cci\·e any payments umkr
Scction IOl.205ofthcCodc.

                                                ARTICLE XIII
                                        WINUll\G liP A:'-11> TERMINATION

          13 . 1. l~ ,·e.nts Rcl1Uiri111.! Windin!.! Un. The Cornpnn) "hull commence '' inding. up
pn1cedurcs in accortln11cc "ith this J\grl'cmcnl and Lhc Codl' upon the tirsl to occur of any or the
follo " ·ing c\'ctHs:

          (a)        a Requisite Percen tage vok Lo wind up and terminate the Company:

          (h)        a decree by a mun requiring. the\\ imling. up nr the Crnnp•rny:

          (l'l       the tc rminalill11of111embcr~hip ol' lhl' last t\'111aini11g tvkmbcr: or

         (d)   the resignati on or rcmma l 1.i 1· ull Managers             ir   the   ~k1n lw rs   foil   to   1.: kct a
replat.:emcnl Managt:r as pro\· id~d in Sectio11 5.7(1}

           I J.2.    \Vindtng_\Jp Procedures.

          (a)     On the occurrence or llll C\"C!ll requiring\\ ind i n ~ up or the Company. unless there
is ;111 nction lo continue the Cn111pan: \\'ithnul '' inding. up in :icrnrdanct.: \\'ith SC'cti on 13.3. the
\tanagers (nr other l.iquidator as p1\1 \ idcd belo'' l shnll. ns soo11 as rcas\lnably practicable. '' ind
up the Company· s business nnd ulfoirs (includi ng. d isposing nr thl'. Cnmpan:-" s asscb  shall cease to cnrr: on its business (C'Xci.'pt to
the e.'\ tctH neccssar: to \\ind up its bu:-.inc.ss). l'Olkct and sell its property to the cx tl'nl 1111.·.

C0\11' \ '\ \ ..\(;ltn. \llSI OF Ct\ I l 1111>\ U1c;1:-.11< ... I.LC .                                      Lx1111111 ,\
                                                                                                    It rty is not tn he tnrnsfl'ITL'd or distributed in kind. and perforn1 nn) uthcr act required to \\'ind
up its husilll'SS and affairs.

         (b)    Ir thl.! Mnnagers han~ "rnngrully caused tht> \\'inding up or the Cnrnpan) or ir
there is no Mun<1ger. (i) u Requisite Percentage may rnte Lt' elect a person or persons l\)
accomplish the \\'inding up or the Company. or (ii) if the ~kmbcrs rail to elect a pcr:-;011 tl1
accomplish winding up the Cnmpany. then any f\lkmbL'r or 1\ ~s ignee may petition a court to
'' inn l 1.054 l)r th~ Code. The pcn;nn or persons
\\'inding up the Company. ''hdher the Manager!' or Jn dci.:tcd or court appointed person or
persons. is referred to in this Agreement as the .. I .iquidator:·

          (c}     The Liquidator mny determine the time. manner, and terms or  or
Company prnpt:rly pursun nt to such \\inmpany as dcscri bt:d                                 111
Sedion 13. l(a). the Company may be cunlinucJ as pnn idcd in Section I 0 1.552 nf the Cndc.

          {bl      Ir there is n tl·nni11atio11 or the continued mc1nbership ui' tltl..' bst rcnmining
'vlt:mber as desnibcd in Section IJ. I (t: !. then prior to t()111pktion or the '' imling. up protess but
not later than 90 days nlkr lhl' t:\\'nt of termination. the \tlnnagcr~ nm) continue thl..' Compun~ hy
admi tting one or mun: \lc111hcrs dli:1..:ti\ '-'as ur the occurn.:nt:\' nflhe l~ \ ·cnt or lerrninat inn. •\n>
1\ssignct: \\·host..' i>lTL'l't1lllg_C Jntl..'rt:Sl \\otdd be diminished hy rl..'aSt\ll or lht: admiSSlUl1 \)j' t\ 11
;\ddit il1na I Member under the l'ircumstancL's d.:snihed in th is Section 13 ..l( b) must apprm e the
nd111issil11l or the /\ddit innal f\·11.'nlbl' I'.

         ! .1.-1 .   Liquidution u!' ,.\ssds anti :\pplicaliun and l>istributio11    or Prnct:t:ds.
        (n)     In Ciencral. On \\inding up the Compnny. the Liquidntnr shall dispos1: or th1.:
Compnny·s propcrtii;:s nnd \1ppl) and distribute the pnKet:ds. or transler th1: Co111pn11y properties.
in the fol lowing tmkr or pril>rit):

                                                                                                                E\lllHll"
                                                                                                      11511.1( IX\.! 2 I.! 2111 I

                                                                                                                                    MR.504
               (i)     to creditors (including ~!embers who an: creditms) i11 uc1:orda1K·c \\ilh
       their relmiH~ rights anti prioritil:'s to satisfy the.: liabilities o l' the Cnmpnny. including
       expenses assm: iuted wi th tht: winding up and termination or the Company. hul excluding
       nny Compan> liability ror :my unpaid \~a11dnlllry Distrihutiuns:

                 (ii)       i\lkmb1:rs. Assignees. and former :Vkmbcr:-; to satis f) the Compan) ·~
                          tti
       liab ility for any unpaid ivlnndutory Di stributions: and

                 (iii)    ln I\ kmbcrs    and Assignees as provided in Section -L ~.

        (b)   t\o :vkmbcr Dctlcil Reslnration Obligation. No ivkmlK'r is liable I L) the
C nmp;)n~. Lo another iVkmber. 01· to a third party. for the n:pay1m.' nt ur any deficit in the
\ !ember's Capital /\tcotmt, extcpt as provided in Section I 0 1.206 of the C'ndC".

        (c )     Reserves. In the discrt'lion or the Liquidator. .-± shall bL· treated as made in
exchange for the inll'rt·~t of the \tlembcr in Company pn1pert) rursuant tn l.ftC. Sec tion
                                       or
7.>6(b)( I). includ ing. the interest such :Vkmbl'r in Com pany g.ood\\ ill.

      U.5. (.\:nilicalc or Ti:rmin:itinn. l'hi..: l.il1Uidator shal l lilc a Ci.:rti liL'iJk or Term inati on
oru Domestic Ent it: on the completion nf the winding up o f tlh~ Com pan:.
           U. <1. Ri.:i nstah:menl.   Ir the l"l>mpnn~    is tcrrni11aled. It nm~ be rL· in;;;tn tcd in the    m 1111111.· r
pnn' idl..'d in the Ct)dc.

                                               ARTICLE XIV
                                                    VA l XATlO~

           1-1. 1. Fair Value ur Company Proper!\. lhe Fair Value nr propt'rl> 1:on1ributed tn the
cl))11pan: b) a iVk mhcr ns pnrt oC sud1 \tknibcr·s Initial Capiwl Contribution is the UlllOllllt or
'\UL' h ivkrnb1.·r":-. Init ial Capital Conlributil.lll. ns s t'! lcH"th on Exh ibi t. \ . minu:-; the amount l) r an)
         1

L'ash cD11trihuk·d w the Ct1mpa11y as pnrt nr such \tlcmbcr"s Initial Cwital Contribution . 111 nil

                                                                                                            E"\1111111 ,.\
                                                                                                    ll 'flX l~h2   ~   I.! .21111

                                                                                                                                    MR.505
nlh1.·r casl.'s. !hi.' fai1· Va lue of an nssct as or nny dntt> is its fa ir 11'arkct \'alue as dcll.!rmincd by the
ivlnnagcr-; in goml foith using nn) reasonabk \'aluaLinn method. Ir any aftccted \-km her dnes nol
H!.!.rcc \\ilh the \aluation sd b\. th..: Mamrners. the Fnir Vnlue shall bt: determined usinu
 ~                                                         ~                                                               ~

pweedures similar lo those set ronh in Sed ion 14.2. and the cost or any such dt:lcrminalion shal l
he hnrnc cntlrdy by the affec ted Member unless the Managers or :1 majority in i1itcres1 or nl l
\ikmbcrs 01h1:r than the al"l\:ctellbrn it lo the Compnny n notice or
ohjectil)n ,,·ithin :W tlays or the Member's receipt ur thl'.' \'hall b0 linnl
:inti binding on all rnnccrncd. absent mnni fest errnr.

          (d )      n1c   cnsl   or l.'ill'h   apprni:rnl sha ll be shnrcd cqllloticc. t\ny notice. rt'pml. or l>Lhcr com111u11icritio11 required or permitted to he
madl' l1i an: person by this r\ g rL'C111('11I ::.hnll hl" in \\riling u11d i-; dccml'd gi,·cn \\'ht:n
(a) dl'li\l'rd to the p1..·rslltl hy hand. (b) lhL' 1hird business day allcr deli\ cry lo thc l.'ni!cd States
Postal Sen·ici: (or other designati.::d dcl i,·cr: scn·icc as dclincd in l.ftC. Section 7502(1)). postage
prt'paid. in an ~nvclopc properly addressed to the person l'll th~ person·_., address set 1·orlh in the
Co~npany ·s rL'COn.ls as ur the date llr th:li\er!. or (t) SUL'.CL'Ss!'ully transmillcd b: focsimik or
ekctronic mt::ssagc In I he focsi m ik phrn1l.' number or e-mail address (as uppl icnblc) set forth in
the (\1mpnny\ records as or the d~tLL' Ill' transmission . /\ny Ctn11mu11icmion l<) th~ Manager., or
tile Company may be dc li n:n:d ll) 1hc Company"s registl'rt:u olfo.~c designated purs~mnl to
Section 2.3.

                                                                                                        F. \1111111    ,\
                                                                                               I l'C1:-i-l~1 ! ! I ! 201 I

                                                                                                                             MR.507
          15.3. (ion:rnin~'; (\111scnl to .luriscliction. This /\g.rccmc11L is gowrncd by nnd
shnl I hc tunstrued under the l:d usivc stnlen1ent or the agreement he tween the parties \\ ith        1\~spect ln   its subjL'cl mnltcr.

        l :'di. Sm:ccssurs nnd Assign~. ~o Member · to upprovc. c:onsenL
or agree to the substanli\'e terms of nny rtgrccmcnl or other document on bcha lI' or such Member.

        (c)   The po,\·er of nttorney granted pursuant to thi s Section 15.12 \i) is a spec ial po\\'cr
of atlorney coupled \\ith un interest and is irrevocabk, and (ii ) smvives the \\'ithdrawa l or
remova l ora Member or the assig.nm~ut of· its Membership Interest.

                !Thi~   Page ln tcntiouaUy Left Blank. Signature Page Follows.I

                                                                                                    f'..\ llllH r A
                                                                                          11 ,'() ~~ ~v!  !!12, 21) I~

                                                                                                                         MR.509
I~ :\('Ctttcd as nl" the Hlix:ti\'c Date set forth abm L>. by [Ind umong the p1..'rsons signing

                                               M ;m: r-.r1nrrrn.:cl1. an indi\·idual

                                                                 /
                                               1\ntonio 1\lbanesc. an individual

                                                                                                EX ll llll I ,.\
                                                                                       I 150X.ll11 Z l   I~   1011

                                                                                                                     MR.510
                                                      EXHIBIT A

                                      Effccti\'e ;\s of September J8 1 2D IJ

                                                      Number of
MEMBl<:I~      NAME AND ADDllESS                                       Initial Capital Contribution
                                                        Units

TXC Energy LLC
560 I Preakness Ln                                         300                   $300.00
Plano. l'cxas 75093

Marc ~larrocco
3602 Bink ley Avc                                          JOO                   $300.00
Da ll a~. Texas 75205

Antonio Albanese
6605 Gentle Wind Ln
                                                           300                   $300.0IJ
Da llas. Texas 75248

CO~ll'."' A GHl.: l-'.\H.:-.1 01· Ct:\I ~ IHO\ Luc 1 -. nc~ LLC                                        E .\ 1 111111 A
                                                                                            I J 51J~ ~lh ! l · I ~ ·! o 14

                                                                                                                             MR.511
                                  COMPAJ\Y AGREEMENT
                                          OF
                                CENTURION LOGISTICS I.LC'

                                            EXl-IIUIT B

                            SPOCSAL .JOll\l>ER A'.'11> CONSENT

I 1\CKl\OWl.EDGE (il TllAT J !!AVE Rl:AD ll!E FORECJOll'\G COiVIJ>A:\Y AGRJ:l ~ :-VIEN.I
OF CENTl: RJON I .OCilSTICS LLC (THE ··AGREEMENT'). (ii) Fl :1.1 . Y CNDERSTJ\ND ITS
CONTENTS, AND (i ii ) I ll AV L: BEEN GIV EN T llE OPPORTUNITY TO ASK QUFSTIO\JS
i\1\D ro SF l: K !\ND OBTA IN Tiii'. ADV ICE OF LEGAL COl)NSEL CO\JCERNING MY
RIG! ITS. AND Tl II-: l.IMI l'ATIO\JS ON ll IOSI·: RICJI ITS. THAT 1\RE CON TAIN l:D IN
Tl IL ACl!U:EMENT. I agrcL' tu be bound by all of tht: tcm1s or the i\grcclllent. including.
without limi tation. the provisions  or
                                     S~:ction I0.8. I am a\\:trc thnl, by the J'>ro,·isions  the        or
/\grcement. my spouse agrees to hold his or her Membership Int erest (as such lcrm is ddint:d in
lhc /\gn:emenl) including any portion of such Mcmbershi p 1ntcrcst comprising my rnmmuni Ly
property. subject to the spcci lic reslridions nn the Lransrcr or such Membership lnt~rcsts Sl'l forth
in the Agreement. I agree that I will not make any lrunsfcr of. or Dth1:nvise deal \\'ilh. such
Membership lnll:n:st or 111) communi(y property interest th~rci11 , ir any, during my liletime
exc...:pt as expressly pl'nnincd by lhc 1\grt:einent. As provided in Section I0.8 of the Agreement .
I agree that. in lhc event or my dcnth. any lvkmbership Interest that constitutes my rnmmuni ty
property slw\tld pass lo my spouse. and I agree to \viii anti bequeath my entire community
property intcn.'::;\. il"nny, in -;uch Membership Interest to 111) spousl'.

                                               Printed \!amc : _ _ _ _ _ _ _ __ __ __

                                               l);ne: - - --    - - - - - - - -- - - --

                                                                                                   EXllllll I B
                                                                                       11 511~   l !\1 :'. :> I ! 2111 1

                                                                                                                           MR.512
                                                COMPANY AGREE~IENT
                                                       Of
                                             CENTt:IHON LOGISTICS LLC

                                                         APPENDIX A

         /\.I      l11troductio11. This AppL'ndix sets forth principks under wh ich items ot' inL·omc.
gain. loss. deduction and credil shall be al located among the !\tkmhcrs. Th is Appendi x also
prn,·idcs li.>r 1he ch:term ination and maintc.·nam:c of Cn piLal Accou nts. generally in acco rdance
                                                                                                or
with TrcaSlll') Rcgulali<.lllS prnmulg,atcd umlcr l. R.C. Sel.:l ion 704(b). for purposes dctcnnining
su<:h allocl'I Value ol' nn as-;d ha-; b-:cn determined or <\djustcd pursu<1nt 10
'\ubparng,rnphs(i). (ii) or (i\') of th is deli11itio11. thc assct·s Ciross Asset Va lue shall 1hcrraf'ter hr
~1djt1'\tcd b) the L>eprccintion lakrn into un:ounl \\'ilh respect In such assel ror purposes ur
computing Net Profit and Net Lnss.

        ··~el l'ruli(. and ··:-.Jct Luss'· 1rn:.'rolil or Net Lnss. slw II be sub!rm:kd from such taxable incoml.' nr loss.

               (iii)   Ir the Gross Asset Value of any Company asset is adjusted pursuant to
        subparagraph ( ii) or (iii) of the Section A.~ definition of Gross Asset Value. lhe amount
        of such adjustment shall be takl'.'n into m:counL ;1s gain or loss from disposition or thi.: asset
        for purposes or computing Net Profit and Net Loss_

                   {iv)    Gni11 or loss resulting from any disposition or C:nmpany properly \\'ith
        rt:$pect to "hich gain or loss is recog11i1.ed for lc r sue h
        property differs from its Gross 1\ss~l Value.

                   (\')     In liL:li   1,f th\: depreciation, amorli1atio11, and other cost rcCO\l'r)
        dcductinns taken into t1<.:cou11t in computing such tnxnbk income or loss. there shall he
        wkcn into uccount lkpn:ciatiun computed in nccordnncl:' with the definition or
        [)~precia1io11 in Section A.2.

                (,.i )  To lhc cxtL·nt tin adjustment to the adjusteu tnx hnsi s of n11) Comp:111)
        asset pmsuall\ to I. R.C. Section 734( h) is n:qui red pursuant to Treasury lkg.ulations
        Section I .704-l(b){2){i\·)(111J(./J Lo be taken inlo account in tl<.:tcrmining Capi1a l 1\<.:cuu11ts
        as n result or a distribution othL·r thnn in liquidation or a Member"s ~ l e111bernhip Interest.
        the amt)lllll of such mljusunrnt sha ll be lrL'atc:d us nn item tl l. gain tir the adjui:.tmcnl
        intreascs the h<1sis or the U..'>SCL) or Joss (if the adjusl111Cllt dccrca:-;cs thc basis of thl' asset)
        from till' disposi tion of the :\'iSel nnd sh:ill he takl.'n into account !'nr purposes ol'
        computing Net Profit nr >Jct l .oss .

        .. Nonrl.'coursl.' Deductions·- has the 111eu11i11g. set l'urth in I rcasury Regubtfons Section
I .704-2{b)( I) and shall he dctennincJ i.'lcrording lO the prO\ i~ion::- or Trcasur~ Rcgulatinn'
Section 1.70-i-2(<.:).

            ··Nonrccuurse Liabilit\ .. has the   lllL'~ning.   set forth in   rn.~asur)   Rcgul R..:gulatinns S\..'ction
I. 7U.+-2( b )( .+ ).

       -·Partner Norm.'ClHlfSC Debt Minimum Gai n"" has the ll1l.:aning S1.' t forth in rn.:asury
Regulations Sect ion l.70.+-2(i )(2) and shall be dderm incd in accordam:I.' \\ith Treasury
Regulations Seel ion I. 70-l-2( i )( 3 ).

        ··Partner t'\rnwi.:i:oursc l)cduq ion{· hns the meaning set forth in Treasury Regulations
Sect inn I.70-l-2(i )(I) and shall be detcnnined in uccordam:c with l"n:asur> Regulations Section
I .704-2(i)( 2).

           ··J>mtm:rshig Minimum Uain·· ha:-; the rm:aning se t tt1rlh in J"n.·asur) Regulations Section
l. 704-2( b)( 2) nnd shall be ddermined in m:cordance \Yi th     lren s ur~ Regulations Section I. 70.+-
2( d ).

         !\ ,J  Capitnl t}ccounls. The Company shall determine and maintain Capital t\ci:ounts.
··Cripitnl Account"' mean s an account of each Mcmber determined and maintai ned throughout the
full term 111" I.he Co111pany in aci:ordan<.:c \\ ith lhc ca piLal accounting rules of fn:asury
Regulations Section 1.704-l(h)(2)(iy). Wi thout limit ing the gcnl..'rality or the fnrt:goi ng. thl'
IOllmYing. rules apply:

        (a)     T he Capital Account or each ivkmhcr shall be tn:ditcd \\i th (i) an amnunt equal
Ln such f\kmbcr ·s Capital Contributions and the Fair Value of propcny contributed (il"perm ittcd
hereunder) lo tile Cnmptrn) by such ~lc m hcr. (ii) such Member's share ol' th() Cornp;my.. s >Jct
Profit. and (iii ) the amount nf any Cumpany liabilities nssumc.:d b~ such Member or tlmt arc
seturcd by propcrl) distributt?d to sut h :Vkmbt>r.

        (b )    !'he Cnpitnl ;\crnunt ur each Member shall be debited by ( i ) the umounl ol" cnsh
and the Fair VJet 1.oss. ond (iii) the amoun t nf any liabili ties or such Mcmhl.'r assuml.'d h~· the-
( \)lnpany or thnt nre see med by nny propl.'rt y conlribult>d by such Member to the Compan) .

           (<.:)    l lp~in the lransf"cr b) a ivh.:111hcr {lf all or part or nn i11krest in the Company alkr
the                        the Capital 1\CCOlllll or th<.: trnnslcror thm is allrihutahlc lO lhe trnnslcrred
      l ~ fli:c l i\e l);ih.' .
i11tcr1.·st cnrrie~ (lW r lo 1111: trnnsfcrce and lhe Capital l\ l'counls 1il" the ;-..,fi:111hcr.s shal l be adjusted
tli the e:r ck:<.:! i\'C la:-. lrcmmcnl or such items at the \.kmbcr k\·d.

           {I)     rhc pru\'isiuns l)f this .'\ppcndi:x and or the Agrl!~rnen t n:lating In thl! mai11tc1U11H.:e
o !" C'npi tai Accounts are intended to tom ply with Trc<)Sliry Rcgu lat ions Sect inn l. 704-1 ( b )( 2 )( i\· ).
nnd slwl I be interpreted and '1pp1ied in n mnnncr consistent \\jlh srn.:h rrcnsury Regulposcd Treasury Regulations published nn January 22.
2003 168 Fed. Reg. 2930}, as thl'y may subsequent!) he mod ilic. Company Ne! Profit and Net Loss shall bt:
<1llt1L·:1lL'd to lht: Member~ as follows:

          (a)     Nd Prolit. \kt Prnlil for an~ pl..'riml (c:-:cluding lax ill'ms allocated pursuant to
Section~    J\A.2 and 1\.-U) shnll he allm::atC'd ns f(.1llows:

                    (i)           Nc:t Profit ~hull l)L• nlkH.:atl'd lo th~· l\ll'mhcrs ll) thl' l'\lcnt or ittld in
                              Fir~l.
          proportion ln the l'Xl'L'SS, ii' nny. or (i) the l:llllllllati\C \kt Loss ;1llocatcd pursuant I t>
          Section t\A . I (b} 1·(1r oll prior periods. m"i.:r (ii l lhL· ru111ul:itiw N1.'t Profit :illocatl'll
          pursuant Lu !his Seclion A-Ll(n) l'nr all prior periods.

                 (ii)   Second. any remaining. 1\et l'rl.l lii -;hnll b1.· allocated        lll   the i'v kmhcrs pro
          rnw in nccordancc with their respceii' t? Percen tage Int1.'rcsls.

       (b)      Net l.oss. Net Loss ror an) period (c\clt1di11g               1ax   items allocated pursuant        lo
Sectinns :\ .·U aml t\.4 ..1) sh ~dl be :1110<.:a tcd as folio\\~:

                   (i}     !'ct Loss shall be alloeatcd tn the \kmbcrs pro rata in accurdnncc \\ilh
          tht:ir respcdi\t: Pt:n:t:ntagc Interests. s uhje-:t tu the limitution in Si.:ctinn 1\.4. l (b)(iil.
C0\11' \ \ \ Ac; 1u :o1•,\ I CH Cl.\ I l IUO\ L0<;1, I II''-   Ll.C
                                                               P \(; I. A-5

                                                                                                                         MR.517
                 (iiJ     No Mcrnhcr 11l tl~ rccc1,·c nn allocntion or Ne1 Loss that would criusc ·tl1L·
         \ti ember lo lul\'e an /\djuskd Capi tal Accoun t Delicil at the cm! nr the la:->ahk year. N~t
        Loss not allocated to a .v kmbcr pursuant to this subparagraph I ii) shall he allocated to
        other Members aceL)l"ding to tht:-i r relative positi\·c Capil!ll A<.:n)Unl balances (rnlcu latcd
        taking into account the adjustments described in the- dclinititlll or Adjusted Cnpitnl
        Account Dcli-.:it).

        /\.4.2 Regulatory Allocations. Thl' rollo\\ing Sj)L'Cial allocations shnll be applied in lhc
order in \Vhich they arc listed. Such ordering is intended to comply with the ordering rules in
Treasury Regulations Section l. 704-2(j) and shall be applied consistently thercwi th.

        (a)      tvli11imum Gain Chnrucback.             b:ccpt as otherwise provided in rn:asur:-
Rcgulations Section l.704·2tl). notwithstanding anything to the contrnry in th is Section t\A . il'
lhlTC is n nd decrease in Pn11nership M inimum Gain during any taxable ycm. em.:h ivkmbcr shall
be alk)calctl items ol'incomc <111d gn in l(ir that ta:-;nble yem (an tht: amounts. ii' any. allocated pursuJonrccoursc Debt Mini1m11n Gain (determined in
accordance with l'reasury Regulations Section I .70-1-2(i)(5)) as             or    the beginning of the taxable
) 1.:ar shall he allocated items      or      Con1pany illt(l!l)e and gain for that ln;.;ahlc year (nnd. it'
nctcssary . for subsequent laxnhlc) cars) cqllal to that Member's share of lhc nd dc<:rcasc in the
Partner >Jonn:c.:ourst' J>cbt i'vlinimum (iain, ddl.!rmined in acconl ancc \\:ith rrcasury Rcgulut i ons
Section l.70-l-2(i)(4). lhis Section 1\.4 .2(b) is inli:ndcd to compl) w ith the chnrgcbnck                      nr
partner llC>lll\~l'Olll'Se debt minimum gain rt•qui rcd b) lr<:ast11') l{egul), items of Coinpan: inrnmc and gain shall be special!: nllocatc:d to sul'l1 Member in nn
amount and manner ~unicicnt to l!liminatc. Lo th..: extent r-:quircJ by the Treitsm:- RegulatiL111s.
Lhc Adjw;ted Capital /\t:coun t !)elicit or such ~·lemhcr us quid ly as pn.ssihk'. An allornt ion
pursumil to the forego ing senh:nce shal I be made Mly l o tht: extent that such \'1cmbcr '' tHtld

Cllc h basis) and such gain or loss shall bt: spet iall) all'> . or dt:dw:tion pursu<111t to this Section ;\.-Ll.                         I hi: n:li.ll'l\
110L\\'iths1nndi11g nn) nth<.: r pro,·isions tir thi .:; Section 1\A (other thun the Reg.ululLH) r\llocntions).
the \,tanagers shnll make suc h orlselli ng specia l ntl()Cntions or C o11 1ptt11) inrnmc. gain. k>ss. or
deduction in \\hale\l.'r mann~r the ivla11:1gcrs dctcnnint· appl'opriate so lhat, nlkr such nl"fset ting
al lrn.:alions arc made. l.'ach i\.km bcr"s Cnpi tnl Accoun t balance is. lo the c:-;tcnl possible. L'qual ln
Lhl· Capital 1\ccounl balance such l'·kmbt: r \\(Hild hn' e had if the Re~ula tury .'\llticaliuns \\erl'
not part o!' the 1\grecnw11t and all Company ilt:m$ w~rc allocated pursuant lo Sec ti on 1\ .-L l. 111
exercising their di scretion 1111dcr this Section 1\AJ. the :-Vhrno~ers sha ll tnkc into ncrnu11 t l'ttlllrl'
 Regulator;.- 1\llncf\tin11s under Scl:li D11s r\ .-L2(a) and 1\.4.2(h) tlml. although not ~cl mad..:. nre

C0 \11' ' ' ' A<.IU:l"\11 ."\I orCt"\ll IU()"\ l.0<. 1'-ll<'S 1.1.C
                                                              l'\1:1   ,\-7

                                                                                                                               MR.519
Ii ki:I) to n ffs1:.•t other RL'gu latory ,\I lrn:atinns prL'\'iousl) madl' umkr Sections ;\ A.2k l •llld
i\.·L::!( I).

           :\AA Other Allocation Rult:s

         (a)   Net Profit. >kt I.nss. nnd nlht:r ill'J\ls shall bl' ~1 1l ntatcd Lo thl? :vtcmbcrs pursuant
to thi s Appcndi :-.: A as nf the last (.hl) or each taxabk year, and 1\1 su<.:h times ns the Gros-; Asset
Values orCompany Properly :trt' adjusted pttrsunnt to subparagraph (ii ) of the dclini tion o r Gross
Asset Va lue.

       (b)     Ir during any taxable year any tvfombl'r. s P~ n.:cntage Intercst changes. cnch
Member· s share or Net Prolil. Nl.'t Loss. and other irems !Or such taxahk year shnl I he
determined according Lo thc i1· varying intcn:sts c1 nd l.R .C. Section 706(tl). using any conven tions
permitted by law and sckcli.:d by the Manag1..·rs.

         {c)    All a llm:alions pursunn l LO th is Appi.:nd ix shall. except as otherwise provided in
th is ;\grccmcnt. be d ivided among the Mcn1bers in proportion tu the Percentage lntcrcsL-; held b;-
each.

          (d)        For p urpo~es ot' determining a ;-.,,\cmht:r's share ol'Com pany ··exec~:; nonrceomsi:
li nbilitit·s·· \\i lhin the meaning o r l'rL':lSll r} Rc-gulations Section l.752-J(a)(J). the Mi:rnbcrs·
shares () r Company profi ts shall he deemed to be in proportion to their respcct i\'c Pcr<:t'1Hage
l meresL-;.

         (e)       I o lhc c.\lcnl perm itted b: Trcusur) Regu lations Sec tion 1.70..i-l(h)(J}. the
\ilanng.crs lll:l)' treat any distribution or th!.! pro...:ccus or a l\onrccoursc I .iabilily or a l'ari 11i.:r
Nonn..·coursc Di.:ht (that wou ld otherwise be allocable to an increase i11 Pnrtncrsh ip Mi nimum
(iain} as a distribu tion thn t is not allm:ahle lo artncrship Mini mum Gflill lo the
e.\ tcnt the Jistribuliun uocs IH'.ll cause or incrl.'usc an ;\djusletl Capital Account IJd icil fo r an:
Member.

           r\.5       Tax ,\ llocntiuns

          (a)     In General. r7 xcept :'IS other\\'isc provided in this Section /\.). each ikm \\f
innHnc. gain. loss. and dcdlll:tion ul' the Cn111 pu11y fo r klkra l im:\)1111? tax purposes sha ll b1:
 .1\ppl•11di:\ .

         (b)     Con tributed or Re,·11lucd Prnpcrl\' . In aLTtmlant:c with l.ltC. Sl'l'tion 70-1-(c) and
the rela ted Trensury Regu lation.-;. ineomc. ga in. lo:;s. :md 1.h:ducti()n \ri th respect to an> pn)pC:rt>
rnntri butcd to the eapital or the Cnmpany shall. ::;olcly f'or lH'\ purposes. be allot.:atcd amon~ till'
Mernb1..•rs so as to takt.: a cl'Olllll ur any \'id.

        Mr. Calce is an Indemnified Person under the Agreement. See Ex. A § 1.1. Moreover,
the Lawsuit constitutes a Proceeding under the Agreement. See id. Centurion Logistics is
therefore required to reimburse Mr. Calce the expenses he pays or incurs in defending himself in
the Lawsuit, including attorneys’ fees, as such expenses are paid or incurred.

        As of July 31, 2017, Mr. Calce had been billed a total of $114,440.99 in expenses related
to his defense of the Lawsuit. Mr. Calce hereby demands that, on or before August 28, 2017,
Centurion Logistics (1) reimburse him the full amount of expenses that he has been invoiced
($114,440.99) plus an additional $50,000 that will be applied to future expenses as they are
incurred; and (2) agree to reimburse Mr. Calce the additional expenses, in excess of the

9253092.2/SP/38371/0105/082217

                                                                                                    MR.526
additional $50,000 referenced above, that he pays or incurs in his defense of the Lawsuit as such
expenses are paid or incurred.

        Pursuant 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. 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.

         If you would like to discuss this matter further, please do not hesitate to contact me.

                                                       Sincerely,

                                                       Chase J. Potter

9253092.2/SP/38371/0105/082217

                                                                                                        MR.527

    ([KLELW³)´

                   MR.528
                                                                                         
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         prov11I.

   •   Compnny will perfonn 1111 inlraplnnl switching nt the Fncility.

   •   Based on Company 's conceptual plan dnted April 17th, 20I 11, only unit train service is npproved
       al the Facility.

   •   Compa11y will ensure that nll outbow1d railc11rs <1rc coupled with air hoses laced.

   •   Company shall assemble each u11'i t lrain on its track B (based on Company's conceptual pion
       dated April 17th, 2014 ), in ifs cnl ircty nnd ready for departure.

  •    ltHcrior switches must be lined for nrriv<1I ofinhoond train when n \111it train arrival is cxpectixl.

                                                                                                                   MR.533
                                                                                 BALLENGEE00000408
                                                                                           Centurion L.ogfslics
                                                                                                     Pecos.TX
                                                                                                     6112/2014

   •   The Fncility must have sufficient ca1mcity to chamber full unit trains, accotnmodatcsput on
       arrival, and ullow lrains to clear tllu main line without the train crew stopping lo line switches.
       Maximum unit train size to be dictc:rmlncd by UP's Customer Service Profile (CSP) process.

   •   'l'he Facility as rcnected in Company's couceptllnl plan dated Aptil I 7th, 2014, will acco111111od11tc
       inbound nnd 0111bo1111d 011erntio111s coming from nnd going lo the cost of the facility. If Con\pany
       desires lrnin operntions from ori:~ins west of the foci lily, Industry nn1s1 bear all cos1s of installing
       o. west facing connection with power switches ond power derails.

Once Company has satisfied the aforementioned terms and conditions, the next steps in UP's
track authorization process ate as follows:
    1.     Company must prepare tho Facility's Switch Location Plan (30% drawing) and
           submit to UP via the En!Jlneering Document Exchange (web application) to initiate
           UP's design of the signal system associated with Company's project.
    2.     Company will work with its UP Marketing and Sales ropresentatlve to prepare a
           Customer SeNice Plan, ilf applicable. and determine the rail service Company would
           receive and the corresponding rates. Additionally. the UP Marketing and Sales
           representative will coordinate with other UP departments to determine any other
           requirements necessary for UP to provide service to Customer.
    3.     Company m11st prepare the Facility's track design/construction drawings and submit
           them to UP via the Engineering Document Exchange (web application) for approval.
    4.     Company must execute an Industrial Track Agreement with UP.

UP shall only authorize construction of the industry track upon the execution of a Industrial
Track Agreement.

UP shaU keep confidenllal all design/construcllon drawings, plans and other materials related to
the new or expanded Facility that Coompany gives UP during the track construction process.

Union Pacific's offer of conditional acceptance shall expire if Company does not execute and
return this MOU to Shanker Chalek,ode at Union Pacific Company, 1212 Corporate Drive, Ste
300, lrvlng,TX 75038, within 90 days from the date of this MOU.

Once executed, thi$ MOU shall terminate twelve (12) months after execution unless Company
has requested an extension of the MOU. The extension must be requested in writing and
approved by Union Pacific.

Company understands that Unlom Pacific will not authorize construction of the planned
Industry tracks until the entire track authorization process Is complete. Company
understands that at no time prior to authorization of track construction Is UP agreeing to
provide rail service at Facility. Fu1rther1 Company un derstands that Union Pacific wlll not
operate on industry owned tracks until UP has approved the Facility track
designfconstrocUon drawings and Company has fully executed an Industrial Track
Agreement with Un1on Pacific. Additionally, Company understands that all of UPjs
approvals and authorizations ate based on Company's representation of particular
volumes and commodities that will be shipped to and/or from the Facility. Any changes
in volumes or commodities may change UP's requirements to provide service to tho
Facility. Consequently, If volumes or commodities change after rail service has beguh,

                                                                                                                   MR.534
                                                                        BALLENGEE00000408.02
                                                                   Centurion Logistics
                                                                            Pec:os,TX
                                                                            6/12/2014

UP may not be able to meet C()mpany's expectation for increased or additional rail
service without Company making modifications to the Infrastructure or constructing
additional Infrastructure,

ACKNOWLEDGEMENT: I HAVE RE:AO AND UNDERSTAND UP' S REQUIREMENTS FOR
NEW SERVICE AS SET FORTH AE~OVE:

Union Pacific Railroad Company

Sy:~-"­
Printed Name:  :Bt.:L f

                                                                                         MR.535
                                                   BALLENGEE00000408.03
                                                                  Conturron Logistics
                                                                           Pecos.TX
                                                                          6/12/20 14

                               UNION PACIFIC RAIL ACCESS
                            Track Construction Project Contacts

 Prepared for: Centurion Logistics;
 Track Construction Project Location: Pecos, TX 6112/14

Marketing and Sales Representative
Shanker Chalekode
Business Director
1212 Corporate Dr. STE 300 Irving.TX 75038
402-871-9164
Fax: 402-997-4947
skchalok@up.com

Manager of Industry & Public Projects
Steven W. Martchenke
101 S Walson Rd, Arlington.TX 76010
817-353· 7625
402-501-2616
swmartch@up.com

Regional Manager Industrial Development
Aaron Drown
 Rogional Industrial Development Manager
 1212 Corporate Dr. Ste 300, Irving, TX 75038
'169 262 7059
'102 233 3453
akbrown@up.com

Track Agreoment Contact
Tammy Anderson
Sr Mgr Industry Track Construction
1400 Douglas St Stop 1350, Omaha, NE 68179
402 544 2305
402 233 2187
tlanderson@up.com

                                                                                        MR.536
                                                           BALLENGEE00000408.04

    ([KLELW³+´

                   MR.537
This is a legally binding co11trnct. if not underslnod, cnnsul1   !ill attt.imey.

                       C OMMERC I AL REAL E ST AT E SALE C ONTRACT

     1.   PARTIES: This contract ("Contract") is made by and between MONTANE
INDUSTRIES, LLC. SELLER, and CENTURION LOG ISTICS, LLC. or assigns, BUYER.
The "Effective Date"' of this Contract shall be the date the Escrow Agent acknowledges, in vvriting,
receipt of the Earnest Money.

        2.      PROPERTY: Sell et ag!'ees to sel I to Buyer and Buyer agrees to purchase the
fo llowing described real estate locat1ed in AB 5609, BLK 4, SEC 76, H&GNNW/4 & PT SW/4,
together with any improvements thereon containing approximately I &3.400 acres of land, Reeves
County, State of Texas, as depicted on Exhibit "A", ("Site Plan"), attached hereto. Such real estate
and other property shall be col lectively referred to in this Contract as the "Property". The exact
size and legal description shall be determined after a survey and prior to Closing. The cost oflhe
survey shalt be bom e by Seller.

       3.      EXCEPTIONS: The Property shall be subject to the Pennitled Exceptions (as
defined in paragraph 9 of this Contract), zon ing ordinances and laws and the following: Nothi ng
add itionaJ.

        4.      PURCHASE PRICE:: The "Purchase Price" shall be One Million, Five Hundred
Thousand N0/ 100 DolJars ($1,500,000.00) which Buyer agrees to pay as fo llows: within ten (10)
days after this Contract is last executed, Twenty Thousand Dollars and N0/100 ($20,000.00) as
" Eamest Money" which is to be deposited in the insured trust or escrow account at Chicago Title
Insurance Company, 2828 Routh Street, Suite 800, Dallas, Texas 7520 I, Attn: Michael R. Haas
(''Escrow Agentt') as part of the consideration of the sale~ the balance of the Purchase Price to be
paid at Closing in immed iately available fu11ds.

         5.     INDEPENDENT CONTRACT CONSIDERATION: C011temporaneously with
the ft nal execution and delivery of this Contract, Buyer shall deliver to Seller and Seller hereby
acknowledges the receipt of a check in the amount of One Hundred and NOil 00 Doi lars ($100.00),
which amount the parties bargained for and agreed to as consideration for Seller's grant to Buyer
of Buyer's excl usive right to purchase the Property pursuant to the terms hereof and for Seller's
execution, delivery and performance of th is Contract. Such consideration is in addition to and
independent of any other consideration or payment provided in this Contract~ is non-refundable
under any circumstances, and sha ll be retained by Seller notwithstanding any other provisions of
this Contract

        6.        CLOSlNG DATE: Su~ject to all t he provisions of this Contract, the closing of
th is Contract (''Closing") shall take p lace at the offices of the Escrow Agent within lhirty (30) days
after satisfaction of a ll contingencies. herein stipu lated. Tenant-free possession shall be delivered
at Closing. Closing is contingent on H valid Memorandum of Understanding (''MOU'') from Union
Pacific Rail road.

COITT18'cili RE!fi ESaeContrad-Mon\<11elndustries. LLC, ReevesCoonty
                                                                      1

                                                                                                           MR.538
                                                                                    BALLENGEE00000272
       7.      EXISTING FI NANCI NG: Unless otherwise provided in this Contract, Seller
shall make any payments required or1 existing mo1tgages or deeds of trust unril Closing and upon
Closing all such debts upon the Prop•erty shall be discharged from Seller's proceeds.

        8.     PRO RA TIO NS: The rents, income and expenses from the Property shall be
prorated between Seller and Buyer as of Closing, Seller shaJI pay, in full, all tax liens, special
assessments, and material and/or workman liens against the Property upon the date of Closing,
whether or not any such liens or special assessments are payable in installments. The general ad
valorem taxes becoming due and accruing duri ng the calendar year of Closing shall be prorated
between Seller and Buyer on the basis of such calendar year, as of Closing. If the amount of the
general ad valorem tax cannot be atscertained at Closing, proJation shall be computed on the
amount for the preceding year's gene:ral ad valorem tax. If it is determined by Buyer, either prior
to Closing or subsequent to Closing, ithat a subsequent change in the use of the Property may resu lt
in the imposition of an additional rax ("Rollback Taxes"), Seller hereby agrees that:

         (i)       If such detennination is made prior to Closing, Seller shall deposit at Closing with
                   the Title Company an amount sufficient to pay one hundred percent ( l 00%) of all
                   estimated Rollback T:axes, together with penalties and interest, in order to satisfy
                   all applicable taxing authorities for both the Property and any contiguous property
                   owned by Seller; or

         (ii)      If such detennination is made after Closing, then any Rollback Taxes plus penalties
                   and interest for both the Property and any contiguous property ovmed by Seller
                   shall be paid by Seller- to Buyer within fifteen (15) days of recd pt by SeJler of a
                   statement for the Rollback Taxes.

Buyer shall obtain from the tax appraisal district established for the county in which the Property
is located the amount of all Rollback Taxes. together with any penalties and interest Ifthe amount
of Rollback Taxes has not yet been determined by the appl icable tax appraisal district, then Buyer
agrees to obtain from a tax service pt~ovider a calculation and furnish said calculation to the Seller,
which calculation shall be used for purposes of establishing the escrow with the Title Company or
making the payment to Buyer. In the event any of such calculations are found to be erroneous
after Seller has made the payment re:quired hereunder, then either party hereto who is entitled to
such rei mbursement or additional payment shall invoice the other party and such amount shall be
paid within fifteen (15) days of receiipt of a statement evidencing such corrected amount. These
covenants shall not merge with the Deed to be delivered from Seller to Buyer and shall survive the
Closing.

        9.      T ITLE I NSURANCE: Seller shall deliver and pay for an owner's ALTA title
insurance policy insuring marketable fee simple title in Buyer in the arnount of the Purchase Price
as of the time and date of recordatiion of Seller1s General Warranty Deed, subject only to the
Pennitted Exceptions defined below. Seller shall, as soon as possible a11d not later than thirty (30)
days after the Effective Date of this Contract, cause to be furnished to Buyer a current commitment
to issue the policy (the "Title Commitment")_. issued through Chicago T itlE' Insurance Company
("Title Company"). Buyer shall hav,e thirty (30) days after receipt of the Title Commitment (the
"Review Period") in which to notify Seller in writing of any objections Buyer has to any matters
shown or referred to in the Title Commitment. Any matters which are set forth in the Title

Corrirre-dal Rea ESae Contra::! - Montaie l~ries, LLC, Reeves Crney's fees, court costs and other legal expenses incurTed by
the Escrow Agent in connection with such dispute shall be reimbursed from the Earnest Money or
from other funds deposited with the Escrow Agent.

        19.     ENTIRE AGREEMENT AND MANNER OF MODIFICATION: This
Contract. and any attachments or addendum hereto, constitutes the complete agreement of the
parties concerning the Property. and ~:upersedes all other agreements and may be modified only by
both parties initialing changes in this Contract or by written agreement.

       20.     NOTICES: All notiices requi red under this Contra::t sh~I bed~ to be
properly served if rerluca:J to writing ood SErlt by (j) certified or registered mal ; (ii) Federal
Express or smiler overnight oourier; (iii) focsimi le tra1smission; or (iv) persona delivery a1d
the dcte of such notire will be deaned to have been the date on which &JCh notire is delivera:I
or attempted to be delivered as shc:mn by the oo-tifioo mal return receipt or a commercia
delivery savire ren>rd, or in the case of fa:simile on the date of receipt of the trcnsmission as
shown on a successful trcnsmission ronfir~ion receipt. All notices shail be Cl:ldres:a:t as
follows, unlessottawi se~fia:I iin writing:

SELLER:                                                              BUYER

MONTANE lNDUSTRIES. LLC                                              CENTURION LOGISTlCS1 LLC,
3939 W. Green Oaks Blvd. #202                                        or Assigns
Arlihf,rton, Texas 76016                                             17950 Preston Road, Suite 1080
Emai I: f.arceneaux@ielpros.com                                      Dallas, Texas 75252
Facsimile No: 817-451-3903

        22.    TIME AND E..XACT PERFORMANCE ARE OF THE ESSENCE UNDER
THfS CONTRACT. Buyer and Seller hereby agree to perform each and every obligation
hereunder in a prompt and timely manner. provided, however, that if the date for the performance
of any action or obligation, or any time period specified hereunder occurs on a Saturday, Sunday
or Un ited States bank holiday, then such date or time period shall be extended until the next
business day.

Commerda Rea E!tes, tenancies, or persons in possession.

        f.     Buyer and or assignee: agree that the property is to be developed into a rail terminal
and rail served industrial park. Buyer and Seller agree to enter into an access agreement (the
"Access Agreement") during th,e inspection period whereby the terms and provisions for Sell er~ s
rights to access the Union Pacific maiin line t hrough the Property will be described. Additionally,
Buyer and Seller agree to enter into an option agreement (the "Option Agreement") during the
inspection period whereby Buyer and Seller will set the tenns for Buyer's right, not obligation, to
acquire Seller's remaining 320 acres tract better described as Section 75, BLK 4, Reeves Councy.
Texas.

Commercial Rea EslaeCo'ltrac:t-Monttsrposes . .,, ................. ,, ...... ,.....                            ~······················· ·· ·················· 6
                                                                         ! ...... , . . . ........... , . , ......... , ..........                            .......

            2.6.        Powers ....................................................................................................................... 6
            2.7.        Con1pany Property ................................................................................................... 6
            2.8.        Consent to Admission of Men1bers ......................................................................... 7
            2.9.        Status of Managers and Metnbers ............................................................................ 7
            2.10.       Certificates of Membership Interests .......................................................................7
            2.11.       No State Law Pat1nership .................... ,..... ,......................... ,. ..................................7

ARTICLE III CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS ...................................... 7
            3.1.        Initial Capital Contributions .................... ................................................................ 7
            3.2.        Additional Capital Contributions ............................................................................. 7
            3.3.,       Capital Accou11ts.,~ .. ,, ....... ,..........,............ ~ ...............,.......... ,..... ,..,.,........... ,................ 7
            3.4.        No Right to Return of or Interest on Capital Account.. ........................................... 7
            3.5.        Me111ber Loans .........................................................................................................8

ARTICLE lV ALLOCATIONS AND DISTRIBUTIONS ............................................................. 8
            4.1 .       Allocation of Profit or Loss ..................................................................................... 8
            4.2.        Distributions of Distributable Cash ......................................................................... &
            4.3'.       WitJ1l1olding ...............................,....,......... ,................................................................ .... ,..... 9
            4.4.        Limitation on Distributions ...................................................................................... 9
            4.5.        No Right to Partition or Distributions in Kind ........................................................9
            4.6.        Recovery of Erroneous Distributions ...................................................................... 9

ARTICLE V MANAGEMENT; ACTIVITIES OF MANAGERS AND MEMBERS .................. 9
            5.1.       Management and Control of Company Business .................................................... 9
            5.2.       Resignation. Removal, and Replacement of Managers ......................................... 10
            5.3.       Actions of the Board of Managers ......................................................................... 11
            5.4.       Limitations on Board of Managers' Authority .., ................................................... 11
            5.5.       Delegation of Authority~ Oflicers .......................................................... ,................ 12
            5.6.       Reliance ................................................................................................................. 13
           5.7.        Compensation and Expenses of Members and Managers ..................................... 13
           5. 8.       Standards of Manager and Member Conduct ........................................................ 13

ARTICLE VI LIABILITY AND INDEMNIFICATION .............................................................. 14

COMPANY AGRlmMENT OF CISNTtlfUON PtC'OS TEltMINAJ, LLC                                                                                                                    PAGE:
6~ 11457. liSP/B03UOIOllll'>l IM

                                                                                                                                                                        MR.548
                 6.1.          Limitation of Li abili ty ........................................................................................... 14
                 6.2.          Indemnifi cation by Company .. ............................ ........ ........ .................................. 14
                 6.3.          Conduct Not Protected .......... ................................................................................. 14
                 6.4.          fnsurance ................................................................................................................ 15
                 6.5.          Survival ................ ... ..... .......... ..................... ............... .... ............. ..... .... ..... .... ......... 15

 ARTICLE VU BOOKS AND RECORDS; RE PORTS ................................................................ 15
      7 . 1. Mai ntenance of and Access to Books and Records ............................................... 15
      7.2.    f'jscal Year .......... .... ... ........... ............... ... ... ............ ....... .... ........................... .......... 15
      7.3.   financial and Operating Reports ........................................................................... 15
      7.4.   'J'ax Reports .................................................. .......................................................... 16
      7.5.   Transmission of Communications ....................... ........ .......................................... 16

 ARTICLE VllJ T fu'< MArrTERS .. ....................... ....................... ........ ............. ......... ..... .............. 16
      8.1. Tax Classification .................................................................................................. 16
      8.2.   Cornpany Returns ., ....... ..... ..... .... ......... .............. ....... ..... ................................... ..... 16
      8.3,   Tax Elections ............................ ....... ................ .......... ..... ......... .... .................. ........ 16
      8.4.   Consistent 'Reporting .............................................................................................. 17
      8.5.   'fax ProceccUngs .................... ..................... ... ........... .... ........ ........................... ....... 17
      8.6.   Information and Documents to Company ...... ...... ........ ...... ......... .... ......... .............. 17
      8.7.   Survival .................................................................................................................. 17

 ARTICLE IX MEETINGS AND VOTING OF MEMBERS ...................................................... 17
                9.1.           Meetings ................................................................................................................. 17
                9.2.          Voti ng ..... ............................................................................................................... 18

ARTfCLE x              TRANSFER or MEMBERSHIP INTERESTS .,....... ........................... .... ............. 18
     l 0.1.             Limitation on Transfers ............... .......... ................. ........... ...... ........... ................... 18
     I 0.2.             Permitted Transfer oCMembership Jnterest.. ......................................................... 18
     L0.3.              Right of First Refusal; Tag-Along Rights; Triggering Events .............................. 19
     I 0.4.             Conditions to Permitted Transfers of Membership lnte1·ests ........... ......... ............. 20
     10.5.              Effective Date~ Distribut ions ............................................. ................... .................2 J
     I0.6.             Transferor's Obli gations ........................................................................................21
     I0.7.             Assignee's Rights and Obligations ........................................................................ 21
                I 0.8. Effect and Consequences of Prohibited Transfer ....................................... ........... 21

ARTICLE xr                    ADMISSION OF NEW MEMBERS ........................ ............................................ 22
     l l . I.                 Substituted Members ............................................................................................. 22
     11.2.                    Additional Members ..............................................................................................22
     11.3.                    No Required Capital Contributions ......................... .................................... .......... 22

ARTJCLE xn WTTUDRA WAL OR REMOVAL or. MEMBERS ............................................~3
     12.1. Withdrawal ofMembers ..... ......... .... ..................................................................... .23
     12.2. Removal of Members .. .... ................... ........ .... ... ..................................................... 23
     12.3. Status or f a whole and not to any particular Article. Section. or other provision hereof;

               (g)     ..including'' (and with its correlative meaning "hlcludc'') mcru1s including without
limiting the generality of any description precedlng such term:

                    (h)          ..or~· is used in the inclusive sense of ·•and/or'";

                 (i)     with respect to the determination of any period or time, ·•from·· means "from and
in.eluding.. and ''to" means "to but excluding"; and

               (j)  references to agreements or other documents refor as wel I to all addenda.       ~xhibits.
schedules. or amendments thereto.

COMPANY AGREEMENT OF CEXntIUON PECOS TlmMINAI. LLC                                                    PAGES
6211457.1/SP/33032/0101/091114

                                                                                                             MR.555
                                               ARTICLE IL
                                        ORGANIZATIONAL MATTERS

         2. t. Fonnation. The Company was formed pursuant to the Certificate of Formation effective
 as of the Formation Date.

         2.2.    Name. The Company's name is as set forth in the Certificate of .Formation. The Board 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
 any such change to all Members. The Company's business may be conducted under its name and/or any
 other name or names deemed advisable by the Board of Managers. The Board of Managers shall cause
 to be executed and filed of record all assumed or fictitious name certificates for the Company as are
 required by law.

          2.3.      Registered Office and Agent: Principal Office.

                    (a)The street address of the inilial l'egistered oftice of the Company in Texas and the
                                                                                         or
name of the initial registered agent of the Company are as set forth in the Certificate Formation. The
Board of Managers may change the Company's registered office or registered agellt at any time by filing
a Chu11ge of Registered Agent and/or Registered Office as provided in the Code. The Board of Managers
shall provide notice of the change to all Members.

               (b)    The addl'ess ()f the principal office of the Company in the United States where
records are to be kept or made available under Section lO 1.501 of the Code shall be as determined by
the Board of Managers. The Board of Managers may change the Company's principal office in the
United States at any time upon notice to the Membel's. The Company sha.11 keep at its registered office
and make available to a Member on reasonable request the street address of the Company's principal
ofl1ce in the United States.

          2.4.      )£rm. The Company will continue unlil terminated in accordance with Article XIII.
        2.5.   Purposes. The purpose for which the Company is organized is for the development and
operation of the Project and the transaction of any and all lawflil business for which limited liability
companies may be organized under the Code.

       2.6.   Powers. Subject to any limitations in this Agreement. the Company may exercise the
power to do any and alt acts reasonably related to its purposes.

          2.7.      Company Property.

               (a)  All Company property shall be owned in the name of the Company and lHH in the
name of any Member. No Member or Assignee wi II have any interest in such Company property ·solely
by reason of the Member's status as a Member.

               (b)    The Board of Managers shall cause all funds of the Company to be deposiLed or
invested in an account or accounts in the name of the CompjAL LLC                                         PAGE18
62f14S7.1/SP/33032/0101/091114

                                                                                                             MR.568
                                 (ii)   the transfer occms in accordance whh the procedures set forth in Section

                         (iii)   if the Member 1s a corporation. the transfer is to a member of the
           Membcr·s af1iliated group (as defined in l.R.C. Section l 504(a));

                            (iv)    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

                          (v)    if the Member is an individual, the transfer is of a community property or
          other interest from lhe Member's spouse or former spouse to the Member pmsuant to the death
          of the Member's spouse or termination of the marital relationship of the Member and the spouse.

             (b)      Upon a Pennitted Transfer by a Member of all of its Membership Interest. the
 Member ceases to be a Member as of the efiective date of the transfer delermined according to Section
 10.5 .

           I0.3.    Right of First Refusal; Tag~Along Rigbts; Tdggering Events.

                    (a) Jn the event a Member desires lo sell al1 or any portion ofits Membership Interest
to another Person, the se1ling Member shall first offer to sell such interest to the other Members on lhe
terms on which it is prepared to sell such interest to such Persot1 by sending written notice tb each other
Member describing the offer and its terms. Additionally, upon receipt of an ot1er &om a tl1ird party to
purchase aH or any portion of a Member's interest in the Company, which such Member desires to
accept, s1.1ch Member shall promptly deliver a copy of the third party offer to each other Member. Each
other Member will have 15 business clays from the date of receipt of notiee of the proposed sale of a
Member's Membership Interest or the third paity offer, as the case may be, to notity the se1ling Member
In writing that such other Member elects to (i) purchase the selJing Member's Membership lntcresl upon
the tenns and conditions of the proposed sale or thfrd party offer. or (ii) sell in the contemplated transfer,
at the same price in the same form of consideration and on the same terms (including if the transter is
made to another Member making an election under clause. (i), Membership lntercsts representing a
Percentage [nterest in the Company equal to the product of (A) the quolient determined by dividing the
Percenmge Interest owned by such party by the aggregate Percentage Interests owned by all parties
participating in such transfor, und (B) the aggregate Percentage [nterests to be sold in the contemplated
lransfer, as the case may be. lf the other Members fail to give notification within 15 business days of an
election to purchase the selling Member's Membership Interest or participate in the contemplated
transfer, then the selling Member shall be permitted, for a period of 90 days. to sell all of j1s
Membership Interest to lhe third party upon the terms and conditions of the proposed sale or third party
oner~ as the cass TERMJ:-.i:\L LLC                                                      PAGE23
6211457.1/SP/33.03210101/091114

                                                                                                                        MR.573
                                                 ARTJCLEXIII
                                          WINDING LIP AND TERMINATION

        13.1. Events Requiring Winding Up. The Company shall commence winding up procedures in
 accordance with this Agreement and the Code upon the first to occur of the following events:

                     (a)         the Mernbers unanimously vote lo wind up and terminate the      Company ~

                     (b)         a dt!crec by a court requiring the winding up of the Company;

                     (c)         the tertnination of membership of the last remaining Member; or

              (cl)   the resignaLion or removal of all Managers if the Members fail to appoint any
 replacement Manager as prnvided in Section 5.3.

           13.2.     Winding Up Procedures.

                {a)    On the occurrence of an event requiring winding LIP of the Company~ unless there
is un action to continue the Company without winding up in accordance with Section 13.3, the Board of
Managers (or other Liquidator as prnvided below) shall, as soon as reasonably practicable, wind up the
Company's business and affairs (including disposing of the Compani s assets and applying the proceeds
as provided in Scctjon J3.4) and tc1111inate the Company in accordance with this Agl'eement and the
Code. The Company shall cease to carry on its business (except to the extent necessary to wind up its
business). collect and sell its properly to the extent the prope1iy is not to be transferred or distributed in
kind, and pettorm any other act required lo wind lip its busi·ness and affairs.

                 (b)    1f the Board of Managers has wrongfully caused the winding up of the Company
ot· if there is no Manager, (i) a Majority-in-Interest may vote to elect a person or persons to accomplish
the winding up of the Company, or (ii) if the Members fail to elect a person to accomplish winding up
the Company. then any Member or Assignee may petition a court to wind up the Company as provided
in Section 'l 1.054 of the Code. The µerson or persons winding up the Company. whether the Board of
Managers or an elected or court appointed person or persons, i.s referred to in this Agteement as the
"Liquidator.''

                 (c)     The Liquidator may determine the time. manner, and terms of any sale or sales of
Company property pursuant to such winding up. The Liquidator (ii' not the Board of Managers) is
entitled lo receive reasonable compensation for its services~ may exercise all or the powers conferred
 upon the Bmu·d of Managers under this Agreement to the extent necessary or desirable in the good faith
judgment. of the Liquidator to perform its duties~ and with respect lo acts taken or omitted while acting
in such capacity 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 lo the Members and Assignees
during the winding up procedure showing the assets and liabilities of the Company, providing
information and documents required by the Members and Assignees to comply with their tax reporting
obligations, and such other information as the Liquidator deems appropriate. Within a reasonable time
after completing the winding up, the Liquidator shall give each Member and Assignee a final statement
setting fotth t11e assets, liabilities, and reserves of the Company as of the drtte of completion of winding
up.

COMPANY AGREEMENT OF CENTtlRION PECOS TEltl\llN1\L LLC                                                       PAGE24
8211467.1/SP/33032101011091114
                                                                                                                      MR.574
            133.      Continuation Without Winding Up.

                      (a)     lf there is a decision to wind up and terminate the Company as described in
 Section    13.1(a)~    the Company may be con(inued as provided in Section tol.552 of the Code.

              (b)      If there is a termination of the continued membership of the last remammg
 Member as described in Section l 3.1(c}, then prior to completion of the winding up process but not later
 than 90 days atter the event of te1111inat1on, the Board of Managers may continue the Company by
 admitting one or more Members effective ~s 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 of the Additional
 Member.

           l3.4.     Liquidation of Assets and Application and Distribution of Proceeds.

               (a)      In General. On winding up the Company, the Liquidator shall dispose of the
 Company's prope11ies and apply and distribute the proceeds, or transfer Che Company properties, in the
 following order or priority:

                                   to creditors (including Members who are creditors) in accordance with
                                  (i)
           their relative rights and priorities to sutisfy the Jiabilities of the Company, including expenses
           associated with the winding up and termination of the Company, but excluding any Company
           liability for any unpaid Mandatory Distribt1tions;

                            (ii)    to Members, Assignees, and former Members to satisfy the Company's
           liability for a11y unpaid M~mdutory Distributions; and

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

                     (b)
                       No Member Deficit Restoration Obligation. No Member is liable lo the Cotr1pany
or any other person for the repayment of any deficit in lhe Member's Capital Account, except as
provided in Section l 01.206 of the Code •.

                (c)    Reserves.   ln the discretion of the Liquidator, n pro rata portion of the
distributions that would otherwise be made pursuant to Section 13.4(a)(ii} and (iii} may be withheld to
provide a reasonable reserve for Company liabilities (contingent or otherwise) and future expenses,
including a reasonable reserve for any claims for indemnification under Article VI and for any future
expenses associated with any tax audit or other Proceeding that is pending or may arise.

               (d)     Payments and Distriburions to Members in Kind. The Liquithnor may not make
any pay01cnts or distributions to Members or Assignees pursuant to Section 13.4(a){ii) or (iii) other than
in cash unless all Members and Assignees receiving th~ property approve the transfer in kind. The
Liquidator shall determine the Fair Market Value of any property lransforred to Members or Assignees
in kind according lo the valuation procedures set forth in Article XIV.

                      Character of Liquidating Distributions. Except as otherwise required by the
                    (e)
LR.C .. nmounts paid to Members pursuant to this Section 13.4 .shall be treated as made in exchange for
the interest of the Member in Company property pursuant to l.R.C. Section 736(b)(l), including. the
interest of such Member in Company goodwill.

COMPANY AGREEMENT OF CEN'rtrRION PECOS Tl·:ltMllliAL LLC                                            PAG.E.25
6211457 .1/SPl33032/0101/091114

                                                                                                               MR.575
       13.5. Certificate of Termination. The Liquidator shall file n Ce11iticate     or Termination of a
 Domestic Entity on the completion of the wjnding up of the Company.

        13.6. Reinstatement.     If the Company is tcrmimltcd, it may be reinstated in the manner
 provided in the Code.

                                            ARTICLE XIV
                                             VALUATION
          14.1. Fair Value of Company Property. The Fair Value of properly contributed lo the
Company by a Member as part of such Member's Initial Capital Contribution is the amount of such
Mcmber~s Initial Capital Contribution, as set !Orth on Exhibit A, minus the amount of any cash
contributed lo lhe Company as pa1·t of such Member's Initial Capital Contribution. In all other cases, the
Fair Value of an asset as of any date is its fair market value as detennined by the Board of Managers in
good faith using any reasonable valuation method. ff any affected Member does not agree with the
valuation set by 1hc Board of Managers, the Fair Value shall be determined using procedures similar to
those set forth in Section 14.2, and the cost of any such determi11ation shat! be borne entirely by the
atfoctet:l Member unless the Board of Managers or a Majority-in-fnterest of all Members other than (he
~ffected Member approves an alternative allocation of such costs,

        14.2,   Purchase Price of Membership Interest.

               {a)     For purposes of any redemption of a Membership fntcrest pursuant lo Section
10.3(c}, the purchase price shall be the Triggering Event Purchase Pl'ice.

               (b)    If the Offering Member and the Company cannot cooperatively designate an
appraiser within 15 days following the date of the Redemption Notice, then the Offering Member and
the Company shall each select an appraiser, and such two (2) appraisers shall select a third llPlWaiser
who shall select the appraiser to perfoml such appraisal. The cost of each appraisal shall be shared
equally by the Company and the Offering Member.

        14.3. Valuation of Membership lnterests. For all purposes of this Agl'eement other than the
valuation of Membership Interests in connection with a Triggering Event, the fair nrnrket vuf lie of the
Membership Interests shall be determined by the Managers pursuant to an independent third pal'ty
appraisal of the assets of the Company. The l3oard of Managers shall no less than annuafly cause the
assets of the Company to be uppraised by an independent third party.

                                          ARTICLE XV
                                      GENERAL PROVJSJONS

       15.1 .   Amendments.

             (a)    In General. Su~ject to the following exceptions and limitations, thi s Agreement
may be amended only with the wtittcn approval of all Members.

                (b}    Exceptions an/33032101011091114

                                                                                                         MR.578
SEP/ l l/2014/THU l l: 15 PM   BALLENGEE INTEREST              FAX No, 31S-42g-7t03                    P. 002

              Executed as ofthe Effective Date set   i   above, by and axno.og the petsons signing below.
       1\1EMBERS:                                         CENTURION liOGISTICS :LLC

      MANAGER:

     COMPANY AGRl!f!MENT OF    ~Nhco.sn              ,u,LLC                                        PAGE     29

                                                                                                                 MR.579
                                      COMPANY AGREEMENT
                                                   OF
                                  CENTURION PECOS TERMINAL LLC

                                              EXIIJBIT A
                     MEMBERS' CONTRIBUTIONS AND PERCENTAGE INTERESTS

                                    Effective as of the Effective Date

                                                                Initial Ca pital   Initial Percentage
 MEMBEH NAME AND ADDRESS
                                                                 Contribution            I aterest
 Centurion Logistics LLC                                            $400.00              40.00%
 J 7950 Preston Road
 Suite 1080
 Dallas, Texas 75252

 CAM Oil and Natural Gas, LLC                                      $600.00
 800 Spring Street
 Suite 205
 Shreveport. Lm1isirolit.

COMPANY AGREEMENT OF C£'1TllHl()i\' l' t: :cn s T EHt\11 ',\I. LLC
6211457.1/SP/33032/0101/091114

                                                                                                                 MR.583
 and (iii) the amount of any Company Jiabililies assumed by such Member or that arc secured by properly
 distributed to such Member.

               (b)      The Capital Account of each Member shall be debited by (i) the amount of cash
 and the Fair Value of propc11y distrihuted co such Member, (ii) such Member's share of the. Company·s
 Net Loss, and (iii) the amount of any liabilities of such Member assl11r1ed by the Company or lhal arc
 secured by any property contributed by such Member to the Company.

                 (c)    Upon the transfer by a Member of all or purt of an interest in the Company after
 the Etlective Date, the Capital Account of the transferor that is auributable to the transfrrred interest
 carries over to the transferee and the Capital Accounts of the Members shall be adjusted to the extent
 pt:ovidcd in Treasury Regulations Section l.704- l(b)(2)(iv)(m).

                     (d)         In determining the amount of any liabi!i{y for purposes of Sections A.3(a) and
 A.3(b), I.R.C. Section 752(c) nnd any other applicable provisions of the 1.R.C. and the Treasury
 Regulations shall be taken into account.

               (e)    Except as otherwise required by Treasury Regulations Section l.704- l(b)(2)(iv),
adjustment to Capital Accounts in respect' of Company income. gain, loss, deduction. and l.R.C. Section
705(a}(2)(B) expenditures (or items tliereot) shaJJ be made with reference to the federal tax treatment of
such items (and, in the case of book items, with reference to the federal tax treatment of the
corresponding tax items) al the Company level, without regard to any mandatory or electiw tax
treatment of such items at the Member level.

                    (t)   The provisions of this Appendix nnd of the Agreement relating to the maintenance
of Capital Accounts are intended to comply wilh Treasury Regulations Section l.704-l(b)(2)(iv), and
shall be interpreted and applied in a manner consistent with such Treasury Regulalions. ff the Board or
Managers determines that it is prudent to modify the mairner in which the Capital Accounts, or any
debits or credits thereto (including debits or credits relating to liabilities that are secured by
contributions or distributed propc1ty or that are assumed by the Compru1y or any Member): are
computed in order to comply with such Treasury Regulations, the Board of Managers may make such
modi fl<:ation if it is not likely to have a material effoct on Lhe amounts distributed or to be d;stributed to
any Member pursuant to the Agreement. The Board of Managers shall make any adjustments that are
necessary or appropriate (i) to maintain equality between the Capital Accounts of the Members and the
amount of Company capital reflected on the Company's balance sheet, ~IS computed for book purposes,
in accordance with Treasury Regulations Section L704-I (b)(2)(iv){g}. nnd (ii) if unanticipated events
(for example, the acquisition by the Company of oil or gas properties) might otherwise cause iJ1is
Agreement not to comply with Treasury Regulations Section 1.704-l(b).

              (g)      The provisions of the proposed Treasury Regulations published on January 22,
2003 (68 Fed. Reg. 2930}, as they may subsequently be modified or adppted as temporary or final
Tn.:asury Regulations. shall apply with respect to any noncompcnsatory options issued by the Company.

          A.4       Allocations of Net Profit and Net Loss

          AA. l In General

          Aner giving effect to the special allocations set forth in Sections A.4.2 and A.4.3 hereo[ Net
Profit and Net Loss (and to the extent necessary. individual items of income, gain, loss. or dcductio11) fo1·

COMPANY AGREEMENT OF CtNTl!RIOt'i PJ·:cos Tf.:rU·ll~Al. LLC                                           PAGEA-5
6211457.11SP/3303210101/0S1114
                                                                                                                MR.584
 any period shall be allocated to the Members in such amounts as may be necessary to cause each
 Member's Capital Account (as adjusted through the end of such period) lo equal, as nearly as possible,
 the sum (which may be either a positive or negative amount) of li) the amount such Member would
 receive if all Company assets on hand at the end of such period were sold for cash at their Gross Asset
 Values, all Company liabilities were satisfied in cash according to their terms (limited in the case oJ any
 Nonrecourse Liability and Partner Nonrecourse Debt to the Gross Asset Value of the property securing
 such liabilities), all obligations (if any) of Members to contribute additional capital to the Company were
 satisfied, and any 1·emaining cash was distribqted to the Members under Section 4.2 as of the last day of
 such period, minus (ii) the Member's share of Partnership Minimum Gain and Pa11ner Nonrecourse Debt
 Minimum Gain computed immediately prior to such deemed sale of assets.

        A.4.2 Regulatory Allocations. The following special allocations shall be applied in the order in
 which they are Jisted. Such ordering is intended lo tomply with the ordering rllles in Treas~1ry
 Regulations Section l .704<~(1) and shall be applied consistentlyiherewith.

                 (a)   Minimum Gain Chargeback.              Except as otherwise provided in Treasury
 Regulations Section 1. 704~2( f). anything to the contrary in this Section A.4 notwithstanding, if there is a
net decrease in Partnership Minimum Gain during any taxable year, each Member shall be allocated
items of income and gain for that taxable year (and. if necessary. subsequent taxable years) equal to that
Member's share of the nel decrease in Partnership Minimum Gain deteJmincd in accordance with
Treasury Regulations Section 1.704-2(g)(2). This Section A.4.2(a) is jntended to comply with lhe
minimum g'1in chargehack requirement in Treasury Regulations Section l . 704~2(1) and shall be
interpreted consistently therewith~ including that no chargeback shall be required to the extent the
requirements for requesting a waiver described in Treasll1·y Regulations Section J .704-2(t)(4) are met or
the requirements for any other exception p1·escribed by or pursuant to Treasury Regulations Section
 l ,704-2(i) are met.

                 (b)    Partner Nonrecourse Debt Minimum Gain Chargeback. Except. as otherwise
provided in Treasury Rcgulatjons Section I .704-2(i)(4), anything to the contrary in this Section
notwithstanding, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain during a taxable
year, lhen, in addition to the amounts. if any, allocated pursuant to paragraph 4.2(a), any Membe1· with a
share of that Partne1· Nomecourse Debt Minimum Gain (determined in accordance with Treasury
Ref,rttlations Section 1. 704-2(i)(5)} as of the beginning of the taxable year shall be allocated items of
Company income and gain for that taxable year (and, if necessary. for subseqLJent taxable years) equal to
that Member~s share of the- net decrease in the Partner Nonrecourse Debt Minimum Gain, detennined in
accordance with Treusury Regulations Section L704-2(i)( 4). This Section A.4.2(b) is intended to
comply with the chargeback of partner nonrecourse debt minimum gain required by Treasury
Regulations Section l.704-2(i)(4) and shall be .interpreted consistently therewith. including that no
chargeback shaH be required to the extent the requirements fo1· any exceptions provided in Treasury
Regulation Section l .704-2(i)(4) are met.

                (c)     Qualified Income Offset. If any Member unexpectedly receives any adjustment,
allocation, or distribution described in Treasury Regulations Sections 1.704-1 (b)(2)(ii)(d}(4), (5), nr (6),
items of Company income and gain shall be specially allocatetl to such Member in nn amount and
manner sunicient to eliminate, to the extent required by U1e Treasury Regulatjons, the Adjusted Capital
Account Deficit of such Member as quickly as possible. An allocation pursuant to the foregoing
sentence shall. be mude only to the extent that such Member would have an Adjusted Capital Account
Deficit after all other allocations provided for in Section A.4 have been tentatively made as if this
Section A.4.2(c) were not In this Appcndlx. This allocation is intended to const11ute a "quulitied income

COMPANY AGREEMENT OF C!>:N'IH~I()~ l'l·:cos TE\t:\llSAL LLC                                         PAJ1'~t, t'~              .._
                                                               DEED OF TRUST                             ...        ~:   'H" a! H ·? IJ-ttllAtf
RECORDATION REQUESTED BY:
    Tnu c..,n.1 S.nk, National Ae8ocl•llon
     Pl'Hller Olflee, Commerclal S.nldng
    5910 N, Central Expruaway, Sulle 150
    O.llu, TX 75206

WHEN RECORDED MAIL TO:
    Texu Cepltel Blink, ~llo"el Aeaocletlon
    Attn : l.oen Openlllona
                                                                                                                                                                        v
    2350 LAlc!er lalso k,nown as Beneflclaiy in thTs Deed of Trust) all of Grantor's right, ti1le, and interest in and IQ all
p<689nt and Mure leases ol the Property and all Renls from the Property. In addition, Granlot grants to I.ender a Uniform Commercial Code
securily lnlerest In the Personal Plope11y and R11<1ts.
THIS DEED OF TRUST, INCLUDING THE ASSJQNMENT Of RENTS AND THE SECURITY INTEREST IN THE RENTS .\ND PERSONAL PROPERTY,
IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF ANY AND AU. OBLIGATIONS UNDER THE NOTE,
THE A.ELATED DOCUMENTS, ANO THIS DEED Of TRUST. TiiJS DEEO OF TRUST IS GIVEN AND ACCEPTED ON TllE FOLLOWING TERMS:
GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants that: (a) this Deed of Trust Is e~eeuted at Borrower's request and nol
al the request of Lender. (b) Granlor has Iha lull power, right, and aulhorily to 81\ler fnto lhl$ Deed of Trust end lo hypothecate the Property:
(o) the provisions of this Deed ol Trust do not conlllct wllh, or r6St.llt in a detaUlt under any agreement or other 1nstrument binding upon Granlor
nnd do not result In a violation of any law, regulatlon. court decree or order applicable to Grantor, (d) Granlot has eslllblishcd adequoto means
ol obtalnihg from Borrower on a coollnulng basis infonnalion about Borrov/o(s Hnanclal condition: end (e) Lende! hes made no representation
to Gran1or aboul BorroWer (Including wtthout llmilatlon the credltwonhlness of Borrower).
GRANTOR'S WAIVERS. Granlor wa1ves all rights or ootenses wing by reason of any •one action• or ·anll-dellcfency• law, or any olher law
which 1'(18Y prevent i..eN:klr from bringing any aclion 11galnst Grantor, 1nolvding a claim lor deficiency to the exlent Lender rs olherwin entitled to
a claim tor deficiency, befote or altar Len!OOOadlno Is oom re .m ~t would materially affect l.&ndet's Interest In the Ptoperty IX if Grantor
 !alls Lo corT91y with rN'fY prol.'iSilon ot this Oeed of Trust or any Rela!Bd Documents, lnctu:!ing but not limited to Grantor's lafttJre lo clischa.rge or

                                                                                                                                                     MR.592
                                                                                            BALLENGEE00002065.02
                                                               DEED OF TRUST
                                                                 (Continued)                                                                    Page 3

pay when di.le any amOUl\ts Grantor is requfred lo discharge or pay under this Deed ot Trust or any Relal&d Documents, Lender on Granto~s
behaH may (but shalt not be obligated lo) talce any acuoo that Lendef deems appropriate, inciudlng but .not limited to dOVe, Granior warrants and will lorover defend the tlt11> to the Propeny agaTnsl
     the Jawlul chtlms ot all persons. In the eve111 any ac~on or ptoceedlog IS commenced that quesllons Grantor's title or the Interest ot
                                                                                                                                                             ·t
     Trustee or Lender under 1hls Deed ol Trust. Grantor sha~ defend the action at Grantor's expense. Grantor may be lhe nominal party In                    0
     such proceeding, but Lenoer shal be entitled to panlc!pate in the proceeding and to be represented In the proceeding by counsel or
     Lende(·s own oholoe, and Granlor wnt deliver, or causa to be deUvered, to I.ender sucti Instruments as Lender may request Iron\ time to                 9
     Ume to permit such participation.
     Compll•nc• With L1wt. Grantor warri1nts that the Property arid Granto(s use or lhe Property complies wllh all existing appnca1>1e laws,
     on:llnances, and regulallo11s of governmental authorities.
     Survtv•I of Repruentatlona and W1m1nUH. All representations, warrannes, and E19reemenls made by Granter In this Deed of Trust stlall
     SUfVlve 1he execution and delivery of this Deed or Trust, shail be continuing in na.turo, and stiall romain in lull lorce and effect untn sucn
     time as BoODedlng 1n coodermatlon Is IUed, Granier shall promptly noUfy Lender In writing, and Grantor shall pl'Ower or Granter.
     Compll1nce Default. Failure to comply wllh illlY other lenn , obligation, covenant or condition contained In thrs Deed ol Trust, the Note or Tn
     any of lhe Related Documents.
     Detaull °"Other Psy11l9111a. Failure or Granier within lhe tlrrie requfred by this Oeod of Trust \o make any payment ror 1ues or Insurance,
     or any other payment necessary to prevent ntlng or or to effect discharge of 811Y Uen.
     O.f1ull tn Favor of Third Partle1. ShoiAd Borrower or any Granter dafautt under any loan. extension ot credlt. Hcuril)I agreement. purcho.so
     or sales agreement. or any other agreomont, In favor ot any other oroditor or parson lliat may mater;elty erfecl any of Borrower's or any
     GranlO<'s property or sorrower's ability lo repay the Jndebledness or Borrower's or GranlO(s ablllty to perform tnelr reSJ)OOlive obligations
     under this Deed or Trusl or any ol the Relaled Documents.

                                                                                                                                                    MR.593
                                                                                          BALLENGEE00002065.03
                                                                DEED OF TRUST
                                                                  (Conti nued)                                                                 Page 4

    FeJN Sllltemtnta. MY warranty, representallon or sta1ement made or furnished to Lender by Borrower or Grantor or on 'Borrower's or
    Grantor's behalf uodor 11116 Deed of Trull! or lhe Relaled Oocumenis Is false or misleading In arry material respect, either now or at lhe 1lme
    made or flmfshed or becomes false or rnlSleading at any tima thereafter.
    Defective Collal8'allutlon. This Deed of Trust or eny of the Aelaled Ooouments ceases to be In fl.Ill force and elfect (lnofUdln9 failure ol
    any collateral document to ereate a valid and per1ecled seourlty lnteresf or lien) at any time and tor ar,y reason.
          °'
    Death fneolW11q!. The dlssolution ol Grenier's (regardless of whelhar elecUon to continue Is made). any mem~r wllhdraws from the                        V
    limited liability company, or any ott1er lermlneUoo of Bollower's or Grantor's existence as a going bUsiness or ll'le death of any mem)>er, the
    Insolvency of Borrower or Grenior, lhe appolnunent or a receiver for any pan of Borrower's or Grenier's property, any asslgnmenl lor lhe                0
    benern or credllors. any type of creditor workoul, or the commencement of any proceeding L6lder any Dankruplcy or Insolvency laws by or                 L
    a9ainst Borrower or Grantor.
    Creditor or Forlallur• Proeoodlnga. Commel'ICemenl of loreclosure or lorfeilure prO(:eed\ngs, whether by Judlc:Jel proceeding, sell-help,
    tepoSSesslon or any other method, by any eredllor of Borrower or Granter or by any governmenlal agency againsl any property securing the
    lndebledness. 11ils Includes a garnishment of any of Borrowo(s or Granlofs accounls, lncl\Jdlng depoSlt eocounts, with Lender. However,
    this Evoot of Oefaull shall not apply 1f !~ere is a good faith od by Lendor.       1
    in Its sole diScfeUon, as being an adequale reserve or bond for the dispute.
    BrMch ol Ot.her AgrNment. Any breach by Borrower or G'8ntor under the terms ol 1J11Y other agreement between Borrower or Granlor end                    0
    Lender that Is not remedied wnhtn any grace pertod provided therein. Including wi!hout limitation any agreement conceming any                           9
    Indebtedness or other obligation of BofTOwer or Grantor to l..ondef, wh91her existing now or later.
    Event• AlfectlnO Guarantor. Any of the .preceding events occurs with respect to any Guarantor of any ol the Indebtedness or aT"'J
    Guarantor dies or becomes lncompalent, or revOkes or disputes the valldlty of, or llabllily under, any Guaranty ol the Indebtedness.
    AdvffM Cnange. A rmtatlal iw::lll'erse ctianoe occurs In Borrower's or Gmntor's flnancial oonditlon. or Lender ~laves the prOSpecl ol
    payment or performance 01 lhe lndeblediess Is lfT1;!aired.
    lnucurily. Lender In good fallh believes 11self Insecure.
    Right to Cure. II any Clefa.ult. otner than a default in payment is curable, lt may be oured 11 Grantor, alter Lenaer sends written notice lo           p
    Borrower demanding cu(e -of such default: (1) cures the default withln ten (10) days; or (2) If tho cure requires mofe lhan ten (10) da~.
    lmrnedialely irillletes steps' whloh Lender deems in Ler.dets sole dlscrellon to be sulflcrent lo cule the delault and thereafter conllnues and         G
    ocmpletes ell c'easonable and necess&ry steps sufficiont lo produce ocmpllancG as soon as reasonably practical.
RIGHTS ANO REMEDIES ON D:EFAULT. II an Evs1t of Default occurs under this Deed of Trust, at any time thereafter, Trustee or t..erlier ~
exen:ise any one or more ol lhe lollowirig tights and remedies:
    Election of Remedlee. Bec~oo by Lender lo pursue any remedy shall not exclude pursull or any olher remetly, anllgalion as lessor or landlord wtth
    respect lo any occupant of the Property. fients so recellled shall be applied by Lender first 10 the remaining L6lpald balance ol the
    Indebtedness, In suet> otdef or manner as Lender shall elect, and the residue, 11 any, shall be paid to the person or persoris legally e11tlUed 10
    lhe Cpl9S&ly walves all darreges sustained by reesai thereo<.
    Other Remedlee. Trustee or Lender shall have any other r1ght or remedy provided In thls Deed ot Trust or the Nota or tjvallable at law or in
    equity.
    Salo of the Property. To ttie e>dent permitted by applloable law, Borrower and Granlor hereby waives MY and all righla to t>avc lho
    Property marshalled. lo e1$ a matter of law, Trustee shall have the power to la~e the following
    actions with respect to 111ti Property upon the written request ot lander and Granter. (a) Join in preparing and fifing a map or plat of the
    Real Property. including the dedication of streelS or other rights to the public; (b) Join In granting any easement or creeling any restriction
                                                                                                                                                           1
    on the Real Property; and (c) jOln In any subordination or other agreement attectlng this Deed of Trust or the Interest ol Lender under this           1
    Deed of Trust.
    Obllg1Uon1 lo Notify. TnJ'51ee shall not be obligated to notify any other Menhdder ot 01e Property ol the commencement of a foreclosure
                                                                                                                                                           0
    proceeding or of the commencement of any other 11ction to which Loncler may 11va11 Jtsetf as a remedy, except to the extent reQuired by                9
    11pplic:6ble law or by wr1tten agreement.
    TruatM. In addition to the rights and remedies set forth anove, with l espect lo all 01 any j)Brt of the Property, ihe Trustee shall have the
    right to roreclose by notioe snd sale, and Lender shall have \ho right to toreclose by Judicial foreofosure, In either case In accordance with
    and to the lull e"1ent provided by appllcabte law.
    Subatllute Tr111tae. Lender, at Lende(s opllon, trom time to time. and more than once, may appoint ln wrltlng 11 successor or· substitute
    trustee. with or without ca1.1Se. lnciudlng the res(gnelion, 11bsence1 doath. inabililY. refusal or laUuro 10 ac1 ot the Trustee. The successor or
    substllu\e trustee may be appointed wlthout ever requiring the resi9nation of the former trustee and Without any lormanty except tor the
    execuUon and acknowlodgmont of the appolntme111 by the l)eneOciary of ttils Deed of Trust. The successor or sllbstltute trustee snail then
                                                                                                                                                           p
    succeed lo ell rights, ot>li!laJlons, and duties of the Trustee. Ttlls appointment may be made on Lender's behatt by the President, any V\ce           G
    PreslOO right otherwise to
    demand strict comp!lanoe with that provlskln or eny other provision ol thls Deed of Trust. No pr.or waiver by I.ender. nor any course ot
    deallng between Looder and Granier, shall constitute a waiver ol any of Lenders rights or of any or Grantor's obOgations as to any future
    transactions. Whenelll!f the QOnsent of Lender is required lXlder this Oeed or Trust, the granting of such consent by l.eJ1det in aI1Y (flstance
    sl'lall not conslltute cootlnuing consent to SUbsequent Instances where such consent Is required and In all cases such consent may be
    granted or withheld In the sole discretion or Lender.
    Payment of tnt9feal and f - . Notwithstanding Olly other provision of this Deed of Twst or              arrv  provision of any Related Oocumen~
    Granlor does nOI agree Of li1lijrid to pay, and I.ender does not agree or Intend to charge, collect, tntco, RlSente or receive (coWactlVely
    referred to ha