Common use of Contract Signature Authorization Clause in Contracts

Contract Signature Authorization. The following information identifies the signature authority typically applicable for key contract types. Note that it is not intended to override any signature authority already provided by the Board of Directors. Also note that the Xxxxxxx President / CEO has authority to sign all of the contracts identified below and the CRO can sign all contracts listed below with the exception of ones that require COO / CFO or President / CEO approval. Privileged and Confidential - 12/5/2011 A. Vice President of Oil Trading, Pricing and Customer Service: Signature authority for all Oil Supply / Trading Agreements, with the exception of those requiring AJI Guarantees (requires AJI signature) and margin (collateral) provisions (requires COO / CFO signature). The VP of Oil Trading, Pricing and Customer Service can delegate signature authority to the VP Oil Supply for contracts in the Oil Supply area.