GREENHUNTER ENERGY INC.
Exhibit
10.1
GREENHUNTER
ENERGY
INC.
July
10,
2007
Dr.
Xxx
Xxxxxx
Chairman
000
X.
Xxxx Xxxxxx
Xxxxx,
Xxxxxx 00000
|
RE:
|
Merger
Agreement dated May 30, 2007 between Orion Ethanol, Inc. and GreenHunter
Energy, Inc. (the “Merger
Agreement”)
|
Dear
Xxx:
Pursuant
to our phone conversation yesterday, it is our understanding that Orion Ethanol,
Inc. does not agree to amend the terms of Merger Agreement in order to obtain
the consent of West Coast Asset Management to vote in favor of the merger.
Therefore, Orion Ethanol and GreenHunter Energy hereby mutually agree to
terminate the Merger Agreement pursuant to Section 7.1(a) of the Merger
Agreement.
Please
acknowledge your agreement to terminate the Merger Agreement by executing this
letter in the space indicated below and returning one copy to the
undersigned.
I
know
both companies have worked hard in attempting to make this transaction work
for
everyone involved. Hopefully, there will be an opportunity for our two companies
to work together in the future.
Sincerely,
/s/
Xxxxxxx X. Xxxxxx
Xxxxxxx
X. Xxxxxx
President
and COO
AGREED
AND ACCEPTED, this 11th day of July, 2007.
By:
/s/
Xxxxxxx X. Xxxxxx
Name:
Xxxxxxx
X. Xxxxxx
Title: Chairman
