Description of Oral Consulting Agreements
Exhibit 10.10
Description of Oral Consulting Agreements
1. Xxxxx X. Xxxx serves as Chief Executive Officer and Chief Financial Officer of the Company pursuant to an oral agreement among Xx. Xxxx, Santa Fe Operating, Inc. and the Company (the “Hall Agreement”). Pursuant to the terms of the Hall Agreement, the Company has agreed to pay Xx. Xxxx a $10,000 monthly fee plus payment of out of pocket expenses. The Hall Agreement is terminable on 30 days’ notice.
2. Xxx Xxxxxxx serves as a consultant to the Company, pursuant to an oral agreement among Xx. Xxxxxxx, SF Petroleum, LLC (an affiliate of the Company) and the Company (the “Xxxxxxx Agreement”). Pursuant to the terms of the Xxxxxxx Agreement, the Company has agreed to pay Xx. Xxxxxxx a $15,000 monthly fee plus payment of out of pocket expenses in return for his consulting services. The Xxxxxxx Agreement is terminable on 30 days’ notice.
3. Xxxxxx Xxxxxx serves as a consultant to the Company, pursuant to an oral agreement among Xx. Xxxxxx, SF Petroleum, LLC and the Company (the “Xxxxxx Agreement”). Pursuant to the terms of the Xxxxxx Agreement, the Company has agreed to pay Xx. Xxxxxx a $10,000 monthly fee plus payment of out of pocket expenses in return for his consulting services. The Xxxxxx Agreement is terminable on 30 days’ notice.
4. Xxxxx Xxxxxxxxxxx serves as a consultant to the Company, pursuant to an oral agreement among Xx. Xxxxxxxxxxx, SF Petroleum, LLC and the Company (the “Dangelmaier Agreement”). Pursuant to the terms of the Dangelmaier Agreement, the Company has agreed to pay Xx. Xxxxxxxxxxx a $7,500 monthly fee plus payment of out of pocket expenses in return for her consulting services. The Dangelmaier Agreement is terminable on 30 days’ notice.