EXHIBIT 99.2
DIRECTOR SEPARATION AGREEMENT
November 7, 2006
X. Xxxxxxx Xxxxxx
0000 Xxxxxx Xxxx
Xxxxxxx, Xxxxx 00000
Re: Director Separation Agreement
Dear Xx. Xxxxxx:
In connection with your resignation from the Board of Directors of Blue Dolphin
Energy Company (the "Company"), the Board has agreed to your request to be paid
director compensation as if you had continued to be a member of the Board
through May 15, 2007, the estimated date of the Company's next Annual
Stockholders' Meeting. Based on such an arrangement, you would have received
three payments of $3,000 each in connection with meetings on November 15, 2006,
February 15, 2007 and May 15, 2007.
In order to reduce the future administrative burden of these payments, a check
in the amount of $9,000, which represents the total of the future payments, will
be mailed to you within 10 days of the effective date of your resignation.
With kind regards,
/s/ XXXX XXXX
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Xxxx Xxxx
Chairman and CEO
IS/jmh
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ACKNOWLEDGMENT OF RECEIPT
I hereby acknowledge receipt of the Company's letter dated November 7, 2006
regarding the Director Separation Agreement.
/s/ F XXXXXXX XXXXXX 11/14/06
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Signature Date
