EXHIBIT 10.2 FORM OF SUBORDINATION AGREEMENT DATED NOVEMBER 30, 2006 SUBORDINATION AGREEMENT This SUBORDINATION AGREEMENT (this "AGREEMENT"), dated as of November 30, 2006 is among GALAXY ENERGY CORPORATION, a Colorado corporation ("BORROWER"),...Subordination Agreement • December 1st, 2006 • Galaxy Energy Corp • Crude petroleum & natural gas • New York
EXHIBIT 10.1 SUBORDINATED UNSECURED PROMISSORY NOTE DATED NOVEMBER 30, 2006 THIS SUBORDINATED UNSECURED PROMISSORY NOTE (THIS "NOTE") AND THE INDEBTEDNESS EVIDENCED HEREBY ARE SUBORDINATE IN THE MANNER AND TO THE EXTENT SET FORTH IN THAT CERTAIN...Subordinated Unsecured Promissory Note • December 1st, 2006 • Galaxy Energy Corp • Crude petroleum & natural gas • Colorado
