EXHIBIT 10.2 FORM OF SUBORDINATION AGREEMENT DATED MAY 31, 2007 SUBORDINATION AGREEMENT This SUBORDINATION AGREEMENT (this "AGREEMENT"), dated as of May 31, 2007 is among GALAXY ENERGY CORPORATION, a Colorado corporation ("BORROWER"), DOLPHIN ENERGY...Subordination Agreement • June 29th, 2007 • Galaxy Energy Corp • Crude petroleum & natural gas
EXHIBIT 10.1 SUBORDINATED UNSECURED PROMISSORY NOTE DATED MAY 31, 2007 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 • June 29th, 2007 • Galaxy Energy Corp • Crude petroleum & natural gas • Colorado
