MASTER COMPROMISE AND SETTLEMENT AGREEMENTSettlement Agreement • March 3rd, 2006 • Terax Energy, Inc. • Oil & gas field exploration services • Texas
This Master Compromise and Settlement Agreement (“Agreement”) is entered into by and between J. WILLIAM RHEA, IV (“Rhea”), on the one hand, and TERAX ENERGY, INC., PHILLIP A. WYLIE, ANDREW HROMYK, ERIC BOEHNKE, JOHN W. LEGG, and BILLY WAYNE CHESTER (collectively the “Defendants”), on the other hand, in order to settle all existing disputes between them. Rhea and the Defendants, who will be referred to hereinafter sometimes collectively as the “Parties,” hereby stipulate and agree as follows: WHEREAS, Rhea is a former officer and director of TERAX ENERGY, INC. who filed the lawsuit styled J. William Rhea, IV v. Terax Energy, Inc., Phillip A. Wylie, Andrew Hromyk, Eric Boehnke, John W. Legg, and Billy Wayne Chester, Cause No. GN5-04014, in the District Court of Travis County, Texas, 345th Judicial District (the “Lawsuit”), seeking money damages and injunctive relief against the Defendants.
