SIXTEENTH AMENDMENT TO LOAN AND SECURITY AGREEMENTLoan and Security Agreement • March 30th, 2015 • Tengasco Inc • Crude petroleum & natural gas • Texas
This Seventeenth Amendment to Loan and Security Agreement (this “Amendment”) is made and entered into as of September 23, 2014(“Effective Date”), by and between PROSPERITY BANK, successor by merger to THE F&M BANK & TRUST COMPANY (“Lender”), acting as a lender on its own behalf, as Agent under the Loan Agreement (as defined below), and as collateral agent on behalf of CARGILL, INCORPORATED, a Delaware corporation (“Cargill”) as a Hedge Provider, and TENGASCO, INC., a Delaware corporation (“Borrower”), TENNESSEE LAND & MINERAL CORPORATION (“TLMC”), TENGASCO PIPELINE CORPORATION (“TPC”) and MANUFACTURED METHANE CORPORATION (“MMC”) (each of TLMC, TPC, and MMC are a “Guarantor” and collectively “Guarantors”) (collectively referred to herein as the “Parties”).
SEVENTEENTH AMENDMENT TO LOAN AND SECURITY AGREEMENTLoan and Security Agreement • March 30th, 2015 • Tengasco Inc • Crude petroleum & natural gas • Texas
This Seventeenth Amendment to Loan and Security Agreement (this “Amendment”) is made and entered into as of March 16, 2015 (“Effective Date”), by and between PROSPERITY BANK, a Texas state banking association, successor by merger to The F&M Bank & Trust Company (“Lender”), acting as a lender on its own behalf, as Agent under the Loan Agreement (as defined below), and as collateral agent on behalf of CARGILL, INCORPORATED, a Delaware corporation (“Cargill”) as a Hedge Provider, and TENGASCO, INC., a Delaware corporation (“Borrower”), TENNESSEE LAND & MINERAL CORPORATION (“TLMC”), TENGASCO PIPELINE CORPORATION (“TPC”) and MANUFACTURED METHANE CORPORATION (“MMC”) (each of TLMC, TPC, and MMC are a “Guarantor” and collectively “Guarantors”) (collectively referred to herein as the “Parties”).
February 25, 2015Tengasco Inc • March 30th, 2015 • Crude petroleum & natural gas
This letter is a compensation offer and is not an employment contract, and your employment as an Officer of the Company continues as “at will” employment meaning either you or the Board of Directors of the Company may terminate your employment at any time for any lawful reason, and this letter agreement will also terminate at such time (provided that any rights pursuant to Section 2 shall survive such termination). If you accept this compensation offer, it will become effective as of March 2, 2015. You and the Company agree that as of March 2, 2015 your compensation will be in accordance with the following terms:
