May 7, 2010 Mr. Lee S. Rosen Chairman New Generation Biofuels Holdings, Inc. Re: Separation Agreement Dear Lee:Waiver and Release Agreement • May 13th, 2010 • New Generation Biofuels Holdings, Inc • Industrial organic chemicals • Florida
This separation agreement (this “Agreement”), if accepted by you, sets forth the terms of the agreement between you and New Generation Biofuels Holdings, Inc. (the “Company”) in light of your resignation as Chairman of the Board of the Company. Capitalized Terms used but not defined herein shall have the meanings set forth in the Amended and Restated Employment Agreement, dated July 23, 2009, between the Company and you (the “Rosen Employment Agreement”).
