SEPARATION AGREEMENT CONFIDENTIALSeparation Agreement • December 27th, 2007 • Syntroleum Corp • Crude petroleum & natural gas • Oklahoma
THIS SEPARATION AGREEMENT (the “Agreement”) made and entered into effective 20 December, 2007, by and between Syntroleum Corporation, a Delaware corporation with its principle place of business at 4322 South 49th West Avenue, Tulsa, OK 74107 (the “Company”) and Richard L. Edmonson, a natural person with his principal residence at 7924 S. Braden Avenue, Tulsa, OK 74136 (the “Executive”).
Re: Settlement of Section 2.6 of the Consolidation and License AgreementSyntroleum Corp • December 27th, 2007 • Crude petroleum & natural gas
Gentlemen: Syntroleum Corporation (“Syntroleum”) and Marathon Oil Company (“Marathon”) have previously executed the Consolidation and License Agreement dated effective January 16, 2007 (the “Agreement”). By execution of this letter agreement and upon receipt of the Payment (as defined herein), Syntroleum and Marathon agree that the payment by Syntroleum of $3,750,000 in immediately available funds (the “Payment”) to Marathon by December 28, 2007 shall satisfy and terminate the payment obligations pursuant to Section 2.6 of the Agreement. Upon receipt of the Payment Marathon releases and forever relinquishes, surrenders, waives, bargains away, acquits, exonerates and discharges Syntroleum and each member of the Syntroleum Group (as defined in the Agreement) from any and all causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liabilities, claims, demands, damages, losses, costs or expenses, of any kind or nature whatsoever, known or unknown, fix
SYNTROLEUM CORPORATION 2005 STOCK INCENTIVE PLAN EMPLOYEE RESTRICTED STOCK AWARD AGREEMENTSyntroleum Corporation 2005 Stock Incentive Plan Employee Restricted Stock Award Agreement • December 27th, 2007 • Syntroleum Corp • Crude petroleum & natural gas • Oklahoma
THIS AGREEMENT (“Agreement”), made as of the 20th day of December 2007 (the “Grant Date”), evidences an award by Syntroleum Corporation, a Delaware corporation (the “Company”) to Richard L. Edmonson (the “Grantee”) pursuant to the 2005 Stock Incentive Plan (the ”Plan”). Capitalized terms used and not otherwise defined herein shall have the meaning ascribed thereto in the Plan.
