ALLOCATION OF RIGHTS AND SETTLEMENT AGREEMENTAllocation of Rights and Settlement Agreement • June 30th, 2010 • Bontan Corp Inc • Crude petroleum & natural gas
This Allocation of Rights and Settlement Agreement (this "Agreement"), dated as of March 25, 2010, is entered into by and among (1) International Three Crown Petroleum LLC C"ITC"), Israel Petroleum Company, Limited ("IPC"), H. Howard Cooper ("Cooper") (collectively, the "Plaintiffs"), and Bontan Corporation Inc. ("Bontan", and collectively with the Plaintiffs, the "IPC Parties"), on the one hand, and (2) PetroMed Corporation (“PetroMed"), Hagai Amir, Lyle Durham (collectively, the "PetroMed Parties"), on the second hand, and (3) Emanuelle Energy Ltd. ("Emanuelle") and IDB-DT Energy (2010) Ltd. (in formation by its promoters IDB Development Corporation Ltd. and Du-Tzah Ltd.) ("IDB-DT"), on th6 thiIjd hand (Emanuelle and IDB-DT, the "Lead Investors"). The IPC Parties, PetroMed Partle and the Lead Investors are referred to individually as a Party or collectively herein as the “Parties”. Cooper, Hagai Amir and Lyle Durham are referred to collectively herein as the "Individual Parties."
