SETTLEMENT AGREEMENTSettlement Agreement • May 12th, 2009 • Bp Prudhoe Bay Royalty Trust • Petroleum refining • New York
WHEREAS, BP Prudhoe Bay Royalty Trust (the “Trust”) is a statutory trust under the Delaware Statutory Trust Act, having The Bank of New York Mellon, formerly known as The Bank of New York, as Trustee (the “Trustee”) under the BP Prudhoe Bay Royalty Trust Agreement (the “Trust Agreement”), dated February 28, 1989, by and among (a) BP Exploration (Alaska) Inc. (“BPXA”), (b) The Standard Oil Company (“SOC”), (c) the Trustee and (d) The Bank of New York (Delaware), now known as BNY Mellon Trust of Delaware, as Co-Trustee (the “Co-Trustee”);
