SEPARATION AGREEMENT AND MUTUAL RELEASESeparation Agreement and Mutual Release • April 24th, 2012 • Cross Border Resources, Inc. • Crude petroleum & natural gas • Texas
THIS SEPARATION AGREEMENT AND MUTUAL RELEASE (this "Agreement") is entered into this 23rd day of April, 2012, by and between LAWRENCE J. RISLEY ("Executive") and CROSS BORDER RESOURCES, INC. (the "Company") (collectively referred to as the "Parties") to resolve all issues related to or arising out of Executive’s former employment with Company and Executive’s termination of employment on the Termination Date. This Agreement is delivered in connection with that certain Agreement dated April 23, 2012, by and between Red Mountain Resources, Inc. and the Company and becomes effective on the Change of Officer Date as defined therein which shall be no later than May 31, 2012. In consideration of the mutual covenants contained herein, the sufficiency of which the Parties acknowledge, the Parties agree as follows:
SECOND AMENDMENT TO EMPLOYMENT AGREEMENTEmployment Agreement • April 24th, 2012 • Cross Border Resources, Inc. • Crude petroleum & natural gas • Texas
THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is effective as of the 20th day of April, 2012 (the “Effective Date”) by and between Lawrence J. Risley, a resident of the State of Texas (“Executive”), and cross border resources, inc., a Nevada corporation having its principal office at 22610 US Hwy 281 North, Suite 218, San Antonio, Texas, 78258 (the “Company”).
AGREEMENTAgreement • April 24th, 2012 • Cross Border Resources, Inc. • Crude petroleum & natural gas • Nevada
THIS AGREEMENT (this “Agreement”), dated as of April 23, 2012, is made by and between Cross Border Resources, Inc., a Nevada corporation (the “Company”), and Red Mountain Resources, Inc., a Florida corporation (“Red Mountain”).
April 20, 2012Mutual Release • April 24th, 2012 • Cross Border Resources, Inc. • Crude petroleum & natural gas • Texas
In connection with your employment with Cross Border Resources, Inc. as the Company’s Chief Accounting Officer, Treasurer and Secretary, the Company and you (the “Executive”) have agreed to the following modifications to the severance and change in control package originally provided on March 6, 2012 (the “Letter Agreement”). Except as set forth herein, the terms of the Letter Agreement remain in full force and effect. Terms not defined herein shall have the meaning set forth in the Letter Agreement.
MUTUAL RELEASEMutual Release • April 24th, 2012 • Cross Border Resources, Inc. • Crude petroleum & natural gas • Texas
THIS MUTUAL RELEASE (this "Agreement") is entered into this 23rd day of April, 2012, by and between NANCY S. STEPHENSON ("Executive") and CROSS BORDER RESOURCES, INC. (the "Company") (collectively referred to as the "Parties") to resolve all issues related to or arising out of Executive’s employment with the Company through the Change of Control Date. This Agreement is delivered in connection with that certain Agreement dated April 23, 2012, by and between Red Mountain Resources, Inc. and the Company and becomes effective on the Change of Control Date as defined therein. In consideration of the mutual covenants contained herein, the sufficiency of which the Parties acknowledge, the Parties agree as follows:
MUTUAL RELEASEMutual Release • April 24th, 2012 • Cross Border Resources, Inc. • Crude petroleum & natural gas • Texas
THIS MUTUAL RELEASE (this "Agreement") is entered into this 23rd day of April, 2012, by and between BRAD E. HEIDELBERG ("Director") and CROSS BORDER RESOURCES, INC. (the "Company") (collectively referred to as the "Parties") to resolve all issues related to or arising out of Director’s serving on the Board of Directors with the Company through the Change of Control Date. This Agreement is delivered in connection with that certain Agreement dated April 23, 2012, by and between Red Mountain Resources, Inc. and the Company and becomes effective on the Change of Control Date as defined therein. In consideration of the mutual covenants contained herein, the sufficiency of which the Parties acknowledge, the Parties agree as follows:
