EMPLOYMENT AGREEMENTEmployment Agreement • August 14th, 2008 • Renegy Holdings, Inc. • Engines & turbines • Arizona
AGREEMENT, dated this 14th day of August, 2008 (the “Effective Date”), between Renegy Holdings, Inc., a Delaware corporation (the “Company”) with offices at 301 W. Warner Road, Suite 132, Tempe, Arizona 85284, and Hugh Smith (the “Executive”),
Renegy Holdings, Inc. 60 E. Rio Salado Parkway, Suite 1012 Tempe, AZ 85281 August 13, 2008Renegy Holdings, Inc. • August 14th, 2008 • Engines & turbines
Since the date of the Letter Agreement, additional costs have been incurred in connection with the Plant; there is uncertainty as to what portion of such additional costs are properly characterized as Project Costs, or as Project Costs necessary to achieve “Commercial Operation,” pursuant to the Letter Agreement and the Overrun Guaranty, the Credit Agreement, and the Contribution and Merger Agreement dated as of May 8, 2007, as amended, by and among you, the Company, and certain affiliated parties (the “Contribution and Merger Agreement”) (as such agreements are modified by the Letter Agreement).
