EXECUTIVE COMPENSATION AND RETENTION AGREEMENTExecutive Compensation And • June 18th, 2009 • Coil Tubing Technology Holdings, Inc. • Oil & gas field services, nec • Texas
THIS EXECUTIVE COMPENSATION AND RETENTION AGREEMENT (“Agreement”), by and between COIL TUBING TECHNOLOGY HOLDINGS, INC., a Nevada corporation, (referred to herein as the “Company”), and CHARLES WAYNE TYNON (referred to herein as “Tynon”) (collectively “the Parties”) is effective on the 1st day of June 2009 (the “Effective Date”).
SECURITY AGREEMENTSecurity Agreement • June 18th, 2009 • Coil Tubing Technology Holdings, Inc. • Oil & gas field services, nec
This security interest is created to secure the payment by Debtor of that certain Line of Credit Promissory Note of even date herewith (and to secure the renewals, modifications, and extensions of such Line of Credit Promissory Note), in the total principal amount of $250,000.00 (“Promissory Note”), at the rate of interest and on the terms and conditions more fully set forth therein.
EXECUTIVE COMPENSATION AND RETENTION AGREEMENTExecutive Compensation And • June 18th, 2009 • Coil Tubing Technology Holdings, Inc. • Oil & gas field services, nec • Texas
