UPSIDE SHARING PAYMENT AGREEMENTUpside Sharing Payment Agreement • July 2nd, 2004 • Whittier Energy Corp • Oil & gas field exploration services • Texas
This Upside Sharing Payment Agreement (this “Agreement”) is made this 16th day of June 2004, but effective as of March 1, 2004, by and between TEXAS INDEPENDENT EXPLORATION LIMITED, a Texas limited partnership and successor by conversion of Texas Independent Exploration, Inc., GULFCOAST ACQUISITIONS LIMITED, a Texas limited partnership and successor by conversion of Gulfcoast Acquisition Corporation, FREDERICK W. ZIMMERMAN d/b/a ISLAND RESOURCES and FREDERICK W. ZIMMERMAN, individually, hereinafter collectively referred to as “Seller” or “Sellers”) and WHITTIER ENERGY COMPANY, a Nevada corporation (hereinafter referred to as “Buyer”).
