Document:

ex10.1

  
 EXHIBIT 10.01
 

 BILL OF SALE

 AND

 ASSIGNMENT, RELEASE AND ASSUMPTION AGREEMENT
  
 

 THIS BILL OF SALE AND ASSIGNMENT, RELEASE AND ASSUMPTION AGREEMENT (the “Agreement”) is entered into effective the 21st day of February 2013, between Consolidation Services, Inc., a Delaware corporation (“CNSV”) and Hydrocarbons Holdings, Inc., a Delaware corporation (“HH”) and wholly-owned subsidiary of CNSV.
 

 WHEREAS, CNSV desires to transfer substantially all of its oil and gas assets and liabilities to HH, and HH desires to accept such assignment as of the 28th day of February 2013.
 

 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
 

 1.
 CNSV hereby bargains, sells, grants, and delivers to HH all of its right, title, and interest in and to the assets set forth on the attached Exhibit A.
 

 2.
 CNSV hereby assigns and transfers to HH all of its right, title and interest in and to the contracts and agreements set forth on the attached Exhibit B, and HH hereby assumes the liabilities set forth on Exhibit B and all of CNSV’s obligations with respect to the contracts and agreements set forth on Exhibit B and agrees to perform and be obligated by the terms, conditions and provisions thereof.
 

 3.
 HH, for good and valuable consideration, hereby releases and discharges CNSV, its successors and assigns from all actions, causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, claims, and demands whatsoever, in law, admiralty or equity, which against CNSV, HH, HH’s successors and assigns ever had, now have or hereafter can, shall or may, have for, upon or by reason of any matter, cause or thing whatsoever from the beginning of the world to the day of the date of this release.
 

 4.
 HH covenants and agrees, at its sole cost and expense, to indemnify, protect and hold harmless CNSV against and from any and all damages, losses, liabilities, obligations, penalties, claims, litigation, demands, defenses, judgments, suits, proceedings, costs, disbursements or expenses (including, without limitation, attorneys’ fees and disbursements) of any kind or of any nature whatsoever which may at any time be imposed upon, incurred by or asserted or awarded against CNSV, arising out of  the assignments, transfers and transactions referenced in this Agreement.
 

 

 [Remainder of Page Left Intentionally Blank]
 

 
 

 

 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
 

 

 HYDROCARBONS HOLDINGS, INC.
 

 

 By:  /s/ Richard S. Polep
   Richard S. Polep, sole Director
 

 

 CONSOLIDATION SERVICES, INC.
 

 

 By:  /s/ Gary D. Kucher
   Gary D. Kucher, CEO
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 Exhibit A
 

 1.
 All right, title and interest in oil and gas, minerals, and all other oil and gas-related assets (whether or not located, realized or proven) underlying CNSV properties (the “Oil and Gas-Related Assets”).
 

 2.
 Any and all goodwill relating to CNSV’s Oil and Gas-Related Assets, its oil and gas related operations, or its oil and gas-related business as of the date of this Agreement.
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 Exhibit B
 

 1.
 CNSV’s rights and obligations under a Separation and Distribution Agreement dated as of January 1, 2010, by and between Consolidation Services, Inc. and Colt Resources, Inc., including, but not limited to, Section 2.3(a) an ownership royalty interest of 12.5% to Colt Resources in those oil and gas assets included within the Parent (CNSV) Assets as set forth on Schedule C on the Distribution Date.
 

 2.
 All right, title and interest in 39 oil wells and 19 gas wells, a total of 58 wells and related support equipment transferred on April 1, 2010, from the following 12 entities: 
 

 (1)  Energy Production Revenue Fund, LLC
 (2)  Knox Drilling Fund, LLP
 (3)  Knox Drilling Fund II, LLP
 (4)  Appalachian Drilling Fund, LLP
 (5)  Appalachian Drilling Fund II, LLP
 (6)  Annex Drilling Fund, LLP
 (7)  Syroco Energy Corp.
 (8)  Block Production Fund, LLP
 (9)  Rodgers Production Revenue Fund, LLP
 (10)  Production Revenue Drilling Fund, LLP
 (11)  Block City Drilling Fund, LLP
 (12)  Green County Energy Fund, LLP
 

 3.
 All other oil and gas rights, contracts, leases, agreements or deeds that are in CNSV’s name or are to be issued to CNSV pursuant to any binding agreement or option to purchase relating thereto.(1) 
 

 Footnote:
 

 (1) Such transfer of ownership from CNSV to HH shall be evidenced by recordation of the assignment, deed, or other appropriate instrument of conveyance with the respective county land records department, court house, or regulatory authority, as the case may be.Exhibit 10.1 - 2013 STIC Plan - Plan Summary

Exhibit 10.1

DUPONT FABROS TECHNOLOGY, INC.
SHORT TERM INCENTIVE COMPENSATION PLAN

The DuPont Fabros Technology, Inc. Short Term Incentive Compensation Plan (the “STIP”) was adopted on February 21, 2013 by the Compensation Committee of the Board of Directors (the “Committee”) of DuPont Fabros Technology, Inc., a Maryland corporation (the “Company”), to provide annual cash awards to those employees of the Company and its subsidiaries who are in a position to contribute to the achievement by the Company and its subsidiaries of significant improvements in profit performance and growth.  The STIP is intended to comply with the requirements of Section 409A of the Internal Revenue Code, to the extent applicable, and shall be interpreted and administered in a manner consistent with that intent.

The STIP shall be administered by the Committee.  The Committee shall have full power and authority to administer and interpret the STIP and any awards made under the STIP, and its interpretations shall be conclusive and binding on all persons.  The Committee's power and authority shall include, without limitation, the authority to adopt and periodically review such rules and regulations as it deems necessary or advisable in order to properly carry out the provisions and purposes of the STIP.

All salaried employees of the Company shall be eligible to participate in the STIP, other than employees responsible for sales and leasing, who will participate in a sales and leasing plan.  All award years under the STIP shall be calendar years.  The Chief Executive Officer of the Company (the “CEO”) shall designate the specific employees who will participate in the STIP for an award year, and their target award opportunities; provided, however, that the Committee shall be responsible for making final determinations with respect to these and all other material terms of any award for an individual, including the CEO, who is subject to Section 16 of the Securities Exchange Act of 1934.  Each participant's target award opportunity shall be expressed as a percentage of his annual base compensation, with a range from 10% to 100% of annual base compensation.

The CEO (or Committee) may include additional terms in an individual award, or the Committee may adopt rules or regulations relating to all awards relating to the effect of a change in control of the Company or early termination of the participant's employment with the Company.  The CEO (or Committee) may, but shall not be required to, set forth the terms of an award in an individual award agreement.

The CEO (or Committee) shall determine the actual amount of the payout for each participant for an award year relative to the participant's target award opportunity.  One-third of the payout shall be based on the actual funds from operations for 2013 (the “FFO Objective”) compared to the Company's guidance for funds from operations for 2013, as adjusted by the Committee in its discretion for the impact of transactions not contemplated by the Company's FFO guidance figures; one-third shall be based on the participant's achievement of individual goals and objectives (“Individual Goal Objective”); and one-third shall be based on the CEO's (or Committee's) discretion; provided, however, that the Committee may designate for certain participants that payouts will be determined one-half on the FFO Objective and one-half on the Individual Goal Objective.  No payout may exceed 200% of the participant's target award opportunity.

Payouts for an award year shall be determined as set forth above and announced to participants by March 1 following the close of the year, and shall be paid no later than March 15th following the close of the award year.

The selection of an employee as a participant shall not confer any right on the employee to receive an award under the STIP or to continue in the employ of the Company or limit in any way the right of the Company to terminate such participant's employment at any time.

The Board of Directors may amend, suspend or terminate the STIP at any time.

The STIP and any awards under the STIP shall be governed by the laws of the State of Maryland.Exhibit 10.2 - 2013 LTIC Plan - Plan Summary

Exhibit 10.2

DUPONT FABROS TECHNOLOGY, INC.
2013 LONG TERM INCENTIVE COMPENSATION PLAN
The DuPont Fabros Technology, Inc. Long Term Incentive Compensation Plan (the “LTIP”) was adopted effective February 21, 2013, by the Compensation Committee of the Board of Directors (the “Committee”) of DuPont Fabros Technology, Inc., a Maryland corporation (the “Company”) to provide equity-based awards to those employees of the Company and its subsidiaries who are in a position to contribute to the achievement by the Company and its subsidiaries of significant improvements in profit performance and growth.  Awards under the LTIP may take the form of awards of shares of restricted common stock of the Company (“Restricted Stock”), nonqualified options to purchase shares of common stock of the Company (“Stock Options”) and performance-vesting stock units (“Performance Units”). Awards under the LTIP are intended to be exempt from the requirements of Section 409A of the Internal Revenue Code, and the LTIP shall be interpreted and administered in a manner consistent with that intent.
The LTIP shall be administered by the Committee.  The Committee shall have full power and authority to administer and interpret the LTIP and any awards made under the LTIP, and its interpretations shall be conclusive and binding on all persons.  The Committee's power and authority shall include, without limitation, the authority to adopt and periodically review such rules and regulations as it deems necessary or advisable in order to properly carry out the provisions and purposes of the LTIP.
All salaried employees of the Company shall be eligible to participate in the LTIP.  The Chief Executive Officer of the Company (the “CEO”), subject to the approval of the Compensation Committee, shall designate the specific employees who will participate in the LTIP (each, a “Participant”) and establish the amount and form of each Participant's awards. The Compensation Committee shall establish the amount and form of awards for the CEO.
Awards shall be made on or about February 23, 2013.  The form of each award shall be as follows:
		
	•
	For an employee below the senior vice president level, one hundred percent (100%) of the award shall be in the form of Restricted Stock;

		
	•
	For an employee at the senior vice president level, one-half (1⁄2) of the award shall be in the form of Restricted Stock and one-half (1⁄2) of the award shall be in the form of Stock Options;

		
	•
	For employees at the executive vice president level, one-third (1/3) of the award shall be in the form of Restricted Stock, one-third (1/3) of the award shall be in the form of Stock Options, and one-third (1/3) of the award shall be in the form of Performance Units; and

		
	•
	For the CEO, one-half (1⁄2) of the award shall be in the form of Stock Options and one-half (1⁄2) of the award shall be in the form of Performance Units.

The dollar value of each award (or portion of an award) shall be converted into a number of shares of restricted stock, stock options and Performance Units on the award date as follows:
		
	•
	The dollar value of an award (or portion of an award) that is in the form of Restricted Stock shall be converted into Restricted Stock using a price per share of $22.74;

		
	•
	The dollar value of a portion of an award that is in the form of Stock Options shall be converted into stock options using a Black-Scholes value of $4.75 (based on an expected annual dividend yield of 3.54%, an expected life of 5 years, a stock and exercise price of $22.62, 34.1% expected annual volatility, and a risk free rate of return of 0.83%. The exercise price of each Stock Option shall equal the closing price of a share of common stock of the Company on the date of the award; and

		
	•
	The dollar value of an award (or portion of an award) that is in the form of Performance Units shall be converted into Performance Units, using a price per share of $22.74.

Awards of Restricted Stock and Stock Options shall vest over three (3) years, with one-third of each such portion vesting on March 1, 2014, an additional one-third on March 1, 2015, and the remaining one-third on March 1, 2016, in each case only if the Participant remains in continuous Service from the Grant Date through such applicable vesting date.
Awards of Performance Units shall vest if (a) the Participant remains in continuous Service from the Grant Date until March 1, 2016, and (b) the Total Shareholder Return of the Company's Common Stock for the Performance Period, meets or exceeds the return of the MSCI US REIT Index for the 3-year performance period, as such terms are defined by and such criteria are established by the Committee and set forth in the applicable award agreement.
The Compensation Committee may grant additional awards of restricted stock, stock options or Performance Units to any Participant. The CEO (or Committee) may include additional terms in an individual award agreement relating to the effect of a change in control of the Company or early termination of the Participant's employment with the Company.
The selection of an employee as a Participant shall not confer any right on the employee to receive an award under the LTIP or to continue in the employ of the Company or limit in any way the right of the Company to terminate such Participant's employment at any time.
The Board of Directors may amend, suspend or terminate the LTIP at any time.
The LTIP and any awards under the LTIP shall be governed by the laws of the State of Maryland.

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