Document:

Filed by Bowne Pure Compliance

 

EX. 10.73

ASSET LEASE AND PURCHASE AGREEMENT

by and among

Syntroleum Corporation

and

Emerging Fuels Technology, L.L.C.

 

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EX. 10.73

Asset Lease and Purchase Agreement

This Asset Lease and Purchase Agreement (“Agreement”) is dated January 10th,
2008, by and among Emerging Fuels Technology, L.L.C., an Oklahoma limited liability company,
(“Buyer”); and Syntroleum Corporation, a Delaware corporation (“Seller”).

The parties, intending to be legally bound, agree as follows:

1.1 DEFINITIONS

“Assignment and Assumption Agreement” —shall mean the agreement referenced in Section 2.5.

“Assets” -as defined in Section 2.1.

“Assumed Liabilities” -as defined in Section 2.4(a).

“Bill of Sale” -as defined in Section 2.5.

“Breach” -any breach of, or any inaccuracy in, any representation or warranty or any breach
of, or failure to perform or comply with, any covenant or obligation, in or of this Agreement or
any other Contract, or any event which with the passing of time or the giving of notice, or both,
would constitute such a breach, inaccuracy or failure.

“Business Day” -any day other than (a) Saturday or Sunday or (b) any other day on which banks
in Tulsa, Oklahoma are permitted or required to be closed.

“Buyer” -as defined in the first paragraph of this Agreement.

“Buyer Indemnified Persons” -as defined in Section 7.2.

“Closing” -as defined in Section 2.5

“Closing Date” -12:01 a.m. Central Time on the date on which the Closing actually takes place.

“Code” — the Internal Revenue Code of 1986.

“Confidential Information” -as defined in Section 8.1.

“Consent” -any approval, consent, ratification, waiver or other authorization.

“Consumables” —goods purchased on a routing basis for operating the Lab because they wear
out, are expendable, or are used up, in the process of operating the Lab. This includes typical
items such as office supplies, industrial gasses, glassware, chemicals, toiletries, etc.

 

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EX. 10.73

“Contemplated Transactions” -all of the transactions contemplated by this Agreement.

“Contract” -any agreement, contract, Lease, consensual obligation, promise or undertaking
(whether written or oral and whether express or implied), whether or not legally binding.

“Damages” -as defined in Section 7.2.

“Employees” — are James Engman, Bryan Hicks and Ronnie Young.

“Employee Transfer Time"- means 12:01 a.m. Central Standard Time, January 11, 2008.

“Encumbrance” -any charge, claim, community or other marital property interest, condition,
equitable interest, lien, option, pledge, security interest, mortgage, right of way, easement,
encroachment, servitude, right of first option, right of first refusal or similar restriction,
including any restriction on use (other than included in the Lease), transfer, receipt of income or
exercise of any other attribute of ownership, but not including any of the Assumed Liabilities.

“Environment” -soil, land surface or subsurface strata, surface waters (including navigable
waters and ocean waters), ground-waters, drinking water supply, stream sediments, ambient air
(including indoor air), plant and animal life and any other environmental medium or natural
resource.

“Environmental, Health and Safety Liabilities” -any cost, damages, expense, liability,
obligation or other responsibility arising from or under any Environmental Law or Occupational
Safety and Health Law, including those consisting of or relating to:

	 	(a)	 	any environmental, health or safety matter or condition (including on-site or
off-site contamination, occupational safety and health and regulation of any chemical
substance or product);

	 
	 	(b)	 	any fine, penalty, judgment, award, settlement, legal or administrative
proceeding, damages, loss, claim, demand or response, remedial or inspection cost of
expense arising under any Environmental Law or Occupational Safety and Health Law;

	 
	 	(c)	 	financial responsibility under any Environmental Law or Occupational Safety and
Health Law for cleanup costs or corrective action, including any cleanup, removal,
containment or other remediation or response actions (“Cleanup”) required by any
Environmental Law or Occupational Safety and Health Law (whether or not such Cleanup
has been required or requested by any Governmental Body or any other Person) and for
any natural resource damages; or

	 
	 	(d)	 	any other compliance, corrective or remedial measure required under an
Environmental Law or Occupational Safety and Health Law.

 

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EX. 10.73

The terms “removal,” “remedial,” and “response action” include the types of activities covered by
the United States Comprehensive Environmental Response, Compensation and Liability Act to 1980
(CERCLA).

“Environmental Law” -any Legal Requirement that requires or relates to:

	 	(a)	 	advising appropriate authorities, employees or the public of intended or actual
Releases of pollutants or hazardous substances or materials, violations of discharge
limits or other prohibitions and the commencement of activities, such as resource
extraction or construction, that could have significant impact on the Environment;

	 	(b)	 	preventing or reducing to acceptable levels the Release of pollutants or
hazardous substances or materials into the Environment;

	 	(c)	 	reducing the quantities, preventing the Release or minimizing the hazardous
characteristics or wastes that are generated;

	 	(d)	 	assuring that products are designed, formulated, packaged and used so that they
do not present unreasonable risks to human health or the Environment when used or
disposed of;

	 
	 	(e)	 	protecting resources, species or ecological amenities;

	 	(f)	 	reducing to acceptable levels the risks inherent in the transportation of
hazardous substances, pollutants, oil or other potentially harmful substances;

	 	(g)	 	cleaning up pollutants that have been Released, preventing the Threat of
Release or paying the costs of such clean up or prevention; or

	 	(h)	 	making responsible parties pay private parties, or groups of them, for damages
done to their health or the Environment or permitting self-appointed representatives of
the public interest to recover for injuries done to public assets.

“Excluded Assets” -as defined in Section 2.2.

“Facilities” -any leasehold, buildings, structures, fixtures, and improvements currently owned
or operated by Seller at the Lab used or operated by Seller, except the Excluded Assets.

“Governing Documents” —with respect to a particular entity, (a) if a corporation, the
articles or certificate of incorporation and the bylaws, and (b) if a limited liability company,
the articles of organization and operating agreement.

“Governmental Authorization” -any Consent, license, registration or permit relating to the
Seller’s ownership or operation of the Lab issued, granted, given or otherwise made available by or
under the authority of any Governmental Body or pursuant to any Legal Requirement.

“Governmental Body” -any federal, state, local, municipal or other governmental entity,
branch, department, commission or agency.

“Hazardous Activity” -the distribution, generation, handling, importing, management,
manufacturing, processing, production, refinement, Release, storage, transfer, transportation,
treatment or use (including an withdrawal or other use of groundwater) of Hazardous Material in, on, under, about or from any of the Lab or any part thereof into the Environment and any other
act, business, operation or thing that increases the danger, or risk of danger, or poses an
unreasonable risk of harm, to persons or property on or off the Lab.

 

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EX. 10.73

“Hazardous Material” -any substance, material or waste which is or will foreseeably be
regulated by any Governmental Body, including any material, substance or waste which is defined as
a “hazardous waste,” “hazardous material,” “hazardous substance,” “extremely hazardous waste,”
“restricted hazardous waste,” “contaminant,” “toxic waste” or “toxic substance” under any provision
of Environmental Law, and including petroleum, petroleum products, asbestos, presumed
asbestos-containing material or asbestos-containing material, lead based paint, urea formaldehyde
and polychlorinated biphenyls.

“Indemnified Person” -as defined in Section 7.4.

“Indemnifying Person” -as defined in Section 7.4.

“Intellectual Property Assets” — means all the rights in respect of trade marks, service
marks, trade names, domain names, logos, get-up, patents, provisional patents, innovation patents,
petty patents, inventions (whether patentable or not), know-how (including confidential industrial
and commercial information and techniques in any form), utility models, registered and unregistered
design rights, copyrights, semi-conductor topography rights, database rights, rights in respect of
any new or existing compilation of any data or information not covered under any existing
copyrights, any structured analysis, reports, application and any resulting know-how, show-how, use
or any other results originating or following from or as a consequence of data being made available
in respect of any of the aforementioned or part thereof, and all similar proprietary rights which
may subsist in any part of the world including, where such rights are obtained or enhanced by
registration, any registration of such rights and applications and rights to apply for such
registrations, as well as any confidential information or processes relating to that subject matter

“IRS” -the United States Internal Revenue Service and, to the extent relevant, the United
States Department of the Treasury.

“Knowledge” -an individual will be deemed to have Knowledge of a particular fact or other
matter if:

	 	(a)	 	that individual is actually aware of that fact or matter; or

	 
	 	(b)	 	a prudent individual could be expected to discover or otherwise become aware of
that fact or matter in the course of conducting a reasonably comprehensive
investigation regarding the accuracy of any representation or warranty contained in
this Agreement.

A person (other than an individual) will be deemed to have Knowledge of a particular
fact or other matter if any individual who is serving, or who has at any time served, as a
director, officer, partner, executor or trustee of that Person (or in any similar capacity)
has, or at time had, Knowledge of that fact or other matter (as set forth in (a) and (b)
above), and any such individual (and any individual part to the Agreement) will be
deemed to have conducted a reasonably comprehensive investigation regarding the accuracy of
the representations and warranties made herein by that Person or individual.

 

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EX. 10.73

“Lab"- the Facilities and Tangible Personal Property located at 6024 S. 116th E.
Ave., Tulsa, OK 74146.

“Lease” -the lease between Seller and David L. Wenrick Family Trust covering the leased
premises at 6024 South 116th East Avenue, Tulsa, Oklahoma dated June 20, 1997 , as
amended on April 26, 1999, May 23, 2000, May 20, 2003 and March 15, 2006..

“Legal Requirement” -any federal, state, local, municipal or other constitution, law,
ordinance, principle of common law, code, regulation, statute or treaty.

“Liability” -with respect to any Person, any liability or obligation of such Person of any
kind, character or description, whether known or unknown, absolute or contingent, accrued or
unaccrued, disputed or undisputed, liquidated or unliquidated, secured or unsecured, joint or
several, due or to become due, vested or unvested, executory, determined, determinable or
otherwise, and whether or not the same is required to be accrued on the financial statements of
such Person.

“Occupational Safety and Health Law” -any Legal Requirement designed to provide safe and
healthful working conditions and to reduce occupational safety and health hazards, including the
Occupational Safety and Health Act, and any program, whether governmental or private (such as those
promulgated or sponsored by industry and insurance companies), designed to provide safe and
healthful working conditions.

“Order” -any order, injunction, judgment, decree, ruling, assessment or arbitration award of
any Governmental Body or arbitrator.

“Ordinary Course of Business” -an action taken by a Person will be deemed to have been taken
on the Ordinary Course of Business only if that action:

	 	(a)	 	is consistent in nature, scope and magnitude with the past practices of such
Person and is taken in the ordinary course of the normal, day-to-day operations of such
Person;

	 	(b)	 	does not require special authorization by the board of directors or
shareholders of such Person (or by any Person or group of Persons exercising similar
authority) and does not require any other separate or special authorization of any
nature; and

	 	(c)	 	is similar in nature, scope and magnitude to actions customarily taken, without
any separate or special authorization, in the ordinary course of the normal, day-to-day
operations of other Persons that are in the same line of business as such Person.

“Person” -an individual, partnership, corporation, business trust, limited liability company,
limited liability partnership, joint stock company, trust, unincorporated association, joint
venture or other entity or a Governmental Body.

 

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EX. 10.73

“Proceeding” -any action, arbitration, audit, hearing, investigation, litigation or suit
(whether civil, criminal, administrative, judicial, or investigative, whether formal or informal,
whether public or private) commenced, brought, conducted or heard by or before, or otherwise
involving, any Governmental Body or arbitrator.

“Purchase Price” -as defined in Section 2.3.

“Record” -information that is inscribed on a tangible medium or that is stored in an
electronic or other medium and is retrievable in perceivable form.

“Release” -any release, spill, emission, leaking, pumping, pouring, dumping, emptying,
injection, deposit, disposal, discharge, dispersal, leaching, or migration on or into the
Environment or into or out of any property.

“Remedial Action” -all actions, including any capital or operating expenditures, required or
voluntarily undertaken (a) to clean up, remove, treat or in any other way address any Hazardous
Material or other substance; (b) to prevent the Release or Threat of Release or to minimize the
further Release of any Hazardous Material or other substance so it does not migrate or endanger or
threaten to endanger public health or welfare or the Environment; (c) to perform pre-remedial
studies and investigations or post-remedial monitoring and care; or (d) to bring the Lab and the
operations conducted thereon into compliance with Environmental Laws and environmental Governmental
Authorizations.

“Representative” -with respect to a particular Person, any director, officer, manager,
employee, agent, consultant, advisor, accountant, financial advisor, legal counsel or other
representative of that Person.

“Retained Liabilities” — as defined in Section 2.4(b).

“Seller” -as defined in the first paragraph of this Agreement.

“Seller Contract” -any Contract relating to Seller’s ownership or operation of the Lab.

“Software” -all computer software and subsequent versions thereof, including source code,
object, executable or binary code, objects, comments, screens, user interfaces, report formats,
templates, menus, buttons, and icons and all files, data materials, manuals, design notes,
specialized use of publicly available computer available software, including man to machine
interface, and other items and documentation related thereto or associated therewith.

“Subsidiary” -with respect to any Person (the “Owner”), any corporation or other Person of
which securities or other interests having the power to elect a majority of that corporation’s or
other Person’s board of directors or similar governing body, or otherwise having the power to
direct the business and policies of that corporation or other Person (other than securities or
other interests having such power only upon the happening of a contingency that has not occurred),
are held by the Owner or one or more of its Subsidiaries.

 

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EX. 10.73

“Tangible Personal Property” -all machinery, equipment, tool, furniture, office equipment,
computer hardware, supplies, materials, and other items of tangible personal property (other than
Consumables) relating to the Lab and other property owned by Seller listed on Schedule 2.7,
excluding the Excluded Assets.

“Tax” -any income, gross receipts, license, payroll, employment excise, severance, property
environmental, vehicle, or other title or registration, capital stock, franchise employees’ income
withholding, withholding, social security, unemployment, disability, real property, personal
property, sales, use, transfer, value added, alternative, add-on minimum and other tax, fee,
assessment, levy, tariff, charge or duty of any kind whatsoever and any interest, penalty, addition
or additional amount thereon imposed, assessed or collected by or under the authority of any
Governmental Body.

“Tax Return” -any return (including any information return), report, statement, schedule,
notice, form, declaration, claim for refund or other document or information filed with or
submitted to, or required to be filed with or submitted to, any Governmental Body in connection
with the determination, assessment, collection or payment of any Tax or in connection with the
administration, implementation or enforcement of or compliance with any Legal Requirement relating
to any Tax.

“Third Party” -a Person that is not a party to this Agreement.

“Third-Party Claim” -any claim against any Indemnified Person by a Third Party, whether or not
involving a Proceeding.

“Threat of Release” -a reasonable likelihood of a Release that may require action in order to
prevent or mitigate damage to the Environment that may result from such Release.

1.2 USAGE

	 	(a)	 	Interpretation. In this Agreement, unless a clear intention appears:

	 	(i)	 	the singular number includes the plural number and vice
versa;

	 
	 	(ii)	 	reference to any Person includes such Person’s successors and
assigns but, if applicable, only if such successors and assigns are not
prohibited by this Agreement, and reference to a Person in a particular
capacity excludes such a Person in any other capacity or individually;

	 
	 	(iii)	 	reference to any gender includes each other gender;

	 
	 	(iv)	 	reference to any agreement, document or instrument means such
agreement, document or instrument as amended or modified and in effect from
time to time in accordance with the terms thereof;

	 
	 	(v)	 	reference to any Legal Requirement means such Legal Requirement
as amended, modified, codified, replaced or reenacted, in whole or in part, and
in effect from time to time, including rules and regulations promulgated
thereunder, and reference to any section or other provision of any Legal
Requirement means that provision of such Legal Requirement
from time to time in effect and constituting the substantive amendment,
modification, codification, replacement or reenactment of such section or
other provision;

 

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EX. 10.73

	 	(vi)	 	“hereunder,” “hereof,” “hereto,” and words of similar import
shall be deemed references to this Agreement as a whole and not to any
particular Article, Section or other provision hereof;

	 	(vii)	 	“including” (and with correlative meaning “include”) means
including without limiting the generality of any description preceding such
term;

	 
	 	(viii)	 	“or” is used in the inclusive sense of “and/or”;

	 	(ix)	 	with respect to the determination of any period of time, “
from” means “from and including” and “to” means “to but excluding”; and

	 	(x)	 	references to documents, instruments or agreements shall be
deemed to refer as well to all addenda, exhibits, schedules or amendments
thereto.

	 	(b)	 	Legal Representation of the Parties. This Agreement was negotiated by the
parties with the benefit of legal representation, and any rule of construction or
interpretation otherwise requiring this Agreement to be construed or interpreted
against any part shall not apply to any construction or interpretation hereof.

Article 2. Sale and Transfer of Assets; Closing

2.1 ASSETS TO BE SOLD

Upon the terms and subject to the conditions set forth in this Agreement, at the Closing, but
effective as of the Closing Date, Seller shall sell, convey, assign, transfer and deliver to Buyer,
and Buyer shall purchase and acquire from Seller, free and clear of any Encumbrances by, through or
under Seller, all of Seller’s right, title and interest in and to the following of Seller’s
property and assets relating to the Lab, (but excluding the Excluded Assets):

	 	(a)	 	All Tangible Personal Property excluding those items listed on Schedule 2.2;

	 	(b)	 	All Consumables, however Seller does not guarantee minimum quantities of
Consumables;

	 	(c)	 	that portion of the remaining contracted amount relating to services performed
for World GTL Trinidad Limited pursuant to the contract set forth in Schedule 3.4(a)
which occur after the execution of this Agreement;

	 	(d)	 	those Records related to Seller’s ownership or operations of the Lab, including
service and warranty Records, equipment logs, operating guidelines and manuals, and,
subject to Legal Requirements, copies of all personnel Records and other Records
relating to the Employees, excluding any Software listed on Schedule 2.1(e), Seller
shall make copies of (paper and electronic) and deliver to Seller copies all operating
guidelines and manuals ;

All of the property and assets to be transferred to Buyer hereunder, excluding the Excluded
Assets are herein referred to collectively as the “Assets.”

 

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EX. 10.73

2.2 EXCLUDED ASSETS

Notwithstanding anything to the contrary contained in Section 2.1 or elsewhere in this
Agreement, the assets of Seller not specifically listed in Section 2.1 or stated as excluded in
Section 2.1, including those items listed on Schedule 2.2 (collectively, the “Excluded Assets”) are
not part of the sale and purchase contemplated hereunder and are excluded from the Assets and shall
remain the property of the Seller after the Closing. Buyer and Seller agree that no Intellectual
Property Assets of Seller or rights to use Intellectual Property Assets of Seller are being
transferred to Buyer pursuant to this Agreement.

2.3 CONSIDERATION

The consideration to be paid by Buyer to Seller pursuant to this Agreement will be (a) fifty
thousand dollars ($50,000) (the “Purchase Price”) and (b) the assumption of the Assumed
Liabilities. The Purchase Price shall be delivered by Buyer to Seller by cashier’s check within
two (2) business days of the execution of this Agreement.

2.4 LIABILITIES

	 	(a)	 	Assumed Liabilities. Effective upon the execution of this Agreement, Buyer
shall assume, pay for, and agree to discharge the following Liabilities, including
those of Seller (the “Assumed Liabilities”):

	 	(i)	 	any Liability arising out of or relating to the ownership or
operation of the Lab after the execution of this Agreement, including any Taxes
assessed after execution of this Agreement, any general and administrative or
operating costs (including costs of the Employees or other personnel retained
by the Buyer) , and any costs under the Lease.

	 	(ii)	 	any Liability arising after the execution of this Agreement
under the Seller Contracts described in Schedule 3.4(a) (other than any
Liability arising out of or relating to a Breach that occurred prior to the
execution of this Agreement);

	 	(iii)	 	any Environmental, Health and Safety Liabilities arising out
of or relating to the ownership or operation of the Lab both before and after
the execution date of this Agreement;

	 	(iv)	 	any Liability relating to the Employees subject to the
conditions set out in 6.1(a); and

	 	(v)	 	any Liability to Air Liquide relating to (A) the use of
trailers for the transportation and storage of 25% carbon monoxide balanced
nitrogen and (B) 21 sixpack cylinders for the storage of carbon monoxide (C)
any other materials or supplies owned by Air Liquide (D) any Consumables.

	 	(b)	 	Retained Liabilities. The Retained Liabilities shall remain the sole
responsibility of and shall be retained, paid, performed and discharged solely by
Seller. “Retained Liabilities” shall mean every Liability of Seller other than the
Assumed Liabilities, including:

	 	(i)	 	any Liability arising out of or relating to the Lab prior to
the execution of this Agreement other than to the extent assumed under Section
2.4(a);

 

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EX. 10.73

	 	(ii)	 	any Liability under any Seller Contract assumed by Buyer
pursuant to Section 2.4(a) that arises after the execution of this Agreement
but that arises out of or relates to any Breach that occurred prior to the
execution of this Agreement;

	 	(iii)	 	any Liability for Taxes arising as a result of Seller’s
operations of its business or ownership of the Lab prior to the execution of
this Agreement,;

	 	(iv)	 	any Liability under the employee benefit plans or relating to
payroll, vacation, sick leave, worker’s compensation, unemployment benefits,
pension benefits, employee stock option or profit-sharing plans, health care
plans or benefits or any other employee benefits of any kind for the Employees
relating to any time prior to the Employee Transfer Time;

	 	(v)	 	any Liability arising out of any Proceeding commenced after the
execution of this Agreement and arising out of or relating to any occurrence or
event happening prior to the execution of this Agreement, except as provided in
Section 2.4(a)(iii) and (iv); and

	 	(vi)	 	any Liability of Seller under this Agreement or any other
document executed in connection with the Contemplated Transactions.

2.5 CLOSING

The purchase and sale provided for in this Agreement (the “Closing”) will take place at the
offices of the Seller at 4322 S. 49th W. Ave., Tulsa, Oklahoma, commencing at 10:00 a.m.
(local time) two (2) business days after Buyer and Seller agree that the provisions of Section 6.3
have been completed, but in no case later than March 31, 2008. Failure to consummate the purchase
and sale provided for in this Agreement by March 31, 2008 and at the place determined pursuant to
this Section 2.5 will not result in the termination of this Agreement and will not relieve any
party of any obligation under this Agreement. In such a situation, the Closing will occur as soon
as practicable but no later than June 30, 2008 or Seller may terminate this Agreement (retaining
the Purchase Price). At the Closing, Seller shall deliver to Buyer a Bill of Sale covering the
Tangible Personal Property which Bill of Sale shall be in the form of Exhibit 2.5(a). Buyer shall
deliver (i) a waiver and release covering Environmental Liabilities in the form of Exhibit 2.5(b)
and (ii) an Assignment and Assumption of Lease in a form acceptable to Seller or a cancellation of
the Lease executed by the landlord under the Lease

2.6 OBLIGATIONS OF BUYER

In addition to any other documents to be delivered under other provisions of this Agreement,
in-turn with the execution of this Agreement, Buyer shall deliver to Seller:

	 	(i)	 	fifty thousand dollars ($50,000) by cashier’s check made out to
Seller; and

	 
	 	(ii)	 	Executed waivers and releases from the Employees acceptable to Seller.

 

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EX. 10.73

	2.7	 	TANGIBLE PERSONAL PROPERTY

	 	(a)	 	Effective upon execution of this Agreement, Seller shall lease to Buyer the
Tangible Personal Property, including the items listed on Schedule 2.7 but
excluding the items listed on Schedule 2.2. The lease payment shall be one dollar
per month. This lease shall continue until the Closing Date. During the time of the
lease of the Tangible Personal Property Buyer shall be responsible to (i) maintain
and operate the Tangible Personal Property in accordance with those procedures
previously utilized by Seller and as set forth in the operating guides and
procedures for such equipment and property, and (ii) pay all utilities, rent,
insurance on the Lease, and all other costs of owning and operating the Lab,
including any costs relating to the Employees or any other personnel retained by
Buyer and payment for Consumables.

	 	(b)	 	NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, EXCEPT FOR THE EXPRESS
REPRESENTATIONS AND WARRANTIES OF SELLER IN ARTICLE 3, BUYER HEREBY ACKNOWLEDGES AND
AGREES (I) THAT NONE OF SELLER OR ANY OF ITS AFFILIATES OR REPRESENTATIVES HAS MADE OR
IS MAKING ANY REPRESENTATION OR WARRANTY WHATSOEVER, EXPRESS OR IMPLIED, WRITTEN OR
ORAL, INCLUDING ANY IMPLIED REPRESENTATION OR WARRANTY AS TO THE CONDITION,
MERCHANTABILITY, USAGE, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE WITH RESPECT
TO THE LAB, THE ASSETS, THE TANGIBLE PERSONAL PROPERTY OR ANY PART THEREOF AND (II)
THAT BUYER IS PURCHASING THE LAB AND THE ASSETS, AND LEASING AND PURCHASING THE
TANGIBLE PERSONAL PROPERTY “AS-IS, WHERE-IS, WITH ALL FAULTS”.

Article 3. Representations and Warranties of Seller and Shareholders

Seller represents warrants to Buyer as follows:

	3.1	 	ORGANIZATION AND GOOD STANDING

	 
	 	 	Seller is a corporation duly organized, validly existing and in good standing under the laws
of its jurisdiction of incorporation, with full corporate power and authority to conduct its
business as it is now being conducted, to own or use the properties and assets that it
purports to own or use, and to perform all its obligations under the Seller Contracts.
Seller is duly qualified to do business as a foreign corporation and is in good standing
under the laws of Oklahoma.

	 
	3.2	 	ENFORCEABILITY; AUTHORITY; NO CONFLICT

	 	(a)	 	This Agreement constitutes the legal, valid and binding obligation of Seller,
enforceable against it in accordance with its terms. Upon the execution and delivery
by Seller of each agreement to be executed or delivered by Seller upon execution of
this Agreement and at the Closing (collectively, the “Seller’s Closing Documents”),
each of Seller’s Closing Documents will constitute the legal, valid and binding
obligation of Seller, enforceable against Seller in accordance with its
terms. Seller has the absolute and unrestricted right, power and authority to
execute and deliver this Agreement and the Seller’s Closing Documents to which it is
a party and to perform its obligations under this Agreement and the Seller’s Closing
Documents, and such action has been duly authorized by all necessary action by its
board of directors.

 

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EX. 10.73

	 	(b)	 	Neither the execution and delivery of this Agreement nor the consummation or
performance of any of the Contemplated Transaction will, directly or indirectly (with
or without notice or laps of time):

	 	(i)	 	Breach (A) any provision of any of the Governing Documents of
Seller or (B) any resolution adopted by the board of directors of Seller:

	 	(ii)	 	Breach or give any Governmental Body or other Person the right to
challenge any of the Contemplated Transactions or to exercise any remedy or
obtain any relief under any Legal Requirement or any Order to which Seller, or
any of the Assets, may be subject;

	 	(iii)	 	Breach any provision of, or give any Person the right to declare
a default or exercise any remedy under, or to accelerate the maturity or
performance of, or payment under, or to cancel, terminate or modify, any Seller
Contract;

	3.3	 	LEGAL PROCEEDINGS; ORDERS

	 	(a)	 	Except as set forth in Schedule 3.3(a), as of the Closing Date, there is no
pending or, to Seller’s Knowledge, threatened Proceeding, including any pursuant to any
Environmental Law;

	 	(i)	 	by or against Seller or that otherwise relates to or may affect
the business of, or any of the Assets; or

	 
	 	(ii)	 	that challenges, or that may have the effect of preventing,
delaying, making, illegal or otherwise interfering with, any of the Contemplated
Transactions.

To the Knowledge of Seller, as of the Closing Date, no event has occurred or
circumstances exists that is reasonably likely to give rise to or serve as a basis
for the commencement of any such Proceeding.

	 	(b)	 	Except as set forth in Schedule 3.3(a), to the Knowledge of Seller, there is no
Order to which Seller, the Lab or any of the Assets is subject.

	3.4	 	CONTRACT; NO DEFAULTS

	 
	 	 	Schedule 3.4(a) contains an accurate and complete list in all material respects, and Seller
has delivered to Buyer accurate and complete copies, of each Seller Contract relating to the
Lab.

	 
	3.5	 	BROKERS OR FINDERS

	 
	 	 	Neither Seller nor any of its Representatives have incurred any obligation or liability,
contingent or otherwise, for brokerage or finders’ fees or agents’ commissions or other
similar payments in connection with the sale of the Lab or the Assets or the Contemplated
Transactions.

 

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EX. 10.73

	3.6	 	FAIR PRICE

	 
	 	 	The consideration being paid by Buyer including the assumption of the Assumed Liabilities by
Buyer constitutes a fair price for the Assets.

	 
	3.7	 	SOLVENCY

	 
	 	 	As of the Closing Date, Seller is not insolvent and will not be rendered insolvent by the
Contemplated Transactions. As used in this section, “insolvent” means that the sum of the
debts and other probable liabilities of Seller exceeds the present fair value saleable value
of Seller’s assets.

	 
	3.8	 	CONSENTS

	 
	 	 	As of the Closing Date, each of the Consents identified in Schedule 3.2(c) shall have been
obtained and are in full force and effect or waived.

Article 4. Representations and Warranties of Buyer

Buyer represents and warrants to Seller as follows:

4.1 ORGANIZATION AND GOOD STANDING

Emerging Fuels Technology, L.L.C. is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Oklahoma, with full corporate power
and authority to conduct its business as it is now conducted.

	4.2	 	AUTHORITY; NO CONFLICT

	 	(a)	 	This Agreement constitutes the legal, valid and binding obligation of Buyer,
enforceable against Buyer in accordance with its terms. Upon the execution and
delivery by Buyer of each agreement to be executed or delivered by Buyer upon the
execution of this Agreement and at Closing (collectively, the “Buyer’s Closing
Documents”), each of the Buyer’s Closing Documents will constitute the legal, valid and
binding obligation of Buyer, enforceable against Buyer in accordance with its
respective terms. Buyer has the absolute and unrestricted right, power and authority
to execute and deliver this Agreement and the Buyer’s Closing Documents and to perform
their obligations under this Agreement and the Buyer’s Closing Documents, and such
action has been duly authorized by all necessary corporate or individual action.

	 
	 	(b)	 	Neither the execution nor delivery of this Agreement by Buyer nor the
consummation or performance of any of the Contemplated Transactions by Buyer
will give any person the right to prevent, delay or otherwise interfere with any of
the Contemplated Transactions pursuant to:

 

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EX. 10.73

	 	(i)	 	any provision of Buyer’s Governing Documents;

	 
	 	(ii)	 	any resolution adopted by the managers or the members of Buyer;

	 
	 	(iii)	 	any Legal Requirement or Order to which Buyer may be subject; or

	 
	 	(iv)	 	any Contract to which is a party or by which Buyer may be bound.

Buyer is not and will not be required to obtain any Consent from any Person in
connection with the execution and delivery of this Agreement or the consummation or
performance of any of the Contemplated Transactions.

4.3       CERTAIN PROCEEDINGS

There is no pending Proceeding that has been commenced against Buyer and that challenges, or
may have the effect of preventing, delaying, making illegal or otherwise interfering with, any of
the Contemplated Transactions. To Buyer’s Knowledge, no such Proceeding has been threatened.

4.4      BROKERS OR FINDERS

Neither Buyer nor any of its Representatives have incurred any obligation of liability,
contingent or otherwise, for brokerage or finders’ fees or agents’ commissions or other similar
payment in connection with the Contemplated Transactions.

Article 5. Covenants of Buyer

5.1      REQUIRED APPROVALS

As promptly as practicable after the date of this Agreement, Buyer shall make, or cause to be
made, all filings required by Legal Requirements to be made by it to consummate the Contemplated
Transactions. Buyer also shall cooperate, and cause its Representatives, subsidiaries and
affiliates to cooperate, with Seller with respect to all filings Seller shall be required by Legal
Requirements to make, provided, however, that Buyer shall not be required to dispose of or make any
changes to its business, expend any material funds or incur any other burden in order to comply
with this Section 5.1.

Article 6. POST-CLOSING AGREEMENTS

	6.1	 	EMPLOYEES AND EMPLOYEE BENEFITS

	 	(a)	 	Salaries and Benefits.

	 	 	 	Seller shall be responsible for the payment of all wages and other remuneration due
to the Employees with respect to their services as employees of Seller through the
Employee Transfer Time. Upon payment by Buyer of the retention payments to those of
the Employees who qualify on July 1, 2008, Seller shall pay to Buyer
pro-rata the retention payments made to the Employees within ten (10) business days
of receipt of an invoice from Buyer.

 

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EX. 10.73

	 	(b)	 	General Employee Provisions.

	 	(i)	 	Seller and Buyer shall give any notices required by Legal
Requirements and take whatever other actions with respect to the plans, programs
and policies described in this Section 6.1 as may be necessary to carry out the
arrangements described in this Section 6.1.

	 	(ii)	 	Seller shall not have any responsibility, liability, or
obligation, whether to the Employees, their beneficiaries or to any other
Person, with respect to any employee benefit plans, practices, programs or
arrangements (including the establishment, operation or termination thereof and
the notification and provision of COBRA coverage extension) maintained by Buyer.

6.2      PAYMENT OF ALL TAXES RESULTING FROM SALES OF ASSETS BY SELLER

Buyer shall pay in a timely manner all Taxes resulting from or payable in connection with the
sale of the Assets and the lease and ultimate sale of the Tangible Personal Property pursuant to
this Agreement, regardless of the Person on whom such Taxes are imposed by Legal Requirements.

6.3      ASSUMED LIABILITIES

(a) Buyer shall pay, or make adequate provision as provided below for the payment in full of,
all of the Assumed Liabilities and other Liabilities of Buyer under this Agreement. In the event
that any Employee revokes the waiver and release provided to Seller, Buyer shall be responsible for
and defend and indemnify Seller for any Liabilities relating to such Employee, including but not
limited to any severance, taxes, medical expenses, and benefits or payments of any type including
associated employer taxes

(b) Buyer, at its cost but subject to the limit set forth in Section 6.3(c) below, agrees that
it will take the following actions and shall use its best efforts to conclude such actions prior to
March 31, 2008:

	 	(i)	 	conduct a phase one environmental assessment of the Lab and its
operations using a third party contractor acceptable to Seller; and

	 
	 	(ii)	 	perform any testing recommended in the phase one environmental
assessment called for in Section 6.3(b)(i) above; and

	 
	 	(iii)	 	perform any Remedial Action recommended by the third party
contractor or required by a Governmental Body resulting from the testing and the
phase one environmental assessment; and

	 
	 	(iv)	 	complete any interaction with any Governmental Body which may
result or be required from the actions taken in Sections 6.3(b) (i), (ii), and
(iii).

	 	(c)	 	Buyer shall bear all the costs to conduct the actions set forth in Section
6.3(b) up to the amount of $250,000. In the event the costs to complete the actions set
forth in Section 6.3(b) are to exceed $250,000, Seller and Buyer shall meet and
determine a mutually agreeable course of action which can include, among others,
Seller bearing all costs in excess of $250,000, terminating this Agreement, or
reducing the costs to complete the actions.

 

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EX. 10.73

	 	(d)	 	If Buyer breaches this Agreement by refusing or failing to complete the actions
set forth in Section 6.3(b) within a reasonable time period, Seller shall have the
right to terminate this Agreement, Buyer shall vacate the Lab and Seller shall retain
the Purchase Price.

6.4      REMOVING EXCLUDED ASSETS

As mutually agree, Seller shall remove all Excluded Assets from the Lab. Such removal shall
be done in such manner as to minimize any damage, ordinary wear and tear excepted, to the Lab and
any disruption of the business operations to be conducted by Buyer after the Closing. Buyer shall
have the right to utilize the Excluded Assets until such time that Seller provided Buyer thirty
(30) days prior notice that it intends to remove the Excluded Assets form the Lab. Upon receipt of
the written notice from Seller, Buyer, at Buyers cost, shall promptly purge the equipment which
makes up the Excluded Assets, clean and prepare the Excluded Assets for removal by Seller. Buyer
shall have the Excluded Assets prepared for removal by the end of the thirty (30) day period set
forth in the written notice form Seller.

6.5      REPORTS AND RETURNS

Seller shall promptly after the Closing prepare and file all reports and returns required by
Legal Requirements relating to the business of Seller as conducted using the Assets, to and
including the Effective Time.

6.6      ASSISTANCE IN PROCEEDINGS

Seller will cooperate with Buyer and its counsel in the contest or defense of, and make
available its personnel and provide any testimony and access to its books and Records in connection
with, any Proceeding involving or relating to (a) any Contemplated Transaction or (b) any action,
activity, circumstance, condition, conduct, event, fact, failure to act, incident, occurrence,
plan, practice, situation, status or transaction on or before the Closing Date involving the Lab.

6.7      RETENTION OF AND ACCESS TO RECORDS

Buyer shall retain for a period consistent with Buyer’s record-retention policies and
practices those Records of Seller delivered to Buyer. Buyer also shall provide Seller and its
Representatives reasonable access to the Lab and the Records, during normal business hours and on
reasonable prior written notice, to enable them to prepare financial statements or tax returns,
deal with tax audits, to verify Buyer’s performance under this Agreement, or to assist in the
actions required under Section 6.3. Seller shall provide Buyer and its Representatives reasonable
access to Records that are Excluded Assets, during normal business hours pm on reasonable prior
written notice, for any reasonable business purpose specified by Buyer in such notice.

 

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EX. 10.73

Article 7. Indemnification; Remedies

7.1      SURVIVAL

All representations, warranties, covenants and obligations in this Agreement and any other
certificate or document delivered pursuant to this Agreement shall survive the Closing and the
consummation of the Contemplated Transactions. The right to indemnification, reimbursement or
other remedy based upon such representations, warranties, covenants and obligations shall not be
affected by any investigation (including any environmental investigation or assessment) conducted
with respect to, or any Knowledge acquired (or capable of being acquired) at any time, whether
before or after the execution and delivery of this Agreement or the Closing Date, with respect to
the accuracy or inaccuracy of or compliance with any such representation, warranty, covenant or
obligation. The waiver of any condition based upon the accuracy of any representation or warranty,
or on the performance of or compliance with any covenant or obligation, will not affect the right
to indemnification, reimbursement or other remedy based upon such representations, warranties,
covenants and obligations.

7.2      INDEMNIFICATION AND REIMBURSEMENT BY SELLER

Seller will indemnify and hold harmless Buyer, and its Representatives, shareholders,
subsidiaries, and affiliates (collectively, the “Buyer Indemnified Persons”), and will reimburse
the Buyer Indemnified Persons for any loss, liability, claim, damage, expense (including costs of
investigation and defense and reasonable attorneys’ fees and expenses) whether or not involving a
Third-Party Claim (collectively, “Damages”), arising from or in connection with:

	 	(a)	 	any Breach of any representation or warranty made by Seller in (i) this
Agreement, (ii) any transfer instrument or, (iii) any other certificate, document,
writing or instrument delivered by Seller pursuant to this Agreement;

	 	(b)	 	any Breach of any covenant or obligation of Seller in this Agreement or in any
other certificate, document, writing, or instrument delivered by Seller pursuant to
this Agreement;

	 	(c)	 	any Liability arising out of the ownership or operation of the Assets prior to
the Effective Time other than the Assumed Liabilities;

	 	(d)	 	any brokerage or finders’ fees or commissions or similar payments based upon
any agreement or understanding made, or alleged to have been made, by any Person with
Seller (or any Person acting on its behalf) in connection with any of the Contemplated
Transactions; or

	 
	 	(e)	 	any Retained Liabilities.

 

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EX. 10.73

7.3      INDEMNIFICATION AND REIMBURSEMENT BY BUYER

Buyer will indemnify and hold harmless Seller and its Representatives, shareholders,
subsidiaries and affiliates (collectively, the “Seller Indemnified Persons”), and will reimburse
the Seller Indemnified Persons for any Damages arising from or in connection with:

	 	(a)	 	any Breach of any representation or warranty made by Buyer in this Agreement or
in any certificate, document, writing, or instrument delivered by Buyer pursuant to
this Agreement;

	 	(b)	 	any Breach of any covenant or obligation of Buyer in this Agreement or in any
other certificate, document, writing or instrument delivered by Buyer pursuant to this
Agreement;

	 	(c)	 	any claim by any Person for brokerage or finders’ fees or commissions or
similar payments based upon any agreement or understanding alleged to have been made by
such Person with Buyer (or any Person acting on Buyer’s behalf) in connection with any
of the Contemplated Transactions;

	 
	 	(d)	 	any Assumed Liabilities; or

	 
	 	(e)	 	any Liability arising out of the ownership or operation of the Assets after the
Effective Time.

7.4      THIRD-PARTY CLAIMS

	 	(a)	 	Promptly after receipt by a Person entitled to indemnity under Sections 7.2 or
7.3 (an “Indemnified Person”) of notice of the assertion of a Third-Party Claim against
it, such Indemnified Person shall give notice to the Person obligated to indemnify
under such Section (an “Indemnifying Person”) of the assertion of such Third-Party
Claim, provided that the failure to notify the Indemnifying Person will not relieve the
Indemnifying Person of any liability that it may have to any Indemnified Person, except
to the extent that the Indemnifying Person demonstrates that the defense of such
Third-Party Claim is prejudiced by the Indemnified Person’s failure to give such
notice.

	 	(b)	 	If an Indemnified Person gives notice to the Indemnifying Person pursuant to
Section 7.4(a) of the assertion of a Third-Party Claim, the Indemnifying Person shall
be entitled to participate in the defense of such Third-Party Claim and, to the extent
that it wishes (unless (i) the Indemnifying Person is also a Person against whom the
Third-Party Claim is made and the Indemnified Person determines in good faith that
joint representation would be inappropriate or (ii) the Indemnifying Person fails to
provide reasonable assurance to the Indemnified Person of its financial capacity to
defend such Third-Party Claim and provide indemnification with respect to such
Third-Party Claim), to assume the defense of such Third-Party Claim with counsel
satisfactory to the Indemnified Person. After notice from the Indemnifying Person to
the Indemnified Person of its election to assume the defense of such Third-party Claim,
the Indemnifying Person shall not, so long

 

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EX. 10.73

as it diligently conducts such defense, be liable to the Indemnified Person under
this Article 7 for any fees of other counsel or any other expenses with respect to
the defense of such Third-Party Claim, in each case subsequently incurred by the
Indemnified Person in connection with the defense of such Third-Party Claim, other
than reasonable costs of investigation. If the Indemnifying Person assumes the
defense of the Third-Party Claim, (i) such assumption will conclusively establish for
purposes of this Agreement that the claims made in that Third-Party Claim are within
the scope of and subject to indemnification, and (ii) no compromise or settlement of
such Third-Party Claims may be effected by the Indemnifying Person without the
Indemnified Person’s Consent unless (A) there is no finding or admission of any
violation of a Legal Requirement or any violation of the rights of any Person; (B)
the sole relief provided is monetary damages that are paid in full by the
Indemnifying Person; and (C) the Indemnified Person shall have no liability with
respect to any compromise or settlement of such Third-Party Claims effected without
its Consent. If notice is given to an Indemnifying Person of the assertion of any
Third-Party Claim and the Indemnifying Person does not, within ten (10) business days
after the Indemnified Person’s notice is given, give notice to the Indemnified Person
of its election to assume the defense of such Third-Party Claim, the Indemnifying
Person will be bound by any determination made in such Third-Party Claim or any
compromise or settlement effected by the Indemnified Person.

	 	(c)	 	Notwithstanding the foregoing, if an Indemnified Person determines in good
faith that there is a reasonable probability that a Third-Party Claim may adversely
affect it or its Representatives, subsidiaries or affiliates other than as a result of
monetary damages for which it would be entitled to indemnification under this
Agreement, the Indemnified Person may, by notice to the Indemnifying Person, assume the
exclusive right to defend, compromise or settle such Third-Party Claim, but the
Indemnifying Person will not be bound by any determination of any Third-Party Claim so
defended for the purposes of this Agreement or any compromise or settlement effected
without its Consent (which may not be reasonably withheld).

	 	(d)	 	With respect to any Third-Party Claim subject to indemnification under this
Article 7: (i) both the Indemnified Person and the Indemnifying Person, as the case may
be, shall keep the other Person informed ob the status of such Third-Party Claim and
any related Proceedings at all stages thereof where such Person is not represented by
its own counsel, and (iii) the parties agree (each at its own expense) to render to
each other such assistance as they may reasonably require of each other and to
cooperate in good faith with each other in order to ensure the proper and adequate
defense of any Third-Party Claim.

	 	(e)	 	With respect to any Third-Party Claim subject to indemnification under this
Article 7, the parties agree to cooperate in such a manner as to preserve in full (to
the extent possible) the confidentiality of all Confidential Information and the
attorney-client and work-product privileges. In connection therewith, each party
agrees that: (i) it will use commercially reasonable efforts, in respect of any Third-Party Claim in which it has assumed or participated in the defense, to avoid
production of Confidential Information (consistent with applicable law and rules of
procedure), and (ii) all communications between any party hereto and counsel
responsible for or participating in the defense of any Third-Party Claim shall, to
the extent possible, be made so as to preserve any applicable attorney-client or
work-product privilege.

 

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EX. 10.73

7.5      INDEMNIFICATION IN CASE OF STRICT LIABILITY OR INDEMNITEE NEGLIGENCE

THE INDEMNIFICATION PROVISIONS IN THIS ARTICLE 7 SHALL BE ENFORCEABLE REGARDLESS OF WHETHER
THE LIABILITY IS BASED UPON PAST, PRESENT OR FUTURE ACTS, CLAIMS OR LEGAL REQUIREMENTS (INCLUDING
ANY PAST, PRESENT OR FUTURE BULK SALES LAW, ENVIRONMENTAL LAW, FRAUDULENT TRANSFER ACT,
OCCUPATIONAL SAFETY AND HEALTH LAW OR PRODUCTS LIABILITY, SECURITIES, OR OTHER LEGAL REQUIREMENT)
AND REGARDLESS OF WHETHER ANY PERSON (INCLUDING THE PERSON FROM WHOM INDEMNIFICATION IS SOUGHT)
ALLEGES OR PROVES THE SOLE, CONCURRENT, CONTRIBUTORY OR COMPARATIVE NEGLIGENCE OF THE PERSON
SEEKING INDEMNIFICATION OR THE SOLE OR CONCURRENT STRICT LIABILITY IMPOSED UPON THE PERSON SEEKING
INDEMNIFICATION.

Article 8. Confidentiality and Post-Closing Obligations

	8.1	 	CONFIDENTIAL INFORMATION

	 	(a)	 	As used in this Article 8, the term “Confidential Information” includes any and
all of the following information of Seller or Buyer that has been or may hereafter be
disclosed in any form, whether in writing, orally, electronically or otherwise, or
otherwise made available by observation, inspection or otherwise by either party (Buyer
on the one hand or Seller on the other hand) or its Representatives (collectively, a
“Disclosing Party”) to the other party or its Representatives (collectively, a
“Receiving Party”):

	 	(i)	 	all information that is a trade secret under applicable trade
secret or other law;

	 
	 	(ii)	 	all information concerning product specification, data,
know-how, formulae, compositions, processes, designs, sketches, photographs,
graphs, drawings, samples, inventions and ideas, past, current and planned
research and development, procedures, accounting methods, risk assessment
methods, economic analyses, manufacturing costs, production costs, labor costs,
corporate goals, strategic plans, current and planned manufacturing or
distribution methods and processes, customer lists, current and anticipated
customer requirements, price lists, market studies, business plans, computer
hardware, Software and computer software and database technologies, systems,
structures and architectures;

 

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EX. 10.73

	 	(iii)	 	all information concerning the business and affairs of the
Disclosing Party (which includes historical and current financial statements,
financial projections and budgets, tax returns and accountants’ materials,
historical, current and projected sales, capital spending budgets and plans,
business plans, strategic plans, marketing and advertising plans, publications,
client and customer lists and files, contracts, the names an backgrounds of key
personnel and personnel training techniques and materials, however documented),
and all information obtained from review of the Disclosing Party’s documents or
property or discussions with the Disclosing Party regardless of the form of the
communication; and

	 
	 	(iv)	 	all notes, analyses, compilations, studies, summaries and other
material prepared by the Receiving Party to the extent containing or based, in
whole or in part, upon any information included in the foregoing.

	 	(b)	 	Any trade secrets of a Disclosing Party shall also be entitled to all of the
protections and benefits under applicable trade secret law and any other applicable
law. If any information that a Disclosing Party deems to be a trade secret is found by
a court of competent jurisdiction not be a trade secret for purposes of this Article 8,
such information shall still be considered Confidential Information of that Disclosing
Party for purposes of this Article 8 to the extent included within the definition. In
the case of trade secrets, each of Buyer and Seller hereby waives any requirement that
the other party submits proof of the economic value of any trade secret or posts a bond
or other security.

	8.2	 	RESTRICTED USE OF CONFIDENTIAL INFORMATION

	 	(a)	 	Each Receiving Party acknowledges the confidential and proprietary nature of
the Confidential Information of the Disclosing Party and agrees that such Confidential
Information (i) shall be kept confidential by the Receiving Party; (ii) shall not be
used for any reason or purpose other than to evaluate and consummate the Contemplated
Transactions; and (iii) without limiting the foregoing, shall not be disclosed by the
Receiving Party to any Person, except in each case as otherwise expressly permitted by
the terms of this Agreement or with the prior written consent of an authorized
representative of Seller with respect to Confidential Information of Seller (each, a
“Seller Contact”) or an authorized representative of Buyer with respect to Confidential
Information of Buyer (each, a “Buyer Contact”). Buyer shall not disclose to third
parties, without Seller’s prior written consent, any of Seller’s Confidential
Information, including but not limited to, Seller’s research, production, operational,
or testing methods, results, or calculation techniques and shall not use Seller’s
Confidential Information as a basis for developing competing methods, results or
calculation techniques. Each of Buyer and Seller shall disclose the Confidential
Information of the other party only to its Representatives who require such material
for the purpose of evaluating the Contemplated Transactions and are informed by Buyer
or Seller as the case may be, of the obligations of this Article 8 with respect to such
information. Each of Buyer and Seller shall (iv) enforce the terms of this Article 8 as
to it respective Representatives (v) take such action to extent necessary to cause its Representatives
to comply with the terms and conditions of this Article 8; and (vi) be responsible
and liable for any breach of the provisions of this Article 8 by it or its
Representatives. Notwithstanding the above, Buyer shall have the right to use those
trade secrets of Seller listed on Schedule 8.2(a) which relate only to the operation
of the equipment located in the Lab and shall not be free to transfer any of such
trade secrets to Third Parties.

 

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EX. 10.73

8.3      EXCEPTIONS

Section 8.2(a) does not apply to that part of the Confidential Information of a Disclosing
Party that a Receiving Party demonstrates (a) was, is or becomes generally available to the public
other than as a result of a breach of this Article 8 by the Receiving Party or its Representatives;
(b) was or is developed by the Receiving Party independently of and without reference to any
Confidential Information of the Disclosing Party; or (c) was, is or becomes available to the
Receiving Party on a non-confidential basis from a Third Party not bound by a confidentiality
agreement or any legal, fiduciary or other obligation restricting disclosure.

8.4      LEGAL PROCEEDINGS

If a Receiving Party becomes compelled in any Proceeding or is requested by a Governmental
Body having regulatory jurisdiction over the Contemplated Transactions to make any disclosure that
is prohibited or otherwise constrained by this Article 8, that Receiving Party shall provide the
Disclosing Party with prompt notice of such compulsion or request so that it may seek an
appropriate protective order or other appropriate remedy or waive compliance with the provisions of
this Article 8. In the absence of a protective order or other remedy, the Receiving Party may
disclose that portion (and only that portion) of the Confidential Information of the Disclosing
Party that, based upon advice of the Receiving Party’s counsel, the Receiving Party is legally
compelled to disclosure or that has been requested by such Governmental Body, provided, however,
that the Receiving Party shall use reasonable efforts to obtain reliable assurance that
confidential treatment will be accorded by any Person to whom any Confidential Information is so
disclosed. The provisions of this Section 8.4 do not apply to any Proceedings between the parties
to this Agreement.

8.5      RETURN OR DESTRUCTION OF CONFIDENTIAL INFORMATION

If this Agreement is terminated, each Receiving Party shall (a) destroy all Confidential
Information of the Disclosing Party prepared or generated by the Receiving Party without retaining
a copy of any such material; (b) promptly deliver to the Disclosing Party all other Confidential
Information of the Disclosing Party, together with all copies thereof, in the possession, custody
or control of the Receiving Party or, alternatively, with the written consent of a Seller Contact
or Buyer Contact (whichever represents the Disclosing Party) destroy all such Confidential
Information; and (c) certify all such destruction in writing to the Disclosing Party, provided,
however, that the Receiving Party may retain a list that contains general descriptions of the information it has returned or destroyed to facilitate the resolution of any controversies
after the Disclosing Party’s Confidential Information is returned.

 

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EX. 10.73

8.6      ATTORNEY-CLIENT PRIVILEGE

The Disclosing Party is not waiving, and will not be deemed to have waived or diminished, any
of it attorney work product protections, attorney-client privileges or similar protections and
privileges as a result of disclosing its Confidential Information (including Confidential
Information related to pending or threatened litigation) to the Receiving Party, regardless of
whether the Disclosing Party has asserted, or is or may be entitled to assert, such privileges and
protections. The parties (a) share a common legal and commercial interest in all of the Disclosing
Party’s Confidential Information that is subject to such privileges and protections; (b) are or may
become joint defendants in Proceedings to which the Disclosing Party’s Confidential Information
covered by such protections and privileges relates; (c) intended that such privileges and
protections remain intact should either party become subject to any actual or threatened Proceeding
to with the Disclosing Party’s Confidential Information covered by such protections and privileges
relates; and (d) intend that after the Closing the Receiving Party shall have the right to assert
such protections and privileges. No Receiving Party shall admit, claim or contend, in Proceedings
involving either party or otherwise, that any Disclosing Party waived any of its attorney work
product protections, attorney-client privileges or similar protections and privileges with respect
to any information, documents or other material not disclosed to a Receiving Party due to the
Disclosing Party disclosing it Confidential Information (including Confidential Information related
to pending or threatened litigation) to the Receiving Party.

8.7      SELLER’S USE OF LAB

Seller and Buyer agree that if Seller requests that Buyer provide catalyst laboratory reactor
services for Seller that the fee for those services shall be $350 per 24 hour run day per catalyst
reactor. As to other services to be provided by Buyer, Seller shall provide Buyer a list of the
testing services which it would be prepared to have Buyer conduct for Seller. Buyer shall provide
Seller a price list for the services it is prepared to offer to conduct for Seller. In the event
that Seller is prepared to have a third party provide the services which Buyer conducts, Seller
may, but is not required to, notify Buyer that it has a third party offer and the terms of such
third party offer. Buyer shall have three (3) business days after receipt of the notice from Seller
to match the third party offer or shall decline to do so. Buyer shall notify Seller whenever it
changes it rates that it charges its customers and shall provide Seller the most favorable rates it
is charging to any customer.

8.8      RIGHT OF FIRST REFUSAL

Should Buyer desire to sell all or any part of its interests in the Assets, it shall promptly
give written notice to Seller, with full information concerning its proposed disposition, which
shall include the name and address of the prospective transferee (who must be ready, willing and
able to purchase), the purchase price, and all other terms of the offer. Seller shall then have an
optional prior right, for a period of thirty(30) business days after the notice is delivered, to
notify Buyer that it wishes to purchase for the stated consideration on the same terms and
conditions the

 

24

 

EX. 10.73

interest which the Buyer proposes to sell. However, there shall be no preferential right to
purchase in those cases where Buyer wishes to mortgage its interests, or to transfer title to its
interests to its mortgagee in lieu of or pursuant to foreclosure of a mortgage of its interests or
by transfer of its interests to a subsidiary or parent company or to a subsidiary of a parent
company, or to any company in which such party owns a majority of the stock. If the Seller elects
to reacquire the Assets from Buyer, the closing of the transaction shall occur within sixty (60)
calendar days of the receipt by Buyer of Seller’s written notice that it desires to reacquire the
Assets for the consideration stated above.

Article 9. General Provisions

9.1      EXPENSES

Except as otherwise provided in this Agreement, each party to this Agreement will bear its
respective fees and expenses incurred in connection with the preparation, negotiation, execution
and performance of this Agreement and the Contemplated Transactions, including all fees and expense
of its Representatives.

9.2      PUBLIC ANNOUNCEMENTS

Seller and Buyer will consult with each other concerning the means by which Seller’s
employees, customers, suppliers and others having dealings with Seller will be informed of the
Contemplated Transactions.

9.3      NOTICES

All notices, Consents, waivers and other communications required or permitted by this
Agreement shall be in writing and shall be deemed given to a party when (a) delivered to the
appropriate address by hand or by nationally recognized overnight courier service (costs prepaid);
(b) sent by facsimile or e-mail with confirmation of transmission by the transmitting equipment; or
(c) received or rejected by the addressee, if sent by certified mail, return receipt requested, in
each case to the following addresses, facsimile numbers or e-mail addresses and marked to the
attention of the person (by name or title) designated below (or to such other address, facsimile
number, e-mail address or person as a party may designate by notice to the other parties):

To Seller:

     Syntroleum Corporation

     4322 South 49th West Avenue

     Tulsa, Oklahoma 74107

     Attention: President

     Fax no.:    (918) 592-7979

     Tel:        (918) 592-7900

     E-mail address: groth@syntroleum.com

 

25

 

EX. 10.73

To Buyer:

     Emerging Fuels Technology, L.L.C.

     6024 South 116th East Avenue

     Tulsa, Oklahoma 74146

     Attention: Kenneth L. Agee

     Fax no.:    (918) 252-7739

     Tel:        (918) 252-7606

     E-mail address:                                         

	9.4	 	JURISDICTION; SERVICE OF PROCESS

	 	(a)	 	Subject to Section 9.4(b) below, any Proceeding arising out of or relating to
this Agreement or any Contemplated Transaction may be brought in the courts of the
State of Oklahoma, County of Oklahoma, or, if it has or can acquire jurisdiction, in
the United States District Court for the Western District of Oklahoma, and each of the
parties irrevocably submits to the exclusive jurisdiction of each such court in any
such Proceeding, waives any objection it may now or hereafter have to venue or to
convenience of forum, agrees that all claims in respect of the Proceeding shall be
heard and determined only in any such court and agrees not to bring any Proceeding
arising out of or relating to the Agreement or any Contemplated Transaction in any
other court. The parties agree that either or both of them may file a copy of the
paragraph with any court as written evidence of the knowing, voluntary and bargained
agreement between the parties irrevocably to waive any objections to venue or to
convenience pf forum. Process in any Proceeding referred to in the first sentence of
this section may be served on any party anywhere in the world.

	 
	 	 	 	THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF
OR RELATING TO THIS AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS, WHETHER NOW
EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.
THE PARTIES AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT
AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE
PARTIES IRREEVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY PROCEEDING WHATSOEVER
BETWEEN THEM RELATING TO THIS AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS
SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING
WITHOUT A JURY.

	 	(b)	 	Any dispute arising out of or in connection with this Agreement, including any
question regarding its existence, validity or termination, shall be addressed
exclusively in the following priority order:

	 	(1)	 	Negotiation. The Employee and the
Company shall arrange a meeting, at a mutually convenient time by phone
or in person, to discuss the issues of each Party and negotiate for a
resolution of the dispute. The period of negotiation shall extend no longer than
thirty (30) calendar days from the first meeting of the negotiators.

 

26

 

EX. 10.73

	 	(2)	 	Mediation. If the Parties have failed
to resolve the dispute by negotiation, the Parties shall submit to
mediation prior to seeking resolution by binding arbitration. The
Parties will cooperate with one another in selecting a mediator from
the American Arbitration Association panel of neutrals, which shall be
requested to promptly schedule the mediation proceedings. The parties
covenant that they will participate in the mediation in good faith, and
that they will each bear their own costs. All offers, promises,
conduct and statements, whether oral or written, made in the course of
the mediation by any of the parties, their agents, employees, experts
and attorneys, and by the mediator, are expected to be treated as
confidential, privileged and inadmissible for any purpose, including
impeachment, in any arbitration or other proceeding involving the
parties, provided that evidence that is otherwise admissible or
discoverable shall not be rendered inadmissible or non-discoverable as
a result of its use in the mediation. If the dispute is not resolved
within thirty (30) calendar days from the date of the submission of the
dispute to mediation (or such later date as the parties may mutually
agree in writing), the administration of the arbitration shall proceed
forthwith. The mediation may continue, if the parties so agree, after
the appointment of the arbitrators. Unless otherwise agreed by the
parties, the mediator shall be disqualified from serving as arbitrator
in the case. The pendency of a mediation shall not preclude a party
from seeking provisional remedies, such as a temporary or permanent
injunction or restraining order to prevent a continuing harm to a
Party, in aid of the arbitration from a court of appropriate
jurisdiction, and the parties agree not to defend against any
application for provisional relief on the ground that a mediation is
pending.

	 	(3)	 	Arbitration. Within five (5) business
days of the conclusion of the Parties’ mediation, any dispute, claim or
controversy arising out of or relating to this Agreement or the breach,
termination, enforcement, interpretation or validity thereof, including
the determination of the scope or applicability of this Agreement to
arbitrate, shall be determined by binding arbitration in Tulsa,
Oklahoma, before three (3) arbitrators. The arbitration shall be
administered by the American Arbitration Association pursuant to its
Commercial Rules for Arbitration. The arbitrators’ award may be
enforced in Tulsa County District Court, the United States District
Court for the Northern District of Oklahoma or in any other court
having jurisdiction over the parties. This clause shall not preclude
the Parties from seeking provisional remedies in aid of arbitration,
such as a temporary or permanent injunction or
restraining order to prevent a continuing harm to a Party, from a
court of appropriate jurisdiction. The Parties covenant that they
will participate in the arbitration in good faith, and that they will
each bear their own costs. The provisions of this clause may be
enforced by any court of competent jurisdiction, and the Party
seeking enforcement shall be entitled to an award of all costs, fees
and expenses, including attorneys’ fees, to be paid by the Party
against whom enforcement is ordered.

 

27

 

EX. 10.73

	 	(4)	 	The Parties agree that the dispute resolution
priority set forth herein is a material term of this agreement and that
the damages for failure to comply with the dispute resolution priority
are and would be difficult to measure. Consequently, the Parties agree
that in the event a Party elects to ignore the dispute resolution
priority order requirements set forth in this Section 9.4(b), the Party
making the election shall be obligated for all (internal and external)
costs, fees and expenses, including attorneys’ fees, of the other
Party, regardless of how the dispute is ultimately decided. In other
words, any Party electing to forego the dispute resolution priority in
Section 9.4(b) also elects to pay the fees, costs and expenses of the
other Party even if the electing Party ultimately prevails. The
dispute resolution priority order requirement specified in this Section
9.4(b) may be amended, modified, or waived only upon the agreement, in
writing, of the Parties.

9.5      ENFORCEMENT OF AGREEMENT

Each party acknowledges and agrees that the other party would be irreparably damaged if any of
the provisions of this Agreement are not performed in accordance with their specific terms and that
any Breach of this Agreement by the defaulting party could not be adequately compensated in all
bases by monetary damages alone. Accordingly, in addition to any other right or remedy to which
Buyer or Seller may be entitled, at law or in equity, the now defaulting party shall be entitled to
enforce any provision of this Agreement by a decree of specific performance and to temporary,
preliminary and permanent injunctive relief to prevent Breaches or Threatened Breaches of any of
the provisions of this Agreement, without posting any bond or other undertaking.

9.6      WAIVER; REMEDIES CUMULATIVE

The rights and remedies of the parties to this Agreement are cumulative and not alternative.
Neither any failure nor any delay by any party in exercising any right, power or privilege under
this Agreement or any of the documents referred to in this Agreement will operate as a waiver of
such right, power or privilege, and no single or partial exercise of any such right, power or
privilege will preclude any other or further exercise of such right, power or privilege or the
exercise of any other right, power or privilege. To the maximum extent permitted by applicable law,
(a) no claim or right arising out of this Agreement or any of the documents referred to in this
Agreement can be discharged by on party, in whole or in part, by a waiver or renunciation of the claim or right unless in writing signed by the other party; (b) no waiver
that may be given by a party will be applicable except in the specific instance for which it is
given; and (c) no notice to or demand on one party will be deemed to be a waiver of any obligation
of that party or the right of the party giving such notice or demand to take further action without
notice or demand as provided in this Agreement or the documents referred to in this Agreement.

 

28

 

EX. 10.73

9.7      ENTIRE AGREEMENT AND MODIFICATION

This Agreement supersedes all prior agreements, whether written or oral, between the parties
with respect to its subject matter (including any letter of intent and any confidentiality
agreement between Buyer and Seller) and constitutes (along with the Exhibits, Schedules and other
documents delivered pursuant to this Agreement) a complete and exclusive statement of the terms of
the agreement between the parties with respect to its subject matter. This Agreement may not be
amended, supplemented, or otherwise modified except by a written agreement executed by the party to
be charged with the amendment.

9.8      ASSIGNMENTS, SUCCESSORS AND NO THIRD-PARTY RIGHTS

No party may assign any of its rights or delegate any of its obligations under this Agreement
without the prior written consent of the other parties. Subject to the preceding sentence, this
Agreement will apply to, be binding in all respects upon and inure to the benefits of the
successors and permitted assigns of the parties. Nothing express or referred to in this Agreement
will be construed to give any Person other than the parties to this Agreement any legal or
equitable right, remedy or claim under or with respect to this Agreement or any provision of this
Agreement, except such rights as shall inure to a successor or permitted assignee pursuant to this
Section 9.8.

9.9      SEVERABILITY

If any provision of this Agreement is held invalid or unenforceable by any court of competent
jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any
provision of this Agreement held invalid or unenforceable only in part or degree will remain in
full force and effect to the extent not help invalid or unenforceable.

9.10      CONSTRUCTION

The headings of Articles and Sections in this Agreement are provided for convenience only and
will not affect its construction or interpretation. All references to “Articles,” “Sections”,
“Exhibits” and “Schedules” refer to the corresponding Articles, Sections, Exhibits and Schedules of
this Agreement.

9.11      TIME OF ESSENCE

With regard to all dates and time periods set forth or referred to in this Agreement, time is
of the essence.

 

29

 

EX. 10.73

9.12      GOVERNING LAW

This Agreement will be governed by and construed under the laws of the State of Oklahoma
without regard to conflicts-of-laws principles that would require the application of any other law.

9.13      EXECUTION OF AGREEMENT

This Agreement may be executed in one or more counterparts, each of which will be deemed to be
an original copy of this Agreement and all of which, when taken together, will be deemed to
constitute one and the same agreement. The exchange of copies of this Agreement and of signature
pages by facsimile transmission shall constitute effective execution and delivery of this Agreement
as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures
of the parties transmitted by facsimile shall be deemed to be their original signatures for all
purposes.

Agreement as of the date first written above.

Buyer: EMERGING FUELS TECHNOLOGY, L.L.C.

By: /s/ Kenneth Agee

Seller: SYNTROLEUM CORPORATION

By: /s/ Karen L. Gallagher

 

30

 

EX. 10.73

Schedule 2.1(e) Excluded Software

1. DeltaV Software

2. Pi Process Book Software

3. Softshop Software

4. Lookout Software

 

31

 

EX. 10.73

Schedule 2.2 Excluded Assets

1. 6 CSTRs numbered 20-25 and all appurtenant pi-ping, instrumentation and related equipment

2. 2 gas control systems linked with the CSTRs listed in 1) above

3. One gas header panel

4. One micro GC system

5. Analyzer and Sample System

6. Delta V Control Panel

7. 2 Delta V Control Stations

8. Delta V Operator Station

9. PI database Server

10. SSR Panel

1 Dell Precision 380 Workstation

1 Dell Precision 370 Workstation

1 Dell Optiplex 380

4 Dell 17” LCD Monitors

3 Dell 380 Precision Towers

1 Dell 340 Precision

The Excluded Assets are described on the diagrams attached hereto as Attachments 1-10

 

32

 

EX. 10.73

 Exhibit 2.5(a) Bill of Sale

Syntroleum Corporation, a corporation existing under the laws of the state of Delaware, in
consideration of $50,000.00 and other consideration paid to it by Emerging Fuels Technology,
L.L.C., of Tulsa, Oklahoma, the receipt of which is acknowledged, grants and sells to Emerging
Fuels Technology, L.L.C.,, its executors, administrators, and assigns, the following-described
goods and chattels:

Those items listed on Schedule 2.7 of the Asset Lease and Purchase Agreement dated January 10,
2008 between Syntroleum Corporation and Emerging Fuels Technology, L.L.C.

All these goods and chattels are transferred to Emerging Fuels Technology, L.L.C., its
administrators, executors and assigns to their own use forever

And Syntroleum Corporation covenants with Emerging Fuels Technology, L.L.C., that it is the
lawful owner of the goods and chattels, that they are free from all encumbrances, and that it has
good right to sell them. The goods and chattels are being sold “AS IS WHERE IS”; SYNTROLEUM
EXPRESSLY DISCLAIMS ANY WARRANTIES OF ANY KIND, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE OR TRANSFERABLITY AS RELATED TO SOFTWARE.

In witness, this bill of sale is signed this
 _____ 
day of                      2008.

	 	 	 	 	 	 	 	 	 
	Syntroleum Corporation	 	 	 	Emerging Fuels Technology, L.L.C.
	 
	 	 	 	 	 	 	 	 
	Name:

	 	Karen Gallagher
	 	 	 	Name:
	 	Ken Agee
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Karen L. Gallagher
	 	 	 	By:
	 	/s/ Kenneth Agee
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Title:

	 	Sr. Vice President of Finance/PFO
	 	 	 	Title:
	 	Owner/President
	 

	 	 
	 	 	 	 	 	 

 

33

 

EX. 10.73

Exhibit 2.5(b) Waiver and Release of Environmental Liabilities

Buyer, in consideration of the assets being purchased pursuant to the Agreement, agrees to waive
all of Buyer’s claims against and release , defend and indemnify Syntroleum Corporation and its
predecessors, successors and assigns (collectively referred to as the “Company”), all of the
affiliates (including parents and subsidiaries) of the Company (collectively referred to as the
“Affiliates”) and the Company’s and Affiliates’ directors and officers, employees and agents, and
insurers, (collectively, with the Company and Affiliates, referred to as the “Corporate Group”)
from any and all claims, demands, actions, liabilities and damages arising out of or relating in
any way to Environmental, Health and Safety Liabilities relating to the Lab; provided, however,
that this Waiver and Release shall not apply to any claim or cause of action to enforce or
interpret any provision contained in the Agreement. Buyer, among other things, (1) agrees not to
sue in any local, state and/or federal court regarding or relating in any way to the Environmental,
Health and Safety Liabilities relating to the Lab, and (2) knowingly and voluntarily waive all
claims and release the Corporate Group from any and all claims, demands, actions, liabilities, and
damages, whether known or unknown, arising out of or relating in any way to the Environmental,
Health and Safety Liabilities relating to the Lab.

In witness, this waiver and release of environmental liabilities is signed this
 _____ 
day of                      2008.

	 	 	 	 	 	 	 	 	 
	Syntroleum Corporation	 	 	 	Emerging Fuels Technology, L.L.C.
	 
	 	 	 	 	 	 	 	 
	Name:

	 	Karen Gallagher
	 	 	 	Name:
	 	Ken Agee
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	/s/ Karen L. Gallagher
	 	 	 	By:
	 	/s/ Kenneth Agee
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Title:

	 	Sr. Vice President of Finance/PFO
	 	 	 	Title:
	 	Owner/President
	 

	 	 
	 	 	 	 	 	 

 

34

 

EX. 10.73

Schedule 2.7 Tangible Personal Property

	 	 	 
	# of items	 	Furniture and Misc. items
	12

	 	Chair — cloth
	12

	 	Chair — cloth high-back desk
	10

	 	Chair — Cloth roller
	6

	 	Chair — leather
	1

	 	Clothes Rack
	1

	 	Dishwasher
	6

	 	Dry erase board
	1

	 	Free-standing Toolbox
	1

	 	Freezer
	3

	 	Kitchen roller caddy
	2

	 	Metal — large rack
	1

	 	Metal — tool rack
	1

	 	Microwave
	1

	 	Plastic rack — 5-shelf
	6

	 	Redwood — 5-shelf bookcase
	2

	 	Redwood cabinet
	3

	 	Redwood Counter
	2

	 	Redwood desk
	1

	 	Redwood desk — 2-section
	2

	 	Redwood desk — 3-section
	1

	 	Redwood/Black round table
	1

	 	Refrigerator
	1

	 	Shredder machine
	1

	 	Sofa w/matching chair
	1

	 	Steel / laminate desk — 3-section with hutch
	1

	 	Steel / laminate table
	1

	 	Steel / laminate table — rectangle
	1

	 	Steel / laminate table — square
	1

	 	Steel 1-drawer roller cart
	3

	 	Steel 3-drawer side table
	2

	 	Steel bookcase — 5-shelf
	3

	 	Steel cabinet
	1

	 	Steel counter
	1

	 	Steel file cabinet — 2-drawer
	2

	 	Steel file cabinet — 2-drawer lateral
	5

	 	Steel file cabinet — 4 drawer
	1

	 	Steel file cabinet — 4-drawer lateral
	5

	 	Steel work stations
	8

	 	Wing-back leather chair
	2

	 	Wood Bookcase — 3-shelf
	2

	 	Wood bookcase — 5-shelf
	1

	 	Wood cabinet w/3 shelves
	1

	 	Wood Coffee Table
	1

	 	Wood side table — square
	1

	 	Wood sign-in shelf
	1

	 	Wood table — round

 

35

 

EX. 10.73

	 	 	 
	# of items	 	Computer, Printers, etc. equipment
	10

	 	10 Cisco IP Phones
	4

	 	3 Dell Optiplex GX620
	2

	 	2 Dell D6xx Series Laptops
	1

	 	1 Dell D8xx Series Laptops
	1

	 	Cisco 1760v Router
	8

	 	7 Dell 17” LCD Monitors
	1

	 	HP 4250 MFP Fax/Printer
	9

	 	9 Copies Microsoft Office 2003
	2

	 	2 Copies Microsoft Windows Server 2003
	2

	 	2 Copies Microsoft Windows Server 2000
	1

	 	Dell PowerEdge 2650 Server
	1

	 	Dell PowerEdge 850 Server
	1

	 	Dell LTO Autoloader Tape Drive
	2

	 	2 Cisco Catalyst 3550 PoE Switches
	1

	 	42u Dell Server Rack
	9

	 	9 Copies Microsoft Windows XP
	3

	 	3 Copies Microsoft Windows NT
	2

	 	2 Gateway e4400 Desktops
	1

	 	HP 4550 Color LaserJet Printer
	1

	 	Multiple 21’ LCD Monitors
	1

	 	19” TV
	2

	 	2 HP LH300 Servers
	1

	 	Gateway e42 Desktop
	1

	 	HP 4050 Laserjet
	1

	 	VCR
	1

	 	Sharp Notevision Projector

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	1	 	 	FID EPC Module
	# of items

	 	Lab Equipment
	 	 	1	 	 	Auxiliary EPC
	1

	 	Hayesep C Analytical Column
	 	 	1	 	 	OHaus Top-Loading Balance
	1

	 	16-Port Air Actuated Valve
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	Rotor
	 	 	1	 	 	Micro GC Refinery Gas Analyzer
	1

	 	Mass Flow Controller — Methane
	 	 	1	 	 	Thermocouple calibrator
	1

	 	Mass Flow Controller — Air
	 	 	1	 	 	Thermolyne Furnace
	1

	 	Mass Flow Controller — N2
	 	 	1	 	 	Fixed Bed Reactor
	1

	 	Mass Flow Controller — Hydroge
	 	 	1	 	 	Fixed Bed Reactor
	1

	 	4-Channel Controller Box
	 	 	1	 	 	Fixed Bed Reactor
	1

	 	Model 500D Pump
	 	 	1	 	 	Fixed Bed Reactor
	1

	 	Mettler-Toledo Balance
	 	 	1	 	 	Programmable Temp Control
	1

	 	Panametrics Oxygen Transmitter
	 	 	1	 	 	Wilden P2 Metal Pump
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	Brooks Mass Flow Controller

 

36

 

EX. 10.73

	 	 	 	 	 	 	 	 	 
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	NDIR Analyzer
	 	 	1	 	 	S.S. Gas Purifier (3000 psi)
	1

	 	Power Cord Kit
	 	 	1	 	 	Digi-Sense Temp Controller
	1

	 	1” Fluid Bed Reduction Vessel
	 	 	1	 	 	LEL Gas Monitor
	1

	 	Model 880A NDIR Analyzer
	 	 	1	 	 	O2 Gas Monitor
	1

	 	Power Cord Kit for NDIR Analyz
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	Back Pressure Regulator
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	Fore Pressure Regulator
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	Control Tower
	 	 	1	 	 	Brooks Mass Flow Controller
	1

	 	100,000 BTU Gas Furnace
	 	 	1	 	 	1” Fixed Bed Reactor
	1

	 	6-Ton Outdoor Condensing Unit
	 	 	1	 	 	Mass Flow
	1

	 	Stainless Steel Gas Purifier
	 	 	1	 	 	Ultrasonic Processor
	1

	 	Stainless Steel Gas Purifier
	 	 	1	 	 	1” Fluidized Bed Reduc. Vessel
	1

	 	Ohaus Top-Loading Balance
	 	 	1	 	 	Nilfisk Vacuum
	1

	 	Control Tower & E050ss
	 	 	1	 	 	500ml Eze-Seal Reactor
	1

	 	Balance Weight Set
	 	 	1	 	 	1000ml Eze-Seal Reactor
	1

	 	Particle Size Analyzer
	 	 	1	 	 	Control Tower
	1

	 	Thermocouple Module
	 	 	1	 	 	Conversion Kit, 500ml to 1000m
	1

	 	Thermocouple Module
	 	 	1	 	 	1” FBR Vessel
	1

	 	Thermocouple Module
	 	 	1	 	 	80/20 Control Panel Frame
	1

	 	Analog Input Card
	 	 	1	 	 	500 CC 316 SS Vessel
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	C-1 Press Rings (30 ea.)
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	Silver Plated Press Rings (35)
	1

	 	Brooks Mass Flow Controller
	 	 	1	 	 	Magnedrive Complete Assembly
	1

	 	Panametrics Dewpoint Meter
	 	 	1	 	 	ppm O2 Sensor for Analyzer
	1

	 	Custom Sample System
	 	 	1	 	 	CSTR-1 Cover (Cap)
	1

	 	Process Controller
	 	 	1	 	 	Hydro 2000 SM small volume sam
	1

	 	Oxygen Transmitter
	 	 	1	 	 	DryCal CD-Lite low flow
	1

	 	Sample System
	 	 	1	 	 	DryCal CD-Lite medium flow
	1

	 	Panametrics Dewpoint Meter
	 	 	1	 	 	1/2 HP CSTR Motor
	1

	 	Custom Sample System
	 	 	1	 	 	Cylinder-2” x 36”, 3/4 “ cap
	1

	 	Process Controller
	 	 	1	 	 	Cylinder-2” x 36”, 3/4 “ cap
	1

	 	NDIR Analyzer
	 	 	1	 	 	Cylinder-2” x 36”, 3/4 “ cap
	1

	 	1” Fixed Bed Reactor
	 	 	1	 	 	Cylinder-2” x 36”, 3/4 “ cap
	1

	 	Purged Packed Inlet EPC
	 	 	1	 	 	Cylinder-2” x 36”, 3/4 “ cap
	1

	 	Cylinder-2” x 36”, 3/4 “ cap
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Cylinder-2” x 36”, 3/4 “ cap
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Cylinder-2” x 36”, 3/4 “ cap
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	500 mL vessel & cover/CSTR-4
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Silver Plated Press Rings (50)
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	2-Wide Power/Control Carrier
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	2-Wide Power/Control Carrier
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	MD Controller
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Controller Redundancy
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	24/12 Vdc Sys Power Supply
	 	 	1	 	 	Tescom Fore-pressure regulator

 

37

 

EX. 10.73

	 	 	 	 	 	 	 	 	 
	1

	 	Analog Output Card
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Analog Input Card, thermocoupl
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Analog Input Card, thermocoupl
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Discrete Input Card
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Discrete Input Card
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Discrete Output Card
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	8-wide I/O Interface Carrier
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	8-wide I/O Interf Carr w/shiel
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	8-wide I/O Interf Carr w/shiel
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Precision WS380 Minitower
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Precision WS380 Minitower
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Precision WS380 Minitower
	 	 	1	 	 	Tescom Fore-pressure regulator
	1

	 	Analog Control Output 50 DSTs
	 	 	1	 	 	Tescom Back-pressure regulator
	1

	 	Analog Monitor Input 75 DSTs
	 	 	1	 	 	Tescom Back-pressure regulator
	1

	 	Discrete Control Output 100
	 	 	1	 	 	Tescom Back-pressure regulator
	1

	 	Application Station 250 DV
	 	 	1	 	 	Tescom Back-pressure regulator
	1

	 	Cont Hist 1K parameters scaleu
	 	 	1	 	 	Tescom Back-pressure regulator
	1

	 	Pro Plus Workstati s/w 300 DST
	 	 	1	 	 	Tescom Back-pressure regulator
	1

	 	Op Workstation s/w 300 DST
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	Delta V s/w Media Pack v 7.3
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	8-port 10/100 base-TX Switch
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	8-port 10/100 base-TX Switch
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	Rittal SDSA 70x32x16 Std Desig
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	Analog input card, 4020A 4-wir
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	Analog input card, 4020A 4-wir
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	Analog input card, 4020A 4-wir
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	Tescom Fore-pressure regulator
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	Tescom Fore-pressure regulator
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	Tescom GC sample regulator
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	3-way 316ss ball valve w/
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	Custom fabricated Gas Control
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	Pressure Vessel
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	Pressure Vessel
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	Pressure Vessel
	 	 	1	 	 	3-way 316ss ball valve w/
	1

	 	Lindberg Mini-Mite Tube Furnac	 	 	 	 	 	 
	1

	 	2-way, 1/2” 316ss ball valve	 	 	 	 	 	 
	1

	 	HVAC System and service	 	 	 	 	 	 
	1

	 	Part No. VE4003S2B3	 	 	 	 	 	 
	1

	 	Oxygen trap catalyst	 	 	 	 	 	 

 

38

 

EX. 10.73

	 	 	 	 	 	 	 	 	 
	1

	 	Oxygen trap catalyst	 	 	 	 	 	 
	1

	 	Argon supply manifold	 	 	 	 	 	 
	1

	 	Industrial CO manifold	 	 	 	 	 	 
	1

	 	Oxygen trap recharge activatio	 	 	 	 	 	 
	1

	 	Oxygen trap recharge activatio	 	 	 	 	 	 
	1

	 	Defender 510 flow caibrator	 	 	 	 	 	 
	1

	 	C-9 Cap/Magnedrive Assembly	 	 	 	 	 	 
	1

	 	C-9 Cap/Magnedrive Assembly	 	 	 	 	 	 
	1

	 	Lower Drive Shaft	 	 	 	 	 	 
	1

	 	Lower Drive Shaft	 	 	 	 	 	 
	1

	 	AC unit for IT Rm (Mat & Labr)	 	 	 	 	 	 
	1

	 	UltraSonic Cleaner	 	 	 	 	 	 
	1

	 	Magnedrive assembly	 	 	 	 	 	 
	1

	 	Silver plated press rings	 	 	 	 	 	 
	1

	 	Lower drive shaft	 	 	 	 	 	 
	1

	 	Internal purebon bearings	 	 	 	 	 	 
	1

	 	Back-pressure regulator	 	 	 	 	 	 
	1

	 	Back-pressure regulator	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Revision	 	Technology Center Lab Asset	 	 	 	 	 	 	 	 
	3	 	Disposition	 	1/9/2008	 	 	 	 	 	 
	 	 	 	 	To	 	 	 	 	 	 
	 	 	 	 	Emerging	 	To	 	 	 	 
	 	 	Description from Tech Ctr	 	Fuels	 	Synm	 	For Sale	 	Notes
	FA001555

	 	Mainboard Firmware for HP5890
	 	P
	 	 	 	 	 	 	 	 
	FA001556

	 	HP-IB board Firmware
	 	P
	 	 	 	 	 	 	 	 
	FA001557

	 	Tray Firmware for HP18594B
	 	P
	 	 	 	 	 	 	 	 
	FA001559

	 	Simdis PTV Kit for HP5890
	 	P
	 	 	 	 	 	 	 	 
	FA001560

	 	AC SimDis Software
	 	P
	 	 	 	 	 	 	 	 
	FA001561

	 	ASTM D2887 Capillary Mode Kit
	 	P
	 	 	 	 	 	 	 	 
	FA001595

	 	Brooks Flow Controller
	 	P
	 	 	 	 	 	 	 	 
	FA001644

	 	Dyna-Mix Stirrer
	 	P
	 	 	 	 	 	 	 	 
	FA001645

	 	Chuck Adapter Assembly
	 	P
	 	 	 	 	 	 	 	 
	FA001646

	 	Impeller
	 	P
	 	 	 	 	 	 	 	 
	FA001661

	 	Nitrogen Analyzer/Antek nitrogen

analyzer
	 	 	 	 	 	 	 	 	 	P
	 	Emerging Fuels
to take possession
of the Antek at the
TPP
	FA001670

	 	OmniStar Gas Analysis System
	 	P
	 	 	 	 	 	 	 	 

 

39

 

EX. 10.73

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Revision	 	Technology Center Lab Asset	 	 	 	 	 	 	 	 
	3	 	Disposition	 	1/9/2008	 	 	 	 	 	 
	 	 	 	 	To	 	 	 	 	 	 
	 	 	 	 	Emerging	 	To	 	 	 	 
	 	 	Description from Tech Ctr	 	Fuels	 	Synm	 	For Sale	 	Notes
	FA001672

	 	Conversion Kit
	 	P
	 	 	 	 	 	 	 	 
	FA001677

	 	Variable Pathlength Cell
	 	 	 	 	 	 	 	 	 	P	 	 
	FA001720

	 	Micro Gas Chromatograph
	 	3-EZChrome
	 	2-Cerity
	 	1-GTI
	 	All micros are at
the FT Lab
currently
	FA001790

	 	Tube Furnace
	 	P
	 	 	 	 	 	 	 	 
	FA001807

	 	Star Software
	 	P
	 	 	 	 	 	 	 	 
	FA001808

	 	TGA-MS Conversion Kit SW Option
	 	P
	 	 	 	 	 	 	 	 
	FA001809

	 	DOS File Import
	 	P
	 	 	 	 	 	 	 	 
	FA001828

	 	Thermocouple
	 	P
	 	 	 	 	 	 	 	 
	FA001930

	 	Fore Presure Regulator
	 	P
	 	 	 	 	 	 	 	 
	FA001931

	 	Back Pressure Regulator
	 	P
	 	 	 	 	 	 	 	 
	FA001993

	 	Sampling Inlet System
	 	P
	 	 	 	 	 	 	 	 
	FA001994

	 	Oil-Less Vacuum Pump
	 	P
	 	 	 	 	 	o	 	 
	FA002140

	 	Spinning Band Distillation
	 	P
	 	 	 	 	 	o
	 	Only one
Spinning Band unit
at FT Lab—to be
retained by
Emerging Fuels
	FA002147

	 	Brooks Mass Flow Controller
	 	P
	 	 	 	 	 	 	 	 
	FA002192

	 	Autosample Controller
	 	P
	 	 	 	 	 	 	 	 
	FA002327

	 	Neslab Circulating Heater
	 	 	 	 	 	 	 	 	 	P
	 	One short path
column to Emerging
Fuels and one to
Syntroleum for sale
	FA002642

	 	Chemrez O-Rings
	 	P
	 	 	 	 	 	 	 	 
	FA002716

	 	Chemisorption Analyzer
	 	P
	 	 	 	 	 	 	 	 
	FA002797

	 	Hi-Temp SimDis Analyzer/GC-7
	 	 	 	 	 	P
	 	 	 	 
	FA002905

	 	FID Flow Manifold Assembly
	 	P
	 	 	 	 	 	 	 	 
	FA002906

	 	Lab Expansion Phase I	 	 	 	 	 	 	 	 	 	 	 	 
	FA003011

	 	Thermolyne Muffle Furnace
	 	P
	 	 	 	 	 	 	 	 
	FA003047

	 	Brooks Mass Flow Controller
	 	P
	 	 	 	 	 	 	 	 
	FA003052

	 	CPU-Siemens Processor Car
	 	P
	 	 	 	 	 	 	 	 
	FA003061

	 	Motorola HT750 Portable Radio
	 	P
	 	 	 	 	 	 	 	 

 

40

 

EX. 10.73

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Revision	 	Technology Center Lab Asset	 	 	 	 	 	 	 	 
	3	 	Disposition	 	1/9/2008	 	 	 	 	 	 
	 	 	 	 	To	 	 	 	 	 	 
	 	 	 	 	Emerging	 	To	 	 	 	 
	 	 	Description from Tech Ctr	 	Fuels	 	Synm	 	For Sale	 	Notes
	FA003062

	 	Motorola HT750 Portable Radio
	 	P
	 	 	 	 	 	 	 	 
	FA003112

	 	Thermolyne Hotplate
	 	P
	 	 	 	 	 	 	 	 
	FA003211

	 	Stainless Steel Gas Purifier
	 	P
	 	 	 	 	 	 	 	 
	FA003425

	 	HEPA-Filtered Vacuum
	 	P
	 	 	 	 	 	 	 	 
	FA003765

	 	2010 Chemisorption Analyzer
	 	 	 	 	 	 	 	 	 	P	 	 
	FA004587

	 	Fisher Isotemp Program Oven
	 	P
	 	 	o	 	 	 	 	 
	FA004909

	 	Avatar Dual Aperture
	 	P
	 	 	 	 	 	 	 	 
	FA004910

	 	Avatar MCT-A/2/cvr Aftermarket
	 	P
	 	 	 	 	 	 	 	 
	FA004919

	 	Thermo Neslab Merlin Chiller	 	 	 	 	 	 	 	 	 	 	 	 
	FA004939

	 	Panel Backs 14 gauge w/bracket
	 	P
	 	 	 	 	 	 	 	 
	FA004991

	 	pH/Ion Meter Kit Model 920 A+
	 	 	 	 	 	P
	 	 	 	 
	FA005433

	 	Quadrapole Analyzer- component of
omnistar system
	 	P
	 	 	 	 	 	 	 	 
	FA005464

	 	OPC Comm/Cerity chem post-run
	 	P
	 	 	 	 	 	 	 	 
	FA005545

	 	OMNIC Macros Basic v 6.2
	 	P
	 	 	 	 	 	 	 	 
	FA005914

	 	Cooling Jacket for TGA851 — inside
TGA851
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Distillation Unit, Wiped Film
	 	P
	 	 	 	 	 	 	 	One short path
column to Emerging
Fuels and one to
Syntroleum for sale
	1

	 	Circulating Bath, Low-temp
	 	P
	 	 	 	 	 	o
	 	One short path
column to Emerging
Fuels and one to
Syntroleum for sale
	1

	 	Chembet 3000
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Chembet 3000
	 	 	 	 	 	 	 	 	 	P	 	 
	1

	 	Microscope, Stereo
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Porosimeter, Tri-Star 3000
	 	P
	 	 	 	 	 	 	 	 
	1

	 	FT-IR
	 	 	 	 	 	 	 	 	 	P	 	 
	1

	 	Flowprep 060
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Muffle Furnace #1
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Muffle Furnace #2
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Muffle Furnace #3
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Balance, Analytical
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Balance, Top-Loading
	 	P
	 	 	 	 	 	 	 	 

 

41

 

EX. 10.73

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Revision	 	Technology Center Lab Asset	 	 	 	 	 	 	 	 
	3	 	Disposition	 	1/9/2008	 	 	 	 	 	 
	 	 	 	 	To	 	 	 	 	 	 
	 	 	 	 	Emerging	 	To	 	 	 	 
	 	 	Description from Tech Ctr	 	Fuels	 	Synm	 	For Sale	 	Notes
	1

	 	Distillation Unit, Short Path
	 	 	 	 	 	 	 	 	 	P
	 	One short path
column to Emerging
Fuels and one to
Syntroleum for sale
	1

	 	Refrigerated Circulating Bath
	 	 	 	 	 	 	 	 	 	P
	 	One short path
column to Emerging
Fuels and one to
Syntroleum for sale
	1

	 	Hi-Temp Cell for FTIR
	 	 	 	 	 	 	 	 	 	P	 	 
	1

	 	S.S. Gas Purifier (3000 psi)
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Stirrer, Dual-Range
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Carver Press
	 	 	 	 	 	 	 	 	 	P	 	 
	1

	 	Fischer Iso temp oven
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Lindberg blue 3 zone heater contl

+ quartz reqct 3
	 	P
	 	 	 	 	 	o	 	 
	1

	 	Steam Evaporator (3)
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Sive shaker & sieves
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Julabo (4) circulating bath
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Agilent HFM730
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Spectrophotomeeter
	 	 	 	 	 	P
	 	 	 	 
	1

	 	Acurrent conductivity meter
	 	 	 	 	 	P
	 	 	 	 
	1

	 	FTIR misc. equipment
	 	 	 	 	 	 	 	 	 	P	 	 
	1

	 	Siemens PIC
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Misc. Hot Plates, glassware etc.
	 	1 lot
	 	1 lot
	 	remaining	 	 
	1

	 	Micromiretics Furnace control
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Thermolym 6000 furnace (2)
	 	P
	 	 	o	 	 	 	 	 
	1

	 	Marble balance table
	 	 	1	 	 	 	1	 	 	 	 	 
	1

	 	Neslab RTE 140
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Airbrush & Pumb
	 	P
	 	 	 	 	 	o	 	 
	1

	 	Micropump & Control
	 	P
	 	 	 	 	 	 	 	 
	1

	 	Trivac vacuum pump
	 	 	 	 	 	P
	 	 	 	 
	1

	 	Omega handheld thermocouple
	 	 	 	 	 	P
	 	 	 	 
	1

	 	Digi sense temp controller portable
	 	 	 	 	 	 	 	 	 	P	 	 
	1

	 	Fischer Scientific Centrific 228
	 	P
	 	 	 	 	 	 	 	 
	1

	 	GC 1
	 	 	 	 	 	P
	 	 	 	 
	1

	 	GC 2 + misc. equipment
	 	P
	 	 	 	 	 	o	 	 
	1

	 	GC 5
	 	P
	 	 	 	 	 	 	 	 
	1

	 	GC 6
	 	P
	 	 	 	 	 	o	 	 
	1

	 	Mettler TGA851
	 	P
	 	 	 	 	 	 	 	 

 

42

 

EX. 10.73

Schedule 3.3(a) Threatened Proceedings and Orders

	 	1.	 	Violations listed on Inspection Notice from Fire Marshall’s Office, Tulsa Fire
Department dated April 30, 2007. The Inspection Notice is attached to this Schedule 3.3(a)
as Attachment 1.

	 
	 	2.	 	Requirement of the Tulsa Fire Department for the installation of a land phone line for
the fire alarm system at the Lab.

 

43

 

EX. 10.73

Schedule 3.4(a) Seller Contracts

	 	1.	 	Contract with World GTL Trinidad Limited for catalyst laboratory testing services dated
14 August 2007

 

44

 

EX. 10.73

Schedule 8.2(a)

	 	1.	 	Use of heat on the cap of the catalyst stirring reactor

	 
	 	2.	 	Use of lab operating procedures manual

 

45exhibit10_1.htm

    EXHIBIT
      10.1

    

    

    INCENTIVE
      STOCK OPTION AGREEMENT

    

    ANALYSTS
      INTERNATIONAL CORP.

    2004
      EQUITY INCENTIVE PLAN

    

    

    THIS
      AGREEMENT, made effective as of this 16th
      day of
      January, 2008, by and between Analysts International Corp., a Minnesota
      corporation (the “Company”), and Robert E. Woods (“Participant”).

     

    W
      I T N E
      S S E T H:

    

    WHEREAS,
      Participant on the date hereof
      is a key employee or officer of the Company or one of its Subsidiaries;
      and

    

    WHEREAS,
      the Company wishes to grant an
      incentive stock option to Participant to purchase shares of the Company’s Common
      Stock pursuant to the Company’s 2004 Equity Incentive Plan (the “Plan”);
      and

    

    WHEREAS,
      the Administrator has
      authorized the grant of an incentive stock option to Participant and has
      determined that, as of the effective date of this Agreement, the fair market
      value of the Company’s Common Stock is $1.29 per share;

    

    NOW,
      THEREFORE, in consideration of the
      premises and of the mutual covenants herein contained, the parties hereto agree
      as follows:

    

    1.           
      Grant
      of
      Option.  The Company hereby grants to Participant on the date
      set forth above (the “Date of Grant”), the right and option (the “Option”) to
      purchase all or portions of an aggregate of two hundred fifty thousand (250,000)
      shares of Common Stock at a per share price of $1.29 on the terms and conditions
      set forth herein, and subject to adjustment pursuant to Section 12 of the
      Plan.  This Option is intended to be an incentive stock option within
      the meaning of Section 422, or any successor provision, of the Internal Revenue
      Code of 1986, as amended (the “Code”), and the regulations thereunder, to the
      extent permitted under Code Section 422(d).

    

    2.           
      Duration
      and Exercisability.

    

    a.           
      General.  The
      term during which this Option may be exercised shall terminate on the close
      of
      business on January 16, 2018, except as otherwise
      provided in Paragraphs 2(b) through 2(d) below.  This Option shall
      become exercisable according to the following schedule:

    

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    

      

      
        	
                Vesting
                  Date

              	
                Number
                  of Shares/Percentage

              
	 	 
	
                Date
                  of Grant

              	
                25%

              
	
                First
                  Anniversary of Date of Grant

              	
                50%

              
	
                Second
                  Anniversary of Date of Grant

              	
                75%

              
	
                Third
                  Anniversary of Date of Grant

              	
                100%

              

      

       

       

    

    In
      the
      event of a Change of Control (as defined in Exhibit A to Participant’s
      employment agreement) on or after May 1, 2009, the Option shall vest immediately
      and be fully exercisable

    

    Once
      the
      Option becomes exercisable to the extent of one hundred percent (100%) of the
      aggregate number of shares specified in Paragraph 1, Participant may continue
      to
      exercise this Option under the terms and conditions of this Agreement until
      the
      termination of the Option as provided herein.  If Participant does not
      purchase upon an exercise of this Option the full number of shares which
      Participant is then entitled to purchase, Participant may purchase upon any
      subsequent exercise prior to this Option’s termination such previously
      unpurchased shares in addition to those Participant is otherwise entitled to
      purchase.

    

    b.           
      Termination
      of Employment (other than Disability or Death).  If
      Participant’s employment with the Company or any Subsidiary is terminated for
      any reason other than disability or death, this Option shall completely
      terminate on the earlier of (i) the close of business on the three-month anniversary date
      of such termination of employment, and (ii) the expiration date of this
      Option stated in Paragraph 2(a) above.  In such period following the
      termination of Participant’s employment, this Option shall be exercisable only
      to the extent the Option was exercisable on the vesting date immediately
      preceding such termination of employment, but had not previously been
      exercised.  To the extent this Option was not exercisable upon such
      termination of employment, or if Participant  does not exercise the
      Option within the time specified in this Paragraph 2(b), all rights of
      Participant under this Option shall be forfeited.

    

    c.           
      Disability.  If
      Participant’s employment terminates because of disability (as defined in Code
      Section 22(e), or any successor provision), this Option shall terminate on
      the
      earlier of (i) the close of business on the twelve-month anniversary
      date
      of the such termination of employment, and (ii) the expiration date of this
      Option stated in Paragraph 2(a) above. In such period following the termination
      of Participant’s employment, this Option shall be exercisable only to the extent
      the Option was exercisable on the vesting date immediately preceding such
      termination of employment, but had not previously been exercised.  To
      the extent this Option was not exercisable upon such termination of employment,
      or if Participant does not exercise the Option within the time specified in
      this
      Paragraph 2(c), all rights of Participant under this Option shall be
      forfeited.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    d.           
      Death.  In
      the event of Participant’s death, this Option shall terminate on the earlier of
      (i) the close of business on the twelve-month anniversary
      date
of the date of Participant’s death, and (ii) the expiration date of this
      Option stated in Paragraph 2(a) above.  In such period following
      Participant’s death, this Option shall be exercisable by the person or persons
      to whom Participant’s rights under this Option shall have passed by
      Participant’s will or by the laws of descent and distribution only to the extent
      the Option was exercisable on the vesting date immediately preceding the date
      of
      Participant’s death. To the extent this Option was not exercisable upon the date
      of Participant’s death, or if such person or persons do not exercise this Option
      within the time specified in this Paragraph 2(d), all rights under this Option
      shall be forfeited.

    

    3.           
      Manner
      of
      Exercise.

    

    a.           
      General.  The
      Option may be exercised only by Participant (or other proper party in the event
      of death or incapacity), subject to the conditions of the Plan and subject
      to
      such other administrative rules as the Board may deem advisable, by delivering
      within the Option Period written notice of exercise to the Company at its
      principal office. The notice shall state the number of shares as to which the
      Option is being exercised and shall be accompanied by payment in full of the
      Option price for all shares designated in the notice.  The exercise of
      the Option shall be deemed effective upon receipt of such notice by the Company
      and upon payment that complies with the terms of the Plan and this
      Agreement.  The Option may be exercised with respect to any number or
      all of the shares as to which it can then be exercised and, if partially
      exercised, may be so exercised as to the unexercised shares any number of times
      during the Option period as provided herein.

    

    b.           
      Form
      of
      Payment.  Subject to approval by the Administrator, payment of
      the option price by Participant shall be in the form of cash, personal check,
      certified check or previously acquired shares of Common Stock of the Company,
      or
      any combination thereof.  Any stock so tendered as part of such
      payment shall be valued at its Fair Market Value as provided in the
      Plan.  For purposes of this Agreement, “previously acquired shares of
      Common Stock” shall include shares of Common Stock that are already owned by
      Participant at the time of exercise.

    

    c.           
      Stock
      Transfer Records.  As soon as practicable after the effective
      exercise of all or any part of the Option, Participant shall be recorded on
      the
      stock transfer books of the Company as the owner of the shares purchased, and
      the Company shall deliver to Participant one or more duly issued stock
      certificates evidencing such ownership.  All requisite original issue
      or transfer documentary stamp taxes shall be paid by the Company.

    

    4.           
      Miscellaneous.

    

    a.           
      Employment;
      Rights as Shareholder.  This Agreement shall not confer on
      Participant any right with respect to continuance of employment by the Company
      or any of its Subsidiaries, nor will it interfere in any way with the right
      of
      the Company to terminate such employment.  Participant shall have no
      rights as a shareholder with respect to shares subject to this Option until
      such
      shares have been issued to Participant upon exercise of this
      Option.  No adjustment shall be made for dividends (ordinary or
      extraordinary, whether in cash, securities or other property), distributions
      or
      other rights for which the record date is prior to the date such shares are
      issued, except as provided in Section 12 of the Plan.

    

    b.           
      Securities
      Law Compliance.  The exercise of all or any parts of this
      Option shall only be effective at such time as counsel to the Company shall
      have
      determined that the issuance and delivery of Common Stock pursuant to such
      exercise will not violate any state or federal securities or other
      laws.  Participant may be required by the Company, as a condition of
      the effectiveness of any exercise of this Option, to agree in writing that
      all
      Common Stock to be acquired pursuant to such exercise shall be held, until
      such
      time that such Common Stock is registered and freely tradable under applicable
      state and federal securities laws, for Participant’s own account without a view
      to any further distribution thereof, that the certificates for such shares
      shall
      bear an appropriate legend to that effect and that such shares will be not
      transferred or disposed of except in compliance with applicable state and
      federal securities laws.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    c.           
      Mergers,
      Recapitalizations, Stock Splits, Etc.  Pursuant and subject to
      Section 12 of the Plan, certain changes in the number or character of the Common
      Stock of the Company (through sale, merger, consolidation, exchange,
      reorganization, divestiture (including a spin-off), liquidation,
      recapitalization, stock split, stock dividend or otherwise) shall result in
      an
      adjustment, reduction or enlargement, as appropriate, in Participant’s rights
      with respect to any unexercised portion of the Option (i.e., Participant
      shall have such “anti-dilution” rights under the Option with respect to such
      events, but shall not have “preemptive” rights).

    

    d.           
      Shares
      Reserved.  The Company shall at all times during the option
      period reserve and keep available such number of shares as will be sufficient
      to
      satisfy the requirements of this Agreement.

    

    e.           
      Withholding
      Taxes on Disqualifying Disposition.  In the event of
      a

    disqualifying
      disposition of the shares acquired through the exercise of this Option,
      Participant hereby agrees to inform the Company of such
      disposition.  Upon notice of a disqualifying disposition, the Company
      may take such action as it deems appropriate to insure that, if necessary to
      comply with all applicable federal or state income tax laws or regulations,
      all
      applicable federal and state payroll, income or other taxes are withheld from
      any amounts payable by the Company to Participant.  If the Company is
      unable to withhold such federal and state taxes, for whatever reason,
      Participant hereby agrees to pay to the Company an amount equal to the amount
      the Company would otherwise be required to withhold under federal or state
      law.  Participant may, subject to the approval and discretion of the
      Board or such administrative rules it may deem advisable, elect to have all
      or a
      portion of such tax withholding obligations satisfied by delivering shares
      of
      the Company’s Common Stock or by electing to have the Company withhold shares of
      Common Stock otherwise issuable to Participant.  Such shares shall
      have a Fair Market Value equal to the minimum required tax withholding, based
      on
      the minimum statutory withholding rates for federal and state tax purposes,
      including payroll taxes, that are applicable to the supplemental income
      resulting from the disqualifying disposition of the shares acquired through
      the
      exercise of this Option.  In no event may the Company withhold shares
      having a Fair Market Value in excess of such statutory minimum required tax
      withholding.

    

    f.           
      Nontransferability.  During
      the lifetime of Participant, the accrued Option shall be exercisable only by
      Participant or by the Participant’s guardian or other legal representative, and
      shall not be assignable or transferable by Participant, in whole or in part,
      other than by will or by the laws of descent and distribution.

    

    g.           
      2004
      Equity Incentive Plan.  The Option evidenced by this Agreement
      is granted pursuant to the Plan, a copy of which Plan has been made available
      to
      Participant and is hereby incorporated into this Agreement.  This
      Agreement is subject to and in all respects limited and conditioned as provided
      in the Plan.  The Plan governs this Option and, in
      the  event of any questions as to the construction of this Agreement
      or in the event of a conflict between the Plan and this Agreement, the Plan
      shall govern, except as the Plan otherwise provides.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    h.           
      Lockup
      Period Limitation.  Participant agrees that in the event the
      Company advises Participant that it plans an underwritten public offering of
      its
      Common Stock in compliance with the Securities Act of 1933, as amended, and
      that
      the underwriter(s) seek to impose restrictions under which certain shareholders
      may not sell or contract to sell or grant any option to buy or otherwise dispose
      of part or all of their stock purchase rights of the underlying Common Stock,
      Participant hereby agrees that for a period not to exceed 180 days from the
      prospectus, Participant will not sell or contract to sell or grant an option
      to
      buy or otherwise dispose of this option or any of the underlying shares of
      Common Stock without the prior written consent of the underwriter(s) or its
      representative(s).

    

    i.           
      Blue
      Sky
      Limitation.  Notwithstanding anything in this Agreement to the
      contrary, in the event the Company makes any public offering of its securities
      and determines in its sole discretion that it is necessary to reduce the number
      of issued but unexercised stock purchase rights so as to comply with any state
      securities or Blue Sky law limitations with respect thereto, the Board of
      Directors of the Company shall have the right (i) to accelerate the
      exercisability of this Option and the date on which this Option must be
      exercised, provided that the Company gives Participant 15 days’ prior written
      notice of such acceleration, and (ii) to cancel any portion of this Option
      or
      any other option granted to Participant pursuant to the Plan which is not
      exercised prior to or contemporaneously with such public
      offering.  Notice shall be deemed given when delivered personally or
      when deposited in the United States mail, first class postage prepaid and
      addressed to Participant at the address of Participant on file with the
      Company.

    

    j.           
      Accounting
      Compliance.  Participant agrees that, if a merger,
      reorganization, liquidation or other “transaction” as defined in Section 12 of
      the Plan occurs and Participant is an “affiliate” of the Company or any
      Subsidiary (as defined in applicable legal and accounting principles) at the
      time of such transaction, Participant will comply with all requirements of
      Rule
      145 of the Securities Act of 1933, as amended, and the requirements of such
      other legal or accounting principles, and will execute any documents necessary
      to ensure such compliance.

    

    k.           
      Stock
      Legend.  The Board may require that the certificates for any
      shares of Common Stock purchased by Participant (or, in the case of death,
      Participant’s successors) shall bear an appropriate legend to reflect the
      restrictions of Paragraph 4(b) and Paragraphs 4(h) through 4(j) of this
      Agreement.

    

                            
      l.           
Scope
      of
      Agreement.  This Agreement shall bind and inure to the benefit
      of the Company and its successors and assigns and Participant and any successor
      or successors of Participant permitted by Paragraph 2 or Paragraph 4(f)
      above.

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    m.           
      Arbitration.  Any
      dispute arising out of or relating to this Agreement or the alleged breach
      of
      it, or the making of this Agreement, including claims of fraud in the
      inducement, shall be discussed between the disputing parties in a good faith
      effort to arrive at a mutual settlement of any such controversy.  If,
      notwithstanding, such dispute cannot be resolved, such dispute shall be settled
      by binding arbitration.  Judgment upon the award rendered by the
      arbitrator may be entered in any court having jurisdiction
      thereof.  The arbitrator shall be a retired state or federal judge or
      an attorney who has practiced securities or business litigation for at least
      10
      years.  If the parties cannot agree on an arbitrator within 20 days,
      any party may request that the chief judge of the District Court for Hennepin
      County, Minnesota, select an arbitrator.  Arbitration will be
      conducted pursuant to the provisions of this Agreement, and the commercial
      arbitration rules of the American Arbitration Association, unless such rules
      are
      inconsistent with the provisions of this Agreement.  Limited civil
      discovery shall be permitted for the production of documents and taking of
      depositions.  Unresolved discovery disputes may be brought to the
      attention of the arbitrator who may dispose of such dispute.  The
      arbitrator shall have the authority to award any remedy or relief that a court
      of this state could order or grant; provided, however, that punitive or
      exemplary damages shall not be awarded.  The arbitrator may award to
      the prevailing party, if any, as determined by the arbitrator, all of its costs
      and fees, including the arbitrator’s fees, administrative fees, travel expenses,
      out-of-pocket expenses and reasonable attorneys’ fees.  Unless
      otherwise agreed by the parties, the place of any arbitration proceedings shall
      be Hennepin County, Minnesota.

    

    IN
      WITNESS WHEREOF, the parties hereto
      have caused this Agreement to be executed on the day and year first above
      written.

    

    

    
      	 	
              ANALYSTS
                INTERNATIONAL CORPORATION

            
	 	 
	 	 
	
              By

            	 ______________________________________
	
              Its

            	 ______________________________________
	 	 
	 	_______________________________________
	 	
              Participant

            

    

    

    

    
      
        
        

      

      
        6

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