Document:

EX-10.3

 Exhibit 10.3 
 2011-1 AMENDMENT TO 
 PRINCESS CRUISES CHIEF EXECUTIVE OFFICER

 SUPPLEMENTAL RETIREMENT PLAN 
 The following Amendment to the 2008 restatement of the Princess Cruises Chief Executive Officer Supplemental Retirement Plan (the “Plan”) is intended to change the definition of Committee in
Section 2.11 
 1. Section 2.11 of the Plan is amended to read as follows: 

2.11 Committee. “Committee” means the committee established to administer this Plan as set forth in Section 3.1 thereof,
which shall be comprised of the members of the Compensation Committees of both Carnival Corporation and Carnival plc. 
 IN
WITNESS WHEREOF, these Amendments have been executed by the Participant and a duly authorized officer of Sponsor and are effective as of the date of execution by the Participant. 

 

							
	 	 	 	 	PRINCESS CRUISES LINES, LTD.
				
	Date: 11.2.11	 		 	By:	 	 /s/ Alan B. Buckelew

		 		 		 	Alan B. Buckelew
		 		 	Its:	 	Chief Executive Officer
			
	Date: 12.8.11	 		 	 /s/ Peter G. Ratcliffe

		 		 	Peter G. RatcliffeEX-10.4

 Exhibit 10.4 
 2011-2 AMENDMENT TO 
 PRINCESS CRUISES CHIEF EXECUTIVE OFFICER

 SUPPLEMENTAL RETIREMENT PLAN 
 The following Amendment to the 2008 restatement of the Princess Cruises Chief Executive Officer Supplemental Retirement Plan (the “Plan”) is intended to provide for an acceleration of payment of
the portion of the remaining Pension (or the Spouse’s Pension payable under Article V) that is included in gross income under P.L. 110-343, Division C, Section 801(d)(2) and that is permitted to be accelerated under Q&A-25 of Notice
2009-8, 2009-4 I.R.B. 347 (“Notice 2009-8”) or under other applicable guidance permitting a change in the time and form of payment of the Pension or Spouse’s Pension without adverse tax consequences under Code Section 409A.

  

	 	1.	A new Section 3.12(d) is added to the Plan which shall read as follows: 

(d) Payment Upon Income Inclusion Under P.L. 110-343, Division C, Section 801(d)(1) that Is Permitted Under
Q&A-25 of Notice 2009-8. To the extent that all or a portion of the remaining Pension payable to the Participant (or to the Spouse or Beneficiary if the Participant is not alive) is included in income in 2017 under P.L. 110-343, Division C,
Section 8.01(d)(2), and a payment of the portion so included is permitted under Q&A-25 of Notice 2009-8 or additional guidance issued by the IRS without adverse tax consequences under Code Section 409A, the portion so included shall be
paid to the Participant, Spouse, or Beneficiary, as applicable, in a cash lump sum on December 31, 2017. The amount of such lump sum payment shall be determined using such actuarial and 

 
other assumptions and methodologies that are both (i) agreed to by the Sponsor and the Participant, Spouse, or Beneficiary, as applicable, on or before December 31, 2017, and
(ii) not inconsistent with guidance, if any, issued by the Internal Revenue Service concerning the calculation of the payment that is permitted to be made without adverse tax consequences under Code Section 409A. If an amount is paid
pursuant to this paragraph (d), then any subsequent payment(s) due under the Plan shall be reduced to take into account the amount previously paid hereunder. The amount of such reduction shall be calculated utilizing the same assumptions as are used
in determining the lump sum payment under this paragraph (d). 
 IN WITNESS WHEREOF, these Amendments have been executed by the
Participant and a duly authorized officer of the Compensation Committees of Carnival Corporation and Carnival plc as of the date of execution by the Participant. 
  

							
		 		 		 	COMPENSATION COMMITTEES OF CARNIVAL CORPORATION AND CARNIVAL plc
				
	Date: 12.5.11	 		 	By:	 	 /s/ Arnold Donald

		 		 		 	Arnold Donald
				
		 		 	Its:	 	Committee Chair
				
	Date: 12.8.11	 		 		 	 /s/ Peter G. Ratcliffe

		 		 		 	Peter G. RatcliffeHeads of Agreement for Business Development Services

 Exhibit 10.1 
 BINDING HEADS OF AGREEMENT - BUSINESS DEVELOPMENT SERVICES 
  

					
	DATE :	 		  	First day of February 2012
			
	PARTIES :	 		  	 Donald P. Bunnell

317 Fuxing Xi Lu
 House #2

Shanghai, China 200031 
  

(“DB”)
  

		 		  	 SES Resource Solutions, Ltd
 of Portcullis TrustNet (BVI) Limited, Portcullis TrustNet Chambers, P.O. Box 3444, Road Town, Tortola, British Virgin Islands, the office of the first registered agent.

(“SRS”)

 Preamble 
  

	1.	SRS has been formed with shareholders Synthesis Energy Systems Inc (SES) 50% and Midas Resources AG (Midas) 50%. 

 

	2.	DB will provide business development services under the Terms and Conditions below. 

 Terms and Conditions 
  

	1.	DB will perform the role of Regional Executive – Downstream Business Development for SRS, reporting to the Chairman of the SRS Board. Specific responsibilities
will be as agreed with the Chairman of the SRS Board. 

  

	2.	 Commencing
1st February 2012, SRS shall pay DB a fee of $15,000
per month for ten days services. Any additional service days (greater than ten days) in the month will be paid at the rate of $1,800.00 per day. Should DB’s services be available to a lesser extent, then SRS and DB will negotiate a lower fee in
good faith. DB will invoice SRS on a monthly basis and be paid on 30 day terms. 

  

	3.	DB shall be issued 1% of SRS issued capital in the following tranches based on achieving the following KPIs during the term of this agreement: 

 

			
		
	 3.1.
	  	KPI #1: Financial close of external equity raising of at least US$10m in SRS or equivalent entity by 30/6/2012 – 0.3%;
		
	 3.2.
	  	 KPI #2: Originating a downstream project that provides an early market opportunity for a SRS coal resource or a coal resource being
pursued by SRS.

		
		  	3.2.1.         Secure an SPV for pursuing the project – 0.1%

  
 1 

	 	3.2.2.	Secure funding to progress the project to the point where an information memorandum is prepared for strategic investor involvement – 0.3% 

 

	 	3.3.	KPI #3: Securing funding of at least $2m to complete information memorandum targeted at a strategic partner for the first Golden Key project originated by DB– 0.3%

  

	4.	DB will be entitled to 15% of initial free carried equity earned by SRS during the term of this agreement (with SRS holding 85% equity) in downstream projects
originated by DB. DB will be entitled to less than 15% of initial free carried equity earned by SRS during the term of this agreement in downstream projects which are not originated by DB but in which DB takes over and leads to closing – such
percentage to be negotiated between the parties in good faith prior to DB commencing leadership of such projects. 

  

	5.	 Conditional upon SRS or equivalent entity reaching financial close for a capital raising of at least US$10m before 30th June 2012, and provided this capital raising involves
establishment of a holding company that will initially hold all or part of the SRS equity in downstream ventures originated by DB, as per Clause 4 above, (“HoldCo”), then DB shall be entitled to convert his equity positions in those
downstream ventures included in HoldCo to HoldCo equity on a value equivalence basis to be agreed. 

  

	6.	All expenses (travel, ‘out-of-pocket’, etc) attached to DB’s activities will be reimbursed or carried directly by SRS. DB will invoice SRS on a monthly
basis and be paid on 30 day terms. The Chairman of the SRS Board will verify these invoices. 

  

	7.	 This Agreement will terminate on 31st July 2012, but either party can terminate this Agreement ‘without cause’ with two week’s notice in
the period up to 31st July 2012.

  

	8.	 These Heads of Agreement shall govern the relationship between the parties until 31st July 2012 or the date of termination by either party pursuant to Clause 7, the “Termination Date”.
Thereafter, the parties will in good faith discuss the basis for an ongoing relationship. 

  

	9.	 Either party may terminate these Heads of Agreement for any reason in the period up to the Termination Date by giving two weeks’ notice of such
termination to the other party. Should a dispute arise or be declared by either party relating to these Heads of Agreement, the parties acknowledge that any damages or claims for compensation, however arising, shall be limited in quantum to the
total amount of cash fees paid or payable under these Heads of Agreement from 1st February 2012, to the date falling one month after the date such dispute was brought to the attention of the other party. 

 

	10.	DB is subject to the Confidentiality Agreement to be entered into the parties. This Agreement and all disputes arising out of it are governed by the law of Victoria and
the parties submit to the jurisdiction of the courts of that State. 

  

	11.	DB intends to establish a wholly-owned corporation to carry out the consulting activities contemplated in this agreement and upon establishment of such entity DB may
assign his rights and obligations under this agreement to such entity. 

  

	12.	Any notice to be served under this Agreement must be served by sending it to the usual business address of the recipient by ordinary mail, facsimile, or personal
delivery, and in the case of ordinary mail service will be deemed to occur one day after the date of posting, and in all other cases deemed to occur on the same day. 

  
 2 

 SIGNED for and on behalf of SES Resource Solutions, Ltd 

 

					
	by its duly authorized representative	 	 	  	 
		 		  	 /s/ Michael Oppenheimer

		 		  	(signature)
			
		 		  	 /s/ Robert Rigdon

		 		  	(signature)
			
	SIGNED by Don Bunnell	 		  	
			
		 		  	 /s/ Don Bunnell

		 		  	(signature)
			
	In the presence of:	 		  	
			
	 Amit Lie, C.P.A.
	 		  	 /s/ Amit Lie

	Witness (print name)	 		  	(signature of Witness)

  
  
  

 
  
  

 
  
  

 

  
 3Amendment to Heads of Agreement for Business Development Services

 Exhibit 10.2 
 AMENDMENT TO BINDING HEADS OF AGREEMENT - BUSINESS DEVELOPMENT 
 SERVICES

  

					
	DATE	 		  	1 MARCH 2012
			
	PARTIES	 		  	 Donald P. Bunnell

317 Fuxing Xi Lu
 House #2

Shanghai, China 200031

(“DB”)

			
		 		  	 SES Resource Solutions, Ltd
 of Portcullis TrustNet (BVI) Limited, Portcullis TrustNet Chambers, P.O. Box 3444, Road Town, Tortola, British Virgin Islands, the office of the first registered agent.

(“SRS”)

 DB and SRS executed a binding Heads of Agreement (the “Agreement”) in February 2012 and DB and
SRS hereby amend the Agreement as follows: 
 DB agrees that he shall not bill SRS in excess of US$27,500 in any given month
under the Agreement. 
 SIGNED for and on behalf of SES Resource Solutions, Ltd 

by its duly authorized representative 
  

					
	  	  	  	  	 /s/ Michael Oppenheimer

		  		  	(signature)
			
	 S.E. Oppenheimer
	  		  	 /s/ S.E. Oppenheimer

	     Witness (print name)	  		  	(signature of Witness)
			
	SIGNED by Don Bunnell	  		  	
		  		  	 /s/ Don Bunnell

		  		  	(signature)
	In the presence of:	  		  	
			
	 Beth A. Bunnell
	  		  	 /s/ Beth A. Bunnell

	     Witness (print name)	  		  	(signature of Witness)

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