Document:

innerlights1a4ex10-11.htm

    
      

      

    

    Exhibit 10-11

     

    Exhibit
1.06(a)(vi)(A)

     CONSULTING
AGREEMENT

     

    THIS
CONSULTING AGREEMENT (this "Agreement") is made effective the 15th day of
January, 2001, by and between DARIUS MARKETING INC. (hereinafter referred to as
the "Company"), and ROBERT O. YOUNG ("Robert") and SHELLEY R. YOUNG ("Shelley";
Robert and Shelley shall hereinafter be referred to collectively as the
"Consultants").

     

     

    EXPLANATORY
STATEMENT

     

    The
Company has purchased the business and certain of the assets of HIKARI HOLDINGS,
LC. and INNERLIGHT INTERNATIONAL, INC. (the "Sellers") under that certain Asset
Purchase Agreement dated January 15, 2001, by and among various parties
including the Company and the Consultants (the "Acquisition
Agreement").

     

    For many
years, the Consultants have been key employees and principal owners of the
Sellers, and possess valuable knowledge, expertise and experience in the
business of developing, marketing and selling nutritional supplements, dietary
supplements and related products (the "Products" as defined below in Section
3.3); such Products are distributed for sale through independent representatives
nationally and internationally (collectively, the "Business"). The Company
believes that the Consultants' knowledge, expertise and experience would benefit
the Company, and the Company desires to retain the Consultants to perform
certain consulting services for the Company. The Company further desires to
insure that the Consultants do not compete with the Company, and its affiliates,
except as expressly permitted hereby.

     

    NOW,
THEREFORE, in consideration of their mutual agreements and covenants contained
herein, and for other valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, and in further consideration of the affixation by
the parties of their respective seals herein below, the parties agree as
follows:

     

               1.        Consulting
Services.

     

                          1.1.    Duties; Services. The
Consultants agree that, for a period of two (2) years beginning on the date of
this Agreement (which then shall renew automatically from year to year unless
sooner terminated by the Company in accordance with the terms of this
Agreement):

     

                                    1.1.1.
The Consultants will perform certain consulting services for the Company, and
will be reasonably available for approximately ten (10) hours per month and at
ten (10) events per year to advise, counsel and inform designated officers and
employees of the Company about the industry, business, customers, budgeting,
expenses, marketing and other aspects of or concerning the Company's business
about which the Consultants have knowledge or expertise.

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

                                    1.1.2.
The Consultants shall serve as independent representatives of the Company and
shall assist and advise the Company in developing new representatives, Company
products and/or services and implementing Company programs. During the term of
the consulting engagement under this Agreement, the Consultants shall use the
best efforts of the Consultants to further the network marketing operations
of the Company and the Consultants shall be available, at such times and places
for approximately ten (10) hours per month and at ten (10) events per year, as
reasonably requested by the Company and agreed to by the Consultants to meet
with, assist, advise and otherwise work with and for the Company and its
responsible personnel with regard to: (i) advice on the proper and efficient
conduct of the business of the Company and utilization of employees of the
Company; (ii) future business activities of the Company as to which the
Consultants may have or acquire knowledge; (iii) customer relationships and
activities; and (iv) the development of business opportunities and any other
matters which the parties may hereafter reasonably agree upon. It is
specifically understood that the Consultants have complete discretion and
control as to how their duties under this Agreement shall be discharged. The
Consultants shall generally be under the supervision of and shall report to the
President and Chief Executive Officer of the Company and of Darius International
Inc.

     

     

                          1.2.
Independent
Contractors. The Consultants shall render services to the Company as
independent contractors, and not as employees. The Consultants, rather than the
Company, shall have ultimate control over the scope and details of the
Consultants' activities pursuant to this Agreement; however, all services
rendered by the Consultants on behalf of the Company shall be performed to the
best of the Consultants' ability. As independent contractors:

     

                                    1.2.1.
The Consultants shall be responsible and liable for the payment of any and all
federal, state and local taxes payable by reason of the Consultants' receipt of
compensation under this Agreement and for any and all taxes, contributions or
other sums payable for unemployment compensation insurance and old age
retirement benefits. The Consultants agree to indemnify and hold harmless the
Company from and against any and all liabilities, obligations, costs and
expenses, including attorney's fees, resulting from any claim asserted against
the Company with respect to the withholding, reporting or payment of employment
or income taxes in connection with compensation or amounts payable to the
Consultants under this Agreement.

     

                                    1.2.2.
The Consultants shall not be entitled to participate in or receive any fringe or
retirement benefits, including medical, dental, life insurance, disability
insurance or retirement benefits, which the Company or its Affiliates (defined
below) may provide to its employees from time to time.

     

                                    1.2.3.
The Consultants shall be responsible for providing worker's compensation and
liability insurance coverage for the Consultants and any agents or employees he
or she retains and shall be responsible for any and all claims, damages and
suits resulting from the negligence or improper performance of obligations by
the Consultants or any agents or employees of the Consultants.

     

                                    1.2.4.
The Consultants shall have' no right or authority at any time to make any
contract or binding promise of any nature on behalf of the Company, either oral
or written, without the express written consent of an authorized representative
of the Company.

     

                          1.3.
Termination.
The Consultants' engagement hereunder may be terminated immediately by the
Company for Cause upon written notice to the Consultants. The term "for Cause"
for the purposes of this Agreement shall mean any (a) breach or violation of the
terms and conditions of this Agreement by the Consultants; (b) willful disregard
of or failure to perform duties or obligations under this Agreement; (c)
habitual absence from engagement hereunder except that caused by sickness; (d)
drunkenness or drug abuse; (e) dishonesty; (0 selling, passing, or otherwise
using without permission any confidential information of the Company; (g) action
or engagement in competition of the Company; or (g) a Consultant's physical or
mental injury, illness, disability, or incapacity, such that the Consultant is
unable to render the consulting services provided for in this Agreement for
a consecutive period of ninety (90) days.

     

    

    
      
        
           

        

        
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               2.        Non-Competition and
Confidentiality Covenants.

     

                          2.1.
The Consultants shall not, for so long as the Company pays the Consultants a
monthly payment pursuant to the terms of this Agreement (reduced, as applicable,
subject to Section 3.6) (the "Non-Competition Period"), without the Company's
prior and specific written consent, engage in any of the following
activities:

     

                                    2.1.1.
Directly or indirectly, anywhere in the world, as a principal, partner,
shareholder, agent, director, employee, consultant, or in any other capacity
whatsoever, engage, participate, invest or become interested in, affiliated or
connected with, render services to, or, in exchange for any compensation or
remuneration, direct or indirect, furnish any aid, assistance or advice to any
person, corporation, firm or other organization engaged in, a business that
is competitive with the Business that is conducted by the Company, or by any
Affiliate, as defined in Section 2.3, as of the date hereof or to be conducted
by the Company, or by any Affiliate, immediately after the date hereof with the
assets acquired pursuant to the Acquisition Agreement.

     

                                    2.1.2.
Directly or indirectly, as a principal, partner, shareholder, agent, director,
employee, consultant, or in any other capacity whatsoever, employ, retain, or
enter into any employment, agency, consulting or other similar arrangement with,
any person who, within the twelve-month period prior to such employment,
retention or arrangement, was an employee of the Company, or of any Affiliate,
or, induce or attempt to induce any employee of the Company, or of any
Affiliate, to terminate his employment with the Company, or with any
Affiliate.

     

                          2.2.
The Consultants acknowledge that it is the policy of the Company to maintain as
secret and confidential all Confidential Information as hereinafter
defined.

     

                                    2.2.1.
"Confidential Information" shall mean any information, not generally known in
the Company's industry, which information was either sold by the Consultants or
the Sellers to the Company or acquired by Consultants from the Company, and
which gives the Company a competitive advantage in the industry, heretofore or
hereafter acquired, discovered, developed, conceived, originated, used or
prepared by the Company or by an employee of the Company as the result of
employment with the Company and which falls within the following
categories:

     

                                               (a)
Information relating to trade secrets of the Company or any supplier, customer,
distributor, independent representative or consultant of the
Company;

    

                                               (b)
Information relating to existing or contemplated products of the Company,
services, technology, designs, processes, manuals, formulas, computer systems
and/or software, and any research or development of the Company or any supplier
or customer of the Company;

    

    
      
        
           

        

        
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                                               (c)
Information relating to business plans, sales or marketing methods, methods of
doing business, distributor or independent representative lists or information,
customer lists, customer usages and/or requirements, and supplier or customer
information of the Company or any supplier or customer of the
Company;

    

                                               (d)
Information relating to work product in general; and

     

                                               (e)
Any other confidential information that either the Company or any supplier,
distributor, independent representative or consultant customer of the Company
may wish to protect by patent, copyright or by keeping it secret and
confidential.

     

                                    2.2.2
The Consultants recognize that the services to be performed by the Consultants
are special and unique, and that by reason of their duties, they will acquire
Confidential Information. The Consultants recognize that all such Confidential
Information is the property of the Company. In consideration of the Company's
entering into this Agreement, the Consultants agree that:

     

                                               (a)
The Consultants shall never, during the term of engagement or thereafter,
directly or indirectly, use, publish, disseminate or otherwise disclose any
Confidential Information obtained in connection with their engagement by the
Company without the prior written consent of the Company;

     

                                               (b)
During the term of their engagement by the Company, the Consultants shall
exercise all due and diligent precautions to protect the integrity of the
Company's Confidential Information and, upon termination of their engagement,
the Consultants shall return ail documents containing any Confidential
Information and any copies thereof, in their possession or control;
and

     

                                               (c)
During the Non-Competition Period, the Consultants shall exercise all due and
diligent precautions to protect any Confidential Information and shall never,
directly or indirectly, use, publish, disseminate or otherwise disclose any
Confidential Information obtained in connection with their
engagement.

     

                                    2.2.3.
Upon termination or expiration of this Agreement, the Consultants shall
immediately deliver to the Company all books, records, memoranda, reports,
software data and documents relating to the Company's business, suppliers,
customers and other assets of the Company in the possession, custody or under
the control of the Consultants, whether or not such material contains
Confidential Information. .

     

                          2.3.
The Consultants and the Company acknowledge and agree that (i) the restrictions
set forth in this Section 2 are reasonable in terms of scope, duration,
geographic area, and otherwise, and (ii) the protections afforded to the
Company, and its Affiliates, hereunder are necessary to protect their legitimate
business interests.

     

                          2.4.
For the purposes hereof, the term "Affiliate" shall mean any corporation,
partnership or other firm or entity that is engaged in the Business, and
(i) that owns more than 50% of the stock of the Company, or (ii) more than 50%
of the ownership interests of which are owned by the Company or by stockholders
of the Company, including, without limitation, Darius International
Inc.

    

    
      
        
           

        

        
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               3.        Compensation.

     

                          3.1.
Allocation;
Term. In consideration of the Consultants' covenants hereunder, the
Consultants shall be entitled to payment of the consideration described in
Section 3.2. The consideration shall be allocated (a) Fifty Percent (50%) as
compensation for consulting services, and (b) Fifty Percent (50%) as
compensation for Consultants' restrictive covenants. Unless sooner terminated
pursuant to Section 1.3 or Sections 3.4 and 3.5 hereof, this Agreement shall
terminate upon the later to occur of Robert's or Shelley's death, provided that
the Company shall continue to make payments to the estate of the second to die
of Robert or Shelley until the "Minimum Payment" (defined below) has been paid
to the Consultants or their estates. The "Minimum Payment” shall be Five Hundred
Forty Thousand Dollars ($540,000), as reduced (if at all) pursuant to Section
3.6 hereof.

     

                                    3.1.1.
Except for a sale, reorganization, assignment or other transaction upon which
the successor company shall assume all of the Company's obligations under this
Agreement, for so long as payments of the Minimum Payment are being made by the
Company to the Consultants pursuant to this Agreement, the Company agrees that
it will not transfer the Purchased Assets (as defined in the Acquisition
Agreement), Products, and/or the Business to another company in a manner which
would alter or jeopardize the Business, the Adjusted Gross Revenues and/or
intended payment obligations as set forth in this Agreement or the Acquisition
Agreement.

     

                          3.2.
Consideration.
Subject to Section 3.6 hereof, the consideration payable to the Consultants
under this Agreement shall be payable on the fifteenth (15th) day of
each month beginning March 15, 2001 (each, a "Payment Date"), as
follows:

     

                                    3.2.1.
Until such time as payments to the Consultants under this Section 3.2 aggregate
the Minimum Payment, Consultants shall be entitled to receive:

     

                                               (a)
Twelve Percent (12%) of "Adjusted Gross Revenues" (defined below) for the month
preceding the Payment Date, if during such month Adjusted Gross Revenues were
not less than Two Hundred Fifty Thousand Dollars ($250,000); OR

     

                                               (b)
Ten Percent (10%) of Adjusted Gross Revenues for the month preceding the Payment
Date, if during such month Adjusted Gross Revenues were less than Two Hundred
Fifty Thousand Dollars ($250,000).

     

                                    3.2.2.
For all Payment Dates after payments to the Consultants under this Section 3.2
aggregate the Minimum Payment, Consultants shall be entitled to receive Five
Percent (5%) of Adjusted Gross Revenues for the month preceding the Payment
Date.

     

                          3.3.
Adjusted Gross
Revenues. For the purposes hereof, "Adjusted Gross Revenues" shall mean
the Company's revenues (determined in accordance with generally accepted
accounting principles of the United States) attributable to sales of the
Products, adjusted for returns, allowances and discounts. "Products"
means those nutrition, dietary supplements and related products (the "Products")
which were purchased by the Company from the Sellers and are listed on Exhibit A to the Acquisition
Agreement, together with any additional products purchased by the Company from
Sellers and/or Consultants pursuant to Section 1.09 of the Acquisition
Agreement. Consultants shall have the rights to (i) request and receive periodic
reports of Adjusted Gross Revenues from the Company, and (ii) at Consultants'
expense, to audit (no less frequently than annually) the Company's books and
records relating to the Business, in each case to verify the Company's
calculation of Adjusted Gross Revenues and payment of the consideration
hereunder.

    

    
      
        
           

        

        
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                          3.4.
Decline in Adjusted
Gross Revenues. With respect to any year beginning))n or after January 1,
2003, in the event that Adjusted Gross Revenues are less than Three
Milli0rt/F1ve Hundred Thousand Dollars ($3,500,000), or the Company ceases sales
of the Products, the Company may elect either (a) with respect to each such year
(a "Payment Year'), continue to pay the Consultants Five Percent (5%) of
Adjusted Gross Revenues in the manner set forth above, provided that if, after
all payments with respect to such Payment Year have been made, the Consultants
have not received an aggregate of One Hundred Seventy Five Thousand Dollars
($175,000) in payments, the Company shall pay the Consultants the amount of such
shortfall not later than January 31 of the following year, or (b) to terminate
this Agreement, in which case the provisions of Section 3.5 shall
apply.

     

                          3.5.
Termination. In
the event the Company elects to terminate this Agreement in accordance with
Section 3.4, (a) the Company shall grant to the Consultants anon-exclusive,
non-assignable license to market the Products, either personally or through the
Sellers, under a private label (but without any rights to the "Trademarks"
referenced in the Acquisition Agreement), (b) if the Company has terminated this
Agreement prior to the payment of the Minimum Payment, the Company shall forfeit
and terminate the license set forth in Section 1.11 of the Acquisition
Agreement, and shall be required to discontinue use of the ingredients and
formulas, and (c) the Sellers' restrictive covenants in Section 6.03 of the
Acquisition Agreement, and the Consultants' restrictive covenants contained
herein and in a Non-Competition Agreement of even date herewith, shall, if not
already expired, terminate,

     

                          3.6.
Reduction of
Compensation. The compensation payable to the Consultants hereunder shall
be Subject to reduction as provided in Section 6 of this Agreement and in
Section 6.01(d) of the Acquisition Agreement.

     

                          3.7.
Guaranty. The
Company's obligation to make payments to the Consultants has been guaranteed by
Darius International Inc. pursuant to the Guaranty Agreement executed
simultaneously herewith.

     

                          3.8.
Reimbursement of
Expenses. The Company shall reimburse the Consultants for all expenses
incurred in connection with their duties on behalf of the Company and
pre-approved by the Company, provided that such expenses shall, in all cases, be
subject to the Company's policies in effect from time to time, and the
Consultants shall keep, and present to the Company, records and receipts
relating to reimbursable expenses incurred by them. Such records and receipts
shall be maintained and presented in a format, and with such regularity, as the
Company reasonably may require in order to substantiate the Company's right to
claim income tax deductions for such expenses.

    

    
      
        
           

        

        
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               4.       
Prior
Restriction.  The Consultants represent and covenant to the
Company that (a) the Consultants are able in all respects to execute and perform
this Agreement, and the execution and performance hereof does not constitute a
breach or default under any other agreement, contract or arrangement which is
binding upon the Consultants; (b) the Consultants are entering into this
Agreement in good faith, are free to execute this Agreement and to enter into
the engagement pursuant to the provisions hereof; (c) the Consultants are not
presently engaged and shall not during the term of this Agreement be engaged in
any enterprise and are not receiving income or royalties from any company
engaged in the Business; and (d) the Consultants shall disclose the existence
and terms of the restrictive covenants set forth in this Agreement to any
employer or entity that the Consultants may work for during the term of this
Agreement or after the termination of the Consultants' engagement with the
Company.

     

               5.        Assignment. This
Agreement is personal to the Consultants and may not be assigned in any way by
them except as may be agreed to in writing by the Company. If at any time during
the term of this Agreement, the Company shall merge or consolidate with, or sell
substantially all of its assets to another corporation or entity, or shall
become a controlled subsidiary of a corporation (i.e. eighty per cent or more of
the outstanding common shares of stock of the Company has been acquired by such
other corporation), then the Consultants shall render the services provided for
under this Agreement to such other corporation or entity, provided that such
other corporation or entity shall assume this Agreement and shall perform all
the terms and conditions hereof on the part of the Company. In such event, the
Consultants' rights hereunder shall remain unimpaired and their obligations
shall continue in favor of such other corporation or entity. Subject to the
foregoing, the rights and obligations under this Agreement shall inure to the
benefit of, and shall be binding upon, the heirs, legatees, successors and
permitted assigns of the Consultants, and upon the successors and assigns of the
Company.

     

               6.           Default.

     

                          6.1.
In the event either of the Consultants commits any material violation of the
provisions of this Agreement, then, in addition to any other remedies which the
Company might have at law or in equity, the Company shall have the right to
set-off any actual and reasonable damages incurred by it against any payments
otherwise due hereunder. Nothing contained herein shall preclude the Company
from seeking damages or injunctive relief against the Consultants as provided in
Section 6.2.

     

                          6.2
In the event either of the Consultants commits any material violation of the
provisions of Section 2 of this Agreement, as determined by the Company in good
faith, the Company may, by injunctive action, compel the Consultants to comply
with, or restrain the Consultants from violating, such provision, and, in
addition, and not in the alternative, the Company shall be entitled to declare
the Consultants in default hereunder and to terminate any further payments
hereunder.

     

               7.         Severability and
Reformation. The parties hereto intend all provisions of this Agreement
to be enforced to the fullest extent permitted by law. If any restriction set
forth in Section 2 is held by a court of competent jurisdiction to be
unenforceable with respect to one or more geographic areas, lines of business
and/or months of duration, then Consultants agree, and hereby submit, to the
reduction and limitation of such restriction to the minimal extent necessary so
that the provisions of Section 2 shall be enforceable. If any other provision of
this Agreement is held to be illegal, invalid, or unenforceable under present or
future law, such provision shall be fully severable, and this Agreement shall be
construed and enforced as if such illegal, invalid or unenforceable provision
were never apart hereof, and the remaining provisions shall remain in full force
and shall not be affected by the illegal, invalid, or unenforceable provision,
or by its severance.

    

    
      
        
           

        

        
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               8.        Notices. Any notices
required by this Agreement shall (i) be made in writing and mailed by certified
mail, return receipt requested, with adequate postage prepaid, (ii) be deemed
given when so mailed, (iii) be deemed to be received by the addressee within ten
(10) days after given or when the certified mail receipt for such mail is
executed, whichever is earlier, and (iv) in the case of the Company, be mailed
to its principal office, or in the case of the Consultants, be mailed to the
last address that the Consultants have given to the Company.

     

               9.         WAIVER OF
JURY TRIAL.
THE PARTIES HEREBY
VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY
IN ANY ACTION, PROCEEDING OR LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF,
UNDER OR IN CONNECTION WITH THIS AGREEMENT.

     

               10.      Miscellaneous.

     

                          10.1.
This Agreement may not be amended except by a written instrument signed and
delivered by the parties hereto.

     

                          10.2.
This Agreement, together with the Acquisition Agreement, constitute the
entire understanding between the parties hereto with respect to the subject
matter hereof, and all other agreements relating to the subject matter hereof
are hereby superseded.

     

                          10.3.
This Agreement shall be governed by, and construed in accordance with, the laws
of the Commonwealth of Pennsylvania.

     

                          10.4. The Company's Affiliates
are intended to be third-party beneficiaries of this Agreement, whether or not
parties hereto, and each of them shall have the right to enforce this Agreement
against the Consultants, whether or not the Company joins in such
action.

     

     

     

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               IN
WITNESS WHEREOF, the parties have executed, under seal, this Consulting and
Non-Competition Agreement as of the day and year first above
written.

     

     

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        	 
      	 	 
      	 
      
	 
      	

                                                Robert
      O. Young

                                              	 
      
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 
      	

                                                Shelley
      R. Young

                                              	 
      
	 	 	 	 
	 	 	 	 
	 
      	

                                                DARIUS
      MARKETING. INC.

                                              	 
      
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 
      	By:	
                                                 

                                              	 
      
	 
      	

                                                Ronald
      R. Howell, President

                                              	 
      

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

     

    
      - 9
-Exhibit
10.1

 

RETENTION
AGREEMENT

 

This Agreement, entered into
the 19th day of March, 2009, is between Toreador
Resources Corporation (“Toreador”) and Charles Campise (“Employee”).

 

1.                                      Obligations
of Toreador.  Toreador
will offer Employee the Waiver, Release, and Separation from Employment Letter
Agreement, attached hereto as Exhibit A, upon the date of Employee’s
termination (currently scheduled for August 30, 2009); provided that the
Employee has not voluntarily terminated his or her employment or been terminated
for “Cause.”

 

2.                                      Obligations
of Employee.  Employee agrees
to work for Toreador until  Toreador
terminates Employee’s employment. 
Toreador will not be obligated to offer Employee the Waiver, Release,
and Separation from Employment Letter Agreement if Employee voluntarily resigns
his/her employment with Toreador prior to the date that Toreador terminates
Employee’s employment or if Employee is terminated for “Cause.”

 

3.                                      Definition
of Cause.  For purposes
of this Agreement, Employee’s termination will be for Cause if the Employee:

 

1)              Is convicted of
a felony (as defined in the Texas Penal Code);

2)              Pleads guilty
or no contest to a felony;

3)              Perpetrates
fraud on, embezzles from, or breaches a fiduciary duty owed to Toreador;

4)              Commits a
material violation of Toreador policy; or

5)              Engages in
misconduct that results in material harm to Toreador.

 

4.                                      Changes
to the Separation Benefits.   The Waiver, Release, and Separation from
Employment Letter Agreement represents what you will be offered assuming that
you do not voluntarily resign and are not terminated for Cause.  However, the Separation Benefits are subject
to upward adjustment dependant upon the following:

 

a.                                       Change in Stock
Price:  Toreador’s stock price as of February 19,
2009 was $2.47/share.  If Toreador’s
stock price is below $2.22/share as of the date of your termination, the common
stock grant of 129,000 shares will be revised so that you will receive an amount
of shares equal to $318,630 divided by the Toreador stock price as of the date
of your termination.

 

b.                                      Achievement of
Milestones:  Listed below
are four “Milestones” that, if achieved, would raise the total value of your
Separation Benefits by $81,112.  At the
Company’s sole option, this increase in value will be added to either your lump
sum cash payment, your common stock grant, or some combination of cash payment
and stock grants.  All of the
Milestone’s must be achieved before June 30, 2009.  If, through no fault of the Employee’s, it is
impossible to achieve any Milestone because the equipment and/or staff has not
been put into place at the Paris, France office, the Milestone will be deemed
achieved.

 

 

Milestone
1:  The information technology
department at the new Toreador headquarters in Paris, France is fully
functioning.

 

Milestone
2:  All of the corporate accounting
and consolidation systems have been successfully transferred to Paris, France.

 

Milestone
3:  All Microsoft Excel, Word,
and Powerpoint documents have been successfully transferred to Paris, France.

 

Milestone
4:  The Paris, France accounting
staff is fully trained to perform the functions previously performed by the
accounting staff in Dallas, Texas.

 

 

	
  ACCEPTED AND AGREED BY EMPLOYEE:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Signature:

  	
       /s/
  Charles Campise

  	
   

  	
  Date:

  	
     March 19,
  2009

  
	
   

  	
  Charles
  Campise

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  FOR TOREADOR

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
       /s/
  Charles Campise

  	
   

  	
  Date:

  	
         March 19,
  2009

  
	
   

  	
  Craig M.
  McKenzie

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  President
  and CEO

  	
   

  	
   

  	
   

  
						

 

 

EXHIBIT A

 

TO:                            Charles
Campise

 

Re:                             Waiver,
Release and Separation from Employment Letter Agreement

 

This is an Agreement between
Toreador Resources Corporation (“Toreador” or the “Company”) and you.

 

SEPARATION BENEFITS

 

In connection with a
restructuring and relocation plan, the Dallas office will be closing and
substantially all of the employees terminated. 
Your position is scheduled for termination on August 30, 2009, and
you will involuntarily separated from service on that date.  The Company will, in consideration of your
signing and agreeing to waive and release claims as set out in this document,
provide you with the following Separation Benefits.  You would not otherwise be entitled to these
Separation Benefits under any employment contract, company policy or any law.

 

The Separation
Benefits consist of:

 

·                  A lump sum cash payment of $40,000;

 

·                  125,000 shares of Toreador Common
Stock;

 

·                  Immediate Vesting of 14,899 shares of
outstanding stock grants;

 

·                  COBRA Continuation for 18 months (as
explained below);

 

·                  The cash value of any accrued, unused
paid time off.

 

In order to be paid the
Separation Benefits, you must sign this Agreement and return it as instructed
below.

 

The lump sum cash payment and
accrued, unused paid time off will be paid, less legally required deductions
and withholdings, after the Company receives the executed Agreement.  The stock grants will be processed through
American Stock Transfer, and the certificates will be forwarded to you at your
home address.  In the event of your death
prior to receiving the Separation Benefits, your estate will receive the
Separation Benefits on your behalf.

 

COBRA Continuation - In
accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985, as
amended (“COBRA”), if you are a current participant in the Company’s group
health plan and you timely elect COBRA continuation coverage for yourself and
your  dependents (provided they were
covered under the Company’s group health plan immediately prior to your
termination of employment), the Company will pay 100% of the premiums for such
coverage for a period of eighteen (18) months. 
Thereafter, if you are eligible and wish to continue your continuation
coverage, and the maximum applicable COBRA coverage period has 

 

 

not expired, you may continue
your coverage, but you shall be solely responsible for payment of any required
COBRA premium.

 

GLOBAL RELEASE OF
CLAIMS

 

In consideration of the
Separation Benefits described above, I,                     (Print
your name), hereby agree to unconditionally release and discharge the Company,
its predecessors, successors and assigns, parents, subsidiaries, shareholders,
divisions, affiliates, agents, directors, officers, employees, representatives,
attorneys, the registered public accounting firm and all persons acting by,
through, under or in concert with any of them, from liability for any claims
that I may have against it and them as of the date of my signature on this
document.

 

I understand, agree, and
acknowledge that this waiver and release includes, without limitation, any
disputes or claims related to, or arising out of (a) my employment with
the Company, including the terms and conditions of my employment (such as
compensation, benefits, equity, and any other payment); (b) my separation
from employment with the Company; (c) any employment contracts between me
and the Company; and (d) all claims that I may have had or now have, that
have been or could be asserted by me, including, but not limited to, all known
or unknown claims against the Company under any collective bargaining
agreement; federal, state or local law, such as Title VII of the Civil Rights
Act of 1964, as amended (“Title VII”), the Employee Retirement Income Security
Act (“ERISA”), the Fair Labor Standards Act (“FLSA”), the Age Discrimination in
Employment Act (“ADEA”), the Americans with Disabilities Act (“ADA”), the
Family and Medical Leave Act (“FMLA”), the Worker Adjustment and Retraining
Notification Act (“WARN”); the Sarbanes Oxley Act (“SOX”); the Lilly Ledbetter
Fair Pay Act; the Texas Labor Code; or any claim for violation of common law,
breach of contract, retaliation or wrongful discharge, tort or other civil
wrong.

 

This document in no way affects
my ability to bring a charge of discrimination with or participate in an
investigation conducted by the Equal Employment Opportunity Commission.

 

ADDITIONAL INFORMATION

 

The Dallas office will be
permanently closed and all employees reporting, directly or indirectly, to
Chief Executive Officer Craig McKenzie will be terminated.  The terminations will take place according to
a schedule commencing on March 17, 2009 and ending on September 30,
2009.  All employees terminated as a
result of this closing are eligible for separation benefits provided that they
execute a release of claims.  A chart of
the job titles and ages of the affected employees is attached as Exhibit A.  This information is being provided pursuant
to the Older Worker Benefits Protection Act (“OWBPA”) so that you can make an
informed decision regarding the waiver of any claims arising under the ADEA.

 

TIME TO CONSIDER
RELEASE

 

I understand that I have forty-five
(45) calendar days to review and consider the provisions of this release.  I also understand that I do not have to wait
forty-five (45) days to accept the agreement, and, if I sign and return this
agreement before the forty-five (45) days have passed, the seven (7) day
revocation period described below will begin upon signing.

 

 

TIME FOR REVOCATION

 

I understand that once I sign
and deliver this release, I have seven (7) calendar days to revoke this
agreement without penalty.  I understand
that I will receive no benefits under this Agreement if I revoke within the 7
day period.  Revocation is only effective
if, before the expiration of the seven (7) calendar days, I deliver a
notice of revocation to Craig M. McKenzie. 
I also understand that this agreement does not become effective or
enforceable until the seven (7) calendar days are over and I have not
exercised my right of revocation.  I
understand that until this revocation period closes, I will not receive any of
the Separation Benefits described above.

 

ATTORNEY
CONSULTATION

 

I understand that it is my
right to consult with an attorney before signing this agreement.  Toreador advises you to consult with an
attorney before signing this agreement.

 

KNOWINGLY AND
VOLUNTARILY

 

I agree that I fully understand
all the provisions of this Agreement.  I
am voluntarily entering into this Agreement with full knowledge of the terms
contained in the Agreement and the fact that I do not have to sign this
Agreement.

 

ENTIRE AGREEMENT

 

I agree that this document sets
forth the entire Agreement between the Company and me, and fully supersedes any
and all prior agreements, understandings or representations between the Company
and me pertaining to the subject matter of this Agreement.  I represent and acknowledge that in executing
this Agreement, I am not relying, and have not relied, upon any representation(s) by
the Company or its agents, except as expressly contained in this Agreement.

 

 

INSTRUCTION TO READ
THIS DOCUMENT CAREFULLY

 

Please read
this document carefully prior to signing it. 
You are being asked, in exchange for the Separation Benefits, to release
potentially valuable legal rights.

 

I understand that the terms of
this Agreement are confidential and agree not to disclose any
information concerning the terms of this Agreement to anyone, except when
consulting legal counsel regarding this agreement; immediate family; and as
required by law or as necessary to file my federal, state or local tax returns.

 

We advise you to take the time
to consider whether you want to sign this document and to consult with any
attorney you choose.  Please indicate
your understanding, acceptance and approval of this Agreement by signing your
name, dating your signature where indicated below, and returning it to Craig M.
McKenzie 13760 Noel Road, Suite 1100, Dallas, Texas, 75240..  The enclosed duplicate original is for you to
keep.

 

	
   

  	
  ACCEPTED AND
  AGREED BY EMPLOYEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Please sign
  and print your name on the line above.

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  FOR TOREADOR

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Craig M.
  McKenzie

  
	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  President
  and CEO

  
	
   

  	
   

  	
   

  
	
   

  	
  Date:

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