Document:

ex10_4.htm

    
      

    

    EXHIBIT
10.4

    

    

    LEEXUS
OIL L.L.C.

    PARTICIPATION
AGREEMENT

    

    
      
        
          	
                  NAME & ADDRESS OF
      PARTICIPANT

                	 
      	
                  TEL/FAX NUMBER

                
	 
      	 
      	 
      
	
                  Enthoes
      Technologies, Inc.

                	 
      	
                  (403)
      444-6418

                
	
                  Bankers
      Hall West Tower

                	 
      	
                  (403)
      444-6699

                
	
                  Suite
      1000, 888 Third Street SW

                	 
      	 
      
	
                  Calgary,
      AB T2P 5C5

                	 
      	 
      
	 
      	 
      	 
      

        

      

    

    

    
      	
              RE:

            	
              Pearce
      #1 Well

            

    

    FRIO
COUNTY, TEXAS

    

    Dear
Sir:

    

    This will
confirm the agreement made and entered into this   15th  ,
day, of September, 2008, by
and between the undersigned, LEEXUS OIL L.L.C., hereinafter called (“LEEXUS
OIL”), and you, hereinafter called (“PARTICIPANT (Non-Operator”), relating to
the captioned wells and respective oil and gas leases, hereinafter called
(“WELLS”).

    

    LEEXUS
OIL represents that it is a working interest owner in the WELLS, situated in LEE
County, Texas, and more specifically described on Exhibit “A” attached hereto
and by this reference made a part hereof.

    

    PARTICIPANT
(NON-OPERATOR) desires to purchase from LEEXUS OIL a percentage working interest
in and to the WELLS as subscribed herein.

    

    That for
and in consideration of the mutual covenants herein contained, LEEXUS OIL and
PARTICIPANT (NON-OPERATOR) do hereby covenant and agree as follows:

    

    
      	
            	
              1.

            	
              INTEREST:
      PARTICIPANT (NON-OPERATOR) WILL DESIGNATE THE PERCENTAGE WORKING INTEREST
      BELOW THAT THEY ARE ACQUIRING IN AND TO THE
  WELLS.

            

    

    

    
      	
            	
              2.

            	
              PAYMENT: Upon
      acceptance of this agreement by PARTICIPANT, PARTICIPANT (NON-OPERATOR)
      will remit payment representing consideration for the interest being
      acquired by PARTICIPANT (NON-OPERATOR) to LEEXUS OIL in the AFE pro-rata
      amount of $56,000.00 plus a prospect fee of $11,200.00 for a total amount
      of $67,200.00.

            

    

    

    
      	
            	
              3.

            	
              ASSIGNMENT:
      Upon receipt of payment from PARTICIPANT (NON-OPERATOR) for the interest
      being acquired herein, LEEXUS OIL will execute an ASSIGNMENT AND BILL OF
      SALE conveying said interest to PARTICIPANT.  It is understood
      and agreed by all parties hereto that the interests to be assigned in and
      to the WELLS shall be made on an “as-is, where-is” basis and LEEXUS OIL
      expressly disclaims any warranty of any kind.  LEEXUS OIL will
      provide PARTICIPANT (NON-OPERATOR) a copy of the ASSIGNMENT AND BILL OF
      SALE for their review and consideration upon LEEXUS OIL prior to execution
      of this Letter Agreement.  Acceptance and execution of this
      Letter Agreement by PARTICIPANT (NON-OPERATOR) shall be deemed acceptance
      of the previously referenced ASSIGNMENT AND BILL OF SALE
    form.

            

    

    
      
         

      

      
        E-1

        
          

        

      

      
         

      

    

     

    
      	
            	
              4.

            	
              JOINT OPERATING
      AGREEMENT: LEEXUS OIL and PARTICIPANT (NON-OPERATOR) agree to add,
      amend, ratify the current Master Joint Operating Agreement (“Master JOA”)
      with COPAS Joint Accounting Procedure, originally signed and dated October
      15, 2008, and contemporaneously herewith, designating LEEXUS OIL L.L.C. as
      Operator of the WELLS.  PARTICIPANT (NON-OPERATOR) will be
      responsible and liable for paying their proportionate share of any and all
      monthly operating costs, rework costs or any and all other costs as may be
      incurred as a result of conducting operations in accordance with the
      Master JOA as of the effective date and thereafter.  In the
      event of any conflict between the provisions of the Joint Operating and
      this Letter Agreement, both parties agree the terms of this Letter
      Agreement shall control.

            

    

    

    
      	
               
      

            	
              5.

            	
              SECURITIES
      DISCLAIMER: THE PARTIES UNDERSTAND AND AGREE THAT THE PROPOSED
      VENTURE IS A HIGHLY SPECULATIVE ONE AND THAT NO REPRESENTATIONS ARE MADE
      TO PARTICIPANT(S) AS TO THE SUCCESS OF THE VENTURE OR FINANCIAL GAIN.
      PARTICIPANT (NON-OPERATOR) REPRESENTS AND WARRANTS THAT THEY ARE A
      SOPHISTICATED OIL AND GAS INVESTOR.  THE PARTIES AGREE AND
      UNDERSTAND THIS IS NOT A REGISTERED SECURITIES
      AGREEMENT.

            

    

    

    
      	
            	
              6.

            	
              TAX STATUS: It
      is understood that LEEXUS OIL and PARTICIPANT (NON-OPERATOR) are not
      partners and each of them elects, under the authority of Section 761(a) of
      the Internal Revenue Code of 1954, to be excluded from the application of
      all the provisions of Subchapter K of Chapter 1 of Subtitle A
      thereof.

            

    

    

    
      	
            	
              7.

            	
              ENTIRE
      AGREEMENT: This Participation Agreement, the Master JOA, and the
      COPAS Joint Accounting Procedure hereby incorporated by reference,
      constitute the entire agreement by and between LEEXUS OIL and PARTICIPANT
      (NON-OPERATOR) and may not be altered or amended except in writing signed
      by both parties.

            

    

    

    
      	
            	
              8.

            	
              GOVERNING LAW:
      This Agreement shall be governed by the laws of the State of
      Texas.

            

    

    

    
      	
            	
              9.

            	
              WARRANTY
      DISCLAIMER: LEEXUS OIL makes no warranty of title, express or
      implied, with respect to the WELLS or any leasehold or other right(s)
      acquired hereunder.  PARTICIPANT’S interest in and to the WELLS
      will be acquired on an “as-is, where-is”
basis.

            

    

    
      
         

      

      
        E-2

        
          

        

      

      
         

      

    

     

    If the
terms and provisions of this agreement are in accordance with your
understanding, please signify your approval by executing and returning both
copies of this agreement with your check, and we will execute and return one
copy to you.

    

    I have
read and fully understand this agreement, acknowledge this agreement is not a
registered security, and AGREE TO, ACCEPT AND APPROVE this agreement this __________ day of
____________________,
2008.

    
 

    
      
        
          
            
              	
                      EFFECTIVE
      DATE OF

                      ASSIGNMENT
      AND BILL OF SALE:

                    	
                      8/8THS
      WORKING

                      INTEREST:

                    	
                      NET
      REVENUE

                      INTEREST:

                    
	 
      	 
      	 
      
	
                      October 15, 2008

                    	
                      20%

                    	
                      15%

                    
	 
      	
                      75% - Net Revenue
      Basis

                    	 
      

            

          

        

      

    

    
 

    
      
        	 
      	
                ENTHEOS
      TECHNOLOGIES, INC.

              

      

    

    

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              	 
      	 	 
      	 
      	 
	
                                      WITNESS:

                                    	 	
                                      By:

                                    	
                                      Derek
      Cooper, President

                                    	 

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

    

    

    
      
        
          	
                  Social
      Security Number or tax Identification Number:

                	 	 
      

        

      

    

    

    

    
      
        	 
      	
                LEEXUS
      OIL L.L.C.

              

      

    

    

    

    
      
        
          
            	 
      	 
      	 
      	 
      	 
	
                    WITNESS:

                  	 
      	
                    By:

                  	
                    Mark
      Jaehne, Gen. Partner

                  	 

          

        

      

    

    

       

      E-3ex10_27.htm

    
      

    

    Exhibit
10.27

     

     

    RELEASE
AGREEMENT

     

     

    I
understand and agree completely to the terms set forth in the LeapFrog
Enterprises, Inc. Executive Management Severance and Change in Control Benefit
Plan (the “Plan”).

     

    I
understand that this Release, together with the Plan, constitutes the complete,
final and exclusive embodiment of the entire agreement between LeapFrog
Enterprises, Inc. (the “Company”)
and me with regard to the subject matter hereof.  I am not relying on
any promise or representation by the Company that is not expressly stated
therein.  Certain capitalized terms used in this Release are defined
in the Plan.

     

    I hereby
confirm my obligations under my Employee Proprietary Information and Inventions
Agreement, including without limitation the provisions regarding return of
Company property upon my departure from the Company.

     

    I hereby
represent that I have been paid all compensation owed and for all hours worked,
have received all the leave and leave benefits and protections for which I am
eligible, pursuant to the Family and Medical Leave Act or otherwise, and have
not suffered any on-the-job injury for which I have not already filed a
claim.

     

    In
exchange for the consideration to be provided to me hereunder and under the Plan
that I am not otherwise entitled to receive, I hereby generally and completely
release the Company, its predecessors, successors, parent and subsidiary
entities, and each of their current and former directors, officers, employees,
shareholders, partners, agents, attorneys, insurers, affiliates, and assigns
from any and all claims, liabilities and obligations, both known and unknown,
that arise out of or are in any way related to events, acts, conduct, or
omissions occurring prior to my signing this Release.  This general
release includes, but is not limited to: (a) all claims arising out of or in any
way related to my employment with the Company or the termination of that
employment; (b) all claims related to my compensation or benefits from the
Company, including salary, bonuses, commissions, vacation pay, expense
reimbursements, severance pay, fringe benefits, stock, stock options, or any
other ownership interests in the Company; (c) all claims for breach of contract,
wrongful termination, and breach of the implied covenant of good faith and fair
dealing; (d) all tort claims, including claims for fraud, defamation, emotional
distress, and discharge in violation of public policy; and (e) all federal,
state, and local statutory claims, including claims for discrimination,
harassment, retaliation, attorneys’ fees, or other claims arising under the
federal Civil Rights Act of 1964 (as amended), the federal Americans with
Disabilities Act of 1990, and the federal Age Discrimination in Employment Act
of 1967 (as amended) (“ADEA”).   Nothing
in this Release shall prevent me from challenging this Release by filing,
cooperating with, or participating in any proceeding before the Equal Employment
Opportunity Commission, the Department of Labor, or any local fair employment
practices agency, except that I hereby acknowledge and agree that I shall not
recover any monetary benefits in connection with any challenge to my
Release.

     

    I
acknowledge that I am knowingly and voluntarily waiving and releasing any rights
I may have under the ADEA (“ADEA
Waiver”).  I also acknowledge that the consideration given for
the ADEA Waiver is in addition to anything of value to which I was already
entitled.  I further acknowledge that I have been advised by this
writing, as required by the ADEA, that:  (a) my ADEA Waiver does not
apply to any rights or claims that arise after the date I sign this Release; (b)
I should consult with an attorney prior to signing this Release; (c) I have
forty-five (45) days to consider this Release (although I may choose to
voluntarily sign it sooner); (d) I have seven (7) days following the date I sign
this Release to revoke the ADEA Waiver; and (e) the ADEA Waiver (and this
Release) will not be effective until the date upon which the revocation period
has expired unexercised, which will be the eighth day after I sign this
Release.

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

    I have
received with this Release a written disclosure of all of the information
required by the ADEA, including without limitation a detailed list of the job
titles and ages of all employees who were terminated in this group termination
and the ages of all employees of the Company in the same job classification or
organizational unit who were not terminated, along with information on the
eligibility factors used to select employees for the group termination and any
time limits applicable to this group termination program.

     

    I
acknowledge that I have read and understand Section 1542 of the California Civil
Code which reads as follows: “A
general release does not extend to claims which the creditor does not know or
suspect to exist in his or her favor at the time of executing the release, which
if known by him or her must have materially affected his or her settlement with
the debtor.”  I hereby expressly waive and relinquish all
rights and benefits under that section and any law of any jurisdiction of
similar effect with respect to my release of any claims hereunder.

     

    I further agree not to
disparage the Company, its affiliated, related, parent and subsidiary
corporations, and its and their present and former directors, officers,
employees, attorneys and agents in any manner likely to be harmful to them or
their business, business reputation or personal reputation, provided that I may
respond accurately and fully to any question, inquiry or request for information
when required by legal process.

     

    I
acknowledge that the terms of this Release Agreement and the severance benefits
I receive under the Plan are confidential information and I agree to hold such
information in strictest confidence and will not publicize or disclose such
information in any manner whatsoever; provided, however, that: (a) I may
disclose such information to my immediate family; (b) I may disclose such
information in confidence to my attorneys, accountants, auditors, tax preparers,
and financial advisors; and (c) I may disclose such information insofar as such
disclosure may be necessary to enforce the terms of the Plan or as otherwise
required by law.  In particular, and without limitation, I agree not
to disclose the terms of this Release Agreement or my severance benefits to any
current or former Company employee.

     

    I agree
that if any provision of this Release Agreement is determined to be invalid or
unenforceable, in whole or in part, this determination will not affect any other
provision of this Release Agreement and the provision in question shall be
modified so as to be rendered enforceable in a manner consistent with the intent
of the parties insofar as possible under applicable law.

     

    I
acknowledge that to become effective, I must sign and return this Release to the
Company so that it is received not later than forty-five (45) days following the
date this Release and the ADEA disclosure form is provided to me, and must not
revoke the ADEA Waiver.

     

     

    
      
        	 
      	
                Employee

              
	 
      	 
      
	 
      	
                Name:   /s/
      Martin Pidel

              
	 
      	 
      
	 
      	
                Date:  December
      12, 2008

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