Document:

AMENDMENT
      NO. 1 TO

    EMPLOYMENT
      AGREEMENT 

    

    

    This
      Amendment No. 1 (the “Amendment”) to the Employment Agreement, dated as of
      October 1, 2005 (the “Employment Agreement”), is made as of March 26, 2007 (the
“Execution Date”), by and between O2Diesel Corporation, a Delaware corporation
      (the “Company”) and David H. Shipman (the “Executive”).

     

    WHEREAS,
      the parties previously entered into the Employment Agreement; and

    

    WHEREAS,
      the Company has decided to amend the Employment Agreement to increase the
      Executive’s Base Salary.

    

    NOW,
      THEREFORE, in consideration of the mutual promises and covenants herein, the
      receipt and sufficiency of which are hereby acknowledged, and intending to
      be
      legally bound, the parties hereto agree as follows:

    

    1.
      AMENDMENT TO SECTION 4.1 OF THE EMPLOYMENT AGREEMENT. 

    

    The
      first
      sentence of Section 4.1 of the Employment Agreement is hereby deleted in its
      entirety and inserting the following text in lieu thereof:

     

    “In
      consideration of the services rendered to the Company hereunder by the Executive
      and the Executive’s covenants hereunder, effective as of January 1, 2007, the
      Company shall, during the Term, pay to the Executive an annual base salary
      at a
      rate of $210,000 (the “Base Salary”), less statutory deductions and
      withholdings, payable in accordance with the Company’s normal payroll
      practices.”
      

    

    2.
      GENERAL. 

    

    Except
      as
      expressly provided herein, the Employment Agreement shall be unmodified and
      shall remain in full force and effect in accordance with its terms.

    

    [Remainder
      of Page Intentionally Left Blank] 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
      foregoing agreement is hereby executed effective as of the date first set first
      set forth above. 

    

    
      	 	 	O2DIESEL
              CORPORATION 
	 	 	 	 
	 	 	By: 	/s/
              Alan R. Rae 
	 	 	Name: 	Alan R. Rae 
	 	 	Title: 	Chief Executive Officer 
	 	 	 	 
	 	 	 	 
	 	 	/s/
              David H. Shipman 
	 	 	David H.
              ShipmanSUPPLY
      AND DISTRIBUTION AGREEMENT

     

    This
      Supply and Distribution Agreement (the “Agreement”),
      effective as of 9 March, 2007 (the “Effective
      Date”),
      is
      made between O2Diesel Corporation (“O2Diesel”),
      having its registered office at 100 Commerce Drive, Newark, DE 19713, USA and
      Fair Energy S.A. (“Distributor”)
      having
      its registered office at Rue du Mont Blanc 7, 1201 Geneva, Switzerland (each
      a
“Party,”
and
      collectively the “Parties”).

     

    WHEREAS,
      O2Diesel has developed proprietary technology for oxygenating diesel fuel,
      including a proprietary fuel additive, and market development experience from
      its activities in the United States and Brazil;

     

    WHEREAS,
      Distributor desires to obtain a supply of O2Diesel’s proprietary fuel additive;
      and

     

    WHEREAS,
      O2Diesel desires to appoint Distributor as a distributor and provide such
      additive and support;

     

    NOW,
      THEREFORE, in consideration of the mutual promises contained in this Agreement
      and for other good and valuable consideration, the adequacy and sufficiency
      of
      which are hereby acknowledged, the Parties, intending to be legally bound,
      hereby agree as follows.

     

    
      	1.	
              Definitions.

            

    

     

    
      	 	
              1.1

            	
              “Affiliate”
                with respect to a Person, means any other Person controlling, controlled
                by or under common control with, such first
                Person.

            

    

     

    
      	 	
              1.2

            	
              “O2Diesel
                Additive”
                means an O2Diesel proprietary compound that allows the mixing of
                diesel
                fuel and ethanol.

            

    

     

    
      	 	
              1.3

            	
              “O2Diesel
                Product”
                means oxygenated diesel fuel comprising base diesel fuel, the O2Diesel
                Additive, ethanol and a cetane improver, conforming to the specifications
                for such product provided by O2Diesel as per attached documents (including
                all improvements or branded
                products).

            

    

     

    
      	 	
              1.4

            	
              “Person”
                means a natural person, a corporation, a partnership, a trust, a
                joint
                venture, any governmental authority or any other entity or
                organization.

            

    

     

    
      	 	
              1.5

            	
              “Term”
                shall have the meaning given in Section
                11.1.

            

    

     

    
      	 	
              1.6

            	
              “Territory”
                means Bolivia, Paraguay, Colombia and Switzerland.
                

            

    

     

    
      	 	
              1.7

            	
              “Third
                Party”
                means any Person that is not a Party to this
                Agreement.

            

    

     

    
      	2.	
              Supply
                of O2Diesel Additive.

            

    

     

    
      	 	
              2.1

            	
              Appointment
                of Distributor.
                As
                of the Effective Date, O2Diesel hereby appoints on an exclusive basis
                Distributor as a distributor of O2Diesel Product in the Territory
                subject
                to the terms and conditions of this Agreement. For as long as Distributor
                has materially performed and continues to materially perform its
                obligations under this Agreement, O2Diesel is prohibited from entering
                into any agreement and/or arrangement to directly or indirectly distribute
                or sell and/or authorize a Third Party to distribute and/or sell
                O2Diesel
                Product in the Territory and distribute or sell to any Third Party
                O2Diesel Additive in the Territory. For as long as O2Diesel has materially
                performed and continues to materially perform its obligations under
                this
                Agreement, Distributor is prohibited from purchasing any competing
                product
                of O2Diesel Additive.

            

    

     

    
      [*]
        =
        CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY
        WITH
        THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN
        REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. OMITTED TEXT IS INDICATED
        BY A
“*”.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    
      	 	
              2.2

            	
              Ordering
                and Delivery.
                Distributor
                shall purchase and O2Diesel shall sell the O2Diesel Additive on the
                basis
                of Distributor purchase orders. Distributor shall submit the purchase
                orders for a requested quantity of O2Diesel Additive at least twelve
                (12)
                weeks prior to the requested delivery date. O2Diesel shall supply
                the
                requested quantity at a price agreed in the purchase order and the
                delivery shall be CIF. Further, the terms and conditions of the purchase
                order shall be in addition to the terms of this Agreement provided
                that,
                if any term of the purchase order is inconsistent with the terms
                of this
                Agreement, the terms of this Agreement shall prevail.
                

            

    

     

    
      	 	
              2.3

            	
              Minimum
                Volume.
                The
                Parties have agreed that Distributor shall place orders and O2Diesel
                shall
                supply the minimum of O2Diesel Additive (the “Minimum
                Volume”)
                at the price as set forth on Schedule
                A
                and O2Diesel shall in no event fail to supply the Minimum Volume
                provided
                however that, if the price of ethanol increases by * over the agreed
                price
                (“Price
                Threshold”)
                Distributor may at its option temporarily defer purchasing the Minimum
                Volume (“Deferred
                Volume”)
                and in such a case, Distributor shall be obligated to purchase the
                Deferred Volume once the price decreases below the Price Threshold
                over
                the same amount of time the Deferred Volume was deferred. For example,
                if
                the ethanol price is greater than the Price Threshold for six (6)
                months,
                Distributor shall have up to six (6) months to purchase the Deferred
                Volume. In the event that O2Diesel ceases to distribute the O2Diesel
                Additive in the Territory, O2Diesel shall assist Distributor in obtaining
                an agreement with Cognis Deutschland GmbH on the same terms and conditions
                that O2Diesel or its subsidiaries was supplying the O2Diesel Additive
                in
                the Territory. 

            

    

     

    
      	 	
              2.4

            	
              Forecasting.
                After the first commercial sale of O2Diesel Product, on a quarterly
                basis
                within five (5) days of the beginning of each quarter, Distributor
                shall
                provide non-binding forecasts of its expected requirements of O2Diesel
                Additive for the following twelve (12)
                months.

            

    

     

    
      	 	
              2.5

            	
              Use
                of O2Diesel Additive.
                Distributor shall: (a) use O2Diesel Additive only to make O2Diesel
                Product, in accordance with all specifications and guidance provided
                by
                O2Diesel for the manufacture, use, handling, storage, transportation
                and
                disposal of O2Diesel Additive and O2Diesel Product; (b) resell
                O2Diesel Additive only as blended into O2Diesel Product or to Third
                Parties who agree to blend the O2Diesel additive into O2Diesel Product,
                in
                accordance with all specifications and guidance provided by O2Diesel
                for
                the manufacture, use, handling, storage, transportation and disposal
                of
                O2Diesel Additive and O2Diesel Product; and (c) not analyze or reverse
                engineer the O2Diesel Additive to determine its composition or method
                of
                manufacture.

            

    

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    
      	 	
              2.6

            	
              Sourcing
                of Other Supplies.
                O2Diesel acknowledges that, excluding O2Diesel Additive, neither
                Party is
                responsible for ensuring that the end user / blender has sufficient
                equipment and supplies for its performance under this Agreement,
                including
                supplies of base diesel fuel, ethanol and cetane improver for the
                production of O2Diesel Product.

            

    

     

    
      	 	
              2.7

            	
              Government
                Approvals.
                Distributor
                together with the end user/purchaser shall investigate and determine
                whether any governmental approvals will be necessary for the distribution
                and use of O2Diesel Product in the Territory prior to selling any
                O2Diesel
                Product in the Territory. If Distributor together with the end
                user/purchaser have determined that governmental approvals are necessary
                for the distribution and use of O2Diesel Product in the Territory,
                they
                shall, promptly thereafter apply for such approvals in their name.
                O2Diesel agrees to provide all necessary information and support
                Distributor in obtaining such approval. A
                report
                of this information shall be delivered to O2Diesel promptly. In
                any
                event, Distributor shall consult with O2Diesel concerning all material
                issues in obtaining and maintaining governmental approvals and provide
                O2Diesel copies of all test results, applications, correspondence
                and
                other documents relating to government approvals. O2Diesel shall
                neither
                have any right to reproduce, use and disclose the foregoing approval
                nor
                shall it authorize the same for purposes of distributing oxygenated
                diesel
                fuel or other products without the prior written consent of Distributor.
                In any event, Distributor shall consult with O2Diesel concerning
                all
                material issues in obtaining and maintaining governmental approvals
                and
                provide O2Diesel copies of all test results, applications, correspondence
                and other documents relating to government approvals. O2Diesel shall
                have
                the perpetual right to reproduce, use and disclose the foregoing
                and
                authorize the same for purposes of distributing oxygenated diesel
                fuel or
                other products.

            

    

     

    
      	 	
              2.8

            	
              Other
                Territories.
                Distributor and its Affiliates shall not (a) export any O2Diesel
                Additive
                or O2Diesel Product from the Territory or (b) sell O2Diesel Additive
                or
                O2Diesel Product to any Third Party with the knowledge that such
                Third
                Party is likely to resell O2Diesel Additive unblended, resell O2Diesel
                Product, or export O2Diesel Additive or O2Diesel Product from the
                Territory. Distributor acknowledges that O2Diesel may distribute
                or
                authorize distribution of O2Diesel Additive or O2Diesel Product in
                places
                that are outside, but near the boundaries of, the Territory, and
                that it
                would be difficult or impossible to control use of such O2Diesel
                Product
                by truck fleets and other customers operating near the boundaries
                of the
                Territory. O2Diesel shall endeavor that importation and use of O2Diesel
                Product in the Territory by a Third Party who acquires it from O2Diesel
                or
                another authorized source outside the Territory shall not be deemed
                inconsistent with Section 2.1, and Distributor shall take no action
                to interfere with such activity. Notwithstanding the foregoing, each
                Party
                shall notify the other Party about any material such activity, the
                Parties
                shall consult in good faith concerning whether there is any practicable
                action that should be taken as a commercial matter to address the
                situation.

            

    

     

    
      	 	
              2.9

            	
              Safety
                and Blending Procedures.
                Promptly after the Effective Date, O2Diesel shall provide to Distributor
                a
                manual describing procedures for the use, blending and handling of
                O2Diesel Additive and O2Diesel Product, including a material safety
                data
                sheet, procedures for blending O2Diesel Product, fuel tank preparation
                procedures for the storage of O2Diesel Product and sample warning
                decals
                (the “Manual”).
                O2Diesel shall have the right to reasonably add to, delete from and
                otherwise modify the Manual at any time. Distributor and its customers
                shall at all times blend, handle and store the O2Diesel Additive
                in
                accordance with the Manual. 

            

    

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

    
      	3.	
              Payments.

            

    

     

    
      	 	
              3.1

            	
              Minimum
                Purchase.
                Distributor commits to order and take delivery from O2Diesel, during
                the
                first three (3) years of the Term, the quantities of O2Diesel Additive
                set
                forth in Schedule
                A
                (“Minimum Purchase Requirement”). In the event Distributor exceeds the
                Minimum Purchase Requirement for any given year, Distributor shall
                be
                entitled to accumulate such excess amounts and apply them toward
                the
                Minimum Purchase Requirement for any following year. In the event
                Distributor fails to order and take delivery of the minimum required
                quantity of O2Diesel Additive during any year of the Term, O2Diesel
                may
                invoice Distributor for 75% of
                the then-applicable price of the quantity by which Distributor fell
                short
                of the required minimum.

            

    

     

    
      	 	
              3.2

            	
              Payments
                Due.
                All purchase orders from Distributor will be covered by a letter
                of credit
                (“L/C”)
                from first class bank in favor of O2Diesel at least thirty (30) days
                in
                advance of such order. Distributor shall make the payment once telephonic
                evidence of a shipment is received by Distributor. The terms of payment
                covered by L/C will be mutually agreed. Such L/C shall be issued
                by a
                mutually agreed-upon United States
                bank.

            

    

     

    
      	 	
              3.3

            	
              Payments
                in General.
                All amounts payable by Distributor hereunder shall be paid in U.S.
                Dollars
                to O2Diesel by wire transfer, or by such other method mutually agreed
                upon
                by the Parties, for value no later than the due date thereof (with
                twenty-four (24)) hours advance notice of each such wire transfer)
                to such
                bank account or accounts as O2Diesel shall designate in writing within
                a
                reasonable period of time prior to such due date.
                

            

    

     

    
      	 	
              3.4

            	
              Late
                Payments.
                If
                Distributor fails to make any payment required under this Agreement
                when
                due, Distributor shall pay interest on such amount at the rate of
                2% per
                month, or the highest rate allowed by law, whichever is less, from
                the
                date the payment was due until the date the payment is made in full.
                

            

    

     

    
      	 	
              3.5

            	
              Taxes.
                Distributor
                or the end user/purchaser shall pay applicable import taxes and in
                connection with purchase from O2Diesel and all amounts due hereunder
                shall
                be net of any taxes or similar governmental charges as Distributor
                or the
                end user/purhcaser may be liable. All other taxes and other associated
                costs shall be borne by the party liable for the same.
                

            

    

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

     

    
      	4.	
              Use
                of Trademarks.
                

            

    

     

    
      	 	
              4.1

            	
              License
                Grants. 

            

    

     

    
      	 	
              4.1.1

            	
              O2Diesel
                hereby grants to Distributor an exclusive license, subject to instances
                that are beyond O2Diesel’s control, to use the name “O2Diesel” and the
                “O2Diesel” logo or such different or additional trademarks as O2Diesel may
                specify (the “O2Diesel Trademarks”)
                in the Territory during the Term of this Agreement in connection
                with the
                marketing, sale and distribution of O2Diesel Product that conforms
                to
                O2Diesel’s applicable specifications therefor and is produced using
                O2Diesel Additive purchased from O2Diesel pursuant to this Agreement.
                Distributor shall not interfere with the validity and O2Diesel’s ownership
                of the O2Diesel Trademarks and shall not do anything inconsistent
                with
                such validity and ownership. O2Diesel shall give a six months notice
                to
                Distributor to discontinue the use of O2Diesel Trademark and Distributor
                shall cease to use it within a reasonable time, provided that O2Diesel
                shall not during the Term of this Agreement notify Distributor to
                discontinue the use of O2Diesel Trademark. It is agreed between the
                Parties that Distributor shall have the right to sublicense the O2Diesel
                Trademarks to its Affiliates on terms and condition contained in
                this
                Agreement, with O2Diesel’s prior written consent, which consent not to be
                unreasonably withheld. 

            

    

     

    
      	 	
              4.1.2

            	
              Distributor
                hereby grants to O2Diesel a nonexclusive, worldwide license to use
                Distributor’s name and logo (the “Distributor
                Trademarks”)
                during the Term to identify Distributor as the exclusive distributor
                of
                O2Diesel Product in the Territory.

            

    

     

    
      	 	
              4.2

            	
              Limitations
                on Use of Marks.
                Distributor’s use of the O2Diesel Trademarks and O2Diesel’s use of the
                Distributor Trademarks shall (a) be consistent with the high quality
                image
                of the other Party so as to enhance the marks and the goodwill relating
                thereto, (b) conform to the style and usage guidelines prescribed
                by the
                other Party, (c) inure to the benefit of the other Party, and (d)
                be in a
                manner so as not to cause embarrassment to the other Party, tend
                to
                discredit the other Party’s image or reputation for quality, or suggest
                that any actions undertaken are actions of the other Party. On request,
                Distributor promptly shall provide to O2Diesel samples of Distributor’s
                use of the O2Diesel Trademarks, and O2Diesel promptly shall provide
                to
                Distributor samples of O2Diesel’s use of the Distributor Trademarks.
                Nothing in this Agreement shall interfere with a Party’s use of its marks
                anywhere in the world, except that during the Term, so long as the
                terms
                and conditions of this Agreement are met by Distributor, O2Diesel
                shall
                not use or authorize the use of the O2Diesel Trademarks in the Territory
                to indicate a source of oxygenated diesel fuel in the Territory other
                than
                Distributor.

            

    

     

    
      	 	
              4.3

            	
              Protection
                of Marks.
                All rights with respect to the O2Diesel Trademarks and Distributor
                Trademarks not expressly granted in this Agreement are reserved by
                O2Diesel or Distributor, as the case may be. Distributor acknowledges
                the
                validity and O2Diesel’s ownership of the O2Diesel Trademarks, and O2Diesel
                acknowledges the validity and Distributor’s ownership of Distributor’
                Trademarks. Neither Party shall challenge the validity or ownership
                of the
                 other Party’s marks or do anything inconsistent with such validity and
                ownership. Neither Party shall use any unitary composite mark consisting
                of marks of both Parties. Neither Party shall apply for registration
                of
                any of the other Party’s marks as a trademark in any country or oppose
                registration of the other party’s marks by the other Party. The Parties
                may agree in writing that Distributor shall have the right to enforce
                the
                O2Diesel Trademarks against any particular infringement by a distributor
                of oxygenated diesel fuel in the Territory. In other respects, each
                Party
                shall have the sole right, but not the obligation, to register, protect
                and enforce its marks.

            

    

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

     

    
      	 	
              4.4

            	
              Additional
                Trademarks.
                Absent the written consent of O2Diesel, Distributor shall not use
                any
                trademark other than the O2Diesel Trademarks to identify O2Diesel
                Product.
                If Distributor believes that a trademark other than the O2Diesel
                Trademarks should be used to identify O2Diesel Product in the Territory,
                Distributor may propose alternatives, and the Parties may so agree
                in
                writing. Any such agreement may also address any questions concerning
                the
                Parties’ respective rights to use the mark, both during the Term and after
                expiration or termination of this Agreement, and which Party shall
                handle
                and pay for registration of the mark, but absent a written agreement
                to
                the contrary, any such other mark shall be owned by O2Diesel and
                treated
                as an O2Diesel Trademark for all purposes of this
                Agreement.

            

    

     

    
      	5.	
              Confidentiality.

            

    

     

    
      	 	
              5.1

            	
              Definitions.
                In connection with its activities under this Agreement, a Party (the
                “Receiving
                Party”)
                may receive or otherwise have access to “Confidential Information” of the
                other Party (the “Disclosing
                Party”).
                The term “Confidential
                Information”
                include any material or information relating to the Disclosing Party’s
                technology, research, development, product plans, trade secrets,
                finances
                or business operations that the Disclosing Party treats as confidential
                as
                well as this Agreement, but not any material or information that
                the
                Receiving Party can demonstrate (a) is or becomes publicly known
                through
                no fault of the Receiving Party; (b) is developed independently by
                the
                Receiving Party; (c) is known by the Receiving Party when disclosed
                by the
                Disclosing Party if the Receiving Party does not then have a duty
                to
                maintain its confidentiality; or (d) is rightfully obtained by the
                Receiving Party from a Third Party not obligated to preserve its
                confidentiality who did not receive the material or information directly
                or indirectly from the Disclosing
                Party.

            

    

     

    
      	 	
              5.2

            	
              Limitations
                on Use and Disclosure.
                A
                Receiving Party shall not use the Disclosing Party’s Confidential
                Information for any purpose other than performance of this Agreement
                and
                shall not disclose Confidential Information to any Person other than
                its
                employees and its independent contractors subject to a nondisclosure
                obligation comparable in scope to this Article, which employees and
                independent contractors have a need to know such Confidential Information
                for the performance of this Agreement. Upon the expiration or termination
                of this Agreement or such earlier time as particular Confidential
                Information may no longer be necessary for the performance of this
                Agreement, a Receiving Party shall, on request, return or destroy
                all
                embodiments of the Disclosing Party’s Confidential Information in its
                possession or control. The Parties shall notify their employees of
                the
                confidential nature of the Confidential Information, and the Receiving
                Party shall be liable to the Disclosing Party for any unauthorized
                use or
                disclosure made by any person receiving Confidential Information
                the
                Receiving Party.

            

    

     

    
      
         

      

      
        -6-

        
          

        

      

      
         

      

    

     

    
      	 	
              5.3

            	
              Exception.
                Notwithstanding
                Section 5.2, a Receiving Party may disclose Confidential Information
                to the extent required by a court or other governmental authority,
                provided that (a) the Receiving Party gives the Disclosing Party
                reasonable notice of the disclosure, (b) the Receiving Party uses
                reasonable efforts to resist disclosing the Confidential Information
                and
                minimize the amount of Confidential Information disclosed, and (c)
                the
                Receiving Party cooperates with the Disclosing Party on request to
                seek a
                protective order or otherwise limit the effects of the disclosure.
                

            

    

     

    
      	 	
              5.4

            	
              Acknowledgement.
                The Parties acknowledge that either Party’s breach of this Article 7 would
                cause the other Party irreparable injury for which it would not have
                an
                adequate remedy at law. In the event of a breach, the non-breaching
                Party
                shall be entitled to injunctive relief in addition to any other remedies
                it may have at law or in equity.

            

    

     

    
      	6.	
              Other
                Intellectual Property Matters.

            

    

     

    
      	 	
              6.1

            	
              In
                General.
                Subject to all of Distributor’s obligations under this Agreement, O2Diesel
                hereby acknowledges that Distributor may practice O2Diesel’s patents and
                trade secrets in the Territory during the Term to the extent necessary
                to
                blend O2Diesel Product using O2Diesel Additive purchased from O2Diesel
                under Article 4. As between the Parties, O2Diesel shall retain all
                right,
                title and interest in and to its patents, trade secrets and other
                intellectual property ( the “O2Diesel
                Intellectual Property”).
                All rights with respect to O2Diesel Intellectual Property not expressly
                granted to Distributor in this Agreement are reserved by O2Diesel,
                and
                O2Diesel grants no licenses by implication or estoppel. Distributor
                shall
                take no action inconsistent with such O2Diesel Intellectual Property
                rights. For the avoidance of doubt, and without limiting the generality
                of
                the foregoing, (a) Distributor is not authorized to manufacture,
                offer for
                sale or sell O2Diesel Additive as such; (b) Distributor shall not
                grant
                sublicenses under the O2Diesel Intellectual Property to any Third
                Party
                without the written consent of O2Diesel, which consent not to be
                unreasonably withheld; and (c) Distributor shall not challenge the
                validity or enforceability of the O2Diesel Intellectual Property.
                

            

    

     

    
      	 	
              6.2

            	
              Third
                Party Infringement.
                Distributor shall inform O2Diesel of any infringement by any Third
                Party
                of any of the O2Diesel Intellectual Property in the Territory of
                which it
                becomes aware. O2Diesel may, but shall not be required to, take legal
                action to enforce the O2Diesel Intellectual Property against infringement
                by Third Parties and defend the O2Diesel Intellectual Property against
                challenges by Third Parties. Distributor shall cooperate fully with
                O2Diesel in any such enforcement or defense and supply all assistance
                reasonably requested by O2Diesel in carrying on such action, at O2Diesel’s
                expense, including by using commercially reasonable efforts to have
                its
                employees testify when requested and to make available relevant records,
                information, specimens and the like.

            

    

     

    
      
         

      

      
        -7-

        
          

        

      

      
         

      

    

     

    
      	 	
              6.3

            	
              Joint
                Improvements.
                To the extent that employees of O2Diesel or its Affiliates together
                with
                employees of Distributor or its Affiliates jointly invent or discover
                any
                improvements to the O2Diesel Additive, O2Diesel Product or to any
                other
                invention, discovery, know-how or technology, the Parties shall jointly
                own the same, and each Party shall be free to exploit or authorize
                the
                exploitation of the same without the consent of or accounting to
                the other
                Party, subject to any other relevant intellectual property rights
                of the
                other Party. If a Party becomes aware of any such joint invention,
                discovery, know-how or technology, it shall verify that the other
                Party is
                aware of the same and the parties shall consult and cooperate with
                respect
                to the protection of the same.

            

    

     

    
      	 	
              6.4

            	
              Distributor
                Improvements.
                Before commencing any research or testing efforts with respect to
                the
                oxygenation of diesel fuel, the Party commencing such research/testing
                (“Research
                Party”)
                shall disclose the same to the other Party. Subject to Section 6.3,
                to the extent that the Research Party may during the Term invent
                or
                discover or otherwise acquire rights to any improvements to the O2Diesel
                Additive, O2Diesel Product or any related know-how or technology
                for the
                oxygenation of diesel fuel, such Party shall promptly disclose the
                same to
                the other Party, and the grants of a worldwide, perpetual, royalty-free,
                paid-up, nonexclusive license to practice and authorize the practice
                of
                such improvements and other know-how and technology shall be agreed
                to by
                the Parties.

            

    

     

    
      	 	
              6.5

            	
              Patent
                Marking.
                Distributor shall, if applicable, comply with any laws and regulations
                in
                the Territory concerning the marking or other identification of O2Diesel
                Product as being patented.

            

    

     

    
      	7.	
              Representations
                and Warranties.

            

    

     

    
      	 	
              7.1

            	
              Representations
                and Warranties of Both Parties.
                Each Party represents and warrants
                that:

            

    

     

    
      	 	
              7.1.1

            	
              it
                is a company duly organized, validly existing and in good standing
                under
                the laws of, in the case of O2Diesel, the state of Delaware, and
                in the
                case of Distributor, Italy;

            

    

     

    
      	 	
              7.1.2

            	
              the
                execution of this Agreement on its behalf has been properly authorized
                by
                all necessary corporate action;

            

    

     

    
      	 	
              7.1.3

            	
              this
                Agreement is valid and binding on it and enforceable against it in
                accordance with the terms hereof, subject to applicable bankruptcy
                and
                similar laws affecting creditors’ rights and remedies generally, and
                subject, as to enforceability, to general principles of equity;
                

            

    

     

    
      	 	
              7.1.4

            	
              neither
                the execution nor the performance of this Agreement will constitute
                a
                breach or violation of the terms of its charter or organizational
                documents or any contract, agreement or other commitment to which
                it is a
                party or by which it or any of its properties are
                bound;

            

    

     

    
      
         

      

      
        -8-

        
          

        

      

      
         

      

    

     

    
      	 	
              7.1.5

            	
              there
                are no bankruptcy,
                insolvency, receivership or similar proceedings involving it or any
                of its
                Affiliates either pending or being contemplated, or any other pending
                or
                threatened actions, suits, arbitrations or other proceedings by or
                against
                it;

            

    

     

    
      	 	
              7.1.6

            	
              its
                business is being conducted in compliance in all material respects
                with
                all applicable laws and regulations;
                and

            

    

     

    
      	 	
              7.1.7

            	
              it
                is not in default with respect to any governmental or court order
                and
                there are no pending lawsuits or unsatisfied judgments against
                it.

            

    

     

    
      	 	
              7.2

            	
              Representations
                and Warranties of Distributor.
                Distributor represents and warrants that: (a) Distributor is experienced
                in fuel distribution; (b) Distributor has had a reasonable opportunity
                to,
                and has in fact, investigated independently its business prospects
                under
                this Agreement before entering into this Agreement; (c) Distributor
                is not
                relying upon any information, representation or warranty provided
                by
                O2Diesel except as expressly set forth in this Agreement; and (d)
                Distributor is not relying upon O2Diesel’s providing significant
                assistance with or control over Distributor’s method of operation under
                this Agreement.

            

    

     

    
      	 	
              7.3

            	
              Representations
                and Warranties of O2Diesel.

            

    

     

    
      	 	
              7.3.1

            	
              O2Diesel
                warrants that the O2Diesel Additive delivered to Distributor hereunder
                complies with O2Diesel’s specifications for such product, provided that
                Distributor notifies O2Diesel of any defects therein within thirty
                (30)
                days after taking delivery thereof. Distributor’s exclusive remedy for a
                breach of this Section 7.3 shall be, at O2Diesel’s option, a refund
                of any amounts already paid for the nonconforming O2Diesel Additive
                or
                prompt redelivery of the same quantity of conforming O2Diesel
                Additive.

            

    

     

    
      	 	
              7.3.2

            	
              To
                the best of its knowledge, O2Diesel has disclosed in its public filings,
                all technical and logistical issues relating to the O2Diesel Additive.
                

            

    

     

    
      	 	
              7.4

            	
              EXCEPT
                AS PROVIDED EXPLICITLY HEREIN, NO PARTY MAKES ANY REPRESENTATIONS
                OR
                WARRANTIES OF ANY KIND AND SPECIFICALLY DISCLAIMS ALL OTHER WARRANTIES
                OF
                ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO
                WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
                O2DIESEL HEREBY DISCLAIMS ANY REPRESENTATION OR WARRANTY, EXPRESS
                OR
                IMPLIED, AS TO THE VALIDITY OR ENFORCEABILITY OF THE O2DIESEL INTELLECTUAL
                PROPERTY AND AS TO WHETHER DISTRIBUTOR WILL BE FREE FROM ANY INFRINGEMENT
                OF THE PATENT OR OTHER INTELLECTUAL PROPERTY RIGHTS OF ANY THIRD
                PARTY.

            

    

     

    
      
         

      

      
        -9-

        
          

        

      

      
         

      

    

     

    
      	8.	
              Indemnification.
                

            

    

     

    
      	 	
              8.1

            	
              In
                General.
                Each Party (the “Indemnifying
                Party”)
                shall defend, indemnify and hold harmless the other Party (the
                “Indemnified
                Party”),
                its Affiliates, and its and their employees, officers, directors,
                agents,
                distributors and licensees against any loss, damage, expense, or
                cost,
                including reasonable attorneys fees, arising out of any claim, demand,
                action, suit, investigation, arbitration or other proceeding by a
                Third
                Party (an “Action”)
                based on (a) the Indemnifying Party’s breach of this Agreement; (b)
                negligence, willful misconduct or violation of any law or regulation
                by
                the Indemnifying Party, its Affiliates, or its or their employees,
                officers, directors, or agents;
                or (c) the Indemnifying Party’s manufacture, use, sale, handling, storage,
                transportation or disposal of O2Diesel Additive, O2Diesel Product
                or other
                products.

            

    

     

    
      	 	
              8.2

            	
              Procedure. If
                an Indemnified Party becomes aware of any Action it believes is
                indemnifiable under Section 8.1, (a) the Indemnified Party shall give
                the Indemnifying Party prompt written notice of such Action; (b) the
                Indemnifying Party shall assume, at its expense, the sole defense
                of such
                claim or cause of action through counsel selected by it and reasonably
                acceptable to the Indemnified Party, except that in the case of a
                conflict
                of interest between the Parties, the Indemnifying Party shall, at
                the
                Indemnifying Party’s expense, provide separate counsel for the Indemnified
                Party selected by the Indemnified Party; (c) the Indemnifying Party
                shall
                maintain control of such defense, including any decision as to settlement,
                except that any settlement of an Action shall require the written
                consent
                of both Parties, which consent shall not to be withheld or delayed
                unreasonably; (d) the Indemnified Party may, at its option and
                expense, participate in such defense, and in any event, the Parties
                shall
                cooperate with one another in such defense; and (e) the Indemnifying
                Party
                shall bear the total costs of any court award or settlement in such
                Action.

            

    

     

    
      	9.	
              Insurance.
                

            

    

     

    Distributor
      shall during the Term maintain comprehensive general liability insurance
      covering at least claims arising out of the manufacture, use, sale, handling,
      storage, transportation and disposal of O2Diesel Product by Distributor and
      liability assumed under Article 10 with a coverage limit of not less than
      $_______ per occurrence. Such insurance must provide primary coverage without
      right of contribution from any O2Diesel insurance. O2Diesel shall be named
      as an
      additional insured under such insurance. Such insurance shall not be terminated
      or cancelled unless O2Diesel is given thirty (30) days prior written notice.
      Upon the execution of this Agreement, and thereafter upon the reasonable request
      of O2Diesel, Distributor shall provide certificates evidencing such insurance
      issued by Distributor’s insurance carrier.

     

    
      	10.	
              Limitation
                of Liability.
                

            

    

     

    
      	 	
              10.1

            	
              Neither
                party shall be liable to the other party for any indirect, incidental,
                special, consequential or punitive damages arising out of or related
                to
                this Agreement, even if the party has been advised of the possibility
                thereof. O2Diesel’s liability to Distributor for other damages, if any,
                shall in no event exceed the total amount distributor has paid to
                O2Diesel
                for any product or service giving rise to a claim of liability.
                

            

    

     

    
      
         

      

      
        -10-

        
          

        

      

      
         

      

    

     

    
      	 	
              10.2

            	
              The
                Parties have agreed that Distributor shall not in any circumstance
                whatsoever be liable for the O2Diesel Additive and the O2Diesel Product
                to
                O2Diesel or to any third party for any deficiency in the product
                so long
                as it uses the product per the instructions provided by
                O2Diesel.

            

    

     

    
      	11.	
              Term
                and Termination.
                

            

    

     

    
      	 	
              11.1

            	
              Term.
                This Agreement shall commence as of the Effective Date and, unless
                terminated as provided in Section 11.2, continue in full force and
                effect for an initial term of three (3) years (the “Term”).
                

            

    

     

    
      	 	
              11.2

            	
              Termination
                for Default.
                If either Party materially breaches this Agreement and fails to cure
                the
                breach within thirty (30) days after receiving written notice thereof
                from
                the other Party, the other Party may terminate this Agreement upon
                further
                written notice to the breaching Party at any time that the breach
                remains
                uncured. Either Party may terminate this Agreement if it has reasonable
                grounds for insecurity concerning the other Party’s future performance and
                does not receive reasonably adequate assurance of performance within
                ten
                (10) days after giving written notice demanding the
                same.

            

    

     

    
      	 	
              11.3

            	
              Rights
                and Obligations of Parties upon Expiration and
                Termination.

            

    

     

    
      	 	
              11.3.1

            	
              Termination
                of this Agreement by either Party for any reason shall not affect
                and
                shall be without prejudice to the rights and obligations of the Parties
                accrued prior to the effective date of termination.
                

            

    

     

    
      	 	
              11.3.2

            	
              To
                the extent that Distributor has outstanding orders for O2Diesel Additive
                at the expiration or termination of this Agreement, such orders shall
                be
                deemed cancelled unless O2Diesel notifies Distributor within thirty
                (30)
                days after expiration or termination that it will deliver the ordered
                quantity of O2Diesel Additive. If O2Diesel so honors such orders,
                Distributor shall take and pay for the O2Diesel Additive in accordance
                with the provisions of this
                Agreement.

            

    

     

    
      	 	
              11.3.3

            	
              Within
                thirty (30) days after the expiration or termination of this Agreement,
                Distributor shall notify O2Diesel of the quantity of O2Diesel Additive
                that Distributor then has on hand (“Remaining
                Quantity”).
                Distributor shall have the right to use such O2Diesel Additive to
                make and
                sell O2Diesel Product subject to the applicable terms of this Agreement,
                but in no event shall such right continue for longer than six (6)
                months
                after the date of expiration or termination. If Distributor does
                not use
                the Remaining Quantity, O2Diesel shall have the option to purchase
                from
                Distributor the Remaining Quantity at the same price Distributor
                paid for
                such O2Diesel Additive. After the expiration or termination of the
                Agreement and any further period of distribution permitted under
                this
                Section 11.3.3, Distributor shall take no action that would infringe
                O2Diesel Intellectual Property or use O2Diesel Confidential Information.
                

            

    

     

    
      
         

      

      
        -11-

        
          

        

      

      
         

      

    

     

    
      	 	
              11.3.4

            	
              After
                the expiration or termination of this Agreement and any further period
                of
                distribution permitted under Section 11.3.3, Distributor shall,
                within thirty (30) days after O2Diesel’s request, return to O2Diesel or
                destroy any materials provided by O2Diesel and any excess marketing
                materials for O2Diesel Product.

            

    

     

    
      	 	
              11.3.5

            	
              The
                provisions of Sections 2.5, 3 (for so long as any amounts payable
                remain
                unpaid) and 11.3 and Articles 4 through 8, 10, and 12 through 14
                of this
                Agreement shall survive the expiration or termination of this
                Agreement.

            

    

     

    
      	12.	
              Dispute
                Resolution.
                

            

    

     

    12.1 Discussions.
      The
      Parties shall use reasonable efforts to amicably resolve any disputes arising
      out of or relating to this Agreement by direct discussions between them.

     

    12.2 Arbitration
      of Disputes.
      Any
      dispute not resolved as set forth in Section 12.1 within fifteen (15) days
      after
      one Party notifies the other Party that it wishes to discuss the matter
      (“Dispute”), except matters relating to O2Diesel’s patents, trademarks or other
      intellectual property, shall be resolved by arbitration in Newark, Delaware
      under the Commercial Arbitration Rules (“Commercial Rules”) of the American
      Arbitration Association (“AAA”), including the AAA Supplementary Procedures for
      Large Complex Commercial Disputes (“Complex Procedures”), as such rules shall be
      in effect on the date of delivery of a demand for arbitration (“Demand”), except
      to the extent that such rules are inconsistent with the provisions set forth
      herein. Notwithstanding the foregoing, the Parties may agree that the Complex
      Procedures shall not apply in order to promote the efficient arbitration of
      Disputes where the nature of the Dispute, including the amount in controversy,
      does not justify the application of such procedures.

     

    12.3 Arbitration
      Procedures.
      The
      arbitration shall be conducted before one (1) impartial arbitrator selected
      by
      mutual agreement of the Parties. If
      the
      Parties are unable to mutually agree on an impartial arbitrator within ten
      (10)
      days, a neutral arbitrator shall be appointed by the AAA from the panel of
      commercial arbitrators of any of the AAA Large and Complex Resolution Programs.
      The arbitrator’s award shall be a final and binding determination of the
      dispute. If awarded by the arbitrator, the prevailing Party shall be entitled
      to
      recover its reasonably attorneys’ fees and expenses, including arbitration
      administration fees incurred in connection with such proceeding. 

     

    12.4 Judicial
      Action.
      Notwithstanding the above, either Party may seek from any court having
      jurisdiction hereof any interim, provisional or injunctive relief or specific
      performance that may be necessary to protect the rights or property of any
      Party
      or to maintain the status quo before, during or after the pendency of the
      arbitration proceeding. The institution and maintenance of any judicial action
      or proceeding for any such interim, provisional or injunctive relief shall
      not
      constitute a waiver of the right or obligation of either Party to submit the
      dispute to arbitration, including any claims or disputes arising from the
      exercise of any such interim, provisional or injunctive relief.

     

    
      	13.	
              Notices.

            

    

     

    
      	 	
              13.1

            	
              Delivery
                of Notices.
                All notices sent under this Agreement shall be in writing and (a)
                hand
                delivered; (b) transmitted by legible facsimile with a copy sent
                concurrently by certified mail, return receipt requested; or (c)
                delivered
                by prepaid priority delivery
                service.

            

    

     

    
      
         

      

      
        -12-

        
          

        

      

      
         

      

    

     

    
      	 	
              13.2

            	
              Addresses
                for Notices.
                Notices shall be sent to the Parties at the following addresses or
                such
                other addresses as the parties subsequently may
                provide:

            

    

     

    
      	
              If
                to O2Diesel:

            	
              100
                Commerce Drive

              Suite
                301

              Newark,
                Delaware 19713

            
	 	 
	
              Attention: 

            	
              Alan
                Rae

            
	
              Telephone:

            	
              (302)
                266-6000

            
	
              Fax:       

            	
              (302)
                266-7076

            
	 	 
	 	 
	
              If
                to Distributor:

            	 
	 	 
	
              Attention: 

            	 
	
              Telephone:

            	 
	
              Fax:       

            	 

    

     

    
      	14.	
              Miscellaneous.
                

            

    

     

    
      	 	
              14.1

            	
              Relationship
                Between Parties.
                O2Diesel and Distributor are separate business entities, and shall
                not be
                considered as joint ventures, partners, agents, servants, employee,
                or
                fiduciaries of each other. Neither this Agreement nor the relationship
                between the Parties shall be considered in any way to deem Distributor
                a
                franchisee of O2Diesel for any purpose whatsoever. The Parties
                specifically agree that any obligation to act in good faith and to
                deal
                fairly with each other which may be implied in law shall be deemed
                satisfied by the Parties’ compliance with the express terms of this
                Agreement.

            

    

     

    
      	 	
              14.2

            	
              Technical
                Services Agreement.
                Within thirty (30) days of the Effective Date, the Parties shall
                enter
                into a Technical Services Agreement that will establish the terms
                for the
                reimbursement of any technical services provided by O2Diesel in the
                Territory.

            

    

     

    
      	 	
              14.3

            	
              Compliance
                with Laws.
                In obtaining necessary government approvals and in other aspects
                of
                Distributor’s business relating to O2Diesel Product, Distributor shall:
                (a) in compliance with the U.S. Foreign Corrupt Practices Act, Title
                15
                United States Code Sec. 78dd, not directly or indirectly pay, give,
                offer
                or promise any money, gift or anything else of value to (i) any officer
                or
                employee of any government or any department, agency, or instrumentality
                thereof, (ii) any person acting in an official capacity for or on
                behalf
                of any foreign government or any department, agency, or instrumentality
                thereof, (iii) any political party, or (iv) any candidate for political
                office (collectively “Governmental
                Official”),
                or to any family member of any Governmental Official, to influence
                any act
                or decision of such Governmental Official, induce such Governmental
                Official to do or omit to do any act in violation of the lawful duty
                of
                such Governmental Official, or secure any advantage in obtaining,
                retaining or directing business for or with any Person; (b) not export
                or
                reexport any information, products or other items in violation of
                U.S.
                export control laws and regulations; and (c) comply with the conditions
                of
                any applicable governmental approvals and all other applicable laws
                and
                regulations. 

            

    

     

    
      
         

      

      
        -13-

        
          

        

      

      
         

      

    

     

    
      	 	
              14.4

            	
              Governing
                Law; Jurisdiction.
                This Agreement shall be governed by and construed in accordance with
                the
                law of the State of Delaware, without regard to its conflict of laws
                principles. 

            

    

     

    
      	 	
              14.5

            	
              Recordkeeping
                and Inspection.
                During the Term and for three (3) years thereafter, or such longer
                period
                as may be required by law, Distributor shall keep and maintain reasonable
                records of all agreements, approvals and other activities relating
                to this
                Agreement. O2Diesel may, at its expense, during regular business
                hours and
                with reasonable prior notice, examine, review, and inspect all facilities
                in which O2Diesel Additive or O2Diesel Product is stored, blended
                or
                distributed by or on behalf of Distributor, and review, audit and
                analyze
                Distributor’s records relating to this Agreement and representative
                samples of O2Diesel Additive and O2Diesel Product in Distributor’s custody
                or control. 

            

    

     

    
      	 	
              14.6

            	
              Force
                Majeure.
                Neither Party shall be liable for the consequences of any failure
                to
                perform, or default in performing, any of its obligations under this
                Agreement, if that failure or default is caused without the fault
                or
                negligence of the Party by any act of “Force Majeure.” For the purposes of
                this Agreement, “Force
                Majeure”
                shall mean war (whether declared or not); act of God; revolution;
                acts or
                omissions of third parties beyond the control of either Party; faulty
                or
                impassable roads; invasion; insurrection; riot; civil commotion;
                sabotage;
                military or usurped power; lightning; explosion; fire; storm; drought;
                flood; earthquake; epidemic; quarantine; strikes; acts or restraints
                of
                governmental authorities; inability to secure materials, machinery,
                equipment or labor; and laws and regulations of any governmental
                authority.

            

    

     

    
      	 	
              14.7

            	
              Severability.
                The provisions of this Agreement are severable, and the unenforceability
                of any provision of this Agreement shall not affect the enforceability
                of
                the remainder of this Agreement. The Parties acknowledge that it
                is their
                intention that if any provision of this Agreement is determined by
                a court
                to be unenforceable as drafted, that provision should be construed
                in a
                manner designed to effectuate the purpose of that provision to the
                greatest extent possible under applicable
                law.

            

    

     

    
      	 	
              14.8

            	
              Construction
                of Agreement.
                The Parties acknowledge that they thoroughly have reviewed this Agreement
                and bargained over its terms. Accordingly, this Agreement shall be
                construed without regard to the Party or Parties responsible for
                its
                preparation and shall be deemed to have been prepared jointly by
                the
                Parties.

            

    

     

    
      	 	
              14.9

            	
              Cumulative
                Rights and Remedies.
                The rights and remedies provided in this Agreement and all other
                rights
                and remedies available to either Party at law or in equity are, to
                the
                extent permitted by law, cumulative and not exclusive of any other
                right
                or remedy now or hereafter available at law or in equity. Neither
                asserting a right nor employing a remedy shall preclude the concurrent
                assertion of any other right or employment of any other remedy, nor
                shall
                the failure to assert any right or remedy constitute a waiver of
                that
                right or remedy.

            

    

     

    
      
         

      

      
        -14-

        
          

        

      

      
         

      

    

     

    
      	 	
              14.10

            	
              Assignment.
                Distributor
                shall not transfer or assign any of its rights under this Agreement
                to any
                Third Party without the prior written consent of O2Diesel. O2Diesel
                may
                transfer or assign this Agreement for financing purposes or to any
                Affiliate or successor entity. Subject to the foregoing, this Agreement
                shall be binding upon and inure to the benefit of the Parties and
                their
                respective successors, permitted assigns and legal representatives.
                

            

    

     

    
      	 	
              14.11

            	
              Amendments.
                This Agreement may be modified or amended only by written agreement
                of the
                Parties.

            

    

     

    
      	 	
              14.12

            	
              Entire
                Agreement.
                This Agreement constitutes the entire agreement between the Parties
                concerning the subject matter of this Agreement and supersedes all
                prior
                agreements between the Parties concerning the subject matter
                hereof.

            

    

     

    
      	 	
              14.13

            	
              Counterparts.
                This Agreement may be executed in any number of counterparts, each
                of
                which when so executed shall be deemed to be an original and all
                of which
                when taken together shall constitute this
                Agreement.

            

    

     

    
      
         

      

      
        -15-

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the Parties have caused this Agreement to be executed by their
      respective duly authorized officers as of the Effective Date.

     

    
      	 	 	O2DIESEL
              CORPORATION 
	 	 	 	 
	 	 	By: 	/s/
              Alan R. Rae 
	 	 	Name: 	Alan R. Rae 
	 	 	Title: 	Chief Executive Officer 
	 	 	 	 
	 	 	 	 
	 	 	DISTRIBUTOR 
	 	 	 	 
	 	 	By: 	/s/
              Pierre Alain Puippe 
	 	 	Name: 	Pierre Alain Puippe 
	 	 	Title: 	Manager of Biofuels &
              Sugar 

    

     

    
      
         

      

      
        -16-

        
          

        

      

      
         

      

    

    SCHEDULE
      A

    

     

    SALES
      TARGETS

     

    
      	 	
              1st
                Contract Period March 31, 2007 to December 31, 2008: *
                liters 

            	 
	 	
              2nd
                Contract Period January 1, 2009 to December 31, 2009: *
                liters 

            	 
	 	
              3rd
                Contract Period January 1, 2010 to December 31, 2010: *
                liters 

            	 

    

    

    PRICING

    

    IBC’s

    

    $
      * per
      MT 

    

    *
      %
      retrospective discount on achieving * MT equivalent to @ * per MT 

    An
      additional *% retrospective discount on achieving * MT equivalent to $ *
      MT

    An
      additional *% retrospective discount on achieving * MT equivalent to $ * per
      MT

    

    

    ISO’s

    

    $*
      per
      MT

    

    *%
      retrospective discount on achieving * MT equivalent to $ * per MT 

    An
      additional *% retrospective discount on achieving * MT equivalent to $ * per
      MT

    An
      additional *% retrospective discount on achieving * MT equivalent to $ * per
      MT

    

    The
      above
      prices are FOB Port of Origin and shall apply until June 30, 2007. From August
      1, 2007, the price for the O2Diesel Additive shall be adjusted by the mutual
      agreement between the parties based on evidence of the feedstock prices and
      changes to these prices from the prior year.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]