Document:

Exhibit 10.2

 

SUPPLEMENTAL AGREEMENT TO

MACHINES OPERATION

AND PARTICIPATION CONSOLIDATION AGREEMENT

 

This
SUPPLEMENTAL AGREEMENT is entered into on 25th May 2010
and executed by and between:

 

ELIXIR GAMING
TECHNOLOGIES (CAMBODIA) LIMITED, a company incorporated in
Cambodia, with principal business address at No. 7E, Mao Tse Tong Blvd,
Sangkat Beoung Keng Kang 1, Khan Chamcarmon, Phnom Penh, Cambodia and
correspondence address at Unit 3705, 37/F, The Centrium, 60 Wyndham Street,
Central, Hong Kong (“ELIXIR”);

 

- and -

 

ELIXIR GAMING TECHNOLOGIES, INC., a company incorporated in
Nevada, with office address at c/o CT Corporation System,   6100 Neil Road, Suite 500, Reno,
Nevada 89511, United States of America (the
“Guarantor”);

 

- and -

 

NAGAWORLD LIMITED, a company
incorporated in Hong Kong, with correspondence address at Nagaworld, Hun Sen
garden, Phnom Penh Cambodia (the “VENUE OWNER”).

 

W I T N E S S E T H

 

WHEREAS
:

 

(A)      ELIXIR,
the Guarantor and the VENUE OWNER entered into the Machines Operation and Participation
Consolidation Agreement dated 30th December 2009 (the “Consolidation
Agreement”), pursuant to which, amongst
other matters, the VENUE OWNER agreed to grant the permission to ELIXIR to
operate and manage a total maximum of 640
seats of Machines at the EGT Areas
within NagaWorld subject to the terms and conditions of the Consolidation
Agreement.

 

1

 

(B)       The parties agree to enter into this Supplemental
Agreement for the purposes of , inter alia, expanding the EGT Areas by adding
two new areas to it; and allowing ELIXIR to place and operate an additional 30
seats of Machines (thereby increasing total maximum number of seats of Machines
which ELIXIR is permitted to operate and manage from 640 seats to 670 seats) at
the EGT Areas (as expanded by this Supplemental Agreement), upon the terms and
conditions of this Supplemental Agreement.

 

NOW,
THEREFORE, the parties agree as follows:

 

1.             DEFINITIONS

 

In this Supplemental
Agreement, unless the context otherwise requires, definitions used in the
Consolidation Agreement shall have the same meanings when used herein.

 

2.             EXPANSION OF EGT AREAS AND
INCREASE OF TOTAL MAXIMUM NUMBER OF ELIXIR’S MACHINES

 

2.1           Subject to Clause 3.1 below,
the VENUE OWNER and ELIXIR hereby agree that two new additional areas
(collectively “Area 4”), the locations of which
are more particularly identified in RED colour on
the floor plan attached in Schedule A
hereto, be added to and shall, with effect from the date of payment of the New Commitment Fee (as defined below), form part of the EGT
Areas.

 

2.2           For the sake of consistency and easy reference, the
parties agree that :

 

(a)   the terms “Original Area”
and “Additional Lobby Floor Area” as defined
in the Consolidation Agreement shall be re-designated and named as “Area 1”;

 

(b)   the term “Chinese Restaurant Area”
as defined in the Consolidation Agreement shall be re-designated and named as “Area 2”;

 

(c)   the term “Lounge Area” as
defined in the Consolidation Agreement shall be re-designated and named as “Area 3”; and

 

(d)   all the aforesaid areas, together with Area 4 (subject to Clauses 2.1 above and 3.1
below) are the “EGT Areas”. The
floor plan in Schedule A of the 

 

2

 

Consolidation Agreement shall be replaced by the new
floor plan attached to Schedule A of this
Supplemental Agreement.

 

2.3           In addition to the 640 seats of Machines which ELIXIR
is permitted to place, operate and manage at Area 1, Area 2 and Area 3 pursuant
to the terms of the Consolidation Agreement, the VENUE OWNER hereby agrees,
subject to the payment of the New Commitment Fee by ELIXIR in accordance with Clause 3.1 below, to grant permission to ELIXIR to place,
operate and manage an additional 30 seats of Machines at the EGT Areas (thereby
increasing the total maximum number of seats of Machines which ELIXIR is
permitted to operate and manage from 640 seats to 670 seats).
In this respect, the parties agree that, subject to payment of the New
Commitment Fee by ELIXIR, all references to “640 seats” of Machines in the
Consolidation Agreement shall be replaced by “670 seats”
of Machines.

 

3.             NEW COMMITMENT FEE

 

3.1           In consideration of the addition of Area 4 to the EGT
Areas, the granting of the permission by the VENUE OWNER for ELIXIR to place,
operate and manage an additional 30 seats of Machines at the EGT Areas and the
other undertakings and obligations of the VENUE OWNER hereunder, ELIXIR shall
pay a lump sum amount of US$1,000,000 (United
States Dollars One Million Only) to the VENUE OWNER by way of US
dollars cheque as commitment fee (the “New Commitment Fee”)
on or before 15th June 2010.

 

3.2           The VENUE OWNER and ELIXIR agree that, subject to the
payment of the New Commitment Fee by ELIXIR, :

 

Clauses
3.2 (c) and (d) of the Consolidation Agreement shall be deleted in their entirety and
replaced by the following provisions :

 

“3.2(c)    on and at any time prior to
the Areas 3 & 4  Gross Win  Receipt Date  (as defined below) ELIXIR shall be entitled to 100% of the Daily Gross Win for the slot
operation at Area 3 and Area 4 and the same
shall be collected by ELIXIR on a daily basis
in accordance with the Collection Procedure unless and until ELIXIR have
received a total accumulated Gross Win of US$6,800,000
(representing the sum of US$5,470,000 and US$1,330,000) from the slot operation
at Area 3 and/or Area 4 (the “Areas 3 & 4 Gross Win Receipt Date);

 

3

 

3.2(d)      from the day immediately after the Areas 3 & 4  Gross Win
Receipt Date, the Daily Gross Win generated at Area 3
and Area 4 shall actually be distributed to and collected by the ELIXIR and the
VENUE OWNER according to the revenue sharing ratio set forth in Clauses 3.1(c) and the relevant portion, namely
25% of the Daily Gross Win generated at Area 3 and Area 4 shall
be distributed to ELIXIR on a daily basis
in accordance with the Collection Procedure; and”.

 

3.3           The VENUE OWNER and ELIXIR further agree that Clause 9.4 (d) of the Consolidation Agreement shall be
deleted in their entirety and replaced by the following provisions :

 

“9.4(d)     if ELIXIR has not received a total accumulated Daily Gross Win of (i) US$6,800,000  from the
slot operation at Area 3 and/or Area 4, in full prior to such expiration, cessation
or termination of this Agreement, then the VENUE OWNER shall pay :

 

a.     the difference (in positive amount) between US$4,100,000 and 75% of the
Daily Gross Win actually collected and received by ELIXIR from the slot
operation at Area 3, and

 

b.     the difference (in positive amount) between US$1,000,000 and 75% of the
Daily Gross Win actually collected and received by ELIXIR from the slot
operation at Area 4,

 

without any set off
or counterclaim, to ELIXIR within 7 days from the date of such expiration,
cessation or termination. For the avoidance of doubt, nothing in this provision
shall be construed as making of any compensation in whatever form or nature by
the VENUE OWNER to ELIXIR upon termination, cessation or expiration of this
Agreement;”

 

4.             OTHER OBLIGATIONS OF THE VENUE
OWNER

 

In addition to and
without prejudice to the obligations and undertakings of the VENUE OWNER under
the Consolidation Agreement, the VENUE OWNER agrees that it will, at its costs
:

 

4

 

(a)   complete the renovation of Area 4
and make it become ready for installation and operation of Machines (and
related equipment and systems for use of the Machines) by ELIXIR on or before 30th June 2010;

 

(b)   as soon as reasonably practicable but in any case not
later than 31st July 2010, build two cages at the locations as specified on the
layout plan attached in Schedule B
hereto and to build railing between the said two cages for the purpose of
separating the relevant EGT Areas from the other third party slot operators’
areas; and

 

(c)   as soon as reasonably practicable but in any case not
later than 31st July 2010, re-construct the entrance door for the third party
slot operator’s server room at such direction as shown on the layout plan in Schedule B.

 

5.             ACKNOWLEDGEMENT BY THE PARTIES

 

5.1           Without prejudice to the validity of other terms and
conditions of the Consolidation Agreement (save for those as amended and
modified by this Supplemental Agreement), the VENUE OWNER and ELIXIR hereby
acknowledge and confirm that :

 

(a)         ELIXIR and the VENUE OWNER shall be
entitled to share the Gross Win generated by all Machines at the EGT Areas
according to the following ratio (subject to Clause 3.2
of the Consolidation Agreement  (as modified and amended
by this Supplemental Agreement)),with effect from the Effective Date
(namely, 30th December 2009)
:

 

(i)             ELIXIR shall be entitled to Twenty-Five percent (25%) of the
Gross Win; and

 

(ii)            the VENUE OWNER shall be entitled to Seventy-Five percent (75%) of the
Gross Win.

 

(b)   subject to any earlier
termination in accordance with Clause 9 of the
Consolidation Agreement, the term for operation and management of
Machines by ELIXIR at the EGT Areas shall expire at the end of a Six (6) years
period beginning from 1st March 2010.

 

5

 

5.2           Save as amended and modified by this Supplemental
Agreement, all terms and conditions of the Consolidation Agreement shall remain
in full force and effect. This Supplemental Agreement shall form part of the
Consolidation Agreement and the Consolidation Agreement shall be read and
construed in conjunction with this Supplemental Agreement.

 

6.             GOVERNING
LAW

 

This Supplemental Agreement and the rights and
obligations of the parties hereunder shall be construed and interpreted in
accordance with and shall be governed by the laws of Hong Kong and the parties
hereby submit to the exclusive
jurisdiction of the courts of Hong Kong.

 

IN WITNESS WHEREOF, the parties hereof caused
this Supplemental Agreement to be executed on the date first above written.

 

6

 

	
  SIGNED by

  	
   

  	
  )

  	
  /s/
  Clarence Chung

  
	
   

  	
   

  	
  )

  	
  Chief
  Executive Officer

  
	
  for and on behalf of ELIXIR

  	
   

  	
  )

  	
   

  
	
  GAMING
  TECHNOLOGIES

  	
   

  	
  )

  	
   

  
	
  (CAMBODIA)
  LIMITED

  	
   

  	
  )

  	
   

  
	
   

  	
   

  	
  )

  	
   

  
	
   

  	
   

  	
   

  	
  Authorised
  Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  EXECUTED as a DEED by ELIXIR

  	
   

  	
  )

  	
  /s/
  Clarence Chung

  
	
  GAMING TECHNOLOGIES, INC.

  	
   

  	
  )

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
  )

  	
   

  
	
  in the presence of :-

  	
   

  	
  )

  	
  Authorised
  Signatory 

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SIGNED by

  	
   

  	
  )

  	
  /s/
  Philip Lee

  
	
   

  	
   

  	
  )

  	
  Senior
  Vice President Finance & Treasury

  
	
  for and on behalf of

  	
   

  	
  )

  	
   

  
	
  NAGAWORLD
  LIMITED

  	
   

  	
  )

  	
   

  
	
  in the presence of :-

  	
   

  	
  )

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Authorised Signatory

  

 

7

 

Schedule A

location of

the EGT Areas

 

In the attached floor plan of the lobby floor of NagaWorld,

 

(I)    the
EGT Areas include :

 

(a)   Area
1 (formerly known as the Original Area and the Additional Lobby Floor Area),
which is more particularly identified in pink colour;

 

(b)   Area
2 (formerly known as the Chinese Restaurant Area), which is more particularly
identified in blue colour;

 

(c)   Area 3 (formerly known as the Lounge Area
which comprises the lobby lounge area and
the area outside the Darling Darling lounge), which is more particularly
identified in yellow colour; and

 

(d)   Area
4 (comprising the two newly added areas pursuant to this Supplemental
Agreement), which is more particularly identified in red colour; and

 

(II)   the Adjacent Area (as
defined in Clause 5.3(a) of the Consolidation
Agreement) is more particularly
identified in green colour.

 

 

8

 

Schedule B

Layout Plan

 

 

9Exhibit 10.1

 

CONFIDENTIAL RELEASE AND SEPARATION AGREEMENT

 

This RELEASE AND SEPARATION AGREEMENT
(“Agreement”) is made and entered into by Scott A. McCurdy (“Employee”) and
Geokinetics Inc., its past, present and future subsidiaries, parents, and
affiliates and its past, present, and future employees, officers, directors,
shareholders, agents, insurers and legal counsel (hereinafter collectively
referred to as the “Company”) on this 24th day of May, 2010 (the “Effective
Date”).

 

1.                                         RESIGNATION FROM EMPLOYMENT. Upon execution of this
Agreement, the Employee agrees to resign from employment with the Company
effective July 15, 2010 (the “Resignation Date”).   In the period of time between the Effective
Date and the Resignation Date (the “Interim Period”), the Company may not
terminate Employee’s employment nor may it unilaterally revoke this
Agreement.  During the Interim Period,
Employee: (a) will draw the same monthly salary that Employee had been
receiving as of the Effective Date; (b) will observe regular office hours
with the exception of any vacation days taken; (c) will have the 24,000
shares of restricted stock awarded on July 29, 2009 vest on May 24,
2010; and (d) will continue to receive all benefits and allowances, if
any, that Employee had been receiving from the Company prior to the Effective
Date.

 

2.                                      SEPARATION PAYMENT. 
Company shall pay Employee separation payment in the total amount of,
$275,040.00, less normal payroll deductions, including income tax withholding
and FICA, (“Separation Payment”).  The
Separation Payment shall be paid to the Employee as follows: (a) an initial
payment in the amount of $148,980 shall be made on January 15, 2011; and (b) the
remainder of the Separation Payment shall be paid in eleven (11) semi-monthly
payments commencing on January 31, 2011 and ending on June 30, 2011.

 

Company
also agrees to pay Employee’s premiums for medical and dental benefits coverage
under COBRA for a period of twelve (12) months from the Resignation Date until July 15,
2011.  Such coverage shall be included in
and part of Employee’s maximum COBRA entitlement due to this qualifying
event.  Employee acknowledges and agrees
that Employee will continue to be responsible for Employee’s portion of
premiums for any dependent coverage elected under COBRA, which will be credited
against the semi-monthly Separation Payment. 
In the event Employee fails to timely pay his portion of the above
premiums, Company shall be entitled to cancel the employer’s portion of
Employee’s coverage under COBRA due to Employee’s nonpayment.

 

Employee
acknowledges and agrees that this Separation Payment does not constitute monies
to which he would otherwise be entitled as a result of his employment with the
Company, and that these monies constitute fair and adequate compensation for
the promises and covenants of the Employee set forth in this Agreement.
Employee further acknowledges and agrees that the Separation Payment and above
benefits constitutes the full amount of separation payments that Employee is
entitled to receive.  If Employee
subsequently revokes any portion of this Agreement, Employee shall immediately
be obligated to return the Separation Payment to Company in full.

 

Employee’s
participation in the Company’s Retirement Savings and Investment Plan (401k
Plan) will cease on the Employee’s Resignation Date.  At that time, Employee should contact John
Hancock at (800) 395-1113 for disposition of Employee’s account.

 

3.                                      VACATION.  Employee and Company agree that Employee has
accrued 250 hours of vacation at the Effective Date.  Employee and Company agree that the Employee
will be entitled to monetary compensation for these 250 hours of vacation and will
be paid for these hours on May 24, 2010.

 

 

4.                                       CELL
PHONE NUMBER.  Company
agrees to promptly provide the necessary information and authorization to
transfer Employee’s business cell phone number to a personal cell phone plan of
his choice.

 

5.                                     EMPLOYEE’S RELEASE OF CLAIMS.  For and in
consideration of the Separation Payment and corresponding benefits as described
in Paragraph 2 of this Agreement, Employee hereby irrevocably and
unconditionally releases, forever discharges, and covenants not to sue, or
bring any other legal action against Company with respect to any and all claims
and causes of action of any nature, both past and present, known and unknown,
foreseen and unforeseen, which Employee has or which could be asserted on
Employee’s behalf by any other person or entity, resulting from or relating to
any act or omission of any kind occurring on or before the date of the
execution of this Agreement.  The
Employee understands and agrees that this Agreement includes, but is not
limited to, the following:

 

a.                                       All claims and causes of
action arising under contract, tort or other common law, including, without
limitation, breach of contract, fraud, estoppel, misrepresentation, express or
implied duties of good faith and fair dealing, wrongful discharge,
discrimination, retaliation, harassment, negligence, gross negligence, false
imprisonment, assault and battery, conspiracy, intentional or negligent
infliction of emotional distress, slander, libel, defamation, refusal to
perform an illegal act and invasion of privacy.

 

b.                                      All claims and causes of
action arising under any federal, state, or local law, regulation, or ordinance,
including without limitation, claims under the AGE DISCRIMINATION IN EMPLOYMENT
ACT, the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1866,
the Americans With Disabilities Act, the Fair Labor Standards Act, the Family
and Medical Leave Act, the Employee Retirement Income Security Act, the Texas
Commission on Human Rights Act, the Texas Labor Code, the Texas Government
Code, as well as any claims for wages, employee benefits, vacation pay,
severance pay, bonus compensation, commissions, unemployment, deferred
compensation or other remuneration, or employment benefits or compensation;
provided, however, that this Release does not apply to claims for benefits
under Company-sponsored benefits plans covered under ERISA (other than claims
for severance and severance-related benefits). 
Any rights to benefits (other than separation benefits) under
Company-sponsored benefit plans are governed exclusively by the written plan
documents.

 

c.                                       All claims and causes of
action for past or future loss of pay or benefits, expenses, damages for pain
and suffering, mental anguish or emotional distress damages, liquidated
damages, punitive damages, compensatory damages, attorney’s fees, interest,
court costs, physical or mental injury, damage to reputation, and any other
injury, loss, damage or expense or any other legal or equitable remedy of any
kind whatsoever.

 

d.                                      All claims and
causes of action arising out of or in any way connected with, directly or
indirectly, Employee’s employment with Company, or any incident thereof,
including, without limitation, Employee’s treatment by Company; the terms and
conditions of Employee’s employment; and the separation of Employee’s
employment.

 

6.                                      COMPANY’S RELEASE OF CLAIMS.  For and in
consideration of the agreement and covenants undertaken by Employee in this
Agreement, Company hereby irrevocably and unconditionally releases, forever
discharges, and covenants not to sue, or bring any other legal action against
Employee with respect to any and all claims and causes of action of any nature,
both past and present, known and unknown foreseen and unforeseen, which Company
has or which could be asserted on Company’s behalf by any other 

 

2

 

person
or entity, resulting from or relating to any act or omission of any kind
occurring on or before the date of the execution of this Agreement.

 

Employee hereby represents and warrants that he has not committed any
act or omission, intentionally or unintentionally, that might expose Company,
its employees, officers and/or directors to any civil or criminal liability or
penalty that might be asserted by any party, specifically including state and
federal authorities.  Employee
acknowledges and understands that this representation and warranty is a key
term to this Agreement that Company is specifically relying on in releasing
Employee.

 

7.                                      NON-ADMISSION.  Employee and
Company acknowledge and agree that this Agreement and the payment of money to
Employee by Company should in no way be construed or interpreted as an
admission by Company of any violation of Employee’s rights or of any violation
of contract, statutory or common law by either Employee or Company.

 

8.                                         TAX ISSUES.  Employee and
Company will report, as may be required by law for income tax purposes, their
respective payment and receipt of the Separation Payment.  Each party shall bear their respective tax
liabilities, if any, arising from this settlement.  The Employee acknowledges that Company has
made no representations regarding the tax consequences of any amount received
by Employee pursuant to the terms of this Agreement.

 

9.                                      NON-DISPARAGEMENT: Employee specifically covenants and agrees
not to, directly or indirectly, make or cause to be made to anyone any
statement, orally or in writing, criticizing or disparaging Company with
respect to Employee’s employment with or separation from Company.  Employee specifically covenants and agrees
not to, directly or indirectly, make or cause to be made to anyone any
statement, orally or in writing, criticizing or disparaging Company, or
commenting in a negative fashion on the operations or business reputation of
Company.  Provided, however, that nothing
in this Agreement prohibits Employee from making statements to the President
and CEO, members of the board of directors, the Internal Audit Director, or the
company’s legal counsel in the performance of Employee’s duties with the
Company.  Moreover, nothing in this
Agreement prohibits Employee from responding truthfully to questions in a lawsuit,
administrative action, or other proceeding or pusuant to a court order.  The Company specifically covenants and agrees
that no statement, orally or in writing, shall be made on Company’s behalf to
anyone, criticizing or disparaging Employee with respect to Employee’s
employment with or separation from Company. 
Company further covenants and agrees that no statement, orally or in
writing, shall be made on Company’s behalf to anyone, criticizing or
disparaging Employee, or commenting in a negative fashion on the operations or
business reputation of Employee. 
Employee and Company agree that to the extent any unauthorized
statements are made, orally or in writing, by any current or former employees
of Company related to Employee, such statements shall not constitute a breach
of this provision or Agreement by Company.

 

10.                               TRANSITION.  In order to ensure a smooth transition from
Employee’s employment with Company, Employee shall provide reasonable
assistance to and cooperation with Company during the period between the
Resignation Date and July 15, 2011, in connection with any Company matters
for which Employee had knowledge or responsibility while employed by
Company.  If Company becomes involved in
any legal action after Employee’s Resignation Date relating to events which
occurred during Employee’s employment, Employee shall reasonably cooperate with
Company in the preparation, prosecution, or defense of Company’s case,
including, but not limited to, the execution of affidavits or documents or
providing information requested by Company. 
Further, to the extent Employee’s time commitment is anticipated to be
material in nature, the Company and Employee will negotiate the terms of
Employee’s consultancy on mutually agreeable terms separate from this
agreement.  Company will reimburse
reasonable out-of-pocket expenses related to such assistance if Company’s
approval is obtained in advance. 
Approval for such expenses shall not be unreasonably withheld.

 

3

 

11.                               RETURN OF COMPANY PROPERTY.  Employee and the Company agree that the
Employee agrees to return to Company, no later than October 31, 2010, all
Company Information, including, but not limited to, policies, manuals,
documents, memoranda, email communications and all other property belonging to
Company which is in Employee’s possession or under Employee’s control.  The term, “Company Information” as used in
this Agreement means (a) confidential information including, without
limitation, information received from third parties under confidential
conditions; and (b) other technical, business or financial information
which Company regards as confidential and the use or disclosure of which might
reasonably be considered to be contrary to the interests of Company. Employee
further agrees that in the course of her employment with Company, Employee has
acquired Company Information as defined above. 
Employee understands and agrees that such Company Information has been
disclosed to Employee in confidence and for Company use only.  Employee understands and agrees that she: (a) will
not disclose confidential information to anyone not authorized to have access
to it at any time during and after Employee’s employment with Company,
including Company employees; and (b) will not disclose or communicate
Company Information to any person outside the Company; and (c) will not
make use of Company Information on Employee’s own behalf, or on behalf of any
third party.  Provided, however, Employee
may disclose Company Information pursuant to a subpoena, document request,
deposition notice, or court order. 
Employee acknowledges and agrees that Employee’s obligation in this
paragraph shall survive the termination of this Agreement.

 

12.                                  TIME LIMITS.   Employee
acknowledges and agrees that Company has informed Employee that he is entitled
to twenty-one (21) days to consider the terms and provisions of this Agreement
prior to signing.  However, Employee may
knowingly and voluntarily waive this twenty-one (21) day period by signing
below. The Company and Employee agree that any changes to this Agreement,
whether material or immaterial, will not extend the period of time in which
Employee has to consider and sign the same, and if Employee does not sign the
Agreement within such twenty-one (21) day period (or if he revokes the signed
Agreement pursuant to Paragraph 13), the Separation Payment under Paragraph 2
shall not be paid.

 

Employee agrees that, if he chooses to sign this Agreement, he will
immediately provide the Company with a copy of the same via hand-delivery,
facsimile or email transmission (and retain proof of successful transmission)
to: Brenda Taquino, Human Resources, Geokinetics Inc., 1500 CityWest Blvd., Suite 800,
Houston, TX 77042 (281) 850-7330.

 

13.                                  REVOCATION. Employee acknowledges that Employee shall be
entitled to revoke this Agreement at any time prior to the expiration of seven (7) days
after the Effective Date, by providing written notice of such revocation to the
Company via hand-delivery, facsimile or email transmission (and retain proof of
successful transmission) to: Brenda Taquino, Human Resources, Geokinetics Inc.,
1500 CityWest Blvd., Suite 800, Houston, TX 77042 (281) 850-7330.

 

14.                                  CHOICE OF LAW/VENUE.  This Agreement shall be exclusively governed
by, construed, and enforced in accordance with, and subject to, the laws of the
State of Texas or federal law, where applicable.  The sole, exclusive and mandatory venue for
any disputes arising from or concerning Employee’s employment with Company or
this Agreement shall be in the state or federal courts located in Harris
County, Texas.

 

15.                                  ENTIRE AGREEMENT.  It is
expressly understood and agreed that this Agreement embodies the entire
agreement between Employee and Company and supersedes any and all prior
agreements, arrangements, or understandings between and among them, except for
the non-competition provision set forth in the Employment Agreement executed by
Employee and Company on March 22, 2010 (the “Employment Agreement”).  Company hereby advises Employee of its intent
to enforce Employee’s

 

4

 

non-compete obligations under Section 3.3 of the Employment
Agreement.  No oral understandings,
verbal representations, statements, promises, terms, conditions, obligations,
or agreements contrary or in addition to the terms of this Agreement exist.
This Agreement may not be changed by oral representations, and may only be
amended by written instrument executed by a duly authorized representative of
Employee and Company, or their respective successors or assigns.

 

16.                               OTHER REPRESENTATIONS:  Employee hereby represents and certifies that
he: (1) has carefully read all of this Agreement; (2) has been given
a fair opportunity to discuss and negotiate the terms of this Agreement; (3) understands
its provisions; (4) has been advised in writing and given the opportunity
to seek advice and consultation with attorneys regarding this Agreement; (5) has
determined that it is in Employee’s best interests to enter into this
Agreement; (6) has not been influenced to sign this Agreement by any
statement or representation by the Company not contained in this Agreement; and
(7) enters into this Agreement knowingly and voluntarily.

 

READ
CAREFULLY BEFORE SIGNING

 

THIS AGREEMENT CONTAINS A RELEASE AND WAIVER OF YOUR RIGHTS UNDER THE
AGE DISCRIMINATION IN EMPLOYMENT ACT AS WELL AS OTHER FEDERAL, STATE AND LOCAL
LAWS PROTECTING EMPLOYEE RIGHTS.  IF YOU
SIGN THIS AGREEMENT, YOU ARE WAIVING ALL OF YOUR RIGHTS TO ASSERT ANY CLAIMS
UNDER THESE LAWS.  PLEASE READ THIS
AGREEMENT CAREFULLY AND SEEK THE ADVICE OF AN ATTORNEY REGARDING THE LEGAL
EFFECT OF SIGNING THIS AGREEMENT.

 

 

	
   

  	
   

  	
   

  
	
  Scott
  A. McCurdy

  	
   

  	
  Date
  Signed

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Geokinetics Inc.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  Richard
  F. Miles

  	
   

  	
  Date
  Signed

  
	
  President
  and Chief Executive Officer

  	
   

  	
   

  
				

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00174-of-00352.parquet"}]]