Document:

RESALE PROSPECTUS

                           GRAND SLAM TREASURERS, INC.

                                 UP TO 1,650,000
                             SHARES OF COMMON STOCK

         WHICH THE SELLING SHAREHOLDERS MAY RESELL UNDER THIS PROSPECTUS

You  should  read this  resale  prospectus  carefully  before you  invest.  This
prospectus relates to 1,650,000 shares of common stock $.001 par value per share
(the  "Common  Stock")  of Grand  Slam  Treasures,  Inc.  (the  "Company").  The
stockholders of the Company listed in the "Selling Stockholders" section of this
resale  prospectus may offer and resell shares of Common Stock under this resale
prospectus for their own accounts.  Grand Slam Treasures,  Inc. will not receive
any proceeds from the resale of these shares by the selling stockholders.

     These shares were issued or are  issuable to the selling  stockholders  and
others as follows:

<PAGE>

(i)  1,650,000  shares issued and issuable  under the 2001  Non-Qualified  Stock
     Option Plan (the "Plan")

         The selling stockholders may offer their common stock through public or
private  transactions,  at prevailing  market prices or at privately  negotiated
prices. These future prices are not currently known.

         Grand Slam Treasurers,  Inc. stock is traded on the Nasdaq OTC Bulletin
Board under the symbol  "GRST".  On March 16, 2001 the last  reported sale price
for the common stock on the Nasdaq OTC Bulletin Board was $.28 per share.

         See Risk Factors  beginning on page 2 to read about  factors you should
consider before buying shares of common stock.

         NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY OTHER REGULATORY
BODY HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE ACCURACY
OR ADEQUACY OF THIS  PROSPECTUS.  ANY  REPRESENTATION  MADE TO THE CONTRARY IS A
CRIMINAL OFFENSE.

                  The date of this prospectus is March 19, 2001

<PAGE>

RISK FACTORS

         You should carefully consider the risks described below before deciding
whether to invest in Grand Slam  Treasurers,  Inc.. If any of the  contingencies
discussed  in the  following  paragraphs  or  other  materially  adverse  events
actually  materialize,   the  business,   financial  condition  and  results  of
operations of Grand Slam  Treasurers,  Inc.  could be  materially  and adversely
affected.  In such a case,  the trading price of Grand Slam  Treasurers,  Inc.'s
common stock could decline, and you could lose all or part of your investment.

Grand Slam Treasurers, Inc. Has Experienced Difficulty Implementing Its Business
Plan

     Grand Slam Treasurers, Inc. has an ambitious business plan that it has been
attempting to implement  since December 1999.  Since the company has experienced
difficulty  obtaining financing from traditional  sources,  execution of most of
its business plan has been delayed.  There can be no assurance that the business
plan can be implemented and successfully executed.

Substantial Doubt Exists as to Grand Slam Treasurers, Inc.s' Ability to Continue
as a Going Concern

     For a substantial period, the Company has incurred net operating losses and
management  projects  that the  Company  will  continue  to incur net losses and
experience  negative  cash flow for the  foreseeable  future.  This will require
substantial  amounts of capital.  As of the date of this prospectus,  management
does not have commitments for additional financing and cannot be sure that Grand
Slam Treasurers, Inc. will be able to obtain any such commitments at all or upon
reasonable terms and conditions.

Revised Corporate Business

     In the past,  the Company  sought to purchase  and develop  theme parks and
market  collectibles  and  artifacts.  The Company is now moving away from these
lines of business and will focus its  operations on other  businesses  yet to be
identified.

Limited Access to Additional Funds

     No assurance can be given that the business will generate  sufficient  cash
flow from  operations to fund  liquidity  needs in the future.  At present,  the
Company does not have  sufficient  cash or borrowing power to finance its future
growth. Therefore,  growth could be limited unless the Company is able to obtain
additional cash from the sale or equity or the occurrence of debt.

Volitility of Market Price

     The market  price of our  common  stock  could be  subject  to  significant
fluctuation due to variations and response to various factors including, but not
limited to:

o    variations in our annually and quarterly  financial results or those of our
     competitors.

o    Changes by financial  research  analysis and their  estimates of our future
     earnings,  conditions  and the  economy in general  or in our  industry  in
     particular.

o    Unfavorable publicity or changes in applicable laws or regulations.

Grand Slam Treasurers, Inc. is Subject to All Risks Faced by Start-Up Companies

     Grand Slam Treasurers,  Inc. may encounter  certain risks and difficulties,
especially given its limited operating history:

o    Future  revenues  will depend  heavily on  management's  ability to acquire
     businesses,  to attract  management  to  operate  these  businesses  and to
     operate them profitably.

                                       2
<PAGE>

A NOTE ABOUT FORWARD-LOOKING STATEMENTS

     This prospectus contains both historical and forwardlooking statements. All
statements other than statements of historical fact are, or may be deemed to be,
forwardlooking  statements  within the meaning of Section 27A of the  Securities
Act of  1933  and  Section  21E of the  Securities  Exchange  Act of  1934.  The
forwardlooking  statements in this prospectus are not based on historical facts,
but rather  reflect the current  expectations  of the  management  of Grand Slam
Treasurers, Inc. concerning future results and events.

     The  forward-looking  statements  generally can be identified by the use of
terms such as "believe,"  "expect,"  "anticipate,"  "intend," "plan," "foresee,"
"likely," "will" or other similar words or phrases.  Similarly,  statements that
describe the objectives,  plans or goals of Grand Slam  Treasurers,  Inc. are or
may be forwardlooking statements.

     Forward-looking  statements involve known and unknown risks,  uncertainties
and other factors that may cause the actual results, performance or achievements
of  Grand  Slam  Treasurers,  Inc.  to be  different  from any  future  results,
performance  and  achievements  expressed  or implied by these  statements.  You
should review carefully all information,  including the financial statements and
the notes to the financial  statements included in this prospectus.  In addition
to the factors  discussed  above under "Risk  Factors," the following  important
factors could affect future  results,  causing the results to differ  materially
from those expressed in the forwardlooking statements in this prospectus:

     o    the  timing,  impact and other  uncertainties  related to pending  and
          future acquisitions by Grand Slam Treasurers, Inc.

     o    the timing or ability to raise capital

     o    the ability to attract and retain qualified managment

     o    interest rate fluctuations and other capital market conditions.

     These factors are not necessarily  all of the important  factors that could
cause  actual  results  to  differ   materially  from  those  expressed  in  the
forwardlooking  statements in this  prospectus.  Other unknown or  unpredictable
factors also could have material  adverse effects on the future results of Grand
Slam Treasurers,  Inc. The forwardlooking statements in this prospectus are made
only as of the date of this prospectus and Grand Slam Treasurers,  Inc. does not
have any obligation to publicly update any forwardlooking  statements to reflect
subsequent  events or circumstances.  Grand Slam Treasurers,  Inc. cannot assure
you that projected results will be achieved.

USE OF PROCEEDS

     Because  this  prospectus  is solely  for the  purpose  of  permitting  the
participants  in the Amended and Restated 2001  Non-Qualified  Stock Option Plan
("Participants") to offer and sell shares, Grand Slam Treasurers,  Inc. will not
receive any  proceeds  from the sale of the shares  being  offered.  The selling
stockholders  will receive all the  proceeds.  However,  Grand Slam  Treasurers,
Inc.will  receive the proceeds  from any exercise of stock options which will be
used for general corporate purposes.

DETERMINATION OF OFFERING PRICE

     This  offering is solely for the purpose of allowing  Participants  to sell
shares. The Participants may elect to sell some or all of their shares when they
choose, in the near future or at a later date, at the price at which they choose
to sell. As the market develops,  the Participants  will determine the price for
their shares.

                                       3
<PAGE>

Dilution

     This offering is for sales of shares by  Participants.  Such sales will not
result in any  dilution to the net  tangible  book value per share of the common
stock of Grand Slam  Treasurers,  Inc.  before and after the sales.  Prospective
investors should be aware,  however,  that the market price of shares being sold
may not bear any rational  relationship to net tangible book value per share. As
of March 19, 2001,  the net  tangible  book value per  outstanding  share of the
common stock of Grand Slam Treasurers,  Inc. was a negative.  Thus,  exercise of
the options will be non-dilutive.

PARTICIPANTS

     The Participants  acquired  beneficial  ownership of all the shares offered
for resale  pursuant to this  prospectus  in  compensatory  transactions.  These
transactions  include stock  bonuses for  employees and stock options  issued or
issuable under the 2001 Non-Qualified Stock Option Plan. A shareholder is deemed
to beneficially  own shares held in his or her name and certain shares he or she
does not own but has the right to acquire  upon  option  exercise  or  otherwise
within 60 days after the date of this prospectus.

     After the sales are complete, the selling stockholders  beneficially owning
1% or more of the  outstanding  common stock will be Larry L. Eastland  (17.70%)
and  Robert  Klosterman   (19.34%),   based  on  30,907,929  shares  issued  and
outstanding as of March 19, 2001.

PLAN OF DISTRIBUTION

     Grand Slam  Treasurers,  Inc.  is  registering  this  offering of shares on
behalf of the  Participants.  Grand Slam  Treasurers,  Inc.  will pay all costs,
expenses and fees related to the  registration,  including all  registration and
filing fees, printing expenses,  fees and disbursements of its counsel, blue sky
fees and expenses.  The  Participants  will pay any  underwriting  discounts and
selling commissions in connection with the sale of the shares.

     The  Participants  may sell the shares covered by this prospectus from time
to  time in one or more  transactions  through  the  OTC  Bulletin  Board  or an
interdealer  quotation  system,  on  one  or  more  securities   exchanges,   in
alternative trading markets or otherwise, at prices and at terms then prevailing
or at  prices  related  to the  then  current  market  price,  or in  negotiated
transactions. The Participant will determine the prices at which they sell their
shares in these  transactions.  The Participant  may effect the  transactions by
selling  the  shares  to  or  through   broker-dealers.   In  effecting   sales,
broker-dealers  engaged by the Participants may arrange for other  brokerdealers
to  participate  in the  resales.  The shares  may be sold by one or more,  or a
combination, of the following:

     o    a block trade in which the brokerdealer attempts to sell the shares as
          agent but may  position and resell a portion of the block as principal
          to facilitate the transaction,

     o    purchases  by  a   brokerdealer   as  principal   and  resale  by  the
          brokerdealer for its account,

     o    ordinary  brokerage  transactions and transactions in which the broker
          solicits purchasers, and

     o    privately negotiated transactions.

     The  amount  of  securities  to be  offered  or  resold  by  means  of this
prospectus  by each  Participant,  and any other  person  with whom he or she is
acting  in  concert  for  the  purpose  of  selling  securities  of  Grand  Slam
Treausures, Inc., is limited by SEC Rule 144(e)(1) and (2). The number of shares
resold may not exceed, during any three-month period, the greater of:

     o    1% of the shares of the class  outstanding as shown by the most recent
          report published by the issuer, or

     o    the  average  weekly  reported  volume of trading  in such  securities
          during the four  calendar  weeks  preceding the date of receipt of the
          order  to  execute  the  transaction  by the  broker  or the  date  of
          execution of the  transaction  directly with a market  maker.  For the
          purpose  of  determining  the  amount of  securities  sold  during any
          three-month period, the following provisions shall apply:

                                       4
<PAGE>

         (i) Where both convertible  securities and securities of the class into
      which they are convertible are sold, the amount of convertible  securities
      sold  shall be deemed to be the  amount of  securities  of the class  into
      which they are  convertible  for the purpose of determining  the aggregate
      amount of securities of both classes sold;

         (ii) The  amount  of  securities  sold  for the  account  of a  pledgee
      thereof,  or for the  account of a purchaser  of the  pledged  securities,
      during any period of three  months  within one year after a default in the
      obligation secured by the pledge, and the amount of securities sold during
      the same  three-month  period  for the  account of the  pledgor  shall not
      exceed,  in the  aggregate,  the amount  specified in  paragraph  SEC Rule
      144(e)(1) or (2), whichever is applicable;

         (iii) The amount of securities  sold for the account of a donee thereof
      during any period of three months within one year after the donation,  and
      the amount of securities sold during the same  three-month  period for the
      account of the  donor,  shall not  exceed,  in the  aggregate,  the amount
      specified in paragraph SEC Rule 144(e)(1) or (2), whichever is applicable;

         (iv) Where  securities were acquired by a trust from the settlor of the
      trust,  the amount of such  securities  sold for the  account of the trust
      during any period of three months within one year after the acquisition of
      the securities by the trust,  and the amount of securities sold during the
      same three-month period for the account of the settlor,  shall not exceed,
      in the aggregate,  the amount specified in paragraph SEC Rule 144(e)(1) or
      (2), whichever is applicable.

         (v) The amount of  securities  sold for the  account of the estate of a
      deceased  person,  or for the  account of a  beneficiary  of such  estate,
      during any period of three months and the amount of securities sold during
      the same period for the account of the deceased  person prior to his death
      shall not  exceed,  in the  aggregate,  the amount  specified  in SEC Rule
      144(e) (1) or (2), whichever is applicable;  provided,  that no limitation
      on amount  shall  apply if the  estate or  beneficiary  thereof  is not an
      affiliate of the issuer;

         (vi)  When  two or more  affiliates  or other  persons  agree to act in
      concert for the purpose of selling securities of an issuer, all securities
      of the same class  sold for the  account  of all such  persons  during any
      period of three months shall be aggregated  for the purpose of determining
      the limitation on the amount of securities sold;

         (vii)  The  following  sales  of  securities  need not be  included  in
      determining the amount of securities sold:  securities sold pursuant to an
      effective registration statement under the Securities Act; securities sold
      pursuant to an exemption  provided by  Regulation  A under the  Securities
      Act;  securities sold in a transaction exempt pursuant to Section 4 of the
      Securities Act and not involving any public offering;  and securities sold
      offshore pursuant to Regulation S under the Securities Act.

         The   Participants   may   enter   into   hedging   transactions   with
broker-dealers. In these transactions,  broker-dealers may engage in short sales
of the common stock in the course of hedging the positions  they assume with the
Participants.  The Participants also may sell the common stock short pursuant to
this prospectus and redeliver the shares to close out these short positions. The
Participants  may enter into option or other  transactions  with  broker-dealers
that require the  delivery to the  broker-dealer  of the shares  covered by this
prospectus.  The broker-dealer may then resell or otherwise  transfer the shares
pursuant to this prospectus. The Participants also may loan or pledge the shares
to a broker-dealer. The broker-dealer may then sell the loaned shares or, upon a
default  by the  Participant,  the  broker-dealer  may sell the  pledged  shares
pursuant to this prospectus.

         The  Participants may engage in other financing  transactions  that may
include forward contract transactions or borrowings from financial  institutions
in which the shares are pledged as  security.  In  connection  with any of these
forward contract  transactions,  the Participants  would pledge shares to secure
their  obligations  and the  counterparty to these  transactions  would sell the
common stock short to hedge its transaction with the Participant. Upon a default
by the Participant under any of these  financings,  including a forward contract
transaction,  the pledgee or its transferee may sell the pledged shares pursuant
to this  prospectus.  Any such pledgee or its  transferee  will be identified in
this prospectus by  post-effective  amendment to the  registration  statement of
which it is a part.

                                       5
<PAGE>

         Broker-dealers  or  agents  may  receive  compensation  in the  form of
commissions,  discounts or concessions from the Participant.  Broker-dealers  or
agents may also receive  compensation from the purchasers of the shares for whom
they act as agents or to whom they sell as principals,  or both. Compensation to
a particular broker-dealer may be in excess of customary commissions and will be
in amounts to be  negotiated  with a Participant  in  connection  with the sale.
Broker-dealers  or  agents,  any  other  participating  broker-dealers  and  the
Participants  may be deemed to be  "underwriters"  within the meaning of Section
2(11) of the Securities Act in connection with sales of the shares. Accordingly,
any  commission,  discount or concession  received by them and any profit on the
resale  of the  shares  purchased  by  them  may be  deemed  to be  underwriting
discounts or commissions  under the Securities Act. Because the Participants may
be deemed to be  "underwriters"  within  the  meaning  of  Section  2(11) of the
Securities  Act, the  Participants  will be subject to the  prospectus  delivery
requirements of the Securities Act.

         The  Participants  will be  subject  to  applicable  provisions  of the
Securities  Exchange  Act of 1934  and the  associated  rules  and  regulations,
including  Regulation M. These  provisions may limit the timing of purchases and
sales of  shares of the  common  stock of Grand  Slam  Treasurers,  Inc.  by the
participants.  Grand Slam  Treasurers,  Inc. will make copies of this prospectus
available to the  Participants and has informed them of the need for delivery of
copies of this prospectus to purchasers at or before the time of any sale of the
shares.

LEGAL OPINION

         Vanderkam & Sanders,  Houston,  TX has passed upon the  legality of the
shares offered by this prospectus.

EXPERTS

         The  consolidated  statements of operations,  stockholders'  equity and
cash flows of Grand Slam Treasures,  Inc. and subsidiary for the year ended June
30, 1999 included in this  prospectus  have been included  herein in reliance on
the report of Mark Bailey & Co., Ltd., independent certified public accountants,
given on  authority  of that firm as experts in  accounting  and  auditing.  The
consolidated  statements of operations,  stockholders'  equity and cash flows of
Grand Slam  Treasures,  Inc.  and  subsidiary  for the year ended June 30,  2000
included in this  prospectus have been included herein in reliance on the report
of Aaronson,  Fetridge & Weigle, P.C., independent certified public accountants,
given on authority of that firm as experts in accounting and auditing.

         With respect to the unaudited  interim financial  information  included
herein,  the  independent  certified  public  accountants  have not  audited  or
reviewed the  information and have not expressed an opinion or any other form of
assurance with respect to this information.

How To Obtain Additional Information

         Grand Slam Treasures,  Inc. has filed a registration statement with the
Securities and Exchange  Commission  relating to the securities  offered by this
prospectus.  The prospectus does not contain all of the information set forth in
the registration  statement.  For further information with respect to Grand Slam
Treasurers,  Inc. and the securities  offered by this  prospectus,  refer to the
registration statement. In addition, Grand Slam Treasurers, Inc. recently became
a  public  company  required  to file  annual  and  quarterly  reports  with the
Securities  and  Exchange  Commission.  As of the  date of this  prospectus,  no
reports have been required to be filed.  You may read and copy the  registration
statement  and  any  materials  Grand  Slam  Treasurers,  Inc.  files  with  the
Securities and Exchange  Commission at the Securities and Exchange  Commission's
Public  Reference  Room at 450 Fifth Street,  N.W.,  Washington,  DC 20549.  The
public may obtain  information on the operation of the Public  Reference Room by
calling the Securities and Exchange  Commission at  1800SEC0330.  The Securities
and Exchange  Commission  also maintains an Internet site at  www.sec.gov  where
Grand Slam Treasures,  Inc.  Securities and Exchange  Commission  filings can be
viewed.AMENDED  AND  RESTATED
                            INDEMNIFICATION AGREEMENT

     This  Amended  and  Restated  Indemnification Agreement (this "Agreement"),
made  and  entered  into  as  of the ___ day of ___________, 2001 by and between
Syntroleum  Corporation,  a  Delaware  corporation  (the  "Corporation"),  and
______________________  ("Indemnitee").

                         W  I  T  N  E  S  S  E  T  H:
                         -  -  -  -  -  -  -  -  -  -

WHEREAS,  Syntroleum  Corporation,  an  Oklahoma  corporation
("Syntroleum-Oklahoma"),  and  Indemnitee  entered  into  an  Indemnification
Agreement  dated  as  of  November  3,  1997  (the  "Original  Indemnification
Agreement");  and

WHEREAS,  pursuant to an Agreement and Plan of Merger dated as of March 30, 1998
by  and  between  Syntroleum-Oklahoma  and SLH Corporation, a Kansas corporation
("SLH"), effective August 7, 1998, Syntroleum-Oklahoma merged (the "SLH Merger")
with  and into SLH, with SLH being the surviving corporation and SLH changed its
name  to  Syntroleum  Corporation  ("Syntroleum-Kansas");  and

WHEREAS,  pursuant  to  the  SLH  Merger, Syntroleum-Kansas assumed the Original
Indemnification  Agreement;  and

WHEREAS,  Syntroleum-Kansas  and the Corporation are parties to an Agreement and
Plan  of  Merger  (the  "Merger Agreement") dated as of May 7, 1999, pursuant to
which  (i) Syntroleum-Kansas would be merged with and into the Corporation, (ii)
the  Corporation  would  be  the  surviving  corporation, and (iii) the Original
Indemnification  Agreement  would  be assumed by the Corporation and amended and
restated  to  effect  such  assumption.

WHEREAS,  Indemnitee  is  currently  serving  or  is about to begin serving as a
director  and/or  officer of the Corporation and/or in another Corporate Status,
and  Indemnitee  is  willing,  subject to, among other things, the Corporation's
execution  and  performance  of  this  Agreement,  to continue in or assume such
capacity  or  capacities;  and

WHEREAS,  the  Bylaws  of  the  Corporation  provide  that the Corporation shall
indemnify  directors  and  officers  of  the Corporation in the manner set forth
therein;  and

WHEREAS, the Corporation and Indemnitee desire to amend and restate the Original
Indemnification Agreement to reflect the transactions contemplated by the Merger
Agreement  in  order  to  induce  Indemnitee to provide services as contemplated
hereby  and  the  Corporation  has deemed it to be in its best interest to enter
into  this  Agreement  with  Indemnitee.

<PAGE>
NOW,  THEREFORE,  in consideration of Indemnitee's agreement to provide services
to  the  Corporation  and/or  certain  of its affiliates as contemplated by this
Agreement,  the  mutual  agreements contained herein and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties  agree  as  follows.

     1.  Certain  Definitions
         --------------------

     As  used  herein,  the  following  words and terms shall have the following
respective  meanings  (whether  singular  or  plural):

"CHANGE  OF CONTROL" means a change in control of the Corporation after the date
Indemnitee acquired his Corporate Status, which shall be deemed to have occurred
in  any  one of the following circumstances occurring after such date: (i) there
shall  have  occurred  an  event  required  to  be  reported with respect to the
Corporation  in  response  to Item 6(e) of Schedule 14A of Regulation 14A (or in
response  to any similar item or any similar schedule or form) promulgated under
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), whether or
not  the  Corporation  is  then  subject to such reporting requirement; (ii) any
"person"  (as such term is used in Sections 13(d) and 14(d) of the Exchange Act)
shall  have  become  the  "beneficial owner" (as defined in Rule 13d-3 under the
Exchange  Act),  directly  or  indirectly,  of  securities  of  the  Corporation
representing  40% or more of the combined voting power of the Corporation's then
outstanding  voting  securities without prior approval of at least two-thirds of
the members of the Board of Directors in office immediately prior to such person
attaining  such  percentage  interest;  (iii)  the  Corporation  is a party to a
merger,  consolidation,  sale  of  assets  or  other  reorganization, or a proxy
contest,  as  a consequence of which members of the Board of Directors in office
immediately  prior  to such transaction or event constitute less than a majority
of  the  Board  of  Directors  thereafter;  or  (iv)  during  any  period of two
consecutive  years,  individuals who at the beginning of such period constituted
the  Board  of  Directors  (including,  for this purpose, any new director whose
election  or  nomination  for  election  by  the  Corporation's shareholders was
approved  by a vote of at least two-thirds of the directors then still in office
who  were  directors  at  the  beginning of such period) cease for any reason to
constitute  at  least  a  majority  of  the  Board  of  Directors.

"CORPORATE  STATUS"  describes  the status of Indemnitee as a director, officer,
employee,  agent  or  fiduciary  of the Corporation or of any other corporation,
partnership,  limited  liability  company,  association,  joint  venture, trust,
employee  benefit  plan or other enterprise that Indemnitee is or was serving at
the  request  of  the  Corporation.

"COURT" means the District Court of Tulsa County of the State of Oklahoma or any
other  court  of  competent  jurisdiction.

"DGCL" means the Delaware General Corporation Law, as amended from time to time.

                                        2
<PAGE>
"EXPENSES" shall include all reasonable attorneys' fees, retainers, court costs,
transcript  costs,  fees  of experts, witness fees, travel expenses, duplicating
costs,  printing and binding costs, telephone charges, postage, delivery service
fees,  and all other disbursements or expenses of the types customarily incurred
in  connection  with  prosecuting,  defending, preparing to prosecute or defend,
investigating,  or  being  or  preparing  to  be  a  witness  in  a  Proceeding.

"INDEPENDENT  COUNSEL"  means  a  law  firm,  or a member of a law firm, that is
experienced  in  matters of corporation law and neither presently is, nor in the
five  years  previous  to  his  selection  or  appointment has been, retained to
represent:  (i)  the  Corporation or Indemnitee in any matter material to either
such  party or (ii) any other party to the Proceeding giving rise to a claim for
indemnification  hereunder.

"MATTER"  is  a  claim,  a  material  issue or a substantial request for relief.

"PROCEEDING"  includes  any  action,  suit,  arbitration,  alternate  dispute
resolution  mechanism,  investigation,  administrative  hearing  or  any  other
proceeding, whether civil, criminal, administrative or investigative, except one
initiated  by  Indemnitee  pursuant to Section 6.01 of this Agreement to enforce
                                       ------------
his  rights  under  this  Agreement.

                           2.  Services by Indemnitee
                               ----------------------

2.01     SERVICES  BY  INDEMNITEE.  Indemnitee  agrees  to  serve or continue to
serve  in  his  current capacity or capacities as a director, officer, employee,
agent  or fiduciary of the Corporation.  Indemnitee also agrees to serve, as the
Corporation  may  request  from  time to time, as a director, officer, employee,
agent  or  fiduciary  of  any  other corporation, partnership, limited liability
company,  association,  joint  venture,  trust  or other enterprise in which the
Corporation  has  an  interest.  Indemnitee and the Corporation each acknowledge
that  they have entered into this Agreement as a means of inducing Indemnitee to
serve  the  Corporation  in  such  capacities.

2.02     TERMINATION OF SERVICES.  Indemnitee may at any time and for any reason
resign  from  such  position  or  positions  (subject  to  any other contractual
obligation  or  any  obligation  imposed  by operation of law).  The Corporation
shall have no obligation under this Agreement to continue Indemnitee in any such
position  for any period of time and shall not be precluded by the provisions of
this Agreement from removing or terminating Indemnitee from any such position at
any  time.

     3.  Indemnification
         ---------------

3.01     GENERAL.  The  Corporation  shall,  to  the fullest extent permitted by
applicable  law  in  effect  on  the  date hereof, and to such greater extent as
applicable  law  may  thereafter  permit, indemnify and hold Indemnitee harmless
from  and  against any and all losses, liabilities, claims, damages and, subject
to  Section 3.02,  Expenses (as this and all other capitalized words are defined
    ------------
in  Article  1.  of  this  Agreement),  whatsoever  arising  out of any event or
    -----------
occurrence  related  to the fact that Indemnitee is or was a director or officer
   ----
of  the  Corporation  or  is  or  was  serving  in  another  Corporate  Status.

                                        3
<PAGE>

3.02     EXPENSES.  If Indemnitee is, by reason of his Corporate Status, a party
to and is successful, on the merits or otherwise, in any Proceeding, he shall be
indemnified  against  all Expenses actually and reasonably incurred by him or on
his  behalf  in connection therewith.  If Indemnitee is not wholly successful in
such  Proceeding but is successful, on the merits or otherwise, as to any Matter
in  such  Proceeding,  the  Corporation  shall  indemnify Indemnitee against all
Expenses  actually  and  reasonably incurred by him or on his behalf relating to
such  Matter.  The  termination of any Matter in such a Proceeding by dismissal,
with  or without prejudice, shall be deemed to be a successful result as to such
Matter.  To  the  extent  that  the  Indemnitee  is,  by reason of his Corporate
Status,  a  witness  in  any  Proceeding,  he  shall  be indemnified against all
Expenses  actually and reasonably incurred by him or on his behalf in connection
therewith.

                           4.  Advancement of Expenses
                               -----------------------

4.01     ADVANCES.  In  the  event  of any threatened or pending action, suit or
proceeding  in which Indemnitee is a party or is involved and that may give rise
to a right of indemnification under this Agreement, following written request to
the  Corporation by Indemnitee, the Corporation shall promptly pay to Indemnitee
amounts  to  cover expenses reasonably incurred by Indemnitee in such proceeding
in advance of its final disposition upon the receipt by the Corporation of (i) a
written  undertaking  executed  by  or  on  behalf  of Indemnitee providing that
Indemnitee  will  repay  the  advance  if it shall ultimately be determined that
Indemnitee  is  not entitled to be indemnified by the Corporation as provided in
this Agreement and (ii) satisfactory evidence as to the amount of such expenses.

4.02     REPAYMENT  OF  ADVANCES  OR  OTHER  EXPENSES.  Indemnitee  agrees  that
Indemnitee  shall  reimburse  the  Corporation  for  all  expenses  paid  by the
Corporation  in  defending  any civil, criminal, administrative or investigative
action,  suit  or  proceeding  against  Indemnitee  in the event and only to the
extent  that it shall be determined pursuant to the provisions of this Agreement
or  by  final  judgment  or other final adjudication under the provisions of any
applicable  law  that  Indemnitee  is  not  entitled  to  be  indemnified by the
Corporation  for  such  expenses.

     5.  Procedure  for  Determination  of  Entitlement  to  Indemnification
         -------------------------------------------------------------------

5.01     REQUEST  FOR  INDEMNIFICATION.  To  obtain  indemnification, Indemnitee
shall  submit  to  the  Secretary of the Corporation a written claim or request.
Such written claim or request shall contain sufficient information to reasonably
inform  the  Corporation  about  the nature and extent of the indemnification or
advance  sought  by Indemnitee.  The Secretary of the Corporation shall promptly
advise  the  Board  of  Directors  of  such  request.

                                        4
<PAGE>

5.02     DETERMINATION  OF ENTITLEMENT; NO CHANGE OF CONTROL.  If there has been
no  Change  of Control at the time the request for indemnification is submitted,
Indemnitee's  entitlement  to  indemnification shall be determined in accordance
with  Section  145(d)  of  the DGCL.  If entitlement to indemnification is to be
determined  by  Independent  Counsel,  the  Corporation  shall furnish notice to
Indemnitee  within  10  days  after  receipt of the request for indemnification,
specifying the identity and address of Independent Counsel.  The Indemnitee may,
within 14 days after receipt of such written notice of selection, deliver to the
Corporation  a  written  objection  to  such  selection.  Such  objection may be
asserted  only  on  the ground that the Independent Counsel so selected does not
meet  the  requirements of Independent Counsel and the objection shall set forth
with  particularity  the  factual  basis  for  such  assertion.  If  there is an
objection  to  the  selection  of Independent Counsel, either the Corporation or
Indemnitee  may  petition  the  Court  for a determination that the objection is
without  a  reasonable  basis  and/or for the appointment of Independent Counsel
selected  by  the  Court.

5.03     DETERMINATION  OF  ENTITLEMENT; CHANGE OF CONTROL.  If there has been a
Change  of  Control  at  the  time the request for indemnification is submitted,
Indemnitee's  entitlement  to  indemnification  shall be determined in a written
opinion  by  Independent  Counsel selected by Indemnitee.  Indemnitee shall give
the  Corporation  written  notice  advising  of  the identity and address of the
Independent  Counsel  so selected.  The Corporation may, within seven days after
receipt of such written notice of selection, deliver to the Indemnitee a written
objection to such selection.  Indemnitee may, within five days after the receipt
of  such  objection from the Corporation, submit the name of another Independent
Counsel and the Corporation may, within seven days after receipt of such written
notice  of  selection,  deliver  to  the  Indemnitee a written objection to such
selection.  Any objections referred to in this Section 5.03 may be asserted only
                                               ------------
on  the  ground  that  the  Independent  Counsel  so  selected does not meet the
requirements  of  Independent  Counsel  and  such objection shall set forth with
particularity the factual basis for such assertion.  Indemnitee may petition the
Court  for  a determination that the Corporation's objection to the first and/or
second selection of Independent Counsel is without a reasonable basis and/or for
the  appointment  as  Independent  Counsel  of  a  person selected by the Court.

5.04     PROCEDURES  OF  INDEPENDENT COUNSEL.  If a Change of Control shall have
occurred  before  the  request  for  indemnification  is  sent  by  Indemnitee,
Indemnitee  shall  be  presumed  (except as otherwise expressly provided in this
Agreement)  to  be  entitled to indemnification upon submission of a request for
indemnification  in  accordance  with  Section  5.01  of  this  Agreement,  and
                                       -------------
thereafter  the  Corporation  shall  have  the  burden  of proof to overcome the
presumption  in  reaching  a  determination  contrary  to  the presumption.  The
presumption  shall be used by Independent Counsel as a basis for a determination

                                        5
<PAGE>

of  entitlement  to  indemnification unless the Corporation provides information
sufficient  to overcome such presumption by clear and convincing evidence or the
investigation, review and analysis of Independent Counsel convinces him by clear
and  convincing  evidence  that  the  presumption  should  not  apply.

Except  in the event that the determination of entitlement to indemnification is
to  be  made  by  Independent  Counsel, if the person or persons empowered under
Section  5.02  or  5.03  of  this  Agreement  to  determine  entitlement  to
    ---------      ----
indemnification  shall  not  have  made and furnished to Indemnitee in writing a
    --------
determination  within  60  days  after receipt by the Corporation of the request
therefor, the requisite determination of entitlement to indemnification shall be
deemed  to  have  been  made  and  Indemnitee  shall  be  entitled  to  such
indemnification  unless  Indemnitee  knowingly misrepresented a material fact in
connection  with  the  request  for  indemnification  or such indemnification is
prohibited  by  applicable  law.  The  termination  of  any Proceeding or of any
Matter  therein, by judgment, order, settlement or conviction, or upon a plea of
nolo  contendere  or  its  equivalent,  shall not (except as otherwise expressly
provided  in  this Agreement) of itself adversely affect the right of Indemnitee
to  indemnification  or create a presumption that Indemnitee did not act in good
faith and in a manner that he reasonably believed to be in or not opposed to the
best  interests  of the Corporation, or with respect to any criminal Proceeding,
that Indemnitee had reasonable cause to believe that his conduct was unlawful. A
person  who  acted in good faith and in a manner he reasonably believed to be in
the  interest  of the participants and beneficiaries of an employee benefit plan
of  the Corporation shall be deemed to have acted in a manner not opposed to the
best  interests  of  the  Corporation.

For  purposes  of  any determination hereunder, a person shall be deemed to have
acted  in  good  faith  and  in  a manner he reasonably believed to be in or not
opposed  to  the  best  interests  of  the  Corporation, or, with respect to any
criminal  action  or  Proceeding, to have had no reasonable cause to believe his
conduct  was unlawful, if his action is based on the records or books of account
of  the  Corporation  or another enterprise or on information supplied to him by
the  officers  of  the  Corporation or another enterprise in the course of their
duties  or  on  the  advice  of  legal  counsel  for  the Corporation or another
enterprise or on information or records given or reports made to the Corporation
or  another  enterprise  by  an independent certified public accountant or by an
appraiser  or  other  expert selected with reasonable care by the Corporation or
another enterprise.  The term "another enterprise" as used in this Section shall
mean  any  other  corporation  or  any  partnership,  limited liability company,
association,  joint venture, trust, employee benefit plan or other enterprise of
which  such  person  is  or  was  serving at the request of the Corporation as a
director,  officer,  employee  or agent.  The provisions of this paragraph shall
not  be deemed to be exclusive or to limit in any way the circumstances in which
an  Indemnitee may be deemed to have met the applicable standards of conduct for
determining  entitlement  to  rights  under  this  Agreement.

5.05     INDEPENDENT  COUNSEL  EXPENSES.  The  Corporation shall pay any and all
reasonable  fees and expenses of Independent Counsel incurred acting pursuant to
this  Article  5.  and  in  any  proceeding to which it is a party or witness in
      -----------
                                        6
<PAGE>

respect  of  its  investigation  and written report and shall pay all reasonable
fees  and  expenses incident to the procedures in which such Independent Counsel
was  selected  or  appointed.  No  Independent  Counsel  may  serve  if a timely
objection  has been made to his selection until a Court has determined that such
objection  is  without  a  reasonable  basis.

     6.  Certain  Remedies  of  Indemnitee
         ---------------------------------

6.01     ADJUDICATION.  In  the  event that (i) a determination is made pursuant
to  Section  5.02  or  5.03  hereof  that  Indemnitee  is  not  entitled  to
    -------------      ----
indemnification under this Agreement; (ii) advancement of Expenses is not timely
   -----------
made  pursuant  to Section 4.01 of this Agreement; (iii) Independent Counsel has
                   ------------
not  made  and  delivered  a  written  opinion  determining  the  request  for
indemnification  (a)  within  90 days after being appointed by the Court, or (b)
within  90  days  after  objections  to his selection have been overruled by the
Court  or (c) within 90 days after the time for the Corporation or Indemnitee to
object  to  his selection; or (iv) payment of indemnification is not made within
five  days after a determination of entitlement to indemnification has been made
or  deemed  to  have  been  made  pursuant to Section 5.02, 5.03 or 5.04 of this
                                              ------------  ----    ----
Agreement,  Indemnitee  shall be entitled to an adjudication in the Court, or in
any  other  court  of  competent  jurisdiction,  of  his  entitlement  to  such
indemnification  or  advancement of Expenses.  In the event that a determination
shall  have  been  made  that Indemnitee is not entitled to indemnification, any
judicial proceeding or arbitration commenced pursuant to this Section 6.01 shall
                                                              ------------
be  conducted  in  all  respects as a de novo trial on the merits and Indemnitee
shall not be prejudiced by reason of that adverse determination.  If a Change of
Control  shall  have  occurred, in any judicial proceeding commenced pursuant to
this  Section  6.01,  the  Corporation  shall  have  the  burden of proving that
      -------------
Indemnitee is not entitled to indemnification or advancement of Expenses, as the
     --
case  may  be.  If  a  determination shall have been made or deemed to have been
made  that  Indemnitee  is entitled to indemnification, the Corporation shall be
bound  by  such  determination  in any judicial proceeding commenced pursuant to
this  Section  6.01,  or otherwise, unless Indemnitee knowingly misrepresented a
      -------------
material  fact  in  connection  with  the  request  for indemnification, or such
indemnification  is  prohibited  by  law.

The  Corporation  shall  be  precluded from asserting in any judicial proceeding
commenced  pursuant to this Section 6.01 that the procedures and presumptions of
                            ------------
this  Agreement  are  not valid, binding and enforceable, and shall stipulate in
any  such  proceeding  that  the  Corporation is bound by all provisions of this
Agreement.  In the event that Indemnitee, pursuant to this Section 6.01, seeks a
                                                           ------------
judicial  adjudication  to  enforce  his rights under, or to recover damages for
breach  of,  this  Agreement,  Indemnitee  shall be entitled to recover from the
Corporation,  and  shall  be indemnified by the Corporation against, any and all
Expenses  actually and reasonably incurred by him in such judicial adjudication,
but  only  if  he  prevails therein.  If it shall be determined in such judicial
adjudication  that  Indemnitee  is  entitled  to receive part but not all of the

                                        7
<PAGE>

indemnification  or  advancement  of  Expenses  sought, the Expenses incurred by
Indemnitee in connection with such judicial adjudication or arbitration shall be
appropriately  prorated.

                      7.  Participation by the Corporation
                          --------------------------------

7.01     PARTICIPATION  BY  THE  CORPORATION.  With  respect  to any such claim,
action,  suit,  proceeding  or investigation as to which Indemnitee notifies the
Corporation  of  the commencement thereof:  (a) the Corporation will be entitled
to  participate  therein  at  its  own expense; (b) except as otherwise provided
below,  to  the extent that it may wish, the Corporation (jointly with any other
indemnifying  party  similarly  notified) will be entitled to assume the defense
thereof,  with  counsel reasonably satisfactory to Indemnitee.  After receipt of
notice  from  the  Corporation to Indemnitee of the Corporation's election so to
assume  the  defense  thereof,  the Corporation will not be liable to Indemnitee
under  this  Agreement  for any legal or other expenses subsequently incurred by
Indemnitee in connection with the defense thereof other than reasonable costs of
investigation  or  as otherwise provided below.  Indemnitee shall have the right
to  employ his own counsel in such action, suit, proceeding or investigation but
the fees and expenses of such counsel incurred after notice from the Corporation
of  its  assumption of the defense thereof shall be at the expense of Indemnitee
unless  (i)  the  employment of counsel by Indemnitee has been authorized by the
Corporation,  (ii)  Indemnitee  shall  have reasonably concluded that there is a
conflict  of  interest  between the Corporation and Indemnitee in the conduct of
the  defense  of  such  action  or  (iii) the Corporation shall not in fact have
employed  counsel  to  assume the defense of such action, in each of which cases
the  fees  and  expenses  of  counsel employed by Indemnitee shall be subject to
indemnification  pursuant  to the terms of this Agreement (the Corporation shall
not  be  entitled  to  assume  the  defense  of  any action, suit, proceeding or
investigation  brought  in  the name of or on behalf of the Corporation or as to
which Indemnitee shall have made the conclusion provided for in (ii) above); and
(c)  the  Corporation  shall  not  be  liable to indemnify Indemnitee under this
Agreement  for  any  amounts  paid in settlement of any action or claim effected
without  its  written consent, which consent shall not be unreasonably withheld.
The  Corporation  shall  not settle any action or claim in any manner that would
impose  any  limitation  or  unindemnified  penalty  on  Indemnitee  without
Indemnitee's  written consent, which consent shall not be unreasonably withheld.

     8.  Miscellaneous
         -------------

8.01     NONEXCLUSIVITY  OF  RIGHTS.  The  rights  of  indemnification  and
advancement  of  Expenses  as  provided  by  this  Agreement shall not be deemed
exclusive of any other rights to which Indemnitee may at any time be entitled to
under  applicable  law,  the  Corporation's  Certificate  of  Incorporation, the
Corporation's  Bylaws,  any agreement, a vote of shareholders or a resolution of
directors,  or  otherwise.  No amendment, alteration or repeal of this Agreement
or any provision hereof shall be effective as to Indemnitee for acts, events and
circumstances  that  occurred,  in  whole  or  in  part,  before such amendment,
alteration  or  repeal.  The  provisions  of this Agreement shall continue as to
Indemnitee  whose  Corporate Status has ceased for any reason and shall inure to
the  benefit  of  his  heirs,  executors  and  administrators.

                                        8
<PAGE>

8.02     INSURANCE  AND  SUBROGATION.  The Corporation shall not be liable under
this  Agreement to make any payment of amounts otherwise indemnifiable hereunder
if, but only to the extent that, Indemnitee has otherwise actually received such
payment  under  any  insurance policy, contract, agreement or otherwise.  In the
event  of  any  payment  hereunder,  the  Corporation shall be subrogated to the
extent  of  such  payment to all the rights of recovery of Indemnitee, who shall
execute  all  papers  required  and  take all action reasonably requested by the
Corporation  to secure such rights, including execution of such documents as are
necessary  to  enable  the  Corporation  to  bring  suit to enforce such rights.

8.03     ACKNOWLEDGMENT OF CERTAIN MATTERS.  Both the Corporation and Indemnitee
acknowledge  that  in  certain  instances,  applicable  law or public policy may
prohibit  indemnification  of Indemnitee by the Corporation under this Agreement
or  otherwise.  Indemnitee understands and acknowledges that the Corporation has
undertaken  or may be required in the future to undertake, by the Securities and
Exchange  Commission,  to  submit  the question of indemnification to a court in
certain  circumstances  for  a  determination  of  the Corporation's right under
public  policy  to  indemnify  Indemnitee.

8.04     AMENDMENT.  This  Agreement  may not be modified or amended except by a
written  instrument  executed  by  or  on  behalf of each of the parties hereto.

8.05     WAIVERS.  The  observance  of  any term of this Agreement may be waived
(either  generally  or  in  a  particular  instance  and either retroactively or
prospectively)  by  the  party  entitled  to enforce such term only by a writing
signed  by  the  party  against  which  such  waiver  is to be asserted.  Unless
otherwise expressly provided herein, no delay on the part of any party hereto in
exercising  any  right,  power  or privilege hereunder shall operate as a waiver
thereof,  nor  shall  any  waiver  on the part of any party hereto of any right,
power  or  privilege  hereunder operate as a waiver of any other right, power or
privilege hereunder nor shall any single or partial exercise of any right, power
or  privilege  hereunder  preclude  any other or further exercise thereof or the
exercise  of  any  other  right,  power  or  privilege  hereunder.

8.06     ENTIRE  AGREEMENT.  This Agreement and the documents referred to herein
constitute  the  entire agreement between the parties hereto with respect to the
matters  covered  hereby, and any other prior or contemporaneous oral or written
understandings  or  agreements  with  respect  to the matters covered hereby are
superseded  by  this  Agreement.

8.07     SEVERABILITY.  If  any  provision or provisions of this Agreement shall
be  held  to be invalid, illegal or unenforceable for any reason whatsoever, the
validity,  legality  and enforceability of the remaining provisions shall not in
any  way  be  affected or impaired thereby; and, to the fullest extent possible,
the  provisions of this Agreement shall be construed so as to give effect to the
intent  manifested  by  the  provision  held  invalid, illegal or unenforceable.

                                        9
<PAGE>

8.08     CERTAIN  ACTIONS  FOR  WHICH  INDEMNIFICATION  IS  NOT  PROVIDED.
Notwithstanding  any  other provision of this Agreement, Indemnitee shall not be
entitled to indemnification or advancement of Expenses under this Agreement with
respect  to any Proceeding, or any Matter therein, brought or made by Indemnitee
against  the  Corporation.

8.09     NOTICES.  Promptly  after  receipt  by  Indemnitee  of  notice  of  the
commencement  of  any  action,  suit  or  proceeding,  Indemnitee  shall,  if he
anticipates  or  contemplates making a claim for expenses or an advance pursuant
to  the  terms  of this Agreement, notify the Corporation of the commencement of
such  action,  suit  or  proceeding;  provided,  however,  that  any delay in so
notifying the Corporation shall not constitute a waiver or release by Indemnitee
of  rights  hereunder  and  that  any  omission  by  Indemnitee to so notify the
Corporation  shall  not  relieve  the Corporation from any liability that it may
have  to  Indemnitee  otherwise  than  under  this  Agreement. Any communication
required  or permitted to the Corporation shall be addressed to the Secretary of
the  Corporation  and any such communication to Indemnitee shall be addressed to
the  Indemnitee's  address  as  shown  on  the  Corporation's records unless the
Indemnitee specifies otherwise and shall be personally delivered or delivered by
overnight  mail  delivery.  Any  such  notice  shall  be effective upon receipt.

8.10     GOVERNING  LAW.  This  Agreement  shall be construed in accordance with
and  governed  by  the  laws  of  the  State  of  Delaware without regard to any
principles  of  conflict  of  laws that, if applied, might permit or require the
application  of  the  laws  of  a  different  jurisdiction.

8.11     HEADINGS.  The  Article  and Section headings in this Agreement are for
convenience  of  reference  only, and shall not be deemed to alter or affect the
meaning  or  interpretation  of  any  provisions  hereof.

8.12     COUNTERPARTS.  This  Agreement may be executed in counterparts, each of
which  shall  be  deemed  to  be  an original and all of which together shall be
deemed  to  be  one  and  the  same  instrument.

8.13     USE  OF  CERTAIN TERMS.  As used in this Agreement, the words "herein,"
"hereof,"  and  "hereunder"  and  other  words  of  similar import refer to this
Agreement as a whole and not to any particular paragraph, subparagraph, section,
subsection, or other subdivision.  Whenever the context may require, any pronoun
used  in  this  Agreement shall include the corresponding masculine, feminine or
neuter  forms,  and the singular form of nouns, pronouns and verbs shall include
the  plural  and  vice  versa.

                                       10
<PAGE>

IN  WITNESS  WHEREOF,  this Agreement has been duly executed and delivered to be
effective  as  of  the  date  first  above  written.

                         SYNTROLEUM  CORPORATION

                         By:  --------------------------
                              Mark  A.  Agee,  President

                         INDEMNITEE

                         By:  -------------------------

                                       11
<PAGE>

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