Document:

SCS-05.24.2013-EX10.1

EXHIBIT 10.1 

March 8, 2013                        

PERSONAL AND CONFIDENTIAL

Ms. Sara E. Armbruster
901 44th St. SE
Grand Rapids, MI 49508

Re:  Temporary Assignment

Dear Sara,

This letter is an amendment and restatement to the letter I sent you dated August 21, 2012.  Please indicate your acceptance by signing a returning a copy to me.        

Assignment:
		
	•
	Responsibilities – This assignment relates to advanced development and is under tight disclosure rules.

		
	•
	Your title will remain the same - Vice President, WorkSpace Futures and Corporate Strategy

		
	•
	The length of the assignment is for one year from September 2012 through August 2013.  You will be working in space provided by IDEO.

Base Salary, Performance Review Process, Annual Bonus and Long-Term Incentive:
		
	•
	All of these programs will remain the same.

Relocation and Assignment Allowances:
		
	•
	Steelcase will lease a home in the Bay Area, and you and your family will be allowed to occupy the home during the length of the assignment.  This will include the following:    

		
	•
	Steelcase has leased an unfurnished home in Los Altos Hills, CA 94022 for $6,000 per month.  

		
	•
	Instead of renting furniture and other essentials, the company has purchased furnishings for the home that will remain the property of the company.  The furnishings will be sold or donated after the end of the assignment.   

		
	•
	The lease will run from June 15, 2012 to July 31, 2013.  This will allow for school registration and move-in prior to the start of the assignment.  You and your family will move into the rental home by the end of August 2012 and return from California no later than the end of August 2013.

		
	•
	Steelcase has arranged for the lease deposit and monthly payments made to the landlord in accordance with the lease agreement.

		
	•
	You will pay all monthly utility bills, and Steelcase will provide reimbursement to you through Brookfield Relocation.        

		
	•
	One home finding trip for you and one for your spouse.

		
	•
	A one-time miscellaneous relocation allowance of $10,000 to cover various settling-in expenses.

1

Ms. Sara E. Armbruster
March 8, 2013
Page 2

		
	•
	Movement of some household goods from and back to Grand Rapids up to an established budget of $10,000.

		
	•
	Airfare for you and each of your family members to relocate to and return from the new location.

		
	•
	Shipment of two personal vehicles.

		
	•
	Relocation services will be provided by Brookfield Relocation Inc. (formerly Prudential Relocation).

Other Services Provided by the Company During the Temporary Assignment:
		
	•
	Property management for your primary residence up to a maximum of $2,800 per year.  These services include security checks, lawn maintenance and snow removal.  Home repairs are not eligible expenses under this provision.

		
	•
	Steelcase will provide your spouse and children with round-trip coach class airfare to return home for the holiday season.  It’s anticipated that you will combine work travel with return trips to Grand Rapids.

		
	•
	Reimbursement for additional state and local taxes compared to your current rates in Michigan and Grand Rapids.  This includes tax preparation assistance for 2012 and 2013 tax years.  

		
	•
	Tax gross-up on taxable relocation and assignment allowances.

   
Sara, I’m looking forward to working with you during this assignment.  Please let me know if you have any questions or concerns.

Sincerely,

  /s/   James P. Hackett

James P. Hackett
President and CEO, Steelcase Inc.

I accept and agree to the terms offered in this letter.

  /s/   Sara E. Armbruster                    March 27, 2013

Sara E. Armbruster                    Date

2Manas Petroleum Corporation - Exhibit 10.1 - Filed by newsfilecorp.com

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND
REPLACED WITH “***”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED
SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT
TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934. 

 

DATED 31 December, 2012 

 

 

*** 

 

 

and 

DWM PETROLEUM AG

 

 

 

 

Relating to the sale and purchase of
80% of the
issued share capital
of *** 

TABLE OF CONTENTS 

	ARTICLE
      1 	INTERPRETATION
      	2
      
	 	 	 
	ARTICLE
      2 	SALE
      AND PURCHASE OF THE SHARES 	2
      
	 	 	 
	ARTICLE
      3 	CONDITIONS
      FOR COMPLETION AND EARLIER STEPS 	2
      
	 	 	 
	ARTICLE
      4 	INTERIM
      PERIOD 	4
      
	 	 	 
	ARTICLE
      5 	COMPLETION
      	6
      
	 	 	 
	ARTICLE
      6 	INDEPENDENT
      ACCOUNTANTS 	7
      
	 	 	 
	ARTICLE
      7 	LOANS
      AND GUARANTEES 	7
      
	 	 	 
	ARTICLE
      8 	THE
      SELLER'S WARRANTIES 	8
      
	 	 	 
	ARTICLE
      9 	PURCHASER'S
      WARRANTIES 	8
      
	 	 	 
	ARTICLE
      10 	PROTECTIVE
      COVENANTS 	8
      
	 	 	 
	ARTICLE
      11 	TAX
      	9
      
	 	 	 
	ARTICLE
      12 	CONFIDENTIALITY
      	9
      
	 	 	 
	ARTICLE
      13 	NOTICES
      	10
      
	 	 	 
	ARTICLE
      14 	FURTHER
      ASSURANCES 	11
      
	 	 	 
	ARTICLE
      15 	ASSIGNMENTS
      	11
      
	 	 	 
	ARTICLE
      16 	GENERAL
      	12
      
	 	 	 
	ARTICLE
      17 	WHOLE
      AGREEMENT 	13
      
	 	 	 
	ARTICLE
      18 	GOVERNING
      LAW 	13
      
	 	 	 
	ARTICLE
      19 	ARBITRATION
      	13
      
	 	 	 
	SIGNATORIES
      	  	14
      

	SCHEDULE 1 CORPORATE DETAILS AND INTERESTS
    
	SCHEDULE 2 MAP OF AREAS FOR WHICH SELLER WILL OBTAIN NEW
      PETROLEUM EXPLORATION RIGHT 
	SCHEDULE 3 SELLER'S WARRANTIES 
	SCHEDULE 4 LIMITS ON WARRANTY CLAIMS 
	SCHEDULE 5 SELLER’S OBLIGATIONS AND
      PURCHASER’S OBLIGATIONS AT COMPLETION 
	SCHEDULE 6 INSURANCE POLICIES 
	SCHEDULE 7 DEAL STRUCTURE 
	SCHEDULE 8 INTERPRETATION 
	 
	ANNEXURE
      1 OPTION AGREEMENT 
	ANNEXURE 2 AUDIT REPORT 
	ANNEXURE
      3 PURCHASER’S NOTICE FOR EXERCISE OF OPTION 

THIS AGREEMENT is made on 31 December, 2012 

BY AND BETWEEN: 

***a company organised under the
laws of *** whose registered office is at *** (hereinafter “Seller”); and

DWM PETROLEUM AG, a company
registered in Switzerland, having its registered office at Bahnhofstrasse 9,
Baar, Switzerland (hereinafter “Purchaser”). 

RECITALS: 

	A. 	
      That ***, a company registered in ***, which is wholly
      owned subsidiary of the Seller (hereinafter “***”) is the legal and
      beneficial owner of ***% shares in ***, a joint venture with limited
      liability incorporated under the laws of Tajikistan (hereinafter “***”),
      and the remaining ***% shares in *** are held by *** (hereinafter
      “***”).

	 	 
	B. 	
      That *** is the 100% owner of rights in petroleum
      licences for the fields in Tajikistan identified in the Schedule 1
      (hereinafter “LICENSING AGREEMENTS”). LICENSING AGREEMENTS are ***
      licences covering areas of *** pursuant to which *** has had been
      operating since ***, as successor in interest of another Tajik joint
      venture with limited liability *** known as *** (hereinafter “***”), and
      which was also partly owned by *** (hereinafter “***”) in addition to ***
      and ***.

	 	 
	C. 	
      That the Seller and the Purchaser are party to an Option
      Agreement effective 5 May 2012 (hereinafter “Option Agreement”), which is
      attached hereto as Annexure 1 of this Agreement. Under the Article 1 b of
      the Option Agreement, Seller gave an option (hereinafter “Option”) to the
      Purchaser to purchase 80% shares in a new company incorporated *** which
      would own 100% shares of *** (hereinafter “Shares”) upon payment of a
      security deposit of USD 10 million (“Security Deposit”).

	 	 
	D. 	
      That pursuant to the Option Agreement, Seller has already
      incorporated *** (hereinafter “***”) in *** as per details in Schedule 1
      hereof. On request of Purchaser, Seller has appointed a nominee of
      Purchaser, as a director of *** at the time of incorporation. Further,
      Purchaser has spent approx. USD 100,000 to assist Seller in incorporation
      of *** by paying *** share capital on behalf of Seller. Such costs shall
      hereinafter be referred to as “Purchaser’s Advance in respect of
    **”.

	 	 
	E. 	
      That pursuant to Article 1 (d) of the Option Agreement,
      Purchaser has conducted legal due diligence (hereinafter “Due Diligence”)
      regarding ***, *** and ***, and thereafter also completed an independent
      audit (hereinafter “Audit”) of all books and accounts of ***, *** and ***
      to follow-up on the concerns raised in the Due Diligence. Audit report is
      attached hereto as Annexure 2 of this Agreement.

	 	 
	F. 	
      That On October 23, 2012, pursuant to Article 1 e of the
      Option Agreement, Purchaser has exercised the Option, subject to Seller
      taking certain actions (hereinafter “Actions”) as described in Schedule A
      of its notice to exercise Option, attached hereto as Annexure 3 of this
      Agreement, to bring LICENSING AGREEMENTS and related agreements in
      order.

	 	 
	G. 	
      That pursuant to Article 1 (f) of the Option Agreement,
      Seller and Purchaser have agreed on a purchase price based on the findings
      of the Audit (hereinafter “Consideration”), and pursuant to the Option
      Agreement, the Security Deposit shall be construed as part payment towards
the Consideration. Further, Purchaser's Advance in respect of *** shall also be construed as part payment towards the Consideration. 

NOW THEREFORE, IT IS AGREED as
follows: 

ARTICLE 1 Interpretation 

	1.1 	
      In addition to terms defined elsewhere in this Agreement,
      the definitions and other provisions in the Schedule 8 apply throughout
      this Agreement, unless the contrary intention appears.

	 	 
	1.2 	
      In this Agreement, unless the contrary intention appears,
      a reference to a clause, Article or Schedule is a reference to a clause,
      Article or Schedule to this Agreement. The Schedules, Annexures and the
      Disclosure Letter accompanying this Agreement shall form integral part of
      this Agreement.

	 	 
	1.3 	
      The headings in this Agreement do not affect its
      interpretation.

ARTICLE 2 Sale and Purchase of the Shares 

	2.1 	
      Subject to the terms and conditions of this Agreement,
      Seller shall sell and procure the sale of and the Purchaser shall purchase
      and procure the purchase of the Shares at the Completion Date, but with
      effect from the Economic Date.

	 	 
	2.2 	
      The consideration for the sale of the Shares shall be USD
      21 million (the “Consideration”).

	 	 
	2.3 	
      As recited in Recital G above, it is acknowledged that
      USD 10,100,000 of the Consideration is already paid.

	 	 
	2.4 	
      Purchaser shall advance to Seller, USD 7 million
      (hereinafter “Next Advance”) within thirty (30) days of the date
      conditions mentioned in Article 3.1 below are satisfied.

	 	 
	2.5 	
      Purchaser shall make remaining payment of USD 3,900,000
      subject to any necessary downward adjustment in accordance with this
      Agreement, to Seller on the Completion Date once conditions mentioned in
      Article 3.2 are satisfied.

	 	 
	2.6 	
      All payments hereunder shall be paid by the Purchaser via
      wire transfer to the Seller’s bank account with following details under
      the name of ***:

*** 

*** 

*** 

ARTICLE 3 Conditions for Completion and Earlier Steps

	3.1 	
      Conditions for the Next Advance

	 	 
	3.1.1 	
      Purchaser has obtained the requisite approval of TSX-V
      (TSX Venture Exchange) for the transaction envisaged by this
    Agreement.

	 	 
	3.1.2 	
      *** has completed Actions other than Actions related to
      ***

*** 

2 

		*** 
	 	 
		*** 
	 	 
	3.1.3 	
      Seller has provided to Purchaser, a list of all lands
      owned or leased by *** (hereinafter “Real Estate Properties”).

	 	 
	3.1.4 	
      Seller has provided to Purchaser, Accounts as of the
      Accounts Date.

	 	 
	3.1.5 	
      Seller has provided to Purchaser, tax book value of
      assets and liabilities of *** as of the Economic Date.

	 	 
	3.1.6 	
      Seller shall place its ***%shares of *** in an escrow
      acceptable to Purchaser (hereinafter “Escrow”), for the benefit of the
      Purchaser.

	 	 
	
      3.1.7 
	
      Seller has entered into a share purchase arrangement with
      *** to purchase remaining shares *** from ***. In this regard, Seller
      shall provide to the Purchaser *** letter issued by *** confirming that
      remaining shares in *** are subject to sale.

	 	 
	3.2 	
      Conditions Precedent for Completion - Completion
      is conditional upon, and subject to, the fulfilment or waiver (pursuant to
      Clause 3.3) of the following conditions (hereinafter “Conditions
      Precedent”).

	 	 
	3.2.1 	
      Seller has purchased remaining shares in *** from ***,
      and subsequently transferred 100% interests in *** to ***, in the manner
      described as Step 2 and 3 in the contemplated deal structure described in
      Schedule 7 of this Agreement.

	 	 
	3.2.2 	
      Transfer of 100% shares in *** to *** has been registered
      in all official registers in Tajikistan.

	 	 
	3.2.3 	
      Seller has provided an affidavit certifying that *** has
      no claim against Seller, in respect of section 4.1.2 of the Audit Report,
      and if in future a claim arises from *** in respect of ***, Seller shall
      settle it at its own cost and expense.

	 	 
	3.2.4 	
      Purchaser’s accountants (BDO Tajikistan), at ***’s
      expense, have audited all books and accounts of *** in line with
      international standards and issued an unqualified opinion.

	 	 
	3.2.5 	
      *** Seller has provided to Purchaser, a list of employees
      of *** that it expects as of Completion Date.

	 	 
	3.2.6 	
      the receipt of the requisite Government Approval to the
      sale and purchase of the Shares in so far as required; and

	 	 
	3.2.7 	
      the receipt of the Economic Date Accounts by the
      Purchaser.

	 	 
	3.2.8 	
      Seller has obtained a letter from *** which states that
      *** - to allow *** to obtain financing from international sources. (In
      this regard, Purchaser shall provide to ***, a draft letter addressed to
      ***, which it will prepare in consultation with ***, its local counsel in
      Republic of Tajikistan).

	 	 
	3.2.9 	
      Scope of the LICENSING AGREEMENTS ***, which is more
      fully described in the map attached hereto as Schedule 2 of this
      Agreement.

	 	 
	3.2.10 	
      *** has completed Actions related to
  ***.

3 

	3.2.11 	
      Seller and Purchaser have agreed on the Environmental
      Baseline pursuant to Schedule 3, clause 1.12 (b).

	 	 
	3.3 	
      The Seller and the Purchaser shall use all reasonable
      endeavours to procure or seek waiver regarding the fulfilment of the
      Conditions for the Next Advance and the Conditions Precedent as soon as
      reasonably practicable after the signing of this Agreement. Purchaser
      shall also notify Seller regarding the process and current status of
      obtaining the requisite approval of TSX-V (TSX Venture
Exchange).

	 	 
	3.4 	
      Refund

	 	 
	3.4.1 	
      If the Conditions Precedent are not fulfilled or, to the
      extent applicable, waived on or before the date falling 120 days after the
      date of this Agreement, this Agreement shall cease to have effect, (except
      for the obligations in Articles 12, 18 and 19 and neither of the Parties
      (provided it shall have used reasonable endeavours as aforesaid) will,
      save in relation to any accrued rights or obligations as at such date,
      have any rights or liabilities under this Agreement. In such case, Seller
      shall refund to Purchaser, USD 17,100,000 (being Security Deposit,
      Purchaser’s Advance in respect of *** and Next Advance, all of which is
      already paid by such time) less a penalty of USD2 million as a
      compensation of the Seller’s expenses within 365 days of the date of
      signing of this Agreement.

	 	 
	3.4.2 	
      If Purchaser fails to advance Next Advance to Seller,
      within the time period stipulated in Article2.4 above, where Seller duly
      performed all actions stipulated in the Articles 3.1.2-3.1.7 of this
      Agreement, the Seller must refund to Purchaser, USD10,100,000 (being
      Security Deposit and Purchaser’s Advance in respect of *** all of which is
      already paid by such time) by delivering within reasonable period to
      Purchaser, 65% shares of *** (which is owner of ***% shares of ***), which
      are placed in Escrow for the benefit of Purchaser, as specified in clause
      3.1.6 of this Agreement. In the above case, on account of transfer of 65%
      shares of *** (which is owner of ***% shares of *** at that time)
      Purchaser shall also pay to Seller, additional amount of USD 2 million (as
      a compensation of the Seller’s expenses) within 365 days from the date of
      signing of this Agreement. If at the time of the aforementioned delivery
      of 65% shares of *** to Purchaser, *** owns more than ***% shares of ***,
      then Purchaser shall pay to Seller, additional amount corresponding to
      shares more than ***% shares of *** (calculated on the assumption that 80%
      shares of ***, if *** owns100% shares of ***, are worth USD***), within
      365 days from the date of signing of this Agreement or accept pro-rata
      reduction in the number of deliverable shares of *** in order to
      re-establish status quo.

	 	 
	3.4.3 	
      If Conditions for Next Advance are not satisfied to the
      satisfaction of Purchaser, within 90 days of the signing of this
      Agreement, and consequently transaction envisaged by this Agreement is not
      Completed, then Seller shall refund to Purchaser, USD10,100,000 (being
      Security Deposit and Purchaser’s Advance in respect of ***, all of which
      is already paid by such time) less a penalty of USD2 million as a
      compensation of Seller’s expenses, within 365 days of the date of signing
      of this Agreement.

	 	 
	3.5 	
      Seller shall send a copy of the Government Approvals to
      the Purchaser promptly following receipt thereof and notify the Purchaser
      of the Completion Date once the Conditions Precedent have been fulfilled
      or waived.

ARTICLE 4 Interim Period 

	4.1 	
      The Seller shall procure that, between the date of this
      Agreement and Completion, the Companies shall:

4 

	4.1.1 	
      carry on business in the ordinary course and meet their
      obligations under the LICENSING AGREEMENTs;

	 	 
	4.1.2 	
      conduct their affairs in relation to the Interest in
      accordance with applicable laws, the LICENSING AGREEMENTs and good
      industry practice;

	 	 
	4.1.3 	
      continue to meet all expenditures and receive all income
      relating to the Interest;

	 	 
	4.1.4 	
      maintain or cause to be maintained in force any insurance
      which the Companies hold or which is held on their behalf as at the date
      of this Agreement as described in Schedule 6 of this Agreement and make
      and diligently pursue claims which can be made under such
  policies;

	 	 
	4.1.5 	
      keep proper accounting records and in them make true and
      complete entries of all dealings and transactions in relation to their
      business and afford to the Purchaser full access thereto;

	 	 
	4.1.6 	
      engage an independent accounting firm to audit annual
      financial statements or review interim period financial statements, given
      year end or period end fall into the Interim Period;

	 	 
	4.1.7 	
      promptly notify the Purchaser of any law suits, claims,
      legal proceedings or governmental investigations which may occur, be
      threatened, brought, asserted or commenced against the Companies or the
      Operator involving or affecting the Interest.

	 	 
	4.1.8 	
      keep the Purchaser informed and consult with the
      Purchaser in respect of all material facts, matters and things relating to
      the Companies and the Interest and all material operations carried out
      there under;

	 	 
	4.1.9 	
      not exercise any rights in respect of material matters
      under the relevant LICENSING AGREEMENTs or relating to the Interest,
      except in a case of emergency, without first obtaining the Purchaser’s
      consent,

	 	 
	4.1.10 	
      as soon as possible following any material decision made
      under the LICENSING AGREEMENTs, or relating to any of the Interest ,
      notify the Purchaser of that decision; and

	 	 
	4.1.11 	
      not without the Purchaser’s prior written approval amend
      or terminate any of the LICENSING AGREEMENTs.

Without prejudice to the generality of the foregoing provisions
of this Clause 4, the Seller shall, between the date of this Agreement and
Completion, procure that the Companies shall keep the Purchaser informed of the
making of any payments for amounts greater than the equivalent of USD10,000 (or
its equivalent in foreign currency). 

	4.2 	
      Between the date of this Agreement and Completion the
      Seller shall procure that, unless consented to by the Purchaser, the
      Companies shall not nor shall they agree to:

	 	 
	4.2.1 	
      allot or issue (whether by way of option over shares or
      the issue of any rights convertible into shares or otherwise) any shares
      in their capital;

	 	 
	4.2.2 	
      create, or agree to create, any Encumbrance over any
      shares,

	 	 
	4.2.3 	
      make any alteration to their deed of incorporation
      including the articles of association;

	 	 
	4.2.4 	
      dispose, or agree to dispose or grant any option or right
      in respect of the Interest;

5 

	4.2.5 	
      discontinue or cease to operate all or a material part of
      their business;

	 	 
	4.2.6 	
      make any change in the nature of their
business;

	 	 
	4.2.7 	
      enter into, amend or terminate any Major
  Contract;

	 	 
	4.2.8 	
      approve any work programs or budgets; or

	 	 
	4.2.9 	
      sell or transfer any assets of the Companies other than
      those which would normally be made in the usual conduct of its
      business;

	 	 
	4.2.10 	
      give notice of or otherwise institute any sole risk
      operations or agree to surrender any area covered by the LICENSING
      AGREEMENTs;

	 	 
	4.2.11 	
      declare or pay any dividend or other distribution or
      repay any share premiums. These provisions do not include restriction on
      distribution of retained profit of *** for paying dividends which were
      accumulated before Economic Date;

	 	 
	4.2.12 	
      perform or omit any act which would cause a breach of any
      Major Contract of the Companies;

	 	 
	4.2.13 	
      make any capital commitment, borrowing or expenditure
      other than those which would normally be made in the usual conduct of its
      business;

	 	 
	4.2.14 	
      execute any document amending, waiving or cancelling any
      provision of the LICENSING AGREEMENTs.

	 	 
		
      For purposes of this Clause 4, a matter is “material” if
      it is entailing financial impacts exceeding USD 10,000 (or its equivalent
      in foreign currency).

ARTICLE 5 Completion 

Completion shall occur at the office of Seller, not later than
the seventh Business Day after the notification by the Seller pursuant to
Article 3.5 above that the Conditions Precedent have been fulfilled. 

	5.1 	
      At Completion:

	5.1.1 	
      the Seller shall do or procure to be done those things
      set out in Part 1of the Schedule 5, provided that the Seller shall be the
      custodian of all closing documentation;

	 	 
	5.1.2 	
      the Purchaser shall do or procure to be done those things
      set out in Part 2 of Schedule 5; and

	 	 
	5.2 	
      As soon as reasonably practicable, but in any case within
      twenty (20) Business Days after Completion, the Purchaser undertakes to
      the Seller that it shall (a) record the transfer of the Shares in the
      share register book of ***, (b) register or file all matters in connection
      with Completion which are required or necessary to register or to file
      with the Ministry of Energy and Industry, Republic of Tajikistan,
      including but not limited to the change of directors of the Companies, and
      the filing of the new shareholders list of the Companies, and (c) notify
      the relevant banks and effect the change of authorised signatories in
      connection with the banking facilities of the Companies. Upon completion
      of all the registrations and notifications described above, the Purchaser
      shall as soon as reasonably practicable notify the Seller, and provide the
      Seller with reasonably satisfactory evidence of such registration, filing,
      and notification, as the case may.

6 

	5.3 	
      Within twenty (20) Business Days of the Completion Date,
      Parties shall with mutual agreement, make following appointments in
      respect of ***:

	 	• 	Management team. 
	 	• 	Legal advisors. 
	 	• 	Auditor. 

	5.4 	
      Within twenty (20) days of the Completion Date, Parties
      shall enter into a fully termed Shareholders Agreement (“SHA“), containing
      inter alia following provisions:

	 	• 	Number of Directors: 4 Purchaser, 1 Seller.
  
	 	• 	Chairperson shall be nominee of Purchaser.
  
	 	• 	Governing law shall be laws of England, UK.
  

ARTICLE 6 Independent Accountants 

	6.1 	
      If any matters are reserved for determination by
      Independent Accountants:

	6.1.1 	
      the Independent Accountants shall be instructed
  to:

	 	 	 
		a) 	
      make its determination within the shortest practicable
      time following referral of the matter to the Independent
  Accountant;

	 	 	 
		b) 	
      prescribe the procedure to be followed by the parties in
      order to facilitate determination; and

	 	 	 
		c) 	
      submit the determination in writing to the Seller and the
      Purchaser.

	6.1.2 	
      the Seller and the Purchaser shall:

	 	 	 
		a) 	
      notify the Independent Accountants in writing of the
      matters reserved for determination and each provide (and to the extent
      they are reasonably able procure that their respective accountants, and
      the Purchaser shall procure that ***, provide) the Independent Accountants
      promptly, and in any event within ten (10) Business Days of the
      Appointment Day, with all information which they may reasonably require
      and the Independent Accountants shall be entitled (to the extent they
      consider it appropriate) to base their opinion on such information and on
      the accounting and other records of ***; and

	 	 	 
		b) 	
      accept the determination of the Independent Accountants
      (in the absence of manifest error) as final and binding;

	 	 	 
		c) 	
      the Independent Accountants shall act as experts and not
      as arbitrators; and

	 	 	 
		d) 	
      the costs of the determination, including fees and
      expenses of the Independent Accountants, shall be borne equally by the
      Seller and the Purchaser.

ARTICLE 7 Loans and Guarantees 

	7.1 	
      The parties acknowledge that the Consideration has been
      agreed on the basis that no indebtedness of any kind (regardless of
      whether presently payable) is owed by any member of the Seller’s Group to
      the Companies or from the Companies to the Seller’s Group, other
    than:

	 	 	 
		(a) 	
      any amounts which may be due or become due by way of
      trade credit in the ordinary course of trading as a result of goods or
      services supplied on normal arm's length terms;

	 	 	 
		(b) 	
      any amounts which may fall to be paid pursuant to any
      express provision of this Agreement or any of the documents required to be
      executed or delivered pursuant to the provisions of this
  Agreement;

	 	 	 
		(d) 	
      any amounts provided for in connection with service
      agreements with Affiliates of the Seller during the Interim Period;
    and

7 

	 	(e) 	
      any amounts provided for in the Economic Date
      Accounts.

	7.2 	
      The Seller shall procure that on Completion, Companies
      are released from all guarantees and indemnities given by it in respect of
      any liability or obligation of any member of the Seller’s Group, or
      alternatively if such releases are not granted, Seller shall defend,
      indemnify and hold harmless Purchaser’s Group against any and all claims
      arising out of such guarantees and indemnities. Purchaser shall ensure
      after the Completion Date that Seller’s Group is released from all
      guarantees and indemnities given by it in respect of any liability or
      obligation of the Companies; or, alternatively, if such releases are not
      granted, Purchaser shall defend, indemnify, and hold harmless Seller’s
      Group against any and all claims arising out of such guarantees and
      indemnities.

ARTICLE 8 the Seller's Warranties 

	8.1 	
      The Seller represents and warrants to the Purchaser that,
      except as disclosed to the Purchaser in the Disclosure Letter, as of the
      date of this Agreement and such representations shall be deemed to be
      repeated immediately prior to Completion, each of the statements set out
      in the Schedule 3 is true and accurate.

	 	 
	8.2 	
      The liability of the Seller in connection either with the
      Warranties, and any Warranty Claim, shall be subject to the limitations
      contained in, and to the other provisions ofSchedule4 of this
      Agreement.

	 	 
	8.3 	
      Any payment made by the Seller in respect of a Warranty
      Claim brought by the Purchaser shall: be reduced by the amount of any
      savings in Taxation enjoyed by the Purchaser, and/or its Affiliates, or
      *** in connection with the circumstances which gave rise to the
    claim.

	 	 
	8.4 	
      If the Purchaser becomes aware of a matter which is
      likely to give rise to a Warranty Claim, the Purchaser shall give notice
      of the relevant facts to the Seller as soon as reasonably practicable
      after becoming aware of those facts and in any event within thirty (30)
      days of becoming aware of those facts.

ARTICLE 9 Purchaser's Warranties 

The Purchaser warrants to the Seller that each of the
statements set out below is true and accurate in all material respects: 

	9.1 	
      Purchaser is a corporation validly existing under the
      laws of Switzerland, with the requisite power and authority to enter into
      and perform, and has taken all necessary corporate action to authorise the
      execution and performance of, its obligations under this
  Agreement;

	 	 
	9.2 	
      this Agreement constitutes valid and binding obligations
      of the Purchaser;

	 	 
	9.3 	
      other than as contemplated by this Agreement, no notices,
      reports or filings are required to be made by the Purchaser in connection
      with the transactions contemplated by this Agreement, nor are any
      consents, approvals, registrations, authorisations or permits required to
      be obtained by the Purchaser in connection with the execution and
      performance of this Agreement; and

ARTICLE 10 Protective Covenants 

	10.1 	
      The Seller covenants with the Purchaser that it shall not
      and shall procure that no member of the Seller’s Group shall without the
      Purchaser’s consent (except as required by law or any competent regulatory
      body, including the applicable rules of any stock exchange) disclose
    or divulge to any third party any material information of a
      secret or confidential nature relating exclusively to the business or
      affairs of Companies, except to the extent the information has entered the
      public domain other than by reason of an unauthorised act or default of
  the Seller.

8 

	10.2 	
      The Purchaser covenants with the Seller that it shall not
      and shall procure that no member of the Purchaser’s Group shall without
      the Seller’s consent (except as required by law or any competent
      regulatory body, including the applicable rules of any stock exchange)
      disclose or divulge to any third party any material information of a
      secret or confidential nature relating exclusively to the business or
      affairs of the Companies that has been disclosed to it pursuant to this
      Agreement, except to the extent the information has entered the public
      domain other than by reason of an unauthorised act or default of the
      Purchaser.

ARTICLE 11 Tax 

	11.1 	
      The Seller shall be liable for any Taxation liabilities
      of the Companies and/ or the Interest for periods up to the Economic Date
      and shall indemnify and hold harmless the entity of the Purchaser’s Group
      against which any such Taxation liability is levied.

	 	 
	11.2 	
      It is agreed that the Seller and the Purchaser shall each
      be responsible for the payment of its own taxes, duties or other charges
      deriving from the transfer under this Agreement in accordance with the
      laws, rules and regulations of Tajikistan or other applicable laws,
      provided that any stamp duty related to the registration process of the
      transaction or transfer of shares envisaged by this Agreement owing under
      the laws, rules and regulations of Tajikistan shall be the responsibility
      of and paid by the Purchaser.

ARTICLE 12 Confidentiality 

	12.1 	
      Subject to Article 12.4, neither the Seller nor the
      Purchaser shall make (or permit any other member of the Seller’s Group or
      the Purchaser's Group to make) any announcement concerning this sale and
      purchase or any ancillary matter before Completion, and on and thereafter
      without the prior written consent of the other parties, the same not to be
      unreasonably withheld.

	 	 	 
	12.2 	
      The Purchaser, each member of the Purchaser’s Group, its
      lawyers and other professional consultants shall:

	 	 	 
		(a) 	
      keep confidential all information provided to it by or on
      behalf of the Seller or otherwise obtained by or in connection with this
      Agreement which relates to any member of the Seller’s Group;

	 	 	 
		(b) 	
      if after Completion, Purchaser holds confidential
      information relating to the Seller’s Group, it shall keep that information
      confidential and, to the extent reasonably practicable, other than
      information as may be reasonably required by the Purchaser to retain for
      legal, tax or financial/accounting purposes, shall return that information
      to the Seller or destroy it, in each case without retaining copies;
    and

	 	 	 
		(c) 	
      in respect of any Excluded Records which the Purchaser
      may receive or be in possession of, the Purchaser agrees to hold the same
      in strict confidence, not to disclose them to any third party and not to
      use them for any purpose whatsoever. To the extent that the Purchaser
      becomes aware that it is possession of Excluded Records in written or
      other tangible form (including information stored electronically), the
      Purchaser agrees as soon as reasonably practicable to return to the Seller
      or destroy such information, or cause such information to be returned to
      the Seller, in each case at the Seller's sole
discretion.

9 

	12.3 	
      The Seller, each member of the Seller Group, its lawyers
      and other professional consultant shall:

	 	 	 
		(a) 	
      keep confidential all information provided to it by or on
      behalf of the Purchaser or otherwise obtained by or in connection with
      this Agreement which relates to any member of the Purchaser's Group;
      and

	 	 	 
		(b) 	
      if after Completion, the Seller, each member of the
      Seller Group, its lawyers and other professional consultants hold
      confidential information relating to the Companies, they shall keep that
      information confidential and, other than the Excluded Records or as may be
      required by Seller to retain for legal, tax, or financial/accounting
      purposes, shall return that information to the Purchaser or destroy it, in
      each case without retaining copies.

	 	 	 
	12.4 	
      Nothing in this clause prevents any announcement being
      made or any confidential information being disclosed:

	 	 	 
		(a) 	
      with the written approval of the other parties, which in
      the case of any announcement shall not be unreasonably withheld or
      delayed; or

	 	 	 
		(b) 	
      to the extent required by law, stock exchange regulations
      or any competent regulatory body, but a party required to disclose any
      confidential information shall promptly notify the other party, so far as
      practicable and lawful with regard to timing, content and other
      requirements of such law, stock exchange regulations or regulatory body,
      before disclosure occurs and co-operate with the other party regarding the
      timing and content of such disclosure.

	 	 	 
	12.5 	
      Nothing in this clause prevents disclosure of
      confidential information by any party:

	 	 	 
		(a) 	
      to the extent that the information is in or comes into
      the public domain other than as a result of a breach of any undertaking or
      duty of confidentiality by that party; or

	 	 	 
		(b) 	
      to that party's professional advisers, lawyers, auditors
      or bankers, but before any disclosure to any such person the relevant
      party shall procure that he is made aware of the terms of this clause and
      shall use its best endeavours to procure that such person adheres to those
      terms as if he were bound by the provisions of this
  clause.

ARTICLE 13 Notices 

	13.1 	
      Any notice given in connection with this Agreement must
      be in English. Any other document provided in connection with this
      Agreement must be in English or accompanied by a certified English
      translation; in this case, the English translation prevails unless the
      document is a statutory or other official document.

	 	 
	13.2 	
      Any notice or other formal communication given under this
      Agreement must be in writing (which includes fax, but not email) and may
      be delivered or sent by courier or fax to the party to be served as
      follows:

10 

	(a)      to the Seller at: 	(b)      to the
      Purchaser at: 
	  	  
	*** 	Bahnhofstr. 9 
	 	 
	*** 	6341 Baar, Switzerland 
	 	 
	*** 	E-Mail: Wladwein@Manaspetroleum.Com 
	 	 
	E-Mail: 	Attention: Dr. Werner Ladwein 
	*** 	  
	 	 
	Attention: *** 	  

or at such other address or fax number
as it may have notified to the other party in accordance with this clause. 

	13.3 	
      Any notice or other formal communication shall be deemed
      to have been given:

	 	 	 
		(a) 	
      if delivered personally, at the time of delivery;
    or

	 	 	 
		(b) 	
      if sent via courier, at 10.00 a.m. on the fourth Business
      Day after it was accepted by the courier company for delivery;
or

	 	 	 
		(c) 	
      if sent by fax, provided the fax is in readable form, on
      the date of transmission, if transmitted before 3.00 p.m. on any Business
      Day, and in any other case on the Business Day following the date of
      transmission, with a copy of the notice or other communication also sent
      by post.

	 	 	 
	13.4 	
      In proving service of a notice or other formal
      communication, it shall be sufficient to prove that delivery was made or
      that the envelope containing the communication was properly addressed and
      despatched via courier, as the case may be or that the fax was properly
      addressed and successful transmission electronically confirmed, as the
      case may be.

ARTICLE 14 Further Assurances 

	14.1 	
      In relation to ***, the Seller shall procure the
      convening of all meetings, the giving of all waivers and consents and the
      passing of all resolutions as are necessary under the applicable laws
      dealing with private limited companies, its articles of association, or
      any agreement or obligation affecting it to give effect to this
      Agreement.

	 	 
	14.2 	
      On or after Completion, the parties shall, at their own
      cost and expense, execute and do (or procure to be executed and done by
      any other necessary party) all such deeds, documents, acts and items as
      may from time to time be reasonably required in order to give full effect
      to all the transactions or activities contemplated under this
      Agreement.

ARTICLE 15 Assignments 

	15.1 	
      Each Party may assign the benefit of this Agreement to
      any member of its Group and if it does so:

11 

	 	(a) 	
      the assignee may enforce the obligations of the other
      Party (including the Warranties given by the Seller) under this Agreement
      as if it had been named in this Agreement as a Party ;

	 	 	 
	 	(b) 	
      each Party may nevertheless enforce this Agreement
      against the other Party, as if that assignment had not occurred;

	 	 	 
	 	(c) 	
      the assignment shall not in any way operate so as to
      increase or reduce the respective rights and obligations on the part of
      the assigning Party or its assignee on the one hand and the other Party on
      the other hand; and

	 	 	 
	 	(d) 	
      where applicable, if the assignee ceases to be a member
      of the Seller’s Group or the Purchaser's Group, the Seller or the
      Purchaser as the case may be shall procure that the benefit of this
      Agreement is re-assigned to the Seller or the Purchaser as the case may be
      or another member of the Seller’s Group or the Purchaser's
  Group.

	15.2 	
      Except as permitted by this clause, none of the rights or
      obligations under this Agreement may be assigned or transferred by a Party
      without prior approval of the other Party.

ARTICLE 16 General 

	16.1 	
      Each of the obligations, warranties and undertakings set
      out in this Agreement (excluding any obligation which is fully performed
      at Completion) shall continue in force after Completion.

	 	 	 
	16.2 	
      Unless otherwise agreed between Purchaser and Seller, if
      the Purchaser or Seller defaults in the payment when due of any sum
      payable under this Agreement, (howsoever determined) its liability shall
      be increased to include interest on such sum from the date when such
      payment is due until the date of actual payment (as well as before
      judgment) at a rate per annum of LIBOR plus one percent. Such interest
      shall accrue from day to day.

	 	 	 
	16.3 	
      Each party shall pay the costs and expenses incurred by
      it in connection with the entering into and completion of this
      Agreement.

	 	 	 
	16.4 	
      In addition to the provisions of Schedule 4, the
      Purchaser shall make available to the Seller any books or records of
      Companies (or, if practicable, the relevant parts of those books or
      records) which are required by the Seller for the purpose of dealing with
      its corporate, tax, or reporting obligations or affairs and, accordingly,
      the Purchaser shall, upon being given reasonable notice by the Seller and
      subject to the Seller giving such undertaking as to confidentiality as the
      Purchaser shall reasonably require, procure that such books and records
      are made available to the Seller for inspection during working hours and
      copying at the Seller’s expense for and only to the extent necessary for
      such purpose and for a period of six years from Completion.

	 	 	 
	16.5 	
      This Agreement may be executed in any number of
      counterparts. This has the same effect as if the signatures on the
      counterparts were on a single copy of this Agreement.

	 	 	 
	16.6 	
      The rights of each party under this Agreement:

	 	 	 
		(a) 	
      may be exercised as often as necessary;

	 	 	 
		(b) 	
      are cumulative and not exclusive of rights and remedies
      provided by law; and

	 	 	 
		(c) 	
      may be waived only in writing and
  specifically.

12 

		
      Delay in exercising or non-exercise of any such right is
      not a waiver of that right.

	 	 
	16.7 	
      Except as expressly stated in this Agreement, a person
      who is not a party to this agreement may not enforce any of its terms
      under the Contracts (Rights of Third Parties) Act 1999.

	 	 
	16.8 	
      This Agreement will only be signed in English. However,
      an unofficial translation of this Agreement in Russian shall be initialled
      by the Seller. In case of any conflict, this official English version of
      the Agreement shall prevail.

ARTICLE 17 Whole Agreement 

	17.1 	
      This Agreement and the documents referred to in it
      contain the whole agreement between the parties relating to the
      transactions contemplated by this Agreement and supersede all previous
      agreements between the parties relating to these transactions.

	 	 
	17.2 	
      Each party acknowledges that in agreeing to enter into
      this Agreement it has not relied on any representation, warranty,
      collateral contract or other assurance (except those set out in this
      agreement) made by or on behalf of any other party before the signature of
      this Agreement. Each party waives all rights and remedies which, but for
      this Article, might otherwise be available to it in respect of any such
      representation, warranty, collateral contract or other
  assurance.

ARTICLE 18 Governing Law 

This Agreement is governed by and shall be construed in
accordance with laws of England and Wales without giving effect to any choice of
law principles thereof which would result in the application of the laws of
another jurisdiction. 

ARTICLE 19 Arbitration 

All disputes arising out of or in connection with this
Agreement shall be finally settled under the UNCITRAL arbitration rules by three
(3) arbitrators appointed in accordance with the said rules. The place of
arbitration shall be London, UK. The language of the arbitration shall be
English. 

THIS AGREEMENT HAS BEEN SIGNED BY THE PARTIES (OR THEIR DULY
AUTHORISED REPRESENTATIVES) ON THE DATE STATED AT THE BEGINNING OF THIS
AGREEMENT. 

13 

SIGNATORIES 

	Seller 	  	  
	 	 	 
	 	 	 
	*** 	*** 	  
	  	  	....................................... 
	  	  	  
	DWM PETROLEUM AG 	  	  
	 	 	 
	 	 	 
	Signed by 	) 	  
	for 	) 	.../s/ Dr. Werner Ladwein..................
  

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND
REPLACED WITH “***”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED
SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT
TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934. 

ANNEXURE 1 – OPTION AGREEMENT 

1 

Effective May 5, 2012 

 

 

OPTION AGREEMENT 

BETWEEN 

*** 

and 

DWM PETROLEUM AG

 

 

 

Relating to the Option for the sale and purchase
of
80% of the issued share capital
of a Company that would
hold 100% shares in *** 

 

 

 

 

 

2 

THIS OPTION AGREEMENT(“Option
Agreement”) is made effective as of May 5, 2012 

BETWEEN: 

	(1) 	
      *** a company organised under the laws of ***
      whose registered office is at ***; and

	 	 
	(2) 	
      DWM PETROLEUM AG, a company registered in
      Switzerland, having its registered office at Bahnofstrasse 9, Baar,
      Switzerland (referred to herein as the “DWM”).

	 	 
		
      BACKGROUND:

	A. 	
      *** owns 100% of the issued share capital of ***, a
      company registered in *** (hereinafter “***”).

	 	 
	B. 	
      *** is the legal and beneficial owner of ***% shares in
      ***, a joint venture with limited liability incorporated under the laws of
      Tajikistan (hereinafter “***”), and the remaining ***% shares in *** are
      held by *** company of Tajikistan (hereinafter “***”) .

	 	 
	C. 	
      A Tajik joint venture with limited liability *** known as
      *** which is *** (hereinafter “***”), is legal owner of rights in ***
      licences for the *** identified in the Schedule A hereof (hereinafter
      “Licenses”), and, Seller, *** and *** are taking necessary steps to
      ***.

	 	 
	D. 	
      DWM desires to purchase 80% shares in a Swiss company
      that owns 100% shares in ***, and has therefore requested *** to purchase
      remaining shares of *** in such a manner that *** is owned 100% by a new
      company.

	 	 
	E. 	
      *** is willing to incorporate a new company in
      Switzerland (hereinafter “Newco”) and take actions necessary for
      transferring 100% shares of *** in NewCo.

	 	 
	F. 	
      *** is also willing to give DWM an option to purchase 80%
      shares in NewCo which would own 100% shares in ***.

	 	 
	G. 	
      *** is also willing to allow DWM to conduct legal due
      diligence and audit of *** and ***, respectively, to facilitate DWM’s
      decision regarding exercise of such option.

	 	 
		
      NOW THEREFORE, *** AND DWM AGREE as
  follows:

	 	1. 	
      *** and DWM shall take following actions:

	 	 	 	 	 
	 		a. 	
      *** shall incorporate NewCo in Switzerland.

	 	 	 	 	 
	 		b. 	
      DWM shall pay to ***, a refundable security deposit of
      USD 10 million (“Security Deposit”), via wire transfer in ***’s bank
      account, in three (3) instalments on or before following dates, for an
      option to purchase 80% shares in Newco (“Option”):

	 	 	 	 	 
	 			i. 	
      US$ 5 million on or before May 31, 2012

	 	 	 	 	 
	 			ii. 	
      US$ 2 million on or before July 15, 2012.

	 	 	 	 	 
	 			iii. 	
      US$ 3 million on or before August 24,
  2012

3 

	 	c. 	
      DWM shall engage a reputable local law firm to conduct
      legal due diligence (hereinafter “Due Diligence”) regarding *** and
      ***.

	 	 	 
	 	d. 	
      Once Due Diligence is completed, DWM shall engage
      reputable international accounting firm to conduct an independent audit
      (hereinafter “Audit”) of all books and accounts of *** and *** to
      follow-up on the concerns raised in the Due Diligence.

	 	 	 
	 	e. 	
      DWM may exercise the Option, within one (1) month of the
      completion of Audit.

	 	 	 
	 	f. 	
      If DWM exercises the Option, *** and DWM shall negotiate
      a Share Purchase Agreement (hereinafter “SPA”) pursuant to which *** shall
      sell and DWM shall purchase 80% shares in NewCo, for a purchase price to
      be agreed between *** and DWM based on the findings of the Audit
      (hereinafter “Purchase Price”). Once the SPA is signed, Security Deposit
      shall be construed as the first payment made under the SPA, and the
      remaining payment shall be due within thirty (30) days
  thereafter.

	 	 	 
	 	g. 	
      In case, DWM does not exercise the Option following
      completion of the Audit, DWM shall request *** in writing within one (1)
      month of the completion of the Audit, to return Security Deposit to DWM,
      and *** shall refund Security Deposit via wire transfer in DWM’s bank
      account on or before December 31, 2012.

	 	2. 	
      Once SPA is signed, in accordance with the SPA, *** and
      DWM shall take following actions:

	 	 	 	 	 
	 		a. 	
      *** shall seek requisite approvals of the Government for
      following actions:

	 	 	 	 	 
	 			i. 	
      To transfer EPA’s entire shares in *** (i.e. ***%), to
      NewCo.

	 	 	 	 	 
	 			ii. 	
      To purchase remaining ***% shares in *** from *** and
      thereafter transfer such shares to NewCo.

	 	b. 	
      *** shall notify DWM as soon as the requisite approvals
      of the Government stipulated in para 2 a i are obtained.

	 	 	 	 
	 	c. 	
      *** shall transfer ***’s entire shares in *** (i.e.
      ***%), to NewCo.

	 	 	 	 
	 	d. 	
      Within ten (10) days of ***’s transfer of ***’s entire
      shares in *** (i.e. ***%), to NewCo, *** and DWM shall take following
      simultaneous actions:

	 	 	 	 
	 		i. 	
      DWM shall make a payment of Purchase Price minus Security
      Deposit minus US$ 1 million

	 	 	 	 
	 		ii. 	
      *** shall place 80% shares of NewCo in escrow with an
      escrow agent to be mutually agreed.

	 	 	 	 
	 	e. 	
      *** shall purchase remaining ***% shares in *** from ***
      and thereafter transfer such shares to NewCo.

	 	 	 	 
	 	f. 	
      *** and DWM shall close the transaction envisaged under
      the SPA, which shall inter alia include following simultaneous
    actions:

4 

	 	i. 	
      payment by DWM to *** of Purchase Price minus payments
      already made i.e. US$ 1 million, and

	 	 	 
	 	ii. 	
      transfer by the escrow agent to DWM of 80% of shares in
      NewCo.

	 	3. 	
      Unless required by applicable laws or securities
      regulations, neither *** nor DWM shall make the existence or contents of
      this Option Agreement public.

	 	 	 
	 	4. 	
      This Option Agreement shall be governed by the laws of
      England & Wales, and any dispute if not resolved amicably shall be
      resolved via international arbitration under the arbitration rules of the
      International Chamber of Commerce. Venue of arbitration shall be
    ***.

IN WITNESS WHEREOF this Option Agreement has been signed by the
parties (or their duly authorised representatives) effective as of May 5, 2012

 

	*** 	DWM PETROLEUM AG 
	  	  
	  	  
	Name: 	Name: Dr Werner Ladwein 
	Title: 	Title: President 

5 

SCHEDULE A 

*** owns 100% interests in *** onshore Tajikistan and related
assets, including following ***: 

-                            
*** 

6 

CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND
REPLACED WITH “***”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED
SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT
TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934. 

ANNEXURE 3 – PURCHASER’S NOTICE FOR EXERCISE OF OPTION

1

(printed on DWM letterhead) 

	*** 	  
	 	 
	*** 	  
	 	 
	*** 	Baar, October 23, 2012 
	 	 
	*** 	  

	Attention: 	***, General Manager 
	  	  
	
      Subject: 
	
      Notice for exercise of Option under the Option
      Agreement effective May 5, 2012 relating to the option for the sale
      and purchase of 80% of the issued share capital of a Swiss company
      that would hold 100% shares in ***, a Tajik company (hereinafter
      “Option Agreement”). 

Dear ***, 

Pursuant to Article 1 e of the Option Agreement, DWM Petroleum
AG (“DWM”) is pleased to exercise the Option (as defined in the Option
Agreement), subject to *** taking certain actions as described in detail in
Schedule A hereof (hereinafter “Actions”), to *** (as defined in the Option
Agreement) and related agreements in order. 

Kindly let us know if you have any questions regarding the
above notice. 

Sincerely yours, 

Dr. Werner Ladwein 
President 

2

SCHEDULE A 

Actions to be taken by *** to re-issue all documents related to
*** under the name of existing *** from the name of *** with the same name) 

Now that all *** have been re-issued under the name of ***
(“***”), *** must also ensure that all documents related to the *** are
re-issued under the name of ***. In particular following documents have to be
re-issued under the name of ***:

	1) 	
      ***

	 	 
	2) 	
      ***

	 	 
	3) 	
      ***; and

	 	 
	4) 	
      ***

These requirements are also stipulated in *** (Section “***”).

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}]]