Document:

Exhibit
No: 10.4

 

Amendment
to Sections 13.13.1 and 13.13.2 of Monitoring, Maintenance, Repair and Upgrade Agreement

 

Sections
13.13.1 and 13.13.2 of the Monitoring, Maintenance, Repair and Upgrade Agreement effective January 2, 2015 between the undersigned
parties are hereby amended as follows:

 

Section
13.13.1

 

Section
13.13.1 currently reads as follows:

 

Pilot
Program Contingency. Customer’s obligations under this Agreement shall be and hereby are contingent upon the institution,
completion by that date which is one hundred twenty (120) days after the Effective Date (which date may be extended for an additional
thirty (30) days at Customer’s option upon prior written notice to P2O), and Customer’s acceptance, in its sole discretion,
of the results of, of a pilot test program (the “Pilot Program”), whereby Customer shall utilize, on terms
mutually agreeable to P2O and Customer, P2O’s facility (the “Test Facility”) at 20 Iroquois Street, Niagara
Falls, New York (the “Pilot Program Contingency”) to ascertain Customer’s willingness to go forward with
the transactions contemplated herein, and, if so ascertained, to establish Minimum Performance Levels for the Initial Order and
using the relevant feedstock. Immediately upon the execution and delivery of this Agreement by the parties hereto, the parties
shall in good faith diligently negotiate the terms of an agreement for use of the Test Facility for the Pilot Program.

 

Section
13.13.1 is amended to read as follows:

 

Pilot
Program Contingency. Customer’s obligations under this Agreement shall be and hereby are contingent upon the institution,
completion by that date which is two hundred ten (210) days after the Effective Date (which date may be extended for an additional
thirty (30) days at Customer’s option upon prior written notice to P2O), and Customer’s acceptance, in its sole discretion,
of the results of, of a pilot test program (the “Pilot Program”), whereby Customer shall utilize, on terms
mutually agreeable to P2O and Customer, P2O’s facility (the “Test Facility”) at 20 Iroquois Street, Niagara
Falls, New York (the “Pilot Program Contingency”) to ascertain Customer’s willingness to go forward with
the transactions contemplated herein, and, if so ascertained, to establish Minimum Performance Levels for the Initial Order and
using the relevant feedstock. Immediately upon the execution and delivery of this Agreement by the parties hereto, the parties
shall in good faith diligently negotiate the terms of an agreement for use of the Test Facility for the Pilot Program.

 

    	1

    	 

    

 

Section
13.13.2

 

Section
13.13.2 currently reads as follows:

 

Financing
Contingency. Customer’s obligations under this Agreement shall be and hereby are contingent upon Customer obtaining
funding for (i) the Pilot Program on terms acceptable to Customer in its sole discretion, on or before that date which is thirty
(30) calendar days after the Effective Date, and (ii) the Initial Order and working capital in amounts and upon terms acceptable
to Customer in Customer’s sole discretion, on or before that date which is sixty (60) days after Customer’s written
notice of removal or satisfaction of the Pilot Program Contingency.

 

Section
13.13.2 is amended to read as follows:

 

Financing
Contingency. Customer’s obligations under this Agreement shall be and hereby are contingent upon Customer obtaining
funding for (i) the Pilot Program on terms acceptable to Customer in its sole discretion, on or before that date which is one
hundred twenty (120) calendar days after the Effective Date, and (ii) the Initial Order and working capital in amounts and upon
terms acceptable to Customer in Customer’s sole discretion, on or before that date which is sixty (60) days after Customer’s
written notice of removal or satisfaction of the Pilot Program Contingency.

 

All
other terms and conditions of the Monitoring, Maintenance, Repair and Upgrade Agreement shall remain the same.

 

	Dated:
    May 1, 2015	PLASTIC2OIL, INC., a Nevada corporation
	 	 	 
	 	By:	/s/
    Richard W. Heddle
	 	 	Richard
W. Heddle
	 	 	President
& CEO

 

	Dated:
    May 1, 2015	ECONAVIGATION, LLC, a New York limited liability company
	 	 	 
	 	By:	/s/
    Mark D. Ragus
	 	 	Mark
    D. Ragus
	 	 	President

 

    	2Exhibit 10.1

 

Execution Copy 

 

AMENDMENT TO MANAGEMENT SERVICES AGREEMENT

 

This Amendment, dated
as of April 30, 2015 (this “Amendment”), to that certain AMENDED AND RESTATED MANAGEMENT SERVICES AGREEMENT
(the “Services Agreement”) dated as of May 6, 2013, by and among MDC PARTNERS INC. (the “Company”),
NADAL MANAGEMENT LIMITED, (formerly Stallion Investments Limited) a corporation in which Miles Nadal is the sole shareholder
(“NML”), NADAL FINANCIAL CORPORATION, a corporation in which Miles Nadal is the sole shareholder (“NFC”),
and MILES NADAL (the “Executive”).

 

WHEREAS, NML,
NFC and the Executive provide services to the Company pursuant to the terms and conditions of the Services Agreement;

 

WHEREAS, the
parties hereto desire to amend the Services Agreement as set forth herein; 

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements set forth in this Amendment, and for other good and valuable consideration,
the parties hereby agree that the Services Agreement shall be amended by the following, effective as of September 1, 2014, and
that the Services Agreement, as hereby amended, shall continue in full force and effect as of the date of this Amendment:

 

1.Capitalized terms
used in this Amendment and not otherwise defined shall have the meaning given to such terms in the Services Agreement.

 

2.Section 22 of
the Services Agreement (Section 280G Provision) and Exhibit C of the Services Agreement are hereby deleted and deemed to be terminated,
effective immediately, and each of NML and the Executive hereby agree to waive any of the rights previously provided by the Company
pursuant to such provisions.

 

3.As used herein
and in the Services Agreement, the term “Agreement” shall mean the Services Agreement, as from time to time
amended (including, without limitation, this Amendment). Except as set forth above, the Services Agreement, as amended herein,
shall remain in full force and effect without further modification. This Amendment may be executed in one or more counterparts,
and each such counterpart shall be deemed an original instrument, but all such counterparts taken together shall constitute but
one agreement.

 

 

 

*        *        *

 

    	 

    	 

    

 

 

 

 

IN WITNESS WHEREOF,
the parties have executed this Amendment to the Management Services Agreement as of the day and year first above written.

 

 

MDC
Partners Inc.

 

By:  /s/                    

Name:

Title:

 

 

 

Nadal
Management Limited

 

By:  /s/                    

Name:

Title:

 

 

 

/s/                    

Miles
Nadal

 

 

 

Nadal
Financial Corporation

 

 

By:  /s/                    

Name:

Title:U.S. Geothermal Inc.: Exhibit 10.2 - Filed by newsfilecorp.com

AMENDMENT NO. 3 
TO 
EMPLOYMENT AGREEMENT

THIS AMENDMENT NO. 3 TO THE EMPLOYMENT AGREEMENT (the
“Amendment”) is effective as of March 31, 2015 (the “Effective Date”), by and
between U.S. Geothermal Inc., a Delaware corporation (the “Company”), and
Jonathan Zurkoff (“Employee”). 

RECITALS 

WHEREAS, the Company and Employee entered into an Employment
Agreement with a term from December 31, 2010 until March 31, 2013 (the
“Agreement”). 

WHEREAS, the Company and Employee entered into an amendment
extending the Agreement until March 31, 2014 (the “Initial Extension”). 

WHEREAS, the Company and Employee entered into an amendment
extending the Agreement until March 31, 2015 (the “Second Extension”). 

WHEREAS, the Company and Employee desire to amend and extend
the Agreement on the terms and conditions set forth below.

NOW, THEREFORE, in consideration of the
mutual covenants contained in the Agreement and this Amendment, the parties
hereby agree as follows: 

         1.  
       Term. The term of the Agreement as set
forth in Section 2 of the Agreement, is hereby extended and will remain in full
force and effect until March 31, 2016.

      
  2.          Savings
Clause. Except as modified by this Amendment, the Agreement, as previously
amended, shall remain in full force and effect, and is hereby ratified and
confirmed in all respects. 

[signature page follows]

1

IN WITNESS WHEREOF, the undersigned have executed this
Amendment on March 18, 2015. 

U.S. Geothermal Inc. 
a Delaware corporation 

	By:        	 /s/ Kerry D. Hawkley
	                
       Name: Kerry D. Hawkley 
	            
           Title: Chief Financial Officer

SIGNED by the Employee in the presence of: 

	  /s/ Amy
      Mitchell 	 	/s/
      Jonathan Zurkoff 
	Witness 	 	Jonathan Zurkoff

	 Amy
    Mitchell
	Printed Name of Witness 

2Exhibit 10.1

AMENDMENT FIVE
TO THE
TORCHMARK CORPORATION 
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN
Pursuant to Section 9.1 of the Torchmark Corporation Supplemental Executive Retirement Plan as established effective January 1, 2007 (the “Plan”), Torchmark Corporation (the “Company”) hereby amends the Plan, effective January 1, 2015 as follows:
1.Section 2.4 of the Plan is replaced in its entirety and shall read as follows:
2.4    Annual Compensation Limit shall mean the limitation imposed by Section 401(a)(17) of the Code on annual compensation which may be taken into account for purposes of computing benefits under a qualified retirement plan, including the Pension Plan.
2.    Section 3.1 of the Plan is replaced in its entirety and shall read as follows:
3.1    Eligibility Requirements.  An Employee of an Employer whose annual compensation from such Employer exceeds the Annual Compensation Limit shall become a Participant in this Plan if and when such Employee is designated by the Board (or a committee of the Board) as being eligible to participate in this Plan. 
3.    New Section 3.2 is added to the Plan and shall read as follows:
3.2    Frozen Retirement Benefit for Participants Entering the Plan Before 2015.  The Retirement Income under the Plan for a Participant whose annual compensation from an Employer for any Plan Year after the Participant entered the Plan does not exceed the Annual Compensation Limit is frozen as of the date prior to 2015 on which the Participant's Retirement Income is the highest.
4.    New Section 3.3 is added to the Plan and shall read as follows:
3.3    Frozen Retirement Benefit for Participants Entering the Plan After 2014.  An Employee who becomes a Participant after 2014 shall cease to be a Participant on the last day of the first Plan Year during which the Participant's annual compensation from an Employer does not exceed the Annual Compensation Limit.  Such Participant's Retirement Income under the Plan shall be frozen at the amount accrued as of the last day of the Plan Year immediately preceding the Plan Year during which such Employee ceased being a Participant.  
5.    Section 4.2 of the Plan is replaced in its entirety and shall read as follows:
4.2    Amount of Retirement Benefit.  The monthly amount of a Participant’s Retirement Income under this Plan in the form of a Single Life Annuity will be determined in the following manner: 
(a)    Determine the annual benefit which would be payable to the Participant as a Single Life Annuity under Article III (but not including Sections 3.1.5 and 3.4 thereof) of the Pension Plan at the Participant’s Normal Retirement Date (or Deferred Retirement Date if the Participant is retiring after his Normal Retirement Date) without applying the Annual Compensation Limit and the Section 415 Limit, 

1

provided, however, that a Participant’s Final Average Compensation, for purposes of this calculation, will be limited to $1,000,000.   The calculation made pursuant to this subsection (a) shall be made pursuant to said Article III (but not including Sections 3.1.5 and 3.4 thereof) for each Participant notwithstanding that the Participant may have his qualified retirement benefit determined under a different formula within the Pension Plan or a different qualified retirement plan, or notwithstanding that the Participant does not participate in any qualified retirement plan.  For purposes of this calculation, each Participant's compensation shall be the Participant's Compensation as defined in Article I of the Pension Plan, except that elective contributions under the Torchmark Corporation Restated Deferred Compensation Plan shall be included in the Participant's Compensation.
(b)    If the Participant is under age 65 on his or her date of retirement, (i) multiply this amount by the fraction described in Section 1.1 of the Pension Plan, then (ii) multiply this amount by the early retirement reduction factor shown below:
Age                    Factor
            
 55                       15%
 56                       30%
 57                       45%
 58                       60%
 59                       75%
 60                       90%
 61                       92%
 62                       94%
 63                       96%
 64                       98%
 65                      100%

For purposes hereof, a Participant’s “age” will be determined by the Participant’s age on his birthday immediately preceding or coincident with his date of retirement. 
(c)    Subtract from this amount the annual benefit payable to the Participant as a Single Life Annuity under the Pension Plan at the Participant’s retirement date after applying the Annual Compensation Limit and the Section 415 Limit and after applying the applicable early retirement reduction factors contained in the Pension Plan.  In the case of a Participant whose qualified retirement benefit is not calculated under the Pension Plan or a Participant who does not have a qualified retirement benefit, the amount determined under this subsection (c) shall be calculated as if the Participant were a participant in the Pension Plan for his entire career with his benefits being determined under the benefit formula contained in Section 3.1 of the Pension Plan.  In the case of a Participant whose qualified retirement benefit is calculated only in part under the Pension Plan (for example, a Participant who, for a part of his career, was covered under a qualified plan other than the Pension Plan), the amount determined under this subsection (c) shall be calculated as if the Participant were a participant in the Pension Plan for his entire career with his benefits being determined under the benefit formula contained in the Pension Plan which applied to the Participant for that part of his career in which he was a participant in the Pension Plan.
(d)    Divide the result by twelve (12).

2

(e)    The resulting amount, if any, is the monthly benefit payable under this Plan as a Single Life Annuity at the Participant’s benefit commencement date, as described in Section 4.1 above.  
(f)    A Participant who retires prior to age 55 or who has less than 10 full years of Vesting Service (as defined in the Pension Plan) will not be eligible for a benefit under this Plan.
(g)    In the case of a Participant who, at retirement or other termination of employment, is entitled to receive benefits under the Torchmark Corporation Supplementary Retirement Plan, as established effective January 1, 1983, and as restated effective January 1, 1992 (the "Prior Plan"), which are greater than the benefits payable to the Participant under this Plan, such Participant shall receive such greater benefits instead of the benefits provided under this Plan.   Otherwise, the benefits provided under this Plan are in lieu of the benefits payable under the Prior Plan, and no Participant shall be eligible to receive benefits from both the Prior Plan and this Plan.  

Done this the 30th day of April, 2015.
TORCHMARK CORPORATION

By: /s/ Carol A. McCoy
Its: Vice President, Associate Counsel &
      Corporate Secretary

3

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