Document:

Exhibit 10.1

 

Assignment Agreement

 

This agreement (“Agreement”) is entered into by
and between Neonode Inc. (“Neonode”), a Delaware corporation with a place of business at 2880 Zanker
Road, Suite 362, San Jose, CA 95134, and Aequitas Technologies LLC (“Aequitas”), a California limited
liability company with its principal place of business at 2561 Park Avenue, Laguna Beach, CA 92651. Neonode and Aequitas shall
be collectively referred to as Parties or individually as a Party. The effective date of this Agreement shall be the date on which
the last Party executes (“Effective Date”).

 

WHEREAS, Neonode is the sole and exclusive owner of the US and
non-US patents and patent applications listed in Exhibit A attached hereto (“Patents”);

 

WHEREAS, Aequitas is in the business of monetizing patents;

 

WHEREAS, Neonode would like to assign the Patents to Aequitas
for monetization, and Aequitas desires to have the Patents assigned to it and to monetize the Patents; and

 

THEREFORE, in consideration of the promises and mutual covenants
contained herein and for good and other valuable consideration, Neonode and Aequitas agree as follows:

 

1. Assignment of Patents and Monetization Efforts

 

		a.	Neonode hereby assigns to Aequitas, and Aequitas hereby accepts from Neonode, all right, title, and interest in and to the
Patents, including any and all inventions claimed and discoveries claimed in the Patents, any and all legal rights held by Neonode
includes the rights to sue and collect damages for past, present, and future infringement of any and all of the Patents, to collect
royalties under the Patents, to prosecute all existing Patents worldwide, to apply for additional patent applications claiming
priority from the Patents worldwide, to have patents issue in the name of Aequitas, and to practice any invention covered by the
Patents.

 

		b.	Neonode further hereby assigns to Aequitas and Aequitas hereby acquires and accepts from Neonode all right, title and interest
in, to and under all causes of action and enforcement rights, whether known or unknown, currently pending, filed, or otherwise,
for the Patents, including all rights to pursue damages, injunctive relief and other remedies for past, current, and future infringement
of the Patents. To the extent permissible by law, Neonode hereby transfers all rights to assert any work product and attorney client
privilege that related exclusively to the prosecution and enforcement of the Patents and embodied or contained in the prosecution
history files transferred pursuant to this Agreement.

 

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		c.	Aequitas hereby agrees to monetize the Patents as follows: 1) to identify, select, negotiate with, and engage law firm(s) for
legal representation in licensing and enforcement (“Litigation Counsel”) and a third-party investor, if necessary,
to finance any costs and fees associated with licensing and enforcement (“Investor”), 2) to identify, investigate and
document potential infringers with Litigation Counsel, 3) to plan and manage licensing and enforcement effort with Litigation Counsel,
and 4) to negotiate settlement and license agreements with defendants and licensees. Neonode shall execute and deliver to Aequitas
the Assignment attached as Exhibit B within thirty (30) days of the Effective Date. From time to time, Neonode shall execute further
instruments and take such other actions as may be reasonably requested by Aequitas to vest or confirm title to the Patents in Aequitas
as contemplated by the assignment under this Agreement.

 

		d.	Within thirty (30) days of the Effective Date, or later if so requested by Aequitas, Neonode shall ship, at Aequitas’
expense, to Aequitas or Litigation Counsel, via Federal Express or other reliable overnight and trackable delivery service, the
executed originals or certified copies of the Assignment at Exhibit B, along with all material, non-privileged files and documents
in the possession of Neonode regarding the Patents, which may include to the extent available (i) Letters Patents, (ii) assignments
for the Patents, (iii) documents and materials evidencing dates of invention, including dates of conception and reduction to practice,
(iv) prosecution history files for all issued, pending, or abandoned Patents, (v) current electronic copy of docket report for
the Patents accurately setting forth to the best of Neonode’s knowledge any and all dates relevant to the prosecution and/or
maintenance of the Patents. Within thirty (30) days of the Effective Date, or later if so requested by Aequitas, Neonode shall
use reasonable efforts to ship at Aequitas’ expense to Aequitas or Litigation Counsel any material privileged documents that
relate directly or exclusively to a Patent. However, Neonode shall not be obligated to transfer any privileged documents that related
to Neonode’s valuation or evaluation of the Patents (individually or collectively), or Neonode’s monetization options
or plans for the Patents, such as privileged documents related to the execution of this Agreement or negotiations preceding this
Agreement. Notwithstanding anyting else to the contrary, Neonode shall only be obliged to transfer the files and documents that
are: (i) actually in possession of Neonode, (ii) able to be located by Neonode using reasonable diligence, and (iii) associated
with the file of a Patent in the ordinary course of business. The above shipping expenses shall be considered “Costs”
under Section 2.

 

		e.	Within thirty (30) days of the Effective Date, Neonode shall promptly inform any patent agents of the transfer of ownership
of the Patents. Neonode and Aequitas shall work together in recording the assignment of the Patents at the USPTO and other Patent
Offices. Aequitas shall be entirely and solely responsible for all third party costs or charges incurred by Neonode at Aequitas
request for the transfer and assignment activities at the USPTO and other Patent Offices under this Section 1, which shall be considered
Costs as defined in Section 2.

 

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		f.	Subject to the foregoing assignment of the Patents, Aequitas hereby grants to Neonode a non-exclusive, royalty-free, perpetual
license under the Patents to make, have made, use, import, export, distribute, offer for sale sell, or have sold, any products
and services which meet all the limitations of any claim of any Patent whether directly, contributorily, or by inducement (“Licensed
Product”), including for Neonode to practice any method, service, process, or procedure related thereto in each case for
the lives of the Patents, but with no right to grant sublicenses. In the event that Neonode makes, have made, uses, imports, offers
for sale or sells such products or services, Neonode agrees to mark such products or services with the applicable patent numbers.
For the avoidance of doubt, the foregoing license shall extend to any system or product of a third party that includes a Licensed
Product where such third party product or system would not infringe a Patent but for the inclusion therein of a Licensed Product.
Notwithstanding the foregoing, Neonode agrees that it will not sell products or services that interfere with Aequitas’ efforts
to monetize the Patents to an Exclusive Party, wherein an “Exclusive Party” is a) an infringer of one or more of the
Asserted Patents (as defined below), b) a party with whom Aequitas and/or Litigation Counsel has initiated discussions for monetization
of the Asserted Patents, or c) a declaratory judgment plaintiff or an infringement defendant under one or more of the Asserted
Patents.

 

		g.	Neonode may transfer its rights under this section 1e and 1f to a third party (i) in connection with the sale or other disposition
by Neonode of a product line, business unit, division or subsidiary of Neonode to which the Patents related, or (ii) to the extent
necessary to enable Neonode to make, have made, import, reproduce, sell, or distribute Licensed Products, provided that Neonode
informs Aequitas of such transfer in advance and the transferee agrees to be bound by the terms of this Agreement.

 

		h.	Any transfer of ownership or resale of the Patents by Aequitas must be made subject to being bound by this Agreement.

 

2. Consideration and Payment Terms

 

In consideration of the Assignment executed by this Agreement,
Neonode shall receive fifty percent (50%) of Net Proceeds as defined below:

 

“Total Recoveries” shall mean all cash and non-cash
consideration received by Aequitas from monetizing the Patents, including but not limited to all licensing and enforcement activities
relating to or in connection with the Patents, or any royalties or other fees, payments or income receipts, damages, or other compensatory
payments received related to the purchase, licensing, use or enforcement of the Patents.

 

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“Costs” shall mean all out of pocket costs and expenses
incurred (without any allocation among Exclusive Parties) with third parties by Aequitas or Litigation Counsel in connection with
monetizing the Patents, including without limitation:

 

		a.	fees and costs of consultants, experts and Investor,

		b.	reasonable travelling and lodging expenses,

		c.	duplicating, stenographer, postage, courier and similar expenses,

		d.	court costs, and

		e.	legal and other costs incurred in defending any action or counterclaim with respect to the Patents and any inter partes review
proceeding before the Patent Trial and Appeal Board.

 

Costs shall not include, for example, Aequitas’ internal
costs of managing the Patents or overhead, including compensation for employees, consultants, officers, principals, or shareholders
of Aequitas, or any affiliate of Aequitas, or any management or internal costs in connection with records, accounting, calculating,
reporting or paying any Costs and Net Proceeds.

 

“Litigation Counsel Fees” shall mean Litigation
Counsel fees (whether on an hourly or contingent basis and whether for general, litigation or local counsel, including paralegal)
in connection with monetizing the Patents.

 

“Net Proceeds” shall mean Total Recoveries less
Costs and Litigation Counsel Fees.

 

Aequitas shall distribute Total Recoveries in the following
order of priority: first to Litigation Counsel for its Costs and Litigation Counsel Fees, then to Aequitas for its Costs, then
50% of Net Proceeds to Aequitas and 50% of Net Proceeds to Neonode. The Parties agree to negotiate in good faith the fair value
of any non-cash consideration before distribution hereunder.

 

Total
Recoveries payable to Neonode shall be due within fourteen (14) calendar days of each receipt of Total Recoveries by Aequitas.
In the event that Total Recoveries are paid to a trust account maintained on Aequitas’
behalf by Litigation Counsel, Litigation Counsel shall be directed to distribute to Aequitas and Neonode accordingly. Total
Recoveries shall be paid in United States dollars. Any payments to Neonode shall be made by wire transfer to:

 

Bank: [            ]

Bank Address: [                 ]

Account Name: Neonode Inc.

Account Number: [                ]

ABA No.: [                ]

 

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For each receipt or distribution of Total Recoveries, Aequitas
shall provide Neonode with a summary of itemized Costs, Total Recoveries, Litigation Counsel Fees, and Net Proceeds. In addition,
Aequitas shall provide periodic expense reports as received from Litigation Counsel as well as upon Neonode’s request. Neonode
shall have the right to audit Aequitas’ Costs and Litigation Counsel Fees once a year.

 

3. Neonode Representations and Warranties

 

Neonode represents and warrants to Aequitas that as of the Effective
Date:

 

		a.	Neonode is the sole and exclusive owner of the Patents and has all right, title, interest arising from such ownership of each
of the Patents, free and clear of any liens, security interests, encumbrances, or restrictions on transfer, and including the right
to sue for past, present, and future infringement thereof.

 

		b.	The identity of all inventors of the inventions described in the Patents has been fully disclosed to the US Patent and Trademark
Office as required by law, and Neonode has obtained previously executed assignments or other documents effective for conveyance
of legal title for each of the Patents. Neonode either has or will properly record or cooperate to have the assignment recorded
with any appropriate patent office or governmental authority as necessary to perfect Neonode’s rights and title to each of
the Patents.

 

		c.	There has been no assignment, license, cross-license, transfer or conveyance of any rights, title, claims, interest or privileges
with respect to the Patents to any third party, and the Patents are not subject to any covenant not to sue.

 

		d.	The Patents are not and have not been subject to any action or proceeding concerning their infringement, validity, enforceability,
inventorship or ownership.

 

		e.	Neonode has no knowledge of any facts that could give rise to a claim that the Patents are invalid or unenforceable; and Neonode
has not engaged in any conduct or omitted to perform any necessary act, the result of which could invalidate the Patents or preclude
their enforceability (including collection of past damages).

 

		f.	Neonode has all requisite legal and corporate power and authority to enter into this Agreement, to consummate the transactions
contemplated hereby, and to carry out and perform its obligations hereunder.

 

		g.	The execution, delivery, performance of and compliance with this Agreement has not resulted and will not result in any violation
of, or conflict with or constitute a default under or give rise to a right of termination, cancellation, or acceleration of any
obligation or loss of any benefit under any agreement to which Neonode is a party.

 

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4. Aequitas Representations and Warranties

 

Aequitas represents and warrants to Neonode that as of Effective
Date:

 

		a.	Aequitas has all requisite legal and corporate power and authority to enter into this Agreement, to consummate the transactions
contemplated hereby, and to carry out and perform its obligations hereunder;

 

		b.	The execution, delivery, performance of and compliance with this Agreement has not resulted and will not result in any violation
of, or conflict with or constitute a default under or give rise to a right of termination, cancellation, or acceleration of any
obligation or loss of any benefit under any agreement to which Aequitas is a party.

 

5. Enforcement of Patent Rights

 

		a.	Aequitas shall use good faith effort to perform services described in Section 1. Aequitas shall attempt to negotiate licenses
with companies that Litigation Counsel determines are infringing the Patents. Notwithstanding the foregoing, Aequitas may terminate
this Agreement at any time by sending written notice to Neonode and assigning the Patents back to Neonode if Aequitas determines
in its sole judgment that licensing or enforcement of the Patents is commercially unreasonable, unlawful or illegal.

 

		b.	During the term of this Agreement, Aequitas shall pay all patent maintenance fees and prosecution costs and fees for any of
the Patents (including continuations, divisions, re-issues and ex parte re-examinations, if applicable) that are actually asserted
or enforced against one or more Exclusive Parties by Litigation Counsel (“Asserted Patents”). Such fees and costs shall
be considered Costs under Section 2. To the extent that Aequitas decides not to prosecute or maintain any non-Asserted Patents,
Aequitas shall notify Neonode in advance so that Neonode, in its sole discretion and expense, may elect to pay for maintenance
and/or prosecution of such non-Asserted Patents.

 

		c.	Aequitas shall have sole discretion to determine whether to assert or pursue infringement of, or settle infringement claims
relating to the Patents, and to determine whether and to whom to license the Patents. The Parties agree to cooperate with each
other in any matters concerning monetization of the Patents, including for example, Neonode, upon written request, executing and
delivering to Aequitas any other documents and materials, and taking any further actions, including taking reasonable action to
obtain cooperation of named inventors and to provide access to inventors and employees of Neonode, that are reasonably necessary
for Aequitas to perfect its title in and to assert the Patents.

 

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6. Term and Termination

 

		a.	The term of this Agreement will commence on the Effective Date and will continue in full force and effect until the date of
expiration of the last of the Patents, unless earlier terminated by the Parties as provided herein.

 

		b.	Neonode may terminate this Agreement during the first thirty (30) day period after one (1) year from the Effective Date unless
Aequitas has a) filed an action or counterclaim for infringement of one or more of the Patents in a U.S. Federal District Court
of appropriate and proper jurisdiction and venue, against at least one entity known to infringe one or more of the Patents, b)
generated Total Recoveries, or c) engaged in defending the validity of one or more of the Patents. In the event of such termination,
Aequitas shall promptly assign the Patents back to Neonode through an assignment in a form similar to that of Exhibit B.

 

		c.	Any termination of this Agreement shall not relieve Aequitas of liability for any payments due to Neonode based on Total Recoveries.
After termination, Aequitas shall be entitled to receive its unreimbursed Costs and 50% of Net Proceeds which 1) accrued or was
received prior to the termination date, 2) accrues or is received after the termination date as a result of any settlement, license
agreement or other agreement or transaction that was negotiated, made or occurred prior to the termination date, or 3) resulted
from any lawsuit or negotiations that were pending at or prior to the occurrence of such termination. In addition, if Neonode uses
or continues to use, after Neonode’s termination of the Agreement, for licensing or enforcement of the Patents, Litigation
Counsel or Investor introduced or arranged by Aequitas during the term of this Agreement, Aequitas shall also be entitled to full
payments (pursuant to Section 2) under all Total Recoveries received or accrued after termination as if this Agreement has not
terminated.

 

		d.	Neonode may immediately terminate the Agreement by providing written notice of intent to terminate 1) if Aequitas becomes bankrupt
or insolvent, ceases its business operations, or makes an assignment for the benefit of creditors, or 2) if Aequitas becomes in
arrears on any payments due under the Agreement and fails to make the payments within 30 days of receiving written notice from
Neonode, subject to Neonode’s confirmation with Litigation Counsel that such termination shall not create any standing issues
in any pending infringement lawsuit.

 

7. Assignment

 

Neonode may transfer or assign its interest in this Agreement,
provided that the transferee or assignee is not deemed to be an infringer by Litigation Counsel and agrees to be bound by the terms
of this Agreement. Aequitas may transfer or assign this Agreement to an affiliate, provided that such affiliate controls, is controlled
by or is under common control with Aequitas and agrees to be bound by the terms of this Agreement.

 

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8. Choice of Law

 

This Agreement shall be governed by the laws of the State of
California, without reference to conflict of laws principles. The Parties hereby irrevocably consent to the exclusive jurisdiction
of the state and federal courts located in Orange County, California for any action, suit or proceeding arising out of or relating
to this Agreement.

 

9. Indemnification

 

		a.	Indemnification by Aequitas. Aequitas shall hold harmless, defend, and indemnify Neonode, its officers, directors, employees
and assigns from and against any liability, damage, loss or expense (including reasonable attorney’s fees and expenses of
litigation) claims, demands, or causes of action that a court has ruled is caused by, arising out of, or resulting from any breach
of any representation or warranty by Aequitas under this Agreement.

 

		b.	Indemnification by Neonode. Neonode shall hold harmless, defend, and indemnify Aequitas, its officers, directors, employees
and assigns from and against any liability, damage, loss or expense (including reasonable attorney’s fees and expenses of
litigation) claims, demands, or causes of action that a court has ruled is caused by, arising out of, or resulting from any breach
of any representation or warranty by Neonode under this Agreement.

 

10. Limitation of Liability

 

Neonode acknowledges that Aequitas has made no representation
or warranty whatsoever regarding the probable outcome of any licensing or enforcement effort and has in no way guaranteed any Total
Recoveries from such effort.

 

Except in the case of fraud or breach of Confidentiality requirements,
no party shall be liable for any indirect, punitive, special, incidental or consequential damages in connection with or arising
out of this Agreement or for loss of profits or any other economic loss, however it arises and under any theory of liability, whether
in an action for contract, warranty, strict liability, tort (including negligence) or otherwise, regardless of whether the Parties
have been advised about the possibility of such damages or loss and notwithstanding the failure of essential purpose of any remedy.

 

11. Relationship between the Parties

 

The Parties are not employees or legal representatives of the
other Party for any purpose. Neither Party shall have the authority to enter into any contracts in the name of or on behalf of
the other Party. This Agreement shall not constitute, create, or in any way be interpreted as a joint venture, partnership, or
business organization of any kind.

 

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12. Confidentiality

 

		a.	Except as may be required by applicable law, regulation or any listing agreement with any applicable securities exchange or
an order of a Governmental Authority of competent jurisdiction, during the term of this Agreement and for two (2) years after
the termination hereof, each Party agrees to keep secret and confidential all non-public information of the other Party or its
affiliates (“Confidential Information”), to use such Confidential Information solely for the purposes contemplated
under and in compliance with this Agreement and to take reasonable measures to protect the secrecy of and avoid unauthorized use
or disclosure of Confidential Information. Confidential Information does not include that information which (i) was, is now,
or becomes generally available to the public or the industry (but not as a result of a breach of any duty of confidentiality by
which such Party is bound), or (ii) was disclosed to such Party by a third party not subject to any duty of confidentiality
with respect to such information. “Governmental Authority” means any supranational, international, federal, state,
local, municipal, provincial, territorial, foreign or other governmental or quasi-governmental authority or self-regulatory organization
of any nature (including any agency, branch, department, board, commission, court, tribunal or other entity exercising governmental
or quasi-governmental powers) exercising, or entitled or purporting to exercise, any administrative, executive, judicial, legislative,
enforcement, regulatory or taxing authority or power.

 

		b.	The Parties acknowledge that in connection with the execution of this Agreement, Neonode may issue a press release and file
a Form 8-K with the Securities and Exchange Commission. Notwithstanding anything to the contrary set forth in this Agreement, nothing
contained herein will prohibit any Party from disclosing any information which is (i) required under applicable law, regulation,
including without limitation the federal securities laws, (ii) any listing agreement with any applicable national securities exchange,
or (iii) an order of a Governmental Authority of competent jurisdiction.

 

		c.	Subject to the foregoing provisions in Sections 12a and 12b, the parties hereby designate all information concerning the fact
that Neonode has a financial interest in Total Recoveries as the Confidential Information of Neonode, and Aequitas shall have the
confidentiality obligations imposed by this Section 12 with respect to such information.

 

		d.	The Parties agree that they have a common, joint and mutual legal interest in cooperating with each other by sharing Confidential
Information protected by the attorney-client privilege and the work product doctrine (hereinafter “Common Interest Materials”).
The sole purpose for the exchange of Common Interest Materials is to support the Parties’ common legal interest in business
opportunities involving the Patents, including litigation involving one or more of such Patents. The Parties intend that any Common
Interest Materials exchanged shall continue to be protected under all applicable privileges and protections and no such exchange
shall constitute a waiver of any applicable privilege or protection.

 

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13. Severability

 

If any term or provision of this Agreement is held to be invalid,
illegal or unenforceable in any respect under any applicable laws, such term or provision shall be deemed omitted herein, and the
validity, legality and enforceability of the remaining terms and provisions shall not be affected or impaired thereby.

 

14. Counterparts

 

This Agreement may be executed in several counterparts. A faxed
or emailed copy of a signature page shall be considered an original for purposes of this Agreement.

 

15. Survival

 

Sections 2, 3, 4, 6, 8, 9, 10, 11, 12, 13, 14, 15, and 16 shall
survive the termination of this Agreement.

 

16. Entire Agreement; Modification

 

This Agreement reflects the complete understanding of the parties
regarding the subject matter of the Agreement and supersedes any prior agreement or understanding, written or oral, relating to
the subject matter of the Agreement. In the event of any inconsistency between the statements in this Agreement, the documents
to be delivered hereunder, and the related exhibits and schedules (other than an exception expressly set forth as such in the related
exhibits), the statements in this Agreement shall control. This Agreement may be modified after the Effective Date only by a written
amendment that expressly references this Agreement and that is signed by an authorized officer of each party.

 

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IN WITNESS WHEREOF, the Parties have executed this Agreement
as of the date set forth below.

 

	NEONODE	 	AEQUITAS
	 	 	 
	By:	                	 	By:	                  
	 	 	 
	Name:	 	Name:
	 	 	 
	Title:	 	Title:
	 	 	 
	Date:	 	Date:

 

    11

     

    

 

Exhibit A

 

Family #1 Touch Screen Sweep Gesture 

1: US Patent No. 8,095,879

2: US Patent No. 8,650,510

3: US Patent No. 8,812,993

4: US Patent No. 10,088,975

5: US Patent Publication No. 2019/0042067 A1 (patent pending)

6: US Patent No. 9,164,654

7: US Patent Publication No. 2016/0098189 A1 (patent pending)

 

Family #2 Touch Disambiguation

1: US Patent No. 7,880,732

2: US Patent No. 8,068,101

3: US Patent No. 8,692,806

4: US Patent No. 9,684,413

5: US Patent Publication No. 2017/0308245 A1 (patent pending)

6: Australian Patent No. 2002349625

7: Canadian Patent No. 2,472,354

8: Chinese Patent No. 1276338

9: Japanese Patent No. 4046689

10. Singapore Patent No. 109029

 

    12

     

    

 

Exhibit B

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    13

     

    

 

ASSIGNMENT

 

WHEREAS, Neonode Inc., a Delaware corporation (“Assignor”)
is the owner of the entire right, title, and interest of the U.S. and non-U.S. Patents listed in Exhibit 1 attached hereto;

 

AND WHEREAS, Aequitas Technologies LLC, a California
limited liability company (hereafter, together with any successors, legal representatives or assigns thereof, called “Assignee”)
wants to acquire the entire right, title and interest in and to said patents and applications listed in Exhibit I attached hereto,
and all the inventions therein, and Assignor is willing to enter into such assignment.

 

NOW, THEREFORE, effective on __________________________,
2019 and in exchange for good and valuable consideration the receipt of which from Assignee is hereby acknowledged, Assignor has
sold, assigned, transferred and set over, and does hereby sell, assign, transfer and set over to Assignee the entire right, title
and interest in and to said patents and applications listed in Exhibit I attached hereto, and all patents, patent applications,
foreign patents, foreign patent applications, continuations, continuations-in-part, divisionals, extensions, renewals, reissues
and re-examinations related to all inventions thereof, including without limitation, all rights to claim priority on the basis
thereof, all rights to sue for past, present and future infringement, including the right to collect and receive any damages, royalties,
or settlements for such infringements, all rights to sue for injunctive or other equitable relief, and any and all causes of action
relating to any of the inventions or discoveries thereof;

 

Assignor hereby covenants that it has full right to convey
the entire interest herein assigned, and that it has not executed, and will not execute, any agreement in conflict with this Assignment;

 

Assignor hereby further covenants and agrees that it
will communicate to Assignee any and all facts known to it respecting said patents, and testify in any legal proceeding, sign all
lawful papers, execute and deliver all papers and take any actions that may be necessary or desirable to perfect the title to any
aforementioned patents and inventions, execute all divisional, continuation, reexamination, reissue and substitute applications,
and make all rightful oaths and generally do everything possible to aid Assignee to obtain and enforce proper patent protection
for said inventions in all countries.

 

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IN TESTIMONY WHEREOF, I hereunto set my hand this __
day of ______________, 2019.

 

	 	Neonode Inc.
	 	(Assignor)
	 	 	 
	 	By	                  
	 	Name	 
	 	Title	 

 

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Exhibit I

 

Family #1 Touch Screen Sweep Gesture 

1: US Patent No. 8,095,879

2: US Patent No. 8,650,510

3: US Patent No. 8,812,993

4: US Patent No. 10/088,975

5: US Patent Publication No. 2019/0042067 A1 (patent pending)

6: US Patent No. 9,164,654

7: US Patent Publication No. 2016/0098189 A1 (patent pending)

 

Family #2 Touch Disambiguation

 

1: US Patent No. 7,880,732

2: US Patent No. 8,068,101

3: US Patent No. 8,692,806

4: US Patent No. 9,684,413

5: US Patent Publication No. 2017/0308245 A1 (patent pending)

6: Australian Patent No. 2002349625

7: Canadian Patent No. 2,472,354

8: Chinese Patent No. 1276338

9: Japanese Patent No. 4046689

10. Singapore Patent No. 109029

 

 

16Exhibit 101 - CIC Agreement

		
			
		

		
			Exhibit 10.1
		

		
			﻿
		

		
			CHANGE IN CONTROL AGREEMENT
		

		
			THIS CHANGE IN CONTROL AGREEMENT (the “Agreement”), effective as of _________, 2019 (the “Effective Date”), is made and entered into by and between VAALCO Energy, Inc., a Delaware corporation (hereafter “Company”) and _________ (hereafter “Employee”). The Company and Employee may sometimes hereafter be referred to singularly as a “Party” or collectively as the “Parties.”
		

		
			W I T N E S S E T H:
		

		
			WHEREAS, the Company desires to provide certain benefits to Employee in the event of a termination of employment following a Change in Control (defined below) subject to the terms and conditions hereafter set forth; and
		

		
			WHEREAS, Employee is willing to enter into this Agreement upon the terms and conditions hereafter set forth;
		

		
			NOW, THEREFORE, in consideration of the mutual promises, covenants and obligations contained herein, the Parties hereby agree as follows:
		
RIGHTS AND PAYMENTS UPON TERMINATION FOLLOWING A CHANGE IN CONTROL
		
			.
		
Rights and Payments
		
			.  Employee’s right to compensation and benefits for periods after the date on which his employment terminates with the Company and all Affiliates (the “Termination Date”) shall be determined in accordance with this Article 1, as follows:
		

		
			Minimum Payments.  Employee shall be entitled to the following minimum payments under this Section 1.1(a), in addition to any other payments or benefits to which he is entitled to receive under the terms of this Agreement or any employee benefit plan or program:
		

		
			his accrued and unpaid Base Salary through the Termination Date;
		

		
			his accrued and unused vacation days through the Termination Date; and
		

		
			reimbursement of his reasonable business expenses that were incurred but unpaid as of the Termination Date.
		

		

		

		 

 

		Such salary and accrued vacation days shall be paid to Employee within five (5) Business Days following the Termination Date in a cash lump sum less applicable withholdings.  Business expenses shall be reimbursed in accordance with the Company’s normal policy and procedures.
		

		
			Termination Benefits.  In the event that Employee incurs a CIC Severance Payment Event, the following severance benefits shall be provided to Employee hereunder or, in the event of his death before receiving all such benefits, to his Designated Beneficiary following his death:
		

		
			Additional Payment.  The Company shall pay to Employee as additional compensation (the “Additional Payment”), an amount equal to one hundred percent (100%) of Employee’s Base Salary and seventy-five percent (75%) of Target Bonus as in effect as of the Termination Date.
		

		
			The Company shall make the Additional Payment to Employee over a six-month period in twelve, substantially equal bi-monthly payments that begin within twenty (20) days following the Termination Date.  The payment of any Additional Payment shall be made in accordance with, and subject to, the Release requirements of Section 1.3 and the Company's standard payroll procedures.
		

		
			The Company shall delay payments pursuant to Section 2.1 to the extent required to comply with the requirements of Code Section 409A.  If Employee is a “specified employee” within the meaning of Code Section 409A, then payment of the Additional Payments otherwise payable during the first six (6) months following the Termination Date shall be deferred for six (6) months following the Termination Date (in accordance with Section 2.1) and such aggregate amount shall be paid within ten (10) days following the expiration of such 6-month period. 
		

		
			In the event of Employee’s death prior to the payment of all installments of the Additional Payment as provided above, the remaining installment payments shall be aggregated and paid in a single sum payment to the Employee’s Designated Beneficiary within sixty (60) days from Employee’s date of death.
		

		
			Continued Group Health Plan Coverage.  The Company and its Affiliates shall maintain continued group health plan coverage following the Termination Date under any of the Company’s group health plans that covered Employee immediately before the Termination Date which are subject to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, as codified in Code Section 4980B and Part 6 of Subtitle B of Title I of ERISA (“COBRA”), for Employee and his eligible spouse and other dependents (together, “Dependents”), for a period of six (6)  months following the Termination Date and at no cost to Employee and his Dependents.
		

		

		

		 

 

		Outplacement Assistance:  The Company shall provide the Employee outplacement assistance for a period of six (6) months.  
		

		
			After the Termination Date, Employee, and his Dependents, if any, must first elect and maintain any COBRA continuation coverage under such plan that they are entitled to receive under the terms of such plan and COBRA.  However, Employee and his Dependents shall not be required to make any premium payments for the portion of any such COBRA coverage period that does not extend beyond the maximum three-month period referenced above.  In all other respects, Employee and his Dependents shall be treated the same as other COBRA qualified beneficiaries under the terms of such plan and the requirements of COBRA during the period while COBRA coverage remains in effect. 
		

		
			The continuation coverage described above shall be provided in a manner that is intended to satisfy an exception to Code Section 409A, and therefore not be treated as an arrangement providing for nonqualified deferred compensation that is subject to taxation under Code Section 409A.
		

		
			Nothing in this Agreement shall be construed as giving the Employee any right to be retained in the employ of the Company or any of its Affiliates or shall interfere in any way with the right of the Company to terminate the Employee’s employment at any time, with or without Cause.
		
Limitation on Other Severance Benefits
		
			.
		

		
			Limitation on Other Severance Payments.  For purposes of clarity, in the event that (i) Employee voluntarily resigns or otherwise voluntarily terminates his own employment during the Term of Employment, (ii) Employee’s employment is terminated due to a No Severance Benefits Event, or (iii) Employee’s employment is terminated for any reason outside of a CIC Window Period then, in any such event under clause (i), (ii) or (iii), the Company shall have no obligation to provide the severance benefits described in subsections (i) and (ii) of Section 1.1(b), except to offer COBRA coverage (as required by COBRA) but not at the discounted rate as described in Section 1.1(b)(ii).  Employee shall still be entitled to receive the severance benefits provided under Section 1.1(a).
		

		
			No Duplication of Severance Benefits.  Notwithstanding Section 1.1, if Employee receives or is entitled to receive any severance benefit under any change of control policy, or any agreement with, or plan or policy of, the Company or any Affiliate, the amount payable under Section 1.1(b) to or on behalf of Employee shall be offset by such other severance benefits received by Employee, and Employee shall thus be entitled to receive the greater of such other severance benefits or the benefits provided under this Agreement, and not any duplicate benefits.  The severance payments provided under this Agreement shall also supersede and replace any duplicative severance benefits under any severance pay plan or program that the Company or any Affiliate maintains for 
		

		 

 

		employees generally and that otherwise may cover Employee, including the VAALCO Energy, Inc. Severance Plan, dated effective August 21, 2015.
		
Release Agreement
		
			.  In order to receive the Termination Benefits, Employee must first execute the Release on a form provided by the Company in substantially the same form as attached hereto as Appendix B, together with any changes thereto that the Company deems to be necessary or appropriate to comply with applicable law or regulation.  Pursuant to the Release, thereby Employee agrees to release and waive, in return for such severance benefits, any claims that he may have against the Company including, without limitation, for unlawful discrimination or retaliation (e.g., Title VII of the U.S. Civil Rights Act); provided, however, the Release shall not release any claim by or on behalf of Employee for any payment or benefit that is due and payable under the terms of this Agreement prior to the receipt thereof.
		

		
			The Company shall deliver the Release to Employee within ten (10) days after the Employment Termination Date.  The Employee must return the executed Release within the forty-five (45) day period following the date of his receipt of the Release.  If the conditions set forth in the preceding sentence are not satisfied by Employee, the Termination Benefits shall be forfeited hereunder.
		

		
			If the Release delivery and non-revocation period spans two taxable years, the Termination Benefits will always be paid in the second taxable year.  The Company shall also execute the Release.  No Termination Benefits shall be payable or provided by the Company unless and until the Release has been executed by Employee, has not been revoked, and is no longer subject to revocation by Employee.  
		
No Mitigation
		
			.  Employee shall not be required to mitigate the amount of any payment or other benefits provided under this Agreement by seeking other employment.
		

		
			1.5Term of Agreement.  The initial term of this Agreement shall commence on the Effective Date and end on December 31, 2019.  Beginning effective as of December 31, 2019, the term of this Agreement shall be extended automatically for additional successive one-year periods as of such date and as of each annual anniversary of such date while this Agreement remains in effect so that the remaining term is one year; provided, however, if, at any time prior to the date that is sixty (60) days before December 31, 2019 or any annual anniversary thereof, either Party gives Notice to the other Party that no such automatic extension shall occur, then this Agreement shall terminate on the last day of the then-current calendar year period.
		

			
	
			
				 Article 1.
			
GENERAL PROVISIONS

Matters Relating to Section 409A of the Code
		
			.  Notwithstanding any provision in this Agreement to the contrary, if the payment of any compensation or benefit provided hereunder (including, without limitation, any Termination Benefits) would be subject to additional taxes and interest under Section 409A of the Code (“Section 409A”), then the following provisions shall apply:
		

		

		

		 

 

		Notwithstanding anything to the contrary in this Agreement, with respect to any amounts payable to Employee under this Agreement in connection with a termination of Employee’s employment that would be considered “non-qualified deferred compensation” that is subject to, and not exempt under, Section 409A, a termination of employment shall not be considered to have occurred under this Agreement unless and until such termination constitutes Employee’s Separation From Service.
		

		
			Notwithstanding anything to the contrary in this Agreement, to the maximum extent permitted by applicable law, the Termination Benefits provided to Employee pursuant to this Agreement shall be made in reliance upon Treasury Regulation Section 1.409A-1(b)(9)(iii) (relating to separation pay plans) or Treasury Regulation Section 1.409A-1(b)(4) (relating to short-term deferrals).  However, to the extent any such payments are treated as “non-qualified deferred compensation” subject to Section 409A, and if Employee is determined by the Company at the time of his Separation from Service to be a “specified employee” for purposes of Section 409A, then to the extent delayed payment of the Termination Benefits to which Employee is entitled under this Agreement is required in order to avoid a prohibited payment under Section 409A, such severance payment shall not be made to Employee before the earlier of (1) the expiration of the six-month period measured from the date Employee’s Separation from Service or (2) the date of Employee’s death.  Upon the earlier of such dates, all payments deferred pursuant to this Section 2.1 shall be paid in a lump sum to Employee (or to Employee’s Designated Beneficiary in the event of his death).
		

		
			The determination of whether Employee is a “specified employee” for purposes of Section 409A at the time of his Separation from Service shall be made by the Company in accordance with the requirements of Section 409A.
		

		
			Notwithstanding anything to the contrary in this Agreement or in any separate Company policy, with respect to any in-kind benefits and reimbursements provided under this Agreement during any tax year of Employee shall not affect in-kind benefits or reimbursements to be provided in any other tax year of Employee and are not subject to liquidation or exchange for another benefit.  Reimbursement requests must be timely submitted by Employee, and if timely submitted, reimbursement payments shall be made to Employee as soon as administratively practicable following such submission in accordance with the Company’s policy regarding reimbursements, but in no event later than the last day of Employee’s taxable year following the taxable year in which the expense was incurred.  This Section 2.1 shall only apply to in-kind benefits and reimbursements that would result in taxable compensation income to Employee.
		

		
			This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment under this Agreement becomes subject to (1) the gross income inclusion under Section 409A or (2) the interest and additional tax under Section 409A (collectively, “Section 409A Penalties”), including, where 
		

		 

 

		appropriate, the construction of defined terms to have meanings that would not cause the imposition of the Section 409A Penalties.  For purposes of Section 409A, each payment that Employee may be eligible to receive under this Agreement shall be treated as a separate and distinct payment and shall not collectively be treated as a single payment.  If any provision of this Agreement would cause Employee to incur the Section 409A Penalties, the Company may, after consulting with Employee, reform such provision to comply with Section 409A or to preclude imposition of the Section 409A Penalties, to the full extent permitted under Section 409A.
		
Withholdings; Right of Offset
		
			.  The Company may withhold and deduct from any benefits and payments made or to be made pursuant to this Agreement (a) all federal, state, local, foreign, and other taxes as may be required pursuant to any law or governmental regulation or ruling, (b) all other normal employee deductions made with respect to Company’s employees generally, and (c) any advances made to Employee and owed to Company.
		
Nonalienation
		
			.  The right to receive payments under this Agreement shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge or encumbrance by Employee, his dependents or beneficiaries, or to any other Person who is or may become entitled to receive such payments hereunder.  The right to receive payments hereunder shall not be subject to or liable for the debts, contracts, liabilities, engagements or torts of any Person who is or may become entitled to receive such payments, nor may the same be subject to attachment or seizure by any creditor of such Person under any circumstances, and any such attempted attachment or seizure shall be void and of no force and effect.
		
Incompetent or Minor Payees
		
			.  Should the Compensation Committee determine, in its discretion, that any Person to whom any payment is payable under this Agreement has been determined to be legally incompetent or is a minor, any payment due hereunder, notwithstanding any other provision of this Agreement to the contrary, may be made in any one or more of the following ways:  (a) directly to such Person; (b) to the legal guardian or other duly appointed personal representative of the individual or the estate of such Person; or (c) to such adult or adults as have, in the good faith knowledge of the Compensation Committee, assumed custody and support of such Person; and any payment so made shall constitute full and complete discharge of any liability under this Agreement in respect to the amount paid.
		
Successors and Assigns
		
			.  This Agreement shall be binding upon and inure to the benefit of the Company and any successor of the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise), and this Agreement shall inure to the benefit of and be enforceable by Employee’s legal representatives.  The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.  As used in this Agreement, “Company” shall mean the Company as previously defined and any successor by operation of law or otherwise, as well as any successor to its business and/or assets as aforesaid which assumes 
		

		 

 

		and agrees to perform this Agreement.  Except as provided in the preceding provisions of this Section 2.5, this Agreement, and the rights and obligations of the Parties hereunder, are personal in nature and neither this Agreement, nor any right, benefit, or obligation of either Party hereto, shall be subject to voluntary or involuntary assignment, alienation or transfer, whether by operation of law or otherwise, without the written consent of the other Party.
		
Notice
		
			.  Each Notice or other communication required or permitted under this Agreement shall be in writing and transmitted, delivered, or sent by personal delivery, prepaid courier or messenger service (whether overnight or same-day), or prepaid certified United States mail (with return receipt requested), addressed (in any case) to the other Party at the address for that Party set forth below or under that Party’s signature on this Agreement, or at such other address as the recipient has designated by Notice to the other Party.
		

		
			To the Company:VAALCO Energy, Inc.
		

		
			9800 Richmond Avenue, Suite 700
		

		
			Houston, Texas  77042
		

		
			Attention:  Legal Department 
		

		
			﻿
		

		
			To Employee:
		

		
			
		

		
			
		

		
			Each Notice or communication so transmitted, delivered, or sent (a) in person, by courier or messenger service, or by certified United States mail (return receipt requested) shall be deemed given, received, and effective on the date delivered to or refused by the intended recipient (with the return receipt, or the equivalent record of the courier or messenger, being deemed conclusive evidence of delivery or refusal), or (b) by telecopy or facsimile shall be deemed given, received, and effective on the date of actual receipt (with the confirmation of transmission being deemed conclusive evidence of receipt, except where the intended recipient has promptly Notified the other Party that the transmission is illegible). Nevertheless, if the date of delivery or transmission is not a Business Day, or if the delivery or transmission is after 4:00 p.m. (local time at the recipient) on a Business Day, the Notice or other communication shall be deemed given, received, and effective on the next Business Day.
		
Mandatory Arbitration of Disputes
		
			.  Except as provided in subsection (h) of this Section 2.7, any Dispute must be resolved by binding arbitration in accordance with the following:
		

		
			Either Party may begin arbitration by filing a demand for arbitration in accordance with the Arbitration Rules and concurrently Notifying the other Party of that demand.  If the Parties are unable to agree upon the choice of an arbitrator within twenty (20) Business Days after the demand for arbitration was filed (and do not agree to an extension of that 20-day period), either Party may request the Houston, Texas, office of the American Arbitration Association (“AAA”) to appoint the arbitrator in accordance with the Arbitration Rules.  The arbitrator, as so appointed hereunder, is referred to herein as the “Arbitrator”.
		

		
			
		

		 

 

		The arbitration shall be conducted in the Houston, Texas metropolitan area, at a place and time agreed upon by the Parties with the Arbitrator, or if the Parties cannot agree, as designated by the Arbitrator.  The Arbitrator may, however, call and conduct hearings and meetings at such other places as the Parties may mutually agree or as the Arbitrator may, on the motion of one Party, determine to be necessary to obtain significant testimony or evidence.
		

		
			The Arbitrator may authorize any and all forms of discovery upon a Party’s showing of need that the requested discovery is likely to lead to material evidence needed to resolve the Dispute and is not excessive in scope, timing, or cost.
		

		
			The arbitration shall be subject to the Federal Arbitration Act and conducted in accordance with the Arbitration Rules to the extent that they do not conflict with this Section 2.7.  The Parties and the Arbitrator may, however, agree to vary to provisions of this Section 2.7 or the matters otherwise governed by the Arbitration Rules.
		

		
			The arbitration hearing shall be held within sixty (60) days after the appointment of the Arbitrator.  The Arbitrator’s final decision or award shall be made within thirty (30) days after the hearing.  That final decision or award by the Arbitrator shall be deemed issued at the place of arbitration.  The Arbitrator’s final decision or award shall be based on this Agreement and applicable law.
		

		
			The Arbitrator’s final decision or award may include injunctive relief in response to any actual or impending breach of this Agreement or any other actual or impending action or omission by a Party in connection with this Agreement.
		

		
			The Arbitrator’s final decision or award shall be final and binding upon the Parties, and judgment upon that decision or award may be entered in any court having jurisdiction.  The Parties shall have any appeal rights afforded to them under the Federal Arbitration Act.
		

		
			Nothing in this Section 2.7 shall limit the right of either Party to apply to a court having jurisdiction to: (1) enforce the agreement to arbitrate in accordance with this Section 2.7; (2) seek provisional or temporary injunctive relief in response to an actual or impending breach of the Agreement or otherwise so as to avoid an irreparable damage or maintain the status quo, until a final arbitration decision or award is rendered or the Dispute is otherwise resolved; or (3) challenge or vacate any final Arbitrator’s decision or award that does not comply with this Section 2.7.  In addition, nothing in this Section 2.7 prohibits the Parties from resolving any Dispute (in whole or in part) by mutual agreement at any time, including, without limitation, through the use of personal negotiations or mediation with a third party.
		

		
			The Arbitrator may proceed to an award notwithstanding the failure of any Party to participate in such proceedings.  The prevailing Party in the arbitration proceeding may be entitled to an award of reasonable attorneys’ fees incurred in 
		

		 

 

		connection with the arbitration in such amount, if any, as determined by the Arbitrator in his discretion.  The costs of the arbitration shall be borne equally by the Parties unless otherwise determined by the Arbitrator in the award.
		

		
			The Arbitrator shall be empowered to impose sanctions and to take such other actions as it deems necessary to the same extent a judge could impose sanctions or take such other actions pursuant to the Federal Rules of Civil Procedure and applicable law.  Each Party agrees to keep all Disputes and arbitration proceedings strictly confidential except for the disclosure of information required by applicable law.
		

		
			Employee acknowledges that by agreeing to this provision, he knowingly and voluntarily waives any right he may have to a jury trial based on any claims he has, had, or may have against the Company or an Affiliate, including any right to a jury trial under any local, municipal, state or federal law.
		
Severability
		
			.  It is the desire of the Parties hereto that this Agreement be enforced to the maximum extent permitted by law, and should any provision contained herein be held unenforceable by a court of competent jurisdiction or arbitrator (pursuant to Section 2.7), the Parties hereby agree and consent that such provision shall be reformed to create a valid and enforceable provision to the maximum extent permitted by law; provided, however, if such provision cannot be reformed, it shall be deemed ineffective and deleted herefrom without affecting any other provision of this Agreement.  This Agreement should be construed by limiting and reducing it only to the minimum extent necessary to be enforceable under then applicable law.
		
No Third Party Beneficiaries
		
			.  This Agreement shall be binding upon and inure to the benefit of the Parties hereto, and to their respective successors and permitted assigns hereunder, but otherwise this Agreement shall not be for the benefit of any Persons who are third parties.
		
Waiver of Breach
		
			.  No waiver by either Party of a breach of any provision of this Agreement by the other Party, or of compliance with any condition or provision of this Agreement to be performed by the other Party, will operate or be construed as a waiver of any subsequent breach by the other Party or any similar or dissimilar provision or condition at the same or any subsequent time.  The failure of either Party to take any action by reason of any breach will not deprive such Party of the right to take action at any time while such breach continues.
		
Survival of Certain Provisions
		
			.  Wherever appropriate to the intention of the Parties, the respective rights and obligations of the Parties hereunder shall survive any termination or expiration of this Agreement or following the Employee’s Termination Date.
		
Entire Agreement; Amendment
		
			.  This Agreement contains the entire agreement of the Parties with respect to the matters covered herein; moreover, this Agreement supersedes all prior and contemporaneous agreements and understandings, oral or written, between the 
		

		 

 

		Parties concerning the subject matter hereof.  This Agreement may be amended only by a written instrument that is identified as an amendment and that is executed by or on behalf of each Party.
		
Interpretive Matters
		
			.  In the interpretation of the Agreement, except where the context otherwise requires:
		

		
			Headings.  The Agreement headings are for reference purposes only and will not affect in any way the meaning or interpretation of this Agreement.
		

		
			The terms “including” and “include” do not denote or imply any limitation.
		

		
			The conjunction “or” has the inclusive meaning “and/or”.
		

		
			The singular includes the plural, and vice versa, and each gender includes each of the others.
		

		
			The term “month” refers to a calendar month.
		

		
			Reference to any statute, rule, or regulation includes any amendment thereto or any statute, rule, or regulation enacted or promulgated in replacement thereof.
		

		
			The words “herein”, “hereof”, “hereunder” and other compounds of the word “here” shall refer to the entire Agreement and not to any particular provision.
		

		
			All amounts referenced herein are in U.S. dollars.
		

		
			(i)In addition to the terms defined in the text hereof, terms with initial capital letters as used herein have the meanings assigned to them, for all purposes of this Agreement, in the Definitions Appendix hereto, unless the context reasonably requires a broader, narrower or different meaning.  The Definitions Appendix, as attached hereto, is part of this Agreement and incorporated herein.
		
Governing Law; Jurisdiction
		
			.  All matters or issues relating to the interpretation, construction, validity, and enforcement of this Agreement shall be governed by the laws of the State of Texas, without giving effect to any choice-of-law principle that would cause the application of the laws of any jurisdiction other than Texas.  Jurisdiction and venue of any action or proceeding relating to this Agreement or any Dispute (to the extent arbitration is not required under Section 2.7) shall be exclusively in the federal and state courts of competent jurisdiction in the Houston, Texas metropolitan area.
		
Employee Acknowledgment
		
			.  Employee acknowledges that (a) he is knowledgeable and sophisticated as to business matters, including the subject matter of this Agreement, (b) he has read this Agreement and understands its terms and conditions, (c) he has had ample opportunity to discuss this Agreement with his legal counsel prior to execution, and 
		

		 

 

		(d) no strict rules of construction shall apply for or against the drafter or any other Party.  Employee represents that he is free to enter into this Agreement.
		
Counterparts
		
			.  This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute one and the same instrument.  Each counterpart may consist of a copy hereof containing multiple signature pages, each signed by one Party hereto, but together signed by both Parties.
		

		
			 [Signature page follows.]
		

		
			 
		

		

		

		 

 

		IN WITNESS WHEREOF, Employee has hereunto set his hand and Company has caused this Agreement to be executed in its name and on its behalf by its duly authorized officer, to be effective as of the Effective Date.
		

		
			WITNESS:EMPLOYEE:
		

		
			﻿
		

		
			Signature:Signature:
		

		
			Name:Name: 
		

		
			Date:Date: 
		

		
			﻿
		

		
			﻿
		

		
			﻿
		

		
			ATTEST:COMPANY:
		

		
			VAALCO ENERGY, INC.
		

		
			﻿
		

		
			By: By:
		

		
			Name:Name: Cary M. Bounds 
		

		
			Title:Title:  Chief Executive Officer
		

		
			Date:  Date:  
		

		
			﻿
		

		
			 
		

		

		

		 

 

		APPENDIX A
		

		
			Definitions Appendix
		
“Affiliate”
		
			has the same meaning ascribed to such term in Rule 12b-2 under the Securities Exchange Act of 1934, as amended from time to time.
		
“Anticipatory Termination”
		
			 means a Separation From Service of the Employee within the time period that begins on the first day of the month that is three (3) months immediately preceding the first day of the month containing the Change in Control Date and ends on the Change in Control Date, but only if the Employee’s Separation From Service was (a) due to a termination by the Company without Cause or (b) a termination by the Employee for Good Reason.  For purposes of clarification and not limitation, a Separation From Service for Cause, or due to Employee’s death or Disability or his voluntary resignation without Good Reason, is not an Anticipatory Termination.
		
“Arbitration Rules”
		
			means the Rules for Employment Arbitrations of the American Arbitration Association, as in effect at the time of arbitration of a Dispute.
		
“Board”
			
	
			
				 1.
			means the then-current Board of Directors of the Company.

“Business Day”
		
			 means any Monday through Friday, excluding any such day on which banks are authorized to be closed in Texas.
		
“Cause”
		
			 shall mean the termination by the Company of the Employee’s employment with the Company by reason of (a) the conviction of the Employee by a court of competent jurisdiction as to which no further appeal can be taken of a crime involving moral turpitude or a felony; (b) the commission by the Employee of a material act of fraud upon the Company or any Subsidiary, or any customer or supplier thereof; (c) the misappropriation of any funds or property of the Company or any Subsidiary, or any customer or supplier thereof, by the Employee; (d) the willful and continued failure by the Employee to perform the material duties assigned to him that is not cured to the reasonable satisfaction of the Company within 30 days after written notice of such failure is provided to Employee by the Board or the Compensation Committee (or by an officer of the Company who has been designated by the Board or the Compensation Committee for such purpose); (e) the engagement by the Employee in any direct and material conflict of interest with the Company or any Subsidiary without compliance with the Company’s or Subsidiary’s conflict of interest policy, if any, then in effect; or (f) the engagement by the Employee, without the written approval of the Board or the Compensation Committee, in any material activity which competes with the business of the Company or any Subsidiary or which would result in a material injury to the business, reputation or goodwill of the Company or any Subsidiary.
		
“Change in Control”
		
			 means the occurrence of any one or more of the following events:
		

		 

 

			
	
			
				 (a)
			

			
	
			
			The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act (a “Person”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of either (i) the then outstanding shares of common stock of the Company (the “Outstanding Company Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that the following acquisitions shall not constitute a Change in Control: (i) any acquisition directly from the Company or any Subsidiary, (ii) any acquisition by the Company or any Subsidiary or by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Subsidiary, or (iii) any acquisition by any corporation pursuant to a reorganization, merger, consolidation or similar business combination involving the Company (a “Merger”), if, following such Merger, the conditions described in Section 8(c) (below) are satisfied;

			
	
			
				 (b)
			

			
	
			
			Individuals who, as of the Effective Date, constitute the Board of Directors of the Company (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board;

			
	
			
				 (c)
			

			
	
			
			The consummation of a Merger involving the Company, unless immediately following such Merger, (i) substantially all of the holders of the Outstanding Company Voting Securities immediately prior to Merger beneficially own, directly or indirectly, more than fifty percent (50%) of the common stock of the corporation resulting from such Merger (or its parent corporation) and (ii) at least a majority of the members of the board of directors of the corporation resulting from such Merger (or its parent corporation) were members of the Incumbent Board at the time of the execution of the initial agreement providing for such Merger; or

			
	
			
				 (d)
			

			
	
			
			The sale consummation, or other disposition of all or substantially all of the assets of the Company, unless immediately following such sale or other disposition, (i) substantially all of the holders of the Outstanding Company Voting Securities immediately prior to the consummation of such sale or other disposition beneficially own, directly or indirectly, more than fifty percent (50%) of the common stock of the corporation acquiring such assets in substantially the same proportions as their ownership of Outstanding Company Voting Securities immediately prior to the consummation of such sale or disposition, and (ii) at least a majority of the members of 
		

		 

 

			the board of directors of such corporation (or its parent corporation) were members of the Incumbent Board at the time of execution of the initial agreement or action of the Board providing for such sale or other disposition of assets of the Company.

		
			Notwithstanding the foregoing provisions of this Change in Control definition, to the extent that any payment (or acceleration of payment) under the Agreement is considered to be deferred compensation that is subject to, and not exempt under, Code Section 409A, then the term Change in Control hereunder shall be construed to have the meaning as set forth in Code Section 409A with respect to the payment (or acceleration of payment) of such deferred compensation, but only to the extent inconsistent with the foregoing provisions of this definition as determined by the Incumbent Board.
		
“Change in Control Date”
		
			 means the first date upon which a Change in Control event occurs, provided that such date is during (a) the period in which Employee is employed by Company or any of its Affiliates or (b) the three-month period following the termination of Employee’s employment with the Company or its Affiliates as specified in the definition of “Anticipatory Termination”, if applicable.
		

			
	
			
				 2.
			“CIC Severance Payment Event” means either:  the Employee’s Separation From Service with the Company and all Affiliates that occurs within the CIC Window Period, other than (1) voluntarily by the Employee unless such resignation is for Good Reason, (2) due to Employee’s death or Disability, or (3) involuntarily by the Company for Cause.  Any Separation From Service of the Employee that does not occur within the CIC Window Period, or is otherwise not described in this definition shall not be considered a CIC Severance Payment Event.

“CIC Window Period”
		
			 means (a) the time period beginning on the Change in Control Date and ending on the last day of the six (6) consecutive month period that begins immediately following the last day of the month containing the Change in Control Date, or (b) following an Anticipatory Termination, the occurrence of a Change in Control (which Change in Control must qualify as a “change in control event” within the meaning of Section 409A) within the three-month period that is specified in the definition of “Anticipatory Termination”.
		

			
	
			
				 3.
			“Code” means the Internal Revenue Code of 1986, as amended, or its successor.  References herein to any Section of the Code shall include any successor provisions of the Code.

“Confidential Information”
		
			 means any information or material known to, or used by or for, the Company or an Affiliate (whether or not owned or developed by the Company or an Affiliate and whether or not developed by Employee) that is not generally known by other Persons in the business.  For all purposes of the Agreement, Confidential Information includes, but is not limited to, the following: all trade secrets of the Company or an Affiliate; all non-public information that the Company or an Affiliate has marked as confidential or has otherwise described to Employee (either in writing or orally) as confidential; all non-public information concerning the Company’s or Affiliate’s products, services, prospective products or services, research, prospects, leases, surveys, seismic 
		

		 

 

		data, drilling data, designs, prices, costs, marketing plans, marketing techniques, studies, test data, leasehold and royalty owners, investors, suppliers and contracts; all business records and plans; all personnel files; all financial information of or concerning the Company or an Affiliate; all information relating to the Company’s operating system software, application software, software and system methodology, hardware platforms, technical information, inventions, computer programs and listings, source codes, object codes, copyrights and other intellectual property; all technical specifications; any proprietary information belonging to the Company or an Affiliate; all computer hardware or software manuals of the Company or an Affiliate; all Company or Affiliate training or instruction manuals; all Company or Affiliate electronic data; and all computer system passwords and user codes.
		
“Designated Beneficiary”
		
			 means Employee’s surviving spouse, if any, as determined for purposes of the Code.  If there is no such surviving spouse at the time of Employee’s death, then the Designated Beneficiary shall be Employee’s estate.
		
“Disability”
		
			 shall mean that Employee is entitled to receive long‐term disability (“LTD”) income benefits under the LTD plan or policy maintained by the Company or an Affiliate that covers Employee.  If, for any reason, Employee is not covered under such LTD plan or policy, then “Disability” shall mean a “permanent and total disability” as defined in Code Section 22(e)(3) and Treasury regulations thereunder.  Evidence of such Disability shall be certified by a physician acceptable to both the Company and Employee.  In the event that the Parties are not able to agree on the choice of a physician, each shall select one physician who, in turn, shall select a third physician to render such certification.  All costs relating to the determination of whether Employee has incurred a Disability shall be paid by the Company.  Employee agrees to submit to any examinations that are reasonably required by the attending physician or other healthcare service providers to determine whether he has a Disability.
		
“Dispute”
		
			 means any dispute, disagreement, controversy, claim, or cause of action arising in connection with or relating to this Agreement or Employee’s employment or termination of employment hereunder, or the validity, interpretation, performance, breach, modification or termination of this Agreement.
		
“Good Reason”
		
			 means, with respect to Employee, the occurrence of any one or more of the following events which first occurs while the Employee is employed by Company or any of its Affiliates, except as a result of actions taken in connection with termination of Employee’s employment for Cause or Disability, and without Employee’s specific written consent:
		

		
			The assignment to Employee of any duties that are materially inconsistent with Employee’s position, which in this definition includes any material diminution in Employee’s position, authority, duties, or responsibilities, other than (in any case or circumstance) an isolated and inadvertent action not taken in bad faith that is remedied 
		

		 

 

		by the Company within thirty (30) Business Days after Notice thereof to the Company by Employee; or
		

		
			The Company requires Employee to be based at any office or location that is farther than forty (40) miles from Employee’s principal office location located in the Houston, Texas metropolitan area, except for required business travel; or
		

		
			Any failure by the Company to obtain an assumption of this Agreement by its successor in interest, or any action or inaction that constitutes a material breach by the Company of this Agreement.
		

		
			Notwithstanding the foregoing definition of “Good Reason”, Employee cannot terminate his employment under the Agreement for Good Reason unless Employee (1) first provides written Notice to the Compensation Committee of the event (or events) that Employee believes constitutes a Good Reason event (above) within sixty (60) days from the first occurrence date of such event, and (2) provides the Company with at least thirty (30) Business Days to cure, correct or mitigate the Good Reason event so that it either (A) does not constitute a Good Reason event hereunder or (B) Employee specifically agrees, in writing, that after any such modification or accommodation by the Company, such event does not constitute a Good Reason event hereunder.
		
“No Severance Benefits Event”
		
			 means termination of Employee’s employment for Cause.
		
“Notice”
		
			 means a written communication complying with Section 2.6 (“Notify” has the correlative meaning).
		
“Person”
		
			 means any individual, firm, corporation, partnership, limited liability company, trust, or other entity, including any successor (by merger or otherwise) of such entity.
		
“Release”
		
			 means a separation and release agreement, in such form as is prepared and delivered by the Company to Employee.  The Release shall not release any claim by or on behalf of Employee for any payment or other benefit that is required under this Agreement prior to the receipt thereof, except as may otherwise be agreed to by Employee.
		
“Separation From Service”
		
			means Employee’s “separation from service” with the Company and its Affiliates, as such term is defined under Code Section 409A.
		
“Subsidiary”
		
			 means a corporation or other entity, whether incorporated or unincorporated, of which at least a majority of the voting securities is owned, directly or indirectly, by the Company.
		
“Termination Benefits”
		
			 means the benefits described in Section 1.1(b).
		

		 

 
“Termination Date”
		
			 means the date on which Employee’s employment terminates with the Company and all Affiliates.  Notwithstanding anything herein to the contrary, the date on which a “separation from service” under Code Section 409A is effective shall be the Termination Date with respect to any payment or benefit to or on behalf of Employee that constitutes deferred compensation that is subject to, and not exempt from or excepted under, Code Section 409A.
		

		
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			[End of Appendix A]
		

		
			 
		

		

		

		 

 

		APPENDIX B
		

		
			TO
		

		
			CHANGE IN CONTROL AGREEMENT
		

		
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			RELEASE AGREEMENT
		

		
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			In consideration of the Termination Benefits as set forth in that certain Change in Control Agreement (the “Change in Control Agreement”) dated as of ___________, 2019, and as it may be amended thereafter, by and between VAALCO Energy, Inc. (the “Company”) and __________ (“Employee”), this Release Agreement (the “Agreement”) is made and entered into by the Company and the Employee (each a “Party” and together, the “Parties”). 
		

		
			By signing this Release Agreement, Employee and the Company hereby agree as follows:
		

			
	
			
				 1.
			

			
	
			
			Purpose.  The purpose of this Agreement is to voluntarily resolve any actual or potential disputes or claims that Employee has, had or may ever have, as of the date of Employee’s execution of this Agreement, against (a) the Company and all of its parents, predecessors, successors, Affiliates (as defined in the Change in Control Agreement), divisions, related companies and organizations, and its and their present and former agents, employees, managers, officers, directors, attorneys, stockholders, plan fiduciaries, assigns, agents, representatives, and all other Persons (as defined in the Change in Control Agreement) acting by, through or in concert with any of them and (b) all compensation and benefit plans and programs sponsored or maintained by the Company and the administrators, trustees, insurers, and fiduciaries of such plans and programs (hereinafter, all the persons and entities in clauses (a) and (b) being individually and collectively referred to as the “Released Parties”).  Neither the fact that this Agreement has been proposed or executed, nor the terms of this Agreement, are intended to suggest, or should be construed as suggesting, that the Released Parties have acted unlawfully or violated any federal, state or local law or regulation, or any other duty, policy or contract involving Employee.

			
	
			
				 2.
			

			
	
			
			Termination of Employment.  Effective as of the close of business on ______________ (the “Termination Date”), Employee’s employment with the Company and all of its Affiliates has terminated. 

		
			3.Termination Benefits.  In consideration for Employee’s execution of, and required performance under, this Agreement, the Company shall provide Employee with the Termination Benefits (as defined in the Change in Control Agreement, which definition and other terms in the Change in Control Agreement are incorporated herein by this reference).  Employee confirms and agrees that he would not otherwise have received, or been entitled to receive, the Termination Benefits if he did not enter into this Agreement.  
		

			
	
			
				 4.
			

			
	
			
			Waiver of Additional Compensation or Benefits.  The Termination Benefits to be paid to Employee constitutes the entire amount of compensation and consideration due to 
		

		 

		

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			Employee under the Change in Control Agreement and this Agreement, and Employee acknowledges that he has no right to seek, and will not seek, any additional or different compensation or consideration for executing or performing under the Change in Control Agreement or this Agreement.  

			
	
			
				 5.
			

			
	
			
			Non-Disparagement.  Employee hereby agrees not to disclose, communicate, or publish any disparaging or negative information, writings, electronic communications, comments, opinions, facts, or remarks, of any kind, about the Company and/or any of the other Released Parties; provided, however, that this paragraph shall have no application to any evidence or testimony required by any court or other government entity, including but not limited to, the U.S. Equal Employment Opportunity Commission (“EEOC”) or any similar federal, state or local agency, under compulsion of law. Employee acknowledges that in executing this Agreement, Employee has knowingly, voluntarily and intelligently waived any free speech or First Amendment rights under the United States Constitution or applicable state counterpart to disclose, publish or communicate any such disparaging information about the Company and/or any of the other Released Parties.  

			
	
			
				 6.
			

			
	
			
			Employee Representations.  Employee expressly acknowledges and represents, and intends for the Company to rely upon the following in entering the Agreement:

			
	
			
				 (a)
			

			
	
			
			Employee has not filed any complaints, claims or actions against the Company or any of the other Released Parties with any court, agency, or commission regarding the matters encompassed by this Agreement and, by executing this Agreement, Employee hereby waives the right to recover monetary damages in any proceeding that (1) Employee may bring before the EEOC or any state or local human rights commission or (2) may be brought by the EEOC or any state or local human rights commission by or on Employee’s behalf. 

			
	
			
				 (b)
			

			
	
			
			Employee understands that he is, by entering into this Agreement, releasing the Released Parties, including the Company, from any and all claims he has, had or may ever have against them under federal, state or local laws, which have arisen on or before the execution date of this Agreement.

			
	
			
				 (c)
			

			
	
			
			Employee understands that he is, by entering into this Agreement, waiving all claims that he has, had or may ever have against the Released Parties under the federal Age Discrimination in Employment Act of 1967, as amended, which have arisen on or before the execution date of this Agreement. 

			
	
			
				 (d)
			

			
	
			
			Employee agrees that this Agreement shall be binding on him and his heirs, administrators, representatives, executors, successors, and assigns, and shall inure to the benefit of his heirs, administrators, representatives, executors, successors and assigns. 

			
	
			
				 (e)
			

			
	
			
			Employee has reviewed all aspects of this Agreement, and has carefully read and fully understands all of the provisions and effects of this Agreement. 

		 

		

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				 (f)
			

			
	
			
			Employee has been, and is hereby, advised in writing to consult with an attorney of his own choice before signing this Agreement. 

			
	
			
				 (g)
			

			
	
			
			Employee is knowingly and voluntarily entering into this Agreement, and has relied solely and completely upon his own judgment and, if applicable, the advice of his own attorney in entering into this Agreement. 

			
	
			
				 (h)
			

			
	
			
			Employee is not relying upon any representations, promises, predictions, projections or statements made by or on behalf of the Company or any of the other Released Parties, other than those that are specifically stated in this Agreement.

			
	
			
				 (i)
			

			
	
			
			Employee does not waive rights or claims that may arise after the date this Agreement is signed below.

			
	
			
				 (j)
			

			
	
			
			This Agreement shall be, in all cases, construed as a whole according to its fair meaning, and not strictly for or against any of the Parties.

			
	
			
				 (k)
			

			
	
			
			Employee will receive payment of consideration under this Agreement that is beyond what Employee was entitled to receive before entering into this Agreement.

			
	
			
				 7.
			

			
	
			
			Release.  Employee, on behalf of himself and his heirs, executors, administrators, successors and assigns, irrevocably and unconditionally releases, waives and forever discharges the Released Parties from and against any and all claims, demands, actions, causes of action, charges, complaints, liabilities, obligations, promises, sums of money, agreements, representations, controversies, disputes, damages, suits, right, sanctions, costs (including attorneys’ fees), losses, debts and expenses of any nature whatsoever, whether known or unknown, fixed or contingent, which Employee has, had or may ever have against the Released Parties arising out of, concerning, or related to, his employment or separation from employment with the Company and its Affiliates, from the beginning of time and up to and including the date Employee executes this Agreement below.  This Agreement includes, without limitation, (a) law or equity claims; (b) contract (express or implied) or tort claims; (c) claims arising under any federal, state or local laws of any jurisdiction that prohibit age, sex, race, national origin, color, disability, religion, veteran, military status, sexual orientation or any other form of discrimination, harassment, hostile work environment or retaliation (including, without limitation, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Americans with Disabilities Act of 1990, the Americans with Disabilities Act Amendments Act of 2008, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Civil Rights Acts of 1866 and/or 1871, 42 U.S.C. Section 1981, the Rehabilitation Act, the Family and Medical Leave Act, the Sarbanes-Oxley Act, the Employee Polygraph Protection Act, the Worker Adjustment and Retraining Notification Act, the Equal Pay Act of 1963, the Lilly Ledbetter Fair Pay Act, the Uniformed Services Employment and Reemployment Rights Act of 1994, the Genetic Information and Nondiscrimination Act of 2008, the Texas Labor Code, Section 1558 of the Patient Protection and Affordable Care Act of 2010, the Consolidated Omnibus Budget Reconciliation Act of 1985, and any other federal, state or local laws of 
		

		 

		

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			any jurisdiction); (d) claims under any other federal, state, local, municipal or common law whistleblower protection, discrimination, wrongful discharge, anti-harassment or anti-retaliation statute or ordinance; (e) claims arising under ERISA; or (f) any other statutory or common law claims related to Employee’s employment or separation from employment with the Company and its Affiliates.  Employee further represents that, as of the date of his execution of this Agreement, he has not been the victim of any illegal or wrongful acts by any of the Released Parties, including, without limitation, discrimination, retaliation, harassment or any other wrongful act based on sex, age, race, religion, or any other legally protected characteristic.  

		
			Notwithstanding the foregoing, this Agreement specifically does not release any claim or cause of action by or on behalf of Employee (or his beneficiary) for any payment or other benefit that is required under the terms of the Change in Control Agreement prior to the receipt thereof by or on behalf of Employee.
		

			
	
			
				 8.
			

			
	
			
			Entire Agreement.  This Agreement sets forth the entire agreement between the Parties and fully supersedes and replaces any and all prior agreements or understandings, written or oral, between the Parties pertaining to the subject matter of this Agreement. 

			
	
			
				 9.
			

			
	
			
			Severability.  Should any provision of this Agreement be declared or be determined by any court of competent jurisdiction to be illegal, invalid or unenforceable, the Agreement shall first be reformed to make the provision at issue enforceable and effective to the full extent permitted by law.  If such reformation is not possible, all remaining provisions of this Agreement shall otherwise remain in full force and effect and shall be construed as if such illegal, invalid or unenforceable provision has not been included herein.

			
	
			
				 10.
			

			
	
			
			Forty-Five Calendar Days to Consider Offer of Termination Benefits.  Employee shall have, and by signing this Agreement Employee acknowledges and represents that he has been given, a period of forty-five (45) calendar days to consider whether to elect to sign this Agreement, and to thereby waive and release the rights and claims addressed in this Agreement.  Although Employee may sign this Agreement prior to the end of the forty-five (45) calendar day period, Employee may not sign this Agreement on or before the Termination Date.  In addition, if Employee signs this Agreement prior to the end of the forty-five (45) calendar day period, Employee shall be deemed, by doing so, to have certified and agreed that the decision to make such election prior to the expiration of the forty-five (45) calendar day period is knowing and voluntary and was not induced by the Company through:  (a) fraud, misrepresentation or a threat to withdraw or alter the offer prior to the end of the forty-five (45) calendar day period; or (b) an offer to provide different terms or benefits in exchange for signing the Agreement prior to the expiration of the forty-five (45) calendar day period.  The procedure for Employee to accept this Agreement is to return a fully executed, dated and witnessed Agreement to the Chairman or Secretary of the Company’s Board of Directors prior to the deadline.

			
	
			
				 11.
			

			
	
			
			Seven Day Revocation Period.  Employee understands and acknowledges that he may revoke this Agreement at any time within seven (7) calendar days after he signs this Agreement.  To revoke this Agreement, Employee must deliver written notification of such revocation to the attention of the Chairman or the Secretary of the Company’s Board of Directors, 
		

		 

		

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			within seven (7) calendar days after the date that he signs this Agreement.  Employee further understands that if he does not revoke this Agreement within seven (7) calendar days following his execution of the Agreement (excluding the date of execution), the Agreement will become effective, binding and enforceable on both Parties.

			
	
			
				 12.
			

			
	
			
			Agreement not to Sue.  Except as required by law that cannot be waived, Employee agrees that he will not commence, maintain, initiate, or prosecute, or cause, encourage, assist, volunteer, advise or cooperate with any other Person (as defined in the Employee Change in Control Agreement) to commence, maintain, initiate or prosecute, any action, lawsuit, proceeding, charge, petition, complaint or claim before any court, agency or tribunal against the Company or any Affiliate arising from, concerned with, or otherwise relating to, in whole or in part, Employee’s employment or separation from employment with the Company, or any of the matters discharged and released in this Agreement.  Notwithstanding the preceding sentence or any other provision of this Agreement or the Change in Control Agreement, this release and the Change in Control Agreement are not intended to interfere with Employee’s right to file a charge with the EEOC or a state or local human rights commission in connection with any claim that Employee believes he may have against the Company or its Affiliates, or to cooperate or provide truthful testimony to the EEOC or a state or local human rights commission with respect to any investigation.  However, by executing this Agreement, Employee hereby waives the right to recover monetary damages in any proceeding he may bring before the EEOC or any state or local human rights commission or in any proceeding brought by the EEOC or any state or local human rights commission (or any other agency) on Employee’s behalf.

			
	
			
				 13.
			

			
	
			
			Confidentiality of Agreement.  Employee agrees to keep this Agreement and its terms confidential.  Employee agrees and understands that he is prohibited from disclosing any terms of this Agreement to anyone, except that he may disclose the terms of this Agreement to his attorney, his spouse, his financial advisor or as otherwise required by compulsion of law.

			
	
			
				 14.
			

			
	
			
			Agreement to Return Company Property/Documents.  Employee acknowledges that his employment with the Company and its Affiliates has terminated effective as of the Termination Date.  Accordingly, Employee agrees that, in accordance with the Company’s policy:  (i) Employee will not take with him, copy, alter, destroy or delete any files, documents or other materials whether or not embodying or recording any Confidential Information (as defined in the Change in Control Agreement), including copies, without obtaining in advance the written consent of an authorized Company representative; and (ii) Employee will promptly return to the Company all Confidential Information, documents, files, records and tapes (written or electronically stored) that are in Employee’s possession or under his control, and Employee shall not use or disclose such materials in any way or in any format, including written information in any form, information stored by electronic means, and any and all copies of such materials.  Employee further agrees that he will return to the Company immediately all Company property, including, without limitation, any Company-provided keys, equipment, computer and computer equipment, devices, any other Company cellular phones, Company credit cards, business cards, data, lists, information, correspondence, notes, 
		

		 

		

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			memorandums, reports or other writings prepared by the Company or Employee on behalf of the Company or an Affiliate. 

			
	
			
				 15.
			

			
	
			
			Waiver.  A Party’s waiver of any breach or violation of any provision of this Agreement shall not operate as, or be construed to be, a waiver of any later breach of the same or other provision by such Party.

			
	
			
				 16.
			

			
	
			
			Miscellaneous.  The Parties understand and agree that if a violation of any term of this Agreement is asserted, the Party who asserts such violation shall have the right to seek specific performance of that term and/or any other necessary and proper relief as permitted by law or equity, including but not limited to, damages awarded by any court of competent jurisdiction, and the prevailing Party shall be entitled to recover its reasonable costs and attorneys’ fees.

		
			Nothing in this Agreement will be construed to prevent Employee from challenging the validity of this Agreement under the Age Discrimination in Employment Act or Older Workers Benefit Protection Act.  Employee further understands and agrees that if he, or someone acting on his behalf, files, or causes to be filed, any such claim, charge, complaint or action against the Company, an Affiliate or any other Released Party, Employee hereby expressly fully waives and relinquishes any right to recover any damages or other relief, whatsoever, from the Company, its Affiliates and/or other Persons, including costs and attorneys’ fees.
		

			
	
			
				 17.
			

			
	
			
			Binding Effect.  This Agreement shall be binding upon and inure to the benefit of the Parties, and their respective heirs, executors, beneficiaries, personal representatives, successors and permitted assigns hereunder, but otherwise this Agreement shall not be for the benefit of any third parties.

			
	
			
				 18.
			

			
	
			
			Survival of Certain Provisions. Wherever appropriate to the intention of the Parties, the respective rights and obligations of the Parties hereunder shall survive any termination or expiration of this Agreement 

			
	
			
				 19.
			

			
	
			
			Choice of Law.  This Agreement shall be governed by, and construed and interpreted in accordance with, the laws of the State of Texas without regard to principles of conflict of laws.  Jurisdiction and venue of any action or proceeding relating to this Agreement, or any dispute hereunder, shall be exclusively in a federal or state court of competent jurisdiction in the Houston, Texas, metropolitan area, and the Parties hereby waive any objection to such jurisdiction or venue including, without limitation, to the effect that it is inconvenient.  

			
	
			
				 20.
			

			
	
			
			Counterparts.  The Parties agree that this Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall be deemed one and the same instrument.

		
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		[Signature page follows.]
		

		

		

		 

		

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		Please review this document carefully as it includes a release of claims.
		

		
			IN WITNESS WHEREOF, Employee has executed and entered into this Agreement, and the Company has caused this Agreement to be executed in its name and on its behalf by its duly authorized officer, to be effective as of the date this Agreement is executed by Employee as set forth beneath his signature below.
		

		
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			This document was presented to Employee on _____________, 20___.
		

		
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			COMPANY:
		

		
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			By:
		

		
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			Name:
		

		
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			Title:
		

		
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			Dated this ____ day of _________ 20
		

		
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			EXECUTIVE:WITNESS:
		

		
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			Signature: Witness signature
		

		
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			Name: Name:
		

		
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			Dated this ___ day of ___________ 20Dated this ___ day of ___________ 20
		

		
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			Address for Employee:
		

		
			
		

		
			
		

		
			
		

		
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			14

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