Document:

Gas Marketing Agreement

 Exhibit 10.3 

GAS MARKETING AGREEMENT 

THIS GAS MARKETING AGREEMENT (the “Agreement”), made and entered into the 28 day of August, 2009, by and among Mewbourne Oil
Company (“MOC”), Mewbourne Energy Partners 09-A, L.P. (the “Partnership”) and Mewbourne Development Corporation (“MD”). 

Recitals 
  

	 	1.	MD and the Partnership are participants in a drilling program (the “Program”) governed by that certain Drilling Program Agreement dated August 28, 2009
by and among MOC, the Partnership and MD (the “Program Agreement”). 

  

	 	2.	Under the terms of the Program Agreement, MOC is the “Program Manager” and also serves the “Operator” of the “Program’s” properties
under the terms of a joint operating agreement. 

  

	 	3.	MOC operates hundreds of oil and gas wells in which non-affiliated parties own working interests. 

 

	 	4.	MOC has developed expertise in the marketing of natural gas produced from the wells it operates. 

 

	 	5.	In recognition of MOC’s gas marketing expertise, non-affiliated parties have contracted with MOC for gas marketing services on substantially the same terms as
provided for in this Agreement. 

 AGREEMENT 

NOW THEREFORE, in consideration of the premises and of the respective undertaking and obligations of the parties set forth below, the parties agree as
follows: 
  

	 	1.	MOC shall provide gas marketing services to the Program pursuant to which the Program’s gas production will be bundled with other parties’ gas production in
an effort to maximize the overall price and terms received for the Program’s gas production. 

  

	 	2.	The term of this Agreement shall begin on August 28, 2009, and shall continue through December 31, 2009, and from year to year thereafter, until terminated by
any party hereto upon 60 days prior notice. 

  

	 	3.	For its services rendered, Operator shall charge Program and the Program shall pay, a fee of $0.04 per Mcf of gas owned by the Program and sold for the Program’s
account by MOC. This fee shall be assessed only upon gas sold by MOC under multi-month term or single month spot market contracts; the fee shall not be assessed upon gas sold under long term percentage-of-proceeds or percentage-of-index contracts.

	 	4.	This Agreement shall not create, nor shall it be construed as creating, a mining or other partnership, joint venture, agency relationship or association, or to render
the parties liable as partners, co-venturers or principals nor shall it give rise to any fiduciary duties among the parties hereto. 

  

	 	5.	Defined terms used herein but not defined herein shall have the meaning given such terms in the Program Agreement. 

EXECUTED at Tyler, Texas on the date indicated above. 
  

									
	MEWBOURNE OIL COMPANY	 		 	 MEWBOURNE DEVELOPMENT

CORPORATION, in its individual corporate capacity and in its capacity as managing general partner of Mewbourne Energy Partners 09-A,
L.P.

					
	By:	 	/s/ James Allen Brinson	 		 		 	
		 	James Allen Brinson	 		 		 	
		 	Attorney-in-Fact	 		 		 	
					
		 		 		 	By:	 	/s/ J. Roe Buckley
		 		 		 		 	J. Roe Buckley
		 		 		 		 	Executive Vice PresidentLetter Agreement between the Company and Bret Scholtes

 Exhibit 10.1 

April 15, 2010 
 Mr. Bret Scholtes

 Dear Bret: 
 I am pleased to offer
you the position of Senior Vice President – Corporate Development of Omega Protein Corporation (the “Company”). The anticipated start date for your position is to be mutually determined, but expected to be in May 2010. 

 

	 	1.	Salary. $9,375 per bi-weekly pay period ($225,000 per year). The position will report to the Chief Executive Officer of the Company and be located in our
Houston, Texas headquarters. 

  

	 	2.	Bonus. Commencing in 2010, you will be eligible to receive a year-end cash bonus of up to 60% of your base salary to be determined by the Company.

  

	 	3.	Stock Options: You will be eligible to receive a grant of 100,000 shares of non-qualified stock options under the Company’s Incentive Plan, with an exercise
price equal to the average of the Company’s high and low stock price on that date of grant. These options will have a 10-year life and will vest in one-third increments on the later of each anniversary of your grant date. These options will be
granted on the first day of your employment with the Company. 

  

	 	4.	Benefits. All benefits will be in accordance with Company policies, plans and procedures including but not limited to: 

 

	 	A.	Health insurance under the Company’s health care plan. 

  

	 	B.	Dental insurance under the Company’s health care plan. 

  

	 	C.	Life insurance contingent upon your enrollment in the health insurance benefit program. 

 

	 	D.	Disability insurance under the Company insurance program. 

  

	 	E.	Participation in the Company’s 401 (k) Plan, with the benefit of a Company matching contribution. 

 

	 	5.	Vacation. You will be entitled to three weeks vacation annually or such greater amount as Company policy may permit. 

 

	 	6.	Drug Test and Background Check. This offer is conditioned on your passing a routine drug test in accordance with Company policy and the Company’s
satisfactory review of a background check on you. 

	 	7.	Employee Confidentiality, Assignment of Inventions and Non-compete Agreement. Enclosed is a copy of the Omega Protein Employee Confidentiality, Assignment of
Inventions and Non-compete Agreement. The offer is also conditional on our mutual execution of this Agreement. 

 Any other
benefits are covered in the Omega Employee Handbook and/or Policies and Procedures Manual and are subject to Company policy. 
 As you know,
this letter does not serve as an employment contract. Employment is for no fixed duration and may be terminated by either party at any time for any reason. 

By executing and returning this letter, you are also confirming that you are not subject to any non-competition agreement, non-solicitation agreement or
other restrictive covenant from your current employer or any other party. 
 If you agree with the terms and conditions of this offer and
confirm the above paragraph, I would appreciate your signing this letter and the attached agreement and returning these to me by April 16, 2010. 

Bret, we are very excited about your joining Omega Protein and we look forward to a long, mutually profitable relationship as we build a first class
company together. 
 Sincerely, 
  

					
	AGREED and ACCEPTED:	 	 	 	 
			
	  
	 	Date:	 	  

	Bret ScholtesStock Option Agreement between the Company and Bret Scholtes

 Exhibit 10.2 

NONSTATUTORY STOCK OPTION AGREEMENT 

OMEGA PROTEIN CORPORATION 

2006 INCENTIVE PLAN 

This Stock Option Agreement (the “Agreement”), is entered into as of April 28, 2010 between Omega Protein
Corporation, a Nevada corporation (the “Company”), and Bret Scholtes (the “Optionee”). 

WITNESSETH: 

WHEREAS, the Company has adopted the Omega Protein Corporation 2006 Incentive Plan (the “Plan”) to encourage officers,
employees, outside directors and consultants of the Company and its Subsidiaries to acquire or increase their ownership interest in the Company and to provide a means whereby they may develop a sense of proprietorship and personal involvement in the
development and financial success of the Company, and to encourage them to remain with and devote their best efforts to the business of the Company thereby advancing the interests of the Company and its stockholders; and 

WHEREAS, the Plan provides that such selected individuals may be granted a certain number of Options (as defined in the Plan) to purchase
shares of the Common Stock, par value $.0l per share (“Common Stock”), of the Company to provide them with an ownership interest in the growth of the Company; and 

WHEREAS, the Optionee has been selected to receive such award; 

NOW, THEREFORE, in consideration of the premises, the terms and conditions set forth herein, the mutual benefits to be gained by the
performance thereof and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Grant of Option. Pursuant to the Plan, the Company grants Optionee an option (the “Option” or
“Stock Option”) to purchase 100,000 full shares (the “Optioned Shares”) of Common Stock at an Option Price equal to $6.39 per share. The Date of Grant of this Stock Option is April 28, 2010. The “Option Period”
shall commence on the Date of Grant and shall expire on the date immediately preceding the tenth
(10th) anniversary of the Date of Grant. The Stock
Option is a Nonstatutory Stock Option. 
 2. Subject to Plan. The Stock Option and its exercise are subject to the terms
and conditions of the Plan, and the terms of the Plan shall control to the extent not otherwise inconsistent with the provisions of this Agreement. The capitalized terms used herein that are defined in the Plan shall have the same meanings assigned
to them in the Plan. The Stock Option is subject to any rules promulgated pursuant to the Plan by the Committee. 
 3.
Vesting: Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Stock Option shall 

 
be vested and exercisable as follows (it being understood that the right to purchase Option Shares shall be cumulative so that the Optionee may purchase on or after any such anniversary and
during the remainder of the Option Period those quantifies of Option Shares which the Optionee was entitled to purchase but did not purchase during any preceding period or periods): 

 

	 	a.	With respect to 33.3% of the total Optioned Shares, the Stock Option shall vest and become exercisable on the first anniversary of the Date of Grant provided the
Optionee is employed by (or, if the Optionee is a consultant or an Outside Director, is providing services to) the Company or a Subsidiary on that date. 

  

	 	b.	With respect to 33.3% of the total Optioned Shares, the Stock Option shall vest and become exercisable on the second anniversary of the Date of Grant provided the
Optionee is employed by (or, if the Optionee is a consultant or an Outside Director, is providing services to) the Company or a Subsidiary on that date. 

  

	 	c.	With respect to 33.3% of the total Optioned Shares, the Stock Option shall vest and become exercisable on the third anniversary of the Date of Grant provided the
Optionee is employed by (or, if the Optionee is a consultant or an Outside Director, is providing services to) the Company or a Subsidiary on that date. 

  

	 	d.	A Optionee shall become 100% vested in the total Optioned Shares hereunder on the day preceding an event which constitutes a Change in Control as defined in the Plan.

 4. Term; Forfeiture. In the event of Optionee’s termination of employment (or
consulting agreement in the event Optionee is a consultant) with the Company and its Subsidiaries (in each case, a “Termination”) for any reason other than Optionee’s voluntary termination, for Cause or Optionee’s death or
disability, the Option outstanding on such date of Termination, to the extent vested on such date, may be exercised by Optionee (or, in the event of Optionee’s subsequent death, by Optionee’s Heir (as defined below)) within three
(3) months following such Termination, but not thereafter. However, in no event shall the Option be exercisable after the tenth
(10th) anniversary of the Date of Grant. To the
extent the Option is not vested on Optionee’s date of Termination, the Option shall automatically lapse and be canceled unexercised as of such date. 

In the event that the Optionee voluntarily terminates his or her employment (or consulting agreement in the event Optionee is a
consultant) with the Company or a Subsidiary, or if Optionee’s employment or consulting agreement is terminated for Cause, any Option granted pursuant to this Agreement whether vested or unvested shall be forfeited upon the date of the
Optionee’s Termination. Termination for “Cause” shall be termination resulting from (i) the continuing and material failure by the Optionee to fulfill the Optionee’s duties as an employee or consultant of the Company or
willful misconduct or gross neglect in the performance of such duties, (ii) committing fraud, misappropriation or embezzlement in 

 
the performance of the Optionee’s duties as an employee or consultant of the Company, or (iii) the Optionee’s commission of any felony for which the Optionee is convicted and
which, as determined in good faith by the Company, constitutes a crime involving moral turpitude. For the purposes of the definition of Cause, the term “Company” includes Subsidiaries of the Company. 

In the event of Optionee’s Termination by reason of death or disability, as defined by the Committee in its sole
discretion pursuant to the terms of the Plan, the Option shall be fully vested on such date of termination and may be exercised by Optionee or, in the event of Optionee’s death, by the person to whom Optionee’s rights shall pass by will or
the laws of descent and distribution (“Heir”), at any time within the twelve (12) month period beginning on Optionee’s Termination, but not thereafter. However, in no event shall the Option be exercisable after the tenth
(10th) anniversary of the Date of Grant. 

5. Who May Exercise. Subject to the terms and conditions set forth in Sections 3 and 4 above, during the lifetime of the Optionee,
the Stock Option may be exercised only by the Optionee, or by the Optionee’s guardian or personal or legal representative (in the event of his or her disability or by a broker dealer subject to Section 2.3 of the Plan). 

6. No Fractional Shares. The Stock Option may be exercised only with respect to full shares, and no fractional share of stock
shall be issued. 
 7. Manner of Exercise. Subject to such administrative regulations as the Committee may from time to
time adopt, the Option may be exercised by the delivery of written notice to the Committee or designated Company representative setting forth the number of shares of Common Stock with respect to which the Option is to be exercised, the date of
exercise thereof (the “Exercise Date”) which shall be at least three (3) days after giving such notice unless an earlier time shall have been mutually agreed upon. On the Exercise Date, the Optionee shall deliver to the Company
consideration with a value equal to the total Option Price of the shares to be purchased, payable to the Company in full in either: (i) in cash or its equivalent, or (ii) subject to prior approval by the Committee in its discretion, by
tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the total Option Price (provided that the Shares which are tendered must have been held by the Optionee for at least six (6) months
prior to their tender to satisfy the Option Price), or (iii) subject to prior approval by the Committee in its discretion, by withholding Shares which otherwise would be acquired on exercise having an aggregate Fair Market Value at the time of
exercise equal to the total Option Price, or (iv) subject to prior approval by the Committee in its discretion, by a combination of (i), (ii), and (iii) above. Any payment in Shares shall be effected by the surrender of such Shares to the
Company in good form for transfer and shall be valued at their Fair Market Value on the date when the Stock Option is exercised. Unless otherwise permitted by the Committee in its discretion, the Optionee shall not surrender, or attest to the
ownership of, Shares in payment of the Option Price if such action would cause the Company to recognize compensation expense (or additional compensation expense) with respect to the Option for financial reporting purposes. 

 The Committee, in its discretion, also may allow the Option Price to be paid with such other
consideration as shall constitute lawful consideration for the issuance of Shares (including, without limitation, effecting a “cashless exercise” with a broker of the Option), subject to applicable securities law restrictions and tax
withholdings, or by any other means which the Committee determines to be consistent with the Plan’s purpose and applicable law. A “cashless exercise” of an Option is a procedure by which a broker provides the funds to the Optionee to
effect an Option exercise, to the extent consented to by the Committee in its discretion. At the direction of the Optionee, the broker will either (i) sell all of the Shares received when the Option is exercised and pay the Optionee the
proceeds of the sale (minus the Option Price, withholding taxes and any fees due to the broker) or (ii) sell enough of the Shares received upon exercise of the Option to cover the Option Price, withholding taxes and any fees due the broker and
deliver to the Optionee (either directly or through the Company) a stock certificate for the remaining Shares. 
 As soon as
practicable after receipt of a written notification of exercise and full payment, the Company shall deliver, or cause to be delivered, to or on behalf of the Optionee, in the name of the Optionee or other appropriate recipient, Share certificates
for the number of Shares purchased under the Option. Such delivery shall be effected for all purposes when the Company or a stock transfer agent of the Company shall have deposited such certificates in the United States mail, addressed to Optionee
or other appropriate recipient. 
 If the Optionee fails to pay for any of the Shares specified in such notice or fails to
accept delivery thereof, then the Option, and right to purchase such Shares may be forfeited by the Company. 
 8.
Nonassignability. The Stock Option is not assignable or transferable by the Optionee except by will or by the laws of descent and distribution or pursuant to a domestic relations order that would qualify as a qualified domestic relations
order as defined in Section 414(p) of the Code, if such provision were applicable to the Stock Option and as otherwise permitted under Section 5.2 of the Plan. 

9. Rights as Stockholder. The Optionee will have no rights as a stockholder with respect to any shares covered by the Stock Option
until the issuance of a certificate or certificates to the Optionee for the Optioned Shares. The Optioned Shares shall be subject to the terms and conditions of this Agreement and Plan regarding such Shares. Except as otherwise provided in
Section 10 hereof, no adjustment shall be made for dividends or other rights for which the record date is prior to the issuance of such certificate or certificates. 

10. Adjustment of Number of Optioned Shares and Related Matters. The number of shares of Common Stock covered by the Stock Option,
and the Option Prices thereof, shall be subject to adjustment in accordance with Section 5.5 of the Plan. 
 11.
Nonstatutory Stock Option. The Stock Option shall not be treated as an Incentive Stock Option. 

 12. Community Property. Each spouse individually is bound by, and such spouse’s
interest, if any, in any Shares is subject to, the terms of this Agreement. Nothing in this Agreement shall create a community property interest where none otherwise exists. 

13. Optionee’s Representations. Notwithstanding any of the provisions hereof, the Optionee hereby agrees that he will not
exercise the Stock Option granted hereby, and that the Company will not be obligated to issue any shares to the Optionee hereunder, if the exercise thereof or the issuance of such shares shall constitute a violation by the Optionee or the Company of
any provision of any law or regulation of any governmental authority or Company policies, or the rules of the stock exchange on which the Common Stock is listed. Optionee acknowledges and agrees that if he or she is an officer, director or key
employee of the Company, Optionee will be subject to the Company’s securities trading policy as it may be in effect from time to time and which may “black out” periods of time during which the Stock Option may not be exercised or
which may also limit the amount of Shares that may be purchased or sold to a number that is less than requested by the Optionee. Any determination in this connection by the Company shall be final, binding, and conclusive. The obligations of the
Company and the rights of the Optionee are subject to all applicable laws, rules, and regulations, rules of the stock exchange on which the Common Stock is listed and policies of the Company. 

14. Investment Representation. The Optionee represents and warrants to the Company that all Common Stock which may be purchased
hereunder will be acquired by the Optionee for investment purposes for his own account and not with any intent for resale or distribution in violation of federal or state securities laws. 

15. Optionee’s Acknowledgments. The Optionee acknowledges receipt of a copy of the Plan, and represents that he or she is
familiar with the terms and provisions thereof, and hereby accepts this Option subject to all the terms and provisions thereof. The Optionee hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Committee,
the Company or the Board, as appropriate, upon any questions arising under the Plan or this Agreement. 
 16. Law
Governing. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Nevada (excluding any conflict of laws rule or principle of Nevada law that might refer the governance, construction, or
interpretation of this agreement to the laws of another state). 
 17. No Right to Continue Service or Employment.
Nothing herein shall be construed to confer upon the Optionee the right to continue in the employ or to provide services to the Company, its Affiliates or any Parent or Subsidiary or their Affiliates, whether as an employee or as a consultant or as
an Outside Director, or interfere with or restrict in any way the right of the Company or any of the other foregoing entities to discharge the Optionee as an employee, consultant or Outside Director at any time. 

18. Legal Construction. In the event that any one or more of the terms, provisions, or agreements that are contained in this
Agreement shall be held by a Court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect for any reason, the invalid, 

 
illegal, or unenforceable term, provision, or agreement shall not affect any other term, provision, or agreement that is contained in this Agreement and this Agreement shall be construed in all
respects as if the invalid, illegal, or unenforceable term, provision, or agreement had never been contained herein. 
 19.
Covenants and Agreements as Independent Agreements. Each of the covenants and agreements that is set forth in this Agreement shall be construed as a covenant and agreement independent of any other provision of this Agreement. The existence of
any claim or cause of action of the Optionee against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements that are set forth in this
Agreement. 
 20. Entire Agreement. This Agreement together with the Plan supersede any and all other prior
understandings and agreements, either oral or in writing, between the parties with respect to the subject matter hereof and constitute the sole and only agreements between the parties with respect to the said subject matter. All prior negotiations
and agreements between the parties with respect to the subject matter hereof are merged into this Agreement. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made
by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement or the Plan and that any agreement, statement or promise that is not contained in this Agreement or the Plan shall not be valid or binding or of any
force or effect. 
 21. Parties Bound. The terms, provisions, and agreements that are contained in this Agreement shall
apply to, be binding upon, and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, and permitted successors and assigns, subject to the limitation on assignment expressly set forth
herein. No person or entity shall be permitted to acquire any Optioned Shares without first executing and delivering an agreement in the form satisfactory to the Company making such person or entity subject to the restrictions on transfer contained
herein. 
 22. Modification. No change or modification of this Agreement shall be valid or binding upon the parties
unless the change or modification is in writing and signed by the parties. Notwithstanding the preceding sentence, the Company may amend the Plan or revoke this Stock Option to the extent permitted by the Plan. 

23. Headings. The headings that are used in this Agreement are used for reference and convenience purposes only and do not
constitute substantive matters to be considered in construing the terms and provisions of this Agreement. 
 24. Gender,
Number and Term Optionee. Words of any gender used in this Agreement shall be held and construed to include any other gender, and words in the singular number shall be held to include the plural, and vice versa, unless the context requires
otherwise. Whenever the term “Optionee” is used herein under circumstances applicable to any other person or persons to whom this award may be assigned in accordance with the provisions of Paragraph 8, the term “Optionee” shall
be deemed to include such person or persons. 

 25. Independent Legal and Tax Advice. Optionee acknowledges that the Company has
advised Optionee to obtain independent legal and tax advice regarding the grant and exercise of the Option and the disposition of any Shares acquired thereby. 

26. Notice. Any notice required or permitted to be delivered hereunder shall be deemed to be delivered only when actually received
by the Company or by the Optionee, as the case may be, at the addresses set forth below, or at such other addresses as they have theretofore specified by written notice delivered in accordance herewith: 

 

	 	a.	Notice to the Company shall be addressed and delivered as follows: 

Omega Protein Corporation 

2101 CityWest Blvd. 

Bldg. 3, Suite 500 

Houston, TX 77042 

Attn:    John Held, Executive Vice President 

             and General Counsel 

Fax:      (713) 940-6122 

 

	 	b.	Notice to the Optionee shall be addressed and delivered to Optionee’s address as set forth in the Company’s records. 

27. Tax Requirements. 
  

	 	a.	Tax Withholding. This Option is subject to and the Company shall have the power and the right to deduct or withhold, or require the Optionee to remit to the
Company, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of the Plan and this Option. 

 

	 	b.	Share Withholding. With respect to tax withholding required upon the exercise of Stock Options or upon any other taxable event arising as a result of the Stock
Option, Optionee may elect, subject to the approval of the Committee in its discretion, to satisfy the withholding requirement, in whole or in part, by having the Company withhold Shares having a Fair Market Value on the date the tax is to be
determined equal to the minimum statutory total tax which could be imposed on the transaction. All such elections shall be made in writing, signed by the Optionee, and shall be subject to any restrictions or limitations that the Committee, in its
discretion, deems appropriate. Any fraction of a Share required to satisfy such obligation shall be disregarded and the amount due shall instead be paid in cash by the Optionee. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer, and the Optionee, to evidence his consent and approval of all the terms hereof, has duly executed this Agreement, as of the date specified in Section 1 hereof. 

 

	
	COMPANY:
	
	OMEGA PROTEIN CORPORATION
	
	By:
	Name: John D. Held
	Title: Executive Vice President
	
	OPTIONEE:
	
	BRET SCHOLTES

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