Document:

Incentive Bonus Pool Plan

 EXHIBIT 10.5 
  
 GEOMET, INC. 
 INCENTIVE BONUS POOL PLAN 
  
 THIS
INCENTIVE BONUS POOL PLAN, made and executed at Bessemer, Alabama, by GeoMet, Inc., an Alabama corporation (the “Company”), is being established to provide a performance incentive for certain key management, technical and professional
employees of the Company and its subsidiaries. 
  
  
 ARTICLE I. 
  
 DEFINITIONS 
  
 Section 1.1 Definitions. Unless the context clearly indicates otherwise, when used in this Plan: 
  
 (a)    “Award” means a grant of a Pool Unit under the Incentive Bonus Pool as evidenced by an Award
Agreement. 
  
 (b)    “Award Agreement” shall mean the written agreement between the Company and a Participant in the form attached hereto as Exhibit A evidencing the grant of an Award. 
  
 (c)    “Board” means the Board
of Directors of the Company. 
  
 (d)    “Change of Control” means a change of control of the Company after the date of this Agreement if (i) individuals who were directors of the Company immediately prior to a Control Transaction (as
defined below) shall cease, within one year of such Control Transaction, to constitute a majority of the Board or any successor to the Company or to a company which has acquired all or substantially all its assets or (ii) any entity, person or
group (other than a beneficial owner of Company securities as of the date hereof) acquires shares of the Company in a transaction or series of transactions that result in such entity, person or group directly or indirectly owning beneficially 50% or
more of the outstanding shares of common stock of the Company. As used in this definition, the term “Control Transaction” shall mean (A) any tender offer for or acquisition of capital stock of the Company, (B) any merger,
consolidation or sale of all or substantially all the assets of the Company, or (C) any combination of the foregoing that results in a change in voting power sufficient to elect a majority of the Board. 
  
 (e)    “Committee” means the
Compensation Committee of the Board or such other committee appointed pursuant to Section 2.1 to administer the Plan. 
  
 (f)    “Company” means GeoMet, Inc., an Alabama corporation, and if the context so permits, its
subsidiaries. 
  

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 (g)    “Distributable Net Income” means an amount equal to
2% (or such greater percentage as the Board may determine in its sole discretion for any particular Plan Year) of the Company’s consolidated pre-tax net income for a particular Plan Year, as determined by the Committee based upon the annual
unaudited financial statements of the Company. 
  
 (h)    “Incentive Bonus” means an amount equal to the aggregate amount of Distributable Net Income represented by a Participant’s Pool Units in an Incentive Bonus Pool for a Plan Year. 
  
 (i)    “Incentive Bonus Pool”
means an account established and maintained by the Committee pursuant to Section 4.2 below to record the Distributable Net Income available for distribution under the Plan for any particular Plan Year. 
  
 (j)    “Participant” means an
employee of the Company or its subsidiaries who has been granted an Award under this Plan in a particular Incentive Bonus Pool and whose interest therein has not been fully paid or forfeited. 
  
 (k)    “Permanent Disability”
means the total and permanent incapacity of a Participant to perform the usual duties of his or her employment with the Company or its subsidiaries as determined by the Committee. Such incapacity shall be deemed to exist when certified by a
physician who is acceptable to the Committee. 
  
 (l)    “Plan” means this GeoMet, Inc. Incentive Bonus Pool Plan as from time to time in effect. 
  
 (m)  “Plan Year” means the calendar year. The Company’s initial Plan Year shall be the calendar year ending
December 31, 2001. 
  
 (n)    “Pool Unit” means a fictional participation unit in a particular Incentive Bonus Pool for a Plan Year. 
  
 (o)    “Termination Date” means the effective date of termination of the Participant’s employment with
the Company or any of its subsidiaries, which date shall be (i) if the Participant’s employment is terminated by his death, the date of his death, (ii) if the Participant’s employment is terminated by his Permanent Disability,
the date that the Committee determines by written notice to the Participant that it has determined that the Participant has a Permanent Disability, and (iii) if the Participant’s employment is terminated for any other reason, the last day
of the Participant’s employment with the Company or any of its subsidiaries. 
  

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 ARTICLE II. 
  
 PLAN ADMINISTRATION 
  
 Section 2.1 Committee. This Plan shall be administered by the Compensation Committee of the Board or any other Committee composed of at least
two individuals appointed by the Board. Each member of the Committee so appointed shall serve in such office until his or her death, resignation or removal by the Board. The Board may remove any member of the Committee at any time by giving written
notice thereof to the members of the Committee. Vacancies shall likewise be filled from time to time by the Board. 
  
 Section 2.2 Committee Duties and Powers. Subject to the express terms and conditions set forth in the Plan, the Committee shall have all the
powers vested in it by the provisions of the Plan, including the exclusive authority to prescribe the terms and conditions (which need not be identical) of each Award, and to prescribe the form of any agreements, including but not limited to the
Award Agreements, to be entered into with any Participant and, whether a Participant’s employment has been terminated by the Company. In addition, the Committee shall have the exclusive authority to construe and interpret the Plan and any
Awards granted thereunder, to establish, amend and revoke rules and regulations and to make any other determinations for the administration of the Plan, including, but not limited to, correcting any defect or supplying any omission, or reconciling
any inconsistency in the Plan or any Award, in the manner and to the extent it shall deem necessary or advisable to make the Plan fully effective and to promote the best interests of the Company with respect thereto; provided, however, that, except
with a Participant’s consent, no such action by the Committee shall deprive a Participant of his right with respect to any Awards theretofore granted. 
  
 Section 2.3 Committee Indemnity. The Company shall indemnify and hold harmless each member of the Committee against any claim, cost, expense
(including attorneys’ fees), judgment or liability (including any sum paid in settlement of a claim with the approval of the Company) arising out of any act or omission to act as a member of the Committee under this Plan, except in the case of
willful misconduct. 
  
 Section 2.4 Committee
Determinations Final. Any and all decisions and determinations by the Committee or the Board in the exercise of its power shall be final and binding upon the Company, each Participant and each beneficiary designated pursuant to Section 6.

  
 ARTICLE III. 
  
 PLAN PARTICIPATION 
  
 Section 3.1 Eligible Employees. Each employee of the Company or
any of its subsidiaries (other than a Committee member) who is determined by the Committee to be a key managerial, technical or professional employee shall be eligible to receive an Award under this Plan. The Committee, subject to the review of the
Board, shall have full and final authority to select eligible employees of the Company to become Participants in the Plan. 
  

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 Section 3.2 Designation of Participants and Interests. Subsequent to the end of each Plan
Year, the Committee (subject to the review of the Board in its absolute discretion) (i) shall designate which of the eligible employees of the Company will participate in the Incentive Bonus Pool to be established for the immediately preceding
Plan Year pursuant to Section 4.2, and (ii) shall designate the number of Pool Units that each Participant will have in such Incentive Bonus Pool, not to exceed 1,000 Pool Units for all Participants in the aggregate. Nothing in this Plan
shall obligated the Committee to award all of the 1,000 Pool Units. An employee designated by the Board to be a Participant in a particular Incentive Bonus Pool shall participate in such Incentive Bonus Pool until the termination of his or her
interest therein as provided in this Plan. 
  
 ARTICLE IV.

  
 TERMS AND CONDITIONS OF INCENTIVE BONUS AWARDS 
  
 Section 4.1 Nature of Incentive Bonus Pool Units. Awards made
under the Plan shall be in the form of Pool Units which are fictional ownership units in the Incentive Bonus Pool. Each Pool Unit shall entitle the Participant to receive an amount equal to 1/1000 of an Incentive Bonus Pool, to be paid in cash to a
Participant in accordance with the Award Agreement and the rules set forth herein. Pool Units shall be evidenced by an Award Agreement as described in Section 4.4 below. Pool Units shall not entitle a Participant to any dividend, voting right
or other rights of a holder of shares of capital stock of the Company. 
  
 Section 4.2 Incentive Bonus Pool. The Committee shall establish an Incentive Bonus Pool for the Company’s initial Plan Year ending December 31, 2001, and a separate Incentive Bonus Pool for each subsequent Plan Year
commencing after December 31, 2001. Each Incentive Bonus Pool shall be designated by the year with respect to which it is established (e.g., the first Incentive Bonus Pool being designated the “2001 Incentive Bonus Pool”) and
shall continue in existence for accounting purposes until terminated in accordance with this Plan. 
  
 Section 4.3 Available New Pool Units. The maximum number of Pool Units that may be granted pursuant to the Plan with respect to any particular
Incentive Bonus Pool, shall not exceed 1,000 Units. 
  
 Section 4.4 Award of New Pool Units. Prior to March 15 next following the end of each Plan Year, the Committee may award Pool Units to those employees who it determines in its discretion satisfy the eligibility requirements
of Section 3.1. Such determinations will be subject to the review of the Board. Each Award Agreement issued pursuant to the Plan shall specify the applicable number of Pool Units being awarded and such other terms and conditions not
inconsistent with the provisions of the Plan as may be approved by the Committee in its discretion. As an example of the foregoing, with respect to the 2001 Incentive Bonus Pool, the Committee shall meet on or prior to March 15, 2002 in order
to award Pool Units for the 2001 Incentive Bonus Pool to eligible employees. No award of Pool Units for any particular Plan Year shall entitle such Participant to an award of an equal number of Pool Units for any succeeding Plan Year. 
  

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 Section 4.5 Payment of Incentive Bonus Amounts. The payment of any Incentive Bonus awarded
under the Plan with respect to any Plan Year shall occur over a three-year period. The first Incentive Bonus payment with respect to an Incentive Bonus Pool for a Plan Year shall be equal to fifty percent (50%) of the Incentive Bonus and shall
be paid on or prior to March 31 of the year next succeeding such Plan Year. The remaining Incentive Bonus amount for such Plan Year shall be paid in two equal installments on or before March 31 of each of the second and third succeeding
years, respectively, subject in each case to the provisions of Article V, including each Participant’s continuing employment by the Company. 
  
 ARTICLE V. 
  
 TERMINATION OF EMPLOYMENT AND FORFEITURE OF INCENTIVE BONUS POOL UNITS 
  
 5.1    Termination of Employment. An individual shall cease to be a Participant in the Plan on his Termination Date and all of
the Participant’s Pool Units covered by Incentive Bonus Awards shall be payable based upon the rules set forth herein. 
  
 5.2    Death or Disability. If a Participant dies or incurs a Permanent Disability, the Participant’s unpaid Incentive
Bonus shall not be forfeited or canceled, and the Company shall pay to the Participant or the Participant’s estate, as the case may be, the Participant’s Incentive Bonus (if any) payable in respect to any Incentive Bonus Pool for a prior
Plan Year for which the Participant was awarded Pool Units that has yet to be paid. Such amount shall be paid at such times as set forth in Section 4.5. 
  
 5.3    Change of Control. In the event of a Change of Control, each Participant’s unpaid Incentive Bonus as of the time of
such Change of Control shall become fully vested and not subject to termination in any event, and shall be paid at such times as set forth in Section 4.5 regardless of whether the Participant’s employment terminates for any reason after
such Change of Control. If a Change of Control event occurs during any particular Plan Year, the Board will have the discretion to determine whether any Incentive Bonus earned for such Plan Year shall become fully vested, pro rated (based on the
number of days in such Plan Year before and after the Change of Control) or subject to future termination on account of the termination of such Participant’s employment pursuant to Section 5.4. In the event that the Plan continues in
effect for subsequent Plan Years after the Change of Control, such subsequent Plan Years will be subject to the rules set forth herein as if such Change of Control had not occurred. 
  
 5.4    Voluntary Termination. If a Participant’s employment terminates for any reason other
than death or Permanent Disability and the provisions of Section 5.3 do not otherwise apply at any time after the execution of this Agreement, any remaining unpaid Incentive Bonus and any Pool Units for the current Plan Year shall be forfeited
and canceled. 
  

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 ARTICLE VI. 
  
 DESIGNATION OF BENEFICIARY 
  
 6.1    Designation of Beneficiary. A Participant may designate a person or persons to receive any benefits related to his Pool
Units or Incentive Bonus to which he would be entitled in respect of an Award in the event of his death. Such designation shall be made on a form to be provided by the Committee. A Participant may revoke or change his designation from time to time
in the same manner. If no designated beneficiary is living on the date on which any amount becomes payable, or, if a Participant fails effectively to designate a beneficiary, the term “beneficiary” as used in the Plan shall mean a
Participant’s estate. 
  
 ARTICLE VII. 
  
 AMENDMENT; TERMINATION 
  
 7.1    Amendment. The Plan may be amended at any
time and from time to time by the Board; provided, however, that no such amendment shall, without their consent, deprive Participants of their rights with respect to any Pool Units or Incentive Bonus theretofore granted; provided, that the Board
shall have the right to accelerate any outstanding payments to a Participant. 
  
 7.2    Termination. The Board may in its discretion terminate this Plan at any time; provided, however, that the administration of the Plan shall thereafter continue in connection with
outstanding and unpaid Incentive Bonus; and, provided, further, that the Board shall have the exclusive authority to determine, in its sole discretion, that all payments to Participants in respect of any outstanding and unpaid Incentive Bonus shall
be accelerated and paid to Participants in a lump sum cash payment as soon as practicable following the termination of the Plan. 
  
 ARTICLE VIII. 
  
 MISCELLANEOUS PROVISIONS 
  
 8.1    Employment Noncontractual. The establishment of the Plan shall not enlarge or otherwise affect the terms of any Participant’s employment with the Company and the Company may
terminate a Participant’s employment as freely and with the same effect as if this Plan had not been established. 
  
 8.2    Non-Assignability. A Participant’s rights and interest under the Plan or any Award Agreement may not be assigned,
transferred or alienated in whole or in part either directly or by operation of law or otherwise, including but not by way of limitation, execution, levy, garnishment, attachment, pledge, bankruptcy or in any other manner and no such right or
interest of any Participant in the Plan or under any Award Agreement shall be subject to any debt, obligation or liability of such Participant. 
  

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 8.3    Unfunded Arrangement. The benefits to be paid pursuant to the Plan are
unfunded and unsecured and shall be payable from the general assets of the Company, and the Participants shall have no interest in the assets of the Company or in any account maintained by the Company for its own convenience by virtue of the Plan.
No fund or other assets will ever be set aside or segregated for the benefit of any Participant. The Plan merely grants the Participant a contractual right to receive future payments. If any funds are set aside by the Company for its convenience for
purposes of payment of benefits hereunder, such funds shall be solely the property of the Company and, notwithstanding such setting aside, shall remain subject to the claims of the Company’s general creditors. 
  
 8.4    Governing Law. Except where superseded by
federal law, this Plan and the rights of all individuals claiming benefits hereunder shall be governed by and construed in accordance with the internal laws of the State of Alabama without giving effect to the choice of law principles thereof.

  
 8.5    Acceptance. By accepting any
Award or other benefit under the Plan, each Participant and each person claiming under or through him shall be conclusively deemed to have indicated his acceptance and ratification of, and consent to, any action taken under the Plan by the Company,
the Board or the Committee. 
  
 IN WITNESS WHEREOF, this Plan has
been executed as of May     , 2001 to be effective as of the 2001 Plan Year. 
  

					
	GEOMET, INC.
		
	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

  

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 Exhibit A 
  

Form of Award Agreement 
              Incentive Bonus Pool 
  
 This Award Agreement (this “Agreement”), made and entered into as of
                        , 200  , is by and between GeoMet, Inc., an Alabama corporation (the
“Company”), and                  (the “Participant”). 
  

WITNESSETH: 
  
 WHEREAS, the Company has adopted that certain Incentive Bonus Pool Plan (the “Plan”) for certain key management, technical and professional
employees of the Company and its subsidiaries; and 
  
 WHEREAS,
the Participant is an employee of the Company eligible to participate in the Plan; and 
  
 WHEREAS, the Committee has made a determination to make an Award to the Participant in the              Incentive Bonus Pool (the “Incentive
Bonus Pool”) pursuant to the Plan and upon the terms set forth herein; 
  
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements hereinafter set forth, the Company and Participant hereby agree as follows: 
  
 1.    Certain Definitions. Terms used in this
Agreement and not otherwise defined shall have the respective meanings assigned to such terms in the Plan. 
  
 2.    The Plan. The terms and provisions of the Plan are hereby incorporated into this Agreement as if set forth herein in
their entirety. In the event of a conflict between any provision of this Agreement and the Plan, the provisions of the Plan shall control. A copy of the Plan may be obtained from the Company by the Participant upon request. 
  
 3.    Grant of Pool Units. Subject to the terms
and conditions hereinafter set forth, the Company hereby irrevocably grants to the Participant              Pool Units in the Incentive Bonus Pool. 
  
 4.    Vesting. The payment of the Incentive Bonus,
if any, will be made over a three year period as set forth in the Plan. 
  
 5.    Dispute Resolution. In the event of any controversy, claim, dispute or question concerning this Agreement or the Plan in any respect (“Dispute”) between the Company and the Participant
(“Disputing Parties”), which cannot be otherwise informally resolved by the Disputing Parties themselves, the Disputing Parties will utilize the procedures specified in this paragraph (the “Procedure”) to resolve the dispute. The
Disputing Party seeking to initiate the Procedure (the “Initiating Party”) shall give written notice to the other party, describing in 

  

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general terms the nature of the Dispute and the Initiating Party’s claim for relief. The Disputing Party receiving such notice (the “Responding
Party”) and the Initiating Party shall meet at the Company’s offices at a mutually acceptable time within ten (10) business days of such receipt to attempt to settle the Dispute. The Disputing Parties agree to participate in good
faith to resolve the Dispute. If the Dispute has not been resolved within five (5) business days from the date of their initial meeting, either of the Disputing Parties may submit the Dispute to arbitration in accordance with the Center for
Public Resources Rules for Non-Administered Arbitration of Business Disputes by three arbitrators, of whom each Disputing Party shall appoint one. The arbitration shall be governed by the United State Arbitration Act, 9 U.S.C. Sections 1-16, and
judgment upon the award rendered by the arbitrators may be entered by any court having jurisdiction thereof. The place of the arbitration shall be in the Birmingham, Alabama area or such other place as the parties shall mutually agree. The Disputing
Parties shall equally bear and pay all costs of arbitration proceedings hereunder. 
  
 6.    Certain Rights Incident to Divorce. If an interest in the Incentive Bonus awarded hereby is required by law to be transferred to a spouse of the Participant pursuant to an order of a
court in a divorce proceeding, any interest of such spouse shall be subject to the rights of the Participant and shall be subject to vesting and forfeiture as described in the Plan. 
  
 7.    Tax Withholding. The Participant acknowledges that the Company shall withhold all required
federal, state and local withholding tax and employment tax requirements relating to payments of the Incentive Bonus. 
  
 8.    Participant’s Employment. Nothing contained in the Plan or in this Agreement shall confer upon the Participant any
right with respect to the continuation of his employment by or service with the Company or interfere in any way with the right of the Company (subject to the terms of any separate agreement to the contrary) at any time to terminate such employment
or service or to increase or decrease the compensation of the Participant from the rate in existence at the date of this Agreement. 
  
 9.    Notices. All notices required or permitted to be given hereunder shall be in writing and shall be deemed to have been
given on the earlier of the date of receipt by the party to whom the notice is given or five days after being mailed by certified or registered United States mail, postage prepaid, addressed to the appropriate party at the address shown beside such
party’s signature below or at such other address as such party shall have theretofore designated by written notice given to the other party. 
  
 10.  Gender. Words used in this Agreement which refer to the Participant and denote the male gender shall also be deemed to include the
female gender or the neuter gender when appropriate. 
  
 11.  GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF ALABAMA (REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER APPLICABLE ALABAMA PRINCIPLES OF CONFLICTS
OF LAW). 
  

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 12.  Counterparts. This Agreement may be signed in counterparts, each of which shall be
deemed an original and all of which shall constitute one and the same agreement. 
  
 * * * * * * * * * * 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above.

  
 Addresses: 

			
	THE COMPANY:
	
	GEOMET, INC.
		
	By:	 	  

	
	PARTICIPANT:
	
	  

  
 Pursuant to Section 6.1 of
the Plan, the Participant hereby designates the following person or persons as beneficiaries to receive any benefits related to his Pool Units in the event of his death: 
  

					
	  

	 	Percentage of Benefits:	 	  

			
	  

	 	Percentage of Benefits:	 	  

			
	  

	 	Percentage of Benefits:	 	  

  

 -4-Employment Agreement, William C. Rankin

 EXHIBIT 10.6 
  
 EMPLOYMENT AGREEMENT 
  
 EMPLOYMENT AGREEMENT (this “Agreement”), dated as of December 7, 2000, between GeoMet Resources, Inc., a Delaware corporation (the
“Company”), and William C. Rankin, an individual residing in Houston, Texas (the “Employee”). 
  
 WHEREAS, the Company is party to that certain Stock Purchase Agreement of even date herewith, pursuant to which the Company is acquiring 80% of the
outstanding voting securities of the GeoMet, Inc., an Alabama corporation (“GeoMet”); 
  
 WHEREAS, the Company and GeoMet are parties to that certain Administrative Services Agreement of even date herewith, pursuant to which the Company will
provide financial and management services to GeoMet for a fee; and 
  
 WHEREAS, the Company desires that the Employee perform certain of the management and financial services for GeoMet on behalf of the Company; 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the
Company and the Employee hereby agree as follows: 
  
 1.     Employment. The Company agrees to employ the Employee, and the Employee agrees to remain in the employ of the Company, for the period set forth in Paragraph 2, in the position and with the duties and
responsibilities set forth in Paragraph 3, and upon the other terms and conditions herein provided. 
  
 2.     Term. The employment of the Employee by the Company as provided in Paragraph 1 shall be for a period commencing on the
date of this Agreement through and ending on the date which is three years from the date hereof, unless sooner terminated as herein provided; provided, however, that this Agreement shall automatically extend for successive one year periods unless
the Company or the Employee shall notify the other party of his or its intention not to extend the Agreement at least 90 days prior to such extension (the “Employment Term”). 
  
 3.      Position and Duties. 
  
 (a)     During the Employment Term, the Employee shall serve as Chief Executive Officer and President.
The Employee shall have such duties, functions, responsibilities, and authority as are from time to time delegated to the Employee by the Board of Directors of the Company, provided that such duties, functions, responsibilities, and authority are
reasonable and customary for a person serving in the aforesaid functions of an enterprise comparable to the Company. The Employee shall report and be accountable to the Board of Directors of the Company. 
  
 (b)    During the Employment Term, the Employee shall
devote his full business time, skill, and attention and his best efforts to the business and affairs of the Company to the extent necessary 

  

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to discharge fully, faithfully and efficiently the duties and responsibilities delegated and assigned to the Employee herein or pursuant hereto, except for
usual, ordinary, and customary periods of vacation and absence due to illness or other disability. 
  
 (c)    In connection with the Employee’s employment by the Company under this Agreement, the Employee shall be based at the
principal executive offices of the Company in Houston, Texas, except for such reasonable travel as the performance of the Employee’s duties in the business of the Company may require. 
  
 (d)    All services that the Employee may render to the
Company or any of its subsidiaries or affiliates in any capacity during the Employment Term shall be deemed to be services required by this Agreement and consideration for the compensation provided for herein. 
  
 4.      Compensation and Related Matters.

  
 (a)    Base Salary. During the Employment
Term, the Company shall pay to the Employee for his services hereunder a base salary (“Base Salary”) at the rate of Two Hundred Ten Thousand Dollars ($210,000) per year, payable in installments in accordance with the general payroll
practices of the Company, or as otherwise mutually agreed upon, but no less often than twice monthly. The Employee’s Base Salary shall be subject to such adjustments as may be determined from time to time by the Board of Directors of the
Company (the “Committee”) in its sole discretion; provided, however, in no event shall the Employee’s salary be reduced. 
  
 (b)    Employee Benefits. During the Employment Term, the Employee shall be entitled to participate in all employee benefit plans
(including executive bonus plans, cash bonus awards and long-term incentive plans), programs and arrangements that are generally made available by the Company to its senior executives. In addition to the rights of the Employee set forth in the
preceding sentence, the Company shall provide health, dental, disability and life insurance for Employee under the group health, dental, disability and life insurance plans maintained by the Company for its full-time, salaried employees, and such
benefits, when considered in the aggregate, shall not be materially reduced from current levels. Furthermore, during the Employment Term, the Company shall provide the Employee with membership to a downtown Houston, Texas luncheon club. Also, the
Company shall pay the Employee’s reasonable parking expenses associated with his employment with the Company. In consideration of Employee’s service over the last four months to the Company, the Company shall, within 30 days of the date of
this Agreement, pay Employee a bonus equal to $70,000. 
  
 (c)    Expenses. During the Employment Term, the Employee shall be entitled to receive prompt reimbursement upon a timely basis (according to the then-current practices of the Company) for all reasonable expenses
incurred by the Employee in performing his duties and responsibilities hereunder upon the presentation by the Employee of an itemized monthly accounting of such expenditures, including receipts where required by Company policy or federal income tax
regulations. 
  

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 (d)    Vacations. During the Employment Term, the Employee shall be entitled to five
(5) weeks of paid vacation each year. The Employee shall also be entitled to all paid holidays given by the Company to its senior executives. The Employee agrees to utilize his vacation at such time or times as are (i) consistent with the
proper performance of his duties and responsibilities hereunder and (ii) mutually convenient for the Company and the Employee. At the end of each calendar year during the Employment Term, the Company shall pay the Employee for all accrued but
unused vacation time. 
  
 (e)    Deferred
Bonuses. After each year of the Employment Term, the Company agrees to consider awarding a deferred bonus to the Employee, taking into account the value of the Employee’s services to the Company and such other factors as the Board of Directors
of the Company determines in its sole and absolute discretion, including the compensation paid by other companies to executives with similar skills and experiences to the Employee. The amount of any such bonus, the timing of its payment and all
terms and conditions thereof shall be determined by the Board of Directors of the Company in its sole and absolute discretion. The Company shall not be obligated to set aside any of its assets for purposes of paying any deferred bonus awarded to the
Employee. The Employee acknowledges that any deferred bonus awarded to him will be subject to applicable tax withholding obligations if and when such bonus is paid. 
  
 5.     Termination of Employment. 
  
 (a)    Death. The Employee’s employment hereunder shall terminate automatically upon his death.

  
 (b)    Disability. If the Disability (as
defined below) of the Employee occurs during the Employment Term, the Company may notify the Employee of the Company’s intention to terminate the Employee’s employment hereunder for Disability. In such event, the Employee’s employment
hereunder shall terminate effective on the 30th day following the date such notice of termination is received by the Employee (the “Disability Effective Date”). For purposes of this Agreement, the “Disability” of the Employee
shall be deemed to have occurred at such time as the Board of Directors of the Company determines, in its reasonable discretion, (i) that despite any reasonable accommodation required by law, the Employee is unable to perform the essential
functions of his position hereunder as a result of his physical or mental incapacity and (ii) that such inability has existed or is likely to exist for a period of six months or more. If the Employee disputes the determination of the Company,
the dispute shall be resolved by a mutually agreed upon physician. Upon the failure of the Company and the Employee to agree upon a physician, the Employee and the Company shall each select, at their own expense, a physician, duly licensed to
practice in that field of medicine encompassing the area of alleged disability, to examine Employee. The physicians selected by Employee and the Company, respectively, shall mutually select a third physician, duly licensed to practice in that field
of medicine encompassing the area of alleged disability, to examine Employee. Each such physician selected shall be a disinterested person of recognized competence who, at the time of his or her selection, has no professional or business
relationship with the other physicians selected, Employee or the Company. Thereafter, within a reasonable time period after the selection of the three (3) physicians, not to exceed thirty (30) days after the selection of the final
physician, Employee shall submit to an examination by each such physician. Each physician shall then 

  

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determine whether the Employee is disabled within the meaning of this Agreement, and shall provide written notice of his or her determination to both
Employee and the Company. The decision reached by a majority of the physicians shall be conclusive on the parties hereto. The cost of each physician shall be borne equally by Employee and the Company. In no event shall the good faith determination
of any physician selected pursuant to this Agreement give rise to liability of any kind whatsoever by such physician to either Employee or the Company. 
  
 (c)    Termination by Company. 
  
 (i)    For Cause. The Company may terminate the Employee’s employment hereunder for Cause (as defined below) (a “For Cause
Termination”). For purposes of this Agreement, “Cause” shall mean any of the following: (A) Employee’s willful and continued or repeated failure, for a period of at least 30 calendar days following a written warning from the
Board of Directors, to perform his duties, functions and responsibilities as may be reasonably assigned to him hereunder; (B) the Employee’s willful violation of any material rule, regulation or policy that may be established from time to
time in the Company’s business; (C) the Employee’s unlawful possession, use or sale of narcotics or other controlled substances, or performing job duties while such controlled substances are present in the Employee’s body; or
(D) the Employee’s conviction of or a plea of guilty or no contest to any crime involving an act of moral turpitude; or 
  
 (ii)    Without Cause. The Company may terminate the Employee’s employment hereunder without Cause for any or no reason. For
purposes of this Agreement, a “Without Cause Termination” shall mean a termination by the Company of the Employee’s employment hereunder other than pursuant to a For Cause Termination, or Disability. 
  
 (d)    Termination by Employee. 
  
 (i)    For Good Reason. The Employee may terminate his
employment hereunder if, (A) without Employee’s consent, the Employee is required to be based outside of the Greater Houston Metropolitan Area, (B) a material breach of this Agreement by the Company, which breach shall not have been
cured within 30 days after notice by the Employee to the Company, (C) a material reduction in the Employee’s Base Salary or benefits or his position and responsibilities with the Company (including removal from the board of directors of
GeoMet, Inc.) occurs, without the consent of the Employee, which action shall not have been cured within 30 days after notice by the Employee to the Company, or (D) the Company breaches Section 7.4 of the Stock Acquisition and
Stockholders’ Agreement of even date herewith, among the Company and its shareholders. The Employee understands and agrees, however, that he may be stationed on a temporary basis from time to time outside of the Greater Houston Metropolitan
Area and that such temporary assignments shall not constitute Good Reason to terminate. 
  
 (ii)    Without Reason. The Employee may terminate the Employee’s employment hereunder without cause for any or no reason. For purposes of this Agreement, a “Without Reason
Termination” shall mean a termination by the Employee of the Employee’s employment hereunder other than pursuant to Good Reason Termination. 
  

 4 

 (e)    Notice of Termination. Any termination of the Employee’s employment
hereunder by the Company or by the Employee (other than a termination pursuant to Paragraph 5(a)) shall be communicated by a Notice of Termination (as defined below) to the other party hereto. For purposes of this Agreement, a “Notice of
Termination” shall mean a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) in the case of a termination for Disability or a For Cause Termination or a Good Reason Termination,
sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Employee’s employment under the provision so indicated, and (iii) specifies the Employment Termination Date (as defined in
Paragraph 5(f) below). The failure by the Company or Employee, as applicable, to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Disability, Cause or Good Reason shall not waive any right of the
Company or Employee hereunder or preclude the Company or Employee from asserting such fact or circumstance in enforcing the Company’s or Employee’s rights hereunder. 
  
 (f)    Employment Termination Date. For purposes of this Agreement, “Employment Termination
Date” shall mean the effective date of termination of the Employee’s employment hereunder, which date shall be (i) if the Employee’s employment is terminated by his death, the date of his death, (ii) if the Employee’s
employment is terminated because of his Disability, the Disability Effective Date, (iii) if the Employee’s employment is terminated by the Company pursuant to a For Cause Termination, the date specified in the Notice of Termination, which
date shall in no event be earlier than the date such notice is given, (iv) if the Employee’s employment is terminated by the Company pursuant to a Without Cause Termination, the date specified in the Notice of Termination, (iv) if the
Employee’s employment is terminated by the Employee pursuant to a Good Reason Termination, the date on which the Notice of Termination is given, and (vi) if the Employee’s employment is terminated by the Employee pursuant to a Without
Reason Termination, the date specified in the Notice of Termination, which date shall in no event be earlier than 30 days from receipt of the Notice of Termination. 
  
 (g)    Resignation. In the event of termination of the Employee’s employment hereunder (for any
reason other than the death of the Employee), the Employee agrees that if at such time he is a member of the Board of Directors or officer of the Company or a director or officer of any of its subsidiaries, he will promptly deliver to the Company
his written resignation from all such positions, such resignation to be effective as of the Employment Termination Date. 
  
 6.      Company Obligations Upon Termination of Employment. 
  
 (a)    Death. If the Employee’s employment hereunder is terminated by reason of the Employee’s
death, the Company shall pay to the Employee’s estate, in a lump sum in cash within 15 days after the Employment Termination Date, a sum equal to the Employee’s Base Salary, reimbursable expenses and vacation accrued but unpaid through the
Employment Termination Date. In addition, the Company shall continue to provide at its expense group medical and dental insurance, as in effect at the time of the Employee’s death, to the Employee’s immediate family for a period of 18
months. 
  

 5 

 (b)    Disability. If the Employee’s employment hereunder is terminated by
reason of the Employee’s Disability, the Company shall pay to the Employee, in a lump sum in cash within 15 days after the Employment Termination Date, a sum equal to the Employee’s Base Salary, reimbursable expenses and vacation accrued
but unpaid through the Employment Termination Date. In addition, the Company shall continue to provide at its expense group medical and dental insurance, as in effect on the Employment Termination Date, to the Employee and to the Employee’s
immediate family for a period of 18 months after the Employment Termination Date. 
  
 (c)    For Cause Termination. If the Employee’s employment hereunder is terminated pursuant to a For Cause Termination, the Company shall pay to the Employee, in a lump sum in cash within 15
days after the Employment Termination Date, the Employee’s Base Salary, reimbursable expenses and vacation accrued but unpaid through the Employment Termination Date, to the extent not theretofore paid, and, thereafter, the Company shall have
no further obligations to the Employee under this Agreement. 
  
 (d)    Without Cause Termination and Good Reason Termination. If the Employee’s employment hereunder is terminated by reason of a Without Cause Termination or a Good Reason Termination, the Company shall pay to the
Employee a sum equal to 18 month’s Base Salary at the Employee’s last current rate plus the Employee’s Base Salary, reimbursable expenses and vacation accrued but unpaid through the Employment Termination Date and shall continue to
provide group medical and dental insurance at the Company’s expense, as in effect on the Employment Termination Death, to the Employee and to the Employee’s immediate family for a period of 18 months after the Employment Termination Date.
The cash severance payable under this Paragraph 6(d) shall be paid within 30 days of the Employment Termination Date. 
  
 (e)    Without Reason Termination. If the Employee’s employment hereunder is terminated by the Employee by reason of a Without
Reason Termination, the Company shall pay to the Employee, in a lump sum in cash within 15 days after the Employment Termination Date, the Employee’s Base Salary, reimbursable expenses and vacation accrued but unpaid through the Employment
Termination Date. 
  
 (f)    Sole Remedy. The
receipt of payments provided for under Paragraph 6(d) shall be the Employee’s sole and exclusive remedy for the termination of his employment hereunder and shall be in lieu of any claim that he might otherwise have against the Company arising
from such termination. 
  
 (g)    Release. Any
severance payments due to Employee under Paragraph 6(d) shall be contingent upon Employee executing a full release of any and all claims against the Company, the Board of Directors and officers of the Company and any affiliates and representatives
of the Company arising out of Employee’s employment with the Company or this Agreement. 
  
 (h)    No Duty to Mitigate. Employee’s rights and privileges under Paragraph 6(d) shall be considered severance pay in consideration of his past service and his past service to the Company,
and his entitlement thereto shall neither be governed by any duty to mitigate his damages by seeking further employment nor offset by any compensation that he may receive from future employment. 
  

 6 

 7.     Compliance With Other Agreements. The Employee represents and warrants to
the Company that the execution, delivery, and performance by the Employee of this Agreement do not and will not conflict with or result in a violation of any provision of, or constitute a default under, any contract, agreement, instrument, or
obligation to which the Employee is a party or by which he is bound. 
  
 8.     Noncompetition and Related Matters. 
  
 (a)    The Employee acknowledges that during the term of his employment with the Company, the Company has provided and will continue to provide to him, and he has received and will continue to
receive from the Company, special training and knowledge. The Employee acknowledges that included in the special knowledge received is the confidential information identified in Paragraph 9. The Employee acknowledges that this confidential
information is valuable to the Company and, therefore, its protection and maintenance constitutes a legitimate interest to be protected by the Company by the enforcement of this covenant not to compete. Therefore, the Employee agrees that, in
consideration of the foregoing during the Employment Term and for a period commencing upon the termination of the Employee’s employment hereunder and ending upon the date which is 18 months from the termination of Employee’s employment
hereunder, unless otherwise extended pursuant to the terms of this Paragraph 8, the Employee will not, directly or indirectly, either as an employee, employer, consultant, agent, principal, partner, shareholder, corporate officer, director, or in
any other individual or representative capacity, engage or participate in any business or activity that is involved in leasing, acquiring, exploring, producing, gathering or marketing coal bed methane and related products; provided that nothing in
this Paragraph 8 shall be construed to prevent the Employee from owning beneficially, as an investment, up to an aggregate of five percent of a class of equity securities that is publicly traded and registered under Section 12 of the Securities
Exchange Act of 1934; provided further that nothing in this Paragraph 8 shall be construed to prevent the Employee from engaging or participating as an employee, employer, consultant, agent, principal, partner, shareholder, corporate officer,
director, or in any other individual or representative capacity in a business venture which derived during the last fiscal year less than 25% of its gross revenues from or is a start-up or new venture formed for the primary purpose of leasing,
acquiring, exploring, producing, gathering or marketing of coalbed methane, is not in direct competition with the Company, and would not require the Employee to use or disclose any confidential information identified in Paragraph 9. The Employee
represents to the Company that the enforcement of the restriction contained in this Paragraph 8(a) would not be unduly burdensome to the Employee and that in order to induce the Company to employ the Employee the Employee further represents and
acknowledges that the Employee is willing and able to compete in other areas of business not prohibited by this Paragraph 8(a). 
  
 (b)    The Employee agrees that a breach or violation of this covenant not to compete by the Employee shall entitle the Company, as a
matter of right, to an injunction issued by any court of competent jurisdiction, restraining any further or continued breach or violation of this covenant. Such right to an injunction shall be cumulative and in addition to, and not in lieu of, any
other remedies to which the Company may show itself justly entitled. Further, during any period in which 

  

 7 

 
the Employee is in breach of this covenant not to compete, the time period of this covenant shall be extended for an amount of time that the Employee is in
breach hereof. 
  
 (c)    In addition to the
restrictions set forth in Paragraph 8(a), the Employee shall not, for a period commencing upon the termination of the Employee’s employment hereunder and ending upon the 18 month anniversary thereof, either directly or indirectly, (i) make
known to any person or entity the names and addresses of any of the business contacts of the Company or any other information pertaining to such business contacts, (ii) call on, solicit, or take away, or attempt to call on, solicit, or take
away, any of the business contacts of the Company who were contacts during the Employee’s association with the Company, whether for the Employee or for any other person or entity, or (iii) recruit or attempt to recruit, directly or by
assisting others, any other employee of the Company or any of its affiliates; provided, however, that the Employee may call on or attempt to call on any business contact of the Company which is not involved specifically in the coalbed methane
business and would not interfere with the Company’s business. 
  
 (d)    The representations and covenants contained in this Paragraph 8 on the part of the Employee will be construed as ancillary to and independent of any other provision of this Agreement, and the existence of any
claim or cause of action of the Employee against the Company or any stockholder, director or officer of the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants
of the Employee contained in this Paragraph 8. In addition, the provisions of this Paragraph 8 shall continue to be binding upon the Employee in accordance with their terms, notwithstanding the termination of the Employee’s employment hereunder
for any reason. 
  
 (e)    The parties to this
Agreement agree that the limitations contained in this Paragraph 8 with respect to time, geographical area, and scope of activity are reasonable. However, if any court shall determine that the time, geographical area, or scope of activity of any
restriction contained in this Paragraph 8 is unenforceable, it is the intention of the parties that such restrictive covenant set forth herein shall not thereby be terminated but shall be deemed amended to the extent required to render it valid and
enforceable. 
  
 9.     Confidentiality.
The Employee recognizes and acknowledges that the Company’s trade secrets and other confidential or proprietary information, as they may exist from time to time, are valuable, special, and unique assets of the Company’s business, access to
and knowledge of which are essential to the performance of the Employee’s duties hereunder. The Employee confirms that all such trade secrets and other information constitute the exclusive property of the Company. During the Employment Term and
thereafter for a period of three (3) years, the Employee shall hold in strict confidence and shall not, directly or indirectly, disclose or reveal to any person, or use for his own personal benefit or for the benefit of anyone else, any trade
secrets, confidential dealings, or other confidential or proprietary information of any kind, nature, or description (whether or not acquired, learned, obtained, or developed by the Employee alone or in conjunction with others during the Employment
Term) belonging to or concerning the Company or any of its subsidiaries or any of their customers or clients or others with whom they now or hereafter have a business relationship, except (i) with the prior written consent of the Company duly
authorized by its Board of Directors, (ii) in the course of the proper performance of the Employee’s duties hereunder, (iii) for information 

  

 8 

 
(x) that becomes generally available to the public other than as a result of unauthorized disclosure by the Employee or his affiliates or (y) that
becomes available to the Employee subsequent to the termination of his employment hereunder and on a nonconfidential basis from a source other than the Company or its subsidiaries who is not bound by a duty of confidentiality, or other contractual,
legal, or fiduciary obligation, to the Company or such customers, clients, or others having a business relationship, or (iv) as required by applicable law or legal process. The provisions of this Paragraph 9 shall continue in effect for
the period set forth in this Paragraph 9 notwithstanding termination of the Employee’s employment hereunder for any reason. 
  
 10.    Business Records. Given the competitive environment in which the Company does business and the fiduciary relationship that the
Employee will have with the Company hereunder, the Employee agrees to promptly deliver to the Company, upon termination of his employment hereunder, or at any other time when the Company so requests, all memoranda, notes, records, drawings, manuals,
e-mails, electronic files and other documents (and all copies thereof and therefrom, whether paper or electronic copies) in any way relating to the business or affairs of the Company or any of its subsidiaries or any of their clients, whether made
or compiled by the Employee or furnished to him by the Company or any of its employees, customers, clients, consultants, or agents, which the Employee may then possess or have under his control. The Employee confirms that all such memoranda, notes,
records, drawings, manuals, and other documents (and all copies thereof and therefrom) constitute the exclusive property of the Company. The obligation of confidentiality set forth in Paragraph 9 shall continue notwithstanding the
Employee’s delivery of any such documents to the Company. The provisions of this Paragraph 10 shall continue in effect notwithstanding termination of the Employee’s employment hereunder for any reason. 
  
 11.    Intellectual Property. 
  
 (a)    Disclosure. The Employee shall promptly disclose
to the Company all ideas, inventions, discoveries, processes, designs, methods, substances, articles, computer programs, and improvements, whether or not patentable or copyrightable (all of the foregoing being hereinafter collectively called
“Intellectual Property”), which the Employee conceives, invents, discovers, creates, or develops, alone or with others, during the Employment Term, if such conception, invention, discovery, creation, or development (i) occurs in the
course of the Employee’s employment with the Company, or (ii) occurs with the use of the Company’s or any of its subsidiaries’ time, materials, or facilities, or (iii) in the opinion of the Board of Directors of the Company,
relates or pertains in any way to the Company’s or any of its subsidiaries’ purposes, activities or affairs. 
  
 (b)    Assignment. The Employee hereby assigns and agrees to assign to the Company, its successors, assigns, or designees, all of the
Employee’s right, title, and interest in and to all Intellectual Property that the Employee is obligated to disclose to the Company pursuant to Paragraph 11(a). 
  
 (c)    Assistance. The Employee shall assist the Company in the preparation of and shall execute and
deliver all disclosures, applications for patents or reissue of patents, rights of priority, 

  

 9 

 
assignments, and other documents, give all testimony, and in general do all lawful things reasonably requested by the Company to obtain, maintain, and
enforce United States and foreign patents and to obtain, maintain, and enforce on behalf of the Company or its designee legal title and all rights in and to all Intellectual Property referred to in the preceding provisions of this Paragraph 11.

  
 (d)    Records. The Employee shall prepare
and maintain adequate and current written records of all Intellectual Property within the scope of Paragraphs 11(a) through 11(c) in the form of notes, sketches, drawings, memoranda, or reports, all of which shall be promptly submitted by the
Employee to the Company and shall be owned exclusively by the Company. 
  
 (e)    Consideration and Expenses. The Employee shall perform his obligations under this Paragraph 11 at the Company’s expense, but without any additional compensation other than that which the Employee receives by
reason of his employment with the Company or pursuant to any separate agreement between the Company and the Employee or any separate policy of the Company that may be in effect from time to time during the Employment Term. 
  
 (f)    Power of Attorney. If the Company or its designee
is unable for any reason whatsoever to obtain the Employee’s signature to any documents that the Company is entitled to require him to sign pursuant to this Paragraph 11, the Employee hereby irrevocably designates and appoints the Company as
his agent and attorney-in-fact to act for and on behalf of him and in his stead to execute, deliver, and file all such documents (including, without limitation, all applications for United States and foreign patents or for the reissue of such
patents) and to do all other lawful acts that the Company is entitled to require the Employee to do pursuant to this Paragraph 11. 
  
 (g)    Survival. The provisions of this Paragraph 11 shall continue in effect notwithstanding termination of the Employee’s
employment hereunder for any reason. 
  
 12.    Assistance in Litigation. During the Employment Term and for a period of three years thereafter, the Employee shall, upon reasonable notice, furnish such information and proper assistance to the Company as may
reasonably be required by the Company in connection with any litigation in which the Company or any of its subsidiaries or affiliates is, or may become, a party. The Company shall reimburse the Employee for all reasonable out-of-pocket expenses
incurred by the Employee in rendering such assistance, and, in the event Employee is no longer employed by the Company, the Company shall pay Employee reasonable compensation for his time spent rendering such assistance. The provisions of this
Paragraph 12 shall continue in effect notwithstanding termination of the Employee’s employment hereunder for any reason. If assistance is required after the Employment Term, Employee shall not be required to provide assistance to the extent it
unreasonably interferes with Employee’s new employment. 
  
 13.    Withholding Taxes. The Company shall withhold from any payments to be made to the Employee hereunder such amounts (including social security contributions and federal income taxes) as shall be required by federal,
state, and local withholding tax laws. 
  
 14.    No Effect on Other Contractual Rights. The provisions of this Agreement, and any payment provided for hereunder, shall not reduce any amounts otherwise payable to the Employee, or 

  

 10 

 
in any way diminish the Employee’s rights as an employee of the Company, whether existing now or hereafter, under any employee benefit plan, program, or
arrangement or other contract or agreement of the Company providing benefits to the Employee. 
  
 15.    Arbitration. The Company and the Employee agree to submit to final and binding arbitration any and all disputes, claims (whether in tort, in contract, statutory, or otherwise) and/or
disagreements concerning the interpretation or application of this Agreement. Any dispute, claim, and/or disagreement subject to arbitration pursuant to the terms of this Paragraph 15 shall be resolved by arbitration in accordance with the
Commercial Arbitration Rules of the American Arbitration Association or any successor organization (the “Association”) then in effect. Arbitration under this provision must be initiated within 30 days of the action, inaction, or occurrence
about which the party initiating the arbitration is complaining. Within ten days of the initiation of an arbitration hereunder, each party will designate an arbitrator pursuant to Rule 14 of the Association’s Rules. The appointed arbitrators
will appoint a neutral arbitrator from the panel in the manner prescribed in Rule 13 of the Association’s Rules. The Employee and the Company agree that the decision of the arbitrators selected hereunder will be final and binding on both
parties. This arbitration provision is expressly made pursuant to and shall be governed by the Federal Arbitration Act, 9 U.S.C. Sections 1-14. The parties hereto agree that pursuant to Section 9 of such Act a judgment of the United States
District Court for the Southern District of Houston, Texas, shall be entered upon the award made pursuant to the arbitration. 
  
 17.    Injunctive Relief. In recognition of the fact that a breach by the Employee of any of the provisions of Paragraphs 8, 9, 10 and
11 will cause irreparable damage to the Company for which monetary damages alone will not constitute an adequate remedy, the Company shall be entitled as a matter of right (without being required to prove damages or furnish any bond or other
security) to obtain a restraining order, an injunction, an order of specific performance, or other equitable or extraordinary relief from any court of competent jurisdiction restraining any further violation of such provisions by the Employee or
requiring him to perform his obligations hereunder. Such right to equitable or extraordinary relief shall not be exclusive but shall be in addition to all other rights and remedies to which the Company may be entitled at law or in equity, including
without limitation the right to recover monetary damages for the breach by the Employee of any of the provisions of this Agreement. 
  
 18.    Survival. Neither the expiration or the termination of the term of the Employee’s employment hereunder shall impair the
rights or obligations of either party hereto which shall have accrued hereunder prior to such expiration or termination. The provisions of Paragraphs 8, 9, 10, 11, 12, 15, 16, 17, 18, 19, 25 and 26 and the rights and obligations of the parties
thereunder, shall survive the expiration or termination of the term of the Employee’s employment hereunder. 
  
 19.    Notices. All notices, requests, demands, and other communications required or permitted to be given or made hereunder by either
party hereto shall be in writing and shall be deemed to have been duly given or made (i) when delivered personally, or (ii) when deposited in the United States mail, first class registered or certified mail, postage prepaid, return receipt
requested, to the party for which intended at the following addresses (or at such other addresses as shall be 

  

 11 

 
specified by the parties by like notice, except that notices of change of address shall be effective only upon receipt): 
  
 If to the Company, at: 
  
 GeoMet Resources, Inc. 
 c/o Yorktown Partners 
 410 Park Avenue, 19th Floor 
 New York, NY 10022 
 Attn: Tomas LaCosta 
 Facsimile No.: (212) 515-2105 
  
 If to the Employee, at: 
 909 Fannin, Suite 3208 
 Houston, Texas 77010 
 Facsimile No.: (713) 659-3856 
  
 20.    Entire Agreement. This Agreement constitutes the
entire agreement between the parties hereto concerning the subject matter hereof and supersedes all prior agreements and understandings, both written and oral, between the parties with respect to such subject matter. 
  
 21.    Binding Effect; Assignment; No Third Party
Benefit. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors, and assigns; provided, however, that the Employee shall not assign or otherwise transfer this
Agreement or any of his rights or obligations hereunder without the prior written consent of the Company (except that any rights that the Employee may have hereunder at the time of his death may be transferred by will or pursuant to the laws of
descent and distribution). Nothing in this Agreement, express or implied, is intended to or shall confer upon any person other than the parties hereto, and their respective heirs, legal representatives, successors, and permitted assigns, any rights,
benefits, or remedies of any nature whatsoever under or by reason of this Agreement. 
  
 22.    Nonalienation of Benefits. The Employee shall not have any right to pledge, hypothecate, anticipate, or in any way create a lien upon any payments or other benefits provided under this
Agreement; and no benefits payable hereunder shall be assignable in anticipation of payment either by voluntary or involuntary acts, or by operation of law, except by will or pursuant to the laws of descent and distribution. 
  
 23.    Amendment. This Agreement may not be modified or
amended in any respect except by an instrument in writing signed by both of the parties hereto. 
  
 24.    Waiver. Any term or condition of this Agreement may be waived at any time by the party hereto which is entitled to have the
benefit thereof, but such waiver shall only be effective if evidenced by a writing signed by such party, and a waiver on one occasion shall not be deemed to be a waiver of the same or any other type of breach on a future occasion. No failure or
delay by a party 

  

 12 

 
hereto in exercising any right or power hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or
further exercise thereof or the exercise of any other right or power. 
  
 25.    Authority. No person, other than pursuant to a resolution duly adopted by the members of the Board of Directors of the Company, shall have authority on behalf of the Company to agree to modify, amend, or waive any
provision of this Agreement or take any action in reference hereto. 
  
 26.    Severability. If any provision of this Agreement is held to be unenforceable, (a) this Agreement shall be considered divisible, (b) such provision shall be deemed inoperative to the extent it is deemed
unenforceable, and (c) in all other respects this Agreement shall remain in full force and effect; provided, however, that if any such provision may be made enforceable by limitation thereof, then such provision shall be deemed to be so limited
and shall be enforceable to the maximum extent permitted by applicable law. 
  
 27.    GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS THEREOF.

  
 28.    Counterparts. This Agreement may be
executed by the parties hereto in any number of counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same agreement. 
  
 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its duly authorized officer, and
the Employee has executed this Agreement, as of the date first set forth above. 
  

					
	 GEOMET RESOURCES, INC.

		
	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

	
	  
  
  

	William C. Rankin

  

 13

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