Document:

Form of Warrant issued by i2 Telecom

 EXHIBIT 4.4 
  

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY APPLICABLE STATE SECURITIES LAWS,
AND MAY NOT BE SOLD OR OFFERED FOR SALE OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH
REGISTRATION IS NOT REQUIRED. 
  
 WARRANT 
  
 TO PURCHASE
                     SHARES OF COMMON STOCK OF 
  
 i2 TELECOM INTERNATIONAL, INC. 
  

			
	No.                     	  	February     , 2004

  
 THIS CERTIFIES
THAT, for value received,                      or (subject to the restrictions on transfer contained herein and in the Registration Rights
Agreement) its registered assigns (the “Holder”) is entitled to purchase from i2 Telecom International, Inc., a Delaware corporation (the “Company”), at any time or from time to time after 9:00 a.m., Atlanta,
Georgia time, on the date hereof and prior to 5:00 p.m., Atlanta, Georgia time, on the date which is three years from the date hereof (the “Expiration Date”), at the place where the Warrant Agency (as hereinafter defined) is
located, at the Exercise Price (as hereinafter defined), the number of shares of common stock, $0.01 par value per share (the “Common Stock”), of the Company specified above, all subject to adjustment and upon the terms and
conditions as hereinafter provided. 
  
 Capitalized terms used and
not otherwise defined in this Warrant shall have the meanings set forth in Article VI hereof. 
  
 ARTICLE I 
  
 EXERCISE OF
WARRANTS 
  
 1.1. Method of Exercise. To exercise this
Warrant in whole or in part, the Holder shall deliver to the Company at the Warrant Agency: (a) this Warrant; (b) a written notice, substantially in the form of the subscription notice attached hereto as Annex 1, of such Holder’s
election to exercise this Warrant, which notice shall specify the number of shares of Common Stock to be purchased, the denominations of the share certificate or certificates desired and the name or names of the Eligible Holder(s) in which such
certificates are to be registered; and (c) payment of the Exercise Price with respect to such shares of Common Stock. Such payment may be made, at the option of the Holder, by certified or bank cashier’s check or wire transfer. 
  
 The Company shall, as promptly as practicable and in any event within five
(5) Business Days thereafter, execute and deliver or cause to be executed and delivered, in accordance with such subscription notice, a certificate or certificates representing the aggregate number of shares of Common Stock specified in said notice.
The share certificate or certificates so delivered shall be in such denominations as may be specified in such notice (or, if such notice shall not specify denominations, one 

  

 
certificate shall be issued) and shall be issued in the name of the Holder or such other name or names of Eligible Holder(s) as shall be designated in such
notice. Such certificate or certificates shall be deemed to have been issued, and such Holder or any other person so designated to be named therein shall be deemed for all purposes to have become holders of record of such shares, as of the date the
aforementioned notice is received by the Company. If this Warrant shall have been exercised only in part, the Company shall, at the time of delivery of the certificate or certificates, deliver to the Holder a new Warrant evidencing the right to
purchase the remaining shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. The Company shall pay all expenses payable in connection with the preparation, issuance and
delivery of share certificates and new Warrants as contemplated by Section 2.6 below (other than transfer or similar taxes in connection with the transfer of securities), except that, if share certificates or new Warrants shall be registered in a
name or names other than the name of the Holder, funds sufficient to pay all transfer taxes payable as a result of such transfer shall be paid by the Holder at the time of delivering the aforementioned notice or promptly upon receipt of a written
request of the Company for payment. 
  
 If this Warrant shall be
surrendered for exercise within any period during which the transfer books for shares of the Common Stock of the Company or other securities purchasable upon the exercise of this Warrant are closed for any purpose, the Company shall not be required
to make delivery of certificates for the securities purchasable upon such exercise until the date of the reopening of said transfer books. 
  
 1.2. Shares To Be Fully Paid and Nonassessable. All shares of Common Stock issued upon the exercise of this Warrant shall be validly issued, fully
paid and nonassessable. 
  
 1.3. No Fractional Shares To Be
Issued. The Company shall not be required to issue fractions of shares of Common Stock upon exercise of this Warrant. The Holder may only elect to exercise this Warrant with respect to a whole number of shares of Common Stock. 
  
 1.4. Securities Laws; Share Legend. The Holder, by acceptance of this
Warrant, agrees that this Warrant and all shares of Common Stock issuable upon exercise of this Warrant will be disposed of only in accordance with the Securities Act of 1933, as amended (the “Securities Act”), and the rules and
regulations of the Securities and Exchange Commission (the “Commission”) promulgated thereunder. In addition to any other legend which the Company may deem advisable under the Securities Act and applicable state securities laws, all
certificates representing shares of Common Stock (as well as any other securities issued hereunder in respect of any such shares) issued upon exercise of this Warrant shall be endorsed as follows: 
  
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD OR OFFERED FOR SALE OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT AND ANY APPLICABLE
STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED. 
  
 Any certificate issued at any time in exchange or substitution for any certificate bearing such legend (except a new certificate issued upon completion of
a public distribution pursuant to a registration statement under the Securities Act) shall also bear such legend unless, in the opinion of counsel (in form and substance reasonably satisfactory to the Company) selected by the Holder of such
certificate and reasonably acceptable to the Company, the securities represented thereby need no longer be subject to restrictions on resale under the Securities Act. 
  

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 ARTICLE II 
  

WARRANT AGENCY; TRANSFER, EXCHANGE AND 
 REPLACEMENT OF WARRANT 
  
 2.1. Warrant
Agency. Until such time, if any, as an independent agency shall be appointed by the Company to perform services described herein with respect to this Warrant (the “Warrant Agency”), the Company shall perform the obligations of
the Warrant Agency provided herein at its principal office address or such other address as the Company shall specify by prior written notice to the Holder. 
  
 2.2. Ownership of Warrant. The Company may deem and treat the person in whose name this Warrant is registered as the holder and owner hereof
(notwithstanding any notations of ownership or writing hereon made by any person other than the Company) for all purposes and shall not be affected by any notice to the contrary, until presentation of this Warrant for registration of transfer as
provided in this Article II. 
  
 2.3. Transfer of Warrant.
This Warrant may only be transferred to a purchaser subject to and in accordance with this Section 2.3, and any attempted transfer which is not in accordance with this Section 2.3 shall be null and void and the transferee shall not be entitled to
exercise any of the rights of the holder of this Warrant. The Company agrees to maintain at the Warrant Agency books for the registration of such transfers of Warrants, and transfer of this Warrant and all rights hereunder shall be registered, in
whole or in part, on such books, upon surrender of this Warrant at the Warrant Agency in accordance with this Section 2.3, together with a written assignment of this Warrant, substantially in the form of the assignment attached hereto as Annex
2, duly executed by the Holder or its duly authorized agent or attorney-in-fact, with signatures guaranteed by a bank or trust company or a broker or dealer registered with the NASD, and funds sufficient to pay any transfer taxes payable upon
such transfer. Upon surrender of this Warrant in accordance with this Section 2.3, the Company (subject to being satisfied that such transfer is in compliance with Section 1.4) shall execute and deliver a new Warrant or Warrants of like tenor and
representing in the aggregate the right to purchase the same number of shares of Common Stock in the name of the assignee or assignees and in the denominations specified in the instrument of assignment, and this Warrant shall promptly be canceled.
Notwithstanding the foregoing, a Warrant may be exercised by a new holder without having a new Warrant issued. The Company shall not be required to pay any Federal or state transfer tax or charge that may be payable in respect of any transfer of
this Warrant or the issuance or delivery of certificates for Common Stock in a name other than that of the registered holder of this Warrant. 
  
 2.4. Division or Combination of Warrants. This Warrant may be divided or combined with other Warrants, in connection with the partial exercise of
this Warrant, upon surrender hereof and of any Warrant or Warrants with which this Warrant is to be combined at the Warrant Agency, together with a written notice specifying the names and denominations in which the new Warrant or Warrants are to be
issued, signed by the holders hereof and thereof or their respective duly authorized agents or attorneys-in-fact. Subject to compliance with Section 2.3 as to any transfer which may be involved in the division or combination, the Company shall
execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. 
  
 2.5. Loss, Theft, Destruction of Warrant Certificates. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Warrant and, in the case of any such loss, theft or destruction, upon receipt of indemnity or security (in customary form) reasonably satisfactory to the Company, or, in the case of any such mutilation, upon
surrender and cancellation of such Warrant and upon reimbursement of the Company’s reasonable incidental expenses, the Company will make and deliver, in lieu of such lost, stolen, destroyed or 

  

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mutilated Warrant, a new Warrant of like tenor and representing the right to purchase the same aggregate number of shares of Common Stock. 
  
 2.6. Expenses of Delivery of Warrants. Except as otherwise expressly
provided herein, the Company shall pay all expenses (other than transfer taxes as described in Section 2.3) and other charges payable in connection with the preparation, issuance and delivery of Warrants hereunder and shares of Common Stock upon the
exercise hereof. 
  
 ARTICLE III 
  
 ADJUSTMENT PROVISIONS 
  
 3.1. Adjustments Generally. The Exercise Price and the number of
shares of Common Stock (or other securities or property) issuable upon exercise of this Warrant shall be subject to adjustment from time to time upon the occurrence of certain events, as provided in this Article III. 
  
 3.2. Common Share Reorganization and Stock Dividend Payments. If the
Company, at any time this Warrant is outstanding, (a) shall subdivide its outstanding shares of Common Stock into a greater number of shares or consolidate its outstanding shares of Common Stock into a smaller number of shares (any such event being
called a “Common Share Reorganization”), or (b) pay a stock dividend (except dividends paid on preferred stock which the Company is required or permitted to pay pursuant to the certificate of designations thereof) or otherwise make
a distribution or distributions on shares of its Common Stock or on any other class of capital stock payable in shares of Common Stock (any such event being called a “Stock Dividend Payment”), then (i) the Exercise Price shall be
adjusted, effective immediately after the record date at which the holders of shares of Common Stock are determined for purposes of a Common Share Reorganization or at which the holders of shares of Common Stock or any other class of capital stock
are determined for purposes of a Stock Dividend Payment, as the case may be, to a price determined by multiplying the Exercise Price in effect immediately prior to such record date by a fraction, the numerator of which shall be the number of shares
of Common Stock outstanding on such record date before giving effect to such Common Share Reorganization or Stock Dividend Payment, as the case may be, and the denominator of which shall be the number of shares of Common Stock outstanding after
giving effect to such Common Share Reorganization or Stock Dividend Payment, as the case may be, and (ii) the number of shares of Common Stock subject to purchase upon exercise of this Warrant shall be adjusted, effective at such time, to a number
determined by multiplying the number of shares of Common Stock subject to purchase immediately before such Common Share Reorganization or Stock Dividend Payment, as the case may be, by a fraction, the numerator of which shall be the number of shares
outstanding after giving effect to such Common Share Reorganization or Stock Dividend Payment, as the case may be, and the denominator of which shall be the number of shares of Common Stock outstanding immediately before such Common Share
Reorganization or Stock Dividend Payment, as the case may be. 
  
 3.3. Capital Reorganization. If, at any time this Warrant is outstanding, there shall be any consolidation or merger to which the Company is a party, other than a consolidation or a merger in which the Company is a continuing
corporation and which does not result in any reclassification of, or change (other than a Common Share Reorganization, Stock Dividend Payment or a change in par value) in, outstanding shares of Common Stock, or any sale or conveyance of the property
of the Company as an entirety or substantially as an entirety (any such event being called a “Capital Reorganization”), then, effective upon the effective date of such Capital Reorganization, the Holder shall have the right to
purchase, upon exercise of this Warrant, the kind of shares of stock and other securities and property (including cash) which the holders of other warrants to purchase Common Stock outstanding as of such effective date are entitled to receive in
connection with such Capital Reorganization at the same 

  

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conversion or exchange ratio applicable to such other warrants. The provisions of this Section 3.3 shall similarly apply to successive Capital
Reorganizations. 
  
 3.4. Adjustment Rules. Any adjustments
pursuant to this Article III shall be made successively whenever an event referred to herein shall occur. If the Company shall set a record date to determine the holders of shares of Common Stock or any other class of capital stock, as the case may
be, for purposes of a Common Share Reorganization, Stock Dividend Payment or Capital Reorganization and shall legally abandon such action prior to effecting such action, then no adjustment shall be made pursuant to this Article III in respect of
such action. 
  
 3.5. Notice of Adjustments. After the
record date or effective date, as the case may be, of any Common Share Reorganization, Stock Dividend Payment or Capital Reorganization, the Company shall promptly give notice to the Holder of such event, describing such event in reasonable detail
and specifying the record date or effective date, as the case may be, and, if determinable, the required adjustment and the computation thereof. If the required adjustment is not determinable at the time of such notice, the Company shall give notice
to the Holder of such adjustment and computation promptly after such adjustment becomes determinable. 
  
 3.6. Adjustment by Board of Directors. If any event occurs as to which, in the opinion of the Board of Directors of the Company, the provisions of
this Article III are not strictly applicable or if strictly applicable would not fairly protect the rights of the holder of this Warrant in accordance with the essential intent and principles of such provisions, then the Board of Directors of the
Company may make, in its discretion, an adjustment in the application of such provisions, in accordance with such essential intent and principles, so as to protect such rights as aforesaid, but in no event shall any adjustment have the effect of
increasing the Exercise Price or decreasing the number of shares of Common Stock into which the Warrant is exercisable as otherwise determined pursuant to any of the provisions of this Article III except in the case of a combination of shares of a
type contemplated in Section 3.2 and then in no event to an amount larger than the Exercise Price as adjusted pursuant to Section 3.2. 
  
 ARTICLE IV 
  
 CALL OPTION 
  
 4.1. Company Right to Purchase. The Holder hereby grants to the Company the right to purchase this Warrant (in whole only and not in part) for cash (the “Call Option”) at a purchase price equal to the product of
$0.01 multiplied by the number of shares of Common Stock for which this Warrant is then exercisable (the “Call Price”); provided, however, that the Call Option shall only be exercisable (i) if the Common Stock is
listed on or quoted by any securities exchange or quotation system, including, without limitation, the over-the-counter bulletin board or the “pink sheets”, and (ii) if the per share price of the Common Stock for twenty (20) consecutive
trading days is bid at a 100% premium to the then current Exercise Price. Notwithstanding the foregoing, the Company may not exercise its Call Option during the period from the date hereof until the one year anniversary from the date hereof unless a
registration statement permitting the resale of the shares of Common Stock issuable upon exercise of this Warrant has been declared effective by the Commission. 
  

4.2 Notice to Holder. If the Company elects to exercise its Call Option pursuant to this Article IV, then at least fifteen (15) Business Days
but not more than sixty (60) Business Days before the Call Date, the Company shall mail or cause to be mailed a redemption notice (the “Notice”) by first-class mail to Holder at Holder’s address as it appears on the books
maintained by the Warrant Agency. The Notice shall state: (i) the Call Date; (ii) the Call Price; (iii) the then current Exercise Price; (iv) that this Warrant must be presented and surrendered to the Warrant Agency to collect the Call Price; (v)
that this 

  

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Warrant may be exercised at any time before the close of business on the fifth (5th) Business Day immediately preceding the Call Date (the “Exercise Termination Date”); (vi) that, if the Holder wishes to exercise this
Warrant, the Holder must satisfy the requirements of Article I hereof prior to the Exercise Termination Date; and (vii) that, unless the Company defaults in making the payment of the Call Price, the only remaining right of Holder after the Exercise
Termination Date shall be to receive payment of the Call Price upon presentation and surrender of this Warrant to the Warrant Agency. 
  
 4.3 Payment upon Surrender of Warrant. If the Company elects to exercise its Call Option pursuant to this Article IV, and the Holder does not
exercise this Warrant prior to the Exercise Termination Date, then the Company shall pay the Call Price to the Holder in accordance with the Notice upon presentation and surrender by the Holder of this Warrant to the Warrant Agency. 
  
 ARTICLE V 
  
 REPRESENTATIONS AND WARRANTIES 
  
 5.1 Representations and Warranties of Holder. The Holder represents and warrants to the Company as follows:

  
 (a) Purchase for Own Account. This
Warrant and the shares of Common Stock to be acquired upon exercise of this Warrant by the Holder will be acquired for investment for the Holder’s account, not as a nominee or agent, and not with a view to the public resale or distribution
within the meaning of the Securities Act, and the Holder has no present intention of selling, granting any participation in, or otherwise distributing the same. If not an individual, the Holder also represents that the Holder has not been formed for
the specific purpose of acquiring this Warrant or the shares of Common Stock to be acquired upon exercise of this Warrant. 
  
 (b) Disclosure of Information. The Holder has received or has had full access to all the information it considers necessary or
appropriate to make an informed investment decision with respect to the acquisition of this Warrant and the underlying shares of Common Stock. The Holder further has had an opportunity to ask questions and receive answers from the Company regarding
the terms and conditions to the offering of this Warrant and its underlying shares of Common Stock and to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense)
necessary to verify any information furnished to the Holder or to which the Holder has access. 
  
 (c) Investment Experience. The Holder understands that the purchase of this Warrant and its underlying shares of Common Stock
involves substantial risk. The Holder: (i) has experience as an investor in securities and acknowledges that the Holder is able to fend for itself, can bear the economic risk of such Holder’s investment in this Warrant and its underlying shares
of Common Stock and has such knowledge and experience in financial or business matters that the Holder is capable of evaluating the merits and risks of its investment in this Warrant and its underlying shares of Common Stock and/or (ii) has a
preexisting personal or business relationship with the Company and certain of its officers, directors or controlling persons of a nature and duration that enables the Holder to be aware of the character, business acumen and financial circumstances
of such persons. 
  
 (d) Accredited Investor
Status. The Holder is an “accredited investor” within the meaning of Regulation D promulgated under the Securities Act. 
  

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 ARTICLE VI 
  

DEFINITIONS 
  
 The following terms, as used in this Warrant, have the following respective meanings: 
  
 “Business Days” means each day in which banking institutions in Atlanta, Georgia are not required or
authorized by law or executive order to close. 
  
 “Call
Date” means the Business Day fixed by the Company upon which this Warrant shall be called in accordance with Article IV. 
  
 “Call Option” has the meaning set forth in Section 4.1. 
  
 “Call Price” has the meaning set forth in Section 4.1. 
  
 “Capital Reorganization” has the meaning set forth in
Section 3.3. 
  
 “Commission” has the meaning set
forth in Section 1.4. 
  
 “Common Share
Reorganization” has the meaning set forth in Section 3.2. 
  
 “Common Stock” has the meaning set forth in the first paragraph of this Warrant. 
  
 “Company” has the meaning set forth in the first paragraph of this Warrant. 
  
 “Eligible Holder” means the Holder and any permitted transferee of the Holder pursuant to and in accordance
with this Warrant. 
  
 “Exercise Price” means US
$6.00 per share of Common Stock from the date hereof until the date which is twenty-four months from the date hereof and US $8.00 per share of Common Stock during the twelve months prior to the Expiration Date. 
  
 “Exercise Termination Date” has the meaning set forth in
Section 4.2. 
  
 “Expiration Date” has the
meaning set forth in the first paragraph of this Warrant. 
  
 “Holder” has the meaning set forth in the first paragraph of this Warrant. 
  
 “NASD” means The National Association of Securities Dealers, Inc. 
  
 “Notice” has the meaning set forth in Section 4.2. 
  
 “Registration Rights Agreement” means that certain
Registration Rights Agreement by and among the Company and the purchasers of the Warrants entered into in connection with the Company’s February 2004 private equity financing. 
  
 “Securities Act” means the Securities Act of 1933, as amended, and any successor Federal statute, and the
rules and regulations of the Securities and Exchange Commission (or its successor) thereunder, all as the same shall be in effect from time to time. 
  
 “Stock Dividend Payment” has the meaning set forth in Section 3.2. 
  

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 “Warrant Agency” has the meaning set forth in Section 2.1. 
  
 “Warrants” means this Warrant and all other Warrants of like
tenor issued by the Company in connection with its February 2004 private equity financing. 
  
 ARTICLE VII 
  
 MISCELLANEOUS 
  
 7.1. Governing Law. This
Warrant shall be governed in all respects by the laws of the State of Florida, without reference to its conflicts of law principles. 
  
 7.2. Covenants To Bind Successor and Assigns. All covenants, stipulations, promises and agreements contained in this Warrant by or on behalf of the
Company shall bind its successors and assigns, whether or not so expressed. 
  
 7.3. Entire Agreement. This Warrant constitutes the full and entire understanding and agreement between the parties with regard to the subject matter hereof and no party shall be liable or bound to any other
party in any manner by any warranties, representations, or covenant except as specifically set forth herein or therein. 
  
 7.4. Waivers and Amendments. No failure or delay of the Holder in exercising any power or right hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and
remedies of the Holder are cumulative and not exclusive of any rights or remedies which it would otherwise have. The provisions of this Warrant may be amended, modified or waived with (and only with) the written consent of the Company and the
Holders of a majority in interest of the Warrants then outstanding; provided, however, that no such amendment, modification or waiver shall, without the written consent of the Holders of any Warrant, (a) change the number of shares of
Common Stock subject to purchase upon exercise of such Warrant, the Exercise Price or provisions for payment thereof or (b) amend, modify or waive the provisions of Section 7.4 or Article III of such Warrant. 
  
 Any such amendment, modification or waiver effected pursuant to this Section
shall be binding upon the Holders of all Warrants and upon the Company, except as provided in the proviso to the last sentence of the preceding paragraph. In the event of any such amendment, modification or waiver the Company shall give prompt
notice thereof to all holders of Warrants and, if appropriate, notation thereof shall be made on all Warrants thereafter surrendered for registration of transfer or exchange. 
  
 7.5. Notices. All notices or other communications required or permitted hereunder shall be in writing and shall be
mailed by express, registered or certified mail, postage prepaid, return receipt requested, sent by telecopy, or by courier service guaranteeing overnight delivery with charges prepaid, or otherwise delivered by hand or by messenger, and shall be
conclusively deemed to have been received by a party hereto and to be effective on the day on which delivered or telecopied to such party at its address set forth below (or at such other address as such party shall specify to the other parties
hereto in writing), or, if sent by registered or certified mail, on the third business day after the day on which mailed, addressed to such party at such address. 
  
 In the case of the Holder, such notices and communications shall be addressed to its address set forth under its signature
below, which shall be the address shown on the books maintained by the Warrant Agency, until the Holder shall notify the Company and the Warrant Agency in writing that notices and 

  

 8 

 
communications should be sent to a different address, in which case such notices and communications shall be sent to the address specified by the Holder. In
the case of the Company, such notices and communications shall be addressed as follows: Attention: Chief Executive Officer, i2 Telecom International, Inc., 301 Yamato Road, Suite 2112, Boca Raton, Florida 33431. 
  
 7.6. Survival of Agreements; Representations and Warranties, etc. All
warranties, representations and covenants made by the Company herein shall be considered to have been relied upon by the Holder and shall survive the issuance and delivery of the Warrant, regardless of any investigation made by the Holder, and shall
continue in full force and effect so long as this Warrant is outstanding. 
  
 7.7. Severability. In case any one or more of the provisions contained in this Warrant shall be held to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions contained herein shall not in any way be affected or impaired thereby. The parties shall endeavor in good faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect
of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
  
 7.8. Section Headings. The section headings used herein are for convenience of reference only, do not constitute a part of this Warrant and shall
not affect the construction of or be taken into consideration in interpreting this Warrant. 
  
 7.9. No Rights as Stockholder; No Limitations on Company Action. This Warrant shall not entitle the Holder to any rights as a stockholder of the Company. No provision of this Warrant and no right or option
granted or conferred hereunder shall in any way limit, affect or abridge the exercise by the Company of any of its corporate rights or powers to recapitalize, amend its certificate of incorporation, reorganize, consolidate or merge with or into
another corporation or to transfer all or any part of its property or assets, or the exercise of any other of its corporate rights or powers. 
  

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 IN WITNESS WHEREOF, the Company and the Holder have caused this Warrant to be executed by their
duly authorized representatives as of the date first set forth above. 
  

			
	i2 TELECOM INTERNATIONAL, INC.
		
	By:	 	 
	 Name:
	 	Paul R. Arena
	 Title:
	 	Chief Executive Officer

			
	
	HOLDER
		
	 Print Name of Holder: 
	 	 

			
	Signature of Holder or Authorized
	 Representative of Holder: 
	 	 

			
	
	Title of Authorized Representative
	 of Holder:
	 	 
		
	 Address:
	 	 
	 	 	 
	 	 	 
	 	 	 
	 Facsimile No.: 
	 	 

  

 Annex 1 
  
 SUBSCRIPTION NOTICE 
  
 Dated:                       

 
 The undersigned hereby irrevocably elects to exercise the right of
purchase evidenced by the attached Warrant for, and to purchase thereunder,                      shares of Common Stock of i2 Telecom
International, Inc. as provided for therein. The undersigned tenders herewith payment of the Exercise Price (as defined in the attached Warrant) for such shares in the form of cash, money order, certified or bank cashier’s check or wire
transfer. 
  
 Instructions for Registration of Common Stock

  
 Please issue a certificate or certificates for such shares
of Common Stock in the following name or names and denominations: 
  

			
		
	 Name: 
	 	 
	 	 	 (Please typewrite or print in block letters.)

			
		
	 Address: 
	 	 

			
		
	 Denomination: 
	 	 

  
 Representations and
Warranties 
  
 In connection with the exercise of the attached
Warrant, the undersigned hereby represents and warrants that: 
  
 (i) it recognizes that the shares of Common Stock issuable pursuant to the attached Warrant have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws, and
may not transferred, sold, or offered for sale unless registered pursuant to the Securities Act and all applicable state securities laws or unless an exemption from such registration in available and the Company has received an opinion to that
effect from counsel reasonably satisfactory to the Company; 
  
 (ii) it recognizes that the shares of Common Stock issuable pursuant to the attached Warrant are subject to, and are transferable only upon compliance with, the provisions of the Warrant; 
  
 (iii) the undersigned is an “accredited investor” as that term is
defined in Rule 501 of Regulation D promulgated under the Securities Act; and 
  

 (iv) it is purchasing the shares of Common Stock for investment and not with a view to resale or
distribution or any present intention to resell or distribute, except in compliance with the Securities Act and all applicable state securities laws. 
  
 Issuance of New Warrant 
  
 If said number of shares shall not be all the shares issuable upon exercise of the attached Warrant, a new Warrant is to be issued in the name of the
undersigned for the balance remaining of such shares less any fraction of a share paid in cash. 
  

			
		
	 Signature: 
	 	 
	 	 	 Note: The above signature should correspond exactly with the name on the face of the attached Warrant or with the name of the assignee
appearing in the assignment form below.

  

 Page 2 of Annex 1 

 Annex 2 
  
 Assignment 
  
 For value received, the undersigned hereby sells, assigns and transfers unto: 
  

			
		
	 Name: 
	 	 
	 	 	 (Please type or print in block letters)

			
		
	 Address: 
	 	 

  
 the right to purchase Common Stock (as
defined in the attached Warrant) represented by the attached Warrant to the extent of                      shares as to which such right is
exercisable and does hereby irrevocably constitute and appoint
                                       
                                        
                                        
         , attorney-in-fact, to transfer said Warrant on the books of i2 Telecom International, Inc., with full power of substitution in the premises. 
  

			
		
	 Dated: 
	 	 

			
		
	 Signature: 
	 	 
	 	 	 Note:           The above signature should correspond exactly with the name on the
face of the attached Warrant.Amended and Restated Executive Employment Agreement (Rosenberg)

 EXHIBIT 10.1 
  
 AMENDED AND RESTATED 
 EXECUTIVE EMPLOYMENT AGREEMENT 
  
 THIS AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into this 21st day of September, 2004, by and between Omega Protein Corporation, a Nevada corporation with its principal place of business at 1717 St. James Place, Suite 550, Houston, Texas 77056 (the “Company”), and Joseph L. von
Rosenberg III (the “Executive”). This Agreement amends and restates in its entirety the agreement dated April 3, 1998 between the Company and the Executive (the “Prior Agreement”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Company desires to amend and restate the Prior Agreement with
the Executive as set forth herein and the Executive desires to amend and restate the Prior Agreement with the Company as set forth herein; and 
  
 NOW, THEREFORE, for and in consideration of the mutual promises, covenants and obligations contained herein, and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Company and the Executive hereby agree as follows: 
  
 1. Certain Definitions. 
  
 As used in this Agreement, the following terms have the meanings prescribed below: 
  
 Affiliate means a person or entity who, directly or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with, another person or entity. 
  
 Board means the Board of Directors of the Company. 
  
 Cause shall have the meaning assigned thereto in Section 5.3 hereof. 
  
 Change in Control of the Company shall be deemed to have occurred if any of the events set forth in any one of the following paragraphs shall
occur: 
  
 (a) any “person” (as defined in section
3(a)(9) of the Exchange Act, and as such term is modified in sections 13(d) and 14(d) of the Exchange Act), is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of
the Company representing 30% or more of the combined voting power of the Company’s then outstanding securities, provided however, that excluded are the following: (i) Zapata Corporation, a Nevada corporation (“Zapata”), or its
Affiliates, for so long as Zapata remains the beneficial owner of at least 30% of the combined voting power of the Company’s then outstanding securities, (ii) the Company or any of its subsidiaries, (iii) a trustee or any fiduciary holding
securities under any Compensation Plan, (iv) an underwriter temporarily holding securities pursuant to an offering of such securities, or (v) a corporation owned, directly or indirectly, by stockholders of the Company in substantially the same
proportions as their ownership of the Company; or 
  
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 (b) if, during any time that Zapata shall beneficially own at least 30% of the Company’s outstanding
securities, any person is or becomes the beneficial owner, directly or indirectly, of securities of Zapata representing 50% or more of the combined voting power of Zapata’s then outstanding securities, provided however, that excluded are the
following: (i) Malcolm I. Glazer or his Affiliates (including the Malcolm I. Glazer Family Limited Partnership), (ii) Zapata or any of its subsidiaries, (iii) a trustee or any fiduciary holding securities under any Compensation Plan of Zapata, (iv)
an underwriter temporarily holding securities pursuant to an offering of such securities, or (v) a corporation owned, directly or indirectly, by stockholders of Zapata in substantially the same proportions as their ownership of Zapata; or

  
 (c) during any period of not more than two consecutive years,
individuals who at the beginning of such period constitute the Board and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in clause (a), (c) or (d) of
this definition) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the
period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; or 
  
 (d) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation or entity, other than (i) a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity), in
combination with the ownership of any trustee or other fiduciary holder of securities under a Compensation Plan, at least 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation, or (ii) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no person acquires more than 50% of the combined voting power of the Company’s then
outstanding securities; or 
  
 (e) the stockholders of the Company
approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets. 
  
 Code means the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated by the Internal
Revenue Service thereunder, all as in effect from time to time. 
  
 Compensation Plans means any compensation arrangement, plan, policy, practice or program established, maintained or sponsored by the Company or any subsidiary of the Company, for its employees generally or any specific group of
employees, or to which the Company or any subsidiary of the Company contributes, and which includes, by way of example and not limitation, any incentive plan, bonus plan, 401(k) plan, pension plan, savings plan, equity 
  

			
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 or cash incentive plan, phantom stock plan, stock appreciation right plan, stock option plan, restricted stock award
plan, retirement plan, deferred compensation plan, or supplemental benefit arrangement. 
  
 Competing Business means any individual, business, firm, company, partnership, joint venture, organization, or other entity that is engaged in the production or sale of fish meal, fish oil (refined or
unrefined) or fish solubles. 
  
 Confidential Information
shall have the meaning assigned thereto in Section 8.2 hereof. 
  
 Date of Termination means the earliest to occur of (i) the date of the Executive’s death or (ii) the date of receipt of the Notice of Termination, or such later date as may be prescribed in the Notice of Termination in
accordance with Section 5.6 hereof. 
  
 Disability means
that the Executive has been unable for a 120-day calendar period to perform his normal duties while employed by the Company as a result of a physical or mental illness or personal injury he has incurred, and that the Executive has been determined
(which determination shall be final and binding absent manifest error), as a result of a physical or mental illness or personal injury he has incurred, by a qualified doctor treating or otherwise acting as the Executive’s doctor in connection
with the illness or injury in question, to be unable to perform, at the time of that determination and, in all reasonable medical likelihood, indefinitely thereafter, the normal duties of the Executive while employed by the Company. 
  
 Employee Health and Welfare Plans means any health, insurance or
welfare arrangement, plan, policy, practice or program established, maintained or sponsored by the Company or any subsidiary of the Company, for its employees generally or any specific group of employees, or to which the Company or any subsidiary of
the Company contributes, and which includes, by way of example and not limitation, any health care plan, medical plan, dental plan, vision plan, long-term or short-term disability plan, unemployment plan, accident plan, hospitalization plan, life
insurance plan, dependent care plan, cafeteria plan, or employee assistance plan. 
  
 Exchange Act means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Securities and Exchange Commission thereunder, all as in effect from time to time.

  
 Good Reason shall have the meaning assigned thereto in
Section 5.5 hereof. 
  
 Notice of Termination shall have
the meaning assigned thereto in Section 5.6 hereof. 
  
 Without
Cause shall have the meaning assigned thereto in Section 5.4 hereof. 
  
 2. General Duties of the Company and the Executive. 
  
 2.1 (a) The Company agrees to employ the Executive, and the Executive agrees to accept employment by the Company and to serve the Company as its President and Chief Executive Officer. The Executive shall report to the
Board. The Executive shall have the authority, duties and responsibilities that are normally associated with and inherent in the executive capacity in which the Executive will be performing, and shall have such other or 
  

			
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 additional duties which are not inconsistent with the Executive’s position, as may from time to time be reasonably
assigned to the Executive by the Board. While employed hereunder, the Executive shall devote full time and attention during normal business hours to the affairs of the Company and use his best efforts to perform faithfully and efficiently his duties
and responsibilities. The Executive agrees to cooperate fully with the Board, and other executive officers of the Company, and not to engage in any activity which conflicts with or interferes with the performance of his duties hereunder. While the
Executive is employed by the Company, the Executive shall devote his best efforts and skills to the business and interests of the Company. While the Executive is employed by the Company, it shall not be a violation of this Agreement for the
Executive (i) serve on any corporate board or committee thereof with the approval of the Board, (ii) to serve on any civic, or charitable boards or committees (except for boards or committees of a Competing Business unless approved by the Board),
(iii) deliver lectures, fulfill teaching or speaking engagements, or (iv) manage personal investments; provided, however, any such activities must not materially interfere with performance of the Executive’s responsibilities under this
Agreement. 
  
 (b) The Executive represents and covenants to the
Company that he is not subject or a party to any employment agreement, noncompetition covenant, nondisclosure agreement, or any similar agreement or covenant that would prohibit the Executive from executing this Agreement and fully performing his
duties and responsibilities hereunder, or would in any manner, directly or indirectly, limit or affect the duties and responsibilities that may now or in the future be assigned to the Executive hereunder. 
  
 2.2 The Executive agrees and acknowledges that he owes a fiduciary duty of
loyalty, fidelity and allegiance to act at all times in the best interests of the Company. 
  
 3. Term. 
  
 Unless sooner terminated pursuant to section 5 hereof, the Executive’s period of employment under this Agreement shall be for a continually renewing
term of three (3) years commencing on the date of this Agreement and renewing each day thereafter for an additional day without any further action or consent by either the Company or the Executive, it being the intention of the parties that there
shall be continuously a remaining term of three (3) years’ duration of the Executive’s employment until an event has occurred as described in, or one of the parties shall have made an appropriate election pursuant to, the provisions of
Section 5 hereof. 
  
 4. Compensation and
Benefits. 
  
 4.1 Base Salary. (a) As compensation for
services to the Company, the Company shall pay to the Executive from the date of this Agreement until the Date of Termination an annual base salary of $425,000. The executive’s base salary shall be payable in equal semi-monthly installments or
in accordance with the Company’s established policy for all employees generally, subject only to such payroll and withholding deductions as may be required by law and other deductions (consistent with Company policy for all employees generally)
relating to the Executive’s election to participate in any Employee Health and Welfare Plans. While employed by the Company, the Executive will receive no additional compensation if he shall serve as a director of the Company. 
  

			
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 (b) The Executive’s base salary may be increased (but not decreased or adjusted other than as
provided in Section 5) by such additional amount as shall be determined from time to time in the sole discretion of the Compensation Committee (or the Board, if there is no Compensation Committee) which shall conduct an annual review of the
Executive’s compensation. 
  
 4.2 Bonuses and Other
Incentive Awards. In addition to his base salary, the Executive may be awarded, for each fiscal year until the Date of Termination, bonuses, stock option grants, stock awards or other equity or cash incentives, and may be eligible to participate
in Compensation Plans, in each case, to be determined by the Board (or a committee thereof), in its sole discretion. Each such bonus, stock option grant, stock award or other equity or cash incentive shall be payable or granted at a time to be
determined by the Board (or a committee thereof) in its sole discretion. 
  
 4.3 Vacation. Until the Date of Termination, the Executive shall be entitled to four weeks paid vacation during each one-year period commencing on the January 1 of each year. The use of any paid vacation time
not taken during the applicable one-year period and will be subject to the Company’s vacation policy as in effect from time to time. 
  
 4.4 Participation in Employee Health and Welfare Plans and Compensation Plans. Until the Date of Termination, the Executive, and the
Executive’s family if applicable, shall have the right to participate in any Employee Health and Welfare Plans or any Compensation Plans, in each case in which any senior executive of the Company participates, in a manner consistent with the
participation of such senior executives, as well as those Employee Health and Welfare Plans or Compensation Plans currently maintained or hereinafter established by the Company for the benefit of its employees generally. The Company shall not be
obligated to institute, maintain, or refrain from changing, amending, or discontinuing any Employee Health and Welfare Plans or any Compensation Plans, so long as such actions are similarly applicable to, as the case may be, covered employees
generally or senior executives generally. 
  
 4.5 Reimbursement
of Expenses. The Executive may from time to time until the Date of Termination incur various business expenses customarily incurred by persons holding positions of like responsibility, including, without limitation, travel, entertainment and
similar expenses incurred for the benefit of the Company. Subject to the Executive complying with the Company’s policy regarding the reimbursement of such expenses as in effect from time to time, the Company shall reimburse the Executive for
such expenses from time to time, at the Executive’s request (irrespective of whether such request is made before or after the Date of Termination, provided that all submitted expenses relate to prior to the Date of Termination). 
  
 4.6 Director and Officer Insurance. The Company will also cause the
Executive to be covered by its director and officer insurance policies as they are in effect from time to time. 
  
 5. Termination. 
  
 5.1 Death. This Agreement shall terminate automatically upon the death of the Executive. 
  

			
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 5.2 Disability. The Company may terminate this Agreement, upon written notice to the Executive
delivered in accordance with Section 5.6 hereof, upon the Disability of the Executive. 
  
 5.3 Cause. The Company may terminate this Agreement, upon written notice to the Executive delivered in accordance with Section 5.6 hereof, for Cause. For purposes of this Agreement, subject to the notice
provisions set forth below, “Cause” means (i) the Executive’s final conviction of a felony crime that enriched the Executive at the expense of the Company; or (ii) the Executive’s deliberate and intentional continuing failure to
substantially perform his duties and responsibilities hereunder that results in a material injury to the business, condition (financial or otherwise), or results of operations of the Company (except by reason of the Executive’s incapacity due
to Disability) for a period of forty-five (45) calendar days after the “Required Board Majority” (as defined below) has delivered to the Executive a written demand for substantial performance hereunder which specifically identifies the
bases for the Required Board Majority’s determination that the Executive has not substantially performed his duties and responsibilities hereunder (such period being the “Grace Period”); provided, that for purposes of this clause
(ii), the Company shall not have Cause to terminate the Executive’s Employment unless (a) at a meeting of the Board called and held following the Grace Period in the city in which the Company’s principal executive offices are located of
which the Executive was given not less than ten (10) business days’ prior written notice and at which the Executive was afforded the opportunity to be represented by counsel, appear and be heard, the Required Board Majority shall adopt a
written resolution which (1) sets forth the Required Board Majority’s determination that the failure of the Employee to substantially perform his duties and responsibilities hereunder has (except by reason of his incapacity due to Disability)
continued past the Grace Period, and (2) specifically identifies the bases for that determination, and (b) the Company, at the written direction of the Required Board Majority, shall deliver to the Executive a notice of termination for Cause to
which a copy of that resolution, certified as being true and correct by the secretary or any assistant secretary of the Company, is attached. No act or failure to act on the part of the Executive shall be considered “deliberate and
intentional” unless it is taken or omitted to be taken by the Executive in bad faith or without a reasonable belief by the Executive that the Executive’s act or omission was in the best interests of the Company. “Required Board
Majority” means at any time a majority of the members of the Board of Directors of the Company at that time and which includes at least a majority of the independent directors at that time. Termination of the Executive’s employment by the
Company for Cause shall be effective on the date of the notice of termination for Cause is delivered to the Executive. 
  
 5.4 Without Cause. If the Company elects to terminate the Executive’s employment for any reason other than Cause, Disability or death
(“Without Cause”), then the Company may terminate this Agreement Without Cause, upon written notice to the Executive delivered in accordance with Section 5.6 hereof. 
  
 5.5 Good Reason. The Executive may, in his sole discretion, terminate this Agreement for Good Reason, upon written
notice to the Company delivered in accordance with Section 5.6 hereof. For purposes of this Agreement, “Good Reason” means any one of the following: 
  

(i) any action by the Company which results in a material diminishment in the Executive’s position including status, offices,
titles, reporting requirements, authority, duties or responsibilities (including the assignment of duties or responsibilities that are materially inconsistent with the Executive’s duties as contemplated by this Agreement), provided that the
Executive voluntarily terminates his employment for Good Reason hereunder within one (1) year after the date that he has actual notice of such diminishment; 
  

			
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 (ii) any breach by the Company of any of the provisions of this Agreement, provided that
the Executive voluntarily terminates his employment for Good Reason hereunder within one (1) year after the date that he has actual notice of such breach; 
  
 (iii) the Executive is required to relocate to any office or location other than Houston, Texas without his consent, provided however,
that the Executive voluntarily terminates his employment for Good Reason hereunder within one (1) year after the date of such relocation; 
  
 (iv) any reduction, or attempted reduction, at any time of the base salary of the Executive, provided however, that the Executive
voluntarily terminates his employment for Good Reason hereunder within one (1) year after the date or such reduction or attempted reduction; 
  
 (v) the taking of any action by the Company which would adversely affect the Executive’s participation in or materially reduce the
Executive’s benefits provided under Section 4.4 hereof, unless (A) there is substituted a comparable benefit that is at least economically equivalent (in terms of the benefit offered to the Executive) to the benefit in which the
Executive’s participation is being adversely affected or to the Executive’s benefits that are being materially reduced, or (B) the taking of such action affects all other senior executive officers of the Company, provided however, that the
Executive voluntarily terminates his employment for Good Reason hereunder within one (1) year after the date that the Company takes such action resulting in the adverse effect; or 
  
 (vi) a Change in Control shall have occurred, provided however that the Executive voluntarily terminates his
employment for Good Reason hereunder within one (1) year after the date that the Change in Control has occurred. 
  
 Notwithstanding the preceding provisions of this Section 5.5, if the Executive desires to terminate his employment for Good Reason, he shall first give
written notice of the facts and circumstances providing the basis for Good Reason to the Board or the Compensation Committee thereof, and allow the Company ten (10) business days from the date of such notice to remedy, cure or rectify the situation
giving rise to Good Reason to the reasonable satisfaction of the Executive. 
  
 If the Executive elects not to terminate this Agreement for a Good Reason because of a particular circumstance within the time specified, then the Good Reason will no longer be available for that particular
circumstance, but shall remain available for other circumstances, if any, to which that definition of Good Reason also applies. 
  

			
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 5.6 Notice of Termination. Any termination of this Agreement by the Company or the Executive,
except for a termination due to the death of the Executive, shall be communicated by Notice of Termination to the other party hereto given in accordance with Section 13.1 of this Agreement. For purposes of this Agreement, a “Notice of
Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the
Executive’s employment under the provision so indicated, and (iii) specifies the termination date, if such date is other than the date of receipt of such notice (which termination date shall not be more than 15 calendar days after the giving of
such notice, unless otherwise provided herein). Notwithstanding the foregoing, the Company may elect to consider the Executive as an employee after the Date of Termination for purposes of complying with the provisions of Section 6 hereof.

  
 6. Obligations of the Company upon
Termination. 
  
 6.1 Cause; Other Than Good
Reason. If this Agreement shall be terminated either (i) by the Company for Cause or (ii) by the Executive for any reason other than Good Reason, the Company shall pay to the Executive, in a lump sum in cash within three (3) business days after
the Date of Termination, an amount equal to the sum of: 
  
 (a) the aggregate of the Executive’s base salary (as in effect on the Date of Termination) through the Date of Termination, 
  
 (b) if not theretofore paid, any accrued but unpaid vacation pay, and 
  
 (c) in the case of compensation previously deferred by the
Executive, all amounts of such compensation previously deferred and not yet paid by the Company, if any. 
  
 The Company shall include with such payment a schedule showing its derivation and calculations for the above amounts. 
  
 All other obligations of the Company and rights of the
Executive hereunder shall terminate effective as of the Date of Termination, except as provided for in any applicable Employee Health and Welfare Plans, any applicable Compensation Plans or as otherwise provided in this Agreement. 
  
 6.2 Death or Disability. If this Agreement is terminated as a result
of the Executive’s death or Disability, the Company shall pay to the Executive or his estate, in a lump sum in cash within three (3) business days of the Date of Termination, an amount equal to the sum of: 
  
 (a) the Executive’s base salary (as in effect on the
Date of Termination) through the Date of Termination, 
  
 (b) if not theretofore paid, any accrued but unpaid vacation pay, and 
  

			
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 (c) in the case of compensation previously deferred by the Executive, all amounts of such
compensation previously deferred and not yet paid by the Company, if any. 
  
 The Company shall include with such payment a schedule showing its derivation and calculations for the above amounts. 
  
 The Executive or his estate shall also be entitled to receive those death and Disability benefits to which the Executive is entitled under
any applicable Employee Health and Welfare Plans or Compensation Plans. All other obligations of the Company and rights of the Executive hereunder shall terminate effective as of the Date of Termination, except as provided for in any applicable
Employee Health and Welfare Plans, any applicable Compensation Plans or as otherwise provided in this Agreement. 
  
 6.3 Good Reason; Without Cause. If this Agreement shall be terminated either (i) by the Executive for Good Reason or (ii) by the Company Without
Cause: 
  
 (a) The Company shall pay to the
Executive, in a lump sum in cash within three (3) business days after the Date of Termination, an amount equal to the sum of: 
  
 (i) if not theretofore paid, the Executive’s base salary (as in effect on the Date of Termination) through the Date of Termination;

  
 (ii) if not theretofore paid, any accrued
but unpaid vacation pay, 
  
 (iii) in the case
of compensation previously deferred by the Executive, all amounts of such compensation previously deferred and not yet paid by the Company, if any; and 
  
 (iv) a severance payment equal to 2.99 times the Executive’s “base amount” with the meaning of Section 280G(b)(3) and
280G(d) of the Code. In the event that Section 280G of the Code is amended, replaced or supplemented by other provisions which would reduce the amount of such severance payment, or if Section 280G is no longer in effect for any reason, then the term
“base amount” for purposes of this Agreement shall mean the five (5)-year average of all compensation includible in the Executive’s gross income from Company sources for the most recent five (5) years ending prior to the Date of
Termination. 

	

  
 The Company
shall include with such payment a schedule showing its derivation and calculations for the above amounts. 
  
 (b) (i) If the Agreement shall be terminated by the Executive because of Good Reason other than the occurrence of a Change of Control, or
by the Company without Cause, then during the 18-month period commencing on the Date of 
  

			
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 Termination; and, (ii) if the Agreement shall be terminated by the Executive for Good Reason which is a
Change of Control, then during the 36-month period commencing on the Date of Termination, in each case, the Company shall continue benefits (other than disability benefits), at the Company’s expense, to the Executive and/or the Executive’s
family under the Company’s then existing Employee Health and Welfare Plans for such periods, as applicable, in each case at least equal to those which would have been provided to them under Section 4.4 hereof if the Executive’s employment
had not been terminated. If (i) the terms of any Employee Health and Welfare Plan precludes the Executive’s continued participation in that plan, (ii) the Executive’s continued participation in any in any particular Employee Health and
Welfare Plan could reasonably be expected to disqualify that plan under any applicable tax regulation, or (iii) the Executive provides the Company with written notice that he voluntarily elects not to participate in any particular Employee Health
and Welfare Plan, then, in each case, the Executive shall not be entitled to participate in that particular Employee Health and Welfare Plan, but in each case the Company instead shall provide the Executive with the after-tax equivalent of the COBRA
payments or other payments necessary for the Executive and his family to participate in that particular Employee Health and Welfare Plan or a substantial similar plan for the remainder of the 36-month period. 
  
 (c) Any determination by the Executive pursuant to this
Section 6.3 that Good Reason exists for the Executive’s termination of employment and that adequate remedy has not occurred shall be presumed correct and shall govern unless the party contesting the determination shows by a clear and convincing
preponderance of the evidence that it was not a good faith reasonable determination. 
  
 (d) Notwithstanding any dispute concerning whether Good Reason exists for termination of employment or whether an adequate remedy has
occurred, the Company shall immediately pay to the Executive any amounts otherwise due under this Section 6.3. The Executive may be required to repay such amounts to the Company without interest if any such dispute is finally determined adversely to
the Executive. 
  
 (e) The Executive shall not be
required to mitigate damages with respect to the amount of any payment provided under this Section 6.3 by seeking other employment or otherwise, nor shall the amount of any payment provided under this Section 6.3 be reduced by retirement benefits,
deferred compensation or any compensation earned by the Executive as a result of employment by another employer or by self-employment. 
  
 7. Payments by the Company. Any payments by the Company to the Executive after the termination of the Executive’s employment with the Company for any reason
shall be made by a cashier’s check, or by wire transfer of immediately available funds to an account specified by the Executive. 
  
 8. Executive’s Confidentiality Obligations. 
  
 8.1 For purposes of this Section 8, all references to the Company shall include its Affiliates. The Executive hereby acknowledges, understands and agrees
that all Confidential Information, as defined in Section 8.2 hereof, whether developed by the Executive or others employed by or in any way associated with the Executive or the Company, is the exclusive and confidential property of the Company and
shall be regarded, treated and 
  

			
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 protected as such in accordance with this Agreement. The Executive acknowledges that all such Confidential Information is
in the nature of a trade secret. Failure to mark any writing confidential shall not affect the confidential nature of such writing or the information contained therein. 
  
 8.2 For purposes of this Agreement, “Confidential Information” means information, which is used in the business of
the Company and (i) is proprietary to, about or created by the Company, (ii) gives the Company some competitive business advantage or the opportunity of obtaining such advantage or the disclosure of which could be detrimental to the interests of the
Company, (iii) is designated as Confidential Information by the Company, is known by the Executive to be considered confidential by the Company, or from all the relevant circumstances should reasonably be assumed by the Executive to be confidential
and proprietary to the Company, or (iv) is not generally known by non-Company personnel. Confidential Information excludes, however, any information that is lawfully in the public domain or has been publicly disclosed by the Company. Such
Confidential Information includes, without limitation, the following types of information and other information of a similar nature (whether or not reduced to writing or designated as confidential): 
  
 (a) Internal personnel and financial information of the
Company, vendor information (including vendor characteristics, services, prices, lists and agreements), purchasing and internal cost information, internal service and operational manuals, and the manner and methods of conducting the business of the
Company; 
  
 (b) Marketing and development plans,
price and cost data, price and fee amounts, pricing and billing policies, quoting procedures, marketing techniques, forecasts and forecast assumptions and volumes, and future plans and potential strategies (including, without limitation, all
information relating to any acquisition prospect and the identity of any key contact within the organization of any acquisition prospect) of the Company which have been or are being discussed; 
  
 (c) Names of customers and their representatives, contracts
(including their contents and parties), customer services, and the type, quantity, specifications and content of products and services purchased, leased, licensed or received by customers of the Company; and 
  
 (d) Confidential and proprietary information provided to the
Company by any actual or potential customer, government agency or other third party (including businesses, consultants and other entities and individuals). 
  
 8.3 As a consequence of the Executive’s acquisition or anticipated acquisition of Confidential Information, the Executive shall occupy a position of
trust and confidence with respect to the affairs and business of the Company. In view of the foregoing and of the consideration to be provided to the Executive, the Executive agrees that it is reasonable and necessary that the Executive make each of
the following covenants: 
  
 (a) At any time
while employed by the Company and thereafter, the Executive shall not disclose Confidential Information to any person or entity, other than as 
  

			
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 reasonably appropriate or necessary in carrying out his duties and responsibilities as set forth in
Section 2 hereof, without first obtaining the Company’s prior consent (unless such disclosure is compelled pursuant to court orders or subpoena, and at which time the Executive shall give prior written notice of such proceedings to the
Company). 
  
 (b) At any time while employed by
the Company, the Executive shall use Confidential Information only as reasonably appropriate or necessary in carrying out his duties and responsibilities as set forth in Section 2 hereof. 
  
 (c) On the Date of Termination, the Executive shall promptly
deliver to the Company (or its designee) all written materials, records and documents made by the Executive or which came into his possession while employed by the Company concerning the business or affairs of the Company, including, without
limitation, all materials containing Confidential Information. 
  
 9.
Disclosure of Information, Ideas, Concepts, Improvements, Discoveries and Inventions. 
  
 The Executive agrees that during his employment by the Company, the Executive shall promptly disclose to the Company all information, ideas, concepts, improvements, discoveries and inventions, whether patentable or
not, and whether or not reduced to practice, which are conceived, developed, made or acquired by the Executive while employed by the Company, either individually or jointly with others, and which relate to the business, products or services of the
Company, irrespective of whether the Executive used the Company’s time or facilities and irrespective of whether such information, idea, concept, improvement, discovery or invention was conceived, developed, discovered or acquired by the
Executive on the job, at home, or elsewhere. This obligation extends to all types of information, ideas and concepts, including information, ideas and concepts relating to new types of services, corporate opportunities, acquisition prospects,
prospective names or service marks for the Company’s business activities, and the like. 
  
 10. Ownership of Information, Ideas, Concepts, Improvements, Discoveries and Inventions, and all Original Works of Authorship. 
  
 10.1 All references in this Section 10 to the Company shall include its Affiliates. All information, ideas, concepts,
improvements, discoveries and inventions, whether patentable or not, which are conceived, made, developed or acquired by the Executive or which are disclosed or made known to the Executive, individually or in conjunction with others, during the
Executive’s employment by the Company and which relate to the business, products or services of the Company (including, without limitation, all such information relating to corporate opportunities, research, financial and sales data, pricing
and trading terms, evaluations, opinions, interpretations, acquisition prospects, the identity of customers or their requirements, the identity of key contacts within the customers’ organizations, marketing and merchandising techniques, and
prospective names and service marks) are and shall be the sole and exclusive property of the Company. Furthermore, all drawings, memoranda, notes, records, files, correspondence, manuals, models, specifications, computer programs, maps and all other
writings or materials of any type embodying any of such information, ideas, concepts, improvements, discoveries and inventions are and shall be the sole and exclusive property of the Company. 
  

			
	 Agreements\Employment\von Rosenberg 09-21-04
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 10.2 In particular, the Executive hereby specifically sells, assigns, transfers and conveys to the
Company all of his worldwide right, title and interest in and to all such information, ideas, concepts, improvements, discoveries or inventions, and any United States or foreign applications for patents, inventor’s certificates or other
industrial rights which may be filed in respect thereof, including divisions, continuations, continuations-in-part, reissues and/or extensions thereof, and applications for registration of such names and service marks. The Executive shall assist the
Company and its nominee at all times, while employed by the Company and thereafter, in the protection of such information, ideas, concepts, improvements, discoveries or inventions, both in the United States and all foreign countries, which
assistance shall include, but shall not be limited to, the execution of all lawful oaths and all assignment documents requested by the Company or its nominee in connection with the preparation, prosecution, issuance or enforcement of any
applications for United States or foreign letters patent, including divisions, continuations, continuations-in-part, reissues and/or extensions thereof, and any application for the registration of such names and service marks. 
  
 10.3 In the event the Executive creates, while employed by the Company, any
original work of authorship fixed in any tangible medium of expression which is the subject matter of copyright (such as, videotapes, written presentations on acquisitions, computer programs, drawings, maps, architectural renditions, models,
manuals, brochures or the like) relating to the Company’s business, products or services, whether such work is created solely by the Executive or jointly with others, the Company shall be deemed the author of such work if the work is prepared
by the Executive in the scope of his employment; or, if the work is not prepared by the Executive within the scope of his employment but is specially ordered by the Company as a contribution to a collective work, as a part of a motion picture or
other audiovisual work, as a translation, as a supplementary work, as a compilation or as an instructional text, then the work shall be considered to be work made for hire, and the Company shall be the author of such work. If such work is neither
prepared by the Executive within the scope of his employment nor a work specially ordered and deemed to be a work made for hire, then the Executive hereby agrees to sell, transfer, assign and convey, and by these presents, does sell, transfer,
assign and convey, to the Company all of the Executive’s worldwide right, title and interest in and to such work and all rights of copyright therein. The Executive agrees to assist the Company and its Affiliates, at all times, while employed by
the Company and thereafter, in the protection of the Company’s worldwide right, title and interest in and to such work and all rights of copyright therein, which assistance shall include, but shall not be limited to, the execution of all
documents requested by the Company or its nominee and the execution of all lawful oaths and applications for registration of copyright in the United States and foreign countries. 
  
 10.4 The provisions of this Section 10 shall not supersede any existing proprietary information agreement between the
Executive and the Company which shall remain in full force and effect and, moreover, this Agreement, any other proprietary information agreement and any such other similar agreement between the parties shall be construed and applied as being
mutually consistent to the fullest extent possible. 
  

			
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 11. Excise Taxes. 
  
 11.1 Should any of the payments of the Executive’s base salary, severance payments other incentive or supplemental
compensation, benefits, allowances, awards, payments, reimbursements or other perquisites, or any other payment in the nature of compensation, singly, in any combination or in the aggregate, that are provided for under this Agreement or otherwise to
be paid to or for the benefit of the Executive be determined or alleged to be subject to an excise or similar purpose tax pursuant to Section 4999 of the Code, or any successor or other comparable federal, state or local tax law by reason of being a
“parachute payment” (within the meaning of Section 280G of the Code), the Company shall pay to the Executive such additional compensation as is necessary (after taking into account all federal, state and local taxes payable by the
Executive as a result of the receipt of such additional compensation) to place the Executive in the same after-tax position (including federal, state and local taxes) he would have been in had no such excise or similar purpose tax (or interest or
penalties thereon) been paid or incurred. The Company hereby agrees to pay such additional compensation within the earlier to occur of (i) five (5) business days after the Executive notifies the Company that the Executive intends to file a tax
return taking the position that such excise or similar purpose tax is due and payable in reliance on a written opinion of the Executive’s tax counsel (such tax counsel to be chosen solely by the Executive) that it is more likely than not that
such excise tax is due and payable, or (ii) three (3) business days of any notice of or action by the Company that it intends to take the position that such excise tax is due and payable. As long as such tax counsel was chosen by the Executive in
good faith, the conclusions reached in such opinion, if not manifestly erroneous, shall not be challenged or disputed by the Company. If the Executive intends to make any payment with respect to any such excise or similar purpose tax as a result of
an adjustment to the Executive’s tax liability by any federal, state or local tax authority, the Company will pay such additional compensation by delivering its cashier’s check payable in such amount to the Executive within five (5)
business days after the Executive notifies the Company of his intention to make such payment. 
  
 11.2 The Executive agrees to reasonably cooperate with the Company to minimize the amount of the excise or similar purpose tax; provided, however, that the Executive shall not be required to take any action which is
improper, exposes the Executive to personal liability, or is inconsistent with the overall tax interests of the Executive. The Executive may require the Company to deliver to the Executive an indemnification agreement in form and substance
reasonably satisfactory to the Executive as a condition to taking any action required by this Section 11.2. 
  
 11.3 In the event that there is any change to the Code which results in the recodification of Section 280G or Section 4999 of the Code, or in the event
that either such section of the Code is amended, replaced or supplemented by other provisions of the Code of similar import, then this Agreement shall be applied and enforced with respect to such new Code provisions in a manner consistent with the
intent of the parties as expressed herein, which is to assure that the Executive is in the same after-tax position and has received the same benefits that he would have been in and received if any taxes imposed by Section 4999 (or any successor
provisions) had not been imposed. 
  

			
	 Agreements\Employment\von Rosenberg 09-21-04
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 11.4 The Company shall indemnify and hold harmless the Executive, on an after-tax basis, from any costs,
expenses, penalties, fines, interest or other liabilities incurred by the Executive with respect to the exercise by the Company of any of its rights under Section 11 hereof, including, without limitation, any costs, expenses, penalties, fines,
interest or other liabilities related to the Company’s decision to contest the applicability of any excise or similar purpose tax or Section 280G under the Code or a claim of any imputed income to the Executive. The Company shall pay all fees
and expenses incurred under Section 11 hereof, and shall promptly reimburse the Executive for the expenses incurred by the Executive in connection with any actions taken by the Company or required to be taken by the Executive hereunder. 

 
 12. Executive’s Non-Competition Obligations. 
  
 12.1 (a) All references in this Section 12 to the Company shall include its
Affiliates. While employed by the Company and for the three (3) year period following the Date of Termination, the Executive shall not, acting alone or in conjunction with others, directly or indirectly, in the United States and any other business
territories in which the Company on the Date of Termination is conducting business, invest or engage, directly or indirectly, in any Competing Business or accept employment with or render services to such a Competing Business as a director, officer,
agent, executive or consultant or in any other capacity; provided, however, that this Section 12.1(a) shall not be deemed violated if the Executive is or becomes the beneficial owner of up to three (3) percent of the stock of any corporation subject
to the periodic reporting requirements of the Exchange Act at the time of the acquisition of such beneficial ownership. Notwithstanding the above, the Executive may serve as an officer, director, agent, employee or consultant to a Competing Business
whose business is diversified and which is, as to the part of its business to which the Executive is providing services, not a Competing Business. 
  
 (b) In addition to the other obligations agreed to by the Executive in this Agreement, the Executive agrees that for three (3) years
following the Date of Termination hereof, he shall not directly or indirectly: (i) hire or attempt to hire any employee of the Company, or induce, entice, encourage or solicit any employee of the Company to leave his or her employment, or (ii)
contact, communicate or solicit any distributor or customer of the Company for the purpose of causing them to terminate or alter or amend their business relationship with the Company to the Company’s detriment. 
  
 12.2 (a) The Executive hereby specifically acknowledges and agrees that:

  
 (1) The Company has expended and will
continue to expend substantial time, money and effort in developing its business; 
  
 (2) The Executive will, in the course of his employment, be personally entrusted with and exposed to Confidential Information; 

 
 (3) The Company, is presently, and after the Date of
Termination will be, engaged in its highly competitive business; 
  
 (4) The Executive could, after having access to the Company’s financial records, contracts, and other Confidential Information and know-how and, after receiving training by and experience with the Company, become
a competitor; 
  

			
	 Agreements\Employment\von Rosenberg 09-21-04
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 (5) The Company will suffer great loss and irreparable harm if the Executive terminates
his employment and enters, directly or indirectly, into competition with the Company; 
  
 (6) The temporal and other restrictions contained in this Section 12 are in all respects reasonable and necessary to protect the business
goodwill, trade secrets, prospects and other reasonable business interests of the Company; 
  
 (7) The enforcement of this Agreement in general, and of this Section 12 in particular, will not work an undue or unfair hardship on the
Executive or otherwise be oppressive to him; it being specifically acknowledged and agreed by the Executive that he has activities and other business interests and opportunities which will provide him adequate means of support if the provisions of
this Section 12 are enforced after the Termination Date; and 
  
 (8) The enforcement of this Agreement in general, and of this Section 12 in particular, will neither deprive the public of needed goods or services nor otherwise be injurious to the public. 
  
 (b) The Executive agrees that if an arbitrator (pursuant to
Section 13.13 hereof) or the United States District Court for the Southern District of Texas – Houston Division determines that the length of time or any other restriction, or portion thereof, set forth in this Section 12 is overly restrictive
and unenforceable, the arbitrator or the United States District Court for the Southern District of Texas – Houston Division shall reduce or modify such restrictions to those which it deems reasonable and enforceable under the circumstances, and
as so reduced or modified, the parties hereto agree that the restrictions of this Section 12 shall remain in full force and effect. The Executive further agrees that if an arbitrator or the United States District Court for the Southern District of
Texas – Houston Division determines that any provision of this Section 12 is invalid or against public policy, the remaining provisions of this Section 12 and the remainder of this Agreement shall not be affected thereby, and shall remain in
full force and effect. 
  
 (c) In the event of
any pending, threatened or actual breach of any of the covenants or provisions of Sections 8, 9, 10 or 12 hereof, as determined by the United States District Court for the Southern District of Texas – Houston Division, it is understood and
agreed by the Executive that the remedy at law for a breach of any of the covenants or provisions of these Sections may be inadequate and, therefore, the Company shall be entitled to a restraining order or injunctive relief in addition to any other
remedies at law and in equity, as determined by the United States District Court for the Southern District of Texas – Houston Division. Should the United States District Court for the Southern District of Texas – Houston Division or an
arbitrator (pursuant to Section 13.13 hereof) declare any provision of Sections 8, 9, 10 or 12 hereof to be unenforceable due to an unreasonable restriction of duration or geographical area, or for 
  

			
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 any other reason, such court or arbitrator is hereby granted the consent of each of the Executive and the
Company to reform such provision and/or to grant the Company any relief, at law or in equity, reasonably necessary to protect the reasonable business interests of the Company or any of its Affiliates. The Executive hereby acknowledges and agrees
that all of the covenants and other provisions of Sections 8, 9, 10 or 12 hereof are reasonable and necessary for the protection of the Company’s reasonable business interests. The Executive hereby agrees that if the Company prevails in any
action, suit or proceeding with respect to any matter arising out of or in connection with Sections 8, 9, 10 or 12 hereof, the Company shall be entitled to all equitable and legal remedies, including, but not limited to, injunctive relief and
compensatory damages, as determined by the United States District Court for the Southern District of Texas – Houston Division. 
  
 (d) It is acknowledged, understood and agreed by and between the parties hereto that the covenants made by the Executive in this Section
12 are essential elements of this Agreement and that, but for the agreement of the Executive to comply with such covenants, the Company would not have entered into this Agreement. 
  
 13. Miscellaneous. 
  
 13.1 Notices. All notices and other communications required or permitted hereunder or necessary or convenient in connection herewith shall be in
writing and shall be deemed to have been given when (i) delivered by hand, (ii) in the case of deliveries to the Company only, by facsimile transmission, or (ii) on the third business day following deposit in the United States mail by registered or
certified mail, return receipt requested, to the addresses as follows (provided that notice of change of address shall be deemed given only when received): 
  

			
	 If to the Company to:
	 	Omega Protein Corporation
	 	 	1717 St. James Place, Suite 550
	 	 	Houston, Texas 77056
	 	 	Attention: Corporate Secretary
	 	 	Facsimile: (713) 940-6122
		
	 If to the Executive to:
	 	Joseph L. von Rosenberg III

  
 or to such other names or addresses as
the Company or the Executive, as the case may be, shall designate by notice to the other party hereto in the manner specified in this Section 13.1. 
  
 13.2 Waiver of Breach. The waiver by any party hereto of a breach of any provision of this Agreement shall neither operate nor be construed as a
waiver of any subsequent breach by any party. Except as expressly provided for herein, the failure of either party hereto to take any action by reason of any breach will not deprive such party of the right to take action at any time while such
breach occurs. 
  

			
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 13.3 Assignment. This Agreement shall be binding upon and inure to the benefit of the Company, its
successors, legal representatives and assigns, and upon the Executive, his heirs, executors, administrators, representatives and assigns; provided, however, the Executive agrees that his rights and obligations hereunder are personal to him and may
not be assigned without the express written consent of the Company. Any reference to “Company” herein shall mean the Company as well as any successors thereto. 
  
 13.4 Entire Agreement; No Oral Amendments. This Agreement replaces all previous agreements and discussions relating
to the same or similar subject matter between the Executive and the Company (including the Prior Agreement) and constitutes the entire agreement between the Executive and the Company with respect to the subject matter of this Agreement. This
Agreement does not amend, and is not intended to affect or replace, the Indemnification Agreement dated June 11, 2004 previously entered into by the Executive and the Company. This Agreement may not be modified in any respect by any verbal
statement, representation or agreement made by any executive, officer, or representative of the Company or by any written agreement unless signed by an officer of the Company who is expressly authorized by the Company to execute such document.

  
 13.5 Enforceability. If any provision of this Agreement
or application thereof to anyone or under any circumstances shall be determined to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provisions or applications of this Agreement which can be given effect
without the invalid or unenforceable provision or application. If the effect of a holding or finding that any such provision is invalid, illegal or unenforceable is to modify to the Executive’s detriment, reduce or eliminate any compensation,
reimbursement, payment, allowance or other benefit to the Executive intended by the Company and Executive in entering into this Agreement, the Company shall, within thirty (30) calendar days after the date of such finding or holding, negotiate and
expeditiously enter into an agreement with the Executive which contains alternative provisions (reasonably acceptable to the Executive) that will restore to the Executive (to the extent lawfully permissible) substantially the same economic,
substantive and income tax benefits and legal rights the Executive would have enjoyed had such provision been upheld as legal, valid and enforceable. 
  
 13.6 Choice of Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICTS OF LAW. 
  
 13.7 Corporate
Authority. The Company has all corporate power and authority necessary to enter into this Agreement and to perform its obligations hereunder. This Agreement has been duly authorized, executed and delivered by the Company. 
  
 13.8 No Third Party Beneficiaries. This Agreement is not intended, and
shall not be construed, deemed or interpreted, to confer on any person not a party hereto any rights or remedies hereunder. 
  
 13.9 Withholdings: Right of Offset. The Company may withhold and deduct from any benefits and payments made or to be made pursuant to this
Agreement (a) all federal, state, local and other taxes as may be required by law, (b) all other employee deductions for Employee 
  

			
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 Health and Welfare Plans made with respect to all of the Company’s employees generally, and (c) any cash advances
made to the Executive while employed by the Company and still owed to the Company. Other than as set forth in the preceding sentence, the Company’s obligations to make the payments provided for in, and otherwise to perform its undertakings in,
this Agreement shall not be affected by any right of set-off, counterclaim, recoupment, defense or other action, claim or right the Company may have against the Executive or others. 
  
 13.10 Alienation. The right to receive payments under this Agreement shall not be subject in any manner to
anticipation, alienation, sale, transfer, assignment, pledge or encumbrance by the Executive, his dependents or beneficiaries, or to any other person who is or may become entitled to receive such payments hereunder. The right to receive payments
hereunder shall not be subject to or liable for the debts, contracts, liabilities, engagements or torts of any person who is or may become entitled to receive such payments, nor may the same be subject to attachment or seizure by any creditor of
such person under any circumstances, and any such attempted attachment or seizure shall be void and of no force and effect. 
  
 13.11 Intended Benefits; Payment of Expenses. In entering into this Agreement the Company intends that the Executive receive without reduction or
delay all the intended benefits of this Agreement and that those benefits, and the terms and conditions hereof, be construed in a manner most favorable to the Executive. The Company agrees that it will strive expeditiously and in absolute good faith
to construe and resolve in the Executive’s favor and to his benefit any ambiguities or uncertainties that may be created by the express language hereof. If, however, at any time: (i) there should exist a dispute or conflict between the
Executive and the Company or another person or entity as to the validity, interpretation or application of any term or condition hereof, or as to the Employee’s entitlement to any benefit intended to be bestowed hereby, which is not resolved to
the satisfaction of the Executive, or (ii) the Executive must (A) defend the validity of this Agreement, or (B) contest any determination by the Company concerning the amounts payable by the Company to the Executive or the Executive’s rights to
the other benefits conferred under this Agreement, any Compensation Plan or any Employee Health and Welfare Plan, then the Company and the Executive hereby unconditionally agree that: 
  
 (a) on written demand of the Company by the Executive, to provide sums sufficient to advance and pay on a
current basis (either by paying directly or by reimbursing the Executive) not less than three (3) business days after a written request therefore is submitted by the Executive, the Executive’s out of pocket costs and expenses incurred by the
Executive in connection with any such matter, including by way of example and without limitation, attorney’s fees, retainers, expenses of investigation, travel, lodging, copying, court costs, transcript fees, delivery services, disbursements
and advances for the fees and expenses of experts and witnesses, duplicating costs, printing and binding costs, telephone charges, postage and all other disbursements or expenses of the types customarily incurred in connection with prosecuting,
defending, preparing to prosecute or defend, investigating, or being or preparing to be a witness or participant in any arbitration or legal proceeding, and all interest or finance charges attributable thereto. Should any payments by the Company
under this Agreement be determined to be subject to any federal, state or local income or excise tax, then “out of pocket costs and expenses” also shall include such amounts as are necessary to place the Executive in the same after-tax
position (after giving effect to all applicable taxes) that he would have been in had no such tax been determined to apply to such payments; 
  

			
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 (b) the Executive shall be entitled, upon application to the United States District Court
for the Southern District of Texas – Houston Division, to the entry of a mandatory injunction without the necessity of posting any bond with respect thereto which compels the Company to pay or advance such costs and expenses on a current basis;
and 
  
 (c) the Company’s obligations under
this Section 13.11 will not be affected if the Executive is not the prevailing party in the final resolution of any such matter. 
  
 Any Executive out of pocket costs or expenses that have not been so advanced at the conclusion of the matter shall be paid by Company to
the Executive as part of the resolution of the matter. The Company and the Employee each hereby irrevocably consent with respect to any action, suit or other legal proceeding pertaining directly to this Section 13.11 (or in the event any other
provision of this Agreement or the termination of the Executive is subject to any action, suit or other legal proceeding that is not otherwise covered by the arbitration provisions of Section 13.13 hereof) to service of process in the State of
Texas, County of Harris, and hereby waives any right to contest or oppose receipt of such service of process. Each party irrevocably (i) agrees that any such action, suit or other legal proceeding may be brought in the United States District Court
for the Southern District of Texas – Houston Division, (ii) consents to the jurisdiction of such court in any such action, suit or other legal proceeding, and (iii) waives any objection it may have to the laying of venue of any such action,
suit or other legal proceeding in any of such court. 
  
 13.12
Title and Headings; Construction. Titles and headings to Sections hereof are for the purpose of reference only and shall in no way limit, define or otherwise affect the provisions hereof. The words “herein”, “hereof”,
“hereunder” and other compounds of the word “here” shall refer to the entire Agreement and not to any particular provision hereof. 
  
 13.13 Arbitration. (a) If any dispute or controversy arises between the Executive and the Company relating to (1) this Agreement in any way or
arising out of the parties’ respective rights or obligations under this Agreement, or (2) the employment of the Executive or the termination of his employment with the Company, then such dispute or controversy shall be submitted to arbitration
under the then-current Commercial Arbitration Rules of the American Arbitration Association (the “AAA”); provided, however, the Company shall retain its rights to seek from the United States District Court for the Southern District of
Texas – Houston Division a restraining order or injunctive relief pursuant to Section 12.2 hereof, and the Executive shall retain its rights to seek from the United States District Court for the Southern District of Texas – Houston
Division injunctive relief subject to Section 13.11 hereof. Any arbitration hereunder shall be conducted before a panel of three arbitrators unless the parties mutually agree that the arbitration shall be conducted before a single arbitrator. The
arbitrators shall be selected (from lists provided by the AAA) through mutual agreement of the parties, if possible. If the parties fail to reach agreement upon appointment of arbitrators within ten (10) calendar days following receipt by one party
of the other party’s notice of desire to arbitrate, then 
  

			
	 Agreements\Employment\von Rosenberg 09-21-04
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 within five (5) calendar days following the end of such 10-day period, each party shall select one arbitrator who, in
turn, shall within five (5) calendar days jointly select the third arbitrator to comprise the arbitration panel hereunder. The site for any arbitration hereunder shall be in Houston, Texas, unless otherwise mutually agreed by the parties, and the
parties hereby waive any objection that the forum is inconvenient. 
  
 (b) The party submitting any matter to arbitration shall do so in accordance with the AAA Commercial Arbitration Rules. Notice to the other party shall state the question or questions to be submitted for decision or
award by arbitration. Notwithstanding any provision of this Section 13.13, the Executive shall be entitled to seek specific performance of the Executive’s right to be paid during the pendency of any dispute or controversy arising under this
Agreement. In order to prevent irreparable harm, the arbitrator may grant temporary or permanent injunctive or other equitable relief for the protection of property rights. 
  
 (c) The arbitrator shall set the date, time and place for each hearing, and shall give the parties advance
written notice in accordance with the AAA Commercial Arbitration Rules. Any party may be represented by counsel or other authorized representative at any hearing. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. Sections 1
et. seq. (or its successor). The arbitrator shall apply the substantive law and the law of remedies, if applicable, of the State of Texas to the claims asserted to the extent that the arbitrator determines that federal law is not controlling.

  
 (d) (1) Any award of an arbitrator shall be
final and binding upon the parties to such arbitration, and each party shall immediately make such changes in its conduct or provide such monetary payment or other relief as such award requires. The parties agree that the award of the arbitrator
shall be final and binding and shall be subject only to the judicial review permitted by the Federal Arbitration Act. 
  
 (2) The parties hereto agree that the arbitration award may be entered with any court having jurisdiction and the award may then be
enforced as between the parties, without further evidentiary proceedings, the same as if entered by the court at the conclusion of a judicial proceeding in which no appeal was taken. The Company and the Executive hereby agree that a judgment upon
any award rendered by an arbitrator may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 
  
 (e) All compensation, fees, costs and expenses of the arbitrators and the arbitration shall be paid by the Company. If requested by the
Executive pursuant to Section 13.11 hereof, the Company shall advance to the Executive all of the Executive’s costs and expenses in connection with the arbitration as set forth in Section 13.11 hereof. 
  
 13.14 Survival of Certain Provisions. Wherever appropriate to the
intention of the parties hereto, the respective rights and obligations of the parties shall survive any termination of this Agreement. 
  

			
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 13.15 Interest. If any amounts required to be paid or reimbursed to the Executive hereunder after
the termination of the Executive’s employment with the Company for any reason, are not so paid or reimbursed by the Company at the times provided herein, those unpaid amounts shall accrue interest compounded daily at the annual percentage rate
which is three percentage points (3%) above the interest rate announced by Chase Bank, Houston, Texas (or its successor), from time to time, as its base interest rate (or prime lending rate), from the date those amounts were required to have been
paid or reimbursed to the Executive until those amounts are finally and fully paid or reimbursed; provided, however, that in no event shall the amount of interest contracted for, charged or received hereunder exceed the maximum non-usurious amount
of interest allowed by applicable law. 
  
 [Signature page
follows] 
  

			
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	 	22

 IN WITNESS WHEREOF, the undersigned, intending to be legally bound, have executed this Agreement as of
the date first written above. 
  

			
	 OMEGA PROTEIN CORPORATION

		
	 By:
	 	 /s/ Robert W. Stockton

	 	 	Robert W. Stockton
	 	 	 Executive Vice President and
 Chief Financial
Officer

	
	 “EXECUTIVE”

		
	 By:
	 	 /s/ Joseph L. von Rosenberg III

	 	 	Joseph L. von Rosenberg III

  

			
	 Agreements\Employment\von Rosenberg 09-21-04
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