Document:

Amendment No. 1 to Employment Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT

 This Amendment No. 1 (the “Amendment”) is entered into as of April 5, 2012 (the
“Effective Date”), by and between Gevo, Inc., a Delaware corporation (the “Company”), and Brett Lund, an individual (the “Employee”). Capitalized terms used but not defined
herein shall have the meanings assigned to them in the Employment Agreement (as defined below). 
 RECITALS 

WHEREAS, the Company and the Employee previously entered into an Employment Agreement, dated
as of June 4, 2010 (the “Employment Agreement”), pursuant to which, among other things, the Employee agreed to render certain specified services to the Company during the Term; 

WHEREAS, the Company desires to amend the Employment Agreement in order to better retain the
Employee and align the compensation of the Employee with the strategic objectives of the Company; and 

WHEREAS, the Employee has agreed to such amendments, on the terms and subject to the
conditions set forth in this Amendment. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing recitals, and for
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows: 
 1. Amendments to Employment Agreement. 
 (a) Section 3.1 of the
Employment Agreement is hereby amended and restated in its entirety to read as follows: 
 “3.1 Base
Salary. As compensation for the services to be rendered by the Executive pursuant to this Agreement, the Company hereby agrees to pay the Executive an annual base salary (the “Base Salary”) of Three Hundred and Twenty-Five
Thousand Dollars (U.S. $325,000.00) (or such higher amount as the Company is paying the Executive as of the Commencement Date) during the Term of this Agreement, which amount shall be reviewed by the Board (or designated committee thereof) at least
annually and may be increased (but not reduced) by the Board (or designated committee thereof) in such amounts as the Board (or designated committee thereof) deems appropriate. The Base Salary shall be paid in accordance with the normal payroll
practices of the Company.” 
 (b) Section 3.2 of the Employment Agreement is hereby amended and restated in its
entirety to read as follows: 
 “3.2 Bonus. The Executive shall be eligible to receive an annual
bonus of up to 40% of his Base Salary based on the Company’s and the Executive’s attaining certain 

  
 1. 

 
business goals established by the Board (or designated committee thereof) (the “Bonus”). Provided that the Commencement Date occurs during the first half of a calendar year, the
annual goals for the calendar year in which the Commencement Date occurs shall be determined and communicated in writing to the Executive no later than ninety (90) days after the Commencement Date. The annual goals for each subsequent year
during the Term shall be determined and communicated in writing to the Executive no later than ninety (90) days after the first day of the year. In addition, the Executive may be entitled to receive such additional bonus amounts as the Board
(or designated committee thereof) shall determine in its discretion. In determining such additional amounts, if any, the Board (or designated committee thereof) shall consider among other things the Executive’s contribution to the
accomplishment of the Company’s long-range business goals, the success of various corporate strategies in which the Executive participated, and the Executive’s unique services in connection with the maintenance of or increase in
stockholder value in the Company. Any bonus shall be paid as promptly as practicable following the end of the fiscal year, but not later than the March 15th immediately following the end of such fiscal year.” 

(c) Section 3.3 of the Employment Agreement is hereby amended and restated in its entirety to read as follows: 

“3.3 Stock Options and Related Incentive Plans. During each calendar year of the Term, the Company shall grant
the Executive an award consisting of restricted stock and/or stock options (both with reference to Company common stock) with an aggregate fair market value on the date of grant equal to at least $65,000 (as reasonably determined by the Company) and
may, at the discretion of the Chief Executive Officer, grant the Executive additional stock awards with an aggregate fair market value on the date of grant of up to $270,000 in such amounts and subject to such terms (including performance-based
terms) that the Chief Executive Officer deems appropriate. Such awards shall be granted under the Company’s equity incentive plan existing at the time of any such grant. The Company may grant the Executive additional stock awards for shares of
the Company’s common stock in such amounts and terms (including performance-based terms) as the Board (or designated committee therefore) deems appropriate, with the aggregate value of such grants expected not to exceed $260,000 for the first
year. In addition to the foregoing, the Executive shall be eligible to participate in the Company’s existing incentive programs and any additional or successor incentive plan or plans. Any grants made to the Executive pursuant to such plans
shall provide for an expiration date consistent with the provisions of such plans; provided, however, that in no event shall any option remain exercisable beyond its stated expiration date.” 

2. Effective Date. This Amendment shall become effective as of the Effective Date specified above. Except as modified by this
Amendment, the Employment Agreement shall remain in full force and effect in accordance with its terms. In the event of a conflict or inconsistency between this Amendment and the Employment Agreement, the provisions of this Amendment shall govern.

  
 2. 

 3. Amendment. By executing this Amendment below, each of the Company and the
Employee certifies that this Amendment has been executed and delivered in compliance with the terms of Section 9.1 of the Employment Agreement. 
 4. Governing Law. This Amendment shall be construed and enforced in accordance with the laws of the State of Colorado, without giving effect to the principles of
conflict of laws thereof. 
 5. Counterparts. This Amendment may be executed in one or more counterparts, each of
which shall constitute an original and both of which, when taken together, shall constitute one agreement. Facsimile signatures shall be as effective as original signatures. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 3. 

 The parties hereto have caused this Amendment to be executed and delivered as of the day and
year first written above. 
  

			
	EMPLOYEE:
	
	 /s/ Brett Lund

	Brett Lund
	
	COMPANY:
	
	GEVO, INC.
		
	By:	 	 /s/ Patrick Gruber

	Name:	 	Patrick Gruber
	Title:	 	Chief Executive Officer

 [Signature Page to Amendment]Form of Indemnification Agreement

 EXHIBIT 10.1 
 INDEMNIFICATION AGREEMENT 
 This Indemnification Agreement (this
“Agreement”) is made as of                     , by and between GeoResources, Inc., a Colorado corporation (the
“Company”), and                     (“Indemnitee”). 

WITNESSETH: 
 WHEREAS, highly competent persons have become more reluctant to serve publicly traded corporations as directors, officers or in other capacities unless they are provided with adequate
indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; 
 WHEREAS, the uncertainties relating to indemnification have increased the difficulty of retaining and attracting such persons; 

WHEREAS, the Board of Directors of the Company has determined that the difficulty in retaining and attracting such persons is
detrimental to the best interests of the Company’s shareholders and the Company should act to assure such persons that there will be increased certainty of such protection in the future; 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance
expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; and 

WHEREAS, the Indemnitee does not regard the protection available under the Company’s Articles of Incorporation, Bylaws and
insurance as adequate in the present circumstances, and may not be willing to serve the Company without adequate protection, and the Company desires the Indemnitee to continue to serve the Company. 

NOW, THEREFORE, in consideration of Indemnitee’s agreement to provide or continue to provide services to the Company and/or
certain of its affiliates as contemplated hereby, the mutual agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto covenant and agree as follows:

 1. Definitions. As used herein, the following words and terms shall have the following respective meanings (whether
singular or plural): 
 “Articles of Incorporation” means the Articles of Incorporation of the Company (as they
may be amended or restated from time to time). 
 “Board” means the board of directors of the Company.

 “Bylaws” means the bylaws of the Company (as they may be amended or
restated from time to time). 
 “CBCA” means the Colorado Business Corporation Act. 

“Change in Control” shall mean the occurrence of any of the following events: 

 

	 	(i)	the acquisition by any one person, or more than one person acting as a group, of ownership of stock of the Company that, together with stock held by such person or
group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of the Company; 

  

	 	(ii)	the acquisition by any one person, or more than one person acting as a group, of all or substantially all of the Company’s assets during the 12-month period ending
on the date of the most recent acquisition. For purposes of this subsection (ii), “substantially all” means at least 60% of the assets of the Company immediately before such acquisition(s); or 

 

	 	(iii)	when a majority of the members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the
members of the Board before the date of the appointment or election. 

 “Company” has the meaning
set forth in the Preamble and also includes (i) any subsidiary of the Company, and (ii) any domestic or foreign entity that is the successor to the Company by reason of a merger or other transaction in which the Company’s existence
ceased upon the consummation of such transaction. 
 “Covered Capacity” means, with respect to any person, that
such person (or a person for whom he is serving as a legal representative) is or was a director, officer, fiduciary, employee or agent of the Company, or is or was serving at the request of the Company as director, manager, officer, trustee,
partner, promoter, associate, member, fiduciary, employee or agent of another domestic or foreign entity or an employee benefit plan. The term “director” includes the estate or personal representative of a deceased director. The term
“officer” includes the estate or personal representative of a deceased officer. 
 “Expenses” include
all direct and indirect costs, fees and expenses of any type or nature, including, without limitation, all attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, fees of private
investigators and professional advisors, consultants, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements or expenses in
connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, settlement or appeal of or otherwise participating in a Proceeding, including reasonable compensation for time spent by
Indemnitee for which he is not otherwise compensated by the Company or any third party. 

  
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“Expenses” also include expenses incurred in connection with any appeal resulting from any Proceeding, including the premium for, security for, and other costs relating to, any cost
bond, supersedes bond or other appeal bond or its equivalent. “Expenses” do not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 

“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and
neither presently is, nor in the five (5) years previous to his selection or appointment has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party or (ii) any other party to the
Proceeding giving rise to a claim for indemnification hereunder. The term “Independent Counsel” does not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in
representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement, the Bylaws of the Company or under any agreement between Indemnitee and the Company. 

“Proceeding” includes a threatened, pending or completed action, suit, arbitration, alternate dispute resolution,
investigation, inquiry, administrative hearing, appeal or any other actual, threatened or completed proceedings with or brought in the right of the Company or otherwise and whether civil, criminal, administrative or investigative in nature.

 2. Services to the Company. Indemnitee agrees to serve or continue to serve in his current capacity or capacities as a
director, officer, employee, agent or fiduciary of the Company. Indemnitee may also serve, as the Company may reasonably request from time to time, as a director, officer, employee, agent or fiduciary of any other corporation, partnership, limited
liability company, association, joint venture, trust, employee benefit plan or other enterprise in which the Company has an interest. Indemnitee and the Company each acknowledge that they have entered into this Agreement as a means of inducing
Indemnitee to serve or continue to serve the Company in such capacities. Indemnitee may at any time and for any reason resign from such position or positions (subject to any other contractual obligation or any obligation imposed by operation of
law). The Company shall have no obligation under this Agreement to continue Indemnitee in any such position for any period of time and shall not be precluded by the provisions of this Agreement from removing Indemnitee from any such position at any
time. 
 3. Indemnification in Third Party Proceedings. The Company shall indemnify Indemnitee if he was or is a party or
is threatened to be made a party to any Proceeding, except an action by or in the right of the Company, by reason of the fact that he is or was serving or acting in a Covered Capacity, against Expenses, judgments, fines and amounts paid in
settlement actually and reasonably incurred by Indemnitee in accordance with Section 8 in connection with the Proceeding if (i) he acted in good faith, (ii) (A) in the case of conduct in an official capacity, in a manner
which Indemnitee reasonably believed to be in the best interests of the Company and (B) in the case of conduct other than in an official capacity, in a manner which Indemnitee reasonably believed to be not opposed to the best interests of the
Company and, (iii) with respect to any criminal Proceeding, had no reasonable cause to believe his or her conduct was unlawful. The termination of any Proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or
its equivalent, does not, of itself, create a presumption that Indemnitee did not meet the standard of conduct described in this Section 3. 

  
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 4. Derivative Actions. The Company shall indemnify Indemnitee if he was or is a party
or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Company to procure a judgment in its favor, by reason of the fact that Indemnitee is or was serving or acting in a Covered Capacity,
against Expenses actually and reasonably incurred by Indemnitee in accordance with Section 8 and amounts paid in settlement thereof if (i) Indemnitee acted in good faith and (ii) (A) in the case of conduct in an official
capacity, in a manner which Indemnitee reasonably believed to be in the best interests of the Company and (B) in the case of conduct other than in an official capacity, in a manner which Indemnitee reasonably believed to be not opposed to the
best interests of the Company. Indemnification may not be made for any claim, issue or matter as to which Indemnitee has been adjudged by a court of competent jurisdiction, after exhaustion of all appeals therefrom, to be liable to the Company or
for amounts paid in settlement to the Company, unless and only to the extent that the court in which the action or suit was brought or other court of competent jurisdiction determines upon application that in view of all the circumstances of the
case, the person is fairly and reasonably entitled to indemnity for such Expenses as the court deems proper. 
 5.
Indemnification For Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement, to the extent that Indemnitee is a party to or a participant in and is successful on the merits or otherwise
in any Proceeding or in defense of any claim, issue or matter in any Proceeding, in whole or in part, to which Indemnitee was or is a party or is otherwise involved by reason of the fact that he is or was serving or acting in a Covered Capacity, the
Company shall indemnify and hold harmless Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in accordance with Section 8 in connection with any Proceeding or defense. If Indemnitee is not wholly successful in
the Proceeding, the Company shall indemnify and hold harmless Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf to the fullest extent permitted by applicable law. The termination of any claim, issue or matter
in the Proceeding by dismissal, with or without prejudice, by reason of settlement, judgment, order or otherwise, shall be deemed to be a successful result as to such Proceeding, claim, issue or matter, so long as there has been no finding that
Indemnitee (i) derived an improper personal benefit pursuant to Section 7-109-102 of the CBCA, (ii) did not act in good faith, (iii) in the case of conduct in an official capacity, did not act in a manner which Indemnitee
reasonably believed to be in the best interests of the Company, (iii) in the case of conduct other than in an official capacity, did not act in a manner which Indemnitee reasonably believed to be not opposed to the best interests of the Company
or (iv) with respect to any criminal proceeding or action, had reasonable cause to believe his or her conduct was unlawful. 
 6. Indemnification For Expenses of a Witness. To the extent Indemnitee is, by reason of his or her serving or acting in a Covered Capacity, a witness in any Proceeding to which Indemnitee is not a
party, Indemnitee shall be indemnified and held harmless against all Expenses actually and reasonably incurred by him or on his behalf in accordance with Section 8 in connection with the Proceeding and his or her acting as a witness in
it. 

  
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 7. Exclusions. 

(a) Notwithstanding the foregoing, indemnification, unless ordered by a court pursuant to Section 7-109-105 of the CBCA or for the
advancement of Expenses made pursuant to Section 8, shall not be made to or on behalf of the Indemnitee if such indemnification is in connection with a Proceeding, other than a Proceeding by or in the right of the Company, charging that
the Indemnitee derived an improper personal benefit in which Proceeding the Indemnitee was adjudged liable on the basis that the Indemnitee derived an improper personal benefit. 

(b) Notwithstanding any provision in this Agreement, the Company is not obligated under this Agreement to make any indemnification
payments in connection with any claim made against Indemnitee: 
 (i) For which payment has actually been received by or on
behalf of Indemnitee under any insurance policy or other indemnity provision, except with respect to any excess beyond the amount actually received under any insurance policy, contract, agreement or other indemnity provision or otherwise; or

 (ii) Except as provided for in Sections 8 or 11(c) of this Agreement, in connection with any Proceeding
or any part of any Proceeding, initiated by Indemnitee, including those initiated against the Company or its officers, directors or employees, unless (i) the Board authorizes the Proceeding or part thereof before its initiation or (ii) the
Company provides the indemnification in its sole discretion, pursuant to the powers vested in the Company under applicable law. 

8. Advancement of Expenses. Notwithstanding any other provision of this Agreement and to the fullest extent permitted by
applicable law, the Company shall advance the Expenses incurred by Indemnitee in connection with any Proceeding to which Indemnitee was or is a party or is otherwise involved by reason of the fact that he is or was serving or acting in a Covered
Capacity, as soon as practicable but in any event not more than ten (10) days after receipt by the Company of a statement requesting the advances, whether the statement is submitted before or after final disposition of any Proceeding. Unless
otherwise required by law, the Company shall not require that Indemnitee provide any form of security for repayment of or charge any interest on any amounts advanced pursuant to this Section 8. The advances shall be made without regard
to Indemnitee’s ability to repay the Expenses and without regard to any belief or determination as to Indemnitee’s ultimate entitlement to be indemnified. Advances shall include any and all reasonable Expenses incurred in pursuing a
Proceeding to enforce the right of advancement, including Expenses incurred in preparing statements to the Company to support the advances claimed. Indemnitee qualifies for advances, to the fullest extent permitted by applicable law, solely upon the
execution and delivery to the Company of (i) a written affirmation of the Indemnitee’s good faith belief that the Indemnitee has met the standard of conduct described in Section 7-109-102 of the CBCA and (ii) a written
undertaking providing that Indemnitee undertakes to repay the advance to the extent it is ultimately determined that Indemnitee did not meet the standard of conduct described in Section 7-109-102 of the CBCA.

  
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This section does not apply to any claim made by Indemnitee for any indemnification payment that is excluded pursuant to Section 7(b) of this Agreement. 

9. Procedure For Notification and Application for Indemnification. Indemnitee agrees to notify the Company in writing promptly
after being served with any summons, citation, subpoena, complaint or threat of a complaint, indictment, inquiry, information request or other document relating to any Proceeding or matter which may be subject to indemnification, hold harmless or
exoneration rights or the advancement of expenses; provided, however, that the failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation it may have to Indemnitee under this Agreement or otherwise.
Indemnitee may deliver to the Company a written application to indemnify and hold harmless Indemnitee in accordance with this Agreement. The application may be delivered from time to time and may be amended and supplemented and at such times as
Indemnitee deems appropriate in his or her sole discretion. After a written application for indemnification is delivered by Indemnitee, Indemnitee’s entitlement to indemnification shall be determined pursuant to Sections 10, 11
and 12 of this Agreement. 
 10. Procedure Upon Application For Indemnification. 

(a) To the fullest extent permitted by law, the indemnification provided for in this Agreement shall be deemed mandatory. To the extent
that, under applicable law, any indemnification provided for in this Agreement is treated as discretionary, any indemnification determination, unless ordered by a court or advanced pursuant to Section 8 of this Agreement, may be made by
the Company only as authorized in the specific case upon a determination that the indemnification of Indemnitee is proper in the circumstances. Such determination must be made: 

(i) by the Board by a majority vote of those present at a meeting at which a quorum is present, and only those directors not parties to
the proceeding shall be counted in satisfying the quorum; 
 (ii) if a quorum cannot be obtained, by a majority vote of a
committee of the Board designated by the Board, which committee shall consist of two (2) or more directors not parties to the proceeding; except that directors who are parties to the proceeding may participate in the designation of directors
for the committee; or 
 (iii) if a quorum cannot be obtained as contemplated in Section 10(a)(i), and a committee
cannot be established under Section 10(a)(ii), or, even if a quorum is obtained or a committee is designated, if a majority of the directors constituting such quorum or such committee so directs, the determination may be made:

  

	 	(A)	By Independent Counsel selected by a vote of the Board or the committee in the manner specified in Section 10(a)(i) or (ii) or, if a quorum of
the full Board cannot be obtained and a committee cannot be established, by Independent Counsel selected by a majority vote of the full Board; or 

  

	 	(B)	By the Company’s shareholders. 

  
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 Notwithstanding the foregoing, if at any time during the two (2) year period prior to the date of any
written application for indemnification submitted by Indemnitee in connection with a particular Proceeding there shall have occurred a Change in Control, the Board shall direct (unless Indemnitee otherwise agrees in writing) that the indemnification
determination shall be made by Independent Counsel in a written opinion. Notwithstanding the foregoing, if the determination that indemnification or advance of Expenses is permissible is made by Independent Counsel then the Board shall authorize and
direct such indemnification and advancement of Expenses. 
 (b) If the determination of Indemnitee’s entitlement to
indemnification is to be made by Independent Counsel following a Change in Control, the Independent Counsel must be selected as provided in this Section 10(b). The Independent Counsel shall be selected by Indemnitee (which selection
shall be ratified by the Board). 
 (c) The Company agrees to pay the reasonable fees and Expenses of Independent Counsel in
accordance with Section 8 and to fully indemnify and hold the Independent Counsel harmless against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or the Independent Counsel’s
engagement. 
 (d) The Company must promptly advise Indemnitee in writing if a determination is made that Indemnitee is not
entitled to indemnification and must include a description of the reasons or basis for denial. If it is determined Indemnitee is entitled to indemnification, the payment to Indemnitee must be made as soon as practicable but in no event more than ten
(10) days after the determination. Indemnitee must reasonably cooperate with the persons making the determination and, upon request, must provide such persons with documents and information (which are not privileged or otherwise protected)
reasonably available to Indemnitee and reasonably necessary to the determination. All Expenses incurred by Indemnitee in cooperating with the persons making the determination shall be paid by the Company (irrespective of the determination as to
indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless from those Expenses. 
 11.
Presumptions and Effect of Certain Proceedings. 
 (a) In determining whether Indemnitee is entitled to indemnification
under this Agreement, the person or persons making the determination must presume that Indemnitee is entitled to indemnification under this Agreement and the Company has the burden of proof to overcome that presumption. Moreover, if at any time
during the two (2) year period prior to the date of any written application for indemnification submitted by Indemnitee in connection with a particular Proceeding or other matter there shall have occurred a Change in Control, the foregoing
presumption may only be overcome by clear and convincing evidence. Neither of the following is a defense to an action seeking a determination granting indemnity to Indemnitee or creates a presumption that Indemnitee has not met the applicable
standard of conduct: (i) the failure of the Company (including its directors or Independent Counsel) to have made a determination before the beginning of an action seeking a ruling that indemnification is proper nor (ii) an actual
determination by the Company (including its directors or Independent Counsel) that Indemnitee has not met the applicable standard of conduct. 

  
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 (b) If the persons or entity selected under Section 10 of this Agreement to
determine whether Indemnitee is entitled to indemnification has not made a determination within thirty (30) days after receipt by the Company of the request for it, the requisite determination of entitlement to indemnification shall be deemed
to have been made and Indemnitee is entitled to such indemnification, absent (i) an intentional misstatement by Indemnitee of a material fact or an omission of material fact necessary to make his or her statements not materially misleading made
in connection with the request for indemnification (which misstatement or omission is shown by the Company to be of sufficient importance that it would likely alter the applicable determination) or (ii) a final judicial determination that
indemnification is expressly prohibited under applicable law. The thirty (30) day period may be extended for a reasonable time, not to exceed fifteen (15) additional days, if the persons or entity making the determination requires the
additional time for obtaining or evaluating documents or information. 
 (c) The termination of any Proceeding or any claim
therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere does not (except as expressly provided elsewhere in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a
presumption that Indemnitee did not meet any particular standard of conduct, did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe his or her conduct was unlawful. 
 (d) In determining good faith,
Indemnitee must be deemed to have acted in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company if Indemnitee’s action is based on the records or books of account of the Company,
including financial statements, or on information, opinions, reports or statements supplied to Indemnitee by the directors or officers of the Company or other enterprise in the course of their duties, or on the advice of legal counsel for the
Company or the enterprise or on information or records given or reports made by an independent certified public accountant or by an appraiser or other expert. 
 (e) The knowledge and actions or failures to act of any other director, officer, trustee, partner, member, fiduciary, agent or employee of the Company or other enterprise shall not be imputed to
Indemnitee for the purposes of determining his or her right to indemnification. 
 12. Remedies of Indemnitee.

 (a) If a determination is made that Indemnitee is not entitled to indemnification under this Agreement, any judicial
Proceeding or arbitration begun pursuant to this Agreement must be conducted in all respects as a de novo trial or arbitration, on the merits, and Indemnitee shall not be prejudiced by reason of the adverse determination. In such a Proceeding or
arbitration, Indemnitee is presumed to be entitled to indemnification and the Company has the burden of proving Indemnitee is not entitled to be indemnified. Moreover, if at 

  
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any time during the two (2) year period prior to the date of any written application for indemnification submitted by Indemnitee in connection with a particular Proceeding or other matter
there shall have occurred a Change in Control, the Company will be deemed to have satisfied such burden only if it meets the standard of proof by clear and convincing evidence. The Company may not refer to or introduce into evidence any
determination made pursuant to Section 10(a) of this Agreement adverse to Indemnitee for any purpose. If Indemnitee begins a judicial Proceeding or arbitration seeking indemnification, Indemnitee is not required to reimburse the Company
for any advances pursuant to Section 8 of this Agreement until a final determination is made with respect to Indemnitee’s right to indemnification, after all rights of appeal have been exhausted or lapsed. 

(b) If it has been determined that Indemnitee is entitled to indemnification, the Company is bound by that determination in any judicial
Proceeding or arbitration commenced by Indemnitee seeking to compel the indemnification, absent (i) an intentional misstatement by Indemnitee of a material fact or an omission of a material fact necessary to make Indemnitee’s statement not
materially misleading connected with the request for indemnification (which misstatement or omission is shown by the Company to be of sufficient importance that it would likely alter the applicable determination) or (ii) a prohibition of the
indemnification under applicable law. In any Proceeding or arbitration commenced by Indemnitee seeking indemnification, the Company is precluded from asserting that the procedures and presumptions of this Agreement are not valid, binding and
enforceable and must stipulate that the Company is bound by all the provisions of this Agreement. 
 13. Contribution; Joint
Liability. To the fullest extent permissible under applicable law, if the indemnification rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever (other than by reason of the language of
any express exclusion contained in this Agreement), the Company, instead of indemnifying and holding harmless Indemnitee, must contribute to the payment thereof, in the first instance, by paying the entire amount incurred by Indemnitee, whether for
judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to the payment, and the Company hereby waives and relinquishes any
right of contribution it may have at any time against Indemnitee. The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee, or would be joined in the Proceeding, unless the settlement
provides for a full and final release of all claims asserted against Indemnitee. The Company hereby agrees to fully indemnify and hold harmless Indemnitee from any claims for contribution which may be brought by officers, directors or employees of
the Company other than Indemnitee who may be jointly liable with Indemnitee. 
 14. Subrogation. If any payment is made
under this Agreement, the Company is subrogated to the extent of such payment to all the rights of recovery of Indemnitee, who must within a reasonable period of time after payment execute all papers required and take all action necessary to secure
those rights, including the execution of such documents as are necessary to enable the Company to bring suit to enforce those rights. 

  
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 15. Severability. If any provision or provisions of this Agreement shall be held to
be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, but not limited to, each portion of any paragraph containing any such
provision held to be invalid, illegal or unenforceable, that is not itself held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this
Agreement (including, but not limited to, each such portion of any paragraph containing any such provision held to be invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid,
illegal or unenforceable. 
 16. Non-Exclusivity of Rights; Amendment. The rights of Indemnitee under this Agreement are
not exclusive of any other rights to which Indemnitee may at any time be entitled under the law, the CBCA, the Articles of Incorporation, the Bylaws or any agreement. The indemnification and advancement of Expenses for Indemnitee who has ceased to
be a director, officer, employee or agent shall continue in full force and effect and shall inure to the benefit of the heirs, executors and administrators of Indemnitee. The rights of Indemnitee under this Agreement shall be contract rights. No
amendment, alteration or repeal of this Agreement can limit or restrict any right of Indemnitee under this Agreement with respect to any action taken before the amendment, alteration or repeal. If a change in applicable law permits greater
indemnification than that which would be afforded under this Agreement, it is the intent of the Company that Indemnitee shall enjoy by this Section 16 the greater benefits so afforded. Except as provided in this Section 16
with respect to changes in applicable law which broaden the right of Indemnitee to be indemnified by the Company, no supplement, modification or amendment of this Agreement shall be binding unless executed in writing by each of the parties hereto.

 17. Acknowledgment of Certain Matters. Both the Company and Indemnitee acknowledge that in certain instances,
applicable law or public policy may prohibit indemnification of Indemnitee by the Company under this Agreement or otherwise. Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake, by
the Securities and Exchange Commission, to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s right under public policy to indemnify Indemnitee. 

18. Waivers. The observance of any term of this Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively) by the party entitled to enforce such term only by a writing signed by the party against which such waiver is to be asserted. Unless otherwise expressly provided herein, no delay on the part of any party hereto in
exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party hereto of any right, power or privilege hereunder operate as a waiver of any other right, power or privilege
hereunder nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder. 

19. Entire Agreement. This Agreement and the documents referred to herein constitute the entire agreement between the parties
hereto with respect to the matters covered hereby, and any other prior or contemporaneous oral or written understandings or agreements with respect to the matters covered hereby are superseded by this Agreement. 

  
 10 

 20. Certain Rights. The right to be indemnified or to the advancement or
reimbursement of Expenses (i) is intended to be retroactive and shall be available as to events occurring prior to the date of this Agreement and (ii) shall continue after any rescission or restrictive modification of such provisions as to
events occurring prior thereto. Nothing in this Agreement, expressed or implied, is intended to confer any rights or remedies under or by reason of this Agreement on any person other than the parties to this Agreement and their respective heirs,
personal representatives, successors and assigns. 
 21. Governing Law; Venue. This Agreement shall be construed in
accordance with and governed by the laws of the State of Colorado without regard to any principles of conflict of laws that, if applied, might permit or require the application of the laws of a different jurisdiction. The parties hereby agree that
any dispute that may arise between them arising out of or in connection with this Agreement shall be adjudicated before a court located in the City and County of Denver, Colorado and they hereby submit to the exclusive jurisdiction of the courts of
the State of Colorado located in Denver, Colorado, and of the federal courts having jurisdiction in such district with respect to any action or legal proceeding commenced by either party, and irrevocably waive any objection they now or hereafter may
have respecting the venue of any such action or proceeding brought in such a court or respecting the fact that such court is an inconvenient forum, relating to or arising out of this Agreement. 

22. Headings. The Section headings in and referred to in this Agreement are for convenience of reference only, and shall not be
deemed to alter or affect the meaning or interpretation of any provisions hereof. 
 23. Counterparts. This Agreement may
be executed in counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. 
 24. Use of Certain Terms. As used in this Agreement, the words “herein,” “hereof,” and “hereunder” and other words of similar import refer to this Agreement as a whole
and not to any particular paragraph, subparagraph, section, subsection, or other subdivision. Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular
form of nouns, pronouns and verbs shall include the plural and vice versa. 
 [Signature Page Follows] 

  
 11 

 IN WITNESS WHEREOF, this Agreement has been duly executed as of the date first above
written. 
  

			
	GEORESOURCES, INC.
		
	By:	 	
		 	  

	Name:	 	Frank A. Lodzinski
	Title:	 	President and Chief Executive Officer
	
	INDEMNITEE
		
	By:	 	
		 	  

	Name:	 	

 [Signature Page to Indemnification Agreement]

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