Document:

Second Amendment to Combined Credit Agreements

 Exhibit 10.17 
  
 SECOND AMENDMENT TO COMBINED CREDIT AGREEMENTS 
  
 THIS SECOND AMENDMENT TO COMBINED CREDIT AGREEMENTS, dated as of January 11, 2005 (this “Amendment”), among
QUICKSILVER RESOURCES INC., a Delaware corporation (the “U.S. Borrower”), MGV ENERGY INC., an Alberta, Canada corporation (the “Canadian Borrower”), each of the lenders that is a signatory to, or which becomes a
signatory to, the U.S. Credit Agreement (together with its successors and assigns, the “U.S. Lenders”), each of the lenders that is a signatory to, or which becomes a signatory to, the Canadian Credit Agreement (together with its
successors and assigns, the “Canadian Lenders”, and together with the U.S. Lenders, the “Combined Lenders”), JPMORGAN CHASE BANK, N.A. (successor by merger to Bank One, N.A.), as Global Administrative Agent (in such
capacity, together with its successors in such capacity, the “Global Administrative Agent”), JPMORGAN CHASE BANK, N.A., TORONTO BRANCH (successor by merger to Bank One, N.A., Canada Branch), as Canadian Administrative Agent (in such
capacity, together with its successors in such capacity, the “Canadian Administrative Agent”), BNP PARIBAS and BANK OF AMERICA, N.A., as Co-Global Syndication Agents, and FORTIS CAPITAL CORP. and THE BANK OF NOVA SCOTIA, as
Co-Global Documentation Agents. 
  
 W I T
N E S S E T H: 
  
 1. The U.S. Borrower, the Global Administrative Agent, the Co-Global Syndication Agents, the Co-Global Documentation Agents, and the U.S. Lenders are parties to that certain Credit Agreement dated as of July 28, 2004, as amended by that
certain First Amendment to Combined Credit Agreements dated as of September 21, 2004 ( as amended, the “U.S. Credit Agreement”), pursuant to which the U.S. Lenders agreed to make loans to and extensions of credit on behalf of the
U.S. Borrower. 
  
 2. The Canadian Borrower, the Global
Administrative Agent, the Canadian Administrative Agent, the Co-Global Syndication Agents, the Co-Global Documentation Agents, and the Canadian Lenders are parties to that certain Credit Agreement dated as of July 28, 2004, as amended by that
certain First Amendment to Combined Credit Agreements dated as of September 21, 2004 ( as amended, the “Canadian Credit Agreement”, and together with the U.S. Credit Agreement, the “Combined Credit Agreements”),
pursuant to which the Canadian Lenders agreed to make loans to and extensions of credit on behalf of the Canadian Borrower. 
  
 3. The parties to the Combined Credit Agreements intend to amend the Combined Credit Agreements as follows: 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants
herein contained, the parties hereto agree as follows: 
  
 I.
Amendments to U.S. Credit Agreement. 
  
 A.
Subsection (n) of the definition of “Permitted Investments” contained in Section 1.1 of the U.S. Credit Agreement hereby is amended by deleting the reference to “U.S.$10,000,000” and replacing such reference
with “U.S.$20,000,000”. 

 B. Subsection (p) of the definition of “Permitted Investments” contained in
Section 1.1 of the U.S. Credit Agreement hereby is amended by deleting the reference to “U.S.$10,000,000” and replacing such reference with “U.S.$20,000,000”. 
  
 C. Section 2.7(d)(ii) of the U.S. Credit Agreement hereby is amended by deleting the phrase “; provided,
however, that at no time prior to the first scheduled redetermination of the Global Borrowing Base following the Global Effective Date shall the Allocated Canadian Borrowing Base exceed U.S.$150,000,000”. 
  
 D. Section 2.7(d)(iv) of the U.S. Credit Agreement hereby is amended
(i) by revising the first sentence thereof to read as follows: 
  
 “So long as no Default or Event of Default shall have occurred and be continuing, from time to time but in no event more than (i) four (4) times per Fiscal Year and (ii) once every thirty (30) days, upon at least five (5) Business Days
prior written notice to the Global Administrative Agent, the Borrower may reallocate the Global Borrowing Base between the Allocated U.S. Borrowing Base and the Allocated Canadian Borrowing Base (a “Discretionary Borrowing Base
Reallocation”).” 
  
 , and (ii) by deleting from the last sentence
thereof the reference to “ten (10) Business Days” and replacing such reference with “five (5) Business Days”. 
  
 II. Amendments to Canadian Credit Agreement. 
  
 A. Section 2.7(d)(ii) of the Canadian Credit Agreement hereby is amended by deleting the phrase “; provided, however, that at no
time prior to the first scheduled redetermination of the Global Borrowing Base following the Global Effective Date shall the Allocated Canadian Borrowing Base exceed U.S.$150,000,000”. 
  
 B. Section 2.7(d)(iv) of the Canadian Credit Agreement hereby is
amended (i) by revising the first sentence thereof to read as follows: 
  
 “So long as no Default or Event of Default shall have occurred and be continuing, from time to time but in no event more than (i) four (4) times per Fiscal Year and (ii) once every thirty (30) days, upon at least five (5) Business Days
prior written notice to the Global Administrative Agent, the Borrower may reallocate the Global Borrowing Base between the Allocated U.S. Borrowing Base and the Allocated Canadian Borrowing Base (a “Discretionary Borrowing Base
Reallocation”).” 
  
 , and (ii) by deleting from the last sentence
thereof the reference to “ten (10) Business Days” and replacing such reference with “five (5) Business Days”. 
  

 2 

 III. Effectiveness. This Amendment shall become effective as of the date (the
“Effective Date”) when the Global Administrative Agent shall have received: 
  

	 	A.	Counterparts hereof duly executed by the U.S. Borrower, the Canadian Borrower, the Global Administrative Agent, the Canadian Administrative Agent and the Combined Lenders (or, in
the case of any party as to which an executed counterpart shall not have been received, telegraphic, telex, or other written confirmation from such party of execution of a counterpart hereof by such party); and 

  

	 	B.	An amendment fee for the account of each Combined Lender in the manner and amount agreed upon between U.S. Borrower and the Global Administrative Agent in that certain fee letter
dated December 30, 2004 and (ii) such other fees otherwise agreed to in writing by the U.S. Borrower. 

  
 IV. Reaffirmation of Representations and Warranties. To induce the Combined Lenders and the Global Administrative Agent to enter into this
Amendment, the U.S. Borrower and the Canadian Borrower hereby reaffirm, as of the date hereof, the following: 
  
 (i) The representations and warranties of each Loan Party (as such term is defined in the U.S. Credit Agreement and the Canadian Credit
Agreement, collectively, the “Combined Loan Parties”) set forth in the Combined Loan Documents to which it is a party are true and correct on and as of the date hereof (or, if stated to have been made expressly as of an earlier date, were
true and correct in all material respects as of such date). 
  
 (ii) Each of the Combined Loan Parties (a) is a corporation, partnership or limited liability company duly incorporated or organized (as applicable), validly existing and in good standing under the laws of its
jurisdiction of incorporation or organization, (b) has all corporate, partnership or limited liability company power (as applicable) and all material governmental licenses, authorizations, consents and approvals required to carry on its businesses
as now conducted and as proposed to be conducted, and (c) is duly qualified to transact business as a foreign corporation, partnership or limited liability company in each jurisdiction where a failure to be so qualified would reasonably be expected
to have a Material Adverse Effect. 
  
 (iii) The
execution, delivery and performance of this Amendment and the other Combined Loan Documents by each Combined Loan Party (to the extent each Loan Party is a party to this Agreement and such Loan Documents) (a) are within such Loan Party’s
corporate, partnership or limited liability company powers, (b) when executed will be duly authorized by all necessary corporate, partnership or limited liability company action, (c) require no action by or in respect of, or filing with, any
Governmental Authority (other than (i) actions or filings pursuant to the Exchange Act and (ii) actions or filings that have been taken or made and are in full force and effect) and (d) do not contravene, or constitute a default under, any provision
of applicable Governmental Rule (including, without limitation, Regulation U) or of the articles or certificate of incorporation, bylaws, regulations, partnership agreement or comparable charter documents of any Combined Loan Party or of any
agreement, judgment, injunction, order, decree or other instrument binding upon any Combined Loan Party or result in the creation or imposition of any Lien on any Borrowing Base Property or Collateral other than the Liens securing the Combined
Obligations. 
  
  

 3 

 (iv) This Amendment and each other Combined Loan Document constitutes, or when executed
and delivered will constitute, valid and binding obligations of each Combined Loan Party which is a party thereto, enforceable against each such Combined Loan Party which executes the same in accordance with its terms except as the enforceability
thereof may be limited by (i) bankruptcy, insolvency, reorganization, moratorium, or similar Governmental Rules affecting creditors’ rights generally, and (ii) equitable principles of general applicability (whether enforcement is sought by
proceedings at law or in equity). 
  
 (v) Neither
a Default nor an Event of Default has occurred or will exist under either Combined Credit Agreement after giving effect to the transactions contemplated by this Amendment or the other Combined Loan Documents. Neither the U.S. Borrower or any of its
Subsidiaries nor the Canadian Borrower or any of its Subsidiaries is in default under, nor has any event or circumstance occurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would constitute a
default under, any Material Agreement to which the U.S. Borrower or any of its Subsidiaries or the Canadian Borrower or any of its Subsidiaries is a party or by which the U.S. Borrower or any of its Subsidiaries or the Canadian Borrower or any of
its Subsidiaries is bound which default would reasonably be expected to have a Material Adverse Effect. The U.S. Borrower is in compliance with the financial covenants set forth in Article VI of the U.S. Credit Agreement. 
  
 (vi) No event or events have occurred since December 31,
2003 which individually or in the aggregate would reasonably be expected to have a Material Adverse Effect. 
  
 V. Defined Terms. Except as amended hereby, terms used herein when defined in the U.S. Credit Agreement shall have the same meanings herein
unless the context otherwise requires. 
  
 VI. Reaffirmation
of Combined Credit Agreements. This Amendment shall be deemed to be an amendment to the Combined Credit Agreements, and the Combined Credit Agreements, as amended hereby, are hereby ratified, approved and confirmed in each and every respect.
All references to the Combined Credit Agreements herein and in any other document, instrument, agreement or writing shall hereafter be deemed to refer to the Combined Credit Agreements as amended hereby. 
  
 VII. Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF TEXAS. 
  
 NOTWITHSTANDING
THE FOREGOING SENTENCE AND AFTER GIVING EFFECT TO THE TEXTUAL AMENDMENTS CONTAINED IN SECTIONS I AND II OF THIS AMENDMENT, (i) THE U.S. CREDIT AGREEMENT (AS AMENDED HEREBY) SHALL CONTINUE TO BE GOVERNED BY, AND CONSTRUED IN 
  

 4 

 ACCORDANCE WITH, THE LAW SPECIFIED IN SECTION 10.9(a) OF THE U.S. CREDIT AGREEMENT, AND (ii) THE CANADIAN CREDIT
AGREEMENT (AS AMENDED HEREBY) SHALL CONTINUE TO BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW SPECIFIED IN SECTION 10.9(a) OF THE CANADIAN CREDIT AGREEMENT. 
  
 VIII. Severability of Provisions. Any provision of this Amendment held to be invalid, illegal or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of
a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
  
 IX. Counterparts. This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Amendment by telecopy shall be effective as delivery of a manually executed
counterpart of this Amendment. 
  
 X. Headings.
Article and Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment. 
  
 XI. Successors and Assigns. This Amendment shall be binding
upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby (including any Affiliate of an Issuing Bank that issues any Letter of Credit), except that neither the U.S. Borrower nor the Canadian
Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Global Administrative Agent, each Issuing Bank and each Combined Lender (and any attempted assignment or transfer by
either the U.S. Borrower or the Canadian Borrower without such consent shall be null and void). 
  
 XII. No Oral Agreements. THIS AMENDMENT, THE COMBINED CREDIT AGREEMENTS, AS AMENDED HEREBY, AND THE OTHER COMBINED LOAN DOCUMENTS REPRESENT THE
FINAL AGREEMENT BETWEEN THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG
THE PARTIES. 
  
 [SIGNATURES BEGIN ON FOLLOWING PAGE]

  
  

 5 

 IN WITNESS WHEREOF, the U.S. Borrower, the Canadian Borrower, the undersigned Combined Lenders, the
Global Administrative Agent, and the other “agents” under the Combined Credit Agreements have executed this Amendment as of the date first above written. 
  

			
	U.S. BORROWER
	
	QUICKSILVER RESOURCES INC.
		
	By:	 	 /s/ MarLu Hiller

	Name:	 	MarLu Hiller
	Title:	 	Treasurer
	
	CANADIAN BORROWER
	
	MGV ENERGY INC.
		
	By:	 	 /s/ MarLu Hiller

	Name:	 	MarLu Hiller
	Title:	 	Treasurer

  

 S-1 

			
	AGENTS AND COMBINED LENDERS
	
	JPMORGAN CHASE BANK, N.A. (successor by merger to Bank One, N.A.), as Global Administrative Agent and as a U.S. Lender
		
	By:	 	 /s/ J. Scott Fowler

	Name:	 	J. Scott Fowler
	Title:	 	Vice President

  

 S-2 

			
	BNP PARIBAS, as a Co-Global Syndication Agent and as a U.S. Lender
		
	By:	 	 /s/ Brian M. Malone

	Name:	 	Brian M. Malone
	Title:	 	Managing Director
		
	By:	 	 /s/ Betsy Jocher

	Name:	 	Betsy Jocher
	Title:	 	Vice President

  

 S-3 

			
	BANK OF AMERICA, N.A., as a Co-Global Syndication Agent and as a U.S. Lender
		
	By:	 	 /s/ Ronald E. McKaig

	Name:	 	Ronald E. McKaig
	Title:	 	Senior Vice President

  

 S-4 

			
	FORTIS CAPITAL CORP., as the Co-Global Documentation Agent and as a U.S. Lender
		
	By:	 	 /s/ Christopher S. Parada

	Name:	 	Christopher S. Parada
	Title:	 	Vice President
		
	By:	 	 /s/ Darrell Holley

	Name:	 	Darrell Holley
	Title:	 	Managing Director

  

 S-5 

			
	THE BANK OF NOVA SCOTIA, as a Co-Global Documentation Agent and as a U.S. Lender
		
	By:	 	 /s/ N. Bell

	Name:	 	N. Bell
	Title:	 	Senior Manager

  

 S-6 

			
	COMERICA BANK, as a U.S. Lender
		
	By:	 	 /s/ Michele L. Jones

	Name:	 	Michele L. Jones
	Title:	 	 Senior Vice President -
 Texas
Division

  

 S-7 

			
	THE ROYAL BANK OF SCOTLAND PLC, as a U.S. Lender
		
	By:	 	 /s/ Charles Zabriskie

	Name:	 	Charles Zabriskie
	Title:	 	Managing Director

  

 S-8 

			
	CALYON NEW YORK BRANCH, as a U.S.
Lender
		
	By:	 	 /s/ Philippe Soustra

	Name:	 	Phillippe Soustra
	Title:	 	Executive Vice President
		
	By:	 	 /s/ Pierre Debray

	Name:	 	Pierre Debray
	Title:	 	Managing Director

  

 S-9 

			
	CIBC INC., as a U.S. Lender
		
	By:	 	 /s/ John P. Burke

	Name:	 	John P. Burke
	Title:	 	Executive Director
	 	 	CIBC World Markets Corp., as Agent

  

 S-10 

			
	COMPASS BANK, as a U.S. Lender
		
	By:	 	 /s/ Murray E. Brasseux

	Name:	 	Murray E. Brasseux
	Title:	 	Senior Vice President

  

 S-11 

			
	STERLING BANK, as a U.S. Lender
		
	By:	 	 /s/ Melissa Bauman

	Name:	 	Melissa Bauman
	Title:	 	Senior Vice President

  

 S-12 

			
	TORONTO DOMINION (TEXAS) LLC (as successor in interest to Toronto Dominion (Texas), Inc.), as a U.S. Lender
		
	By:	 	 /s/ Neva Nesbitt

	Name:	 	Neva Nesbitt
	Title:	 	Authorized Agent

  

 S-13 

			
	HARRIS NESBITT FINANCING, INC., as a U.S. Lender
		
	By:	 	 /s/ James V. Ducote

	Name:	 	James V. Ducote
	Title:	 	Vice President

  

 S-14 

			
	SOCIETE GENERALE, as a U.S. Lender
		
	By:	 	 /s/ Stephen W. Warfel

	Name:	 	Stephen W. Warfel
	Title:	 	Vice President

  

 S-15 

			
	JPMORGAN CHASE BANK, N.A., TORONTO BRANCH, (successor by merger to Bank One, N.A., Canada Branch), as Canadian Administrative Agent and as a Canadian Lender
		
	By:	 	 /s/ J. Scott Fowler

	Name:	 	J. Scott Fowler
	Title:	 	Vice President

  

 S-16 

			
	BNP PARIBAS (CANADA), as a Canadian Lender
		
	By:	 	 /s/ Michael Gosselin

	Name:	 	Michael Gosselin
	Title:	 	Managing Director
		
	By:	 	 /s/ Edward Pak

	Name:	 	Edward Pak
	Title:	 	Assistant Vice President

  

 S-17 

			
	BANK OF AMERICA, N.A. (by its Canada branch), as a Canadian Lender
		
	By:	 	 /s/ Medina Sales De Andrade

	Name:	 	Medina Sales De Andrade
	Title:	 	Assistant Vice President

  

 S-18 

			
	THE BANK OF NOVA SCOTIA, as a Canadian Lender
		
	By:	 	 /s/ Brian Williamson

	Name:	 	Brian Williamson
	Title:	 	Director

  

 S-19 

			
	COMERICA BANK, CANADA BRANCH, as a Canadian Lender
		
	By:	 	 /s/ Robert C. Roseri

	Name:	 	Robert C. Roseri
	Title:	 	Vice President

  

 S-20 

			
	CANADIAN IMPERIAL BANK OF COMMERCE, as a Canadian Lender
		
	By:	 	 /s/ John P. Burke

	Name:	 	John P. Burke
	Title:	 	Executive Director
	 	 	CIBC World Markets Corp., As Agent

  

 S-21 

			
	TORONTO DOMINION BANK, as a Canadian Lender
		
	By:	 	 /s/ Parin Kanji

	Name:	 	Parin Kanji
	Title:	 	Assistant Manager
	 	 	Corporate Credit Compliance

  

 S-22 

			
	BANK OF MONTREAL, as a Canadian Lender
		
	By:	 	 /s/ James V. Ducote

	Name:	 	James V. Ducote
	Title:	 	Director

  

 S-23 

			
	SOCIETE GENERALE (CANADA), as a Canadian Lender
		
	By:	 	 /s/ Cynthia Hansen

	Name:	 	Cynthia Hansen
	Title:	 	Managing Director
	 	 	Head of Corporate Credit Group
		
	By:	 	 /s/ Francois Laliberte

	Name:	 	Francois Laliberte
	Title:	 	Deputy Head of Corporate Credit Group

  

 S-24Letter Agreement

 EXHIBIT 10.51 
  
 

 
  
 April 6, 2004 
  
 VIA HAND DELIVERY 
  
 Ms. Karin Eastham 
 Diversa Corporation 
 4955 Directors Place 
 San Diego, CA 92121-1609 
  
 Dear Karin:

  
 This letter sets forth the substance of the agreement (the
“Agreement”) between you and Diversa Corporation (the “Company”), offered to you by the Company in connection with your resignation of employment. 
  
 1. Resignation. Your employment with the Company will terminate as a result of your resignation effective May
14, 2004 (the “Resignation Date”). 
  
 2.
Closing Benefits. In consideration of your loyal and dedicated service and the release of claims contained in this Agreement, the Company will provide you with the following benefits on the Effective Date (as defined below) of this
Agreement: 
  
 a. Consulting Position. On the later
of the Resignation Date or the Effective Date of this Agreement, the Company will pay you as a consulting fee, a lump sum payment equal to six (6) months of your base salary in effect as of the Resignation Date, subject to standard payroll
deductions and withholdings. If at any time you breach any provision of this Agreement, the Company will be entitled to full recovery of any amounts already paid to you under this Section 2(a). In consideration of such payment, you agree to make
yourself reasonably available to the Company’s Chief Executive Officer (“CEO”) for consultation during the six (6) month period following the Resignation Date. Such period of consultation shall constitute (i) “Continuous Status
as an Employee, Director, or Consultant” under the Company’s 1997 Equity Incentive Plan (the “Plan”) and your Awards (as defined below) thereunder and (ii) “Continuous Service” under that certain Early Exercise Stock
Purchase Agreement under the Plan dated November 19, 1999. 
  
 b. COBRA Coverage. If you timely elect to continue your health insurance coverage under COBRA, the Company will reimburse you for the monthly premiums you pay on behalf of you and your family under COBRA until the earliest of
(i) the end of the six (6) month period following the Termination Date, (ii) the expiration of your 

 continuation coverage under COBRA or (iii) the date you become eligible for substantially equivalent
health insurance coverage in connection with new employment. 
  
 c. Letter of Reference. The Company’s CEO will provide you with a letter of reference. 
  
 3. Accrued Salary and Vacation. On the Resignation Date, you will be paid all accrued salary, and all accrued and unused vacation, earned
through the Resignation Date, subject to standard payroll deductions and withholdings. 
  
 4. Stock Options or Awards. All terms, conditions, and limitations applicable to your equity awards or options to purchase the Company’s Common Stock (“Awards”) under the Plan will remain
in full force and effect pursuant to the applicable Award agreements between you and the Company, the applicable Plan documents, and any other documents applicable to such Awards (including but not limited to the Note, as defined below). 

 
 5. Other Compensation or Benefits. You acknowledge that,
except as expressly provided in this Agreement, you will not receive any additional compensation, severance or benefits after the Resignation Date. Notwithstanding the foregoing, nothing in this Agreement shall be deemed to modify or amend that
certain Secured Promissory Note dated April 13, 2001 or that certain Additional Bonus Agreement dated April 13, 2001 (collectively the “Note”), which the Company and you acknowledge and agree remains in full force and effect. 

 
 6. Expense Reimbursement. You agree that, no later than May
17, 2004, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Resignation Date, if any, for which you seek reimbursement. The Company will reimburse you for these expenses
pursuant to its regular business practice. 
  
 7. Return
of Company Property. You agree that you will return to the Company all proprietary Company documents (and all copies thereof) and other Company property in your possession or control, including, but not limited to, Company files, correspondence,
memoranda, notes, notebooks, drawings, books and records, plans, forecasts, reports, proposals, studies, agreements, financial information, personnel information, sales and marketing information, research and development information, systems
information, specifications, computer-recorded information, tangible property and equipment, credit cards, entry cards, identification badges and keys and any materials of any kind that contain or embody any proprietary or confidential information
of the Company (and all reproductions thereof in whole or in part) (“Company Property”) no later than the Resignation Date. You also represent that you will perform a good faith search to ensure that you are not in possession or control of
any Company Property after that date. During your consulting service, the Company will allow you access to Company Property on an as needed basis. You agree to return any such Company Property provided to you on the termination of your consulting
service. 
  
 8. Proprietary Information
Obligations. You acknowledge that the Proprietary Information and Inventions Agreement executed by you will remain in full force and effect. 
  
 9. Confidentiality. Each of you and the Company agree to hold the terms of this Agreement in strictest confidence and agree not to publicize
or disclose the terms in any manner 
  

 2. 

 
whatsoever; provided, however, that: (a) you may disclose this Agreement in confidence to your immediate family, (b) the Company may disclose this
Agreement as required by any applicable law, regulation, listing standard or rule and (c) you and the Company may disclose this Agreement in confidence to their respective attorneys, accountants, auditors, and tax preparers. In particular, and
without limitation, you may not disclose the terms of this Agreement to any current or former Company employee or agent, other than to a Company employee authorized to negotiate the terms of this Agreement on behalf of the Company unless previously
disclosed by the Company as permitted under this Section 9. 
  
 10. Nondisparagement. You and the Company agree that neither party nor any of its attorneys or, in the case of the Company, any of its officers, directors, or employees, will at any time disparage the other party or any of its
attorneys or, in the case of the Company, any of its officers, directors, or employees, in any manner likely to be harmful to them or their business, business reputation or personal reputation; provided that each party may respond accurately
and fully to any questions, inquiry or request for information when required by legal process. 
  
 11. Release. In exchange for the consideration provided to you by this Agreement that you are not otherwise entitled to receive, you hereby generally and completely release the Company and its directors,
officers, employees, shareholders, members, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that
arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to your signing this Agreement. This general release includes, but is not limited to: (1) all claims arising out of or in any way related to your
employment with the Company or the termination of that employment; (2) all claims related to your compensation or benefits from the Company, including, but not limited to, salary, bonuses, commissions, vacation pay, expense reimbursements, severance
pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims,
including, but not limited to, claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (5) all federal, state, and local statutory claims, including, but not limited to, claims for discrimination,
harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the California Fair Employment and Housing Act (as amended) and the
federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”). 
  
 12. ADEA Waiver. You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA (“ADEA Waiver”). You also acknowledge that the consideration
given for the ADEA Waiver is in addition to anything of value to which you were already entitled. You further acknowledge that you have been advised by this writing, as required by the ADEA, that: (a) your ADEA Waiver does not apply to any rights or
claims that arise after the date you sign this Agreement; (b) you should consult with an attorney prior to signing this Agreement; (c) you have twenty-one (21) days to consider this Agreement (although you may choose to voluntarily sign it sooner);
(d) you have seven (7) days following the date you sign this Agreement to revoke the ADEA Waiver; and (e) the ADEA Waiver will not be effective until the date upon which the revocation period has expired unexercised, which will be the eighth day
after you sign this Agreement (“Effective Date”). 
  

 3. 

 13. Section 1542 Waiver. In granting the release herein, you hereby acknowledge that you
have read and understand Section 1542 of the California Civil Code: “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him
must have materially affected his settlement with the debtor.” You hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to your release of claims
hereby. 
  
 14. Arbitration. To ensure rapid and
economical resolution of any disputes which may arise under this Agreement, you and the Company agree that any and all disputes or controversies of any nature whatsoever (with the sole exception of disputes involving enforcement of the Proprietary
Information and Inventions Agreement), arising from or regarding the interpretation, performance, enforcement or breach of this Agreement shall be resolved by confidential, final and binding arbitration (rather than trial by jury or court or
resolution in some other forum) conducted by Judicial Arbitration and Mediation Services, Inc. (“JAMS”) in San Diego, California, under the then-existing JAMS rules. The prevailing party in such arbitration proceedings shall be entitled to
recover from the other party reasonable attorneys’ fees and other recoverable costs incurred in connection with such arbitration proceeding. Nothing in this Agreement shall prevent either party from seeking to obtain injunctive relief in court
to preserve the status quo or prevent irreparable harm pending the conclusion of any such arbitration. Notwithstanding the foregoing, you and the Company each have the right to resolve any issue or dispute involving confidential, proprietary or
trade secret information, or intellectual property rights, by Court action instead of arbitration. 
  
 15. Company Obligations. The Company agrees that between the date of this Agreement and the Resignation Date, the Company shall not reduce
your base salary in effect as of the date of this Agreement. In addition, the Company agrees to continue to pay your tax preparation costs for so long as the Note is outstanding. 
  
 16. Officer Protections. Nothing in this Agreement, including without limitation the general release set forth in
Section 11 of this Agreement, shall be deemed to modify, amend or revoke the protections and rights to indemnification and contribution afforded to you under the Company’s certificate of incorporation, by-laws, director and officer insurance
policy and your Indemnification Agreement effective December 13, 1999, as the same may be amended from time to time. 
  
 17. Miscellaneous. This Agreement constitutes the complete, final and exclusive embodiment of the entire agreement between you and the
Company with regard to this subject matter. It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations.
This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company. This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and
inure to the benefit of both you and the Company, their heirs, successors and assigns. The failure to enforce any breach of this Agreement shall not be deemed to be a waiver of any other or subsequent breach. For purposes of construing this
Agreement, any ambiguities shall not be construed against either party as the drafter. If any provision of this Agreement is determined to be invalid 

  

 4. 

 
or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be
modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State
of California as applied to contracts made and to be performed entirely within California. This Agreement may be executed in counterparts or with facsimile signatures, which shall be deemed equivalent to originals. You agree that you will not
provide assistance, information or advice, either directly or through the use of any other person, to any person or entity in connection with bringing any employment claim or related action of any kind against the Company, nor shall you induce or
encourage any person or entity to do so. You and the Company agree that the foregoing sentence shall not prohibit you from testifying truthfully under subpoena or providing other assistance under compulsion of law. You further agree to provide
reasonable cooperation and complete information to the Company in the event of litigation or threatened litigation against the Company or its employees, agents, officers or directors. 
  
 * * * * 
  
 If this Agreement is acceptable to you, please sign below and return one original to me. 
  
 I wish you all the best in your future endeavors. 
  
 Sincerely, 
  
 Diversa Corporation 
  

			
	 
		
	By:	 	/S/ EDWARD T. SHONSEY
	 	 	 Edward T. Shonsey
 Executive Vice President, Internal Development

  
 AGREED
AND ACCEPTED: 
  

					
			
	/S/ KARIN EASTHAM	 	 	 	4/6/04
	Karin Eastham	 	 	 	Date

  

 5

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