Document:

Exhibit 10.2

                               SPLIT-OFF AGREEMENT

         This Split-Off Agreement (this "Agreement"), dated as of December 20,
2002, by and between Laid Back Enterprises, Inc., an Oklahoma corporation ("Laid
Back") LBE Transition, Inc., an Oklahoma corporation ("LBE") which as of the
date of this agreement is a wholly owned subsidiary of Laid Back and Max
Colclasure and Ronald Hurt, individual shareholders of Laid Back exchanging all
or a substantial portion of their shares of Laid Back for all the shares of LBE
("Distribution Shareholders").

                                    RECITALS

         Whereas, Laid Back desires to separate its several businesses comprised
of gift design and merchandising from gift inventory liquidations, both of which
have been continuously engaged in their respective businesses for substantially
more than five years, into independent companies; and

         Whereas, such separation will allow the separate companies to do
business with each other's competitors, allow management to focus on their
respective businesses and enhance access to financing by allowing banks and the
financial community to focus separately on the respective businesses; and

         Whereas, Laid Back intends to split-off through a Distribution to the
Distribution Shareholders all of the outstanding capital stock of LBE in
exchange for a substantial portion of the Distribution Shareholders' shares in
Laid Back, said Distribution Shareholders having continuously held their shares
in Laid Back for substantially more than five year, thereby terminating the
parent-subsidiary relationship that has existed between the two companies; and

         Whereas, such Distribution is intended to qualify as a split-off under
ss.368(d) of the Code; and

         Whereas, Laid Back, LBE and the Distribution Shareholders have
determined that it is necessary and desirable to set forth certain agreements
that will govern certain matters relating to the Distribution.

         Therefore, in consideration of the mutual agreements, provisions and
covenants contained in this agreement, the parties to it agree as follows:

                                    AGREEMENT

The parties, intending to be legally bound, agree as follows:

                                    ARTICLE I
                                   DEFINITIONS

         For purposes of this Agreement, the following terms have the meanings
specified or referred to in this Article I:

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Split-Off Agreement                                                 Page 1 of 13
Date: June 10, 2004

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         1.1  "Administrative Services Agreement" means the Administrative
Services Agreement dated the date of this agreement and entered into between
Laid Back and LBE.

         1.2  "Affiliate" means the term "affiliate" as defined in Regulation
12b-2 under the Exchange Act.

         1.3  "Ancillary Agreements" means the Tax Sharing Agreement, the
Administrative Services Agreement and any other agreement entered into between
the parties to this agreement on or prior to the Distribution Date, the terms of
which are to be effective after the Distribution Date.

         1.4  "Code" means the Internal Revenue Code of 1986, as amended.

         1.5  "Commission" means the Securities and Exchange Commission.

         1.6  "Distribution" means the distribution to the Distribution
Shareholders of the shares of LBE common stock owned by Laid Back on the
Distribution Date.

         1.7  "Distribution Date" means the close of business on the date
determined by the Laid Back Board as of which the Distribution shall be
effected.

         1.8  "ERISA" means the Employee Retirement Income Security Act of 1974,
as amended, or any successor legislation.

         1.9  "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

         1.10 "Form 10" means the registration statement on Form 10 filed by
Laid Back with the Commission to effect the registration of Laid Back's common
stock pursuant to the Exchange Act after the Distribution.

         1.11 "Information Statement" means the information statement to be sent
to the holders of Laid Back Stock in connection with the Distribution.

         1.12 "Insurance Proceeds" means those monies (i) received by an insured
from an insurance carrier, or (ii) paid by an insurance carrier on behalf of the
insured, in either case net of any applicable premium adjustments (including
reserves), retrospectively rated premium adjustments, deductibles, retentions,
or costs paid by such insured.

         1.13 "IRS" means the Internal Revenue Service.

         1.14 "Laid Back Board" means the board of directors of Laid Back.

         1.15 "Laid Back Stock" means the common stock of Laid Back.

         1.16 "LBE Common Stock" means the common stock of LBE.

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Split-Off Agreement                                                 Page 2 of 13
Date: June 10, 2004

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         1.17 "Liabilities" means any and all debts, losses, liabilities,
claims, damages, obligations, payments, costs and expenses, absolute or
contingent, mature or not mature, liquidated or unliquidated, accrued or
unaccrued, known or unknown, whenever arising (unless otherwise specified in
this agreement), including all attorney's fees, costs and expenses relating to
them, and including, without limitation, those debts, losses, liabilities,
claims, damages, obligations, payments, costs and expenses, arising under any
law, rule, regulation, action, threatened action, order or consent decree of any
governmental entity or any award of any arbitrator of any kind, and those
arising under any contract, commitment or undertaking.

         1.18 "OTC-BB" means the National Association of Securities Dealers Over
the Counter Bulletin Board quotation system.

         1.19 "Record Date" means the close of business on the date to be
determined by the Laid Back Board as the record date for the Distribution.

         1.20 "Tax Sharing Agreement" means the tax sharing agreement, dated the
date of this agreement, entered into between Laid Back and LBE.

                                   ARTICLE II
                                THE DISTRIBUTION

         2.01     The Distribution.

                  (a) Laid Back, LBE and the Distribution Shareholders agree
         that based upon an independent third party evaluation of the value of
         Laid Back, including LBE by The Hughes Group, the valuation of the
         respective companies is as follows:

                  Laid Back                          $   400,071        29%
                  LBE                                $   971,763        71
                                                     ===========       ====
                  Total                              $ 1,371,834       100%

         Further, the current shares issued and outstanding of Laid Back are as
         follows:

                  Colclasure                         2,947,289           64.72%
                  Hurt                                 292,218            6.42
                  Minority Shareholders              1,314,303           28.86
                                                     =========         =======
                  Total                              4,553,810         100.00%

         Based upon the expert opinion by the Hughes Group that a minority
         discount of 25% is appropriate to apply to the valuation for the
         interests held by the Shareholders of Laid Back who are not the
         Distribution Shareholders and who will retain their shares in Laid
         Back, the parties agree that the following shares of the Distribution
         Shareholders shall be exchanged for all of the LBE Common Stock shares
         used for the Distribution:

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Split-Off Agreement                                                 Page 3 of 13
Date: June 10, 2004

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                  Shareholder         Distribution Shares        Retained Shares
                  -----------         -------------------        ---------------
                  Minority Shares              -0-                  1,314,303
                  Colclasure               2,490,875                  456,414
                  Hurt                       292,218                    -0-

                  (b) On the Distribution Date, Laid Back will deliver to the
         Distribution Shareholders stock certificates, endorsed by Laid Back in
         blank, representing, in the aggregate, all of the issued and
         outstanding shares of LBE Common Stock in exchange for the delivery of
         the certificates representing the Distribution shares set forth in (a)
         above by the Distribution Shareholders, endorsed in blank. The shares
         of LBE Common Stock shall be reissued to the Distribution Shareholders
         in proportion to their respective Distribution shares in exchange for
         the delivery of their Laid Back shares. All of the shares of LBE so
         distributed shall be fully paid, nonassessable and free of preemptive
         rights.

         2.02     Cooperation Prior to the Distribution.

                  (a) Laid Back and LBE shall prepare, and Laid Back shall
         promptly mail to the holders of Laid Back stock as of the Record Date,
         the Information Statement, which shall set forth appropriate
         disclosures concerning LBE, the Distribution and other matters.

                  (b) Laid Back and LBE shall take all such action as may be
         necessary or appropriate under the securities or blue sky laws of
         states or other political subdivisions of the United States, in
         connection with the transactions contemplated by this agreement and the
         Ancillary Agreements.

                  (c) Laid Back with LBE's cooperation shall prepare and Laid
         Back shall file following the Distribution an application to authorize
         the Laid Back common stock for quotation on the OTC-BB.

         2.03 Conditions to Distribution. This agreement and the consummation of
each of the transactions provided for in this agreement shall be subject to
approval of the Laid Back Board and a majority vote of the Laid Back Stock in
favor of the Distribution. The Laid Back Board shall in its discretion establish
the Record Date and the Distribution Date and all appropriate procedures in
connection with the Distribution, but in no event shall the Distribution Date
occur prior to such time as all of the following have occurred: (i) the Laid
Back Board has formally approved the Distribution; (ii) the approval of the
proposed transaction by a majority of the Laid Back shareholders; and (iii) the
transactions contemplated by Article III shall have been consummated in all
material respects; provided that the satisfaction of such conditions shall not
create any obligation on the part of Laid Back or any other party to this
agreement to effect the Distribution or in any way limit Laid Back's power of
termination set forth in Section 6.08 or alter the consequences of any such
termination from those specified in such Section.

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Split-Off Agreement                                                 Page 4 of 13
Date: June 10, 2004

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         2.04     Certain Post-Distribution Transactions.

                  (a) LBE shall comply with each representation and statement
         made, or to be made, to any taxing authority in connection with any
         ruling obtained, or to be obtained, by Laid Back and/or LBE, from any
         taxing authority with respect to the transactions contemplated by this
         agreement.

                  (b) Laid Back shall from time to time after the Distribution
         Date, and without additional consideration, execute such deeds,
         assignments and other instruments of conveyance as may be necessary or
         advisable to transfer or confirm legal, record ownership of assets
         (both real and personal) used by LBE in its businesses to or in LBE.

                  (c) Laid Back and LBE may from time to time find it desirable
         to combine and/or coordinate the purchase of various types of insurance
         from third party insurers. Should Laid Back and LBE desire to combine
         and/or coordinate the purchase of insurance, it shall be done in such a
         way that is beneficial to both parties and would require each party to
         hold each other harmless from any and all Liabilities of whatever type
         that might arise out of the respective party's operations.

                  (d) Laid Back with LBE's cooperation shall also prepare, and
         Laid Back shall file with the Commission, the Form 10, which shall
         include such information as is necessary to cause the Form 10 to become
         effective under the Exchange Act as soon as practicable.

                                   ARTICLE III
                    TRANSACTIONS RELATING TO THE DISTRIBUTION

         3.01     Allocation of Liabilities between Laid Back and LBE.

                  (a) As of the Distribution Date, or as soon as possible after,
         LBE will become the obligor or guarantor, as applicable, of the
         Liabilities associated with the businesses being conducted by LBE and
         identified in Exhibit A to this agreement, replacing Laid Back in such
         capacity. LBE shall assume liability for all of the Liabilities
         identified in Exhibit A, and indemnifies Laid Back and holds Laid Back
         harmless from all Liabilities resulting from them pursuant to the
         provisions of Article IV.

                  (b) All intercompany account balances between Laid Back and
         LBE for transactions occurring prior to the Distribution Date shall be
         settled by a payment in cash on or shortly after the Distribution Date.

         3.02 Satisfaction of Any Claims Against Laid Back. LBE agrees that,
except as provided in the tax sharing agreement, the making of the
reconciliation and assumptions described in Section 3.01 by the parties shall be
in complete satisfaction of any claim which a party might otherwise have against
the other as parent or shareholder by reason of dividends or tax benefits paid
or made available between them at any time prior to the Distribution.

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Split-Off Agreement                                                 Page 5 of 13
Date: June 10, 2004

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         3.03     Ancillary Agreements. On or prior to the date of this
agreement, Laid Back and LBE shall execute and deliver each Ancillary Agreement
to which it is a party.

         3.04     Employee Benefit Plans.

                  (a) Prior to the date hereof, Laid Back established its 401(k)
         Plan to provide benefits to current, former and future employees (and
         their dependents and beneficiaries) of Laid Back and any Laid Back
         subsidiaries (collectively, the "Laid Back beneficiaries"), including
         to the current, former and future employees (and their dependents and
         beneficiaries) of LBE (collectively, the "LBE beneficiaries"). Laid
         Back will, prior to the Distribution Date, transfer to LBE and LBE
         shall assume responsibility for the 401(k) Plan, provided that LBE
         shall have no responsibility for benefits under such plan for Laid Back
         employees who do not become LBE employees on and after the Distribution
         Date.

                  (b) The Laid Back 401(k) Plan contains funds attributable to
         certain individuals who will become employees of LBE. On the date which
         follows by at least 30 days the filings of IRS Forms 5310 by the Laid
         Back 401(k) Plan, Laid Back shall cause the trust established under the
         Laid Back 401 (k) Plan (the "plan trust") to divide the assets of the
         Laid Back 401(k) Plan in the same ratio that the projected benefit
         obligation for LBE employees bears to the total projected benefits
         obligations for all participants in the Laid Back 401(k) Plan, and as
         so divided, to transfer such assets attributable to LBE employees to a
         401(k) plan to be established for LBE. Such assets shall consist of
         cash, stocks and bonds.

                  (c) LBE shall retain or assume, as the case may be, all
         obligations to all LBE beneficiaries under the 401(k) Plan
         participants, whether arising before or after the Distribution Date,
         and shall indemnify and hold Laid Back harmless against any and all
         such Liabilities. Expenses incurred in consummating the transactions
         and transfers described in this Section 3.04 shall be borne ratably by
         Laid Back and LBE, based upon the number of their respective employees.

                  (d) Laid Back and LBE shall, in connection with the
         transactions and transfers described in this Section 3.04 and at LBE's
         expense, cooperate in making any and all appropriate filings required
         under the Code or ERISA, and the regulations under them, and any
         applicable securities laws, and take all such action as may be
         necessary to cause such transactions and transfers to take place on or
         as soon as practicable after the Distribution Date.

                  (e) As of the Distribution Date, LBE shall assume or retain,
         as the case may be, sole responsibility for all Liabilities and
         obligations, if any, of Laid Back with respect to claims made by LBE
         employees relating to any employer liability or obligation not
         otherwise provided for in this agreement, as well as with respect to
         any employee benefit or payment to a LBE employee not otherwise
         provided for in this agreement. To the extent not otherwise provided in
         this agreement, Laid Back and LBE shall take such action as is
         necessary to effect an adjustment to the books of Laid Back and of LBE
         so that, as of the Distribution Date, the prepaid expense balances and
         accrued employee liabilities with respect to any employee liability or

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Split-Off Agreement                                                 Page 6 of 13
Date: June 10, 2004

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         obligation assumed or retained as of the Distribution Date by LBE is
         appropriately reflected on its respective balance sheets as of the
         Distribution Date. To the extent that Laid Back pay for any claim,
         expense, Liability or obligation in respect of a LBE employee not
         otherwise provided for in this agreement, LBE shall reimburse Laid Back
         as of the Distribution Date, to the extent not previously reimbursed.

         3.05 The LBE Board. LBE and Laid Back shall take all actions which may
be required to elect or otherwise appoint, on or prior to the Distribution Date,
the following persons as directors of LBE:
              Max Colclasure
              Ronald Hurt

         3.06 LBE Certificate and Bylaws. Prior to the Distribution Date, (a)
the board of directors of LBE shall (1) approve the Certificate of Incorporation
of LBE and all amendments to it, substantially in the form of Exhibit A to the
Information Statement, to be in effect at the Distribution Date and shall file
the same with the Secretary of State of the State of Oklahoma and (2) adopt the
bylaws of LBE substantially in the form of Exhibit B to the Information
Statement, to be in effect at the Distribution Date, and (b) Laid Back, as sole
shareholder of LBE, shall approve such Certificate of Incorporation and all
amendments to it.

         3.07 Laid Back Name Change. On the Distribution Date, Laid Back shall
amend its Certificate of Incorporation to change the name to Gift Liquidators,
Inc.

         3.08 Stock Transfer Agent. Laid Back currently acts as transfer agent
and registrar for the common stock of Laid Back. Effective as of the
Distribution Date, a new independent transafer agent will assume the
responsibility of acting as transfer agent and registrar for the common stock of
Laid Back (to be renamed Gift Liquidators, Inc. after the Distribution Date)
Laid Back shall comply with all applicable laws, rules and regulations with
regard to performing those functions. LBE shall assist Laid Back until such time
as the transfer agent has been appointed.

                                   ARTICLE IV
                                 INDEMNIFICATION

         4.01 Indemnification by Laid Back. Except as otherwise set forth in the
tax sharing agreement, Laid Back shall indemnify, defend and hold harmless LBE
and its respective directors, officers and employees and each of the heirs,
executors, administrators, personal representatives, successors and assigns of
any of the foregoing (the "LBE indemnitees") from and against any and all
Liabilities of the LBE indemnitees arising out of or due to the failure or
alleged failure of Laid Back or any of its Affiliates to pay, perform or
otherwise discharge in due course any item set forth in this Agreement.

         4.02 Indemnification by LBE. Except as otherwise set forth in the tax
sharing agreement, LBE shall indemnify, defend and hold harmless Laid Back and
its respective directors, officers and employees and each of the heirs,
executors, administrators, personal representatives, successors and assigns of
any of the foregoing (the "Laid Back indemnitees") from and against any and all

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Split-Off Agreement                                                 Page 7 of 13
Date: June 10, 2004

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Liabilities of the Laid Back indemnitees arising out of or due to the failure or
alleged failure of LBE or any of its Affiliates to pay, perform or otherwise
discharge in due course any item set forth in this Agreement.

         4.03 Limitations on Indemnification Obligations. The amount which any
party (an "indemnifying party") is or may be required to pay to any other party
(an "indemnitee") pursuant to Section 4.01 or Section 4.02 shall be reduced
(including, without limitation, retroactively) by any Insurance Proceeds or
other amounts actually recovered by or on behalf of such indemnitee and actual
cash reserves held by or for the benefit of such indemnitee, in reduction of the
related liability. If an indemnitee shall have received the payment required by
this agreement from an indemnifying party in respect of any liability and shall
subsequently actually receive Insurance Proceeds or other amounts in respect of
such liability, then such indemnitee shall pay to such indemnifying party a sum
equal to the amount of such Insurance Proceeds or other amounts actually
received (up to but not in excess of the amount of any indemnity payment made
under this Agreement). An insurer who would otherwise be obligated to pay any
claim shall not be relieved of the responsibility with respect to it, or, solely
by virtue of the indemnification provisions of this Agreement, have any
subrogation rights with respect to it, it being expressly understood and agreed
that no insurer or any other third party shall be entitled to a "windfall"
(i.e., a benefit they would not be entitled to receive in the absence of the
indemnification provisions appearing in this agreement) by virtue of the
indemnification provisions of this Agreement.

         4.04   Procedure for Indemnification.

                  (a) If an indemnitee shall receive notice or otherwise learn
         of the assertion by a person (including, without limitation, any
         governmental entity) who is not a party to this agreement or to any of
         the Ancillary Agreements of any claim or of the commencement by any
         such person of any action (a "third party claim") with respect to which
         an indemnifying party may be obligated to provide indemnification
         pursuant to this agreement, such indemnitee shall give such
         indemnifying party written notice of it promptly after becoming aware
         of such third party claim; the failure of any indemnitee to give notice
         as provided in this Section 4.04 shall not relieve the related
         indemnifying party of its obligations under this Article IV, except to
         the extent that such indemnifying party is prejudiced by such failure
         to give notice. Such notice shall describe the third party claim in
         reasonable detail and, if ascertainable, shall indicate the amount
         (estimated if necessary) of the liability that has been or may be
         sustained by such indemnitee.

                  (b) An indemnifying party may elect to defend or to seek to
         settle or compromise, at such indemnifying party's own expense and by
         such indemnifying party's own counsel, any third party claim. Within 30
         days of the receipt of notice from an Indemnitee in accordance with
         Section 4.04(a) (or sooner, if the nature of such third party claim
         requires it), the indemnifying party shall notify the related
         indemnitee if the indemnifying party elects not to defend or to seek to
         settle or compromise such third party claim, which election may be made
         only in the event of a good faith assertion by the indemnifying party
         that a claim was inappropriately tendered under Section 4.01 or 4.02.
         Unless an indemnifying party elects not to assume the defense of or to
         seek to settle or compromise a third party claim, such indemnifying

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Split-Off Agreement                                                 Page 8 of 13
Date: June 10, 2004

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         party shall not be liable to such indemnitee under this article IV for
         any legal or other expenses subsequently incurred by such Indemnitee in
         connection with the defense of it; provided that if the defendants in
         any such claim include both the indemnifying party and one or more
         indemnitees, and in any indemnitee's reasonable judgment a conflict of
         interest between one or more of such indemnitees and such indemnifying
         party exists in respect of such claim, such indemnitees shall have the
         right to employ separate counsel to represent such indemnitees and in
         that event the reasonable fees and expenses of such separate counsel
         (but not more than one separate counsel reasonably satisfactory to the
         indemnifying party) shall be paid by such indemnifying party; and
         provided further that the indemnifying party shall not be entitled to
         settle such action or claim on behalf of the indemnitee without the
         prior written consent of the indemnitee, which consent shall not
         unreasonably be withheld. For the purposes of this agreement, such
         consent shall be deemed to be reasonably withheld only if such
         settlement would, in addition to the payment of money, impose an
         unreasonable and material burden on the indemnitee, including without
         limitation a consent judgment or injunction. If an indemnifying party
         elects not to defend, or elects not to seek to settle or compromise, a
         third party claim, such indemnitee may defend or seek to compromise or
         settle such third party claim.

                  (c) If an indemnifying party chooses to defend or to seek to
         compromise or settle any third party claim, the related indemnitee, at
         its own expense, shall make available to such indemnifying party any
         personnel or any books, records or other documents within its control
         or which it otherwise has the ability to make available that are
         necessary or appropriate for such defense, settlement or compromise,
         and shall otherwise cooperate in the defense, settlement or compromise
         of such third party claims.

                  (d) Notwithstanding anything else in this Section 4.04 to the
         contrary, neither an indemnifying party nor an indemnitee shall settle
         or compromise any third party claim unless such settlement or
         compromise contemplates as an unconditional term of it the giving by
         such claimant or plaintiff to the indemnitee or the indemnifying party,
         respectively, of a written release from all liability with respect to
         such third party claim.

                  (e) Any claim on account of a liability which does not result
         from a third party claim shall be asserted by written notice given by
         the indemnitee to the related indemnifying party. Such indemnifying
         party shall have a period of 30 days after the receipt of such notice
         within which to respond in writing to it. If such indemnifying party
         does not respond within such 30 day period, such indemnifying party
         shall be deemed to have rejected responsibility to make payment. If
         such indemnifying party does respond in writing within such 30 day
         period and rejects such claim in whole or in part, or in the event a
         claim is deemed to have been rejected, such indemnitee shall be free to
         pursue such remedies as may be available to such party under applicable
         law.

                  (f) In addition to any adjustments required pursuant to
         Section 4.03, if the amount of any liability shall, at any time
         subsequent to the payment required by this agreement, be reduced by
         recovery, settlement or otherwise, the amount of such reduction,

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Date: June 10, 2004

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         less any expenses incurred in connection with them, shall promptly be
         repaid by the indemnitee to the indemnifying party.

                  (g) Upon the written demand of an indemnitee, an indemnifying
         party shall reimburse or advance funds to such indemnitee for all
         Liabilities reasonably incurred by it in connection with investigating
         or defending any third party claim in advance of its final disposition;
         provided that such reimbursement need be made only upon delivery to the
         indemnifying party of an undertaking by such indemnitee to repay all
         amounts so reimbursed or advanced if it shall ultimately be determined
         that such Indemnitee is not entitled to indemnification under this
         Article IV or otherwise.

                  (h) In the event of payment by an indemnifying party to any
         indemnitee in connection with any third party claim, such indemnifying
         party shall be subrogated to and shall stand in the place of such
         indemnitee as to any events or circumstances in respect of which such
         indemnitee may have any right or claim relating to such third party
         claim against any claimant or plaintiff asserting such third party
         claim or against any other person. Such indemnitee shall cooperate with
         such indemnifying party in a reasonable manner, and at the cost and
         expense of such indemnifying party, in prosecuting, in its name or in
         the name of the indemnitee, any subrogated right or claim.

         4.05 Remedies Cumulative. The remedies provided in this Article IV
shall be cumulative and shall not preclude assertion by any indemnitee of any
other rights or the seeking of any and all other remedies against any
indemnifying party; provided that all remedies sought or asserted by an
Indemnitee against an indemnifying party with respect to a liability shall be
limited by and be subject to the provisions of this Article IV.

         4.06 Survival of Indemnities. The obligations of each of (i) Laid Back
on the one hand, and (ii) LBE, on the other hand, under this Article IV, shall
survive the sale or other transfer by it of any assets or businesses or the
assignment by it of any Liabilities, with respect to any loss of the other
related to such assets, businesses or Liabilities.

                                    ARTICLE V
                              ACCESS TO INFORMATION

         5.01 Access to Information. From and after the Distribution Date, Laid
Back shall afford to LBE and its authorized accountants, counsel and other
designated representatives reasonable access (including using reasonable efforts
to give access to persons or firms possessing information) and duplicating
rights during normal business hours to all records, books, contracts,
instruments, computer data and other data and information (collectively,
"information") within Laid Back's possession or under Laid Back's direction or
control relating to LBE or Laid Back insofar as such access is reasonably
required by LBE. Similarly, LBE shall afford to Laid Back and its authorized
accountants, counsel and other designated representatives reasonable access
(including using reasonable efforts to give access to persons or firms
possessing information) and duplicating rights during normal business hours to
information within LBE's possession or under LBE's direction or control relating
to Laid Back or LBE insofar as such access is reasonably required by Laid Back.

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Split-Off Agreement                                                Page 10 of 13
Date: June 10, 2004

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Information may be requested under this article V for, without limitation,
audit, accounting, claims, litigation and tax purposes, as well as for purposes
of fulfilling disclosure and reporting obligations and for performing this
agreement the Ancillary Agreements and the transactions contemplated hereby and
thereby. Except as otherwise provided herein, Laid Back and LBE shall retain and
keep confidential all information relating to the other party. The
confidentiality obligation contained in this agreement shall not apply to
information which (i) is not confidential at the time it is obtained by the
party, (ii) becomes available to the party, through no fault of that party's
employees, agents, successors or assigns under this agreement, from a third
party source having no requirement of confidentiality to the other party to this
agreement, (iii) falls into the public domain through no fault of the party, or
(iv) is required to be disclosed by law or to a governmental agency.

         5.02 Retention of Records. Except as otherwise agreed to in writing,
each of Laid Back and LBE shall retain for a period of at least seven years, all
information relating to the other; provided that after the expiration of such
period, such information shall not be destroyed or otherwise disposed of at any
time, except as otherwise provided in the Administrative Services Agreement.

         5.03 Production of Witnesses. At all times from and after the
Distribution Date, each of Laid Back and LBE shall use reasonable efforts to
make available to the other upon written request, its officers, directors,
employees and agents as witnesses to the extent that such persons may reasonably
be required in connection with any legal, administrative or other proceedings in
which the requesting party may from time to time be involved.

                                   ARTICLE VI
                                  MISCELLANEOUS

         6.01 Complete Agreement; Construction. This agreement, including any
schedules and exhibits and the Ancillary Agreements and other agreements and
documents referred to herein, shall constitute the entire agreement between the
parties with respect to the subject matter hereof and shall supersede all
previous negotiations, commitments and writings with respect to such subject
matter. Notwithstanding any other provisions in this agreement to the contrary,
in the event and to the extent that there shall be a conflict between the
provisions of this agreement and the provisions of the tax sharing agreement or
the Administrative Services Agreement, the provisions of the tax sharing
agreement or the Administrative Services Agreement shall control.

         6.02 Survival of Agreements. Except as otherwise contemplated by this
agreement, all covenants and agreements of the parties contained in this
agreement shall survive the Distribution Date.

         6.03 Expenses. Except as otherwise set forth in this agreement or any
Ancillary Agreement, all costs and expenses arising prior to the Distribution
Date (whether or not then payable) in connection with the consummation of the
transactions contemplated by this agreement other than (i) the fees and expenses
of any counsel, (ii) costs incurred in connection with any financing
arrangements entered into by LBE, and (iii) fees of the National Association of
Securities Dealers, Inc. incurred with respect to the authorization for
quotation of the Laid Back corporate stock, all of which shall be paid by Laid

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Split-Off Agreement                                                Page 11 of 13
Date: June 10, 2004

<PAGE>

Back to the extent that appropriate documentation concerning such costs and
expenses shall be provided to Laid Back. Such costs and expenses shall include,
without limitation, printing costs and other expenses related to the
preparation, printing and Distribution of the information statement.

         6.04 Governing Law. This agreement shall be governed by and construed
in accordance with the laws of the State of Oklahoma, without regard to the
principles of conflicts of laws of it.

         6.05 Notices. All notices and other communications hereunder shall be
in writing and shall be delivered by hand or mailed by registered or certified
mail (return receipt requested) to the parties at the following addresses (or at
such other addresses for a party as shall be specified by like notice) and shall
be deemed given on the date on which such notice is received:

              To Laid Back:   4020 Will Rogers Parkway, Suite 300
                              Oklahoma City, Oklahoma 73108
                              Attn: Ronald Hurt

              To LBE:         4020 Will Rogers Parkway, Suite 700
                              Oklahoma City, Oklahoma 73108
                              Attn: Max Colclasure

         6.06     Amendments. This agreement may not be modified or amended
except by an agreement in writing signed by both parties hereto.

         6.07 Successors and Assigns. This agreement and all of the provisions
hereof shall be binding upon and inure to the benefit of the parties and their
respective successors and permitted assigns.

         6.08 Termination. This agreement may be terminated and the Distribution
abandoned at any time prior to the Distribution Date by and in the sole
discretion of the Laid Back Board without the approval of LBE, or of Laid Back
shareholders. In the event of such termination, no party shall have any
liability of any kind to any other party except that expenses incurred in
connection with the transactions contemplated hereby shall be paid as provided
in Section 6.04.

         6.09 No Third-Party Beneficiaries. Except for the provisions of Article
IV relating to indemnitees, this agreement is solely for the benefit of the
parties to it and their respective Affiliates and shall not be deemed to confer
upon third parties any remedy, claim, reimbursement, claim of action or other
right in excess of those existing without reference to this agreement.

         6.10 Titles and Headings. Titles and headings to sections in this
agreement are inserted for the convenience of reference only and are not
intended to be part of or to affect the meaning or interpretation of this
agreement.

         6.12     Legal Enforceability. Any provision of this agreement which is
prohibited or unenforceable shall be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions of

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Split-Off Agreement                                                Page 12 of 13
Date: June 10, 2004

<PAGE>

it. Any such prohibition or unenforceability shall not invalidate or render
unenforceable such provision or remedies otherwise available to any party to
this agreement. Without prejudice to any rights or remedies otherwise available
to any party to this agreement, each party to this agreement acknowledges that
damages would be inadequate remedy for any breach of the provisions of this
agreement and agrees that the obligations of the parties under this agreement
shall be specifically enforceable.

         In witness, the parties have caused this agreement to be duly executed
as of the day and year first written above.

"Laid Back"                                    Laid Back Enterprises, Inc.,
                                               an Oklahoma corporation

                                            By:  /s/  Ronald Hurt
                                               ---------------------------------
                                                      Ronald Hurt,
                                                      Executive Vice President

"LBE"                                          LBE Transition, Inc., an Oklahoma
                                               corporation

                                            By:  /s/  Max Colclasure
                                               ---------------------------------
                                                      Max Colclasure, President

--------------------------------------------------------------------------------

Split-Off Agreement                                                Page 13 of 13
Date: June 10, 2004Exhibit 10.3

                             TAX SHARING AGREEMENT

         This tax sharing agreement (the "Agreement"), dated as of December 20,
2002, by and between Laid Back Enterprises, Inc., an Oklahoma corporation ("Laid
Back") and LBE Transition, Inc., an Oklahoma corporation ("LBE") which as of the
date of this agreement is a wholly owned subsidiary of Laid Back.

                                    RECITALS:

         Laid Back desires to separate its businesses into independent
companies. Laid Back intends to split-off (the "Split-off") to certain of its
shareholders all of the outstanding capital stock of LBE at the date and time of
such Split-off (the "Split-off Date") in exchange for all or a portion of said
shareholders' shares in Laid Back, thereby terminating the parent-subsidiary
relationship that has existed between the two companies.

         The parties recognize that it will be necessary or advisable to define
their respective rights and responsibilities pertaining to federal and state
income tax (the term "state income tax" includes all state franchise taxes
measured by net income) liabilities.

         Therefore, in consideration of the mutual covenants and subject to the
terms and conditions contained in this agreement, the parties agree as follows:

         1. Liabilities Attributable to Pre-Split-off Periods.

                  (a) Returns. Laid Back, on a consolidated basis with LBE has
         timely filed (or has obtained or will obtain valid extensions of time
         for filing and will file) all federal and state income tax returns
         which are required to be filed for periods up to and including the
         Split-off Date.

                  (b) Tax Liabilities. Reasonable estimates of federal and state
         income taxes of LBE for all pre-Split-off periods (and taxes deemed to
         be attributable to pre-Split-off periods, pursuant to Section 3) have
         been or will be reflected in the pre-Split-off financial statements of
         LBE in accordance with Laid Back's tax allocation and settlements
         policy, subject to adjustments to be made upon filing the final Laid
         Back consolidated federal income tax return in which LBE are included.

                  (c) Tax Carryforwards. Prior to, or concurrent with, the
         Split-off, Laid Back will cause LBE's allocable share of Laid Back's
         accrued consolidated federal net operating loss, investment tax credit
         and other federal tax carryforwards ("Carryforwards"), if any, to be
         transferred to LBE's books through the intercompany tax note account.
         Such allocable share of Carryforwards will be Laid Back's best estimate
         based upon information then available and computed in accordance with
         regulations pursuant to Section 1502 of the Internal Revenue Code of
         1986 ("Code"), dealing with consolidated returns. The estimate of LBE
         allocable share of Carryforwards shall be adjusted and settled upon the

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Tax Sharing Agreement                                                Page 1 of 5
Date: June 10, 2004

<PAGE>

         filing of the final Laid Back consolidated federal income tax return in
         which LBE are included, and from time to time as the allocation is
         affected by audits.

                  (d) Settlement of Tax Liability. Prior to, or concurrent with,
         the Split-off, LBE will settle with Laid Back, its current income tax
         liability and intercompany tax note accounts (as determined in Section
         1(b), before the return adjustments noted in such section). Such
         settlement shall be effected by payments and/or adjustments to
         shareholder's equity of LBE, as mutually agreed by the parties.

                  (e) Post-Split-off Adjustment to Pre-Split-off Liabilities.
         Subject to Section 1(f), Laid Back and LBE agree that tax deficiencies
         of (including applicable penalties and interest), or refunds due, LBE
         attributable to any period ending on or before the Split-off Date, and
         whether the result of audits, discovery of errors or otherwise, will be
         paid or retained by Laid Back, except to the extent that: (i) an
         additional tax liability results in an adjustment that will provide LBE
         a tax benefit in future periods (e.g., an adjustment to tax
         depreciation that increases the tax basis of assets of LBE and that
         will provide increased tax deductions to LBE) or has been accrued on
         the financial statements of LBE prior to the Split- off, (ii) an
         additional tax benefit results in an adjustment that will provide LBE a
         tax liability in future periods, or (iii) the payment or retention by
         Laid Back would result in either Laid Back or LBE incurring or
         receiving a double liability or benefit attributable to the same item.

                  (f) Payment of Post-Split-off Adjustments to Pre-Split-off
         Liabilities. Post- Split-off adjustments to pre-Split-off liabilities,
         under Sections 1(b), 1(c), 1(e)(i), 1(e)(ii), 1(e)(iii) and 2(c), shall
         not become payable, whether by Laid Back to LBE or LBE to Laid Back,
         until such time as the net aggregate amount of all then existing claims
         owed by one party to the other exceeds the sum of $2,500 at which time
         all such amounts shall become payable. In the event that net aggregate
         adjustments owed by one party to the other never exceeds $2,500, no
         amounts shall become payable by that party.

                  Payment of amounts payable by Laid Back shall be paid within
         30 days upon receipt of a full accounting of such amounts from LBE.
         Payment of amounts payable by LBE shall be paid within 30 days of the
         date on which LBE receives a benefit attributable to the adjustments.
         Notwithstanding the foregoing, all amounts shall be paid no later than
         three years from the extended due date of the final pre-Split-off
         return. In the event that amounts become payable after this date,
         payment will become due and be paid within 30 days of receipt of
         notification, which notification shall include a full accounting.

                  Once the net aggregate amount exceeds $2,500 and payment has
         been made by one party to the other, any subsequent adjustment
         (including adjustments to amounts already paid) shall become due within
         30 days of receipt of notification, which notification shall include a
         full accounting. Laid Back, or LBE, as applicable, shall provide the
         other party with an annual accounting of all of such adjustments,
         regardless of whether or not the amounts have become payable or a
         payment is required. This subparagraph does not preclude LBE

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Tax Sharing Agreement                                                Page 2 of 5
Date: June 10, 2004

<PAGE>

         from adjusting their post-Split-off tax returns to reflect the sum of
         the adjustments prior to payment.

                  (g) Administration. After the Split-off, Laid Back, and its
         officers, employees, representatives or agents, shall not sign or
         execute any waivers, extensions or other agreements relating to any
         federal or state statute of limitation for any tax period ending on or
         prior to the Split-off Date, and Laid Back shall provide the necessary
         powers of attorney to enable LBE to sign tax returns, claims for
         refund, protests of assessments and statute of limitation agreements
         with respect to periods ending on or prior to the Split-off Date.

                  LBE shall be entitled to participate in the resolution of any
         pre-Split-off audit dispute which affects post-Split-off tax returns of
         LBE, provided however, that Laid Back shall be entitled to determine
         the final resolution. The party receiving notification from a taxing
         authority shall promptly notify the other party in the event any such
         audit dispute arises.

         2. Liabilities Attributable to Post-Split-off Periods.

                  (a) Returns. LBE shall be responsible for preparing and filing
         any and all income tax returns on behalf of itself for tax periods
         ending after the Split-off Date.

                  (b) Tax Liabilities. LBE shall be responsible for the payment
         of all liabilities and entitled to receive all refunds of federal and
         state income taxes for periods beginning and ending after the Split-off
         Date attributable to the post-Split-off operations of itself (including
         liabilities deemed attributable to post-Split-off periods, pursuant to
         Section 3).

                  (c) Tax Carrybacks. Any carryback of federal or state tax net
         operating losses or tax credits of LBE from periods beginning after the
         Split-off Date (including carrybacks deemed attributable to
         post-Split-off periods, pursuant to Section 3) to periods ending on or
         prior to the Split-off Date will be paid by Laid Back to LBE, but only
         to the extent that those losses or credits offset taxable income or tax
         liability of LBE in the carryback period as permitted by law or
         regulation and result in a cash refund to Laid Back. The time for the
         payment of tax carrybacks by Laid Back to LBE, and resulting from
         application of this paragraph (c), shall be determined in accordance
         with Section 1(f).

                  (d) Administration. Laid Back shall allow LBE reasonable
         access to properties and records so as to enable LBE to fully perform
         its obligations under this agreement.

         3. Liabilities Attributable to Periods Which Straddle the Split-off
Date. In the event that an income tax return is required to be filed by LBE for
a period that straddles the Split-off Date, the resulting liability, loss and/or
credit carryback deemed attributable to the preSplit-off period shall be
determined on a proforma basis. The difference between such proforma amount and
the amount actually determined upon filing the applicable income tax return
shall be deemed to be attributable to the postSplit-off period.

--------------------------------------------------------------------------------

Tax Sharing Agreement                                                Page 3 of 5
Date: June 10, 2004

<PAGE>

         4. Thirty Day Rule. Laid Back, at its sole discretion, may elect to
disregard certain tax periods of 30 days or less as provided in Treasury
Regulation 1.1502-76(b)(5). In such case the Split-off Date, as used in this
agreement, shall be adjusted for the period so disregarded.

         5. Amendments. This agreement may not be amended or revised except by a
written instrument signed by both parties to this agreement.

         6. Waivers. The failure of any party to this agreement at any time to
require strict performance by the other party of any provision of this agreement
shall not waive or diminish such party's right to later demand strict
performance of that or any other provision of this agreement.

         7. Governing Law. This agreement shall be governed by and construed in
accordance with the laws of the State of Oklahoma.

         8. Notices. All notices and other communications shall be in writing
and shall be delivered by hand or mailed by registered or certified mail (return
receipt requested) to the parties at the following addresses (or such other
addresses for a party as shall be specified by like notices) and shall be deemed
given on the date of which such notice is received.

              To Laid Back:     4020 Will Rogers Parkway, Suite 300
                                Oklahoma City, Oklahoma 73108
                                Attn: Ronald Hurt

              To LBE:           4020 Will Rogers Parkway, Suite 700
                                Oklahoma City, Oklahoma 73108
                                Attn: Max Colclasure

         9. Successors and Assigns. This agreement and the obligations and
rights incident to it shall inure to the benefit of the successors and permitted
assigns of the parties to this agreement.

         10. Relationship of Parties. Nothing contained in this agreement shall
be deemed to constitute the appointment of either party as the agent of the
other.

                                  * * * * * * *

--------------------------------------------------------------------------------

Tax Sharing Agreement                                                Page 4 of 5
Date: June 10, 2004

<PAGE>

         In witness, the parties to this agreement have executed this agreement
as of the date first above written.

"Laid Back"                                      Laid Back Enterprises, Inc., an
                                                 Oklahoma corporation

                                            By:  /s/  Ronald Hurt
                                               ---------------------------------
                                                      Ronald Hurt,
                                                      Executive Vice President

"LBE"                                            LBE Transition, Inc., an
                                                 Oklahoma corporation

                                            By:  /s/  Max Colclasure
                                               ---------------------------------
                                                      Max Colclasure, President

--------------------------------------------------------------------------------

Tax Sharing Agreement                                                Page 5 of 5
Date: June 10, 2004

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