Document:

EXHIBIT 10.98

 

SEVENTH AMENDMENT TO

GAS SALES AGREEMENT

 

 

This Seventh Amendment to
Gas Sales Agreement (“Amendment”) is executed as of March 31, 2004, by
Tipperary Oil & Gas (Australia) Pty Ltd (ACN 077 536 871) of GPO Box 1100,
Brisbane, Queensland, Australia 4001 (“Seller”), and QUEENSLAND FERTILISER
ASSETS LIMITED (ACN 011 062 294) of 76 Arthur Street, Roma, Queensland,
Australia (“Buyer”).

 

WITNESSETH: 

 

A. The Seller and Buyer have previously delivered Gas Sales Agreement
dated September 28, 2001, as amended by Amendment to Gas Sales Agreement
dated as of May 30, 2002, Second Amendment to Gas Sale Agreement dated as of
September 1, 2002, Third Amendment to Gas Sale Agreement dated as of
January 1, 2003, Fourth Amendment to Gas Sale Agreement dated as of
March 31, 2003, Fifth Amendment to Gas Sale Agreement dated as of
June 30, 2003 and Sixth Amendment to Gas Sale Contract dated as of
December 31, 2003 (collectively, the “Original Agreement”) governing the
sale and supply of Gas to Buyer subject to the terms and conditions set forth
therein including, without limitation, the Seller and the Buyer obtaining
necessary financing commitments, under terms reasonably acceptable to each of
them, by March 31, 2004 for (1) Buyer to construct and commission the Plant
and the Pipeline between March 31, 2004 and the Commencement Date and (2)
Seller to drill and complete the number of wells, and install laterals and
compressors, as Seller reasonably deems necessary between March 31, 2004
and the Commencement Date to deliver the ACQ to the Delivery Point and meet
Pipeline Pressure requirements; and

 

B. The Seller and Buyer have agreed, subject to the terms and
conditions set forth below, to amend the Original Agreement to (1) extend the
date for Seller and Buyer to obtain their respective financing commitments to
September 30, 2004 and (2) otherwise
modify the Original Agreement as set forth herein.

 

NOW, THEREFORE, for a sufficient consideration received by each, the
Seller and Buyer agree to amend the Original Agreement as follows.

 

1.              Definitions. The
definition of Commencement Date in the Original Agreement is hereby amended and
replaced in its entirety as set forth below.

 

“Commencement Date” means the later of:

 

(a)          1 April 2007; or

 

1

 

(b)         the date after 1 April 2007 on which the
Buyer takes the first delivery of Gas from the Seller under this Agreement
pursuant to the notice given under Clause 2.4;

 

provided that, if
Buyer has not previously taken the first delivery of Gas from the Seller under
Subparagraph (b) above, the Commencement Date shall be deemed to occur on 1
August 2007.”

 

2.              Sale and Purchase.
Section 2.1, the preamble of Section 2.2 and Section 2.4
of the Original Agreement, each stating conditions precedent to Seller’s and
Buyer’s obligations under the Original Agreement, are hereby amended and
replaced in their entirety as set forth below.

 

“2.1                           The obligations of the
Parties under the Agreement, other than their obligations under Clauses 17,
20 and 24, are subject to and do not become binding unless:

 

(a)          Buyer: (i) establishes and maintains its
creditworthiness to the reasonable satisfaction of the Seller, and (ii) the
Buyer has in place the necessary financing commitments, under terms reasonably
acceptable to Buyer and Seller, that will foreseeably allow Buyer to construct
and commission the Plant and the Pipeline between September 30, 2004 and
the Commencement Date. If these conditions precedent are not satisfied by
September 30, 2004, then this Agreement will terminate (except for Clauses
17, 20 and 24 and the enforcement of any right or claim which arises
thereunder), unless the Seller agrees in writing to extend the time required to
meet these conditions.

 

(b)         Seller has in place the necessary
financing commitments, under terms reasonably acceptable to Buyer and Seller,
that will foreseeably allow Seller to drill and complete the number of wells,
to install laterals and compressors, as Seller reasonably deems necessary
between September 30, 2004 and the Commencement Date to deliver the ACQ to
the Delivery Point and meet Pipeline Pressure requirements.  If these conditions precedent are not
satisfied by September 30, 2004, then this Agreement will terminate (except
for Clauses 17, 20 and 24 and the enforcement of any right of claim
which arises thereunder), unless Buyer agrees in writing to extend the time
required to meet this condition.”

 

“2.2                           In addition to the
conditions in Clause 2.1, Buyer shall begin actual construction of the
Plant by December 1, 2004, and diligently prosecute actual construction of
the Plant and the Pipeline thereafter in an orderly and prudent manner through
and until the Commencement Date.”

 

2

 

“2.4                           The Buyer must deliver
written notice to the Seller not less that forty-five (45) Business Days’
before the Day on which the Buyer intends to take the first delivery of Gas
from the Seller under this Agreement; provided that Seller shall have no
obligation to supply Gas to Buyer before 1 January 2007.”

 

3.     Authority,
Effect and Governing Law. Section 20.1
(a), containing a representation and warranty regarding Seller’s and
Buyer’s corporate proceedings with respect to the Original Agreement, is hereby
amended and replaced in its entirety as set forth below.

 

“20.1                     Each Party represents and warrants
to the other Party now and at all times during the Term:

 

(a)                                  It is a company duly incorporated under
the laws of Queensland and has the power and authority to enter into this
Agreement and will have undertaken and complied with the necessary corporate
proceedings to ensure this Agreement is enforceable and binding on it or before
September 30, 2004 (unless otherwise terminated on or before that date);”

 

4.     Capitalized
Terms. All capitalized terms shall have the
meaning assigned to them in the Original Agreement, except as added, amended or
otherwise restated herein or unless the context clearly requires otherwise. In
addition: references in the Original Agreement to the “Agreement,”  “hereof”, “herein” and words of similar
import shall be deemed to be references to the Original Agreement as amended
hereby.

 

5.     Representations.  The Seller and Buyer respectively represent
and warrant that all of the representations and warranties contained in the Original
Agreement (and any certificates and documents executed pursuant thereto or
contemplated thereby) are true and correct in all material respects on and as
of the effective date of this Amendment.

 

6.     Conflicts
and Continuation. In the event that this
Amendment conflicts or is inconsistent with the Original Agreement, this
Amendment shall control. Except as specifically amended herein, all of the
terms and conditions of the Original Agreement (and any certificates and
documents executed pursuant thereto or contemplated thereby) shall remain in
full force and effect in accordance with their respective terms.

 

7.     Severability.  In the event any one or more provisions
contained in the Original Agreement or this Amendment should be held to be
invalid, illegal or unenforceable in any respect, the validity, enforceability
and legality of the remaining provisions contained herein and therein shall not
be affected in any way or impaired thereby and shall be enforceable in
accordance with their respective terms.

 

3

 

8.     Acknowledgment.  The Seller and Buyer respectively ratify and
confirm that the Original Agreement (and any certificates and documents
executed pursuant thereto or contemplated thereby) remain in full force and
effect in accordance with their respective terms, except as amended hereby. The
representatives of the Seller and Buyer executing this Amendment each represent
and warrant to the others that they are duly appointed agents or officers of
the party to the Original Agreement as designated in the signature lines below,
they have full power and authority to execute and deliver this Amendment on
behalf of the party to the Original Agreement as designated below, they have
obtained all corporate or other authorizations as may be applicable to each of
them.

 

 

EXECUTED as an agreement.

 

	
  THE COMMON SEAL of TIPPERARY OIL & GAS (Australia)

  	
  )

  
	
  Pty LTD (ACN 077 536 871 was duly affixed to this document in

  	
  )

  
	
  accordance with its articles of association in the presence of:

  	
  )

  

 

 

	
  /s/ Richard A. Barber

  	
   

  	
  /s/ David L. Bradshaw

  
	
  Signature of Secretary

  	
   

  	
  Signature of Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Richard A. Barber

  	
   

  	
  David L. Bradshaw

  
	
  Name of Secretary – please print

  	
   

  	
  Name of Director – please print

  

 

 

[Remainder of this page intentionally left
blank]

 

4

 

	
  THE COMMON SEAL OF QUEENSLAND

  	
  )

  
	
  FERTILIZER ASSETS LIMITED (ACN 011 062 294)

  	
  )

  
	
  was duly affixed to this document in accordance

  	
  )

  
	
  with its Articles of Association in the presence of:

  	
  )

  

 

 

	
  /s/ H. J. K. Howes

  	
   

  	
  /s/ I. P. Kennedy

  
	
  Signature of Secretary

  	
   

  	
  Signature of Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  H. J. K. Howes

  	
   

  	
  I. P. Kennedy

  
	
  Name of Secretary – please print

  	
   

  	
  Name of Director – please print

  

 

5<PAGE>

                                                                    Exhibit 10.1

                    SEPARATION AGREEMENT AND GENERAL RELEASE

         This Separation Agreement (hereinafter, the "Agreement") is entered
into between DOUGLAS BERTO ("Employee") and Intelligroup, Inc., a New Jersey
Corporation including, without limitation, its predecessors, successors,
parents, subsidiaries, and affiliates ("Intelligroup") effective as of the
Effective Date (as defined in Section 10 below).

         WHEREAS, it has been determined that Employee's employment with
Intelligroup shall be terminated;

         WHEREAS, by this Agreement, Employee and Intelligroup desire to resolve
any and all matters relating to Employee's employment and the termination
thereof, completely and forever;

         NOW THEREFORE, in consideration of the mutual promises contained in
this Agreement and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows.

         1. Employee's last day of employment shall be DECEMBER 6, 2004. (the
"Separation Date").

         2. Intelligroup agrees to provide Employee with the following
separation benefits assuming successful transition, payable beginning on the
Effective Date of this Agreement, as defined in paragraph 10 below. Note that
wages, banked vacation, expenses and other monies due and owing, if any, shall
be paid to employee following the Separation Date. Severance payments shall not
commence until the Effective Date as defined in Section 10 below.

Separation Agreement and General Release
Confidential

<PAGE>

                  Separation Benefits:

                  A.) Intelligroup shall pay to the Employee the equivalent of
                  his or her regular salary beginning DECEMBER 6, 2004 and
                  continuing for a period of six MONTHS. This amount shall be
                  paid in accordance with the normal payroll schedule.

                  B.) Intelligroup shall pay to the Employee all accrued and
                  remaining vacation time through Separation Date.

                  C.) As set forth above, severance benefits shall not be paid
                  until the Effective Date as defined in Section 10 herein. Note
                  that this date will not occur until after this agreement has
                  been signed. Employee understands and acknowledges that the
                  terms and conditions of this Agreement shall not be binding
                  until signed by Employee and properly delivered to
                  Intelligroup. To properly deliver the signed Agreement to
                  Intelligroup, Employee must deliver the signed and dated
                  Agreement, by one witness, to Intelligroup by hand or by mail
                  within the forty-five (45) calendar day period as set forth in
                  paragraph 10. All personal deliveries shall be made to
                  Intelligroup at the following address: Human Resources, Attn
                  Shirley Spoors, Intelligroup, Inc., 499 Thornall, Eleventh
                  Floor, Edison, NJ 08837.

                  E.) If applicable, Employee shall have ninety (90) days to
                  exercise any vested stock options.

         3. As a material inducement to Intelligroup to enter into this
Agreement, Employee hereby irrevocably and unconditionally releases, acquits,
and forever discharges Intelligroup and its predecessors, successors, parents,
subsidiaries and divisions, assigns, agents, officers, employees, trustees,
directors, shareholder, representatives, attorneys, affiliates, and any other
related entities, and all persons acting by, through, under, or in concert with
any of them (collectively referred to herein as "Releasees"), from any and all
charges, complaints, claims, liabilities, obligations, promises, agreements,
damages, causes of action, suits, demands, losses, debts, attorneys' fees and
expenses of any nature whatsoever, known or unknown ("Claim" or "Claims") which
Employee has or claims to have against any or all of the Releasees. This General
Release of Claims shall include, without limitation, all Claims based upon
actions or omissions (or alleged actions or omissions) that have occurred up to

Separation Agreement and General Release
Confidential
                                       -2-
<PAGE>

and including the Effective Date of this Agreement, and all Claims relating to
Employee's employment and separation from employment with Intelligroup,
including, without limitation, all Claims of discrimination under the common law
or any federal or state statute (including, without limitation, the Age
Discrimination in Employment Act, as amended, and Older Workers Benefit
Protection Act, Title VII of the Civil Rights Act of 1964, the National Labor
Relations Act, the New Jersey Human Rights Act, and the Americans with
Disabilities Act or any other applicable state employment practices laws) and
all other statutory, common law, or other claims of any nature whatsoever, to
the extent permitted by law. With respect to the Claims Employee is waiving
herein, Employee is waiving his or her right to receive money or any other
relief in any action instituted on his or her behalf by any other person, entity
or government agency. Employee further agrees that if any agency or court
assumes jurisdiction over any complaint or charge on his or her behalf against
any of the Releasees, he or she will request the immediate dismissal of the
matter.

         4. Employee represents and warrants that he or she has not filed any
cause of action, claim, charge or other action or proceeding against
Intelligroup or any Releasees, and consistent with paragraph 3, above, that he
or she will not file or assert any cause of action, claim, charge or other
action or proceeding against Intelligroup or any Releasees.

         5. Employee and the Company agree to keep the existence and terms of
this Agreement and the existence and terms of the negotiations leading up to
this Agreement completely confidential and shall not disclose these matters to
anyone, in words or in substance. Notwithstanding the foregoing, either party
may disclose such matters:

         a.  To their immediate family members, executive team, board of
             directors, attorneys, accountants, and/or financial/tax
             advisors, provided that the disclosing party shall first
             obtain any such person's agreement to keep all such matters
             completely confidential and not to disclose any such matters
             to anyone;

Separation Agreement and General Release
Confidential
                                       -3-
<PAGE>

         b.  To the extent required by law, any government taxing authority
             or to the extent necessary to enforce the disclosing party's
             rights under this Agreement, provided that if either party
             anticipates making disclosure pursuant to this subparagraph,
             he or it shall inform the other party of his or its
             anticipated disclosure and the reasons therefore no fewer than
             ten (10) days in advance of such disclosure. The parties
             understand that Intelligroup may be required to disclose this
             Agreement publicly as required by securities laws and
             regulations.

         c.  Nothing herein shall limit the rights of any government agency
             or either party's right of access to any government agency.

         6. Employee agrees that he or she will not refer negatively to his or
her association with or make disparaging statements in oral, printed, electronic
or any other form about Intelligroup, its products and services or its past or
present directors, officers, employees, representatives or any other Releasee
described in paragraph 3, above. Intelligroup agrees that it will not refer
negatively to its association with or make disparaging remarks in oral, printed,
electronic or any other form about Employee.

         7. Each party acknowledges that any breach of the provisions of
paragraphs 5 and/or 6 above would cause the non-breaching party to incur
substantial and irreparable harm. Accordingly, in addition to provable damages,
the non-breaching party shall be entitled to preliminary and permanent
injunctive relief prohibiting any conduct that violates paragraphs 5 and/or 6 of
this Agreement.

Separation Agreement and General Release
Confidential
                                       -4-
<PAGE>

         8. At Employee's request, Intelligroup will provide a mutually agreed
upon reference. Such reference will be provided by a mutually agreed upon
person.

         9. Employee warrants and represents that he or she has returned to
Intelligroup: (a) all originals and copies of all proprietary or confidential
information and trade secrets of Intelligroup; (b) all originals and copies of
Intelligroup files, whether in printed or electronic format; (c) all
identification cards, keys, or other means of access to Intelligroup; and (d)
any other property of Intelligroup in his or her possession, custody or control.

         10. Employee agrees that he or she will cooperate with and assist
Intelligroup in the future in the event that Intelligroup is presented with
legal issues as to which he or she has relevant information and knowledge. In
the event the Employee is contacted regarding any such matter, the Employee
shall promptly contact the Company. The parties acknowledge that any and all
indemnification obligations that Intelligroup has in relation to the Employee
shall survive and continue to the extent provided for by Intelligroup's bylaws.

         11. Employee acknowledges that he or she has been given up to
forty-five (45) days to complete his or her review of this Agreement, sign it
and return it to Intelligroup by certified mail, return receipt requested at the
following address: Intelligroup, Inc., Human Resources, Attn. Shirley Spoors,
499 Thornall, Edison, NJ 08837. Employee also understands that he or she has
fifteen (15) days following his or her execution of this Agreement to revoke
this Agreement (the "Revocation Period"). To be effective, any revocation of the
Agreement by Employee must be in writing and received by Intelligroup prior to
the expiration of the Revocation Period, such notice shall be sent to
Intelligroup by certified mail, return receipt requested at the following
address: Intelligroup, Inc., Human Resources, Attn. Shirley Spoors, 499
Thornall, Edison, NJ 08837. The Effective Date of this Agreement shall be the
date immediately following expiration of the Revocation Period.

Separation Agreement and General Release
Confidential
                                       -5-
<PAGE>

         12. This Agreement shall be binding upon Employee, his or her heirs,
administrators, representatives, executors, successors, and assigns, and shall
likewise be binding upon Intelligroup, its representatives, successors, and
assigns, and shall inure to the benefit of Employee, Intelligroup and to their
respective heirs, administrators, representatives, executors, successors, and
assigns.

         13. This Agreement constitutes a single, integrated contract expressing
the entire agreement between the parties and terminates and supersedes all other
agreements or arrangements between Employee and Intelligroup pertaining to
Employee's separation of employment from Intelligroup and the release of claims
as set forth herein. With the exception of the foregoing, all other agreements
between Employee and Intelligroup shall remain in full force and effect
including, without limitation, the Employee Agreement Regarding Inventions,
Confidentiality and Non-Competition which shall survive the separation of
employment from Intelligroup, consistent with its terms. This Agreement may be
modified only by a writing signed by both parties. Notwithstanding the
foregoing, in the event Employee obtains employment with a potential competitor,
Employee may request a determination by Intelligroup as to whether or not
Intelligroup considers said association to be in breach of the Employee
Agreement Regarding Inventions, Confidentiality and Non-Competition.
Intelligroup shall respond to such request in a timely manner. Intelligroup
further agrees to not unreasonably withhold its consent. In addition, the
parties agree that the terms of the noncompete contained in Section 9
(Competitive Activities) of the Employee Agreement shall be reduced to six (6)
months.

         14. The parties represent and acknowledge that in executing this
Agreement they do not rely and have not relied upon any promise, inducement,
representation or statement, whether oral or in writing, made by the other or by
the other's agents, representatives, or attorneys with regard to the subject
matter, basis or effect of this Agreement, except as expressly set forth in this
Agreement.

Separation Agreement and General Release
Confidential
                                       -6-
<PAGE>

         15. This Agreement is made and entered into in the State of New Jersey,
and shall in all respects be interpreted, enforced, and governed under the laws
of New Jersey as a sealed instrument. Employee and Intelligroup agree that any
disputes or claims arising under this Agreement shall be resolved exclusively in
the courts residing in the State of New Jersey and each agree to submit to the
personal jurisdiction of such courts for such purposes.

         16. Should any portion, term or provision of this Agreement be declared
or determined by any court to be illegal, invalid or unenforceable, the validity
of the remaining portions, terms and provisions shall not be affected thereby,
and the illegal, invalid or enforceable portion, term or provision shall be
deemed stricken from this Agreement.

         17. The parties agree that the failure of a party at any time to
require performance of any provision of this Agreement shall not affect,
diminish, obviate or void in any way any party's full right or ability to
require performance of the same, or any other provisions of this Agreement, at
any time thereafter.

         18. This Agreement may be executed in any number of counterparts, each
of which shall be deemed to be an original, but all of which together shall
constitute one and the same instrument.

         19. This Agreement may be terminated at any time by Intelligroup in the
event of a material breach of this or any other agreement entered into by
Employee and Intelligroup, or upon any violation by the Employee of any
Intelligroup policy. Upon such termination, all benefits provided hereunder and
any and all rights or claims thereto shall be forfeited in their entirety by the
Employee.

Separation Agreement and General Release
Confidential
                                       -7-
<PAGE>

         20. Intelligroup denies that it is responsible or legally obligated to
Employee in any manner notwithstanding the release of the claims set forth
above.

         21. THIS AGREEMENT RESTRICTS OR RELEASES IMPORTANT RIGHTS. EMPLOYEE IS
VOLUNTARILY RELEASING EMPLOYEE'S CLAIMS AS SET FORTH ABOVE. EMPLOYEE REPRESENTS
AND ACKNOWLEDGES THAT HE OR SHE HAS BEEN ADVISED IN WRITING TO CONSULT WITH AN
ATTORNEY, THAT HE OR SHE HAS BEEN REPRESENTED BY COUNSEL OF HIS OR HER CHOICE IN
THE NEGOTIATION OF THIS AGREEMENT, THAT HE OR SHE HAS CONSULTED WITH HIS OR HER
COUNSEL BEFORE EXECUTING THIS AGREEMENT, THAT HE OR SHE HAS CAREFULLY READ AND
FULLY UNDERSTANDS ALL OF THE PROVISIONS OF THIS AGREEMENT, THAT HE OR SHE HAS
HAD ADEQUATE TIME AND OPPORTUNITY TO CONSIDER THIS AGREEMENT, AND THAT HE OR SHE
IS VOLUNTARILY ENTERING INTO THIS AGREEMENT.

Separation Agreement and General Release
Confidential
                                       -8-
<PAGE>

         WHEREFORE, Employee and Intelligroup have read this Agreement, have
carefully considered its provisions and attest that they are fully competent to
execute this Agreement and that they fully understand and knowingly accept its
terms in their entirety and without reservation.

Employee - DOUGLAS BERTO                   Intelligroup, Inc.

By: /s/ Douglas Berto                      By: /s/ Christian Misvaer
   -------------------------------             -------------------------------

Name: Douglas Berto                        Title:  General Counsel & Secretary
     -----------------------------                ----------------------------

Date: Dec 10, 2004                         Date:  10 Dec 2004
     -----------------------------                ----------------------------

 /s/ Illegible
----------------------------------
Witness No. 1

Date:  12/10/04
     -----------------------------

Separation Agreement and General Release
Confidential
                                       -9-

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