Guarantee
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Bergen, October 5, 2008
Payment Guarantee Guarantor: Beneficiary:
Mikkel Krogh StatoilHydro ASA (org. no. 923609016) Edvard Griegs Plass 1, 5015 Bergen, Norway Thomas Ashton 7 Oxford St, Paddington NSW 2021 Sydney, Australia
The Guarantor hereby acknowledges the following. In consideration of the Beneficiary’s work on Project, there shall be payment to the Beneficiary in two elements. The first element is a contractual sum of USD$2,500.00, to be paid no later than January 1, 2009. The second element is a one-half share in the profits generated by Project, not to exceed a total sum of USD$300,000.00. This guarantee shall be governed by the laws of Norway, within the Bergen City Court. Mikkel Krogh
Payment Guarantee Guarantor: Beneficiary:
Mikkel Krogh StatoilHydro ASA (org. no. 923609016) Edvard Griegs Plass 1, 5015 Bergen, Norway Thomas Ashton 7 Oxford St, Paddington NSW 2021 Sydney, Australia
The Guarantor hereby acknowledges the following. In consideration of the Beneficiary’s work on Project, there shall be payment to the Beneficiary in two elements. The first element is a contractual sum of USD$2,500.00, to be paid no later than January 1, 2009. The second element is a one-half share in the profits generated by Project, not to exceed a total sum of USD$300,000.00. This guarantee shall be governed by the laws of Norway, within the Bergen City Court. Mikkel Krogh
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