D. Sam Scheele - Page 7

                                        - 7 -7                                        
          retained a 2.2-percent interest that would remain a 2.2-percent             
          Weisel Resignation Agreement                                                
               On October 14, 1988, as required by the option agreement,              
          Weisel and Biomass entered into an agreement (the Weisel                    
          resignation agreement).  Among other things, the Weisel                     
          resignation agreement grants Weisel 7.5 percent of the gross                
          recovery from the Biomass lawsuit.                                          
          Weisel-Petitioner Sharing Agreement                                         
               Also on October 14, 1988, Weisel and petitioner entered into           
          an agreement (the Weisel-petitioner sharing agreement) whereby              
          they agreed to share their interests in Biomass equally,                    
          including, among other things, Weisel's 7.5-percent interest in             
          the gross recovery from the Biomass lawsuit.  Petitioner and                
          Weisel had agreed prior to entering into the option agreement               
          that they would not enter into the option agreement unless they             
          shared everything they received from Biomass.                               
          Settlement Proceeds                                                         
               After the settlement of the Biomass lawsuit, by a letter               
          dated November 14, 1989, Marc D. Rappaport, the then managing               
          general partner of Biomass authorized Irell and Manella to pay              
          Weisel 7.5 percent of the settlement proceeds then held in the              
          trust account.  Pursuant to that authorization, payments from the           

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  13  Next

Last modified: May 25, 2011