Mutual Termination Agreement for TIGRcub® License and Servicing Agreement between Eos Petro, Inc. and Entrex, Inc.

Summary

Eos Petro, Inc. and Entrex, Inc. have mutually agreed to terminate their TIGRcub® License and Servicing Agreement, originally dated March 1, 2012. The termination is effective as of March 1, 2013, with the exception of any terms in the original agreement that are specified to survive termination. Both parties have acknowledged and accepted this termination in writing.

EX-10.31 3 v337571_ex10-31.htm EXHIBIT 10.31

Eos Petro, Inc.

VIA E-MAIL

Entrex, Inc.

233 South Wacker Drive

Suite 300

Chicago, IL 60606

Attn: Mr. Stephen H. Watkins, Chairman and Chief Executive Officer

E-mail: ***@***

March 1, 2013

MUTUAL AGREEMENT TO TERMINATE

TIGRCUB^® LICENSE AND SERVICING AGREEMENT

Ladies and Gentlemen:

We refer you to the TIGRcub^® License and Servicing Agreement between Eos Petro, Inc. (the “Company”) and you dated March 1, 2012 (the “Agreement”). This letter serves to evidence that you and the Company have mutually agreed to terminate the Agreement, effective March 1, 2013, except for those terms of the Agreement that expressly survive termination of the Agreement in accordance with the terms thereof. Please acknowledge your acceptance of this letter and your agreement with the foregoing by signing where indicated below and returning a signed copy of this letter to the Company. We wish you the best in your future endeavors.

	Sincerely,

	“COMPANY”
	Eos Petro, Inc.

	By:	/s/ Nikolas Konstant
	Name:	Nikolas Konstant
	Title:	Chairman

Acknowledged and Accepted on

March 4, 2013

By:	/s/ Stephen H. Watkins
Name:	Stephen H. Watkins
Title:	CEO