Amendment to Settlement Agreement and Release among JPMorgan Chase Bank, MOSH Holding, Dagger-Spine Hedgehog Corp., and the Wiegand Group
This letter agreement amends a prior Settlement Agreement and Release between JPMorgan Chase Bank (individually and as Trustee of the Mesa Offshore Trust), MOSH Holding, L.P., Dagger-Spine Hedgehog Corporation, and the Wiegand Group. The amendment changes certain key dates related to the resignation of JPMorgan as Trustee and the outstanding balance on a note, due to a court hearing being rescheduled. The parties agree to seek court approval for these modifications, as required by the original agreement. The amendment is executed by the parties' attorneys and does not materially alter the original settlement terms.
Exhibit 10.2
| Andrews Kurth LLP |
Waterway Plaza Two | |
10001 Woodloch Forest Drive | |
Suite 200 | |
The Woodlands, Texas 77380 | |
713 ###-###-#### Phone | |
713 ###-###-#### Fax | |
andrewskurth.com | |
| |
Craig L. Stahl | |
713 ###-###-#### Direct | |
713 ###-###-#### Fax | |
***@*** | |
|
December 7, 2007
By Facsimile
Mr. Robert L. Ketchand
Boyer & Ketchand
9 Greenway Plaza, Suite 3100
Houston, Texas 77046
Mr. John H. Kim
The Kim Law Firm
4309 Yoakum Blvd., Suite 2000
Houston, Texas 77006
Mr. Francis I. Spagnoletti
Spagnoletti & Co.
401 Louisiana, 8th Floor
Houston, Texas 77002
Mr. David J. Beck
Mr. Alistair B. Dawson
Beck, Redden & Secrest, L.L.P.
One Houston Center
1221 McKinney St., Suite 4500
Houston, Texas 77010
Mr. Melvyn L. Douglas
Melvyn L. Douglas P.C.
5500 Preston Road, Suite 393
Dallas, Texas 75205-2676
Mr. Charles A. Sharman
Nine Greenway Plaza, Suite 3040
Houston, Texas 77046
Re: Case No. 2006-01984; MOSH Holding, L.P. v. Pioneer Natural Resources Company, Pioneer Natural Resources USA, Inc., Woodside Energy (USA) Inc., and JPMorgan Chase Bank, N.A., as Trustee of the Mesa Offshore Trust; In the 334th Judicial District Court of Harris County, Texas
Settlement Agreement and Release executed on or about December 3, 2007
Dear Counsel:
This letter agreement is an amendment and modification to the Settlement Agreement and Release (the Agreement) by and among JPMorgan Chase Bank, N.A. individually and as Trustee of the Mesa Offshore Trust, MOSH Holding, L.P., Dagger-Spine Hedgehog Corporation, and the Wiegand Group. Unless otherwise defined, all capitalized terms used herein shall have the meaning stated in the Agreement. The parties agree that these modifications are necessary and proper because the Court scheduled the hearing on the parties Joint Motion for Approval of Settlement Agreement (Joint Motion) on January 16, 2008, which is a date different than the January 11, 2008 date anticipated in the Settlement Agreement.
The parties, by and through their undersigned counsel, agree to the following modifications to the Agreement:
1. The date in the first sentence of Section 1(a) is changed from January 14, 2008 to January 21, 2008 as the date JPMorgans resignation as Trustee of the Trust will become effective.
2. The date in the last sentence of Section 1(d) is changed from January 14, 2008 to January 21, 2008 as the date on which the principal outstanding balance on the Note shall not exceed $2.2 million.
3. Paragraph 3 in the proposed order referenced in Sections 2(d) and (e) shall provide The Trustees resignation is hereby accepted by the Court effective 12:01 a.m. on January 21, 2008.
The parties acknowledge that while this letter agreement does not materially change the Agreement, the modifications to the Agreement are subject to Section 9(i) of the Agreement, which requires the parties hereto to petition the Court with notice to counsel for the parties to the Litigation of any modification of the terms of procedures required under the Agreement. To comply with Section 9(i), the parties agree to file a supplement to their Motion for Approval of Settlement Agreement that identifies modifications contained herein and seeks the Courts review and approval of the modification. The Supplement to the Joint Motion shall include a revised proposed Order and shall be served on all parties to the Litigation.
The undersigned counsel have authority to enter into this letter agreement on behalf of their respective clients.
| Very truly yours, |
|
|
|
|
| ANDREWS KURTH LLP |
|
|
|
|
| /s/ Craig L. Stahl |
|
| Craig L. Stahl |
|
CLS/dp
2
APPROVED : |
| |||||||
|
| |||||||
|
| |||||||
By: | /s/ Craig L. Stahl |
| By: | /s/ John H. Kim |
| |||
| Craig L. Stahl |
| John H. Kim | |||||
| Andrews Kurth LLP |
| The Kim Law Firm | |||||
| Waterway Plaza Two, Suite 200 |
| 4309 Yoakum Blvd, Suite 2000 | |||||
| 10001 Woodloch Forest Drive |
| Houston, Texas 77006 | |||||
| The Woodlands, Texas 77380 |
|
| |||||
|
| |||||||
ATTORNEYS FOR JPMORGAN CHASE | By: | /s/ Francis I. Spagnoletti |
| |||||
BANK, N.A., INDIVIDUALLY AND AS |
| Francis I. Spagnoletti | ||||||
TRUSTEE OF THE MESA OFFSHORE |
| Spagnoletti & Co. | ||||||
TRUST |
| 401 Louisiana, 8th Floor | ||||||
|
| Houston, Texas 77002 | ||||||
|
|
| ||||||
| ATTORNEYS FOR: MOSH Holding, L.P., Keith A. Wiegand, Ronnie McGlothlin, Gordon W. Bader, Roger R. Bean, Jennifer J. Bean, Tracey M. Stump, Scott W. Bean, James Blau, Larry W. Bradley, Richard Brown, Scott Curran, Ron Davis, Mark Dittus, John C. Easton, Jamie Arnold, John Easton Schwab Brokerage, John Easton Schwab Roth, John Easton Schwab IRA, John Easton Scottrade Brokerage, John Easton Trust, Jamie Arnold Schwab IRA, Vicki Easton Schwab IRA, James Figielski, James Figielski Pension Plan, Ami Schecter, Ami Schecter Roth IRA, Kathleen Friend, Patricia L. Hendrix, Ben Hoos, Matt Hoos, Philip Hoos, John W. Hovanec, Nicole M. Kimball, Matthew J. King, Darrell M. Leis, J.D. Maddox, Roy G. Maddox, John McCall, Katrina McGlothlin, Mary R. McNamara, Michael E. McNamara, Monika Meier, Mallory Mikkelsen, Dean P. Miles, Elizabeth A. Miles-Cunningham, Lori Miles, Robert M. Miles, Sharon A. Miles, William Kevin Miles, Gara Sue Pelcher, Jeffrey T. Pelcher, The Pelcher Company Keogh Plan, Jeffrey Thomas Pelcher Custodial for Nathan Allen Pelcher Roth IRA, Gara Pelcher Ten Com, Jeffrey T. Pelcher Custodial for Derrick T. Pelcher, Jeffrey T. Pelcher Custodial for Nathan A. Pelcher, Adriene Rohleder, John Selep, John M. Speight, Gordon A. Stamper, Jessica Stamper, Armin Sternberg, Robert Todd, T.D. Tommey, Lyle Wagman, Barbara Wiedemann, Knut Wiedemann, Nichole Wiedemann, Jerry L. Wolf, and Galen R. Young | |||||||
By: | /s/ Robert L. Ketchand |
| ||||||
| Robert L. Ketchand | |||||||
| Boyer & Ketchand, P.C. | |||||||
| Nine Greenway Plaza, Suite 3100 | |||||||
| Houston, Texas 77046 | |||||||
| ||||||||
ATTORNEYS FOR MOSH HOLDING, L.P. | ||||||||
AND DAGGER-SPINE HEDGEHOG | ||||||||
CORPORATION | ||||||||
| ||||||||
| ||||||||
By: | /s/ Melvyn L. Douglas |
| ||||||
| Melvyn L. Douglas | |||||||
| Melvyn L. Douglas P.C. | |||||||
| 5500 Preston Road, Suite 393 | |||||||
| Dallas, Texas ###-###-#### | |||||||
| ||||||||
ATTORNEY FOR DAGGER-SPINE | ||||||||
HEDGEHOG CORPORATION | ||||||||
| ||||||||
| ||||||||
By: | /s/ Charles A. Sharman |
| ||||||
| Charles A. Sharman | |||||||
| Nine Greenway Plaza, Suite 3040 | |||||||
| Houston, Texas 77046 | |||||||
3