Attached files
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Exhibit 10.2
Amendment Agreement
between
Mobil Erdgas-Erdol GmbH, Caffamacherreihe 5, Hamburg
(hereinafter "MEEG" or "Company")
and
North European Oil Royalty Trust, Red Bank, New Jersey 07701, USA
(hereinafter "NEORT" or "Royalty Creditor")
Preamble
On 05/15/1934, the respective legal predecessors of MEEG and NEORT concluded
a contract on the payment of royalties on the production of certain natural
resources by MEEG. This contract has since been changed by amendments dated
12/08/1937, 02/09 and 03/17/1977, 09/08 and 09/14/1992, 03/06 and 03/30/1979
as well as 10/29 and 11/05/2009.
Below, the parties agree on the following, thereby amending the respective
existing regulation:
1. For the royalties from the contractual area, a change from the gas
prices ex field used as a calculation basis to the respective public
(staatlich) assessment base (= ex field-price) plus 1% is agreed.
2. The aforementioned changes will be carried out starting with the
accounting year 2016.
3. For the year 2015 only, the change from the gas prices ex field used
as a calculation basis to the public (staatlich) assessment base for
gas from the contractual area will be carried out with a surcharge
of 2%.
4. From the accounting year 2015 onwards, the audit concerning the gas
prices used as a basis for the determination of the proceeds will be
limited to a comparison with the public (staatlich) ex field-prices
for gas (i.e. discontinuance of the extensive price reviews).
Apart from that, the contracts remain unchanged.
Date: August 26, 2016 Date: August 17, 2016
NEORT: /s/ Robert P. Adelman Mobil Erdgas-Erdol GmbH: /s/ Dr. Thomas Hoechel
/s/ Ronny A. Hauck
