Exhibit 10.1 The St. Lawrence Seaway Corporation 55 South Avenue Indianapolis, IN 46204-1774 (317) 639-5292 November 13, 2006 Mr. Jack C. Brown 55 South State Avenue Indianapolis, IN 46204 Dear Jack: In consideration of your continued service as a director of St. Lawrence Seaway Corporation, an Indiana corporation (the "Company"), the Company hereby contractually agrees to provide you with the indemnification rights currently provided by the Company to its directors, as described in the Company's articles and bylaws, which are incorporated herein by reference. Notwithstanding any future amendments to the Company's articles and bylaws, the Company hereby agrees to continue to provide you with such indemnification rights so long as you serve as a director of the Company, and after such service is completed, for so long as you are exposed to potential liability by reason of your service as a director of the Company. The rights granted to you by the Company in this agreement shall not be deemed exclusive of, or in limitation of, any rights to which you may be entitled under applicable law, the Company articles and bylaws, or otherwise. If this letter confirms your understanding of our agreement, please execute the enclosed counterpart of this letter and return the executed counterpart to Company counsel. Very truly yours, ST. LAWRENCE SEAWAY CORPORATION By:/s/ Daniel L. Nir -------------------------------------------------- Daniel L. Nir, Its President and Treasurer Accepted and agreed to this 13th day of November, 2006 ---- -------------- /s/ Jack C. Brown - ------------------------------------------------------ Signature Jack C. Brown - ------------------------------------------------------ Print Name
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10QSB Filing
Carbon Energy (CRBO) 10QSB2007 Q2 Quarterly report (small business)
Filed: 14 Nov 06, 12:00am