Here's what I know so far:
http://www.sec.gov/Archives/edgar/data/1221715/000114420413031783/v346084_ex99-1.htm
-- InterOil Corporation's proxy filing May 28 2013.
This is a direct quote from the near-top of page 21:
"We were permitted to terminate Mr. Mulacek's employment contract for "Cause". Cause includes wilful neglect or misconduct resulting in material damage to the Corporation, wilful and repeated refusal or failure to perform or wilful disregard of his duties, conviction of any felony, acts of fraud, embezzlement or misappropriation, conviction for discrimination against or harassment of any employee, or breach of the covenants in the agreement. Mr. Mulacek retired as an employee of InterOil effective 30 April 2013."
Also on page 21 at the bottom, a curious reference to director William Jasper:
"We are permitted to terminate Mr. Jasper's employment contract for "Cause". Cause includes conviction of an offence involving pecuniary dishonesty or sentencing to any period of imprisonment, acts of fraud or misappropriation, engagement in any material activity which directly competes with the business of InterOil or by failure to cure a breach of the agreement within a reasonable time.
"If Mr. Jasper’s employment is terminated for any reason, the Company must pay within 30 days of such termination, remuneration payable up to and including the date termination becomes effective, having regard to any applicable notice period, and any amount of accrued leave due in lieu of having taken that leave."
Regarding Christian Vinson (Mulacek's brother-in-law), this is a direct quote from the near-bottom of page D-1 pf the proxy circular:
"Mr. Vinson, an executive officer of InterOil, has indicated his intention to retire as an employee of the Corporation and is not re-nominated as a director at the Meeting."
And this on Vinson's proposed replacement from the bottom of page D-6:
"In light of Mr. Vinson’s proposed retirement and considering the expertise of the directors and the requirements of the Board, the Board commenced an informal search for a new director in 2013. The name of Sir Wilson Kamit as a potential director was provided by the Corporate Secretary to the Chairman and then to the Nominating and Governance Committee. Sir Wilson Kamit is a prominent Papua New Guinean with an economic and public service banking background within that country and internationally. Details of his background and experience were reviewed by the Nominating and Governance Committee, who met him. The Committee considered Sir Wilson Kamit’s background and experience to be ideal for a director of the Corporation and recommended his appointment to the Board."
I don't know exactly what to make of all this -- especially in light of the last two trading days. All interpretations welcome.