Question for Hession Watchers

[Gator]

In 2014 Dr. Hession became provisionally entitled to receive a Milestone Bonus of $2,760,000 in cash and $1,840,000 in RSUs in respect of the SPA Completion, the payment and grant of which were deferred pending the outcome of the arbitration proceedings in respect of PRL15. Those proceedings were resolved on February 10, 2015, after which this Milestone Bonus was paid and granted. In addition, on the announcement of any discovery by InterOil (jointly or in combination with other parties) of hydrocarbons within any exploration licence, which is estimated to contain at least 1 trillion cubic feet of hydrocarbon gas equivalent (“Tcfe”) (or oil equivalent), Dr. Hession would become entitled to an “exploration bonus” of $500,000 payable in RSUs. Such exploration bonus would be grossed up pro rata to the extent of a discovery in excess of 1 Tcfe but less than 2 Tcfes. If all Milestones that are expected to be achieved in 2015 are achieved, Dr. Hession would receive Milestone Bonuses equal to $1,035,000 in cash and $690,000 in RSUs