On June 10, 2015 and after mutual agreement, Charles Costenbader, the Chief Operating Officer of Synthesis Energy Systems, Inc. was released by the company without cause effective June 30, 2015 pursuant to his employment agreement. His employment agreement with the Company dated September 3, 2013 was therefore terminated effective June 10, 2015. Mr. Costenbader intends to pursue other interests but will continue to be subject to the continued enforcement of the provisions relating to non-competition, non-solicitation, non-disparagement and confidentiality.