5 unchanged sentences
Elaina Rodgers, as Trust Officer of the Trustee, has concluded that the disclosure controls and procedures of the Trust are effective.
−Removed: Due to the contractual arrangements of (i) the trust agreement and (ii) the conveyance of the net profits interest, the trustee relies on (A) information provided by VOC Brazos, including historical operating data, plans for future operating and capital expenditures, reserve information and information relating to projected production, and (B) conclusions and reports regarding reserves by the trust’s independent reserve engineers.
+Added: Due to the contractual arrangements of (i) the Trust Agreement and (ii) the Conveyance, the Trustee relies on (A) information provided by VOC Brazos, including historical operating data, plans for future operating and capital expenditures, reserve information and information relating to projected production, and (B) conclusions and reports regarding reserves by the Trust’s independent reserve engineers.
See “Item 1A.
10 unchanged sentences
Other Information.
+Added: Rule 10b5-1 Trading Plans.
+Added: During the three months ended December 31, 2023, no officer or employee of the Trustee who performs policy-making functions for the Trust adopted, modified, or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement, as such terms are defined in Item 408(a) of Regulation S-K.
Disclosures Regarding Foreign Jurisdictions that Prevent Inspections.
8 unchanged sentences
The Trust does not have a principal executive officer, principal financial officer, principal accounting officer or controller and, therefore, has not adopted a code of ethics applicable to such persons.
−Removed: However, employees of the trustee must comply with the bank’s code of ethics.
+Added: However, employees of the Trustee must comply with the code of ethics of The Bank of New York Mellon Trust Company, N.A.
Executive Compensation.
31 unchanged sentences
The annual fee is payable in equal quarterly installments and increases by 4% each year.
−Removed: For 2020, 2021 and 2022, $104,690 (representing four quarters), $136,620 (representing five quarters) and $114,330 (representing four quarters), respectively, was paid to VOC Brazos as administrative fees.
+Added: For 2021, 2022 and 2023, $136,620 (representing five quarters), $114,330 (representing four quarters) and $118,902 (representing four quarters), respectively, was paid to VOC Brazos as administrative fees.
The administrative services agreement will terminate upon the termination of the net profits interest unless earlier terminated by mutual agreement of the Trustee and VOC Brazos.
20 unchanged sentences
Exhibit and Financial Statement Schedules
−Removed: Financial Statements
+Added: (a)(1) Financial Statements
The following financial statements are set forth under Part II, Item 8 of this Form 10-K on the pages indicated:
5 unchanged sentences
Notes to Financial Statements
+Added: (a)(2) Schedules
Schedules have been omitted because they are not required, not applicable or the information required has been included elsewhere herein.
+Added: (a)(3) Exhibits
Certificate of Trust of VOC Energy Trust.
(Incorporated herein by reference to Exhibit 3.4 to the Registration Statement on Form S-1, filed on December 30, 2010 (Registration No.
−Removed: Amended and Restated Trust Agreement of VOC Energy Trust, dated May 10, 2011, among VOC Brazos Energy Partners, L.P., The Bank of New York Mellon Trust Company, N.A., as Trustee of VOC Energy Trust, and Wilmington Trust Company, as Delaware Trustee of VOC Energy Trust.
−Removed: (Incorporated herein by reference to Exhibit 3.1 to our Current Report on Form 8-K filed on May 10, 2011 (File No.
+Added: Amended and Restated Trust Agreement of VOC Energy Trust, dated as of May 10, 2011, among VOC Brazos Energy Partners, L.P., The Bank of New York Mellon Trust Company, N.A., as Trustee of VOC Energy Trust, and Wilmington Trust Company, as Delaware Trustee of VOC Energy Trust.
+Added: (Incorporated herein by reference to Exhibit 3.1 to the Trust’s Current Report on Form 8-K filed on May 10, 2011 (File No.
Registration Rights Agreement, dated as of May 10, 2011, by and between VOC Partners, LLC and VOC Energy Trust.
−Removed: (Incorporated herein by reference to Exhibit 4.1 to our Current Report on Form 8-K filed on May 10, 2011 (File No.
−Removed: Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (Incorporated herein by reference to Exhibit 4.2 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (File No.
−Removed: Conveyance of Term Net Profits Interest and Assignment of Pre-Effective Time Payment, dated May 10, 2011, from VOC Brazos Energy Partners, L.P.
+Added: (Incorporated herein by reference to Exhibit 4.1 to the Trust’s Current Report on Form 8-K filed on May 10, 2011 (File No.
+Added: Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (Incorporated herein by reference to Exhibit 4.2 to the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019 (File No.
+Added: Conveyance of Term Net Profits Interest and Assignment of Pre-Effective Time Payment, dated as of May 10, 2011, from VOC Brazos Energy Partners, L.P.
and VOC Kansas Energy Partners, LLC, to The Bank of New York Mellon Trust Company, N.A.
in its capacity as Trustee of VOC Energy Trust.
−Removed: (Incorporated herein by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on May 10, 2011 (File No.
+Added: (Incorporated herein by reference to Exhibit 10.1 to the Trust’s Current Report on Form 8-K filed on May 10, 2011 (File No.
Administrative Services Agreement, dated May 10, 2011, by and between VOC Brazos Energy Partners, L.P.
and The Bank of New York Mellon Trust Company, N.A., in its capacity as Trustee of VOC Energy Trust.
−Removed: (Incorporated herein by reference to Exhibit 10.2 to our Current Report on Form 8-K filed on May 10, 2011 (File No.
+Added: (Incorporated herein by reference to Exhibit 10.2 to the Trust’s Current Report on Form 8-K filed on May 10, 2011 (File No.
Certification filed pursuant to Section 302 of the Sarbanes Oxley Act of 2002
1 unchanged sentence
TABLE OF CONTENTS
+Added: VOC Energy Trust Clawback Policy
Report of Cawley, Gillespie & Associates, Inc., Petroleum Consultants
13 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.