TED R. MUNSELLE, Director, Independent, since February 2004
Mr. Munselle has been Vice President and Chief Financial Officer of Landmark Nurseries, Inc. since October 1998. On
February 17, 2012, he was appointed as a member of the Board of Directors for Spindletop Oil & Gas Company and as
Chairman of their Audit Committee. Spindletop’s stock is traded on the Over-the-Counter (OTC) market. Mr. Munselle has
been a Director of the Company since February 2004. He has also served as Director of TCI since February 2004 and Director
of IOR since May 2009. Mr. Munselle is qualified as an Audit Committee financial expert within the meaning of SEC
regulations and the Board of Directors has determined that he has accounting and related financial management expertise within
the meaning of the listing standards of the NYSE. Mr. Munselle is a Certified Public Accountant.