Common use of Employee Undertaking Clause in Contracts

Employee Undertaking. Employee will not hold, accept or otherwise acquire and position with another entity, as a shareholder, partner, consultant, officer or director, which such position imposes on him, or may impose upon him in the future, a duty which could result in a conflict of interest arising between Employee and the Company respecting any aspect of mineral exploration, including, without limitation, acquisition or divestiture of properties, access to financing, and personnel, except that Employee shall Be permitted to continue with certain consulting activities presently being provided to Staccato Resources Inc., Great American Minerals, Golden Chalice and Tone Resources, Ltd. (and any successor, including U.S. Gold Inc.) and to other companies, not to exceed in the aggregate twenty-five (25) days in any calendar year, and provided that the activities are non-competitive with the Company and approved in advance by the CEO and the Company’s Board in writing.