Common use of Employment and Term of Employment Clause in Contracts

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration for a term (the "TERM OF EMPLOYMENT") beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration - Human Resources and Administration for a term (the "TERM OF EMPLOYMENT") beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company Company, as Vice President of Exploration President, Pharmaceutical Development and Operations for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on the date first set forth above (the "Effective Date Date") and ending on the Expiration Date (defined below). As used hereinin this Agreement, "EXPIRATION DATEExpiration Date" means the third first anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) 10 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 5 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 5 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company Company, as Vice President of Exploration Controller and Secretary for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on the date first set forth above (the "Effective Date Date") and ending on the Expiration Date (defined below). As used hereinin this Agreement, "EXPIRATION DATEExpiration Date" means the third first anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) 10 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 5 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 5 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Senior Vice President of Exploration Administration for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 9 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 9 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Senior Vice President of Exploration & Chief Financial Officer for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration President, Project Development for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on the Effective Date (defined below) and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATEEffective Date" means the closing date of the offering of shares of Common Stock of the Company registered under the Securities Act of 1933 (as amended) pursuant to a Registration Statement on Form S-1 (Reg. No. 333-4437). As used in this Agreement, "Expiration Date" means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) 60 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Senior Vice President of Exploration and General Counsel for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Senior Vice President of Exploration and General Manager-Onshore Division for a term (the "TERM OF EMPLOYMENT") beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Senior Vice President of Exploration President-Land for a term (the "TERM OF EMPLOYMENT") beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Senior Vice President of Exploration and Chief Financial Officer for a term (the "TERM OF EMPLOYMENT") beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Executive Vice President of Exploration and Chief Operating Officer for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 9 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 9 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company Company, as Vice President of Exploration President, Preclinical Research and Development for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on the date first set forth above (the "Effective Date Date") and ending on the Expiration Date (defined below). As used hereinin this Agreement, "EXPIRATION DATEExpiration Date" means the third first anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) 10 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 5 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 5 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration and Chief Executive Officer for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on the Effective Date and ending on the Expiration Date (defined below). As used hereinin this Agreement, "EXPIRATION DATEExpiration Date" means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date Date, shall be automatically extended one additional year unless, not less than ninety (90) 90 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Senior Vice President of Exploration and Chief Financial Officer for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 9 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 9 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration [ ] for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 9 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 9 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration and General Manager Offshore for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company Company, as Vice President of Exploration Medical Affairs for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on the date first set forth above (the "Effective Date Date") and ending on the Expiration Date (defined below). As used hereinin this Agreement, "EXPIRATION DATEExpiration Date" means the third first anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) 10 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 5 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 5 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve as Chief Executive Officer of the Company as Vice President of Exploration for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 9 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 9 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Senior Vice President of Exploration Corporate Development for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company Company, as Vice President Chairman of Exploration the Board and Chief Executive Officer for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on November 3, 1997 (the "Effective Date Date") and ending on the Expiration Date (defined below). As used hereinin this Agreement, "EXPIRATION DATEExpiration Date" means the third anniversary of the Effective Date, provided that on May 1, 1999 and on the first anniversary day of the Effective Date and on each subsequent anniversary of the Effective Date succeeding month (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date shall be automatically extended one additional year month unless, not less than ninety (90) 10 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 6 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 6 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration and General Manager Onshore for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company Company, as Vice President of Exploration Regulatory Affairs and Quality Assurance for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on the date first set forth above (the "Effective Date Date") and ending on the Expiration Date (defined below). As used hereinin this Agreement, "EXPIRATION DATEExpiration Date" means the third first anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) 10 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 5 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 5 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration and Chief Accounting Officer for a term (the "TERM OF EMPLOYMENT"“Term of Employment”) beginning on the Effective Date and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATE" “Expiration Date” means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATE"“Renewal Date”), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 9 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 9 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.

Employment and Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the Executive, and the Executive hereby agrees to serve the Company as Vice President of Exploration President, Geophysics for a term (the "TERM OF EMPLOYMENTTerm of Employment") beginning on the Effective Date (defined below) and ending on the Expiration Date (defined below). As used herein, "EXPIRATION DATEEffective Date" means May 1, 1998. As used in this Agreement, "Expiration Date" means the third anniversary of the Effective Date, provided that on the first anniversary of the Effective Date and on each subsequent anniversary of the Effective Date (such first anniversary date and each such subsequent anniversary date being referred to as a "RENEWAL DATERenewal Date"), the Expiration Date shall be automatically extended one additional year unless, not less than ninety (90) 60 days prior to the relevant Renewal Date, (i) either party shall have given written notice to the other that no such automatic extension shall occur after the date of such notice or (ii) either party shall have given a Notice of Termination to the other pursuant to Section 7 hereof. Notwithstanding the foregoing, if either party gives a valid Notice of Termination pursuant to Section 7 hereof, the Term of Employment shall not extend beyond the termination date specified in such Notice of Termination.