Common use of Ending Clause in Contracts

Ending. 10.1 TransGlobe may end this Agreement and ▇▇▇▇▇▇▇’▇ employment at any time for just cause, without any notice and without any liability to TransGlobe. 10.2 TransGlobe may end this Agreement and ▇▇▇▇▇▇▇'▇ employment at any time without just cause by giving a written notice to ▇▇▇▇▇▇▇. Upon giving such notice TransGlobe will pay to ▇▇▇▇▇▇▇ a retiring allowance in an amount equal to 24 months of his then current monthly salary and benefits. (a) ▇▇▇▇▇▇▇ may end this Agreement and his employment, without further liability to TransGlobe, by giving 30 days written notice of resignation to the Board of Directors, which TransGlobe may waive in whole or in part. (b) If any person (as defined in the Securities Act (Alberta) (the “Act”) together with his or its “associates” (as defined in the Act) acquire “beneficial ownership” (as defined in the Act) of 20 per cent or more of the outstanding common shares of the Corporation, as evidenced by such person’s insider report filed with the Alberta Securities Commission or the Corporation’s register of members or such other reasonable evidence, other than a current insider of the Corporation (as defined in the Act) ▇▇▇▇▇▇▇ may, within 6 months after that event, elect to end this Agreement and his employment and TransGlobe will pay to ▇▇▇▇▇▇▇ a retiring allowance in an amount equal to 24 months of his then current salary and benefits. 10.4 If ▇▇▇▇▇▇▇ should die during the term of this Agreement TransGlobe will pay to his estate an amount equal to 6 months of his then current salary and benefits. 10.5 ▇▇▇▇▇▇▇ acknowledges that the arrangements described in this Section 10 are fair and reasonable and constitute TransGlobe’s sole obligation to provide notice of termination, severance pay or related compensation. 10.6 Regardless of how this Agreement and ▇▇▇▇▇▇▇’▇ employment is ended, Section 3 will remain in effect after it is ended.

Ending. 10.1 TransGlobe may end this Agreement and ▇▇▇▇▇▇▇▇’▇ employment at any time for just cause, without any notice and without any liability to TransGlobe. 10.2 TransGlobe may end this Agreement and ▇▇▇▇▇▇▇'▇’▇ employment at any time without just cause by giving a written notice to ▇▇▇▇▇▇▇▇. Upon giving such notice TransGlobe will pay to ▇▇▇▇▇▇▇▇ a retiring allowance in an amount equal to 24 months of his then current monthly salary and benefits. (a) ▇▇▇▇▇▇▇▇ may end this Agreement and his employment, without further liability to TransGlobe, by giving 30 days written notice of resignation to the Board of Directors, which TransGlobe may waive in whole or in part. (b) If any person (as defined in the Securities Act (Alberta) (the “Act”) together with his or its “associates” (as defined in the Act) acquire acquires “beneficial ownership” (as defined in the Act) of 20 per cent or more of the outstanding common shares of the Corporation, as evidenced by such person’s insider report filed with the Alberta Securities Commission or the Corporation’s register of members or such other reasonable evidence, other than a current insider of the Corporation (as defined in the Act) ▇▇▇▇▇▇▇▇ may, within 6 months after that event, elect to end this Agreement and his employment and TransGlobe will pay to ▇▇▇▇▇▇▇▇ a retiring allowance in an amount equal to 24 months of his then current salary and benefits. 10.4 If ▇▇▇▇▇▇▇▇ should die during the term of this Agreement TransGlobe will pay to his estate an amount equal to 6 months of his then current salary and benefits. 10.5 ▇▇▇▇▇▇▇▇ acknowledges that the arrangements described in this Section 10 are fair and reasonable and constitute TransGlobe’s sole obligation to provide notice of termination, severance pay or related compensation. 10.6 Regardless of how this Agreement and ▇▇▇▇▇▇▇▇’▇ employment is ended, Section 3 will remain in effect after it is ended.