Common use of Long-Term Incentive Program Clause in Contracts

Long-Term Incentive Program. “LTIP”) Prior to the execution of this Agreement, the Executive was provided with an initial stock option grant of 200,000 shares of the common stock of Gran Tierra and 20,000 restricted stock units, in accordance with the terms and conditions of Gran Tierra’s 2007 Equity Incentive Plan (the “Plan”). The Executive will be eligible to participate in the Plan and in all applicable future stock option plans and/or incentive award plans as approved by the Board. In the event that the Executive’s employment is terminated for any reason, the Executive’s equity in the Company as well as any option grants (vested and non-vested options) in the Company, shall be governed by the terms and conditions of the Plan, without regard to any termination notice, payment in lieu of notice, or combination thereof that may be required pursuant to this Agreement or the common law. ARTICLE 7

Long-Term Incentive Program. “LTIP”) Prior to the execution of this Agreement, the Executive was provided with an initial stock option grant of 200,000 600,000 shares of the common stock of Gran Tierra and 20,000 95,000 restricted stock units, in accordance with the terms and conditions of Gran Tierra’s 2007 Equity Incentive Plan (the “Plan”). The Executive will be eligible to participate in the Plan and in all applicable future stock option plans and/or incentive award plans as approved by the Board. In the event that the Executive’s employment is terminated for any reason, the Executive’s equity in the Company as well as any option grants (vested and non-vested options) in the Company, shall be governed by the terms and conditions of the Plan, without regard to any termination notice, payment in lieu of notice, or combination thereof that may be required pursuant to this Agreement or the common law. ARTICLE 7

Long-Term Incentive Program. (“LTIP”) Prior to the execution of this Agreement, the Executive was provided with an initial stock option grant of 200,000 350,000 shares of the common stock of Gran Tierra and 20,000 60,000 restricted stock units, in accordance with the terms and conditions of Gran Tierra’s 2007 Equity Incentive Plan (the “Plan”). The Executive will be eligible to participate in the Plan and in all applicable future stock option plans and/or incentive award plans as approved by the Board. In the event that the Executive’s employment is terminated for any reason, the Executive’s equity in the Company as well as any option grants (vested and non-vested options) in the Company, shall be governed by the terms and conditions of the Plan, without regard to any termination notice, payment in lieu of notice, or combination thereof that may be required pursuant to this Agreement or the common law. ARTICLE 7.