Common use of Property Interests Clause in Contracts

Property Interests. If the Executive’s employment with the Company is terminated, and within three years of such termination the Executive acquires directly or indirectly other than from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within 10 miles of the external boundaries of any mineral property held by the Company at the time the Executive’s employment with the Company was terminated, the Executive will offer the Company, in writing the right to acquire such interest in exchange for reimbursement of his direct and indirect acquisition costs. The Company shall have 30 days after receipt of such offer to accept the offer and 90 days after receipt of such offer to reimburse such costs.

Appears in 2 contracts

Sources: Employment Agreement (Contango Silver & Gold Inc.), Employment Agreement (Contango ORE, Inc.)

Property Interests. If the Executive’s 's employment with the Company is terminated, and within three years of such termination termination, the Executive acquires directly or indirectly other than from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within 10 miles kilometers of the external boundaries of any mineral property held by the Company at during the time the Executive’s employment with Executive was employed by the Company was terminatedCompany, the Executive will offer the Company, in writing the right to acquire such interest in exchange for reimbursement of his direct and indirect acquisition costs. The Company shall have 30 days after receipt of such offer to accept the offer and 90 days after receipt of such offer to reimburse such costs.

Appears in 2 contracts

Sources: Employment Agreement (Novagold Resources Inc), Employment Agreement (Novagold Resources Inc)

Property Interests. If the Executive’s employment with the Company is terminated, and within three two years of such termination termination, the Executive acquires directly or indirectly other than from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within 10 miles kilometers of the external boundaries of any mineral property held by the Company at during the time the Executive’s employment with Executive was employed by the Company was terminatedCompany, the Executive will offer the Company, in writing the right to acquire such interest in exchange for reimbursement of his direct and indirect acquisition costs. The Company shall have 30 days after receipt of such offer to accept the offer and 90 days after receipt of such offer to reimburse such costs.

Appears in 1 contract

Sources: Employment Agreement (NovaCopper Inc.)

Property Interests. If the Executive’s 's employment with the Company is terminated, and within three two years of such termination termination, the Executive acquires directly or indirectly other than from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within 10 miles kilometres of the external boundaries of any mineral property held by the Company at during the time the Executive’s employment with Executive was employed by the Company was terminatedCompany, the Executive will offer the Company, in writing the right to acquire such interest in exchange for reimbursement of his direct and indirect acquisition costs. The Company shall have 30 days after receipt of such offer to accept the offer and 90 30 days after receipt of such offer to reimburse such costs.

Appears in 1 contract

Sources: Employment Agreement (NovaCopper Inc.)

Property Interests. If the Executive’s 's employment with the Company is terminated, and within three two years of such termination termination, the Executive acquires directly or indirectly other than from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within the area of interest as identified in the NANA Agreement and within 10 miles kilometers of the external boundaries of any mineral property held by the Company at during the time the Executive’s employment with Executive was employed by the Company was terminatedCompany, the Executive will offer the Company, in writing the right to acquire such interest in exchange for reimbursement of his direct and indirect acquisition costs. The Company shall have 30 days after receipt of such offer to accept the offer and 90 days after receipt of such offer to reimburse such costs.

Appears in 1 contract

Sources: Employment Agreement (Trilogy Metals Inc.)

Property Interests. If the Executive’s employment with the Company is terminated, and within three years one year of such termination the Executive acquires directly or indirectly other than from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within 10 miles of the external boundaries of any mineral property held by the Company at the time the Executive’s employment with the Company was terminated, the Executive will offer the Company, in writing the right to acquire such interest in exchange for reimbursement of his direct and indirect acquisition costs. The Company shall have 30 days after receipt of such offer to accept the offer and 90 days after receipt of such offer to reimburse such costs.

Appears in 1 contract

Sources: Employment Agreement (Contango ORE, Inc.)

Property Interests. If the Executive’s 's employment with the Company is terminated, and within three two years of such termination termination, the Executive acquires directly or indirectly other than from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within 10 miles kilometers of the external boundaries of any mineral property held by the Company at during the time the Executive’s employment with Executive was employed by the Company was terminatedCompany, the Executive will offer the Company, in writing writing, the right to acquire such interest in exchange for reimbursement of his direct and indirect acquisition costs. The Company shall have 30 days after receipt of such offer to accept the offer and 90 30 days after receipt of such offer to reimburse such costs.

Appears in 1 contract

Sources: Employment Agreement (Trilogy Metals Inc.)

Property Interests. If the Executive’s 's employment with the Company is terminated, and within three two years of such termination termination, the Executive acquires directly or indirectly other than from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within 10 miles kilometres of the external boundaries of any mineral property held by the Company at during the time the Executive’s employment with Executive was employed by the Company was terminatedCompany, the Executive will offer the Company, in writing the right to acquire such interest in exchange for reimbursement of his her direct and indirect acquisition costs. The Company shall have 30 days after receipt of such offer to accept the offer and 90 days after receipt of such offer to reimburse such costs.

Appears in 1 contract

Sources: Employment Agreement (NovaCopper Inc.)