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 kilometers of the external boundaries of any mineral property held by the Company during the time the Executive was employed by the Company, 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

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

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Property Interests. If the Executive's employment with the Company is terminated, and within three two 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 kilometers kilometres of the external boundaries of any mineral property held by the Company during the time the Executive was employed by the Company, 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

Samples: 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, 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 kilometers of the external boundaries of any mineral property held by the Company during the time the Executive was employed by the Company, 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

Samples: Employment Agreement (NovaCopper 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 kilometers miles of the external boundaries of any mineral property held by the Company during at the time the Executive Executive’s employment with the Company was employed by the Companyterminated, 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

Samples: Employment Agreement (Contango ORE, Inc.)

Property Interests. If the Executive's employment with the Company is terminated, and within three two 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 kilometers kilometres of the external boundaries of any mineral property held by the Company during the time the Executive was employed by the Company, 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

Samples: Employment Agreement (NovaCopper Inc.)

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Property Interests. If the Executive's employment with the Company is terminated, and within three two 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 kilometers of the external boundaries of any mineral property held by the Company during the time the Executive was employed by the Company, 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

Samples: Employment Agreement (Trilogy Metals Inc.)

Property Interests. If the Executive's employment with the Company is terminated, and within three two 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 the area of interest as identified in the NANA Agreement and within 10 kilometers of the external boundaries of any mineral property held by the Company during the time the Executive was employed by the Company, 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

Samples: Employment Agreement (Trilogy Metals Inc.)

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