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 for his account, 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. For further clarity, the requirements of the Section 6.5 shall not preclude a company that employs the Executive subsequent to the termination of the Executive’s employment with the Company from acquiring, directly or indirectly, any present or future interest in any mining claims or properties or mineral interests wherever situated for the account of such company.

Property Interests. If the Executive’s 's employment with the Company is terminated, and within three years of such termination, the Executive acquires for his account, directly or indirectly, 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. For further clarity, the requirements of the Section 6.5 shall not preclude a company that employs the Executive subsequent to the termination of the Executive’s employment with the Company from acquiring, directly or indirectly, any present or future interest in any mining claims or properties or mineral interests wherever situated for the account of such company.