Common use of Scope of Responsibilities Clause in Contracts

Scope of Responsibilities. As an Independent Director, subject to the terms of the immediately following paragraph, Director shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director will initially serve on the Company’s Audit and Compensation Committees. Director shall provide those services required of an Independent Director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of Nevada, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement shall control. In performing such activities, Director will devote only such time as he in his sole discretion deems necessary and appropriate. Director for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from Director’s pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's activities conducted apart from the business of the Company.

Scope of Responsibilities. As an Independent DirectorNon-Executive Chairman, subject to the terms of the immediately following paragraph, Director Xxxxxx shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director will initially serve on the Company’s Audit and Compensation Committees. Director Xxxxxx shall provide those services required of an Independent Director a non-executive director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of Nevada, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement shall control. In performing such activities, Director Xxxxxx will devote only such time as he in his sole discretion deems necessary and appropriate. Director Xxxxxx for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director Xxxxxx becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director Xxxxxx pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from Director’s Xxxxxx’x pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director Xxxxxx with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director Xxxxxx in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's Xxxxxx’x activities conducted apart from the business of the Company.

Scope of Responsibilities. As an Independent Director, subject to the terms of the immediately following paragraph, Director Poster shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director Poster will initially serve on the Company’s Audit and Compensation CommitteesCommittee. Director Poster shall provide those services required of an Independent Director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of Nevada, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement shall control. In performing such activities, Director Poster will devote only such time as he in his sole discretion deems necessary and appropriate. Director Poster for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director Poster becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director Poster pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from DirectorPoster’s pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director Poster with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director Poster in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's Poster’s activities conducted apart from the business of the Company.

Scope of Responsibilities. As an Independent Director, subject to the terms of the immediately following paragraph, Director shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director will initially serve on the Company’s Audit and Compensation Committees. Director shall provide those services required of an Independent Director a director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of NevadaNevada Revised Statutes, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement the governing document of the Company shall control. In performing such activities, Director will devote only such time as he in his sole discretion deems necessary and appropriate. Director for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from Director’s pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's ’s activities conducted apart from the business of the Company.

Scope of Responsibilities. As an Independent Director, subject to the terms of the immediately following paragraph, Director Xxxxxx shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director Xxxxxx will initially serve on the Company’s Audit Compensation Committee and Compensation Committeesas Board Secretary. Director Xxxxxx shall provide those services required of an Independent Director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of Nevada, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement shall control. In performing such activities, Director Xxxxxx will devote only such time as he in his sole discretion deems necessary and appropriate. Director Xxxxxx for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director Xxxxxx becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director Xxxxxx pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from Director’s Xxxxxx’x pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director Xxxxxx with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director Xxxxxx in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's Xxxxxx’x activities conducted apart from the business of the Company.

Scope of Responsibilities. As an Independent Director, subject to the terms of the immediately following paragraph, Director Mxxxxx shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director Mxxxxx will initially serve on the Company’s Audit Compensation Committee and Compensation Committeesas Board Secretary. Director Mxxxxx shall provide those services required of an Independent Director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of NevadaDelaware, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement shall control. In performing such activities, Director Mxxxxx will devote only such time as he in his sole discretion deems necessary and appropriate. Director Mxxxxx for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director Mxxxxx becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director Mxxxxx pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from Director’s Mxxxxx’x pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director Mxxxxx with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director Mxxxxx in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's Mxxxxx’x activities conducted apart from the business of the Company.

Scope of Responsibilities. As an Independent Director, subject to the terms of the immediately following paragraph, Director Mxxxxx shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director Mxxxxx will initially serve on the Company’s Audit Compensation Committee and Compensation Committeesas Board Secretary. Director Mxxxxx shall provide those services required of an Independent Director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of Nevada, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement shall control. In performing such activities, Director Mxxxxx will devote only such time as he in his sole discretion deems necessary and appropriate. Director Mxxxxx for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director Mxxxxx becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director Mxxxxx pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from Director’s Mxxxxx’x pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director Mxxxxx with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director Mxxxxx in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's Mxxxxx’x activities conducted apart from the business of the Company.

Scope of Responsibilities. As an Independent Director, subject to the terms of the immediately following paragraph, Director Xxxxxx shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director Xxxxxx will initially serve on the Company’s Audit and Compensation CommitteesCommittee. Director Xxxxxx shall provide those services required of an Independent Director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of Nevada, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement shall control. In performing such activities, Director Xxxxxx will devote only such time as he in his sole discretion deems necessary and appropriate. Director Xxxxxx for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director Xxxxxx becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director Xxxxxx pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from Director’s Xxxxxx’x pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director Xxxxxx with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director Xxxxxx in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's Xxxxxx’x activities conducted apart from the business of the Company.

Scope of Responsibilities. As an Independent Director, subject to the terms of the immediately following paragraph, Director shall be responsible for contributing to the development and implementation of the Company’s strategic plan, locating and reviewing prospective acquisition targets, overseeing the development plan of acquired properties, and providing input on the Company’s development plan. Director will initially serve on the Company’s Audit and Compensation Committees. Director shall provide those services required of an Independent Director under the Company’s articles of incorporation and bylaws, as both may be amended from time to time, and under the General Corporation Law of NevadaNevada Revised Statutes, the federal securities laws and other state and federal laws and regulations, as applicable; provided, however, in the event of a conflict or inconsistency between this Agreement and any governing document of the Company, this Agreement the governing document of the Company shall control. In performing such activities, Director will devote only such time as he in his sole discretion deems necessary and appropriate. Director for his own account and in collaboration with others is engaged in and will continue to be engaged in oil and gas exploration, development and production outside of the Company’s business. The Company expressly acknowledges and agrees that if Director becomes aware of a business opportunity, he shall have no affirmative duty to present or make such opportunity available to the Company. Furthermore, in the event Director pursues an opportunity for his own account or in collaboration with others, the Company shall not be entitled to any interest in or profits from such property or otherwise claim any right or damages resulting from Director’s pursuit of such opportunity. The relationship between the parties shall be that of independent contracting parties. The Board and the Company expressly acknowledge and agree that neither shall have the right to direct Director with respect to the means or manner in which he fulfills his obligations and responsibilities under this Agreement. The Board and the Company are solely interested in the results obtained by Director in connection with his performance of services required hereunder. Except as specifically provided in this Agreement, the Company hereby waives any conflict or potential conflict resulting from Director's ’s activities conducted apart from the business of the Company.