0001144204-08-068777 Sample Contracts

DIRECTOR’S SETTLEMENT AGREEMENT
S Settlement Agreement • December 11th, 2008 • Chancellor Group Inc/ • Crude petroleum & natural gas • Texas

DIRECTOR’S SETTLEMENT AGREEMENT, dated as of the 9th day of December, 2008 (“Agreement”), by and between Chancellor Group, Inc., a Nevada corporation, with offices at 216 South Price Road, Pampa, TX 79065 (“Chancellor ”), and Peter Harris, of 162/299 Queen St., Melbourne, Victoria 3000 Australia ("Peter Harris”), Chancellor and Peter Harris are sometimes referred to herein as the “Parties”, or individually as a “Party”.

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DIRECTOR’S SETTLEMENT AGREEMENT
S Settlement Agreement • December 11th, 2008 • Chancellor Group Inc/ • Crude petroleum & natural gas • Texas

DIRECTOR’S SETTLEMENT AGREEMENT, dated as of the 9th day of December, 2008 (“Agreement”), by and between Chancellor Group, Inc., a Nevada corporation, with offices at 216 South Price Road, Pampa, TX 79065 (“Chancellor ”), and John C. Y. Lee, of 2/60 Hartwood Street, Kew East, Victoria 3102 Australia ("John Lee”), Chancellor and John Lee are sometimes referred to herein as the “Parties”, or individually as a “Party”.

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