Common use of Compensation and Other Employee Benefits Clause in Contracts

Compensation and Other Employee Benefits. As compensation for his services under the terms of this Agreement: (a) the Executive shall be paid an annual salary of not less than $200,000, payable in accordance with the then current payroll policies of the Company. Such annual salary is herein referred to as the "Base Salary". The Base Salary shall be reviewed annually by the Board of Directors and shall be subject to increase in the sole discretion of the Board of Directors. (b) subject to the right of the Company to amend or terminate any employee and/or group or executive benefit plan, the Executive shall be entitled to receive the following employee benefits: (i) The Executive shall have the right to participate in all current or future employee and/or group benefit plans of the Company that are available to its salaried employees generally (including, without limitation, disability, accident, medical, life insurance, parking and hospitalization plans); (ii) The Executive shall have the right to participate in all current executive benefit plans of the Company, including but not limited to the Company's Key Employee Incentive Bonus Plan and Home-Stake Oil & Gas Company Profit Sharing 401(k) Plan, all in accordance with the Company's regular practices with respect to its executive officers; (iii) The Executive shall be entitled to reimbursement from the Company for reasonable out-of-pocket expenses incurred by him in the course of the performance of his duties hereunder; (iv) In order to promote the interests of the Company, the Executive shall be entitled to reimbursement from the Company for all monthly dues incurred by him in connection with his membership in Southern Hills Country Club; (v) The Executive shall have the right to participate in any Company oil, gas or mineral property acquisition in accordance with the Company's policy as it may exist from time to time regarding employee participation in such acquisitions; (vi) The Executive shall be entitled to such vacation, holidays and other paid or unpaid leaves of absence as are consistent with the Company's normal policies or as are otherwise approved by the Board of Directors; and (vii) The Executive shall be entitled to the use of an automobile with the costs thereof, including acquisition cost of up to $30,000, insurance, license tag and maintenance (excluding gas) to be borne by the Company. In the event the Executive's employment with the Company is terminated for any reason, he shall have the right to purchase the Company automobile he is then using for the lesser of its then book value after depreciation as shown on the books and records of the Company or its fair market value.

Compensation and Other Employee Benefits. Employee's compensation and benefits will be reviewed periodically and adjusted consistent with Employer's policies and practices with respect to its senior personnel. As compensation for his Employee's services under the terms of this Agreement: (a) the Executive The Employee shall be paid an annual a salary of not less than $200,000, payable in accordance with the then current payroll policies of amount specified on the Company. Such annual attached Schedule A (such salary is herein referred to as the "Base Salary". The Base Salary shall be reviewed annually by the Board of Directors and shall be subject to increase in the sole discretion of the Board of Directors) payable monthly, less applicable tax withholding, which covers all hours worked. (b) subject The Employee shall receive stock options of the Employer (or parent corporation of Employer, the "Parent") in the amount and at such time or times as may be specified from time to time by the Employer or Parent in their discretion. (c) The Employee may have the opportunity to earn additional compensation (the "Additional Compensation") in the amount and at such time or times as may be specified from time to time by the Employer or Parent in their discretion. The Base Salary and the Additional Compensation are collectively referred to as the "Total Compensation." (d) Subject to the right of the Company Employer to amend or terminate any employee and/or group or senior executive benefit planor bonus plan or program, and to the terms and conditions of such plans and programs, the Executive Employee shall be entitled to receive the following employee benefits: (i) The Executive Employee shall have the right to participate in all current or future such employee and/or group benefit plans of as are maintained by the Company that Employer and are available to its exempt salaried employees generally (including, without limitation, retirement, disability, accident, medical, dental, life insurance, parking insurance and hospitalization plans, to the extent such plans are provided); (ii) The Executive shall have the right to participate in all current executive benefit plans of the Company, including but not limited to the Company's Key Employee Incentive Bonus Plan and Home-Stake Oil & Gas Company Profit Sharing 401(k) Plan, all in accordance with the Company's regular practices with respect to its executive officers; (iii) The Executive shall be entitled to reimbursement from the Company Employer for reasonable out-of-pocket expenses incurred by him Employee in the course of the performance of his Employee's duties hereunder;, subject to the submission of reasonable documentation by the Employee and in accordance with the Employer's practices and policies for such reimbursements; and (iviii) In order to promote the interests of the Company, the Executive The Employee shall be entitled to reimbursement from the Company for all monthly dues incurred by him in connection with his membership in Southern Hills Country Club; (v) The Executive shall have the right to participate in any Company oil, gas or mineral property acquisition vacation days and holiday pay in accordance with the Company's policy as it may exist from time to time regarding employee participation in such acquisitions; (vi) The Executive shall be entitled to such vacation, holidays and other paid or unpaid leaves of absence as are consistent with the Company's normal policies or as are otherwise approved by the Board of Directors; and (vii) The Executive shall be entitled applicable to the use of an automobile with the costs thereof, including acquisition cost of up to $30,000, insurance, license tag and maintenance (excluding gas) to be borne by the Company. In the event the ExecutiveEmployer's employment with the Company is terminated for any reason, he shall have the right to purchase the Company automobile he is then using for the lesser of its then book value after depreciation as shown on the books and records of the Company or its fair market valuekey employees generally.

Compensation and Other Employee Benefits. Employee's compensation and benefits will be reviewed periodically and adjusted consistent with Employer's policies and practices with respect to its senior personnel. As compensation for his Employee's services under the terms of this Agreement: (a) the Executive The Employee shall be paid an annual a salary of not less than $200,000, payable in accordance with the then current payroll policies of amount specified on the Company. Such annual attached Schedule A (such salary is herein referred to as the "Base Salary". The Base Salary shall be reviewed annually by the Board of Directors and shall be subject to increase in the sole discretion of the Board of Directors) payable monthly, less applicable tax withholding, which covers all hours worked. (b) subject The Employee shall receive stock options of the Employer (or parent corporation of Employer, the "Parent") in the amount and at such time or times as may be specified from time to time by the Employer or Parent in their discretion. (c) The Employee may have the opportunity to earn additional compensation (the "Additional Compensation") in the amount and at such time or times as may be specified from time to time by the Employer in its sole discretion. The Base Salary and the Additional Compensation are collectively referred to as the "Total Compensation." (d) Subject to the right of the Company Employer to amend or terminate any employee and/or group or senior executive benefit planor bonus plan or program, and to the terms and conditions of such plans and programs, the Executive Employee shall be entitled to receive the following employee benefits: (i) The Executive Employee shall have the right to participate in all current or future such employee and/or group benefit plans of as are maintained by the Company that Employer and are available to its exempt salaried employees generally (including, without limitation, retirement, disability, accident, medical, dental, life insurance, parking insurance and hospitalization plans, to the extent such plans are provided); (ii) The Executive shall have the right to participate in all current executive benefit plans of the Company, including but not limited to the Company's Key Employee Incentive Bonus Plan and Home-Stake Oil & Gas Company Profit Sharing 401(k) Plan, all in accordance with the Company's regular practices with respect to its executive officers; (iii) The Executive shall be entitled to reimbursement from the Company Employer for reasonable out-of-pocket expenses incurred by him Employee in the course of the performance of his Employee's duties hereunder;, subject to the submission of reasonable documentation by the Employee and in accordance with the Employer's practices and policies for such reimbursements; and (iviii) In order to promote the interests of the Company, the Executive The Employee shall be entitled to reimbursement from the Company for all monthly dues incurred by him in connection with his membership in Southern Hills Country Club; (v) The Executive shall have the right to participate in any Company oil, gas or mineral property acquisition vacation days and holiday pay in accordance with the Company's policy as it may exist from time to time regarding employee participation in such acquisitions; (vi) The Executive shall be entitled to such vacation, holidays and other paid or unpaid leaves of absence as are consistent with the Company's normal policies or as are otherwise approved by the Board of Directors; and (vii) The Executive shall be entitled applicable to the use of an automobile with the costs thereof, including acquisition cost of up to $30,000, insurance, license tag and maintenance (excluding gas) to be borne by the Company. In the event the ExecutiveEmployer's employment with the Company is terminated for any reason, he shall have the right to purchase the Company automobile he is then using for the lesser of its then book value after depreciation as shown on the books and records of the Company or its fair market valuekey employees generally.

Compensation and Other Employee Benefits. As compensation for his services under the terms of this Agreement: (a) the Executive shall be paid an annual salary of not less than $200,000150,000, payable in accordance with the then current payroll policies of the Company. Such annual salary is herein referred to as the "Base Salary". The Base Salary shall be reviewed annually by the Board of Directors and shall be subject to increase in the sole discretion of the Board of Directors. (b) subject to the right of the Company to amend or terminate any employee and/or group or executive benefit plan, the Executive shall be entitled to receive the following employee benefits: (i) The Executive shall have the right to participate in all current or future employee and/or group benefit plans of the Company that are available to its salaried employees generally (including, without limitation, disability, accident, medical, life insurance, parking and hospitalization plans); (ii) The Executive shall have the right to participate in all current executive benefit plans of the Company, including but not limited to the Company's Key Employee Incentive Bonus Plan and The Home-Stake Oil & Gas Company Profit Sharing 401(k) Plan, all in accordance with the Company's regular practices with respect to its executive officers; (iii) The Executive shall be entitled to reimbursement from the Company for reasonable out-of-pocket expenses incurred by him in the course of the performance of his duties hereunder; (iv) In order to promote the interests of the Company, the Executive shall be entitled to reimbursement from the Company for all monthly dues incurred by him in connection with his membership in Southern Hills Country Club; (v) The Executive shall have the right to participate in any Company oil, gas or mineral property acquisition in accordance with the Company's policy as it may exist from time to time regarding employee participation in such acquisitions; (vi) The Executive shall be entitled to such vacation, holidays and other paid or unpaid leaves of absence as are consistent with the Company's normal policies or as are otherwise approved by the Board of Directors; and (vii) The Executive shall be entitled to the use of an automobile with the costs thereof, including acquisition cost of up to $30,000, insurance, license tag and maintenance (excluding gas) to be borne by the Company. In the event the Executive's employment with the Company is terminated for any reason, he shall have the right to purchase the Company automobile he is then using for the lesser of its then book value after depreciation as shown on the books and records of the Company or its fair market value.