Common use of Short-Term Incentive Awards Clause in Contracts

Short-Term Incentive Awards. In his capacity as Vice President Exploration and Business Development of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(d). The intended target “STI Award” shall be up to 125% of Base Salary, and shall be tied directly to performance, based on criteria to be determined by the Compensation Committee at the date hereof (for the initial grant) and during the first fiscal quarter of each fiscal year, for all subsequent grants. The criteria applicable to the initial STI Award, and the form and timing of payment of the STI Award, are set forth on Exhibit A hereto, and the criteria applicable to subsequent STI Awards, and the form and timing of payment of subsequent STI Awards, will be set forth in awards adopted by the Compensation Committee during the first fiscal quarter of each fiscal year. All such awards shall be paid less applicable withholdings and deductions.

Short-Term Incentive Awards. In his capacity as Vice President Exploration and Business Development Executive Chairman of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(d). The intended target “STI Award” shall be up to 125200% of Base Salary, and shall be tied directly to performance, based on criteria to be determined by the Compensation Committee at the date hereof (for the initial grant) and during the first fiscal quarter of each fiscal year, for all subsequent grants. The criteria applicable to the initial STI Award, and the form and timing of payment of the STI Award, are set forth on Exhibit A hereto, and the criteria applicable to subsequent STI Awards, and the form and timing of payment of subsequent STI Awards, will be set forth in awards adopted by the Compensation Committee during the first fiscal quarter of each fiscal year. All such awards shall be paid less applicable withholdings and deductions.

Short-Term Incentive Awards. In his capacity as Vice President Exploration and Business Development of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(d). The intended target “STI Award” shall be up to 125200% of Base Salary, and shall be tied directly to performance, based on criteria to be determined by the Compensation Committee at the date hereof (for the initial grant) and during the first fiscal quarter of each fiscal year, for all subsequent grants. The criteria applicable to the initial STI Award, and the form and timing of payment of the STI Award, are set forth on Exhibit A hereto, and the criteria applicable to subsequent STI Awards, and the form and timing of payment of subsequent STI Awards, will be set forth in awards adopted by the Compensation Committee during the first fiscal quarter of each fiscal year. All such awards shall be paid less applicable withholdings and deductions.

Short-Term Incentive Awards. In his capacity as Vice President Exploration and Business Development ___________ of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(d). The intended target “STI Award” shall be up to 125_____% of Base Salary, and shall be tied directly to performance, based on criteria to be determined by the Compensation Committee at the date hereof (for the initial grant) and during the first fiscal quarter of each fiscal year, for all subsequent grants. The criteria applicable to the initial STI Award, and the form and timing of payment of the STI Award, are set forth on Exhibit A hereto, and the criteria applicable to subsequent STI Awards, and the form and timing of payment of subsequent STI Awards, will be set forth in awards adopted by the Compensation Committee during the first fiscal quarter of each fiscal year. All such awards shall be paid less applicable withholdings and deductions.

Short-Term Incentive Awards. In his capacity as Vice President Exploration and Business Development Chief Financial Officer of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(d). The intended target “STI Award” shall be up to 125100% of Base Salary, and shall be tied directly to performance, based on criteria to be determined by the Compensation Committee at the date hereof (for the initial grant) and during the first fiscal quarter of each fiscal year, for all subsequent grants. The criteria applicable to the initial STI Award, and the form and timing of payment of the STI Award, are set forth on Exhibit A hereto, and the criteria applicable to subsequent STI Awards, and the form and timing of payment of subsequent STI Awards, will be set forth in awards adopted by the Compensation Committee during the first fiscal quarter of each fiscal year. All such awards shall be paid less applicable withholdings and deductions.

Short-Term Incentive Awards. In his capacity as Vice President Exploration and Business Development Chief Executive Officer of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(d). The intended target “STI Award” shall be up to 125200% of Base Salary, and shall be tied directly to performance, based on criteria to be determined by the Compensation Committee at the date hereof (for the initial grant) and during the first fiscal quarter of each fiscal year, for all subsequent grants. The criteria applicable to the initial STI Award, and the form and timing of payment of the STI Award, are set forth on Exhibit A hereto, and the criteria applicable to subsequent STI Awards, and the form and timing of payment of subsequent STI Awards, will be set forth in awards adopted by the Compensation Committee during the first fiscal quarter of each fiscal year. All such awards shall be paid less applicable withholdings and deductions.

Short-Term Incentive Awards. In his capacity as Vice President Exploration and Business Development Chief Accounting Officer of the Company, Employee shall be eligible for an annual short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(d). The intended target “STI Award” shall be up to 125% of Base Salary, and shall be tied directly to performance, based on criteria to be determined by the Compensation Committee at the date hereof (for the initial grant) and during the first fiscal quarter of each fiscal year, for all subsequent grants. The criteria applicable to the initial STI Award, and the form and timing of payment of the STI Award, are set forth on Exhibit A hereto, and the criteria applicable to subsequent STI Awards, and the form and timing of payment of subsequent STI Awards, will be set forth in awards adopted by the Compensation Committee during the first fiscal quarter of each fiscal year. All such awards shall be paid less applicable withholdings and deductions.