Amendment to Executive Employment Agreement between Gran Tierra Energy Brasil Ltda. and Julio Moreira
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Summary
This amendment updates the Executive Employment Agreement between Gran Tierra Energy Brasil Ltda. and Julio Moreira. The company agrees to increase the maximum annual reimbursement for golf club membership and maintenance fees from R$ 13,200 to R$ 17,000. All other terms of the original agreement remain unchanged. The amendment is effective upon acceptance by Julio Moreira and is confirmed by signatures from both parties.
EX-10.7 3 gte-20130331xex107.htm EXHIBIT 10.7 GTE - 2013.03.31 - EX 10.7
Exhibit 10.7
Gran Tierra Energy Brasil Ltda.
Av. das Américas, 3500 – Ed. Londres - salas 515 e 516 |
Barra da Tijuca, Rio de Janeiro Brasil CEP: 22.640-102 |
Attention Julio Moreira February 21, 2013
Re: Executive Employment Agreement between you and Gran Tierra Energy Brasil Ltda. (“GTB”), a Brazilian company, an affiliate company of Solana Resources Ltd. (“Solana”), and Gran Tierra Energy Inc., an Alberta, Canada corporation (“Gran Tierra”).
Dear Julio:
The Compensation Committee of the Board and Board of Directors have approved the increase to the annual maximum membership cost of a golf club and to monthly club maintenance fees.
As a result, we are pleased to propose that the following sentence in “Perquisites and Expenses” set out in Article 8 of the Executive Employment Agreement be amended such that it be changed from “GTB will reimburse the Executive for the membership cost of a Golf Club and to monthly club maintenance fees to a maximum of R$ 13,200/annum” to “GTB will reimburse the Executive for the membership cost of a Golf Club and to monthly club maintenance fees to a maximum of R$ 17,000/annum”.
Sincerely,
Gran Tierra Energy Inc.
/s/ Dana Coffield
Dana Coffield
I hereby accept and agree to the foregoing amendment to the Executive Employment Agreement:
Signature: /s/ Julio Moreira
Date: February 21, 2013
