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Donald L. Fryhover was appointed Senior Vice President of ASI Energy, a division of the Company, on April 24, 2006. Mr. Fryhover’s base salary is $135,000 per annum, and he is eligible to participate in an incentive reward program, which includes a 1% overriding royalty interest that is proportionately reduced to the Company’s net interest in all oil and gas deals. On his employment date, he was granted stock options for the purchase of up to 30,000 shares of our Common Stock at an exercise price of $1.31 per share, the fair market value on the date of his employment. In the event of a termination resulting from a change in control, Mr. Fryhover will continue to receive his base salary for a period of six months.
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