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                                                                    EXHIBIT 10.4

                              EMPLOYMENT AGREEMENT

      This Employment Agreement ("Agreement") executed by and between BOIS D'ARC
ENERGY, LLC, a Nevada limited liability company (the "Company") with principal
offices in Houston, Texas, and WAYNE L. LAUFER ("Employee").

      1.    Employment. The Company hereby agrees to employ Employee, and
Employee hereby agrees to render his service to the Company, in the capacity of
Chief Executive Officer of the Company, with such duties as may be assigned to
him from time to time by the Board of Managers or Board of Directors of the
Company (the "Board").

      2.    Term of Agreement. This Agreement shall be effective commencing on
July 16, 2004 (the effective date of this Agreement) and shall have a term of
three (3) years. This Agreement shall, as of its first anniversary, and on each
annual anniversary thereof, be extended automatically, without further action by
the Employee or the Company, for an additional one (1) year, so that there
shall, as of July 16 of each year, be three (3) years remaining in the term of
this Agreement (the "Employment Period"), subject to earlier termination as
hereinafter provided. This Agreement shall terminate upon the liquidation or
dissolution of the Company, and if the liquidation or dissolution is pursuant to
Section 17.7 of the Operating Agreement of the Company, then the parties shall
have no further obligations to each other, including, without limitation,
pursuant to Paragraph 14 of this Agreement (other than payment to the Employee
of accrued base salary through the date of termination, and as set forth in
Paragraph 8 of this Agreement).

      3.    Place of Employment. Unless otherwise agreed by the Company and
Employee, throughout the term of this Agreement, Employee's base of operations
shall be located in Houston, Texas; provided if Employee is located away from
the base of operations, the Company shall reimburse Employee for the reasonable
cost of such remote office and the travel back to the base of operations.

      4.    Base Compensation. Employee shall be compensated by the Company at a
minimum base rate of $30,000.00 per month, payable semi-monthly on the fifteenth
and final days of each month during the period of Employee's employment under
this Agreement, subject to such increases and additional payments as may be
determined from time to time by the Board in its sole discretion. Employee shall
also be entitled to participate in any Company discretionary bonus plan. Such
compensation shall be in addition to any group insurance, pension, profit
sharing, and other employee benefits, which are extended from time to time to
Employee (and Employee's spouse) in the discretion of the Board and for which
Employee is eligible. Subject to such rules and procedures as are from time to
time specified by the Company, the Company shall also reimburse Employee for all
reasonable expenses incurred by him on behalf of the Company.

      5.    Performance of Services. Employee shall devote substantially all of
his working time to the business of the Company; provided, however, Employee
shall be allowed to participate in non-operated working interest ownership in
oil and gas exploration and production

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activities onshore in the United States and in the state waters of the State of
Texas and shall be excused from performing any services for the Company
hereunder during periods of temporary incapacity and during vacations conforming
to the Company's standard vacation policy, without thereby in any way affecting
the compensation to which he is entitled hereunder.

      6.    Continuing Obligations. In order to induce the Company to enter into
this Agreement, the Employee hereby agrees that all documents, records,
techniques, business secrets and other information which have come into his
possession from time to time during his employment by the Company or which may
come into his possession during his employment hereunder, shall be deemed to be
confidential and proprietary to the Company and the Employee further agrees to
retain in confidence any confidential information known to him concerning the
Company and it's subsidiaries and their respective businesses so long as such
information is not publicly disclosed. In the event of a breach or threatened
breach by the Employee of the provisions of this Paragraph 6, the Company shall,
in addition to any other available remedies, be entitled to an injunction
restraining Employee from disclosing, in whole or in part, any such information
or from rendering any services to any person, firm or corporation to whom any of
such information may have been disclosed or is threatened to be disclosed.

      7.    Property of Company. All data, drawings, and other records and
written material prepared or compiled by Employee or furnished to Employee while
in the employ of the Company shall be the sole and exclusive property of the
Company, and none of such data, drawings or other records, or copies thereof,
shall be retained by Employee upon termination of his employment.
Notwithstanding the foregoing, Employee shall be under no obligation to return
public information.

      8.    Surviving Provisions. The provisions of Paragraphs 6 and 7 of this
Agreement shall continue to be binding upon Employee in accordance with their
terms, notwithstanding termination of Employee's employment hereunder for any
reason.

      9.    Death or Disability. The Employee's employment shall terminate
automatically upon the Employee's death during the Employment Period. If the
Company determines in good faith that the Disability of the Employee has
occurred during the Employment Period (pursuant to the definition of Disability
set forth below), it may give to the Employee written notice of its intention to
terminate the Employee's employment. In such event, the Employee's employment
with the Company shall terminate effective on the 30th day after receipt of such
notice by the Employee (the "Disability Effective Date"), provided that, within
the 30 days after such receipt, the Employee shall not have returned to
full-time performance of the Employee's duties. For purposes of this Agreement,
"Disability" shall mean the absence of the Employee from the Employee's duties
with the Company on a full-time basis for 150 consecutive business days as a
result of incapacity due to mental or physical illness which is determined to be
total and permanent by a physician selected by the Company or its insurers and
acceptable to the Employee or the Employee's legal representative.

      10.   Termination for Good Reason. The Employee's employment may be
terminated by the Employee for Good Reason. For purposes of this Agreement,
"Good Reason" shall mean:

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            (a)   the assignment to the Employee of any duties inconsistent in
                  any respect with the Employee's position (including status,
                  offices, titles and reporting requirements), authority, duties
                  or responsibilities as contemplated by Paragraph 1 of this
                  Agreement;

            (b)   any purported termination by the Company of the Employee's
                  employment otherwise than as expressly permitted by this
                  Agreement;

            (c)   any failure by the Company to comply with and satisfy
                  Paragraph 19(a) of this Agreement,

            (d)   the Company's requiring the Employee to reside in or be based
                  at any office or location other than as provided in Paragraph
                  3 of this Agreement, or

            (e)   following a Change in Control, the Company's requiring the
                  Employee to travel on Company business to a substantially
                  greater extent than during any period prior to the Change in
                  Control.

            Any good faith determination of "Good Reason" made by the Employee
shall be conclusive.

      11.   Termination for Cause. It is agreed and understood that the Company
cannot terminate the employment of the Employee under this Agreement except for
Cause, which shall mean:

            (a)   Should Employee for reasons other than illness or injury
                  absent himself from his duties without the consent of the
                  Company (which consent shall not be unreasonably withheld) for
                  more than twenty (20) consecutive business days;

            (b)   Should Employee be convicted of a felony involving moral
                  turpitude;

            (c)   Should Employee during the period of his employment by the
                  Company engage in any activity that would in the opinion of
                  the Board constitute a material conflict of interest with the
                  Company's oil and gas activities in the Gulf of Mexico;
                  provided that termination for Cause based on this subparagraph
                  (c) shall not be effective unless the Employee shall have
                  received written notice from the Board of such activity (which
                  notice shall also include a demand for the Employee to cease
                  the activity giving rise to the conflict of interest) thirty
                  (30) days prior to his termination and the Employee has failed
                  after receipt of such notice to cease or commence efforts to
                  cease all activities creating the conflict of interest; or

            (d)   Should Employee be grossly negligent in the performance of his
                  duties hereunder, or materially in breach of his duties and
                  obligations under this Agreement; provided that termination
                  for Cause based on this subparagraph (d) shall not be
                  effective unless the Employee shall have received written
                  notice from the Board (which notice shall include a
                  description of the

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                  reasons and circumstances giving rise to such notice) thirty
                  (30) days prior to his termination and the Employee has failed
                  after receipt of such notice to satisfactorily discharge the
                  performance of his duties hereunder or to comply with the
                  terms of this Agreement, as the case may be.

The Company may terminate Employee's employment for Cause under this Agreement
without advance notice, except as otherwise specifically provided for in
subparagraphs (c) and (d) above. Termination shall not affect any of the
Company's other rights and remedies.

      12.   Obligations of the Company upon Termination.

            (a)   Good Reason or Involuntary Termination Other Than for Cause.
                  If, during the Employment Period, the Company shall terminate
                  the Employee's employment other than for Cause or the Employee
                  shall terminate employment for Good Reason, the Company shall
                  pay to the Employee in a lump sum in cash within 30 days after
                  the date of termination the aggregate of the following
                  amounts:

                  (1)   the sum of (A) the Employee's annual base salary through
                        the date of termination to the extent not theretofore
                        paid, (B) the product of the annual bonus paid or
                        payable, including any bonus or portion thereof which
                        has been earned but deferred (and annualized for any
                        fiscal year consisting of less than twelve full months
                        or during which the Employee was employed for less than
                        twelve full months), for the most recently completed
                        fiscal year during the Employment Period (the "Fiscal
                        Year Bonus"), if any, and a fraction, the numerator of
                        which is the number of days in the current fiscal year
                        through the date of termination, and the denominator of
                        which is 365, and (C) any compensation previously
                        deferred by the Employee (together with any accrued
                        interest or earnings thereon) and any accrued vacation
                        pay, in each case to the extent not theretofore paid
                        (the sum of the amounts described in clauses (A), (B)
                        and (C) shall be hereinafter referred to as the "Accrued
                        Obligations"); and

                  (2)   an amount equal to 1.5 times the sum of the Employee's
                        annual base salary and the Fiscal Year Bonus; and for
                        eighteen (18) months after the Employee's date of
                        termination, the Company shall continue group medical
                        benefits to the Employee and/or the Employee's family at
                        least equal to those which would have been provided to
                        them in accordance with the plans if the Employee's
                        employment had not been terminated; provided, however,
                        that if the Employee becomes re-employed with another
                        employer and is eligible to receive group medical
                        benefits under another employer-provided plan, the
                        medical benefits described herein shall be secondary to
                        those provided under such other plan during such
                        applicable period of eligibility.

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                  All options to purchase shares or units in the Company
                  ("Company Equity") and restricted shares or units of
                  Company Equity shall vest in Employee's account upon the
                  effective date of Employee's termination under this
                  Paragraph. The Company will use reasonable efforts to
                  obtain the release of the Employee's Company Equity from
                  any trading restrictions other than (i) restrictions
                  imposed by contractual obligations with third parties or
                  (ii) restrictions under state or federal securities
                  laws; provided, however, that in no event will the
                  Company be required to register any unregistered shares
                  under the Securities Act.

                  In addition, the Company shall, at its sole expense as
                  incurred, provide the Employee with outplacement
                  services, the scope and provider of which shall be
                  selected by the Employee in his sole discretion, and the
                  Company shall assign to the Employee ownership of any
                  life insurance policies owned by the Company insuring
                  the Employee's life.

            (b)   Death. If the Employee's employment is terminated by
                  reason of the Employee's death during the Employment
                  Period, the Company shall pay to the Employee's legal
                  representatives the sum of (1) the Accrued Obligations,
                  and (2) an amount equal to six months' annualized total
                  compensation. Such amounts shall be paid in a lump sum
                  in cash within 30 days of the date of termination.

            (c)   Disability. If the Employee's employment is terminated
                  by reason of the Employee's Disability during the
                  Employment Period, this Agreement shall terminate
                  without further obligations to the Employee, other than
                  for payment of Accrued Obligations. During the term of
                  this Agreement, the Company shall provide, at the
                  Company's expense, disability insurance for Employee
                  equal to sixty percent (60%) of Employee's Base
                  Compensation until Employee attains the age of
                  sixty-five (65) years. Accrued Obligations shall be paid
                  to the Employee in a lump sum in cash within 30 days of
                  the date of termination. In addition, the Company shall
                  assign to the Employee ownership of any life insurance
                  policies owned by the Company insuring the Employee's
                  life.

            (d)   Cause or Voluntary Termination Other than for Good
                  Reason. If the Employee's employment shall be terminated
                  for Cause during the Employment Period, or if the
                  Employee voluntarily terminates his employment other
                  than for Good Reason, this Agreement shall terminate
                  without further obligations to the Employee other than
                  the obligation to pay to the Employee his annual base
                  salary through the date of termination and the amount of
                  any compensation previously deferred by the Employee.
                  Such amounts shall be paid to the Employee in a lump sum
                  in cash within 30 days of the date of termination. If
                  the Employee voluntarily terminates his employment other
                  than for Good Reason on or after attaining the age of
                  sixty-one (61), all options to purchase Company Equity
                  and restricted shares

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                  or units of Company Equity shall vest in Employee's account
                  upon the effective date of Employee's termination.

      13.   Change in Control. For the purposes of this Agreement, a "Change in
Control" shall mean:

            (a)   during any period of two consecutive years, individuals who at
                  the beginning of such period constituted the Board cease for
                  any reason to constitute a majority thereof (unless the
                  election, or nomination for election by holders of the Company
                  Equity, of such member of the Board was approved by a vote of
                  at least two-thirds (2/3) of the members of the Board then
                  still in office who either were members of the Board at the
                  beginning of such period or whose election or nomination for
                  election was previously so approved);

            (b)   a person, other than an "Excluded Person" as defined herein,
                  including a "group" as defined in Paragraph 13(d)(3) of the
                  Securities Exchange Act of 1934, becomes the beneficial owner
                  of shares of any class of the Company Equity having 25% or
                  more of the total number of votes that may be cast for the
                  election of members of the Board ; or

            (c)   consummation of a merger or other business combination of the
                  Company with or into another corporation pursuant to which the
                  Company does not survive or survives only as a subsidiary of
                  another entity, the sale or other disposition of all or
                  substantially all of the assets of the Company to another
                  person or entity, or any combination of the foregoing;

provided, however, that a Change in Control will not include (A) any Financing
Transaction (as defined in the Operating Agreement of the Company dated as of
July 16, 2004) and any transaction entered into in connection therewith, (B) any
reorganization, merger, consolidation, sale, lease, exchange or similar
transaction which involves solely the Company and one or more entities
wholly-owned, directly or indirectly, by the Company immediately prior to such
event, or (C) the consummation of any transaction or series of integrated
transactions immediately following which the record holders of the voting
Company Equity immediately prior to such transaction or series of transactions
continue to hold 50% or more of the voting securities of (i) any entity that
owns, directly or indirectly, the Company Equity, (ii) any entity with which the
Company has merged, or (iii) any entity that owns an entity with which the
Company has merged. For purposes hereof, (i) an "Excluded Person" shall mean an
original member of the Company or their affiliates, and (ii) a person will be
deemed to be the beneficial owner of any voting securities of the Company which
it would be considered to beneficially own under Securities and Exchange
Commission Rule 13d-3 (or any similar or superseding statute or rule from time
to time in effect).

      14.   Termination of Employment Following a Change of Control. Following a
Change of Control, if the Employee's employment is terminated for any reason
other than Cause, death or Disability, or if the Employee voluntarily terminates
his employment (a) within a period of six (6) months following the Change of
Control, or (b) for Good Reason, then the Company shall pay to the Employee the
Accrued Obligations and an amount equal to 2.99 times the sum

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of the Employee's annual base salary and the highest annual bonus paid to the
Employee during the Employee's tenure with the Company; and for eighteen (18)
months after the Employee's date of termination, the Company shall continue
group medical benefits to the Employee and/or the Employee's family at least
equal to those which would have been provided to them in accordance with the
plans if the Employee's employment had not been terminated; provided, however,
that if the Employee becomes re-employed with another employer and is eligible
to receive group medical benefits under another employer provided plan, the
medical benefits described herein shall be secondary to those provided under
such other plan during such applicable period of eligibility. In addition, the
Company shall, at its sole expense as incurred, provide the Employee with
outplacement services, the scope and provider of which shall be selected by the
Employee in his sole discretion, and the Company shall assign to the Employee
ownership of any life insurance policies owned by the Company insuring the
Employee's life

      15.   Certain Additional Payments by the Company.

            (a)   Anything in this Agreement to the contrary notwithstanding and
                  except as set forth below, in the event it shall be determined
                  that any payment or distribution by the Company to or for the
                  benefit of the Employee (whether paid or payable or
                  distributed or distributable pursuant to the terms of this
                  Agreement or otherwise, but determined without regard to any
                  additional payments required under this Paragraph 15) (a
                  "Payment") would be subject to the excise tax imposed by
                  Section 4999 of the Code or any interest or penalties are
                  incurred by the Employee with respect to such excise tax (such
                  excise tax, together with any such interest and penalties, are
                  hereinafter collectively referred to as the "Excise Tax"),
                  then the Employee shall be entitled to receive an additional
                  payment (a "Gross-Up Payment") in an amount such that after
                  payment by the Employee of all taxes (including any interest
                  or penalties imposed with respect to such taxes), including,
                  without limitation, any income taxes (and any interest and
                  penalties imposed with respect thereto) and Excise Tax imposed
                  upon the Gross-Up Payment, the Employee retains an amount of
                  the Gross-Up Payment equal to the Excise Tax imposed upon the
                  Payments.

            (b)   Subject to the provisions of Paragraph 15(c), all
                  determinations required to be made under this Paragraph 15,
                  including whether and when a Gross-Up Payment is required and
                  the amount of such Gross-Up Payment and the assumptions to be
                  utilized in arriving at such determination, shall be made by
                  Ernst & Young LLP or such other certified public accounting
                  firm as may be designated by the Employee (the "Accounting
                  Firm") which shall provide detailed supporting calculations
                  both to the Company and the Employee within 15 business days
                  of the receipt of notice from the Employee that there has been
                  a Payment, or such earlier time as is requested by the
                  Company. In the event that the Accounting Firm is serving as
                  accountant or auditor for the individual, entity or group
                  effecting the Change in Control, the Employee shall appoint
                  another nationally recognized accounting firm to make the
                  determinations required hereunder (which accounting firm shall
                  then be referred to as the Accounting Firm hereunder). All
                  fees and expenses of the

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                  Accounting Firm shall be borne solely by the Company. Any
                  Gross-Up Payment, as determined pursuant to this Paragraph 15
                  shall be paid by the Company to the Employee within five days
                  of the receipt of the Accounting Firm's determination. Any
                  determination by the Accounting Firm shall be binding upon the
                  Company and the Employee. As a result of the uncertainty in
                  the application of Section 4999 of the Code at the time of the
                  initial determination by the Accounting Firm hereunder, it is
                  possible that Gross-Up Payments which will not have been made
                  by the Company should have been made ("Underpayment"),
                  consistent with the calculations required to be made
                  hereunder. In the event that the Company exhausts its remedies
                  pursuant to Paragraph 15(c) and the Employee thereafter is
                  required to make a payment of any Excise Tax, the Accounting
                  Firm shall determine the amount of the Underpayment that has
                  occurred and any such Underpayment shall be promptly paid by
                  the Company to or for the benefit of the Employee.

            (c)   The Employee shall notify the Company in writing of any
                  claim by the Internal Revenue Service that, if successful,
                  would require the payment by the Company of the Gross-Up
                  Payment. Such notification shall be given as soon as
                  practicable but no later than ten business days after the
                  Employee is informed in writing of such claim and shall
                  apprise the Company of the nature of such claim and the date
                  on which such claim is requested to be paid. The Employee
                  shall not pay such claim prior to the expiration of the 30-day
                  period following the date on which it gives such notice to the
                  Company (or such shorter period ending on the date that any
                  payment of taxes with respect to such claim is due). If the
                  Company notifies the Employee in writing prior to the
                  expiration of such period that it desires to contest such
                  claim, the Employee shall:

                  (1)   give the Company any information reasonably requested by
                        the Company relating to such claim,

                  (2)   take such action in connection with contesting such
                        claim as the Company shall reasonably request in writing
                        from time to time, including, without limitation,
                        accepting legal representation with respect to such
                        claim by an attorney reasonably selected by the Company,

                  (3)   cooperate with the Company in good faith in order
                        effectively to contest such claim, and

                  (4)   permit the Company to participate in any proceedings
                        relating to such claim;

                  provided, however, that the Company shall bear and pay
                  directly all costs and expenses (including additional interest
                  and penalties) incurred in connection with such contest and
                  shall indemnify and hold the Employee

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                  harmless, on an after-tax basis, for any Excise Tax or income
                  tax (including interest and penalties with respect thereto)
                  imposed as a result of such representation and payment of
                  costs and expenses. Without limitation of the foregoing
                  provisions of this Paragraph 15(c), the Company shall control
                  all proceedings taken in connection with such contest and, at
                  its sole option, may pursue or forego any and all
                  administrative appeals, proceedings, hearings and conferences
                  with the taxing authority in respect of such claim and may, at
                  its sole option, either direct the Employee to pay the tax
                  claimed and sue for a refund or contest the claim in any
                  permissible manner, and the Employee agrees to prosecute such
                  contest to a determination before any administrative tribunal,
                  in a court of initial jurisdiction and in one or more
                  appellate courts, as the Company shall determine; provided,
                  however, that if the Company directs the Employee to pay such
                  claim and sue for a refund, the Company shall advance the
                  amount of such payment to the Employee, on an interest-free
                  basis and shall indemnify and hold the Employee harmless, on
                  an after-tax basis, from any Excise Tax or income tax
                  (including interest or penalties with respect thereto) imposed
                  with respect to such advance or with respect to any imputed
                  income with respect to such advance; and further provided that
                  any extension of the statute of limitations relating to
                  payment of taxes for the taxable year of the Employee with
                  respect to which such contested amount is claimed to be due is
                  limited solely to such contested amount. Furthermore, the
                  Company's control of the contest shall be limited to issues
                  with respect to which a Gross-Up Payment would be payable
                  hereunder and the Employee shall be entitled to settle or
                  contest, as the case may be, any other issue raised by the
                  Internal Revenue Service or any other taxing authority.

            (d)   If, after the receipt by the Employee of an amount advanced by
                  the Company pursuant to Paragraph 15(c), the Employee becomes
                  entitled to receive any refund with respect to such claim, the
                  Employee shall (subject to the Company's complying with the
                  requirements of Paragraph 15(c)) promptly pay to the Company
                  the amount of such refund (together with any interest paid or
                  credited thereon after taxes applicable thereto). If, after
                  the receipt by the Employee of an amount advanced by the
                  Company pursuant to Paragraph 15(c), a determination is made
                  that the Employee shall not be entitled to any refund with
                  respect to such claim and the Company does not notify the
                  Employee in writing of its intent to contest such denial of
                  refund prior to the expiration of 30 days after such
                  determination, then such advance shall be forgiven and shall
                  not be required to be repaid and the amount of such advance
                  shall offset, to the extent thereof, the amount of Gross-Up
                  Payment required to be paid.

      16.   Payment of Certain Costs of Employee. If a dispute arises regarding
the interpretation or enforcement of this Agreement, all legal fees and expenses
incurred by the Employee in seeking to obtain or enforce any right or benefit
provided for in this Agreement or in otherwise pursuing his claim will be paid
by the Company, to the extent permitted by law. The Company further agrees to
pay prejudgment interest on any money judgment obtained by

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the Employee calculated at the First National Bank of Chicago N.A. prime
interest rate in effect from time to time from the date that payment(s) to him
should have been made under this Agreement.

      17.   Indemnification; Directors, Managers and Officers Insurance. The
Company shall (a) during the Employment Period and thereafter without limitation
of time, indemnify and advance expenses to the Employee to the fullest extent
permitted by the laws of the State of Nevada from time to time in effect and (b)
during the Employment Period, acquire and maintain directors, managers and
officers liability insurance covering the Employee (and to the extent the
Company desires, other directors, managers and officers of the Company and its
affiliated companies) to the extent it is available at commercially reasonable
rates as determined by the Board ; provided, however, that in no event shall the
Employee be entitled to indemnification or advancement of expenses under this
Paragraph 17 with respect to any proceeding, or matter therein, brought or made
by the Employee against the Company other than one initiated by the Employee to
enforce the Employee's advancement of expenses as provided in this Paragraph 17
shall not be deemed exclusive of any other rights to which the Employee may at
any time be entitled under applicable law, the articles of incorporation or
bylaws of the Company, any agreement, a vote of security holders, a resolution
of the Board , or otherwise. The provisions of this Paragraph 17 shall continue
in effect notwithstanding termination of the Employee's employment hereunder for
any reason, including, without limitation, Employee's voluntary termination. In
furtherance thereof, and not by way of limitation, the Company shall reimburse
Employee for all reasonable legal fees and expenses incurred by Employee in
connection with Employee's obtaining and enforcing any right or benefit provided
by this Agreement. The reimbursement of such legal fees and expenses shall be
made within 30 days after Employee's request for payment accompanied by evidence
of the fees and expenses incurred. For a period of ten (10) years after the
termination, for any reason, of Employee's employment with the Company, the
Company shall indemnify, hold harmless and defend Employee, to the fullest
extent permitted by applicable law, from and against any loss, cost or expense
related to or arising out of any action or claim with respect to (i) the Company
or its affiliated companies or (ii) any action taken or omitted by the Employee
(INCLUDING, BUT NOT LIMITED TO, MATTERS THAT CONSTITUTE NEGLIGENCE OF THE
EMPLOYEE) for or on behalf of the Company or its affiliated companies, whether,
in either case, such action or claim, or the facts and circumstances giving rise
thereto, occurred or accrued before or after such termination of employment.

      18.   Mitigation. The Employee is not required to mitigate the amount of
any payments to be made by the Company pursuant to this Agreement by seeking
other employment or otherwise.

      19.   Successors.

            (a)   Except as may otherwise be provided under any other written
                  agreement between the Company and the Employee with respect to
                  the terms of Employee's employment in the event of a Change of
                  Control of the Company, the Company will require any successor
                  (whether direct or indirect, by purchase, merger,
                  consolidation or otherwise) to all or substantially all of the
                  business and/or assets of the Company, by agreement

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                  in form and substance satisfactory to the Employee, to
                  expressly assume and agree to perform this Agreement in the
                  same manner and to the same extent that the Company would be
                  required to perform it if no such succession had taken place.
                  Failure of the Company to obtain such agreement prior to the
                  effectiveness of any such succession shall be a breach of this
                  Agreement. Notwithstanding the foregoing, upon a conversion of
                  the Company to a "C" corporation pursuant to the Plan of
                  Conversion attached as Exhibit B to the Operating Agreement of
                  the Company, the converted corporation shall by operation of
                  law assume this Agreement with no further action on the part
                  of the Company or the Employee. As used in this Agreement,
                  "Company" shall mean the Company as hereinbefore defined, any
                  successor to its business and/or assets as aforesaid which
                  executes and delivers the agreement provided for in this
                  Paragraph 19 or which otherwise becomes bound by all the terms
                  and provisions of this Agreement by operation of law.

            (b)   This Agreement shall inure to the benefit of and be
                  enforceable by the Employee's personal or legal
                  representatives, executors, administrators, successors, heirs,
                  distributees, devisees and legatees.

      20.   No Inconsistent Obligations. Employee represents and warrants that
he has not previously assumed any obligations inconsistent with those of this
Agreement except as otherwise permitted pursuant to Paragraph 5 above.

      21.   Modification. This Agreement shall be in addition to all previous
agreements, written or oral, relating to Employee's employment by the Company,
and shall not be changed orally, but only by a written instrument to which the
Company and the Employee are both parties.

      22.   Binding Effect. This Agreement and the rights and obligations
hereunder shall be binding upon and inure to the benefit of the parties hereto
and their respective legal representatives, and shall also bind and inure to the
benefit of any successor of the Company by merger or consolidation or any
assignee of all or substantially all of its properties.

      23.   Bankruptcy. Notwithstanding anything in this Agreement to the
contrary, the insolvency or adjudication of bankruptcy of the Company, whether
voluntary or involuntary, shall terminate this Agreement and the rights and
obligations of Company and Employee hereunder shall be of no further force or
effect.

      24.   Law Governing. This Agreement made, accepted and delivered in Harris
County, Texas, is performable in Harris County, Texas, and it shall be construed
and enforced according to the laws of the State of Texas. Venue shall lie in
Harris County, Texas for the purpose of resolving and enforcing any dispute
which may arise under this Agreement and the parties agree that they will submit
themselves to the jurisdiction of the competent State or Federal Court situated
in Harris County, Texas.

      25.   Invalid Provision. In case any one or more of the provisions
contained in this Agreement shall be invalid, illegal or unenforceable in any
respect, the validity, legality and

                                                                              11
<PAGE>

enforceability of the remaining provisions contained herein shall not in any way
be impaired thereby.

      26.   Notices. For purposes of this Agreement, notices and all other
communications provided for herein shall be in writing and shall be deemed to
have been duly given when delivered or mailed by United States registered or
certified mail, return receipt requested, postage prepaid, addressed as follows:

            IF TO THE EMPLOYEE:

            Wayne L. Laufer
            600 Travis, Suite 6275
            Houston, TX 77022

            IF TO THE COMPANY:

            BOIS D'ARC ENERGY, LLC
            600 Travis, Suite 6275
            Houston, TX 77022

            With a copy to:
            Comstock Resources, Inc.
            Attention: Chief Financial Officer
            5300 Town and Country Blvd., Suite 500
            Frisco, Texas 75034

or to such other address as either party may have furnished to the other in
writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt.

                            [Signature page follows.]

                                                                              12
<PAGE>

      EXECUTED and effective as of the 16th day of July, 2004.

                                      BOIS D'ARC ENERGY, LLC

                                      By: /s/ Gary W. Blackie
                                         -----------------------------------
                                      Name: Gary W. Blackie
                                      Title: President

                                      EMPLOYEE:

                                      /s/ Wayne L. Laufer
                                      --------------------------------------
                                      Wayne L. Laufer

                                                                              13exv10w3b

 

EXHIBIT 10.3b

ASPECT COMMUNICATIONS CORPORATION

1998 DIRECTORS’ STOCK OPTION PLAN

Amended and Restated as of August 31, 2000

Amended as of June 6, 2002

Amended and Restated as of June 2, 2004

     1.    Purposes of the Plan. The purposes of this Directors’ Stock Option
Plan are to attract and retain the best available individuals for service as
Directors of the Company, to provide additional incentive to the Outside
Directors of the Company to serve as Directors, and to encourage their
continued service on the Board.

     All options granted hereunder shall be nonstatutory stock options.

     2.    Definitions. As used herein, the following definitions shall apply:

          (a) “Board” shall mean the Board of Directors of the Company.

          (b) “Code” shall mean the Internal Revenue Code of 1986, as amended.

          (c) “Common Stock” shall mean the Common Stock of the Company.

          (d) “Company” shall mean Aspect Communications Corporation, a California
corporation.

          (e) “Continuous Status as a Director” shall mean the absence of any
interruption or termination of service as a Director.

          (f) “Director” shall mean a member of the Board.

          (g) “Employee” shall mean any person, including any officer or director,
employed by the Company or any Parent or Subsidiary of the Company. The
payment of a director’s fee by the Company shall not be sufficient in and of
itself to constitute “employment” by the Company.

          (h) “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended.

          (i) “Option” shall mean a stock option granted pursuant to the Plan. All
options shall be nonstatutory stock options (i.e., options that are not
intended to qualify as incentive stock options under Section 422 of the Code).

          (j) “Optioned Stock” shall mean the Common Stock subject to an Option.

          (k) “Optionee” shall mean an Outside Director who receives an Option.

          (l) “Outside Director” shall mean a Director who is not an Employee.

          (m) “Parent” shall mean a “parent corporation,” whether now or hereafter
existing, as defined in Section 424(e) of the Code.

 

 

          (n) “Plan” shall mean this 1998 Directors’ Stock Option Plan.

          (o) “Share” shall mean a share of the Common Stock, as adjusted in
accordance with Section 11 of the Plan.

          (p) “Subsidiary” shall mean a “subsidiary corporation,” whether now or
hereafter existing, as defined in Section 424(f) of the Code.

     3.    Stock Subject to the Plan. Subject to the provisions of Section 11 of
the Plan, the maximum aggregate number of Shares which may be optioned and sold
under the Plan is 1,050,000 Shares (the “Pool”) of Common Stock. The Shares
may be authorized, but unissued, or reacquired Common Stock.

     If an Option should expire or become unexercisable for any reason without
having been exercised in full, the unpurchased Shares which were subject
thereto shall, unless the Plan shall have been terminated, become available for
future grant under the Plan. If Shares which were acquired upon exercise of an
Option are subsequently repurchased by the Company, such Shares shall not in
any event be returned to the Plan and shall not become available for future
grant under the Plan.

     4.    Administration of and Grants of Options under the Plan.

          (a) Administrator. Except as otherwise required herein, the Plan shall be
administered by the Board.

          (b) Procedure for Grants. All grants of Options hereunder shall be
automatic and nondiscretionary and shall be made strictly in accordance with
the following provisions:

               (i) No person shall have any discretion to select which Outside Directors
shall be granted Options or to determine the number of Shares to be covered by
Options granted to Outside Directors.

               (ii) Each person who becomes an Outside Director after the date of the
Company’s annual meeting of shareholders in 2004 shall be automatically granted
an Option to purchase 30,000 Shares (the “First Option”) on the date on which
such person first becomes an Outside Director, whether through election by the
shareholders of the Company or appointment by the Board of Directors to fill a
vacancy.

               (iii) Beginning on August 31, 2004, each Outside Director shall be
automatically granted an Option to purchase 20,000 Shares (a “Subsequent
Option”) on August 31 of each year (if August 31 falls on a Saturday, Sunday or
holiday, then the Option shall be automatically granted on the immediately
preceding business day), provided that, on such date, he or she shall have
served on the Board for at least six (6) months.

               (iv) On the date of the Company’s annual meeting of shareholders in 2004,
each Outside Director continuing in service immediately following such meeting
shall automatically be granted an Option to purchase 6,000 Shares (a “Special
Option”) on the date of the meeting.

               (v) Notwithstanding the provisions of subsections (ii) and (iii) hereof,
in the event that a grant would cause the number of Shares subject to
outstanding Options plus the number of Shares previously purchased upon
exercise of Options to exceed the Pool, then each such automatic grant shall be
for that number of Shares determined by dividing the total number of Shares
remaining available for grant by the number of Outside Directors receiving an
Option on such date on the automatic grant date. Any further grants shall then
be deferred until such time, if any, as additional Shares become available for
grant

 

 

under the Plan through action of the shareholders to increase the number
of Shares which may be issued under the Plan or through cancellation or
expiration of Options previously granted hereunder.

               (vi) Notwithstanding the provisions of subsections (ii) and (iii) hereof,
any grant of an Option made before the Company has obtained shareholder
approval of the Plan in accordance with Section 17 hereof shall be conditioned
upon obtaining such shareholder approval of the Plan in accordance with Section
17 hereof.

               (vii) The terms of each of the First Options, the Subsequent Options and
the Special Options granted hereunder shall be as follows:

                    (1) each such Option shall be exercisable only while the Outside Director
remains a Director of the Company, except as set forth in Sections 4(e) and 9
hereof;

                    (2) the exercise price per Share shall be 100% of the fair market value
per Share on the date of grant of the Option, determined in accordance with
Section 8 hereof; and

                    (3) each Option shall become vested and exercisable in installments
cumulatively as to 25% of the Shares subject to the Option on each of the
first, second, third and fourth anniversaries of the date of grant of the
Option.

          (c) Powers of the Board. Subject to the provisions and restrictions of
the Plan, the Board shall have the authority, in its discretion: (i) to
determine, upon review of relevant information and in accordance with Section
8(b) of the Plan, the fair market value of the Common Stock; (ii) to determine
the exercise price per share of Options to be granted, which exercise price
shall be determined in accordance with Section 8(a) of the Plan; (iii) to
interpret the Plan; (iv) to prescribe, amend and rescind rules and regulations
relating to the Plan; (v) to authorize any person to execute on behalf of the
Company any instrument required to effectuate the grant of an Option previously
granted hereunder; and (vi) to make all other determinations deemed necessary
or advisable for the administration of the Plan.

          (d) Effect of Board’s Decision. All decisions, determinations and
interpretations of the Board shall be final and binding on all Optionees and
any other holders of any Options granted under the Plan.

          (e) Suspension or Termination of Option. If the Chief Executive Officer
or his or her designee reasonably believes that an Optionee has committed an
act of misconduct, the Chief Executive Officer may suspend the Optionee’s right
to exercise any option pending a determination by the Board of Directors
(excluding the Outside Director accused of such misconduct). If the Board of
Directors (excluding the Outside Director accused of such misconduct)
determines an Optionee has committed an act of embezzlement, fraud, dishonesty,
nonpayment of an obligation owed to the Company, breach of fiduciary duty or
deliberate disregard of the Company rules resulting in loss, damage or injury
to the Company, or if an Optionee makes an unauthorized disclosure of any
Company trade secret or confidential information, engages in any conduct
constituting unfair competition, induces any Company customer to breach a
contract with the Company or induces any principal for whom the Company acts as
agent to terminate such agency relationship, neither the Optionee nor his or
her estate shall be entitled to exercise any option whatsoever. In making such
determination, the Board of Directors (excluding the Outside Director accused
of such misconduct) shall act fairly and shall give the Optionee an opportunity
to appear and present evidence on Optionee’s behalf at a hearing before the
Board or a committee of the Board.

 

 

     5.    Eligibility. Options may be granted only to Outside Directors. All
Options shall be automatically granted in accordance with the terms set forth
in Section 4(b) hereof. An Outside Director who has been granted an Option
may, if he or she is otherwise eligible, be granted an additional Option or
Options in accordance with such provisions.

     The Plan shall not confer upon any Optionee any right with respect to
continuation of service as a Director or nomination to serve as a Director, nor
shall it interfere in any way with any rights which the Director or the Company
may have to terminate his or her directorship at any time.

     6.    Term of Plan; Effective Date. The Plan shall become effective upon its
approval by the shareholders of the Company as described in Section 17 of the
Plan. It shall continue in effect for a term of ten (10) years unless sooner
terminated under Section 13 of the Plan.

     7.    Term of Options. The term of each Option shall be ten (10) years from
the date of grant thereof.

     8.     Exercise Price and Consideration.

          (a) Exercise Price. The per Share exercise price for the Shares to be
issued pursuant to exercise of an Option shall be 100% of the fair market value
per Share on the date of grant of the Option.

          (b) Fair Market Value. The fair market value shall be determined by the
Board; provided, however, that in the event the Common Stock is traded on the
Nasdaq National Market or listed on a stock exchange, the fair market value per
Share shall be the closing sale price on such system or exchange on the date of
grant of the Option (or, in the event that the Common Stock is not traded on
such date, on the immediately preceding trading date), as reported by Nasdaq or
the stock exchange.

          (c) Form of Consideration. The consideration to be paid for the Shares to
be issued upon exercise of an Option shall consist entirely of cash, check,
other Shares of Common Stock having a fair market value on the date of
surrender equal to the aggregate exercise price of the Shares as to which said
Option shall be exercised (which, if acquired from the Company, shall have been
held for at least six months), delivery of a properly executed exercise
together with irrevocable instructions to a broker to deliver promptly to the
Company the amount of sale or loan proceeds required to pay the exercise price,
or any combination of such methods of payment and/or any other consideration or
method of payment as shall be permitted under applicable corporate law.

     9.    Exercise of Option.

          (a) Procedure for Exercise; Rights as a Shareholder. Any Option granted
hereunder shall be exercisable at such times as are set forth in Section 4(b)
hereof; provided, however, that no Options shall be exercisable prior to
shareholder approval of the Plan in accordance with Section 17 hereof has been
obtained.

               (i) An Option may not be exercised for a fraction of a Share.

               (ii) An Option shall be deemed to be exercised when properly executed
notice of such exercise has been given to the Company in accordance with the
terms of the Option by the person entitled to exercise the Option and full
payment for the Shares with respect to which the Option is exercised has been
received by the Company. Full payment may consist of any consideration and
method of payment allowable under Section 8(c) of the Plan. Until the issuance
(as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company) of the stock certificate

 

 

evidencing such Shares, no right to vote or receive dividends or any other
rights as a shareholder shall exist with respect to the Optioned Stock,
notwithstanding the exercise of the Option. A share certificate (or
appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company) for the number of Shares so acquired shall be issued (or
made) to (or for) the Optionee as soon as practicable after exercise of the
Option. No adjustment will be made for a dividend or other right for which the
record date is prior to the date the stock certificate is issued, except as
provided in Section 11 of the Plan.

               (iii) Exercise of an Option in any manner shall result in a decrease in
the number of Shares which thereafter may be available, both for purposes of
the Plan and for sale under the Option, by the number of Shares as to which the
Option is exercised.

          (b) Termination of Status as a Director. If an Outside Director ceases to
serve as a Director, he or she may, but only within thirty (30) days after the
date he or she ceases to be a Director of the Company, exercise his or her
Option to the extent that he or she was entitled to exercise it at the date of
such termination. Notwithstanding the foregoing, in no event may the Option be
exercised after its term set forth in Section 7 has expired. To the extent
that such Outside Director was not entitled to exercise an Option at the date
of such termination, or does not exercise such Option (which he or she was
entitled to exercise) within the time specified herein, the Option shall
terminate.

          (c) Disability of Optionee. Notwithstanding Section 9(b) above, in the
event a Director is unable to continue his or her service as a Director with
the Company as a result of his or her total and permanent disability (as
defined in Section 22(e)(3) of the Code), he or she (or his or her authorized
representative) may, but only within six (6) months from the date of such
termination, exercise his or her Option to the extent he or she was entitled to
exercise it at the date of such termination. Notwithstanding the foregoing, in
no event may the Option be exercised after its term set forth in Section 7 has
expired. To the extent that he or she was not entitled to exercise the Option
at the date of termination, or if he or she does not exercise such Option
(which he or she was entitled to exercise) within the time specified herein,
the Option shall terminate.

          (d) Death of Optionee. In the event of the death of an Optionee:

               (i) During the term of the Option, if the Optionee is, at the time of his
or her death, a Director of the Company and has been in Continuous Status as a
Director since the date of grant of the Option, the Option may be exercised, at
any time within six (6) months following the date of death, by the Optionee’s
estate or by a person or entity who acquired the right to exercise the Option
by bequest or inheritance, but only to the extent of the right to exercise that
would have accrued had the Optionee continued living and remained in Continuous
Status as Director for six (6) months after the date of death. Notwithstanding
the foregoing, in no event may the Option be exercised after its term set forth
in Section 7 has expired.

               (ii) Within thirty (30) days after the termination of Continuous Status as
a Director, the Option may be exercised, at any time within six (6) months
following the date of death, by the Optionee’s estate or by a person who
acquired the right to exercise the Option by bequest or inheritance, but only
to the extent of the right to exercise that had accrued at the date of
termination. Notwithstanding the foregoing, in no event may the option be
exercised after its term set forth in Section 7 has expired.

     10.    Limited Transferability of Options. Except as set forth below, the
Option may not be sold, pledged, assigned, hypothecated, transferred, or
disposed of in any manner other than by will or by the laws of descent or
distribution or pursuant to a qualified domestic relations order (as defined by
the Code or the rules thereunder). An Option shall be transferable by an
Optionee to a living trust or a family trust

 

 

established by the Optionee, under such terms and conditions as are
established by the Administrator. Any such transfer shall also be subject to
the Applicable Laws. The designation of a beneficiary by an Optionee does not
constitute a transfer. An Option may be exercised during the lifetime of an
Optionee only by the Optionee or a transferee permitted by this Section.

     11.    Adjustments Upon Changes in Capitalization; Corporate Transactions.

          (a) Adjustment. Subject to any required action by the shareholders of the
Company, the number of shares of Common Stock covered by each outstanding
Option, and the number of shares of Common Stock which have been authorized for
issuance under the Plan but as to which no Options have yet been granted or
which have been returned to the Plan upon cancellation or expiration of an
Option, as well as the price per share of Common Stock covered by each such
outstanding Option, shall be proportionately adjusted for any increase or
decrease in the number of issued shares of Common Stock resulting from a stock
split, reverse stock split, stock dividend, combination or reclassification of
the Common Stock, or any other increase or decrease in the number of issued
shares of Common Stock effected without receipt of consideration by the
Company; provided, however, that conversion of any convertible securities of
the Company shall not be deemed to have been “effected without receipt of
consideration.” Such adjustment shall be made by the Board, whose
determination in that respect shall be final, binding and conclusive. Except
as expressly provided herein, no issuance by the Company of shares of stock of
any class, or securities convertible into shares of stock of any class, shall
affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of shares of Common Stock subject to an Option.

          (b) Corporate Transactions. In the event of (i) a dissolution or
liquidation of the Company, (ii) a sale of all or substantially all of the
Company’s assets, (iii) a merger or consolidation in which the Company is not
the surviving corporation, or (iv) any other capital reorganization in which
more than fifty percent (50%) of the shares of the Company entitled to vote are
exchanged, the Company shall give to the Eligible Director, at the time of
adoption of the plan for liquidation, dissolution, sale, merger, consolidation
or reorganization, either a reasonable time thereafter within which to exercise
the Option, including Shares as to which the Option would not be otherwise
vested and exercisable, prior to the effectiveness of such liquidation,
dissolution, sale, merger, consolidation or reorganization, at the end of which
time the Option shall terminate, or the right to exercise the Option, including
Shares as to which the Option would not be otherwise exercisable (or receive a
substitute option with comparable terms), as to an equivalent number of shares
of stock of the corporation succeeding the Company or acquiring its business by
reason of such liquidation, dissolution, sale, merger, consolidation or
reorganization.

     12.    Time of Granting Options. The date of grant of an Option shall, for
all purposes, be the date determined in accordance with Section 4(b) hereof.
Notice of the determination shall be given to each Outside Director to whom an
Option is so granted within a reasonable time after the date of such grant.

     13.    Amendment and Termination of the Plan.

          (a) Amendment and Termination. The Board may amend or terminate the Plan
from time to time in such respects as the Board may deem advisable; provided
that, to the extent necessary and desirable to comply with Rule 16b-3 under the
Exchange Act (or any other applicable law or regulation, including any
regulations of Nasdaq or any stock exchange on which the Company’s stock is
trading), the Company shall obtain approval of the shareholders of the Company
to Plan amendments to the extent and in the manner required by such law or
regulation.

          (b) Effect of Amendment or Termination. Any such amendment or termination
of the Plan that would impair the rights of any Optionee shall not affect
Options already granted to such Optionee

 

 

and such Options shall remain in full force and effect as if this Plan had
not been amended or terminated, unless mutually agreed otherwise between the
Optionee and the Board, which agreement must be in writing and signed by the
Optionee and the Company.

     14.    Conditions Upon Issuance of Shares. Shares shall not be issued
pursuant to the exercise of an Option unless the exercise of such Option and
the issuance and delivery of such Shares pursuant thereto shall comply with all
relevant provisions of law, including, without limitation, the Securities Act
of 1933, as amended, the Exchange Act, the rules and regulations promulgated
thereunder, state securities laws, and the requirements of any stock exchange
upon which the Shares may then be listed, and shall be further subject to the
approval of counsel for the Company with respect to such compliance. As a
condition to the exercise of an Option, the Company may require the person
exercising such Option to represent and warrant at the time of any such
exercise that the Shares are being purchased only for investment and without
any present intention to sell or distribute such Shares, if, in the opinion of
counsel for the Company, such a representation is required by any of the
aforementioned relevant provisions of law.

     15.    Reservation of Shares. The Company, during the term of this Plan,
will at all times reserve and keep available such number of Shares as shall be
sufficient to satisfy the requirements of the Plan. Inability of the Company
to obtain authority from any regulatory body having jurisdiction, which
authority is deemed by the Company’s counsel to be necessary to the lawful
issuance and sale of any Shares hereunder, shall relieve the Company of any
liability in respect of the failure to issue or sell such Shares as to which
such requisite authority shall not have been obtained.

     16.    Option Agreement. Options shall be evidenced by written option
agreements in such form as the Board shall approve.

     17.    Shareholder Approval. The effectiveness of the Plan shall be
contingent upon approval by the shareholders of the Company at or prior to the
first annual meeting of shareholders held subsequent to the date on which the
Plan is adopted by the Board. If such shareholder approval is obtained at a
duly held shareholders’ meeting, it may be obtained by the affirmative vote of
the holders of a majority of the outstanding shares of the Company present or
represented and entitled to vote thereon. If such shareholder approval is
obtained by written consent, it may be obtained by the written consent of the
holders of a majority of the outstanding shares of the Company.

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