Document:

Stock Option Plan

 EXHIBIT 10.1 
  
 STOCK OPTION PLAN 
 APPROVED AT SHAREHOLDERS MEETING ON JULY 5, 2002. 
  

	1.	Purpose 

  
 The purpose of the Stock Option Plan (the “Plan”) of Gastar Exploration Ltd. (the “Corporation”), a corporation governed by the
Business Corporations Act (Alberta), is to advance the interests of the Corporation by encouraging the directors, officers, employees and consultants of the Corporation, and of its subsidiaries and affiliates, to acquire shares in the
Corporation, thereby increasing their proprietary interest in the Corporation, encouraging them to remain associated with the Corporation and furnishing them with additional incentive in their efforts on behalf of the Corporation in the conduct of
its affairs. 
  

	2.	Administration 

  
 The Plan shall be administered by the Board of Directors of the Corporation or by a special committee of the directors appointed from time to time by the
Board of Directors of the Corporation pursuant to rules of procedure fixed by the Board of Directors (such committee or, if no such committee is appointed, the Board of Directors of the Corporation is hereinafter referred to as the
“Board”). A majority of the Board shall constitute a quorum, and the acts of a majority of the directors present at any meeting at which a quorum is present, or acts unanimously approved in writing, shall be the acts of the directors.

  
 Subject to the provisions of the Plan, the Board shall have
authority to construe and interpret the Plan and all option agreements entered into thereunder, to define the terms used in the Plan and in all option agreements entered into thereunder, to prescribe, amend and rescind rules and regulations relating
to the Plan and to make all other determinations necessary or advisable for the administration of the Plan. All determinations and interpretations made by the Board shall be binding and conclusive on all participants in the Plan and on their legal
personal representatives and beneficiaries. 
  
 Each option
granted hereunder may be evidenced by an agreement in writing, signed on behalf of the Corporation and by the optionee, in such form as the Board shall approve. Each such agreement shall recite that it is subject to the provisions of this Plan.

  

	3.	Stock Exchange Rules 

  
 All options granted pursuant to this Plan shall be subject to rules and policies of any stock exchange or exchanges on which the Common Shares of the
Corporation are then listed and any other regulatory body having jurisdiction hereinafter (collectively referred to as, the “Exchange”). 
  

	4.	Shares Subject to Plan 

  
 Subject to adjustment as provided in Section 15 hereof, the shares to be offered under the Plan shall consist of shares of the Corporation’s
authorized but unissued Common Shares. The aggregate number of shares issuable upon the exercise of all options granted under the Plan shall not exceed 25,000,000 Common Shares (which amount is exclusive of stock options granted prior to the
implementation of the Plan). If any option granted hereunder shall expire or terminate for any reason in accordance with the terms of the Plan without being exercised, the unpurchased shares subject thereto shall again be available for the purpose
of this Plan. 
  

	5.	Maintenance of Sufficient Capital 

  
 The Corporation shall at all times during the term of the Plan reserve and keep available such numbers of shares as will be sufficient to satisfy the
requirements of the Plan. 

	6.	Eligibility and Participation 

  
 Directors, officers, consultants, and employees of the Corporation or its subsidiaries, and employees of a person or company which provides management
services (excluding investor relations services) to the Corporation or its subsidiaries (“Management Company Employees”) shall be eligible for selection to participate in the Plan (such persons hereinafter collectively referred to as
“Participants”). Subject to compliance with applicable requirements of the Exchange, Participants may elect to hold options granted to them in an incorporated entity wholly owned by them and such entity shall be bound by the Plan in the
same manner as if the options were held by the Participant. 
  
 Subject to the terms hereof, the Board shall determine to whom options shall be granted, the terms and provisions of the respective option agreements, the time or times at which such options shall be granted and vested, and the number of
shares to be subject to each option. In the case of employees or consultants of the Corporation or Management Company Employees, the option agreements to which they are party must contain a representation of the Corporation that such employee,
consultant or Management Company Employee, as the case may be, is a bona fide employee, consultant or Management Company Employee of the Corporation or its subsidiaries. 
  
 An individual who has been granted an option may, if he is otherwise eligible, and if permitted under the policies of the
Exchange, be granted an additional option or options if the Board shall so determine. 
  

	7.	Exercise Price 

  

	 	(a)	The exercise price of the shares subject to each option shall be determined by the Board, subject to applicable Exchange approval, at the time any option is granted. In no event
shall such price be lower than the price permitted by the Exchange. 

  

	 	(b)	Once the exercise price has been determined by the Board, accepted by the Exchange and the option has been granted, the exercise price of an option may only be reduced, in the case
of options held by insiders of the Corporation (as defined by the Exchange), if disinterested shareholder approval is obtained at a meeting of the shareholders of the Corporation. 

  

	8.	Number of Optioned Shares 

  
 The number of shares subject to an option granted to any one Participant shall be determined by the Board, but no one Participant shall be granted an
option which exceeds the maximum number permitted by the Exchange. 
  

	9.	Duration of Option 

  
 Each option and all rights thereunder shall be expressed to expire on the date set out in the option agreement and shall be subject to earlier termination
as provided in Sections 11 and 12. 
  

	10.	Option Period, Consideration and Payment 

  

	 	(a)	The option period shall be a period of time fixed by the Board not to exceed the maximum period of time permitted by the Exchange, provided that the option period shall be reduced
with respect to any option as provided in Sections 11 and 12 covering cessation as a director, officer, consultant, employee or Management Company Employee of the Corporation or its subsidiaries, or death of the Participant.

  

	 	(b)	Subject to the policies of the Exchange, an option shall vest and may be exercised (in each case to the nearest full share) during the option period: 

  

	 	(i)	in the circumstance where the number of shares reserved for issuance by the Board pursuant to the exercise of options granted is less than or equal to 10% of the number of issued
and outstanding shares of the Corporation, in such manner as the Board may determine; 

  

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	 	(ii)	in the circumstance where the Corporation is a Tier 2 Issuer, as defined in the policies of the Canadian Venture Exchange Inc., and the number of shares reserved for issuance by the
Board pursuant to the exercise of options granted is greater than 10% of the issued and outstanding shares of the Corporation, in accordance with a vesting schedule which shall be established by the Board and which shall be acceptable to the
Exchange. 

  

	 	(c)	Options which have vested, may be exercised in whole or in part at any time and from time to time during the option period. To the extent required by the Exchange, no options may be
exercised under this Plan until this Plan has been approved by a resolution duly passed by the shareholders of the Corporation. 

  

	 	(d)	Except as set forth in Sections 11 and 12, no option may be exercised unless the Participant is at the time of such exercise a director, officer, consultant, or employee of the
Corporation or any of its subsidiaries, or a Management Company Employee of the Corporation or any of its subsidiaries. 

  

	 	(e)	The exercise of any option will be contingent upon receipt by the Corporation at its head office of a written notice of exercise, specifying the number of Common Shares with respect
to which the option is being exercised, accompanied by cash payment, certified cheque or bank draft for the full purchase price of such Common Shares with respect to which the option is exercised. No Participant or his legal representatives,
legatees or distributees will be, or will be deemed to be, a holder of any shares subject to an option under this Plan, unless and until the certificates for such shares are issued to him or them under the terms of the Plan.

  

	11.	Ceasing To Be a Director, Officer, Consultant or Employee 

  
 If a Participant shall cease to be a director, officer, consultant, employee of the Corporation or its subsidiaries, or a Management Company Employee for
any reason (other than death), he may exercise his option to the extent that he was entitled to exercise it at the date of such cessation, but only within 90 days after his ceasing to be a director, officer, consultant, employee or a Management
Company Employee, unless such Participant was engaged in investor relations activities in which case, only within 30 days after the cessation of his services to the Corporation. 
  
 Nothing contained in the Plan, nor in any option granted pursuant to the Plan, shall as such confer upon any Participant any
right with respect to continuance as a director, officer, consultant, employee or Management Company Employee of the Corporation or of any of its subsidiaries or affiliates. 
  

	12.	Death of Participant 

  
 In the event of the death of a Participant, the option previously granted to him shall be exercisable only within the one (1) year after such death and
then only: 
  

	 	(a)	by the person or persons to whom the Participant’s rights under the option shall pass by the Participant’s will or the laws of descent and distribution; and

  

	 	(b)	if and to the extent that he was entitled to exercise the Option at the date of his death. 

  

	13.	Rights of Optionee 

  
 No person entitled to exercise any option granted under the Plan shall have any of the rights or privileges of a shareholder of the Corporation in respect
of any shares issuable upon exercise of such option until certificates representing such shares shall have been issued and delivered. 
  

	14.	Proceeds from Sale of Shares 

  
 The proceeds from sale of shares issued upon the exercise of options shall be added to the general funds of the Corporation and shall thereafter be used
from time to time for such corporate purposes as the Board may determine. 
  

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	15.	Adjustments 

  
 If the outstanding shares of the Corporation are increased, decreased, changed into or exchanged for a different number or kind of shares of securities of
the Corporation through re-organization, merger, re-capitalization, re-classification, stock dividend, subdivision or consolidation, an appropriate and proportionate adjustment shall be made by the Board in its discretion in the number or kind of
shares optioned and the exercise price per share, as regards previously granted and unexercised options or portions thereof, and as regards options which may be granted subsequent to any such change in the Corporation’s capital. 
  
 Upon the liquidation or dissolution of the Corporation or upon a
re-organization, merger or consolidation of the Corporation with one or more corporations as a result of which the Corporation is not the surviving corporation, or upon the sale of substantially all of the property or more than eighty (80%) percent
of the then outstanding shares of the Corporation to another corporation, the Plan shall terminate, and any options theretofore granted hereunder shall terminate unless provision is made in writing in connection with such transaction for the
continuance of the Plan and for the assumption of options theretofore granted, or the substitution for such options of new options covering the shares of a successor employer corporation, or a parent or subsidiary thereof, with appropriate
adjustments as to number and kind of shares and exercise prices, in which event the Plan and options theretofore granted shall continue in the manner and upon the terms so provided. If the Plan and unexercised options shall terminate pursuant to the
foregoing sentence, the shares subject to all options granted shall immediately vest and all Participants then entitled to exercise an unexercised portion of options then outstanding shall have the right at such time immediately prior to
consummation of the event which results in the termination of the Plan as the Corporation shall designate, to exercise their options to the full extent not theretofore exercised. 
  
 Adjustments under this Section shall be made by the Board whose determination as to what adjustments shall be made, and the
extent thereof, shall be final, binding and conclusive. No fractional share shall be required to be issued under the Plan on any such adjustment. 
  

	16.	Transferability 

  
 All benefits, rights and options accruing to any Participant in accordance with the terms and conditions of the Plan shall not be transferrable or
assignable unless specifically provided herein or the extent, if any, permitted by the Exchange. During the lifetime of a Participant any benefits, rights and options may only be exercised by the Participant. 
  

	17.	Amendment and Termination of Plan 

  
 Subject to applicable approval of the Exchange, the Board may, at any time, suspend or terminate the Plan. Subject to applicable approval of the Exchange,
the Board may also at any time amend or revise the terms of the Plan, Provided that no such amendment or revision shall alter the terms of any options theretofore granted under the Plan. 
  

	18.	Necessary Approvals 

  
 The ability of a Participant to exercise options and the obligation of the Corporation to issue and deliver shares in accordance with the Plan is subject
to any approvals which may be required from shareholders of the Corporation and any regulatory authority or stock exchange having jurisdiction over the securities of the Corporation. If any shares cannot be issued to any Participant for whatever
reason, the obligation of the Corporation to issue such shares shall terminate and any option exercise price paid to the Corporation will be returned to the Participant. 
  

	19.	Effective Date of Plan 

  
 The Plan has been adopted by the Board of the Corporation subject to the approval of the Exchange and, if so approved, the Plan shall become effective
upon such approvals being obtained. 
  

	20.	Interpretation 

  
 The Plan will be governed by and construed in accordance with the laws of the Province of Alberta. 
  
 MADE by the Board of Directors of the Corporation as evidenced by the signature of the
following director duly authorized in that behalf effective July 5, 2002. 
  

			
	 	 	GASTAR EXPLORATION LTD.
		
	Per:	 	 
	 	 	 

  

 - 4 -Employment Agreement - J. Russell Porter

 EXHIBIT 10.2 
  
 EMPLOYMENT AGREEMENT 
  
 AGREEMENT, dated the 23 day of March, 2005, by and between FIRST SOURCENERGY WYOMING, INC. (“FSW”), GASTAR EXPLORATION, LTD., a Canadian
corporation (“Gastar”), (FSW and Gastar are collectively “Company”), and J. RUSSELL PORTER (“Porter”). 
  
 WITNESSETH: 
  
 WHEREAS, Gastar has employed Porter as President and Chief Executive Officer (collectively “CEO”) of Gastar since February 24, 2004, and
previously as Chief Operating Officer and Vice President since September 6, 2000, and desires to continue to do so; and 
  
 WHEREAS, the Board of Directors of Gastar (“Board”) recognizes that Porter has and will contribute significantly to the growth and
success of the Company; and 
  
 WHEREAS, the Board desires
to provide for the continued employment of Porter which the Board has determined will reinforce and encourage the continued attention and dedication of Porter as a member of the Company’s senior management, in the best interest of the Company;
and 
  
 WHEREAS, Porter is willing to commit himself to
continue serving the Company on the terms and conditions herein provided; and 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations hereinafter set forth, the parties hereby agree as follows: 
  

	1.	Employment. Effective February 24, 2004, Gastar agrees to employ Porter as its President and CEO, and Porter accepts such employment and agrees to serve the Company subject
to the general supervision, advice and direction of the Board and upon the terms and conditions set forth in this Agreement. 

  

	2.	Duties. Porter shall be the President and Chief Executive Officer of Gastar with such authority and duties as are customary in that position or as directed by the Board.

  

	3.	Term of Employment. Porter’s employment under this Agreement shall be effective as of February 24, 2005, and shall continue thereafter unless terminated in accordance
with the provisions of this Agreement. 

  

	4.	Termination of Employment. Notwithstanding any other provision of this Agreement, Porter’s employment shall terminate at any time as set forth below:

  

	 	(a)	Porter’s employment shall terminate without notice upon Porter’s death; 

  

	 	(b)	Porter’s employment shall terminate without notice upon Porter’s Disability. The term “Disability” means the inability, due to physical or mental illness of
Porter, to perform the essential functions of his position with or without accommodation, for a continuous period of twelve (12) months. The date of disability shall be deemed to be the last day of said twelve (12) month period. Successive periods
of illness or injury due to the same or related causes shall be considered as one period of disability unless such period is separated by Porter’s return to full-time employment for three (3) successive months. 

  

	 	(c)	Porter may terminate Porter’s employment for any or no reason, with or without cause, upon six month’s written notice to Company. 

  

	 	(d)	Company may terminate Porter’s employment for any or no reason, with or without cause, upon one year’s written notice to Porter. 

	 	(e)	Company may also terminate Porter’s employment at any time without prior notice upon a showing of “Reasonable Cause.” “Reasonable Cause” shall be defined
for purposes of this Agreement as being: 

  

	 	(i)	Any act or omission which constitutes dishonesty, disloyalty, fraud, deceit, gross negligence, willful misconduct or recklessness, including the willful violation of Company’s
established policies and procedures; 

  

	 	(ii)	Any felony conviction under the laws of any state or the United States, which is affirmed on all appeals or not timely appealed; 

  

	 	(iii)	Breach of any material provision of this Agreement; 

  

	 	(iv)	Refusal to perform services that Porter is required to perform under this Agreement after explicit instructions from the board of the Company ordering Porter to perform such
services; 

  

	 	(v)	Any other act that is determined by the affirmative vote of two-thirds of the shareholders, in their sole and absolute discretion, to constitute “Reasonable Cause” or to
be detrimental to the best interests of the Company; 

  

	 	(vi)	Porter’s employment may not be terminated for Reasonable Cause unless Porter first has the opportunity to make a presentation at a meeting of the Board of Directors, and is
given, at least ten (10) days before such meeting, a written description of the basis for the possible termination of Porter’s employment for Reasonable Cause. 

  
 Within 48 hours upon termination of his employment, Porter shall return to Company all confidential information and all
originals and copies of any other property or information owned by Company or relating to its business, that Porter has in his possession or under his control, including all credit cards, papers, books, equipment, files, and automobiles. 

 

	5.	Compensation. For all services rendered by Porter under this Agreement, Company shall pay Porter an annual salary of Four Hundred Fifty Thousand Dollars ($450,000) per year.
Such salary may be adjusted upward, in the discretion of the Board and its Compensation Committee, at each year’s anniversary date of his employment as CEO, February 24. As such, his salary may be adjusted upward effective February 24 of each
successive year. Porter’s salary may be adjusted downward at each anniversary date by the Board and its Compensation Committee, providing that Porter is given the basis for the Compensation Committees’ intended action and the opportunity
to discuss it with them. 

  
 In addition, the
Compensation Committee shall, on a yearly basis, or at such more frequent times as it may elect, determine and award Porter a bonus or bonuses. Such bonus or bonuses may take the form of cash compensation, the award of stock or stock options,
royalty rights in property of the Company, or otherwise. Such annual cash bonuses shall in the aggregate equal at least 20% of Porter’s annual salary. The bonuses shall reflect not only the results of the Company’s operations and business,
but of Porter’s contribution as President and CEO to the Company’s operations and business. It is agreed that Porter shall be paid a cash bonus of $150,000 for the calendar year 2004, such bonus to be paid prior to April 1, 2005.

  

	6.	Fringe Benefits. 

  

	 	(a)	Porter shall participate in, subject to eligibility requirements, Company’s employee pension plans and profit sharing plans, if any, and any other medical, dental,
hospitalization, disability, life or other insurance or benefit programs on the same terms as apply to other executive staff employees of Company. 

  

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	 	(b)	Company shall pay or reimburse Porter up to Twenty Five Thousand Dollars ($25,000) for his membership dues in such clubs and/or organizations as are reasonable and customary for the
President and CEO. 

  

	 	(c)	Company shall reimburse Porter for all necessary and reasonable business expenses incurred by him. 

  

	 	(d)	Company shall reimburse Porter for the cost of a yearly executive physical examination and all required or recommended medical testing in connection with that yearly examination.

  

	7.	Liability Insurance and Indemnification. 

  
 The Company represents and warrants that Gastar has in place Directors and Officers liability Insurance Policies, naming Porter as an insured against any
and all claims, actions, causes of action, lawsuits or investigations which could be brought against Porter in his capacity as President and Chief Executive Officer of Gastar, subject only to the specific exclusions set forth in said Policies. For
the duration of the period of time for which Porter shall be an employee of the Company, including as the President and Chief Executive Officer of Gastar, the Company shall maintain these policies and timely pay all premiums due under those
policies. The Company shall acquire such “tail” or other policies of insurance to continue the coverage of Porter, should he no longer be employed by the Company to cover any subsequent claims, actions, lawsuits, causes of action or
investigations brought against Porter while in the capacity of President and CEO of the Company. 
  
 The Company shall indemnify and hold Porter harmless from any action, claim, lawsuit, cause of action or investigation brought against Porter, as the
President and Chief Executive Officer of the Company, regardless of whether the Directors and Officers Liability Insurance Policies are in place, and regardless of whether Porter has left the employ of the Company as President, CEO, or otherwise.
This agreement by the Company to indemnify and hold Porter harmless shall include the Company’s obligation to pay all damages, injuries and penalties incurred by Porter or against Porter, and Porter’s costs and reasonable attorneys’
fees. This agreement to indemnify and hold harmless shall not apply if and only if Porter is convicted of a felony which is affirmed on appeals or is not appealed, or is found guilty, by final verdict, of fraud. 
  

	8.	Severance. 

  

	 	(a)	When Severance is Paid. Company shall pay a severance benefit to Porter if Porter’s employment is terminated pursuant to Section 4(a), 4(b), 4(c) and 4(d). No
severance shall be paid if Porter’s employment is terminated pursuant to Section 4(e). 

  

	 	(b)	Amount of Severance Payment. Porter shall receive severance pay of two (2) years total compensation if his severance occurs after February 24, 2004. The severance
payment will consist of the payment of Porter’s W-2 compensation earned in the calendar year coincident with or immediately preceding Porter’s termination of employment, payable over the appropriate number of weeks after termination of
employment (the “Severance Pay Period”) and continuation of health insurance for Porter and his family at Company’s expense during the Severance Pay Period. Such health insurance shall be provided only if Porter timely elects COBRA
continuation coverage. The duration of the provision of health inspection shall be subject to the limitations imposed by law and the Company’s insurance plan, notwithstanding the prior sentence. If Porter dies during the Severance Pay Period,
Severance Pay and health benefits will continue for the benefit of Porter’s eligible beneficiary during the remainder of the Severance Pay Period. 

  

	9.	Vesting of Stock Options. Effective on the date of Porter’s termination of employment pursuant to Paragraph 4 above, the unvested portion of any and all stock options
held by Porter on such date, shall immediately become fully vested. All other terms and conditions of such stock options shall remain unchanged. 

  

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	10.	Time Off. Porter shall be entitled each year to sick and holiday time off with full pay and benefits under arrangements equivalent to those that apply generally to all
employees of Company. Porter shall also be entitled to twenty (20) working days (Monday through Friday) of vacation time off per full calendar year. Up to ten (10) days of vacation which are not used in each calendar year shall be paid to Porter in
a lump sum within thirty (30) days of termination of employment for any reason. Such payment shall be based on Porter’s W-2 compensation for the calendar year ending coincident with or immediately preceding Porter’s termination of
employment multiplied by the number of days of accumulated vacation divided by 365 (e.g., if Porter accumulates 10 days in each year for ten (10) years he shall be paid for 100 days upon termination of employment). 

  

	11.	Moving and Relocation Expenses. Porter’s reasonable moving and relocation expenses shall be completely paid for by the Company if the Board determines that it is the
best interests of the Company for him to reside at a location other than Miami, Florida. 

  

	12.	Restrictive Covenant. 

  

	 	(a)	Porter will not, at any time, either during or after employment with Company, use or disclose to others any trade secrets (such as information, strategy, procedures, policies or
practices relating to financial, marketing and/or operational data) or other confidential information about Company’s business or any of its proprietary rights, except as required in the ordinary course of performing employment duties for
Company. 

  

	 	(b)	On termination of employment, Porter will deliver to Company all documents or papers (including diskettes or any other medium for electronic storage of information) relating to
Company’s business or such trade secrets (such as information, strategy, procedures, policies or practices relating to financial, marketing and/or operational data) or confidential information that is in Porter’s possession or under
Porter’s control without making copies or summaries of any such material. 

  

	 	(c)	Porter agrees that Company is entitled to be protected from the possibility that Porter may seek to become associated with a business competes with Company. Porter agrees therefore
as follows: 

  

	 	(i)	For a period of two (2) year(s) from Porter’s termination of employment with Company pursuant to Paragraphs 4(a), 4(b), 4(c) or 4(d) above, Porter shall not directly or
indirectly, whether as an equity owner, employee, consultant, officer, or director, or in any other capacity, engage in or have an interest in any business involved in direct competition with the Company in the exploration for and production of oil,
gas or other hydrocarbons. 

  

	 	(ii)	For a period of six (6) months from Porter’s termination of employment with Company pursuant to Paragraph 4(e) above, Porter shall not directly or indirectly, whether as an
equity owner, employee, consultant, officer or director, or in any other capacity, engage in or have an interest in any business involved in direct competition with the Company in the exploration for and production of oil, gas or other hydrocarbons.

  

	 	(iii)	Porter acknowledges that if this Agreement is violated, it will cause severe and irreparable injury to Company and its good will, an injury that is not adequately compensable by
money damages. Accordingly, in the event of a breach (or attempted breach) of this Agreement, Company shall, in addition to any other rights or remedies, be entitled to immediate appropriate injunctive relief, such as an injunction, preliminary
injunction or temporary restraining order, prohibiting any breach or threatened breach of this Agreement, or a decree of specific performance of this Agreement, without the necessity of showing any irreparable injury or special damages.

  

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	13.	Company Facilities and Staff Support. Company shall provide and maintain (or cause to be provided and maintained) such facilities, equipment, supplies, and staff support as
are deemed appropriate by the Board of Directors in its sole discretion, after consultation with Porter to be necessary for Porter’s performance of his professional duties under this Agreement. 

  

	14.	Accounting. All determinations under this Agreement including, but not limited to, compensation and bonuses shall be made using accounting principles consistently applied in
preparation of Company’s income tax returns by the independent certified public accounting then serving the Company, whose determination shall be binding on all parties. The determination of the accountant is not subject to arbitration or any
other review by any tribunal or court and both Porter and Company specifically waive any right to challenge the determination of the accountant. 

  

	15.	Miscellaneous Provisions. 

  

	 	(a)	Notices. Unless otherwise agreed in writing, all notices required by this Agreement shall be in writing and shall be deemed given when physically delivered to a party
or its duly authorized attorney or legal representative, or when deposited paid, registered or certified mail, addressed to the party at its principle business or residence, as set forth in Company’s records, or as known to or reasonably
ascertainable by the party required to give notice. 

  

	 	(b)	General Rule of Construction. The parties have participated jointly in the negotiating and drafting of this Agreement. If a question concerning intent or
interpretation arises, no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of authorship. 

  

	 	(c)	Waivers. No assent, express or implied, by any party to any breach o default under this Agreement shall constitute a waiver of or assent to any breach or default of
any other provision of this Agreement or any breach or default of the same provision on any other occasion. 

  

	 	(d)	Entire Agreement and Modification. This Agreement constitutes the entire agreement of the parties concerning its subject matter and supersedes all other oral or
written understandings, discussions, and agreements, and may be modified only in a writing signed by all parties. 

  

	 	(e)	Binding Effect; No Third Party Beneficiaries. This Agreement shall bind and benefit the parties and their respective heirs, devisees, beneficiaries, grantees, donees,
legal representatives, successors and assigns. Nothing in this Agreement shall be construed to confer any rights or benefits on third party beneficiaries. 

  

	 	(f)	Assignment. Neither party may assign its interest in this Agreement without the other’s prior written consent; provided, however, that Company may assign its
interest to another entity that it controls, is controlled by, or is under common control with. 

  

	 	(g)	Captions. Titles or captions contained in this Agreement are for convenience and are not intended to affect the substantive meaning of any provision.

  

	 	(h)	 Severability. Porter and Company hereby expressly agree and contract that it is not the intention of either party to violate any public policy,
statutory or common law, and that if any sentence, paragraph, clause or combination of the same of this Agreement is in violation of the law of any state where applicable, such sentence, paragraph, clause or combination of the same shall be void in
the jurisdiction where it is unlawful, and the remainder of the Agreement shall remain binding on the parties hereto. It is the intention of Porter and Company to make the covenants of this Agreement binding only to the extent that it may be
lawfully done under the existing applicable laws. In the event that any part of any covenant of this Agreement is determined by a court of law to be overly broad thereby making the covenant unenforceable, the Company and Porter hereto agree, and it
is their desire, that such court shall substitute a reasonable and enforceable limitation 

  

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in place of the offensive part of the covenant, and that as so modified the covenant shall be as fully enforced as set forth herein by the parties themselves
in the modified form, such modification to apply only in the jurisdiction of the court that has made the adjudication. 

  

	 	(i)	Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and
the same instrument. 

  

	 	(j)	Effect of Termination. This Agreement shall continue in effect upon and after the termination of Porter’s employment for any reason to the extent necessary for
the enforcement of any of its provisions that apply subsequent to any such termination. 

  

	 	(k)	Dispute Resolution. Any and all disputes between the parties, including any claims arising out this Agreement or its termination, or any claim of employment
discrimination, shall be settled by in the United States District Court for the Eastern District of Michigan, Northern Division. 

  

	 	(l)	Governing Law. This Agreement shall be governed by and construed under the laws of the State of Michigan; and secondarily the laws of the United States.

  

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 IN WITNESS WHEREOF, the parties have executed this Agreement to be effective as specified above.

  

									
	First Sourcenergy Wyoming, Inc.	 	 	 	 
	 	 	 	 	J. RUSSELL PORTER
					
	By:	 	 	 	 	 	Date:	 	 
	 Its:
	 	 	 	 	 	 	 	 
	 Date: 
	 	 	 	 	 	 	 	 

  

									
	Gastar Exploration, Ltd.	 	 	 	 
					
	By:	 	 	 	 	 	 	 	 
	 Its:
	 	 	 	 	 	 	 	 
	 Date: 
	 	 	 	 	 	 	 	 

  

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