Document:

Unassociated Document

    
      

    

    Exhibit
      10.12 Employment Agreement of Harry Briers

    

    EXECUTIVE
      VICE PRESIDENT EMPLOYMENT AGREEMENT

    

    

    THIS
      AGREEMENT is made and entered into this 9th
      day of
      October, 2006, by and between HYPERDYNAMICS CORPORATION, a Delaware corporation
      (the "Company"), and Harry James Briers ("Executive").

     

    W
      I T N E
      S S E T H:

    

    WHEREAS,
      Executive and the Company deem it to be in their respective best interests
      to
      enter into an agreement providing for the Company's employment of Executive
      pursuant to the terms herein stated;

     

    NOW,
      THEREFORE, in consideration of the premises and the mutual promises and
      agreements contained herein, it is hereby agreed as follows:

    

    1.  
        Effective
      Date. This Agreement shall be effective as of the 1st
      day of
      July, 2006, which date shall be referred to herein as the "Effective
      Date".

    

    2.  
        Position
      and Duties.

    

    (a)
      Heretofore, Executive has served the Company since 1998 , became Vice President
      of Operations and named chief operating officer in 1999, and in 2002 became
      a
      member of the board of directors and was named the company’s Executive Vice
      President. In February of 2006, the board of directors elected Executive as
      its
      Executive Vice President once again. Heretofore the Executive has been employed
      without an employment agreement. 

    

    Henceforth,
      the Company hereby employs Executive as its Executive Vice President pursuant
      to
      the terms of this Agreement commencing as of the Effective Date for the "Term
      of
      Employment" (as herein defined below). In this capacity, Executive shall devote
      his best efforts and his full business time and attention to the performance
      of
      the services defined by the by-laws of the company, services customarily
      incident to such offices and position and to such other services of a senior
      executive nature as may be reasonably assigned by the Chief Executive Officer
      or
      requested by the Board of Directors (the "Board") of the Company which may
      include services for one or more subsidiaries or affiliates of the Company.
      Executive shall in his capacity as an employee and officer of the Company be
      responsible to and obey the reasonable and lawful directives of the Chief
      Executive Officer and the Board of Directors of Hyperdynamics Corporation.
      

    

    (b)
      Executive shall devote his full time (as defined below) and attention to such
      duties, except for sick leave, periodic personal trips and vacations as
      determined not to conflict with the material operations of the Company, and
      excused leaves of absences otherwise. Executive shall use his best efforts
      during the Term of Employment to protect, encourage, and promote the interests
      of the Company.

    

    Full
      time
      with respect to this agreement is understood to credit the Executive for his
      on-call status with regard to managing employees located around the world and
      recognizing that the Executive’s hours of specific work for the company are not
      limited to any specific range of time during a work day but can be accomplished
      around the clock and on weekends and/or holidays if deemed necessary by the
      Chief Executive Officer or the Executive himself, and certain responsibilities
      of Executives responsibilities, as approved by the Chief Executive Officer,
      may
      be done at any physical location including Executive’s home. As approved by the
      Chief Executive Officer the company may establish full home computer system
      and
      access communications capabilities for Executive as deemed necessary by mutual
      agreement of the Chief Executive Officer and Executive. 

    

    (c)
      Notwithstanding paragraph 2(b), Executive shall be entitled to sit as a director
      on other boards of directors so long as doing so presents no conflict of
      interest with Executive's performance of his duties or his positions at the
      Company, as determined and approved by the board of directors. 

    

    3.  
        Compensation.

    

    (a)
      Base
      Salary. The Company shall pay to Executive during the Term
      of
      Employment a minimum salary at the rate of One Hundred NinetyThousand dollars
      ($190,000.00) per year and agrees that such salary shall be reviewed annually
      by
      the independent compensation committee to insure that the Executive’s
      compensation package remains reasonably competitive to the market for executives
      in similar companies. 

    

    Such
      salary shall be payable Bi-Weekly, Semi-monthly, or monthly in accordance with
      the Company's normal payroll procedures. (Executive's annual salary, as set
      forth above or as it may be increased from time to time as set forth herein,
      shall be referred to hereinafter as "Base Salary"). At no time during the Term
      of Employment shall Executive's Base Salary be decreased from the amount of
      Base
      Salary then in effect.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (b)
      Performance Bonus. In addition to the compensation otherwise payable to
      Executive pursuant to this Agreement, Executive shall be eligible to receive
      performance bonus(es) as determined and agreed to from time to time by the
      Chief
      Executive Officer and the Board of Directors. 

    

    (c)
      Long
      Term Incentive/Stock Options. Upon execution of this Agreement which was
      approved by the Compensation Committee and recommended to the board of directors
      and then approved by the board of directors, the board of directors will take
      action to grant Executive 25,000 S8 registered stock options to purchase the
      common stock of the Company, every quarter during the term of this Agreement,
      beginning the date that this Agreement is signed, and then on the first day
      of
      every quarter thereafter. Thus, the total options to be granted to Executive
      under this Agreement shall be 200,000 (8 quarters x 25,000). These options
      are
      subject to the Company’s Employee Stock and Stock Option plan and shall be three
      (3) year options with a strike price equal to the greater of $2 or the closing
      last trade price on the date of each grant by the board of directors. All
      quarterly grants are limited in quantity to insure that the covenant of the
      Company with Cornell Capital, not to issue more than 300,000 shares of equity
      securities in any one quarter. The number of options not granted for any one
      quarter pursuant to this limitation will be carried forward and granted the
      next
      quarter if the limitation is not exceeded including such carried forward shares.
      Any of these 200,000 options not granted by the beginning of the 8th
      quarter
      or the end of this agreement shall be granted in future quarters to the extent
      such grants do not exceed the Cornell limitation. 

    

    4.  
        Benefits
      During the Term of Employment:

    

    (a)
      Executive shall be eligible to participate in any life, health and long-term
      disability insurance programs, pension and retirement programs, stock option
      and
      other incentive compensation programs, and other fringe benefit programs made
      available to senior executive employees of the Company from time to time, and
      Executive shall be entitled to receive such other fringe benefits as may be
      granted to him from time to time by the Company's Board of Directors including
      but not necessarily limited to a corporate lease vehicle approved by the Chief
      Executive Officer.

    

    (b)
      Executive shall be allowed four (4) weeks of vacation with pay on the same
      basis
      as other senior executive employees of the Company. Executive shall devote
      his
      full time and attention to such duties, except for sick leave, and excused
      leaves of absences otherwise.

    

    (c)
      The
      Company shall reimburse Executive for reasonable business expenses incurred
      in
      performing Executive's duties and promoting the business of the Company,
      including, but not limited to, reasonable entertainment expenses, travel and
      lodging expenses, following presentation of documentation in accordance with
      the
      Company's business expense reimbursement policies. 

     

    (d)
      Executive shall be added as an additional named insured under all liability
      insurance policies now in force or hereafter obtained covering any officer
      or
      director of the Company in his or her capacity as an officer or director.
      Company shall indemnify Executive in his capacity as an officer or director
      and
      hold him harmless from any cost, expense or liability arising out of or relating
      to any acts or decisions made by him on behalf of or in the course of performing
      services for the Company.

    

    5.  
        Term;
      Termination of Employment. As used herein, the phrase "Term of Employment"
      shall
      mean the period commencing on the Effective Date and ending on the same date
      two
      (2) years later; provided, however, that as of the expiration date of each
      of
      (i) the initial Term of Employment and (ii) if applicable, any Renewal Period
      (as defined below), the Term of Employment shall automatically be extended
      for a
      one (1) year period (each a "Renewal Period") unless either the Company or
      Executive provides Two (2) months' notice to the contrary. Notwithstanding
      the
      foregoing, the Term of Employment shall expire on the first to occur of the
      following:

    (a)
      Termination by the Company. Notwithstanding anything to the contrary in this
      Agreement, whether express or implied, the Company may, at any time, terminate
      Executive's employment for any reason other than Cause, Death or Disability
      by
      giving Executive at least 60 days' prior written notice of the effective date
      of
      termination. Company may terminate Employee's employment for Cause, Death or
      Disability without prior notice, except that Executive may not be terminated
      for
      substantial and willful failure to perform specific and lawful directives of
      the
      Board, unless and until the Board has given him reasonable written notice of
      its
      intended actions and specifically describing the alleged events, activities
      or
      omissions giving rise thereto and with respect to those events, activities
      or
      omissions for which a cure is possible, a reasonable opportunity to cure such
      breach; and provided further, however, that for purposes of determining whether
      Cause is present, no act or failure to act by Executive shall be considered
      "willful" if done or omitted to be done by Executive in good faith and in the
      reasonable belief that such act or omission was in the best interest of the
      Company and/or required by applicable law. The terms "Cause" and "Disability"
      shall have the meaning given them under the Separation and Severance
      Agreement.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (b)
      Termination by Executive. In the event that Executive's employment with the
      Company is voluntarily terminated by Executive, the Company shall have no
      further obligation hereunder from and after the effective date of termination
      except as may be provided in the Separation and Severance Agreement and the
      Company shall have all other rights and remedies available under this Agreement
      or any other agreement and at law or in equity. Executive shall give the Company
      at least 30 days' advance written notice of his intention to terminate his
      employment hereunder.

    (c)
      Salary, Benefits, and Severance Pay Upon Termination. In the event of
      termination of employment, Executive shall receive all regular Base Salary
      due
      up to the date of termination, and if it has not previously been paid to
      Executive, Executive shall be paid any Bonus to which Executive had become
      entitled under Bonus(es) approved for Executive, prior to the effective date
      of
      such termination. The Company shall have no further obligation hereunder from
      and after the effective date of termination except as may be provided in the
      Separation and Severance Agreement and the Company shall have all other rights
      and remedies available under this Agreement or any other agreement and at law
      or
      in equity. 

    

    Executive's
      stock options with respect to the Company's stock shall be subject to the terms
      of the Hyperdynamics’ Employee Stock and Stock Option Plan or any successor
      plan, which is a separate agreement. In the event of termination, Executive's
      rights to benefits other than severance shall be governed by the terms of the
      Company's retirement, insurance and other benefit plans and programs then in
      effect in accordance with the terms of such plans. Executive's right to
      severance benefits, if any, shall be governed by the terms of the Separation
      and
      Severance Agreement attached hereto as Exhibit A (the "Severance Agreement");
      provided, however, the Executive, as the Chief Executive, shall be entitled
      to
      de novo review of any material violation of this Severance Agreement, or denial
      of any claim, or eligibility for any claim thereunder exclusively as provided
      in
      the Resolution of Dispute provisions of section 12 of this Employment Agreement.
      The Severance Agreement is incorporated in this Agreement by reference and
      is
      hereby made a part of this Agreement as if fully set forth herein.

    

    6.  
        Confidential
      Information, Non-Solicitation and Non-Competition.

    

    (a)
      During the Term of Employment and at all times thereafter, Executive shall
      not,
      except as may be required to perform his duties hereunder or as required by
      applicable law, disclose to others or use, whether directly or indirectly,
      any
      Confidential Information regarding the Company. "Confidential Information"
      shall
      mean information about the Company, its subsidiaries and affiliates, and their
      respective clients and customers that is not available to the general public.
      

     

    7.  
        Return of Company
      Documents: In the event Executive leaves the employment of Company for whatever
      reason, Executive agrees to deliver to Company any and all property situated
      on
      Company's premises and owned by Company including disks and other storage media,
      filing cabinets or other work areas, is subject to inspection by Company
      personnel at any time, with or without notice, for the purpose of protecting
      Company's rights and interests in its intellectual property.

    

    8.  
        Taxes. All payments
      to be made to Executive under this Agreement will be subject to any applicable
      withholding of federal, state and local income and employment taxes. Any
      withholding regarding exercise of stock options will be determined by including
      an opinion of a third party tax attorney paid by the company as pertaining
      to
      any withholding that may be required or not required. 

    

    9.  
        Miscellaneous. This
      Agreement shall also be subject to the following miscellaneous
      considerations:

    (a)
      Executive and the Company each represent and warrant to the other that he or
      it
      has the authorization, power and right to deliver, execute, and fully perform
      his or its obligations under this Agreement in accordance with its
      terms.

    (b)
      This
      Agreement (including attached Exhibit A) contains a complete statement of all
      the arrangements between the parties with respect to Executive's employment
      by
      the Company, this Agreement supersedes all prior and existing negotiations
      and
      agreements between the parties concerning Executive's employment, and this
      Agreement can only be changed or modified pursuant to a written instrument
      duly
      executed by each of the parties hereto.

    (c)
      If
      any provision of this Agreement or any portion thereof is declared invalid,
      illegal, or incapable of being enforced by any court of competent jurisdiction,
      the remainder of such provisions and all of the remaining provisions of this
      Agreement shall continue in full force and effect.

    (d)
      This
      Agreement shall be governed by and construed in accordance with the internal,
      domestic laws of the State of Texas.

    (e)
      Any
      rights of Executive hereunder shall be in addition to any rights Executive
      may
      otherwise have under benefit plans, agreements, or arrangements of the Company
      to which he is a party or in which he is a participant, including, but not
      limited to, any Company-sponsored employee benefit plans. Provisions of this
      Agreement shall not in any way abrogate Executive's rights under such other
      plans, agreements, or arrangements.

    (f)
      For
      the purpose of this Agreement, notices and all other communications provided
      for
      in this Agreement shall be in writing and shall be deemed to have been duly
      given when delivered or mailed by United States certified or registered mail,
      return receipt requested, postage prepaid, addressed to the named Executive
      at
      the address set forth below under his signature; provided that all notices
      to
      the Company shall be directed to the attention of the Board of Directors with
      a
      copy to the Secretary of the Company, or to such other address as either party
      may have furnished to the other in writing in accordance herewith, except that
      notice of change of address shall be effective only upon receipt.

    (g)
      Section headings in this Agreement are included herein for convenience of
      reference only and shall not constitute a part of this Agreement for any other
      purpose.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    (h)
      Failure to insist upon strict compliance with any of the terms, covenants,
      or
      conditions hereof shall not be deemed a waiver of such term, covenant, or
      condition, nor shall any waiver or relinquishment of, or failure to insist
      upon
      strict compliance with, any right or power hereunder at any one or more times
      be
      deemed a waiver or relinquishment of such right or power at any other time
      or
      times.

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

    

    10.
  Survival
      of Provisions:
      The executory provisions of this Agreement will survive the termination of
      this
      Agreement.

    

    

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement as of
      the
      day and year first above written.

    

    
      	
              EXECUTIVE

            	 	
              COMPANY

            
	 	 	 
	 	 	
              HYPERDYNAMICS
                CORPORATION

            

    

     

    
      	
              BY:

            	 	BY:
	
              /s/
                HARRY JAMES BRIERS

            	 	
              /s/
                KENT P. WATTS

            
	
              HARRY
                JAMES BRIERS

            	 	KENT
              P. WATTS
	
              TITLE:

            	 	TITLE:
	
              EXECUTIVE
                VICE PRESIDENT

            	 	CHIEF
              EXECUTIVE OFFICER

    

     

    
      	
              ADDRESS:

            	 	ADDRESS:
	
              2203
                Biscayne Court

            	 	
              One
                Sugar Creek Center Boulevard

            
	
              Sugar
                Land, TX 77478

            	 	Suite
              125
	 	 	Sugar
              Land, Texas 77478Unassociated Document

    
      

    

    Exhibit
      10.13 Addendum to Employment Agreement of Harry Briers

    

    EXECUTIVE
      VICE PRESIDENT SEPARATION AND SEVERANCE AGREEMENT

    

    THIS
      SEPARATION AND SEVERANCE AGREEMENT (the "Severance Agreement") is made a part
      of
      that Employment Agreement (the "Employment Agreement"), entered into and
      effective as of the 9th
      day of
      October, 2006, by and between HARRY JAMES BRIERS, an individual resident of
      the
      State of Texas ("Executive"), and HYPERDYNAMICS CORPORATION, a Delaware
      corporation (the "Company").

    

    W
      I T N E
      S S E T H:

    

    WHEREAS,
      the Company desires to employ Executive and to provide for severance benefits
      under the terms and conditions set forth herein; and

    

    WHEREAS,
      this Severance Agreement constitutes part of the Employment Agreement and is
      incorporated therein by reference and fully set forth therein.

    

    COVENANTS

    

    NOW,
      THEREFORE, in consideration of the premises, mutual promises contained herein,
      and other valuable consideration, the receipt and sufficiency of which are
      hereby acknowledged, the parties agree as follows:

    

    1.   Certain
      Definitions. The following terms shall have the meanings set forth
      herein.

     

    
      	
            	(a)	
              "Administrator"
                shall mean the Company. The Company shall also be the "named fiduciary"
                hereunder. The Company shall have the authority to designate one
                or more
                of its officers, employees or directors to act on its behalf in
                administering this Severance
                Agreement.

            

    

    

    
      	
            	(b)	
              "Base
                Salary" shall mean Executive's regular pay at the time of termination.
                Base Salary shall not include bonus or incentive plans, overtime
                pay,
                relocation allowances or the value of any other benefits for which
                Executive may be eligible.

            

    

    

    
      	
            	(c)	
              "Good
                Reason" shall mean, without the express written consent of Executive,
                the
                occurrence of any of the following events unless such events are
                fully
                corrected within 30 days following written notification by Executive
                to
                the Company that he intends to terminate his employment hereunder
                for one
                of the reasons set forth below:

            

    

    

    (i)
      a
      material breach by the Company of any provision of this Agreement, including,
      but not limited to, the assignment to Executive of any duties inconsistent
      with
      Executive's position in the Company or a material adverse alteration in the
      nature or status of Executive's responsibilities; 

    (ii)
      the
      Company's requiring the Executive to be based anywhere other than the
      metropolitan area where he currently works and resides; and

    (iii)
      the
      occurrence of a "Change in Control" as defined below.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    For
      purposes of this Agreement a "Change in Control" shall mean an event as a result
      of which: (i) any "person" (as such term is used in Sections 13(d) and 14(d)
      of
      the Securities Exchange Act of 1934 (the "Exchange Act")), is or becomes the
      "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act, except
      that
      a person shall be deemed to have "beneficial ownership" of all securities that
      such person has the right to acquire, whether such right is exercisable
      immediately or only after the passage of time), directly or indirectly, of
      more
      than 50% of the total voting power of the voting stock of the Company; (ii)
      the
      Company consolidates with, or merges with or into another corporation or sells,
      assigns, conveys, transfers, leases or otherwise disposes of all or
      substantially all of its assets to any person, or any corporation consolidates
      with, or merges with or into, the Company, in any such event pursuant to a
      transaction in which the outstanding voting stock of the Company is changed
      into
      or exchanged for cash, securities or other property, other than any such
      transaction where (A) the outstanding voting stock of the Company is changed
      into or exchanged for (i) voting stock of the surviving or transferee
      corporation or (ii) cash, securities (whether or not including voting stock)
      or
      other property, and (B) the holders of the voting stock of the Company
      immediately prior to such transaction own, directly or indirectly, not less
      than
      50% of the voting power of the voting stock of the surviving corporation
      immediately after such transaction; or (iii) during any period of two
      consecutive years, individuals who at the beginning of such period constituted
      the Board of the Company (together with any new directors whose election by
      such
      Board or whose nomination for election by the stockholders of the Company was
      approved by a vote of 66-2/3% of the directors then still in office who were
      either directors at the beginning of such period or whose election or nomination
      for election was previously so approved) cease for any reason to constitute
      a
      majority of the Board of the Company then in office; or (iv) the Company is
      liquidated or dissolved or adopts a plan of liquidation, provided, however,
      that
      a Change in Control shall not include any going private or leveraged buy-out
      transaction which is sponsored by Executive or in which Executive acquires
      an
      equity interest materially in excess of his equity interest in the Company
      immediately prior to such transaction (each of the events described in (i),
      (ii), (iii) or (iv) above, except as provided otherwise by the preceding clause
      being referred to herein as a "Change in Control"). In the event of a sale
      of
      the assets or stock of the Company, the Executive shall have the option of
      electing to terminate his employment due to a Change in Control and receive
      such
      severance benefits or electing to remain employed under the terms of this
      Agreement, but not both. Executive's right to terminate his employment for
      Good
      Cause due to any "Change in Control" must be exercised within sixty (60) days
      after receiving written notice or his receiving actual knowledge of such Good
      Cause.

    (d)
      Cause
      shall mean:

    (i)
      fraud, misappropriation, embezzlement, or other act of material misconduct
      against the Company or any of its affiliates;

    (ii)
      substantial and willful failure to perform specific and lawful directives of
      the
      Board;

    (iii)
      willful and knowing violation of any rules or regulations
      of any governmental or regulatory body, which is materially
      injurious to the financial condition of the Company; or

    (iv)
      conviction of or plea of guilty or nolo contendere to a
      felony;

    (v)
      a
      material breach of the terms and conditions of this Agreement: provided,
      however, that with regard to subparagraphs (ii) and (v) above, Executive may
      not
      be terminated for Cause unless and until the Board has given him reasonable
      written notice of its intended actions and specifically describing the alleged
      events, activities or omissions giving rise thereto and with respect to those
      events, activities or omissions for which a cure is possible, a reasonable
      opportunity to cure such breach; and provided further, however, that for
      purposes of determining whether any such Cause is present, no act or failure
      to
      act by Executive
      shall be considered "willful" if done or omitted to be done by Executive in
      good
      faith and in the reasonable belief that such act or omission was in the best
      interest of the Company and/or required by applicable law.

    

    (e)
      Disability shall mean that as a result of Executive's incapacity due to physical
      or mental illness (as determined in good faith by a physician acceptable to
      the
      Company and Executive), Executive shall have been absent from the full-time
      performance of his duties with the Company for 120 consecutive days during
      any
      twelve (12) month period or if a physician acceptable to the Company and
      Executive advises the Company that it is likely that Executive will be unable
      to
      return to the full-time performance of his duties for 120 consecutive days
      during the succeeding twelve (12) month period.

    

    2.
      Responsibility for Benefits. The Company will pay the entire cost of all
      benefits provided under this Severance Agreement, solely from its general
      assets. The benefits made available by this Severance Agreement are "unfunded,"
      and Executive is not required or permitted to make any contribution with respect
      to this Severance Agreement.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3.
      Payment of Benefits. In the event Executive's employment is terminated (a)
      by
      the Company other than for Cause, Disability or Death or (b) by Executive for
      Good Reason (as defined herein), Executive shall receive the following severance
      benefits upon his satisfaction of the condition in paragraph 4 hereof:

    

    His
      Base
      Salary during the period commencing on the effective date of such termination
      and ending one (1) year later (the "Salary Continuation Period"), as if
      Executive were still employed during the Salary Continuation Period; and

    

    

    4.
      Conditions to Receipt of Benefits. Upon the occurrence of an event described
      in Section 3 above, Executive will be eligible for severance benefits to begin
      immediately. 

    

    5.
      Termination Events Not Covered. Notwithstanding anything to the contrary
      contained herein, the Company shall not pay Executive severance benefits under
      this Severance Agreement if:

    

    (a)
      Executive terminates his employment with Company for a reason other than Good
      Reason as defined herein; or

    

    (b)
      Executive revokes his agreement to release the Company from any and all claims
      related to his employment pursuant to the Settlement Agreement and Release
      executed.

    

    6.
      How
      Severance Benefits Are Paid. The Company will pay severance benefits in
      installments through the Company's regular payroll procedure according to
      Executive's pay schedule at the time of termination of employment; provided
      however, the Administrator shall have the discretion to cause the Company to
      pay
      all severance benefits in a lump sum payment. Executive's severance benefits
      shall be subject to mandatory withholding, including federal, state and local
      income taxes, as well as FICA and withholding.

     

    7.
      Additional Information Regarding this Severance Agreement.

    

    (a)
      This
      Severance Agreement shall not be amended except by a written agreement executed
      by Executive and by an authorized officer of the Company (other than
      Executive).

    

    (b)
      The
      Employment Agreement and this Severance Agreement provides the sole and
      exclusive agreement concerning severance benefits for Executive in the event
      of
      a termination and replaces any and all prior plans, policies and practices
      relating to severance pay that may exist now or may have existed in the
      past.

    

    (c)
      To
      the extent not preempted by ERISA, the Employment Agreement and this Severance
      Agreement shall be governed by and construed according to the laws of the state
      of Texas.

    

    (d)
      If a
      provision of this Severance Agreement shall be held illegal or invalid, the
      legality or invalidity shall not affect the remaining provisions of this
      Severance Agreement, and this Severance Agreement shall be construed and
      enforced as if the illegal or invalid provision had not been
      included.

     

    (e)
      Executive acknowledges that no representation, promise or inducement has been
      made other than as set forth in the Employment Agreement and this Severance
      Agreement, and that he does not enter into this Employment Agreement and
      Severance Agreement in reliance upon any representation, promise or inducement
      not set forth herein and the Employment Agreement. The Employment Agreement
      and
      this Severance Agreement supersedes all prior negotiations and understandings
      of
      any kind with respect to the subject matter and contains all of the terms and
      provisions of the agreement between Executive and the Company with respect
      to
      the subject matter hereof. Any representation, promise or condition, whether
      written or oral, not specifically incorporated herein, shall be of no binding
      effect.

    

    
      	 	
              Agent
                For Service of Legal Process:   HYPERDYNAMICS
                CORPORATION

            
	 	 	 	 	 
	 	 	
              Attention:
                Secretary

            	 	 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the parties hereto have executed this Severance Agreement
      as of the date first set forth above.

    

    
      	
              EXECUTIVE:

            	 	
              COMPANY:

            	 
	 	 	 	 
	 	 	
               

            
	
              By:
                /s/ Kent P. Watts

            	 	
              By:
                /s/ Harry J. Briers

            	 
	
              EXECUTIVE

            	 	
              HYPERDYNAMICS
                CORPORATION

            	 
	
              Harry
                J. Briers

            	 	
              Kent
                P. Watts

            	 
	
              Executive
                Vice President

            	 	
              Chief
                Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]