Document:

Exhibit
10.1

    EMPLOYMENT
AGREEMENT

    

    This Employment Agreement is made and
entered into effective as of February 24, 2010 (the “Effective Date”), by and
between Neoprobe Corporation,
a Delaware Corporation with a place of business at 425 Metro Place North,
Suite 300, Dublin, Ohio 43017-1367 (the “Company”) and Frederick O. Cope of
Westerville, Ohio (the “Employee”).

    

    WHEREAS, the Company and the Employee
entered into an Employment Agreement effective as of January 19, 2009 (the “2009
Employment Agreement”); and

    

    WHEREAS, the Company and the Employee
wish to establish new terms, covenants, and conditions for the Employee’s
continued employment with the Company through this agreement (“Employment
Agreement”).

    

    NOW, THEREFORE, in consideration of the
mutual agreements herein set forth, the parties hereto agree as
follows:

    

    
      	
               
      

            	
              1.

            	
              Duties.

            	
              From
      and after the Effective Date, and based upon the terms and conditions set
      forth herein, the Company agrees to employ the Employee and the Employee
      agrees to be employed by the Company, as Vice-President, Pharmaceutical
      Research and Clinical Development of the Company and in such equivalent,
      additional or higher executive level position or positions as shall be
      assigned to him by the Company’s President and CEO.  While
      serving in such executive level position or positions, the Employee shall
      report to, be responsible to, and shall take direction from the President
      and CEO of the Company.  During the Term of this Employment
      Agreement (as defined in Section 2 below), the Employee agrees to devote
      substantially all of his working time to the position he holds with the
      Company and to faithfully, industriously, and to the best of his ability,
      experience and talent, perform the duties that are assigned to
      him.  The Employee shall observe and abide by the reasonable
      corporate policies and decisions of the Company in all business matters
      disclosed to employee.

            

    

    

    
      	
               
      

            	
              The
      Employee represents and warrants to the Company that Exhibit A attached
      hereto sets forth a true and complete list of (a) all offices,
      directorships and other positions held by the Employee in corporations and
      firms other than the Company and its subsidiaries and (b) any investment
      or ownership interest in any corporation or firm other than the Company
      beneficially owned by the Employee (excluding investments in life
      insurance policies, bank deposits, publicly traded securities that are
      less than five percent (5%) of their class and real estate). The Employee
      will promptly notify the Board of Directors of the Company of any
      additional positions undertaken or investments made by the Employee during
      the Term of this Employment Agreement if they are of a type that if they
      had existed on the date hereof, should have been listed on Exhibit A
      hereto.  As long as the Employee’s other positions or
      investments in other firms do not create a conflict of interest, violate
      the Employee’s obligations under Section 7 below or cause the Employee to
      neglect his duties hereunder, such activities and positions shall not be
      deemed to be a breach of this Employment
  Agreement.

            

    

    

    
    

    
      
        	
                 
      

              	
                2.

              	
                      
                  Term of this Employment
      Agreement.  Subject to Sections 4 and 5 hereof, the Term
      of this Employment Agreement shall be for a period of time commencing on
      February 15, 2010 and terminating on December 31,
      2010.

                

              

      

       

    

    
      	
               
      

            	
              3.

            	
              Compensation.  During
      the Term of this Employment Agreement, the Company shall pay, and the
      Employee agrees to accept as full consideration for the services to be
      rendered by the Employee hereunder, compensation consisting of the
      following:

            

    

    

    
      	
              A.  

            	
              Salary.  Beginning
      on the first day of the Term of this Employment Agreement, the Company
      shall pay the Employee a salary of Two Hundred Eleven Thousand Dollars
      ($211,000) per year, payable in semi-monthly or monthly installments as
      requested by the Employee.  Further, the Company agrees to
      review the Employee’s base salary on an annual
  basis.

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              B.  

            	
              Bonus.  The
      Compensation, Nominating and Governance Committee (the “Committee) of the
      Board of Directors will, on an annual basis, review the performance of the
      Company and of the Employee and will pay such bonus, as it deems
      appropriate, in its discretion, to the Employee based upon such
      review.  Such review and bonus shall be consistent with any
      bonus plan adopted by the Committee, which covers the executive officers
      and employees of the Company
generally.

            

    

    

    
      	
              C.  

            	
              Benefits.  During
      the Term of this Employment Agreement, the Employee will receive such
      employee benefits as are generally available to all employees of the
      Company.

            

    

    

    
      	
              D.  

            	
              Stock
      Options.  The Committee of the Board of Directors may,
      from time-to-time, grant stock options, restricted stock purchase
      opportunities and such other forms of stock-based incentive compensation
      as it deems appropriate, in its discretion, to the Employee under the
      Company’s Second Amended and Restated 2002 Stock Incentive Plan (the “2002
      Plan”).  The terms of the relevant award agreements shall govern
      the rights of the Employee and the Company thereunder in the event of any
      conflict between such agreement and this Employment
    Agreement.

            

    

    

    
      	
              E.  

            	
              Vacation.  The
      Employee shall be entitled to twenty (20) days of vacation during each
      calendar year during the Term of this Employment
  Agreement.

            

    

    

    
      	
              F.  

            	
              Expenses.  The
      Company shall reimburse the Employee for all reasonable out-of-pocket
      expenses incurred by him in the performance of his duties hereunder,
      including expenses for travel, entertainment and similar items, promptly
      after the presentation by the Employee, from time-to-time, of an itemized
      account of such expenses.

            

    

    

    
      	
              4.  

            	
              Termination.

            

    

    

    
      	
              A.  

            	
              For
      Cause.  The Company may terminate the employment of the
      Employee prior to the end of the Term of this Employment Agreement “for
      cause.” Termination “for cause” shall be defined as a termination by the
      Company of the employment of the Employee occasioned by the failure by the
      Employee to cure a willful breach of a material duty imposed on the
      Employee under this Employment Agreement within 15 days after written
      notice thereof by the Company or the continuation by the Employee after
      written notice by the Company of a willful and continued neglect of a duty
      imposed on the Employee under this Employment Agreement.  In the
      event of termination by the Company “for cause,” all salary, benefits and
      other payments shall cease at the time of termination, and the Company
      shall have no further obligations to the
  Employee.

            

    

    

    
      	
              B.  

            	
              Resignation.  If
      the Employee resigns for any reason, all salary, benefits and other
      payments (except as otherwise provided in paragraph G of this Section 4
      below) shall cease at the time such resignation becomes
      effective.  At the time of any such resignation, the Company
      shall pay the Employee the value of any accrued but unused vacation time,
      and the amount of all accrued but previously unpaid base salary through
      the date of such termination.  The Company shall promptly
      reimburse the Employee for the amount of any expenses incurred prior to
      such termination by the Employee as required under paragraph F of Section
      3 above.

            

    

    

    
      	
              C.  

            	
              Disability, Death.  The
      Company may terminate the employment of the Employee prior to the end of
      the Term of this Employment Agreement if the Employee has been unable to
      perform his duties hereunder or a similar job for a continuous period of
      six (6) months due to a physical or mental condition that, in the opinion
      of a licensed physician, will be of indefinite duration or is without a
      reasonable probability of recovery for a period of at least six (6)
      months.  The Employee agrees to submit to an examination by a
      licensed physician of his choice in order to obtain such opinion, at the
      request of the Company, made after the Employee has been absent from his
      place of employment for at least six (6) months.  The Company
      shall pay for any requested examination.  However, this
      provision does not abrogate either the Company’s or the Employee’s rights
      and obligations pursuant to the Family and Medical Leave Act of 1993, and
      a termination of employment under this paragraph C shall not be deemed to
      be a termination for cause.

            

    

    

    
      
         

      

      
        - 2
-

        
          

        

      

      
         

      

    

    If during
the Term of this Employment Agreement, the Employee dies or his employment is
terminated because of his disability, all salary, benefits and other payments
shall cease at the time of death or disability, provided, however, that the
Company shall provide such health, dental and similar insurance or benefits as
were provided to Employee immediately before his termination by reason of death
or disability, to Employee or his family for the longer of twelve (12) months
after such termination or the full un-expired Term of this Employment Agreement
on the same terms and conditions (including cost) as were applicable before such
termination.  In addition, for the first six (6) months of disability,
the Company shall pay to the Employee the difference, if any, between any cash
benefits received by the Employee from a Company-sponsored disability insurance
policy and the Employee’s salary hereunder in accordance with paragraph A of
Section 3 above.  At the time of any such termination, the Company
shall pay the Employee, the value of any accrued but unused vacation time, and
the amount of all accrued but previously unpaid base salary through the date of
such termination.  The Company shall promptly reimburse the Employee
for the amount of any expenses incurred prior to such termination by the
Employee as required under paragraph F of Section 3 above.

    

    Notwithstanding the foregoing, if the Company reasonably
determines that any of the benefits described in this paragraph C may not be
exempt from federal income tax, then for a period of six (6) months after the
date of the Employee’s termination, the Employee shall pay to the Company an
amount equal to the stated taxable cost of such coverages. After the expiration
of the six-month period, the Employee shall receive from the Company a
reimbursement of the amounts paid by the Employee.

    

    
      	
              D.  

            	
              Termination without
      Cause.  A termination without cause is a termination of
      the employment of the Employee by the Company that is not “for cause” and
      not occasioned by the resignation, death or disability of the
      Employee.  If the Company terminates the employment of the
      Employee without cause, (whether before the end of the Term of this
      Employment Agreement or, if the Employee is employed by the Company under
      paragraph E of this Section 4 below, after the Term of this Employment
      Agreement has ended) the Company shall, at the time of such termination,
      pay to the Employee the severance payment provided in paragraph F of this
      Section 4 below together with the value of any accrued but unused vacation
      time and the amount of all accrued but previously unpaid base salary
      through the date of such termination and shall provide him with all of his
      benefits under paragraph C of Section 3 above for the longer of twelve
      (12) months or the full un-expired Term of this Employment
      Agreement.  The Company shall promptly reimburse the Employee
      for the amount of any expenses incurred prior to such termination by the
      Employee as required under paragraph F of Section 3
  above.

            

    

    

    If the
Company terminates the employment of the Employee because it has ceased to do
business or substantially completed the liquidation of its assets or because it
has relocated to another city and the Employee has decided not to relocate also,
such termination of employment shall be deemed to be without cause.

    

    
      	
               
      E.  

            	
              End of the Term of this
      Employment Agreement.  Except as otherwise provided in
      paragraphs F and G of this Section 4 below, the Company may terminate the
      employment of the Employee at the end of the Term of this Employment
      Agreement without any liability on the part of the Company to the Employee
      but, if the Employee continues to be an employee of the Company after the
      Term of this Employment Agreement ends, his employment shall be governed
      by the terms and conditions of this Agreement, but he shall be an employee
      at will and his employment may be terminated at any time by either the
      Company or the Employee without notice and for any reason not prohibited
      by law or no reason at all.  If the Company terminates the
      employment of the Employee at the end of the Term of this Employment
      Agreement, the Company shall, at the time of such termination, pay to the
      Employee the severance payment provided in paragraph F of this Section 4
      below together with the value of any accrued but unused vacation time and
      the amount of all accrued but previously unpaid base salary through the
      date of such termination. The Company shall promptly reimburse the
      Employee for the amount of any reasonable expenses incurred prior to such
      termination by the Employee as required under paragraph F of Section 3
      above.

            

    

    
      

      
        
           

        

        
          - 3
-

          
            

          

        

        
           

        

      

      
        	
                   F.  

              	
                      
                  Severance.  If
      the employment of the Employee is terminated by the Company, at the end of
      the Term of this Employment Agreement or, without cause (whether before
      the end of the Term of this Employment Agreement or, if the Employee is
      employed by the Company under paragraph E of this Section 4 above, after
      the Term of this Employment Agreement has ended), the Employee shall be
      paid, as a severance payment at the time of such termination, the amount
      of Two Hundred Eleven Thousand Dollars ($211,000) together with the value
      of any accrued but unused vacation
  time.

                

              

      

       

    

    
      	
              G.  

            	
              Change of Control
      Severance.  In addition to the rights of the Employee
      under the Company’s employee benefit plans (paragraphs C of Section 3
      above) but in lieu of any severance payment under paragraph F of this
      Section 4 above, if there is a Change in Control of the Company (as
      defined below) and the employment of the Employee is concurrently or
      subsequently terminated (a) by the Company without cause, (b) by the
      expiration of the Term of this Employment Agreement, or (c) by the
      resignation of the Employee because he has reasonably determined in good
      faith that his titles, authorities, responsibilities, salary, bonus
      opportunities or benefits have been materially diminished, that a material
      adverse change in his working conditions has occurred, that his services
      are no longer required in light of the Company’s business plan, or the
      Company has breached this Employment Agreement, the Company shall pay the
      Employee, as a severance payment, at the time of such termination, the
      amount of Four Hundred Twenty-Two Thousand Dollars ($422,000) together
      with the value of any accrued but unused vacation time, and the amount of
      all accrued but previously unpaid base salary through the date of
      termination and shall provide him with all of this benefits under
      paragraph C of Section 3 above for the longer of twelve (12) months or the
      full un-expired Term of this Employment Agreement. The Company shall
      promptly reimburse the Employee for the amount of any expenses incurred
      prior to such termination by the Employee as required under paragraph F of
      Section 3 above. Notwithstanding the
      foregoing, before the Employee may resign pursuant to Section 4(G)(c)
      above, the Employee shall deliver to the Company a written notice of the
      Employee’s intent to terminate his employment pursuant to Section 4(G)(c),
      and the Company shall have been given a reasonable opportunity to cure any
      such act, omission or condition within Thirty (30) days after the
      Company’s receipt of such
notice.

            

    

    

    For the
purpose of this Employment Agreement, a Change in Control of the Company has
occurred when:  (a) any person (defined for the purposes of this
paragraph G to mean any person within the meaning of Section 13 (d) of the
Securities Exchange Act of 1934 (the “Exchange Act”)), other than Neoprobe, an
employee benefit plan created by its Board of Directors for the benefit of its
employees, or a participant in a transaction
approved by its Board of Directors for the principal purpose of raising
additional capital, either directly or indirectly, acquires beneficial
ownership (determined under Rule 13d-3 of the Regulations promulgated by the
Securities and Exchange Commission under Section 13(d) of the Exchange Act) of
securities issued by Neoprobe having thirty percent (30%) or more of the voting
power of all the voting securities issued by Neoprobe in the election of
Directors at the next meeting of the holders of voting securities to be held for
such purpose; (b) a majority of the Directors elected at any meeting of the
holders of voting securities of Neoprobe are persons who were not nominated for
such election by the Board of Directors or a duly constituted committee of the
Board of Directors having authority in such matters; (c) the stockholders of
Neoprobe approve a merger or consolidation of Neoprobe with another person other
than a merger or consolidation in which the holders of Neoprobe’s voting
securities issued and outstanding immediately before such merger or
consolidation continue to hold voting securities in the surviving or resulting
corporation (in the same relative proportions to each other as existed before
such event) comprising eighty percent (80%) or more of the voting power for all
purposes of the surviving or resulting corporation; or (d) the stockholders of
Neoprobe approve a transfer of substantially all of the assets of Neoprobe to
another person other than a transfer to a transferee, eighty percent (80%) or
more of the voting power of which is owned or controlled by Neoprobe or by the
holders of Neoprobe’s voting securities issued and outstanding immediately
before such transfer in the same relative proportions to each other as existed
before such event.  The parties hereto agree that for the purpose of
determining the time when a Change of Control has occurred that if any
transaction results from a definite proposal that was made before the end of the
Term of this Employment Agreement but which continued until after the end of the
Term of this Employment Agreement and such transaction is consummated after the
end of the Term of this Employment Agreement, such transaction shall be deemed
to have occurred when the definite proposal was made for the purposes of the
first sentence of this paragraph G of this Section 4.

    

    
      
         

      

      
        - 4
-

        
          

        

      

      
         

      

    

    
      	
              H.  

            	
              Benefit and Stock
      Plans.  In the event that a benefit plan or Stock Plan
      which covers the Employee has specific provisions concerning termination
      of employment, or the death or disability of an employee (e.g., life insurance or
      disability insurance), then such benefit plan or Stock Plan shall control
      the disposition of the benefits or stock
  options.

            

    

    

    
      	
              5.  

            	
              Proprietary Information
      Agreement.  Employee has executed a Proprietary
      Information Agreement as a condition of employment with the
      Company.  The Proprietary Information Agreement shall not be
      limited by this Employment Agreement in any manner, and the Employee shall
      act in accordance with the provisions of the Proprietary Information
      Agreement at all times during the Term of this Employment
      Agreement.

            

    

    

    
      	
              6.  

            	
              Non-Competition.  Employee
      agrees that for so long as he is employed by the Company under this
      Employment Agreement and for one (1) year thereafter, the Employee will
      not:

            

    

    

    
      	
              A.  

            	
              enter
      into the employ of or render any services to any person, firm, or
      corporation, which is engaged, in any part, in a Competitive Business (as
      defined below);

            

    

    

    
      	
              B.  

            	
              engage
      in any directly Competitive Business for his own
  account;

            

    

    

    
      	
              C.  

            	
              become
      associated with or interested in through retention or by employment any
      Competitive Business as an individual, partner, shareholder, creditor,
      director, officer, principal, agent, employee, trustee, consultant,
      advisor, or in any other relationship or capacity;
  or

            

    

    

    
      	
              D.  

            	
              solicit,
      interfere with, or endeavor to entice away from the Company, any of its
      customers, strategic partners, or sources of
  supply.

            

    

    

    
      	
               
      

            	
              Nothing
      in this Employment Agreement shall preclude Employee from taking
      employment in the banking or related financial services industries nor
      from investing his personal assets in the securities or any Competitive
      Business if such securities are traded on a national stock exchange or in
      the over-the-counter market and if such investment does not result in his
      beneficially owning, at any time, more than one percent (1%) of the
      publicly-traded equity securities of such Competitive
      Business.  “Competitive Business” for purposes of this
      Employment Agreement shall mean any business or enterprise
      which:

            

    

    

    
      	
              a.  

            	
              is
      engaged in the development and/or commercialization of gamma radiation
      detection products and/or systems for use in intraoperative detection of
      cancer, or

            

    

    

    
      	
              b.  

            	
              reasonably
      understood to be competitive in the relevant market with products and/or
      systems described in clause a above,
    or

            

    

    

    
      	
              c.  

            	
              the
      Company engages in during the Term of this Employment Agreement pursuant
      to a determination of the Board of Directors and from which the Company
      derives a material amount of revenue or in which the Company has made a
      material capital investment.

            

    

    

    
      	
               
      

            	
              The
      covenant set forth in this Section 6 shall terminate immediately upon the
      substantial completion of the liquidation of assets of the Company or the
      termination of the employment of the Employee by the Company without cause
      or at the end of the Term of this Employment
  Agreement.

            

    

    

    
      
         

      

      
        - 5
-

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              7.

            	
              Arbitration.  Any
      dispute or controversy arising under or in connection with this Employment
      Agreement shall be settled exclusively by arbitration in Columbus, Ohio,
      in accordance with the non-union employment arbitration rules of the
      American Arbitration Association (“AAA”) then in effect.  If
      specific non-union employment dispute rules are not in effect, then AAA
      commercial arbitration rules shall govern the dispute.  If the
      amount claimed exceeds $100,000, the arbitration shall be before a panel
      of three arbitrators.  Judgment may be entered on the
      arbitrator’s award in any court having jurisdiction.  The
      Company shall indemnify the Employee against and hold him harmless from
      any attorney’s fees, court costs and other expenses incurred by the
      Employee in connection with the preparation, commencement, prosecution,
      defense, or enforcement of any arbitration, award, confirmation or
      judgment in order to assert or defend any right or obtain any payment
      under paragraph C of Section 4 above or under this sentence; without
      regard to the success of the Employee or his attorney in any such
      arbitration or proceeding.

            

    

    

    
      	
               
      

            	
              8.

            	
              Governing
      Law.  The Employment Agreement shall be governed by and
      construed in accordance with the laws of the State of
  Ohio.

            

    

    

    
      	
               
      

            	
              9.

            	
              Validity.  The
      invalidity or unenforceability of any provision or provisions of this
      Employment Agreement shall not affect the validity or enforceability of
      any other provision of the Employment Agreement, which shall remain in
      full force and effect.

            

    

    
      

      
        	
                 
      

              	
                10.

              	
                      
                  Compliance with Section 409A of
      the Internal Revenue Code.  If, when the Employee's employment
      with the Company terminates, the Employee is a "specified employee" as
      defined in Section 409A(a)(1)(B)(i) of the Internal Revenue Code, and if
      any payments under this Employment Agreement, including payments under
      Section 4, will result in additional tax or interest to the Employee under
      Section 409A(a)(1)(B) ("Section 409A Penalties"), then despite any
      provision of this Employment Agreement to the contrary, the Employee will
      not be entitled to payments until the earliest of (a) the date that is at
      least six months after termination of the Employee's employment for
      reasons other than the Employee's death, (b) the date of the Employee's
      death, or (c) any earlier date that does not result in Section 409A
      Penalties to the Employee.  As soon as practicable after the end
      of the period during which payments are delayed under this provision, the
      entire amount of the delayed payments shall be paid to the Employee in a
      lump sum.  Additionally, if any provision of this Employment
      Agreement would subject the Employee to Section 409A Penalties, the
      Company will apply such provision in a manner consistent with Section 409A
      of the Internal Revenue Code during any period in which an arrangement is
      permitted to comply operationally with Section 409A of the Internal
      Revenue Code and before a formal amendment to this Employment Agreement is
      required.  

                

              

      

       

      
        
          	
                   
      

                	
                  11.

                	
                        
                    Entire
      Agreement.  This Employment Agreement constitutes the
      entire understanding between the parties with respect to the subject
      matter hereof, superseding all negotiations, prior discussions, and
      preliminary agreements.  This Employment Agreement may not be
      amended except in writing executed by the parties
      hereto.

                  

                

        

        
          
            

            
              	
                       
      

                    	
                      12.

                    	
                            
                        Effect on Successors of
      Interest.  This Employment Agreement shall inure to the
      benefit of and be binding upon heirs, administrators, executors,
      successors and assigns of each of the parties
      hereto.  Notwithstanding the above, the Employee recognizes and
      agrees that his obligation under this Employment Agreement may not be
      assigned without the consent of the
  Company.

                      

                    

            

            
              

 

              
                
                   

                

                
                  - 6
-

                  
                    

                  

                

                
                   

                

              

            

          

        

      

    

    

    

    IN WITNESS WHEREOF, the
parties hereto have executed and delivered this Employment Agreement as of the
date first written above.

     

    
      	 NEOPROBE
      CORPORATION
      
              

              

              By:    
      /s/ David C.
      Bupp

                 David C. Bupp,
      President and CEO

            	      
              EMPLOYEE

              

              

              /s/ Frederick O.
      Cope

              Frederick
      O. Cope

            

    

     

     

    
      
         

      

      
        - 7
-

        
          

        

      

      
         

      

    

    Exhibit
A

    

    

    

    February
4, 2009 – February 27, 2009 – employed by OSU

    Member
– Emory University Scientific Advisory Board

    Ad
Hoc Member – FDA Scientific Advisory Panel

    Part
owner – Clue Genomics (50%)

    Part
owner – Theractics (20%)

    Member
– Board of Scientific Counselors, Premier Micronutrient

    

    

    
      NEOP
___________

      
        
        

      

      Fred Cope
________

    
      
         

      

      
        - 8
-Exhibit
10.23

    EXECUTIVE
EMPLOYMENT AGREEMENT

     

    Executive
Employment Agreement between Gran Tierra Energy Colombia Ltd., a Utah
partnership (the “Partnership”), Gran Tierra
Energy Inc., a Nevada corporation (“Gran Tierra”), Gran Tierra
Energy Cayman Islands Inc., a Cayman Islands company (“GTE Cayman”), and Julian
Antonio Garcia Salcedo (the “Executive”, collectively with
the Partnership, GTE Cayman and Gran Tierra, the “Parties”). The Partnership and
GTE Cayman are subsidiaries of Gran Tierra.

     

    Recitals:

     

    
      	
               
      

            	
              A.

            	
              The
      Executive has specialized knowledge skills and experience which are
      valuable to the ongoing success of the
business.

            

    

     

    
      	
               
      

            	
              B.

            	
              The
      Partnership and Gran Tierra wish to secure the services of the Executive
      for the position of President of the
  Partnership.

            

    

     

    
      	
               
      

            	
              C.

            	
              The
      Parties wish to set forth their entire understanding and agreement with
      respect to the subject matter with this Executive Employment Agreement
      (the “Agreement”).

            

    

     

    Therefore,
the Parties agree as follows:

     

    ARTICLE
1

    DUTIES
AND RESPONSIBILITIES

     

    1.1           Position

     

    The
Partnership appoints the Executive to the position of President of Gran Tierra
Energy Colombia and the Executive shall perform the duties and responsibilities
set out in Schedule “A” to this Agreement as well as those duties reasonably
assigned to the Executive by the Board of Directors of Gran Tierra (the “Board”) or the Board of
Directors of GTE Cayman. The Parties agree that the relationship between the
Partnership and the Executive created by this Agreement is that of employer and
employee.

     

    1.2           Other
Engagements

     

    The
Executive shall not engage in any other business, profession or occupation which
would conflict with the performance of his duties and responsibilities under
this Agreement, either directly or indirectly, including accepting appointments
to the boards of other companies without the prior written consent of the
Board.

     

    1.3           Reassignment
and Cooperation

     

    The
Executive shall not be reassigned to another position within the Partnership
itself, or to a position within another subsidiary or Gran Tierra, or other
affiliated or related corporate entity (a “Member Company” or “Member Companies”) and the
Executive’s duties, responsibilities, title, reporting lines and location of
employment will not be altered unless the Executive agrees to such reassignment
or alteration. The Executive may be appointed as the manager of Argosy Energy
LLC, the general partner of the Partnership. The Partnership will use reasonable
efforts to efficiently structure, and assist the Executive’s compliance with,
applicable payroll, labor, tax, social security legal requirements and the
Partnership may cause its Colombian branch to execute employment contracts with
the Executive, as needed for this purpose.

     

    1.4           Travel

     

    The
Executive shall be available for such business related travel as may be required
for the purposes of carrying out the Executive’s duties and responsibilities.
The Executive shall be entitled to fly business class for international flights
and shall use economy for domestic travel. The Executive will be entitled to
choose suitable accommodations when traveling on the Partnership’s or Gran
Tierra’s business.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
2

    TERM
OF EMPLOYMENT

     

    The
Executive’s employment with the Partnership is for no specified duration and
constitutes at-will employment. The Executive’s employment may be terminated at
any time by either the Partnership or the Executive, subject to the provisions
of Article 9.

     

    ARTICLE
3

    BASE
SALARY

     

    The
Executive will be paid an annual salary in the amount of $600,000,000 Colombian
pesos, subject to required withholdings (the “Base Salary”). The Executive’s
Base Salary will be payable in accordance with Partnership practices and
procedures as they may exist from time to time. Base Salary will be reviewed and
may be increased on an annual basis by the Partnership, with input from the
Executive.

     

    ARTICLE
4

    BONUS

     

    4.1           Bonus
Eligibility

     

    The
Executive shall be eligible to receive an annual bonus payment in addition to
Base Salary and other compensation for each year of the Executive’s employment.
The bonus target is 60% of the Executive’s base salary and the actual amount
will be determined by the Board annually.

     

    4.2           Bonus
Payment

     

    The Bonus
shall be payable within sixty (60) days of the end of the fiscal year, and will
based upon the Executive’s performance, the performance of Gran Tierra Energy
Colombia and the performance of Gran Tierra Energy Inc. during the preceding
year.

     

    ARTICLE
5

    BENEFITS

     

    The
Executive shall be entitled to participate in and to receive all rights and
benefits under any life insurance, disability, medical, dental, health and
accident plans maintained by Gran Tierra for the Partnership’s employees and for
its executives. The Partnership will continue to pay the Executive’s Base Salary
in the event the Executive becomes disabled until such time the Executive begins
to receive long-term disability insurance benefits.

     

    ARTICLE
6

    VACATION

     

    The
Executive will be entitled to four weeks of paid vacation per year. Payment of
all vacation pay will be at Base Salary. The Executive will arrange vacation
time to suit the essential business needs of the Partnership, GTE Cayman and
Gran Tierra. Unused vacation entitlement will be carried over into the following
calendar year to a maximum entitlement of six weeks in any one year. On leaving
the employment of the Partnership for whatever reason, the Partnership will
compensate the Executive for any accrued but unused vacation entitlement based
upon the Executive’s then current Base Salary.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    ARTICLE
7

    STOCK
OPTIONS

     

    The
Executive will be provided an initial stock options grant of 300,000 shares of
the common stock of Gran Tierra, in accordance with the terms and conditions of
the 2007 Gran Tierra Energy Equity Incentive Plan. The stock options will be
priced in accordance with the terms of the plan on the first date of employment
of the Executive with the Partnership. The Executive will be eligible to
participate in applicable future stock option plans and/or incentive award plans
created by Gran Tierra in accordance with their terms and
conditions.

     

    ARTICLE
8

    PERQUISITES
AND EXPENSES

     

    The
Partnership recognizes that the Executive will incur expenses in the performance
of the Executive’s duties. The Partnership shall reimburse the Executive for any
reasonable out of pocket expenses incurred in the course of
employment.

     

    8.1           Partnership
Vehicle and Driver

     

    The
Executive shall be entitled to a suitable Partnership vehicle and a dedicated
driver. All operating costs of the vehicle and the compensation for the driver
will be paid by the Partnership.

     

    8.2           Second
Car Allowance

     

    The
executive shall be entitled to a second car allowance of $1,000,000 Colombian
pesos a month subject to all statutory deductions.

     

    8.3           Recreation
or Golf Club Membership

     

    The
Executive shall be eligible for membership at a suitable recreation of golf club
in Bogota. The Partnership will approve the club selected by the Executive and
pay for the cost of the membership and reasonable expenses of the
club.

     

    ARTICLE
9

    TERMINATION
OF EMPLOYMENT

     

    9.1           Termination
Without Notice

     

    This
Agreement and the Executive’s employment with Partnership may be terminated,
without Partnership being obligated to provide the Executive with advance notice
of termination or pay in lieu of such notice, whether under contract, statute,
common law or otherwise, in the following circumstances:

     

    (a)           Voluntary
Resignation

     

    In the
event the Executive voluntarily resigns, except where the Executive resigns for
Good Reason as provided for in this Agreement, the Executive will give a minimum
of ninety (90) days’ advance written notice to the Partnership and Gran Tierra.
The Executive will not be entitled to receive any further compensation or
benefits whatsoever other than those which have accrued up to the Executive’s
last day of active service with the Partnership. The Partnership may, at its
discretion, waive in whole or in part such notice with payment in lieu to the
Executive;

     

    (b)           Cause

     

    “Cause”
is defined as any of the following:

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

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

     

    (b)           participation
in a fraud against the Partnership;

     

    (c)           participation
in an act of dishonesty against the Partnership intended to result in the
Executive’s personal enrichment;

     

    (d)           willful
material breach of the Partnership’s written policies;

     

    (e)           intentional
significant damage to the Partnership’s property by the Executive;

     

    (f)           material
breach of this Agreement; or

     

    (g)           conduct
by the Executive that, in the good faith and reasonable determination of the
Board, demonstrates gross unfitness to serve provided that in such event, the
Partnership shall provide notice describing the nature of the gross unfitness
and the Executive shall thereafter have ten (10) days to cure such gross
unfitness if such gross unfitness is capable of being cured.

     

    The
Partnership may not terminate the employment of the Executive for Cause unless
and until the Executive receives a copy of a resolution duly adopted by the
affirmative vote of at least a majority of the Board finding that in the good
faith opinion of the Board, that “Cause” exists and specifying the particulars
thereof in reasonable detail.

     

    9.2           Termination
by Partnership without Cause

     

    The
Partnership may terminate the Executive’s employment without Cause at any time
by providing the Executive with a separation package (the “Separation Package”) equal to
one years’ Total Cash Compensation.

     

    “Total
Cash Compensation” is defined as the annualized amount of Base Salary plus Bonus
Payment for the prior 12-month period.

     

    The
Separation Package shall be payable in a lump sum within thirty (30) days of
termination.

     

    9.3           Termination
by the Executive for Good Reason

     

    Should
the Executive terminate his employment for Good Reason, as hereinafter defined,
he shall receive the Separation Package set out in section 9.2. Failure of the
Executive to terminate his employment on the occurrence of any event which would
constitute Good Reason shall not constitute waiver of his right under this
section 9.3. Notwithstanding the foregoing, Executive may terminate his
employment for Good Reason so long as Executive tenders his resignation to the
Partnership within thirty (30) days after the occurrence of the event that forms
the basis for the resignation for Good Reason; provided, however, that Executive
must provide written notice to the Partnership and Gran Tierra describing the
nature of the event that Executive believes forms the basis for the resignation
for Good Reason, and the Partnership and Gran Tierra shall thereafter have ten
(10) days to cure such event.

     

    “Good
Reason” is defined as the occurrence of any of the following without the
Executive’s express written consent:

     

    (a)           adverse
change in the Executive’s position, titles, duties or responsibilities or any
failure to re-elect or re-appoint him to any such positions, titles, duties or
offices, except in connection with the termination of his employment for
Cause;

     

    (b)           a
reduction by the Partnership of the Executive’s Be Salary except to the extent
that the annual base salaries of all other executive officers of the Partnership
or Gran Tierra are similarly reduced or any change in the basis upon which the
Executive’s annual compensation is determined or paid if the change is or will
be adverse to the Executive except that an award of annual performance bonuses
by Gran Tierra’s Compensation Committee (and approved by the Board) are
discretionary and in no instance shall be considered adverse to Executive if
such performance bonus is reduced from a prior year or if an annual performance
bonus is not paid;

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (c)           a
Change Control (as defined below) of Gran Tierra occurs; or

     

    (d)           any
breach by the Partnership of any material provision of this
Agreement.

     

    A “Change
in Control” is defined as:

     

    
      	
               
      

            	
              (a)

            	
              a
      dissolution, liquidation or sale of all or substantially all of the assets
      of Gran Tierra;

            

    

     

    
      	
               
      

            	
              (b)

            	
              a
      merger or consolidation in which Gran Tierra is not the surviving
      corporation;

            

    

     

    
      	
               
      

            	
              (c)

            	
              a
      reverse merger in which Gran Tierra is the surviving corporation but the
      shares of Gran Tierra’s common stock outstanding immediately preceding the
      merger are converted by virtue of the merger into other property, whether
      in the form of securities, cash or otherwise;
or

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      acquisition by any person, entity or group within the meaning of Section
      13(d) or 14(d) of the Exchange Act, or any comparable successor provisions
      (excluding any employee benefit plan, or related trust, sponsored or
      maintained by Gran Tierra or any affiliate of Gran Tierra) of the
      beneficial ownership (within the meaning of Rule 13d-3 promulgated under
      the Exchange Act, or comparable successor rule) of securities of Gran
      Tierra representing at least fifty percent (50%) of the combined voting
      power entitled to vote in the election of
  directors.

            

    

     

    ARTICLE
10

    DIRECTORS/OFFICERS
LIABILITY

     

    10.1           Indemnity

     

    Gran
Tierra shall provide to the Executive indemnification in accordance with the
Indemnification Agreement entered into between Gran Tierra and the
Executive.

     

    10.2           Insurance

     

    
      	
               
      

            	
              (a)

            	
              Gran
      Tierra shall purchase and maintain, throughout the period during which the
      Executive acts as a director or officer of m Tierra or a Member Company
      and for a period of two years after the date that the Executive ceases to
      act as a director or officer of Gran Tierra or a Member Company,
      directors’ and officers’ liability insurance for the benefit of the
      Executive and the Executive’s heirs, executors, administrators and other
      legal representatives, such that the Executive’s insurance coverage is, at
      all times, at least equal to or better than any insurance coverage Gran
      Tierra purchases and maintains for the benefit of its then current
      directors and officers, from time to
time.

            

    

     

    
      	
               
      

            	
              (b)

            	
              If
      for any reason whatsoever, any directors’ and officers’ liability insurer
      asserts that the Executive or the Executive’s heirs, executors,
      administrators or other legal representatives are subject to a deductible
      under any existing or future directors’ and officers’ liability insurance
      purchased and maintained by Gran Tierra for the benefit of the Executive
      and the Executive’s heirs, executors, administrators and other legal
      representatives, Gran Tierra shall pay the deductible for and on behalf of
      the Executive or the Executive’s heirs, executors, administrators or other
      legal representatives, as the case may
be.

            

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    10.3           Survival

     

    The
provisions of sections 10.1 and 10.2 of this Agreement shall survive the
termination of this Agreement or the employment of the Executive with the
Partnership and such provisions shall continue in full force and effect in
accordance with such Indemnification Agreement and the provisions of this
Agreement for the benefit of the Executive.

     

    ARTICLE
11

    NON-COMPETITION
AND CONFIDENTIALITY

     

    11.1           Non-Competition

     

    The
Executive recognizes and understands that in performing the duties and
responsibilities of his employment as outlined in this Agreement, he will be a
key employee of Partnership and will occupy a position of high fiduciary trust
and confidence, pursuant to which he has developed and will develop and acquire
wide experience and knowledge with respect to all aspects of the services and
businesses carried on by Gran Tierra and its Member Companies and the manner in
which such businesses are conducted. It is the expressed intent and agreement of
the Executive and of Partnership that such knowledge and experience shall used
solely and exclusively in the furtherance of the business interests of Gran
Tierra and its Member Companies and not in any manner detrimental to them. The
Executive therefore agrees that so long he is employed by the Partnership
pursuant to this Agreement he shall not engage in any practice or business in
competition with the business of Gran Tierra or any of its Member
Companies.

     

    11.2           Confidentiality

     

    The
Executive further recognizes and understands that in the performance of his
employment duties and responsibilities outlined in this Agreement, he will be a
key employee of the Partnership and will become knowledgeable, aware and
possessed of all confidential and proprietary information, know-how, data,
strategic studies, techniques, knowledge and other confidential information of
every kind or character relating to or connected with the business or corporate
affairs and operations of Gran Tierra and its Member Companies and includes,
without limitation, geophysical studies and data, market data, engineering
information, shareholder data, client lists, compensation rates and methods and
personnel information (collectively “Confidential Information”)
concerning the business of Gran Tierra and its Member Companies. The Executive
therefore agrees that, except with the consent of the Board, he will not
disclose such Confidential Information to any unauthorized persons so long as he
is employed by Partnership pursuant to this Agreement and for a period of 24
months thereafter; provided that the foregoing shall not apply to any
Confidential Information which is or becomes known to the public or to the
competitors of Gran Tierra or its Member Companies other than by a breach of
this Agreement.

     

    11.3           Following
Termination of Agreement

     

    Subject
to this provision and without otherwise restricting the fiduciary obligations
imposed upon, or otherwise applicable to the Executive as a result of the
Executive having been a senior officer and key employee of the Partnership, the
Executive shall not be prohibited from obtaining employment with or otherwise
forming or participating in a business competitive to the business of Gran
Tierra and its Member Companies after termination of this Agreement and the
Executive’s employment with the Partnership.

     

    ARTICLE
12

    CHANGES
TO AGREEMENT; ASSIGNMENT

     

    Any
modifications or amendments to this Agreement must be in writing and signed by
all parties or else they shall have no force and effect. Notwithstanding the
foregoing, the Partnership may assign this agreement to Gran Tierra or any
Member Company, without the consent of the Executive.

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    ARTICLE
13

    ENUREMENT

     

    This
Agreement shall enure to the benefit of and be binding upon the Parties and
their respective successors and assigns, including without limitation, the
Executive’s heirs, executors, administrators and personal
representatives.

     

    ARTICLE
14

    GOVERNING
LAW

     

    This
Agreement shall be construed in accordance with the laws of the Province of
Alberta and the laws of Canada applicable therein.

     

    ARTICLE
15

    NOTICES

     

    15.1           Notice
to Executive.

     

    Any
notice required or permitted to be given to the Executive shall be deemed to
have been received if delivered personally to the Executive or sent by courier
to the Executive’s home address last known to the Partnership.

     

    15.2           Notice
to Partnership or Gran Tierra.

     

    Any
notice required or permitted to be given to the Partnership or m Tierra shall be
deemed to have been received if delivered personally to, sent by courier, or
sent by facsimile to:

     

    Gran
Tierra Energy Inc.

    300,
611-10th Avenue S.W.

    Calgary,
Alberta, Canada T2R 0B2

    Fax:
(403) 265-3242

    Attn:
President and Chief Executive Officer

     

    ARTICLE
16

    WITHHOLDING

     

    All
payments made by the Partnership to the Executive or for the benefit of the
Executive shall be less applicable withholdings and deductions.

     

    ARTICLE
17

    INDEPENDENT
LEGAL ADVICE

     

    The
Executive acknowledges that the Executive has been advised to obtain independent
legal advice with respect to entering into this Agreement, that he has obtained
such independent legal advice or has expressly deemed not to seek such advice,
and that the Executive is entering into this Agreement with full knowledge of
the contents hereof, of the Executive’s own free will and with full capacity and
authority to do so.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the
parties have executed this Agreement.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    Gran
      Tierra Energy Inc.

                                  	 
      	
                                    Gran
      Tierra Cayman Islands Inc., a Cayman Islands
Company, for itself and
      for the Partnership as the general
manager of GTE

                                  
	
                                    By:

                                  	
                                    /s/Dana
      Coffield

                                  	 
      	
                                    Colombia
      Holdings LLC, the sole owner of

                                  
	 	

                                    Dana
      Coffield

                                  	 	

                                    Argosy
      Energy LLC, general partner of the

                                  
	
                                    Title:
      President and CEO

                                  	 
      	
                                    Partnership

                                  
	
                                    Date:
      13 Nov 09

                                  	 
      	 
      
	 
      	 
      	
                                    By:

                                  	
                                    /s/
      Dana Coffield

                                  
	 
      	 
      	 
      	
                                    Dana
      Coffield

                                  
	 
      	 
      	
                                    Title:
      Director

                                  
	 
      	 
      	
                                    Date:
      13 Nov 09

                                  
	 	 	 
	
                                    Executive

                                  	 
      	
                                    Witness

                                  
	 	 	 
	/s/
      Julian Garcia	 
      	/s/
      Martin Eden
	
                                    Julian
      Antonio Garcia Salcedo

                                  	 
      	
                                    By:
      Martin Eden

                                  
	
                                    Date:
      23 Nov 09

                                  	 
      	
                                    Date
      Nov 23,
2009

                                  

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        8

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