Document:

Exhibit 10.2

EMPLOYMENT
AGREEMENT

THIS EMPLOYMENT AGREEMENT
(this “Agreement”), dated as of March 12, 2013 (the “Effective Date”), is entered into among
Bakken Resources, Inc., a Nevada corporation (the “Company”) and Karen S. Midtlyng (“Executive”).
Certain capitalized terms used in this Agreement are defined in Section 11 hereof.

The Company and Executive
desire to enter into this agreement relating to Executive's employment by the Company.

The parties hereto
agree as follows:

1.           
Employment. The Company shall employ Executive as Corporate Secretary to the Company,
and Executive hereby agrees to be employed by the Company, upon the terms and subject to the conditions set forth in this Agreement
for the period beginning on the Effective Date and ending as provided in Section 3 hereof (the “Employment Period”).
Executive shall be employed on a full-time basis with the Company.

2.           
Position and Duties.

(a)      Position. During the Employment Period, Executive shall serve as the Corporate Secretary
of the Company and in such capacity shall have the duties, responsibilities and authority that are normally associated with such
office and as requested by the board of directors of the Company (the “Board”) from time to time.

(b)      Duties. Executive shall report directly to the Chief Executive Officer of the Company,
and Executive shall devote all her time and attention (except for permitted vacation periods and periods of illness or incapacity
and other activities approved by the Board from time to time) to the business and affairs of the Company and its Subsidiaries.

3.           
Termination. The Employment Period shall terminate on the first anniversary of the
Effective Date (the “Initial Term”) and shall automatically renew for successive one (1) year periods (each
a “Successive Term”) unless either party gives written notice to the other at least 60 days prior to the end
of the Initial Term, or at least 60 days prior to the end of any one (1) year renewal period, that the Agreement shall not be further
extended. The date on which the Employment Period terminates after any notice of non-renewal is referred to herein as the “Expiration
Date. Notwithstanding the foregoing, the Company and Executive agree that Executive is an “at-will” employee, subject
only to the contractual rights upon termination set forth herein, and that the Employment Period (a) shall terminate automatically
at any time upon Executive's death, (b) shall terminate automatically at any time upon the Board's determination of Executive's
Disability, (c) may be terminated by the Company at any time for any reason or no reason (whether for Cause or without Cause) by
giving Executive written notice of the termination, and (d) may be terminated by Executive for any reason or no reason (including
for Good Reason) by giving the Company written notice at least 60 days in advance of her termination date. Notwithstanding anything
herein to the contrary, in no event shall delivery of a notice of non-renewal by the Company be deemed a termination without Cause.
The date that the Employment Period is terminated for any reason is referred to herein as the “Termination Date.”

4.           
Base Salary and Benefits.

(a)      Base Salary. During the Employment Period, Executive's base salary shall be $72,000
per year (the “Base Salary”). The Base Salary shall be reviewed annually. The Base Salary shall not be reduced
prior to the Expiration Date, and after any increase of such Base Salary approved by the Board, the term “Base Salary”
in this Agreement shall refer to the Base Salary as so increased. The Base Salary shall be payable in regular installments in accordance
with the Company's general payroll practices.

(b)      Expenses. The Company will reimburse Executive for all reasonable travel and other
business expenses incurred by Executive during the Employment Period in connection with the performance of her duties and obligations
under this Agreement as approved by the Chief Executive Officer, subject to Executive's compliance with such limitations and reporting
requirements with respect to expenses as may be established by the Company from time to time.

(c)      Other Benefits. During the Employment Period and provided Executive is a full-time
employee, Executive will be entitled to participate in all compensation or employee benefit plans or programs and receive all benefits
and perquisites for which similarly situated executives of the Company generally are eligible under any plan or program now in
existence or established later by the Company, on the same basis as other similarly situated executives of the Company. Nothing
in this Agreement will preclude the Company from amending or terminating any of the plans or programs applicable to similarly situated
executives of the Company as long as such amendment or termination is applicable to similarly situated executives of the Company,
as the case may be.

(d)      Indemnification. To the fullest extent permitted by law and the articles of incorporation
of the Company, Executive (and her heirs, executors and administrators) shall be indemnified by the Company and its successors
and assigns for Executive’s actions in her capacity as an officer or director of the Company. The obligations of the Company
pursuant to this Section shall survive the Employment Period. 

5.           
Severance.

(a)      Termination without Cause or for Good Reason. If, prior to the Expiration Date, the
Employment Period is terminated by the Company without Cause or by Executive for Good Reason, or if the Company does not renew
the Agreement at the end of the Initial Term or any Successive Term thereafter Executive shall be entitled to receive during
the Severance Period her annual Base Salary as in effect immediately prior to the Termination Date, paid in the same manner
and in the same installments as previously paid. For the avoidance of doubt, in no event shall Executive be entitled to any bonus
payment if Executive was not employed by the Company on the last day of the fiscal year during which any such Performance Bonus
was earned. When used herein, the “Severance Period” means the 12-month period from and after the Termination
Date. 

(b)      Death or Disability. In the event of the death or Disability of Executive during the
Employment Period, the Company's obligation to make payments or provide any other benefits under this Agreement shall cease as
of the date of death or Disability of Executive; provided, that Executive (or her estate) shall be entitled to receive (i)
all earned or accrued but unpaid Base Salary and reimbursement of expenses incurred by Executive prior to the Termination Date,
(ii) any Performance Bonus that was earned, but not paid, as of the Termination Date, and (iii) all amounts or benefits to which
Executive is entitled under any applicable employee benefit plan or arrangement of the Company in which Executive was a participant
during her employment with the Company, in accordance with the terms of such plan or arrangement. 

(c)      Other Termination. If the Employment Period is terminated by the Company for Cause
or by Executive for any reason other than Good Reason, Executive shall not be entitled to any severance payments and all of Executive's
benefits shall cease to be effective immediately as of the Termination Date (except as required by law); provided, that
Executive shall be entitled to receive all earned or accrued but unpaid Base Salary and reimbursement of expenses incurred by Executive
prior to the Termination Date.

(d)      Other Benefits. Except as required by law or as specifically provided in this Section
5, the Company's obligation to make any payments or provide any other benefits hereunder shall terminate automatically as of
the Termination Date. 

(e)      Termination of Severance. If Executive breaches any of the provisions of Sections
6 and 7 hereof, or engages in any Competitive Activity (as defined below) as described in Section 8 hereof, the
Company shall no longer be obligated to make any additional payments or provide any other benefits pursuant to this Section
5.

6.           
Confidential Information. Executive acknowledges that the information, observations
and data, whether in tangible or intangible form (including, without limitation, trade secrets, know-how, research plans, business,
accounting, distribution and sales methods and systems, sales and profit figures and margins and other technical or business information,
business, marketing and sales plans and strategies, cost and pricing structures, suppliers, customer lists, business relationships,
and information concerning acquisition opportunities and targets nationwide in or reasonably related to any business or industry
in which the Company or its respective Subsidiaries is engaged), disclosed or otherwise revealed to her, or discovered or otherwise
obtained by her or of which she becomes aware, directly or indirectly, while employed by the Company or its Subsidiaries (including,
in each case, those obtained prior to the date of this Agreement) concerning the business or affairs of the Company or any of its
respective Subsidiaries (collectively, “Confidential Information”) are the property of the Company or its respective
Subsidiaries, as the case may be, and agrees that the Company has a protectable interest in such Confidential Information. Therefore,
Executive agrees that she shall not (during her employment with the Company or at anytime thereafter) disclose, furnish or make
accessible to any unauthorized person or use for her own or any third party’s purposes any Confidential Information without
the prior written consent of the Board, unless and to the extent that the aforementioned matters: (a) become or are generally known
to and available for use by the public other than as a result of Executive's acts or omissions or (b) are required to be disclosed
by judicial process or law (provided that Executive shall give prompt advance written notice of such
requirement to the Company to enable the Company to seek an appropriate protective order or confidential treatment). Executive
shall deliver to the Company at the termination of the Employment Period, or at any other time the Company may request, all memoranda,
notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and copies thereof) which
constitute Confidential Information or Work Product (as defined below) which she may then possess or have under her control. Executive
acknowledges that upon termination of her employment with the Company, the Company may deem it advisable to, and shall be entitled
to, serve notice on her new employer that Executive has been exposed to certain Confidential Information and that she has continuing
obligations under the terms of this Agreement not to disclose such information. The provisions of this Section 6 shall survive
the termination or expiration of the Employment Period, irrespective of the reason therefor.

7.           
Work Product. Executive hereby assigns to the Company all right, title and interest
in and to all inventions, developments, methods, processes, designs, analyses, reports and all similar or related information (in
each case whether or not patentable), all copyrightable works, all trade secrets, confidential information and know-how, and all
other intellectual property rights that both (a) are conceived, reduced to practice, developed or made by Executive while employed
by the Company and its 

Subsidiaries
and (b) either (i) relate to the Company's or any of its Subsidiaries' actual or anticipated businesses, research and development
or existing or future products or services, or (ii) are conceived, reduced to practice, developed or made using any of the equipment,
supplies, facilities, assets or resources of the Company or any of its Subsidiaries (including, but not limited to, any intellectual
property rights) (“Work Product”). Executive shall promptly disclose such Work Product to the Board and perform
all actions reasonably requested by the Board (whether during or after the Employment Period) to establish and confirm the Company's
ownership of the Work Product (including, without limitation, executing and delivering assignments, consents, powers of attorney,
applications and other instruments).

8.           
Non-Competition and Non-Solicitation. 

(a)      Non-Competition. If Executive engages in any Competitive Activity during the two year period following the Termination Date (“Non-Competition
Term”), Executive’s right to receive any remaining severance payments under Section 5(a) hereof shall immediately
terminate. Notwithstanding the foregoing, in the event Executive is terminated without cause or for good reason, the Non-Competition
Term shall be the one year period following the Termination Date. Executive shall be deemed to be engaged in a “Competitive
Activity” if she anywhere within the United States engages, directly or indirectly, alone or as a shareholder (other
than as a holder of less than one percent (1%) of the common stock of any publicly traded corporation), partner, officer, director,
employee, consultant or advisor, or otherwise in any way participates in or becomes associated with, any other business organization
that is involved or becomes involved with the oil and gas industry, in any State that the Company,
or any of its Subsidiaries, is conducting such business at the time of Executive’s termination or has notified Executive
that it proposes to conduct such business and for which the Company has, prior to the time of such termination, expended substantial
resources.

(b)      Non-Solicitation. If Executive engages in any Solicitation Activity during the two year
period following the Termination
Date (“Non-Solicitation Term”), Executive’s right to receive any remaining severance payments under Section
5(a) hereof shall immediately terminate. Executive shall be deemed to be engaged in “Solicitation
Activity” if she employs, retains or engages (as an employee, independent contractor or otherwise), or induces or attempts
to induce to be employed, retained or engaged, any Person who is or was during the Non-Solicitation Term an employee, consultant
or officer of the Company, induces or attempts to induce any Person who, as of the date hereof or at any time thereafter during
the term of this Agreement, is an employee, consultant, or officer of the Company to terminate his or her employment or other relationship
with the Company, or induces or attempts to induce any Person who, as of the date hereof or at any time thereafter during the term
of this Agreement, is a customer, or other contracting party with the Company to terminate or not renew or not extend any written
or oral agreement or understanding or other relationship with the Company, or to reduce the amount of business it conducts with
the Company.

9.           
Enforcement. If, at the time of enforcement of any of Sections 6, 7 and
8, a court of competent jurisdiction shall hold that the type, scope or duration of the restrictions stated herein are unreasonable
under circumstances then existing, the parties hereto agree that the maximum type, scope or duration reasonable under such circumstances
shall be substituted for the stated type, scope or duration and that the court shall be allowed and directed to revise the restrictions
contained herein to cover the maximum type, scope and duration permitted by applicable law. The parties hereto acknowledge
and agree that Executive's services are unique and she has access to Confidential Information and Work Product, that the
provisions of Sections 6, 7 and 8 are necessary, reasonable and appropriate for the protection of the
legitimate business interests of the Company and its respective Subsidiaries, that irreparable injury
will result to the Company and its respective Subsidiaries if Executive breaches any of the provisions of Sections 6,
7 and 8 and that money damages would not be an adequate remedy for any breach by Executive of this Agreement and
that the Company will not have any adequate remedy at law 

for any such
breach. Therefore, in the event of a breach or threatened breach of this Agreement, the Company or any of its successors or assigns,
in addition to other rights and remedies existing in their favor, shall be entitled to specific performance and/or immediate injunctive
or other equitable relief from any court of competent jurisdiction in order to enforce or prevent any violations of the provisions
hereof (without the necessity of showing actual money damages, or posting a bond or other security). Nothing contained herein shall
be construed as prohibiting the Company or any of its successors or assigns from pursuing any other remedies available to it for
such breach or threatened breach, including the recovery of damages.

10.           
Executive's Representations and Acknowledgements. Executive hereby represents and warrants
to the Company that (i) the execution, delivery and performance of this Agreement by Executive do not and shall not conflict
with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Executive
is a party or by which she is bound, (ii) Executive is not a party to or bound by any employment agreement, non-competition
agreement or confidentiality agreement with any other Person, (iii) Executive shall not use any confidential information or
trade secrets of any third party in connection with the performance of her duties hereunder, and (iv) this Agreement constitutes
the valid and binding obligation of Executive, enforceable against Executive in accordance with its terms. Executive hereby acknowledges
and represents that she has consulted with independent legal counsel regarding her rights and obligations under this Agreement
and that she fully understands the terms and conditions contained herein and intends for such terms and conditions to be binding
on and enforceable against Executive. Executive expressly agrees and acknowledges that the restrictions contained in Sections
6, 7 and 8 do not preclude Executive from earning a livelihood, nor do they unreasonably impose limitations on
Executive's ability to earn a living. In addition, Executive agrees and acknowledges that the potential harm to the Company of
its non-enforcement outweighs any harm to Executive of its enforcement by injunction or otherwise. Executive acknowledges that
she has carefully read this Agreement and has given careful consideration to the restraints imposed upon Executive by this Agreement,
and is in full accord as to their necessity for the reasonable and proper protection of the Confidential Information. Executive
expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject
matter, time period and geographical area. 

11.           
Definitions.

“Affiliate”
means, with respect to any Person, any Person controlling, controlled by or under common control with such Person.

“Board”
means the Board of Directors of the Company.

“Cause”
means (i) Executive’s material breach of the terms of any agreement between Executive and Company or of a material policy
or code of conduct of the Company, or any of its Subsidiaries; (ii) Executive’s material failure, neglect or refusal to perform
any duties of Executive hereunder other than by reason of Disability; (iii) Executive’s gross negligence or willful misconduct
in the performance of her duties to the Company or any of its Subsidiaries; (iv) Executive’s willful insubordination or disregard
of the legal directives of the Board which are not inconsistent with the scope of Executive’s duties and responsibilities;
(v) Executive’s engaging in misconduct which has a material adverse impact on the reputation, business, business relationships
or financial condition of the Company or any of its Subsidiaries; (vi) Executive’s commission of an act of fraud or embezzlement
against the Company or any of its Subsidiaries; (vii) any conviction of, or plea of guilty or nolo contendere by, Executive with
respect to a felony (other than a traffic violation), a crime involving moral turpitude, fraud, misrepresentation or which causes
material harm to the standing and reputation of the Company or any of its Subsidiaries; or (viii) Executive’s (A) use of
any illegal drug or (B) abuse or misuse of alcohol

and/or prescription
drugs which materially adversely affects the performance of her duties to the Company or any of its Subsidiaries; provided, however,
that Cause shall not be deemed to exist under clause (ii) unless Executive has been given reasonably detailed written notice of
the grounds for such Cause and Executive has not effected a cure within fifteen (15) days of the date of receipt of such notice.

“Disability”
means (i) Executive has been deemed disabled for purposes of any group or individual disability policy paid for by the Company
that is in effect at the time of such disability; or (ii) the Board, in good faith, has determined Executive is substantially unable
to perform her duties under this Agreement for a period in excess of 120 days (whether or not consecutive)

“Good Reason”
means, without Executives prior written consent, any of the following, (i) a material diminution in the Executive’s base
compensation; (ii) a material diminution in the Executive’s authority, duties or responsibilities; (iii) any material breach
of this Agreement by the Company; (iv) a required change in location of Executive’s primary place of work of more than 35
miles from Executive’s present employment location and from her primary residence; provided that the events described
in clauses (i), (ii), (iii), and (iv) above shall constitute Good Reason only if the Company fails to cure such event within 30
days after receipt from Executive of written notice of the event which constitutes Good Reason if such events are curable. In addition,
Good Reason shall cease to exist for an event on the 60th day following the later of its occurrence or Executive’s
knowledge thereof, unless Executive has given the Company written notice thereof prior to such date. “Person”
means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

“Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association or business entity of which
(i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of
any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly
or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof or (ii) if
a limited liability company, partnership, association or other business entity (other than a corporation), a majority of partnership
or other similar ownership interests thereof is at the time owned or controlled, directly or indirectly, by any Person or one or
more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association or other business entity (other than a corporation)
if such Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business
entity gains or losses or shall be or control any managing director or general partner of such limited liability company, partnership,
association or other business entity. For purposes hereof, references to a “Subsidiary” of any Person shall be given
effect only at such times that such Person has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary”
refers to a Subsidiary of the Company.

12.           
Notices. Any notice provided for in this Agreement must be in writing and must be either
personally delivered, mailed by first class mail (postage prepaid and return receipt requested), sent by reputable overnight courier
service (charges prepaid), e-mailed or faxed to the recipient at the address below indicated:

To Company:

 

Bakken Resources, Inc.

Attn: Val M. Holms

1425 Birch Ave, Suite A

Helena, MT 59601

 

To Executive:

 

Karen S. Midtlyng

225 Greenwood Drive,

Helena, MT 59601

 

or such other address or to the attention
of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under
this Agreement shall be deemed to have been given when personally delivered, one (1) business day after sent by reputable overnight
courier service, five (5) calendar days after deposit in the U.S. mail (or when actually received, if earlier), or at such time
as it is transmitted via e-mail or facsimile, with receipt confirmed.

13.           
General Provisions.

(a)      Expenses. The Company and Executive will each pay their own costs and expenses incurred
in connection with the negotiation and execution of this Agreement and the agreements contemplated hereby.

(b)      Severability. Whenever possible, each provision of this Agreement shall be interpreted
in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid,
illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability
shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

(c)      Complete Agreement. This Agreement, those documents expressly referred to herein and
other documents of even date herewith embody the complete agreement and understanding among the parties and supersede and preempt
any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the
subject matter hereof in any way.

(d)      Counterparts. This Agreement may be executed in separate counterparts, each of which
is deemed to be an original and all of which taken together shall constitute one and the same agreement.

(e)      Successors and Assigns. Except as otherwise provided herein, this Agreement shall bind
and inure to the benefit of and be enforceable by Executive, and the Company, and their respective successors and assigns, including
any entity with which the Company may merge or consolidate or to which all or substantially all of its assets may be transferred;
provided, that the rights and obligations of Executive under this Agreement shall not be assignable.

(f)      Governing Law. All issues and questions concerning the construction, validity, enforcement
and interpretation of this Agreement and the exhibits and schedules hereto shall be governed by, and construed in accordance with,
the laws of the State of Montana, without giving effect to any choice of law or conflict of law rules or provisions (whether of
the State of Montana or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the
State of Montana.

(g)      Remedies. Each of the parties to this Agreement shall be entitled to enforce her or
its rights under this Agreement specifically, to recover damages and costs (including reasonable 

attorney's
fees) caused by any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The parties
hereto agree and acknowledge that money damages would not be an adequate remedy for any breach of the provisions of this Agreement
and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any
bond or deposit) for specific performance and/or other injunctive relief in order to enforce or prevent any violations of the provisions
of this Agreement.

(h)     Amendment and Waiver. The provisions of this Agreement may be amended and waived only
with the prior written consent of the Company and Executive.

(i)      Business Days. If any time period for giving notice or taking action hereunder expires
on a day which is a Saturday, Sunday or legal holiday in the state in which the Company's chief executive office is located, the
time period shall be automatically extended to the business day immediately following such Saturday, Sunday or holiday.

(j)      No Strict Construction. The language used in this Agreement shall be deemed to be the
language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied against
any party.

 

 

* * * *

IN WITNESS WHEREOF,
the parties hereto have executed this Agreement on March 12, 2013.

BAKKEN RESOURCES, INC.

 

 

By:/s/ Val M. Holms

Name: Val M. Holms

Title: Chief Executive Officer

 

 

EXECUTIVE

 

 

/s/ Karen S. Midtlyng 

Name: Karen S. MidtlyngExhibit 10 27 Irvine Contract

		

			Exhibit 10.27

		

		
			CONTRACT SERVICES AGREEMENT
		

		
			 
		

		
			This Contract Services Agreement (“Agreement”) is effective as of February 16th, 2012 between Gold Resource Corporation, a Colorado corporation (the “Company”), and Rick Irvine (the “Contractor”) (collectively, the “Parties”).
		

		
			 
		

		
			W I T N E S S E T H:
		

		
			 
		

		
			WHEREAS, the Company wishes to engage the Contractor to provide services upon the terms and conditions hereinafter set forth; and
		

		
			 
		

		
			WHEREAS, the Contractor wishes to provide such services upon the terms and conditions hereinafter set forth.
		

		
			 
		

		
			NOW, THEREFORE, in consideration of the premises and mutual promises set forth
		

		
			below, the sufficiency of which is hereby acknowledged, the Parties agree as follows:
		

		
			 
		

		
			1.       Contract;  Services.   Beginning April 1, 2012 or such other date as mutually agreed to by the Parties. Contractor  shall provide services to the Company acting as the Chief Operating Officer (COO) of the Company.  Contractor shall be responsible for performing such duties as are customarily performed by the COO, including but not limited to, executing the Company business plan and mineral production goals, supervising  milling operations, open pit and underground mine operations, engineering, planning, safety programs , implementing various systems, procedures and documentation to improve the Company’s projects and operations, assisting the  Company with evaluation of its properties and prospects within and out of its Oaxaca Mining Unit and evaluation of opportunities in mining friendly jurisdictions around the globe.  The COO position reports to the Chief Executive Officer (“CEO”), President and Board of Directors.  The Contractor shall at all times report to and take direction from the CEO, President and Board of Directors and shall perform such additional duties not inconsistent with his position as shall be designated from time to time by the Company.
		

		
			 
		

		
			2.       Best Efforts. The Contractor agrees to use his best efforts to promote the interests of the Company and shall, except for illness, reasonable vacation periods and leaves of absence, devote his full business time and energies to the business and affairs of the Company. The
		

		
			Contractor shall be permitted to perform material outside business endeavors only with the approval of the CEO, President, provided that such outside activities do not interfere with the performance of the  Contractor’s duties.
		

		
			 
		

		
			3.       Term of Agreement. The term of this Agreement shall commence on the date first written above and shall continue, unless earlier terminated in accordance with the provisions of Section 5, for a period of three years (the  “Term”).  The Term of this Agreement shall thereafter be automatically extended for a period of one year if at least 90 days prior to expiration of the Term, neither Party receives a Notice of Termination (hereinafter defined) from the other Party.  
		

		
			 
		

		
			4.       Compensation.
		

		
			 
		

		

		

		 

 

		4.1     Base Compensation.   Upon commencement of Contractor’s services rendered hereunder, the Company shall pay to the Contractor an annual rate equal to three hundred thousand dollars ($300,000.00) (the “Base Compensation”). The Base Compensation shall be payable to the Contractor on a monthly basis in accordance with the Company’s standard policies.
		

		
			 
		

		
			4.2     Incentive Compensation. With respect to each calendar year or portion thereof, beginning with calendar year 2012, the Contractor shall be eligible to receive incentive compensation, including but not limited to, bonuses, stock options and other perquisites, payable
		

		
			solely in the discretion of the Board of Directors of the Company.
		

		
			 
		

		
			4.3     Benefits. The Contractor shall be reimbursed by the Company for reasonable health, dental and life insurance from a provider in Bolivia and vacation pay.  The Contractor shall also be reimbursed for reasonable and necessary business expenses incurred in the course of his duties with the Company pursuant to Company policies established from time to time. Reimbursement shall be made to the extent such expenses are deductible by the Company in accordance with applicable Internal Revenue Service rules.  Contractor shall be entitled to three weeks’ vacation per year and all holidays.
		

		
			 
		

		
			4.4         Cellular Phone. The Company shall, during the Term of  this Agreement, provide the
		

		
			Contractor with and pay for the Contractor’s use of a cellular phone for business and reasonable personal use.
		

		
			 
		

		
			4.5      Transportation, Office, Equipment and Assistance. The Company shall provide for the Contractor all facilities, equipment and services suitable to his position and adequate for the performance of his duties. The Contractor will be required to perform the services described in Section 1 at the Company’s operations in Oaxaca Mexico, at the Corporate office in Colorado Springs and site visits to mining friendly jurisdictions around the world.    
		

		
			 
		

		
			5.       Termination of Contractual Relationship.    
		

		
			 
		

		
			5.1     Death. This Agreement shall terminate immediately upon the death of the Contractor. In such event, the Company shall pay Contractor's estate an amount equal to twelve (12) months Base Compensation, such amount being payable within 90 days after his death.
		

		
			 
		

		
			5.2       Termination by the Company.  This Agreement may be terminated by the Company for “Cause” and, in such event, this Agreement shall terminate at the termination date designated by the Company. For the purpose of this paragraph, “Termination for Cause” or “Cause” shall include the following:
		

		
			 
		

			
			
				 (a)
			

			
			
			Failure by the Contractor to substantially perform the services required hereunder;

		
			 
		

		

		

		 

 

		(b)                 Conviction of criminal conduct by the Contractor that adversely affects the reputation of the Contractor or the Company or adversely impacts the ability of the Contractor to perform the services required hereunder;
		

		
			 
		

		
			                        (c)             Engagement by the Contractor in the use of narcotics or alcohol to the extent that the performance of his duties is materially impaired;
		

		
			 
		

		
			(d)                 Material breach of the terms of this Agreement by the Contractor or failure to substantially comply with proper instructions of the CEO, President or Board of Directors;
		

		
			 
		

		
			(e)     Willful misconduct by the Contractor which is materially injurious to the
		

		
			Company, other than business decisions made in good faith; or
		

		
			 
		

		
			(f)                 Any act or omission on the part of the Contractor not described above, but which constitutes material and willful misfeasance, malfeasance, or gross negligence in the performance of services to the Company.
		

		
			 
		

		
			5.3       Termination by the Contractor.  The Contractor may terminate this Agreement for  “Good Reason.” For purposes of this paragraph, “Good Reason” shall mean:
		

		
			 
		

		
			(a)                 Any assignment to the Contractor of any duties materially inconsistent with the position described in Section 1 hereof;
		

		
			 
		

		
			(b)                       Any removal of the Contractor from the position described in Section 1 hereof without the Contractor’s written consent, except in connection with termination of the
		

		
			Contractor pursuant to Section 5.1 or 5.2 hereof;
		

		
			 
		

		
			(c)           A reduction in the Contractor rate of compensation.
		

		
			 
		

		
			(d)         Other material breach of this Agreement by the Company.
		

		
			 
		

		
			5.4      Change in Control.  The Contractor may terminate this Agreement following a “Change of Control” of the Company.  For purposes of this paragraph, a “Change of Control” shall be deemed to have occurred if (i) a tender offer shall be made and consummated for the ownership of 50% or more of the outstanding voting securities of the Company; (ii) the sale of 50% or more of the outstanding voting securities of the Company in a single transaction or a series of transactions occurring during a period of not more than twelve months; (iii) the Company shall be merged or consolidated with another corporation and as a result of such merger or consolidation less than 50% of the outstanding securities of the surviving or resulting corporation shall be owned in the aggregate by the former shareholders of the Company, as the same shall have existed immediately prior to such merger or consolidation; or (iv) the Company shall sell substantially all of its assets to another corporation which is not a wholly owned subsidiary.
		

		
			 
		

		
			Any termination by the CEO, President or Board of Directors pursuant to Section 5.2 or 5.3 or by the Contractor pursuant to Section 5.4 shall be communicated by written Notice of 
		

		 

 

		Termination to the other Party hereto. “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Contractor’s Contract under the provision so indicated.
		

		
			 
		

		
			The Contractors obligations under Section 6 regarding confidentiality shall survive any termination of this Agreement by the Contractor, by the Company or otherwise.
		

		
			 
		

		
			5.5            Payment Upon Termination.
		

		
			 
		

		
			                        (a)              If this Agreement is terminated by the Company for Cause, or the Contractor terminates the Contract without Good Reason, during the Term of the Contract, the Contractor shall not be entitled to severance pay of any kind but shall be entitled to be reimbursed for all reasonable business expenses incurred by the Contractor  and shall be paid the Base Compensation earned by the Contractor prior to the effective date of termination.
		

		
			 
		

		
			(b)                    In the event this Agreement is terminated without Cause or with Good Reason, the Company shall pay to the Contractor an amount equal to twelve  (12) months Base Compensation at the rate prevailing for the Contractor prior to such termination as severance pay within 90 days from the date of termination of the Contract.
		

		
			 
		

		
			(c)                  In the event this Agreement is terminated following a Change in Control, the Company shall pay the Contractor thirty-five (35) months Base Compensation at the rate prevailing for the Contractor immediately prior to such termination as severance pay, payable within 90 days of the date of termination of the Contract.  The Contractor shall also be entitled to receive benefits to which he was entitled immediately preceding the date of termination for a similar 35-month period, including but not limited to reimbursement for health and dental insurance.      
		

		
			 
		

		
			6.       Confidentiality and Non-Disclosure.
		

		
			 
		

		
			6.1     Confidential Information. The Contractor and the Company recognize that due to the nature of his engagement under this Agreement, and the relationship of the Contractor to the Company, the Contractor has had access to and has acquired or will have access to and will acquire, and has assisted in and may assist in developing, confidential and proprietary information relating to the business and operations of the Company and its affiliates, including trade secrets as defined in the Colorado Uniform Trade Secrets Act and information with respect to their present and prospective products, services, systems, software, data, customers, agents, processes, and sales and marketing methods. The Contractor acknowledges that such information has been and will continue to be of central importance to the business of the Company and its affiliates and that disclosure of it to or its use by others could cause substantial loss to the Company. The Contractor will keep confidential any trade secrets or confidential or proprietary information of the Company and its affiliates which are now known to him or which hereafter may become known to him as a result of this Agreement or association with the Company and shall not at any time directly or indirectly disclose any such information to any person, firm or 
		

		 

 

		corporation, or use the same in any way other than in connection with the business of the Company or its affiliates during and at all times after the expiration of the Term of the Contract.
		

		
			 
		

		
			6.2     Remedy. In the event of a breach or threatened breach by the Contractor of any of the provisions of this Section 6, the Company shall be entitled to injunctive relief, restraining the Contractor and any business, firm, partnership, individual, corporation, or entity participating in such breach or attempted breach, from engaging in any activity which would constitute a breach of this Section 6.  Nothing herein, however, shall be construed as prohibiting the Company from pursuing any other remedies available at law or in equity for such breach or threatened breach, including the recovery of damages. The provisions of this Section 6 shall survive the termination of this Agreement.
		

		
			 
		

		
			7.  Relationship of the Parties. Notwithstanding any provision hereof, for all purposes of this Agreement each Party shall be and act as an independent contractor and not as partner, joint venturer, or agent of the other and shall not bind nor attempt to bind the other to any contract.  Contractor is an independent contractor and is solely responsible for all taxes, withholdings, and other statutory or contractual obligations of any sort.
		

		
			 
		

		
			8.           Miscellaneous.
		

		
			 
		

		
			8.1          Assignability. The Contractor may not assign his rights and obligations under this Agreement without the prior written consent of the Company, which consent may be withheld for any reason or for no reason.
		

		
			 
		

		
			8.2          Severability. In the event that any of the provisions of this Agreement shall be held to be invalid or unenforceable, the remaining provisions shall nevertheless continue to be valid and enforceable as though the invalid or unenforceable parts had not been included therein.
		

		
			 
		

		
			8.3          Entire Agreement. This Agreement, and any attachments hereto, constitute the entire agreement between the Parties relating to the subject matter hereof and supersedes all prior agreements or understandings among the Parties hereto with respect to the subject matter hereof.
		

		
			 
		

		
			8.4          Amendments. This Agreement shall not be amended or modified except by a
		

		
			writing signed by both Parties hereto.
		

		
			 
		

		
			8.5          Waiver. The failure of either Party at any time to require performance of the other Party of any provision of this Agreement shall in no way affect the right of such Party thereafter to enforce the same provision, nor shall the waiver by either Party of any breach of any provision hereof be taken or held to be a waiver of any other or subsequent breach, or as a waiver of the provision itself. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Colorado without regard to the conflict of laws of such State. The benefits of this Agreement may not be assigned nor any duties under this Agreement be delegated by the Contractor without the prior written consent of the Company, except as contemplated in this Agreement. This Agreement and all of its rights, privileges, and obligations will be binding upon the Parties and all successors and agreed to assigns thereof
		

		
			 
		

		

		

		 

 

		8.6          Binding Agreement. This Agreement shall be effective as of the date hereof and shall be binding upon and inure to the benefit of the Contractor,  his heirs, personal and legal representatives, guardians and permitted assigns. The rights and obligations of the Company under this Agreement shall inure to the benefit of and shall be binding upon any successor or assignee of the Company, including any entity that may be merged with or into the Company.
		

		
			 
		

		
			8.7          Headings. The headings or titles in this Agreement are for the purpose of reference only and shall not in any way affect the interpretation or construction of this Agreement.
		

		
			 
		

		
			8.8          No Conflict. The Contractor represents and warrants that he is not subject to any agreement, order, judgment or decree of any kind which would prevent him from entering into this Agreement or performing fully his obligations hereunder.
		

		
			 
		

		
			8.9          Survival. The rights and obligations of the Parties shall survive the term of this Agreement to the extent that any performance is required under this Agreement after the expiration or termination of this Agreement.
		

		
			 
		

		
			8.10          Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which shall together constitute one and the same document.
		

		
			 
		

		
			8.11          Notices. Any notice to be given hereunder by either Party to the other may be effected in writing by personal delivery, or by mail, certified with postage prepaid, or by overnight delivery service. Notices sent by mail or by an overnight delivery service shall be addressed to the Parties at the addresses appearing following their signatures below, or upon the employment records of the Company but either Party may change its or his address by written notice in accordance with this paragraph.
		

		
			 
		

		
			8.12          Opportunity to Consult Counsel. The Parties hereto represent and agree that, prior
		

		
			to executing this Agreement, each has had the opportunity to consult with independent counsel
		

		
			concerning the terms of this Agreement.
		

		
			 
		

		
			8.13          Attorney Fees. In the event of any dispute, arbitration, litigation between the Parties or proceeding before any court of competent jurisdiction, the prevailing Party shall be entitled to reasonable attorney fee, costs and expenses.
		

		
			 
		

		
			[Signatures on following page]
		

		

		

		 

 

		
		

		
			IN WITNESS WHEREOF, the Parties hereto have properly and duly executed this Agreement to be effective as of the date first written above.
		

		
			 
		

		
			 
		

		
			THE COMPANY:
		

		
			 
		

		
			Gold Resource Corporation
		

		
			 
		

		
			            /s/ William Reid
		

		
			By:______________________________________
		

		
			     William Reid, Chief Executive Officer
		

		
			 
		

		
			 
		

		
			CONTRACTOR:
		

		
			 
		

		
			 
		

		
			/s/ Richard Irvine
		

		
			_________________________________________
		

		
			Richard Irvine
		

		
			 
		

		
			Address: La Paz, Bolivia

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