Document:

Exhibit
10.30

EMPLOYMENT AGREEMENT

This Employment Agreement
(“Agreement”) is made this September 1, 2004 by and between Daniel H. Yergin
(the “Executive”) and IHS Energy Group Inc., a Delaware corporation (the
“Company”).

The Company desires to
employ Executive as Chairman of Cambridge Energy Research Associates, Inc.
(“CERA”), acquired by the Company today, and a Senior Vice President of the
Company.  Executive desires to be so
employed on the terms and conditions hereinafter set forth.

NOW THEREFORE,
in consideration of the premises and the mutual covenants and agreements
hereinafter contained the parties hereto hereby agree as follows:

1.                                      Position
and Duties.

The Company will employ
Executive as Chairman of CERA and a Senior Vice President of the Company, upon
the terms and conditions set forth in this Agreement.  So long as the Company maintains an Executive
Committee of senior Company executives during the term hereof, Executive will
serve as a member of the Company’s Executive Committee.  Executive hereby accepts such employment on
the terms and conditions set forth herein. 
Executive agrees to devote his best efforts, skills and abilities to the
business and affairs of CERA and the Company. 
Executive shall perform all duties and have all responsibilities
consistent with the positions indicated above and his past activities as
Chairman of CERA.  Such duties and
responsibilities and such efforts by Executive are to be commensurate with
Executive’s titles, functions and positions. 
Executive shall work full-time and shall devote his entire business time
to his employment hereunder except that Executive may for his own account and
at his own expense engage in the Permitted Outside Activities (defined below)
to the extent that the time devoted to such activities does not detract in a
material way from the performance of Executive’s duties and responsibilities to
CERA and the Company and that Executive does not engage in any such activity
detrimental to the business interests of CERA or the Company.  It is understood and agreed that Executive
may, during his employment hereunder, write one or more books of the quality of
the books he has heretofore written.  The
“Permitted Outside Activities” are (i) writing books or writing for
magazines and newspapers, (ii) making speeches to non-CERA clients not in
the energy field, it being understood that Executive will reimburse the Company
or CERA out of any proceeds received for any speech for expenses they incur in
connection therewith, (iii) appearing on, writing for and producing for
television and other media, (iv) holding board and advisory positions for
other entities, with the prior written consent of the Company, which consent
will not be unreasonably withheld, (v) investing and managing investments
to the extent not in the energy research or energy consulting business,
(vi) participating in civic and charitable activities and
(vii) engaging in other activities consistent with the foregoing and with
the intention that Executive perform his duties hereunder and at the same time
may engage in other activities that  will
advance the reputation of CERA and the Executive.  Executive shall perform his duties at the
Company’s offices located in Washington, D.C., where Executive shall be based,
and in Cambridge, MA.  Executive
acknowledges that performance of his duties hereunder will require travel in
accordance with the needs of the business.

2.                                      Term.

The term of this
Agreement (“Term”) shall commence on the date hereof and continue until the
fifth anniversary of the date hereof unless sooner terminated pursuant to
Section 4 below and thereafter if renewed as below provided will be terminated
as below provided.  This Agreement shall
automatically renew for additional successive one year Terms after the initial
Term unless terminated pursuant to Section 4 below or either party terminates
this Agreement as of the end of the then current Term by written notice to the
other more than ninety (90) days before termination of the then current
Term.  Upon any termination this Agreement
shall no longer be in effect except for any amounts payable hereunder in
accordance herewith and not paid prior thereto and except for Sections 3.6, 5
and 6, which will remain in effect in accordance with their terms.

3.                                      Compensation
and Benefits.

3.1                                 Base
Salary and Bonuses.  (a)  As compensation for the services to be
performed by Executive under this Agreement, the Company shall pay Executive
during the Term a base salary at the rate of not less than Four Hundred
Thousand Dollars ($400,000) per annum, payable in accordance with the Company’s
payroll practices in effect from time to time, but not less often than monthly
(such salary, as increased as provided in this Section 3.1, the “Base
Salary”).  The Company shall review
Executive’s Base Salary for increases at the same time and using the same
criteria as it does when reviewing the Company’s other senior executives
generally for salary increases.

(b)   The Company shall cause CERA
to pay Executive a cash bonus for the CERA fiscal year ended June 30, 2004 of
$200,000, if and to the extent Executive has not been paid a bonus in not less
than such amount for such year prior to the date hereof.

(c)   Executive shall be eligible
in respect of each Company fiscal year 
of employment hereunder, commencing with the fiscal year beginning
December 1, 2004, for an annual cash bonus of up to the amount for such fiscal
year period set forth in Attachment A, based upon attainment of targets and
criteria set forth in Attachment A.

(d)   Any bonus payable to
Executive hereunder shall be paid by the Company whether or not Executive is
employed by the Company at the time of the Company’s standard payment time for
similar executives, provided Executive is employed for the period provided
below in this subclause (d).  If Executive’s
employment is terminated before the end of a bonus period for any reason other
than Cause (defined below), or if Executive’s employment is terminated by
Executive before the end of a bonus period for Good Reason (defined below), the
Executive shall be entitled to a pro-rata portion of any such bonus.  If Executive’s employment is terminated by
the Company for Cause before the end of a bonus period or if Executive’s
employment  is

 2
 

terminated by
Executive before the end of a bonus period other than for Good Reason, no bonus
will be payable.

(e)     In the event during the Term there is an
initial public offering (“IPO”) of equity securities by an entity which
includes the IHS Energy Group (IHS Energy Group means the Company and CERA and
any other energy related companies owned or controlled by the Company),
Executive and the Company may mutually agree that in lieu of cash payment the
amount of any bonus payable to Executive hereunder shall be paid in options,
shares or other equity instruments of the public company on such terms and
using such valuation methods for the equity as the Executive and Company may
mutually agree.

3.2                                 Stock
Based Compensation.  Executive will
be granted an option to purchase 50,000 shares of IHS Group Inc. (“IHS”)
non-voting common stock exercisable at fair market value as determined in good
faith by  the Compensation Committee of
the Company’s parent company, on or about September 2004.   The options will vest on December 1, 2006
and will be issued pursuant to the 2002 IHS Group Inc. Non-Qualified Stock
Option Plan.   In the event other
incentive and performance based plans are adopted during the Term hereof that
provide for grant and/or purchase of stock or other equity based rights in the
Company or affiliated companies for senior Company executives, Executive will
be granted the right  to participate in
such plans on terms comparable to those granted Company senior executives at
comparable levels.   In the event IHS
determines that there will be no grants of IHS options under such Plan to
employees in September 2004, prior to December 1, 2004 Executive will be
provided with options or other equity instruments of substantially equivalent
value under a new plan.

3.3                                 Sale
of Stock.  IHS will take all steps
necessary to permit Executive to sell any or all shares acquired as
contemplated hereby on the same terms and conditions, and at the same time and
to the same extent vis-à-vis shares held, as other senior executives of the
Company do so or are entitled to do so. 
Executives will execute lock-up or similar agreements required of other
Company senior executives.

3.4                                 Reimbursements.  Executive shall be reimbursed for travel,
business communications, entertainment and other reasonable business expenses
incurred by Executive in the performance of his employment duties
hereunder.  Executive shall be entitled
to first class air travel and other travel and lodging consistent with
Executive’s past practices at CERA

3.5                                 Additional
Benefits.  Executive shall be
entitled to receive other benefits from time to time while employed hereunder
in accordance with the Company’s then-current benefits policies generally
applicable to employees of the Company and in conformance with those benefits
typically made available to the other senior executives of the Company, and, in
particular,

 3
 

(a) the Company will maintain Executive’s offices in Washington D.C.
and Cambridge, MA so long as Executive is employed, with personnel
administrative assistance consistent with past practice at CERA.

(b)   Executive will be allowed to
take six weeks paid vacation during each year of employment, with no carry
forward into subsequent years of any unused vacation time,

(c)   Executive will be provided
life, long-term disability, hospital, medical, dental, and disability
insurances (“Welfare Benefits”) for himself and his family under the plans  provided to other senior executives of the
Company (in the event separate Welfare Benefit plans are provided to senior
executives of CERA, Executive shall have the option to participate in either
the Company plans or the CERA plans).  
The Company will continue the CERA life insurance benefit for Executive
existing on the date hereof for the term of this Agreement, and

(d)   Executive will be entitled,
at levels commensurate with other senior executives of the Company, to (i)
participate in any  other employee
benefit plans now in existence or established during the Executive’s term of
service hereunder in which such other senior executives participate generally,
and (ii) sick pay and other perquisites available to such senior executives
generally.

3.6                                 Severance.  Upon any termination of Executive’s
employment by the Company, effective prior to the end of the then current Term
or any then current renewal Term hereof, other than pursuant to Section 4.3
below, or upon any termination of Executive’s employment by Executive prior to
the end of the then current Term or any then current renewal Term hereof for
Good Reason, the Company will pay severance (“Severance”) to Executive (i)
equal to one year’s salary at the Executive’s Base Salary rate on the date of
termination, payable when salary payments are made to other Company senior
executives during the year following the termination and (ii) provide, or, at
Company’s option,  provide payment for
the equivalent of, one year’s Welfare Benefits. 
Such Severance shall be the sole payment and shall satisfy all
obligations of the Company and its affiliates to Executive in the event of any
such termination of Executive’s employment and shall be contingent on Executive’s
execution of the Company’s standard release and waiver agreement.  No Severance shall be payable in the event
this Agreement terminates at the end of any Term or renewal Term pursuant to
written notice pursuant to Section 2 above or Section 4.2 below.

4.                                      Termination
of Employment.

4.1                                 Termination.  Except as otherwise provided in Section 3.6
above and  elsewhere herein, Executive’s
employment and all rights of Executive hereunder shall terminate upon the
termination of this Agreement, and neither Executive nor his successors will
have any rights hereunder, except with respect to compensation earned by and
payable to Executive hereunder prior to the effective date of such

 4
 

termination
and except with respect to any rights or monies vested in Executive’s 401(k)
plan or other Company benefit plans in which Executive was participating at the
time of such effective date (collectively, “Earned and Vested Benefits”).  This Agreement and the employment of
Executive hereunder shall terminate only upon the occurrence of any of the
events specified in 4.2 through 4.6 effective upon the satisfaction of the
specified conditions and the expiration of any notice periods after the
delivery of any required notices, or as provided in the second sentence of
Section 2 above.

4.2                                 Mutual
Agreement; Notice.  The Company and
Executive may mutually agree in writing to the termination of this Agreement,
including the extent of the continuation of rights and obligations of the
Company and Executive.  In addition,
either party may give written notice to the other of the termination of this
Agreement not less than ninety (90) days prior to the end of the then current
Term of this Agreement.  Any termination
pursuant to this Section 4.2 or pursuant to the second sentence of Section 2
above shall not be considered termination by the Company without Cause or
termination by Executive for Good Reason

4.3                                 Termination
for Cause.  The Company may terminate
this Agreement for Cause at such time as Cause exists, by written notice to the
Executive.  In the event the Company
elects to terminate Executive for Cause, the Company’s Board of Directors shall
send written notice to Executive terminating such employment, indicating the
basis for such termination and specifying the termination date.  Cause means any of the following: (i)
conviction of Executive or Executive pleading guilty of the commission of a
felony or one or more acts of dishonesty or moral turpitude,, (ii) willful
failure of the Executive to perform his duties, under this Agreement, after
written demand that the Executive do so, (iii) gross negligence by the
Executive in the performance of, or willful disregard by the Executive of, the
Executive’s obligations to the Company and/or CERA hereunder or (iv) the breach
by the Executive of any of the Executive’s obligations set forth in the
Executive’s Non-Competition Agreement or Employee Invention and Non-Disclosure
Agreement of even date herewith. 
Termination of the employment of the Executive shall not be deemed to be
for Cause hereunder unless and until (A) written notice has been delivered to
the Executive by the Company which specifically identifies the Cause which is
the basis of the termination and, if the Cause is capable of cure, the
Executive has failed to cure or remedy the act or omission so identified within
fourteen (14) calendar days after written notice of such breach, and (B) the
Company’s Board of Directors or the Board of Directors of the Company’s parent
company has voted to terminate the Executive by the affirmative vote of not
less than a majority  of entire Board of
Directors (excluding the Executive if he is a member of the Board), after
reasonable notice has been provided to the Executive and the Executive has been
given an opportunity, together with counsel, to be heard before the applicable
Board of Directors.  For purposes of this
provision, no act or failure to act on the part of the Executive shall be
considered “willful” unless it is done, or omitted to be done, by the Executive
in bad faith or without reasonable belief that the Executive’s action or
omission was in the best interest of the Company.  Any act,

 5
 

or failure to
act, based upon authority given pursuant to a resolution duly adopted by the
Company’s Board of Directors or upon the instructions of such Board or based
upon the advice of counsel for the Company shall be conclusively presumed to be
done, or omitted to be done, by the Executive in good faith and in the best
interest of the Company.  In the event of
termination by the Company for Cause, the Company shall pay all salary
theretofore earned and not paid and any Earned and Vested benefits, and such
payments shall be the sole obligation of the Company to Executive.

4.4                                 Termination
by the Company Without Cause; Termination by the Executive for Good Reason.  In the event Executive’s employment is
terminated by the Company without Cause or if Executive resigns for Good Reason
(defined below) in either case effective prior to the end of the then current
Term or any then current renewal Term, Executive shall receive all Earned and
Vested benefits and Severance provided for in Section 3 hereof.  Furthermore, in the event of such termination
by the Company without Cause or a resignation by the Executive for Good Reason
provided in the previous sentence,  the Executive shall be under no
obligation to seek other employment. 
However, should the Executive find other employment, the Company shall
continue to pay Severance in accordance with Section 3.6 above, but Welfare Benefits
received from such employment during the remainder of what would otherwise have
been the then current Term shall be deducted from amounts due from the Company
under this section.  For purposes of this
Agreement, “Good Reason” shall mean any of the following, without Executive’s
prior consent (1) Company relocating Executive outside of the Washington,
D.C. metropolitan area, (2) assignment of duties to Executive that are not
senior management duties without Executive’s prior written consent,
(3) any reduction of Base Salary, (4) failure to pay the Base Salary
to Executive when due, which failure is not cured within 3 business days after
written notice to Company, (5) requirement by the Company of business
travel by Executive more than 110 days per year after notice  from Executive that requested travel would
exceed such limit, (6) Change of Control (defined below), or (7) any
material breach of this Agreement by the Company, which breach is not cured
within 14 days after written notice of such breach.  Change of Control means the  sale of a Controlling Interest in IHS to an
enterprise or group of related enterprises (other than a person or entity
related to IHS prior to such sale) not reasonably satisfactory to the
Executive.  Controlling Interest means ownership
of a sufficient number of shares to elect a majority of the board of directors
of IHS.

4.5                                 Death/Disability.  This Agreement shall terminate automatically
upon the death of Executive.  For the
purposes of this Agreement, “Disability” shall mean that (i) for any
period of one hundred and twenty (120) consecutive days, or (ii) for one
hundred and twenty (120) days in any period of two hundred and seventy (270)
consecutive days, Executive is absent or unable to perform Executive’s duties
with the Company on a full time basis as a result of incapacity due to mental
or physical illness.  Executive may be
terminated by written notice to Executive from the Company at any time after
the Executive meets the definition of Disability upon one (1) month’s prior
notice.  Executive options and shares

 6
 

acquired
pursuant to the exercise of options shall be subject to the applicable
provisions of the 2002 IHS Group Inc. Non-Qualified Stock Option Plan or such
other plan pursuant to which such options were granted.

5.                                      Proprietary
Rights.

5.1                               Invention
and Non-Disclosure Agreement.    Simultaneously with the execution of this
Agreement, Executive will execute and deliver to the Company an Employee
Invention and Non-Disclosure Agreement in the form attached hereto as Exhibit
A.  As used in the Employee Invention and
Non-Disclosure Agreement, the term “Confidential Information” shall include,
without limitation, all confidential or proprietary information of CERA known
to Executive on the date hereof. 
Anything in the Employee Invention and Non-Disclosure Agreement to the
contrary notwithstanding, it is understood that intellectual property created
by Executive solely in connection with the Permitted Outside Activities shall
be the exclusive property of Executive in respect of which the Company shall
have no rights whatsoever except to the extent any such rights are hereafter
granted by Executive to the Company in writing.

6.                                      Non-Competition
and Non-Solicitation.

Executive agrees that for a period of one
year following termination of Executive’s employment with the Company, unless
Executive’s employment is terminated effective prior to the third anniversary
of the date hereof by the Company other than pursuant to Section 4.3 above or
by Executive for Good Reason, Executive will not (i) for himself or on behalf of
any other person or entity, in the United States of America or elsewhere in the
world, directly or indirectly, engage in, acquire any financial or beneficial
interest in (except as provided in the next sentence), be employed by, consult
for, own, manage, operate, control or otherwise participate in or with any
person or entity which is engaged in, any business that competes with the
Syndicated Energy Research Business (defined below), or (ii) solicit or attempt
to entice away from IHS Energy Group, or otherwise interfere with the business
relationship of IHS Energy Group with, any person or business entity who is, or
was during the three year period prior to Executive’s termination of
employment, a customer or employee of, consultant or supplier to, or other
person or entity having material business relations with, IHS Energy
Group.   Notwithstanding the preceding
sentence, Executive may purchase or otherwise acquire up to one percent of any
class of securities of any entity (but without otherwise participating in the
activities of such entity) if such securities are listed in any national or
regional securities exchange or have been registered under Section 12(g) of the
Securities Exchange Act of 1934.   As
used in this Section, “Syndicated Energy Research Business” means any of the
research, analysis, advisory, consulting and/or applications businesses
regarding the energy industries engaged in by CERA or any of its subsidiaries,
but does not in any event, during the one year period following termination of
employment, include consulting with an investment bank, a private equity group,
an academic or think tank institution or, on a substantially full-time or
part-time basis, any other single enterprise provided none of the foregoing
engages in or intends to engage in the energy consulting business.  Although Executive acknowledges and agrees
that the restrictions herein are reasonable, to the

 7
 

extent that any part of this Section 6 may be
invalid, illegal or unenforceable for any reason, it is intended that such part
shall be enforceable to the maximum extent that a court of competent
jurisdiction shall determine that such part, if more limited in scope, would
have been enforceable, and such part shall be deemed to have been so written
and the remaining parts shall as written be effective and enforceable in all
events.

7.                                      Miscellaneous.

7.1                                 Entire
Agreement; Amendments.  This
Agreement and the Employee Invention and Non-Disclosure Agreement are the
entire agreement between the parties on the subject matter and supersede any
prior understandings, agreements, or representations between the parties,
written or oral, to the extent they related to the subject matter hereof,
including, without limitation, the Employment Agreement dated February 12, 1999
between CERA and the Executive (“Prior Employment Agreement”).  Anything in the Prior Employment Agreement to
be contrary notwithstanding, none of the Sections or terms thereof shall
survive the termination of the Prior Employment Agreement.  The parties have entered into a separate
Non-Competition Agreement on the date hereof (“Non-Competition Agreement”), and
nothing in this Agreement is intended to limit any rights of the Company or its
affiliates under the Non-Competition Agreement. 
The non-competition covenants in Section 6 of this Agreement are in
addition to, and not in any way intended to limit, the non-competition
covenants in the Non-Competition Agreement. 
No amendment of any provision of this Agreement shall be valid unless in
writing and signed by the Company and Executive.  No waiver by any party of any default,
misrepresentation, or breach of warranty or covenant hereunder, whether
intentional or not, shall be deemed to extend to any prior or subsequent
default, misrepresentation, or breach of warranty or covenant hereunder or
affect in any way any rights arising by virtue of any prior or subsequent such
occurrence.

7.2                                 Arbitration.  Any controversy, dispute, or claim between
the Executive and the Company  arising
out of, in connection with, or in relation to the interpretation, performance
or breach of this Agreement will be resolved exclusively by confidential
arbitration conducted in Boston, Massachusetts in accordance with the
Commercial Arbitration Rules of the American Arbitration Association at that time
in effect before a panel of three arbitrators, one selected by the Company, one
by the Executive and the third by the two so selected.  The arbitrators shall have no authority to
amend this Agreement and any award rendered by a majority or more of the arbitrators
may be entered by any court having jurisdiction.   The fees and expenses of the arbitrators
shall be split equally by the Company and Executive and otherwise each party
shall bear its own expense.   
Notwithstanding the foregoing, either party may seek injunctive or
equitable relief in a court.

7.3                                 Notices.  All notices, requests, consents and other
communications hereunder shall be in writing and shall be delivered personally,
by courier services or by certified or registered mail and shall be effective
upon receipt, in each case addressed:

 8
 

If to the Executive, to:

Daniel H. Yergin

2959 Davenport Street, NW

Washington, DC  20008

With a copy to:

Cadwalader, Wickersham & Taft LLP

100 Maiden Lane

New York, NY  10038

Attention:              John F. Fritts,
Esq.

If to the Company, to:

IHS Energy Group Inc.

15 Inverness Way East

Englewood, Colorado 80112

Attention:                                         President

With a copy to:

IHS Group Services Inc.

1350 Avenue of the Americas, Suite 840

New York, New York  10019

Attention:              General Counsel

provided, however that if
any party shall have designated a different address by notice to the other,
then to the last address so designated.

7.4                                 Sucessors
and Assigns.  This Agreement will be
binding upon and inure to the benefit of the parties, their respective successors
and permitted assigns.  Neither party may
assign its rights hereunder without the prior written consent of the other;
provided, however, the Company may assign this Agreement without consent of
Executive upon the transfer of all or substantially all of the business and/or
assets of CERA and/or the Company (whether by purchase, merger, consolidation
or otherwise).

7.5                                 Governing
Law.  All questions with respect to
this Agreement and the rights and liabilities of the parties shall be governed
by the laws of the Commonwealth of Massachusetts, regardless of the choice of
law provisions of that commonwealth or any other jurisdiction.

7.6                                 Severability.  The validity, legality or enforceability of
the remainder of this Agreement will not be affected even if one or more of the
provisions of this Agreement will be held to be invalid, illegal or
unenforceable in any respect.

 9
 

7.7                                 Counterparts.  This Agreement may be executed simultaneously
in two or more counterparts, each of which will be deemed an original, but all
of which together will constitute one and the same instrument.

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

	
  IHS Energy Group Inc.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By

  	
     /s/ Stephen Green

  	
   

  	
    /s/   Daniel H. Yergin

  
	
  Name   Stephen
  Green

  	
   

  	
  Daniel H. Yergin

  
	
  Title     Vice
  President

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  The
  undersigned agrees to be bound by the

  provisions in paragraph 3.2 above:

  IHS Group Inc.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By 

  	
     /s/ Stephen Green

  	
   

  
	
  Name   Stephen
  Green

  	
   

  	
   

  
	
  Title    Vice
  President

  	
   

  	
   

  
						

 

 10

Attachment A

Dan
Yergin Performance Bonus Structure

Performance Compensation Outline

Performance
Bonus Structure

Total 5 Year Bonus
Opportunity: $2,876K

	
  2005

  	
   

  	
  2006

  	
   

  	
  2007

  	
   

  	
  2008

  	
   

  	
  2009

  	
   

  
	
  $

  	
  400K

  	
   

  	
  $

  	
  488K

  	
   

  	
  $

  	
  575K

  	
   

  	
  $

  	
  663K

  	
   

  	
  $

  	
  750K

  	
   

  
															

 

Performance
Bonus Elements

·                  Leadership

·                  CERA Performance

·                  Key
Account Revenue Growth

	
  Bonus Element%

  	
   

  	
       2005     

  	
   

  	
       2006     

  	
   

  	
       2007     

  	
   

  	
       2008     

  	
   

  	
       2009     

  	
   

  
	
  Leadership

  	
   

  	
  40

  	
  %

  	
  40

  	
  %

  	
  40

  	
  %

  	
  40

  	
  %

  	
  40

  	
  %

  
	
  CERA Performance

  	
   

  	
  40

  	
  %

  	
  40

  	
  %

  	
  40

  	
  %

  	
  40

  	
  %

  	
  40

  	
  %

  
	
  Key Account
  Performance

  	
   

  	
  20

  	
  %

  	
  20

  	
  %

  	
  20

  	
  %

  	
  20

  	
  %

  	
  20

  	
  %

  
	
  Total

  	
   

  	
  100

  	
  %

  	
  100

  	
  %

  	
  100

  	
  %

  	
  100

  	
  %

  	
  100

  	
  %

  

 

	
  Bonus Element Value $

  	
   

  	
       2005     

  	
   

  	
       2006     

  	
   

  	
       2007     

  	
   

  	
       2008     

  	
   

  	
       2009     

  	
   

  
	
  Leadership

  	
   

  	
  $

  	
  160K

  	
   

  	
  $

  	
  195K

  	
   

  	
  $

  	
  230K

  	
   

  	
  $

  	
  265K

  	
   

  	
  $

  	
  300K

  	
   

  
	
  CERA Performance

  	
   

  	
  $

  	
  160K

  	
   

  	
  $

  	
  195K

  	
   

  	
  $

  	
  230K

  	
   

  	
  $

  	
  265K

  	
   

  	
  $

  	
  300K

  	
   

  
	
  Key Account
  Performance

  	
   

  	
  $

  	
  80K

  	
   

  	
  $

  	
  98K

  	
   

  	
  $

  	
  115K

  	
   

  	
  $

  	
  133K

  	
   

  	
  $

  	
  150K

  	
   

  
	
  Total

  	
   

  	
  $

  	
  400K

  	
   

  	
  $

  	
  488K

  	
   

  	
  $

  	
  575K

  	
   

  	
  $

  	
  663K

  	
   

  	
  $

  	
  750K

  	
   

  

 

Objectives
–Metrics -Targets

I.
Leadership

Objectives:

·                  Mentor
and help develop next generation and future leaders of CERA and assist putting
in place appropriate successor strategy

·                  Build
and maintain relationships with “C” level executives and board of directors
globally within the industry, financial institutions and governments

·                  Be
a public spokesman promoting CERA and IHS, contributing to the IPO as required,
to the degree such contribution does not detract from fulfillment of other
obligations

·                  Provide
oversight to the research agenda and quality

 11
 

·                  Provide
thought leadership in the industry

·                  Participate
in meetings with high level business and government organizations, associations
and symposia

·                  50%
of leadership bonus will be based on commercial goals established by IHS Energy
where Yergin has a material impact, such as:

·                                          introduction
and development of NOC and IOC relationships which can be leveraged by IHS
Energy

·                                          development
of customer relationships which lead to consulting, retainer related and data
sales agreements

Metrics:

2005 – 2009            Annual metrics to be determined by
President, COO IHS Energy

Performance
Compensation Outline

Objectives
–Metrics –Targets

II.   CERA Performance

Objectives:

Annual achievement of
CERA Revenue Plan

Metrics-Targets:

Annual payout trigger at
achievement of 80% of CERA PBIT Plan

2005:   **  - 50%
of Bonus target at -** to100% of Bonus at plan achievement

2006:   **  - 50%
of Bonus target at -** to100% of Bonus at plan achievement

2007:   **  - 50%
of Bonus target at -** to100% of Bonus at plan achievement

2008:   **  - 50%
of Bonus target at -** to100% of Bonus at plan achievement

2009:   **  - 50% of Bonus target at -** to100% of Bonus
at plan achievement

III.  Key Account Revenue Growth

Objectives:

Net new revenue recognized
by IHS Energy in existing and new accounts arising out of or in connection with
Yergin efforts and in accord with agreed strategy.

Annual payout trigger at
achievement of 80% of IHS Energy PBIT Plan

Metrics-Targets:

2005:   **  - 50%
of Bonus target at ** to 100% of Bonus target at ** million

2006:   **  - 50%
of Bonus target at ** to 100% of Bonus target at ** million

2007:   **  - 50%
of Bonus target at ** to 100% of Bonus target at ** million

2008:   **  - 50%
of Bonus target at ** to 100% of Bonus target at ** million

2009:   **  - 50% of Bonus target at ** to 100% of Bonus
target at ** million

**                                  Confidential
information appearing in this document has been omitted pursuant to a request
for confidential treatment and filed separately with the Securities and
Exchange Commission in accordance with the Securities Exchange Act of 1934, as
amended, and Rule 24b-2 promulgated thereunder. Omitted information has been
replaced with asterisks.

 12Exhibit
10.31

NON-COMPETITION
AGREEMENT

This NON-COMPETITION
AGREEMENT (the “Agreement”) is made and entered into on September 1, 2004 by
and between IHS Energy Group Inc., a Delaware corporation  (“Purchaser”), and Daniel H. Yergin
(“Yergin”).

RECITALS

A.                            Simultaneously with the execution of this
Agreement, Purchaser is acquiring all of the issued and outstanding capital
sock of Cambridge Energy Research Associates, Inc., a Massachusetts corporation
(“CERA”).   The business of CERA is both
national and international in scope.

B.                            Yergin 
is a founder, a shareholder and the Chairman of CERA.    Yergin’s ownership of  and employment by CERA has brought Yergin in
close contact with certain confidential affairs of CERA  not readily available to the public.

C.                            This
Agreement is entered into by the parties hereto as a condition to the
consummation of the purchase of the stock of CERA by Purchaser.   The execution and performance of this
Agreement is a substantial inducement to Purchaser to purchase such stock.

AGREEMENT

Now, therefore, in
consideration of the premises and mutual promises contained herein, the parties
hereto covenant and agree as follows:

1.             Covenant Not to Compete, Confidentiality.

(a)                           Yergin covenants and
agrees with Purchaser that Yergin will not at any time during the five year
period commencing on the date of this Agreement (the “Restricted Period”) for
himself or on behalf of any other person or entity, in the United States of
America or elsewhere in the world, directly or indirectly, engage in, acquire
any financial or beneficial interest in (except as provided in subparagraph (b)
below), be employed by, consult for, own, manage, operate, control or otherwise
participate in or with any person or entity which is engaged in, any business
that competes with the Business (defined below).    As used in this Agreement, “Business” means
any of the research, analysis, advisory, consulting and/or applications
businesses regarding the energy industries engaged in by CERA or any of its
subsidiaries, but does not in any event, at such time as Yergin is no longer
employed by Purchaser, include 
consulting with an investment bank, a private equity group, an academic
or think thank

institution or, on a
substantially full-time or part-time basis during any single 12-month period,
any other single enterprise provided none of the foregoing engages in or
intends to engage in the energy consulting business.

(b)                           Notwithstanding
subparagraph (a) of this paragraph 1, Yergin may purchase or otherwise acquire
up to one percent of any class of securities of any entity (but without
otherwise participating in the activities of such entity) if such securities
are listed in any national or regional securities exchange or have been
registered under Section 12(g) of the Securities Exchange Act of 1934.

(c)                           Yergin covenants and
agrees with Purchaser that Yergin will not at any time during the Restricted
Period solicit or attempt to entice away from CERA or Purchaser, or otherwise
interfere with the business relationship of CERA or Purchaser with, any person
or business entity who is on the date hereof or who becomes at any time during
the Restricted Period, a customer or employee of, consultant or supplier to, or
other person or entity having material business relations with, CERA or
Purchaser.

(d)                           Yergin agrees that
Yergin will not, at any time hereafter, make use of or disclose  (except 
to Purchaser) any confidential or proprietary information (except that
which is in the public domain) relating to the business, products, customers,
content providers, suppliers or other affairs of CERA.

(e)                           If any covenant or
provision herein is determined to be void or unenforceable in whole or in part,
it shall not be deemed to affect or impair the validity of any other covenant
or provision.  Yergin hereby agrees that
all restrictions in paragraph 1 are reasonable and valid in the circumstances
but if such provisions are determined by any court to be invalid or
unenforceable by reason of such provisions extending for too great a period of
time or over too great a geographical area, the provisions of paragraph 1
hereof shall be interpreted to extend only over the maximum period of time and
geographical area which such court determines to be valid and enforceable.

2.             Additional Agreements [As amended February 23, 2005]

a)             The provisions of this Agreement,
including the covenants in paragraph 1 above, shall remain in full force and
effect whether or not Yergin is employed by Purchaser and regardless of the
circumstances under which such employment ends.    As further consideration for such
covenants, in the event Yergin is employed by Purchaser from the date of this
Agreement through March 1, 2007, or Yergin’s employment is terminated by
Purchaser without Cause prior to March 1, 2007 or Yergin terminates his
employment with Purchaser for Good Reason prior to March 1, 2007, then
Purchaser shall pay Yergin forty-two monthly payments in

 2
 

the amount of
Thirty-Four Thousand Two Hundred and Eighty-Six Dollars ($34,286)  each, on the first day to the month
commencing March 1, 2005 and ending August 1, 2008, inclusive.  In the event Yergin terminates his employment
with Purchaser other than for Good Reason or Yergin’s employment is terminated
by Purchaser for Cause prior to March 1, 2007 or Yergin  dies prior to March 1, 2007, Yergin shall
receive a pro rata portion of the payment provided above that would otherwise
be due on the next monthly payment date following the date of termination of
employment, including termination as a result of death (such pro rata payment
based on the period from the preceding monthly payment date to the date of
termination) and, except for such pro rata amount, no further payments shall be
due under this paragraph 2.   In the
event Yergin’s employment is terminated by Purchaser after March 1, 2007 or
Yergin terminates his employment with Purchaser after March 1, 2007 regardless
of the reason for such termination, including termination as a result of
Yergin’s death after March 1, 2007, then Purchaser shall pay Yergin the amounts
set forth above on the applicable monthly payment dates set forth above.  As used in this paragraph 2, the terms
“Cause” and “Good Reason” shall have the meanings set forth in the Employment
Agreement dated September 1, 2004 between Yergin and Purchaser.  In addition, as further consideration for the
covenants in paragraph 1 above, simultaneously with this Amendment, Yergin has
been granted 120,000 restricted shares of Class A Common Stock of IHS Inc. with
a grant date of February 23, 2005 on the terms and subject to the provisions of
the IHS Inc. 2004 Long-Term Incentive Plan and the 2005 Restricted Stock Award
executed by Yergin and IHS Inc.”

b)            In the event during the term of this
Agreement there is an initial public offering of equity securities by an entity
which includes Purchaser, Yergin and Purchaser may mutually agree that in lieu
of cash payment any amounts payable to Yergin under subparagraph (a) above
shall be paid in options, shares or other equity instruments of the public
company on such terms and using such valuation methods for the equity as Yergin
and Purchaser may mutually agree.

3.             Remedies.              Yergin
recognizes and agrees that the violation of the provisions of this Agreement
cannot be reasonably or adequately compensated in damages and that, in addition
to any other relief to which Purchaser or its affiliates may be entitled at law
or in equity by reason of such violation, it shall also be entitled to
permanent and temporary injunctive and equitable relief, including specific
performance, without the necessity of posting bond.     Without limiting the generality of the
foregoing, Yergin specifically acknowledges that a showing by Purchaser or

 3
 

its affiliates of any
breach of any provision of this Agreement shall constitute, for the purposes of
all judicial determinations of the issue of injunctive relief, conclusive proof
of all of the elements necessary to entitle Purchaser or its affiliates to
temporary and permanent injunctive relief against Yergin.

4.             Jurisdiction.          Any
action or proceeding seeking to enforce any provision of, or based on any right
arising out of, this Agreement may be brought against either of the parties in
the United States District Court for the Eastern District of Massachusetts or
any court of the Commonwealth of Massachusetts located in the City of Boston,
and each of the parties hereby consents to the nonexclusive jurisdiction of
such courts (and of the appropriate appellate courts) in any such action or
proceeding and waives any objection to venue laid therein. Process in any
action or proceeding referred to in this paragraph may be served on either
party through the procedures established for notice herein.  Nothing herein shall affect the right of
either party to serve process in any other manner permitted by law or to
commence legal proceedings or otherwise proceed against the other party in any
other jurisdiction.

5.                             Miscellaneous.

5.1                           Notices. All
notices, consents and other communication under this Agreement shall be in
writing and shall be  delivered personally,
by courier services or by certified or registered mail and shall be effective
upon receipt,  in each case to the
appropriate addresses set forth below (or to such other addresses as either
party may designate as to itself by notice to the other party):

(a)           If to Purchaser:

IHS Energy Group Inc.

15 Inverness Way East

Englewood, Colorado 80112

Attention:  President

with a copy to:

IHS Group Services Inc.

1350 Avenue of the Americas, Suite 840

New York, New York 10019

Attention:  General Counsel

(b)           If
to Yergin:

Daniel H. Yergin

 4
 

2959 Davenport
Street, N.W.

Washington,
DC   20008

with a copy to:

Cadwalader, Wickersham & Taft

100 Maiden Lane

New York, NY  
10038

Attention:  John F. Fritts, Esq.

5.2                           Assignability and
Parties in Interest.               This
Agreement may be assigned by Purchaser to any subsequent transferee of all or
substantially all the business and/or assets of CERA and/or Purchaser (whether
by purchase, merger, consolidation or otherwise).  This Agreement shall enure to the benefit of
and be binding upon Purchaser and its permitted successors and assigns and upon
Yergin and his executors, administrators, heirs, legal representatives and
permitted successors and assigns.

5.3                           Governing Law.    This Agreement shall be governed by, and
construed and enforced in accordance with, the laws of the Commonwealth of
Massachusetts, without giving effect to the conflict of laws rules thereof.

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

5.5                           Complete Agreement.          This Agreement contains the entire
agreement between the parties hereto with respect to the matters contemplated
herein and shall supersede all previous oral and written agreements and all
contemporaneous oral negotiations, commitments, and understandings with respect
to the matters herein set forth.

5.6                           Modifications,
Amendments and Waivers.  No waiver or
modification or termination of this Agreement shall be binding unless it is in
writing signed by the parties hereto.  No
waiver of a breach hereof shall be deemed to constitute a waiver of future
breach, whether of a similar or dissimilar nature.  The parties waive their right to enforce any
rule of law that suggests that a provision requiring that any modification be
in writing may itself be modified orally.

 5
 

5.7                           Interpretation.   The headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

IN
WITNESS WHEREOF, each of the parties has executed this

Agreement as of the date
first above written.

	
  

  	
  IHS Energy Group Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
     /s/ Steve Green

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title: 

  	
  Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
       /s/
  Daniel H. Yergin

  	
   

  
	
   

  	
  Daniel H. Yergin

  	
   

  
						

 

 6

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