EXECUTIVE EMPLOYMENT AGREEMENT

The Company is a publicly-listed mining company incorporated in Delaware and headquartered in Colorado, whose shares are publicly traded on the Toronto Stock Exchange (TSX) ;

The Company through various subsidiary entities is involved in all aspects of the international mining industry and, in particular, is assisting its wholly-owned subsidiary, Geovic, Ltd., a private corporation incorporated in the Cayman Islands and its majority-owned subsidiary, Geovic Cameroon PLC (“GeoCam”), a private corporation incorporated in the Republic of Cameroon in developing a cobalt- nickel-manganese mining project (“Project”) in the Republic of Cameroon. The Company also participates in other mineral and energy-related projects through its wholly-owned subsidiaries Geovic Energy Corp. and Pawnee Drilling, LLC, private companies incorporated in Colorado ;

The Company has no full time employees, as all its officers are employees of Geovic, Lt. which also is the employer of all other persons involved in the Company’s business ;

The Executive founded Geovic Ltd. and led all the initial corporate development activities including the discovery and acquisition of the Project and the establishment of GeoCam ;

The Executive is experienced, qualified and specializes in the formation of junior mining companies; and in particular, mineral prospect generation, evaluation and development while adding substantial value during all phases of project and corporate development, and the Executive has been an executive officer of the Company since December 2006; and

The Company desires to retain the Executive now as an executive officer of the Company and of Geovic Ltd., and as a full-time employee of Geovic Ltd. and Executive desires to continue his work in such capacities, all pursuant to the terms and conditions set forth in this Agreement.

Appointment, Duties and Term of Employment.

Job Description. Geovic Ltd., now the Company’s wholly-owned subsidiary, initially employed the Executive as President, effective November 1994 and Executive has served as President of the Company since December 2006. Executive has performed the job functions of President in an admirable and effective manner and is expected to continue to perform his duties and provide the services (“Services”) to the Company and Geovic Ltd. as more specifically outlined in Schedule I . The Executive also agrees to serve as President of the Company’s other wholly-owned subsidiaries, Geovic Energy Corp. and Pawnee Drilling, LLC as requested.

Appointment as Officer. At or prior to approval of this Agreement by the Board of Directors of the Company (“Board”), the Executive shall be appointed as President of the Company and shall be appointed a full-time employee and the President of Geovic Ltd. and shall perform all such other duties for the Company and its subsidiaries and affiliates as may from time to time be authorized or directed by the Chief Executive Officer (CEO) or the Board, including his current role as a director of the Company.

Term. The Executive shall be employed by the Company in all such capacities for an employment term (“Term”) which shall be deemed to have commenced as of 01 January 2008 and ending on 31 December 2009 subject to all the covenants and conditions hereinafter set forth, except that, commencing 01 January 2008, the Term of this Agreement shall be deemed automatically renewed for rolling two-year periods, whereby the Term of this Agreement is twenty four (24) months on a continuing basis.

The Executive shall report to the Chief Executive Officer (“CEO” or “Contact Person”) on most matters and to the Board on certain special matters if so requested. The Executive shall keep the CEO and Board well informed regarding Executive’s responsibilities and other Company and Geovic Ltd. matters and shall promptly respond to any reasonable requests by the CEO and Board in this regard. Executive shall also provide Services and assist the Company in reaching well-reasoned decisions and implementing those decisions regarding GeoCam and the Project, particularly those dealing with exploration and resource development matters of the subsidiary.

The Executive shall not be engaged directly or indirectly in any other business activity or previously have contracted to perform such activity at a future date which would prevent the performance of the obligations hereunder.

The Executive shall not conduct any unethical or illegal activities on behalf of the Company or Geovic Ltd. and agrees to comply with the Company’s Code of Business Conduct and Ethics.

The Executive shall be an officer of the Company and a full-time employee of Geovic Ltd. with the authority, autonomy and responsibility customary for a President. The Executive shall provide his Services exclusively to the Company and its subsidiaries, except that he may perform as an Outside Director on the Boards of no more than two other companies. Such outside directorships shall conform to Company’s priorities and place no unnecessary burden upon the Company or the Executive. During the Term of this Agreement, the Executive agrees to serve, if elected, as a director of the Company and/or Geovic Ltd. or as an officer or director of any other subsidiary or affiliate of the Company.

The Executive shall be allowed to own and control Sabina Resources Party Limited, an Australia corporation formed prior to Geovic Ltd. and the Company; Kymone Resources Pty. Ltd., an Australia corporation formed prior to Geovic Ltd. and the Company; Napavine Resources Corp., a private Oregon corporation formed prior to Geovic Ltd. and the Company; and Mune Holding LLC, a Colorado limited liability company formed after Geovic Ltd. and the Company. However, the Executive shall not provide Services to any of these companies and the Executive shall ensure that none of these entities or any such future entities will compete within a fifty (50) mile radius of any active Company project unless specifically authorized in writing by the Company. Executive shall also provide Company with a right of first refusal regarding participation in any such new resource venture in which the Executive is active.

The Executive shall be allowed to make passive investments in oil and gas properties and/or in companies developing oil and gas resources, but only if the Company has waived in writing its rights to participate in such venture or investment.

Consideration and expenses.

During the Term of this Agreement, in consideration of the Executive’s Services hereunder, including, without limitation, service as an officer or director of the Company or of any subsidiary or affiliate thereof and as a full-time employee of Geovic Ltd., the Company shall pay the Executive according to the attached Schedule II payable monthly in arrears on the last working day of each month or as otherwise stipulated in Schedule II. All payments of consideration and expenses shall be made by direct deposit to an account in the name of Executive at a financial institution selected by Executive and located in the United States. All currency herein is expressed in US dollars.

The Company or Geovic Ltd. shall pay or reimburse to the Executive:

All costs reasonably and properly expended by him on behalf of the Company for performance of Services, if proper documentation of such expenses is received by the Company in accordance with the Company’s normal expense reimbursement procedures;

During the Term of this Agreement, the Executive shall be entitled to participate in employee benefit plans or programs, if any, to the extent that Executive is eligible to participate in such plans or programs;

During the Term of this Agreement, Executive shall be entitled to participate in the Company’s Employee Stock Option Plan and the Company’s Annual bonus Program for Executives, subject to recommendations of the Compensation Committee and approval by the Company’s Board; and

Executive shall receive a vehicle allowance of $400 per month.

Such payments or reimbursements shall be made within seven (7) days of a request for reimbursement by the Executive together with provision by the Executive of such additional evidence and information as the Company or Geovic Ltd. shall reasonably require.

The Company shall pay the Executive’s medical insurance through the Company’s policy.

The Executive shall be entitled to take four (4) calendar weeks of paid vacation and one (1) week of unpaid vacation annually during the Term of this Agreement, subject to the dates being previously agreed by the CEO. Executive shall not be entitled to additional compensation if he fails to use this vacation, provided that with written approval of the CEO, up to two (2) weeks of annual vacation may be carried over to a succeeding year. The Executive shall also be entitled to take paid holidays in accordance with standard Company or Geovic Ltd. policy.

Executive shall accrue one (1) day of sick leave time per pay period, up to a maximum of 20 days, to be used only in connection with illness or medical conditions which interfere with providing Services.

Termination.

Either Party may terminate this Agreement and Executive’s employment with the Company by providing written notice to the other Party at least forty-five (45) days prior to the termination date.

The Company may terminate this Agreement and Executive’s employment with Geovic Ltd. without obligation to Executive by providing written notice to Executive at any time upon the occurrence of any one or more of the following events:

Executive’s breach of any material obligation owed the Company or Geovic Ltd. in this Agreement;

Executive’s neglect of duties to be performed under this Agreement;

Executive’s failure or refusal to follow lawful directions given by CEO or the Board.

Executive’s dishonest conduct or conduct that has damaged or will likely damage the reputation of the Company, or conduct which is clearly contrary to the Company’s Code of Business Conduct and Ethics;

Executive being convicted of a felony;

Executive engaging in any act of moral turpitude;

Death of Executive; or

Executive becoming permanently disabled for a period of six (6) consecutive months from performing the duties of his employment.

Anything contained in Section 3.2 to the contrary notwithstanding, the Company shall not terminate this Agreement and Executive’s employment with Geovic Ltd. pursuant to Section 3.2.1, 3.2.2 or 3.2.3 unless the Company shall have first given the Executive twenty-one (21) days’ prior written notice of such termination, which sets forth the grounds of such termination, and the Executive shall have failed to cure such grounds for termination within the twenty-one (21) day period.