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NORD RESOURCES
CORPORATION
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3048 N. Seven Dash Road, P.O. Box
384
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Dragoon, AZ 85609
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(520) 588-2241 - Fax (520)
588-7020
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www.nordresources.com
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February 15, 2006
Mr. Nicholas Tintor
1466 Crescent Road
Mississauga, ON L5H 1P6
Canada
VIA EMAIL ONLY: nicktintor@yahoo.ca
Dear Nick:
The Directors of Nord Resources
Corporation (the “Company”) are pleased to offer you
the position of Chief Executive Officer and President. Your strong
Canadian mining industry background, your honesty, integrity and
reputation have led to our decision. We are confident you will make
an important contribution to Nord Resources.
Your initial salary will be
$6,000 per month and will increase to $200,000 per annum contingent
and effective upon the Company receiving funding of at least $25
million dollars. Your salary of $6,000 per month will be accrued
but will remain unpaid during the interim period between your
acceptance of this offer and the date (the “Funding
Date”) on which the Company receives such funding, and such
accrued salary will become due and payable to you no later than the
fifth business day following the Funding Date. Thereafter, your
annual salary will be paid in equal biweekly instalments pursuant
to Company practice. In addition, your salary will be subject to
annual review. You agree that: (a) you will report to the Executive
Committee of the Company’s Board of Directors; and (b) in the
event that the Funding Date does not occur on or before August 31,
2006, you will voluntarily resign as Chief Executive Officer and
President as of that date without any right or entitlement to
receive any payments or other benefits in respect of severance or
termination of your employment.
Subject to your written
acceptance of this offer,
