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WAIVER AGREEMENT

Forbearance Agreement

WAIVER AGREEMENT | Document Parties: NORD RESOURCES CORP | JOHN T. PERRY You are currently viewing:
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NORD RESOURCES CORP | JOHN T. PERRY

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Title: WAIVER AGREEMENT
Governing Law: Arizona     Date: 3/28/2006
Industry: Metal Mining     Sector: Basic Materials

WAIVER AGREEMENT, Parties: nord resources corp , john t. perry
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WAIVER AGREEMENT

THIS AGREEMENT is made as of the 15 th day of February, 2006.

BETWEEN:

NORD RESOURCES CORPORATION , a corporation
organized under the laws of Delaware

(the " Company ")

AND:

JOHN T. PERRY , an adult individual residing in the County of
Pima, State of Arizona

( the "Executive")

WHEREAS

A .      The Company and the Executive entered into an executive employment agreement dated April 18, 2005 (the “ Employment Agreement ”) whereby the Executive agreed to act as Chief Financial Officer of the Company subject to the terms and conditions set out in the Employment Agreement;

B.       Section 7 of the Employment Agreement gives the Executive certain rights in relation to a Change in Control (as defined in the Employment Agreement) that may be triggered if the persons who constituted the board of directors of the Company as at April 18, 2005 cease for any reason to constitute at least a majority of the board of directors of the Company;

C.       As at April 18, 2005, the board of directors consisted of Ronald A. Hirsch, Erland A. Anderson and Stephen D. Seymour; and

D.       It is anticipated that Erland A. Anderson (“ Anderson ”) will resign as a director of the Company, and that the remaining directors will appoint Tintor, John F. Cook, Douglas P. Hamilton and Wade Nesmith (collectively, the “ New Directors ”) to fill the vacancies on the Company’s board of directors.

THIS AGREEMENT WITNESSES that in consideration of the payment by the Company to the Executive of co


 
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