| 1.   | Agreement.  The completed and signed Schedules attached to this agreement shall form part of this agreement and shall be governed by this Agreement, unless otherwise specified on the Schedule. |
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| 2.   | Services. The Company is retaining the services of the Consultant, to provide consulting services outlined in Schedule A, in accordance with the terms and conditions contained in this Agreement. The Consultant shall provide services in a professional, business-like manner in accordance with applicable law and, if applicable, the company’s workplace policies.  The Company agrees that the Consultant’s services are provided on a best efforts basis within the time constraints of the contract and the Consultant may provide certain recommendations to the Company periodically. |
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| 3.   | Term. The term of this Agreement will be for the duration outlined in Schedule A unless this Agreement is terminated earlier in accordance with the termination provisions below in this agreement or extended beyond the term upon mutual written agreement of both Parties. If this Agreement has not been terminated prior to the end of the Term and has not been renewed, it expires at the end of the Term with no obligation whatsoever on the part of either Party. |
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| 4.   | Fees. The fees shall be as outlined in Schedule B. For greater certainty, the company shall not be liable to provide or pay for any benefits (other than statutory benefits such as CPP and EI), such as, health, dental or worker’s compensation insurance coverage, pension contributions, vacation time or vacation pay, overtime pay, sick leave or emergency leave on account of the Consultant or termination or severance pay, and the Consultant acknowledges that it is not entitled to any of the foregoing benefits. |
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| 5.   | Business Expenses. The company shall reimburse the Consultant for reasonable and necessary expenses incurred by the Consultant, which have been pre-authorized by the company. For greater certainty, the company will not reimburse the Company for expenses related to a home office, tools and equipment, travel to and from the Consultant’s residence and the Company’s place of business. |
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|   | 6.   | Indemnification. The Company will extend any and all indemnification rights and Directors and Officers insurance coverage to the Consultant in his capacity of Chief Financial Officer as allowed by law. |
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|   | 7.   | Limitation of Liability. Consultant shall have no liability with respect to Consultant’s obligations under this Agreement or otherwise for consequential, exemplary, special, incidental, or punitive damages even if Consultant has been advised of the possibility of such damages. In any event, the liability of Consultant to Company for any reason and upon any cause of action, regardless of the form in which the legal or equitable action may be brought, including, without limitation, any action in tort or contract, shall not exceed ten percent (10%) of the fee paid by Company to Consultant for the specific service provided that is in question. |
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| 8.   | Termination of Agreement. This agreement may be terminated before the end of the original term  by either party by any of the following events: |
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| i)   | Two weeks written or verbal notice by either Party to the other, which may be effective immediately or termination effective a mutually agreeable date or |
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| ii)   | Upon the bankruptcy or insolvency of either Party; or |
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| iii)   | Upon the death or incapacity of the Consultant. |
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| 9.   | Intellectual and Proprietary Rights. The Consultant recognizes that all rights, including, without limitation, all intellectual and other proprietary rights, and documentation related thereto, which have been provided by the Company to the Consultant in connection with the performance of any of the services, are owned and shall continue to be owned by the Company. The Company also recognizes agrees further that all intellectual and other proprietary rights, in and to any methods, systems, inventions, concepts, ideas, know-how, data and databases, technology, and any enhancements, modifications, or additions to the foregoing or to any products owned, marketed or used by as well as any and all material, documentation, information and goods of the company, which have been created or developed by the Consultant in connection with the performance of the services shall enure to the benefit of the Company. |
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| 10.   |  Confidentiality. The Consultant further acknowledges that in the course of providing services under this Agreement he may acquire information confidential to the company which information is the property of the company. As such, the Consultant agrees to treat as confidential and not to use or disclose any such information, except as necessary in the performance of services for the company. |
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| 11.   | Assignment. This Agreement is not assignable without the Company’s prior written consent. |
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| 12.   | Governing Law. The Parties agree that this Agreement shall be governed by the laws of the Province of Ontario. |
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|                                                                          |   |   |                                      |   |
|-------------------------------------------------------------------------------|--------|--------|-------------------------------------------|--------|
| /s/Nataliya Hearn                                                   |   |   | /s/ Philip Clark                          |   |
| Name: Nataliya Hearn                  |   |   | Name: Philip Clark                        |   |
| Title: CEO                                      |   |   | Title:  Chief Financial Officer |   |
|                                                                          |   |   |                                      |   |
| American Rare Earths and Materials, Corp.       |   |   | American Rare Earths and Materials, Corp. |   |

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| -   | Oversee US and Canadian Tax filings |
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| -   | Setting up accounting structures and processes, including training of staff and/or assist in acquiring the right skill sets in accounting resources |
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| -   | Preparation of budgets and analyze operational expenses against budgets |
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| -   | Recommend policies and procedures for control of operational expenses |
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| -   | Provide guidance on processes for SOX compliance |
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| -   | Assist CEO in negotiations with banking and financing negotiations |
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| -   | Assist CEO in analysis of possible M&A |
|---------------|--------------------------------------------|

| -   | Work with Auditors to prepare required financial analysis and schedules |
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| 1)   | Monthly cash fee (excluding additional time for significant special projects addressed below): |
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| 2)   | Deferred cash fee (excluding additional time for significant special projects addressed below): |
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