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| OLYMPUS PACIFIC MINERALS INC.  Per:  “Jane Bell” |                    |
|----------------------------------------------------------------------------------|-------------------------|
| Name:                                                                            | Jane Bell               |   |
| Title:                                                                           | Chief Financial Officer |   |

| JURA TRUST LIMITED as trustee of the Jura Trust Per:  “John Seton” |       |
|-----------------------------------------------------------------------------------------------|------------|
| Name:                                                                                         | John Seton |   |
| Title:                                                                                        |       |   |

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| (a)   | Name:                        John Seton |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Position:                   Chief Executive Officer |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | Period:                      1 January 2012 to 30 June 2012 |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | TOTAL Direct Compensation Target pa , made up from (e) Annual Base Salary, (f) STIP $ Target Bonus, (g) LTIP $ Target Opportunity: = C$ 717,600 |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | Annual Base Salary = C$305,000 |
|-----------------|--------------------------------|

| (f)   | Your STIP Target $ Bonus and as % of Annual Base Salary are: |
|-----------------|--------------------------------------------------------------|

| a.   |  Production |
|----------------|------------------|

| b.   | Financial |
|----------------|-----------|

| c.   | Exploration |
|----------------|-------------|

| (g)   | Annual Long Term Incentive Plan (“LTIP”) target bonus to be added to Annual Base Salary |
|-----------------|-----------------------------------------------------------------------------------------------------|

| (i)   | $ Opportunity: C$130,050 worth of Olympus share options, as detailed in the Share Option Agreement relating to the 26 September 2011 granting. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------|

| (ii)   | Black Scholes Conversion Details are provided for your information. |
|------------------|---------------------------------------------------------------------|

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| (h)   | Account Details for Payments to be detailed on your invoice |
|-----------------|-------------------------------------------------------------|

| (i)   | Currency for payment is Canadian Dollars |
|-----------------|------------------------------------------|

| (j)   | Name for LTIP Options as per Share Option Agreement TBD |
|-----------------|---------------------------------------------------------|

| (k)   | Reimbursable Expenses and expatriate benefits: Travel and general business related expenses as per agreed policies on the Company’s internal website from time to time. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (l)   | Performance Criteria:  Meet requirements as specified from time to time by the Board of Olympus Pacific Minerals Inc. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------|

| (m)   | Number of Months for Payment Pursuant to Termination: six (6) months (Clause 5b) |
|-----------------|----------------------------------------------------------------------------------|

| (n)   | Number of Months for Payment Pursuant to Takeover of Control: Thirty (30) (Clause 5g) |
|-----------------|---------------------------------------------------------------------------------------|