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| OLYMPUS PACIFIC MINERALS INC.  Per:  “John Seton” |                    |
|-----------------------------------------------------------------------------------|-------------------------|
| Name:                                                                             | John Seton              |   |
| Title:                                                                            | Chief Executive Officer |   |

| WHAKAPAI CONSULTING LIMITED  Per:  “Jane Bell” |      |
|--------------------------------------------------------------------------------|-----------|
| Name:                                                                          | Jane Bell |   |
| Title:                                                                         |      |   |

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| (a)   | Name:                        Jane Bell |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

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

| (d)   | TOTAL Direct Compensation Target, made up from (e) Annual Base Salary, (f) STIP $ Target Bonus, (g) LTIP $ Target Opportunity = C$339,500 |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | Annual Base Salary = C$180,000 |
|-----------------|--------------------------------|

| (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 |
|-----------------|-----------------------------------------------------------------------------------------------------|

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| (i)   | $ Opportunity: C$50,000 worth of Olympus share options, from 8 September 2011 as detailed in the Share Option Agreement relating to the 8 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  TBA |
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| (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. |
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| (l)   | Performance Criteria:  Meet requirements as specified from time to time by the CEO and/or the Board of OYM and/or its Committees. |
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| (m)   | Number of Months for Payment Pursuant to Termination: Six (6) (Clause 5b) |
|-----------------|---------------------------------------------------------------------------|

| (n)   | Number of Months for Payment Pursuant to Takeover of Control: Twelve(12) (Clause 5g) |
|-----------------|--------------------------------------------------------------------------------------|