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

| AVORA LTD. as Trustee of Lloyd Beaumont No 2 Trust  Per:  “Greg Barclay” |         |
|----------------------------------------------------------------------------------------------------------|--------------|
| Name:                                                                                                    | Greg Barclay |   |
| Title:                                                                                                   | Director     |   |

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

| (b)   | Position:                   Chief Commercial 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$428,400 |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | Annual Base Salary = C$231,000 |
|-----------------|--------------------------------|

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

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

| (i)   | $ Opportunity: C$52,500 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 available for your information. |
|------------------|----------------------------------------------------------------------|

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

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

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

| (l)   | 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. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (m)   | Performance Criteria:  Meet requirements as specified from time to time by the CEO, and/or the Board of Olympus Pacific Minerals Inc. and/or the Boards of the Company’s subsidiaries. |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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

| (o)   | Number of Months for Payment Pursuant to Takeover: Twenty four (24) (Clause 5g) |
|-----------------|---------------------------------------------------------------------------------|