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

| DASON INVESTMENTS LIMITED  Per:  “David Seton” |        |
|--------------------------------------------------------------------------------|-------------|
| Name:                                                                          | David Seton |   |
| Title:                                                                         |        |   |

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

| (b)   | Position:                     Executive Chairman |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| (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$ 795,000 |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | Annual Base Salary = C$ 320,000 |
|-----------------|---------------------------------|

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

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

| (i)   | $ Opportunity: C$157,500 worth of Olympus share options, as detailed in the Share Option Agreement relating to the 26 September 2011 granting. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------|

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

| (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:  Dason Investments Limited |
|-----------------|-------------------------------------------------------------------------------------------|

| (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: 12 (twelve) (Clause 5b) |
|-----------------|-------------------------------------------------------------------------------|

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