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  Exhibit 4.1    
    

 
 

  Form of Lock-Up Agreement    
    

Lock-Up
Agreement 

September 15,
2009 

DAHLMAN
ROSE & COMPANY, LLC

WELLINGTON WEST CAPITAL MARKETS INC.

    as Representative for the Underwriters

    listed in Schedule E to the Underwriting Agreement

c/o Dahlman Rose & Company, LLC

142 West 57th Street, 18th Floor

New York, New York 10019 

Ladies
and Gentlemen: 

        This
agreement ("Lock-Up Agreement") is being delivered to you in connection with the underwriting agreement
(the "Underwriting Agreement") entered into by Vista Gold Corp., a Canadian corporation
(the "Company"), and you with respect to the offering (the "Offering") of common shares,
without par value per share, of the Company (the "Common Shares"). Capitalized terms used herein without definition shall have the respective
meanings ascribed to them in the Underwriting Agreement. 

        The
execution and delivery by you of this Lock-Up Agreement is a condition to the closing of the Offering. In consideration of the closing of the Offering and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees that, for a period (the "Lock-Up
Period") beginning on the date hereof and ending on, and including, the date that is 90 days after the date of the final prospectus supplement relating to the Offering,
the undersigned will not, without the prior written consent of Dahlman Rose & Company, LLC and Wellington West Capital Markets Inc. (i) offer, sell, contract to sell,
pledge, transfer, assign or otherwise dispose of (including, without limitation, by making any short sale, engage in any hedging, monetization or derivative transaction) or file (or participate
in the filing of) a registration statement, prospectus or other Canadian securities offering document, with the U.S. Securities and Exchange Commission or any Canadian Regulator
(the "Commissions") in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within
the meaning of Section 16 of the U.S. Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the rules and
regulations of the Commissions promulgated thereunder with respect to, any Common Shares or any other securities of the Company that are substantially similar to Common Shares, or any securities
convertible into or exchangeable or exercisable for, or any warrants or other rights to purchase, the foregoing, (ii) enter into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of Common Shares or any other securities of the Company that are substantially similar to Common Shares, or any securities convertible
into or exchangeable or exercisable for, or any warrants or other rights to purchase, the foregoing, whether any such transaction is to be settled by delivery of Common Shares or such other
securities, in cash or otherwise or (iii) publicly announce an intention to effect any transaction specified in clause (i) or (ii). The foregoing sentence shall not apply to
(a) transfers of shares of Common Shares or any security convertible into or exercisable or exchangeable for Common Shares disposed of as bona fide gifts, (b) transactions by the
undersigned relating to shares of Common Shares or other securities acquired in open market transactions after the completion of the Offering, (c) entry into written trading plans for the sale
or other disposition by the undersigned of Common Shares for purposes of complying with Rule 10b5-1 of the Exchange Act
("10b5-1 Plans"), provided that no sales or other distributions pursuant to a 10b5-1 Plan may occur until the
expiration of the Lock-Up Period, (d) transfers by the undersigned of shares of Common Shares or any security convertible into or exercisable or exchange able for Common Shares as a
result of testate, intestate succession or bona fide estate planning, (e) transfers by the undersigned to a trust, partnership, limited liability company or other entity, the majority of
the beneficial interests of which are held, directly or indirectly, by the undersigned, (f) distributions by the undersigned of shares of Common Shares or any security convertible into or
exercisable 

or
exchangeable for Common Shares to limited partners or stockholders of the undersigned and (g) the exercise of an option or warrant or the conversion of a security outstanding on the date of
this Lock-up Agreement by the undersigned pursuant to the Company's Stock Option Plan; provided that in the case of any such permitted transfer or distribution pursuant to
clause (a), (d), (e), (f) or (g), each transferee or distribute shall sign and deliver a lock-up letter substantially in the form of this Lock-Up
Agreement. 

        In
addition, the undersigned hereby waives any rights the undersigned may have to require registration of Common Shares in connection with the filing of any registration statement or
prospectus to be filed with the Commission by the Company. The undersigned further agrees that, during the Lock-Up Period, the undersigned will not, without the prior written consent of
Dahlman Rose & Company, LLC and Wellington West Capital Markets Inc., make any demand for, or exercise any right with respect to, the registration (or equivalent) of Common
Shares or any securities convertible into or exercisable or exchangeable for Common Shares, or warrants or other rights to purchase Common Shares or any such securities. 

        If
(i) during the period that begins on the date that is 15 calendar days plus three business days before the last day of the Lock-Up Period and ends on the
last day of the Lock-Up Period, the Company issues an earnings release or material news or a material event relating to the Company or any of its material mineral properties occurs; or
(ii) if prior to the expiration of the Lock-Up Period, the Company announces that it will release earnings results during the 16-day period beginning on the last day of
the Lock-Up Period, then the restrictions imposed by this Lock-Up Agreement shall continue to apply until the expiration of the date that is 15 calendar days plus three
business days after the date on which the issuance of the earnings release or the material news or material event occurs; provided, however, this
sentence will not apply if, within three days of the termination of the Lock-Up Period, the Company delivers to Dahlman Rose & Company, LLC and Wellington West Capital
Markets Inc. a certificate, signed by the Chief Financial Officer or Executive Chairman and Chief Executive Officer of the Company, certifying on behalf of the Company that the Company's shares
of Common Shares are, as of the date of delivery of such certificate, are "actively traded securities," within the meaning of Conduct Rule 2711(f)(4) of Financial Industry Regulatory
Authority, Inc. Such notice shall be delivered in accordance with Section 15 of the Underwriting Agreement. 

        The
undersigned hereby confirms that the undersigned has not, directly or indirectly, taken, and hereby covenants that the undersigned will not, directly or indirectly, take, any action
designed, or which has constituted or will constitute or might reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate
the sale or resale of the shares of Common Shares. The undersigned hereby authorizes the Company and its transfer agent, during the Lock-Up Period, to decline the transfer of or to note
stop transfer restrictions on the stock register and other records relating to shares of Common Shares or other securities subject to this Lock-Up Agreement of which the undersigned is the
record holder, and, with respect to shares of Common Shares or other securities subject to this Lock-Up Agreement of which the undersigned is the beneficial owner but not the record
holder, the undersigned hereby agrees to cause such record holder to authorize the Company and its transfer agent, during the Lock-Up Period, to decline the transfer of or to note stop
transfer restrictions on the stock register and other records relating to such shares or other securities. 

        The
undersigned hereby represents and warrants that it has full power and authority to enter into this Lock-Up Agreement and that such agreement is enforceable against it in
accordance with its terms. 

        This
Lock-Up Agreement constitutes the entire agreement and understanding between and among the parties with respect to the subject matter of this Lock-Up
Agreement and supersedes any prior agreement, representation or understanding with respect to such subject matter. 

        This
Lock-Up Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and performed within the
State of New York. 

 *  *  *  

        If
(a) the Company notifies you in writing that it does not intend to proceed with the Offering, (b) the registration statement filed with the Commission with respect to
the Offering is withdrawn or (c) for any reason 

the
Underwriting Agreement shall be terminated prior to the "time of purchase" (as defined in the Underwriting Agreement), this Lock-Up Agreement shall be terminated and the
undersigned shall be released from its obligations hereunder. 

        [Signature Page to Follow]

IN
WITNESS WHEREOF, the undersigned has executed this Lock-up Agreement to be effective as of the date set forth above. 

 

                                         
                                          
   
 

QuickLinks

Exhibit 4.1

Form of Lock-Up AgreementExhibit 10.24

 

 

April 2, 2009

 

Dear Tara:

 

It is a pleasure to present
this offer for you to join the bebe team. The following details summarize
your position, compensation, benefits, and other pertinent information relative
to your offered employment with bebe stores, inc.

 

1.               Position:

 

For the first 30
days, you will be employed as a Consultant at a rate of $37,500.00 per month.   After the initial 30 days, you will be employed
as Divisional President, BEBE SPORT.  You
will be based in our Los Angeles Design Studio. Your exact start date is to be
determined by the company.  You will be
reporting to Manny Mashouf, Chairman & Chief Executive Officer.

 

2.               Compensation:

 

We are offering
you the following compensation package:

 

a.                                       Base Salary:

 

As Divisional
President, BEBE SPORT, your base salary will be $450,000.00 annually.  Your base salary will be increased to $500,000.00 annually starting in September 2009,
and paid retroactively to July, if the month of July 2009 comp sales for
the BEBE SPORT division are equal to or greater than 0% (flat) against the
previous July sales. Salaries are earned and paid in bi-weekly
increments.

 

b.                                      Bonus:

 

You are not eligible to
participate in the FY09 Management Bonus Plan

 

You will be eligible to
participate in the 60% pool of the FY10 bebe discretionary bonus plan as
follows:

 

·                  50% earned if
FY10 divisional comp sales are equal to or greater than +10%

·                  Remaining 50% earned
if divisional income is equal to or greater than $0 for the performance period
of FY10

 

Your eligibility
and payout, if any, is subject to all rules contained in the effective
Management Bonus Plan (which include, among other items, the requirement that,
to be eligible for any payout, and in addition to your meeting all set goals,
the bonus being divided into its various components, and any portion of the bonus
needing ultimate approval by the appropriate review team, that you are employed
as of the date bonus are paid out).  If
achieved and awarded, bonus is calculated on base salary earned during the
Fiscal year.

 

c.                                       Stock Options:

 

I. Time Vest
Options:

 

The Grant Date and
consequently the Fair Market Value (FMV) or price of any issuances under the
1997 Stock Plan as amended (Plan) would be set as of the 15th of the month
following the month of your date of hire. Notwithstanding the foregoing,
if any signature to the Compensation Committee’s unanimous written consent is
dated after the intended effective date, the grants shall be effective on the
date the last such signature is received.  Also notwithstanding the
foregoing, if the date of grant as determined by the above procedure
would fall between the end of an accounting period and the release of
earnings for that period, then the grant date will be moved to two
business days after the date of earnings release (or, if later, on the
day the last required Compensation Committee signature is received by the
company).  In the event
that the issuance date is a weekend or trading holiday, the following trading
day shall determine price/grant date.

 

i. Time Vest
Options:

 

After acceptance
of this offer and subject to approval by the board of directors, you would
receive an option to purchase 100,000 shares of bebe common stock, 

 

400 Valley Drive
Brisbane, CA  94005      Telephone 415.657.4472        Fax 415.657.4445

 

 

 

subject to vesting
periods and other standard provisions contained in the  Plan and issuance timing as stated in C.1
herein.

 

3.               Benefits:

 

a.                                       Employee Stock Purchase Plan:

 

You will be eligible to participate in the Employee Stock Purchase
Plan.

 

b.             bebe
Benefits Plan:

 

I.                 You will be eligible to participate in
the bebe Benefits Plan.  You will be
subject to the group program’s terms and provisions, limitations, exclusions,
and the company’s eligibility requirements, which will be explained to you
during the benefits orientation.

 

II.             For bebe executives, paid time off (PTO)
is discretionary and will not be accrued. The opportunity to take PTO is
contingent upon the executive’s workload and ability to manage their schedule.
As such, you will be eligible to take a maximum of 18  days of PTO per
year.

 

4.               Performance Reviews:

 

You will receive a
Performance Review on a biannual basis and be given a salary review, if merited
or otherwise appropriate, annually.

 

5.               At-Will Employment:

 

bebe stores, inc.’s
employment relationship with employees is an “at-will” arrangement where the
employment relationship is voluntary and based on mutual consent.  You may leave your employment at any time,
and bebe stores, inc.  reserves the
right to terminate your employment at any time, with or without cause and with
or without notice.  Nothing said to you
or promised to you by anyone other than a specific, written agreement signed by
the Chief Executive Officer of the company will change this at-will
arrangement.  To further clarify the
understanding, both parties agree that, again in the absence of such specific
writing signed by the company’s CEO, the relationship may be terminated by
either party even as soon as the day the relationship or employment begins,
without any further obligation or liability.

 

6.               Company Policies:

 

As an employee of
bebe stores, inc.,  you will be
subject to and required to adhere to all of the company’s policies and
procedures pertaining to its employees. 
This includes all policies relating to standards of conduct, conflicts
of interest, and compliance with the company’s rules and regulations.

 

7.               Arbitration Agreement:

 

You agree that if
any disputes should arise between you and bebe stores, inc. (including claims
against its employees, officers, directors, shareholders, agents, successors
and assigns) relating or pertaining to or arising out of your employment with
bebe, the dispute will be submitted exclusively to binding arbitration before a
neutral arbitrator.  This means that
disputes will be decided by an arbitrator rather than a court or jury, and that
both you and bebe stores, inc.  waive our
rights to a court or jury trial.  You
understand that the arbitrator’s decision will be final and exclusive, and
cannot be appealed.

 

You agree that all
disputes between you and bebe stores, inc.  are covered by
this Arbitration Agreement to the fullest extent permitted by law.  This includes claims for wrongful discharge,
discrimination, harassment, and any injury to your physical, mental, or
economic interests.  Also, you agree that
all disputes are covered by this Arbitration Agreement whether based on claimed
violations of statutory, contractual, or common law rights.

 

Disputes between
you and bebe stores, inc.  that  are not covered by this Agreement include claims for
unemployment insurance or workers’ compensation, and claims under the National
Labor Relations Act or those heard exclusively by the Labor Commissioner.  This Agreement does not interfere with either
party’s right to pursue a provisional remedy in court pursuant to California
Code of Civil Procedure, section 1281.8.

 

2

 

The arbitration
shall be conducted in accordance with the rules set forth in the Code of
Civil Procedure, section 1280 and following (and any successor statute).  The parties may engage in discovery pursuant
to C.C.P. 1283.05.  They have the right
to be represented by an attorney or representative of their choosing.  The arbitrator’s decision will be rendered in
writing, and shall provide the legal and factual basis for the decision.  This agreement to arbitrate survives the
termination of your employment with bebe. 
The arbitrator shall have the authority to award all remedies that would
otherwise be available under applicable law in court, but no more than that,
with respect to the claims in question. 
In addition, bebe agrees to pay the arbitrator’s fees and expenses, as
well as the cost, if any, of the room where the arbitration hearing is
conducted.  However, each party shall pay
their own attorneys’ fees, except the arbitrator shall have the authority to
award reasonable attorneys’ fees and costs to the prevailing party where
allowed by statute.

 

Other terms of
this Arbitration Agreement are in the Arbitration Manual. These terms are
incorporated into this Agreement by reference as if they were fully repeated
here. bebe stores, inc. will give you a copy of these terms upon your request.

 

8.               Work Eligibility Documents:

 

As a condition of
your employment with bebe stores, inc., you will be required to provide
evidence of your identity and eligibility for employment in the United
States.  It is required that you bring
the appropriate documentation with you at the time of employment.  The required documentation is enclosed with
this letter.

 

9.               Severance:

 

If
there is a change in a majority ownership and Manny Mashouf, Chairman and CEO
is no longer employed or affiliated with bebe Stores, Inc. and
subsequently your employment is terminated as a result, all occurring within
the first twelve (12) months of your employment, you will be entitled to receive, as your sole
compensation, consideration and benefit, base salary continuation (payable on
the company’s normal pay schedule) for a period of 12 months from the date you
were no longer employed with the company, at a rate equal to your starting first
year’s base salary. Eligibility for receipt
of this severance package would be contingent on your execution of a release of
all claims and the acceptance of a non-compete agreement in favor of the
employer.

 

You acknowledge the
company has advised you to consult with an attorney prior to signing this
document and that you have been given sufficient opportunity to do so.  Your signature below acknowledges either that
you have engaged such consultation prior to signature, or have voluntarily and
knowingly elected to forgo such opportunity with no undue influence or coercion
involved.  This offer letter supersedes
any prior discussions, agreements, understandings, offers or statements made to
you during the interview process.  This
offer letter and the Arbitration Manual represent the entire agreement
regarding your position with bebe.  If
you are in agreement with the provisions of this employment offer, please sign,
date, and return the original of this letter to the Human Resources Department,
acknowledging your understanding and acceptance; retain a copy for your
records.

 

We are excited about you
joining the team at bebe stores, inc., and I look forward to working with you.

 

Very truly yours,

 

 

Manny
Mashouf

Chairman & CEO

 

cc:    Patricia Quartini, Human Resources

 

ACKNOWLEDGEMENT AND ACCEPTANCE

 

My signature below
acknowledges my understanding and acceptance of bebe stores, inc.

offer of employment
subject to the terms and conditions set forth in this letter.

 

	
  Tara Poseley:

  	
  /s/ Tara Poseley

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:

  	
  4/9/09

  	
   

  

 

3

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