Document:

Unassociated Document

EXHIBIT 10.60

 

ADIT RESOURCES CORP.

STOCK BONUS PLAN

 

l.           Purpose.  The purpose of this Stock Bonus Plan is to advance the interests of Adit Resources Corp. (the "Company") and its shareholders, by encouraging and enabling selected officers, directors, consultants and key employees upon whose judgment, initiative and effort the Company is largely dependent for the successful conduct of its business, to acquire and retain a proprietary interest in the Company by ownership of its stock, to keep personnel of experience and ability in the employ of the Company and to compensate them for their contributions to the growth and profits of the Company and thereby induce them to continue to make such contributions in the future.

2.          Definitions.

A.          "Board" shall mean the board of directors of the Company.

B.          "Committee" means the directors duly appointed to administer the Plan.

C.          "Plan" shall mean this Stock Bonus Plan.

D.          "Bonus Share" shall mean the shares of common stock of the Company reserved pursuant to Section 4 hereof and any such shares issued to a Recipient pursuant to this Plan.

E.          "Recipient" shall mean any individual rendering services for the Company to whom shares are granted pursuant to this Plan.

3.          Administration of Plan.  The Plan shall be administered by a committee of two or more directors appointed by the Board (the "Committee").  The Committee shall report all action taken by it to the Board.  The Committee shall have full and final authority in its discretion, subject to the provisions of the Plan, to determine the individuals to whom and the time or times at which Bonus Shares shall be granted and the number of Bonus Shares; to construe and interpret the Plan; and to make all other determinations and take all other actions deemed necessary or advisable for the proper administration of the Plan.  All such actions and determinations shall be conclusively binding for all purposes and upon all persons.

4.          Bonus Share Reserve.  There shall be established a Bonus Share Reserve to which shall be credited 1,000,000 shares of the Company's common stock.  In the event that the shares of common stock of the Company should, as a result of a stock split or stock dividend or combination of shares or any other change, or exchange for other securities by reclassification, reorganization, merger, consolidation, recapitalization or otherwise, be increased or decreased or changed into or exchanged for, a different number or kind of shares of stock or other securities of the Company or of another corporation, the number of shares then remaining in the Bonus Share Reserve shall be appropriately adjusted to reflect such action.  Upon the grant of shares hereunder, this reserve shall be reduced by the number of shares so granted.  Distributions of Bonus Shares may, as the Committee shall in its sole discretion determine, be made from authorized but unissued shares or from treasury shares.  All authorized and unissued shares issued as Bonus Shares in accordance with the Plan shall be fully paid and non-assessable and free from preemptive rights.

 

  

  

  

 

5.          Eligibility, and Granting and Vesting of Bonus Shares.  Bonus Shares may be granted under the Plan to the Company's (or the Company’s subsidiaries) employees, directors and officers, and consultants or advisors to the Company (or its subsidiaries), provided however that bona fide services shall be rendered by such consultants or advisors and such services must not be in connection with the offer or sale of securities in a capital-raising transaction.

The Committee, in its sole discretion, is empowered to grant to an eligible Participant a number of Bonus Shares as it shall determine from time to time.  Each grant of these Bonus Shares shall become vested according to a schedule to be established by the Committee directors at the time of the grant.  For purposes of this plan, vesting shall mean the period during which the recipient must remain an employee or provide services for the Company.  At such time as the employment of the Recipient ceases, any shares not fully vested shall be forfeited by the Recipient and shall be returned to the Bonus Share Reserve.  The Committee, in its sole discretion, may also impose restrictions on the future transferability of the bonus shares, which restrictions shall be set forth on the notification to the Recipient of the grant.

The aggregate number of Bonus Shares which may be granted pursuant to this Plan shall not exceed the amount available therefore in the Bonus Share Reserve.

6.          Form of Grants.  Each grant shall specify the number of Bonus Shares subject thereto, subject to the provisions of Section 5 hereof.

At the time of making any grant, the Committee shall advise the Recipient by delivery of written notice, in the form of Exhibit A hereto annexed.

7.          Recipients' Representations.

A.          The Committee may require that, in acquiring any Bonus Shares, the Recipient agree with, and represent to, the Company that the Recipient is acquiring such Bonus Shares for the purpose of investment and with no present intention to transfer, sell or otherwise dispose of shares except such distribution by a legal representative as shall be required by will or the laws of any jurisdiction in winding-up the estate of any Recipient.  Such shares shall be transferable thereafter only if the proposed transfer shall be permissible pursuant to the Plan and if, in the opinion of counsel (who shall be satisfactory to the Committee), such transfer shall at such time be in compliance with applicable securities laws.

B.          To effectuate Paragraph A above, the Recipient shall deliver to the Committee, in duplicate, an agreement in writing, signed by the Recipient, in form and substance as set forth in Exhibit B hereto annexed, and the Committee shall forthwith acknowledge its receipt thereof.

 

  

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8.          Restrictions Upon Issuance.          

                                                                                             

 A.           Bonus Shares shall forthwith after the making of any representations required by Section 6 hereof, or if no representations are required then within thirty (30) days of the date of grant, be duly issued and transferred and a certificate or certificates for such shares shall be issued in the Recipient's name.  The Recipient shall thereupon be a shareholder with respect to all the shares represented by such certificate or certificates, shall have all the rights of a shareholder with respect to all such shares, including the right to vote such shares and to receive all dividends and other distributions (subject to the provisions of Section 7(B) hereof) paid with respect to such shares.  Certificates of stock representing Bonus Shares shall be imprinted with a legend to the effect that the shares represented thereby are subject to the provisions of this Agreement, and to the vesting and transfer limitations established by the Committee, and each transfer agent for the common stock shall be instructed to like effect with respect of such shares.

B.          In the event that, as the result of a stock split or stock dividend or combination of shares or any other change, or exchange for other securities, by reclassification, reorganization, merger, consolidation, recapitalization or otherwise, the Recipient shall, as owner of the Bonus Shares subject to restrictions hereunder, be entitled to new or additional or different shares of stock or securities, the certificate or certificates for, or other evidences of, such new or additional or different shares or securities, together with a stock power or other instrument of transfer appropriately endorsed, shall also be imprinted with a legend as provided in Section 7(A), and all provisions of the Plan relating to restrictions herein set forth shall thereupon be applicable to such new or additional or different shares or securities to the extent applicable to the shares with respect to which they were distributed.

C.          The grant of any Bonus Shares shall be subject to the condition that if at any time the Company shall determine in its discretion that the satisfaction of withholding tax or other withholding liabilities, or that the listing, registration, or qualification of any Bonus Shares upon such exercise upon any securities exchange or under any state or federal law, or that the consent or approval of any regulatory body, is necessary or desirable as a condition of, or in connection with, the issuance of any Bonus Shares, then in any such event, such exercise shall not be effective unless such withholding, listing, registration, qualification, consent, or approval shall have been effected or obtained free of any conditions not acceptable to the Company.

D.          Unless the Bonus Shares covered by the Plan have been registered with the Securities and Exchange Commission pursuant to Section 5 of the Securities Act of l933, each Recipient shall, by accepting a Bonus Share, represent and agree, for himself and his transferees by will or the laws of descent and distribution, that all Bonus Shares were acquired for investment and not for resale or distribution.  The person entitled to receive Bonus Shares shall, upon request of the Committee, furnish evidence satisfactory to the Committee (including a written and signed representation) to the effect that the shares of stock are being acquired in good faith for investment and not for resale or distribution.  Furthermore, the Committee may, if it deems appropriate, affix a legend to certificates representing Bonus Shares indicating that such Bonus Shares have not been registered with the Securities and Exchange Commission and may so notify the Company's transfer agent.  Such shares may be disposed of by a Recipient in the following manner only: (l) pursuant to an effective registration statement covering such resale or reoffer, (2) pursuant to an applicable exemption from registration as indicated in a written opinion of counsel acceptable to the Company, or (3) in a transaction that meets all the requirements of Rule l44 of the Securities and Exchange Commission.  If Bonus Shares covered by the Plan have been registered with the Securities and Exchange Commission, no such restrictions on resale shall apply, except in the case of Recipients who are directors, officers, or principal shareholders of the Company.  Such persons may dispose of shares only by one of the three aforesaid methods.

 

  

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9.          Limitations.  Neither the action of the Company in establishing the Plan, nor any action taken by it nor by the Committee under the Plan, nor any provision of the Plan, shall be construed as giving to any person the right to be retained in the employ of the Company.

Every right of action by any person receiving shares of common stock pursuant to this Plan against any past, present or future member of the Board, or any officer or employee of the Company arising out of or in connection with this Plan shall, irrespective of the place where action may be brought and irrespective of the place of residence of any such director, officer or employee cease and be barred by the expiration of one year from the date of the act or omission in respect of which such right of action arises.

10.          Amendment, Suspension or Termination of the Plan.  The Board of Directors may alter, suspend, or discontinue the Plan at any time.

Unless the Plan shall theretofore have been terminated by the Board, the Plan shall terminate ten years after the effective date of the Plan.  No Bonus Share may be granted during any suspension or after the termination of the Plan.  No amendment, suspension, or termination of the Plan shall, without a recipient's consent, alter or impair any of the rights or obligations under any Bonus Share theretofore granted to such recipient under the Plan.

11.          Governing Law.  The Plan shall be governed by the laws of the State of Nevada.

12.          Expenses of Administration.  All costs and expenses incurred in the operation and administration of this Plan shall be borne by the Company.

  

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- EXHIBIT A -

ADIT RESOURCES CORP.

STOCK BONUS PLAN

 

TO:  Recipient:

 

PLEASE BE ADVISED that Adit Resources Corp. has on the date hereof granted to the Recipient the number of Bonus Shares as set forth under and pursuant to the Stock Bonus Plan.  Before these shares are to be issued, the Recipient must deliver to the Committee that administers the Stock Bonus Plan an agreement in duplicate, in the form as Exhibit B hereto.  The Bonus Shares are issued subject to the following vesting and transfer limitations.

 

	
Vesting:

	  	  
	  	  	  
	
Number of Shares

	  	
Date of Vesting

	  	  	  
	  	  	  
	  	  	  
	
Transfer Limitations:

	  	  
	  	  	  

	 	 	 	
ADIT RESOURCES CORP.

	 
	 	 	 	 	 	 
	
 

	 	 	
By: 

	 	 
	 	 	 	 	 	 
	 	Date	 	 	 	 
	 	 	 	 	 	 

 

 

 

  

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- EXHIBIT B -

Adit Resources Corp.

2162 Acorn Court

Wheaton, IL 60187

 

I represent and agree that said Bonus Shares are being acquired by me for investment and that I have no present intention to transfer, sell or otherwise dispose of such shares, except as permitted pursuant to the Plan and in compliance with applicable securities laws, and agree further that said shares are being acquired by me in accordance with and subject to the terms, provisions and conditions of said Plan, to all of which I hereby expressly assent.  These agreements shall bind and inure to the benefit of my heirs, legal representatives, successors and assigns.

 

 

	
My address of record is:

	 
	 	 
	 	 
	
and my social security number:                              .

	 
	 	Very truly yours,

 

 

 

 

Receipt of the above is hereby acknowledged.

 

	  	  	  	
ADIT RESOURCES CORP.

	  
	  	  	  	  	  	  
	  	  	  	
By:

	  	  
	  	  	  	its	  	  
	 	
 

	  	  	  	  
	Date	  	  	  	  	  

 

 

 

 6Unassociated Document

EXHIBIT 10.61

 

TRANSFER OF MINING RIGHTS CONTRACTS CELEBRATED BY A) COMPAÑÍA MINERA LA ESCUADRA, S. A. DE C. V., REPRESENTED IN THIS ACT BY MR. RAMIRO TREVIZO LEDEZMA IN HIS PERSONALITY AS SOLE ADMINISTRATOR AND LEGAL REPRESENTATIVE (THE GRANTOR), AND B) CORPORACIÓN AMERMIN, S. A. DE C. V., IN HIS PERSONALITY AS GENERAL PROXY (THE GRANTEE), JOINTLY NAMED THE “PARTIES” ACCORDING TO THE FOLLOWING DECLARATIONS AND CLAUSES:

DECLARATIONS

	
I.

	
The GRANTOR, through the offices of its legal representative and under oath of stating the truth, declares that:

1. It is a Mexican mercantile society, specifically a Stock Company withVarying Amount of Capital, duly established and operating in accordance withthe applicableand current legislation of the United States of Mexico, in obedience with the prescriptions of articles 10 and 11 of the Mining Law as is witnessed in Public Writ number 5,979, granted on the 23rd January 1985 before testimony of Mr. José Antonio de Lascuráin y Osío, Attorney and Notary Public number 21 of the Morelos Judicial District for the State of Chihuahua, instrument that was duly inscribed in the Public Registry of Commerce of said district under electronic mercantile folio number 7409*10 and reason by which it is endowed with the necessary and sufficient personality to intervene in this present judicial act;

2. It enjoys the faculties, powers and the sufficient and necessary mandates to subscribe this present contract as testimony of it is given in Public Writ number 18,155, granted on the 28th February 2007 before testimony of Mr. Eugenio Fernando García Russek, applicant to the exercise of Notary Public and ascribed to Public Notary number 28 per license of the Offices Title Holder, Mr. Felipe Colomo Castro, Attorney, and instrument that was duly inscribed in the Public Registry of Commerce of said judicial district under mercantile electronic folio number 7409*10 and by virtue of such the resolutions adopted within the bosom of the Shareholders Ordinary General Assembly were protocolized celebrated on the 12th January 2007, and same that have not been limited, restrained, suspended or revoked to date and in consequence he enjoys with the capacity and representation to subscribe this agreement;

3. It is duly inscribed in the Federal Taxpayers Registry with taxpayer certificate number MES-841123-M11and being current to date in itsincome tax payments and other contributions that have corresponded to it according to the applicable and current legislation;

4. To be the title holder of 100% (one hundred per cent) of the mining rights derived from the concessions granted on 3 (three) mining lots described in detail following and same that have been integrated in the mining project named “Picacho” (the CONCESSIONS)

 

	
Transfer of Mining Rights Contract subscribed between Compañía Minera La Escuadra, S. A. de C.

V., on one hand and Corporación Amermin, S. A. de C. V. on the other on the 21st. August 2009

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Title

	
Lot

	
Surface

	
Location

	
230.553

	
Picacho Frac. I

	
3,813.2627 hectares

	
Bacoachi, Sonora

Arizpe, Sonora

	
230,554

	
Picacho Fracc. II

	
3.8639 hectares

	
Bacoachi, Sonora

Arizpe, Sonora

	
230,555

	
Picacho Fracc. III

	
6.3448 hectares

	
Bacoachi, Sonora

Arizpe, Sonora

.

5. To date the rights and other contributions that have corresponded in order to maintain the CONCESSIONS current and in good condition have been duly paid, and furthermore, the remaining obligations required by the Mining Law and its Ruling, among other applicable and legal dispositions that are imposed upon title holders of such administrative authorizations have also been complied with;

6. The CONCESSIONS are free on any burden, attachment or limitation of ownership of any kind and that is why it is legally possible to make use of same as agreed upon, be partially or in whole;

7. The dispositions of the rights derived from the CONCESSIONS under the terms of this present instrument does not imply non compliance in any way whatsoever to any commitment acquired previously on the part of the company;

8. The Administration Board of the company has authorized the celebration of this present contract inasmuch as it is in line with the finality and social object of said stock company, and;

9. It is the will of its Administration Board to subscribe this present agreement with the purpose of transferring in favor of the GRANTEE the title holding of the mining rights derived from the CONCESSIONS heeding in every instance to the terms and conditions of this instrument.

	
II.

	
The GRANTEE ̧ through the offices of its legal representative and under oath of stating the truth, declares, that:

1. It is a Mexican mercantile society, specifically a Stock Company withVarying Amount of Capital, duly established and operating in accordance withthe applicableand current legislation of the United States of Mexico, in obedience with the prescriptions of articles 10 and 11 of the Mining Law as is witnessed in Public Writ number 9,311, granted on the 9th August 1995 before testimony of Mr. José R. Miller Hermosillo, Attorney and Notary Public number 2 of the Morelos Judicial District for the State of Chihuahua, instrument that was duly inscribed in the Public Registry of Property and Commerce of said judicial district under electronic mercantile folio number 21164*10 and reason by which it is endowed with the necessary and sufficient personality to intervene in this present judicial act;

 

	
Transfer of Mining Rights Contract subscribed between Compañía Minera La Escuadra, S. A. de C.

V., on one hand and Corporación Amermin, S. A. de C. V. on the other on the 21st. August 2009

2

  

 

2. His representative enjoys the faculties, powers and the sufficient and necessary mandates to subscribe this present contract as testimony of it is given in Public Writ number 22,503, granted on the 12th June 2008 before testimony of Mrs. Elsa Ordóñez Ordóñez, applicant to the exercise of Notary Public and ascribed to Public Notary number 28 per license of the Offices Title Holder, Mr. Felipe Colomo Castro, Attorney, and instrument that was duly inscribed in the Public Registry of Commerce of said judicial district under mercantile electronic folio number 21164*10 and same that have not been limited, restrained, suspended or revoked;

3. To be duly inscribed in the Federal Taxpayers Registry with Fiscal Identification Certificate CAM-950810-K77, being to date current in their income tax payments and other contributions that have corresponded in agreement with the applicable and current fiscal legislation;

4. It is the will of its Administration Board to subscribe this present agreement with the purpose of being transferred the totality of the rights derived from the CONCESSIONS heeding in every instance to the terms and conditions of this instrument

	
III.

	
Both PARTIES declare per the offices of their respective legal representatives and under oath of stating the truth, that they acknowledge the personality each other bears, in addition to concur to the subscription of this present document in good faith, free of deceit, error, violence or any other vitiation in their consent, with the purpose of committing themselves to the following:

	
CLAUSES

FIRST. OBJECT: In accordance with article 2,029, as with article 2,248 of the Federal Civil Code of complementary application agreeing with article 23, last paragraph of the Mining Law, as well as with article 2 of the Code of Commerce, by virtue of the subscription of this contract the GRANTOR transfer onerously and definitely in favor of the GRANTEE, free of all burden, attachment or limitation in ownership of any kind, 100% (one hundred per cent) of the mining rights derived from the CONCESSIONS receiving in exchange as counterclaim the certain and determined price described in the following clause.

SECOND. PRICE: As a counterclaim per the described transfer, the GRANTEE obliges itself to pay in favor of the GRANTOR the amount of $2,661,154.00 M. N. (Two million  six hundred and sixty one thousand and one hundred and fifty four Mexican Pesos 00/100), plus the corresponding Added Value tax, that is, an amount of $399,173.00 M. N. (Three hundred and ninety nine thousand and one hundred and seventy three Mexican Pesos), for a total amount to be paid of $3’060,327.00 Mexican Pesos (Three million sixty thousand and three hundred and twenty seven Mexican Pesos) (the PRICE), heeding in every instance to the terms and conditions agreed upon in this instrument.

 

	
Transfer of Mining Rights Contract subscribed between Compañía Minera La Escuadra, S. A. de C.

V., on one hand and Corporación Amermin, S. A. de C. V. on the other on the 21st. August 2009

3

  

 

THIRD. MANNER, TIME AND PLACE OF PAYMENT: The GRANTEE delivers in favor of the GRANTOR in this same act, the totality of the PRICE, reason why this instrument takes the place of the receipt of payment that is allowed by law regarding such mercantile operation.

FOURTH. REPARATION IN CASE OF EVICTION: The GRANTOR commits itself to answer before the GRANTEE for any reparation in case of eviction from the CONCESSIONS.

FIFTH: ADMINISTRATIVE OBLIGATIONS: The GRANTEE expressly commits himself to maintain the CONCESSIONS current by complying to such an effect with the paper work and the payment of the corresponding rights in accordance to the general dispositions and Mexican official standards of the metallurgical and mining industries agreeing with article 27 of the Mining Law, among others applicable, its Ruling and other current legislation.

SIXTH: TRANSFER OF RIGHTS FORMALIZATION: PARTIES commit themselves to ratify before Public Notary or Public broker this present document as soon as possible with the purpose that same be inscribed for publicity and apposition purposes before third parties before the Public Registry of Mines, a dependency of the Secretary of the Economy under the terms of the Mining Law, its Ruling and other applicable and current legislations.

SEVENTH: EXPENSES: The totality of expenses, fees, rights and other disbursements that must be specifically paid for the subscription and ratification of this present contract as well as for the paper work for inscription in the Public Registry of Mines will be covered by the GRANTEE.

EIGHTH: Against payment of the PRICE, the GRANTOR commits himself to issue and deliver as soon as possible a voucher valid for all purpose of fiscal matters as imposed by the applicable and current fiscal legislations.

NINTH: CONFIDENTIALITY: PARTIES expressly commit themselves to keep in a confidential manner the totality of past, present and future information related with this instrument, and extending same obligation when disclosed to any private person or corporation.

The PARTY recipient of confidential information must limit access to it to its representatives or employees who, under a justified and reasonable cause, should request access to such and information. In such cases, PARTIES must extend same confidentiality obligation to the persons confidential information is disclosed to.

For purposes of this present clause, the following will not be considered confidential information: 1. Information legitimately known and obtained by the recipient PARTY prior to the subscription of this agreement; 2. Information that is to date or in the future considered as public domain, if and ever such consideration did not derive from a non compliance by any of the PARTIES to the stipulation of this clause, or; 3. Information that must be disclosed to per law or an administrative or judicial mandate from competent authorities, including those of the Stock Exchange.

 

	
Transfer of Mining Rights Contract subscribed between Compañía Minera La Escuadra, S. A. de C.

V., on one hand and Corporación Amermin, S. A. de C. V. on the other on the 21st. August 2009

4

  

 

TENTH: FISCAL OBLIGATION: FISCAL OBLIGATIONS: On being duly registered and regularized before the Federal Taxpayers Registry, as well as current in their income tax payments and other contributions that have corresponded to them, PARTIES agree that each will defray in separate tax payments that correspond to each individually complying thus to the terms and conditions of this present instrument and complying to the applicable and current fiscal legislation, and committing themselves to free their counterpart from any fiscal responsibility that might be imputed contrary to this clause by competent authorities.

ELEVENTH: TWENTY SEVEN ADDRESSES AND CONTACT TELEPHONES: PARTIES agree that for anything referring to the execution and compliance of the terms and conditions of this present instrument, as well as to carry out announcements, notifications and other communications in relation to same, they state their addresses and contact telephones to be the following:

	
GRANTOR

Calle California 5101, Despacho 206

Colonia Haciendas de Santa Fe

Ciudad de Chihuahua

Estado de Chihuahua

 

Telephone: 614-200-8483

	
GRANTEE

Calle California 5101, Despacho 206

Colonia Haciendas de Santa Fe

Ciudad de Chihuahua

Estado de Chihuahua

 

Telephone: 614-200-8483

In case of change of address PARTIES agree in notifying their counterpart of such a circumstance at least 5 (five) natural days in advance of the date in which the change of address effectively takes place.

TWELFTH: ANNOUNCEMENTS, NOTIFICATIONS AND COMMUNICATIONS: PARTIES agree that any announcement, notification or communication necessary to their counterparts know must be done in writing.

Sending of said documents can be carried out via three means: 1. By ordinary courier delivered on hand or by certificate mail, both with acknowledgement of receipt; 2. Via Fax or; 3. By electronic mail. In this last case, sending will only be considered valid and legally carried out when the reception of the respective electronic mail is confirmed electronically within three (3) natural days following the sending expressly stating receipt, by means of a confirming answering message sent by the recipient.

PARTIES agree likewise that announcements, notifications and communications carried out in relation to this present instrument will bear their respective effects on the day of their reception. In case that such message include some kind of term, this latter will begin to be in effect on the day following confirmation of reception.

 

	
Transfer of Mining Rights Contract subscribed between Compañía Minera La Escuadra, S. A. de C.

V., on one hand and Corporación Amermin, S. A. de C. V. on the other on the 21st. August 2009

5

  

 

THIRTEENTH: CONTACT PERSONS: PARTIES agree that the totality of announcements, notifications or communications necessary to be carried out between them derived from the terms and conditions of this present instrument must be addressed indistinctly to the following persons:

	
GRANTOR

 

RAMIRO TREVIZO LEDEZMA

	
GRANTEE

 

RAMIROT TREVIZO GONZÁLEZ

In case it is their will to change contact persons, PARTIES agree in notifying their counterparts of such a circumstance at least five (5) natural days in advance of the date in which the persons are changed. Not complying to the obligation herein described will imply that that the announcements, notifications or communications sent and delivered to the name of the original addressees of the PARTY carrying the change of address, will bear full legal effects in favor of the PARTY that was not notified in all opportunity as of the date of delivery and for as long as the non compliance subsists.

FOURTEENTH: TOTALITY OF THE AGREEMENT:  PARTIES agree and accept expressly that this present contract, including its respective annexes, contains the totality of the agreements between them regarding its object and leaving without effect and canceling as well the totality of agreements, reports, negotiations, correspondence, commitments and communications carried out previously between them either in writing or verbally.

FIFTEENTH: APPLICABLE LAW: This present instrument will abide and will be interpreted in agreement with the Mining Law, its Rulings and the Federal Civil Code among other applicable and current dispositions in the United States of Mexico.

SIXTEENTH: JURISDICTION AND COMPETENCE: In the event that there arise any controversies related with the validity, intention, interpretation, execution or compliance to this contract, PARTIES expressly agree to submit same before the competent courts of law of the Morelos Judicial District, State of Chihuahua, and renouncing as of this moment to any other jurisdiction, competence or privilege that might correspond to them by reason of their present or future domiciles or by any other circumstance.

BOTH PARTIES BEING IN THE KNOWLEDGE OF THE FORCE AND LEGAL REACH OF THIS PRESENT CONTRACT SUBSCRIBE IT BEING TOGETHER IN THE CITY OF CHIHUAHUA, STATE OF CHIHUAHUA ON THE 21ST AUGUST 2009.

 

	
Transfer of Mining Rights Contract subscribed between Compañía Minera La Escuadra, S. A. de C.

V., on one hand and Corporación Amermin, S. A. de C. V. on the other on the 21st. August 2009

6

  

 

	
GRANTOR

 

Signature

COMPAÑÍA MINERA

LA ESCUADRA, S.A. DE C.V.

REPRESENTED IN THIS ACT BY:

RAMIRO TREVIZO LEDEZMA

	
GRANTEE

 

Signature

CORPORACIÓN AMERMIN,

S. A. DE C. V.

REPRESENTED IN THIS ACT BY:

RAMIRO TREVIZO GONZÁLEZ

###

 

	
Transfer of Mining Rights Contract subscribed between Compañía Minera La Escuadra, S. A. de C.

V., on one hand and Corporación Amermin, S. A. de C. V. on the other on the 21st. August 2009

7

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