Document:

Employment Agreement - William R. Moler

 Exhibit 10.7 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this “Agreement”) is made and entered
into as of October 1, 2007, between Inergy GP, LLC, a Delaware limited liability company (the “Company”), and William R. Moler, an individual (“Employee”). 
 The Company and Employee hereby agree as follows: 
 1. Employment. Employee is currently employed by the Company as the Company’s Senior Vice President – Natural Gas Midstream Operations upon and subject to the terms and conditions of this Agreement. Employee will begin his
employment with the Company under this Agreement on October 1, 2007. 
 2. Duties. During the term of his employment under this
Agreement, Employee will perform his duties hereunder at such time or times as the Company may reasonably request. Employee’s duties may be varied by the Company from time to time without violating the terms of this Agreement and will include:
(i) devoting his entire business time and efforts to further properly the interests of the Company to the satisfaction of the Company, (ii) being subject to the Company’s direction and control at all times with respect to his
activities on behalf of the Company, (iii) complying with all rules, orders, regulations, policies, practices and decisions of the Company, (iv) truthfully and accurately maintaining and preserving all records and making all reports as the
Company may require, and (v) fully accounting for all monies and other property of the Company of which he may from time to time have custody and delivering the same to the Company whenever and however directed to do so. 
 3. Compensation. For all services rendered by Employee to the Company during the term of this Agreement, the Company will pay Employee a salary at
the annual rate of $200,000, which shall be subject to review from time to time in the Company’s discretion (the “Salary”), payable in arrears in accordance with the Company’s general payroll practices. All payments and
benefits provided pursuant to this Agreement are subject to income tax withholding and other applicable tax and withholding requirements. 
 4. Expenses. The Company will reimburse Employee for all ordinary and necessary out-of-pocket expenses incurred and paid by Employee in the course of the performance of Employee’s duties pursuant to this Agreement and consistent
with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, and subject to the Company’s requirements with respect to the manner of approval and reporting of such expenses.

 5. Additional Benefits and Compensation. 
 (a) Employee will be eligible for such fringe benefits, if any, by way of insurance, hospitalization and vacations normally provided to
employees of the Company generally and such additional benefits as may be from time to time agreed upon in writing between Employee and the Company. 

 (b) Commencing with the fiscal year ending September 30, 2008 and continuing for
each fiscal year thereafter during the term of this Agreement, the Company will pay Employee a performance bonus based on factors, goals or other subjective and objective criteria to be determined by the Company. The availability and amount of such
bonus will be determined in the sole discretion of the Company. If Employee achieves the desired performance criteria, the amount of this bonus would be up to $200,000, but could be increased above such amount if approved under the objective
criteria established by the Company. If earned, this performance bonus would be paid within 90 days after the end of the relevant fiscal year. Notwithstanding the foregoing, in order to receive a bonus pursuant to this Section 5(b),
Employee must have been continuously employed by the Company from the date set forth in Section 1 until the end of the relevant fiscal year. 
 6. Covenant Not to Disclose Confidential Information. Employee acknowledges that during the course of his employment with the Company Employee has had and will continue to have access to and knowledge of
certain information and data that the Company or any subsidiary, parent or affiliate of the Company considers confidential and that the release of such information or data to any unauthorized person or entity would be extremely detrimental to the
Company. As a consequence, Employee hereby agrees and acknowledges that he owes a duty to the Company not to disclose, and agrees that, during and after the term of his employment, without the prior written consent of the Company, he will not
communicate, publish or disclose, to any person or entity anywhere or use (for his own benefit or the benefit of others) any Confidential Information (as defined below) for any purpose other than carrying out his duties as contemplated by this
Agreement. Employee will use his best efforts at all times to hold in confidence and to safeguard any Confidential Information to ensure that any unauthorized persons and entities do not gain possession of any Confidential Information and, in
particular, will not permit any Confidential Information to be read, duplicated or copied. Employee will return to the Company all originals and copies of documents and other materials, whether in printed or electronic format or otherwise,
containing or derived from Confidential Information in Employee’s possession or under Employee’s control when the duties of Employee no longer require Employee’s possession thereof, or whenever the Company requests, and in any event
will return all such Confidential Information within ten days if the employment relationship with the Company is terminated for any or no reason and will not retain any copies thereof. Employee acknowledges that Employee is obligated to protect the
Confidential Information from disclosure or use even after termination of the employment relationship. The term “Confidential Information” means any information or data used by or belonging or relating to the Company or any
subsidiary, parent or affiliate of the Company, or any party to whom the Company owes a duty of confidentiality that is not known generally to the industry in which the Company or any subsidiary, parent or affiliate of the Company, or any party to
whom the Company owes a duty of confidentiality is or may be engaged, including all trade secrets, proprietary data and information relating to the Company’s or any subsidiary, parent or affiliate of the Company’s, or any party to whom the
Company owes a duty of confidentiality past, present or future business and products, price lists, customer lists, acquisition candidates and criteria relating to potential acquisition candidates, processes, procedures or standards, know-how,
manuals, hardware, software, source code, business strategies, records, marketing plans, drawings, technical information, specifications, designs, patent information, financial information, whether or not reduced to writing, or information or data
that the Company or any subsidiary, parent or affiliate of the Company or any party to whom the Company owes a duty of confidentiality advises Employee should be treated as confidential information. Confidential Information does not include any

  

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information that: (i) is rightfully known to Employee prior to Employee’s employment, and independent of any disclosure or access to the
information via the Company as evidenced by Employee’s written records; or (ii) is or later becomes part of the public domain and known within the relevant industry through no fault of Employee. 
 7. Disclosure and Assignment of Intellectual Property. 
 (a) Employee agrees that the Company will become the owner of all inventions, discoveries, developments, ideas, writings, and expressions,
including all concepts, improvements, techniques, know-how, innovations, systems, processes, machines, current or proposed products, works, information, reports, papers, logos, computer programs, designs, marketing materials, and methods of
manufacture, distribution, management or other methods (whether or not reduced to writing and whether or not patentable or protectable by copyright), that Employee conceives, develops, creates, makes, perfects or reduces to practice in whole or in
part while employed by the Company or within one year after termination of Employee’s employment for any or no reason, and that: (i) directly or indirectly relate to or arise out of Employee’s job responsibilities for the Company or
the performance of the duties of Employee’s employment by the Company; (ii) result from research, development, or other activities of the Company; or (iii) relate or pertain in any way to the existing or reasonably anticipated
business, products or services of the Company or any subsidiary, parent or affiliate of the Company (collectively, the “Intellectual Property”). All of the right, title and interest in and to the Intellectual Property will become
exclusively owned by the Company or its nominee regardless of whether or not the conception, development, creation, making, perfection or reduction to practice of such Intellectual Property involved the use of the Company’s time, facilities or
materials and regardless of where such Intellectual Property may be conceived, made or perfected. 
 (b) Employee will
promptly and fully disclose in writing to the Company all inventions, discoveries, developments, ideas, writings, and expressions conceived, developed, created, made, perfected or reduced to practice, in whole or in part, while employed by the
Company or within one year after termination of Employee’s employment for any or no reason, regardless of whether Employee believes the invention, discovery, development, writing, expression or idea should be considered Intellectual Property of
the Company under any provision of this Agreement, in order to enable the Company to make a determination as to its rights with respect to the same. 
 (c) All information relating to Intellectual Property will be considered Confidential Information and may not be disclosed by Employee to any person or entity outside of the Company. 
 (d) Any Intellectual Property that is the subject of copyright will be considered a “work made for hire” within the meaning of
the Copyright Act of 1976, as amended, and is the sole property of the Company or its nominee. To the extent that the Company does not automatically own any such Intellectual Property as a work made for hire, Employee will assign all right, title
and interest in and to such Intellectual Property to the Company. All right, title and interest in and to any other Intellectual 

  

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Property, including patent, industrial design, trademark, trade dress and trade secret rights will be assigned and is hereby assigned exclusively to the
Company or its nominee. Employee will also execute and deliver all documents and do all acts that the Company considers necessary or desirable to secure to the Company or its nominee the entire right, title and interest in and to the Intellectual
Property, including executing applications for any United States or foreign patents or copyright registrations, disclosing relevant prior art, reviewing office actions and providing technical input to assist the Company in overcoming any rejections.
Any document prepared and filed pursuant to this Section 7(d) will be prepared and filed at the Company’s expense. Employee will also cooperate with the Company as reasonably necessary to maintain or enforce the Company’s
rights in the Intellectual Property. Employee hereby irrevocably appoints the President of the Company as Employee’s attorney-in-fact with authority to execute for Employee and on Employee’s behalf all assignments, patent or copyright
applications, or other instruments and documents required to be executed by Employee pursuant to this Section 7(d), if Employee is unwilling or unable to execute same. 
 (e) The Company will have no obligation to use, attempt to protect by patent or copyright, or promote any of the Intellectual Property;
provided, however, that the Company, in its sole discretion, may reward Employee for any especially meritorious contributions in any manner it deems appropriate or may provide Employee with full or partial releases as to any subject matter
contributed by Employee in which the Company is not interested. 
 8. Legal Proceedings to Compel Disclosure. If Employee is requested
pursuant to, or required by, applicable law, regulation, or legal process, to disclose any Confidential Information or Intellectual Property, Employee will notify the Company of such request within five days of such request being made and will
enable the Company or any subsidiary, parent or affiliate of the Company to seek an appropriate protective order. If such a protective order or other protective remedy is not obtained, Employee will furnish only that portion of the Confidential
Information or Intellectual Property that, in the opinion of Employee’s counsel, is legally required and will exercise Employee’s best efforts to obtain reliable assurances that confidential treatment will be accorded the Confidential
Information or Intellectual Property. 
 9. Covenant Not to Compete. Employee acknowledges that during his employment with the Company
he, at the expense of the Company, has been and will continue to be specially trained in the business of the Company, has established and will continue to establish favorable relations with the customers, clients and accounts of the Company or any
subsidiary, parent or affiliate of the Company and has had and will continue to have access to the Intellectual Property, trade secrets and Confidential Information of the Company or any subsidiary, parent or affiliate of the Company. Therefore, in
consideration of such training and relations, and in consideration of his continued employment with the Company, the increase in compensation and additional benefits provided in this Agreement, the issuance of restricted units pursuant to a separate
Restricted Unit Award Agreement dated the date hereof (the “Restricted Unit Agreement”), and to further protect the Intellectual Property, trade secrets and Confidential Information of the Company or any subsidiary, parent or
affiliate of the Company, Employee agrees that during the term of his employment by the Company and for a period of two (2) years from and after your resignation or the voluntary or involuntary termination of such 

  

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employment for any or no reason (including termination of employment by the Company due to the fulfillment of the then-current term of this Agreement
pursuant to Section 12(a)), he will not, directly or indirectly, without the express written consent of the Company, except when and as requested to do in and about the performing of his duties under this Agreement: 
 (a) own, manage, operate, control or participate in the ownership, management, operation or control of, or have any interest, financial or
otherwise, in or act as an officer, director, partner, manager, member, principal, employee, agent, representative, consultant or independent contractor of, or in any way assist, any individual or entity in the conduct of any business that stores or
transports natural gas or natural gas liquids and is located in the “New England States” or is doing business in any state or any contiguous state of any then current natural gas or natural gas liquids storage or transmission location of
the Company or any subsidiary, parent or affiliate of the Company; 
 The “New England States” are defined as Maine, New Hampshire,
Vermont, Massachusetts, Rhode Island or Connecticut. 
 (b) contact any Potential Acquisition Target, or in any way assist any
individual or entity in contacting, evaluating or acquiring a Potential Acquisition Target; 
 The term Potential Acquisition Target shall
mean any business which the Company has made formal offer to purchase, entered into a letter of intent to purchase, participated in a purchase auction, received a request to bid, or targeted for purchase, or received non-public transactional ideas,
financial or operation information while Employee was employed by the Company. 
 (c) divert or attempt to divert clients or
customers (whether or not such persons have done business with the Company or any subsidiary, parent or affiliate of the Company once or more than once) or accounts of the Company or any subsidiary, parent or affiliate of the Company; or 

(d) entice or induce or in any manner influence any person who is or becomes in the employ or service of the Company or any subsidiary,
parent or affiliate of the Company to leave such employ or service for the purpose of engaging in a business that may be in competition with any business now or at any time during the period hereof engaged in by the Company or any subsidiary, parent
or affiliate of the Company. 
 Notwithstanding the foregoing provisions, Employee may (i) take action for, on behalf of, and at the
direction of the Company pursuant to a written agreement with the Company or otherwise, and (ii) own up to 5% of the outstanding equity securities in any corporation or entity (including units in a master limited partnership) that is listed
upon a national stock exchange or actively traded in the over-the-counter market. 
 10. Specific Performance. Recognizing that
irreparable damage will result to the Company in the event of the breach or threatened breach of any of the foregoing covenants and assurances by Employee contained in Sections 6, 7, 8 or 9, and that the 

  

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Company’s remedies at law for any such breach or threatened breach will be inadequate, the Company, in addition to such other remedies that may be
available to it, will be entitled to an injunction, including a mandatory injunction, to be issued by any court of competent jurisdiction ordering compliance with this Agreement or enjoining and restraining Employee, and each and every person and
entity acting in concert or participation with him, from the continuation of such breach and, in addition thereto, he will pay to the Company all ascertainable damages, including costs and reasonable attorneys’ fees sustained by the Company by
reason of the breach or threatened breach of such covenants and assurances. The covenants and obligations of Employee set forth in Sections 6, 7, 8 and 9 are in addition to and not in lieu of or exclusive of any other obligations and duties
of Employee to the Company, whether express or implied in fact or in law. 
 11. Company Policies. Employee will affirmatively support
the Company’s policies and practices as they may from time to time be adopted by the Company, including policies against discrimination and harassment in the workplace. 
 12. Term and Termination. 
 (a) Subject to earlier termination as provided in Sections 12(b), 12(c) and 12(d) below, the term of Employee’s employment under this Agreement will be four (4) years from the date set forth in Section 1 and
automatically be extended for consecutive one year periods thereafter unless the Company elects to terminate Employee’s employment under this Agreement and notifies the Employee of such election at least 30 days prior to the end of the
then-current term. 
 (b) Notwithstanding Section 12(a), Employee’s employment with the Company will
terminate immediately upon the death, disability or adjudication of legal incompetence of Employee, or upon the Company’s ceasing to carry on its business without assigning this Agreement pursuant to Section 18 or becoming bankrupt.
For purposes of this Agreement, Employee will be deemed to be disabled when Employee has become unable, by reason of physical or mental disability, to satisfactorily perform the essential functions of his job and there is no reasonable accommodation
that can be provided to enable him to perform satisfactorily those essential functions. Such matters will be determined by, or to the reasonable satisfaction of, the Company. 
 (c) Notwithstanding Section 12(a), the Company may terminate Employee’s employment at any time for Cause or without
Cause. “Cause” means: (i) Employee has failed to perform his duties as an employee of the Company, to perform any obligation under this Agreement or to observe and abide by the Company’s policies and decisions, provided
that the Company has given Employee reasonable notice of that failure and Employee is unsuccessful in correcting that failure or in preventing its reoccurrence; (ii) Employee has refused to comply with specific directions of his supervisor or
other superior, provided that such directions are consistent with Employee’s position of employment; (iii) Employee has engaged in negligence (through act or omission) or misconduct that is injurious to the Company or any subsidiary,
parent or affiliate of the Company; (iv) Employee has been convicted of, or has entered a plea of nolo contendere to, any crime involving the theft or willful destruction of money or other property, any crime involving moral turpitude or fraud,
or any crime constituting a felony; (v) Employee has engaged in 

  

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acts or omissions against the Company or any subsidiary, parent or affiliate of the Company constituting dishonesty, breach of fiduciary obligation, or
intentional wrongdoing or misfeasance; or (vi) Employee has engaged in the use of alcohol or drugs on the job, or has engaged in excessive absenteeism from the performance of his duties as the Company’s employee, other than for reasons of
illness. 
 (d) Notwithstanding Section 12(a), Employee may terminate his employment at any time with Good Reason or
without Good Reason. “Good Reason” means any of the following: (i) Employee being required by the Company to be based at any office or location that is more than 75 miles from the location where Employee was employed immediately
preceding the date of the voluntary or involuntary termination of Employee’s employment, or (ii) a material reduction in Employee’s job duties and responsibilities. 
 (e) If Employee’s employment with the Company is terminated (i) as a result of the death, disability, adjudication of legal
incompetence of Employee, (ii) as a result of the Company ceasing to carry on its business without assigning this Agreement pursuant to Section 18, (iii) as a result of the Company becoming bankrupt, (iv) by the Company
for Cause, or (v) by Employee without Good Reason, the Company will pay or provide to Employee: 
 (i) such Salary as
Employee has earned and not yet received through the date of such employment termination, determined on a pro rata basis based on the number of work days in the month of termination; 
 (ii) such earned but unpaid performance bonus, if any, pursuant to Section 5(b); and 
 (iii) such other fringe benefits (other than any bonus, severance pay benefit or participation in the Company’s 401(k) employee
benefit plan) normally provided to employees of the Company as Employee has earned and not yet received through the date of such employment termination, determined on a pro rata basis based on the number of work days in the month of termination.

 (f) If Employee’s employment with the Company is terminated (1) by the Company without Cause during the term of
this Agreement (and not due to the death, disability, adjudication of legal incompetence of Employee, or as a result of the Company ceasing to carry on its business without assigning this Agreement pursuant to Section 18, or becoming
bankrupt), (2) by the Employee for Good Reason, or (3) by the Company as a result of the fulfillment of the then-current term of this Agreement pursuant to Section 12(a), the Company will pay or provide to Employee: 
 (i) such Salary as Employee has earned and not yet received through the date of such employment termination, determined on a pro rata
basis based on the number of work days in the month of termination; 
 (ii) an amount equal to greater of (A) two years
Salary ($400,000), or (B) the unpaid amount of Employee’s Salary for the remainder of the then-current term of this Agreement, in either case, payable in equal installments over two years in 

  

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accordance with the Company’s general payroll practices, commencing with the pay period immediately following the month in which such employment is
terminated; 
 (iii) such earned but unpaid performance bonus, if any, pursuant to Section 5(b); and 

(iv) such other fringe benefits (other than any bonus, severance pay benefit or participation in the Company’s 401(k) employee
benefit plan) normally provided to employees of the Company as Employee has earned and not yet received through the date of such employment termination, determined on a pro rata basis based on the number of work days in the month of termination.

 13. Survival of Obligations. All obligations of Employee that by their nature involve performance, in any particular, after the
expiration or termination of Employee’s employment with the Company, or that cannot be ascertained to have been fully performed until after the expiration or termination of Employee’s employment with the Company, will survive the
expiration or termination of this Agreement. Except as otherwise specifically provided in this Agreement, all of the Company’s obligations under this Agreement will terminate at the time this Agreement or Employee’s employment with the
Company is terminated for any reason. 
 14. Notice. Any notice, request, consent or communication under this Agreement is effective
only if it is in writing and personally delivered or sent by certified mail, return receipt requested, postage prepaid, or by a nationally recognized overnight delivery service, with delivery confirmed, addressed as follows: 
  

			
	If to the Company:	  	
		
	Name:	  	With copy to:
	 John J. Sherman
 Inergy GP, LLC
 Two Brush Creek Blvd., Suite 200
 Kansas City, Missouri 64112
	  	 Laura Ozenberger
 Inergy GP, LLC
 Two Brush Creek Blvd., Suite 200
 Kansas City, Missouri
64112

		
	If to Employee:	  	
		
	Name:	  	
	William R. Moler	  	
	14712 Knox Street	  	
	Overland Park, KS 66221	  	

 or such other persons or addresses as may be furnished in writing by any party to the other party, and will be
deemed to have been given only upon its delivery in accordance with this Section 14. 
 15. No Conflicts. Employee
represents and warrants to the Company that neither the execution nor delivery of this Agreement, nor the performance of Employee’s obligations hereunder will conflict with, or result in a breach of, any term, condition, or provision of, or
constitute a default under, any obligation, contract, agreement, covenant or instrument to which Employee is a party or under which Employee is bound, including the breach by Employee of a fiduciary duty to any former employers. 
  

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 16. Entire Agreement; Amendment. This Agreement cancels and supersedes all previous agreements
relating to the subject matter of this Agreement, written or oral, between the parties hereto and contains the entire understanding of the parties hereto with respect to the subject matter hereof and may not be amended, modified or supplemented in
any manner whatsoever except as otherwise provided herein or in writing signed by each of the parties hereto. 
 17. Potential
Unenforceability of Any Provision. If a final judicial determination is made that any provision of this Agreement is an unenforceable restriction against Employee, the provisions of this Agreement will be rendered void only to the extent that
such judicial determination finds such provisions unenforceable, and such unenforceable provisions will automatically be reconstituted and become a part of this Agreement, effective as of the date of this Agreement, to the maximum extent in favor of
the Company that is lawfully enforceable. A judicial determination that any provision of this Agreement is unenforceable will not render the entire Agreement unenforceable, but rather this Agreement will continue in full force and effect absent any
unenforceable provision to the maximum extent permitted by law. 
 18. Assignment. This Agreement is personal and not assignable by
Employee but it may be assigned by the Company without notice to or consent of Employee to, and will thereafter be binding upon and enforceable by, any affiliate of the Company and any person or entity who acquires or succeeds to substantially all
of the business or assets of the Company or substantially all of the business or assets of the principal operating unit that Employee oversees or to which Employee is assigned (and such person or entity will be deemed included in the definition of
the “Company” for all purposes of this Agreement) but is not otherwise assignable by the Company. 
 19. Waiver of Breach.
Failure of the Company to demand strict compliance with any of the terms, covenants or conditions of this Agreement will not be deemed a waiver of the term, covenant or condition, nor will any waiver or relinquishment by the Company of any right or
power hereunder at any one time or more times be deemed a waiver or relinquishment of the right or power at any other time or times. 
 20.
Expenses. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party is entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any other
relief to which such party may be entitled. 
 21. Headings. The headings of the sections of this Agreement have been inserted for
convenience of reference only and do not restrict or otherwise modify any of the terms or provisions of this Agreement. 
 22. Governing
Law. This Agreement and all rights and obligations of the parties hereunder are governed by the laws of the State of Missouri applicable to agreements made and to be performed entirely within the State, including all matters of enforcement,
validity and performance. 
  

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 23. Counterparts. This Agreement may be executed in any number of counterparts, each of which are
deemed to be an original and all of which constitute one agreement that is binding upon both of the parties hereto, notwithstanding that both parties are not signatories to the same counterpart. 
 [The remainder of this page intentionally has been left blank] 
  

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 The parties have executed this Employment Agreement on the date set forth in the introductory clause.

  

			
	INERGY GP, LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	  

	WILLIAM R. MOLER

  

 11Minera Andes Inc. Amended Stock Option Plan, as amended on June 2, 2008

 Exhibit 4.4 
 MINERA ANDES INC. 
 AMENDED STOCK OPTION PLAN – JUNE 2, 2008 
  

	1.	Purpose 

 The purpose of the Stock Option
Plan (the “Plan”) of Minera Andes Inc., a body corporate incorporated under the Business Corporations Act (Alberta) (the “Corporation”), is to advance the interests of the Corporation or any of its subsidiaries or
affiliates by encouraging the directors, officers, employees and consultants of the Corporation or any of its subsidiaries or affiliates to acquire common shares in the Corporation, thereby increasing their proprietary interest in the Corporation,
encouraging them to remain associated with the Corporation or any of its subsidiaries or affiliates and furnishing them with additional incentive in their efforts on behalf of the Corporation or any of its subsidiaries or affiliates in the conduct
of their affairs. 
  

	2.	Administration and Granting of Options 

 The
Plan shall be administered by the board of directors of the Corporation or a committee established by the board of directors for that purpose (the “Committee”). A majority of the board of directors or the Committee, as applicable shall
constitute a quorum, and the acts of a majority of the directors or members of the Committee, as applicable, present at any meeting at which a quorum is present, or acts unanimously approved in writing, shall be the acts of the directors or the
Committee, as applicable. 
 Subject to the provisions of the Plan, the board of directors or the Committee, as applicable shall have
authority to construe and interpret the Plan and all option agreements entered into thereunder, to define the terms used in the Plan and in all option agreements entered into thereunder, to prescribe, amend and rescind rules and regulations relating
to the Plan and to make all other determinations necessary or advisable for the administration of the Plan. All determinations and interpretations made by the board of directors or the Committee, as applicable, shall be binding and conclusive on all
participants in the Plan and on their legal personal representatives and beneficiaries. 
 Each option granted hereunder shall be evidenced
by an agreement, signed on behalf of the Corporation and by the optionee, in such form as the directors shall approve. Each such agreement shall recite that it is subject to the provisions of this Plan. 
  

	3.	Shares Subject to Plan 

 Subject to
adjustment as provided in Section 15 hereof, the shares to be offered under the Plan shall consist of shares of the Corporation’s authorized but unissued common shares. The aggregate number of shares to be delivered upon the exercise of
all options granted under the Plan (the “Options”) shall not exceed 10% of the Corporation’s issued and outstanding common shares from time to time, to a maximum of 18,940,243 shares. If any Option granted hereunder shall be
cancelled, expire or terminate for any reason without having been exercised in full, the unpurchased shares subject thereto shall again be available for the purpose of this Plan. 
  

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	4.	Number of Optioned Shares 

 The number of
shares subject to an Option to a Participant shall be determined by the Board of Directors, or the Committee, as applicable but no Participant, upon the Corporation becoming listed on any stock exchange, shall be granted an Option which exceeds the
maximum number of shares permitted by any stock exchange on which the common shares are then listed or other regulatory body having jurisdiction. 
 The maximum number of shares which may be reserved for issuance to insiders (the term “insider” shall have the meaning ascribed thereto in the Securities Act (Alberta) and the Toronto Stock Exchange Policies from time to
time) under the Plan, together with any other security based compensation arrangements of the Corporation, shall not exceed 10% of the shares issued and outstanding at the time of the grant (on a non-diluted basis). The maximum number of shares
which may be issued to insiders under the Plan, together with any other security based compensation arrangements of the Corporation, within any one year period shall not exceed 10% of the issued and outstanding shares. 
  

	5.	Vesting 

 Any Options granted under the Plan
shall vest to the Participant, and maybe exercisable by the Participant as follows: 
  

	 	 a)
	 33 1/3% of the Options shall vest in and be exercisable by the Participant twelve (12) months from the date of granting; 

  

	 	 b)
	 33 1/3% of the Options shall vest in and be exercisable by the Participant twenty-four (24) months from the date of granting; and 

  

	 	 c)
	 33 1/3% of the Options shall vest in and be exercisable by the Participant thirty-six (36) months from the date of granting. 

  

	6.	Maintenance of Sufficient Capital 

 The
Corporation shall at all times during the term of the Plan reserve and keep available such numbers of shares as will be sufficient to satisfy the requirements of the Plan. 
  

	7.	Participation 

 Directors, officers,
management, consultants and employees of the Corporation or any of its subsidiaries, or affiliates shall be eligible for selection to participate in the Plan (such persons hereinafter collectively referred to as “Participants”). The board
of directors or the Committee, as applicable shall determine to whom Options shall be granted, the terms and provisions of the respective option agreements, the time or times at which such Options shall be granted, and the number of shares to be
subject to each Option. An individual who has been granted an Option may, if he is otherwise eligible, and if permitted under the policies of the stock exchange or stock exchanges on which the shares of the Corporation are to be listed, be granted
an additional Option or Options if the board of directors or the Committee, as applicable shall so determine. 
  

	8.	Exercise Price 

 The exercise price of the
shares covered by each Option shall be determined by the board of directors or the Committee, as applicable. Subject to the provision of Section 17(e), the exercise price shall be not less than the closing price of the Corporation’s shares
on the stock exchange on which the shares of the Corporation are listed on the last trading day immediately preceding the day on which the Options are 

  

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granted, subject to applicable laws and regulations. If the shares of the Corporation have not traded on any exchange or over-the-counter market for an
extended period of time, the exercise price of the Options will be the fair market value of the shares as determined by the board of directors or the Committee, as applicable. 
  

	9.	Duration of Option 

 Each Option and all
rights thereunder shall be expressed to expire on the date set out in the Option agreements and shall be subject to earlier termination as provided in paragraphs 11 and 12. 
  

	10.	Option Period, Consideration and Payment 

  

	 	 (a)
	 The Option period shall be a period of time fixed by the board of directors, or the Committee, as applicable, not to
exceed the maximum period permitted by any stock exchange on which the common shares are then listed or other regulatory body having jurisdiction, provided that the Option period shall be reduced with respect to any Option as provided in
Sections 11 and 12 covering cessation as a director, officer, employee or consultant of the Corporation or any of its subsidiaries or affiliates or death of the Participant. Notwithstanding the foregoing, the expiry date of the Option
(“Fixed Term”) will be adjusted, without being subject to discretion of the board of directors or the Committee, as applicable, to take into account any self-imposed blackout period by the Corporation imposed on the Participant as follows:
a) if the Fixed Term of the Option falls within a blackout period imposed on the Participant by the Corporation, then the Fixed Term of the Option is the close of the 10th business day after the end of the such blackout period (the “Blackout Expiration Term’); or b) if the Fixed Term falls within two business days after the end of a blackout period imposed on the Participant
by the Corporation, then the Fixed Term will be that date which is the Blackout Expiration Term reduced by the number of business days between the Fixed Term and the end of such blackout period (ie Options whose Fixed Term expires two business days
after the end of the blackout period will only have an additional eight business days to exercise). 

  

	 	(b)	Except as set forth in Sections 11 and 12, no Option may be exercised unless the Participant is at the time of such exercise a director, officer, employee or consultant of the
Corporation or any of its subsidiaries or affiliates. 

  

	 	(c)	The exercise of any Option will be contingent upon receipt by the Corporation at its head office of a written notice of exercise, specifying the number of shares with respect to
which the Option is being exercised, accompanied by cash payment, certified cheque, funds wired to the Corporation’s bank account or a bank draft for the full purchase price of such shares with respect to which the Option is exercised. No
Participant or his legal representatives, legatees or distributees will be, or will be deemed to be, a holder of any shares subject to an Option under this Plan, unless and until the certificates for such shares are issued to such persons under the
terms of the Plan. 

  

	11.	Ceasing To Be a Director, Officer, Employee or Consultant 

 If a Participant shall cease to be a director, officer, employee or consultant of the Corporation or any of its subsidiaries or affiliates for any reason (other than death), the Participant may but only within the
three months next succeeding the Participant’s ceasing to be a director, officer, employee or consultant, exercise the Participant’s Option to the extent that the Participant was entitled to exercise it at the date of such cessation.

  

 3 

 Nothing contained in the Plan nor in any Option granted pursuant to the Plan shall confer upon any
Participant any right with respect to continuance as a director, officer, employee or consultant of the Corporation or any of its subsidiaries or affiliates. 
  

	12.	Death of Participant 

 In the event of the
death of a Participant, the Option previously granted to him shall be exercisable only within the twelve months next succeeding such death and then only: 
  

	 	(a)	by the person or persons to whom the Participant’s rights under the Option shall pass by the Participant’s will or the laws of descent and distribution; and

  

	 	(b)	if and to the extent that the Participant was entitled to exercise the Option at the date of the Participant’s death. 

  

	13.	Rights of Participant 

 No person entitled to
exercise an Option shall have any of the rights or privileges of a shareholder of the Corporation in respect of any shares issuable upon exercise of such Option until certificates representing such shares shall have been issued and delivered.

  

	14.	Proceeds from Exercise of Options 

 The
proceeds from the exercise of Options shall be added to the general funds of the Corporation and shall thereafter be used from time to time for such corporate purposes as the Board or the Committee, as applicable may determine and direct.

  

	15.	Adjustments 

 If the outstanding shares of
the Corporation are increased, decreased, changed into or exchanged for a different number or kind of shares of securities of the Corporation through re-organization, merger, re-capitalization, re-classification, stock dividend, subdivision or
consolidation, an appropriate and proportionate adjustment shall be made in the maximum number or kind of shares as to which Options may be granted under the Plan. A corresponding adjustment changing the number or kind of shares allocated to
unexercised Options or portions thereof, which shall have been granted prior to any such change, shall likewise be made. Any such adjustment in the outstanding Options shall be made without change in the aggregate purchase price applicable to the
unexercised portion of the Option but with a corresponding adjustment in the price for each share or other unit of any security covered by the Option. 
 Upon the liquidation or dissolution of the Corporation or upon a re-organization, merger or consolidation of the Corporation with one or more corporations as a result of which the Corporation is not the surviving
corporation, or upon the sale of substantially all of the property or more than forty (40%) percent of the then outstanding shares of the Corporation (the “Triggering Event”), the Plan shall terminate, and any Options theretofore
granted hereunder shall terminate unless provision is made in writing in connection with such transaction for the continuance of the Plan and for the assumption of Options theretofore granted, or the substitution for such Options of new options
covering the shares of a successor employer corporation, or a parent or subsidiary thereof, with appropriate adjustments as to number and kind of shares and prices, in which event the Plan and options theretofore granted shall continue in the manner
and upon the terms so 

  

 4 

 
provided. If the Plan and unexercised Options shall terminate pursuant to a Triggering Event, then the Corporation shall give notice to the Participant to
such effect (the “Expiry Notice”) not less than thirty days prior to the consummation of the Triggering Event which shall specify the Triggering Event and the closing date of the Triggering Event (the “Expiry Date”). Upon receipt
of an Expiry Notice an Participant shall immediately thereafter be entitled to exercise all Options outstanding and previously unexercised, regardless of whether such Participant would otherwise be entitled to exercise such Options to such extent at
that time and such exercise shall be conditional upon the closing of the Triggering Event. To the extent that Options have not been so conditionally exercised and all monies due to the Corporation as a result of such exercise have not been received
by the Corporation prior to the Expiry Date, then such Options shall thereafter expire and be void PROVIDED THAT if the Triggering Event does not close on the Expiry Date specified in the Expiry Notice, or any amendment thereto, then the Options
shall not terminate pursuant to this subparagraph, the Options shall be deemed not to have been exercised and all monies conditionally received by the Corporation shall forthwith be returned to the Participant, without interest, and the provisions
of this subparagraph shall continue to apply from time to time during the Option period. 
 Adjustments under this Section shall be made by
the board of directors or the Committee, as applicable whose determination as to what adjustments shall be made, and the extent thereof, shall be final, binding and conclusive. No fractional share shall be issued under the Plan on any such
adjustment. 
  

	16.	Transferability 

 All benefits, rights and
Options accruing to any Participant in accordance with the terms and conditions of the Plan shall not be transferrable or assignable unless specifically provided herein. During the lifetime of a Participant any benefits, rights and Options may only
be exercised by the Participant. 
  

	17.	Certain Limitations Regarding Incentive Stock Options Granted to U.S. Residents 

 Any of the Options issuable under the Plan, up to the maximum number of Options that may be issued under section 3 of the Plan, may be issued as Incentive
Stock Options (“ISOs”) as defined in Section 422 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”) may be granted only to an individual who is an employee of the Corporation and shall be subject to the
following limitations: 
 (a) Exercise Price. Determination of the option price per share for any stock option issued hereunder shall
rest in the discretion of the board of directors, provided that the exercise price for any ISO shall not be less than the fair market value per share of the Corporation’s shares at the time the option is granted and subject further to
subparagraph (e) of this Section 17 and Section 8. For the purposes of this Plan, the fair market value of Corporation’s shares (“Shares”), as of any date, shall be determined as follows: 
 (i) If the Shares are listed on any established stock exchange or a national market system, its fair market value shall be the closing
sales price, expressed in Canadian dollars, for such Shares (or the closing bid, if no sales were reported), as quoted on such system or exchange, or the system or exchange with the greatest closing sale price (expressed in its equivalent in
Canadian dollars)in Shares, for the last market trading day prior to the time of determination; 
 (ii) If the Shares are
regularly quoted by a recognized securities dealer but selling prices are not reported, its fair market value shall be the mean between the high bid and low asked prices for the Shares for the last market trading day prior to the time of
determination; or 
  

 5 

 (iii) In the absence of an established market for the Shares, the fair market value
thereof shall be determined in good faith by the board of directors. 
 (b) Subject to the restrictions imposed on ISOs as contained in
Section 17, the term of each option shall be established by the board of directors and, if not so established, shall be ten years from the date such ISO is granted. The board of directors, in its discretion, may provide that an option shall be
exercisable during such ten-year period or during any lesser period of time. 
 (c) Nontransferability of ISOs. No right or interest
in any ISO granted under this Plan shall be assignable or transferable except upon the death of the option holder (“Optionee”) pursuant to the terms of such Optionee’s will or the laws of descent and distribution. 
 (d) Limitation on Amount of Grants. To the extent that an Optionee is granted ISOs that in the aggregate (together with all other ISOs granted by
the Corporation or its subsidiaries) entitle the Optionee to purchase, in any calendar year during which such options first become exercisable, stock of the Corporation, any subsidiary having a fair market value (determined as of the time of such
options are granted) in excess of $100,000, such options in excess of the $100,000 threshold shall not be treated as ISOs, but shall be considered to be nonqualified stock options (“NSOs”). No limitation shall apply to NSOs. 
 (e) Grants to Ten Percent Shareholders. Subject to the terms of this Plan, ISOs may be granted to a person who, at the time the option is granted,
owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Corporation and any subsidiary only if: (i) the exercise price is at least 110 percent of the fair market value of the Shares at the time of
grant, and (ii) the option is not exercisable more than five (5) years from the date of grant. 
 (f) Shareholder Approval of
Plan. Subject to the requirements of Code Section 422 with respect to ISOs, the terms, conditions and limitations of the Plan must be approved by the Corporation’s shareholders within 12 months before or after the adoption of the Plan
or any amendment or modification thereto. Any such amendment or modification of the Plan, however, shall not alter, impair or diminish the rights of any option previously granted under the Plan without the written consent of the option holder. Nor
shall the board of directors modify or amend any outstanding ISO so as to specify a lower exercise price for the ISO. 
 (g) Notice of
Disposition Any option which is issued as an ISO under this Plan, shall, notwithstanding any other provisions of this Plan or the option terms to the contrary, contain all of the terms, conditions, restrictions, rights and limitations required
to be an Incentive Stock Option, and any provision to the contrary shall be disregarded. In order to obtain certain tax benefits afforded to incentive stock options under Section 422 of the Code, the Optionee must hold the Shares issued upon
the exercise of an ISO for a minimum of two (2) years after the date of grant of the ISO and one (1) year from the date of exercise. The board of directors may require an Optionee to give the Corporation prompt notice of any subsequent
disposition of shares acquired on exercise of such ISO prior to the expiration of the above holding periods. 
  

	18.	Amendment and Termination of Plan 

 The
Board, or the Committee, as applicable, may at any time or from time to time, in its sole and absolute discretion, amend, suspend, terminate or discontinue the Plan and may amend the terms and conditions or Options granted pursuant to the Plan,
subject to any required approval of any regulatory authority or stock exchange. Any amendment to the Plan at any time may not materially and adversely affect any Option previously granted to a Participant without the consent of the Participant,
except to the extent 

  

 6 

 
required by law. Any such amendment shall be subject to the receipt of requisite regulatory approval including, without limitation, the approval of any stock
exchange upon which the shares of the Corporation may trade from time to time, provided, however, that no such amendment may: (i) increase the maximum number of shares that may be optioned under the Plan; (ii) increase the maximum number
of shares which maybe reserved for issuance to insiders pursuant to the exercise of Options granted under the Plan together with any other security based compensation arrangements of the Corporation as set forth in Section 4 hereof; or
(iii) change the manner of determining the minimum exercise price, unless shareholder and regulatory approval is obtained. Any amendments to the terms of an Option under the Plan shall also require regulatory approval, including without
limitation, the approval of any stock exchange upon which the shares of the Corporation may trade from time to time. In addition, any amendment to the term of an Option under the Plan which would extend the expiry date of an Option held by an
insider or amend the exercise price of an Option held by an insider will require shareholder approval. For greater certainty, the Board, or the Committee, as applicable, may make the following amendments without seeking the approval of the
shareholders of the Corporation: 
  

	 	a)	amendments to the Plan to rectify typographical errors and\or to include clarifying provisions for greater certainty; 

  

	 	b)	amendments to the expiry date of an Option, unless the amendment extends the expiry date of an Option held by an insider; 

  

	 	c)	amendments to the termination provisions of an Option or the Plan; 

  

	 	d)	amendments necessary to comply with applicable law or the requirements of any stock exchange on which the common shares of the Corporation are listed; 

  

	 	e)	amendments to the exercise price (which exercise price must comply with the provisions of Section 8 hereof) unless such amendment would benefit insiders of the Corporation; and

  

	 	f)	the inclusion of cashless exercise provisions in the Plan or in any Option granted hereunder, which provide for a full deduction of the number of underlying securities from the Plan
reserve. 

  

 7 

	19.	Necessary Approvals 

 The ability of the
Options to be exercised and the obligation of the Corporation to issue and deliver shares in accordance with the Plan are subject to any approvals which may be required from the shareholders of the Corporation, and any regulatory authority or stock
exchange having jurisdiction over the securities of the Corporation. If any shares cannot be issued to any Participant for whatever reason, the obligation of the Corporation to issue such shares shall terminate and any Option exercise price paid to
the Corporation will be returned to the Participant. 
 Options issued to residents of the United States may only be issued and subsequently
exercised in conformity with the registration provisions of the Securities Act of 1933, as amended the rules and regulations thereto and the applicable state securities laws. 
  

	20.	Prior Plans 

 The Plan shall entirely replace
and supersede prior share options plans, if any, enacted by the Board of Directors of the Corporation or its predecessor corporations. 
  

	21.	Stock Exchange Rules 

 All Options granted
pursuant to this Plan shall be subject to the rules and policies of any stock exchange or exchanges on which the shares of the Corporation are then listed and any other regulatory body having jurisdiction. 
  

	22.	Applicable Law 

 This Plan shall be governed
by, administered and construed in accordance with the laws of the Province of Alberta and the laws of Canada applicable therein. 
  

	23.	Effective Date of Plan 

 The Plan has been
adopted by the board of directors or the Committee, as applicable, subject to the approval of any stock exchange on which the shares of the Corporation are listed or other regulatory body having jurisdiction and, if so approved, the Plan shall
become effective upon such approvals being obtained. 
 IN WITNESS WHEREOF the Corporation has caused its corporate seal to be affixed
hereto in the presence of its officer duly authorized in that behalf as of the 2nd day of June, 2008. 
  

					
	 MINERA ANDES INC.
	 	
			
	Per:	 	 /s/ Bonnie L. Kuhn
	 	(c/s)
		 	Bonnie L. Kuhn, Secretary	 	

  

 8

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