Document:

Exhibit
10.5

 

Execution
Version

 

INVESTOR
RIGHTS AGREEMENT

 

BULLFROG
GOLD CORP.

 

-
and -

 

BARRICK
GOLD CORPORATION

 

-
and -

 

AUGUSTA
INVESTMENTS INC.

 

	October
    26, 2020

 

    	 

    	 

    

 

TABLE
OF CONTENTS

 

	ARTICLE
    1 GENERAL	2
	 	 	 
	1.1	Definitions	2
	1.2	Rules
    of Construction	8
	1.3	Recitals
    and Schedules	8
	1.4	Currency	8
	1.5	Time
    of Essence	8
	 	 	 
	ARTICLE
    2 COVENANTS OF THE CORPORATION, INVESTOR APPROVAL RIGHTS AND CONFIDENTIALITY	9
	 	 	 
	2.1	Covenants
    of the Corporation	9
	2.2	Investor
    Approval Rights	10
	2.3	Confidentiality	10
	 	 	 
	ARTICLE
    3 BOARD COMPOSITION AND RELATED MATTERS	11
	 	 	 
	3.1	Board
    Composition and Representation	11
	3.2	No
    Conflict	13
	 	 	 
	ARTICLE
    4 PARTICIPATION RIGHT & TOP-UP RIGHT	13
	 	 	 
	4.1	Notice
    of Offering	13
	4.2	Participation
    Right	13
	4.3	Top-up
    Right	14
	4.4	Exercise
    Notice	15
	4.5	Issuance
    of Offered Securities and Top-up Shares	16
	4.6	Additional
    Terms	17
	4.7	Offerings
    Not Subject to Rights	18
	4.8	Determining
    Investor’s Ownership Percentage	19
	4.9	Acknowledgements	19
	 	 	 
	ARTICLE
    5 ANTI-CORRUPTION AND ANTI-MONEY LAUNDERING	20
	 	 	 
	5.1	Compliance
    with Anti-Corruption Laws	20
	5.2	Compliance
    with Anti-Money Laundering Laws	20
	5.3	Use
    of Funds	20
	5.4	Certification
    of Compliance	20
	 	 	 
	ARTICLE
    6 COVENANTS OF THE CORPORATION AND AUGUSTA	20
	 	 	 
	6.1	Joinder	20
	6.2	Restrictions
    on Area of Interest	21
	 	 	 
	ARTICLE
    7 REGISTRATION RIGHTS	21
	 	 	 
	7.1	Piggyback
    Registrations	21
	7.2	Expenses	21
	7.3	Future
    Registration Rights	22
	7.4	Preparation;
    Reasonable Investigation	22
	7.5	Underwriting
    or Agency Agreements	22

 

    	-i-

    	 

    

 

	ARTICLE
    8 COVENANTS OF THE INVESTORS	23
	 	 	 
	8.1	Dispositions	23
	8.2	Share
    Consolidation	24
	 	 	 
	ARTICLE
    9 MISCELLANEOUS	24
	 	 	 
	9.1	Termination	24
	9.2	Governing
    Law; Specific Performance	24
	9.3	Statements
    as to Factual Matters	25
	9.4	Amendments	25
	9.5	Successors
    and Assigns	25
	9.6	Entire
    Agreement	25
	9.7	Severability	25
	9.8	Delays
    or Omissions	25
	9.9	Press
    Releases	26
	9.10	Further
    Assurances	26
	9.11	Filing
    of Agreement	26
	9.12	Notices	27
	9.13	Counterparts	28
	 	 	 
	Schedule A FORM OF INDEMNITY AGREEMENT	1
	Schedule B REGISTRATION PROCEDURES	1

 

    	-ii-

    	 

    

 

INVESTOR
RIGHTS AGREEMENT

 

THIS
AGREEMENT is made as of the 26th day of October, 2020,

 

B
E T W E E N:

 

Bullfrog
Gold Corp.,

a
corporation existing under the laws of the State of Delaware,

 

(hereinafter
referred to as the “Corporation”),

 

–
and –

 

BARRICK
GOLD CORPORATION,

a
corporation existing under the laws of the Province of British Columbia,

 

(hereinafter
referred to as “Barrick”),

 

–
and –

 

Augusta
Investments Inc.,

a
corporation existing under the laws of the Province of British Columbia,

 

(hereinafter
referred to as “Augusta”, and together with Barrick, the “Investors”).

 

WHEREAS
Homestake Mining Company of California Inc., a California corporation (“Homestake”) and Lac Minerals (USA)
LLC, a Delaware limited liability company (“Lac Minerals” and together with Homestake, the “Barrick
Parties”), entered into a membership interest purchase agreement (the “MIPA”) with the Corporation
dated October 9, 2020, pursuant to which the Corporation agreed to purchase from the Barrick Parties all of the equity interests
in Bullfrog Mines LLC, a Delaware limited liability corporation (the “Acquisition Transaction”);

 

AND
WHEREAS pursuant to the terms of the MIPA, the Corporation agreed to issue Barrick (at the direction of the Barrick Parties),
as partial consideration under the Acquisition Transaction, 54,600,000 units in the capital of the Corporation (“Unit”),
with each Unit being comprised of: (i) one share of common stock in the Corporation (“Common Share”); and (ii)
one whole warrant (“Warrant”) entitling the holder to purchase one Common Share at an exercise price of $0.30
for four years from the date of closing of the Acquisition Transaction;

 

AND
WHEREAS contemporaneously with the execution of the MIPA, Augusta and the Corporation entered into a subscription agreement dated
October 9, 2020, pursuant to which Augusta agreed to purchase 104,250,000 Units for $0.20 per Unit (the “Financing Transaction”,
and together with the Acquisition Transaction, the “Transactions”);

 

AND
WHEREAS in connection with the closing of the Transactions, the Corporation agreed to grant certain rights to the Investors as
set forth herein;

 

NOW
THEREFORE, in consideration of the respective covenants and agreements of the Parties herein contained and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

 

    	 

    	- 2 -

    

 

ARTICLE
1 

GENERAL

 

	1.1	Definitions

 

As
used in this Agreement the following terms shall have the following respective meanings and grammatical variations of such terms
shall have corresponding meanings:

 

“Acquisition
Transaction” has the meaning set forth in the recitals hereto;

 

“Affiliate”
means, with respect to any specified Person, any other Person which, directly or indirectly, through one or more Persons Controls,
or is Controlled by, or is under common Control with, such specified Person;

 

“Affiliated
Investor” has the meaning set forth in Section 7.1;

 

“Agreement”
means this investor rights agreement among the Corporation and the Investors, as amended from time to time in accordance with
the terms hereof;

 

“Applicable
Securities Laws” means U.S. Securities Laws and Canadian Securities Laws or any of them, as the circumstances require;

 

“Area
of Interest” means all of the lands that lie within 15 miles of the exterior municipal boundaries of the town of Beatty,
Nevada, United States;

 

“Augusta”
has the meaning set forth in the preamble hereto;

 

“Barrick”
has the meaning set forth in the preamble hereto;

 

“Barrick
Parties” has the meaning set forth in the recitals hereto;

 

“Blackout
Period” has the meaning set forth in Section 4.5(d);

 

“Board”
means the board of directors of the Corporation;

 

“Board
Designee” has the meaning set forth in Section 3.1(a);

 

“Business
Day” means a day other than a Saturday, Sunday or statutory holiday in the Province of Ontario, the Province of British
Columbia or in the State of Nevada;

 

“Canadian
Securities Authorities” means any of the securities commissions or similar securities regulatory authorities in each
of the provinces and territories of Canada in which the Corporation is a reporting issuer (or has analogous status);

 

“Canadian
Securities Laws” means all applicable Canadian securities Laws, the respective regulations, rules and orders made thereunder,
and all applicable policies and notices issued by the Canadian Securities Authorities in the applicable jurisdictions in Canada;

 

    	 

    	- 3 -

    

 

“CFPOA”
has the meaning set forth in Section 5.1;

 

“Closing
Date” means the closing date of the Transactions;

 

“Common
Shares” has the meaning set forth in the recitals hereto;

 

“Confidential
Information” has the meaning set forth in Section 2.3(a);

 

“Control”,
“Controlled by” and “under common Control with”, as used with respect to any Person, means
the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person,
whether through the ownership of voting securities, by agreement or otherwise;

 

“Convertible
Securities” means any security convertible, exchangeable or exercisable for or into, with or without consideration,
Common Shares or other equity or voting securities of the Corporation, including any convertible preferred shares, debt securities,
warrants, options or other rights issued by the Corporation;

 

“Corporation”
has the meaning set forth in the preamble hereto;

 

“CSE”
means the Canadian Securities Exchange;

 

“Development”
means all preparation (other than exploration) for the removal and recovery of Products, including construction and installation
of a mill or any other improvements to be used for the mining, handling, milling, processing, or other beneficiation of Products;

 

“Dilutive
Conversion” has the meaning set forth in Section 4.3(a)(i);

 

“Disposition
Notice” has the meaning set forth in Section 8.1(b);

 

“Distribution”
means a public offering or private placement of Registrable Securities other than an Excluded Dilutive Event or a Top-up Offering;

 

“Distribution
Expenses” means all expenses incurred by the Corporation in connection with a Distribution, including: (i) all Canadian
Securities Administrators’ or the SEC, securities exchange, FINRA or other registration, listing, inclusion and filing fees;
(ii) all other fees and expenses incurred in connection with compliance with international, federal, provincial or state securities
or blue sky laws (including, without limitation, any registration, listing and filing fees and fees and disbursements of counsel
in connection with blue sky qualification of any of the Registrable Securities and the preparation of a blue sky memorandum and
compliance with the rules of FINRA); (iii) all expenses in preparing or assisting in preparing, word processing, translating,
duplicating, printing, delivering and distributing any Offering Document, any amendments or supplements thereto, any underwriting
agreements, securities sales agreements, certificates and any other documents relating to the performance under and compliance
with this Agreement; (iv) the fees and disbursements of counsel for the Corporation (including the expenses related to the preparation
of 10b-5 letters) and of the independent registered public accounting firm of the Corporation (including, without limitation,
the expenses of any special audit and “comfort letters” required by or incident to the performance of this Agreement);
(v) any other fees and disbursements customarily paid in issues and sales of securities (including the fees and expenses of any
experts retained by the Corporation in connection with any Offering Document, including any qualified persons retained to prepare
any technical report required to be filed in connection with such Offering Document); (vi) all transfer agents’, depositaries’
and registrars’ fees and the fees of any other agent appointed by the Corporation in connection with the Registration; and
(vii) all costs and expenses associated with the conduct of any “road show” related to such Registration and any related
marketing activities;

 

    	 

    	- 4 -

    

 

“Distribution
Notice” means a written notice of the Corporation disclosing its intention to effect a Distribution and setting forth
the intended size and method of such Distribution, including whether such Distribution shall occur by way of public offering,
private placement or otherwise;

 

“Downsize
Notice” has the meaning set forth in Section 4.4(d);

 

“Downsized
Entitlement” has the meaning set forth in Section 4.4(d);

 

“Exchange
Act” means the United States Securities Exchange Act of 1934;

 

“Excluded
Dilutive Event” has the meaning set forth in Section 4.7;

 

“Exercise
Notice” has the meaning set forth in Section 4.4(a);

 

“Existing
Convertible Securities” means Convertible Securities issued prior to, and outstanding on, the Closing Date;

 

“FCPA”
has the meaning set forth in Section 5.1;

 

“Financing
Transaction” has the meaning set forth in the recitals hereto;

 

“FINRA”
means the United States Financial Industry Regulatory Authority;

 

“Fully-Diluted
Basis” means, with respect to the number of outstanding Common Shares at any time, the number of Common Shares that
would be outstanding if all rights to acquire Common Shares were exercised, including all Common Shares issuable upon the conversion,
exercise or exchange of Convertible Securities;

 

“Governmental
Entity” means: (a) any domestic or foreign government, whether national, federal, provincial, state, territorial, municipal
or local (whether administrative, legislative, executive or otherwise); (b) any agency, authority, ministry, department, regulatory
body, court, central bank, bureau, board or other instrumentality having legislative, judicial, taxing, regulatory, prosecutorial
or administrative powers or functions of, or pertaining to, government; (c) any court, commission, individual arbitrator, arbitration
panel or other body having adjudicative, regulatory, judicial, quasi-judicial, administrative or similar functions; or (d) any
other body or entity created under the authority of or otherwise subject to the jurisdiction of any of the foregoing, including
any stock or other securities exchange or professional association;

 

“Investors”
has the meaning set forth in the preamble hereto and “Investor” means either of them, as the circumstances
require;

 

“Laws”
means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, formal interpretation,
or other requirement or rule of law of any Governmental Entity;

 

    	 

    	- 5 -

    

 

“Losses”
has the meaning set forth in Section 7.5(b);

 

“Market
Price” means (i) in respect of any date, the volume weighted average trading price of the Common Shares on the CSE for
the 10 trading days immediately prior to such date, or (ii) to the extent that the Common Shares are not then listed or posted
for trading on the CSE, the “Market Price” as determined pursuant to the Stock Exchange Rules of such other exchange
or marketplace on which Common Shares are then listed or posted for trading;

 

“Mining”
means the mining, extracting, producing, beneficiating, handling, milling or other processing of Products;

 

“MIPA”
has the meaning set forth in the recitals hereto;

 

“Notice
Period” has the meaning set forth in Section 4.4(a);

 

“Offered
Securities” means any equity or voting securities of the Corporation, including any Convertible Securities;

 

“Offering”
has the meaning set forth in Section 4.1;

 

“Offering
Document” means any Prospectus, Registration Statement or other offering document of the Corporation and, to the extent
prepared for use concurrently or in respect of a Distribution to be effected concurrently in any province or territory of Canada
and in the United States or any state thereof, refers collectively to the Prospectus, Registration Statement and/or other offering
document of the Corporation prepared for purposes of such Distribution;

 

“Offering
Notice” has the meaning set forth in Section 4.1;

 

“Ownership
Percentage” means, subject to adjustment in accordance with Section 4.5(e) or 4.8, at any time, an Investor’s
percentage ownership interest in the Common Shares, which shall be calculated on a partially-diluted basis by dividing (y) the
number of Common Shares held, directly or indirectly, by the Investor and its Affiliates, by (z) the total number of Common Shares
issued and outstanding at such time; provided that in the case of both (y) and (z), the number of Common Shares used in
the calculation will assume the exercise and/or conversion, by such Investor and its Affiliates only, of any Convertible Securities
held by such Investor and its Affiliates at such time (regardless of the exercise or conversion price);

 

“Participating
Investor” has the meaning set forth in Section 7.1;

 

“Participation
Right” has the meaning set forth in Section 4.2;

 

“Parties”
means, collectively, the Corporation and the Investors;

 

“Payment”
has the meaning set forth in Section 5.1;

 

“Permitted
Assign” means any Affiliate of the applicable Investor;

 

“Person”
means any individual, corporation or company with or without share capital, partnership, joint venture, association, trust, unincorporated
organization, trustee, executor, administrator or other legal personal representative, Governmental Entity or entity however designated
or constituted;

 

    	 

    	- 6 -

    

 

“Piggyback
Registrable Securities” has the meaning set forth in Section 7.1;

 

“Piggyback
Registration” has the meaning set forth in Section 7.1;

 

“Piggyback
Registration Notice” has the meaning set forth in Section 7.1;

 

“Products”
means all ores, minerals and mineral resources;

 

“Prohibited
Recipient” has the meaning set forth in Section 5.1;

 

“Proposed
Disposition Securities” has the meaning set forth in Section 8.1(b);

 

“Prospectus”
means a preliminary prospectus or a final prospectus of the Corporation in respect of its securities which has been filed with
the applicable Canadian Securities Authorities, including all amendments and all supplements thereto and all material incorporated
by reference (or deemed to be incorporated by reference) therein;

 

“Recipient”
has the meaning set forth in Section 2.3(b);

 

“Register”,
“Registered” and “Registration” unless the context requires otherwise, refers to the filing
of an Offering Document for purposes of qualifying Registrable Securities under Canadian Securities Laws for Distribution in each
of the provinces and territories of Canada in which the Corporation is a reporting issuer (or has analogous status) or under U.S.
Securities Laws in the United States and any applicable States thereof;

 

“Registrable
Securities” means:

 

	 	(a)	any
    Common Shares or Convertible Securities;
	 	 	 
	 	(b)	any
    securities acquirable upon conversion, exchange or exercise of Convertible Securities issuable to an Investor or any of its
    Affiliates;
	 	 	 
	 	(c)	any
    additional securities of the Corporation issued to or held by an Investor or any of its Affiliates; and
	 	 	 
	 	(d)	any
    securities of the Corporation issued in exchange for or in replacement of the securities referred to in clauses (a), (b) or
    (c) above;

 

“Registration
Statement” means any registration statement (other than a Form S-4 or Form S-8) under U.S. Securities Laws by the Corporation
in respect of its securities, which has been filed or will be filed with the SEC, including all amendments and all supplements
thereto, including post-effective amendments, and all exhibits and all material incorporated by reference (or deemed to be incorporated
by reference) therein;

 

“Rule
144” means Rule 144 promulgated under the Securities Act;

 

“SEC”
means the United States Securities and Exchange Commission;

 

“Securities
Act” means the United States Securities Act of 1933;

 

    	 

    	- 7 -

    

 

“Shareholder”
means a shareholder of the Corporation and “Shareholders” means all of them;

 

“Stock
Exchange Rules” means the rules, regulations, policies and staff notices of any stock exchange on which the Common Shares
are then listed or posted for trading;

 

“Subsidiary”
means, with respect to a corporation, company or limited liability company (the “Parent Corporation”), a corporation,
company or limited liability company that is (a) Controlled by the Parent Corporation, (b) Controlled by one or more corporations,
companies or limited liability companies each of which is Controlled by the Parent Corporation, or (c) is Controlled by a corporation,
company or limited liability company that is Controlled by the Parent Corporation;

 

“Top-up
Notice” has the meaning set forth in Section 4.3(b);

 

“Top-up
Offering” has the meaning set forth in Section 4.3(c);

 

“Top-up
Right” has the meaning set forth in Section 4.3(a)(i);

 

“Top-up
Shares” has the meaning set forth in Section 4.3(a)(i);

 

“Top-up
Threshold” has the meaning set forth in Section 4.3(a)(ii);

 

“Transaction
Securities” has the meaning set forth in Section 8.1(a);

 

“Transactions”
has the meaning set forth in the recitals hereto;

 

“Transfer”
means to sell, assign, transfer or otherwise convey or dispose of (including any synthetic disposal of economic rights), or commit
to do any of the foregoing;

 

“Transferring
Investor” has the meaning set forth in Section 8.1(a);

 

“Unit”
has the meaning set forth in the recitals hereto;

 

“Upsize
Notice” has the meaning set forth in Section 4.4(c);

 

“Upsize
Option” has the meaning set forth in Section 4.4(c);

 

“U.S.
OTC Markets” means the U.S. over-the-counter markets operated by OTC Markets Group Inc. and regulated by FINRA;

 

“U.S.
Securities Laws” means all applicable federal and state securities legislation of the United States, the respective
regulations, rules and orders thereunder, and all applicable rules, regulations, policy statements, notices and interpretation
notes issued by the SEC; and

 

“Warrant”
has the meaning set forth in the recitals hereto.

 

    	 

    	- 8 -

    

 

	1.2	Rules
    of Construction

 

Except
as may be otherwise specifically provided in this Agreement and unless the context otherwise requires, in this Agreement:

 

	 	(a)	the
    terms “Agreement”, “this Agreement”, “the Agreement”, “hereto”, “hereof”,
    “herein”, “hereby”, “hereunder” and similar expressions refer to this investor rights
    agreement in its entirety and not to any particular provision hereof;
	 	 	 
	 	(b)	references
    to an “Article” or “Section” followed by a number or letter refer to the specified Article or Section
    of this Agreement;
	 	 	 
	 	(c)	the
    division of this Agreement into articles and sections and the insertion of headings are for convenience of reference only
    and shall not affect the construction or interpretation of this Agreement;
	 	 	 
	 	(d)	words
    importing the singular number only shall include the plural and vice versa and words importing the use of any gender
    shall include all genders;
	 	 	 
	 	(e)	the
    word “including” is deemed to mean “including without limitation”;
	 	 	 
	 	(f)	any
    reference to a statute, regulation or rule shall be construed to be a reference thereto as the same may from time to time
    be amended, re-enacted or replaced, and any reference to a statute shall include any regulations or rules made thereunder;
	 	 	 
	 	(g)	any
    time period within which a payment is to be made or any other action is to be taken hereunder shall be calculated excluding
    the day on which the period commences and including the day on which the period ends; and
	 	 	 
	 	(h)	whenever
    any action is required to be taken or period of time is to expire on a day other than a Business Day, such action shall be
    taken or period shall expire on the next following Business Day.

 

	1.3	Recitals
    and Schedules

 

The
recitals and following schedules form an integral part of this Agreement:

 

Schedule
A – Form of Indemnity Agreement

Schedule
B – Registration Procedures

 

	1.4	Currency

 

Except
where otherwise expressly provided, all amounts in this Agreement are stated in Canadian dollars.

 

	1.5	Time
    of Essence

 

Time
shall be of the essence of this Agreement.

 

    	 

    	- 9 -

    

 

ARTICLE
2 

COVENANTS
OF THE CORPORATION, INVESTOR APPROVAL RIGHTS

AND
CONFIDENTIALITY

 

	2.1	Covenants
    of the Corporation

 

The
Corporation hereby covenants to the Investors, during the term of this Agreement, as follows:

 

(a)
Furnishing of Information. The Corporation shall use commercially reasonable efforts to timely file (or obtain extensions in respect
thereof and file within the applicable grace period) all reports required to be filed by the Corporation pursuant to the Exchange
Act. If the Corporation is not required to file reports pursuant to the Exchange Act, it will use commercially reasonable efforts
to prepare and furnish to the Investors and make publicly available in accordance with Rule 144(c) under the Securities Act such
information as is required for the Investors to sell Registrable Securities under Rule 144. The Corporation further covenants
that it will take such further action as either Investor may reasonably request, all to the extent required from time to time
to enable such person to sell such Registrable Securities without registration under Rule 144, provided such Registrable Securities
are then eligible to be sold under Rule 144, provided further, that the applicable Investor provides any information reasonably
requested by the Corporation which for the avoidance of doubt may include a broker’s representation letter that there is
an intent to sell such Registrable Securities. Notwithstanding the foregoing, the Corporation agrees to timely take all reasonable
action(s) necessary to clear Registrable Securities of restriction upon presentation of any valid Rule 144 application by an Investor
or its broker, including, without limitation, (i) authorizing the transfer agent to remove the restrictive legend, (ii) expediting
the acquisition of a legal opinion from the Corporation’s authorized counsel at the Corporation’s expense, and (iii)
delivering any additional documentation that may be reasonably required by the Investor, its broker or the transfer agent in connection
with the legend removal request, including Rule 144 share representation letters and a resolution of the Board evidencing proper
issuance of the Registrable Securities, as soon as reasonably possible.

 

(b)
Shareholder Rights Plan. No claim will be made or enforced by the Corporation or, to the knowledge of the Corporation, any other
person that either Investor is an “Acquiring Person” under any shareholder rights plan or similar plan or arrangement
in effect or hereafter adopted by the Corporation, or that either Investor could be deemed to trigger the provisions of any such
plan or arrangement, by virtue of the ownership or any future acquisition of Registrable Securities under this Agreement or any
other agreement between the Corporation and the Investors.

 

(c)
Maintain Corporate Existence. The Corporation shall use commercially reasonable efforts to maintain its existence as a corporation
validly subsisting under the Laws of its jurisdiction of existence, licensed, registered or qualified as an extra-provincial or
foreign corporation in all jurisdictions where the character of its properties owned or leased or the nature of the activities
conducted by it make such licensing, registration or qualification necessary and shall carry on its business in the ordinary course
and in compliance in all material respects with all applicable Laws, rules and regulations of each such jurisdiction.

 

(d)
Maintain Reporting Issuer Status. The Corporation shall use commercially reasonable efforts to maintain its status as a reporting
issuer under Canadian Securities Laws not in default of any material requirement of Canadian Securities Laws; provided that this
covenant shall not prevent the Corporation from completing any transaction which would result in the Corporation ceasing to be
a “reporting issuer” so long as the holders of Common Shares receive securities of an entity which is listed on a
stock exchange in Canada or the U.S. or cash, or a combination of both, or the holders of the Common Shares have approved the
transaction in accordance with the requirements of Applicable Securities Laws and applicable corporate Laws.

 

(e)
Maintain Listing Status. The Corporation shall not take any action which would reasonably be expected to result in the delisting
or suspension of the Common Shares on or from the Canadian Securities Exchange or on or from any securities exchange, market,
or trading facility on which the Common Shares are then listed or posted for trading; provided that this covenant shall not prevent
the Corporation from completing any transaction which would result in the Corporation ceasing to be listed on the CSE so long
as the holders of Common Shares receive securities of an entity which is listed on a stock exchange in Canada or the U.S. or cash,
or a combination of both, or the holders of the Common Shares have approved the transaction in accordance with the requirements
of Applicable Securities Laws and applicable corporate Laws.

 

    	 

    	- 10 -

    

 

(f)
Maintain Registration. The Corporation shall use commercially reasonable efforts to maintain the registration of its class of
Common Shares under Section 12(g) of the Exchange Act and to comply with its reporting obligations under the Exchange Act, provided
that this covenant shall not prevent the Corporation from completing any transaction which would result in the Corporation ceasing
to be listed on the CSE so long as the holders of Common Shares receive securities of an entity which is listed on a stock exchange
in Canada or the U.S. or cash, or a combination of both, or the holders of the Common Shares have approved the transaction in
accordance with the requirements of Applicable Securities Laws and applicable corporate Laws.

 

(g)
Maintain Quotation. The Corporation shall use commercially reasonable efforts to maintain eligibility for the Common Shares on
the U.S. OTC Markets or a national securities exchange in the U.S.

 

(h)
DTC Eligibility. The Corporation shall use its best efforts to maintain full eligibility of the Common Shares for electronic clearance
and settlement services through the Depository Trust Company.

 

	2.2	Investor
    Approval Rights

 

The
Corporation shall not, without the prior written approval of the Investors: (a) create or issue any class of shares or other equity
securities having voting or other rights equal to or superior to the Common Shares; or (b) undertake or cause any offering, sale
or issuance of any securities of any Subsidiary to any Person other than the Corporation or another Subsidiary of the Corporation.

 

	2.3	Confidentiality

 

(a)
Each Investor agrees that for the period commencing on the date of this Agreement and ending 12 months after such Investor’s
rights are terminated under this Agreement in accordance with Section 9.1, such Investor shall keep confidential and will not
disclose any confidential information provided by the Corporation pursuant to such Investor’s due diligence investigation
of the Corporation relating to the Transactions or otherwise divulged by the Corporation or any employee thereof pursuant to the
terms of this Agreement, including to any director of the Corporation nominated by such Investor (“Confidential Information”),
unless such Confidential Information:

 

	 	(i)	is
    known or becomes known to the public in general (other than as a result of a breach of this Section 2.3 by such Investor);
	 	 	 
	 	(ii)	is
    or has been independently developed or conceived by the applicable Investor without use of Confidential Information; or
	 	 	 
	 	(iii)	is
    or has been made known or disclosed to such Investor by a third party without a breach of any obligation of confidentiality
    such third party may have to the Corporation; provided, however, that an Investor may disclose Confidential Information:

 

    	 

    	- 11 -

    

 

	 	(A)	to
    its legal counsel, accountants, consultants, and other professionals to the extent necessary to obtain their services in connection
    with monitoring its investment in the Corporation;
	 	 	 
	 	(B)	to
    any of its Affiliates in the ordinary course of business;
	 	 	 
	 	(C)	as
    may otherwise be required by applicable Laws and the rules and policies of any stock exchange on which its or any of its Affiliates’
    securities may be listed or posted for trading, provided that such Investor promptly notifies the Corporation of such disclosure
    and takes reasonable steps to minimize the extent of any such required disclosure; or
	 	 	 
	 	(D)	pursuant
    to an order or judgement of a court of competent jurisdiction or government department or agency.

 

(b)
Each of the Persons listed in (A) or (B) in Section 2.3(a)(iii) are referred to as a “Recipient”. Each Investor
agrees that it shall disclose Confidential Information only to those Recipients who are aware of the Investor’s confidentiality
obligations under this Agreement. The Investor further agrees to be liable to the Corporation for any breach of the confidentiality
obligations hereunder by any Recipient to whom the Investor has disclosed Confidential Information.

 

ARTICLE
3 

BOARD
COMPOSITION AND RELATED MATTERS

 

	3.1	Board
    Composition and Representation

 

(a)
Provided that Barrick’s Ownership Percentage is at least 10%, Barrick shall be entitled to designate one (1) nominee (the
“Board Designee”) for election or appointment to the Board from time to time and the Corporation will promptly,
and in any event within 10 Business Days of the receipt of written notice from Barrick of the identity of its Board Designee,
cause such Board Designee to be appointed to the Board, and recommend such Board Designee for election to the Board at each annual
meeting of shareholders. The Corporation covenants and agrees that the Board will pass any resolution required from time to time
to increase the size of the Board or procure the resignation of a director to facilitate the change to the composition of the
Board to give effect to the appointment of the Board Designee pursuant to this Section 3.1. For the avoidance of doubt, Barrick
shall have the right but not the obligation to nominate a Board Designee. In the event that Barrick’s Ownership Percentage
decreases to below 10%, the Corporation shall be entitled, in its sole discretion, to request the resignation of the Board Designee.

 

(b)
The Corporation shall, in respect of every meeting of Shareholders at which the election of directors to the Board is considered,
and at every reconvened meeting following an adjournment or postponement thereof, nominate for election to the Board the Board
Designee, and shall use its commercially reasonable efforts to obtain Shareholder approval for the election of the Board Designee
at such meeting (including by soliciting proxies in favour of the Board Designee) and, to that end, the Corporation shall: (i)
support the Board Designee for election in a manner no less rigorous or favourable than the manner in which the Corporation supports
all of its other nominees, which for the avoidance of doubt shall include soliciting proxies for all nominees, and (ii) use commercially
reasonable efforts to cause management of the Corporation to vote their Common Shares, and the Common Shares in respect of which
management is granted a discretionary proxy, in favour of the election of the Board Designee at such meeting.

 

    	 

    	- 12 -

    

 

(c)
In the event that a Board Designee is not elected to the Board at a meeting of Shareholders or a Board Designee resigns as a director
or otherwise refuses to or is unable to serve as a director for any reason, including as a result of death or disability, Barrick
shall be entitled to designate a replacement director and the Corporation agrees to appoint, subject to applicable Laws and Stock
Exchange Rules, within 10 days of receiving written notice from Barrick of its new Board Designee, such individual to the Board
to serve as a Board Designee until the next meeting of Shareholders at which the election of directors to the Board is considered.

 

(d)
Provided that Barrick’s Ownership Percentage is at least 10% and it has exercised its right to nominate a Board Designee,
Barrick shall be entitled to designate its Board Designee to any special committee formed by the Corporation to consider a material
transaction; provided that the Board Designee is not in a conflict of interest in relation to such transaction, as determined
by the Board, acting reasonably.

 

(e)
Each Board Designee shall be entitled to the benefit of customary director’s and officer’s liability insurance and
a contractual indemnity agreement with the Corporation in substantially the form attached hereto as Schedule A. All directors
and officers (including existing directors and officers) of the Corporation shall be entitled to the same director’s and
officer’s liability insurance and the same form of contractual indemnity agreement with the Corporation as each Board Designee.

 

(f)
Any Board Designee must: (i) meet the qualification requirements to serve as a director under the Delaware General Corporation
Law, if applicable, and any other applicable Laws, statute, ordinance, decree, requirement, order, treaty, proclamation, convention,
rule or regulation (or interpretation of any of the foregoing) of any Governmental Entity; (ii) prepare and submit all documents
required of a director of the Corporation, including a Personal Information Form, pursuant to any applicable Stock Exchange Rules;
and (iii) have experience in mining or mining related activities, financial markets or corporate finance.

 

(g)
Barrick shall advise the Corporation of the identity of any Board Designee at least 20 Business Days prior to the date on which
proxy solicitation materials are to be mailed or made available (as advised by the Corporation to Barrick) for purposes of any
meeting of Shareholders at which the election of directors to the Board is to be considered; provided that notice of such mailing
date is provided to Barrick or the Board Designee at least 30 Business Days in advance. If Barrick does not advise the Corporation
of the identity of such Board Designee prior to such deadline (and the requisite notice was provided), then Barrick shall be deemed
to have nominated its incumbent Board Designee. If Barrick does not have a Board Designee at the relevant time, the Corporation
shall advise Barrick of the date any such proxy solicitation materials are to be mailed or made available to Shareholders at least
30 Business Days prior to such date.

 

(h)
Barrick or the Board Designee shall provide to the Corporation upon reasonable request such information relating to the Board
Designee as is required to be disclosed by the Corporation from time to time pursuant to Applicable Securities Laws.

 

(i)
The Board Designee shall receive notice of each meeting of the Board and each committee of the Board of which it is a member in
accordance with the bylaws of the Corporation and applicable Laws. The Board Designee shall be entitled to participate in meetings
of the Board and each committee of the Board of which it is a member by any means permitted pursuant to the bylaws of the Corporation
or applicable Laws. The Board Designee shall be entitled to all of the rights, entitlements, perquisites, remuneration and expense
reimbursements to which the directors of the Corporation are entitled pursuant to the policies, mandates and bylaws of the Corporation
and applicable Laws.

 

    	 

    	- 13 -

    

 

	3.2	No
    Conflict

 

The
Corporation covenants and agrees that any advance notice by-law or policy or similar instrument, of or adopted by the Corporation
shall not restrict, limit, prohibit or conflict with the exercise by Barrick of its nomination rights under Section 3.1.

 

ARTICLE
4 

PARTICIPATION
RIGHT & TOP-UP RIGHT

 

	4.1	Notice
    of Offering

 

Provided
that an Investor has an Ownership Percentage of at least 10%, if the Corporation proposes to issue any Offered Securities pursuant
to a public offering, a private placement or otherwise (but excluding any issuances of Common Shares in respect of which the Top-up
Right (as defined below) would be applicable) (each, an “Offering”) at any time after the date hereof, the
Corporation will, promptly, but in any event by the date on which the Corporation files an Offering Document in connection with
an Offering that constitutes a public offering of Offered Securities, and at least seven Business Days prior to the expected completion
date of the Offering, give written notice of the Offering (the “Offering Notice”) to such Investor including,
to the extent known by the Corporation, full particulars of the Offering, including the number of Offered Securities, the rights,
privileges, restrictions, terms and conditions of the Offered Securities, the price per Offered Security to be issued under the
Offering, the name of any agent(s) or underwriter(s) expected to be involved in the Offering, the intended form of the Offering
(e.g., bought deal, overnight marketed, fully marketed, private placement, etc.), the expected use of proceeds of the Offering,
the expected closing date of the Offering and the relative entitlements of each Investor to participate in the Offering based
on the information available to the Corporation at such time. In addition, the Corporation shall promptly, and in any event within
one Business Day of receipt of such information from the Investors, confirm in writing to the Investors the intention of the other
Investor to subscribe for and purchase Common Shares and/or Offered Securities pursuant to its Participation Rights in connection
with each Offering, if applicable.

 

	4.2	Participation
    Right

 

Provided
that an Investor has an Ownership Percentage of at least 10%, such Investor (directly or through an Affiliate, in which case the
provisions of this Article 4 shall apply mutatis mutandis) shall have the right (the “Participation Right”)
to subscribe for and to be issued as part of an Offering, at the offering price per Offered Security determined pursuant to Section
4.6(a), and otherwise on substantially the same terms and conditions of the Offering (provided that, if such Investor is prohibited
by Applicable Securities Laws or other applicable Laws from participating on substantially the same terms and conditions of the
Offering, the Corporation shall use commercially reasonable efforts to enable such Investor to participate on terms and conditions
that are as substantially similar as circumstances permit):

 

	 	(a)	in
    the case of an Offering of Common Shares, up to such number of Common Shares that will allow such Investor to maintain an
    Ownership Percentage, after giving effect to such Offering, that is the same as the Ownership Percentage that it had immediately
    prior to completion of such Offering; and
	 	 	 
	 	(b)	in
    the case of an Offering of Offered Securities (other than or in addition to Common Shares), up to such number of Offered Securities
    that will (assuming, for all purposes of this Section 4.2(b), the conversion, exercise or exchange of all of the convertible,
    exercisable or exchangeable Offered Securities issued in connection with the Offering and issuable pursuant to this Section
    4.2) allow such Investor to maintain a percentage ownership interest in the Common Shares (calculated on a Fully-Diluted Basis),
    after giving effect to such Offering, that is the same as the percentage ownership interest that it had immediately prior
    to completion of such Offering (calculated on a Fully-Diluted Basis).

 

    	 

    	- 14 -

    

 

	4.3	Top-up
    Right

 

(a)
Without limiting Section 4.2, the Corporation agrees that, provided that an Investor has an Ownership Percentage of at least 10%:

 

	 	(i)	such
    Investor (directly or through an Affiliate, in which case the provisions of this Article 4 shall apply mutatis mutandis)
    has the right (the “Top-up Right”) to subscribe for and to be issued in connection with the issuance of
    Common Shares on the conversion, exercise or exchange of Existing Convertible Securities (a “Dilutive Conversion”)
    up to such number of Common Shares (the “Top-up Shares”) that will allow such Investor to maintain an Ownership
    Percentage, after giving effect to such Dilutive Conversions referenced in the Top-up Notice (as defined below), that is the
    same as the Ownership Percentage that it would have had but for the Dilutive Conversions referenced in the Top-up Notice;
    and
	 	 	 
	 	(ii)	the
    Top-up Right shall be exercisable from time to time following Dilutive Conversions having a cumulative exercise price of at
    least $250,000 (whether such exercise price is being satisfied through cash payment to the Corporation of an exercise price,
    on a “cashless” basis, or upon the conversion of debt of the Corporation to Common Shares, or otherwise) (the
    “Top-up Threshold”).

 

(b)
Subject to Section 4.3(d) and 4.5(d), within five Business Days of the date on which one or more Dilutive Conversions occurs resulting
in the Top-up Threshold being achieved, the Corporation shall deliver a written notice (a “Top-up Notice”)
to the applicable Investor notifying such Investor that its Top-up Right has become exercisable and setting out the number of
Existing Convertible Securities converted, exercised or exchanged into Common Shares, and the total number of issued and outstanding
Common Shares following such Dilutive Conversions and any other conversions, exercises and exchanges of Convertible Securities
from the end of the last period in respect of which a Top-up Notice was delivered.

 

(c)
Subject to Sections 4.5(d) and 4.5(e), if the applicable Investor delivers an Exercise Notice in accordance with Section 4.4,
the Corporation shall in accordance with the provisions of this Article 4, promptly, and in any event within 10 Business Days
of the date on which the relevant Exercise Notice was delivered, complete an offering to such Investor of the number of Top-up
Shares that such Investor wishes to subscribe for pursuant to the Top-up Right, as specified in the Exercise Notice, at an offering
price per Top-up Share determined pursuant to Section 4.6(b) (each, a “Top-up Offering”).

 

(d)
Notwithstanding Sections 4.3(a), 4.3(b) or 4.3(c), if a Top-up Threshold is achieved, or is determined by the Corporation, acting
reasonably, to be likely to occur prior to the date on which a record date for a meeting of Shareholders is to be set, a Top-up
Notice shall be delivered to the applicable Investor at least 20 Business Days prior to such record date or such shorter period
prior to such record date as may be agreed in writing between the Investor and the Corporation upon confirmation by the Corporation
that it has all necessary authorizations and approvals to complete the Top-up Offering within such shortened period. If the relevant
Investor delivers an Exercise Notice in accordance with Section 4.4, or during such shortened Notice Period as may have been agreed
between the Corporation and the Investor pursuant to this Section 4.3(d), in response to a Top-up Notice delivered pursuant to
this Section 4.3(d), the Corporation shall in accordance with the provisions of this Article 4, promptly, and in any event prior
to declaring the record date for such Shareholder meeting, complete a Top-up Offering to such Investor.

 

    	 

    	- 15 -

    

 

	4.4	Exercise
    Notice

 

(a)
If an Investor wishes to exercise its Participation Right or its Top-up Right, such Investor shall give written notice to the
Corporation (the “Exercise Notice”) of its intention to exercise such right and of the number of Offered Securities
or Top-up Shares that such Investor wishes to subscribe for and purchase pursuant to the Participation Right or the Top-up Right,
as applicable. The applicable Investor shall deliver an Exercise Notice to subscribe to: (i) an Offering (other than in connection
with a public offering that is a bought deal), within five Business Days after the date of receipt of an Offering Notice; (ii)
subject to Section 4.6(d), an Offering that is a bought deal, within two Business Days after the date of receipt of an Offering
Notice; or (iii) subject to Section 4.5(d), the issuance of Top-up Shares, within five Business Days after the date of receipt
of a Top-up Notice (the “Notice Period”), failing which such Investor will not be entitled to exercise the
Participation Right or the Top-up Right in respect of such Offering or issuance of Top-up Shares, as applicable, and any rights
that such Investor may have had to subscribe for any of the Offered Securities or Top-up Shares, as applicable, shall be extinguished,
in respect of such Offering or issuance of Top-up Shares. For the avoidance of doubt, an Investor is not entitled to exercise
its Participation Right in connection with any Offering in respect of which it has delivered a Piggyback Registration Notice.

 

(b)
Each Exercise Notice shall constitute a binding agreement by the applicable Investor to subscribe for and take up, and by the
Corporation to issue and sell to such Investor, the number of Offered Securities or Top-up Shares, as applicable, that such Investor
agrees to subscribe for in its Exercise Notice.

 

(c)
If the Corporation at any time proposes to increase the number of any Offered Securities to be issued in an Offering, the Corporation
shall, by notice in writing delivered to the applicable Investor (the “Upsize Notice”), give such Investor
the option to subscribe for its pro rata share of the additional Offered Securities (the “Upsize Option”).
Subject to Section 4.6(d), the applicable Investor shall be entitled to exercise the Upsize Option by delivering a new Exercise
Notice to the Corporation. If no new Exercise Notice is delivered by such Investor to the Corporation within six hours of receipt
by such Investor of the Upsize Notice, the Exercise Notice of such Investor delivered in respect of the original Offering Notice
shall continue in full force and effect and the Investor rights in Section 4.6(d) shall become applicable.

 

(d)
If for any reason the number of Offered Securities to be issued in an Offering is reduced or otherwise less than the number of
Offered Securities set out in the Offering Notice, the Corporation shall provide written notice to the applicable Investor (the
“Downsize Notice”) confirming the new number of Offered Securities of the Offering and the corresponding pro
rata reduction of the entitlement of such Investor to participate in the Offering (the “Downsized Entitlement”);
provided that no such reduction shall be made to the extent that such reduction would result in a reduction of the Ownership Percentage
or the percentage ownership interest of such Investor calculated on a Fully-Diluted Basis following completion of such Offering.
Following delivery of the Downsize Notice, the Exercise Notice and the Downsize Notice shall together constitute a binding agreement
by such Investor to subscribe for and take up, and by the Corporation to issue and sell to such Investor, the number of Offered
Securities equal to the Downsized Entitlement and such Investor shall be entitled to a refund (to be paid to such Investor within
two Business Days of completion of the Offering) to the extent that it has already remitted funds to the Corporation in payment
in connection with such Offering.

 

    	 

    	- 16 -

    

 

	4.5	Issuance
    of Offered Securities and Top-up Shares

 

(a)
The Corporation agrees to take any and all commercially reasonable steps as are required to facilitate the rights of each of the
Investors set forth in this Article 4, including: (i) undertaking a private placement or directed offering of Offered Securities
to an Investor as part of such Offering; (ii) if required, increasing the size of the Offering to satisfy its obligations to the
applicable Investor pursuant to Sections 4.2 through 4.4, inclusive; and (iii) undertaking a private placement of Top-up Shares
to an Investor, in each case, subject to obtaining any regulatory or other approvals required by applicable Laws or Stock Exchange
Rules.

 

(b)
If the Corporation receives an Exercise Notice from an Investor within the Notice Period, then the Corporation shall use its commercially
reasonable efforts to obtain all required approvals (including any approval(s) required pursuant to Stock Exchange Rules, Applicable
Securities Laws or other applicable Laws and, subject to Section 4.5(c), any Shareholder approval required thereunder, including
by using commercially reasonable efforts to cause management and each member of the Board to vote their Common Shares and any
shares of the Corporation entitled to vote on the matter and all votes received by proxy in favour of the issuance of the Offered
Securities or the Top-up Shares, as applicable, to such Investor), in order to issue to such Investor, against payment of the
subscription price payable in respect thereof (as determined pursuant to Section 4.6(a) or 4.6(b), as applicable), that number
of Offered Securities or Top-up Shares, as applicable, set forth in the Exercise Notice.

 

(c)
If the Corporation is required by Stock Exchange Rules, Applicable Securities Laws or otherwise under applicable Laws to seek
Shareholder approval for the issuance of all or a portion of the Offered Securities or the Top-up Shares, as applicable, to the
Investor, then the Corporation shall: (i) complete the issuance of that portion, if any, of the Offered Securities or Top-up Shares
which may be issued without prior Shareholder approval, as applicable, to the Investors in accordance with the terms of Article
4 (provided that such issuance shall be made on a pro rata basis to the Investors based on their respective Ownership Percentages
at the relevant time, if applicable); (ii) cause the issuance of the balance of the Offered Securities or the Top-up Shares, as
applicable, to the Investors to be included on the agenda and voted upon by Shareholders at the Corporation’s next shareholder
meeting; and (iii) recommend approval of the issuance of the Offered Securities or the Top-up Shares, as applicable, which are
subject to Shareholder approval to the applicable Investor and shall solicit proxies in support thereof. Each of the Investors
shall have a reasonable advance right to review and provide comments on all materials to be provided to the Shareholders in connection
with such meeting, and the Corporation shall give reasonable consideration to all such comments made and shall incorporate all
comments that relate to or refer to such Investor, to the extent commercially reasonable.

 

(d)
Notwithstanding any other provision of this Agreement, to the extent that the Corporation shall have determined in good faith,
after obtaining the advice of external legal counsel, that it is prohibited under Applicable Securities Laws from offering or
issuing Top-up Shares to an Investor as a result of the existence of material undisclosed information relating to the Corporation
or a regularly scheduled quarterly blackout period that shall not exceed a period commencing on the date following a financial
quarter end and ending on the date that is two trading days following release of the relevant quarterly financial statements (a
“Blackout Period”), the Corporation may delay compliance with the deadlines to give notice of or complete the
issuance of Top-up Shares; provided that it complies with the alternative procedures set out in this Section 4.5(d) and Section
4.6(b). If the commencement or completion of a Top-up Offering is delayed as a result of a Blackout Period, the Corporation shall
deliver to the Investors: (i) prompt written notice that a Top-up Offering has been triggered but is delayed as a result of a
Blackout Period, including details of the commencement and termination date (if known) of such Blackout Period, and (ii) no more
than five Business Days following the end of such Blackout Period, written notice that the Blackout Period has ended or the relevant
Top-up Notice, to the extent not previously delivered as a result of the Blackout Period. Following delivery to the Investors
of the notice contemplated by Section 4.5(d)(i), an Investor shall not be entitled to deliver an Exercise Notice in respect of
any previously delivered Top-up Notice, in which case the Investor shall be entitled to deliver its Exercise Notice within five
Business Days of receipt of the notice delivered by the Corporation pursuant to Section 4.5(d)(ii) at the end of the relevant
Blackout Period. Where an Exercise Notice is delivered prior to the commencement of a Blackout Period, the relevant Top-up Shares
shall be issued to the Investor no more than 10 Business Days following the end of the intervening Blackout Period.

 

    	 

    	- 17 -

    

 

(e)
If the purchase and sale of all or a portion of any Offered Securities or Top-up Shares, as applicable, to an Investor is delayed
as a result of a Blackout Period, or the need to obtain any approval under Stock Exchange Rules, Shareholder approval or any other
approval: (i) the sale of the portion (if any) of any Offered Securities or Top-up Shares, as applicable, for which any such approval
is either not required or has been obtained shall be completed in accordance with the other applicable provisions of this Article
4; (ii) the sale of the remainder of the Offered Securities or the Top-up Shares, as applicable, shall be completed within 10
Business Days of receipt of the last of such required approvals or expiry of the Blackout Period, if applicable, or to the extent
that an Exercise Notice has not previously been delivered in respect of such Offered Securities or Top-up Shares, within 10 Business
Days of the delivery of such Exercise Notice; and (iii) any decrease in the Ownership Percentage of such Investor occurring in
connection with the events giving rise to the requirement of the Corporation to deliver an Offering Notice or Top-up Notice and
the issuance of Offered Securities or Top-up Shares, as applicable, to such Investor shall be disregarded for all purposes of
this Agreement and, notwithstanding any other provision of this Agreement, the Ownership Percentage of such Investor shall be
deemed to be unchanged until the Offered Securities or Top-up Shares, as applicable, have been issued and sold to such Investor.

 

	4.6	Additional
    Terms

 

(a)
The Participation Right will be exercisable by an Investor at the offering price made available by the Corporation to other investors
in such Offering; provided that if the offering price is lowered by the Corporation in the course of any such Offering,
such Investor will be entitled to pay the lowest price paid to the Corporation by any investor in the relevant Offering without
regard to any applicable fees or commissions (except for any such fees or commissions that are paid or payable to the ultimate
beneficial purchasers of such Offered Securities) in respect of each class of securities issued (and such Investor will be entitled
to a refund (to be paid to such Investor within two Business Days of completion of the Offering) to the extent that it has already
remitted funds to the Corporation in payment in connection with such Offering) and otherwise on substantially the same terms and
conditions offered to other investors in the Offering.

 

(b)
The Top-up Right will be exercisable by an Investor at the Market Price calculated as at the date on which the Exercise Notice
is delivered by the relevant Investor, and such price shall be paid by the Investor on the date of issuance of the Top-up Shares
as notified to the Investor by the Corporation at least two Business Days prior to such issuance date; provided that, if
a Blackout Period delays the issuance of Top-up Shares under the Top-up Right, in circumstances where an Exercise Notice has been
delivered by the relevant Investor prior to the Blackout Period, the Top-up Shares shall be issued at: (A) the Market Price on
the date on which the Exercise Notice was delivered by the Investor, if permitted by applicable Stock Exchange Rules; or (B) the
Market Price calculated under applicable Stock Exchange Rules after applying up to the maximum permitted discount available in
connection with such Top-up Offering that would result in the relevant Investor purchasing the Top-up Shares at the price that
is as close as possible to, but not less than, the price that would apply in (A) if permitted by applicable Stock Exchange Rules.
For the avoidance of doubt, in no circumstances shall the Corporation be required to issue Top-up Shares at a discount that exceeds
the maximum allowable discount. The Corporation covenants and agrees to use its commercially reasonable efforts to request the
CSE or such other stock exchange on which the Common Shares are then listed or posted for trading to provide price protection,
and issuance and listing approval, as applicable, to permit the Top-up Shares to be issued at the price determined pursuant to
this Section 4.6(b). For the avoidance of doubt, each Top-up Offering will be an offering of Common Shares.

 

    	 

    	- 18 -

    

 

(c)
If the Corporation has not issued Offered Securities in connection with an Offering within 90 days of the expiry of the relevant
Notice Period, the Corporation shall not thereafter proceed with such Offering without providing the applicable Investor with
a new Offering Notice and further opportunity to deliver an Exercise Notice in respect of such Offering.

 

(d)
Notwithstanding any other provision of this Article 4, if any Offering is to be conducted on a bought deal basis or is upsized,
an Investor may, with the prior written consent of the Corporation (to be obtained prior to delivery of its applicable Exercise
Notice), choose not to participate in the bought deal or Upsize Option but instead elect, within five Business Days after the
date of receipt of an Offering Notice or Upsize Notice, to exercise its rights under this Agreement through a private placement
to be completed concurrently with, or within three Business Days following, the completion of such bought deal or upsized Offering.

 

(e)
The Corporation shall not commence any Offering pursuant to this Agreement which would give rise to the Participation Right or
Top-up Right of an Investor unless there are sufficient securities reserved for issuance in its share capital to accommodate the
rights of each such Investor pursuant to this Article 4. The Corporation shall from time to time take any and all actions required
by it to accommodate the rights of the Investors pursuant to this Article 4, including obtaining Shareholder approval for any
requisite increase in its share capital. In connection with any such meeting of Shareholders, the Corporation shall recommend
approval of the requisite increase to its share capital and shall solicit proxies in support thereof.

 

	4.7	Offerings
    Not Subject to Rights

 

Notwithstanding
anything to the contrary contained herein, Sections 4.1 to 4.6, inclusive, will not apply to any Offerings in the following circumstances
(each such Offering pursuant to paragraph 4.7(a) through 4.7(d), inclusive, being referred to as an “Excluded Dilutive
Event”):

 

	 	(a)	a
    rights offering that is open to all Shareholders (including the applicable Investor);
	 	 	 
	 	(b)	any
    share split, share dividend or recapitalization of the Corporation or any Subsidiary, provided that the beneficial Shareholders
    or shareholders of such Subsidiary, as applicable, do not change as a result thereof;
	 	 	 
	 	(c)	issuances
    for compensatory purposes to directors, officers, employees of or consultants to the Corporation and its Affiliates made after
    the Closing Date pursuant to a security compensation plan of the Corporation that complies with the requirements of the CSE;
    and
	 	 	 
	 	(d)	any
    equity securities issued for consideration other than cash pursuant to a merger, amalgamation, arrangement, consolidation
    or similar business combination approved by the Board.

 

    	 

    	- 19 -

    

 

	4.8	Determining
    Investor’s Ownership Percentage

 

For
the purposes of calculating the Ownership Percentage:

 

	 	(a)	any
    increase in the Common Shares arising from the conversion, exchange or exercise of any Convertible Securities issued pursuant
    to an Excluded Dilutive Event covered by Section 4.7(c) shall be disregarded and excluded from the number of Common Shares
    in the denominator of the calculation of Ownership Percentage; and
	 	 	 
	 	(b)	any
    Common Shares issued as a result of a Dilutive Conversion shall be disregarded and excluded from the number of Common Shares
    in the denominator of the calculation of Ownership Percentage, unless and until the Corporation has delivered to the applicable
    Investor a Top-up Notice in respect of such Dilutive Conversion and: (i) such Investor fails or declines to exercise the Top-up
    Right within the applicable Notice Period, in which case, the Common Shares issued in connection with such Dilutive Conversion
    shall be included from the date such Investor fails or declines to exercise the Top-up Right within the applicable Notice
    Period; or (ii) such Investor exercises the Top-up Right within the applicable Notice Period, in which case the Common Shares
    issued in connection with such Dilutive Conversion shall be included from the date on which the Top-up Shares are issued and
    sold to the applicable Investor.

 

	4.9	Acknowledgements

 

The
Corporation acknowledges and agrees that it will comply with its obligations to the Investors contained in Article 4 to the extent
that such rights are engaged in connection with any Offering, in a coordinated manner and as part of such Offering so as to ensure
that the exercise of any such right does not trigger or give rise to any further or consequential pre-emptive right of any of
the Investors.

 

    	 

    	- 20 -

    

 

ARTICLE
5 

ANTI-CORRUPTION
AND ANTI-MONEY LAUNDERING

 

	5.1	Compliance
    with Anti-Corruption Laws

 

The
Corporation shall not make, and shall cause its Affiliates not to make, any promise, offer, or transfer, either directly or indirectly,
of any money, other assets or services, or other things of value, including but not limited to the payments derived by the Corporation
from the Investors (each, a “Payment”), to any employee, officer, agent, or representative of any Governmental
Entity, foreign political party or public international organization, or a candidate for political office, or any individual acting
in an official capacity for any Governmental Entity (each a “Prohibited Recipient”), where such Payment would
constitute a violation of the Foreign Corrupt Practices Act of 1977 (United States), as amended, and the rules and regulations
thereunder (the “FCPA”), any applicable state Laws of the United States of America regarding corruption, the
Corruption of Foreign Public Officials Act (Canada) (the “CFPOA”) or any similar Laws or regulation
of any other country that may reasonably possess legal jurisdiction over the Corporation or the Investors. In addition, regardless
of legality, the Corporation shall not offer, promise or make any Payment either directly or indirectly to a Prohibited Recipient
if such Payment is for the purpose of influencing decisions or action or securing improper influence or any improper advantage.
The Corporation will monitor, and will cause its Affiliates to monitor, their respective businesses and adopt, appropriately implement
and maintain anti-corruption policies, procedures and internal controls (including internal accounting controls to keep and maintain
accurate and reasonably detailed books and financial records of expenses, receipts, payments made or received in connection with
its business), to ensure:

 

	 	(a)	a
    violation of applicable anti-corruption Laws by the Corporation and its Affiliates (including their respective personnel)
    will be prevented, detected and deterred (to the greatest extent possible); and
	 	 	 
	 	(b)	compliance
    (including by its or their personnel, and third parties acting on its or their behalf with any “foreign official”
    or “foreign public official” (as applicable), any foreign political party or candidate thereof) with the FCPA,
    the CFPOA and any other applicable Law, as applicable, and, if violations of the FCPA, the CFPOA or any other applicable Laws
    are found, will promptly notify the Investors and take remedial action to remedy such violations.

 

	5.2	Compliance
    with Anti-Money Laundering Laws

 

The
Corporation will conduct, and will cause its Affiliates to conduct, its and their operations at all times in compliance with all
material applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act
of 1970 (United States), as amended, the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada),
the money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar
applicable rules, regulations or guidelines, issued, administered or enforced by any Governmental Entity.

 

	5.3	Use
    of Funds

 

The
Corporation will not directly or indirectly use any funds advanced by either of the Investors, or lend, contribute or otherwise
make available any such funds to any of its Affiliates, any joint venture partner or other Person or entity, for the purpose of
financing the activities of any Person subject to any United States sanctions administered by the Office of Foreign Assets Control
of the United States Treasury Department.

 

	5.4	Certification
    of Compliance

 

Upon
receipt of information that any obligation of the Corporation pursuant to this Article 5 has been violated, each Investor shall
have the right to conduct an audit of the Corporation to ensure compliance with the requirements of this Article 5. The Corporation
will provide such periodic certificates of compliance in respect of this Article 5 as may from time to time be reasonably requested
in writing by an Investor.

 

ARTICLE
6 

COVENANTS
OF THE CORPORATION AND AUGUSTA

 

	6.1	Joinder

 

The
Corporation shall cause its Affiliates to conduct their business and affairs in a manner consistent with, and so as to give full
effect to, all of the terms and conditions of this Agreement.

 

    	 

    	- 21 -

    

 

	6.2	Restrictions
    on Area of Interest

 

The
Corporation and Augusta hereby covenant and agree, in favour of Barrick, that: (a) any exploration, Development or Mining activities
within the Area of Interest; (b) any acquisition in furtherance of the activities set out in (a); and/or (c) any investments in
any Person engaging in the activities in (a) or (b) shall be conducted by the Corporation and its Affiliates and Augusta and its
Affiliates solely and exclusively by and through the Corporation and its wholly-owned Subsidiaries.

 

ARTICLE
7 

REGISTRATION
RIGHTS

 

	7.1	Piggyback
    Registrations

 

Each
time the Corporation elects to proceed with a proposed Distribution of any of its securities, the Corporation shall as soon as
practicable deliver a Distribution Notice to each Investor that (x) has an Ownership Percentage of 10% or more or (y) is an “affiliate”
of the Corporation pursuant to Rule 144 under the Securities Act (an “Affiliated Investor”). In such event,
each such Affiliated Investor shall be entitled, by notice in writing given to the Corporation (a “Piggyback Registration
Notice”) within five Business Days (except in the case of a “bought deal” in which case such Affiliated
Investor shall have only two Business Days) after the receipt of any such Distribution Notice, to require that the Corporation
cause that number of the Registrable Securities held by such Affiliated Investor (the “Participating Investor”)
that represents up to 10% of the Registrable Securities to be sold in such Distribution (the “Piggyback Registrable Securities”)
to be sold in such Distribution (such qualification being hereinafter referred to as a “Piggyback Registration”).
Any Distribution in respect of which there is a Piggyback Registration shall proceed in accordance with the procedures set forth
in Schedule B. If the size of the Distribution is increased or decreased from the size disclosed in the Distribution Notice, each
Participating Investor shall, acting in its sole discretion, have 48 hours to adjust the number of its Piggyback Registrable Securities.
Notwithstanding the foregoing:

 

	 	(a)	the
    Corporation may at any time, and without the consent of the Participating Investor(s), abandon the proposed Distribution in
    which the Participating Investor(s) has delivered a Piggyback Registration Notice; provided that the Corporation will
    pay all Distribution Expenses in connection with such abandoned Distribution; and
	 	 	 
	 	(b)	if
    the proposed Distribution is not completed within 180 days of a Piggyback Registration Notice, any Piggyback Registration
    Notice delivered by the Participating Investor(s) hereunder shall be deemed to be withdrawn and the Corporation shall again
    be required to comply with the procedures set out in this Section 7.1 with respect to any proposed Distribution.

 

	7.2	Expenses

 

Subject
to Section 7.1(a), all Distribution Expenses incident to the performance of or compliance with this Article 7 by the Parties shall
be borne by the Corporation, other than the following Distribution Expenses, which shall be borne by the Participating Investor:

 

	 	(a)	any
    and all commissions payable to any underwriter for an underwritten offering or agent for an agency offering that are attributable
    to the Registrable Securities to be sold by the Participating Investor pursuant to any Piggyback Registration; and
	 	 	 
	 	(b)	any
    and all fees, disbursements and expenses of legal counsel or other advisors retained by the Participating Investor in connection
    with such Piggy Back Registration.

 

    	 

    	- 22 -

    

 

	7.3	Future
    Registration Rights

 

Except
as set out herein, the Corporation shall not grant registration rights to any Person without the prior written consent of each
of the Investors unless the granting of such registration rights does not limit, in any material respect, the registration rights
granted to the Investors pursuant to this Agreement and such registration rights are not materially more favorable to the grantee
than the registration rights granted to the Investors.

 

	7.4	Preparation;
    Reasonable Investigation

 

In
connection with the preparation and filing of any Offering Document as herein contemplated, the Corporation shall give the Participating
Investor(s) and any underwriters for an underwritten offering or agents for an agency offering, as applicable, and their respective
counsel and other representatives, the opportunity to participate in the preparation of such documents and each amendment or supplement
thereto, and shall insert therein such material furnished to the Corporation in writing, which in the reasonable judgment of such
Participating Investor(s) and its counsel should be included. The Corporation shall cooperate with the Participating Investor(s)
and any underwriters or agents, as applicable, in the conduct of all reasonable and customary due diligence which the Participating
Investor(s), any underwriters or agents, as applicable, and their respective counsel may reasonably require in order to conduct
a reasonable investigation for purposes of establishing a due diligence defence as contemplated by Applicable Securities Laws
and in order to enable the Participating Investor(s), such underwriters or agents to execute any certificate required for inclusion
in each Offering Document.

 

	7.5	Underwriting
    or Agency Agreements

 

(a)
If requested by the underwriters for any underwritten offering or by the agents for any agency offering pursuant to the exercise
of a Piggyback Registration, the Participating Investor(s) will enter into an underwriting agreement with the Corporation and
such underwriters or agency agreement with such agents for such Distribution, such agreement to be satisfactory in substance and
form to the Participating Investor(s) and the Corporation and the underwriters or agents, each acting reasonably, and to contain
such representations and warranties by the Corporation and such other terms as are generally prevailing in agreements of these
types. The Participating Investor(s) shall be party to such underwriting agreement or agency agreement and may, at its option,
require that any or all of the representations and warranties by, and the other agreements on the part of, the Corporation to
and for the benefit of such underwriters or agents shall also be made to and for the benefit of the Participating Investor(s)
and that any or all of the conditions precedent to the obligations of such underwriters or agents under such underwriting agreement
or agency agreement be conditions precedent to the obligations of the Participating Investor(s). The Participating Investor(s)
shall not be required to make any representations or warranties to or agreements with the Corporation or the underwriters or agents
other than representations, warranties or agreements regarding such Participating Investor(s) and the Corporation’s intended
method of distribution and any other representation required by applicable Laws or as are generally prevailing in such underwriting
or agency agreements for secondary offerings, as the case may be.

 

    	 

    	- 23 -

    

 

(b)
The underwriting agreement or agency agreement, as applicable, referred to in Section 7.5(a) will contain customary terms, including
an indemnity whereby in the event of the filing or distribution of an Offering Document under Applicable Securities Laws, the
Corporation will indemnify and hold harmless the Participating Investor(s) and each underwriter or agent involved in the distribution
of Registerable Securities thereunder, and each of their affiliates, directors, officers, employees, agents, shareholders and
limited partners against any losses, claims, expenses, damages or liabilities (including reasonable counsels’ fees and all
amounts paid in settlement of any investigation, order, litigation, proceeding or claim) (“Losses”), joint
or several, to which the Participating Investor(s) or such underwriter or agent or any of their affiliates, directors, officers,
employees, agents, shareholders or limited partners may become subject, insofar as such Losses (or actions in respect thereof),
arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any Offering
Document, or any amendment or supplement thereof, including in the documents incorporated therein by reference, or arise out of
or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary
to make the statements therein not misleading; provided, however, that the Corporation will not be liable in any such case
if and to the extent that any such Losses arise out of or are based upon an untrue statement or alleged untrue statement or omission
or alleged omission so made in conformity with information furnished by such Participating Investor(s), such underwriter or such
agent.

 

(c)
Each Participating Investor will indemnify and hold harmless the Corporation, its directors, officers, employees and agents to
the same extent as the indemnity referred to in Section 7.5(b), but only with respect to information regarding such Participating
Investor furnished in writing by or on behalf of such Participating Investor to the Corporation expressly for inclusion in any
Offering Document. Notwithstanding anything to the contrary contained herein, a Participating Investor’s obligations under
the indemnity set out in this Section 7.5(c) shall be limited to a maximum aggregate amount equal to the net proceeds of the Distribution
received by the Participating Investor pursuant to such Distribution.

 

(d)
If reasonably requested by the underwriters or agents in connection with any underwritten offering or agency offering made pursuant
to the exercise of a Piggyback Registration, the Corporation shall cooperate with all reasonable requests made by the lead underwriter
of such underwritten offering or lead agent of such agency offering respecting the attendance of the Corporation at road shows
and participation of the Corporation in any efforts relating to the distribution and sale of the Piggyback Registrable Securities.

 

ARTICLE
8 

COVENANTS
OF THE INVESTORS

 

	8.1	Dispositions

 

For
a period of 24 months after the date of this Agreement, provided that an Investor’s Ownership Percentage is at least 5%:

 

	 	(a)	such
    Investor shall not, without the prior written consent of the Corporation, Transfer or agree to Transfer any of the Common
    Shares acquired as a result of the Acquisition Transaction or the Financing Transaction, as applicable, including on the exercise
    of Warrants (the “Transaction Securities”), in one or a series of transactions, directly or indirectly,
    to any Person that is not an Affiliate of such Investor (the “Transferring Investor”), without first complying
    with Sections 8.1(b) and 8.1(c);
	 	 	 
	 	(b)	the
    Transferring Investor shall give written notice (the “Disposition Notice”) to the Corporation of any proposed
    Transfer of Transaction Securities to any Person that is not an Affiliate of such Investor, which Disposition Notice shall
    specify the total number and type of Transaction Securities proposed to be Transferred by such Investor (the “Proposed
    Disposition Securities”);

 

    	 

    	- 24 -

    

 

	 	(c)	for
    a period of seven days after receipt of the Disposition Notice (the “Placement Period”), the Corporation
    shall have the right to seek and arrange for one or more purchasers to offer to purchase all, but not less than all, of the
    Proposed Disposition Securities at a price, and on such other terms and conditions, that are acceptable to the Transferring
    Investor, in its sole discretion (an “Acceptable Placement”); and
	 	 	 
	 	(d)	if
    the Corporation does not arrange an Acceptable Placement within the Placement Period or if the Acceptable Placement is not
    completed on the agreed terms, then such Investor shall be permitted to Transfer the Proposed Disposition Securities to any
    Person on terms and conditions acceptable to such Investor, acting in its sole discretion.

 

Except
as otherwise provided in this Section 8.1, there shall be no restrictions on the Transfer of (i) the Transaction Securities held
by the Investors, other than such restrictions as may be imposed by applicable Laws or (ii) any securities issued to an Investor
pursuant to any exercise of its Participation Right or Top-up Right.

 

	8.2	Share
    Consolidation

 

Each
Investor agrees that it shall take any and all actions reasonably required in order to vote any Common Shares owned by it or any
of its Affiliates, or over which it exercises control or direction, in favour of any share consolidation proposed by management
of the Corporation at any meeting of Shareholders where such share consolidation is to be voted upon.

 

ARTICLE
9 

MISCELLANEOUS

 

	9.1	Termination

 

This
Agreement shall terminate with respect to an Investor and all rights and obligations hereunder shall cease to apply to such Investor
immediately upon such Investor ceasing to have a 5% Ownership Percentage.

 

	9.2	Governing
    Law; Specific Performance

 

(a)
This Agreement shall be governed by and construed in accordance with the Laws of the Province of Ontario and the federal Laws
applicable therein.

 

(b)
Each of the Parties irrevocably and unconditionally: (i) submits to the non-exclusive jurisdiction of the courts of the Province
of Ontario over any action or proceeding arising out of or relating to this Agreement, (ii) waives any objection that it might
otherwise be entitled to assert to the jurisdiction of such courts; and (iii) agrees not to assert that such courts are not a
convenient forum for the determination of any such action or proceeding.

 

(c)
It is agreed and understood that monetary damages would not adequately compensate an injured Party for the breach of this Agreement
by any Party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement
shall be the proper subject of a temporary or permanent injunction or restraining order, without bond. Further, each Party hereto
waives any claim or defense that there is an adequate remedy at Law for such breach or threatened breach.

 

    	 

    	- 25 -

    

 

	9.3	Statements
    as to Factual Matters

 

All
statements as to factual matters contained in the recitals hereto, or in any certificate or other instrument delivered pursuant
hereto in connection with the transactions contemplated hereby shall be deemed to be representations and warranties under this
Agreement.

 

	9.4	Amendments

 

No
amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure therefrom, shall in any event
be effective unless the same shall be in writing and executed by all Parties hereto.

 

	9.5	Successors
    and Assigns

 

The
rights provided by this Agreement may only be assigned, in whole or in part, by an Investor to a Permitted Assign without the
prior approval of the other Parties. Upon such assignment, the Permitted Assign shall be treated as the Investor that made such
assignment for all purposes under this Agreement, except that any entitlements to notice and any entitlements to furnished documentation
pursuant to this Agreement shall be satisfied by the Corporation through delivery to the transferring Investor on behalf of the
Permitted Assign. Except as otherwise expressly provided, the provisions prescribed herein shall inure to the benefit of, and
be binding upon, the successors, assigns, heirs, executors, and administrators of the Parties and Permitted Assigns hereto.

 

	9.6	Entire
    Agreement

 

This
Agreement and the other agreements and documents delivered pursuant hereto constitute the full and entire understanding and agreement
between the Parties with regard to the subject hereof and no Party shall be liable or bound to any other in any manner by any
representations, warranties, covenants and agreements except as specifically set forth herein and therein.

 

	9.7	Severability

 

If
any provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal or unenforceable in
any respect, all other provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic
or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon
a determination that any term or other provision of this Agreement is invalid, illegal or incapable of being enforced, the Parties
shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible.

 

	9.8	Delays
    or Omissions

 

It
is agreed that no delay or omission to exercise any right, power, or remedy accruing to any holder, upon any breach, default or
noncompliance of any Party under this Agreement shall impair any such right, power, or remedy, nor shall it be construed to be
a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach, default or noncompliance
thereafter occurring. It is further agreed that any waiver, permit, consent, or approval of any kind or character on any Party’s
part of any breach, default or noncompliance under the Agreement or any waiver on such Party’s part of any provisions or
conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in such writing.
All remedies, either under this Agreement, by Law, or otherwise afforded to holders, shall be cumulative and not alternative.

 

    	 

    	- 26 -

    

 

	9.9	Press
    Releases

 

The
Corporation will provide the Investors with a reasonable opportunity to review and comment on each press release of the Corporation
relating to or referencing, in any way, this Agreement or the transactions contemplated herein, prior to the issuance thereof
and incorporate any comments provided by the Investors, to the extent commercially reasonable and provided in a timely manner
so as to not impede the Corporation’s timely disclosure obligations under Applicable Securities Laws and as may be commercially
negotiated in connection with any Offering or Distribution giving rise to rights under this Agreement.

 

	9.10	Further
    Assurances

 

Each
of the Parties shall, from time to time hereafter and upon any reasonable request of the others, promptly do, execute, deliver
or cause to be done, executed and delivered all further acts, documents and things as may be required or necessary for the purposes
of giving effect to this Agreement.

 

	9.11	Filing
    of Agreement

 

The
Parties hereby agree that if the Corporation determines that Applicable Securities Laws require it to file this Agreement (and
any amendment hereto) on the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval at
www.SEDAR.com or the SEC’s Electronic Data Gathering, Analysis, and Retrieval system at www.sec.gov/edgar,
the Investors shall be given prior notice of such filing and the opportunity to review and provide comments on the redactions
to this Agreement (or of any amendment hereto) that should be made prior to such filing by the Corporation, and the Corporation
shall file such redacted version only after incorporating any commercially reasonable comments of the Investors.

 

    	 

    	- 27 -

    

 

	9.12	Notices

 

Any
notice under this Agreement shall be given in writing and either delivered, sent by electronic means (including facsimile transmission
or email) or mailed by prepaid registered post to the Party to receive such notice at the address, facsimile number or email address
indicated below:

 

	 	(a)	to
    the Corporation at:
	 	 	 	 
	 		Bullfrog
    Gold Corp.
	 	 	Suite
    555 – 999 Canada Place
	 	 	Vancouver,
    BC V6C 3E1
	 	 	 	 
	 	 	Attention:	Purni
    Parikh
	 	 	Facsimile:	 
	 	 	Email:	 
	 	 	 	 
	 	 	with
    a copy (which shall not constitute notice) to:
	 	 	 	 
	 	 	Cassels
    Brock & Blackwell LLP
	 	 	Suite
    2200, HSBC Building, 885 West Georgia Street
	 	 	Vancouver,
    BC V6C 3E8
	 	 	 	 
	 	 	Attention:	Jennifer
    Traub
	 	 	Facsimile:	 
	 	 	Email:	 
	 	 	 	 
	 	(b)	to
    Barrick at:
	 	 	 	 
	 	 	Barrick
    Gold Corporation
	 	 	TD
    Canada Trust Tower
	 	 	161
    Bay Street, Suite 3700
	 	 	Toronto,
    ON M5J 2S1
	 	 	Canada
	 	 	 	  
	 	 	Attention:	Kevin
    Thomson
	 	 	Facsimile:	 
	 	 	Email:	 
	 	 	 	 
	 	 	-
    and -	 
	 	 	 	 
	 	 	Attention:
    	General
    Counsel
	 	 	Facsimile:	 
	 	 	Email:	 
	 	 	 	 
	 	 	with
    a copy (which shall not constitute notice) to:
	 	 	 	 
	 	 	Davies
    Ward Phillips & Vineberg LLP
	 	 	155
    Wellington Street West
	 	 	Toronto,
    ON M5V 3J7
	 	 	 	 
	 	 	Attention:	Melanie
    Shishler
	 	 	Facsimile:	 
	 	 	Email:	 

 

    	 

    	- 28 -

    

 

	 	(c)	to
    Augusta at:
	 	 	 	 
	 	 	Augusta
    Investments Inc.
	 	 	Suite
    555 – 999 Canada Place
	 	 	Vancouver,
    BC V6C 3E1
	 	 	 	 
	 	 	Attention:	Purni
    Parikh
	 	 	Facsimile:	 
	 	 	Email:	 
	 	 	 	 
	 	 	with
    a copy (which shall not constitute notice) to:
	 	 	 	 
	 	 	Cassels
    Brock & Blackwell LLP
	 	 	Suite
    2200, HSBC Building, 885 West Georgia Street
	 	 	Vancouver,
    BC V6C 3E8
	 	 	 	 
	 	 	Attention:	Jennifer
    Traub
	 	 	Facsimile:	 
	 	 	Email:	 

 

or
such other address, facsimile number or email address as such Party may hereafter designate by notice in writing to the other
Parties. If a notice is delivered, it shall be effective from the date of delivery; if such notice is sent by electronic means
during normal business hours of the addressee, it shall be effective on the Business Day such notice is sent and, if not sent
during normal business hours of the addressee, then on the Business Day following the date such notice is sent; and if such notice
is sent by mail, it shall be effective seven Business Days following the date of mailing, excluding all days when normal mail
service is interrupted.

 

	9.13	Counterparts

 

This
Agreement may be executed in any number of counterparts (whether by fax or other electronic means), each of which shall be deemed
an original, but all of which together shall constitute one instrument.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Investor Rights Agreement as of the date set forth above.

 

	 	BULLFROG
    GOLD CORP.
	 	 
	 	by	         
	 	Name:	
	 	Title:	

 

	 	BARRICK
    GOLD CORPORATION
	 	 
	 	by	                
	 	Name:	
	 	Title:	
	 	 	 
	 	 	 
	 	Name:	
	 	Title:	

 

	 	AUGUSTA
    INVESTMENTS INC.
	 	 
	 	by	    
	 	Name:	            
	 	Title:	

 

Signature
Page – Investor Rights Agreement

 

    	 

    	 

    

 

Schedule
A

FORM
OF INDEMNITY AGREEMENT

 

Please
see attached.

 

    	 

    	 

    

 

Schedule
B

REGISTRATION
PROCEDURES

 

	1.1	Registration
    Procedures

 

(a)
Upon receipt of a Piggyback Registration Notice from a Participating Investor pursuant to Article 7, the Corporation will use
its commercially reasonable efforts to effect the qualification for the offer and sale or other disposition or Distribution of
Piggyback Registrable Securities and pursuant thereto the Corporation will use its commercially reasonable efforts to as expeditiously
as possible:

 

	 	(i)	in
    any event within 60 days of receipt of any Piggyback Registration Notice, prepare and file with the Canadian Securities Authorities
    or the SEC, as applicable, to the extent required, an Offering Document relating to the applicable Piggyback Registration
    and any other documents reasonably necessary, including amendments and supplements in respect of such documents, to permit
    the offer and sale or other disposition or Distribution and, in so doing, act as expeditiously as is practicable and in good
    faith to promptly settle all comments, deficiencies and obtain those receipts and clearances and provide those undertakings
    and commitments as may be reasonably required by the Canadian Securities Authorities or the SEC, as applicable, all as may
    be necessary to permit the offer and sale or other disposition or Distribution of such securities in compliance with Applicable
    Securities Laws;
	 	 	 
	 	(ii)	to
    the extent applicable, keep the Offering Document effective under Applicable Securities Laws until the Participating Investor(s)
    and the underwriter(s) or agent(s), as applicable, have completed the sale or Distribution described in the Offering Document
    but not longer than 60 days from the date of the last Offering Document in respect of such sale or Distribution;
	 	 	 
	 	(iii)	notify
    the Participating Investor(s) and the lead underwriter(s) or lead agent(s), if any, and (if requested) confirm such advice
    in writing, as soon as practicable after notice thereof is received by the Corporation (A) when the Offering Document or any
    amendment thereto has been filed, accepted or receipted or otherwise finalized for distribution to purchasers or potential
    purchasers, and furnish the applicable Investor(s) and lead underwriter(s) or lead agent(s) with copies thereof, (B) of any
    comments on or request by the Canadian Securities Authorities or the SEC, as applicable, for amendments to the Offering Document
    or for additional information, (C) of the issuance by the Canadian Securities Authorities or the SEC of any stop order or
    cease trade order relating to the Offering Document or any order preventing or suspending the use of any Offering Document
    or the initiation or threatening of any proceedings for such purposes, and (D) of the receipt by the Corporation of any notification
    with respect to the suspension of the qualification of the Piggyback Registrable Securities for offering or sale in any jurisdiction
    or the initiation or threatening of any proceeding for such purpose;

 

    	 

    	- 2 -

    

 

	 	(iv)	notify
    the Participating Investor(s) and the lead underwriter(s) or lead agent(s), if any, (A) at any time the representations and
    warranties contemplated by any underwriting agreement, securities/sale agreement, or other similar agreement, relating to
    the Distribution shall cease to be true and correct in all material respects, and (B) of the happening of any event as a result
    of which the Offering Document contains any untrue statement of a material fact or omits to state a material fact required
    to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they
    are made or, if for any other reason it will be necessary during such time period to amend or supplement the Offering Document
    in order to comply with Applicable Securities Laws and, in either case as promptly as practicable thereafter, to the extent
    required under Applicable Securities Laws, prepare and file with the Canadian Securities Authorities or the SEC, as applicable,
    and furnish without charge to the applicable Investor(s) and the lead underwriter(s) or lead agent(s), if any, a supplement
    or amendment to such Offering Document, which will correct such statement or omission or effect such compliance;
	 	 	 
	 	(v)	make
    every commercially reasonable effort to prevent the issuance of any stop order, cease trade order or other order suspending
    the use of any Offering Document, as applicable, or suspending any qualification of the Piggyback Registrable Securities covered
    by the Offering Document, and, if any such order is issued, to obtain the withdrawal of any such order;
	 	 	 
	 	(vi)	provide
    the Participating Investor(s) and its counsel, with an opportunity to review, and provide comments to the Corporation on the
    Offering Document and any such amendment or supplement; and upon finalization thereof, furnish to the Participating Investor(s),
    and each lead underwriter or lead agent, if any, without charge, one executed copy of the Offering Document and any amendment
    or supplement thereto to the extent such Offering Document is required to be executed pursuant to Applicable Securities Laws;
	 	 	 
	 	(vii)	deliver
    to the Participating Investor(s) and the underwriter(s) for an underwritten offering or the agent(s) for an agency offering,
    if any, without charge, as many commercial copies of the Offering Document and any amendment or supplement thereto as such
    Persons may reasonably request (it being understood that the Corporation consents to the use of the Offering Document and
    any amendment or supplement thereto by the applicable Investor(s) and the underwriter(s) or agent(s), if any, in connection
    with the Distribution of the Piggyback Registrable Securities covered by the Offering Document and any amendment or supplement
    thereto) and such other documents as the applicable Investor(s) may reasonably request in order to facilitate the disposition
    of the Piggyback Registrable Securities by such Person;
	 	 	 
	 	(viii)	use
    its commercially reasonable efforts and provide such cooperation to the Participating Investor(s), the lead underwriter(s)
    or the lead agent(s), if any, and their respective counsel in connection with the offer and sale of such Piggyback Registrable
    Securities in accordance with the plan of distribution in the Offering Document and in compliance with the Applicable Securities
    Laws as any such Person, underwriter or agent reasonably requests in writing;

 

    	 

    	- 3 -

    

 

	 	(ix)	in
    connection with any underwritten offering or agency offering, enter into customary agreements, including an underwriting agreement
    or agency agreement, as applicable, in accordance with Section 7.5, and furnish to the underwriter(s) or agent(s) and the
    Participating Investor(s), among other things:

 

	 	(A)	an
    opinion of external legal counsel representing the Corporation for the purposes of such Registration, addressed to the underwriter(s)
    or agent(s) and to the Participating Investor(s), in form and substance as is customarily given by company counsel to the
    underwriter(s) in an underwritten public offering or agent(s) in an agency public offering; and
	 	 	 
	 	(B)	“comfort
    letters” dated such dates from the independent public accountants as auditor retained by the Corporation, addressed
    to the underwriter(s) or agent(s) and to the Participating Investor(s), in form and substance as is customarily given in an
    underwritten or agency public offering, as applicable, provided that the applicable Investor(s) have made such representations
    and furnished such undertakings as the auditor may reasonably require;

 

	 	(x)	furnish
    to the Participating Investor(s) and the lead underwriter(s) or lead agent(s), if any, and such other Persons as the applicable
    Investor(s) may reasonably specify, such corporate certificates, satisfactory to the Participating Investor(s) acting reasonably,
    as are customarily furnished in securities offerings, and, in each case, covering substantially the same matters as are customarily
    covered in such documents in the relevant jurisdictions and such other matters as the Participating Investor(s) may reasonably
    request;
	 	 	 
	 	(xi)	use
    its commercially reasonable efforts to cause all Piggyback Registrable Securities covered by the Offering Document which are
    Common Shares to be listed and posted for trading on each securities exchange or automated quotation system on which the Common
    Shares are then listed or posted for trading, to the extent not already listed or posted for trading;
	 	 	 
	 	(xii)	prior
    to the filing of any document which is to be incorporated by reference into the Offering Document, provide copies of such
    document to counsel for the Participating Investor(s) and to the lead underwriter(s) or lead agent(s), if any, and make the
    Corporation’s representatives reasonably available for discussion of such document and make such changes in such document
    concerning the Participating Investor(s) prior to the filing thereof as counsel for the Participating Investor(s) or underwriter(s)
    or agent(s) may reasonably request;

 

    	 

    	- 4 -

    

 

	 	(xiii)	cooperate
    with the Participating Investor(s) and the lead underwriter(s) or lead agent(s), if any, to facilitate the timely preparation
    and delivery of certificates not bearing any restrictive legends representing the Piggyback Registrable Securities, if applicable,
    to be sold, and cause such Piggyback Registrable Securities to be issued in such denominations and registered in such names
    in accordance with the underwriting agreement or the agency agreement prior to any sale of Piggyback Registrable Securities
    to the underwriter(s) or agent(s) or, if not an underwritten or agency offering, in accordance with the instructions of the
    sellers of Piggyback Registrable Securities at least three Business Days prior to any sale of Piggyback Registrable Securities
    and instruct any transfer agent and registrar of Piggyback Registrable Securities to release any stop transfer orders in respect
    thereof at or prior to the closing of such purchase and sale;
	 	 	 
	 	(xiv)	take
    all such other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition
    of such Piggyback Registrable Securities; and
	 	 	 
	 	(xv)	take
    such other actions and execute and deliver such other documents as may be reasonably necessary to give full effect to the
    rights of the Investors under this Agreement.

 

(b)
In connection with each Piggyback Registration in which the Participating Investor(s) sells Piggyback Registrable Securities,
the Corporation may require the Participating Investor(s) to furnish to the Corporation such information regarding the Distribution
and such other information relating to the Participating Investor(s) and its ownership of Piggyback Registrable Securities as
the Corporation may from time to time reasonably request in writing. The Participating Investor(s) agrees to furnish such information
to the Corporation and to cooperate with the Corporation as necessary to enable the Corporation to comply with the provisions
of this Agreement. Each Participating Investor shall notify the Corporation immediately upon the occurrence of any event which
to its knowledge results in any Offering Document or any amendment or supplement thereto including an untrue statement of a material
fact or omitting to state a material fact required to be stated therein or necessary to make the statements therein not misleading
in light of the circumstances under which they are made.

 

	1.2	Investor’s
    Rights of Withdrawal

 

(a)
The Participating Investor(s) shall have the right to withdraw any request for inclusion of its Piggyback Registrable Securities
in any Offering Document pursuant to Section 7.1 without incurring any liability to the Corporation or any other Person by giving
written notice to the Corporation of its request to withdraw; provided, however, that:

 

	 	(i)	such
    request must be made in writing five Business Days prior to the execution of the underwriting agreement or the agency agreement
    (or such other similar agreement), as applicable, with respect to such Distribution or the Business Day prior to the execution
    of a bought deal letter in respect of the Distribution, if applicable; and
	 	 	 
	 	(ii)	such
    withdrawal will be irrevocable and, after making such withdrawal, such Participating Investor will no longer have any right
    to include its Piggyback Registrable Securities in the Distribution in respect of which such withdrawal was made.

 

(b)
Provided that a Participating Investor withdraws all of its Piggyback Registrable Securities from a Piggyback Registration in
accordance with Section 1.2(a) of this Schedule B prior to the filing of a preliminary Prospectus or Registration Statement, such
Participating Investor will be deemed to not have participated in or requested such Piggyback Registration.

 

(c)
Notwithstanding Section 1.2(a)(i) of this Schedule B, if a Participating Investor withdraws its request for inclusion of its Piggyback
Registrable Securities from a Piggyback Registration at any time after having learned of a material adverse change in the condition,
business or prospects of the Corporation, such Participating Investor will not be deemed to have participated in or requested
such Piggyback Registration.Document

EXHIBIT 10.1

EMPLOYMENT AGREEMENT
This Employment Agreement (the “Agreement”) is entered into as of October 27, 2020, by and between Noodles & Company, a Delaware corporation (the “Company”), and Dave Boennighausen, an individual (the “Executive”).

INTRODUCTION
1.    The Company wishes to continue to employ the Executive as its Chief Executive Officer.
2.    The Executive desires to continue to be employed by the Company, pursuant to the terms and conditions set forth herein.
AGREEMENT
In consideration of the premises and mutual promises herein below set forth, the parties hereby agree as follows:
1.Employment Period
The term of the Executive’s employment by the Company pursuant to this Agreement (the “Employment Period”) shall commence on October 27, 2020 (the “Effective Date”) and shall continue until terminated pursuant to Section 5.
2.Employment
(a)Title;  Duties.  The Executive shall serve as Chief Executive Officer of the Company during the Employment Period, and the Executive hereby accepts such employment.  The duties assigned and authority granted to the Executive shall be as determined by the Company’s Board of Directors (the “Board”) from time to time, and such duties shall be consistent with the Executive’s position and status as Chief Executive Officer.  The Executive also shall serve as a member of the Board during the Employment Period.  The Executive agrees to perform his duties for the Company diligently, competently, and in a good faith manner. 
(b)Exclusive Employment.  During the Employment Period, the Executive shall devote his full business time to his duties and responsibilities set forth above, and may not, without the prior written consent of the Board or its designee, operate, participate in the management, board of directors, operations or control of, or act as an employee, officer, consultant, agent or representative of, any type of business or service (other than as an employee of the Company); provided, however, that the Executive may (i) engage in civic and charitable activities, (ii) participate in industry associations, deliver lectures or fulfill speaking engagements, (iii) make and maintain outside personal investments, and (iv) serve on one board of directors consented to in writing by the Board (which consent shall not be unreasonably 

withheld or delayed), provided that none of the foregoing activities and service significantly interfere with the Executive’s performance of his duties hereunder.
3.Compensation
(a)Base Salary.  The Executive shall be entitled to receive a base salary from the Company during the Employment Period at the rate of $600,000 per year.  The Executive’s base salary shall be reviewed annually by the Board or the Compensation Committee of the Board (the “Committee”), and may be increased (but not decreased).  The base salary shall be paid in accordance with the Company’s payroll procedures as in effect from time-to-time.
(b)Annual Bonus.  The Executive shall be eligible to receive an annual bonus  (the “Annual Bonus”) for each calendar year during the Employment Period in an amount targeted at eighty-five percent (85%) of the Executive’s then-effective annual base salary, contingent upon the Executive achieving certain targeted goals that will be established by the Board or the Committee and prorated for partial years of employment.  Any Annual Bonus to which the Executive may be entitled under this Section 3(b) shall be paid in cash in the form of a lump sum as soon as practicable following the completion of the financial audit for the applicable fiscal year, and in no event later than April 30 after the end of the fiscal year to which such Annual Bonus relates.  Whether and to what degree the Executive has met the performance goals described in this Section 3(b) shall be determined by the Board in its reasonable discretion in accordance with the applicable bonus/performance goals document for that bonus year described in the first sentence of this Section 3(b).
(c)Equity Grants.   Executive shall be eligible to receive equity grants during the Employment Period as determined by the Compensation Committee of the Board in its sole discretion.
4.Other Benefits; Location
(a)Insurance.  During the Employment Period, the Executive and the Executive’s dependents shall be eligible for coverage under the group insurance plans made available from time to time to Company’s executive employees. The premiums for the coverage of the Executive and the Executive’s dependents under that plan shall be paid by the Company pursuant to the formula in place for other executive employees covered by Company’s group insurance plans.
(b)Savings and Retirement Plans.  During the Employment Period, the Executive shall be entitled to participate in all other savings and retirement plans, practices, policies and programs, in each case on terms and conditions no less favorable than the terms and conditions generally applicable to the Company’s other executive employees.
(c)Vacation.  During the Employment Period, the Executive shall be entitled to an annual vacation pursuant to the Company’s Time Away From Work policy, as in effect from time to time.
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(d)Reimbursement of Expenses.  The Company shall promptly reimburse the Executive for all reasonable out of pocket travel, entertainment, and other expenses incurred or paid by the Executive in connection with, or related to, the performance of his responsibilities or services under this Agreement upon the submission of appropriate documentation pursuant to the Company’s policies in effect from time to time.
5.Termination
(a)Termination by the Company with Cause.  Upon written notice to the Executive, the Company may terminate the Executive’s employment for Cause (as defined below).  In the event that the Executive’s employment is terminated for Cause, the Executive shall receive from the Company payments for (i) any and all earned and unpaid portion of his then-effective base salary (on or before the first regular payroll date following the Date of Termination in accordance with applicable law); (ii) any and all unreimbursed business expenses (in accordance with the Company’s reimbursement policy); (iii) any and all accrued and unused vacation time through the Date of Termination (on or before the first regular payroll date following the Date of Termination in accordance with applicable law); and (iv) any other benefits the Executive is entitled to receive as of the Date of Termination under the employee benefit plans of the Company, less standard withholdings (items (i) through (iv) are hereafter referred to as “Accrued Benefits”).  Except for the Accrued Benefits or as required by law, after the Date of Termination, the Company shall have no obligation to make any other payment, including severance or other compensation of any kind on account of the Executive’s termination of employment or to make any payment in lieu of notice to the Executive in the event of a termination pursuant to this Section 5(a).  Except as required by law or as otherwise provided herein, all benefits provided by the Company to the Executive under this Agreement or otherwise shall cease as of the Date of Termination in the event of a termination pursuant to this Section 5(a).
(b)Termination by the Company Without Cause.  The Company may, at any time and without prior written notice, terminate the Executive’s employment without Cause.   In the event that the Executive’s employment with the Company is terminated without Cause, the Executive shall receive the Accrued Benefits and any unpaid portion of the Annual Bonus from a prior year (payable when other senior executives receive their annual bonuses for such year, and in no event later than March 15 of the year following the year for which the Annual Bonus was earned).  In addition, the Executive shall be entitled to receive from the Company the following:  (i) severance payments totaling (A) if the termination does not occur during the CIC Protection Period, eighteen (18) months of base salary, paid in equal installments according to the Company’s regular payroll schedule over the eighteen (18) months following the Date of Termination (the “Severance Period”), or (B) if the termination occurs during the CIC Protection Period, twenty-four (24) months of base salary, paid in a lump sum within five (5) days following the release of claims specified in Exhibit A becoming irrevocable, (ii) (A) if the termination does not occur during the CIC Protection Period, a pro rata portion of the Annual Bonus for the year in which the Date of Termination occurs, based on the number of full months employed in such fiscal year and actual performance for such year, paid when other senior executives receive their annual bonuses for such year (and in no event later than March 15 of the 
3

year following the year in which the Date of Termination occurs), or (B) if the termination occurs during the CIC Protection Period, a pro rata Target Bonus (with the proration determined in the same manner as in clause (ii)(A)), paid in a lump sum within five (5) days following the release of claims specified in Exhibit A becoming irrevocable; and (iii) a cash payment equal to the “COBRA” premium for Executive’s elected coverage as of the Date of Termination for eighteen (18) months, payable in a lump sum within five (5) days following the release of claims specified in Exhibit A becoming irrevocable.   The Executive’s entitlement to the severance payments and benefits in the foregoing sentence is conditioned on  (A) the Executive’s executing and delivering to the Company of a release of claims substantially in the form attached hereto as Exhibit A within forty-five (45) days following the Date of Termination, and on such release becoming effective, and (B) the Executive’s continued compliance with the restrictive covenants set forth in Sections 6, 7 and 8; provided, that if such forty-five (45) day period begins in one taxable year and ends in the following taxable year, the payments described in (i) of the preceding sentence shall commence in the second taxable year (and any payments that would have been made in the first taxable year shall be paid in a lump sum at the time payments commence pursuant hereto).  Except as specifically provided in this Section 5(b) or in another section of this Agreement, or except as required by law, all benefits provided by the Company to the Executive under this Agreement or otherwise shall cease as of the Date of Termination in the event of a termination pursuant to this Section 5(b).  For the avoidance of doubt, a Change in Control shall not, standing alone, make the Executive eligible for any severance benefits pursuant to this Section 5(b) or Section 5(c); rather, this Agreement includes a “double-trigger” pursuant to which a termination without Cause or a resignation for Good Reason is a prerequisite for any such benefits following a Change in Control.
(c)Termination by the Executive for Good Reason.  The Executive may voluntarily terminate his employment with the Company and receive the severance payments, bonus payments, and other benefits detailed in Section 5(b) following the occurrence of an event constituting Good Reason (as defined below) that has not been cured by the Company within the timeframe specified in the definition of Good Reason.
(d)Voluntary Termination.  If the Executive terminates employment with the Company without Good Reason, the Executive agrees to provide the Company with thirty (30) days’ prior written notice.  In the event that the Executive’s employment is terminated under this Section 5(d), the Executive shall receive from the Company payment for all Accrued Benefits described in Section 5(a) above at the times specified in Section 5(a) above.  Except as required by law, after the Date of Termination, the Company shall have no obligation to make any other payment, including severance or other compensation, of any kind to the Executive on account of the Executive’s termination of employment pursuant to this Section 5(d).
(e)Termination Upon Death or Disability.  If the Executive’s employment is terminated as a result of death or Disability prior to the expiration of the Employment Period, the Executive (or the Executive’s estate, or other designated beneficiary(s) as shown in the records of the Company in the case of death) shall be entitled to receive from the Company (i) payment for the Accrued Benefits described in Section 5(a) above at the times specified in Section 5(a) above and any unpaid portion of the Annual Bonus from a prior year (payable when other senior 
4

executives receive their annual bonuses for such year, and in no event later than March 15 of the year following the year for which the Annual Bonus was earned), and (ii) a portion of the Annual Bonus that the Executive would have been eligible to receive for days employed by the Company in the year in which the Executive’s death or Disability occurs, determined by multiplying (x) the Annual Bonus based on the actual level of achievement of the applicable performance goals for such year, by (y) a fraction, the numerator of which is the number of days up to and including the Date of Termination in the year in which the Date of Termination occurs, and the denominator of which is 365, such amount to be paid in the same time and the same form as the Annual Bonus otherwise would be paid.  Except as required by law, after the Date of Termination, the Company shall have no obligation to make any other payment, including severance or other compensation, of any kind to the Executive (or the Executive’s estate, or other designated beneficiary(s), as applicable) upon a termination of employment by death or Disability.
(f)Certain Definitions.  For purposes of this Agreement, the following terms shall have the meanings set forth below.
(A)“Cause” shall mean (i) the Executive breaches this Agreement or any material Company policy or procedure that, if curable, is not cured by the Executive to the reasonable satisfaction of the Board within 10 days following the Company notifying the Executive of such breach; (ii) the Executive commits a felony or any other crime involving dishonesty or moral turpitude; (iii) the Executive engages in fraudulent, dishonest or illegal conduct in the performance of services for or on behalf of Company; (iv) the Executive fails to follow lawful directions of the Board or the person to whom the Executive reports; (v) a harassment allegation against the Executive that the Board reasonably determines to be credible; (vi) any willful misconduct or gross negligence by the Executive with respect to his performance of duties for the Company; (vii) the Executive materially violates any material Company policy (including with respect to discrimination, harassment, data security and retaliation); or (viii) the Executive reports to or is present at work under the influence of alcohol or engages in the unlawful use or possession of drugs or illegal drugs (whether or not in the workplace).
(B)“Change in Control” means the occurrence of any of the following events: (i) during any 12-month period, the members of the Board (the “Incumbent Directors”) cease for any reason other than due to death or disability to constitute at least a majority of the members of the Board, provided that any director whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least a majority of the members of the Board who are at the time Incumbent Directors shall be considered an Incumbent Director, other than any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board; (ii) the acquisition or ownership by any individual, entity or "group" (within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934 (the “Exchange Act”), other than the Company or any of its affiliates or subsidiaries, or any employee benefit plan (or related trust) sponsored or maintained by the Company or any of its 
5

Affiliates or Subsidiaries, of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of the combined voting power of the Company's then outstanding voting securities entitled to vote generally in the election of directors (excluding for this purpose any ownership or additional acquisition of Common Stock by any person (or any affiliate thereof) that owns more than 10% of the Common Stock as of the Effective Date); (iii) the merger, consolidation or other similar transaction of the Company, as a result of which the stockholders of the Company immediately prior to such merger, consolidation or other transaction, do not, immediately thereafter, beneficially own, directly or indirectly, more than 50% of the combined voting power of the voting securities entitled to vote generally in the election of directors of the merged, consolidated or other surviving company; or (iv) the sale, transfer or other disposition of all or substantially all of the assets of the Company to one or more persons or entities that are not, immediately prior to such sale, transfer or other disposition, affiliates of the Company.  However, a “Change in Control” shall not be deemed to occur if the Company undergoes a bankruptcy, liquidation or reorganization under the United States Bankruptcy Code.
(C)“CIC Protection Period” means the period beginning sixty (60) days prior to a Change in Control and ending twelve (12) months following such Change in Control. 
(D)“Date of Termination” shall mean (i) if the Executive is terminated by the Company for Disability, thirty (30) days after written notice of termination is given to the Executive (provided that the Executive shall not have returned to the performance of his duties on a full-time basis during such 30-day period);  (ii) if the Executive’s employment is terminated by the Company for any other reason, the date on which a written notice of termination is given or such other date specified in the notice, specifying in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment is given, and in the case of termination for Cause, after compliance with the notice and cure provisions in the definition of Cause; (iii) if the Executive terminates employment for Good Reason, the date of the Executive’s resignation;  provided that the notice and cure provisions in the definition of Good Reason have been complied with; (iv) if the Executive terminates employment for other than a Good Reason, the date specified in the Executive’s notice in compliance with Section 5(f); or (v) in the event of the Executive’s death, the date of death.
(E)“Disability” shall mean the absence of the Executive from the Executive's duties with the Company on a full-time basis for 180 consecutive business days as a result of incapacity due to mental or physical illness, which is determined to be total and permanent by a physician selected by the Company or its insurers and reasonably acceptable to the Executive or the Executive's legal representative. 
(F)      “Good Reason” shall mean, in the absence of written consent of the Executive, (i) the Board requiring the Executive to relocate the Executive’s 
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principal place of employment by more than fifty (50) miles from its location as of the Effective Date, or (ii) only if occurring during the CIC Protection Period:  (A) the Executive’s removal from the position of Chief Executive Officer of the Company; (B) a temporary reduction in the annualized base salary or the target Annual Bonus (other than temporary reductions of no more than 10% in connection with such reductions applicable to other senior executives of the Company); or (C) a material breach by the Company of this Agreement.

If circumstances arise giving the Executive the right to terminate this Agreement for Good Reason, the Executive must within thirty (30) days notify the Company in writing of the existence of such circumstances, describing such circumstances with particularity and specifically citing this Section 5(f)(F), and the Company shall have thirty (30) days from receipt of such notice within which to investigate and remedy any such circumstances; if such circumstances exist and are not remedied within such 30-day period, then Executive shall thereafter have a period of thirty (30) days within which to exercise the right to terminate for Good Reason. If the Executive does not timely do so the right to terminate for Good Reason shall lapse and be deemed waived, and the Executive shall not thereafter have the right to terminate for Good Reason unless further circumstances occur giving rise independently to a right to terminate for Good Reason under this Section 5(f)(F).
(g)Notice of Termination.  Any termination of the Executive’s employment by the Company or by the Executive under this Section 5 (other than in the case of death) shall be communicated by a written notice (the “Notice of Termination”) to the other party hereto, indicating the specific termination provision in this Agreement relied upon, setting forth as appropriate in reasonable detail any facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated, and specifying a Date of Termination which notice shall be delivered within the time periods set forth in the various subsections of this Section 5, as applicable (the “Notice Period”);  provided, however, that the Company may pay to the Executive all base salary, benefits and other rights due to the Executive during the Notice Period instead of employing the Executive during such Notice Period.
(h)Resignation from All Positions.  Upon the Executive’s termination of employment for any reason, the Executive shall immediately resign from all other positions with the Company and its affiliates (including, to the extent applicable, as a member of the Board). 
6.Non-Competition; General Provisions Applicable to Restrictive Covenants
(a)Covenant not to Compete.  For the duration of the Employment Period and for six (6) months thereafter, the Executive shall not, directly or indirectly, own any interest in, manage, control, participate in, consult with, advise, render services for, or be employed in an executive, managerial or administrative capacity by (i) any entity engaged in the fast or quick-casual restaurant business or (ii) any other entity that engages in or plans to engage in a business that directly competes with the business of the Company, in each case within North America (a 
7

“Competing Business”).  Nothing herein shall prohibit the Executive from being a passive owner of not more than 5% of the outstanding stock of any class of a corporation which is publicly traded, so long as the Executive has no active participation in the business of such corporation. 
(b)Specific Performance.  The Executive recognizes and agrees that a violation by him of his obligations under this Section 6, or under Section 7, or subparts (a) or (d) of Section 8 may cause irreparable harm to the Company that would be difficult to quantify and that money damages may be inadequate.  As such, the Executive agrees that the Company shall have the right to seek injunctive relief (in addition to, and not in lieu of any other right or remedy that may be available to it) to prevent or restrain any such alleged violation without the necessity of posting a bond or other security and without the necessity of proving actual damages.  However, the foregoing shall not prevent the Executive from contesting the Company’s request for the issuance of any such injunction on the grounds that no violation or threatened violation of the aforementioned Sections has occurred and that the Company has not suffered irreparable harm.  If a court of competent jurisdiction determines that the Executive has violated the obligations of any covenant for a particular duration, then the Executive agrees that such covenant will be extended by that duration.
(c)Scope and Duration of Restrictions.  The Executive expressly agrees that the character, duration and geographical scope of the restrictions imposed under this Section 6, and under Section 7, and all of Section 8 are reasonable in light of the circumstances as they exist at the date upon which this Agreement has been executed.  However, should a determination nonetheless be made by a court of competent jurisdiction at a later date that the character, duration or geographical scope of any of the covenants contained herein is unreasonable in light of the circumstances as they then exist, then it is the intention of both the Executive and the Company that such covenant shall be construed by the court in such a manner as to impose only those restrictions on the conduct of the Executive which are reasonable in light of the circumstances as they then exist and necessary to assure the Company of the intended benefit of such covenant.
7.Confidentiality Covenants
The Executive acknowledges that the confidential business information generated by the Company and its subsidiaries, whether such information is written, oral or graphic, including, but not limited to, financial plans and records, marketing plans, business strategies and relationships with third parties, present and proposed products, present and proposed patent applications, trade secrets, information regarding customers and suppliers, strategic planning and systems and contractual terms obtained by the Executive while employed by the Company and its subsidiaries concerning the business or affairs of the Company or any subsidiary of the Company (collectively, the “Confidential Information”) is the property of the Company or such subsidiary.  The Executive agrees that he shall not disclose to any Person or use for the Executive’s own purposes any Confidential Information or any confidential or proprietary information of other persons in the possession of the Company and its subsidiaries (“Third Party Information”), without the prior written consent of the Board, unless and to the extent that (i) the Confidential Information or Third Party Information becomes generally known to and available for use by the 
8

public, other than as a result of the Executive’s acts or omissions or (ii) the disclosure of such Confidential Information is required by law, in which case the Executive shall give notice to and the opportunity to the Company to comment on the form of the disclosure and only the portion of Confidential Information that is required to be disclosed by law shall be disclosed.  In addition, nothing in this Section 7 or any other provision of this Agreement prohibits the Executive from voluntarily communicating, without notice to or approval by the Company, with any federal government agency about a potential violation of federal law or regulation.
Pursuant to 18 U.S.C. § 1833(b), Executive will not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret of the Company or any of its subsidiaries that—(i) is made—(A) in confidence to a Federal, State, or local government official, either directly or indirectly, or to Executive’s attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.  If Executive files a lawsuit for retaliation by the Company or any of its subsidiaries for reporting a suspected violation of law, Executive may disclose the trade secret to the Executive’s attorney and use the trade secret information in the court proceeding, if Executive files any document containing the trade secret under seal and does not disclose the trade secret except under court order.  Nothing in this Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section.
Nothing in the Agreement shall prohibit or restrict the Company or any of its subsidiaries, Executive or their respective attorneys from:  (i) making any disclosure of relevant and necessary information or documents in any action, investigation, or proceeding relating to Executive’s employment, or as required by law or legal process, including with respect to possible violations of law; (ii) participating, cooperating, or testifying in any action, investigation, or proceeding with, or providing information to, any governmental agency or legislative body, any self-regulatory organization, and/or pursuant to the Sarbanes-Oxley Act; or (iii) accepting any U.S. Securities and Exchange Commission awards.  In addition, nothing in this Agreement prohibits or restricts the Company or any of its subsidiaries or Executive from initiating communications with, or responding to any inquiry from, any regulatory or supervisory authority regarding any good faith concerns about possible violations of law or regulation.  
8.Other Covenants
(a)Non-Solicitation.  For the duration of the Employment Period and for twelve (12) months thereafter, other than in the course of performing his duties, the Executive shall not, directly or indirectly through another person, induce or attempt to induce any employee of the Company or any of its subsidiaries (other than restaurant-level employees who are not managers) to leave the employ of the Company or such subsidiary, or in any way interfere with the relationship between the Company or any of its subsidiaries and any such employee. 
(b)Compliance with Company Policies.  The Executive agrees that, during the Employment Period, he shall comply in all material respects with the Company’s employee manual and other policies and procedures reasonably established by the Company from time to 
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time, including but not limited to policies addressing matters such as management, supervision, recruiting and diversity.
(c)Cooperation.  For a period of eighteen (18) months following the end of the Employment Period, the Executive shall, upon the Company’s reasonable request and in good faith and with the Executive’s commercially reasonable efforts and subject to the Executive’s reasonable availability, cooperate and assist the Company in any dispute, controversy, or litigation in which the Company may be involved and with respect to which the Executive obtained knowledge while employed by the Company or any of its affiliates, successors, or assigns, including, but not limited to, participation in any court or arbitration proceedings, giving of testimony, signing of affidavits, or such other personal cooperation as counsel for the Company shall request.  Any such activities shall be scheduled, to the extent reasonably possible, to accommodate the Executive’s business and personal obligations at the time.  The Company shall pay the Executive’s reasonable travel and incidental out-of-pocket expenses incurred in connection with any such cooperation.
(d)Return of Business Records and Equipment.  Upon termination of the Executive’s employment hereunder, the Executive shall promptly return to the Company:  (i) all documents, records, procedures, books, notebooks, and any other documentation in any form whatsoever, including but not limited to written, audio, video or electronic, containing any information pertaining to the Company which includes Confidential Information, including any and all copies of such documentation then in the Executive’s possession or control regardless of whether such documentation was prepared or compiled by the Executive, Company, other employees of the Company, representatives, agents, or independent contractors, and (ii) all equipment or tangible personal property entrusted to the Executive by the Company.  The Executive acknowledges that all such documentation, copies of such documentation, equipment, and tangible personal property are and shall at all times remain the sole and exclusive property of the Company.
9.Nondisparagement.  During the Executive’s employment with the Company and thereafter, the Executive agrees, to the fullest extent permissible by law, not to make, directly or indirectly, any public or private statements, gestures, signs, signals or other verbal or nonverbal, direct or indirect communications that the Executive, using reasonable judgment, should have known would be harmful to or reflect negatively on the Company or are otherwise disparaging of the Company or its past, present or future officers, board members, employees, shareholders, and their affiliates.  Nothing in this Section 9 shall prohibit either party from truthfully responding to an accusation from the other party or require either party to violate any subpoena or law.
10.Governing Law.  This Agreement and any disputes or controversies arising hereunder shall be construed and enforced in accordance with and governed by the internal laws of the State of Colorado, without reference to principles of law that would apply the substantive law of another jurisdiction.
11.Entire Agreement.  This Agreement, together with the agreements granting to the Executive the stock options specified in Section 3(c), constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and thereof and supersedes 
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and cancels any and all previous agreements, written and oral, regarding the subject matter hereof.  Without limiting the generality of the foregoing this Agreement supersedes the Employment Agreement dated September 21, 2017.  This Agreement shall not be changed, altered, modified or amended, except by a written agreement that (i) explicitly states the intent of both parties hereto to supplement this Agreement and (ii) is signed by both parties hereto.
12.Notices.  All notices, requests, demands and other communications called for or contemplated hereunder shall be in writing and shall be deemed to have been sufficiently given if personally delivered or if sent by registered or certified mail, return receipt requested to the parties, their successors in interest, or their assignees at the following addresses, or at such other addresses as the parties may designate by written notice in the manner aforesaid, and shall be deemed received upon actual receipt:
(a)to the Company at:
Noodles & Company
520 Zang Street, Suite D
Broomfield, CO 80021
Fax: (720) 214-1921
Attention:  General Counsel
with a copy to:
Gibson, Dunn & Crutcher LLP
200 Park Avenue
New York, NY 10166
Attention: Steven Shoemate, Esq.
Facsimile: (212) 351-5316
(b)to the Executive at the address reflected in the Company’s payroll records
13.Severability.  If any term or provision of this Agreement, or the application thereof to any person or under any circumstance, shall to any extent be invalid or unenforceable, the remainder of this Agreement, or the application of such terms to the persons or under circumstances other than those as to which it is invalid or unenforceable, shall be considered severable and shall not be affected thereby, and each term of this Agreement shall be valid and enforceable to the fullest extent permitted by law.
14.Waiver.  The failure of any party to insist in any one instance or more upon strict performance of any of the terms and conditions hereof, or to exercise any right or privilege herein conferred, shall not be construed as a waiver of such terms, conditions, rights or privileges, but same shall continue to remain in full force and effect.  Any waiver by any party of any violation of, breach of or default under any provision of this Agreement by the other party shall not be construed as, or constitute, a continuing waiver of such provision, or waiver of any other violation of, breach of or default under any other provision of this Agreement.
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15.Successors and Assigns.  This Agreement shall be binding upon the Company and any successors and assigns of the Company, including any corporation with which, or into which, the Company may be merged or which may succeed to the Company’s assets or business.  In the event that the Company sells or transfers all or substantially all of the assets of the Company, or in the event of any merger or consolidation of the Company, the Company shall use reasonable efforts to cause such assignee, transferee, or successor to assume the liabilities, obligations and duties of the Company hereunder.  Neither this Agreement nor any right or obligation hereunder may be assigned by the Executive; provided, however, that this provision shall not preclude the Executive from designating one or more beneficiaries to receive any amount that may be payable after his death and shall not preclude his executor or administrator from assigning any right hereunder to the person or persons entitled hereto.
16.Counterparts.  This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which together shall constitute one and the same instrument.
17.Headings.  Headings in this Agreement are for reference only and shall not be deemed to have any substantive effect.
18.Opportunity to Seek Advice; Warranties and Representations.  The Executive acknowledges and confirms that he has had the opportunity to seek such legal, financial and other advice and representation as he has deemed appropriate in connection with this Agreement.  The Executive hereby represents and warrants to the Company that he is not under any obligation of a contractual or quasi-contractual nature known to him that is inconsistent or in conflict with this Agreement or that would prevent, limit or impair the performance by the Executive of his obligations hereunder.
19.Withholdings.  All salary, severance payments, bonuses or benefits provided by the Company under this Agreement shall be net of any tax or other amounts required to be withheld by the Company under applicable law.
20.Section 409A.  The parties intend that any compensation, benefits and other amounts payable or provided to the Executive under this Agreement be paid or provided in compliance with Section 409A of the Internal Revenue Code and all regulations, guidance, and other interpretative authority issued thereunder (collectively, “Section 409A”) such that there will be no adverse tax consequences, interest, or penalties for the Executive under Section 409A as a result of the payments and benefits so paid or provided to him.  The parties agree to modify this Agreement, or the timing (but not the amount) of the payment hereunder of severance or other compensation, or both, to the extent necessary to comply with and to the extent permissible under Section 409A.  In addition, notwithstanding anything to the contrary contained in any other provision of this Agreement, the payments and benefits to be provided the Executive under this Agreement shall be subject to the provisions set forth below.
(a)The date of the Executive’s “separation from service,” as defined in the regulations issued under Section 409A, shall be treated as Executive’s Date of Termination for purpose of determining the time of payment of any amount that becomes payable to the 
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Executive pursuant to Section 5 hereof upon the termination of his employment and that is treated as an amount of deferred compensation for purposes of Section 409A.
(b)In the case of any amounts that are payable to the Executive under this Agreement, or under any other “nonqualified deferred compensation plan” (within the meaning of Section 409A) maintained by the Company in the form of  installment payments, (i) the Executive’s right to receive such payments shall be treated as a right to receive a series of separate payments under Treas. Reg. §1.409A-2(b)(2)(iii), and (ii) to the extent any such plan does not already so provide, it is hereby amended as of the date hereof to so provide, with respect to amounts payable to the Executive thereunder.
(c)If the Executive is a “specified employee” within the meaning of Section 409A at the time of his “separation from service” within the meaning of  Section 409A, then any payment otherwise required to be made to him under this Agreement on account of his separation from service, to the extent such payment (after taking in to account all exclusions applicable to such payment under Section 409A) is properly treated as deferred compensation subject to Section 409A, shall not be made until the first business day after (i) the expiration of six months from the date of the Executive’s separation from service, or (ii) if earlier, the date of the Executive’s death (the “Delayed Payment Date”).  On the Delayed Payment Date, there shall be paid to the Executive or, if the Executive has died, to the Executive’s estate, in a single cash lump sum, an amount equal to aggregate amount of the payments delayed pursuant to the preceding sentence.
(d)To the extent that the reimbursement of any expenses or the provision of any in-kind benefits pursuant to this Agreement is subject to Section 409A, (i) the amount of such expenses eligible for reimbursement, or in-kind benefits to be provided hereunder during any one calendar year shall not affect the amount of such expenses eligible for reimbursement or in-kind benefits to be provided hereunder in any other calendar year; provided, however, that the foregoing shall not apply to any limit on the amount of any expenses incurred by the Executive that may be reimbursed or paid under the terms of the Company’s medical plan, if such limit is imposed on all similarly situated participants in such plan; (ii) all such expenses eligible for reimbursement hereunder shall be paid to the Executive as soon as administratively practicable after any documentation required for reimbursement for such expenses has been submitted, but in any event by no later than December 31 of the calendar year following the calendar year in which such expenses were incurred; and (iii) the Executive’s right to receive any such reimbursements or in-kind benefits shall not be subject to liquidation or exchange for any other benefit.
[The next page is the signature page]

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date.

												
				
			NOODLES & COMPANY	
			a Delaware corporation	
				
			By:	/s/ MELISSA M. HEIDMAN
				Melissa M. Heidman
				
			EXECUTIVE:	
				
			/s/ DAVE BOENNIGHAUSEN	
			Dave Boennighausen	
				
				

[Signature Page to Employment Agreement]

Exhibit A

RELEASE AGREEMENT

1.    Executive, individually and on behalf of his heirs and assigns, hereby releases, waives and discharges Company, and all subsidiary, parent or affiliated companies and corporations, and their present, former or future respective subsidiary, parent or affiliated companies or corporations, and their respective present or former directors, officers, shareholders, trustees, managers, supervisors, employees, partners, attorneys, agents, representatives and insurers, and the respective successors, heirs and assigns of any of the above described persons or entities (hereinafter referred to collectively as “Released Parties”), from any and all claims, causes of action, losses, damages, costs, and liabilities of every kind and character, whether known or unknown (“Claims”), that Executive may have or claim to have, in any way relating to or arising out of, in whole or in part, (a) any event or act of omission or commission occurring on or before the Date of Termination, including Claims arising by reason of the continued effects of any such events or acts, which occurred on or before the Date of Termination, or (b) Executive’s employment with Company or the termination of such employment with Company, including but not limited to Claims arising under federal, state, or local laws prohibiting disability, handicap, age, sex, race, national origin, religion, retaliation, or any other form of discrimination, such as the Americans with Disabilities Act, 42 U.S.C.§§ 12101 et seq.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. §§ 621 et seq.; and Title VII of the 1964 Civil Rights Act, as amended, 42 U.S.C. §§ 2000e et seq.; Claims for intentional infliction of emotional distress, tortious interference with contract or prospective advantage, and other tort claims; and Claims for breach of express or implied contract; with the exception of Employee’s vested rights, if any, under Company retirement plans. Executive hereby warrants that he has not assigned or transferred to any person any portion of any claim that is released, waived and discharged above. Executive understands and agrees that by signing this Agreement he is giving up his right to bring any legal claim against any Released Party concerning, directly or indirectly, Executive’s employment relationship with the Company, including his separation from employment, and/or any and all contracts between Executive and Company, express or implied. Executive agrees that this legal release is intended to be interpreted in the broadest possible manner in favor of the Released Parties, to include all actual or potential legal claims that Executive may have against any Released Party, except as specifically provided otherwise in this Agreement.  This release does not cover Claims relating to the validity or enforcement of this Agreement. Further, Executive has not released any claim for indemnity or legal defense available to him due to his service as a board member, officer or director of the Company, as provided by the certificate of incorporation or bylaws of the Company, or by any applicable insurance policy, or under any applicable corporate law.
2.    Executive agrees and acknowledges that he: (i) understands the language used in this Agreement and the Agreement’s legal effect; (ii) understands that by signing this Agreement he is giving up the right to sue the Company for age discrimination; (iii) will receive compensation under this Agreement to which he would not have been entitled without signing this Agreement; (iv) has been advised by Company to consult with an attorney before signing 
A-1

this Agreement; and (v) was given no less than twenty-one days to consider whether to sign this Agreement.  For a period of seven days after the effective date of this Agreement, Executive may, in his sole discretion, rescind this Agreement, by delivering a written notice of rescission to the Board. If Executive rescinds this Agreement within seven calendar days after the effective date, this Agreement shall be void, all actions taken pursuant to this Agreement shall be reversed, and neither this Agreement nor the fact of or circumstances surrounding its execution shall be admissible for any purpose whatsoever in any proceeding between the parties, except in connection with a claim or defense involving the validity or effective rescission of this Agreement.  If Executive does not rescind this Agreement within seven calendar days after the Effective Date, this Agreement shall become final and binding and shall be irrevocable.
3.    Nothing herein affects Executive’s obligations under the Employment Agreement between the Company and the Executive dated October 27, 2020 (the “Employment Agreement”) that survive Executive’s termination of employment.
4.    Capitalized terms not defined herein have the meaning specified in the Employment Agreement.
A-2

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