Document:

Exhibit 10.15

 

EMPLOYMENT AGREEMENT

 

BETWEEN:

 

JAMES GOWANS, Business
person, of 2662-124 B Street, Surrey, British Columbia, V4A 3P1

 

(the “Executive”)

 

AND:

 

TRILOGY
METALS INC., a company incorporated pursuant to the laws of British Columbia and having its registered office in British
Columbia at Suite 1150 – 609 Granville Street, Vancouver, British Columbia, V6C 1G5

 

(the “Company”)

 

WHEREAS:

 

A.          The Company is a natural resource company currently engaged in the acquisition and exploration of mineral properties;

 

B.           The Company wishes to employ and the Executive wishes to supply his services in the capacity of Acting President and Chief Executive
Officer, on the terms and conditions set out in this Agreement;

 

C.           The Company and the Executive desire that this employment relationship and the terms thereof be formally embodied in this Agreement;

 

THEREFORE in
consideration of the recitals, the following covenants and the payment of one dollar made by each party to the other, the receipt
and sufficiency of which are acknowledged by each party, the parties agree on the following terms:

 

		1.	ENGAGEMENT AND DURATION

 

		1.1	Engagement

 

The Company
hereby employs the Executive as Acting President and Chief Executive Officer and the Executive accepts such employment.

 

		1.2	Term

 

The Executive's
employment pursuant to the terms of this Agreement shall commence effective September 4, 2019 and shall end on February 28, 2020
(the “Term”), unless extended by the mutual written agreement of the parties or unless terminated during the Term as
set forth herein.

 

    

    -2-

    

 

		2.	DUTIES

 

		2.1	Performance of Duties

 

The Executive
shall act as Acting President and Chief Executive Officer, and the Executive shall perform such services and duties as are normally
provided by a President and Chief Executive Officer of a company in a business and of a size similar to the Company’s, and
such other services and duties as may reasonably be required from time to time.

 

		2.2	Other Boards or Committees

 

The Executive’s performance
of reasonable personal, civic or charitable activities or the Executive’s service on any boards or committees of any private
or public companies shall not be deemed to interfere with the performance of the Executive’s services and responsibilities
to the Company pursuant to this Agreement, so long as there is no conflict between the business of the Company and the business
of the private or public companies.  The Executive agrees to inform the Board forthwith upon the Executive being appointed
to any such board or committee.

 

		2.3	Principal Place of Work

 

The Executive
shall perform his duties at the Company’s principal executive offices, which are currently located in Vancouver, British
Columbia. The Executive acknowledges that his duties and responsibilities may involve a reasonable amount of traveling.

 

		2.4	Reporting

 

The Executive
shall report to the Board of Directors of the Company (the “Board”).

 

		2.5	Instructions

 

The Executive
will, subject to the terms of this Agreement, comply promptly and faithfully with the reasonable and lawful instructions, directions,
requests, rules and regulations of the Board.

 

		3.	REMUNERATION AND BENEFITS

 

		3.1	Salary

 

The Executive
has agreed that he will be fully compensated for his services through the grant of options as described is section 3.6 of this
Agreement.

 

		3.2	Reimbursement of Expenses

 

The Company
shall reimburse the Executive for all reasonable expenses incurred by him in the performance of this Agreement provided that the
Executive provides the Company with written expense accounts with respect to each calendar month.

 

		3.3	Medical Benefits

 

The Company
shall not be providing medical benefits.

 

		3.4	Directors and Officers Liability Insurance

 

The Company
shall provide the Executive with directors’ and officers’ liability insurance appropriate to the nature of his responsibilities
under this Agreement. The directors’ and officers’ liability insurance will be subject to the terms and conditions
of the insurance policy’s coverage.

 

    

    -3-

    

 

		3.5	Vacation

 

The Executive
may take a reasonable number of vacation days during the Term subject to the oprational needs of the Company.

 

		3.6	Stock Options

 

The Board shall grant 550,000
options to purchase common shares in the Company as full compensation for the services provide by the Executive pursuant to this
Agreement. Any further stock options grants shall be at the discretion of the Board. All stock options are subject to, and will
be made in accordance with, the guidelines of the Toronto Stock Exchange and the Company’s Employee Stock Option Plan.

 

		4.	CONFIDENTIALITY AND NON-DISCLOSURE

 

		4.1	“Confidential Information”

 

The term “Confidential
Information” means any and all information concerning any aspect of the Company not publicly disclosed, which the Executive
may receive or develop as a result of his engagement by or involvement with the Company, and including all technical data, concepts,
reports, programs, processes, technical information, trade secrets, systems, business strategies, financial information and other
information unique to the Company. All Confidential Information, including notes, diagrams, maps, reports, notebook pages, memoranda,
sample materials and any excerpts thereof that include Confidential Information are the property of the Company or parties for
whom the Company acts as agent or who are customers of the Company, as the case may be, and are strictly confidential to the Company
and/or such parties.  The Executive shall not make any unauthorized disclosure or use of and shall use his best efforts to
prevent unauthorized disclosure or use of such Confidential Information.

 

		4.2	Equitable Remedies

 

The Executive acknowledges that
any unauthorized disclosure or use of such Confidential Information by the Executive may result in material damages to the Company
and that the Company shall be entitled to seek injunctive relief or any other legal or equitable remedy to prohibit, prevent or
enjoin unauthorized disclosure or use of Confidential Information by the Executive. The Executive acknowledges and agrees that
his unauthorized disclosure or use of Confidential Information will cause irreparable harm to the Company that could not be adequately
compensated by damages.

 

		4.3	Use of Confidential Information

 

Except as authorized by the Company,
the Executive will not:

 

		(a)	duplicate, transfer or disclose nor allow any other person to duplicate, transfer or disclose any
of the Company’s Confidential Information; or

 

		(b)	use the Company’s Confidential Information without the prior written consent of the Company.

 

		4.4	Protection of Confidential Information

 

The Executive will safeguard
all Confidential Information at all times so that it is not exposed to or used by unauthorized persons, and will exercise at least
the same degree of care used to protect the Executive’s own Confidential Information.

 

    

    -4-

    

 

		4.5	Exception

 

The restrictive obligations set
forth above shall not apply to the disclosure or use of any information which:

 

		(a)	is or later becomes publicly known under circumstances involving no breach of this Agreement by
the Executive;

 

		(b)	is already known to the Executive at the time of receipt of the Confidential Information;

 

		(c)	is lawfully made available to the Executive by a third party;

 

		(d)	is disclosed by the Executive pursuant to a requirement of a governmental department or agency
or disclosure is otherwise required by operation of law, provided that the Executive gives notice in writing to the Company of
the required disclosure immediately upon his becoming advised of such required disclosure and provided also that the Executive
delays such disclosure so long as it is reasonably possible in order to permit the Company to appeal or otherwise oppose such required
disclosure and provides the Company with such assistance as the Company may reasonably require in connection with such appeal or
other opposition;

 

		(e)	is disclosed to a third party under an approved confidentiality agreement; or

 

		(f)	is disclosed in the course of the Executive's proper performance of the Executive's duties under
this Agreement.

 

		4.6	Survival

 

The provisions of this Article
4 shall survive the termination of this Agreement.

 

		4.7	Equitable Relief

 

The Executive agrees that, in
the event he violates any of the restrictions referred to in sections 4 the Company shall suffer irreparable harm and shall be
entitled to preliminary and permanent injunctive relief and any other remedies in law or in equity which the court deems fit.

 

		5.	DELIVERY OF RECORDS

 

Upon the termination of the employment
of the Executive by the Company, the Executive will deliver to the Company all books, records, lists, brochures and other property
belonging to the Company or developed in connection with the business of the Company, and will execute such transfer documentation
as is necessary to transfer such property or intellectual property to the Company.

 

		6.	TERMINATION

 

		6.1	The Executive’s Right to Terminate

 

The Executive may terminate
his obligations under this Agreement duirng the Term at any time upon providing thirty days notice in writing to the Company.

 

    

    -5-

    

 

		6.2	Company’s Right to Terminate

 

The Company
may terminate the Executive’s employment under this Agreement during the Term at any time:

 

		(a)	for just cause which shall include, without limitation, any of the following events:

 

		(i)	theft, dishonesty or fraud by the Executive with respect to the business of the Company;

 

		(ii)	the conviction of the Executive for a criminal offence that gives rise or is likely to give rise
to the Company's stock becoming ineligible for listing on any stock exchange or market or the Company's stock being subject to
a cease-trade order by a Canadian or US securities regulatory authority; or

 

		(iii)	any and all other omissions, commissions or other conduct which would constitute just cause at
law; or

 

		(b)	upon the Executive dying; or

 

		(c)	at any time by providing the Executive with 14 days’ written notice.

 

		6.3	Property Interests

 

If the Executive's employment
with the Company is terminated, and within two years of such termination, the Executive acquires directly or indirectly other than
from the Company or its subsidiaries any present or future interest in any mining claims or properties or mineral interests within
the area of interest as identified in the NANA Agreement and within 10 kilometers of the external boundaries of any mineral property
held by the Company during the time the Executive was employed by the Company, the Executive will offer the Company, in writing
the right to acquire such interest in exchange for reimbursement of his direct and indirect acquisition costs. The Company shall
have 30 days after receipt of such offer to accept the offer and 90 days after receipt of such offer to reimburse such costs.

 

		6.4	Resignations

 

Upon termination of the Executive
for whatever reason the Executive shall forthwith execute and deliver to the Company his written resignation from any and all offices
of the Company and its affiliates, without claim for compensation for loss of office save and except that the Executive shall not
be required to resign as a director of the Company.

 

		6.5	Payments in Full Settlement

 

The Executive acknowledges and
agrees that the notice provided for pursuant to this Article 6 shall be in full satisfaction of all claims, losses, costs, damages
or expenses in connection with the termination of his employment, including termination pay and severance pay pursuant to any applicable
labour laws as amended from time to time. Except as provided in this Article, the Executive shall not be entitled to any further
notice, termination payments, damages or compensation whatsoever in connection with the employment of the Executive and the termination
thereof.

 

    

    -6-

    

 

		7.	PERSONAL NATURE

 

The obligations and rights of the Executive
under this Agreement are personal in nature, based upon the singular skill, qualifications and experience of the Executive.

 

		8.	RIGHT TO USE EXECUTIVE’S NAME AND LIKENESS

 

During the term of this Agreement, the
Executive hereby grants to the Company the right to use the Executive’s name, likeness and/or biography in connection with
the services performed by the Executive under this Agreement and in connection with the advertising or exploitation of any project
with respect to which the Executive performs services for the Company.

 

		9.	LEGAL ADVICE

 

The Executive hereby represents, warrants
and acknowledges to the Company that he has had the opportunity to receive independent legal advice prior to the execution and
delivery of this Agreement.

 

		10.	WAIVER

 

No consent or waiver, express or implied,
by any party to this Agreement of any breach or default by any other party in the performance of its obligations under this Agreement
or of any of the terms, covenants or conditions of this Agreement shall be deemed or construed to be a consent or waiver of any
subsequent or continuing breach or default in such party’s performance or in the terms, covenants and conditions of this
Agreement.  The failure of any party to this Agreement to assert any claim in a timely fashion for any of its rights or remedies
under this Agreement shall not be construed as a waiver of any such claim and shall not serve to modify, alter or restrict any
such party’s right to assert such claim at any time thereafter.

 

		11.	NOTICES

 

		11.1	Delivery of Notice

 

Any notice
relating to this Agreement or required or permitted to be given in accordance with this Agreement shall be in writing and shall
be personally delivered or mailed by registered mail, postage prepaid to the address of the parties set out on the first page of
this Agreement.  Any notice shall be deemed to have been received if delivered, when delivered, and if mailed, on the fifth
day (excluding Saturdays, Sundays and holidays) after the mailing thereof.  If normal mail service is interrupted by strike,
slowdown, force majeure or other cause, a notice sent by registered mail will not be deemed to be received until actually received
and the party sending the notice shall utilize any other services which have not been so interrupted or shall deliver such notice
in order to ensure prompt receipt thereof.

 

		11.2	Change of Address

 

Each party
to this Agreement may change its address for the purpose of this Part 11 by giving written notice of such change in the manner
provided for in paragraph 11.1.

 

		12.	APPLICABLE LAW

 

This Agreement shall be governed by and
construed in accordance with the laws of the province of British Columbia and the federal laws of Canada applicable therein, which
shall be deemed to be the proper law hereof. The parties hereto hereby submit to the jurisdiction of the courts of British Columbia.
All obligations of the parties under this Agreement are subject to receipt of all necessary approvals of the applicable securities
regulatory authorities.

 

    

    -7-

    

 

		13.	SEVERABILITY

 

If any provision of this Agreement for
any reason be declared invalid, such declaration shall not affect the validity of any remaining portion of the Agreement, which
remaining portion shall remain in full force and effect as if this Agreement had been executed with the invalid portion thereof
eliminated, and it is hereby declared the intention of the parties that they would have executed the remaining portions of this
Agreement without including therein any such part, parts or portion which may, for any reason, be hereafter declared invalid.

 

		14.	ENTIRE AGREEMENT

 

This Agreement constitutes the entire agreement
between the parties hereto and there are no representations or warranties, express or implied, statutory or otherwise other than
set forth in this Agreement and there are no agreements collateral hereto other than as are expressly set forth or referred to
herein.  This Agreement cannot be amended or supplemented except by a written agreement executed by all parties hereto.

 

		15.	NON-ASSIGNABILITY

 

This Agreement shall not be assigned by
any party to this Agreement without the prior written consent of the other parties to this Agreement.

 

		16.	BURDEN AND BENEFIT

 

This Agreement shall enure to the benefit
of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and permitted assigns.

 

		17.	TIME

 

Time is of the essence of this Agreement.

 

    

    -8-

    

 

		18.	COUNTERPARTS

 

This Agreement may be executed in counterparts
and such counterparts together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF the parties
hereto have executed this Agreement effective as of the 21st day of October, 2019.

 

	TRILOGY METALS INC.	 
	 	 
	 	 
	/s/ Janice Stairs	 
	Per:	JANICE STAIRS	 
	 	CHAIR   	 
	 	 
	 	 
	/s/ James Gowans	 
	JAMES GOWANSExhibit

Exhibit 4.17 
DESCRIPTION OF THE REGISTRANT’S SECURITIES 
REGISTERED PURSUANT TO SECTION 12 OF THE 
SECURITIES EXCHANGE ACT OF 1934 
As of December 31, 2019, Zoetis Inc. (“Zoetis,” the “Company,” “we,” “us” and “our”) had one class of securities that was registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our common stock, par value $0.01 per share. 
Description of Common Stock
The following description of certain terms of our capital stock does not purport to be complete and is subject to, and qualified in its entirety by reference to, our restated certificate of incorporation (the “Certificate of Incorporation”) and our by-laws, as amended and restated (the “By-Laws”), each of which is incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.17 is a part, and the applicable provisions of the Delaware General Corporation Law (the “DGCL”). We encourage you to read the Certificate of Incorporation, the By-laws and the applicable provisions of the DGCL for additional information.
Authorized Shares of Capital Stock
Our authorized capital stock consists of 6,000,000,000 shares of common stock, par value $0.01 per share, and 1,000,000,000 shares of preferred stock, par value $0.01 per share.  As of December 31, 2019, there were 475,528,210 shares of common stock outstanding, and no shares of our preferred stock outstanding.  The shares of common stock currently outstanding are fully paid and nonassessable.
Preferred Stock
Our board of directors has the authority, without the need for stockholder approval and subject to any limitations that may be imposed by the DGCL or our By-Laws, to issue one or more classes or series of preferred stock at any time and to fix for each such class or series the rights, preferences and restrictions, including, without limitation: 
		
	•
	voting rights;

		
	•
	redemption rights;

		
	•
	dividend rights;

		
	•
	liquidation rights; 

		
	•
	conversion rights; and

		
	•
	any other relative rights, preferences and restrictions.

As described above, our board of directors, without stockholder approval, may issue preferred stock with voting and conversion rights, which could adversely affect the voting power of the holders of our common stock. If we issue preferred stock, it may have the effect of delaying, deferring or preventing a change of control.
Voting Rights
Holders of common stock have one vote per share on all matters voted on by stockholders, including the election of directors.  Our common stock does not have cumulative voting rights.  

Dividend Rights
Subject to the rights of holders of any outstanding shares of our preferred stock, the holders of common stock are entitled to receive dividends, if any, as and when may be declared from time to time by our board of directors out of funds legally available therefor. 
Liquidation Rights
Subject to any preferential rights of outstanding shares of preferred stock, holders of common stock will be entitled to participate equally and ratably, in proportion to the number of shares held, in our net assets available for distribution to holders of common stock in the event of dissolution. 
Absence of Other Rights
Our common stock is not subject to any preemptive rights, subscription rights, preferential rights, conversion rights, exchange rights or redemption rights or related sinking fund provision.
Listing
Our common stock is listed on the New York Stock Exchange under the symbol “ZTS.”
Transfer agent and Registrar
The transfer agent and registrar for our common stock is Computershare Trust Company, N.A.
Limitation of Liability of Directors
Our Certificate of Incorporation provides that none of our directors will be liable to us or our stockholders for monetary damages for any breach of fiduciary duty as a director, except to the extent otherwise required by the DGCL. Our Certificate of Incorporation also includes provisions for the indemnification of our directors and officers to the fullest extent authorized or permitted by law.  Further, we have entered into indemnification agreements with our directors and executive officers which require us, among other things, to indemnify them against certain liabilities which may arise by reason of their status or service as a director or officer and to advance to them expenses, subject to reimbursement to us if it is determined that they are not entitled to indemnification. We also maintain director and officer liability insurance.
Anti-takeover Effects of the Certificate of Incorporation, By-laws and Delaware Law 
Certificate of Incorporation and By-laws. Various provisions contained in the Certificate of Incorporation and the By-laws could delay or discourage some transactions involving an actual or potential change in control of us or a change in our management and may limit the ability of our stockholders to remove current management or approve transactions that our stockholders may deem to be in their best interests. Among other things, these provisions provide for: 
		
	•
	a board of directors that is divided into three classes with staggered terms; 

		
	•
	rules regarding how our stockholders may present proposals or nominate directors for election at stockholder meetings; 

		
	•
	the right of our board of directors to issue preferred stock without stockholder approval; 

		
	•
	limitations on the right of stockholders to remove directors; 

		
	•
	limitations on the right of stockholders to act by written consent; and

		
	•
	limitations on the right of stockholders to call for special meetings.

Delaware Law. We are a Delaware corporation and consequently are also subject to certain anti-takeover provisions of the DGCL. Subject to certain exceptions, Section 203 of the DGCL prevents a publicly held Delaware corporation from engaging in a “business combination” with any “interested stockholder” for three years following the date that the person 

became an interested stockholder, unless the interested stockholder attained such status with the approval of the corporation’s board of directors or unless the business combination is approved in a prescribed manner. A “business combination” includes, among other things, a merger or consolidation involving the corporation and the “interested stockholder” and the sale of more than 10% of the corporation’s assets. In general, an “interested stockholder” is any entity or person beneficially owning 15% or more of the corporation’s outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person. Section 203 makes it more difficult for an interested stockholder to effect various business combinations with a corporation for a three-year period. This statute could prohibit or delay mergers or other takeover or change in control attempts not approved in advance by our board of directors, and, as a result, could discourage attempts to acquire us, which could depress the market price of our common stock.

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