Document:

Form of Certificate of Designation for Series B Preferred Stock

 Exhibit 4.5 
  
  
 The shares represented hereby have not been registered under the Securities Act of 1933
and may not be sold, transferred, assigned, pledged or hypothecated unless and until registered under such Act, or unless the Corporation has received an opinion of counselor other evidence satisfactory to the Corporation and its counsel that such
registration is not required. 
  

 CERTIFICATE OF DESIGNATION 
 OF 
 BROADWAY FINANCIAL CORPORATION 
 FOR 
 NONCUMULATIVE PERPETUAL
PREFERRED STOCK, SERIES B 
  
 BROADWAY FINANCIAL CORPORATION,
a corporation organized and existing under the General Corporation Law of the State of Delaware (the “Company”) in accordance with the provisions of Section 151 (g) thereof, 
  
 HEREBY CERTIFIES: 
  
 That pursuant to the authority conferred upon the Board of Directors by the
Certificate of Incorporation, the Board of Directors on December 18, 2002 duly adopted the following resolution creating a series of preferred stock to be designated “Noncumulative Perpetual Preferred Stock, Series B” and to consist of
100,000 shares: 
  
 WHEREAS, the Certificate of Incorporation of
Broadway Financial Corporation, a Delaware corporation (the “Company”), provides that the Company shall have authority to issue up to 1 ,000,000 shares of Preferred Stock; 
  
 WHEREAS, the Certificate of Incorporation of the Company provides that the
Board of Directors is authorized to fix by resolution the designations and the powers, preferences and relative, participating, optional or other special rights and qualifications, limitations or restrictions thereof, including without limitation
the voting rights, the dividend rate and preference, redemption rights and liquidation preference, of any series of shares of Preferred Stock, to fix the number of shares constituting any such series and to increase or decrease the number of shares
of any such series; 
  
 NOW, THEREFORE, BE IT RESOLVED, that the
designation, powers, preferences and relative, participating, optional and other special rights of the Noncumulative Perpetual Preferred Stock, Series B and the qualifications, imitations and restrictions thereof, are as set forth below: 

 
 Section 1. Designation and Rank.    There is
hereby established a series of shares of Preferred Stock, which series of Preferred Stock shall be designated as the “Noncumulative Perpetual Preferred Stock, Series B” (the “Series B Preferred Stock”). The authorized
number of shares of Series B Preferred Stock shall be 100,000. Each share of Series B Preferred Stock shall have a par value of $0.01 per share and a liquidation preference of $10.00 per share as hereinafter provided. 
  
 The Series B Preferred Stock shall be subordinate to all indebtedness of the
Company. The Series B Preferred Stock shall be superior and prior in rank to the Common Stock and to all other Junior Stock to the extent set forth herein with respect to the declaration and payment of dividends and to distributions upon the
liquidation, dissolution or winding up of the affairs of the Company. The Series B Preferred Stock shall rank on a parity with the Series A Noncumulative 
  

 B-1 

 Perpetual Preferred Stock and with all other parity stock to the extent set forth herein with respect to the declaration
and payment of dividends and to distributions upon the liquidation, dissolution or winding up of the affairs of the Company. “Junior Stock” is defined for this purpose to mean the Common Stock and any other classes or series of equity
securities of the Company not expressly designated as being on a parity with, or senior to, the Series B Preferred Stock. The Company shall have the power to create and issue additional Preferred Stock or other classes of stock ranking on parity
with the Series B Preferred Stock (“parity stock”), or that constitute Junior Stock, without any approval or consent of the Series B Preferred Stock. 
  

The number of shares of Series B Preferred Stock may be increased or decreased from time to time by action of not less than a majority of the members
of the Board of Directors then in office; provided, that no decrease effected solely through such action of the Board of Directors shall reduce the number of shares of Series B Preferred Stock to a number less than the number of shares then
outstanding plus the number of shares reserved for issuance upon the exercise of outstanding options, rights or warrants, if any, to purchase shares of Series B Preferred Stock, or upon the conversion of any outstanding securities issued by the
Company that are convertible into shares of Series B Preferred Stock. 
  
 Section 2.    Dividends. 
  
 A. Payment of Dividends. The holders of shares of Series B Preferred Stock shall be entitled to receive, when, as and if declared by the Board of Directors out of funds legally available therefore, noncumulative quarterly cash
dividends at an annual rate equal to 5% (the “Series B Dividend Rate”) of the $10.00 per share liquidation preference of such stock. Dividends on the Series B Preferred Stock (other than with respect to the Series B Initial Dividend
Period, as defined below), shall be payable, if declared, in quarterly installments as of the first day of January, April, July and October of each year, or, if such day is not a business day, then on the next business day, to holders of record as
of a date to be fixed by the Board of Directors of the Company not more than 60 days prior to the date any such dividend is paid. The initial period for dividends (the “Series B Initial Dividend Period”) shall commence on the date of
initial issuance of the Series B Preferred Stock and shall end on and include March 31, 2003, and such dividend shall be payable as of May 1, 2003. Thereafter, quarterly dividend periods (each a “Series B Dividend Period,” which term also
includes the Series B Initial Dividend Period) shall commence on and include December 1, March 1, June 1 and September 1 of each year and shall end on and include the day immediately preceding the commencement of the next following Series B Dividend
Period. 
  
 The amount of dividends per share for each full Series
B Dividend Period shall be computed by dividing by four an amount equal to (i) the amount of the liquidation preference of such share, (ii) multiplied by the Series B Dividend Rate. Dividends for any period of less than a full three months shall be
computed on the basis of a 360-day year composed of twelve 30 day months and the actual number of days elapsed in such period. 
  
 B. Dividends Noncumulative. Dividends on the shares of Series B Preferred Stock shall be noncumulative. Accordingly, if a dividend on the shares of
Series B Preferred Stock with respect to any Series B Dividend Period is not declared by the Board of Directors, then the Company shall not be obligated at any time to pay a dividend on the shares of Series B Preferred Stock in respect of such
Series B Dividend Period, whether or not dividends are declared and paid in respect of any subsequent Series B Dividend Period. 
  

 B-2 

 C. Priority as to Dividends. Unless full cash dividends on the Series B Preferred Stock for a
Series B Dividend Period have been or contemporaneously are declared and paid (or declared and a sum sufficient for the payment thereof set apart), no full dividends may be declared or paid or set apart for payment on the Preferred Stock of any
series ranking, as to dividends, on a parity with the Series B Preferred Stock for any period. When cash dividends are not paid in full (or declared and a sum sufficient for such full payment so set apart) upon the Series B Preferred Stock or any
series ranking, as to dividends, on a parity with the Series B Preferred Stock, no dividends may be declared on any series of stock ranking, as to dividends, junior to the Series B Preferred Stock and all dividends declared upon shares of Series B
Preferred Stock and any such parity stock shall be declared pro rata based upon the respective amounts that would have been paid thereon had dividends been paid in full. 
  
 Unless (i) full cash dividends on the Series B Preferred Stock have been declared and paid or set apart for payment for the
four most recent Series B Dividend Periods and (ii) the Company has declared a cash dividend on the Series B Preferred Stock at the annual dividend rate for the current Series B Dividend Period and sufficient funds have been set apart for the
payment of such cash dividend, the Company may not declare or pay or set apart any funds for payment of any dividends (other than dividends payable in Junior Stock) or make any other distribution upon Junior Stock or redeem, purchase or otherwise
acquire any Junior Stock for any consideration (and no monies may be paid to or made available for a sinking fund for the redemption of any shares of any such stock). 
  
 Section 3.    Liquidation Preference. 
  
 A. Liquidating Distributions. Upon liquidation, dissolution or
winding up of the affairs of the Company, after payment or provision for payment of the debts and other liabilities of the Company, the holders of the Series B Preferred Stock shall be entitled to receive payment in full out of the assets of the
Company, including its capital, $10.00 per share of Series B Preferred Stock, plus any dividends that have been declared but remain unpaid as of such date (the “Liquidation Amount”), before any amount shall be paid or distributed among the
holders of the Common Stock or other Junior Stock. 
  
 If, upon
any liquidation, dissolution or winding up of the Company, the amounts payable with respect to the Series B Preferred Stock and all other outstanding parity stock cannot be paid in full, the holders of each series of such stock shall share ratably
in any such distribution of assets in proportion to the full respective preferential amount to which they are entitled. 
  
 After payment of the full preferential amount to which they are entitled upon any liquidation, dissolution or winding up, the holders of the Series B
Preferred Stock shall have no right or claim to any of the remaining assets of the Company. 
  
 B. Consolidation, Merger or Certain Other Actions. The merger or consolidation of the Company into or with any other company or the merger of any other company into it, or the 
  
  

 B-3 

 sale, lease or conveyance of all or part of the assets of the Company, shall not be deemed to be a voluntary or
involuntary dissolution, liquidation or winding up of the Company. 
  
 Section 4.    Redemption 
  
 The shares of the Series B Preferred Stock shall not be redeemable at the option of the holders thereof; provided, that the shares of the Series B Preferred Stock shall be redeemable at the option of the holders thereof upon the
effectiveness of a merger, acquisition or sale of substantially all of the assets of the Company or of the Company’s wholly-owned subsidiary, Broadway Federal Bank, f.s.b. (the “Bank”), in any of which events the Company or the Bank,
as the case may be, is not in substance the surviving entity. The Company shall provide written notice of any such transaction to the holders of the Series B Preferred Stock of record as provided herein not less than 30 days prior to the date such
transaction is to become effective. The shares of the Series B Preferred Stock shall be redeemable) in whole or in part, at the option of the Company upon 30 days notice at any time. The Company shall, not less than 30 days prior to each such
redemption, mail a written notice to the holder of record of the Series B Preferred Stock to be redeemed as provided herein, which notice shall state: (i) whether all or less than all of the outstanding shares of the Series B Preferred Stock are to
be redeemed and the total number of such shares being redeemed; (ii) the number of shares of Series B Preferred Stock held by the holder which the Company intends to redeem; (iii) the redemption date and the redemption price; and (iv) the time and
manner in which, and the place at which, the holder is to surrender to the Company the certificates representing the Series B Preferred Stock to be redeemed. On or before the redemption date, each holder of the Series B Preferred Stock to be
redeemed shall surrender the certificate or certificates representing such shares to the Company, and thereupon the redemption price for such shares shall be payable to the order of the person whose name appears on such certificate or certificates
as the owner thereof, and each surrendered certificate shall be cancelled and retired. In the event that less than all the shares represented by any such certificate are redeemed, a new certificate representing the unredeemed shares shall be issued
to the holder of such shares. If the redemption notice is duly given, and upon the redemption date the redemption price is paid to the holder or set apart for that purpose, then notwithstanding the fact that the certificate representing any shares
of the Series B Preferred Stock so called for redemption shall not have been surrendered, all rights and privileges with respect to such shares shall cease and terminate. The per share redemption price to be paid to any holder of Series B Preferred
Stock upon any redemption as provided herein, whether at the option of the Company or at the option of such holder, shall be the Liquidation Amount applicable to the shares to be redeemed as of the date of such redemption. 
  
 Section 5.     Notices, Record Owners. 

 
 The Company shall be entitled to treat the holder of record of the Series
B Preferred Stock as the owner of such Series B Preferred Stock for all purposes. Any notice given by the Company to the holders of the Series B Preferred Stock shall be deemed to be properly given if sent by registered, certified or first class
mail, postage prepaid, to the holder’s address as shown on the records of the Company. 
  

 B-4 

 Section 6.    Voting Rights. 
  
 Except for any voting rights required by applicable law or as set forth
below, the holders of the Series B Preferred Stock shall not be entitled to vote as a separate class, or with the Common Stock, on any matters presented for action by the holders of the Common Stock or other securities of the Company. 
  
 So long as any Series B Preferred Stock is outstanding and unless the consent
or approval of a greater number of shares is then required by law or regulation, the Company may not without the affirmative vote or consent of the holders of two-thirds of an outstanding shares of Series B Preferred Stock voting as a separate
class, amend or otherwise alter or repeal any provision of the Company’s Certificate of Incorporation, including any amendments thereto, which would materially and adversely affect the rights, preferences, powers or privileges of the Series B
Preferred Stock, including any amendment which would (i) authorize, create, issue or increase the authorized or issued amount of any class or series of any equity securities of the Company ranking prior thereto as to dividends or upon liquidation,
dissolution or winding up of the Company or (ii) authorize, create, issue or increase any warrants, options or other rights convertible or exchangeable into or evidencing a right to purchase any amount of any such class or series. 
  
 Section 7.    No Sinking Fund. 
  
 No sinking fund shall be established for the retirement or redemption of
shares of Series B Preferred Stock. 
  
 Section
8.    Preemptive Rights. 
  
 No holder of
shares of Series B Preferred Stock shall have any preemptive rights in respect of any shares of the Company that may be issued. 
  
 Section 9.    No Other Rights. 
  
 The shares of Series B Preferred Stock shall not have any powers, designations, preferences or relative, participating, optional or other special rights
except as set forth in the Certificate of Incorporation of the Company, including this Certificate of Designation or as otherwise required by law. 
  
 Section 10.    Compliance with Applicable Law. 
  
 Payments by the Company to holders of Series B Preferred Stock in respect of dividends or the redemption of shares of Series
B Preferred Stock shall be subject to any restrictions and limitations placed on capital distributions by the Company under applicable law and regulations. 
  

 B-5 

 IN WITNESS WHEREOF, said Broadway Financial Corporation has caused this Certificate of Designation to be
duly executed by Paul C. Hudson, its Chief Executive Officer and President, and attested to by Beverly Dyck, its Secretary, this 23rd day of December, 2002. 
  

			
	BROADWAY FINANCIAL CORPORATION
		
	By:	 	/s/    PAUL C. HUDSON        
	 	 	

	 	 	Paul C. Hudson
	 	 	Chief Executive Officer and President

  

			
	Attest:
		
	 	 	/s/     BEVERLY DYCK        
	 	 	

	 	 	Beverly Dyck
	 	 	Secretary

  

 B-6Settlement Agreement Between Minera Andes Inc. and N.A. Degerstrom, Inc.

 Exhibit 10.20 
  
 

 
  
 December 2, 2003

  
 N.A. Degerstrom, Inc. 
 N. 3303 Sullivan Road 
 Spokane, Washington 99216 
  
 Attn: N. A. Degerstrom 
  
 Dear Sirs: 
  
 Settlement Agreement

  
 We refer to the following agreements: 
  

	(a)	the Asset and Share Acquisition Agreement made March 8, 1995 among N.A. Degerstrom, Inc. (NADI), Brian Gavin (Gavin), Jorge Vargas (Vargas), Enrique Rufino Marzari Elizalde
(Elizalde), Minera Andes S.A. (MASA), Minera Andes Inc. (MAI) and NAD (S.A.) (NADSA) 

 (the Asset Agreement); 
  

	(b)	the Operating Agreement dated effective March 15, 1995 among MAI, NADSA, MASA and NADI 

 (the Operating Agreement); 
  

	(c)	the letter agreement between NADI and MAI dated May 30, 2003 providing for a lock-up over all shares of MAI held by NADI 

 (the Existing Lock-up Agreement). 
  
 The parties acknowledge that: 
  

	(a)	pursuant to the Asset Agreement, Vargas granted an option to MAI to acquire the one issued and outstanding shares in the capital of MASA held by him (the Vargas Option) and Elizalde
granted an option to MAI to acquire the one issued and outstanding shares in the capital of NADSA held by him (the Elizalde Option); 

  

	(b)	MAI has incorporated a wholly-owned subsidiary, Minera Andes (Cayman) Inc. (MACA); 

  

 3303 N. Sullivan Road    •    Spokane, Washington
99216    •     Phone: (509) 921-7322    •    Fax: (509) 921-7325 

	(c)	MAI has sold to NADI all of the issued and outstanding shares in the capital of NADSA held by it (being all of the issued and outstanding shares of NADSA other than the one share of
NADSA held by Elizalde) and has assigned to NADI the Elizalde Option (collectively, the NADSA Sale) and NADSA is no longer a party to the Operating Agreement; 

  

	(d)	prior to the NADSA Sale, the NAD Properties (as such term is defined in the Asset Agreement) were transferred to MASA; 

  

	(e)	pursuant to the Asset Agreement, the Royalty (as such term is defined in the Asset Agreement) was granted to NADI by MAI and MASA (among others) in respect of the Properties, the
MASA Properties the NAD Properties and any Future Properties (as such terms are defined in the Asset Agreement); 

  

	(f)	attached to this letter agreement as Schedule A is a list of all properties that are, as at the date of this letter agreement, the subject of the Royalty (collectively, the Current
Properties); 

  

	(g)	pursuant to the Asset Agreement, MAI agreed, in certain circumstances, to issue additional common shares in the capital of MAI to NADI as a Bonus (as such term is defined in the
Asset Agreement); and 

  

	(h)	the number of shares that were the subject of the Bonus is equal to 1,213,409 common shares of MAI. 

  
 The purpose of this letter agreement is to set forth the agreement reached by the parties to terminate the Operating Agreement and the
Existing Lock-up Agreement, and to terminate certain provisions of and assign certain benefits under the Asset Agreement. 
  
 As a consequence of the NADSA Sale and the fact that NAD is no longer a party to the Operating Agreement, the agreement of NADSA and of Elizalde are not required in order
to give effect to the transactions contemplated by this letter agreement and they therefore are not parties to this letter agreement. As there are no obligations of Gavin or Vargas arising under the Asset Agreement that have not been performed, the
agreement of Gavin and of Vargas are not required in order to give effect to the transactions contemplated by this letter agreement and they therefore are not parties to this letter agreement. 
  
 In consideration of entering into this letter agreement and the payment to each party by the
other of $1.00 and other good and valuable consideration, but subject to the conditions referred to below, the parties agree as follows: 
  

	1.	Termination of Operating Agreement 

  

	1.1.	The Operating Agreement is terminated effective December 31, 2003 or such earlier date as MAI may direct by notice in writing given to NADI, provided that section 5.9
(Confidentiality) of the Operating Agreement will survive such termination and continue to be binding. 

  

 Settlement Agreement and Lockup - Page 2 

	1.2.	Following termination of the Operating Agreement, NADI will provide one or more accounts to MAI for any outstanding amounts owed under the Operating Agreement and MAI will pay those
accounts promptly following receipt. 

  

	1.3.	Upon termination of the Operating Agreement MAI will vacate the office space currently provided by NADI under the Operating Agreement. 

  

	2.	Transitional Matters 

  

	2.1.	Prior to January 1, 2004, MAI will establish its own accounting system and NADI and MAI will transfer MAI’s accounting data from NADI’s accounting system to MAI’s
accounting system. NADI will cooperate with MAI and any consultants it may retain and will assist MAI in transferring the accounting data to the MAI accounting system. NADI will provide MAI and its auditors with access to the accounting system as
required for the purpose of completing the preparation and audit of MAI’s financial statements for the year ended December 31, 2003. 

  

	2.2.	NADI shall not, unless otherwise consented to in writing by MAI, for a period of five years following the termination of the Operating Agreement, destroy or otherwise dispose of any
books, records, financial or accounting data relating to MAI (the “Records”) without first offering to surrender the Records to MAI. NADI shall provide MAI and its authorized representatives with access to the Records during normal
business hours following the termination of the Operating Agreement upon prior written notice for purposes of tax and other government audits, litigation and other proceedings by and against MAI. 

  

	2.3.	Until December 31, 2003 or for such shorter period as may be requested by MAI, NADI will provide Judi Tallman on a full time basis to assist in transitioning MAI into a self
sufficient operation including training personnel, if needed. Subsequently, NADI will enable Judi Tallman to provide such assistance as may be reasonably required by MAI in preparing its financial statements and preparing and making other regulatory
filings until December 31, 2004, including without limitation its annual report on Form 10K-SB. 

  

	2.4.	NAD will provide MAI with such assistance as is necessary for MAI to produce its annual financial statements for the year ended December 31, 2003, including entering data into
NAD’s accounting system so as to allow production of the statements. 

  

	2.5.	Until December 31, 2003, or for such shorter period as may be requested by MAI, NADI will provide MAI with payroll and benefits (including retirement and medical plans) services.

  

	2.6.	NADI will bill MAI for any out-of-pocket expenses of NADI in providing the transitional services referred to in this Section 2 and MAI will pay those accounts promptly following
receipt. 

  

	3.	Board of Directors 

  

	3.1.	The parties acknowledge that NADI has never had and, upon termination of the Operating Agreement will not have, any right to nominate persons for election as a director of MAI or to
otherwise have any board representation. 

  

 Settlement Agreement and Lockup - Page 3 

	4.	Lock-up Agreement 

  

	4.1.	The Existing Lock-up Agreement is terminated effective immediately. 

  

	4.2.	MAI covenants and agrees with NADI that it will continue to assist NADI in identifying a suitable buyer for some or all of the common shares of MAI held by NADI and to discuss with
NADI alternatives that are available for such a sale, provided that MAI shall have no obligation to include such shares as part of any public offering or private placement undertaken by MAI. NADI agrees to liaise with MAI with respect to any
proposed sale by NADI of is shares so as not to disrupt an orderly market for MAI’s common shares and so as to minimize any effect upon MAI’s own capital raising efforts. 

  

	5.	The Asset Agreement – Assignment of Royalty and Cancellation of Bonus 

  

	5.1.	NADI hereby represents and warrants to MACA that it has not previously sold, assigned or transferred the Royalty to any other party or in any way encumbered the Royalty. NADI and
MACA acknowledge that no amounts have been paid (nor have any amounts been required to have been paid) under the Royalty to the date of this letter agreement. 

  

	5.2.	NADI hereby agrees to sell, assign and transfer to MACA and MACA hereby agrees to purchase all of NADI’s right, title and interest in the Royalty, effective the date that MACA
provides to NADI a notice of transfer, together with payment in accordance with section 5.5(a). 

  

	5.3.	All parties acknowledge that the Royalty covers only the Current Properties and that, effective upon the transfer referred to in section 5.2, it will be held by MACA. 

  

	5.4.	Effective upon completion of the transfer of the Royalty pursuant to section 5.2, NADI hereby releases MAI and the other parties to the Asset Agreement from any obligation to issue
the shares comprised in the Bonus and the parties agree that such obligation will be extinguished. 

  

	5.5.	MAI and MACA agree to pay to NADI: 

  

	 	(a)	forthwith after receipt of the approvals referred to below under Conditions and written notice by MACA to NADI under section 5.2, the sum of US$500,000; and

  

	 	(b)	forthwith after written notice by MACA to NADI under section 5.2 and: 

  

	 	(i)	receipt by MAI or any of its subsidiaries of a Bankable Feasibility (as such term is defined in the Asset Agreement), or 

  

	 	(ii)	if no Bankable Feasibility is prepared, upon attaining commercial production; 

  

in respect of any of the Current Properties other than those properties listed in paragraph 2(b) of Schedule A (which are the properties that comprise
the San José project), the sum of US$250,000, provided that the obligation to make this additional payment: 
  

 Settlement Agreement and Lockup - Page 4 

	 	(iii)	shall expire on the tenth anniversary of the date on which MAI becomes obligated to make the payment to NADI referred to in paragraph (a) immediately above;

  

	 	(iv)	shall not extend to any Current Property that MAI abandons or in respect of which MAI determines to allow its rights to lapse; 

  

	 	(v)	for greater certainty, shall extend to any Current Property that MAI sells; and 

  

	 	(vi)	shall only arise once, in respect of the first of the Current Properties to satisfy the conditions set out in clauses (i) or (ii) immediately above. 

  

	6.	Conditions 

  

	6.1.	This Agreement is conditional upon approval by the board of directors of MAI and approval by the independent directors of MAI. 

  

	6.2.	The parties agree that: 

  

	 	(a)	the provisions of Section 4 of this letter agreement take effect immediately after NADI receives notice of the approval referred to in section 6.1 and are not subject to any other
condition; and 

  

	 	(b)	the provision of Sections 1, 2 and 5 are subject to the condition in Section 6.1 and receipt by MAI of the approval of the TSX Venture Exchange (the TSXV) and, if required by the
TSXV, the approval of the shareholders of MAI. The parties agree to exercise all commercially reasonable efforts to obtain such approvals on a timely basis. 

  

	7.	General  

  

	7.1.	Any notice to be given hereunder shall be in writing and shall be delivered in person or transmitted by facsimile or other means of recorded electronic communication to the address
of each party show below next to their signature or to such other address or addresses as any such party may from time to time designate for itself by like notice. 

  
 Any such notice or other communication shall be deemed to have been given and received on the day on which it was delivered
or transmitted or, if such day is not a business day in the place of receipt, on the next following business day. 
  

	7.2.	The parties agree to execute and deliver all such further documents and to do all such other acts and things that may be necessary or desirable, or that another party may reasonably
request, from time to time in order to give effect fully to the provisions and intent of this letter agreement. 

  

	7.3.	This letter agreement shall be governed by the laws of Washington State. The parties hereto hereby attorn to the non-exclusive jurisdiction of the Courts of Washington State.

  

 Settlement Agreement and Lockup - Page 5 

	7.4.	This letter agreement shall enure to the benefit of and be binding upon the parties hereto and their respective legal representatives, successors and permitted assigns. No party
hereto may assign or transfer all or any part of its rights hereunder or any interest therein without the prior written consent of the other parties from whom the rights in question are derived, such consent not to be unreasonably withheld.

  

	7.5.	Time shall be of the essence of this letter agreement. 

  

	7.6.	This letter agreement may be signed in as many counterparts as may be necessary, each of which so signed shall be deemed to be an original, and such counterparts together shall
constitute one and the same instrument. Executed copies of this letter agreement may be delivered by facsimile transmission and it shall not be necessary to confirm execution by delivery of originally executed documents. 

  

	7.7.	Each party shall pay any expenses incurred by it incident to this letter agreement and preparing to consummate the transactions provided for herein. 

  

 Settlement Agreement and Lockup - Page 6 

	7.8.	If the foregoing accurately sets forth the agreement we have reached, please sign a copy of this letter and return it to us. 

  
 Yours truly 
  

					
	MINERA ANDES INC.	  	 Address for Notice:
 3303 North Sullivan Road
 Spokane,
Washington
 USA 99216
 Fax: (509) 921-7325

	 	  	 	  
	 	  	 	  
	 By:
	  	 /s/ Allen V. Ambrose

	  
	 	  	 President
	  	 

  
 Date:   December 2, 2003 
  
 We agree to the foregoing: 
  

					
	N.A. DEGERSTROM, INC.	  	 Address for Notice:
 3303 N. Sullivan Road
 Spokane, WA 99216
 Fax: (509) 927-2010

	  
 By:
	  	  
 /s/ James A.
Fish

	  
	 	  	 Title: Vice President
	  
	 Date:
	  	 December 2, 2003
	  
		
	MINERA ANDES S.A.	  	 Address for Notice:
 c/o Minera Andes Inc.
 3303 N. Sullivan Road
 Spokane, WA 99216
 Fax: (509) 921-7325

	  
 By:
	  	  
 /s/ Brian
Gavin

	  
	 	  	 Title: Apoderado
	  
	 Date:
	  	 December 2, 2003, 2003
	  
		
	MINERA ANDES (CAYMAN) INC.	  	 Address for Notice:
 c/o Minera Andes Inc.
 3303 N. Sullivan Road
 Spokane, WA 99216
 Fax: (509) 921-7325

	  
 By:
	  	  
 /s/ Allen V.
Ambrose

	  
	 	  	 Title:
	  
	 Date:
	  	 December 2, 2003
	  

  

 Settlement Agreement and Lockup - Page 7 

 SCHEDULE A 
  
 Set forth below is a description of the current properties: 
  
 Properties are held either directly by Minera Andes S.A. (“MASA”) or indirectly
through MASA’s ownership of 49% of Minera Santa Cruz S.A. (“MSC”). MSC is the holding and operating company for the San José project, a joint venture between Minera Andes Inc. (“MAI”) and Mauricio Hochschild y
Compañia Limitada (“MHC”). The San José project includes the Huevos Verdes area. 
  

	1.	San Juan Province 

  
 The following properties are owned by Minera Andes S.A. 
  

	(a)	Cateos 

  

					
	 File Number

	  	Department

	  	Area (Hectares)

	 545.955-D-94
	  	Calingasta	  	7,200 has
	 545.957-D-94
	  	Calingasta	  	1,920 has
	 545.996-D-94
	  	Calingasta	  	4,900 has
	 545.997-D-94
	  	Calingasta	  	9,750 has
	 545.949-N-94
	  	Calingasta	  	8,800 has
	 545.995-N-94
	  	Calingasta	  	3,500 has

  

	(b)	Manifestations of Discovery 

  

					
	 File Number

	  	Department

	  	Area (Hectares)

	 520-0358-97
	  	Calingasta	  	4,980 has
	 520-0963-97
	  	Calingasta	  	1,200 has
	 520-0279-98
	  	Calingasta	  	2,098 has
	 520-0280-98
	  	Calingasta	  	1,320 has
	 0229-F-28
	  	Calingasta	  	4,987.5 has
	 0952-F-28
	  	Calingasta	  	7,62.5 has
	 0953-F-28
	  	Calingasta	  	1,000 has
	 0954-F-28
	  	Calingasta	  	1,000 has
	 0955-F-28
	  	Calingasta	  	1,000 has
	 0956-F-28
	  	Calingasta	  	1,000 has
	 0230-F-28
	  	Calingasta	  	3,500 has

	2.	Santa Cruz Province 

  

	(a)	Minera Andes S.A. 

  
 The following properties are owned by Minera Andes S.A. 
  

	i.	Cateos 

  

					
	 File Number

	  	Name

	  	Area (Hectares)

	 406081/MA/02
	  	Lago de Olín	  	1,400 has
	 406082/MA/02
	  	La Taba	  	2,000 has
	 406083/MA/02
	  	La Española	  	1,500 has
	 406084/MA/02
	  	El Meridiano	  	2,000 has
	 406085/MA/02
	  	Sierrra Morena	  	4,000 has
	 406086/MA/02
	  	San Agustín	  	3,900 has
	 406087/MA/02
	  	Las Lomas	  	2,400 has
	 406088/MA/02
	  	La Mata	  	5,000 has
	 406089/MA/02
	  	La Huella	  	3,445 has
	 406090/MA/02
	  	El Truma	  	2,450 has
	 406091/MA/02
	  	C° Mojon	  	5,850 has
	 406092/MA/02
	  	C° Dos Aguadas	  	3,420 has
	 406093/MA/02
	  	C° Botellón	  	2,000 has
	 406094/MA/02
	  	Bajo de los Calafates	  	1,500 has
	 406350/MA/02
	  	Oeste	  	5,067 has
	 406347/MA/02
	  	Este	  	4,746 has
	 407541/MA/03
	  	El Truma II	  	3,824 has

  

	ii.	Manifestations of Discovery 

  

					
	 File Number

	  	Name

	  	Area (Hectares)

	 411.338/MA/99
	  	Dos A	  	999.6 has
	 411.337/MA/99
	  	Dos B	  	999.6 has
	 411.336/MA/99
	  	Dos C	  	999.6 has
	 411.335/MA/99
	  	Dos D	  	501.2 has
	 412.847/MA/00
	  	Seis D	  	869.75 has
	 412.848/MA/99
	  	Siete B	  	750 has
	 414.783/MA/00
	  	Once D	  	900 has
	 413.101/MA/00
	  	Cuatro A	  	750 has
	 413.102/MA/00
	  	Cuatro B	  	750 has
	 413.103/MA/00
	  	Cuatro C	  	675 has
	 413.104/MA/00
	  	Nueve A	  	1.000 has
	 414.285/MA/00
	  	Ocho C	  	874 has
	 414.268/MA/00
	  	Nueve B	  	1.000 has
	 414.269/MA/00
	  	Nueve C	  	671.5 has
	 414.270/MA/00
	  	Nueve D	  	671.5 has
	 400.244/MA/01
	  	Seis E	  	900 has
	 400.245/MA/01
	  	Seis G	  	817 has
	 404.639/MA/01
	  	Cinco F	  	1,022 has
	 401.504/MA/01
	  	Cinco I	  	930 has

					
	 File Number

	  	Name

	  	Area (Hectares)

	 401.218/MA/01
	  	Dos H	  	911.35 has
	 401.219/MA/01
	  	Dos I	  	797.1 has
	 402.318/MA/01
	  	Seis H	  	994 has
	 402.316/MA/01
	  	Seis I	  	994 has
	 402.317/MA/01
	  	Seis J	  	887 has
	 414.525/MA/00
	  	Dos E	  	911.35 has
	 414.526/MA/00
	  	Dos F	  	990 has
	 414.524/MA/00
	  	Dos G	  	990 has
	 401.220/MA/01
	  	Dos J	  	900 has
	 413.099/MA/00
	  	Cinco B	  	950 has
	 413.100/MA/00
	  	Cinco C	  	490.6 has

  

	(b)	Minera Santa Cruz S.A. 

  
 The following properties are owned by Minera Santa Cruz S.A., which owns the following properties as part of the San José Project, a joint venture with Mauricio Hochschild y Compañía Limitada.

  

	i.	Cateos 

  

					
	 File Number

	  	Name

	  	Area (Hectares)

	 403089/MSC/01
	  	Cateo	  	10,200 has

  

	ii.	Manifestations of Discovery 

  

					
	 File Number

	  	Name

	  	Area (Hectares)

	 410089/MA/99
	  	Saavedra 5	  	800 has
	 410090/MA/99
	  	Saavedra 7a	  	1,000 has
	 410091/MA/99
	  	Saavedra 2a	  	1,000 has
	 410092/MA/99
	  	Saavedra 8	  	1,000 has
	 410093/MA/99
	  	Saavedra 1a	  	1,000 has
	 410094/MA/99
	  	Saavedra 6b	  	800 has
	 410095/MA/99
	  	Saavedra 4	  	800 has
	 410096/MA/99
	  	Saavedra 3	  	800 has
	 410411/MA/99
	  	El Pluma 1	  	750 has
	 410412/MA/99
	  	El Pluma E1	  	1,000 has
	 411331/MA/99
	  	Tres Colores B	  	998.5 has
	 411332/MA/99
	  	Tres Colores A	  	1,000 has
	 411333/MA/99
	  	Tres A	  	1,000 has
	 411334/MA/99
	  	Tres B	  	750 has
	 412277/MA99
	  	El Pluma 2	  	1,000 has
	 412278/MA/99
	  	El Pluma E2	  	1,000 has
	 412279/MA/99
	  	El Pluma 3	  	750 has
	 412280/MA/99
	  	El Pluma E3	  	800 has
	 412281/MA/99
	  	El Pluma 4	  	1,000 has
	 413095/MA/00
	  	Uno A	  	840 has
	 413096/MA/00
	  	Uno B	  	840. has
	 413097/MA/00
	  	Uno C	  	820.2 has
	 413395/MA/00
	  	Saavedra 10	  	1,000. has

					
	 File Number

	  	Name

	  	Area (Hectares)

	 413396/MA/00
	  	Saavedra 9	  	1,000. has
	 414264/MA/00
	  	Tres C	  	980. has
	 414265/MA/00
	  	Tres D	  	770.13 has
	 414266/MA/00
	  	Tres E	  	999.93 has
	 414267/MA/00
	  	Tres F	  	999.93 has
	 414639/MA/00
	  	Tres Colores G	  	397.5 has
	 414640/MA/00
	  	Tres Colores D	  	90. has
	 414641/MA/00
	  	Tres Colores F	  	901 has
	 414642/MA/00
	  	Tres Colores C	  	901 has
	 414643/MA/00
	  	Tres Colores E	  	901 has
	 400625/MA/01
	  	SaavNE1	  	1,000 has
	 400626/MA/01
	  	SaavNE2	  	1,000 has
	 400627/MA/01
	  	SaavNE3	  	500 has
	 400764/MA/01
	  	Uno F	  	594 has
	 400765/MA/01
	  	Uno D	  	840. has
	 400766/MA/01
	  	Uno E	  	840 has
	 401507/MA/01
	  	Uno G	  	1,103.7 has
	 401508/MA/01
	  	Uno H	  	560.4 has
	 401509/MA/01
	  	Uno I	  	560.4 has
	 401874/MA/01
	  	Saavedra 11	  	1,000 has
	 401875/MA/01
	  	Saavedra 12	  	1,000 has
	 401876/MA/01
	  	Saavedra 13	  	1,000 has
	 401877/MA/01
	  	Saavedra 14	  	1,000 has

  

	3.	Chubut Province 

  
 The following properties are owned by Minera Andes S.A. 
  

	(a)	Cateos 

  

					
	 File Number

	  	Name

	  	Area (Hectares)

	 13127/97
	  	La María	  	4,000 has
	 13309/98
	  	El Valle 2	  	2,750 has
	 13970/02
	  	El Triunfo	  	2,600 has
	 13971/02
	  	Los Zorros	  	3,998.5 has
	 13972/02
	  	Los Zorros II	  	4,805 has
	 13973/02
	  	El Montero	  	1,500 has
	 13974/02
	  	La Morena	  	2,430 has
	 13975/02
	  	La Morena Este	  	1,485 has
	 13976/02
	  	Cerro Negro Oeste	  	980 has
	 13977/02
	  	Cerro Negro Norte	  	1,482 has
	 13978/02
	  	Estancia Shaman	  	1,800 has
	 13979/02
	  	El Mogote	  	1,480 has

  

	(b)	Manifestations of Discovery 

  

					
	 File Number

	  	Name

	  	Area (Hectares)

	 13658/01
	  	La Maria I	  	1,600 has
	 13659/01
	  	La María II	  	1,600 has
	 13660/01
	  	La María III	  	1,600 has
	 13749/01
	  	Valle Uno a	  	625 has
	 13750/01
	  	Valle Uno b	  	625 has
	 13751/01
	  	Valle Uno c	  	625 has
	 13752/01
	  	Valle Dos a	  	900 has
	 13753/01
	  	Valle Dos b	  	900 has
	 13754/01
	  	Valle Dos c	  	900 has
	 13755/01
	  	Valle Dos d	  	100 has
	 13759/01
	  	Valle Uno d	  	625 has
	 13792/02
	  	La María IV	  	1,600 has
	 13793/02
	  	La María V	  	1,600 has
	 13794/02
	  	La María VI	  	1,600 has
	 13796/02
	  	Valle Dos e	  	900 has
	 13797/02
	  	Valle Dos f	  	900 has
	 13798/02
	  	Valle Dos g	  	900 has
	 14088/03
	  	Valle Dos h	  	1,600 has
	 14089/03
	  	Valle Dos i	  	400 has

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00064-of-00352.parquet"}]]