Document:

Exhibit 10.2

 

PERSHING GOLD CORPORATION
 2012 Equity Incentive Plan

 

FIRST AMENDMENT TO AMENDED AND RESTATED

RESTRICTED STOCK AGREEMENT
 (Non-Assignable)

 

This First Amendment, dated as of December 23, 2013 (this “Amendment”), to the Amended and Restated Restricted Stock Agreement, dated as of May 13, 2013 (the “Agreement”), is entered into by and between Stephen Alfers (“Holder”) and Pershing Gold Corporation, a Nevada corporation (the “Corporation”).

 

A.                                    Pursuant to the Agreement, Holder was granted, on June 18, 2012, One Million One Hundred Seven Thousand Four Hundred Ninety (1,107,490) shares (the “Shares”) of the Restricted Stock, par value $0.0001 per Share, of the Corporation pursuant to and subject to the terms of the Corporation’s 2012 Equity Incentive Plan (“Plan”).

 

B.                                    The Corporation and Holder have agreed to amend the Agreement as set forth herein.

 

NOW, THEREFORE, in consideration for good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                                      Amendment to Restricted Stock Agreement.  The Agreement is hereby amended by deleting Section 1 thereof and replacing it with the following:

 

1.                                      Vesting Schedule.  The Shares shall be subject to the following vesting provisions.  All vesting is subject to claw-backs (as set forth in Section 2 herein) in the event of any breach of Corporate policy, restatements and/or adjustments, and the terms of the Plan including Section 6(f) (Termination of Employment).  Notwithstanding anything herein to the contrary, all vested shares may be exercised and disposed of not sooner than six months following the date hereof.

 

	
Percentage of Shares to
   Vest
    	
 
    	
Date of Vesting
    	
 
    
	
33.33
    	
%
    	
December 26, 2013
    	
 
    
	
33.33
    	
%
    	
June 18, 2014
    	
 
    
	
33.34
    	
%
    	
June 18, 2015
    	
 
    

 

2.                                      No Other Changes.  Except for the amendment contained in Section 1 hereof, the Agreement is hereby ratified and confirmed and shall continue in full force and effect without any further amendments or changes.

 

3.                                      Counterparts.  This Amendment may be executed in counterparts each of which taken together shall constitute one and the same instrument.

 

1

 

4.                                      Governing Law.  This Amendment shall be governed by, and construed and enforced in accordance with, the internal laws of the State of Nevada without reference to principles of conflicts of laws.

 

[SIGNATURE PAGE FOLLOWS]

 

2

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the date first above written.

 

 

	
 
    	
HOLDER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Stephen Alfers
    
	
 
    	
Stephen   Alfers
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PERSHING   GOLD CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Eric Alexander
    
	
 
    	
Name:
    	
Eric   Alexander
    
	
 
    	
Title:
    	
Vice   President of Finance and Controller
    

 

3Exhibit 10.3

 

PERSHING GOLD CORPORATION

 

SECOND AMENDMENT TO

EXECUTIVE EMPLOYMENT AGREEMENT

 

This Second Amendment, dated as of December 23, 2013 (this “Amendment”), to the Executive Employment Agreement, dated as of February 9, 2012 and as amended pursuant to the First Amendment to the Executive Employment Agreement on February 8, 2013 (the “Agreement”), is entered into by and between Stephen Alfers (“Executive”) and Pershing Gold Corporation (formerly Sagebrush Gold Ltd.), a Nevada corporation (the “Corporation”).

 

A.                                    Pursuant to the Executive Employment Agreement, dated as of February 9, 2012, Executive was granted Twelve Million (12,000,000) shares (the “Shares”) of Restricted Stock, par value $0.0001 per Share, of the Corporation pursuant to and subject to the terms of the Corporation’s 2012 Equity Incentive Plan (the “Plan”).

 

B.                                    Pursuant to the First Amendment to the Executive Employment Agreement, dated as of February 8, 2013, the vesting of certain of the Shares was deferred until March 14, 2014.

 

C.                                    The Corporation and Executive has agreed, to amend the Agreement as set forth herein.

 

NOW, THEREFORE, in consideration for good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                                      Amendments to Executive Employment Agreement.  The Agreement is hereby further amended as follows:

 

A.                                    Exhibit A to the Agreement is deleted in its entirety and replaced with Exhibit A attached hereto.

 

2.                                      No Other Changes.  Except for the amendments contained in Section 1 hereof, the Agreement is hereby ratified and confirmed and shall continue in full force and effect without any further amendments or changes.

 

3.                                      Counterparts.  This Amendment may be executed in counterparts each of which taken together shall constitute one and the same instrument.

 

4.                                      Governing Law.  This Amendment shall be governed by, and construed and enforced in accordance with, the internal laws of the State of Nevada without reference to principles of conflicts of laws.

 

[SIGNATURE PAGE FOLLOWS]

 

1

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the date first above written.

 

 

	
 
    	
EXECUTIVE:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Stephen Alfers
    
	
 
    	
Stephen   Alfers
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PERSHING   GOLD CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Eric Alexander
    
	
 
    	
Name:
    	
Eric   Alexander
    
	
 
    	
Title:   
    	
Vice   President of Finance and Controller
    

 

2

 

Exhibit A

 

Vesting of Restricted Stock Grant

 

i.                  3,000,000 shares of restricted common stock shall vest February 9, 2014

ii.               6,000,000 shares of restricted common stock (including the Registrable Equity Grant) shall vest on December 26, 2013; and

iii.            3,000,000 shares of restricted common stock shall vest February 9, 2015.mineralriteexh10_1.htm

EXHIBIT 10.1

 

 

MINERALRITE CORPORATION

Amended and Restated 2012 Stock Incentive Plan

This Amended and Restated 2012 Stock Incentive Plan (the “Plan”) is made as of the 5th day of December 2013, by MineralRite Corporation., a Nevada corporation (the "Company"), for the Company's employees and consultants (“the Recipients”).

RECITALS:

The Company hereby amends and restates the 2012 Stock Incentive Plan. The Company desires under agreement to grant compensation to Recipients, in exchange for services provided to the Company, in the form of shares of the Company's Common Stock (the "Common Stock"), pursuant to the provisions set forth herein;

 

1.          Grant of Shares. The Company shall grant to the Recipients from time to time the following shares of the Company's Stock (the "Shares"):

	
CLASS OF STOCK

	
NUMBER OF SHARES

	
Common Shares

	
7,000,000

2.          Services. Recipients shall provide bona fide services to the Company not in connection with capital-raising, promotional or investor relations activities. Recipients shall provide bona fide services to the Company which do not relate directly or indirectly to promotion or maintenance of a market in the Company’s Common Shares.

 

3.          Compensation. Recipients' compensation is the Shares identified herein. Recipients are responsible for all income taxes.

 

4.          Registration or Exemption. Notwithstanding anything to the contrary contained herein, the Shares will be registered on Form S-8 Registration Statement dated on or about December 5, 2013.

 

5.          Delivery of Shares. The Company shall deliver to the Recipients such shares for services pursuant to written agreements for services between the Company and each Recipient.

 

6.          Waiver. No waiver is enforceable unless in writing and signed by such waiving party and any waiver shall not be construed as a waiver by any other party or of any other or subsequent breach.

 

7.          This Plan may be amended from time to time by the Company's Board of Directors.

 

8.          Governing Law. This Plan shall be governed by the laws of the State of Nevada.

 

9.          Assignment and Binding Effect. Neither this Plan nor any of the rights, interests or obligations hereunder shall be assigned by any Recipient hereto without the prior written consent of the Company's Board of Directors, except as otherwise provided herein.

 

10.        This Plan shall be binding upon and for the benefit of the parties hereto and their respective heirs, permitted successors, assigns and/or delegates.

 

11.        Integration and Captions. This Plan includes the entire understanding of the parties hereto with respect to the subject matter hereof. The captions herein are for convenience and shall not control the interpretation of this Plan.

 

 

  

  

  

 

 

12.        Legal Representation. Each party has been represented by independent legal counsel in connection with this Plan, or each has had the opportunity to obtain independent legal counsel and has waived such right, and no tax advice has been provided to any party.

 

13.        Construction. Each party acknowledges and agrees having had the opportunity to review, negotiate and approve all of the provisions of this Plan.

 

14.        Cooperation. The parties agree to execute such reasonable necessary documents upon advice of legal counsel in order to carry out the intent and purpose of this Plan as set forth herein above.

 

15.        Handwritten Provisions. Any handwritten provisions hereon, if any, or attached hereto, which have been initialed by all of the parties hereto, shall control all typewritten provisions in conflict therewith.

 

16.        Fees, Costs and Expenses. Each of the parties hereto acknowledges and agrees to pay, without reimbursement from the other party (ies), the fees, costs, and expenses incurred by each such party incident to this Plan.

 

17.        Consents and Authorizations. By the execution herein below, each party (i) acknowledges and agrees that each such party has the full right, power, legal capacity and authority to enter into this Plan, and the same constitutes a valid and legally binding Plan of each such party in accordance with the terms, conditions and other provisions contained herein; and (ii) acknowledges the receipt of an executed copy hereof, and made a part hereof by this reference.

 

18.        Gender and Number. Unless the context otherwise requires, references in this Plan in any gender shall be construed to include all other genders, and references in the singular shall be construed to include the plural and vice-versa.

 

The undersigned representing sufficient voting power of the Board of Directors of the Corporation have duly approved this Plan on December 27, 2013.

 

 

 

	  	
MINERALRITE CORPORATION

	 
	  	  	  	 
	  	  	  	 
	  	
By:

	
/s/ GUY PECKHAM

	 
	  	  	
Guy Peckham

	 
	  	  	
Chief Executive Officer

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