Document:

Exhibit 10.49

 

RAFAELLA
APPAREL GROUP, INC.

EQUITY INCENTIVE PLAN

AWARD AGREEMENT

 

RAFAELLA APPAREL GROUP, INC. (the “Company”)
hereby grants to Richard Metzger (the “Participant”)
the following option (the “Option”) to
purchase shares of the common stock of the Company (the “Shares”),
subject to the following terms and conditions and pursuant to the Rafaella
Apparel Group, Inc. Equity Incentive Plan (the “Plan”).

 

Grant
Date:            October 13, 2010
(“Grant Date”)

 

Option
Price:         $5.33  per Share (“Option Price”)

 

Number
of Shares:               111,111

 

Expiration
Date:    Tenth anniversary of the
Grant Date (the “Option Period”)

 

Relationship
to the Plan:     This
Option is granted pursuant to the Plan and is in all respects subject to the
terms, conditions and definitions of the Plan (including, but not limited to,
provisions concerning exercise, restrictions on Options, termination,
nontransferability and adjustment of the number of Shares).  The Participant hereby accepts this Option
subject to all the terms and provisions of the Plan.  The Participant further agrees that all
decisions under and interpretations of the Plan by the Administrator shall be
final, binding and conclusive upon the Participant and his or her heirs.  All capitalized terms used herein and not
otherwise defined herein shall have the same meanings ascribed to them in the
Plan.  If there is any inconsistency
between the terms of this Award Agreement and the terms of the Plan, the Plan’s
terms shall completely supersede and replace the conflicting terms of this Award
Agreement.

 

The
Participant hereby acknowledges receipt of a copy of the Plan attached hereto
as Annex A as presently in effect, but as may be amended from time to
time.  This Award Agreement and the Plan
constitute the entire agreement of the parties with respect to the subject
matter hereof, and supersede any prior written or oral agreement.

 

Vesting
Schedule.  One quarter
of the Shares subject to the Option shall vest on each of the first, second,
third and fourth anniversaries of the Grant Date (each, a “Vesting Date”),
provided that the Participant remains employed by the Company on each
applicable Vesting Date on an active and full-time basis.

 

Vesting
upon a Liquidity Event.  In
the event of a Liquidity Event, Section 8 of the Plan shall apply to the
Option.

 

Exercisability
of Option.  During the
Option Period, unless otherwise provided in this Award Agreement or the Plan,
this Option shall entitle the Participant to purchase, in whole or at any time
or in part from time to time, to the extent the Option is vested in accordance
with the vesting schedule herein, the Shares subject to this Option, and each
such right of purchase shall be cumulative and shall continue, unless sooner
exercised or terminated as herein provided. 
Any fractional number of Shares resulting from the application of the
foregoing percentages shall be 

 

 

rounded
to the next higher whole number of Shares, but shall not exceed the total
number of Shares covered by this Option.

 

Manner
of Exercise and Payment. 
Subject to the terms and conditions of this Award Agreement and the
Plan, this Option may be exercised by delivery of written notice to the
Secretary of the Company, at the Company’s principal executive office in the
form of Annex B.  Such notice
shall state (i) that the person exercising this Option is entitled to
exercise this Option, (ii) that such person is electing to exercise this
Option and (iii) the number of Shares in respect of which this Option is
being exercised.  Such person or persons
shall (i) deliver this Award Agreement to the Secretary of the Company who
shall endorse thereon a notation of such exercise and (ii) provide
satisfactory proof as to the right of such person or persons to exercise the
Option.

 

The
Participant shall not be deemed to be the holder of, or to have any of the
rights of a holder with respect to, any Shares subject to this Option until
this Option shall have been exercised pursuant to the terms of this Award
Agreement and the Participant shall have paid the full Option Price for the number
of Shares in respect of which this Option was exercised.

 

The
option exercise price of the Shares as to which an Option shall be exercised
shall be paid to the Company at the time of exercise in cash, by certified
check or by such other method permitted by the Administrator, in its sole
discretion, as may be allowed under applicable law.

 

Withholding
of Taxes.  The Company
shall have the right to deduct from any distribution of cash to the Participant
an amount equal t the federal, state and local income taxes and other amounts
as may be required by law to be withheld (the “Withholding
Taxes”) with respect to this Option. 
If the Participant is entitled to receive Shares upon exercise of this
Option, the Participant shall pay the Withholding Taxes to the Company in cash
prior to the issuance of such Shares.

 

Repurchase
Right.  The Option and any Shares held
by a Participant shall be subject to the repurchase right set forth under
Section 10 of the Plan.

 

Transferability.  The Option shall be subject to the transfer
restrictions contained in Section 6(h) of the Plan and the Shares
shall be subject to the transfer restrictions contained in Section 9 of
the Plan.

 

No
Employment or Service Contract.  Nothing in this Award Agreement or in the
Plan shall confer upon the Participant any right to continue such Participant’s
relationship with the Company or a Subsidiary (as defined below) or Affiliate
thereof, nor shall it give any Participant the right to be retained in the
employ of the Company or a Subsidiary or Affiliate or interfere with or
otherwise restrict in any way the rights of the Company or a Subsidiary or
Affiliate, which rights are hereby expressly reserved, to terminate any
Participant’s employment or relationship at any time for any reason, except as
may be set forth in an employment or other agreement between the Participant
and the Company or a Subsidiary or Affiliate of the Company.

 

“Subsidiary” shall mean any corporation, partnership, limited
liability company, joint venture or other legal entity of which the Company
owns, directly or indirectly, 50% or more of 

 

2

 

the
stock or other equity interests the holders of which are generally entitled to
vote for the election of the board of directors or other governing body of such
corporation or other legal entity.

 

Modification
of Award Agreement.  This
Agreement may be modified, amended, suspended or terminated, and any terms or
conditions may be waived, but only by a written instrument executed by the parties
hereto.

 

Severability.  Should any provision of this Agreement be
held by a court of competent jurisdiction to be unenforceable or invalid for
any reason, the remaining provisions of this Agreement shall not be affected by
such holding and shall continue in full force in accordance with their terms.

 

Governing
Law.  The validity, interpretation,
construction and performance of this Award Agreement shall be governed by the
laws of the State of New York without giving effect to the conflicts of laws principles
thereof.

 

 

Accepted
and Agreed:

 

	
  PARTICIPANT

  	
   

  	
  RAFAELLA APPAREL GROUP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  Richard Metzger

  	
   

  	
  By:

  	
  /s/
  Christa Michalaros

  
	
  Richard
  Metzger

  	
   

  	
   

  	
  Name:

  	
  Christa
  Michalaros

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Attachments:

  	
  Annex
  A (The Plan)

  	
   

  	
   

  
	
   

  	
  Annex
  B (Form of Exercise Notice)

  	
   

  	
   

  
						

 

 

Dated:
October 13, 2010

 

3

 

ANNEX A

 

RAFAELLA
APPAREL GROUP, INC.

EQUITY INCENTIVE PLAN

 

 

ANNEX B

 

RAFAELLA
APPAREL GROUP, INC.

EQUITYI NCENTIVE PLAN

 

Notice of
Exercise of Option

 

1.             Exercise of
Option. Pursuant to the Rafaella Apparel Group, Inc. Equity Incentive
Plan (the “Plan”) and my Award Agreement
thereunder, dated October 13, 2010 (the “Agreement”), I
hereby elect to exercise my option (the “Option”) to the
extent of
                    
Shares.

 

2.             Delivery of
Payment. I hereby deliver to the Company a cashier’s check in the amount of
US Dollars
$                        
in full payment of the purchase price of the Shares determined by multiplying (a) the
exercise price per Share as set forth in my Agreement, by (b) the number
of Shares as to which 1 am exercising the Option and in satisfaction of my
obligation to remit to the Company an amount sufficient to satisfy any
withholding tax obligations of the Company that arise in connection with this
exercise, or through such other payment method agreed to by the Company and
permitted under the terms of the Plan.

 

3.             Representations.
In connection with my exercise of the Option, I hereby represent to the Company
as follows:

 

(a)           I am acquiring the
Shares solely for investment purposes, with no present intention of
distributing or reselling any of the Shares or any interest therein. I
acknowledge that the Shares have not been registered under the Securities Act
of 1933, as amended.

 

(b)           I am aware of the
Company’s and its Subsidiaries’ business affairs and financial condition and
have acquired sufficient information about the Company and its Subsidiaries to
reach an informed and knowledgeable decision to acquire the Shares.

 

(c)           I understand that
the Shares are “restricted securities” under applicable U.S. federal and state
securities laws and that, pursuant to these laws, I must hold the Shares
indefinitely unless they are registered with the Securities and Exchange
Commission and qualified by state authorities, or unless an exemption from such
registration and qualification requirements is available. I acknowledge that
the Company has no obligation to register or qualify the Shares for resale. I
further acknowledge that if an exemption from registration or qualification is
available, it may be conditioned on various requirements including, but not
limited to, the time and manner of sale, the holding period for the Shares, and
requirements relating to the Company which are outside of my control, and which
the Company is under no obligation to and may not be able to satisfy.

 

(d)           I understand that
there is no public market for the Shares, that no market may ever develop for
them, and that the Shares have not been approved or disapproved by the
Securities and Exchange Commission or any other federal, state or other
governmental agency.

 

(e)           I understand that
the Shares are subject to certain restrictions on transfer set forth in the
Plan. Both the Plan and the Agreement are incorporated herein by reference.

 

 

(f)            I have consulted my
own tax advisors in connection with my exercise of this Option and I am not
relying upon the Company for any tax advice.

 

 

	
   

  	
   

  	
  Submitted
  by the Optionholder:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Print
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Social
  Security No.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Received
  and Accepted by the Company:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  RAFAELLE
  APPAREL GROUP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Print
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
							

 

Note:  If Options are being exercised on behalf of a
deceased Plan Participant, then this Notice must be signed by such Participant’s
personal representative and must be accompanied by a certificate issued by an
appropriate authority evidencing that the individual signing this Notice has
been duly appointed and is currently serving as the Participant’s personal
representative under applicable local law governing decedents’ estates.

 

2guinnessexh10_1.htm

Exhibit 10.1

 

NANTAWA MODIFICATION AGREEMENT

THIS AGREEMENT is dated for reference this 12th day of October, 2010

BETWEEN:

EAGLE TRAIL PROPERTIES INC., a company incorporated

under the laws of Saskatchewan, having an office at 1140

Rose Street, Regina, Saskatchewan, Canada

 

(“Eagle Trail”)

 

OF THE FIRST PART

AND:

GUINNESS EXPLORATION, INC., a company incorporated

under the laws of the state of Washington, U.S.A., having an office at

P.O. Box 1910 – Level 7 Anzac House 181 Willis Street, Wellington,

New Zealand 6140

(“Guinness”)

 OF THE SECOND PART

WHEREAS:

A.       As of November 19, 2009, Eagle Trail was the legal and beneficial owner of 175 full or fractional mineral claims/leases located in the Mt. Nansen area of the Whitehorse Mining District of the Yukon Territory, Canada, (the “Mineral Claims”).

B.        Pursuant to an Option Agreement dated November 7, 2008 (the “Dome Option”) between Eagle Trail as optionee and Pricewaterhousecoopers Inc. as optionor, Eagle Trail has the option to purchase the mineral claim identified as Dome 12:73698 located in the Mt. Nansen area of the Whitehorse Mining District of the Yukon Territory (the “Dome Claim”).

C.        Pursuant to a Mineral Claims Purchase and Sale Agreement dated November 19, 2009, (the “Purchase and Sale Agreement”) Guinness purchased an undivided 65% interest in the Mineral Claims and the Dome Option upon the fulfillment of certain stated conditions, and subject to an NSR of 3% reserved by Eagle Trail (the “Initial Interest”), through its subsidiary, Nantawa Resources Inc. (“Nantawa”).

D.        As consideration for the purchase of the Initial Interest, Guinness issued 60,000,000 restricted shares in its capital to Eagle Trail at a deemed price of $0.00103 per share (the “Share Consideration”) and was required to pay $500,000 CAD by May 30, 2010 and a further $500,000 CAD by November 30, 2010.

E.         Pursuant to a Mineral Claim Option Agreement dated November 19, 2010, (the “Option Agreement”) Eagle Trail granted an option to Guinness  to acquire a further 35% undivided interest in the Mineral Claims and the Dome Option, subject to an NSR of 3% reserved by Eagle Trail (the “Optioned Interest”).

  

1

  

 

 

F.         As consideration for the purchase of the Optioned Interest, Guinness paid $1,000 CAD to Eagle Trail and is required to expend a minimum of $1,000,000 CAD by October 31, 2010 and a further $1,000,000 CAD by October 31, 2011 in exploration expenditures, and to keep the Mineral Claims and the Dome Claim in good standing.

G.        Pursuant to an Amendment Agreement dated February 4, 2010, the parties agreed to amend the Purchase and Sale Agreement and the Option Agreement to provide, inter alia, that the cash portion of the purchase price for the Initial Interest could be paid in USD, resulting in two payments of $471,934 USD (rather than two payments of $500,000 CAD) after exchange rate conversion.

H.        Following execution of the Purchase and Sale Agreement and the Option Agreement, certain of the Mineral Claims as set out in attached in Schedule “A” hereto, lapsed (the “TAWA Claims”) and could not longer form part of the transactions between the parties.

I.          Guinness does not have sufficient funds to pay the $471,934 USD. due on November 30, 2010, as required by the terms of the Purchase and Sale Agreement and does not anticipate under current market conditions that it could raise funds and is, as such, at risk of forfeiting its rights under the Purchase and Sale Agreement.

J.          Guinness has to date made exploration expenditures of approximately $894,000 CAD toward its obligations under the Option Agreement and does not have sufficient funds to make further exploration expenditures of approximately $106,000 CAD due by October 31, 2011, as required by the terms of the Option Agreement and does not anticipate under current market conditions that it could raise these funds and is, as such, at risk of forfeiting its rights under the Option Agreement.

K.         The parties have agreed to modify the Purchase and Sale Agreement and the Option Agreement, as amended, and to allocate and vest interests in the remaining Mineral Claims between them, on the terms and conditions contained herein.

NOW THEREFORE in consideration of the sum of $1.00 paid by each party, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each party, the parties covenant and agree as follows:

	
1.  

	
Interpretation

1.1           Definitions. All terms used in this Agreement not specifically defined herein, shall have the same meaning as defined in the Purchase and Sale Agreement and the Option Agreement.

 

  

2

  

 

 

1.2           Headings.  The division of this Agreement into sections and the insertion of headings are for convenience of reference only and shall not affect the construction or interpretation of this Agreement.  The terms “this Agreement”, “hereof”, “hereunder” and similar expressions refer to this Agreement and not to any particular Article, section or other portion hereof and includes any variation or amendment hereto from time to time and any agreement supplemental hereto.  Unless something in the subject matter or context is inconsistent therewith, references herein to Articles and Sections are to Articles and Sections of this Agreement.

1.3           Legislation.  Any reference to a provision in any legislation is a reference to that provision as now enacted, and as amended, re-enacted or replaced from time to time, and in the event of such amendment, re-enactment or replacement any reference to that provision shall be read as referring to such amended, re-enacted or replaced provision.

1.4           Extended Meanings.  In this Agreement words importing the singular number only shall include the plural and vice versa, words importing the masculine gender shall include the feminine and neuter genders and vice versa and words importing persons shall include individuals, partnerships, associations, trusts, unincorporated organizations and corporations. All references to mineral claims shall include map designated units.

1.5           Currency.  All references to currency herein are to lawful money of Canada, unless otherwise specified.

1.6           Non-Merger. The provisions contained in this Agreement shall survive the completion of the transactions contemplated by this Agreement and shall not merge in any conveyance, transfer, assignment, novation agreement or other document or instrument delivered pursuant hereto or in connection herewith.

1.7           Construction Clause. This Agreement has been negotiated and approved by counsel on behalf of all parties hereto and, notwithstanding any rule or maxim of construction to the contrary, any ambiguity or uncertainty will not be construed against any party hereto by reason of the authorship of any of the provisions hereof.

1.8           No partnership Nothing contained in this Agreement shall be construed as creating a partnership of any kind or as imposing on any party any partnership duty, obligation or liability to any other party.

 

2.             Representations and Warranties

 

2.1           Representations and Warranties of Eagle Trail.  Eagle Trail represents and warrants to Guinness that:

 

	
  

	
(a)

	
it has a business address at the address set forth beside its name on the first page of this Agreement;

 

  

3

  

 

 

	
  

	
(b)

	
it is a corporation duly subsisting under the laws of Saskatchewan with the corporate power to own its assets and to carry on its business in the jurisdiction in which the Property is located;

 

	
  

	
(c)

	
it has good and sufficient authority to enter into and deliver this Agreement;

 

	
  

	
(d)

	
the execution, delivery and performance of this Agreement by Eagle Trail, and the consummation of the transactions herein contemplated will not (i) violate or conflict with any term or provision of any of the articles, by-laws or other constating documents of Eagle Trail; (ii) violate or conflict with any term or provision of any order of any court, Government or Regulatory Authority or any law or regulation of any jurisdiction in which Eagle Trail’s business is carried on; or (iii) conflict with, accelerate the performance required by or result in the breach of any agreement to which it is a party or by which it is currently bound; and

 

	
  

	
(e)

	
this Agreement has been duly authorized, executed and delivered by Eagle Trail and constitutes a valid and binding obligation of Eagle Trail enforceable against Eagle Trail in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally and except as limited by the application of equitable principles when equitable remedies are sought.

2.2           Representations and Warranties of Guinness.  Guinness represents and warrants to Eagle Trail that:

 

	
  

	
(a)

	
it has a business address at the address set forth beside its name on the first page of this Agreement.

 

	
  

	
(b)

	
it is a corporation duly incorporated, organized and subsisting under the laws of the state of Nevada with the corporate power to own its assets and to carry on its business in the jurisdiction in which the Mineral Claims and the Dome Claim are located;

	
  

	
(c)

	
Nantawa is a wholly owned subsidiary of Guinness and holds title to Guinness’ interest in the Mineral Claims as trustee for Guinness;

	
  

	
(d)

	
The facts contained in Recitals I and J herein are true;

 

	
  

	
(e)

	
it has all necessary power and authority to own or lease its assets and carry on its business as presently carried on, to carry out its obligations herein and to enter into this Agreement and any agreement or instrument referred to in or contemplated by this Agreement and to do all such acts and things as are required to be done, observed or performed by it, in accordance with the terms of this Agreement and any agreement or instrument referred to in or contemplated by this Agreement;

 

	
  

	
(f)

	
the execution, delivery and performance of this Agreement by Guinness, and the consummation of the transactions herein contemplated will not (i) violate or conflict with any term or provision of any of the articles, by-laws or other constating documents of Guinness; (ii) violate or conflict with any term or provision of any order of any court, Government or Regulatory Authority or any law or regulation of any jurisdiction in which Guinness’ business is carried on; or (iii) conflict with, accelerate the performance required by or result in the breach of any agreement to which it is a party or by which it is currently bound; and

 

 

  

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(g)

	
this Agreement has been duly authorized, executed and delivered by Guinness and constitutes a valid and binding obligation of Guinness enforceable against Guinness in accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally and except as limited by the application of equitable principles when equitable remedies are sought.

2.3           Reliance and Survival.  The representations, warranties and acknowledgments set out in this Section 2 have been relied on by the parties in entering into this Agreement.  All representations and warranties made herein will survive the delivery of this Agreement to the parties and the completion of the transactions contemplated hereby and, notwithstanding such completion, will continue in full force and effect for the benefit of the parties to whom they are provided, as the case may be, indefinitely.

	
3.

	
Mineral Claims

3.1           TAWA Claims Excluded.  The parties acknowledge and agree that in consideration of the compensation payable to Guinness pursuant to paragraph 3.2, the Schedule of Mineral Claims shall be modified to not include the TAWA claims and shall henceforth and herein comprise only those claims set out in Schedule “B” attached hereto.

3.2           TAWA Claims Compensation. As partial consideration of the removal of the TAWA claims from the Schedule of Mineral Claims, Eagle Trail shall return to the treasury of Guinness, for cancellation, 5,000,000 shares of the Share Consideration.

3.3           Release.   Subject to payment of the compensation pursuant to paragraph 3.2, Guinness, on behalf of itself, and its agents, directors, officers, employees, successors, subrogees and  assigns does hereby remise, release and forever discharge Eagle Trail, its agents, directors, officers, employees, successors, subrogees and  assigns of and from any claims, causes of action, damages, demands, interest, expenses, costs and compensation of any nature or kind whatsoever that Guinness now has, or at any time hereafter can, shall, or may have, for or by reason of or arising out of the lapse or loss of the TAWA Claims.

3.4           No Acknowledgment of Liability. Guinness acknowledges that this is a compromise settlement of a disputed claim and that nothing contained herein shall be deemed or construed to be an admission of liability by Eagle Trail.

	
4.

	
Earned and Retained Interests

4.1           Earned Interest of Guinness.  Notwithstanding anything to the contrary contained in the Purchase and Sale Agreement and the Option Agreement, and without payment of further consideration, the Parties hereto do hereby agree that in consideration of all amounts paid by Guinness to Eagle Trail to date, including the issuance of the Share Consideration, the partial payment of the cash consideration, the exploration work undertaken on the Mineral Claims and the removal of the TAWA Claims, Guinness shall be deemed to have earned and shall hereby be vested with an undivided 49% interest in and to the Mineral Claims and the Dome Option, subject to the NSR of 3% retained by Eagle Trail.

 

  

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4.2           Retained Interest of Eagle Trail. Notwithstanding anything to the contrary contained in the Purchase and Sale Agreement and the Option Agreement, Eagle Trail shall be deemed to retain and shall hereby be vested with an undivided 51% interest in and to the Mineral Claims and the Dome Option.

4.3           Assignment. Guinness shall not be entitled to assign its interests in the Mineral Claims or the Dome Option without the prior written consent of Eagle Trail provided that it may assign all of its interest (but not less than all) in the Mineral Claims to its wholly owned subsidiary, Nantawa Resources Inc., provided that Nantawa provides written its agreement to Eagle Trail of its intention to be bound by the term  of this Agreement.

4.4           Titles and Transfers. Title to the Mineral Claims shall be recorded in accordance with the respective interest of the parties. Within 30 days following the execution of this Agreement, Guinness shall register appropriate transfers at the Office of the Yukon Mining Recorder, to record the earned and retained interests in the Mineral Claims here provided.

	
5.

	
Maintenance of Mineral Claims

5.1           Payment of Charges. Until the sale of the Mineral Claims as contemplated by paragraph 6.1 or the formation of a joint venture as contemplated by paragraph 6.2, the parties shall pay all costs, taxes and assessments required to keep the Mineral Claims in good standing, in accordance with their respective interests.

5.2           Administrator. Guinness shall undertake the duties of administrator to ensure that the Mineral Claims remain in good standing and shall render an accounting to Eagle Trail at least 60 days before due, of all amounts payable by each party to keep the Mineral Claims in good standing and shall remit such payments on its own behalf and, upon receipt of funds from Eagle Trail, on behalf of Eagle Trail.

	
6.

	
Joint Marketing and Sale or Joint Venture

6.1           Joint Marketing and Sale. The parties shall use their best efforts to jointly market and sell their respective interests in the Mineral Claims and the Dome Option.

6.2           Joint Venture.  In the event the parties are unable to jointly sell their respective interests in the Mineral Claims and the Dome Option, within 120 days from the date of this Agreement, the interests of the parties in the Mineral Claims and the Dome Option will be governed by a Joint Venture Agreement,  the terms of which the parties will negotiate in good faith and enter into within 180 days following the date of this Agreement.

	
7.

	
Continuing Effect

7.1           Continuing Effect. This Agreement as and from the date hereof will be read and construed along with the Purchase and Sale Agreement and the Option Agreement and treated as a part thereof; and the Purchase and Sale  Agreement and Option Agreement, as hereby modified and extended, will continue to be of full force and effect; and the parties confirm and ratify the Purchase and Sale Agreement and the Option Agreement as hereby modified and extended.

 

  

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8.             Public Announcements

8.1           Public Announcements.  Guinness  shall not, without the prior consent of Eagle Trail, make any disclosure regarding (i) the existence, purpose, scope, content, terms or conditions of this Agreement or other agreements relating thereto or (ii) the Mineral Claims and the Dome Option except to the extent such disclosure comprises information substantially already publicly available or unless it is necessary for any party to make such disclosure in order to comply with a statutory obligation, the requirements of a competent government or statutory agency, or the requirements of any stock exchange; provided that, where practicable, a copy of any proposed announcement or statement shall be furnished by Guinness to Eagle Trail in advance of the proposed date of publication, and Eagle Trail shall make every reasonable effort to incorporate the reasonable comments of the other parties prior to dissemination. 

9.             General Provisions

 

9.1           Entire Agreement.  This Agreement, including all the Schedules hereto and the Purchase and Sale Agreement and the Option Agreement, as amended, constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersedes any and all prior agreements, understandings, negotiations and discussions, whether oral or written, of the parties and there are no warranties, representations or other agreements among the parties in connection with the subject matter hereof except as specifically set forth herein and therein. Each party acknowledges that it shall have no right to rely on any amendment, promise, modification, statement or representation made or occurring subsequent to the execution of this Agreement unless it is in writing and executed by each of the parties.

9.2           Arbitration.  If there is a dispute between the parties with respect to this Agreement, or the interpretation of this Agreement, the dispute shall be referred to a single arbitrator appointed pursuant to the laws of Saskatchewan, the arbitration shall be conducted in Saskatchewan, and the decision of the arbitrator shall be final and binding upon the parties.

9.3           Waiver.  The failure of a party in any one or more instances to insist upon strict performance of any of the terms of this Agreement or to exercise any right or privilege arising under it shall not preclude it from requiring by reasonable notice that any other party duly perform its obligations or preclude it from exercising such a right or privilege under reasonable circumstances, nor shall waiver in any one instance of a breach be construed as an amendment of this Agreement or waiver of any later breach.

9.4           Enurement. This Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns.

9.5           Further Assurances.  The parties hereto shall from time to time at the request of any of the other parties hereto and without further consideration, execute and deliver all such other additional assignments, transfers, instruments, notices, releases and other documents and shall do all such other acts and things as may be necessary or desirable to assure more fully the consummation of the transactions contemplated hereby.

  

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9.6           Time.  Time shall be of the essence of this Agreement.

9.7           Expenses. Each party shall be responsible for its own expense in connection with negotiating and settling this Agreement.

9.8.           Amendment.  This Agreement may be amended or varied only by agreement in writing signed by each of the parties.

9.9           Governing Law and Attornment.  This Agreement shall be governed by and interpreted in accordance with the laws of the Province of Saskatchewan and the federal laws of Canada applicable therein and the parties hereby irrevocably attorn to the non-exclusive jurisdiction of the Courts of the Province of Saskatchewan sitting in the City of Regina.

9.10           Counterparts.  This Agreement may be executed by facsimile and in as many counterparts as are necessary. All counterparts together shall constitute one agreement.

 

 

THE PARTIES, intending to be contractually bound, have entered into this Agreement as of the date set out on the first page.

	
 

EAGLE TRAIL PROPERTIES INC.

By:

 

 

/s/ Curtis Sim

(Authorized Signatory)

	  	  

 

 

	
GUINNESS EXPLORATION, INC.

By:

 

 

/s/ Alastair Brown

(Authorized Signatory)

	  	  

 

 

 

 

 

 

  

8

  

 

 

SCHEDULE “A” TO THE AGREEMENT BETWEEN

EAGLE TRAIL PROPERTIES INC. AND GUINNESS EXPLORATION INC.

DATED OCTOBER 12, 2010

LIST OF LAPSED TAWA CLAIMS

	
 

Claim

	
Grant Number

	
Expiry Date

	
Area (Ha)

	
Comments

	
TAWA 25

	
YA95051

	
03/01/2010

	
4.33

	
Fractions

	
TAWA 26

	
YA95052

	
03/01/2010

	
5.95

	
Fractions

	
TAWA 27

	
YA95151

	
03/01/2010

	
17.11

	
-

	
TAWA 28

	
YA95152

	
03/01/2010

	
22.34

	
-

	
TAWA 29

	
YA95153

	
03/01/2010

	
16.14

	
-

	
TAWA 30

	
YA95154

	
03/01/2010

	
20.77

	
-

	
TAWA 31

	
YA95155

	
03/01/2010

	
23.90

	
-

	
TAWA 32

	
YA95156

	
03/01/2010

	
21.36

	
-

	
TAWA 33

	
YA95157

	
03/01/2010

	
12.16

	
-

	
TAWA 34

	
YA95158

	
03/01/2010

	
18.45

	
-

	
TAWA 47

	
YA95163

	
03/01/2010

	
7.01

	
-

	
TAWA 48

	
YA95164

	
03/01/2010

	
8.00

	
-

	
TAWA 49

	
YA95165

	
03/01/2010

	
21.93

	
-

	
TAWA 50

	
YA95166

	
03/01/2010

	
23.59

	
-

	
TAWA 51

	
YA95167

	
03/01/2010

	
23.22

	
-

	
TAWA 52

	
YA95168

	
03/01/2010

	
23.93

	
-

	
TAWA 53

	
YA95169

	
03/01/2010

	
15.03

	
-

	
TAWA 54

	
YA95170

	
03/01/2010

	
22.93

	
-

	
TAWA 55

	
YA95171

	
03/01/2010

	
5.90

	
-

	
TAWA 56

	
YA95172

	
03/01/2010

	
13.37

	
-

	
TAWA 57

	
YA95173

	
03/01/2010

	
14.12

	
-

	
TAWA 58

	
YA95174

	
03/01/2010

	
16.15

	
-

	
TAWA 59

	
YA95175

	
03/01/2010

	
13.35

	
-

	
TAWA 60

	
YA95176

	
03/01/2010

	
16.19

	
-

	
TAWA 61

	
YA95177

	
03/01/2010

	
12.44

	
-

	
TAWA 62

	
YA95178

	
03/01/2010

	
11.28

	
-

	
TAWA 63

	
YA95179

	
03/01/2010

	
8.41

	
-

	
TAWA 64

	
YA95301

	
03/01/2010

	
18.96

	
-

	
TAWA 65

	
YA95302

	
03/01/2010

	
15.20

	
-

	
TAWA 66

	
YA95303

	
03/01/2010

	
21.82

	
-

	
TAWA 67

	
YA95304

	
03/01/2010

	
22.03

	
-

	
TAWA 68

	
YA95305

	
03/01/2010

	
20.61

	
-

	
TAWA 69

	
YA95306

	
03/01/2010

	
19.68

	
-

	
TAWA 70

	
YA95307

	
03/01/2010

	
19.61

	
-

	
TAWA 71

	
YA95308

	
03/01/2010

	
18.94

	
-

	
TAWA 72

	
YB06963

	
03/01/2010

	
19.15

	
-

	
TAWA 73

	
YB06964

	
03/01/2010

	
18.69

	
-

	
TAWA 74

	
YB06965

	
03/01/2010

	
19.02

	
-

	
TAWA 75

	
YB06966

	
03/01/2010

	
18.61

	
-

	
TAWA 83

	
YB06971

	
03/01/2010

	
19.28

	
-

 

 

  

9

  

 

 

	
TAWA 84

	
YB06972

	
03/01/2010

	
6.48

	
-

	
TAWA 85

	
YB06973

	
03/01/2010

	
20.10

	
-

	
TAWA 86

	
YB06974

	
03/01/2010

	
21.08

	
-

	
TAWA 87

	
YB06975

	
03/01/2010

	
19.83

	
-

	
TAWA 88

	
YB06976

	
03/01/2010

	
20.96

	
-

	
TAWA 89

	
YB06977

	
03/01/2010

	
19.91

	
-

	
TAWA 90

	
YB06978

	
03/01/2010

	
20.97

	
-

	
Total

	  	  	
800.29

	  

 

 

 

 

 

 

 

 

 

 

 

 

 

  

10

  

 

SCHEDULE “B” TO THE AGREEMENT BETWEEN

EAGLE TRAIL PROPERTIES INC. AND GUINNESS EXPLORATION INC

DATED OCTOBER 12, 2010

REVISED LIST OF MINERAL CLAIMS

	
 

Claim

	
Grant Number

	
Expiry Date

	
Area (Ha)

	
Comments

	
ROSE

	
04241

	
09/10/2019

	
20.42

	
Lease

	
GOLDEN EAGLE

	
04278

	
09/10/2019

	
20.96

	
Lease

	
WAR EAGLE

	
04279

	
09/10/2019

	
20.77

	
Lease

	
SHAMROCK

	
04354

	
09/10/2019

	
20.73

	
Lease

	
SPOT

	
04361

	
09/10/2019

	
19.92

	
Lease

	
ARLEP

	
04368

	
09/10/2019

	
14.48

	
Lease

	
PHYLLIS

	
04369

	
09/10/2019

	
20.26

	
Lease

	
RUB

	
55633

	
09/10/2019

	
1.84

	
Lease

	
PUB

	
55663

	
09/10/2019

	
1.93

	
Lease

	
SUN DOG

	
55665

	
09/10/2019

	
3.20

	
Lease

	
CUB

	
55666

	
09/10/2019

	
1.29

	
Lease

	
JAM

	
55890

	
09/10/2019

	
11.64

	
Lease

	
PAM

	
55892

	
09/10/2019

	
2.64

	
Lease

	
DOME 1

	
73537

	
06/02/2014

	
15.10

	
-

	
DOME 2

	
73538

	
06/02/2014

	
15.51

	
-

	
DOME 3

	
73539

	
06/02/2014

	
17.29

	
-

	
DOME 4

	
73540

	
06/02/2014

	
17.98

	
-

	
DOME 6

	
73542

	
06/02/2014

	
17.32

	
-

	
DOME 7

	
73543

	
06/02/2014

	
25.34

	
-

	
DOME 8

	
73694

	
06/02/2014

	
12.47

	
-

	
DOME 14

	
73700

	
06/02/2014

	
21.07

	
-

	
DOME 16

	
73702

	
06/02/2014

	
20.61

	
-

	
DOME 17

	
73703

	
06/02/2014

	
18.41

	
-

	
DOME 18

	
73704

	
06/02/2014

	
18.56

	
-

	
DOME 19

	
73705

	
06/02/2014

	
16.73

	
-

	
DOME 20

	
73706

	
06/02/2014

	
13.42

	
-

	
JOANNE 1

	
74283

	
06/02/2014

	
19.79

	
-

	
JOANNE 2

	
74284

	
06/02/2014

	
19.51

	
-

	
JOANNE 3

	
74285

	
06/02/2014

	
20.36

	
-

	
JOANNE 4

	
74286

	
06/02/2014

	
14.78

	
-

	
JOANNE 5

	
74287

	
06/02/2014

	
19.83

	
-

	
JOANNE 6

	
74288

	
06/02/2014

	
19.69

	
-

	
DOME 25

	
77746

	
06/02/2014

	
15.19

	
-

	
DOME 26

	
77747

	
06/02/2014

	
22.54

	
-

	
DOME 27

	
77748

	
06/02/2014

	
20.32

	
-

	
DOME 28

	
77749

	
06/02/2014

	
21.74

	
-

	
DOME 33

	
77754

	
06/02/2014

	
25.50

	
-

	
DOME 34

	
77755

	
06/02/2014

	
23.29

	
-

	
DOME 35

	
77756

	
06/02/2014

	
22.39

	
-

 

 

  

11

  

 

 

	
DOME 36

	
77757

	
06/02/2014

	
23.97

	
-

	
DOME 37

	
77758

	
06/02/2014

	
14.23

	
-

	
DOME 38

	
77759

	
06/02/2014

	
18.48

	
-

	
DOME 39

	
77760

	
06/02/2014

	
14.95

	
-

	
DOME 40

	
77761

	
06/02/2014

	
20.51

	
-

	
DOME 41

	
77762

	
06/02/2014

	
20.76

	
-

	
DOME 42

	
77763

	
06/02/2014

	
19.93

	
-

	
DOME 43

	
77764

	
06/02/2014

	
20.47

	
-

	
DOME 49

	
77770

	
06/02/2014

	
8.18

	
-

	
DOME 50

	
77771

	
06/02/2014

	
18.83

	
-

	
DOME 51

	
77772

	
06/02/2014

	
19.05

	
-

	
DOME 52

	
77773

	
06/02/2014

	
21.85

	
-

	
DOME 53

	
77774

	
06/02/2014

	
22.80

	
-

	
DOME 54

	
77775

	
06/02/2014

	
14.69

	
-

	
DOME 55

	
77776

	
06/02/2014

	
13.09

	
-

	
DOME 56

	
77777

	
06/02/2014

	
13.35

	
-

	
DOME 57

	
77778

	
06/02/2014

	
20.47

	
-

	
DOME 58

	
77779

	
06/02/2014

	
19.41

	
-

	
DOME 60

	
77781

	
06/02/2014

	
20.06

	
-

	
DOME 61

	
77782

	
06/02/2014

	
18.91

	
-

	
DOME 63

	
77784

	
06/02/2014

	
22.51

	
-

	
DOME 64

	
77785

	
06/02/2014

	
22.88

	
-

	
DOME 65

	
77786

	
06/02/2014

	
20.66

	
-

	
DOME 66

	
77787

	
06/02/2014

	
21.18

	
-

	
DOME 78

	
81842

	
06/02/2014

	
25.41

	
-

	
DOME 79

	
81843

	
06/02/2014

	
24.10

	
-

	
DOME 80

	
81844

	
06/02/2014

	
24.20

	
-

	
DOME 81

	
81845

	
06/02/2014

	
22.52

	
-

	
DOME 82

	
81846

	
06/02/2014

	
23.26

	
-

	
DOME 83

	
81847

	
06/02/2014

	
18.72

	
-

	
DOME 84

	
81848

	
06/02/2014

	
19.37

	
-

	
DOME 86

	
81850

	
06/02/2014

	
20.76

	
-

	
HIW 9

	
YA23835

	
06/02/2014

	
19.44

	
-

	
HIW 10

	
YA23836

	
06/02/2014

	
20.83

	
Fractions

	
HIW 11

	
YA23837

	
06/02/2014

	
21.55

	
Fractions

	
HIW 12

	
YA23838

	
06/02/2014

	
19.93

	
Fractions

	
HIW 13

	
YA23839

	
06/02/2014

	
20.72

	
-

	
HIW 14

	
YA23840

	
06/02/2014

	
19.55

	
-

	
HIW 15

	
YA23841

	
06/02/2014

	
20.15

	
-

	
HIW 16

	
YA23842

	
06/02/2014

	
19.86

	
-

	
HIW 17

	
YA23843

	
06/02/2014

	
19.92

	
-

	
HIW 1

	
YA24813

	
06/02/2014

	
4.74

	
Fractions

	
HIW 2

	
YA24814

	
06/02/2014

	
5.15

	
Fractions

	
HIW 7

	
YA24819

	
06/02/2014

	
3.01

	
Fractions

	
DD 1

	
YA59596

	
06/02/2014

	
20.62

	
-

	
DD 2

	
YA59597

	
06/02/2014

	
22.35

	
-

	
DD 15

	
YA59610

	
06/02/2014

	
19.20

	
-

 

 

  

12

  

 

 

	
DD 16

	
YA59611

	
06/02/2014

	
19.21

	
-

	
DD 17

	
YA59612

	
06/02/2014

	
19.37

	
-

	
DD 18

	
YA59613

	
06/02/2014

	
19.85

	
-

	
DD 19

	
YA59614

	
06/02/2014

	
20.17

	
-

	
DD 20

	
YA59615

	
06/02/2014

	
19.90

	
-

	
DD 21

	
YA59616

	
06/02/2014

	
19.64

	
-

	
DD 22

	
YA59617

	
06/02/2014

	
19.17

	
-

	
DD 23

	
YA59618

	
06/02/2014

	
18.69

	
-

	
DD 24

	
YA59619

	
06/02/2014

	
18.30

	
-

	
DD 25

	
YA59620

	
06/02/2014

	
18.18

	
-

	
DD 26

	
YA59621

	
06/02/2014

	
17.65

	
-

	
DD 27

	
YA59622

	
06/02/2014

	
19.49

	
-

	
DD 28

	
YA59623

	
06/02/2014

	
18.71

	
-

	
TBR 1

	
YA86690

	
06/02/2014

	
8.92

	
-

	
TBR 2

	
YA86691

	
06/02/2014

	
20.16

	
-

	
TBR 3

	
YA86692

	
06/02/2014

	
20.03

	
-

	
TBR 4

	
YA86693

	
06/02/2014

	
20.84

	
-

	
TBR 5

	
YA86694

	
06/02/2014

	
18.34

	
-

	
TBR 6

	
YA86695

	
06/02/2014

	
20.92

	
-

	
TBR 7

	
YA86696

	
06/02/2014

	
15.96

	
-

	
TBR 8

	
YA86697

	
06/02/2014

	
21.79

	
-

	
ONT 38

	
YA87204

	
06/02/2014

	
20.26

	
-

	
ONT 40

	
YA87206

	
06/02/2014

	
18.34

	
-

	
ONT 42

	
YA87208

	
06/02/2014

	
5.73

	
-

	
EEK 1

	
YA87210

	
06/02/2014

	
21.07

	
-

	
EEK 2

	
YA87211

	
06/02/2014

	
20.08

	
-

	
EEK 3

	
YA87212

	
06/02/2014

	
20.70

	
-

	
EEK 4

	
YA87213

	
06/02/2014

	
20.68

	
-

	
EEK 5

	
YA87214

	
06/02/2014

	
20.80

	
-

	
EEK 6

	
YA87215

	
06/02/2014

	
19.58

	
-

	
EEK 7

	
YA87216

	
06/02/2014

	
19.97

	
-

	
EEK 8

	
YA87217

	
06/02/2014

	
21.91

	
-

	
EEK 9

	
YA87218

	
06/02/2014

	
22.64

	
-

	
EEK 14

	
YA87223

	
06/02/2014

	
21.36

	
-

	
EEK 15

	
YA87224

	
06/02/2014

	
21.22

	
-

	
EEK 16

	
YA87225

	
06/02/2014

	
21.76

	
-

	
EEK 17

	
YA87226

	
06/02/2014

	
20.01

	
-

	
EEK 18

	
YA87227

	
06/02/2014

	
20.74

	
-

	
ONT 44

	
YA92655

	
06/02/2014

	
16.80

	
-

	
ONT 45

	
YA92656

	
06/02/2014

	
12.91

	
-

	
ONT 46

	
YA92657

	
06/02/2014

	
18.48

	
-

	
ONT 47

	
YA92658

	
06/02/2014

	
14.41

	
-

	
Total

	  	  	
2,336,14

	  

 

 

 

  

13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00179-of-00352.parquet"}]]