Document:

Exhibit 10.1

 

AMENDMENT NO. 4 TO SECURITIES PURCHASE AGREEMENT

 

THIS AMENDMENT NO. 4 TO SECURITIES PURCHASE AGREEMENT, dated July 7, 2011 (this “Amendment”), is between General Moly, Inc., a Delaware corporation, (the “Company”), and Hanlong (USA) Mining Investment, Inc., a Delaware corporation, (“Purchaser”). Capitalized terms used, but not defined herein, shall have the meanings assigned to them in the Agreement, as defined below.

 

RECITALS

 

A.                                   The Company and Purchaser are parties to the Securities Purchase Agreement, dated March 4, 2010 (as amended by Amendment No. 1 to Securities Purchase Agreement, dated July 30, 2010, Amendment No. 2 and Waiver to Securities Purchase Agreement, dated October 26, 2010, Amendment No. 3 to Securities Purchase Agreement, dated December 20, 2010, and as further amended, restated or replaced, the “Agreement”); and

 

B.                                     The parties desire to amend the Agreement to modify certain dates for specified conditions precedent and to modify specified conditions precedent in the Agreement.

 

Accordingly, in consideration of the mutual covenants contained in this Amendment, the parties intending to be legally bound agree as follows.

 

AGREEMENT

 

1.                                       Section 6.6(a) of the Agreement is hereby amended by deleting “November 30, 2011” and replacing it with “the date that is twelve months after the publication of the Draft EIS or December 31, 2012”.

 

2.                                       Section 6.8 of the Agreement is amended by inserting the following sentence following the first sentence of Section 6.8.  “From time to time the Company may advance fees and expenses that are the obligation of Purchaser pursuant to the preceding sentence.  Those advances, if not repaid sooner, shall be credited against the Arrangement Fee when paid, or shall be repaid on the date that is 12 months after the publication of the Draft EIS, if earlier.”

 

3.                                       Section 7.2(c)(iii) of the Agreement is hereby deleted in its entirety and replaced with the following:

 

“(iii) Record of Decision The BLM shall have issued the Record of Decision with respect to the Mount Hope Project and the BLM shall have approved the Plan of Operations (collectively, the “ROD”) on or before the date that is the earlier of (A) nine months after the publication of the Draft EIS; and (B) September 30, 2012.”

 

4.                                       Section 7.2(e) of the Agreement is hereby deleted in its entirety and replaced with the following:

 

 

“(e)                            Modification of the ROD Closing Condition.  If, on or before the date that is seven months after the publication of the Draft EIS, the Company notifies Purchaser that the Company reasonably believes that (i) the BLM will not issue the ROD on or before the date (the “ROD Deadline”) that is the earlier of: (A) nine months after the date of the publication of the Draft EIS; and (B) September 30, 2012, and (ii) the BLM will issue the ROD on or before the earlier of: (A) twelve months after the date of the publication of the Draft EIS; and (B) December 31, 2012, then the Purchaser may notify the Company on or before the ROD Deadline that the Purchaser has elected to extend the date by which the BLM must issue the ROD to the date that is three months after the ROD Deadline (the “ROD Condition Extension”).  If Purchaser elects the ROD Condition Extension, the Company shall, on or before the date that is fifteen days after the ROD Deadline, pay to Purchaser $2,000,000 (which payment shall be a credit against the Arrangement Fee) and the Company Break Fee shall be increased by $1,000,000 for each month (or portion thereof) after one month following the ROD Deadline that elapses prior to BLM’s issuance of the ROD, such increase not to exceed $2,000,000.”.

 

5.                                       Section 8.2(b) of the Agreement is hereby amended by deleting (b) (i) in its entirety and replacing it with the following:

 

“(i) the Tranche 2 Closing shall not have occurred on or before the earlier of (A) September 30, 2012 (unless the Company has provided notice and the ROD Deadline is extended pursuant to Section 7.2(e), in which event this date shall be December 31, 2012) or (B) twelve months after the issuance of ROD;”

 

6.                                       Section 8.2(d) of the Agreement is hereby amended by deleting subsections “(v)” and “(vi)” in their entirety.  The parties acknowledge that the notice dated April 26, 2011, regarding Section 8.2(d)(vi) is rescinded and ineffective.

 

7.                                       Section 7.2(d) of the Agreement is hereby amended by changing “three (3)” to “nine (9)” and changing “six (6) to “twelve (12)”.

 

8.                                       Section 8.4(b) of the Agreement is hereby amended by deleting subsections “(b)(viii)” and “(b)(ix)”.

 

9.                                       Section 8.5(c) of the Agreement is hereby amended by replacing “six(6) months” with “twelve (12) months” in the last line of this Section 8.5(c).

 

10.                                 Schedule 1 of the Agreement is hereby amended by deleting “Sections 8.2(d)(vi) and 7.2(e)” and replacing it with “Section 7.2(e)” in the definition of “Company Break Fee”.

 

11.                                 Schedule 2 of the Agreement is hereby amended by replacing “2 months” with “9 months” in the paragraph titled “Availability Periods:”.

 

12.                                 Schedule 2 of the Agreement is hereby modified by replacing “September 30, 2011” with “the date that is the earlier of (i) December 31, 2012; or (ii) twelve months after the publication of the Draft EIS” in the paragraph titled “Conditions Precedent to Borrowing:”.

 

 

13.                                 Article IX of the Agreement is hereby incorporated by reference into this Amendment.

 

Except as specifically set forth in this Amendment, the Agreement shall remain in full force and effect.

 

[Signature page follows]

 

 

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

 

 

	
 
    	
GENERAL   MOLY, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   David A. Chaput
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
David   A. Chaput
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Chief   Financial Officer
    

 

 

HANLONG (USA) MINING INVESTMENT, INC.

 

 

	
By:
    	
/s/   Hui Xiao
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
Hui   Xiao
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
PresidentExhibit 10.2

 

AMENDMENT NO. 2 TO BRIDGE LOAN AGREEMENT

 

AMENDMENT NO. 2 TO BRIDGE LOAN AGREEMENT, dated July 7, 2011 (this “Amendment”), is between General Moly, Inc., a Delaware corporation, (the “Company”), and Hanlong (USA) Mining Investment, Inc., a Delaware corporation, (“Lender”).

 

RECITALS

 

The Company and Lender are parties to the Bridge Loan Agreement, dated March 4, 2010 (as amended by that certain Amendment No. 1 to Bridge Loan Agreement, dated July 30, 2010, and as further amended, restated or replaced the “Agreement”) and desire to amend the Agreement to provide for an extended Maturity Date that relates to certain extension of dates for completion and modifications of specified conditions precedent in the Securities Purchase Agreement.  Undefined capitalized terms used herein have the respective meanings set forth in the Agreement.

 

Accordingly, in consideration of the mutual covenants contained in this Amendment, the parties intending to be legally bound agree as follows.

 

AGREEMENT

 

The Agreement is hereby amended as specified below:

 

A.                                   Section 3.1(a)(i) is hereby amended by deleting “120” and replacing it with “270”.

 

B.                                     Section 3.1(a)(iii) of the Agreement is hereby deleted in its entirety and replaced with the following:

 

“(iii) the earlier of:  (A) December 31, 2012; and (B)  availability to the Company of the Bank Loan (such earlier date, the “Maturity Date”).”.

 

Except as specifically set forth in this Amendment, the Agreement shall remain in full force and effect.

 

[Signature page follows]

 

 

	
 
    	
GENERAL   MOLY, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   David A. Chaput
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
David   A. Chaput
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Chief   Financial Officer
    

 

 

HANLONG (USA) MINING INVESTMENT, INC.

 

 

	
By:
    	
/s/   Hui Xiao
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
Hui   Xiao
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
President
    	
 
    

 

1EXHIBIT 4.4

 

FIRST AMENDMENT 
 TO THE
 ALLSTATE 401(k) SAVINGS PLAN

 

1.                                       Subsection 3.12 of the Allstate 401(k) Savings Plan is hereby amended to read as follows:

 

3.12                 Qualified Nonelective Contributions.  Each Employer shall contribute to the Trust such amount, if any, for a Plan Year as determined by the Company in its discretion, as a Qualified Nonelective Contribution.  Qualified Nonelective Contributions for a Plan Year shall be allocated to the Pre-Tax Account of the Participant who (i) is not a Highly Compensated Employee and (ii) has the lowest compensation (as defined in subsection 3.8) for the Plan Year until all Qualified Nonelective Contributions for such Plan Year have been allocated or such Participant’s Qualified Nonelective Contributions equal 5% of his compensation (as defined in subsection 3.8) for the Plan Year.  If any Qualified Nonelective Contributions remain after the allocation in the preceding sentence, the remaining Qualified Nonelective Contributions shall be allocated to the Pre-Tax Account of the Participant meeting the criteria described in (i) above with the next lowest amount of compensation (as defined in subsection 3.8) for the Plan Year until all such Qualified Nonelective Contributions have been allocated or such Participant’s Qualified Nonelective Contributions for such Plan Year equal 5% of his compensation (as defined in subsection 3.8) for the Plan Year.  This process shall be repeated until all Qualified Nonelective Contributions for the Plan Year have been allocated.  Qualified Nonelective Contributions for a Plan Year shall be contributed no later than twelve (12) months after the last day of such Plan Year.

 

2.                                       Subsection 9.7 is hereby amended to read as follows:

 

9.7                   Direct Transfer of Eligible Rollover Distributions.  If payment of a Participant’s Vested benefits constitutes an Eligible Rollover Distribution (as defined below), then the Participant or other Eligible

 

 

Distributee (as defined below) may elect to have such distribution payable directly to an Eligible Retirement Plan (as defined below); provided, however, that the portion, if any, of an Eligible Rollover Distribution that would not be includable in the Participant’s gross income if distributed to the Participant shall not be paid directly to any Eligible Retirement Plan other than a qualified retirement plan described in Code Section 401(a) or 403(a), an individual retirement Account described in Code Section 408(a) or an individual retirement annuity described in Code Section 408 (b).  Each election under this subsection 9.7 shall be made at such time and in such manner as the Administrative Committee shall determine, and shall be effective only in accordance with such rules as shall be established from time to time by the Administrative Committee.

 

“Eligible Retirement Plan” means (i) an individual retirement account described in Section 408(a) of the Code, (ii) an individual retirement annuity described in Section 408(b) of the Code (other than an endowment contract), (iii) a Roth IRA described in Section 408A of the Code, (iv) a qualified trust described in Section 401(a) of the Code, (v) a qualified employee annuity described in Section 403(a) of the Code, (vi) an eligible deferred compensation plan described in Section 457(b) of the Code maintained by a governmental employer, and (vii) a tax deferred annuity described in Section 403(b) of the Code; provided, however, that if any Eligible Rollover Distribution is made to a Participant’s spouse or former spouse before the Participant’s death, only an individual retirement account or individual retirement annuity described in (i) or (ii) above shall be considered an Eligible Retirement Plan.  If any Eligible Rollover Distribution is made to a Participant’s non-spouse Beneficiary, only an individual retirement account or an individual retirement annuity described in (i) or (ii) above that is treated as an inherited individual retirement account or individual retirement annuity (within the meaning of

 

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Code Section 408(d)(3)(C)) shall be considered an Eligible Retirement Plan.

 

An “Eligible Rollover Distribution” means any distribution of all or any portion of the balance to the credit of an Eligible Distributee, except that an Eligible Rollover Distribution does not include:  (i) any distribution that is one of a series of substantially equal periodic payments (not less frequently than annually) made for the life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee’s beneficiary, or over a specified period of ten years or more; (ii) any distribution to the extent such distribution is required under Code Section 401(a)(9); or (iii) any distribution made on account of hardship.

 

An “Eligible Distributee,” with respect to a Participant’s Vested Accounts, means the Participant, the Participant’s surviving spouse or former spouse who is an alternate payee under a qualified domestic relations order and any non-spouse beneficiary of the Participant who is a “designated beneficiary” within the meaning of Code Section 401 (a)(9)(E).

 

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