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    EXHIBIT
      10.1

     

    AMENDMENT
      TO AGENCY AGREEMENT

    

    THIS
      AMENDMENT TO THE AGENCY AGREEMENT (this “Amendment”)
      is
      made as of this 22nd
      day of
      July, 2008, among Apollo Gold Corporation, (the “Corporation”),
      Haywood Securities Inc. (“Haywood”)
      and
      Blackmont Capital Inc. (together with Haywood, the “Agents”).

    

    WHEREAS,
      on July 9, 2008, the Corporation and the Agents entered into an Agency Agreement
      (the “Agency
      Agreement”)
      and
      the Corporation and the Agents desire to amend the Agency
      Agreement.

    

    NOW
      THEREFORE, in consideration of the mutual agreements contained in the Agency
      Agreement and in this Amendment and other good and valuable consideration,
      the
      receipt and sufficiency of which are hereby acknowledged, the parties hereto
      agree as follows:

    

    1. The
      Agency Agreement is hereby amended to delete the final paragraph of the Preamble
      and to change the date of the U.S. Final Prospectus Supplement (as defined
      in
      the Agency Agreement) in the Preamble from July 9, 2008 to July 23,
      2008.

    

    2. The
      Agency Agreement is hereby amended to add the following as Section 2(vi): “shall
      not make any confirmations of sales of Units in the United States or receive
      any
      funds from purchasers of Units in the United States prior to delivery of the
      U.S. Final Prospectus Supplement;”. As a result of this addition, the previous
      Sections 2(vi), (vii) and (viii) of the Agency Agreement is hereby amended
      to
      become Sections 2(vii), 2(viii) and 2(ix), respectively.

    

    3. The
      Agency Agreement is hereby amended to replace Section 3(a) with the
      following:

    

    “(a)
      Final
      Prospectus.
      The
      Corporation shall, as soon as possible, and in any event by not later than
      5:00
      p.m. (Toronto time) on July 9, 2008, obtain from the Principal Regulator, a
      Decision Document in respect of the Final Prospectus, and fulfill all other
      requirements as appropriate in order to qualify the Units for Distribution
      in
      the Qualifying Provinces by the Agents and the Selling Firms. The Corporation
      shall, as soon as possible, and in any event by not later than 5:00 p.m.
      (Toronto time) on July 23, 2008, file with the SEC a Free Writing Prospectus
      containing pricing information and, within the time period required under U.S.
      securities laws, the U.S. Final Prospectus Supplement.”

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4. The
      Agency Agreement is hereby amended to replace Section 5 with the
      following:

    

    “In
      return for their services in respect of the Distribution, including (i) acting
      as financial advisors to the Corporation, (ii) assisting in the preparation
      of
      the Offering Documents (and any Supplementary Material), (iii) advising on
      the
      final terms and conditions of the Distribution, (iv) forming and managing a
      selling group for the sale of the Units, and (v) performing administrative
      work
      in connection with the Distribution, the Corporation agrees to pay to the Agents
      at the Closing Time the Agents’ Fee. A corporate finance fee of $100,000 will be
      payable to Haywood on the Closing Date and will be credited against the portion
      of the Agents’ Fee payable to Haywood hereunder. 

     

    As
      additional compensation for the services to be rendered by the Agents in
      connection with the Offering, the Corporation shall grant to the Agents
      Compensation Options to purchase in the aggregate up to such number of
      Compensation Units as is equal to 6% of the aggregate number of Units sold
      in
      the Offering. The Compensation Options may be exercised, in whole or in part,
      during the term thereof, at an exercise price per Compensation Unit equal to
      $0.60, at any time during the period commencing 180 days following the Closing
      Date and ending on the date that is 48 months following the Closing Date. The
      Corporation shall execute and deliver to the Agents at each Closing Time
      Compensation Option Certificates to which the Agents are entitled in a form
      to
      be agreed upon by the Agents and the Corporation, acting
      reasonably.”

    

    5. This
      Amendment may be executed in one or more counterparts (including counterparts
      by
      facsimile), all of which shall be considered one and the same, and shall become
      effective when one or more such counterparts have been signed by each of the
      parties and delivered to each party.

    

    6. This
      Amendment shall be governed by and construed in accordance with the laws of
      the
      Province of Ontario and the federal laws of Canada applicable
      therein.

    

    

    [The
      remainder of this page is intentionally left blank]

    

    
      
        
        

      

      
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    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed and delivered this Amendment as of the date first
      set forth above.

    

      
        	 	
                HAYWOOD
                  SECURITIES INC.

              
	 	 	 
	 	 	 
	 	
                By:

              	
                /s/
                  Gregory McKenzie

              
	 	
                Name:
                  

              	
                Gregory
                  McKenzie

              
	 	 	 
	 	 	 
	 	
                BLACKMONT
                  CAPITAL INC.

              
	 	 	 
	 	 	 
	 	
                By:
                   

              	
                /s/
                  Rick Vernon

              
	 	
                Name:

              	
                Rick
                  Vernon

              
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	
                APOLLO
                  GOLD CORPORATION

              
	 	 	 
	 	 	 
	 	
                By:
                   

              	
                /s/
                  R. David Russell

              
	 	
                Name:
                  

              	
                R.
                  David Russell

              
	 	
                Title:
                  

              	
                President
                  and Chief Executive Officer

              

      

    

     

    
      
        
        

      

      
        -
          3 -EXHIBIT
      10.2 

    ACKNOWLEDGEMENT,
      CONSENT AND UNDERTAKING

     

    
      
        	
                TO:

              	
                ST
                  ANDREW GOLDFIELDS LTD.

              
	 	 
	
                RE:

              	
                Sale
                  of assets by St Andrew Goldfields Ltd. ("St Andrew") to Apollo
                  Gold
                  Corporation ("Apollo") pursuant to an asset purchase agreement
                  dated the
                  6th
                  day of June, 2008, as amended by amending agreement dated the
                  30th
                  day of June, 2008 (collectively, the “Asset Purchase
                  Agreement”).

              

      

    

    ____________________________________________________________________________

     

    For
      good
      and valuable consideration, the receipt and sufficiency of which is hereby
      acknowledged by the parties, Apollo hereby acknowledges and agrees as
      follows:

    1. The
      provisions contained in section 7.1 of the Asset Purchase Agreement shall have
      no application to the proposed purchase (the "Proposed Purchase") by St Andrew
      of up to 2,400,000 units of Apollo, with each unit consisting of one share
      of common stock (the "Common Shares") of Apollo and one half of one warrant
      (the
      "Warrants") to purchase common stock of Apollo (the "Securities") to be sold
      pursuant to a short form prospectus of Apollo dated July 9, 2008 (the "Apollo
      Financing").

    2. Upon
      the
      completion of the Proposed Purchase, 2,400,000 common shares of Apollo currently
      held by St Andrew shall be immediately free from the provisions contained in
      section 7.1 of the Asset Purchase Agreement which, for greater certainty, shall
      be in addition to the common shares of Apollo which St Andrew may sell pursuant
      to section 7.1 of the Asset Purchase Agreement.

    3. Apollo
      undertakes to file as soon as practicable after the date hereof a registration
      statement (or an amendment to the existing registration statement), as
      applicable, with the Securities and Exchange Commission to register for resale
      the Common Shares and Warrants included in the Securities within 60 days from
      the closing of the Proposed Purchase. Apollo
      covenants and agrees to make such filings and take all steps necessary to
      maintain the effectiveness of such registration statement  until St Andrew
      can sell all of the Securities in a single transaction in compliance with Rule
      144 under the United States Securities Act of 1933, as amended.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4. Within
      two (2) Business Days (as defined in the Asset Purchase Agreement) of the
      completion of the Apollo Financing, Apollo shall pay to St Andrew the balance
      of
      the purchase price owing under the Asset Purchase Agreement, namely $14,500,000,
      together with all accrued and unpaid interest thereon, as determined in
      accordance with the Asset Purchase Agreement.

    5. This
      Consent and Undertaking may be executed by facsimile or other electronic means,
      which shall be as effective as an originally executed copy.

     

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              Dated
                as of the 23rd
                day of July, 2008.

            	 
	 	 
	 	
              APOLLO
                GOLD CORPORATION

               

              Per: /s/
                R David Russell            

              Name:
                R. David Russell

              Title:
                President and Chief Executive Officer

            
	 	 

    

    

     

    
      
        
        

      

      
        -3-

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