Document:

EX-10.12

 Exhibit 10.12 
 Notice of Grant of Restricted Stock And 
 Award Agreement (the
“Agreement”) 
 Bank of the Ozarks, Inc.; ID: 71-0556208 

17901 Chenal Parkway 
 Little Rock, Arkansas 72223 
 Recipient:
                     

Grant of Restricted Stock. Effective          (the “Grant Date”), you have
been granted             shares (the “Restricted Shares”) of Bank of the Ozarks, Inc. (the “Company”) common stock pursuant to the Bank of the Ozarks, Inc. 2009
Restricted Stock and Incentive Plan, as amended and restated (the “Plan”), subject to the terms and conditions of this Agreement. You are not obligated to make any payment in respect of the Restricted Shares at the time of this grant
award, except if you make an election (a “Section 83(b) election”) under Section 83(b) of the Internal Revenue Code of 1986, as amended (the “Code”). 
 Value of Stock. Based on the average of the highest reported asked price and the lowest reported bid price of trades with respect to the common stock as reported on the NASDAQ Global Select
Market as of the close of business on the Grant Date, the fair market value of the Restricted Shares is $            per share, or
$            in the aggregate. 
 Vesting
Restrictions. The Restricted Shares are subject to a substantial risk of forfeiture, i.e., you may not be irrevocably assured of ownership of the Restricted Shares until the vesting date or dates, and such Restricted Shares
will become vested according to the following schedule, provided you remain continuously employed by the Company through such date: 
  

					
	 Vesting Date
	  	% of Restricted Shares Vested	 
		  	 	100	% 

 All Restricted Shares shall vest immediately upon a “Change in Control,” as described in the
Plan. If your employment is terminated prior to the vesting date of all of your Restricted Shares, your unvested Restricted Shares shall be forfeited in accordance with the Plan. 

Rights While Shares Are Restricted. While your shares remain restricted, you will be entitled to any dividends paid on the
Restricted Shares, and to any voting rights with respect to such shares on the same basis as other holders of common stock who have no restrictions relating to their shares of common stock. Until the date your Restricted Shares become vested, you
may not assign or otherwise transfer the Restricted Shares except as provided in the Plan. Once your Restricted Shares vest, you may not be able to immediately sell your shares depending on securities laws and any Company-imposed restrictions with
respect to compliance with such laws. Any inability to sell or transfer the Restricted Shares will not relieve you of the obligation to pay any required withholding taxes at the time of vesting (see discussion below under “Taxation of
Restricted Shares”). 

 The Restricted Shares shall be held in escrow by the Secretary of the Company until such
time as the Restricted Shares vest or are forfeited. Upon the vesting of such Restricted Shares and the satisfaction of the other terms and conditions of this Agreement, the Company will deliver the Restricted Shares to you, subject to payment of
any taxes payable by you with respect to the Restricted Shares. 
 Application of Company Clawback Policy. The
Award and any shares of Common Stock, cash or other property acquired in connection with this Award will be subject to the terms and conditions of any clawback or recoupment policy adopted by the Company and as may be in effect from time to time.

 Taxation of Restricted Shares. Based on current tax laws, you will not be taxed on your Restricted Shares until
they vest. At the time of vesting, the Company will treat the fair market value of the vested Restricted Shares as compensation taxable to you as ordinary income. If the common stock is then traded on the NASDAQ Global Select Market, the fair market
value will be based on the average of the highest reported asked price and the lowest reported bid price of trades with respect to the common stock as reported on such exchange on the vesting date, or if there is no sale for the relevant date, then
on the last previous date on which a sale was reported, or if the common stock is not then traded on such market, then such fair market value, determined as aforesaid, on such exchange or market on which the common stock may then be traded, and if
the common stock is not then traded on any such exchange or market, then in the sole discretion of the Board of Directors of the Company. 
 You may make a Section 83(b) election, to include in your gross income in the year of this Award the amount specified in Section 83(b) of the Code. If you make such an election, you must notify
the Company in writing within 10 days after filing the notice of the election with the Internal Revenue Service, in addition to any filing and notification required pursuant to regulations issued under Section 83(b) of the Code. 

YOU ACKNOWLEDGE THAT IT IS YOUR SOLE RESPONSIBILITY AND NOT THE COMPANY’S TO TIMELY FILE THE ELECTION UNDER SECTION 83(b) OF THE
CODE, EVEN IF YOU REQUEST THE COMPANY OR ITS REPRESENTATIVES TO MAKE THIS FILING ON YOUR BEHALF. 
 Upon satisfaction of any
vesting requirements, before any Restricted Shares may be delivered to you, or as set forth below, if you make a Section 83(b) election, at the time of making such election, you must satisfy your obligation for federal, state and local tax
withholding on the Restricted Shares (the “Restricted Withholding”). 
 You may elect to have the Restricted
Withholding satisfied, in whole or part, by (i) authorizing the Company to withhold a number of vested Restricted Shares you own equal to the Fair Market Value as of the date withholding is effected that would satisfy the Restricted
Withholding, (ii) transferring to the Company cash or other shares of Common Stock owned by you with a Fair Market Value equal to the amount of the Required Withholding, or (iii) if you are an Employee of the Company or a Subsidiary (as
such terms are defined in the Plan) at the time such Restricted Withholding is effected, by withholding such amount from your cash compensation. Whether or not you make a Section 83(b) election, no fractional shares of Common Stock shall be
issued, and the Company will deliver cash to you equal to the Fair Market Value of any fractional share resulting from such withholding. 
 If you make a Section 83(b) election, you must remit to the Company an amount sufficient to satisfy all Restricted Withholding at the time of your election. Such Restricted Withholding may be
satisfied in any authorized manner set forth in the immediately preceding paragraph. Your failure to timely submit the Restricted Withholding may result in forfeiture of your Restricted Shares. 

 The Company is providing you this information for educational purposes only and you hereby
acknowledge and agree that you are responsible for determining your tax obligations as a result of the transactions contemplated by this Agreement. 
 By your signature and the Company’s signature below, you and the Company agree that the Restricted Shares are granted under and governed by this Agreement and the Plan, which is attached and
incorporated herein by reference. In the event of any inconsistency or ambiguity between the terms and conditions of this Agreement and the Plan or in the event that this Agreement is silent as to any other matters addressed in the Plan, the terms
of the Plan shall control. 
 BANK OF THE OZARKS, INC. 
  

							
	By:	 	George G. Gleason, II	 		  	  

		 	Chairman and Chief Executive Officer	 		  	Date
		 	  
	 		  	  

		 	Recipient Signature	 		  	DateWhite Mountain Titanium Corp.: Exhibit 10.1  - Filed by newsfilecorp.com

AMENDMENT TO BINDING MEMORANDUM
OF 
UNDERSTANDING

THIS AMENDMENT TO BINDING MEMORANDUM OF UNDERSTANDING (this
“Amendment”) is dated as of September 11, 2014, between White
Mountain Titanium Corporation, a Nevada corporation (the
“Company”), and Grand Agriculture Investment Limited, a company
formed in Hong Kong (the “Investor”). All monetary denominations
are in U.S. Dollars. 

Recitals 

A.     On December 4, 2013, the parties
entered into a binding memorandum of understanding (the “MOU”). 

B.     Pursuant to the MOU, the Investor
agreed to purchase 5,714,286 First Tranche Units (as defined by the MOU) and an
additional 20,000,000 Second Tranche Units (as defined by the MOU), for an
aggregate investment of $10,000,000.

C.     The purchase price per unit for the
First Tranche Units was $0.35 per unit for gross proceeds of $2,000,000, and the
purchase price per unit for the Second Tranche Units is $0.40 per unit for gross
proceeds of $8,000,000. 

D.     The first half of the First Closing
(as defined by the MOU) occurred on December 4, 2013, at which time the Company
received $1,000,000 in total proceeds. 

E.     The second half of the First Closing
was scheduled for December 13, 2013 and occurred on December 14, 2013, and the
Company received an additional $1,000,000. 

F.     Pursuant to the MOU, the Second
Closing, for the sale of the Second Tranche Units, was scheduled to occur the
later of April 15, 2014, or within 30 days after the date upon which the
Environmental Impact Study (the “EIS”) for the Company’s Cerro Blanco
project is completed, or such other date as the Company and the Investor may
agree. To date the EIS has not been completed. 

G.     On or about April 10, 2014, a third
party syndicate secured by the Investor purchased 5,000,000 Second Tranche Units
for $2,000,000, which leaves 15,000,000 Second Tranche Units available for
purchase at a price of $.40 per unit, for $6,000,000 in funding. 

H.     On July 30, 2014, the Board approved
an amendment to the MOU to permit the Investor, and any syndicates it is able to
secure, the right to purchase up to an additional 12,500,000 Second Tranche
Units at a price of $.40 per unit, for up to an additional $5,000,000 in
funding. 

NOW THEREFORE, in consideration of the above recitals and other
good and valuable consideration, the receipt of which is hereby acknowledged and
pursuant to Section 8.6 of the MOU, the parties hereby agree as follows: 

SECTION 1. DEFINITIONS. Reference is hereby made to the MOU for
a statement of the terms thereof. All terms used in this Amendment which are
used but not otherwise defined herein have the same meanings herein as set forth
in the MOU. 

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SECTION 2. AMENDMENTS AND ADDITIONS 

(a)     Section 2.1(c) is added to the MOU
as follows:

Based upon the revised budget to be developed by the new CFO
for the Company and the need for additional funds for completion of the
Company’s Environmental Impact Statement and Bankable Feasibility Study, and
such other activities as determined by the Board of Directors as being of
strategic importance to the Company, the Investor, or any syndicated investors
designated by the Investor, has the right to purchase up to an additional
12,500,000 Second Tranche Units at a price of $.40 per unit, for up to an
additional $5,000,000 in funding (the “Additional Second Tranche Units”).
The closing for the Additional Second Tranche Units shall be held in multiple
closings based upon the Company’s need for the funds as determined in the
revised budget. If the revised budget is modified by the Board of Directors to
eliminate the need for the additional funds as a result of the Board’s decision
not to pursue such activities for which the Additional Second Tranche Units are
currently earmarked, the Company may terminate the sale of the Additional Second
Tranche Units prior to receipt of funds for these Additional Second Tranche
Units.

(b)     The following will be added to the
MOU as Section 3.10 (c): 

Proceeds from the Additional Second Tranche Units. The
proceeds from the sale of the Additional Second Tranche Units, less the costs of
the offer and sale of these units and the selling commissions, will be allocated
for the completion of the Company’s Environmental Impact Statement and
Bankable Feasibility Study and such activities determined by the Board of
Directors as being of strategic importance to the Company as set forth in the
Company’s revised budget as initially approved by the Board of Directors and
modified by the Board of Directors thereafter. 

(c)     The parties confirm that the Bonus
Warrants provided in Section 2.4 will be issued upon receipt of the $3,500,000
representing the Second Tranche Units as provided in the original MOU. Further,
the parties acknowledge that the sale of the Additional Second Tranche Units
will be subject the payment of the 7% selling commissions as provided in the
Placement Agent Agreement with Ambitious King Limited.

SECTION 3. MISCELLENEOUS

(a)     Representations and
Warranties; Events of Default. The Company hereby confirms that each
representation and warranty made by it under the MOU was true and correct when
made, except to the extent that any such representation or warranty expressly
related solely to an earlier date (in which case such representation or warranty
was true and correct on and as of such earlier date), and that no event, and no
default or any event that with the passage of time or giving of notice would
constitute a default, has occurred or is continuing under the MOU. 

(b)     Continuing Validity.
Except as amended hereby, the MOU shall continue to be, and shall remain, in
full force and effect. This Amendment shall not be deemed (i) to be a waiver of,
or consent to, or a modification or amendment of, any other term or condition of
the MOU or (ii) to prejudice any right or rights which the parites may now have
or may have in the future under or in connection with the MOU or any of the
instruments or agreements referred to therein, as the same may be amended,
restated, supplemented or otherwise modified from time to time. 

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(c)    Incorporation by Reference. The terms of the
MOU are incorporated herein by reference and shall form a part of this Amendment
as if set forth herein in their entirety.

(d)    Governing Law; Venue; Waiver of Jury Trail.
All questions concerning the construction, validity, enforcement, and
interpretation of this Amendment shall be governed by and construed and enforced
in accordance with the laws of the State of New York. This provision is meant to
supplement and not supersede Section 8.3 of the MOU. 

(e)    Entire MOU. Together, the MOU and this
Amendment constitute the entire agreement between the parties hereto and
supersedes all prior agreements and understandings, whether written or oral
relating to the subject matter hereof. 

(f)    Signatories. Each individual signatory hereto
represents and warrants that he or she is duly authorized to execute this
Amendment on behalf of his or her principal and that he or she executes the
Amendment in such capacity and not as a party. 

(g)    Duplicate Originals. Two or more duplicate
originals of this Amendment may be signed by the parties, each of which shall be
an original but all of which together shall constitute one and the same
instrument. This Amendment may be executed in counterparts, all of which
counterparts taken together shall constitute one completed fully executed
document. Signature by facsimile or PDF shall bind the parties hereto. 

[SIGNATURE PAGE FOLLOWS] 

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SIGNATURE PAGE 

IN WITNESS WHEREOF, each of the parties hereto has executed
this Amendment the respective day and year set forth below. 

	COMPANY: 	White Mountain Titanium
      Corporation 
	 	 
	Date: September 11, 2014 	By: 	/s/ Michael P. Kurtanjek 
	  		Michael P. Kurtanjek,
      President  
	 	 
	INVESTOR: 	Grand Agriculture Investment
      Limited 
	 	 
	Date: September 5, 2014 	By: 	/s/ Kin Wong 
	  	         	Kin Wong, Chief Executive Officer
    

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