Document:

Exhibit

EXHIBIT 10.4
Execution Version
CALPINE CORPORATION  
RESTRICTIVE COVENANT AGREEMENT
The following agreement (this “Agreement”) is hereby entered into as of August 29, 2018, by and between Calpine Corporation (the “Company”) and Zamir Rauf (“Executive”). In connection with Executive’s employment with the Company and for and in consideration of the payments and benefits provided in the employment agreement between Executive and the Company dated as of August 29, 2018, Executive hereby agrees to abide by the following restrictive covenants:
		
	1.
	Proprietary Information and Records.

		
	(a)
	“Proprietary Information” means confidential or proprietary information, knowledge or data concerning (1) the businesses, strategies, operations, financial affairs, organizational matters, personnel matters, budgets, business plans, marketing plans, studies, policies, procedures, products, ideas, processes, software systems, trade secrets and technical know-how of the Company and its affiliates (the “Group”), (2) any other matter relating to the Group, (3) any matter relating to clients of the Group or other third parties having relationships with the Group and (4) any confidential information from which the Group derives business advantage or economic value. Proprietary Information includes (A) the names, addresses, phone numbers and buying habits and preferences and other information concerning clients and prospective clients of the Group, and (B) information and materials concerning the personal affairs of employees of the Group. In addition, Proprietary Information may include information furnished to Executive orally or in writing (whatever the form or storage medium) or gathered by inspection, in each case before or after the date of this Agreement. Proprietary Information does not include information (X) that was or becomes generally available to Executive on a non-confidential basis, if the source of this information was not reasonably known to Executive to be bound by a duty of confidentiality, (Y) that was or becomes generally available to the public, other than as a result of a disclosure by Executive, directly or indirectly, or (Z) that Executive can establish was independently developed by Executive without reference to Proprietary Information.

		
	(b)
	Executive acknowledges that he will obtain or create Proprietary Information in the course of Executive’s involvement in the Group’s activities and may already have Proprietary Information. Executive agrees that the Proprietary Information is the exclusive property of the Group. In addition, nothing in this Agreement will operate to weaken or waive any rights the Group may have under statutory or common law, or any other agreement, to the prohibition of unfair competition or the protection of trade secrets, confidential business information and other confidential information.

		
	(c)
	Executive will use and disclose Proprietary Information only for the Group’s benefit and in accordance with any restrictions placed on its use or disclosure by the Group.

		
	(d)
	After the termination of Executive’s employment, Executive will not use or disclose any Proprietary Information for any purpose. For the avoidance of doubt, but without limitation of the foregoing, after termination of Executive’s employment, Executive will not directly or indirectly use Proprietary Information from which the Group derives business advantage or economic benefit to solicit, impair or interfere with, or attempt to 

	
			
	 
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solicit, impair or interfere with, any person or entity, who, at the time of the termination of Executive’s employment, is then a customer, vendor or business relationship of the Group (or who Executive knew was a potential customer, vendor or business relationship of the Company within the six months prior to the termination of Executive’s employment).
		
	(e)
	Within five (5) business days following the termination of Executive’s employment, Executive will on request return to the Company all written Proprietary Information that has been provided to Executive and Executive will destroy all copies of any analyses, compilations, studies or other documents prepared by Executive or for Executive’s use containing or reflecting any Proprietary Information (provided that Executive may retain a copy of his contacts list and the contents thereof).

		
	2.
	Covenant Not to Solicit, Not to Compete, Not to Disparage and to Cooperate in Litigation.

		
	(a)
	Covenant Not to Solicit. During Executive’s employment with the Company and for period of twelve (12) months after termination of Executive’s employment, Executive will not directly or indirectly, (i) solicit or attempt to solicit anyone who, at the time of the termination of Executive’s employment, is then an employee of the Group (or who was an employee of the Group within the six months prior to the termination of Executive’s Employment) to resign from the Group or to apply for or accept employment with any company or other enterprise, (ii) solicit any Customer to transact business with a competitive enterprise or to reduce or refrain from doing any business with the Company, (iii) transact business with any Customer that would cause Executive to be a competitive enterprise, or (iv) interfere with or damage any relationship between the Group and a Customer. For purposes of this Agreement, (i) a “Customer” means any customer of the Group or prospective customer of the Group contacted and materially and specifically pursued during Executive’s employment by the Group to whom Executive provided services, or for whom Executive transacted business, or whose identity became known to Executive in connection with Executive ‘s relationship or employment with the Group, and (ii) “solicit” means any communication of any kind, regardless of who initiates it, that invites, advises, encourages or requests any person to take or refrain from taking any action.

		
	(b)
	Covenant Not to Compete. During Executive’s employment with the Company and for a period of twelve (12) months thereafter, Executive shall not directly or indirectly manage, operate, participate in, be employed by, perform consulting services for, or otherwise be connected with any competitive enterprise; nor shall Executive receive compensation from any other company or business during the time Executive is employed with the Company unless the arrangement giving rise to such compensation has been (i) disclosed to and approved by the Board in advance or (ii) is otherwise permitted by the terms of this Agreement. Executive may invest in any competitive enterprise, provided that Executive does not own more than five (5) percent of the voting securities of any such entity at any time.

		
	(c)
	Nondisparagement. During and after Executive’s employment with the Company, the parties mutually covenant and agree that neither will directly or indirectly disparage the other, or make or solicit any comments, statements, or the like to any clients, competitors, suppliers, employees or former employees of the Company, the press, other media, or others that may be considered derogatory or detrimental to the good name or business reputation of the other party. Nothing herein shall be deemed to constrain either party’s cooperation in any Board authorized investigation or governmental action, or to prohibit 

	
			
	 
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competition otherwise permitted hereunder. In the event of Executive’s termination, Executive and Company shall agree on any press release relating to such termination and the Company and Executive shall not publicly discuss or comment on Executive’s termination in any manner other than as mutually agreed in the press release.
		
	(d)
	Cooperation in Any Investigations and Litigation. For a period of no more than one year after termination of employment, Executive agrees that Executive will reasonably cooperate with the Company, and its counsel, in connection with any investigation, inquiry, administrative proceeding or litigation relating to any matter in which Executive was involved or of which Executive has knowledge as a result of Executive’s service with the Company by providing truthful information. The Company agrees promptly to reimburse Executive for reasonable expenses reasonably incurred by Executive, together with hourly charges at the rate of $1,000 per hour, in connection with Executive’s cooperation pursuant to this Section 2(d). Nothing herein shall require Executive to devote more than six (6) hours per week or four (4) days per month of time to such matters, to travel material distances in connection therewith or to take any action that would materially interfere with Executives duties for a subsequent recipient of his services. Executive agrees that, in the event Executive is subpoenaed by any person or entity (including, but not limited to, any government agency) to give testimony (in a deposition, court proceeding or otherwise) which in any way relates to Executive’s employment by the Company, Executive will, to the extent not legally prohibited from doing so, give prompt notice of such request to the Chief Legal Officer of the Company so that the Company may contest the right of the requesting person or entity to such disclosure before making such disclosure. Nothing in this provision shall require Executive to violate Executive’s obligation to comply with valid legal process.

		
	(e)
	Work Product. Executive agrees that all programs, inventions, innovations, improvements, developments, methods, designs, analyses, reports and all similar or related information which relate to the business of the Group, actual or anticipated, or to any actual or anticipated research and development conducted in connection with the business of the Group, and all existing or future products or services, which are conceived, developed or made by Executive (alone or with others) during the term of this Agreement for the Group (“Work Product”) belong to the Company. Executive will reasonably cooperate fully, without cost to Executive, in the establishment and maintenance of all rights of the Group in such Work Product. The provisions of this Section 2(e) will survive indefinitely to the extent necessary to require actions to be taken by Executive after the termination of this Agreement with respect to Work Product created during the term of this Agreement.

		
	(f)
	Blue Pencil. It is the intent and desire of Executive and the Company that the provisions of this Section 2 be enforced to the fullest extent permissible under the laws and public policies as applied in each jurisdiction in which enforcement is sought. If any particular provision of this Section 2 shall be determined to be invalid or unenforceable, such covenant shall be amended, without any action on the part of either party hereto, to delete therefrom the portion so determined to be invalid or unenforceable, such deletion to apply only with respect to the operation of such covenant in the particular jurisdiction in which such adjudication is made.

		
	(g)
	Survive. Executive’s obligations hereunder shall survive, in accordance with their terms, termination of his employment with the Company.

	
			
	 
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Execution Version
IN WITNESS WHEREOF, Executive and the Company have executed this Agreement as of the date and year first written above.

	
			
	/s/ W. THADDEUS MILLER
	 
	/s/ ZAMIR RAUF

	Vice Chairman & Chief Legal Officer
	 
	 

	 
	 
	 

	CALPINE CORPORATION
	 
	EXECUTIVE

	 
	 
	 

[Signature Page to Rauf Restrictive Covenant Agreement]Execution
Version

 

DATED
9 AUGUST 2018

 

 

 

BUNKER
HILL MINING CORPORATION

 

and

 

HUMMINGBIRD
RESOURCES PLC 

 

AMENDMENT
AND RESTATEMENT AGREEMENT 

 

 

Tel
+44 (0)370 903 1000 Fax +44 (0)370 904 1099 mail@gowlingwlg.com www.gowlingwlg.com

 

    	 

    	 

    

 

CONTENTS

 

 

 

CLAUSE

 

	1.	Agreed
    terms	1
	 	 	 
	2.	Conditions
    Precedent	2
	 	 	 
	3.	Restatement
    of the Original Loan Agreement	2
	 	 	 
	4.	Representations
    and warranties	2
	 	 	 
	5.	Miscellaneous	2
	 	 	 
	6.	Third
    party rights	3
	 	 	 
	7.	Governing
    law and jurisdiction	3

 

SCHEDULE

 

	Schedule
    1	Conditions
    precedent	4
	 	 	 
	Schedule
    2	Form
    of amended and restated loan agreement	5

 

    	 

    	 

    

 

This
Agreement is dated 9th August 2018

 

Parties

 

	(1)	BUNKER
    HILL MINING CORPORATION, a company incorporated in Nevada and whose registered office is situated at 1802 N. Carson Street,
    Suite 212, Carson City, Nevada 89701 (the “Company”); and 
	 	 
	(2)	HUMMINGBIRD
    RESOURCES PLC, a company incorporated and registered in England and Wales whose registered office is at 49-63 Spencer
    Street, Hockley, Birmingham, B18 6DE (the “Lender”) 

 

BACKGROUND

 

	(A)	The
    Company and the Lender entered into a convertible loan agreement dated 13 June 2018 pursuant to which the Lender agreed to
    make available to the Borrower an unsecured loan facility in a maximum aggregate principal amount of US$1,500,000. (One Million
    Five Hundred Thousand United States Dollars) (the “Original Loan Agreement”).
	 	 
	(B)	The
    parties have agreed to amend and restate the Original Loan Agreement as set out in this agreement.

 

	1.	Agreed
    terms
	 	 
	1.1	Terms
    defined in the Original Loan Agreement shall have the same meaning when used in this agreement, unless defined below. In addition,
    the definitions below apply in this agreement. 

 

Original
Loan Agreement: has the meaning given in recital (A).

 

Restated
Loan Agreement: the Original Loan Agreement as amended and restated by this agreement in the form set out in Schedule 2.

 

Restatement
Date: the date on which the Lender informs the Company that the conditions precedent have been satisfied in accordance with
clause 2.

 

	1.2	The
    rules of interpretation of the Original Loan Agreement shall apply to this agreement as if set out in this agreement save
    that references in the Original Loan Agreement to “this agreement” shall be construed as references to this agreement.

 

    	1

    	 

    

 

	1.3	In
    this agreement:

 

	 	(a)	any
    reference to a “clause” or “Schedule” is, unless the context otherwise requires, a reference to a
    clause or Schedule of this agreement; and
	 	 	 
	 	(b)	clause
    and Schedule headings are for ease of reference only.

 

	1.4	The
    Schedules form part of this agreement and shall have effect as set out in full in the body of this agreement. Any reference
    to this agreement includes the Schedules.

 

	2.	Conditions
    Precedent
	 	 
	2.1	The
    Restatement Date is conditional on the Lender having received all of the documents and evidence specified in Schedule 1 in
    the form, and containing the information, that it requires.
	 	 
	2.2	On
    satisfaction of the conditions precedent referred to in clause 2.1, the Lender shall promptly notify the Company in writing
    that those conditions have been satisfied.

 

	3.	Restatement
    of the Original Loan Agreement

 

With
effect on and from the Restatement Date, the Original Loan Agreement shall be amended and restated in the form set out in Schedule
2 so that the rights and obligations of the parties to the Restated Loan Agreement shall, on and from that date, be governed by
and construed in accordance with the provisions of the Restated Loan Agreement.

 

	4.	Representations
    and warranties

 

The
Borrower makes the representations and warranties set out in clause 10 and Schedule 2 of the Original Loan Agreement to the Lender
on the date hereof and on the Restatement Date, in each case by reference to the facts and circumstances then existing, and as
if each reference in those representations and warranties to “this agreement” includes a reference to this agreement
and the Restated Loan Agreement.

 

	5.	Miscellaneous
	 	 
	5.1	The
    provisions of clauses 15 to 21 of the Original Loan Agreement shall apply to this agreement as if set out in full and so that
    references in those provisions to “this agreement” shall be construed as references to this agreement and references
    to “party” or “parties” shall be construed as references to parties to this agreement.
	 	 
	5.2	This
    agreement may be executed in any number of counterparts, each of which when executed shall constitute a duplicate original,
    but all the counterparts together shall constitute one agreement. No counterpart shall be effective until each party has executed
    at least one counterpart.

 

    	2

    	 

    

 

	6.	Third
    party rights
	 	 
	6.1	A
    person who is not a party to this agreement shall not have any rights under the Contracts (Rights of Third Parties) Act 1999
    to enforce, or enjoy the benefit of, any term of this agreement. This does not affect any right or remedy of a third party
    which exists, or is available, apart from that Act.
	 	 
	7.	Governing
    law and jurisdiction
	 	 
	7.1	This
    agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it
    or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.
	 	 
	7.2	Each
    party irrevocably agrees that, subject as provided below, the courts of England and Wales shall have exclusive jurisdiction
    over any dispute or claim (including non-contractual disputes or claims) that arises out of or in connection with this agreement
    or its subject matter or formation. Nothing in this clause shall limit the right of the Lender to take proceedings against
    the Borrower in any other court of competent jurisdiction, nor shall the taking of proceedings in any one or more jurisdictions
    preclude the taking of proceedings in any other jurisdictions, whether concurrently or not, to the extent permitted by the
    law of such other jurisdiction.

 

This
agreement has been entered into on the date stated at the beginning of it.

 

    	3

    	 

    

 

Schedule
1 Conditions precedent

 

	1.1	the
    execution by the Company of the New Warrant Deed and the delivery by the Company to the Lender of the executed New Warrant
    Deed and accompanying Warrant certificates.
	 	 
	1.2	the
    completion of an investment from Gemstone 102 Ltd. (“Gemstone”) on the following terms:

 

	 	(a)	Financing
    Amount: US$ 548,947 which is Can$ 721,834 at US$/Can$ 0.76049;
	 	 	 
	 	(b)	Units:
    1,604,076 units where each unit consists of 1 Common Share and 1 warrant;
	 	 	 
	 	(c)	Terms
    of Common Share: issue price of Can$ 0.45/share;
	 	 	 
	 	(d)	Terms
    of Warrant: exercise price of C$0.45 and a term of 2 years; and
	 	 	 
	 	(e)	Ownership
    of Gemstone post transaction: 16.19% of Common Shares, and 19.9% on a partially diluted basis (assumes Gemstone’s
    proposal to simultaneously cancel all of its 2 million Can$2.00 warrants from its December 2017 financing).

 

    	4

    	 

    

 

Schedule
2 Form of amended and restated convertible loan agreement

 

    	5

    	 

    

 

	Signed
    for and on behalf of	 
	 	/s/.
    Jennifer Boyle
	BUNKER
    HILL MINING CORPORATION	Director
	by
    its duly authorised representative	
	 	Jennifer
    Boyle
	 	Print
    name

 

	Signed
    for and on behalf of	 
	 	 
	HUMMINGBIRD
    RESOURCES PLC by its	/s/
    Thomas Hill
	 	 
	duly
    authorised representative	Director
	 	
	 	Thomas
    Hill
	 	
	 	Print
    name

 

    	6

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