Document:

Document

Exhibit 10.12 

ALACER GOLD CORP.
PERFORMANCE SHARE UNIT PLAN

June 6, 2017

			
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TABLE OF CONTENTS
						
	Section 1    Purpose of the Plan.
	1

	Section 2    Definitions.
	1

	Section 3    Performance Share Units Subject to the Plan.
	3

	Section 4    Administration of Plan.
	4

	Section 5    Grants of Performance Share Units.
	4

	Section 6    Terms and Conditions of Performance Share Units
	5

	Section 7    Taxes and Other Source Deductions.
	7

	Section 8    Award of Dividend Equivalents.
	8

	Section 9    Adjustments and Reorganizations.
	8

	Section 10    Unfunded Plan.
	9

	Section 11    Plan Amendment.
	9

	Section 12    Plan Termination.
	10

	Section 13    Final Determination.
	10

	Section 14    Participation Voluntary.
	10

	Section 15    No Right to Continued Employment.
	10

	Section 16    Acceptance of Terms by Participant.
	11

	Section 17    No Other Benefit.
	11

	Section 18    No Shareholder Rights.
	11

	Section 19    Reorganization of the Corporation.
	11

	Section 20    Successors and Assigns.
	11

	Section 21    General Restrictions and Assignment.
	11

	Section 22    Section 409A.
	12

	Section 23    Interpretation.
	13

	Section 24    Governing Law.
	13

	Section 25    Currency.
	13

	Section 26    Severability.
	13

	Section 27    Notice.
	13

(ii)
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PERFORMANCE SHARE UNIT PLAN
Section 1Purpose of the Plan.
The purpose of the Plan is to provide eligible Participants with compensation opportunities, to enhance the Corporation’s ability to attract, motivate and retain key personnel, to reward the Participants for significant performance and associated growth in value for the shareholders of the Corporation, and to align the interests of the Participants with those of the shareholders of the Corporation. 
Section 2Definitions.
As used in the Plan, the following terms have the following respective meanings:
“Account” means an account maintained for each Participant on the books of the Corporation which will be credited with Performance Share Units and Dividend Equivalents, in accordance with the terms of the Plan.
“Affiliate” has the meaning ascribed to that term under section 1(2) of the Securities Act (Ontario), as now in effect, or such other meaning, and shall include such other entities, as may be determined by the Board.
“ASX” means ASX Limited (ACN 008 624 691).
“ASX Listing Rules” means the official listing rules of the ASX.
“Board” means the Board of Directors of the Corporation.
“CDI” means a CHESS Depositary Interest, being a unit of beneficial ownership in a Common Share that is registered in the name of CHESS Depositary Nominees Pty Ltd ACN 071 346 506.
“Change in Control” means a transaction or a series of transactions whereby directly or indirectly: (i) any person or combination of persons obtains a sufficient number of voting securities of the Corporation to materially affect the control of the Corporation; (ii) the incumbent directors cease to represent a majority of the members of the Board; (iii) a resolution is adopted by the Board to wind-up, dissolve or liquidate the Corporation; or (iv) all or substantially all of the assets of the Corporation are sold to a person or combination of persons. For the purposes of clause (i) above, a person or combination of persons holding shares or other securities in excess of the number which, directly or following conversion thereof, would entitle the holders thereof to cast 50% or more of the votes attaching to all shares of the Corporation which may be cast to elect directors of the Corporation, shall be deemed to be in a position to materially affect the control of the Corporation, except where such may occur in the course of a financing.
“CIC Date” means the date of any Change in Control.
“Committee” means the Compensation Committee of the Board.

			
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“Common Shares” means the common shares of the Corporation. 
“Corporation” means Alacer Gold Corp. or its successors.
“Disability” means a Participant who is permanently disabled (as determined by the Board in good faith).
“Dividend Equivalent” means a bookkeeping entry equivalent in value to a dividend paid on a Common Share credited to a Participant’s Account in accordance with Section 8 of the Plan.
“Effective Date” means the date on which the Committee grants the Performance Share Units or such later date which the Committee determines will be the date on which a grant of Performance Share Units shall take effect, as specified in the Grant Agreement.
“Grant” means any Performance Share Unit credited to the Account of a Participant in accordance with Section 5 of the Plan.
“Grant Agreement” means the written agreement entered into by the Corporation and the Participant in accordance with Section 5 hereof, in a form substantially similar to that attached as Appendix “A”.
“Grant Period” means, in respect of each Grant or portion thereof, the period of time commencing on the Effective Date and ending on the date designated by the Committee as specified in the Grant Agreement. 
“Insider” shall have the meaning ascribed thereto in the Securities Act (Ontario) or its successor, as amended from time to time. 
”Non-U.S. Eligible Participant” is any Participant other than a U.S. Eligible Participant.
“Participant” means a full-time senior employee or senior officer of the Corporation or an Affiliate who is designated by the Committee as eligible to participate in the Plan.
“Payment Date” means, in respect of each Grant or portion thereof, a date determined by the Committee that occurs no later than 74 days after the end of the applicable Grant Period or such other date as required under Section 6(5) and Section 6(6) hereof.
“Performance Criteria” means criteria established by the Committee which, without limitation, may include criteria based on the financial performance of the Corporation and/or an Affiliate.
“Performance Share Unit” means a bookkeeping entry equivalent in value to a Common Share credited to a Participant’s Account in accordance with Section 5 of the Plan.
“Plan” means this Alacer Gold Corp. Performance Share Unit Plan as set forth herein and as may be amended from time to time.

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“Section 409A” means Section 409A of the U.S. Internal Revenue Code of 1986, as amended, and the Treasury Regulations promulgated thereunder as in effect from time to time.
“Share Price” means the volume weighted average trading price of the Common Shares on the Toronto Stock Exchange for the five (5) consecutive trading days immediately preceding either (a) the date on which a Performance Share Unit is granted (for the purposes of Section 5 below), (b) the Payment Date (for the purposes of Section 6 below) or (c) the date of the expiration of the six-month period referenced in Section 22 or the date of death (for the purposes of Section 22 below), as applicable, or in the event such Common Shares are not traded on the Toronto Stock Exchange, the fair market value of such Common Shares as determined by the Committee acting in good faith.
“U.S. Eligible Participant” refers to a Participant who, at any time during the period from the date Performance Share Units are granted to the Participant to the date such Performance Share Units are redeemed by the Participant, is subject to income taxation in the United States on the income received for his or her services as an employee of the Corporation or an Affiliate and who is not otherwise exempt from U.S. income taxation under the relevant provisions of the U.S. Internal Revenue Code of 1986, as amended, or the Canada-U.S. Income Tax Convention, as amended from time to time.
Section 3Performance Share Units Subject to the Plan.
(1)The aggregate value of Performance Share Units awarded to Participants within any one-year period under the Plan together with all other security based compensation arrangements of the Corporation, if any, shall not exceed 5% of the total number of issued and outstanding Common Shares (calculated on a non-diluted basis).
(2)The maximum number of Performance Shares Units issued to Insiders under the Plan, or when combined with any other previously established or proposed share compensation arrangements, within any one-year period, may not exceed 5% of the outstanding issue (calculated on a non-diluted basis).
Section 4Administration of Plan.
The Committee (or such senior officer of the Corporation as the Committee may designate for the purposes of Section 4(a) and (c) hereof) shall have the power, where consistent with the general purpose and intent of the Plan and subject to the specific provisions of the Plan:
(a)to establish policies and to adopt rules and regulations for carrying out the purposes, provisions and administration of the Plan and to amend and rescind such rules and regulations from time to time;
(b)to interpret and construe the Plan and to determine all questions arising out of the Plan, and any such interpretation, construction or 

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determination made by the Committee shall be final, binding and conclusive for all purposes; 
(c)to prescribe the form of the instruments used in conjunction with the Plan; and
(d)to determine which employees are eligible to participate in the Plan.
Section 5Grants of Performance Share Units.
Subject to the provisions of the Plan, the Committee will determine the Participants to whom a Grant will be made based on their current and potential contribution to the success of the Corporation. At such time, the Committee will also determine in connection with each Grant:
(a)the number of Performance Share Units to be allocated to each such Participant;
(b)the Effective Date;
(c)the Grant Period or, where a Grant is subject to more than one Grant Period, the portion of Performance Share Units granted to the Participant that is subject to each Grant Period;
(d)the Performance Criteria, if any, to be achieved during the Grant Period in order for Performance Share Units to be eligible for redemption on the Payment Date; and
(e)any other terms and conditions (which need not be identical and which, without limitation, may include non-competition provisions) of any Performance Share Units covered by any Grant.
Each Grant shall be evidenced by a Grant Agreement between the Corporation and the Participant which shall contain the terms and conditions specified by this Section 5 and such other terms and conditions as the Committee specifies.
Section 6Terms and Conditions of Performance Share Units.
(1)Records. The Corporation shall maintain records showing the number of Performance Share Units allocated to each Participant under the Plan.
(2)Payment.  Performance Share Units granted to a Participant for services rendered will entitle the Participant, subject to the Participant’s satisfaction of any conditions, restrictions or limitations imposed under the Plan or Grant Agreement, to receive a payment in cash on the Payment Date.
(3)Redemption – Cash Payment to the Participant.  On the Payment Date, the Performance Share Units shall be redeemed at the Share Price and paid by the Corporation to the Participant subject to Section 7. The Share Price of the vested Performance Share Units so redeemed shall, after 

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deduction of any applicable taxes and other source deductions required to be withheld by the Corporation, be paid in cash, in Canadian dollars, in accordance with Section 6(2). If the Participant requests payment in a currency other than Canadian dollars, such payment will be converted to such other requested currency based on the Bank of Canada noon rate on the Payment Date. Upon making such payment to the Participant, the Performance Share Units upon which such payment was based shall be cancelled and no further payments shall be made from the Plan in relation to such Performance Share Units.
(4)Where Performance Criteria Not Met.  Where the Committee determines in its sole discretion that the Performance Criteria applicable to a Grant or portion thereof were not achieved during the relevant Grant Period, the Performance Share Units subject to such Performance Criteria shall be forfeited as of the end of the Grant Period and no payment shall be made to the Participant in respect of such Grant or portion thereof. Notwithstanding the foregoing, the Board may, in compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities and the requirements of any stock exchange upon which Common Shares or CDIs of the Corporation are listed, choose to waive the Performance Criteria applicable to a Grant or portion thereof but will be under no obligation whatsoever to do so or to consider doing so.
(5)Right to Performance Share Units in the Event of Death, Disability or Termination of Employment.  
Unless otherwise determined by the Committee:
(a)In the event of the death of an individual Participant while in the employment of the Corporation or any of its Affiliates, the deceased Participant’s estate or designated beneficiary shall be paid on or before the 74th day following such Participant’s death, with respect to each Grant to such Participant for which the established  Grant Period  had  not  ended  and  for  which  Performance Share Units have not otherwise been redeemed prior to the date of death, cash as if the Grant Period had ended and the Performance Criteria for any such Grant, if any, had been met (but not exceeded) on the day preceding the date of the Participant’s death.
(b)In the event of the death of an individual Participant following the end of the Grant Period with respect to a Grant of Performance Share Units but prior to the Payment Date with respect to such Grant, the amount of cash that would otherwise be paid to such Participant shall be made to the Participant’s estate or designated beneficiary in accordance with and subject to Section 6(2) within 74 days after the date of death of a Participant, as if the Participant had continued in the employment of the Corporation.
(c)In the event a Participant’s employment with the Corporation or one of its Affiliates terminates by reason of Disability, the Participant shall be paid on or before the 74th day following such termination, with respect to each Grant to such Participant for which the established Grant Period had not ended and for which 

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Performance Share Units have not otherwise been redeemed prior to the date of termination, cash as if the Grant Period had ended and the Performance Criteria for any such Grant, if any, had been met (but not exceeded) on the day preceding the date of the termination.
(d)In the event a Participant’s employment with the Corporation or one of its Affiliates terminate by reason of Disability following the end of the Grant Period with respect to a Grant of Performance Share Units but prior to the Payment Date with respect to such Grant, the amount of cash that would otherwise be paid to such Participant shall be so paid to the Participant with and subject to Section 6(2) on or before the 74th day following such termination as if the Participant had continued in the employment of the Corporation or one of its Affiliates until the Payment Date. 
(e)In the event a Participant’s employment with the Corporation or one of its Affiliates terminates for any reason other than death or the Disability of the Participant, the Performance Share Units covered by any Grant to such Participant with respect to which the Payment Date has not occurred and for which Performance Share Units have not been redeemed prior to such termination shall be forfeited as of such termination of employment and any such termination of employment for whatever reason shall not entitle a Participant to any compensation for loss of any benefit under the Plan. For purposes of the Plan, termination of employment shall be deemed to occur on the Participant’s last date of actual and active employment, whether that date is selected unilaterally by the Corporation or Affiliate or by mutual agreement. No period of notice, if any, or payment in lieu of notice that is given or ought to be given, under applicable law in respect to such termination of employment that follows or is in respect of a period after such last date of actual and active employment, will be considered as extending the Participant’s period of employment for purposes of determining his or her entitlement under the Plan.
(6)Right to Performance Share Units in the Event of a Change in Control.  Notwithstanding any other provision of the Plan, in the event of the occurrence of a Change in Control,  with  respect  to  all  Grants  that  are  outstanding  on  the  CIC  Date,  (i)  any  and  all requirements that any level of Performance Criteria, if any, be achieved for any purpose applicable to such Grants shall be waived as of the CIC Date, (ii) except as may be otherwise provided under the terms of any other employee benefit plan approved by the Board, each Participant who has received any such Grants shall be entitled to receive, in full settlement of a Performance Share Unit covered by a Grant, cash that would have been paid to a Participant on any Payment Date during the applicable Grant Period had (x) the Participant continued in the employment of the Corporation or one of its Affiliates until such Payment Date and (y) all Performance Criteria, if any, applicable to such Grant (determined without regard to the occurrence of the Change in Control) had been met (but not exceeded) during the applicable Grant Period, and (iii) the Payment Date shall be ten (10) Business Days following the CIC Date, provided that such Participant 

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has been continuously employed by the Corporation or one of its Affiliates from the Effective Date of such Grant to the CIC Date.
(7)Non-Transferability. The rights or interests of a Participant under the Plan shall not be assignable or transferable, otherwise than by will or the laws governing the devolution of property in the event of death, and such rights or interests shall not be encumbered.
Section 7Taxes and Other Source Deductions.
(1)The Corporation or an Affiliate may withhold from any amount payable to a Participant, either under the Plan or otherwise, such amounts as are required by law to be withheld, deducted or remitted by the Corporation or an Affiliate as a consequence of his or her participation in this Plan (“Withholding Amount”). In the event that a Participant does not deliver to the Corporation or an Affiliate upon the settlement of a Performance Share Unit a cash payment in an amount equal to the Withholding Amount as required in Section 6(3), the Participant shall be deemed to have elected that the Corporation shall have the right, in its discretion, to satisfy any Withholding Amount by:
(a)retaining the amount necessary to satisfy the Withholding Amount from any cash amount which would otherwise be delivered, provided or paid to the Participant by the Corporation or an Affiliate, whether under this Plan or otherwise;
(b)requiring the Participant, as a condition of redemption under Section 6(3) to reimburse the Corporation or an Affiliate for any such Withholding Amount; and/or
(c)making such other arrangements as the Corporation may reasonably require.
Section 8Award of Dividend Equivalents.
Dividend Equivalents will be awarded in respect of Performance Share Units in a Participant’s Account on the same basis as dividends declared and paid on Common Shares as if the Participant was a shareholder of record of Common Shares on the relevant record date. These Dividend Equivalents will be credited to the Participant’s Account as additional Performance Share Units (or fractions thereof), with the number of additional Performance Share Units equal to (a) the actual amount of dividends that would have been paid if the Participant had held Common Shares under the Plan on the applicable record date divided by (b) the closing price for Common Shares on the Toronto Stock Exchange on the date on which the dividends on Common Shares are payable.  For greater certainty, no Performance Share Units representing Dividend Equivalents will be credited to a Participant’s Account in relation to Performance Share Units that have been previously cancelled or paid out of the Plan.
Section 9Adjustments and Reorganizations.
In the event of any stock dividend, stock split, combination or exchange of shares, merger, consolidation, spin-off or other distribution (other than normal 

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cash dividends) of Corporation assets to shareholders, or any other change affecting shares, such proportionate adjustments, if any, as the Committee in its discretion may deem appropriate to reflect such change, shall be made with respect to the number of Performance Share Units outstanding under the Plan, provided that, if the Corporation has CDIs listed on the ASX, such adjustments shall be made in accordance with, and subject to, the ASX Listing Rules.
Section 10Unfunded Plan.
The Plan shall be unfunded.  To the extent any Participant or his or her estate holds any rights by virtue of a grant of Performance Share Units under the Plan, such rights shall be no greater than the rights of an unsecured creditor of the Corporation.  
Section 11Plan Amendment.  
(1)The Board may from time to time amend, suspend or terminate the Plan in whole or in part, without shareholder approval. Subject to applicable securities laws, the Board may from time to time amend the terms of Grants made under the Plan without shareholder approval but subject to the obtaining of any required regulatory or other approvals and, if any such amendment will materially adversely affect the rights of a Participant with respect to a Grant, the obtaining of the written consent of such Participant to such amendment. Notwithstanding the foregoing, (i) the obtaining of the written consent of any Participant to an amendment which materially adversely affects the rights of such Participant with respect to a Grant will not be required if such amendment is required to comply with applicable laws, regulations, rules, orders of governmental or regulatory authorities or the requirements of any stock exchange on which Common Shares or CDIs are listed and (ii) no amendment may be made to Section 6(6) of the Plan or to the defined terms referred to in such Section 6(6) on or after the CIC Date.
(2)The Board may at any time, and from time to time, and without shareholder approval, amend any provision of the Plan, subject to any regulatory or stock exchange requirement at the time of such amendment, including, without limitation:
(a)amendments to the termination provisions of Section 12;
(b)amendments necessary or advisable because of any change in application securities laws;
(c)amendments to Section 4 relating to the administration of the Plan;
(d)the addition or a change to the vesting provisions of a Performance Share Unit or the Plan;
(e)a change to the termination provisions of a Performance Share Unit;
(f)amendments to ensure that the Performance Share Units granted under the Plan will comply with any provisions respecting income 

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tax and other laws in force in any country or jurisdiction in which a Participant may from time to time be resident or a citizen; and
(g)any other amendment, fundamental or otherwise, not requiring shareholder approval under applicable laws or the rules of the Toronto Stock Exchange or the ASX, including amendments of a “clerical” or “housekeeping” nature. 
(3)No amendment shall be made which prevents the Plan from continuously meeting the requirements of paragraph 6801(d) of the Income Tax Regulations (Canada) or any successor provision thereto.
Section 12Plan Termination.
The Committee may decide to discontinue granting awards under the Plan at any time in which case no further Performance Share Units shall be awarded or credited under Section 4 of the Plan.  Any Performance Share Units which remain outstanding in a Participant’s Account at that time shall continue to be dealt with according to the terms of the Plan.  For greater certainty, Dividend Equivalents shall continue to be awarded, as appropriate, in respect of such outstanding Performance Share Units pursuant to Section 8 of the Plan.  The Plan shall terminate when all payments owing pursuant to Section 6 of the Plan have been made and all Performance Share Units have been cancelled in all Participants’ Accounts.
Section 13Final Determination.
Any determination or decision by or opinion of the Committee made or held pursuant to the terms of the Plan shall be final, conclusive and binding on all parties concerned. All rights, entitlements and obligations of Participants under the Plan are set forth in the terms of the Plan and cannot be modified by any other documents, statements or communications, except by Plan amendments referred to in Section 11 of the Plan.
Section 14Participation Voluntary.
Participation in the Plan by a Participant is voluntary.
Section 15No Right to Continued Employment.
Participation in the Plan shall not be construed to give any Participant a right to continue in the employment of the Corporation or its Affiliates or affect the right of the Corporation or its Affiliates to terminate the employment of any Participant.
Section 16Acceptance of Terms by Participant.
Participation in the Plan by any Participant will be construed as acceptance of the terms and conditions of the Plan by the Participant and the Participant’s agreement to be bound thereby. 

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Section 17No Other Benefit.
No amount will be paid to, or in respect of, a Participant under the Plan to compensate for a downward fluctuation in the price of Common Shares nor will any other form of benefit be conferred upon, or in respect of, a Participant for such purpose.
Section 18No Shareholder Rights.
Under no circumstances shall Performance Share Units be considered Common Shares or CDIs nor shall they entitle any Participant to exercise voting rights or any other rights attaching to the ownership of Common Shares or CDIs nor shall any Participant be considered the owner of Common Shares or CDIs by virtue of the award of Performance Share Units.
Section 19Reorganization of the Corporation.
The existence of any Performance Share Units shall not affect in any way the right or power of the Corporation or its shareholders to make or authorize any adjustment, recapitalization, reorganization or other change in the Corporation’s capital structure or its business, or any amalgamation, combination, merger or consolidation involving the Corporation or to create or issue any bonds, debentures, shares or other securities of the Corporation or the rights and conditions attaching thereto or to affect the dissolution or liquidation of the Corporation or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar nature or otherwise.
Section 20Successors and Assigns.
The Plan shall be binding on all successors and assigns of the Corporation.
Section 21General Restrictions and Assignment.
Except as required by law, the rights of a Participant under the Plan are not capable of being anticipated, assigned, transferred, alienated, sold, encumbered, pledged, mortgaged or charged and are not capable of being subject to attachment or legal process for the payment of any debts or obligations of the Participant.
Section 22Section 409A.
(1)It is intended that the provisions of this Plan comply with Section 409A, and all provisions of this Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. Except as permitted under Section 409A, any deferred compensation (within the meaning of Section 409A) payable to or for the benefit of a U.S. Eligible Participant may not be reduced by, or offset against, any amount owing by the U.S. Eligible Participant to the Corporation or any of its affiliates. 
(2)Notwithstanding anything in this Plan to the contrary, if a U.S. Eligible Participant becomes entitled to receive payment in respect of any 

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Performance Share Units as a result of his or her “separation from service” (within the meaning of Section 409A), and the U.S. Eligible Participant is a “specified employee” (within the meaning of Section 409A) at the time of his or her separation from service, and the Committee makes a good faith determination that (i) all or a portion of the Performance Share Units constitute “deferred compensation” (within the meaning of Section 409A) and (ii) any such deferred compensation that would otherwise be payable during the six-month period following such separation from service is required to be delayed pursuant to the six-month delay rule set forth in Section 409A in order to avoid taxes or penalties under Section 409A, then payment of such “deferred compensation” shall not be made to the U.S. Eligible Participant before the date which is six months after the date of his or her separation from service (and shall be paid in a single lump sum on the first day of the seventh month following the date of such separation from service) or, if earlier, the U.S. Eligible Participant’s date of death; in such event, the final payment will be equal to the number of Performance Share Units credited to the U.S. Eligible Participant’s Account multiplied by the Share Price as of the expiration of such six-month period or the date of death. (For illustrative purposes only, if a U.S. Eligible Participant who is a specified employee subject to the provisions of the previous sentence incurs a separation from service on January 16 of a calendar year, any payments of deferred compensation that would be payable to such U.S. Eligible Participant during the six-month period from such January 16 through July 16 shall be accumulated and paid in a single lump sum to such U.S. Eligible Participant on July 17 of such calendar year, or, if earlier, such U.S. Eligible Participant’s date of death.) 
(3)Each U.S. Eligible Participant, any beneficiary or the U.S. Eligible Participant’s estate, as the case may be, is solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or for the account of such U.S. Eligible Participant in connection with this Plan (including any taxes and penalties under Section 409A), and neither the Corporation nor any affiliate shall have any obligation to indemnify or otherwise hold such U.S. Eligible Participant or beneficiary or the U.S. Eligible Participant’s estate harmless from any or all of such taxes or penalties. Notwithstanding any provision of the Plan to the contrary, in the event that the Committee determines that any amounts payable hereunder will be taxable to a Participant under Section 409A prior to payment to such Participant of such amount, the Corporation may (i) adopt such amendments to the Plan and Performance Share Units and appropriate policies and procedures, including amendments and policies with retroactive effect, that the Committee determines necessary or appropriate to preserve the intended tax treatment of the benefits provided by the Plan and Performance Share Units hereunder and/or (ii) take such other actions as the Committee determines necessary or appropriate to avoid or limit the imposition of an additional tax under Section 409A. 

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Section 23Interpretation.
In this Plan words importing the singular meaning shall include the plural and vice versa, and words importing the masculine shall include the feminine and neuter genders.
Section 24Governing Law.
The validity, construction and effect of the Plan and any actions taken or relating to the Plan shall be governed by the laws of the Province of Ontario and the federal laws of Canada applicable therein.
Section 25Currency.
All amounts paid or values to be determined under the Plan shall be in Canadian dollars.
Section 26Severability.
The invalidity or unenforceability of any provision of the Plan shall not affect the validity or enforceability of any other provision of the Plan and any invalid or unenforceable provision shall be severed from the Plan.
Section 27Notice.
Any notice, direction, payment or other communication required, permitted or contemplated by the Plan shall be in writing and shall be sufficiently given if mailed by prepaid registered mail or delivered to the Corporation at its head office (presently 9635 Maroon Circle, Suite 300, Englewood, Colorado, 80112) and to the Participant at his or her address as shown on the books and records of the Corporation.  Any such notice or other communication, if mailed, shall be deemed to have been given on the fifth day (including Saturdays, Sundays and statutory holidays) after the date of mailing and, if delivered, at the time of delivery, as the case may be.  Any party may, at any time or from time to time by notice given as aforesaid to the parties, change its address for such notice or other communication.

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Appendix “A”
GRANT AGREEMENT
[Date]
[Name & Address] 
Dear [Name]:
This is to advise you that in recognition of your contribution to our endeavors, you have been selected to participate in the Alacer Gold Corp. Performance Share Unit Plan (the “Plan”).
Any capitalized terms not defined herein have the meaning ascribed thereto in the Plan.
On  (the “Effective Date”), you were granted (the “Grant”)  Performance Share Units (“PSUs”). Your Grant is subject to the provisions of the Plan (as it may be amended from time to time), a copy of which is appended hereto, and the terms and conditions outlined below.
The last day of the Grant Period applicable to 100% of your Grant is  and the Performance Criteria in respect of your Grant is as follows: .
Provided you meet or exceed the Performance Criteria stipulated above during the relevant Grant Period, and subject to the terms and conditions of the Plan, the PSUs subject to such Performance Criteria and Grant Period will be redeemed by the Corporation and you will receive a cash payment for the equivalent of such PSUs. 
The Participant acknowledges and agrees that [he/she] must remit to the Corporation a cash payment in an amount equal to the Withholding Amount as a consequence of [his/her] participation in the Plan, and hereby agrees to be bound by the terms of Section 7 (Taxes and Other Source Deductions) of the Plan. Any failure to remit the Withholding Amount to the Corporation will result in the Corporation exercising its rights pursuant to Section 7 (Taxes and Other Source Deductions) of the Plan.
By signing below, you represent to the Corporation that (i) your participation in the Plan is voluntary, and has not been induced by the expectation of employment or service or continued employment with the Corporation or an Affiliate of the Corporation, and (ii) you agree to be bound by the terms of the Plan.
Yours sincerely,

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Acknowledgement

I confirm my acceptance of this grant of PSUs under the terms and conditions described above and under the Plan.

Accepted, this ____  day of __________________, 20___.      

_______________________________________
Name:

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 Exhibit 10.13

EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT is made this 1st day of October 2020 BETWEEN:
SSR Mining Inc.
(the “Company”)
- and -
Gregory Martin
(the “Executive”)

RECITALS
A.     The Executive has been employed by the Company since January 31, 2012. Alacer Gold Corp. and the Company entered into a merger of equals effective September 16, 2020. SSR Mining (as defined below) desires to continue to employ the Executive as its Executive Vice President, Chief Financial Officer through the Company and the Executive wishes to accept such employment.
B.    The parties wish to set forth the terms and conditions relating to the Executive’s continued employment with the Company.
C.    The Executive agrees to continue to be employed by the Company on the terms of this employment agreement (the “Agreement”).
In consideration of the mutual covenants and agreements contained in this Agreement, and other good and valuable consideration, the receipt and adequacy of which are acknowledged by both parties, the parties agree as follows.
ARTICLE 1
DEFINITIONS
Section 1.1Defined Terms
As used in this Agreement, the following terms have the following meanings:
“Board” means the Board of Directors of the Company.
“Business” means:  (a) mining and mining exploration; (b) any other business conducted by the Company and/or any affiliated entity (collectively, “SSR Mining”) at the time the Executive’s employment is terminated; and (c) any business that SSR Mining is in the process of developing (as reflected in a written business or strategic plan of SSR Mining known to the Executive) at the time the Executive’s employment is terminated.
“Cause” means:
a)the breach by the Executive of a material term of this Agreement;
b)the repeated and demonstrated failure by the Executive to perform the material duties of his position in a competent manner;
c)the conviction of the Executive of a criminal offense involving fraud or dishonesty, or the conviction of an indictable offense;
 

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d)a material breach by the Executive of his obligations under any written code of ethics, any other written code of business conduct or any written lawful policies or written procedures of the Company;
e)the failure by the Executive to obey reasonable instructions provided to him in the course of employment, within five calendar days after receiving written notice of such disobedience from the Company or a related entity of the Company; or
f)any actions or omissions on the part of the Executive constituting gross negligence or wilful misconduct, resulting in a risk of material harm to SSR Mining.
 “Change of Control” means the occurrence of one or more of the following events: 
a)individuals who, as of the date of this Agreement, constitute the Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of such Board, provided that any person becoming a director after the date of this Agreement and whose election or nomination for election was approved by a vote of at least a majority of the Incumbent Directors then on the Board shall be an Incumbent Director; provided, however, that no individual initially elected as a director of the Company as a result of an actual or threatened election contest with respect to the election or removal of directors (“Election Contest”) or other actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board, including by reason of any agreement intended to avoid or settle any Election Contest or proxy contest, shall be deemed an Incumbent Director;
b)any change in the holding, direct or indirect, of shares in the capital of the Company as a result of which a person or group of persons acting jointly or in concert, or person associated or affiliated with any such person or group within the meaning of the Securities Act (British Columbia), becomes the beneficial owner, directly or indirectly, of shares and/or other securities in excess of the number which, directly or following conversion thereof, would entitle the holders thereof to cast more than 50% of the votes attaching to all shares of the Company which may be cast to elect directors of the Company (the “Company Voting Securities”); provided, however, that the event described in this paragraph (b) shall not be deemed to be a Change of Control by virtue of any of the following acquisitions of Company Voting Securities: 
(i)     by the Company or any subsidiary; 
(ii)      by any employee benefit plan sponsored or maintained by the Company or any subsidiary; or
(iii)     by any underwriter temporarily holding securities pursuant to an offering of such securities.
c)the approval by directors or shareholders of the Company of a complete liquidation or dissolution of the Company;
d)a sale or other disposition of all or substantially all of the property or assets of the Company, other than to an affiliate within the meaning of the Securities Act (British Columbia); or
e)any determination by the majority of Incumbent Directors of the Company that a Change of Control has occurred.
“Confidential Information” means all information owned, possessed or controlled by the Company and/or its affiliates, including, without limitation, all information related to developments, inventions, enhancements, finances, scientific data, technical data, manufacturing, process know-how and marketing information, howsoever received by the Executive and in whatever form (whether oral, written, machine readable or otherwise), which pertains to the Company and/or its affiliates; provided, however, that the phrase “Confidential Information” shall not include information which:
 

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a)was in the public domain prior to the date of receipt by the Executive;
b)is properly within the legitimate possession of the Executive prior to its disclosure during the Term, and without any obligation of confidence attaching thereto;
c)becomes part of the public domain by publication or otherwise, not due to any unauthorized act or omission of the Executive; 
d)after disclosure, is lawfully received by the Executive from another Entity who is lawfully in possession of such Confidential Information and such other Entity was not restricted from disclosing the said information to the Executive;
e)is approved, in writing, by the Board for disclosure prior to its actual disclosure; or
f)the Executive is required by law to disclose, provided that, unless prohibited by law, the Executive first notifies the Board at the first reasonable opportunity that the Executive is required to disclose such Confidential Information.
“Development” means any discovery, invention, design, improvement, concept, design, specification, creation, development, treatment, computer program, method, process, apparatus, specimen, formula, formulation, product, hardware or firmware, any drawing, report, memorandum, article, letter, notebook and any other work of authorship and ideas (whether or not patentable or copyrightable) and legally recognized proprietary rights (including, but not limited to, patents, copyrights, trademarks, topographies, know-how and trade secrets), and all records and copies of records relating to the foregoing, that:
a)result or derive from the Executive’s employment or from the Executive’s knowledge or use of Confidential Information;
b)are conceived or made by the Executive (individually or in collaboration with others) in the course of the Executive’s employment;
c)result from or derive from the use or application of the resources of SSR Mining; or 
d)relate to the business operations of actual or demonstrably anticipated research and development by SSR Mining.
“Disability” means the Executive’s inability to substantially fulfill the Executive’s duties on behalf of the Company for a continuous period of three (3) months or more or the Executive’s inability to substantially fulfill the Executive’s duties on behalf of the Company for an aggregate period of three (3) months or more during any consecutive six (6) month period. If there is any disagreement between the Company and the Executive as to the Executive’s Disability or as to the date(s) any such Disability began or ended, the same shall be determined by a physician mutually acceptable to the Company and the Executive (and/or his representatives) whose determination shall be conclusive evidence of any such Disability and of the date(s) any such Disability began or ended.
“Entity” means a natural person, partnership, limited liability partnership, company, joint stock company, trust, unincorporated association, joint venture or other entity or governmental entity, and pronouns have a similarly extended meaning.
“Good Reason” means the Executive was induced by the actions of the Company to resign or terminate his employment other than on a purely voluntary basis as a result of the occurrence of one or more of the following events without the Executive’s written consent:
a)a materially adverse change in the Executive’s position, duties, powers, rights, discretion, or responsibilities;
b)a materially adverse change in the Executive’s reporting relationship that is inconsistent with the Executive’s title or position;
 

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c)a reduction by the Company of the target compensation of the Executive or a material reduction by the Company in the aggregate level of health & welfare benefits made available to the Executive, except where the reduction in compensation or benefits is part of a general reduction affecting all or substantially all of the Executives of the Company which affects the Executive in substantially the same manner as the other Executives who are also affected by such adverse reduction; or
d)the permanent relocation by the Company of the Executive’s principal office by more than 80 kilometers from the Location.
“Incumbent Directors” means the members of the Board holding office as at the date hereof and any additional directors appointed by or with the consent of the Incumbent Directors during the Term.
“Share Compensation Plan” means the SSR Mining Inc. 2017 Share Compensation Plan approved by the directors of the Company and confirmed by the shareholders of the Company on the 4th day of May, 2017, as amended and confirmed by the shareholders of the Company on the 14th of May, 2020, or any further amendment or replacement to that plan.
“Territory” means within 35 kilometers of any of SSR Mining’s mineral and property rights and interests as of the date of termination of the Executive’s employment for any reason.
ARTICLE 2
EMPLOYMENT
Section 2.1Term and Commencement
This Agreement shall be effective from October 1, 2020 and shall continue for an indefinite period unless terminated earlier in accordance with Article 4 hereof (the “Term”). 
Section 2.2Position
Subject to the terms and conditions hereinafter contained, the Executive will be employed with the Company as the Company’s Executive Vice President, Chief Financial Officer.
Section 2.3Duties of Employment
The Executive shall report to and be subject to the general direction of the President and Chief Executive Officer and shall have such duties and responsibilities as are customary for such position and as are delegated to him by the President and Chief Executive Officer from time to time. 
Section 2.4Performance Standards
During the Term, the Executive shall 
(i)devote his full time, attention and energy to the Company. The Executive shall not, directly or indirectly, render services to any other Entity during the Term, with the exception of family organizations, charitable or community service organizations, and services provided to such other Entities as SSR Mining may approve from time to time provided such activities do not interfere with the Executive’s duties under this Agreement;
(ii)diligently and to the best of his abilities perform the duties and responsibilities assigned to him;
(iii)deal at all times in good faith with SSR Mining, its employees, contractors, officers, directors, clients and suppliers;
(iv)act and conduct himself at all times in the best interest of SSR Mining. 
 

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Section 2.5Policies
The Executive acknowledges that he has received a copy of the Company’s workplace and compensation policies, including the Share Compensation Plan, Executive Incentive Compensation Recoupment Policy, which are incorporated into and form part of this Agreement. The Executive agrees to comply with all policies applying to the Company’s executive employees that may be reasonably issued by SSR Mining from time to time. The Executive agrees that the introduction, amendment and administration of such policies are within the sole discretion of the Company. If the Company introduces, amends or deletes any such policies as conditions warrant, such introduction, deletion or amendment shall not constitute a constructive dismissal or breach of this Agreement. If there is a direct conflict between this Agreement and any such policy, this Agreement shall prevail to the extent of the inconsistency.
The Executive also agrees to comply with all applicable laws, rules and regulations, and all requirements of all applicable regulatory, self-regulatory and administrative bodies.
Section 2.6Location
The Executive will be based in the corporate office in Vancouver (the “Location”). The Company may require the Executive to travel to other locations for the business of the Company (including overseas) from time to time, as necessary, in the sole discretion of the Company. The Executive expressly acknowledges and agrees that such travel requirements do not constitute constructive dismissal or termination for Good Reason.
ARTICLE 3
REMUNERATION AND BENEFITS
Section 3.1Salary
The Company shall pay to the Executive a salary (the “Base Salary”) at the rate of USD $490,000 per annum, payable to the Executive in accordance with the payroll practices of the Company for its senior management as are in effect from time to time. The Executive’s Base Salary will be reviewed on an annual basis by the compensation committee of the Board and may be increased by the Board from time to time and once increased shall thereafter be the Base Salary hereunder.
Section 3.2Bonuses
The Executive shall be eligible to participate in the Company’s short-term incentive plan, which consists of an annual bonus program (the “Bonus”).  The annual bonus target will be 75% of Base Salary, to be adjusted based on annual achievement of SSR Mining and individual performance as measured against established goals, with a maximum opportunity of 150% of Base Salary for exceptional company and individual achievement.  Any award is subject to Board approval.  Except as provided herein, the Executive must be actively employed at the date of payment of such award to be eligible to receive a bonus award. Any approved Bonus shall be payable during the calendar year following the calendar year in which the Bonus was earned and shall be paid in accordance with the normal course of the business. For purposes of this Agreement “actively employed” does not include any period of notice of termination from the Company or payment in lieu of notice, except for the Executive’s minimum statutory notice period under applicable employment standards legislation and the Executive waives the right to receive damages or payment in lieu of any forfeited Bonus payment.
Subject to approval by the Board, the Executive will also be eligible to participate in the Company’s long-term incentive plan(s) (“LTIP”), as may be approved by the Board from time to time. The annual long-term incentive target value will be 175% of Base Salary. The Executive acknowledges and agrees that any agreement entered into in connection with the LTIP is a separate agreement from this Agreement.
All performance targets and results for these incentive plans shall be approved by the Board.
 

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Section 3.3Benefit, Share Purchase and Retirement Savings Plans
a)The Executive will be eligible to participate in the Company’s benefit plans the Company may have in effect for its employees from time to time. The Company reserves the right to amend, alter or vary the benefit plan, and/or change benefit carriers, from time to time.
b)The Executive will be eligible to participate in any employee share purchase plan and any retirement savings plan which the Company establishes from time to time.
Section 3.4Perquisites and Expenses
The Company will pay or reimburse the Executive for all reasonable travelling and other out-of-pocket expenses incurred by the Executive in connection with the Executive’s employment hereunder in accordance with the policies of the Company in effect from time to time.
Section 3.5Vacation
During each full calendar year during the Term, the Executive will be entitled to twenty-five (25) days of paid vacation to be taken at times mutually agreeable to the Executive and the Company.  The Executive will be allowed to carry forward any unused vacation time into the next year.  In addition, the Executive shall be entitled to those holidays which are customarily observed by the Company at the Location, as reflected in the Company’s policies.
Section 3.6Incentive Compensation Recoupment
In the event that the Executive receives an overcompensation amount as defined under the Company’s Executive Incentive Compensation Recoupment Policy and as amended from time to time, the Executive agrees to repay such overcompensation amount to the Company and further agrees that any such required payment will constitute a debt due and owing to the Company, which debt may be set off against any payment the Company owes to the Executive under this Agreement.  
Section 3.7Taxes 
The Company further agrees to reimburse the Executive for financial advice and tax preparation services during the term of this Agreement. Such amounts shall not exceed USD $15,000 per calendar year.
The Company will provide the Executive with tax equalization, if applicable, to account for any tax liabilities above US tax liabilities, resulting from the performance of the Executive’s duties hereunder, to ensure that he will pay neither more nor less taxes than he would have had he remained in his home location in Canada.
ARTICLE 4
TERMINATION
Section 4.1Termination 
This Agreement and the employment contemplated hereunder may (and in the case of Subsection 4.1(c), shall) be terminated, in the following manner and in the following circumstances:
a)by the Executive, at any time, by providing at least 60 days written notice of resignation, including retirement, to the Company in which case this Agreement and the Executive’s employment shall terminate (i) upon the date set forth in the notice from the Executive to the Company, or (ii) at such earlier date as the Company may elect following its receipt of the Executive’s notice, it being understood that if the Company makes such an election, it shall not constitute a termination of employment by the Company;
b)by the Company, for Cause, in which case this Agreement and the Executive’s employment shall terminate immediately upon the Executive’s receipt of a written notice from the Company setting out the basis for termination;
 

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c)automatically, and without further notice, upon the death of the Executive;
d)by the Company, without Cause, for reasons other than death or Disability as provided in subsection 4.1(c) and (f), in which case this Agreement and the Executive’s employment shall terminate immediately upon receipt by the Executive of a written notice of termination from the Company;
e)by the Executive, for Good Reason, provided the Executive has provided written notice of such occurrence to the Company immediately upon Executive’s knowledge of occurrence of such an event and the Company has not corrected such occurrence within 30 days; in which case the Executive’s employment and this Agreement shall terminate at the end of the 30 day period.
f)in the event of the Disability of the Executive, as defined herein, this Agreement and the Executive’s employment will terminate upon the Executive’s receipt of a written notice from the Company confirming termination as a result of Disability.
Section 4.2Payment Upon Termination 
In the event the Executive’s employment is terminated pursuant to Section 4.1, the following shall constitute the full monetary or other entitlement owing to the Executive upon termination:
a)In the event this Agreement is terminated for any reason, the Executive shall be entitled to the following:
(i)payment of the Executive’s accrued wages earned up to the date of termination;
(ii)payment of the value of the Executive’s accrued vacation entitlement that has not been used by the Executive at the time of termination;
(iii)except for termination pursuant to Section 4.1(b), a prorated Bonus for that portion of the year in which the Executive was actively employed.  The amount of any such Bonus shall be calculated as follows:  the product of (A) the average Bonus paid to the Executive for the two (2) fiscal years prior to the fiscal year in which his employment is terminated or, if such information is not available, Executive’s target bonus divided by twelve (12), multiplied by (B) the number of months the Executive was actively employed in the fiscal year in which his employment is terminated;
(iv)payment of any accrued and unpaid business expenses at the date of termination required to be reimbursed under Section 3.4 of this Agreement;
(v)any rights in respect of any equity based compensation to which the Executive may be entitled to at the time of such termination shall be dealt with in accordance with the terms of the Share Compensation Plan or other form of equity-based compensation in accordance with the respective plans.
b)Should the Agreement be terminated pursuant to Subsection 4.1(d) or 4.1(e), the Executive shall also be entitled to:
(i)Payment of a lump sum amount equal to 24 month’s Base Salary;
(ii)payment of a lump sum amount in lieu of any Bonus entitlement to be calculated as follows: 24 months’ average annual Bonus, earned by the Executive in the two (2) years immediately preceding termination. If this Agreement is terminated before the Executive completes two (2) years’ service under this Agreement, the average annual Bonus shall be calculated based on the target Bonus for any incomplete year(s) of service and the actual Bonus earned for each completed year of service;  
 

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(iii)the payments specified in Sections 4.2 shall be made in a lump sum, less deductions required by law, on the next regular payroll date of the Company following the date of termination; and
(iv)continued participation in the insurance benefits in which the Executive was participating pursuant to Section 3.3, above, as of the date of termination, until the earlier of (x) the date twenty-four (24) months after the date of termination, or (y) the date the Executive becomes eligible for substantially similar benefits under a benefit plan, program or arrangement through a different employer of him or his spouse. In the event that the Executive's continued participation in any such plan, program or arrangement of the Company is prohibited by the terms of such plan or applicable benefit-continuation laws, the Company shall arrange to provide the Executive with an amount equal to the value to the Executive (as determined by the Company's auditors) of such benefits calculated for the remainder of the twenty-four (24) month period. 
Section 4.3Other Termination Rights 
In lieu of and not in addition to the termination payments and benefits provided for in Section 4.2 herein, if within twelve (12) months following a Change of Control, the Executive’s employment with the Company is terminated by the Company without Cause (including a resignation by the Executive for Good Reason) but not for reasons of death, Disability, or voluntary resignation, the Company shall pay or provide to the Executive following the date of such termination the following which shall constitute the Executive’s full monetary or other entitlement upon termination:
a)the Executive’s Base Salary earned up to the date of termination;
b)the value of the Executive’s accrued vacation that has not been used by him at the time of termination;
c)any accrued unpaid business expenses at the date of termination required to be reimbursed under Section 3.4 of this Agreement;
d)a lump sum amount equal to 24 months’ Base Salary;
e)a lump sum amount in lieu of any Bonus entitlement to be calculated as follows: 24 months’ average annual Bonus, earned by the Executive in the two (2) years immediately preceding termination. If this Agreement is terminated before the Executive completes two (2) years’ service under this Agreement, the average annual Bonus shall be calculated based on the target Bonus for any incomplete year(s) of service and the actual Bonus earned for each completed year of service;
f)a prorated Bonus for that portion of the year in which the Executive was actively employed.  The amount of any such Bonus shall be calculated as follows:  the product of (A) the average Bonus paid to the Executive for the two (2) fiscal years prior to the fiscal year in which his employment is terminated or, if such information is not available, Executive’s target bonus divided by twelve (12), multiplied by (B) the number of months the Executive was actively employed in the fiscal year in which his employment is terminated;
g)any rights in respect of any equity based compensation to which the Executive may be entitled to at the time of such termination shall automatically vest to the Executive as of the date of termination in accordance with the terms of the Share Compensation Plan or other form of equity-based compensation in accordance with the respective plans; and
 

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h)continued participation in the insurance benefits in which the Executive was participating pursuant to Section 3.3, above, as of the date of termination, until the earlier of (x) the date twenty-four (24) months after the date of termination, or (y) the date the Executive becomes eligible for substantially similar benefits under a benefit plan, program or arrangement through a different employer of him or his spouse. In the event that the Executive's continued participation in any such plan, program or arrangement of the Company is prohibited by the terms of such plan or applicable benefit-continuation laws, the Company shall arrange to provide the Executive with an amount equal to the value to the Executive (as determined by the Company's auditors) of such benefits calculated for the remainder of the twenty-four (24) month period. 
Section 4.4Mitigation
The Executive shall not be required to mitigate the amount of any payments or the entitlement to any benefits provided for under Section 4.2(b) or 4.3 by seeking other employment nor shall any payment or benefit provided for in such Section be reduced by any compensation or remuneration and/or benefits earned by the Executive as a result of employment by another employer or the rendering of services after the date of termination.
Section 4.5Effect of Termination
Upon termination of the Executive’s employment for any reason whatsoever, the Executive shall thereupon be deemed to have immediately resigned any position the Executive may have as an officer or director of the Company, together with any other office, position or directorship which the Executive may hold with any affiliates or related entities of the Company. In such event, the Executive shall, at the request of the Company, forthwith execute any and all documents appropriate to evidence such resignations, and in any event irrevocably authorises the Company Secretary of the Company to execute these documents on his behalf, and cause any shares of the Company’s subsidiaries held by the Executive to be assigned as directed by the Company. The Executive shall not be entitled to any payments in respect of such resignations in addition to those provided for herein.
Section 4.6Release
The Executive agrees that the post-termination payment by the Company of any amounts provided for in Sections 4.2 or 4.3, above (except for payments mandated by applicable law), shall be intended to be in full and final settlement of any and all actions, causes of actions, suits, claims, demands and entitlements whatsoever which the Executive then has or may have against the Company, its affiliates and/or any of their respective directors, officers, employees, representatives, successors and assigns (collectively, the “Releasees”) arising out of or relating to the Executive’s hiring, the Executive’s employment and/or the termination of the Executive’s employment or this Agreement.  In keeping with that intention, the Executive’s receipt of any such post-termination amounts to which he would not otherwise be entitled shall be conditional on the Executive executing a fully integrated general release in favor of the Releasees.  
Section 4.7Suspension or Termination of Benefits and Compensation
In the event that the Executive has breached any provisions of Articles 5, 6, 7, 8 or 9, the Company shall have the right to suspend or terminate any or all remaining payments and/or benefits, if any, referenced in Sections 4.2 and 4.3 of this Agreement. Such suspension or termination of payments and/or benefits shall be in addition to and shall not limit any and all other rights and remedies as set out in Section 9.2 of this Agreement that the Company may have against the Executive.
 

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ARTICLE 5
CONFIDENTIAL INFORMATION
Section 5.1Confidentiality 
a)During the Term and indefinitely following termination thereof, the Executive shall not use, divulge, diffuse, sell, transfer, give, circulate, or otherwise distribute to any Entity whatsoever or whomsoever, or otherwise make public, any Confidential Information.
b)Notwithstanding any provision of this Agreement to the contrary, the Executive shall have the right to use, reproduce or disclose Confidential Information in furtherance of the performance of the Executive’s duties if the Executive reasonably believes that such use, reproduction or disclosure is in the best interests of the Company, in which event, the Executive shall, at all times, take all reasonable measures in order to prevent further disclosure, reproduction or non-authorized use of such Confidential Information.
c)Except when impliedly authorized by the nature of the Executive’s duties, under no circumstances shall the Executive reproduce any Confidential Information without the prior written consent of the Board. All reproductions of Confidential Information shall be governed by this Agreement and shall be treated as Confidential Information hereunder.
d)The Executive shall not publish or release or allow the publication or release of any material containing Confidential Information without the prior written consent of the Board.
e)The Executive shall not install, copy or receive any Confidential Information into the Executive’s own or any other computer or computer system not owned and controlled by the Company, without the express written permission of the Board. Where the Executive has received permission from the Board to so install, copy or receive Confidential Information, the Executive shall be solely responsible to the Company for the security of such Confidential Information and shall follow any and all directions given by the Board.
Section 5.2Company Property
Confidential Information (including any reproduction thereof) shall remain the sole property of the Company and shall be returned to the Company immediately upon request or upon the termination of the Executive’s employment, for any reason.
ARTICLE 6
NON-SOLICITATION & NON-COMPETITION
Section 6.1Non-Solicitation of Employees
The Executive shall not, during the Term and for a period that is the greater of (i) twelve (12) months or (ii) the number of months of termination pay received by the Executive pursuant to Section 4.2(b)(i) or 4.3(d) of this Agreement, immediately following the termination of the Executive’s employment, for any reason, on the Executive’s own behalf or on behalf of or in connection with any other Entity, without the prior written consent of the Company, directly or indirectly, in any capacity whatsoever, alone through or in connection with any Entity:  
a)seek in any way to persuade or entice any employee of the Company or any of its affiliates with whom the Executive has dealt during his employment with the Company to leave his or her employment with the Company or any of its affiliates;
b)seek in any way to persuade or entice any contractor engaged by the Company or any of its affiliates with whom the Executive has dealt during his employment with the Company to terminate his engagement with the Company or any of its affiliates 
 

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Section 6.2Non-Competition
The Executive shall not, during the Term and for a post-employment period of twelve (12) months, on the Executive’s own behalf or on behalf of any Entity, whether directly or indirectly, in a capacity that is the same as or similar to the position occupied by the Executive while an employee of the Company, alone, through or in connection with any Entity, carry on or be engaged in or have any financial or other interest in or be otherwise commercially involved in any endeavor, activity or business in all or part of the Territory which is competitive, in any way, with the Business.
The Executive shall, however, not be in violation of Section 6.1, above, solely by virtue of the Executive holding, strictly for portfolio purposes and as a passive investor, no more than one percent (1%) of the issued and outstanding shares of or any other interest in, any body corporate which is listed on any recognized stock exchange, the business of which body corporate is in competition, in whole or in part, with SSR Mining.

ARTICLE 7
NON-DISPARAGEMENT
Section 7.1Non-Disparagement
The Executive covenants and agrees that during the Term and indefinitely thereafter the Executive shall not engage in any pattern of conduct that involves the making or publishing of written or oral statements or remarks (including, without limitation, the repetition or distribution of derogatory rumours, allegations, negative reports or comments) which are disparaging, deleterious or damaging to the integrity, reputation or goodwill of the Company, its affiliates or its and their management, agents or employees.
ARTICLE 8
INTELLECTUAL PROPERTY
Section 8.1Ownership of Intellectual Property
(a)All worldwide rights, title and interest in any and all advances, computer programs, concepts, compositions, data, database technologies, designs, discoveries, domain names, drawings, formulae, ideas, improvements, integrated circuit typographies, inventions, know-how, mask works, sketches, software, practices, processes, research materials, trade-secrets, work methods, patents, trade-marks, copyright works and any other intellectual property (whether registrable or not) produced, made, composed, written, performed, or designed by the Executive, either alone or jointly with others, in the course of the Executive’s employment with the Company and in any way relating to the business of the Company (the “Intellectual Property”), shall vest in and be the exclusive property of the Company.
(b)Both during the Term and following termination of employment with the Company, the Executive will fully and promptly disclose to the Company, complete details of any Intellectual Property right arising in connection with the Executive’s employment, with the intention that the Company shall have full knowledge and ownership of the working and practical applications of such right.
(c)At the expense of the Company, the Executive will co-operate in executing all necessary deeds and documents and shall co-operate in all other such acts and things as the Company may reasonably require in order to vest such Intellectual Property rights in the name of the Company.
(d)The Executive hereby waives any and all author’s, moral, and proprietary rights that the Executive may now or in the future have in any Intellectual Property developed in the course of the Executive’s employment with the Company.
 

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(e)The Company shall have the sole and exclusive ownership of and right of control over any and all business, customers, and goodwill created or developed by the Executive in the course of the Executive’s employment with the Company, including all information, records, and documents concerning business and customer accounts and all other instruments, documents, records, data, and information concerning or relating to the Company’s business activities, interests and pursuits. 
Section 8.2Moral Rights
The Executive hereby irrevocably waives, in favour of the Company, its successors, assigns and nominees, all rights arising under the copyright laws of Canada, the United States of America, Argentina, Peru, and Mexico, pursuant to legislation or at common law, to the full extent that such rights may be waived in each respective jurisdiction, that the Executive may have now or in the future with respect to the Development. 
ARTICLE 9
RECOGNITION
Section 9.1Recognition
a)The Executive recognizes and expressly acknowledges that:  (i) the application of the Articles 5, 6, 7, and 8 of this Agreement will not have the effect of prohibiting him from earning a living in a satisfactory manner in the event of the termination of the Executive’s employment and of this Agreement, and (ii) the Company would be subject to an irreparable prejudice should one or several of said Articles be infringed, or should the Executive be in breach of any of the Executive’s obligations thereunder.
b)The Executive further recognizes and expressly acknowledges that Articles 5, 6, 7, and 8 of this Agreement grant to the Company only such reasonable protection as is reasonably necessary to preserve the legitimate interests of the Company and the Executive equally recognizes, in this respect, that the description of the Business and the extent of any restraint on his post-employment activities is reasonable.
Section 9.2Remedies
The Executive hereby recognizes and expressly acknowledges that the Company would be subject to irreparable harm should any of the provisions of Article 5, 6, 7, and 8 be infringed, or should any of the Executive's obligations thereunder be breached by the Executive, and that damages alone will be an inadequate remedy for any breach or violation thereof and that the Company, in addition to all other remedies, shall be entitled as a matter of right to equitable relief, including temporary or permanent injunction to restrain such breach.
ARTICLE 10
GENERAL
Section 10.1Notice Provisions
Except as otherwise expressly provided herein, all notices relating to this Agreement shall be in writing and either delivered by hand, courier service or email transmission and addressed as follows:
The Executive:    Gregory Martin
[REDACTED]
    [REDACTED]

The Company:    SSR Mining Inc.
    7001 E Bellevue Ave
    Suite 800
    Denver, CO 80112
 
Attention:      Vice President, Human Resources
 

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Any address referred to in this Section 10.1 may be changed by notice given in accordance with the provisions of this Section. Any notice which is delivered by hand, courier service or facsimile transmission shall be effective when delivered. 
Section 10.2Entire Agreement
This Agreement, its schedules and the documents expressly referenced herein constitutes the entire agreement between the Company and the Executive and sets out all the covenants, promises, representations, conditions and agreements between the Company and the Executive in connection with the subject matter of this Agreement and supersedes and replaces all prior agreements, understandings, negotiations and discussions, whether oral or written, pre-contractual or otherwise.  There are no covenants, promises, representations, conditions or other agreements, whether oral or written, pre-contractual or otherwise, express, implied or collateral, whether statutory or otherwise, between the Company and the Executive in connection with the subject matter of this Agreement except as specifically set forth in this Agreement.
Section 10.3Survival
It is expressly agreed by the parties hereto that the provisions of Articles 5, 6, 7, 8, 9 and 10 shall survive the termination of this Agreement and the termination of the Executive’s employment, for any reason.
Section 10.4Privacy
By accepting employment with the Company, the Executive acknowledges and agrees that the Company may collect, use and disclose the Executive’s personal information for purposes relating to the establishment and maintenance of the employment relationship. 
If the Executive’s specific consent to the collection, use or disclosure of the Executive’s personal employee information is required in the future, the Executive hereby agrees to provide such consent. If the Executive refuses or withdraws the Executive’s consent, the Executive acknowledges that the Executive’s employment with the Company may be negatively affected. 
Section 10.5Governing Law
This Agreement will be governed by and construed in accordance with the laws of the Province of British Columbia and the laws of Canada applicable therein (the “Forum”).  Any dispute or controversy arising under or relating to this Agreement shall be submitted to the exclusive jurisdiction of the provincial courts sitting in the Forum, whether or not any of the parties (or any third-party beneficiary) is now or hereafter becomes a resident or citizen of a different jurisdiction, subject to Section 9.2, above.
Section 10.6Successors and Assigns
This Agreement may not be assigned by either party. In the event of a Change of Control, the Company shall use their best efforts to require any successor(s), whether direct or indirect, to all or substantially all of the shares or assets of the Company to expressly agree to assume and to perform this Agreement in the same manner that the Company would have been required to perform if no such Change of Control had occurred. If the Company fails to obtain any successor’s express agreement prior to the effective date of Change of Control, such failure shall be deemed to be an event of Good Reason in respect of the Executive’s employment with the Company and such event shall be deemed to have occurred on the effective date of the Change of Control.
Section 10.7Execution of Further Documents
The Company and Executive agree that they shall, from time to time and at all times, do all such further acts and execute and deliver all such further documents and assurances as shall be reasonably required in order to fully perform and carry out the terms of this Agreement.
 

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Section 10.8Amendments and Waivers
No supplement, modification, amendment or waiver of this Agreement shall be binding unless executed in writing by the Executive and the Company. No waiver of any of the provisions of this Agreement shall be deemed to constitute a waiver of any other provision (whether or not similar), nor shall such waiver constitute a waiver or continuing waiver unless otherwise expressly provided in writing. 
Section 10.9Severability
In the event that any provision or any part of any provision hereof is deemed to be invalid by reason of the operation of any law or by reason of the interpretation placed thereon by a court, this Agreement shall be construed as not containing such provision or part of such provision and the invalidity of such provision or such part shall not affect the validity of any other provision or the remainder of such provision hereof. All other provisions hereof which are otherwise lawful and valid shall remain in full force and effect.
Section 10.10Compliance with Employment Standards Legislation
In the event that the minimum standards set out in the applicable employment standards legislation (as may be amended from time to time) are more favourable to the Executive in any respect than a term or provision provided for in this Agreement, including without limitation the terms set out in Article 4 above, the Executive and the Company agree that the statutory provisions will apply in respect of that term or provision.
Section 10.11Legal Advice
The Executive acknowledges that the Executive has been afforded the opportunity to obtain independent legal advice with respect to this Agreement and that the Executive fully understands the nature and consequences of this Agreement. 
Section 10.12Currency
All amounts expressed herein are in United States dollars unless otherwise noted and all payments hereunder are subject to all applicable and required deductions.
Section 10.13Preamble/Recital
The Executive and the Company acknowledge and agree that the provisions contained in the preamble/recital section of this Agreement shall form part of this Agreement and may be relied upon by either party.
Section 10.14Gender
Whenever the context of this Agreement so requires or permits, the masculine gender includes the feminine gender.
Section 10.15Counterparts
This Agreement may be executed by the parties in one or more counterparts, each of which when so executed and delivered shall be deemed to be an original and such counterparts shall together constitute one and the same instrument.
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IN WITNESS WHEREOF the parties have caused this Agreement to be executed as of the effective date first above written.
SSR Mining Inc.
By: ____________________________
Rod Antal
President & CEO

Executive
    ________________________________
Gregory Martin

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