Document:

Exhibit 10.25

 

Independent Director Compensation Policy

 

1.             Base Compensation.  Mattress Firm Holding Corp. (the “Company”) shall pay each director who meets the criteria for each of (i) “outside director,” as such term is used in Section 162(m) of the Internal Revenue Code of 1986, as amended, (ii) “non-employee director,” as such term is used in Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and (iii) “independent director,” as defined in Rule 5605(a)(2) of the NASDAQ Marketplace Rules and Section 10A(m)(3) of the Exchange Act (each, an “Independent Director”), an amount of $40,000 per annum payable in four equal installments at the beginning of each fiscal quarter in respect of such Independent Director’s service on the Company’s Board of Directors (the “Board”) subject to the Independent Director’s continued service on the Board.

 

2.             Committees. The Company shall pay each Independent Director an amount of $5,000 per annum payable at the beginning of each fiscal year in respect of such Independent Director’s service as chair of any committee of the Board ($5,000 per each committee chaired). Additionally, each Independent Director who is a member of the Audit Committee of the Board shall be paid an amount of $5,000 per annum payable at the beginning of each fiscal year; provided, for the avoidance of doubt, that the Independent Director who serves as the Chairman of the Audit Committee shall receive an aggregate of $10,000 for such Independent Director’s service on the Audit Committee.

 

3.             Reimbursement of Travel and Other Expenses. The Company shall promptly pay or reimburse each Independent Director for all ordinary and reasonable out-of-pocket expenses actually incurred (and, in the case of reimbursement, paid) by such Independent Director in connection with attending meetings of the Board and any committee thereof on which he or she serves; provided that such Independent Director submits proof of such expenses, with all properly completed forms as prescribed from time to time by the Company, no later than 60 days after such expenses have been so incurred; and it being understood that airfare for first class travel (but not expenses incurred in connection with the use of a private plane in excess of the cost of first class airfare for comparable travel) shall be a reimbursable expense.

 

4.             Restricted Stock Grants. Each Independent Director shall receive an award of Restricted Stock (as defined in the Mattress Firm Holding Corp. 2011 Omnibus Incentive Plan (the “Plan”)) under the Plan on the first day of each fiscal year of the Company for a number of shares of Restricted Stock determined by dividing $40,000 by the average closing price of the Company’s common stock, par value $0.01 per share, over the 30 trading days immediately preceding the date of grant; provided that the number of shares of Restricted Stock shall be rounded down in the case of any fractional shares and no cash shall be payable in respect of any such fractional shares.  Subject to such Independent Director’s continued service as an Independent Director, such Restricted Stock shall vest in full on the first anniversary of the date of grant.  Effective upon such Independent Director’s resignation or removal from the Board, all unvested shares of Restricted Stock held by such Independent Director shall be forfeited.  Such Restricted Stock shall be issued pursuant to a form of Restricted Stock Award, as approved by the Board or the Compensation Committee.MD - Filed by Filing Services Canada Inc. (403) 717-3898

THIS ASSIGNMENT AGREEMENT is dated effective as of the 10th day of March, 2010.

 

BETWEEN:

	
  

	
MINCO GOLD CORPORATION, a company duly incorporated pursuant to the laws of British Columbia and having an office at Suite 2772 – 1055 West Georgia Street, Vancouver, British Columbia

(hereinafter called the "Minco Gold”)

 OF THE FIRST PART

 

AND:

	
  

	
MINCO MINING (CHINA) CORPORATION, a company duly incorporated pursuant to the laws of the Peoples Republic of China and having an office at Suite 2772 – 1055 West Georgia Street, Vancouver, British Columbia

(hereinafter called the "Minco China")

 OF THE SECOND PART

	
  

	
(Minco Gold and Minco China are hereinafter collectively called the "Assignors")

AND:

	
  

	
MINCO SILVER CORPORATION, a company duly incorporated pursuant to the laws of British Columbia and having an office at Suite 2772 – 1055 West Georgia Street, Vancouver, British Columbia

	
  

	
(hereinafter called the "Assignee")

 OF THE THIRD PART

WHEREAS:

	
(a)

	
Minco China is a wholly owned Chinese subsidiary of Minco Gold;

	
(b)

	
Minco China is the registered holder of a 90% equity interest (the “Foshan Equity Interest”);   in Foshan Minco Fuwan Mining Co. Ltd. (“Foshan Minco”), a Chinese corporation;

	
(c)

	
Foshan Minco is the holder of all exploration and mining permits relating to the Fuwan silver property located in Guangdong Province in southern China (the “Fuwan Property”);

	
(d)

	
Beijing Minco Yinyuan Mining Technology Co. Ltd. is a wholly owned Chinese subsidiary of Minco Silver (“Minco Yinyuan”);

 

  

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(e)

	
The Assignors have agreed to assign to the Assignee all their right, title and interest in and to the Foshan Equity Interest;

 

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the Assignee paying to the Assignors the sum of One Dollar ($1.00) and other good and valuable consideration as hereinafter described, the parties hereto covenant and agree each with the other as follows:

	
1.

	
Effective as of and from the date hereof, the Assignors hereby grant, assign, transfer and set over onto the Assignee, its successors and assigns, all their respective rights, benefits, titles and interests in and to the Foshan Equity Interest.

 

	
2.

	
The Assignors hereby jointly and severally covenant with the Assignee as follows:

	
  

	
(a)

	
Minco China is the lawful owner of all right, title and interest in and to the Foshan Equity Interest and has the right to assign its title and interest in the Foshan Equity Interest to the Assignee;

	
  

	
(b)

	
The Assignors have not done nor permitted any act, matter or thing whereby the Foshan Equity Interest has been assigned, in whole or in part, or encumbered and the Assignors have not done nor permitted any act, matter or thing whereby the Foshan Equity Interest has been assigned, in whole or in part, or encumbered;

	
  

	
(c)

	
there are no disputes of which the Assignors are aware between the Assignors and any third parties in respect to the Foshan Equity Interest; and

	
  

	
(d)

	
upon written request of the Assignee from time to time, the Assignors shall for no additional consideration, forthwith execute and deliver all such assignments and other deeds as may be required to effectively assign all right, title and interest in and to the Foshan Equity Interest to Minco Yinyuan or such other entity as Minco Silver may direct.

 

	
3.

	
The Assignors hereby covenant with the Assignee that the Assignors will, at the request of the Assignee, perform and execute every act, matter or thing, instrument, document, writing, agreement or covenant necessary, desirable or useful in connection with the full performance of this Agreement.  All costs associated with the foregoing shall be the responsibility of Minco Silver.

	
4.

	
The Assignee covenants and agrees to indemnify and hold the Assignors harmless from any further liabilities, expenses, costs or damages arising from the Foshan Equity Interest but for greater certainty not including any liabilities, expenses, costs or damages arising from or in connection with the Assignor’s ownership of the Foshan Equity Interest prior to the effective date of this Agreement

	
5.

	
This Agreement shall enure to the benefit of and be binding upon the successors and assigns of the parties hereto, and shall be governed by and construed in accordance with the laws of the Province of British Columbia, Canada.

 

  

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6.

	
This Agreement may be signed by facsimile and in counterpart.  Signed counterpart copies, when read together, shall be irrevocably deemed to constitute a single binding Agreement signed by both parties.

IN WITNESS WHEREOF THIS AGREEMENT has been executed by the parties as of the day and year first above written.

 

MINCO GOLD CORPORATION

 

	 	/s/ Ken Z. Cai	 
	Per: 	 	 
	 	Authorized Signatory	 

 

MINCO MINING (CHINA) CORPORATION

 

	 	/s/ Ken Z. Cai	 
	Per:   	 	 
	 	Authorized Signatory	 

 

MINCO SILVER CORPORATION

 

	 	/s/ Ken Z. Cai
	Per:	 	 
	 	Authorized Signatory

 
   

   

   

  

3MD - Filed by Filing Services Canada Inc. (403) 717-3898

 

COST SHARING AGREEMENT

THIS AGREEMENT made as of the 10th day of March, 2010.

 

BETWEEN:

 

MINCO GOLD CORPORATION, a corporation incorporated under the laws of British Columbia and having an address at Suite 2772 - 1055 West Georgia Street Vancouver, British Columbia, V6E 3P3

 

("Minco Silver")

 

AND:

MINCO SILVER CORPORATION, a corporation incorporated under the laws of British Columbia and having an address at Suite 2772 - 1055 West Georgia Street Vancouver, British Columbia, V6E 3P3

 

("Minco Gold")

 

WHEREAS:

 

	
a)  

	
Minco Gold is a junior mineral exploration company and the parent company to Minco Mining (China) Corporation who holds a 51% interest in Guangzhou Mingzhong Mining Co. Ltd. ("Mingzhong"), a cooperative joint-venture established to explore and develop the Changkeng gold project (the "Changkeng Property") located in southern China approximately forty five (45) kilometers south west of Guangzhou, the capital city of Guandong Province.

 

	
b)  

	
Minco Gold has the right to earn up to a 51% interest in the Changkeng Property with a total capital contribution of RMB$51,000,000.

 

	
c)  

	
On August 20, 2004 Minco Gold assigned to Minco Silver a junior mineral resource company that controls 100% of the Fuwan Silver Project adjoining the Changkeng Property the right to earn up to a corresponding 51% interest in the Changkeng Property's silver mineralization (the "Changkeng Silver Mineralization").

 

	
d)  

	
In 2007 Mingzhong was granted a business license to explore and develop the Changkeng Property underlying the reconnaissance survey exploration permit #T01120080102000011 (the "Changkeng Permit").

 

	
e)  

	
In January 2008 Mingzhong purchased a 100% interest in the Changkeng Permit for the acquisition cost of RMB$48,363,300 of which Minco Gold is responsible for 51% orRMB$24,665,283.

 

	
f)  

	
Minco Gold and Minco Silver wishes to share in Minco Gold's costs associated with the acquisition of the Changkeng permit and the costs associated with the exploration and development of the Changkeng Property.

 

                                                                                                                     

 

  

1

  

 

NOW  THEREFORE  THIS  AGREEMENT  WITNESSES  that  in  consideration  of the agreements and payments provided herein, the parties agree as follows:

 

1.   COST SHARING

 

	
1.1  

	
Changkeng Permit Acquisition - Minco Silver shall be responsible pay to Minco Gold thirty percent (30%) of Minco Gold's obligation to pay up to a fifty one percent (51%) contribution to Mingzhong's acquisition cost of RMB$48,363,300 to purchase the Changkeng Permit or RMB$7,399,584.90. The parties acknowledge that, as of the date of this Agreement, Minco Silver has paid Minco Gold the sum of C$1,205,298 in full satisfaction of the foregoing obligation.

 

	
1.2  

	
Changkeng Silver Mineralization Costs - Minco Silver shall reimburse 100% of Minco Gold's exploration and development costs associated with the Changkeng Silver Mineralization which, for greater certainty, represents a portion of Minco Gold's obligation to make payment to Mingzhong of 51% of the total costs of exploration and development on the Changkeng Silver Mineralization. As at the date of this Agreement, the parties acknowledge that Minco Silver has paid the sum of C$207,710 to Minco Gold for work conducted in 2008 in relation to the Changkeng Silver Mineralization and which represents 51% of the total amount of C$407,275 expended by Mingzhong on the Changkeng Silver Mineralization.

 

2.   GENERAL

 

	
2.1  

	
Entire Agreement - This Agreement constitutes the entire agreement between the parties pertaining to the subject matter hereof and supersede all prior agreements, understandings, negotiations and discussions, whether oral or written, between the parties with respect to the subject matter hereof. There are no representations, warranties, covenants or conditions with respect to the subject matter hereof except as contained herein.

 

	
2.2   

 

2.3  

	
Successors - This Agreement shall enure to the benefit of and be binding upon each of the parties and their respective heirs and successors.

 

Assignment - this Agreement may not be assigned by either party.

 

	
2.4  

	
Governing Law - This Agreement shall be governed by and interpreted in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein and each of parties hereby irrevocably attorns to the exclusive jurisdiction of the courts of the Province of British Columbia.

 

                                                                                                                     

  

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  2.5   

	
Further Assurances - Each party shall, from time to time, and at all times hereafter, at the request of the other of them, but without further consideration, do, or cause to be done, all such other acts and execute and deliver, or cause to be executed and delivered, all such further agreements, transfers, assurances, instruments or documents as shall be reasonably required in order to fully perform and carry out the terms and intent hereof including, without limitation, the Plan of Arrangement.

 

   

   

   

   

   

   

  

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