Document:

ex10-5.htm

    Exhibit
10.5

     

    
      GLOBAL
GOLD CORPORATION GUARANTEE

       

      THIS
GUARANTEE, made this 25th day
of February, 2010, by GLOBAL
GOLD CORPORATION, a Delaware USA corporation  with its
principal offices at 45 East Putnam Avenue, Greenwich, Connecticut,
USA  (hereinafter called the “Guarantor”), in favor
of  INDUSTRIAL
MINERALS SA, c/o Lenz & Staehelin, Rte de Chêne 30, 1208 Genève,
Switzerland   (hereinafter
called “Obligor”).

       

      W I T N E
S S E T H :

       

      1.  Guarantee of
Obligations.  Guarantor hereby guarantees to Obligor the
complete and punctual payment or performance of each and every indebtedness and
obligation (collectively, the “Obligations”), now existing or arising at any
time hereafter, of Obligee to Obligor between Obligor and MEGO GOLD, LLC, registered
offices at Suite #2, 2A Tamanian Street, Yerevan, Armenia, 0009
(hereinafter called “Obligee”) arising out of or
relating directly or indirectly to the “Gold Concentrate Supply Contract” dated
as of February 25th
2010  and the related “Security Agreement”  dated as of
February 25th 2010
(copies of both executed agreements are attached hereto and made a part
hereof.)

       

      2.  Absolute, Unconditional
Guarantee.  This guarantee is an absolute, present, primary,
continuing, unlimited and unconditional guarantee of payment and performance,
and, without limitation.  If Obligee at any time fails to pay or
perform any of the Obligations, Guarantor shall immediately effect complete
payment and performance.  Obligor shall have the right in its sole
discretion to select the enforcement of the collateral under the Security
Agreement and/or this Guarantee in case of default by the Obligee to duly
perform any Obligation. Choice by the Obligor on enforcement of the Security
Agreement collateral shall not result in waiver and/or cancellation of the
rights vested to Obligor under this Guarantee. The payment by the Guarantor of
the whole amount owed to the Obligor by Obligee shall be sufficient ground for
termination of the Security Agreement.

       

      3.  Amendment.  No
right or benefit in favor of Obligor shall be deemed waived, no obligation or
liability of Guarantor hereunder shall be deemed modified, diminished, released,
compromised, extended, discharged or otherwise affected, and no provision or
term hereof may be amended, modified or otherwise changed except by an
instrument in writing, specifying the same, duly executed by
Obligor.

       

      4.  Assigns.  This
guarantee and all rights and obligations hereunder shall inure to the benefit of
and shall be binding on Obligor, Guarantor and their respective successors and
assigns.

       

                 5.  Incorporation of Gold
Concentrate Supply Contract Terms .    The parties
expressly incorporate by reference the provisions of the  Gold
Concentrate Supply Contract, including but not limited to those related to
choice of law and choice of forum.

      

      IN
WITNESS WHEREOF, the parties have duly executed this Guarantee on or as of the
date first above mentioned.ex_10-1.htm

     

    
      Exhibit
10.1

      Caterpillar
Inc.

      2006
Long-Term Incentive Plan

      Restricted
Stock Units

      Subject
to Transfer Restrictions

      

      March
1, 2010

      

      On March 1, 2010
(the “Grant Date”), pursuant to an equity award grant made by Caterpillar Inc.
(the “Company”) under the Company’s 2006 Long-Term Incentive Plan (the “Plan”),
you, James W. Owens, received an equity award of 300,000 restricted stock units
(the “RSUs”).  This document specifies the material terms and
provisions applicable to such award (the “RSU Award”).

      

      Vesting

      Your RSUs will
vest on November 1, 2010 (the “Vesting Date”) provided you are continuously
employed by the Company through October 31, 2010, except as otherwise provided
below. If your employment terminates for any reason other than disability or
death (as described more fully below) prior to October 31, 2010, the RSU Award
will be forfeited.

      

      Upon vesting of the
RSUs, you will receive shares of common stock of the Company equal to the number
of RSUs awarded, less any shares withheld to satisfy mandatory tax withholding
requirements. The shares of Company common stock will be issued with Transfer
Restrictions (as described below).

      

      Voting
Rights

      During the period
between the Grant Date and the Vesting Date (the “Vesting Period”), you are not
entitled to voting rights with respect to the RSUs.  When shares of
Company common stock are issued upon vesting of the RSUs, you then will have
full voting rights with respect to the shares issued.

      

      Dividends and Other
Distributions

      During the Vesting
Period, you will not receive dividends or any other distributions (e.g., dividend equivalents)
with respect to the RSUs.  When shares of Company common stock are
issued upon vesting of the RSUs, you then will have dividend rights with respect
to the shares issued.

      

      Termination of
Employment

      Termination of
employment with the Company will impact the RSU Award as follows:

      

      
        	
                 
      

              	
                ·

              	
                Disability or
      Death: If your employment
      terminates on, or prior to, October 31, 2010, by reason of disability or
      death, the RSUs will become fully vested and shares of Company common
      stock, without Transfer Restrictions, will be issued either to you or your
      designated beneficiary, as applicable. For this purpose, you will be
      considered disabled if you are unable to engage in any substantial gainful
      activity by reason of any medically determinable physical or mental
      impairment that can be expected to result in death or can be expected to
      last for a continuous period of not less than 12
  months.

              

      

      

      
        	
                 
      

              	
                ·

              	
                Other:  If
      your employment with the Company terminates for any reason other than
      disability or death prior to October 31, 2010, all non-vested RSUs will be
      immediately forfeited.

              

      

       
 

      Transfer
Restrictions

      If the RSUs become
fully vested on November 1, 2010, shares of Company common stock will be issued
subject to the following terms and conditions:

      

      
        	
                 
      

              	
                ·

              	
                Transfer
      Restrictions:  The shares may not be assigned,
      transferred, pledged or hypothecated in any way (the “Transfer
      Restrictions”) until three-years after the Grant Date. The Transfer
      Restrictions will expire on the third anniversary of the Grant Date, upon
      a “Change in Control” as defined in the Plan or upon your
      death.

              

      

      

      
        	
                 
      

              	
                ·

              	
                Voting
      Rights:  The shares will have full voting rights from the
      time the RSUs vest and shares of Company common stock are
      issued.

              

      

      

      
        	
                 
      

              	
                ·

              	
                Dividends and Other
      Distributions:  The shares will have full dividend rights
      from the time the RSUs vest and shares of Company common stock are
      issued.

              

      

      

      Transferability of
Award

      After the RSUs vest
and shares of Company common stock are issued and the Transfer Restrictions
expire, you will have the ability to transfer your shares.

      

      The RSU Award is
not subject to execution, attachment or similar process. Any attempt at such,
contrary to the provisions of the Plan, will be null and void and without
effect.

      

      Designation of
Beneficiary

      If you have not
done so already, you are encouraged to designate a beneficiary (or
beneficiaries) to whom your benefits under the Plan will be paid upon your
death. If you do not designate a beneficiary, any benefits payable pursuant to
the Plan upon your death will be paid to your estate.

      

      Administration of the
Plan

      The RSU Award shall
at all times be subject to the terms and provisions of the Plan and the Plan
shall be administered in accordance with the terms of, and as provided in, the
Plan. In the event of conflict between the terms and provisions of this document
and the terms and provisions of the Plan, the provisions of the Plan shall
control.

      

      Tax
Impact

      Please refer to the
Plan Prospectus for a general description of the U.S. federal tax consequences
of an RSU Award. You may also wish to consult with your personal tax advisor
regarding how the RSU Award impacts your individual tax situation.

      

      Compliance with Securities
Laws

      The Company will
take steps required to achieve compliance with all applicable U.S. federal and
state securities laws (and others, including registration requirements) and with
the rules and practices of the stock exchanges upon which the stock of the
Company is listed. Provisions are made within the Plan covering the effect of
stock dividends, stock splits, changes in par value, changes in kind of stock,
sale, merger, recapitalization, reorganization, etc.

      

      Effect on Other
Benefits

      The RSU Award is
not intended to impact the coverage of or the amount of any other employee
benefit plans in which you participate that are sponsored by the Company and any
of its subsidiaries or affiliates.

      

      Further
Information

      For more detailed
information about the Plan, please refer to the Plan prospectus or the Plan
itself. Copies of the prospectus and the Plan can be obtained from the Executive
Compensation intranet Web site at https://hsd.cat.com/executivecompensation. If
you have any questions regarding your equity compensation under the Plan, please
contact Paul Gaeto, Director of Compensation + Benefits at (309)
675-5624.

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