Document:

JULY 27TH,
2010

     

    PROMISE
OF ASSIGNMENT OF THE RIGHTS ON A MINE CONCESSION (HEREINAFTER THE “CONTRACT”)
ENTERED INTO BY AND BETWEEN Mr. JESUS HECTOR PAVLOVICH CAMOU, RAUL ERNESTO SEYM
GUTIERREZ AND NORBERTO GARCIA MIRANDA (HEREINAFTER INDIVIDUALLY REFERRED TO AS
“JESUS”, “RAUL” AND “NORBERTO”, RESPECTIVELY, AND JOINTLY REFERRED TO AS “THE
OWNERS”,

     

    AND

     

    SOCIEDAD
GOLD AMERICAN MINING CORP, ACTING BY AND THROUGH MR. JOHANNES PETERSEN
(HEREINAFTER REFERRED AS “GOLD AMERICAN” UNDER THE FOLLOWING TERMS AND
CONDITIONS:

     

    REPRESENTATION

     

    
      	
              1.

            	
              “JESUS”
      REPRESENTS THE FOLLOWING:

            

    

     

    
      	
              a.

            	
              He
      is a Mexican citizen, born in Hermosillo, Sonora, Mexico, with Federal Tax
      Registration Code PACJ400505EQ6, and with sufficient legal capacity to
      commit to the terms of this agreement, pursuant to the Mining Law and its
      Regulations.

            

    

     

    
      	
              b.

            	
              He
      is married to Mrs. Sylvia Aguiree Armenta under community property system
      of marital property (common
assets).

            

    

     

    
      	
              c.

            	
              He
      is the legitimate joint tenant of up to 34% (thirty-four percent) of the
      mine “CONCESSIONS” located in the Municipio Opodepe, Sonora, listed
      below,  and has ownership right upon them and other rigths
      resulting from his owner condition:

            

    

     

    c.1. “LA
ESCONDIDA” Mine Concession, Title Number 230499, issued on September 10, 2007,
File Number 082/31488, located in the Municipio of Opodepe, Zacatecas,
consisting of 25 hectares and registered under Act No. 159, page 806 of Volume
366 of the Mine Concession Public Register, a copy of which is attached
hereto.

     

    c.2. “LA
ESCONDIDA” Mine Concession, Title number 230512, issued on September 10, 2007,
File Number 082/31488, located in the Municipio of Opodepe, Zacatecas, with 25
ha surface, registered under Act No. 159, Page 806, Volume 366 of the Mine
Concession Public Register, a copy of which is attached hereto.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

      

    
      	
               
      

            	
              From
      now onwards, the “CONCESSIONS” upon the lots described in paragraph c.1
      and c.2 will be jointly referred and identified in this document as “THE
      CONCESSIONS”.

            

    

     

    
      	
              d.

            	
              As
      of the date hereof, THE CONCESSIONS and their rights are currently in
      force and exempted from any lien and duty, or any restriction on the free
      use and disposal by the deponent.

            

    

     

    
      	
              e.

            	
              As
      of the date hereof,   his company has not entered into any
      agreement or legal action regarding the CONCESSIONS other than this legal
      document, for which reason he guaranteees, the existence of legal effect,
      and availability of the referred rights subject matter of this
      contract.

            

    

     

    
      	
              f.

            	
              As
      of the date hereof, the referred CONCESSIONS are in force and currently
      upto date in the payment of charges, duties, taxes, fees and contributions
      and whatsoever duty upon them.

            

    

     

    
      	
              g.

            	
              He
      has the physical and free possession rights upon t he CONCESSIONS
      hereof.

            

    

     

    
      	
              h.

            	
              As
      of the date of execution of this contract, his company has not any other
      mining claim or right upon any mine concession within a 5 km around the
      site of the mine CONCESSIONS subject matter hereof, except the above
      mentioned CONCESSIONS.

            

    

     

    
      	
              i.

            	
              As
      of the date of execution of this agreement, he has obtained the
      corresponding environmental permits to carry out exploration works
      (NOM-120) and mine exploitation activities within the CONCESSIONS, and he
      has complied with all the sanitary,  labor and social security
      measures in accordance with the Official Mexican Rules (NOM’s); in the
      environment subject, to carry out exploration works (NOM-120) and
      exploitation in the CONCESSIONS. These measures are in process and
      registered under the name of the
OWNERS.

            

    

     

    
      	
              j.

            	
              The
      CONCESSIONS have no royalty upon the production obtained by the BUYER
      resulting from the exploitation of the CONCESSIONS, except for the
      provisions of Clause Six hereof, productions or royalties that in the
      mining industry are known as Net Smelter Return
  (NSR).

            

    

     

    II. RAUL
DOES HEREBY MAKE THE FOLLOWING REPRESENTATION:

     

    
      	
              a.

            	
              He
      is a Mexican citizen, born in Magdalena de Kino, Sonora, Mexico, with
      Federal Tax Registration Code SEGR420417JK3, with sufficient legal
      capacity to commit to the terms of this agreement, and pursuant to the
      Mining Law and its Regulations.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              b.

            	
              He
      is married to Mrs. Angelina Hernandez Magana under community property
      system of marital property (common
assets).

            

    

     

    
      	
              c.

            	
              He
      is the legitimate joint tenant of up to 33% (thirty-three percent) of the
      mine “CONCESSIONS” referred above in paragraph c.1. and paragraph c.2 of
      the foregoing Representation I.

            

    

     

    
      	
              d.

            	
              He
      repeats, and claims as his own the foregoing statements and representation
      made by JESUS in regard to the CONCESSIONS mentioned
  above.

            

    

     

    III.
NORBERTO REPRESENTS THE FOLLOWING:

     

    
      	
              a.

            	
              He
      is a Mexican citizen, born in Magdalena de Kino, Sonora, Mexico, with
      Federal Tax Registration Code GAMN440509516, with sufficient legal
      capacity to commit to the terms of this agreement, and pursuant to the
      Mining Law and its Regulations.

            

    

     

    
      	
              b.

            	
              He
      is married to Mrs. Maria Ines Gutierrez Estrada under community property
      system of marital property (common
assets).

            

    

     

    
      	
              c.

            	
              He
      is the legitimate joint tenant of up to 33% (thirty-three percent) of the
      mine “CONCESSIONS” referred above in paragraph c.1. and paragraph c.2 of
      the foregoing Representation I.

            

    

     

    
      	
              d.

            	
              He
      repeats, and claims as his own the foregoing statements and representation
      made by JESUS in regard to the CONCESSIONS mentioned in Representation I
      hereof.

            

    

     

    
      	
              IV.

            	
              GOLD
      AMERICAN makes the following
representation:

            

    

     

    
      	
              a.

            	
              It
      is an American corporation incorporated pursuant to the regulations of the
      State of Nevada and it has legal capacity to commit to the terms
      hereof.

            

    

     

    
      	
              b.

            	
              Mr.
      Johannes Petersen is the legal representative of the Company and has the
      legal faculties to enter into this
contract.

            

    

     

    
      	
              c.

            	
              The
      Company agrees to execute this contract under the terms hereunder and
      based upon the statements made by the OWNERS in regard to the
      CONCESSIONS.

            

    

     

    
      	
              d.

            	
              The
      Company is aware that pursuant to the provisions of Articles 2 and 10 of
      the Mining Law and any related regulations, GOLD AMERICAN has at this
      moment no legitimate rights or legal capacity to purchase, directly from
      the OWNERS, the mining title upon any mine concession, for which reason
      this promissory agreement is executed under the terms stipulated in this
      legal document to fully comply with the mining legal act and regulations,
      as well as any other mandatory Mexican
  regulations.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    V. THE
PARTIES MAKE THE FOLLOWING REPRESENTATION:

     

    
      	
              a.

            	
              They
      know the individuals and corporation that execute this
      agreement.

            

    

     

    
      	
              b.

            	
              THE
      PARTIES expressly agree that even if the Public Register of Mining or any
      mining authority would refuse to register this agreement because o f the
      terms herein, this shall not be a reason to consider that is null, invalid
      or non-existing, since the rights and obligations hereunder will continue
      in force because the purpose of this legal instrument is that a Mexican
      corporation or Mexican individual or by default a foreign corporation duly
      authorized shall finally become the mine CONCESSSION owner of the subject
      matter hereof.

            

    

     

    
      	
              c.

            	
              The
      PARTIES declare that they physically know the CONCESSION subject matter of
      this contract.

            

    

     

    
      	
              d.

            	
              The
      PARTIES declare that they act by their own free will and that there is no
      error, fraud, bad faith or injury.

            

    

     

    THEREFORE,
The PARTIES agree to consent to the terms hereunder:

     

    CLAUSES

     

    ONE: THE OWNERS agree and
promise to onerously assign, pursuant to the terms of this contract and in favor
of  a Mexican indvidual or Mexican corporation designated by GOLD
AMERICAN, the 100% (hundred percent) of the co-rights of ownership, and each
one’s aliquot , stipulated in point I.c of this contract, and those resulting
from the CONCESSIONS of the lots LA ESCONDIDA.

     

    As of
now, the word BUYER represents the “Mexican individual or corporation”
designated by  GOLD AMERICAN.

     

    As a
result of the execution of this agreement, the BUYER shall subrogate (assume)
all the rights and obligations that the Mining Law and its regulations estabish,
as well as the Environment Protection and Ecological Impact Act, its regulations
and other applicable provisions.

     

    A copy of
the Concession Titles are incoported as  part of this contract and
designated as Schedule 1 and 2, which are duly signed by the
PARTIES.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    TWO: GOLD AMERICAN consents on
behalf of the BUYER who would eventually be designated by it and reported to the
OWNERS, to pay for the purchase of exploration and exploitation, and property
rights (domain) referred in the foregoing clause and the OWNERS agree to receive
as payment the sum of US$765,000 (Seven Hundred Sixty Five and
00/100  US Dollars),  subject to the terms and conditions
below:

     

    
      	
               
      

            	
              1.

            	
              The
      BUYER shall have the right of way or easement of access to the mine
      CONCESSIONS mentioned in this
contract.

            

    

     

    
      	
               
      

            	
              2.

            	
              The
      OWNERS had provided GOLD AMERICAN or the BUYER all the technical
      information, reports and geological background informations regarding the
      perforation and/or exploitation works carried out in the
      CONCESSIONS.

            

    

     

    
      	
               
      

            	
              a.

            	
              The
      sum of US$40,000 (Forty Thousand US Dollars) 6 (six) months as from the
      date of execution of this agreement, that is July 20th,
      2010, payment which shall be made by wire transfer according to the
      indicated wire instructions.

            

    

     

    
      	
               
      

            	
              b.

            	
              The
      sum of US$50,000 (Fifty Thousand US Dollars) 12 (twelve) months upon the
      execution of this agreeement, that is on December 23, 2010, also paid by
      wire transfer following the specified wire
  instructions.

            

    

      

      	
               
      

            	
              c.

            	
              The
      sum of US$50,000 (Fifty Thousand US Dollars), 18 (eighteeen) months upon
      the execution of this agreement, that is on June 23, 2011, paid by wire
      transfer following the indicated wire
  instructions.

            

    

     

    
      	
               
      

            	
              d.

            	
              The
      sum of US$50,000 (Fifty Thousand US Dollars), upon 24 (twenty-four) months
      from the execution of this contract, that is on December 23, 2011, and
      paid by wire transfer following the specified wire
      instructions.

            

    

     

    
      	
               
      

            	
              e.

            	
              The
      sum of US$175,000 (One Hundred Seventy-Five Thousand and 00/100 US
      Dollars), upon 30 (thirty-four) months, as from the execution of this
      contract, that is June 23, 2012, payment made by wire transfer according
      to the specified wire instructions.

            

    

     

    
      	
               
      

            	
              f.

            	
              The
      sum of US$400,000 (Four Hundred Thousand and 00/100 US Dollars) on the 36
      (thirty-six) month counted as from the date of execution of this
      agreement, that is on December 23, 2012, payment that shall be made by
      wire transfer as per specified wire
  instructions.

            

    

     

    THREE: The PARTIES agree that
in the event that GOLD AMERICAN or the BUYER would not get the authorization
from the owner or owners of the adjacent properties that surround the
CONCESSIONS, the OWNERS together with GOLD AMERICAN or the BUYER shall assist
each other to pursue the necessary legal proceedings to obtain the access or
easement of access, including the temporary expropriation of the surrounding
lots, pursuant to the Mine Law, if necessary.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    FOUR: GOLD AMERICAN agrees to
pay on behalf of the BUYER as from the first semester of year 2010, the
semestral mining rights and/or taxes concerning the CONCESSIONS.

     

    FIVE: The OWNERS expressly
agree that GOLD AMERICAN or the BUYER, as chosen, may pay the total price
specified in the foregoing second clause without requiring the express or tacit
(unspoken) consent of the OWNERS to fully and completely buy the property and
possesion rights of the CONCESSSIONS subject matter hereof.

     

    SIX: The PARTIES expressly
agree that the OWNERS shall receive from GOLD AMERICAN or the BUYER on the
account of royalties, a percentage equal to 1% (one percent) of the production
obtained by the BUYER as a result of the exploitation activities executed within
the CONCESSIONS and that are known in the mining industry as “Net Smelter
Return” (NSR).

     

    SEVEN: The PARTIES expressly
agree that GOLD AMERICAN or the BUYER, at its discretion, may pay the OWNERS at
any time and without requering their express or unspoken prior consent, the sum
of US$500,000 (Five Hundred Thousand and 00/100 US Dollars) on the account of
full payment of royalties and/or productions rights (NSR) referred in the
foregoing paragraph.

     

    The
PARTIES expressly agree that the concept and amount identified in this clause is
independent of the purchase price of the referred mine concession rights
corresponding to the CONCESSIONS mentioned in Clauses One and Two of this
contract, reason for which the way in which this concept (meaning royalties) is
paid or liquidated shall not be considered as an impediment or obstacle to GOLD
AMERICAN to buy on the account of BUYER the title and possession or ownership
rights on  the CONCESSIONS, prior payment of the sum stipulated in the
foregoing Clause 2.

     

    EIGHT: The OWNERS agree and
commit themselves to give the BUYERS upon request, the physical and peaceful
possession of the CONCESSIONS subject matter hereof, as indicated in point I.g
of the recitals or representation of this legal instrument.

     

    NINE:  The OWNERS
agree and commit to grant GOLD AMERICAN or the BUYER, within a term of 15
calendar days as from the execution of this contract, the reports on geological
results that they would have, as well as the “regular work” reports that they
would have made or would be making in regard to the CONCESSIONS, as well as the
report or information of any nature that they would posses as a result of the
exploitation works that they would have carried out or would be carrying out at
present in the mine CONCESSIONS.

     

    TEN: The
PARTIES expressly agree that the following may cause the termination of this
contract:

     

    
      	
               
      

            	
              a.

            	
              If
      GOLD AMERICAN or the BUYER would not make any of the
      payments.  In this case, GOLD AMERICAN or the BUYER will have a
      grace period of 30 calendar (natural) days to comply with
      payment.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              b.

            	
              If
      GOLD AMERICAN or the BUYER would stop paying two or more consecutive
      payments this contract will be
rescinded.

            

    

     

    
      	
               
      

            	
              c.

            	
              If
      the OWNERS would fail to comply with any of the obligations stipulated
      herein, and as a result of this, GOLD AMERICAN or the BUYER would be
      affected, a conventional penalty equal to
      the  corresponding  payment shown in the payment
      schedule of this contract shall apply, and GOLD AMERICAN or the BUYER may
      have the option to rescind this contract or claim the reimbursement of the
      payments previously made or discount the payment or payments corresponding
      to the price or balance of the pending price
  payments.

            

    

     

    ELEVEN: If GOLD AMERICAN or
the BUYER would not make any of the stipulated payments, and once the grace
period has expired, if GOLD AMERICAN or the BUYER would have not made the
respective payment, this contract will be automatically terminated and will have
no legal effect against  the PARTIES,  therefore, the OWNERS
shall withhold or keep for themselves the sums of money that GOLD AMERICAN would
have previously paid to them.

     

    TWELVE: The PARTIES agree to
appear before a county clerk (notary) to jointly ratify or confirm this legal
instrument to the effects of the provisions of Article 23 of the Mining Law, and
agree to demand indistinctively the registration of this contract in the Public
Mining Register pursuant to the terms of the applicable legal regulations so
that it would have legal effects against third parties.

     

    THIRTEEN: The PARTIES
expressly agree that GOLD AMERICAN may assign without needing the prior consent
of the OWNERS, the rights of this legal instrument for which purpose it would
only be required to notify  the OWNERS who the new title holder will
be.

     

    FOURTEEN: The PARTIES agree
that once the contract is signed and ratified before a pubic notary or county
clerk, any party  may indistinctively register or request the
registration of it in the Public Mining Register so that it would have legal
effects before third parties.

     

    FIFTEEN: THE OWNERS based on
their representations in point I.h of this contract, agree and commit, in favor
of GOLD AMERICAN or the BUYER, not to hold or retain or buy the property of any
concession other than the CONCESSIONS subject matter hereof, that would be
within a 5 km area around each property (concession), in order to not enter into
any interest conflict or unfair competition with GOLD AMERICAN or the
BUYER.  In the event that they would not comply with this, they will
pay GOLD AMERICAN or the BUYER for damages and losseses resulting
therefrom.

     

    To the
effects of this contract and by virtue of the development of the mining project
pursued by GOLD AMERICAN on the account of the BUYER according to the execution
of this contract and the purchase of the CONCESSIONS, a conventional damage
shall be understood as the cost or price that one or both CONCESSIONS would have
not declared or that would be acquired by the OWNERS in contravention of this
clause; and as conventional  injury or loss the potential yearly based
production that this/these concession(s) would have at the time of payment and
it shall accumulate until the respective payment on this account is
made.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    SIXTEEN: To the effects of the
provisions hereof, the PARTIES designate the following addresses as their
conventional office address:

     

    THE OWNERS:

     

    Hector: Cerrada del Ruiseñor 302
Residencial Los Lago, Hermosillo, Sonora

     

    Raul: Blvd. Luis Donaldo Colosio 308
Col San Martin, Magdalena de Kino, Sonora

     

    Norberto: Av. Ruiz Corines 200 Col San
Martin, Magdalena de Kino, Sonora

     

    GOLD AMERICAN:

     

    10775 Double R. Boulevard

     

    Reno, NV 89521, USA

     

    Tel: 775.682.4313

     

    Fax: 775.996.8200

      

    SEVENTEEN: THE PARTIES agree
that any disagreement arising hereto will definitively be settled pursuant to
the Arbitration Rules of theArbitration Center of Mexico, by a single arbitrator
in accordance with this center rules.

     

    EIGHTEEN: THE PARTIES do
hereby agree that the BUYER will have the option to rescind this contrat at any
time during the term of this agreement by sending a simple notice to the OWNERS
with at least 15 days in advance.  As of the date of termination of
this agrement, the BUYER shall have no further payment obligation as referred in
the Second clause hereof.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF the parties hereto being in agreement with the legal contents
and scope of this contract have hereunto set their hands, this 27th day of
July, 2010.

      

      
        
          
            
              	
                      JESUS
      HECTOR PAVLOVICH CAMOU

                    	
                      RAUL
      ERNESTO SEYM GUTIERREZ

                    
	 	 
	
                      “JESUS”

                    	
                      “RAUL”

                    
	 
      	 
      
	
                      NORBERTO
      GARCIA MIRANDA

                    	
                      GOLD
      AMERICAN MINING CORP

                    
	 	 
	
                      “NORBERTO”

                    	
                      “GOLD
      AMERICAN”

                    
	 	 
	 
      	
                      Mr.
      JOHANNES PETERSEN

                    
	 	 
	 
      	
                      LEGAL
      REPRESENTATIVE

                    

            

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    SCHEDULE  A

     

    Mine
Claim, Title Number 230499, granted on September 10, 2007, File Number
082/31488, located in the Municipio of Opodepe, Zacatecas, with a 25 hectares
surface and registered under Act  No. 159, on page 806 of Volume No.
366 of the Book of Mine Concessions of the Public Mine Register.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    SCHEDULE
B

     

    Mine
Claim, Title Number 230512,, granted on September 10, 2007, File Number
082/31488, located in the Municipio of Opodepe, Zacatecas, with a 25 hectares
surface and registered under Act  No. 159, on page 806 of Volume No.
366 of the Book of Mine Concessions of the Public Mine Register.Unassociated Document

    AMENDED
AND RESTATED

    EMPLOYMENT
AGREEMENT

     

    THIS AMENDED AND RESTATED EMPLOYMENT
AGREEMENT (“Agreement”) is made
and entered into as of the 20th day of
December, 2010 and effective as of the 1st day of
January, 2011 (the “Effective Date”), by
and between Epoch Holding Corporation (the “Company”) and William
W. Priest (“Executive”). Where
the context permits, references to the “Employer” shall
include the Company and any successor entities thereto. Capitalized terms used
and not otherwise defined herein shall have the meanings set forth in Section 9
herein.

     

    WITNESSETH:

     

    WHEREAS,
Executive has been a founder and key contributor to the business of the Company
and has served as the Chief Executive Officer since June 18, 2004;

     

    WHEREAS,
Executive and the Company are parties to an Employment Agreement dated as of
November 28, 2007 (the “Existing
Agreement”);

     

    WHEREAS,
the Company desires to continue to retain the services of Executive from and
after the date hereof and to amend and restate the Existing Agreement as set
forth herein; and

     

    WHEREAS,
Executive desires to continue to provide such services subject to the terms and
conditions set forth herein;

     

    NOW,
THEREFORE, in consideration of the mutual promises, covenants and agreements
herein contained, together with other good and valuable consideration the
receipt of which is hereby acknowledged, the parties hereto do hereby agree as
follows:

     

    1.           SERVICES AND
DUTIES. 
From and after the Effective Date through the Initial Term and
any Renewal Term each as defined in Section 2 (collectively the “Employment Period”),
Executive shall be employed by the Company in the capacity of its Chief
Executive Officer, and shall serve as a Director of the Board of Directors of
the Company (the “Board”). The
principal location of Executive’s employment with Employer shall be such present
location at which Employer maintains its principal location, although Executive
understands and agrees that Executive may also be required to travel for
business reasons. Executive shall devote his full business time to overseeing
the strategic and business affairs of the Company. Executive will perform such
duties as are required by Employer from time to time and normally associated
with Executive’s position, together with such additional duties, commensurate
with Executive’s positions with Employer and with its Affiliates, as may be
assigned to Executive from time to time by the Board consistent with the terms
of this Agreement. Executive shall follow and comply with all policies and
procedures and compliance manuals adopted by or in respect of Employer and its
Affiliates, as may be applicable to Executive. Notwithstanding the foregoing,
and other than with respect to board and/or outside positions held as of the
date hereof, nothing herein shall prohibit Executive from (i) subject to prior
approval of the Board, accepting directorships unrelated to Employer that do not
give rise to any conflict of interests with Employer or its Affiliates and (ii)
engaging in charitable and civic activities, so long as such outside interests
do not materially interfere with the performance of Executive’s duties
hereunder.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2.           TERM. 
Executive’s employment under the terms and conditions of this Agreement will
commence on the Effective Date. The term of this Agreement shall commence on the
Effective Date and end on December 31, 2012 or immediately following such
earlier time that Executive’s employment terminates under Section 5 (such
period, the “Initial
Term”); provided, however, on December 31, 2012 and on each second
anniversary thereafter, the Employment Period shall automatically be extended
for two (2) additional years (each, a “Renewal Term”) unless
either party gives written notice to the other party not to extend this
Agreement at least forty-five (45) days prior to the end of the Employment
Period (in which event this Agreement shall terminate effective as of the close
of such Term or Renewal Term, as the case may be).

     

    3.           COMPENSATION.

     

    (a)           Base Salary.  In
consideration of Executive’s full and faithful satisfaction of Executive’s
duties under this Agreement, Employer agrees to pay to Executive a minimum base
salary in the amount of $375,000 per annum (the “Base Salary”),
payable in such installments as Employer pays its similarly placed employees
(but not less frequently than each calendar month), subject to usual and
customary deductions for withholding taxes and similar charges, and customary
employee contributions to the health, welfare and retirement programs in which
Executive is enrolled from time to time. The Base Salary shall be reviewed on an
annual basis by the Compensation Committee of the Board and adjusted at the sole
discretion of the Compensation Committee of the Board; provided, however, in no
event shall the Base Salary be reduced without Executive’s written
approval.

     

    (b)           Annual Bonus
Incentive.  Executive shall be eligible for an annual bonus
incentive (the “Annual
Bonus Incentive” or “Bonus”) as determined
by the Compensation Committee of the Board, from time to time, in accordance
with Employer’s incentive compensation plan then in effect for each calendar
year or portion thereof during the Employment Period, provided that Executive
remains employed by Employer during such period. Any Bonus earned by Executive
for any calendar year shall be paid in the manner set forth by the Compensation
Committee of the Board, provided such payment shall be made no later than
sixty-five (65) days following the conclusion of the calendar year to which such
Bonus relates. Payment of the Bonus for each calendar year shall in all
circumstances be contingent upon a certification of the Board that the
determination, calculation and payment of the Bonus is correct. The criteria for
determining the Annual Incentive Bonus shall be reviewed on an annual basis by
the Compensation Committee of the Board and adjusted at the discretion of the
Compensation Committee of the Board; provided, however, in no event shall the
criteria for determining the Annual Incentive Bonus be less favorable than the
criteria utilized for any other senior executive officer of the Company without
the approval of at least a two-thirds majority of the Board.

     

    (c)           Equity Awards. 
Executive shall be eligible for restricted stock awards or other equity based
compensation as determined by the Compensation Committee of the Board, from time
to time, in accordance with Employer’s incentive compensation plan then in
effect for each calendar year or portion thereof during the Employment
Period.

    
      
         

      

      
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    (d)           Withholding. 
All taxable compensation payable to Executive pursuant to this Section 3 or
otherwise pursuant to this Agreement shall be subject to all applicable and
customary withholding taxes and such other excise or employment taxes as are
required under Federal law or the applicable law of any state or governmental
body to be collected with respect to compensation paid by Employer to an
employee.

     

    (e)           Discretionary Retirement
Award.  Should Executive elect to retire during the Employment
Period, the Board may consider awarding to him a retirement bonus based on his
performance during the Employment Period and such other factors relating to the
business and operations of the Company as the Board may deem
relevant.

     

    4.           BENEFITS AND EXPENSE
REIMBURSEMENT.

     

    (a)           Retirement and Welfare
Benefits.  During the Employment Period, Executive will be entitled
to participate in the usual and customary employee benefit plans and programs
offered to employees at Executive’s level by Employer or its Affiliates,
including sick time, vacation or paid time off, and participation in Employer’s
or Affiliates’ medical, dental and insurance programs, as well as the ability to
participate in Employer’s or Affiliates’ 401(k) retirement savings plan, in each
case in accordance with and subject to the terms of such plans as in effect from
time to time. Nothing in this Section 4, however, shall require Employer or its
Affiliates, if applicable, to adopt or maintain any benefit plan or provide any
type or level of benefits to its employees, including Executive. The Company
shall continue to maintain those life insurance policies now in place with
respect to which Executive is the named insured and to pay the premiums
associated with such policies; provided, however, in no event shall Employer be
required to maintain such policies if the premiums associated with such policies
during any calendar year during the Employment Period increases, in the
aggregate, more than twenty-five percent (25%) (the “Premium Threshold”)
for such coverage period; provided, further, however, that Executive shall have
the option to reimburse the Company for any premiums in excess of the Premium
Threshold, in which case the Company shall continue to maintain such policies
during the applicable Employment Period.

     

    (b)           Reimbursement of
Expenses.  Employer shall reimburse Executive for any expenses
reasonably and necessarily incurred by Executive in furtherance of Executive’s
duties hereunder, including travel, meals and accommodations, upon submission by
Executive of vouchers or receipts and in compliance with such rules and policies
relating thereto as Employer may from time to time adopt.

     

    5.           TERMINATION. 
Executive’s employment shall be terminated at the earliest to occur of
the following: (i) at the end of the Employment Period unless Executive agrees
to continue working for Employer on mutually agreeable terms, (ii) the date on
which the Board delivers written notice that Executive is being terminated for
Disability (as defined below), or (iii) the date of Executive’s death. In
addition, Executive’s employment with Employer may be terminated: (A) by
Employer for “Cause” (as defined
below), effective on the date on which a written notice to such effect is
delivered to Executive; (B) by Employer at any time without Cause, effective on
the date on which a written notice to such effect is delivered to Executive or
such other date as is reasonably designated by Employer; or (C) by Executive
with “Good
Reason” (as defined below).

    
      
         

      

      
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    (a)           Termination by Employer with
Cause.  If Executive’s employment with Employer is terminated by
Employer with Cause, Executive shall not be entitled to any further compensation
or benefits other than accrued but unpaid Base Salary (payable as provided in
Section 3(a) hereof), any accrued and unused vacation pay through the date of
such termination (collectively, the “Accrued Benefits”)
and any Unpaid Bonus (as defined below).

    

    (b)           Termination by Employer
without Cause or by Executive with Good Reason.  If Executive’s
employment is terminated by Employer without Cause or by Executive with Good
Reason prior to the end of the Employment Period, then Executive shall be
entitled to: (i) the Accrued Benefits and any earned and unpaid portion of an
Annual Bonus Incentive for the calendar year prior to the calendar year of
termination (the “Unpaid Bonus”); (ii)
a lump sum separation payment equal to one (1) times the annual Base Salary plus
one (1) times the Average Bonus (as defined below); and (iii) the Annual Bonus
Incentive determined for the full calendar year based solely upon the operations
and investment performance of the Company for the twelve (12) month period
through and including the end of the calendar quarter in which Executive’s
employment is terminated hereunder multiplied by a fraction, the numerator of
which is the number of months (including the month of termination) during the
then current calendar year that Executive was employed under this Agreement and
the denominator of which is twelve (12) (the “Pro-Rata Annual Bonus
Incentive”).  “Average Bonus” means
the three-calendar year average (or such lesser period during the Employment
Period, if applicable) of the Annual Bonus Incentive.

     

    (c)           Voluntary Resignation, Death
or Disability.  If Executive’s employment is terminated voluntarily
by Executive or by reason of Executive’s death or Disability prior to the end of
the Employment Period, in lieu of any other payments or benefits, Executive (or
Executive’s estate, as applicable) shall be entitled to (i) the Accrued Benefits
and any Unpaid Bonus; (ii) a lump sum payment equal to the remaining Base Salary
payable through the end of the calendar year of termination (assuming
Executive’s employment had continued through such date); and (iii) the Pro-Rata
Annual Bonus Incentive, but which shall be determined based upon an
interpolation of full calendar year results for the calendar year of termination
based solely upon the operations and investment performance of the Company for
the twelve (12) month period through and including the end of the calendar
quarter in which Executive’s employment is terminated hereunder.

     

    (d)           Termination in Connection
with a Change in Control.  If Executive’s employment is terminated
by Employer without Cause or by Executive with Good Reason, in each case within
the twelve-month period following the occurrence of a Change in Control, then in
lieu of any other payments set forth in this Section 5, Executive shall be
entitled to: (i) the Accrued Benefits and any Unpaid Bonus; (ii) a lump sum
separation payment equal to two (2) times the annual Base Salary plus two (2)
times the Average Bonus; and (iii) a pro-rata Annual Bonus Incentive for the
calendar year of termination.

    
      
         

      

      
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    (e)           Resignation as Officer or
Director.  Upon the termination of employment for any reason,
Executive shall resign each position (if any) that Executive then holds as an
officer or director of Employer or any of its Subsidiaries or
Affiliates.

     

    (f)           Release and
Payment.  All payments to Executive provided for in this Section 5
shall be conditioned upon Executive’s (or Executive’s estate, as applicable)
providing Employer with a signed release limited in scope to employment related
claims in a form acceptable to the Board, and such release becoming irrevocable
within forty-five (45) days after termination of Executive’s employment. 
All such payments provided for in this Section 5 shall be made to Executive in
cash within sixty (60) days of his death or other termination of employment;
provided, however, that  if such sixty (60) day period begins in
one  calendar year and ends in another calendar year, payment should
not be made until the beginning of the calendar year in which the sixty (60) day
period ends.

     

    6.           RESTRICTIVE
COVENANTS.

     

    (a)           The
parties agree that the restrictive covenants set forth in Exhibit A hereto (the
“Restrictive
Covenants”) are incorporated herein by reference and shall be deemed to
be contained herein. Executive understands, acknowledges and agrees that the
Restrictive Covenants apply (i) during his employment under this Agreement and
during any period of employment by Employer or any controlled Affiliate
following the termination of this Agreement or the expiration of the Term or any
Renewal Term of this Agreement, and (ii), as provided in Exhibit A hereto,
during the Non-Compete Period or any additional periods specified following
termination of his employment with Employer and by any controlled Affiliate
which may have employed him.

     

    (b)           Executive
hereby acknowledges that the provisions of Exhibit A hereto are
reasonable and necessary for the protection of Employer and its Affiliates (the
“Other
Parties”) and are not unduly burdensome to Executive and that Executive
acknowledges such obligations under such covenants. Executive further
acknowledges that the Other Parties will be irreparably harmed if such covenants
are not specifically enforced. Accordingly, Executive agrees that, in addition
to any other relief to which the Other Parties may be entitled, including claims
for damages, the Other Parties shall be entitled to seek and obtain injunctive
relief (without the requirement of any bond) from a court of competent
jurisdiction for the purpose of restraining Executive from an actual or
threatened breach of such covenants.

     

    (c)           Notwithstanding
anything to the contrary contained herein, nothing in this Agreement shall be
construed or otherwise interpreted to limit or otherwise supersede any of the
terms and conditions set forth in the Stockholders Agreement, including without
limitation the restrictions set forth therein with respect to “Harmful Activity”(as
such term is defined in the Stockholders Agreement).

    
      
         

      

      
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    7.           ASSIGNMENT. 
This Agreement, and all of the terms and conditions hereof, shall bind Employer
and its successors and assigns and shall bind Executive and Executive’s heirs,
executors and administrators. No transfer or assignment of this Agreement shall
release Employer from any obligation to Executive hereunder. Neither this
Agreement, nor any of Employer’s rights or obligations hereunder, may be
assigned or are otherwise subject to hypothecation by Executive. Employer may
assign the rights and obligations of Employer hereunder, in whole or in part, to
any of Employer’s Subsidiaries or Affiliates, or to any other successor or
assign in connection with the sale of all or substantially all of Employer’s
assets or equity or in connection with any merger, acquisition and/or
reorganization, provided the assignee assumes, in an assumption agreement in
form reasonably satisfactory to Executive, the obligations of Employer
hereunder.

     

    8.           REPRESENTATIONS AND
WARRANTIES.

     

    (a)           Executive
hereby represents and warrants to the Company that Executive is not subject to
any restriction whatsoever which would cause him to not be able fully to fulfill
his duties under this Agreement.

     

    (b)           The
Company hereby represents and warrants to Executive that it has the due
authorization and capacity to execute, deliver and satisfy its obligations to
Executive under this Agreement, that all consents have been secured in
connection with the execution, delivery and performance of this Agreement and
that the execution, delivery and performance of this Agreement has been fully
authorized and does not and shall not contravene or breach any instrument,
agreement or document to which the Company or any Affiliate is a
party.

     

    9.           DEFINITIONS. As used
in this Agreement, the following defined terms have the meanings indicated
below:

     

    (a)           “Affiliate” or “Affiliates” means
with respect to any specified Person, any other Person that, directly or
indirectly, owns or controls, is under common ownership or control with, or is
owned or controlled by, such specified Person;

     

    (b)           “Cause”
means:

     

    (i)           the
willful engaging by Executive in illegal, fraudulent or unethical conduct or
gross misconduct which, in each case, is materially and demonstrably injurious
(x) to Employer or its Subsidiaries or Affiliates, (y) to the reputation of
Executive, Employer or its Subsidiaries or Affiliates, or (z) to any of the
Employer’s products or businesses; or

     

    (ii)   
      conviction of a felony or guilty or nolo contendere plea by
Executive with respect thereto; or

     

    (iii)         a
material breach by Executive of this Agreement (x) if such breach is curable (in
the reasonable judgment of the Board) and is not cured within ten (10) business
days following receipt of a notice of such breach or (y) if such breach is not
curable (in the reasonable judgment of the Board); provided that Employer shall
be required to provide notice under this sentence only one time during any
calendar year in connection with any single category of events constituting
Cause hereunder.

    
      
         

      

      
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    For
purposes of this definition, no act or failure to act on the part of Executive
shall be considered “willful” unless it is
done, or omitted to be done, by Executive in bad faith or without reasonable
belief that Executive’s action or omission was in the best interests of Employer
(or its Affiliates, if applicable) or was done or omitted to be done with
reckless disregard to the consequences. Any act, or failure to act, based upon
authority given pursuant to a resolution duly adopted by a vote of at least
seventy-five percent (75%) of the Board or based upon the advice of counsel for
Employer shall be conclusively presumed to be done, or omitted to be done, by
Executive in good faith and in the best interests of Employer. Cause shall not
exist hereunder unless and until Employer has delivered to Executive, along with
a notice of termination for Cause, a copy of a resolution duly adopted by the
Board (excluding Executive if Executive is a member of the Board) at a meeting
thereof called and held for such purpose (after reasonable notice to Executive
and an opportunity for Executive, together with counsel, to be heard before the
Board), finding that in the good faith opinion of the Board an event set forth
in clauses (i) through (iii) has occurred and specifying the particulars thereof
in detail.

     

    (c)           “Change in Control”
means an event described in Section 409A(a)(2)(A)(v) of the Code, and
regulations promulgated thereunder.

     

    (d)           “Code” means the
Internal Revenue Code of 1986, as amended.

     

    (e)           “Disability” means, as
determined by the Board in good faith, Executive’s inability, due to disability
or incapacity, to perform all of Executive’s duties hereunder on a full-time
basis for (i) periods aggregating one-hundred-eighty (180) days, whether or not
continuous, during any continuous period of three-hundred-and-sixty-five (365)
days or, (ii) where Executive’s absence is adversely affecting the performance
of Employer in a significant manner, periods greater than ninety (90) days,
whether or not continuous, and Executive is unable to resume Executive’s duties
on a full time basis within ten (10) days of receipt of written notice of the
Board’s determination under this clause (ii).

     

    (f)           “Good Reason” means
the occurrence of one of the following:

     

    (i)           a
material diminution or other material adverse change in Executive’s office,
duties, salary, benefits or responsibilities made without Executive’s prior
written consent;

     

    (ii)  
       a material breach by the Employer of
this Agreement; or

     

    (iii)         a
requirement by the Employer that Executive’s principal place of work be moved to
a location more than fifty (50) miles away from its then current
location.

     

    Good
Reason shall not exist hereunder unless Executive first provides sixty (60)
days’ prior written notice to the Board which notice alleges the occurrence of
one of the aforementioned events in specific detail. Notwithstanding the
foregoing, however, Executive shall not have the ability to terminate this
Agreement if the facts alleged in such written notice have been cured prior to
the expiration of such sixty (60) day notice period.

     

    (g)           “Non-Compete Period”
means:

     

    (h)           in
all cases, the period consisting of the Initial Term and any Renewal Term then
in effect; and

    
      
         

      

      
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    (i)           in
the event of a termination of employment with Cause or by the Executive without
Good Reason, the Non-Compete Period will be extended for an additional period
consisting of the twelve (12) month period after the termination of Executive’s
employment; and

     

    (ii)          in
the event of a termination of employment because of death or Disability, or in
the event of a termination by Executive with Good Reason or by Employer without
Cause (including in connection with the occurrence of a Change in Control), the
period consisting of the Initial Term or Renewal Term then in effect (after
giving effect to such termination).

     

    (i)  
         “Person” means any
natural person, corporation, limited liability company, general partnership,
limited partnership, proprietorship, other business organization, trust, union,
association or governmental entity.

     

    (j)  
         “Stockholders Agreement
“ means that certain Stockholders Agreement dated June 2, 2004, by and
among the Company, Executive and the other signatories thereto, as the same may
be amended from time to time.

     

    (k)           “Subsidiary” means a
subsidiary of Employer (or other referenced entity, as the case may be) as
defined in Rule 405 of Regulation C of the Securities Act of 1933, as
amended.

     

    10.         COMPLIANCE WITH SECTION
409A.

     

    (a)           General.  It is
the intention of both the Company and Executive that the benefits and rights to
which Executive could be entitled pursuant to this Agreement comply with Section
409A of the Code and the Treasury Regulations and other guidance promulgated or
issued thereunder (“Section 409A”), to the extent that the requirements of
Section 409A are applicable thereto, and the provisions of this Agreement shall
be construed in a manner consistent with that intention.  If Executive or
the Company believes, at any time, that any such benefit or right that is
subject to Section 409A does not so comply, it shall promptly advise the other
and shall negotiate reasonably and in good faith to amend the terms of such
benefits and rights such that they comply with Section 409A (with the most
limited possible economic effect on Executive and on the Company). 
Notwithstanding the foregoing, the Company does not make any representation to
Executive that the payments or benefits provided under this Agreement are exempt
from, or satisfy, the requirements of Section 409A, and the Company shall have
no liability or other obligation to indemnify or hold harmless Executive or any
beneficiary of Executive for any tax, additional tax, interest or penalties that
Executive or any beneficiary of Executive may incur in the event that any
provision of this Agreement, or any amendment or modification thereof, or any
other action taken with respect thereto, is deemed to violate any of the
requirements of Section 409A.

     

    (b)           Distributions on Account of
Separation from Service.  If and to the extent required to comply
with Section 409A, no payment or benefit required to be paid under this
Agreement on account of termination of Executive’s employment shall be made
unless and until Executive incurs a “separation from service” within the meaning
of Section 409A.

    
      
         

      

      
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    (c)           Six-Month Delay for Specified
Employees.

     

    (i)           If
Executive is a “specified employee”, then no payment or benefit that is payable
on account of Executive’s “separation from service”, as that term is defined for
purposes of Section 409A, shall be made before the date that is six months after
Executive’s “separation from service” (or, if earlier, the date of Executive’s
death) if and to the extent that such payment or benefit constitutes deferred
compensation (or may be nonqualified deferred compensation) under Section 409A
and such deferral is required to comply with the requirements of Section
409A.  Any payment or benefit delayed by reason of the prior sentence shall
be paid out or provided in a single lump sum at the end of such required delay
period in order to catch up to the original payment schedule.

     

    (ii)          For
purposes of this provision, Executive shall be considered to be a “specified
employee” if, at the time of his separation from service, Executive is a “key
employee”, within the meaning of Section 416(i) of the Code, of the Company (or
any Person with whom the Company would be considered a single employer under
Section 414(b) or Section 414(c) of the Code) or if any of its stock is publicly
traded on an established securities market or otherwise.

     

    (d)           No Acceleration of
Payments.  Neither the Company nor Executive, individually or in
combination, may accelerate any payment or benefit that is subject to Section
409A, except in compliance with Section 409A and the provisions of this
Agreement, and no amount that is subject to Section 409A shall be paid prior to
the earliest date on which it may be paid without violating Section
409A.

     

    (e)           Treatment of Each
Installment as a Separate Payment and Timing of Payments. For purposes of
applying the provisions of Section 409A to this Agreement, each separately
identified amount to which Executive is entitled under this Agreement shall be
treated as a separate payment.  In addition, to the extent permissible
under Section 409A, any series of installment payments under this Agreement
shall be treated as a right to a series of separate payments.  Whenever a
payment under this Agreement specifies a payment period with reference to a
number of days, the actual date of payment within the specified period shall be
within the sole discretion of the Company.

     

    (f)           Taxable Reimbursements and
In-Kind Benefits.

     

    (i)           Any
reimbursements by the Company to Executive of any eligible expenses under this
Agreement that are not excludable from Executive’s income for Federal income tax
purposes (the “Taxable Reimbursements”) shall be made by no later than the
earlier of the date on which they would be paid under the Company’s normal
policies and the last day of the taxable year of Executive following the year in
which the expense was incurred.

     

    (ii)          The
amount of any Taxable Reimbursements, and the value of any in-kind benefits to
be provided to Executive, during any taxable year of Executive shall not affect
the expenses eligible for reimbursement, or in-kind benefits to be provided, in
any other taxable year of Executive (except for any life-term or other aggregate
limitation applicable to medical expenses).

    
      
         

      

      
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    (iii)         The
right to Taxable Reimbursement, or in-kind benefits, shall not be subject to
liquidation or exchange for another benefit.

     

    11.         GENERAL.

     

    (a)           Notices.  Any
notices provided hereunder must be in writing and shall be deemed effective upon
the earlier of one business day following personal delivery (including personal
delivery by telecopy or telex), or the third business day after mailing by first
class mail to the recipient at the address indicated below:

     

    To
Employer:

     

    Epoch
Holding Corporation

    640 Fifth
Avenue

    18th
Floor

    New York,
New York 10019

    Attn:
Chairman, Compensation Committee

     

    Notices
to Executive shall be given at the location set forth in Employer’s records, or
to such other address or to the attention of such other Person as the recipient
party may have specified by prior written notice to the sending
party.

    

    (b)           Severability. 
Any provision of this Agreement which is deemed invalid, illegal or
unenforceable in any jurisdiction shall, as to that jurisdiction and subject to
this Section 11(b), be ineffective to the extent of such invalidity, illegality
or unenforceability, without affecting in any way the remaining provisions
hereof in such jurisdiction or rendering that or any other provisions of this
Agreement invalid, illegal or unenforceable in any other jurisdiction. If any
covenant should be deemed invalid, illegal or unenforceable because its scope is
considered excessive, such covenant shall be modified so that the scope of the
covenant is reduced only to the minimum extent necessary to render the modified
covenant valid, legal and enforceable.

     

    (c)           Entire
Agreement.  This document, together with its attached exhibit, and
the Stockholders Agreement constitute the final, complete, and exclusive
embodiment of the entire agreement and understanding between the parties related
to the subject matter hereof and supersedes and preempts any prior or
contemporaneous agreements or understandings by or between the parties, whether
written or oral.

     

    (d)           Counterparts. 
This Agreement may be executed in separate counterparts, any one of which need
not contain signatures of more than one party, but all of which taken together
will constitute one and the same agreement.

     

    (e)           Amendments.  No
amendments or other modifications to this Agreement may be made except by a
writing signed by both parties. Nothing in this Agreement, express or implied,
is intended to confer upon any third Person any rights or remedies under or by
reason of this Agreement.

    
      
         

      

      
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    (f)           Governing Law. 
This Agreement shall be governed by and construed in accordance with the laws of
the State of New York applicable to agreements made and/or to be performed in
that State, without regard to any choice of law provisions thereof. Except as
provided under Section 11(k) hereto, all disputes arising out of or related to
this Agreement shall be submitted to the state and federal courts of New York,
and each party irrevocably consents to such personal jurisdiction and waives all
objections thereto, but does so only for the purposes of this
Agreement.

     

    (g)           Survivorship. 
The provisions of this Agreement necessary to carry out the intention of the
parties as expressed herein (including, without limitation, the Restrictive
Covenants provided in Section 6 hereof and Exhibit A hereto)
shall survive the termination or expiration of this Agreement.

     

    (h)           Waiver.  The
waiver by either party of the other party’s prompt and complete performance, or
breach or violation, of any provision of this Agreement shall not operate or be
construed as a waiver of any subsequent breach or violation, and the failure by
either party hereto to exercise any right or remedy which it may possess
hereunder shall not operate or be construed as a bar to the exercise of such
right or remedy by such party upon the occurrence of any subsequent breach or
violation. No waiver shall be deemed to have occurred unless set forth in a
writing executed by or on behalf of the waiving party. No such written waiver
shall be deemed a continuing waiver unless specifically stated therein, and each
such waiver shall operate only as to the specific term or condition waived and
shall not constitute a waiver of such term or condition for the future or as to
any act other than that specifically waived.

     

    (i)   
        Captions.  The
captions of this Agreement are for convenience and reference only and in no way
define, describe, extend or limit the scope or intent of this Agreement or the
intent of any provision hereof.

     

    (j)    
       Construction. 
The parties acknowledge that this Agreement is the result of arm’s-length
negotiations between sophisticated parties, each afforded representation by
legal counsel. Each and every provision of this Agreement shall be construed as
though both parties participated equally in the drafting of the same, and any
rule of construction that a document shall be construed against the drafting
party shall not be applicable to this Agreement.

    
      
         

      

      
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    (k)           Arbitration. 
Except as necessary for Employer, its Subsidiaries, Affiliates, and their
respective successors or assigns or Executive to specifically enforce or enjoin
a breach of this Agreement (to the extent such remedies are otherwise available,
including as provided and limited in Section 11(l) hereof), the parties agree
that any and all disputes that may arise in connection with, arising out of or
relating to this Agreement, or any dispute that relates in any way, in whole or
in part, to Executive’s services on behalf of Employer or any Affiliate, the
termination of such services or any other dispute by and between the parties or
their Subsidiaries, Affiliates, and their respective successors or assigns,
shall be submitted to binding arbitration in New York, New York, before JAMS,
pursuant to the JAMS Employment Arbitration Rules & Procedures (the “Rules”), including
the internal appeal process provided for in Rule 32 of the Rules, and before a
single arbitrator to be mutually agreed upon by the parties. If JAMS is not in
business or is no longer providing arbitration services, then the American
Arbitration Association shall be substituted for JAMS for the purposes of
arbitration under this Section 11(k), and its Commercial Arbitration Rules (and
not National Rules for the Resolution of Employment Disputes) shall be used. The
parties further agree that each party shall pay its own costs, arbitration
expenses and attorneys’ fees, unless the arbitrator (or appeal panel) determines
it is just and proper under the circumstances to award costs, arbitration
expenses and/or attorneys’ fees to either party and provided, further, that if
either party prevails on a statutory claim, which affords the prevailing party
an award of costs and attorneys’ fees, then the arbitrator may award reasonable
costs and attorneys’ fees to the prevailing party, consistent with applicable
law. The arbitrator shall issue a written decision and award supported by
essential findings of fact and conclusions of law. The arbitrator shall have no
jurisdiction or authority to issue any award contrary to or inconsistent with
this Agreement or applicable law. Judgment in a court of competent jurisdiction
may be had on the decision and award of the arbitrator (or the appeal panel).
For this purpose, the parties agree to submit to the jurisdiction of the state
courts located in the Borough of Manhattan, New York and the U.S. District
Courts for the Southern District of New York. Subject to Section 11(l) hereof,
this arbitration obligation extends to any and all claims that may arise by and
between the parties or their Subsidiaries, Affiliates and their respective
successors or assigns, and expressly extends to, without limitation, claims or
causes of action for wrongful termination, impairment of ability to compete in
the open labor market, breach of an express or implied contract, breach of the
covenant of good faith and fair dealing, breach of fiduciary duty, fraud,
misrepresentation, defamation, slander, infliction of emotional distress,
disability, loss of future earnings, and claims under the United States
Constitution, and applicable state and federal fair employment laws, federal and
state equal employment opportunity laws, and federal and state labor statutes
and regulations, including, but not limited to, the Civil Rights Act of 1964, as
amended, the Fair Labor Standards Act, as amended, the Americans With
Disabilities Act of 1990, as amended, the Rehabilitation Act of 1973, as
amended, the Employee Retirement Income Security Act of 1974, as amended, the
Age Discrimination in Employment Act of 1967, as amended, and any other state or
federal law.

     

    (l)        
   Third Party
Beneficiaries.  Except as expressly provided herein, nothing in this
Agreement shall confer any rights or remedies upon any Person other than the
parties hereto.

     

    (m)          Certain
Expenses.  Employer shall reimburse Executive for its reasonable and
documented legal fees and expenses incurred in connection with the preparation
of this Agreement.

     

    [Signature
page follows]

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF AND INTENDING TO
BE LEGALLY BOUND THEREBY, the parties hereto have executed and delivered
this Agreement as of the year and date first above written.

     

    
      
        	 
      	
                EPOCH
      HOLDING CORPORATION

              
	 
      	 
      
	 
      	
                By:

              	
                /s/ Timothy T. Taussig

              
	 
      	 
      	
                Name:   Timothy
      T. Taussig

              
	 
      	 
      	
                Title:   Chief
      Operating Officer

              

      

    

    

    
      
        	
                Accepted
      and Agreed to:

              
	 
      
	
                /s/ William W. Priest

              	 
      
	
                William
      W. Priest

              	 
      

      

    

    

    [Signature
Page for EPOCH Holding Corporation/William W. Priest Employment
Agreement]

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    Exhibit
A

     

    Restrictive
Covenants

    

    Covenant Not to
Compete. Executive acknowledges that (i) Executive will be a key employee
of Employer, (ii) Executive will receive payments pursuant to Section 3 of this
Agreement, (iii) Executive has and will continue to have knowledge, information
and other know-how regarding Employer’s business as a key employee thereof, and
(iv) Executive has and will continue to develop relationships and contacts with
Employer’s clients and investors as a key employee of Employer, and that all of
these factors would permit him to compete with Employer. Executive further
acknowledges that the covenants set forth in this Exhibit A constitute a
material inducement to Employer to employ Executive pursuant to this Agreement
and that Employer would not have agreed to employ Executive unless Executive had
agreed to the covenants set forth in this Exhibit A. Accordingly, Executive
therefore covenants and agrees as follows:

    

    Nature of
Competition. During the Non-Compete Period, Executive shall not, without
the Employer’s prior written consent, directly or indirectly, for his own
account, or in any capacity on behalf of any other third Person, whether as an
officer, director, employee, partner, joint venturer, consultant, investor or
otherwise, engage, or assist others to engage, in whole or in part, in any
business deriving more than ten percent (10%) of its revenues or income from
providing investment management services (a “Competing Business”);
provided, however, that ownership of stock of a business shall not be deemed a
violation of this Exhibit A if and for so long as (i) the stock of such business
is publicly traded; (ii) such ownership does not exceed 5% of the aggregate
outstanding equity interest of such business; and (iii) Executive does not
otherwise participate in the management, operations or affairs of such business.
Notwithstanding the foregoing, nothing in this Agreement shall be construed to
prohibit Executive from (i) rendering services to, acquiring an economic
interest in or otherwise providing assistance to the Employer or any of its
Affiliates or any pooled investment vehicle which is advised or sub-advised by
the Company or any of its Affiliates; (ii) providing investment management
services (whether personally or as an employee or partner of a business formed
for this purpose) solely on his own behalf or on behalf of one or more of his
family members, including trusts of which his family members are the principal
beneficiaries and Persons established solely for the benefit of, and wholly
owned by, his family members; or (iii) rendering services to, acquiring an
economic interest in or otherwise providing assistance to, any immediate family
member engaged in providing investment management services. Furthermore,
Executive may notify the Employer of any proposed activity for the purpose of
soliciting a determination as to whether such activity would violate this
Exhibit A. The Employer agrees that it shall approve or disapprove Executive’s
proposal within 30 days of such notice. If the Employer approves such activity
for purposes of this Exhibit A, then such activity, as disclosed in Executive’s
request for approval, will not constitute a violation of this Exhibit
A.

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    Confidential
Information. During the Employment Period and at all times thereafter,
Executive shall hold in a fiduciary capacity for the sole benefit of Employer
and its Affiliates, all secret or confidential information, knowledge or data
(collectively, “Confidential
Information”), including without limitation trade secrets, investments,
contemplated investments, business opportunities, Company or investment
performance, valuation models and methodologies, relating to the business of the
Employer and its Affiliates, and their respective businesses including, without
limitation, the identity of any investor or client and the fact that such Person
is an investor or client of the Company: (i) obtained by Executive during
Executive’s employment hereunder and (ii) not otherwise in the public domain.
Executive shall not, without prior written consent of Employer (which may be
granted or withheld in its sole and absolute discretion), use, or communicate or
divulge any Confidential Information, or any related knowledge or data to anyone
other than Employer or its Affiliates or those designated by Employer or its
Affiliates, except to the extent compelled pursuant to the order of a court or
other body having jurisdiction over such matter or based upon the advice of his
counsel that such disclosure is legally required; provided, however, that
Executive will assist Employer or its Affiliates, at Employer or such
Affiliates’ expense, in obtaining a protective order, other appropriate remedy
or other reliable assurance that confidential treatment will be accorded such
information so disclosed pursuant to the terms of this Agreement.

    

    All
processes, technologies, investments, contemplated investments, business
opportunities, valuation models and methodologies, and inventions (collectively,
“Inventions”),
including without limitation, new contributions, improvements, ideas, business
plans, discoveries, trademarks and trade names, conceived, developed, invented,
made or found by Executive, alone or with others, during the Employment Period,
whether or not patentable and whether or not on Employer’s or its Affiliates’
time or with the use of their facilities or materials, shall be the property of
Employer or such Affiliates, as applicable, and shall be promptly and fully
disclosed by Executive to Employer or such Affiliates, as applicable. Executive
shall perform all necessary acts (including, without limitation, executing and
delivering any confirmatory assignments, documents, or instruments requested by
Employer or its Affiliates) to vest title to any such Invention in Employer or
its respective controlled Affiliate, as applicable, to enable such party, at its
expense, to secure and maintain domestic and/or foreign patents or any other
rights for such Inventions.

    

    Without
limiting anything contained above, Executive agrees and acknowledges that all
personal and not otherwise public information about Employer and its Affiliates,
including, without limitation, their respective investments, investors,
transactions, historical performance, or otherwise regarding or concerning
Employer or its Affiliates, shall constitute Confidential Information for
purposes of this Agreement. In no event shall Executive, during or after his
employment hereunder, disparage Employer or its Affiliates or any of their
respective officers, directors or employees.

     

    The
provisions of this Exhibit A shall not be deemed to limit any of the rights
available to the respective parties under any other agreements to which they may
be parties and those which arise under applicable law.

    
      
         

      

      
        15

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