Document:

Xtra-Gold Resources Corp.: Exhibit 10.57 - Filed by newsfilecorp.com

Exhibit 10.57 

 February 15, 2011 

Denis Laviolette 

c/o 2 Masalakye Street 

Kwabeng, Ghana 

Dear Denis: 

Re: Grant of Nonqualified Stock Options 

 We are pleased to advise you that on February 15, 2011, the board of directors (the “Board”) of Xtra-Gold Resources Corp. (“Xtra-Gold”) authorized the award to you (sometimes hereinafter referred to as the
“Optionee”) of an option to purchase an aggregate of 56,000 shares of our common stock at a par value $.001 per share (the “Options”), upon the following terms and conditions: 

1. The Options are granted to you in accordance with and subject to the terms and conditions of Xtra-Gold’s 2005 Equity Compensation Plan (the “Plan” or the “Option Plan”).

 2. The Options are granted to you as a consultant of Xtra-Gold. 

3. The Options are nonqualified stock options. 

4. The price at which the Options may be exercised is $1.98 per share. 

 5. The Options have a two (2) year term (the “Option Period”) and may be exercised, in whole or in part, as noted hereunder in paragraph 6, subject to any applicable statutory regulatory hold period and shall terminate at 5:00
p.m. (Eastern Standard Time) on February 14, 2013 (the “Expiry Date”): 

 6. The following vesting schedule is attached to the Options being granted herein at which time the Options shall be fully vested and can immediately be exercised once vested, in whole or in part, until the Expiry Date, and the Option Shares (as
defined herein) shall be subject to any applicable statutory regulatory hold period. 

CORPORATE OFFICE 

Suite 301, 360 Bay Street, Toronto ON, M5H 2V6 Canada 

	PHONE: (416) 366 4227 	E-MAIL: pzyla@xtragold.com
    
	FAX: (416) 981-3055 	WEB SITE: www.xtragold.com
    

	Denis Laviolette 	
    - 2 - 
	
    February 15, 2011

	Pro Rata Portion 	  
	of Options to Vest 	Vesting Period 
	  	  
	20,000 	on February 15, 2011 
	  	  
	3,000 (1) 	on the 15th day of each month of the
      12 months of the Option Period following the date of grant (from March 15,
      2011 to February 15, 2012) 

	 	 	 	(1)  	
      An aggregate of 36,000 Options shall vest in accordance
      with the above-noted vesting period provided that the Optionee has
      provided his consulting services during this
period.

7. The exercise price and number of underlying shares issuable
upon exercise of the Options (the “Option Shares”) are subject to
adjustment in accordance with the Plan in the event of stock splits, dividends,
reorganizations and similar corporate events. 

	 	8. 	(a) 	
      You shall have the right to exercise the Options, in
      whole or in part, for a period of time as may be set out in the Option
      Plan referred to in subparagraph 8(g) hereunder or in accordance with
      securities laws governing Xtra-Gold, but in no event shall the Options be
      exercised later than the earlier of (i) the Expiry Date; and (ii) the
      exercise date contemplated in subparagraphs 8(b), (c), (d) and (e)
      hereunder.

	 	 	 	 
	 	 	(b) 	
      In the event of your voluntary termination as a
      consultant of Xtra-Gold, all Options that have vested at such time must be
      exercised within 90 days from such termination, failing which the Options
      will be cancelled.

	 	 	 	 
	 	 	(c) 	
      In the event of your death during the Option Period, all
      Options that have vested at such time must be exercised by your estate
      within one (1) year from the date of your death, failing which the Options
      will be cancelled.

	 	 	 	 
	 	 	(d) 	
      In the event that your engagement as a consultant of
      Xtra-Gold is terminated by Xtra-Gold, with or without cause, then in such
      event Xtra- Gold agrees that you may retain 100% of the Options that have
      vested at such time; provided, however that the Options referred to in
      this subparagraph must be exercised no later than 90 days following such
      termination, failing which such Options will be cancelled.

	 	 	 	 
	 	 	(e) 	
      In the event of a change of control of Xtra-Gold (as
      defined herein), you will have the right to exercise the Options within 90
      days following the completion of such change of control. For clarity
      purposes, a “Change of Control” shall mean the occurrence of (i)
      any person, other than an Employee (as such term is used in Section 13(d)
      and 14(d) of the Exchange Act is or becomes the “beneficial owner”
      (as defined in Rule 13d-3 under the Exchange Act, directly or
      indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s outstanding securities then having the right to vote at elections of directors; or (ii) the individuals who at the commencement date of this
Agreement, constitute the Board, cease for any reason to constitute a majority thereof unless the election, or nomination for election, of each new director was approved by a vote of at least two-thirds of the directors then in office who were
directors at the commencement of this Agreement; or (iii) there is a failure to elect two (2) or more candidates nominated by management of the Company to the Board; or (d) the business of the Company for which your services may be principally
performed is disposed of by the Company pursuant to a partial or complete liquidation of the Company, a sale of assets (including stock of a subsidiary of our Company) or otherwise.

	
Denis Laviolette
		
- 3 -
	
	
February 15, 2011
	

	
 	
 	
(f) 		
The share certificate or certificates issued as a result of the exercise of Options from time to time shall bear a restrictive legend with respect to the resale of the Option Shares issued in connection therewith. The applicable
hold period shall be six (6) months from the date of issuance of the Option Shares and may only be resold in accordance with Rule 144.

	
	 	 	 	 
	
 	
 	
(g) 		
Xtra-Gold implemented and adopted the Option Plan which implementation and adoption was approved in writing by the Board in June 2005. Xtra-Gold was not required nor did it obtain stockholder approval of the Option Plan.

	
	 	 	 	 
	
 	
 	
(h) 		
The Options shall at all times be subject to the terms of this Option Agreement and the Option Plan.

	

 9. Xtra-Gold provides no assurance that there will be a public market into which you can sell the Option Shares or that you will be able to sell your Option Shares at a profit or at all. 

 10. In order to exercise the Options, you must provide us with written notice that you are exercising all or a portion of such Options. The written notice must specify the number of Option Shares that you are exercising your Options for, and must
be accompanied by the exercise price described in paragraph 4 above. Your Option Shares will be issued to you within approximately one (1) week following our receipt of your exercise notice and cleared funds evidencing payment in full of the
exercise price. 

 11. No rights or privileges of a stockholder of Xtra-Gold are conferred by reason of the grant of the Options to you.  You will have no rights of a stockholder until you have delivered your exercise notice to us and we have received the exercise
price of the Options in cleared funds and Xtra-Gold has delivered a share certificate or certificates to you evidencing the Option Shares arising out of such exercise. 

 12. You understand that the Plan contains important information about your Options and your rights with respect to the Options. The Plan includes (a) terms relating to your right to exercise the Options; (b) important restrictions on your ability
to transfer the Options or Option
Shares; and (c) early termination of the Options following the occurrence of certain events, including the termination of your relationship with us. By signing below, you acknowledge your receipt of a copy of the Plan.  By acceptance of your Options
by way of execution of this Agreement, you agree to abide by the terms and conditions of this Agreement and the Plan. 

	
Denis Laviolette
		
- 4 -
	
	
February 15, 2011
	

 13. As a smaller reporting company, Xtra-Gold is subject to many of the risks and uncertainties associated with such a company. We may never operate profitably. The exercise of your Options is a speculative investment and there is no assurance that
you will realize a profit on the exercise of your Options. 

 14. The Options will become effective upon your acknowledgment and agreement of the terms and conditions of this Agreement and your delivery to us of a signed counterpart of this Agreement. 

 15. This Agreement and Plan contain all of the terms and conditions of your Options and supercedes all prior agreements or understandings relating to your Options. This Agreement shall be governed by the laws of the State of Nevada without regard
to the conflicts of laws and provisions thereof. This Agreement may not be amended orally and any amendment must be made in writing. 

 We appreciate your continued support and contributions and are hopeful that your Options will provide financial benefits to you in the future. 

 Yours very truly, 

 XTRA-GOLD RESOURCES CORP. 

 Paul Zyla, 

 President and Chief Executive Officer 

 AGREED TO AND ACCEPTED this 15th day of February, 2011. 

   _____________________________

                Denis LavioletteXtra-Gold Resources Corp.: Exhibit 10.58 - Filed by newsfilecorp.com

 Exhibit 10.58 

MANAGEMENT CONSULTING AGREEMENT 

 THIS AGREEMENT made as of the 1st day of March, 2011. 

B E T W E E N : 

 XTRA-GOLD RESOURCES CORP., 

 a Nevada corporation, having an office at 

 Suite 301 - 360 Bay Street, Toronto ON M5H 2V6 

 (hereinafter referred to as the “Corporation”) 

 OF THE SECOND PART 

 - and - 

 YVES P. CLEMENT, 

 c/o 2 Masalakye Street, Kwabeng, Ghana 

 (hereinafter referred to as the “Consultant”) 

 OF THE THIRD PART

 WHEREAS the Corporation is engaged in the exploration of gold properties (the “Business”) and is desirous of obtaining from the Consultant geological services on the basis hereinafter provided;

  AND WHEREAS the Consultant is a qualified and experienced geologist and is prepared to provide the services specified herein to the Corporation; 

  AND WHEREAS the Consultant was appointed Vice-President, Exploration of the Corporation on May 1, 2006 and has continued to serve in such capacity since such time; 

  WITNESSETH that in consideration of the covenants, agreements and warranties herein set forth and for other good and valuable consideration, the parties hereto respectively covenant and agree as follows: 

1.  Services to be Provided by the Consultant. 

 (a) The Consultant will maintain the position of Vice-President, Exploration and shall provide geological services (the “Services”) upon the various terms and conditions hereinafter set forth and as may be directed from time to
time by (i) the President of the Corporation; and/or (ii) the General Manager (the “GM”) of the Corporation’s Ghanaian subsidiaries and in connection therewith the Consultant agrees to report directly to the President and/or
the GM. 

 (b) The Consultant agrees to provide the Services primarily at the Corporation’s mineral projects situated in the Kibi Gold Belt and located in Ghana, West Africa. 

2. Term.  The term of this Agreement is three (3) years (the “Term”) and shall commence on March 1, 2011 (the “Commencement Date”) and end on March 1, 2014 unless terminated earlier in accordance with
paragraph 5 below. 

- 2 - 

3. Compensation. The Consultant shall be compensated for
his services under this Agreement on the following basis: 

(a) The Consultant shall be paid a consulting fee of
US$12,500.00 (the “Fees”) on a monthly basis on the last day of each
month during the Term. 

(b) Upon the Commencement Date, the Corporation shall grant to
the Consultant 100,000 nonqualified incentive stock options (the
“Options”) in the manner set forth in subparagraph (c) hereunder. 

(c) With respect to the grant of the options referred to in
subparagraph (b) above, among other things: 

	 	 	(i) 	
      the exercise price of the Options shall be based upon the
      closing price of the Corporation’s common shares on the Commencement
      Date;

	 	 	 	 
	 	 	(ii) 	
      the term of the Options (the “Option Term”) shall
      expire on March 1, 2014 (the “Expiry Date”); provided that this
      Agreement remains in force, otherwise the Options must be exercised within
      90 days of the termination of this Agreement;

	 	 	 	 
	 	 	(iii) 	
      the Options are to vest pro rata to the Consultant over
      the Option Term in accordance with the following vesting
  schedule:

	Pro Rata Portion of Options to Vest 	Vesting Period 
	  	  
	5,000 	on the 1st day of each month of the
      20 months of the Option Period following the date of grant (from April 1,
      2011 to November 1, 2012) 
	  	  
	3,000 (1) 	on the 1st day of the 36th
      month of the Option Period (March 1, 2014) 

	 	 	(iv) 	
      the shares issued on exercise of the Options will be
      subject to any statutory regulatory hold period imposed by the applicable
      securities regulatory authorities; and

	 	 	 	 
	 	 	(v) 	
      additional terms and conditions shall be more
      particularly set forth in the stock option agreement to be entered into
      between the Consultant and Corporation at the time of granting of the
      options by the board of directors of the
Corporation.

(d) The Consultant shall be reimbursed for travel expenses
incurred in performing his obligations under this Agreement which shall be
supported by written invoices, expense reports, vouchers or other evidences of
payment. 

- 3 - 

4. Place of Work and Work Schedule 

(a) The Consultant shall render the Services primarily in the Republic of Ghana, or at such other place or places as may be reasonably requested by the Corporation from time to time as deemed appropriate for the performance of particular
Services. 

 (b) The Consultant agrees to provide the equivalent of 21 days per month or in aggregate, 252 days per year of the Services for the Corporation. 

5.  Termination. 

(a) Either party may terminate this Agreement at any time during the Term without reason or cause by providing the other party with 90 days’ written notice of such termination to the address noted on the face page of this Agreement,
which notice may be waived in whole or in part by the other party. 

 (b) If the Corporation terminates the Consultant’s Services prior to September 30, 2012 (the “Early Termination”), then the Corporation agrees to pay the Consultant addition remuneration of CAD$10,000 per month for each
additional month of Early Termination. For clarity purposes, if the Corporation terminates the Consultant’s Services on March 1, 2012, then the Corporation will pay an additional CAD$60,000. 

 (c) The parties hereto agree that in the event that the Corporation terminates the Consultant’s Services on or after October 1, 2012, then no additional remuneration will be owed or will be paid by the Corporation. 

6.  Confidential Information. The Consultant shall not at any time during the terms of this Agreement, or at any time thereafter, use or disclose proprietary information of the Corporation without the written authorization of the Corporation.

7.  Governing Law.  This Agreement shall be constructed and interpreted in accordance with laws of the State of Nevada and the federal laws of the United States of America applicable therein. Each of the parties hereby irrevocably attorns to
the jurisdiction of the courts of the State of Nevada with respect to any matters arising out of this Agreement. 

8.  Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the Consultant’s Services and any and all previous arrangements, written or oral, express or implied, between the parties
or on their behalf, relating to the Services are terminated and cancelled and each of the parties releases and forever discharges the other of and from all manner of actions, causes of action, claims and demands whatsoever, under or in respect of
any such agreement. 

9.  Severability.  If any provision of this Agreement is determined to be void or unenforceable in whole or in part, it shall not be deemed to affect or impair the validity of any other provision herein and each such provision is
deemed to be separate, distinct and severable. 

- 4 - 

10.  Enurement. This Agreement shall enure to the benefit of and be binding upon the Consultant and his heirs, executors and administrators and upon the Corporation and its successors and assigns. 

11.  Amendment of Agreement.  This Agreement may be amended only by an instrument in writing signed by all of the parties to this Agreement. 

12.  Assignment of Agreement.  The rights of the Consultant hereunder are not assignable or otherwise transferable by the Consultant. 

13.  Execution of Agreement. This Agreement may be signed by the parties hereto in counterpart, each of which counterpart when so signed shall be deemed to be an original, and such counterparts together shall constitute one and the same
instrument and notwithstanding the date of execution will be deemed to bear the execution date as set forth in this Agreement. This Agreement may be executed by facsimile and such facsimile or facsimiles shall be deemed to represent the original
Agreement. 

  IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the day and year first above written. 

	
SIGNED, SEALED AND DELIVERED
		
 	
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XTRA-GOLD RESOURCES CORP.
	
	
in the presence of
		
 	
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Paul Zyla  
President and CEO
	
	
 
		
 	
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Signature of Witness
		
 	
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YVES P. CLEMENT
	

	
 
		
 	
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Print Name
		
 	
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