Document:

EXHIBIT 10.59

 

	
Director
    	
Grant   No.:    20      
    

 

ROYAL GOLD, INC.

2015 OMNIBUS LONG-TERM INCENTIVE PLAN

 

RESTRICTED STOCK AGREEMENT

 

Royal Gold, Inc., a Delaware corporation (the “Company”), hereby grants shares of its common stock, $.01 par value (the “Stock”), to the Grantee named below, subject to the restrictions and vesting conditions set forth in the attachment.  Additional terms and conditions of the grant are set forth in this cover sheet, in the attachment and in the Company’s 2015 Omnibus Long-Term Incentive Plan (the “Plan”).

 

Grant Date:

 

Name of Grantee:

 

Grantee’s Social Security Number:

 

Number of Shares of Stock Covered by Grant:

 

Purchase Price per Share of Stock:                                                                                                                                       Par value, paid by services previously rendered

 

By signing this cover sheet, you agree to all of the terms and conditions described in the attached Agreement and in the Plan, a copy of which is also available upon request to the Corporate Secretary.  You acknowledge that you have carefully reviewed the Plan, and agree that the Plan will control in the event any provision of this Agreement should appear to be inconsistent.

 

 

	
Grantee:
    	
 
    	
 
    
	
 
    	
(Signature)
    	
 
    
	
 
    	
 
    	
 
    
	
Company:
    	
 
    	
 
    
	
 
    	
(Signature)
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    

 

Attachment

 

This is not a stock certificate or a negotiable instrument.

 

 

	
Director
    	
Grant   No.:    20      
    

 

ROYAL GOLD, INC.

2015 OMNIBUS LONG-TERM INCENTIVE PLAN

RESTRICTED STOCK AGREEMENT

 

	
Restricted   Stock/

Nontransferability
    	
 
    	
This grant is an award   of restricted Stock (“Restricted Stock”) in the number of shares set forth on   the cover sheet.  The per share   purchase price of par value has been satisfied by your prior service to the   Company.  The grant is subject to the   vesting conditions described below.  To   the extent not yet vested, your Restricted Stock may not be transferred,   assigned, pledged or hypothecated, whether by operation of law or otherwise,   nor may the Restricted Stock be made subject to execution, attachment or   similar process.
    
	
 
    	
 
    	
 
    
	
Issuance and Vesting
    	
 
    	
The Company will issue   your Restricted Stock in your name as of the Grant Date.

 

Your right to the Stock   under this Restricted Stock grant vests immediately as to fifty percent (50%)   of the total number of shares covered by this grant and the remaining fifty   percent (50%) on the first anniversary of the Grant Date (“Vesting Date”),   provided you then continue in Service.    If the Vesting Date should occur during a period in which you are (i) subject   to a lock-up agreement restricting your ability to sell shares of Stock in   the open market or (ii) restricted from selling shares of Stock in the   open market because you are not then eligible to sell under the Company’s   insider trading or similar plan as then in effect (whether because a trading   window is not open or you are otherwise restricted from trading), vesting in   such shares of Stock will be delayed until the earlier of (A) the first   date on which you are no longer prohibited from selling shares of Stock due   to a lock-up agreement or insider trading or similar plan restriction   applicable to you or (B) either the date of your involuntary termination   of your Service by the Company or a Subsidiary, your death or your Disability   (the earlier of the dates in clause (A) and (B) shall be the   “Deferred Vesting Date”), and provided, further, that you have been   continuously in Service to the Company or a Subsidiary from the Grant Date   until the Deferred Vesting Date.

 

If the Deferred Vesting   Date is determined pursuant to clause (B) above, you are prohibited from   selling shares of Stock due to a lock-up agreement or insider trading or   similar plan restriction applicable to you on the Deferred Vesting Date and   you meet the continuous Service requirements, then, to the extent legally   permitted under the General Corporation Law of the State of Delaware and   other applicable law, you may elect to satisfy any obligations to pay any   Federal, state, or local taxes of any kind required by law to be withheld   with respect to the vesting of or other lapse of restrictions applicable to   such an Award, in whole or in part, (x) by causing the Company or its   Affiliate to withhold shares of Stock otherwise issuable to you or   (y) by delivering to the Company or its Affiliate shares of Stock   already owned by you. The shares of Stock so delivered or withheld shall have   an aggregate Fair Market Value equal to such withholding obligations. In no   case shall the shares withheld or delivered exceed the minimum required   Federal, state, and FICA statutory withholding rates. The Fair Market Value   of the shares of Stock used to satisfy such withholding obligation shall be   determined by the Company or its Affiliate as of the date that the amount of   tax to be withheld is to be determined. If you make an election pursuant to   the forgoing sentence, you may satisfy your withholding obligation only with   shares of Stock that are not subject to any repurchase, forfeiture,   unfulfilled vesting, or other similar requirements.
    

 

 

	
Termination after Long-Term   Service
    	
 
    	
Notwithstanding the   foregoing vesting schedule, if: (i) you incur a termination in   connection with a Corporate Transaction or (ii) you have provided   fifteen (15) years of Service to the Company and you are not nominated for a   re-election or incur any other involuntary cessation of Service as a   director, you shall be one hundred percent (100%) vested in the Restricted   Stock as of the date of such termination of Service.

 

The resulting aggregate   number of vested shares will be rounded to the nearest whole number, and you   cannot vest in more than the number of shares covered by this grant.
    
	
 
    	
 
    	
 
    
	
Forfeiture of Unvested Stock
    	
 
    	
Unless otherwise   approved by the Board, in the event that your Service terminates for any   reason, except as provided above in the section entitled “Issuance and   Vesting,” you will forfeit to the Company all of the shares of Restricted   Stock subject to this grant that have not yet vested.
    
	
 
    	
 
    	
 
    
	
Escrow
    	
 
    	
The shares of   Restricted Stock shall be deposited in escrow with the Company’s transfer   agent to be held in accordance with the provisions of this paragraph.  All shares of Restricted Stock are subject   to the duly executed Assignment Separate from Certificate in the form   attached hereto as Exhibit A.    The shares of Restricted Stock shall remain in escrow until such time   or times as the shares are to be released or otherwise surrendered for   cancellation as discussed below..

 

All regular cash   dividends on the Restricted Stock (or other securities at the time held in   escrow) shall be paid directly to you and shall not be held in escrow.  However, in the event of any stock   dividend, stock split, recapitalization or other change affecting the   Company’s outstanding common stock as a class effected without receipt of   consideration or in the event of a stock split, a stock dividend or a similar   change in the Company Stock, any new, substituted or additional securities or   other property which is by reason of such transaction distributed with   respect to the Restricted Stock shall be immediately delivered to the   Secretary of the Company to be held in escrow hereunder, but only to the   extent the Restricted Stock is at the time subject to the escrow requirements   hereof.

 

The shares of   Restricted Stock held in escrow hereunder shall be subject to the following   terms and conditions relating to their release from escrow or their surrender   to the Company for repurchase and cancellation:

 

·                 As   your interest in the shares vests as described above, the vested shares shall   be released from escrow and delivered to you, at your request, within thirty   (30) days following each vesting date.

 

·                 Upon   termination of your Service, any escrowed shares in which you are at the time   vested shall be promptly released from escrow.

 

·                 Should   the Company exercise its rights to cause a forfeiture with respect to any   unvested shares (as described below) held at the time in escrow hereunder,   then such unvested shares shall be surrendered to the Company for   cancellation, and you shall have no further rights with respect to such   shares of Restricted Stock.

 

·                 Should   the Company elect not to exercise its right to cause a forfeiture with   respect to any shares held at the time in escrow hereunder, then such shares   shall be surrendered to you.
    

 

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Withholding Taxes
    	
 
    	
You agree, as a   condition of this grant, that you will make acceptable arrangements to pay   any withholding or other taxes that may be due as a result of the vesting of   Restricted Stock acquired under this grant.    In the event that the Company determines that any federal, state,   local or foreign tax or withholding payment is required relating to the   vesting of shares arising from this grant, the Company shall have the right   to: (i) require such payments from you; (ii) withhold such amounts   from other payments due to you from the Company or any Affiliate; or   (iii) withhold shares of Restricted Stock granted pursuant to this Agreement   in an amount equal to the withholding or other taxes due.
    
	
 
    	
 
    	
 
    
	
Section 83(b) Election
    	
 
    	
Under Section 83   of the Internal Revenue Code of 1986, as amended (the “Code”), the difference   between the purchase price paid for the shares of Restricted Stock and their   fair market value on the date any forfeiture restrictions applicable to such   shares lapse will be reportable as ordinary income at that time.  For this purpose, “forfeiture restrictions”   include the Company’s Repurchase Right   or forfeiture as to unvested Restricted Stock described above.  You may elect to be taxed at the time the   shares are acquired, rather than when such shares cease to be subject to such   forfeiture restrictions, by filing an election under Section 83(b) of   the Code with the Internal Revenue Service within thirty (30) days after the   Grant Date.  You will have to make a   tax payment to the extent the purchase price is less than the fair market   value of the shares on the Grant Date.    No tax payment will have to be made to the extent the purchase price   is at least equal to the fair market value of the shares on the Grant   Date.  The form for making this   election is attached as Exhibit B hereto.  Failure to make this filing within the   thirty (30) day period will result in the recognition of ordinary income by   you (in the event the fair market value of the shares as of the vesting date   exceeds the purchase price) as the forfeiture restrictions lapse.

 

YOU ACKNOWLEDGE THAT IT IS YOUR   SOLE RESPONSIBILITY, AND NOT THE COMPANY’S, TO FILE A TIMELY ELECTION UNDER   SECTION 83(b), EVEN IF YOU REQUEST THE COMPANY OR ITS REPRESENTATIVES TO   MAKE THIS FILING ON YOUR BEHALF.  YOU   ARE RELYING SOLELY ON YOUR OWN ADVISORS WITH RESPECT TO THE DECISION AS TO   WHETHER OR NOT TO FILE ANY 83(b) ELECTION.
    
	
 
    	
 
    	
 
    
	
Retention Rights
    	
 
    	
This Agreement does not   give you the right to be retained by the Company (or any Parent, Subsidiaries   or Affiliates) in any capacity.  The   Company (and any Parent, Subsidiaries or Affiliates) reserves the right to terminate   your Service at any time and for any reason.
    
	
 
    	
 
    	
 
    
	
Shareholder Rights
    	
 
    	
You have the right to   vote the Restricted Stock and to receive any dividends declared or paid on   such stock.  Any distributions you   receive as a result of any stock split, stock dividend, combination of shares   or other similar transaction shall be deemed to be a part of the Restricted   Stock and subject to the same conditions and restrictions applicable   thereto.  The Company may in its sole   discretion require any dividends paid on the Restricted Stock to be   reinvested in shares of Stock, which the Company may in its sole discretion   deem to be a part of the shares of Restricted Stock and subject to the same   conditions and restrictions applicable thereto.  
    
	
 
    	
 
    	
 
    
	
Forfeiture of Rights
    	
 
    	
If you should take   actions in competition with the Company, the Company shall have the right to   cause a forfeiture of your rights, including, but not limited to: (i) a   forfeiture of any outstanding unvested Restricted Stock, and (ii) with   respect to the 
    

 

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period commencing   twelve (12) months prior to your termination of Service with the Company   (A) a forfeiture of any proceeds received upon a sale of shares acquired   by you upon vesting of shares of Restricted Stock or (B) a forfeiture of   any shares of Stock acquired by you upon vesting of the Restricted Stock.   Unless otherwise specified in an employment or other agreement between the   Company and you, you take actions in competition with the Company if you   directly or indirectly, own, manage, operate, join or control, or participate   in the ownership, management, operation or control of, or are a proprietor,   director, officer, stockholder, member, partner or an employee or agent of,   or a consultant to any business, firm, corporation, partnership or other   entity that is in the business of creating, financing, acquiring,  investing in and managing precious metal   royalties, precious metal streams and similar interests. Under the prior   sentence, ownership of less than 1% of the securities of a public company   shall not be treated as an action in competition with the Company.
    
	
 
    	
 
    	
 
    
	
Adjustments
    	
 
    	
In the event of a stock   split, a stock dividend or a similar change in the Company Stock, the number   of shares covered by this grant may be adjusted (and rounded down to the   nearest whole number) pursuant to the Plan.    Your Restricted Stock shall be subject to the terms of the agreement   of merger, liquidation or reorganization in the event the Company is subject   to such corporate activity.
    
	
 
    	
 
    	
 
    
	
Legends
    	
 
    	
All certificates or   book entries representing the Restricted Stock issued in connection with this   grant shall, where applicable, have endorsed thereon the following legends:

 

“THE SHARES REPRESENTED BY THIS   CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND OPTIONS TO   PURCHASE SUCH SHARES SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE   REGISTERED HOLDER, OR HIS OR HER PREDECESSOR IN INTEREST. A COPY OF SUCH   AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL BE   FURNISHED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY BY THE HOLDER   OF RECORD OF THE SHARES REPRESENTED BY THIS CERTIFICATE.”
    
	
 
    	
 
    	
 
    
	
Applicable Law
    	
 
    	
This Agreement will be   interpreted and enforced under the laws of the State of Delaware, other than   any conflicts or choice of law rule or principle that might otherwise   refer construction or interpretation of this Agreement to the substantive law   of another jurisdiction.
    
	
 
    	
 
    	
 
    
	
The Plan
    	
 
    	
The text of the Plan is   incorporated in this Agreement by reference.    Certain capitalized terms used in this Agreement are defined in the   Plan, and have the meaning set forth in the Plan.

 

This   Agreement and the Plan constitute the entire understanding between you and   the Company regarding this grant of Restricted Stock.  Any prior agreements, commitments or   negotiations concerning this grant are superseded.
    
	
 
    	
 
    	
 
    
	
Other Agreements
    	
 
    	
You agree, as a   condition of this grant of Restricted Stock, that you will execute such   document(s) as necessary to become a party to any shareholder agreement   or voting trust as the Company may require.
    
	
 
    	
 
    	
 
    
	
Data Privacy
    	
 
    	
In order to administer   the Plan, the Company may process personal data about you.  Such data includes but is not limited to   the information provided in this Agreement 
    

 

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and any changes   thereto, other appropriate personal and financial data about you such as home   address and business address and other contact information, payroll   information and any other information that might be deemed appropriate by the   Company to facilitate the administration of the Plan.

 

By accepting this   award, you give explicit consent to the Company to process any such personal   data.  You also give explicit consent   to the Company to transfer any such personal data outside the country in   which you work or are employed, including, with respect to non-U.S. resident   Grantees, to the United States, to transferees who shall include the Company   and other persons who are designated by the Company to administer the Plan.
    
	
 
    	
 
    	
 
    
	
Holding Period
    	
 
    	
You are required to   hold, within five years of this Grant Date, XX shares of Stock (which   reflects an amount equal to ten times the annual non-employee directors’   retainer ($XX), calculated using the closing price of the Stock on the Grant   Date).
    

 

By signing the cover sheet of this Agreement, you agree to all of the terms and conditions described above and in the Plan.

 

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Director
    	
Grant   No.:    20      
    

 

EXHIBIT A

 

ASSIGNMENT SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED,              hereby sells, assigns and transfers unto Royal Gold, Inc., a Delaware corporation (the “Company”),              (          ) shares of common stock of the Company represented by Certificate No.     herewith and does hereby irrevocable constitute and appoint                the Corporate Secretary to transfer the said stock on the books of the Company with full power of substitution in the premises.

 

Dated:            , 20

 

	
 
    	
 
    
	
 
    	
Print Name
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Signature
    

 

 

Spouse Consent (if applicable)

 

(Purchaser’s spouse) indicates by the execution of this Assignment his or her consent to be bound by the terms herein as to his or her interests, whether as community property or otherwise, if any, in the shares of common stock of the Company.

 

 

	
 
    	
 
    
	
 
    	
Signature
    

 

INSTRUCTIONS:  PLEASE DO NOT FILL IN ANY BLANKS OTHER THAN THE SIGNATURE LINE.  THE PURPOSE OF THIS ASSIGNMENT IS TO ENABLE THE COMPANY TO EXERCISE ITS “REPURCHASE OPTION” SET FORTH IN THE AGREEMENT WITHOUT REQUIRING ADDITIONAL SIGNATURES ON THE PART OF PURCHASER.

 

 

	
Director
    	
Grant   No.:    20      
    

 

EXHIBIT B

 

ELECTION UNDER SECTION 83(b) OF
 THE INTERNAL REVENUE CODE

 

The undersigned hereby makes an election pursuant to Section 83(b) of the Internal Revenue Code with respect to the property described below and supplies the following information in accordance with the regulations promulgated thereunder:

 

1.                                      The name, address and social security number of the undersigned:

 

Name:

 

Address:

 

 

Social Security No. :

 

2.                                      Description of property with respect to which the election is being made:

 

shares of common stock, par value $.01 per share, Royal Gold, Inc., a Delaware corporation, (the “Company”).

 

3.                                      The date on which the property was transferred is                , 20  .

 

4.                                      The taxable year to which this election relates is calendar year 20  .

 

5.                                      Nature of restrictions to which the property is subject:

 

The shares of stock are subject to the provisions of a Restricted Stock Agreement between the undersigned and the Company.  The shares of stock are subject to forfeiture under the terms of the Agreement.

 

6.                                      The fair market value of the property at the time of transfer (determined without regard to any lapse restriction) was $           per share, for a total of $          .

 

7.                                      The amount paid by taxpayer for the property was $          .

 

8.                                      A copy of this statement has been furnished to the Company.

 

Dated:               , 20

 

	
 
    	
 
    
	
 
    	
Taxpayer’s Signature
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Taxpayer’s Printed NameEXHIBIT 10.60

 

	
Executive Officer
    	
Grant   No. 20        
    

 

ROYAL GOLD, INC.

2015 OMNIBUS LONG-TERM INCENTIVE PLAN

 

PERFORMANCE SHARE AGREEMENT

 

Royal Gold, Inc., a Delaware corporation (the “Company”), hereby grants performance shares relating to shares of its common stock, $.01 par value (the “Stock”), to the individual named below as the Holder, subject to the vesting conditions set forth in this cover page and the attachment (the “Agreement”).  Additional terms and conditions of the grant are set forth in this cover sheet, in the attachment and in the Royal Gold, Inc. 2015 Omnibus Long-Term Incentive Plan (the “Plan”).

 

Grant Date:

 

Name of Holder:

 

Holder’s Social Security Number:

 

Number of Performance Shares Covered by Grant:

 

This Performance Share grant is subject to all of the terms and conditions described in this Agreement and in the Plan, a copy of which is available for your review upon request to the Secretary.  You should carefully review the Plan, and the Plan will control in the event any provision of this Agreement should appear to be inconsistent with the terms of the Plan.

 

	
Grantee:
    	
 
    	
 
    
	
 
    	
(Signature)
    	
 
    
	
 
    	
 
    	
 
    
	
Company:
    	
 
    	
 
    
	
 
    	
(Signature)
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    

 

Attachment

 

This is not a stock certificate or a negotiable instrument.

 

 

	
Executive Officer
    	
Grant   No. 20        
    

 

ROYAL GOLD, INC.

2015 OMNIBUS LONG-TERM INCENTIVE PLAN

PERFORMANCE SHARE AGREEMENT

 

	
Performance   Shares — Number and Transferability        
    	
 
    	
This grant is an award   of performance shares in the number of shares set forth on the cover sheet,   subject to the vesting conditions described below (the “Performance   Shares”).  The purchase price for the   Performance Shares is deemed paid by your services to the Company. The number   of Performance Shares, if any, that may be issued pursuant to the terms of   this Agreement shall be calculated based on the attainment of specified   performance goals, as set forth on the attached Exhibit A. Your   Performance Shares may not be transferred, assigned, pledged or hypothecated,   whether by operation of law or otherwise, nor may the Performance Shares be   made subject to execution, attachment or similar process.
    
	
 
    	
 
    	
 
    
	
Vesting
    	
 
    	
You will vest in the   number of Performance Shares, if any, determined in accordance with the terms   of Exhibit A following the availability of data upon which   vesting can be calculated, but in no event later than September 30,       ; provided that, except as otherwise set forth in   this Agreement, you continue in continuous Service from the Grant Date to   June 30,     .

 

Except as otherwise   provided in this Agreement, no additional Performance Shares will vest after   your Service has terminated for any reason.

 

All Performance Shares   that have not vested as a result of performance or otherwise as a result of   the provisions of this Agreement on or prior to the end of fiscal year        will be forfeited.

 

The Compensation,   Nominating and Governance Committee (the “Committee”) has the authority to   certify whether the vesting thresholds set forth in Exhibit A have been   achieved within the meaning of Treasury Regulations,   Section 1.162-27(e)(5).  Further,   the Committee shall determine if you have incurred an Involuntary Termination   and whether or not such Involuntary Termination was in connection with a   Corporate Transaction.  Any such   determinations shall be made in the sole discretion of the Committee.  The resulting aggregate number of vested   Performance Shares will be rounded down to the nearest whole number of Performance   Shares.  You may not vest in more than   the maximum number of Performance Shares set forth on the cover sheet.
    
	
 
    	
 
    	
 
    
	
Termination   without Cause, Good Reason or Non-Renewal of Employment Agreement; Change of   Control
    	
 
    	
Notwithstanding the   foregoing vesting rules, if (i) the Company terminates your Service or   your Employment Agreement without “Cause” (as defined in your Employment   Agreement) during the term of your Employment Agreement, (ii) you   terminate your Service or your Employment Agreement for “Good Reason” (as   defined in your Employment Agreement) during the term of your Employment   Agreement, or (iii) your Service is terminated upon the Company’s   election not to renew the term for one of the four successive one-year   renewal terms pursuant to Section 2 of your Employment Agreement, and   any such termination does not occur within the period beginning ninety (90)   days prior to and ending two (2) years after the occurrence of a “Change   of Control” (as defined in your Employment Agreement), then, you will be   eligible to vest in a prorated portion of the Performance Shares to which you   would be entitled based on the Company’s performance through the last day of   the Company’s fiscal year in which your Service is terminated and determined   in accordance with the Company’s practices as in effect at such time.  Once the 
    

 

 

	
 
    	
 
    	
Committee has   determined the degree to which the performance criteria through the last day   of the Company’s fiscal year in which your Service is terminated has been   satisfied, your prorated vesting portion will be determined by multiplying   the number of Performance Shares that would otherwise vest based on Company   performance by a fraction, where the numerator is the number of days you remained   in Service from the Grant Date through the date of your termination of   Service and the denominator is the number of days from the Grant Date to the   date the performance criteria were satisfied.    The resulting aggregate number of vested shares will be rounded down   to the nearest whole number, and you cannot vest in more than the maximum   number of shares set forth on the cover sheet.

 

If (i) the Company   terminates your Service or your Employment Agreement without “Cause” (as   defined in your Employment Agreement) during the term of your Employment   Agreement, (ii) you terminate your Service or your Employment Agreement   for “Good Reason” (as defined in your Employment Agreement) during the term   of your Employment Agreement, or (iii) your Service is terminated upon   the Company’s election not to renew the term for one of the four successive   one-year renewal terms pursuant to Section 2 of your Employment   Agreement, and any such termination occurs within the period beginning ninety   (90) days prior to and ending two (2) years after the occurrence of a   “Change of Control” (as defined in your Employment Agreement), then, you will   be one hundred percent (100%) vested in the maximum number of Performance   Shares set forth on the cover sheet as of the date of your termination.

 

As used herein, the   term “Employment Agreement” shall mean that certain Employment Agreement   between you and the Company dated             , as the same may   be amended after the date hereof.
    
	
 
    	
 
    	
 
    
	
Delivery   of Stock Pursuant to Vested Performance Shares
    	
 
    	
Unless an earlier   delivery date is specified below, Stock represented by the vested Performance   Shares (which shares of Stock will be rounded down to the nearest number of   whole shares) will be delivered to you as soon as practicable following the end   of fiscal year     , but in no event later than   September 30,    , provided that, if such date occurs   during a period in which you are (i) subject to a lock-up agreement   restricting your ability to sell shares of Stock in the open market, or   (ii) restricted from selling shares of Stock in the open market because   you are not then eligible to sell under the Company’s insider trading plan or   similar plan as then in effect (whether because a trading window is not open   or you are otherwise restricted from trading), vesting in such shares of   Stock will be delayed until the earlier of (A) the first date on which   you are no longer prohibited from selling shares of Stock due to a lock-up   agreement or insider trading or similar plan restriction applicable to you or   (B) either the date of your involuntary termination of your Service by   the Company or a Subsidiary, your death or your Disability (the earlier of   the dates in clause (A) and (B) shall be the “Deferred Vesting   Date”), and provided, further, that you have been continuously in Service to   the Company or a Subsidiary from the Grant Date until the Deferred Vesting   Date.

 

If the Deferred Vesting   Date is determined pursuant to clause (B) above, you are prohibited from   selling shares of Stock due to a lock-up agreement or insider trading or   similar plan restriction applicable to you on the Deferred Vesting Date and   you meet the continuous Service requirements, then, to the extent legally   permitted under the General Corporation Law of the State of Delaware and other   applicable law, you may elect to satisfy any obligations to pay any Federal,   state, or local taxes of any 
    

 

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kind required by law to   be withheld with respect to the vesting of or other lapse of restrictions   applicable to such an Award, in whole or in part, (x) by causing the   Company or its Affiliate to withhold shares of Stock otherwise issuable to   you or (y) by delivering to the Company or its Affiliate shares of Stock   already owned by you.  The shares of   Stock so delivered or withheld shall have an aggregate Fair Market Value   equal to such withholding obligations.    In no case shall the shares withheld or delivered exceed the minimum   required Federal, state, and FICA statutory withholding rates. The Fair   Market Value of the shares of Stock used to satisfy such withholding   obligation shall be determined by the Company or its Affiliate as of the date   that the amount of tax to be withheld is to be determined.  If you make an election pursuant to this   paragraph, you may satisfy your withholding obligation only with shares of   Stock that are not subject to any repurchase, forfeiture, unfulfilled   vesting, or other similar requirements.

 

Notwithstanding the   foregoing, if you are terminated under circumstances entitling you to vest in   Performance Shares even though you do not remain in Service through   June 30,     , the shares of Stock represented by   the vested Performance Shares (which shares of Stock will be rounded down to   the nearest number of whole shares) will be delivered to you as soon as   practicable following the end of each applicable fiscal year, but in no event   later than September 30 of each applicable fiscal year.
    
	
 
    	
 
    	
 
    
	
Forfeiture   of Unvested Performance Shares
    	
 
    	
In the event that your   Service terminates for any reason, except as provided above in the section   entitled “Termination without Cause, Good Reason or Non-Renewal of Employment   Agreement; Change of Control,” or in connection with a Deferred Vesting Date,   you will forfeit all of the Performance Shares that have not yet vested.
    
	
 
    	
 
    	
 
    
	
Withholding   Taxes
    	
 
    	
You agree, as a   condition of this grant, that you will make acceptable arrangements to pay   any withholding or other taxes that may be due as a result of vesting in   Performance Shares or your acquisition of Stock under this grant.  In the event that the Company determines   that any federal, state, local or foreign tax or withholding payment is   required relating to this grant, the Company will have the right to:  (i) require such payments from you;   (ii) withhold such amounts from other payments due to you from the   Company or any Affiliate; or (iii) withhold shares of Stock subject to   the Performance Shares granted pursuant to this Agreement in an amount equal   to the withholding or other taxes due.
    
	
 
    	
 
    	
 
    
	
Retention   Rights
    	
 
    	
Neither the Performance   Shares nor this Agreement give you the right to be retained by the Company   (or any parent, Subsidiaries or Affiliates) in any capacity.  The Company (and any parent, Subsidiaries   or Affiliates) reserve the right to terminate your Service at any time and   for any reason.
    
	
 
    	
 
    	
 
    
	
Forfeiture   of Rights
    	
 
    	
If you should take   actions in competition with the Company, the Company shall have the right to   cause a forfeiture of your rights, including, but not limited to: (i) a   forfeiture of any outstanding unvested Performance Shares, and (ii) with   respect to the period commencing twelve (12) months prior to your termination   of Service with the Company (A) a forfeiture of any proceeds received   upon a sale of shares acquired by you upon vesting of Performance Shares or   (B) a forfeiture of any shares of Stock acquired by you upon vesting of   the Performance Shares. Unless otherwise specified in an employment or other   agreement between the Company and you, you take actions in competition with   the Company if you directly or indirectly, own, manage, operate, join or   control, or participate in the ownership, management, operation or control   of, or are a proprietor, director, officer, stockholder, member, partner or   an employee or 
    

 

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agent of, or a   consultant to any business, firm, corporation, partnership or other entity   that is in the business of creating, financing, acquiring, investing in and managing   precious metal royalties, precious metal streams and similar interests. Under   the prior sentence, ownership of less than 1% of the securities of a public   company shall not be treated as an action in competition with the Company.
    
	
 
    	
 
    	
 
    
	
Shareholder   Rights
    	
 
    	
You, or your estate or   heirs, have no rights as a shareholder of the Company until the shares of   Stock relating to the vested Performance Shares have been issued.  Except as described in the Plan, no   adjustments are made for dividends or other rights if the applicable record   date occurs before your shares are issued.
    
	
 
    	
 
    	
 
    
	
Adjustments
    	
 
    	
In the event of a stock   split, a stock dividend or a similar change in the Stock, the number of   Performance Shares covered by this grant shall be adjusted (and rounded down   to the nearest whole number) if required pursuant to the Plan.  Performance Shares shall be subject to the   terms of the agreement of merger, liquidation or reorganization in the event   the Company is subject to such corporate activity.
    
	
 
    	
 
    	
 
    
	
Applicable   Law
    	
 
    	
This Agreement will be   interpreted and enforced under the laws of the State of Delaware, other than   any conflicts or choice of law, rule or principle that might otherwise   refer construction or interpretation of this Agreement to the substantive law   of another jurisdiction.
    
	
 
    	
 
    	
 
    
	
Section 409A
    	
 
    	
It is intended that   this Agreement comply with Section 409A of the Internal Revenue Code   (“Section 409A”) to the extent subject thereto, and, accordingly, to the   maximum extent permitted, the Agreement will be interpreted and administered   to be in compliance with Section 409A.    To the extent that the Company determines that you would be subject to   the additional taxes or penalties imposed on certain nonqualified deferred compensation   plans pursuant to Section 409A as a result of any provision of this   Agreement, such provision shall be deemed amended to the minimum extent   necessary to avoid application of such additional taxes or penalties.  The nature of any such amendment shall be   determined by the Company.  Notwithstanding   anything to the contrary in this Agreement or the Plan, to the extent   required to avoid accelerated taxation and penalties under Section 409A,   amounts that would otherwise be payable and benefits that would otherwise be   provided pursuant to this Agreement during the six-month period immediately   following your “separation from service” (as defined for purposes of   Section 409A, a “Separation from Service”) will instead be paid on the   first payroll date after the six-month anniversary of your Separation from   Service (or your death, if earlier).    Notwithstanding anything to the contrary in this Agreement, for   purposes of any provision of this Agreement providing for the settlement of   any shares of Stock upon or following a termination of employment or a   termination of Service that are considered “deferred compensation” under   Section 409A, references to your “termination of employment” or   “termination of Service” (and corollary terms) with the Company shall be   construed to refer to your Separation from Service.   Each installment of Performance Shares   that vests under this Agreement (if there is more than one installment) will   be considered one of a series of separate payments for purposes of   Section 409A.
    
	
 
    	
 
    	
 
    
	
Consent   to Electronic Delivery
    	
 
    	
The Company may choose   to deliver certain statutory materials relating to the Plan in electronic   form.  By accepting this grant you   agree that the Company may deliver the Plan prospectus and the Company’s   annual report to you in an electronic format.    If at any time you would prefer to receive paper copies of these   documents, as you are entitled to, the Company would be pleased to provide   copies.  Please contact the 
    

 

4

 

	
 
    	
 
    	
Secretary at (303)   573-1660 to request paper copies of these documents.
    
	
 
    	
 
    	
 
    
	
The   Plan
    	
 
    	
The text of the Plan is   incorporated in this Agreement by reference.    Certain capitalized terms used in this Agreement are defined in the   Plan, and have the meaning set forth in the Plan.

 

This Agreement and the   Plan constitute the entire understanding between you and the Company   regarding the Performance Shares.  Any   prior agreements, commitments or negotiations concerning the Performance   Shares are superseded.
    
	
 
    	
 
    	
 
    
	
Data   Privacy
    	
 
    	
In order to administer   the Plan, the Company may process personal data about you.  Such data includes but is not limited to   the information provided in this Agreement and any changes thereto, other   appropriate personal and financial data about you such as home address and   business addresses and other contact information, payroll information and any   other information that might be deemed appropriate by the Company to   facilitate the administration of the Plan.

 

By accepting this   award, you give explicit consent to the Company to process any such personal   data.  You also give explicit consent   to the Company to transfer any such personal data outside the country in   which you work or are employed, including, with respect to non-U.S. resident   optionees, to the United States, to transferees who shall include the Company   and other persons who are designated by the Company to administer the Plan.
    
	
 
    	
 
    	
 
    
	
Stock   Ownership Requirements
    	
 
    	
You are required to   continue to hold an aggregate of fifty percent (50%) of the (50%) of the   shares of Stock acquired by you pursuant to this Performance Share grant   together with all other shares of Stock acquired by you pursuant to any other   performance share grant made under the Plan (such 50% to be determined after   reducing the shares of Stock covered by this grant and all other performance   share grants made to you under the Plan by the number of shares of Stock   equal in value to the amount required to be withheld to pay taxes in   connection with this grant and such other performance share grants) until the   number of shares of Stock owned by you equals or exceeds         .    If the number of shares of Stock owned by you exceeds         , you may dispose of the shares of Stock   acquired pursuant to this Performance Share grant as long as you continue to   own at least        shares of Stock after the   disposition.
    

 

By signing the cover sheet of this Agreement, you acknowledge that you have received, read and understand the Plan and this Agreement, and agree to abide by and be bound by their terms and conditions.

 

5

 

	
Executive Officer
    	
Grant   No. 20        
    

 

Exhibit A

 

[Performance metrics and vesting schedules to be added each year.]

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