Document:

Exhibit 10.1

 

CONSULTING SERVICES AGREEMENT

BETWEEN

 

DEBRA W. STRUHSACKER

and

PERSHING GOLD CORPORATION

 

1. PARTIES TO AGREEMENT

 

This agreement is made effective as of
February 1, 2018 between Pershing Gold Corporation, (hereinafter referred to as “Company”) and Debra W. Struhsacker
(hereinafter referred to as “Consultant”) (the “Agreement”).

 

2. SCOPE OF SERVICES

 

Consultant agrees to provide environmental
permitting and government relations consulting services as requested in conjunction with the Company’s Relief Canyon Project
and other Nevada exploration and mining projects that the Company may evaluate or acquire from time to time. Consultant will assist
the Company in developing and implementing environmental permitting and government relations strategies to secure the necessary
permits for Phase II of the Relief Canyon Mine and achieving the enactment of the Pershing County Economic Development and Conservation
Act. Company undertakes to provide Consultant any and all facts and information relevant to the services as requested provided
under this Agreement. By mutual agreement and by written notification, this Scope of Services can be modified to include other
tasks as requested by the Company.

 

3. COMPENSATION

 

		A.	Retainer and Expenses. The Company agrees to pay Consultant a monthly retainer in the amount
of $15,000 per month for Consultant’s commitment to provide 60 hours per month of professional time. If Consultant devotes
more than 60 hours per month to the Relief Canyon Project or to other Company matters, the extra time will be billed at an hourly
rate of $250 per hour, according to the Schedule of Charges shown in Exhibit A. The Company agrees to reimburse Consultant for
the expenses listed on Exhibit A incurred in working on the Company’s projects. Consultant will invoice the Company for the
monthly retainer, any additional hourly charges, and expenses on a monthly basis. The retainer, additional hourly charges, and
expenses shall be paid by the Company to the Consultant in U.S. dollars within 30 days after receipt of an invoice. Payment delayed
past that time shall be subject to an interest charge of 1.5% per month or part thereof. In the event of any disagreement with
regard to any disputed expense, Consultant and Company shall make every reasonable effort to resolve any dispute between them in
a manner satisfactory to both parties.

 

    	 	- 1 -	 

     

    

 

		B.	Additional Compensation. The Company agrees that
Consultant shall be paid performance bonuses up to (i) $200,000 in cash and Stock Options, if Consultant successfully secures
the Bureau of Land Management’s (“BLM”) approval of the Plan of Operations Modification for Phase II of the
Relief Canyon Project (“Phase II Permit”) on or before 365 days after BLM initiates the NEPA process by publishing
the Notice of Intent/Public Scoping Notice for the Environmental Impact Statement for Phase II of the Relief Canyon Project in
the Federal Register to be paid as follows: (a) $50,000 cash plus $50,000 in Stock Options, if Consultant secures publication
of the Notice of Intent for the EIS on or before 45 federal business days after the BLM Winnemucca District Office deems the Plan
of Operations Modification application complete; and (b) $50,000 cash plus $50,000 in Stock Options if Consultant secures approval
of the Phase II Permit on or before 365 days after BLM publishes the Notice of Intent; and (ii) $100,000 in cash and Stock Options
($50,000 in cash plus $50,000 in Stock Options) if Consultant successfully secures Congressional and presidential approval of
the Pershing County Economic Development and Conservation Act on or before December 31, 2018. “Stock Options” as used
in this clause 3.B. shall mean five-year options to purchase shares of PGLC Common Stock at a strike price equal to the closing
price on the date of the grant.

 

4. AGREEMENT PERIOD

 

This Agreement is for the period February
1, 2018 through December 31, 2018. Upon mutual consent, this Agreement can be extended.

 

5. CONSULTANT’S EMPLOYMENT STATUS

 

The Company and Consultant agree that pursuant
to the Resignation, Waiver and Release dated January 29, 2018, Consultant has terminated her employee relationship with the Company
and commencing the effective date of this Agreement Consultant shall be working as an independent contractor. As defined in this
Agreement, Consultant’s responsibilities and scope of work are substantially different from those performed during Consultant’s
tenure as an employee. The Company will not be exercising day to day control or oversight. The Consultant will not engage an affiliate,
subcontractor, or subconsultant, or enter into any agreements for the purpose of carrying out Consultant’s scope of work
without prior written approval from the Company. Nothing in this Agreement shall be construed to make Consultant or any of its
employees or agents to be employees or agents of the Company. Consultant will be solely responsible for paying her own federal,
state, local, and social security taxes. Because the Consultant is providing services as an independent contractor and not an employee,
the Company will not withhold any taxes and Consultant shall indemnify, defend and hold Company harmless from any tax liability
or penalties related to Consultant’s services under this Agreement.

 

6. TERMINATION FOR CONVENIENCE

 

Company and Consultant reserve the right
to terminate this Agreement for any reason, at any time, upon 30 days written notice. Such termination shall take effect upon the
expiration of the 30-day period. During any 30 day notice period Consultant shall fully cooperate and take any actions necessary
to transition her responsibilities to the Consultant or employee designated by Company. In the event of termination, Company shall
pay Consultant for all services satisfactorily performed as of the date of termination in accordance with the rates set forth in
Exhibit A. Any monthly amounts due at the time of termination shall be pro-rated to the date of termination. Appropriate deductions
shall be made by Company for any amounts previously paid to Consultant and for any amounts that may be due Company. Company agrees
that it shall not terminate for convenience to avoid payment to Consultant of the additional compensation amounts described in
Section 4.B.

 

    	 	- 2 -	 

     

    

 

7. PROPRIETARY INFORMATION

 

Consultant agrees that, during and after
the term of this Agreement, it will not directly or indirectly disclose to any third person, nor use for its own benefit or the
benefit of anyone other than the Company, any inventions, discoveries, developments, trade secrets, techniques, methods, processes,
formulae, specifications, specialized knowledge, data, records, customer lists or data, or other confidential or proprietary information
or ideas of the Company, encountered or originated by Consultant and arising out of its rendering services to the Company, without
written permission from the Company.

 

8. OWNERSHIP OF MATERIALS AND DOCUMENTS

 

All studies, data, and documents prepared
by or for the Consultant, shall be the property of the Company and shall be furnished to the Company within 30 days following expiry
of this Agreement. The Consultant may retain a copy of all documents for recordkeeping purposes, but shall not use or permit the
use of any such documents for any other client, without first obtaining the Company's written consent.

 

9. LIABILITY, INDEMNITY, AND INSURANCE

 

As an independent contractor, Consultant
shall be responsible for its own operations in accordance with the following conditions:

 

		A.	No warranty or representation, either expressed or implied, is included or intended in Consultant’s
proposals, contracts, or reports.

 

		B.	Except for illegal, willful or grossly negligent conduct, Consultant shall not be liable to Company
or third parties for any damages hereunder, including any arbitration and/or attorney fees. Unless Consultant engages in gross
illegal, willful or grossly negligent conduct, Consultant shall have no liability for loss of use, profit, revenue, consequential,
indirect, special punitive or exemplary damages or environmental impairment.

 

		C.	Company agrees to indemnify, hold harmless, and defend Consultant from and against all claims for
liability arising under this Agreement including, without limitation, claims for bodily injury, property damage, and third-party
claims. However, Company shall not indemnify, hold harmless and defend any liability resulting from Consultant’s willful
misconduct or grossly negligent conduct.

 

		D.	Consultant shall maintain and, if requested, provide evidence of automobile and general liability
insurance for performance of services under this Agreement. Consultant’s insurance obligation shall be limited to $500,000.

 

    	 	- 3 -	 

     

    

 

10. MISCELLANEOUS

 

		A.	This Agreement constitutes the entire understanding and agreement of Consultant and the Company
with respect to the subject matter of this Agreement, and supersedes all prior and contemporaneous agreements, understandings,
inducements, or conditions, express or implied, written or oral, between the Company and Consultant. Notwithstanding the foregoing,
the parties acknowledge that they are entering into a Resignation, Waiver and Release dated January 29, 2018. Furthermore, nothing
in this paragraph supersedes the terms of the Restricted Stock Unit Agreements between the Company and Consultant dated February
3, 2017 or the Company’s 2013 Equity Incentive Plan. The parties hereby acknowledge and agree that Consultant’s resignation
from employment and continued provision of services hereunder shall not result in a separation of service from the
Company as defined in Section 409A of the Internal Revenue Code of 1986, as amended, and that Consultant is therefore not entitled
to payment or settlement of any Restricted Stock Units.

 

		B.	The failure of either party to enforce any of the provisions in this Agreement shall not be construed
to be a waiver of the right of such party to enforce such provision thereafter.

 

		C.	Notwithstanding termination of this Agreement, Consultant shall nonetheless continue to be bound
by the confidentiality provisions of this Agreement.

 

		D.	The laws of the state of Nevada, without regard to the application of conflicts of law principles,
shall govern this Agreement. Any legal proceedings arising from or related to this Agreement shall be exclusively heard in state
or federal court located in Nevada.

 

    	 	- 4 -	 

     

    

 

11. SIGNATURES

 

The following signatories are the authorized
representatives upon whose decisions and information each party may rely in performance of this Agreement. Any information or notices
required or permitted hereunder shall be deemed to have been sufficiently given to either party if given to these signatories or
to such other parties and/or address as they may subsequently designate.

 

This Agreement is effective the day and
year indicated in Article No. 1.

 

	Consultant:	Debra W. Struhsacker
	Address:	[Redacted]
	 	 
	Telephone:	[Redacted]
	E-mail:	[Redacted]

 

	Signature:	 	 	 
	 	Debra W. Struhsacker	 	Date  

 

	Company:	Pershing Gold Corporation
	 	 
	Address:	1658 Cole Boulevard, Building 6, Suite 210
	 	Lakewood, CO 80401
	 	Attention: Steve Alfers
	 	 
	Telephone:	(720) 974-7248 (office)
	Facsimile:	(720) 974-7249
	E-mail:	salfers@pershinggold.com

 

	Signature:	 	 	 
	 	Stephen D. Alfers  	 	Date
	 	Chairman, CEO and President	 	 

 

    	 	- 5 -	 

     

    

 

EXHIBIT A

 

SCHEDULE OF CHARGES

 

Professional Fees

 

	Monthly Retainer for 60 hours per month	$15,000/month
	Hourly rate for time spent in excess of 60 hours per month1	$250/hour

 

1 Consultant’s
professional fees will not exceed $15,000 per month for 60 hours of professional time without prior written authorization communicated
via electronic mail from the Company. Expert witness services will be charged at 1.5 times the normal hourly rate

 

	Expenses	At Cost

 

Expenses include out-of-town living expenses,
travel (airfare, lodging, meals, vehicle rentals, and mileage for use of personal vehicle), postage, shipping, long distance telephone,
facsimile, and other costs incurred with outside services or equipment

 

Invoices are payable within 30 days of
invoice date. Interest of 1.5% per month will be payable on any amount not paid within 30 days.

 

    	 	- 6 -Exhibit

January 31, 2018                                                                                                           Exhibit 10.1

Leslie C. Kass
44 Blackberry Dr.
Hudson, OH 44236

Dear Leslie:

The purpose of this letter is to formally offer you the position of President and Chief Executive Officer of Babcock & Wilcox Enterprises, Inc. (the “Company”), effective January 31, 2018 (the “Effective Date”). The position reports to the Board of Directors of the Company (the “Board”) and is located in Barberton, Ohio. 

The details of this offer of employment are as follows:

		
	1.
	Your annualized base salary will be $750,000, or $62,500 per month (paid one-half on the 15th and other half at the end of the month).

		
	2.
	You will continue to be eligible for participation in the Executive Incentive Compensation Plan at a target award of 100% of your base earnings.  The change in your target percentage for 2018 to 100% will be effective on the Effective Date.

		
	3.
	You also will continue to be eligible to receive equity grants under our long-term incentive program.  Your 2018 grant will be made during our annual grant cycle (typically during the first quarter of a year) and will be valued at $1,500,000. The equity grant will consist a mix of award types (e.g., restricted stock units, performance units, stock options, etc.) and on such terms and conditions as determined by the Compensation Committee of the Board.

In future years, you will be eligible to receive grants of equity during the annual grant cycle subject to market data and individual performance.  All long term incentive awards are subject to approval by the Compensation Committee of the Board.

		
	4.
	You will be considered for future merit/promotional salary increases based on your performance, relevant market data and practices established by the Compensation Committee of the Board.

		
	5.
	You will receive 160 hours of vacation per calendar year.

		
	6.
	You will continue to be eligible to participate in Company benefits as detailed in the individual plan documents, including The Babcock & Wilcox Company Thrift Plan, Defined 

Contribution Restoration Plan, Supplemental Employee Retirement Plan, Executive Severance Plan and all health and welfare benefit plans provided to our employees. You will also continue to participate in the Company sponsored financial planning services as currently provided by Ayco.

		
	7.
	You are currently a party to a Change-in-Control Agreement, which will be replaced with the Company’s standard Change-in-Control Agreement providing a 2.99 severance multiple.

		
	8.
	Your will continue to be subject to the Company’s stock ownership guidelines requiring executives to acquire and hold a minimum number of shares of B&W common stock within five years.  As a result of your position, you will be subject to a 5x multiple under those guidelines.

If you wish to accept our offer, please acknowledge your acceptance of this employment offer by signing and dating the original copy of this letter at the space provided below and scan the signed document back to Ben Bash, Senior Vice President, Human Resources at bhbash@babcock.com.

I very much look forward to your acceptance of our offer.

Best regards,
	
			
	/s/ E. James Ferland
	 
	January 31, 2018

	E. James Ferland
	 
	Date

	Chairman of the Board of Directors

           

I understand and accept the terms of the employment offer as set forth above.

	
			
	/s/ Leslie C. Kass
	 
	January 31, 2018

	Leslie C. Kass
	 
	Date

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