Document:

EX-10.8

 Exhibit 10.8 
  

 
  

			
	April 18, 2014	  	VIA E-MAIL

 Employee Name and Address 

Re: Salary Deferral Opportunity for April 2014 

Dear [Employee Name]: 
 As you know, we are
working on a strategic partner transaction with JXTC in China that would involve the sale of our interest in the Cameroon project. We are making progress, but it would take additional time to close and is subject to a variety of conditions and
approvals. 
 We are also working on possible transactions involving our other projects, as well as raising additional financing for the
company. 
 Under the circumstances, we are seeking to reduce the company’s expenditures.

As part of that effort, we are presenting to you and all other salaried employees a VOLUNTARY opportunity with respect to the April payroll,
as follows: 
 1. You may, if you choose to do so, defer one-half of your base salary compensation for the month of April 2014. If you
desire to defer more than this up to your full base salary compensation for April 2014, you are also welcome to do so (but in all events you must receive on a current basis enough of your base salary to cover mandatory tax and other withholdings as
estimated by the company in its sole discretion on a good-faith basis). 
 2. Any amount that you defer would be payable to you, along with
an additional payment equal to 200% of the amount deferred (the “Deferral Inducement Amount”), on the earlier of the following: (a) receipt of proceeds from JXTC or from any other entity from the sale of our interest in the
Cameroon project, (b) consummation of the acquisition of the Company by another company, (c) receipt of proceeds from a significant financing in an amount expected to be sufficient to cover the company’s cash requirement for at least
6 months, or (d) March 14, 2015. We presently anticipate that the sale event involving JXTC or any other entity, or any acquisition of the Company, or any financing event, if they occur, may not be for a number of months. 

I want to emphasize that the deferral opportunity described above (the “Deferral Opportunity”) is subject to your acceptance,
and is entirely VOLUNTARY.

  
 1 

 If you desire to accept the Deferral Opportunity, please complete the attached Salary Deferral
Election and return it to Shelia Short by 5:00 p.m. (MT), April 23, 2014. If you do not return the Salary Deferral Election to Shelia by that time, we will assume that you decided to not participate in the Deferral Opportunity. 

Thank you very much for your consideration. 
  

	
	Best regards,
	
	Michael Mason
	CEO

 Attachment: Salary Deferral Election Form 

  
 2 

 Salary Deferral Election 

I,                     
                     (print your name), hereby elect to take advantage of the “Deferral Opportunity” set forth in the
accompanying letter sent to me by Geovic Mining Corp. (the “Company”), dated April 18, 2014 (the “Letter”). My deferral election is as follows: 

1. I hereby elect to defer     % (print clearly the whole percentage of April 2014 salary you wish to defer) of my base salary for
the month of April 2014 (the “Deferral Amount”). I understand that the Deferral Amount can be no less than 50% of my base salary for the month and may be up to the full amount of my base salary for the month, but that in all events
I will receive on a current basis enough of my base salary for April 2014 to cover my mandatory tax and other withholdings as estimated by the Company in its sole discretion on a good-faith basis. 

2. I understand and agree that the Deferral Amount and the Deferral Inducement Amount (as defined in the Letter) would be paid at the time or times set forth
in the Letter. 
 3. I have read the Letter and reviewed the Deferral Opportunity in its entirety. I have been given the opportunity to consult with tax,
legal, and financial advisors prior to making this deferral election. 
 4. I am making this base salary deferral on a VOLUNTARY basis and of my own free
will. The Company has not pressured me in any way to make or refrain from making this deferral election. 
 5. I understand that the Deferral Amount and the
Deferral Inducement Amount will be paid from the general assets of the Company, and no cash or other property will be held in trust or set aside for me in any way. I understand further that I will have no special claim to any of the Company’s
assets as a result of this deferral election. My right to receive the amount I defer and to receive the Deferral Inducement Amount shall be no greater than a general, unsecured creditor of the Company, and will be wholly dependent on the
Company’s ability to pay such amounts as and when they come due. 
 6. I understand and agree that the Letter and this Salary Deferral Election
constitute an amendment to any employment agreement, offer letter, or similar agreement that I may have with the Company, and that the terms and conditions of the Letter and of this Salary Deferral Election supersede any inconsistent terms of such
other agreements. 
 7. I understand and agree that all other terms and conditions of any employment agreement, offer letter, or similar agreement that
I may have with the Company shall remain in full force and effect. 
 8. I understand and agree that the Letter, the Deferral Opportunity, and this
Salary Deferral Election are intended to be exempt from the requirements of the Employee Retirement Income Security Act of 1974, as amended, as well as the provisions of Section 409A of the Internal Revenue Code of 1986, as amended. I
understand and agree that I am solely responsible for any tax consequences that may apply to me based on the arrangement created by the Letter, the Deferral Opportunity, and this Salary Deferral Election. 

  
 -1- 

 This Salary Deferral Election is hereby executed by the Employee identified below, on the date
set forth below. 
  

			
	
	 
	Employee Signature
	
	 
	Print Employee Name
	
	 
	Date	 	
	
	Accepted and agreed to by the Company:
	
	Geovic Mining Corp.
		
	By:	 	 
		
	Title:	 	 
		
	Date:	 	 

  
 -2-EX-10.33

 Exhibit 10.33 

EXECUTION 
 AMENDMENT NO. 5 TO

 AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT 

Amendment No. 5, dated as of January 10, 2014 (this “Amendment”), among Credit Suisse First Boston Mortgage Capital
LLC (the “Buyer”), PennyMac Corp. (the “Seller”) PennyMac Mortgage Investment Trust and PennyMac Operating Partnership, L.P. (each, a “Guarantor” and collectively, the
“Guarantors”). 
 RECITALS 

The Buyer, the Seller and the Guarantors are parties to that certain Amended and Restated Master Repurchase Agreement, dated as of
June 1, 2013 (as amended by Amendment No. 1, dated as of August 29, 2013, Amendment No. 2, dated as of October 1, 2013, Amendment No. 3, dated as of December 27, 2013, and Amendment No. 4, dated as of
December 31, 2013, the “Existing Repurchase Agreement”; as further amended by this Amendment, the “Repurchase Agreement”) and the related Pricing Side Letter, dated as of June 1, 2013 (as amended from time
to time, the “Pricing Side Letter”). The Guarantors are parties to that certain Guaranty (the “Guaranty”), dated as of November 2, 2010, as the same may be further amended from time to time, by the Guarantors
in favor of Buyer. Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase Agreement and Guaranty, as applicable. 

The Buyer and Seller have agreed, subject to the terms and conditions of this Amendment, that the Existing Repurchase Agreement be amended to
reflect certain agreed upon revisions to the terms of the Existing Repurchase Agreement. As a condition precedent to amending the Existing Repurchase Agreement, the Buyer has required the Guarantors to ratify and affirm the Guaranty on the date
hereof. 
 Accordingly, the Buyer, the Seller and the Guarantors hereby agree, in consideration of the mutual promises and mutual
obligations set forth herein, that the Existing Repurchase Agreement is hereby amended as follows: 
 SECTION 1. Representations and
Warranties. Schedule 1 of the Existing Repurchase Agreement is hereby amended by adding the following clause (hhh) at the end thereof: 

(hhh) Qualified Mortgage. Notwithstanding anything to the contrary set forth in this Agreement, on and after
January 10, 2014 (or such later date as set forth in the relevant regulations), (i) prior to the origination of each Mortgage Loan, the originator made a reasonable and good faith determination that the Mortgagor had a reasonable ability
to repay the loan according to its terms, in accordance with, at a minimum, the eight underwriting factors set forth in 12 CFR 1026.43(c) and (ii) each Mortgage Loan is a “Qualified Mortgage” as defined in 12 CFR 1026.43(e). 

SECTION 2. Conditions Precedent. This Amendment shall become effective as of the date hereof (the “Amendment Effective
Date”), subject to the satisfaction of the following conditions precedent: 

  
 -1- 

 2.1 Delivered Documents. On the Amendment Effective Date, the Buyer shall
have received the following documents, each of which shall be satisfactory to the Buyer in form and substance: 
 (a) this
Amendment, executed and delivered by duly authorized officers of the Buyer, the Seller and the Guarantors; and 
 (b) such
other documents as the Buyer or counsel to the Buyer may reasonably request. 
 SECTION 3. Representations and Warranties. Seller
hereby represents and warrants to the Buyer that it is in compliance with all the terms and provisions set forth in the Repurchase Agreement on its part to be observed or performed, and that no Event of Default has occurred or is continuing, and
hereby confirms and reaffirms the representations and warranties contained in Section 13 of the Repurchase Agreement. 
 SECTION 4.
Limited Effect. Except as expressly amended and modified by this Amendment, the Existing Repurchase Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms. 

SECTION 5. Counterparts. This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of
which shall be an original and all of which taken together shall constitute one and the same instrument. 
 SECTION 6. Severability.
Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. 

SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF. 
 SECTION 8. Reaffirmation of Guaranty. The Guarantors hereby
ratify and affirm all of the terms, covenants, conditions and obligations of the Guaranty and acknowledge and agree that the term “Obligations” as used in the Guaranty shall apply to all of the Obligations of Seller to Buyer under the
Repurchase Agreement and related Program Agreements, as amended hereby. 
 [Remainder of page intentionally left blank] 

  
 -2- 

 IN WITNESS WHEREOF, the undersigned have caused this Amendment to be duly executed as of the date
first above written. 
  

			
	 Credit Suisse First Boston Mortgage Capital LLC, as Buyer

		
	By:	 	 /s/ Adam Loskove

		 	Name: Adam Loskove
		 	Title: Vice President
	
	PennyMac Corp., as Seller
		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title: Executive Vice President, Treasurer
	
	PennyMac Mortgage Investment Trust, as Guarantor
		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title: Executive Vice President, Treasurer
	
	PennyMac Operating Partnership, L.P., as Guarantor
	
	By: PennyMac GP OP, Inc., its General Partner
		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title: Executive Vice President, Treasurer

 Signature Page to Amendment No. 5 to Amended and Restated Master Repurchase Agreement

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