Document:

Exhibit
10.14

 

Certain
information has been omitted from the exhibit because it is both (i) not material and (ii) of the type that the registrant
customarily and actually treats as private or confidential. The omissions have been indicated by (“[***]”).

 

 

Dated
10 June 2020

 

 

 

 

 

 

SUPPLY
OF TECHNICAL SERVICES AGREEMENT

  

 

 

between

 

  

 

LIFEZONE
LIMITED

 

 

 

and

 

 

 

 

KELLTECHNOLOGY
SOUTH AFRICA (RF) PROPRIETARY LIMITED

  

     

     

    

  

Contents

 

 

Clause

 

	1.	Interpretation	2
	2.	Recordal
                                            of Termination of Original Agreement	7
	3.	Condition
                                            Precedent	7
	4.	Commencement
                                            and duration	8
	5.	Lifezone’s
                                            obligations	9
	6.	Internal
                                            Services	10
	7.	External
                                            Services	10
	8.	KTSA’s
                                            obligations	11
	9.	Charges
                                            and payment	12
	10.	Quality
                                            of services	16
	11.	Intellectual
                                            Property	18
	12.	Confidentiality	18
	13.	Limitation
                                            of liability	18
	14.	Termination	18
	15.	Force
                                            majeure	20
	16.	General	22
	17.	Rights
                                            of third parties	23
	18.	Notices	23
	19.	Dispute
                                            resolution	25
	20.	Governing
                                            law and jurisdiction	27

  

     

     

    

 

THIS
AGREEMENT is dated on 10 June 2020

 

Parties

 

		(1)	LIFEZONE
                                            LIMITED incorporated and registered in Mauritius with company number 081243 C2 GBL whose
                                            registered office is at 4th Floor, Ebene Skies, Rue de L’Institut, Ebene, Mauritius
                                            (Lifezone); and

 

		(2)	KELLTECHNOLOGY
                                            SOUTH AFRICA (RF) PROPRIETARY LIMITED,

 

		(3)	(Registration
                                            No. 2008/026628/07), a private limited liability company incorporated in accordance
                                            with the laws of South Africa, whose registered office is at 6 Ecofusion Block B, 324 Witch-Hazel
                                            Avenue, Highveld Park Extension 59, Gauteng, South Africa (KTSA).

 

Recitals

 

		(A)	Lifezone
                                            has granted KellTech Limited (Company No. 084564 C1/GBL) (“KellTech”)
                                            an exclusive licence to use intellectual property relating to Kelltechnology in SADC (the
                                            “KellTech Licence”).

 

		(B)	KellTech
                                            has granted to KTSA an exclusive licence to use the Kelltechnology in the Licensed Territory
                                            and the right to sublicense same on a non-exclusive basis in the Licensed Territory on the
                                            basis that such sub-licensees do not have the right to further sub-license the intellectual
                                            property (the “KTSA License”).

 

		(C)	The
                                            Parties have agreed that Lifezone will provide technology support services in relation to
                                            Kelltechnology to KTSA and the KTSA Group in SADC on the terms set out in this Agreement.

 

		(D)	Lifezone
                                            will procure that Keith Liddell, [***], and any other Lifezone Appointee will be
                                            the Lifezone personnel responsible for delivering the Services on behalf of Lifezone under
                                            this Agreement.

 

    	 	1	 

     

    

 

Agreed
terms

 

		1.	Interpretation

 

		1.1	Terms
                                            defined in the KellTech Licence and not defined herein have the same meaning when used in
                                            this Agreement, notwithstanding that such defined terms have not been defined in this Agreement.

 

		1.2	The
                                            definitions and rules of interpretation in this clause apply in this Agreement.

 

		(a)	Agreement
                                            means this agreement, together with the schedule thereto;

  

		(b)	Control
                                            means in relation to an Entity the ability of a person (the “Controller”),
                                            directly or indirectly, to ensure that the activities and business of an Entity (the “Controlled
                                            Entity”) are conducted in accordance with the wishes of the Controller, and the
                                            Controller shall be deemed to so control the Controlled Entity if the Controller owns, directly
                                            or indirectly, the majority of the issued share capital, members interest or equivalent equity
                                            and/or holds, directly or indirectly, the majority of the voting rights in the Controlled
                                            Entity or the Controller has the right to receive the majority of the income of that Controlled
                                            Entity on any distribution by it of all of its income or the majority of its assets on a
                                            winding up and in respect of a Controlled Entity that is a trust, “Control”
                                            means the ability of the Controller to control the majority of the votes of the trustees
                                            or to appoint the majority of the trustees or to appoint or change the majority of the beneficiaries,
                                            or such trust operates primarily for the benefit of such person and “Controlling”
                                            and “Controlled” shall be construed accordingly;

 

		(c)	Deed
                                            of Undertaking means a deed of undertaking in the same form and substance as the deed
                                            of undertaking attached hereto as Schedule 1;

 

		(d)	Effective
                                            Date means 1 January 2020;

 

    	 	2	 

     

    

 

		(e)	Entity
                                            means any association, business, close corporation, company, concern, enterprise, firm,
                                            fund, partnership, person, trust, undertaking, voluntary association or other similar entity
                                            whether corporate or unincorporated;

 

		(f)	External
                                            Services means the Services to be provided by Lifezone to KTSA as set out in Clause 7;

 

		(g)	External
                                            Services Proposal means a proposal to a third party made by KTSA as set out in Clause 7;

 

		(h)	External
                                            Services Fee has the meaning set out in clause 9.2;

 

		(i)	Fee
                                            means collectively, the Retainer Fee and the External Services Fee (if applicable);

 

		(j)	Governmental
                                            Entity means any national, state, municipal
                                            or local government (including any subdivision, court, administrative agency or commission
                                            or other authority thereof), or any governmental department, or any agency, regulator, court,
                                            entity, commission, board, ministry, bureau, locality or authority of any of the foregoing,
                                            or any quasi-governmental or private
                                            body exercising any binding regulatory or other governmental or quasi-governmental authority
                                            or function in South Africa;

   

		(k)	Initial
                                            Period has the meaning set out in clause 4.2;

 

		(l)	Internal
                                            Services means the Services to be provided by Lifezone to KTSA as set out in Clause 6;

 

		(m)	KTSA
                                            Board means the board of directors of KTSA

 

		(n)	KTSA
                                            Group means KTSA and any company in which KTSA (a) owns directly or indirectly a
                                            majority of the issued share capital and/or (b) holds directly or indirectly a majority
                                            of the voting rights (c) is entitled to receive the majority of any distribution (d) is
                                            entitled to receive the majority of its assets on a winding up and/or (e) any holding
                                            company which directly or indirectly Controls KTSA;

 

    	 	3	 

     

    

 

		(o)	KellTech
                                            Licence has the meaning set out in the recitals;

 

		(p)	KellTech
                                            Shareholders Agreement means the written shareholders agreement entered into between
                                            Lifezone, SPM, Orkid, KellTech and Liddell (as modified, novated, amended or supplemented
                                            from time to time);

 

		(q)	Kelltechnology
                                            means the hydrometallurgical process developed by Liddell for the extraction of PGMs
                                            that requires significantly less electrical energy than the current conventional matte smelting
                                            process;

 

		(r)	KTSA
                                            License has the meaning set out in the recitals;

 

		(s)	Law
                                            means any South African law (including all statutes and subordinated legislation), constitution,
                                            treaty, regulation, rule, ordinance, by-laws, principle of common law, order or decree of
                                            any Governmental Entity (including any judicial or administrative interpretation thereof)
                                            in force from time to time;

 

		(t)	Libor
                                            means the London interbank offered rate administered by the British Bankers Association
                                            (or any other person which takes over the administration of that rate) for US dollars for
                                            three months displayed on pages LIBOR01 or LIBOR02 of the Reuters screen (or any replacement
                                            Reuters page which displays that rate);

 

		(u)	Licensed
                                            Territory has the meaning ascribed thereto in the KTSA Licence (as modified, novated,
                                            amended or supplemented from time to time);

 

		(v)	Lifezone
                                            Appointee has the meaning set out in clause 6.1;

 

		(w)	Lifezone
                                            Expenses has the meaning set out in Clause 9.8;

 

		(x)	Orkid
                                            means Orkid S.a r.l., Registration No. B 167 777, a limited liability private company
                                            duly incorporated in Luxembourg;

 

    	 	4	 

     

    

 

		(y)	Parties
                                            means KTSA and Lifezone and “Party” means any one of them as the context
                                            requires;

 

		(z)	Retainer
                                            Fee has the meaning set out in clause 9.1;

 

		(aa)	SADC
                                            means the Southern African Development Community excluding Mauritius, comprising Angola,
                                            Botswana, the Democratic Republic of Congo, Lesotho, Malawi, Madagascar, Mozambique, Namibia,
                                            Seychelles, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe;

 

		(bb)	Services
                                            means the technology support services to be provided by Lifezone to the KTSA Group in
                                            the Licensed Territory under this Agreement in order to ensure that KTSA is able to maximise,
                                            for its own benefit, the exploitation of the Kelltechnology licensed by KellTech to it under
                                            the KTSA Licence, including, without limitation:

 

		(i)	assisting
                                            in the marketing of Kelltechnology to producers of PGMs;

 

		(ii)	assisting
                                            with test work and managing studies in the implementation of Kelltechnology;

 

		(iii)	engineering
                                            development, plant design and research and development in relation to Kelltechnology;

 

		(iv)	management
                                            and administration of KTSA and any member of the KTSA Group;

 

		(v)	effectively
                                            transferring knowledge and know-how in respect of Kelltechnology and any Intellectual Property
                                            and/or improvements thereto to KTSA, any member of the KTSA Group and/or any person or Entity
                                            to whom KTSA sub-licenses any rights granted to it under the KTSA Licence,

 

		(vi)	together
                                            with any other ancillary services which KTSA may, acting reasonably, request Lifezone to
                                            provide to it, any member of the KTSA Group and/or any person or Entity
                                            to 

 

    	 	5	 

     

    

 

	 	 	whom
KTSA sublicenses any of the rights granted to it under the KTSA
Licence and which ancillary services Lifezone acting reasonably agrees to provide; and
	 	 	 
		(vii)	External
                                            Services, if applicable;

 

		(cc)	South
                                            Africa means the Republic of South Africa;

 

		(dd)	SPM
                                            means Sedibelo Platinum Nines Limited, registration number 5440, a company incorporated
                                            in Guernsey having its registered address at 11 New Street, St Peter Port, Guernsey, GY1
                                            2PF.

 

		1.3	Clause,
                                            schedule and paragraph headings are for reference purposes and convenience only and shall
                                            not affect the interpretation of this Agreement.

 

		1.4	If
                                            any provision in a definition is a substantive provision conferring rights or imposing obligations
                                            on any Party, notwithstanding that it is only in the definition clause, effect shall be given
                                            to it as if it were a substantive provision in the body of the Agreement.

 

		1.5	A
                                            person includes a natural person, corporate or unincorporated body (whether or not having
                                            separate legal personality).

 

		1.6	The
                                            schedules form part of this Agreement and shall have effect as if set out in full in the
                                            body of this Agreement. Any reference to this Agreement includes the schedules.

 

		1.7	Terms
                                            defined in this Agreement shall bear the same meanings in schedules to this Agreement to
                                            the extent to which they do not themselves contain their own definitions.

 

		1.8	Words
                                            in the singular shall include the plural and vice versa.

 

		1.9	The
                                            rule of construction that a contract should be interpreted against the Party responsible
                                            for drafting or preparation of the contract, shall not apply to this Agreement. A reference
                                            to writing or written includes faxes but not e-mail.

 

    	 	6	 

     

    

 

		1.10	Where
                                            the words include(s), including or in particular are used in this Agreement, they are deemed
                                            to have the words without limitation following them. Where the context permits, the words
                                            other and otherwise are illustrative and shall not limit the sense of the words preceding
                                            them.

 

		1.11	Any
                                            obligation in this Agreement on a person not to do something includes an obligation not to
                                            agree, allow, permit or acquiesce in that thing being done.

 

		1.12	References
                                            to clauses and schedules are to the clauses and schedules of this Agreement.

  

		1.13	Any
                                            reference in this Agreement to any other agreement or document shall be construed as reference
                                            to such agreement or document as same may have been, or may from time to time be, amended,
                                            varied, novated or supplemented.

 

		2.	Recordal
                                            of Termination of Original Agreement

 

		2.1	On
                                            or about 16 April 2014, Lifezone, Orkid and KellTech signed the supply of technical
                                            services agreement (the “Original Agreement”).

 

		2.2	The
                                            Parties hereby record and acknowledge that the Original Agreement was terminated on 31 December 2018
                                            and from such date until the Effective Date, Lifezone has continued to provide the Services
                                            to KellTech. Accordingly, from the Effective Date, this Agreement shall exclusively govern
                                            the relations of the Parties in respect of the supply of the Services by Lifezone to KTSA

 

		3.	Condition
                                            Precedent

 

		3.1	The
                                            whole of this Agreement, other than the provisions of this clause, clause 1 (Interpretation)
                                            and clauses 12 (Confidentiality) to 20 (Governing law and jurisdiction), which shall be of
                                            immediate force and effect on the date hereof, is subject to the fulfilment of the following

 

    	 	7	 

     

    

 

	 	suspensive
                                            condition by no later than 30 June 2020 Keith Liddell has entered into a Deed of
                                            Undertaking.
	 	 
	3.2	The
                                            Parties undertake in favour of one another to, forthwith after the date hereof, use their
                                            respective reasonable endeavours and co-operate in good faith to procure the fulfilment of
                                            the suspensive condition, to the extent that it is within their power to do so, as expeditiously
                                            as reasonably possible.

 

		3.3	The
                                            suspensive condition in 3.1 has been inserted for the benefit of KTSA who will be entitled
                                            to waive fulfilment of same by written agreement prior to the expiry of the relevant time
                                            period set out in clause 3.1 (or extended in accordance with clause 3.4).

 

		3.4	Unless
                                            the suspensive condition has been fulfilled or waived by not later than the date for fulfilment
                                            thereof set out in clause 3.1 (or such later date or dates as may be agreed in writing
                                            between the Parties), the provisions of this Agreement, save for this clause, clause 1
                                            and clauses 12 (Confidentiality) to 20 (Governing law and jurisdiction), which will remain
                                            of full force and effect, will never become of any force or effect and none of the Parties
                                            will have any claim against the other Party in terms hereof or arising from the failure of
                                            the suspensive condition, save for any claims arising from a breach of clause 3.2, as
                                            well as any breach of any of the provisions of this Agreement which became effective on the
                                            date hereof.

 

		4.	Commencement
                                            and duration

 

		4.1	Lifezone
                                            shall provide the Services to KTSA and the KTSA Group on the terms and conditions of this
                                            Agreement from the Effective Date.

 

		4.2	Lifezone
                                            shall provide the Services for a period of three years commencing on the Effective Date and
                                            terminating on the 3rd anniversary of the Effective Date (the “Initial Period”),
                                            and after that, shall continue to provide the Services unless this Agreement:

 

    	 	8	 

     

    

 

		(a)	is
                                            terminated by either Party by giving the other not less than six months’ notice, such
                                            notice not to expire before the expiry of the Initial Period; or

 

		(b)	is
                                            terminated in accordance with clause 14.

 

		5.	Lifezone’s
                                            obligations

 

		5.1	Lifezone
                                            shall:

 

		(a)	provide
                                            such Services to KTSA, other members of the KTSA Group and/or any person or Entity to whom
                                            KTSA sublicenses any of the rights granted to it under the KTSA Licence in the Licensed Territory
                                            as KTSA may request, and which Entity, Lifezone acting reasonably consents to;

 

		(b)	obtain
                                            and maintain all necessary licences and consents and comply with all relevant legislation
                                            in relation to the Services;

 

		(c)	observe
                                            all health and safety rules and regulations and any other reasonable security requirements
                                            that apply at any of the KTSA Group premises and that have been communicated to it under
                                            clause 5.1(d) provided that it shall not be liable under this Agreement if, as
                                            a result of such observation, it is in breach of any of its obligations under this Agreement;

 

		(d)	notify
                                            KTSA in writing as soon as it becomes aware of any health and safety hazards or issues which
                                            arise: (i) in relation to the Services; and/or (ii) at any premises of any member
                                            of the KTSA Group;

 

		(e)	co-operate
                                            with KTSA in all matters relating to the Services; and

  

		(f)	generally,
                                            do all such things necessary and incidental to the provision of the Services as may be required
                                            by any member of the KTSA Group, acting reasonably.

 

    	 	9	 

     

    

 

		6.	Internal Services

 

		6.1	The Internal Services are Services which will specifically be provided to KTSA and will be provided by
suitably qualified, skilled and experienced employees and consultants nominated by Lifezone and approved in writing by KTSA acting reasonably
(each a Lifezone Appointee). The Lifezone Appointees will be:

 

		(a)	Keith Liddell;

 

		(b)	[***]; and

 

		(c)	any other suitably qualified, skilled and experienced employees and consultants nominated by Lifezone
and approved in writing by KTSA acting reasonably (each a “Lifezone Consultant”).

 

		6.2	Lifezone will procure that Keith Liddell and [***] will remain Lifezone Appointees until such
time as: (a) KTSA notifies Lifezone, in writing, that either and/or both of them are no longer required to be a Lifezone Appointee
(which notification KTSA shall be entitled to furnish at any time); or (b) this Agreement is terminated.

 

		6.3	Lifezone will assist KTSA in preparation of proposals to third parties and associated budgets for the
provision of External Services by KTSA to third parties (“External Services Proposal”) and such assistance is deemed
Internal Services.

 

		7.	External Services

 

		7.1	In certain circumstances KTSA will render services directly to third parties and it will subcontract some
of these services (which services will largely be akin to the Services) to Lifezone (“External Services”).

 

		7.2	The External Services will be provided to KTSA by Lifezone Appointees.

 

		7.3	An External Services Proposal made by KTSA to a third party will include Lifezone’s estimate of
hours to be expended by Lifezone Appointees to provide the External Services on behalf of KTSA and related Lifezone 

 

    	 	10	 

     

    

 

	 	Expenses for provision
of Lifezone’s External Services and are deemed to be approved by KTSA on submission of the External Services Proposal by KTSA to
the third party. Prior to an External Service Proposal being made
by KTSA to a third party, Lifezone shall include in its proposal to KTSA provision for all Lifezone Expenses in order for the Lifezone
Expense contemplated in all External Services Proposals made by KTSA to be reimbursed by the third party to KTSA, who shall thereafter
reimburse Lifezone in accordance with Clause 9.5.

 

		8.	KTSA’s obligations

 

		8.1	KTSA shall:

 

		(a)	co-operate with Lifezone in all matters relating to the Services and do such things as may be reasonably
necessary to enable Lifezone to deliver the Services;

 

		(b)	provide Lifezone, its agents, subcontractors, consultants and employees, in a timely manner and at no
charge, reasonable access to the KTSA Group’s premises, office accommodation, data and other facilities to the extent necessary
for the performance of Services, provided that KTSA reserves the right to (acting reasonably) refuse any Lifezone Appointees access to
the KTSA Group’s premises at any time;

 

		(c)	provide, in a timely manner, such information as Lifezone may reasonably require for the provision of
the Services;

 

		(d)	obtain and maintain all necessary licences and consents and comply with all relevant legislation in relation
to its operations;

 

		(e)	be responsible (at its own cost) for preparing and maintaining the relevant premises for the supply of
the Services, including identifying, monitoring, removing and disposing of any hazardous materials from any of its premises in accordance
with all applicable laws, before and during the supply of the Services at those premises;

 

    	 	11	 

     

    

 

		(f)	inform Lifezone of all health and safety rules and regulations and any other reasonable security
requirements that apply at any of the KTSA Group’s premises;

 

		(g)	ensure that all equipment, systems or facilities of the KTSA Group and used directly or indirectly in
the supply of the Services is in good working order and suitable for the purposes for which it is used in relation to the Services and
conforms to all applicable standards and requirements in SADC; and

 

		(h)	make payment against Lifezone’s invoices for Fees in accordance with clauses 9.4, 9.5, 9.6 and 9.7,
and Lifezone Expenses in accordance with clause 9.8.

 

		8.2	If Lifezone’s performance of its obligations under this Agreement is prevented or delayed by any
act or omission of KTSA, its agents, subcontractors, consultants or employees, Lifezone shall not be liable for any costs, charges or
losses sustained or incurred by KTSA that arise directly or indirectly from such prevention or delay, provided that Lifezone shall only
be relieved from performing and/or delaying its obligations under this Agreement to the extent that the aforesaid act or omission restricts
or precludes the performance of the Services and Lifezone has, promptly after the actual or potential non-compliance has come to its attention,
notified KTSA thereof in writing.

 

		9.	Charges and payment

 

		9.1	Internal Services Fees

 

For the period of twelve months commencing
on the Effective Date and terminating on the first anniversary of the Effective Date, in consideration of the provision of the Internal
Services by Lifezone, KTSA shall pay Lifezone a fixed fee of US$[***] per calendar month (exclusive of VAT, if applicable) (“Retainer
Fee”) in respect of the Services rendered by Lifezone contemplated in clause 6.1. For the avoidance of doubt, KTSA shall
only ever be liable to Lifezone in any calendar month for an amount of US$[***] (exclusive of VAT, if applicable) plus any amount payable

 

    	 	12	 

     

    

 

for the External Services as contemplated in clause 9.2. Notwithstanding the aforesaid, by no later than 2 weeks prior to the commencement
of a quarter, the Parties shall meet to discuss the potential impact of COVID-19 on SPM’s mining operations. At such meeting, the
Parties shall use their commercially reasonable endeavours to agree on an appropriate amendment (if any) to the Retainer Fee which shall
be applicable for the following quarter. Should the Parties fail to reach agreement prior to the commencement of the following quarter
(or such later date as agreed between the Parties in writing), then for the duration of the following quarter:

 

		(a)	Lifezone will not be obliged to provide the Services to KTSA;

 

		(b)	KTSA will not be obliged to pay Lifezone any amounts under this Agreement other than amounts which became
due, owing and payable under this Agreement prior to the commencement of such quarter; and neither Party shall be liable for a failure
to perform any of its obligations under this Agreement.

 

		9.2	External Services Fees

 

		(a)	In relation to such External Services rendered by the following persons, KTSA will pay to Lifezone (unless
otherwise agreed between the Parties in writing) the hourly rates charged by KTSA to the external party; the External Services hourly
rates being at least:

 

		(i)	Keith Liddell - US$[***] per hour;

 

		(ii)	[***] - US$[***] per hour; and

 

		(iii)	Lifezone Consultants - US$[***] per hour.

 

		(b)	Prior to KTSA submitting any External Services Proposal to a third party, KTSA shall agree with Lifezone
the External Services Fees.

 

		(c)	KTSA will submit any External Services Proposal on the basis that KTSA will recover from any third party
an amount which is equal to 

 

    	 	13	 

     

    

 

	 	 	or greater than Lifezone’s estimate of External Services Fees as a result of the estimated hours to
be expended by Lifezone Appointees to provide the External Services and, for the avoidance of doubt, to the extent that there are profits
made by KTSA which are in excess of the External Services Fees, then although there would be no additional fees payable by KTSA to Lifezone
under this Agreement.

 

		9.3	On each anniversary of the Effective Date, the Retainer Fee and External Services Fee shall be revised
and shall be increased at 3% per annum.

 

		9.4	At the end of each calendar quarter, Lifezone shall provide to KTSA an invoice specifying the Retainer
Fee for the following quarter. KTSA shall pay the Retainer Fee quarterly in advance on the first business day of each calendar quarter.

 

		9.5	KTSA shall notify Lifezone within five days after KTSA has invoiced a third party in respect of External
Services and related Lifezone Expenses (where relevant). KTSA shall notify Lifezone as soon as possible after the relevant third party
has paid the invoice and following such notification, Lifezone shall provide KTSA an invoice specifying the External Services Fee and
related Lifezone Expenses and KTSA shall pay such invoice no later than five days following receipt of Lifezone’s invoice. KTSA
shall have no liability to Lifezone for External Service Fees and/or related Lifezone Expenses until it has been paid same by the relevant
third party. KTSA will use all reasonable endeavours to collect such amounts as soon as is reasonably practicable. Lifezone will have
no obligation to continue to provide External Services to KTSA for a particular third
party whilst an invoice for prior External Services provided remains unpaid.

 

		9.6	KTSA shall pay to Lifezone the outstanding Internal Services Fees for the period 1 January 2020
to 30 June 2020 within 5 days of execution of this Agreement.

 

    	 	14	 

     

    

 

		9.7	The Fees and Lifezone Expenses shall be paid in full in US$ in cleared funds (without deduction or set-off)
to the bank account detailed below or as otherwise nominated in writing by Lifezone:

 

	Beneficiary Bank	 	[***]
	 	 	 
	Swift Code	 	[***]
	 	 	 
	IBAN Number	 	[***]
	 	 	 
	For further credit to	 	Lifezone Limited

 

		9.8	KTSA shall promptly reimburse Lifezone in respect of the reasonable costs of hotel, subsistence, travelling,
communications and any other reasonable ancillary expenses reasonably incurred by any Lifezone Appointee or any other individual whom
Lifezone engages in connection with the Services, the cost of any materials and the cost of services reasonably and properly provided
by third parties and required by Lifezone for the supply of the Services (“Lifezone Expenses”), provided that Lifezone
has either obtained the prior written approval of KTSA or such Lifezone Expenses which have been approved by the KTSA Board or in terms
of any applicable KTSA budget specifically in respect of such Lifezone Expenses.

 

		9.9	Without prejudice to any other right or remedy that it may have, if KTSA fails to pay Lifezone the Fee
on the date upon which the Fee is due, owing and payable by KTSA to Lifezone, Lifezone may:

 

		(a)	charge interest on such sum from the due date for payment at Libor (applicable during the relevant quarter
in which payment of such due sum is outstanding) plus a margin of [***]% accruing on a daily basis until payment is made, whether before
or after any judgement, and KTSA shall pay the interest immediately on demand. The said interest shall be compounded quarterly. The 

 

    	 	15	 

     

    

 

	 	 	interest
rate will be calculated on a basis of a 360 day year for actual days lapsed; and

 

		(b)	suspend all Services until payment has been made in full.

 

		9.10	All sums accrued but not yet payable to Lifezone under this Agreement shall become due immediately on
its termination, despite any other provision. This clause 9.10 is without prejudice to any right to claim for interest under the
law or any such right under this Agreement.

 

		10.	Quality of services

 

		10.1	Lifezone hereby warrants at the Effective Date and covenants to KTSA for the entire duration of this Agreement
that:

 

		(a)	it has the expert skill and knowledge to provide the Services;

 

		(b)	it will perform the Services professionally, in a timely manner and with reasonable care and skill and
in accordance with generally recognised commercial practices and standards;

 

		(c)	the Services will conform with all descriptions and specifications reasonably required by any member of
the KTSA Group; and

 

		(d)	the Services will be provided in accordance with all applicable legislation, from time to time in force,
and Lifezone will inform KTSA as soon it becomes aware of any changes in any such legislation and/or any breach by it of such legislation.

 

		10.2	Lifezone hereby warrants at the Effective Date that:

 

		(a)	it is not aware (having made all reasonable enquiries) of any fact, matter or circumstance which may hinder
it from performing the Services; and

 

		(b)	it is not aware (having made all reasonable enquiries) of any fact, matter or circumstance which is likely
to result in it not being able to maintain the consents, licences, permits, registrations, 

 

    	 	16	 

     

    

 

	 	 	approvals and other authorities required by
Lifezone in order to provide the Services after the Effective Date.

 

		10.3	Lifezone covenants to KTSA for the entire duration of this Agreement that:

 

		(a)	it will inform KTSA should it become aware of any fact, matter or circumstance:

 

		(i)	which may hinder it or any Lifezone Appointee from performing the Services; and/or

 

		(ii)	relating to any breach by any Lifezone Appointee of any term of the Deed of Undertaking signed by such
Lifezone Appointee;

 

		(b)	it will inform KTSA should it become aware of any fact, matter or circumstance which is likely to result
in it not being able to maintain the consents, licences, permits, registrations, approvals and other authorities required by: (i) Lifezone
in order to provide the Services; and/or (ii) the operations of any member of the KTSA Group;

 

		(c)	it will forthwith disclose to KTSA all facts and circumstances within its knowledge which would reasonably
be likely to be material to: (i) any member of the KTSA Group in relation to the appointment of Lifezone and/or any Lifezone Appointee
to perform the Services; and/or (ii) Kelltechnology and/or the Intellectual Property; and

 

		(d)	it will provide the Services and to this end shall use its reasonable endeavours:

 

		(i)	to procure that each Lifezone Appointee acts with integrity and exercises all reasonable skill, care and
diligence in providing the Services;

 

		(ii)	to protect and promote the business and interests of the KTSA

 

    	 	17	 

     

    

 

		10.4	The provisions of this clause 10 shall survive any performance, acceptance or payment pursuant to
this Agreement and shall extend to any substituted or remedial Services provided by Lifezone.

 

		11.	Intellectual Property

 

The provisions of clause 11 (Improvements
to Intellectual Property) of the KTSA Licence will apply to this Agreement, with such changes as are required by the context.

 

		12.	Confidentiality

 

The provisions of clause 23 (Confidentiality)
of the KellTech Licence will apply to this Agreement, with such changes as are required by the context.

 

		13.	Limitation of liability

 

The maximum aggregate liability of Lifezone
with respect to any and all claims under this Agreement in any consecutive twelve month period, whether in contract, tort (including
negligence), for breach of statutory duty, or otherwise, shall be limited in respect of all claims (connected or unconnected) in any
such consecutive twelve month period, to the equivalent of the total Fees actually paid by KTSA to Lifezone in the preceding twelve months,
provided that the maximum aggregate liability of Lifezone with respect to any and all claims under this Agreement arising within the
twelve month period of the Effective Date shall be limited to the aggregate of Fees paid by KellTech to Lifezone pursuant to the original
agreement and/or oral arrangement.

 

		14.	Termination

 

		14.1	Without prejudice to any other rights or remedies which the Parties may have, either Party may terminate
this Agreement without liability to the other immediately on giving notice to the other if:

 

		(a)	the KTSA Licence is terminated for any reason;

 

    	 	18	 

     

    

 

		(b)	the other Party fails to pay any amount due under this Agreement on the due date for payment and remains
in default not less than 14 days after being notified in writing to make such payment other than in instances where there is a bona fide
dispute between the Parties as to whether the Party claiming payment has discharged its reciprocal obligations pursuant to which such
payment is to be made and the other Party withholds payment of fees relevant to such dispute pending the resolution of such dispute; or

 

		(c)	the other Party commits a material breach of any of the material terms of this Agreement and (if such
a breach is remediable) fails to remedy that breach within 30 days of that Party being notified in writing of the breach; or

 

		(d)	the other Party suspends, or threatens to suspend, payment of its debts, is unable to pay its debts as
they fall due, admits inability to pay its debts; or

 

		(e)	the other Party commences negotiations with all, or any class of, its creditors with a view to rescheduling
any of its debts, or makes a proposal for, or enters into any compromise or arrangement with, its creditors other than for the sole purpose
of a scheme for a solvent amalgamation of that Party with one or more other companies, or the solvent reconstruction of that Party; or

 

		(f)	an order is made, for or in connection with the winding up of the other Party other than for the sole
purpose of a scheme for a solvent amalgamation of that Party with one or more other companies, or the solvent reconstruction of that Party;
or

 

		(g)	an administrator is appointed over the other Party; or

 

		(h)	a floating charge holder over the material assets of the other Party has appointed an administrative receiver;
or

 

		(i)	a receiver is appointed over the material assets of the other Party; or

 

    	 	19	 

     

    

 

		(j)	any event occurs with respect to the other Party in any jurisdiction to which it is subject that has an
effect equivalent or similar to any of the events mentioned in clause 14.1(e) to 14.1(i) inclusive; or

 

		(k)	the other Party suspends or ceases to carry on all or a substantial part of its business.

 

		14.2	Without prejudice to any other rights or remedies which KTSA may have, KTSA may terminate this Agreement
without liability to Lifezone immediately on giving notice to Lifezone if Lifezone ceases to own shares in KellTech.

 

		14.3	On termination of this Agreement for any reason:

 

		(a)	KTSA shall immediately pay to Lifezone all amounts due, owing and payable under this Agreement;

 

		(b)	the accrued rights, remedies, obligations and liabilities of the Parties as at termination shall not be
affected, including the right to claim damages in respect of any breach of the Agreement which existed at or before the date of termination;
and

 

		(c)	clauses which expressly or by implication have effect after termination shall continue in full force and
effect, including the following clauses: clause 10 (Quality of services), clause 11 (Intellectual Property), clause 12
(Confidentiality), clause 13 (Limitation of liability), clause 14.3, clause 18 (Notices), clause 19 (Dispute resolution),
and clause 20 (Governing law and jurisdiction).

 

		15.	Force majeure

 

		15.1	A Party is not liable for a failure to perform any of its obligations under this Agreement in so far as
it proves:

 

		(a)	that the failure was due to an impediment beyond its control;

 

    	 	20	 

     

    

 

		(b)	that it could not reasonably be expected to have taken the impediment and its effects upon the Party’s
ability to perform into account at the time of the conclusion of the contract; and

 

		(c)	that it could not reasonably have avoided or overcome the impediment or at least its effects.

 

		15.2	An impediment in clause 15.1 may result from events such as the following, this enumeration not being
exhaustive:

 

		(a)	war, whether declared or not, civil war, civil violence, riots and revolution, acts of piracy, acts of
sabotage;

 

		(b)	natural disasters such as violent storms, cyclones, earthquakes, tidal waves, floods, destruction by lightening;

 

		(c)	explosions, fire, destruction of machines, of factories and of any kind of installations;

 

		(d)	boycotts, strikes and lock-outs of all kinds, go-slow, occupation of factories and premises, and work
stoppages;

 

		(e)	acts of authority, whether lawful or unlawful, apart from acts for which the Party seeking relief has
assumed the risk by virtue of any other provisions of this Agreement; and apart from the matters mentioned in clause 15.3.

 

		15.3	For the purposes of clause 15.1 “impediment” does not include lack of authorisations,
of licenses, or permits or of approvals necessary for the performance of the licence.

 

		15.4	Relief from liability for non-performance by reason of the provisions of clause 15 shall commence
on the date upon which the Party seeking relief gives notice of the impediment relied upon and shall terminate upon the date upon which
such impediment ceases to exist; provided that if such impediment continues for a period of more than 6 (six) months either Party shall
be entitled to terminate this Agreement by written notice to the other Party.

 

    	 	21	 

     

    

 

 

		16.	General

 

		16.1	No variation of this Agreement shall be valid unless it is in writing and signed by or on behalf of each
of the Parties.

 

		16.2	A waiver of any right or remedy under this Agreement is only effective if given in writing and shall not
be deemed a waiver of any subsequent breach or default. A failure or delay by a Party to exercise any right or remedy provided under this
Agreement or by law shall not constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict any further
exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under this Agreement or by
law shall preclude or restrict the further exercise of any such right or remedy.

  

		16.3	If any court or competent authority finds that any provision of this Agreement (or part of any provision)
is invalid, illegal or unenforceable, that provision or part-provision shall, to the extent required, be deemed to be deleted, and the
validity and enforceability of the other provisions of this Agreement shall not be affected.

 

		16.4	This Agreement constitutes the entire agreement between the Parties in relation to its subject matter
and supersedes and extinguishes all previous drafts, arrangements, understandings or agreements between them, whether written or oral,
relating to the subject matter of this Agreement.

 

		16.5	Each Party acknowledges that, in entering into this Agreement, it does not rely on, and shall have no
remedies in respect of, any representation or warranty (whether made innocently or negligently) that is not set out in this Agreement.
Each Party agrees that its only liability in respect of those representations and warranties that are set out in this Agreement (whether
made innocently or negligently) shall be for breach of contract

 

		16.6	Nothing in this clause shall limit or exclude any liability for fraud.

 

    22

    

    

 

		16.7	Neither Party shall, without the prior written consent of the other, assign, transfer, charge, mortgage,
subcontract or deal in any other manner with all or any of its rights or obligations under this Agreement.

 

		16.8	Nothing in this Agreement is intended to, or shall operate to, create a partnership between the Parties,
or to authorise either Party to act as agent for the other, and neither Party shall have authority to act in the name or on behalf of
or otherwise to bind the other in any way (including the making of any representation or warranty, the assumption of any obligation or
liability and the exercise of any right or power).

 

		17.	Rights of third parties

 

A person who is not a Party to this Agreement
shall not have any rights under or in connection with it.

 

		18.	Notices

 

		18.1	A notice or communication given to a Party under or in connection with this Agreement:

 

		(a)	shall be in writing;

 

		(b)	shall be signed by or on behalf of the Party giving it;

 

		(c)	shall be sent for the attention of the person, at the address or fax number specified in this clause (or
to such other address, fax number or person as that Party may notify to the other, in accordance with the provisions of this clause);
and

 

		(d)	shall be:

 

		(i)	delivered personally;

 

		(ii)	sent by commercial courier;

 

		(iii)	sent by fax; or

 

		(iv)	sent by pre-paid first-class post or recorded delivery.

 

    23

    

    

 

		18.2	The addresses for service of a notice are as follows:

 

		(a)	Lifezone:

 

		(i)	Physical:	[***]

 

		(ii)	Postal:	[***]

 

		(iii)	Tel:	[***]

 

		(iv)	Fax:	[***]

 

		(v)	Attention:	[***]

 

		(vi)	With a copy to:	[***]

 

		(vii)	And to:	[***]

 

		(b)	KTSA

 

		(i)	Physical:	[***]

 

		(ii)	Postal:	[***]

 

		(iii)	Fax:	[***]

 

		(iv)	for the attention of:	[***]

 

    24

    

    

 

		18.3	If a notice or other communication has been properly sent or delivered in accordance with this clause,
it will be deemed to have been received as follows:

 

		(a)	if delivered personally, at the time of delivery; or

 

		(b)	if delivered by commercial courier, at the time of signature of the courier’s receipt; or

 

		(c)	if sent by fax, at the time of transmission; or

 

		(d)	if sent by pre-paid first-class post or recorded delivery, at 9.00 am on the second day after posting.

 

		18.4	For the purposes of this clause:

 

		(a)	all times are to be read as local time in the place of deemed receipt; and

 

		(b)	if deemed receipt under this clause is not within business hours (meaning 9.00 am to 5.30 pm Monday to
Friday on a day that is not a public holiday in the place of receipt), the notice or other communication is deemed to have been received
when business next starts in the place of receipt.

 

		19.	Dispute resolution

 

		19.1	Amicable Settlement

 

If any dispute arises between the Parties,
they shall use all reasonable endeavours to resolve the matter amicably and in good faith. If one Party gives the other Party notice that
a dispute has arisen and the Parties are unable to resolve such dispute within 30 (thirty) days of service of such notice, then such dispute
shall be referred to the respective chairmen or chief executives or other nominated senior representative of the Parties. No Party shall
resort to arbitration against the other Party under this Agreement until at least 30 (thirty) days after such referral. This shall not
affect a Party’s right to seek interim relief.

 

    25

    

    

 

		19.2	Arbitration

 

		(a)	Unless provided for to the contrary in this Agreement, a dispute which arises in regard to:

 

		(i)	the interpretation of;

 

		(ii)	the carrying into effect of;

  

		(iii)	any of the Parties’ rights and obligations arising from;

 

		(iv)	the termination or purported termination of or arising from the termination of; or

 

		(v)	the rectification or proposed rectification of this Agreement, or out of or pursuant to this Agreement
or on any matter which in terms of this Agreement requires agreement by the Parties, (other than where an interdict is sought or urgent
relief may be obtained from a court of competent jurisdiction),

 

and which is not resolved in accordance
with clause 19.1, shall be submitted to and decided by arbitration under the rules of the London Court of International Arbitration
(the “LCIA Rules”) and such rules are deemed to be incorporated by reference into this clause.

 

		(b)	The seat and place of arbitration shall be in the Republic of South Africa with only the Parties and their
representatives present thereat.

 

		(c)	The Parties shall use their reasonable endeavours to procure the expeditious completion of the arbitration.

 

		(d)	Save as expressly provided in this Agreement to the contrary, the arbitration shall be subject to the
arbitration legislation for the time being in force in the Republic of South Africa.

 

		(e)	There shall be one arbitrator who shall, if the question in issue is:

 

    26

    

    

 

		(i)	primarily a legal matter, a practising senior counsel or, alternatively, a practising attorney of not
less than 15 (fifteen) years’ experience as an attorney; or

 

		(ii)	any other matter, a suitably qualified person.

 

		(f)	The appointment of the arbitrator shall be agreed upon by the Parties in writing or, failing agreement
by the Parties within 10 (ten) Business Days after the arbitration has been demanded, at the request of any of the Parties shall be nominated
by the LCIA Court in accordance with the LCIA Rules.

 

		(g)	The Parties shall keep the evidence in the arbitration proceedings and any order made by any arbitrator
confidential unless otherwise contemplated herein.

  

		(h)	The arbitrator shall be obliged to give his award in writing fully supported by reasons.

 

		(i)	The provisions of this clause are severable from the rest of this Agreement and shall remain in effect
even if this Agreement is terminated for any reason.

 

		(j)	The arbitrator shall have the power to give default judgment if any Party fails to make submissions on
due date and/or fails to appear at the arbitration, which judgment the arbitrator shall be entitled to rescind on good cause shown in
terms of the legal principles applicable to rescission of judgments.

 

		20.	Governing law and jurisdiction

 

		20.1	This Agreement and any dispute or claim arising out of or in connection with it or its subject matter
or formation (including non-contractual disputes or claims), shall be governed by, and construed in accordance with, the law of the Republic
of South Africa.

 

		20.2	Notwithstanding anything to the contrary contained in clause 19, either Party shall be entitled to
apply for any interdict (or any other matter that

 

    27

    

    

 

cannot
be resolved pursuant to clause 19) to be heard by any competent court having jurisdiction. In this regard, the Parties submit to
the non-exclusive jurisdiction of the courts of the Republic of South Africa.

 

This Agreement has been entered into on the date
stated at the beginning of it.

 

    28

    

    

 

	FOR	LIFEZONE LIMITED	 
	 	 	 
	Signature:	[***]	 
	 	who warrants that he / she
    is duly authorised thereto	 
	 	 	 
	Name:	[***]	 
	Date:	5
    June 2020	 
	Place:	[***]	 
	 	 	 
	 	 	 
	FOR	KELLTECHNOLOGY
    SOUTH AFRICA (RF) PROPRIETARY LIMITED	 
	 	 	 
	Signature:	 	 
	 	who warrants that he / she
    is duly authorised thereto	 
	 	 	 
	Name:	 	 
	Date:	 	 
	Place:	 	 

  

    29

    

    

 

Schedules
and other similar attachments to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K.

 

Schedule 1      Form of
Lifezone Appointee Undertakings

 

[***]

 

    30

    

    

 

 

 

First Addendum to the Agreement

 

 

between

 

 

Lifezone
Limited

(Company No. 019369V)

 

 

and

 

 

Kelltechnology
South Africa (RF) Proprietary Limited

(Registration No. 2008/026628/07)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

White & Case LLP

Katherine Towers, 1st Floor

1 Park Lane, Wierda Valley

Sandton, Johannesburg, 2196

Republic of South Africa

 

    

     

    

 

Table of Contents

 

Page

 

	1.	Introduction	1
	2.	Amendments	1
	3.	Continuation of the Agreement	2
	4.	Whole Agreement, No Amendment	2
	5.	Execution in Counterparts	3

 

    (i)

     

    

 

Whereby it is agreed as follows:

 

		1.	Introduction

 

		1.1	The parties (the “Parties”) to this addendum (this “Addendum”) entered
into the Lifezone/ KTSA Supply of Technical Services Agreement on or about 10 June 2020 (the “Agreement”), and
wish to amend the Agreement on the basis set out herein.

 

		1.2	All defined terms used but not defined in this Addendum shall, unless the context otherwise requires,
bear the same meaning ascribed to them in the Agreement.

 

		2.	Amendments

 

With effect from the date on which this
Addendum is signed by the Parties (the “Signature Date”), the Agreement is hereby amended by:

 

		2.1	deleting clause 9.1 of the Agreement in its entirety and replacing it with the following clause 9.1:

 

	 	 	“9.1 	With effect from 1 January 2021, in consideration of the provision of the Internal Services
    by Lifezone, KTSA shall pay Lifezone a fixed fee of US$[***]per calendar month (exclusive of VAT, if applicable) (“Retainer
    Fee”) in respect of the Services rendered by Lifezone contemplated in clause 6.1 of the Agreement. For the avoidance of
    doubt, KTSA shall only ever be liable to Lifezone in any calendar month for an amount of US$[***] (exclusive of VAT, if applicable)
    plus any amount payable for the External Services as contemplated in clause 9.2. Notwithstanding the aforesaid, by no later than 2
    weeks prior to the commencement of a quarter, the Parties shall meet to discuss the potential impact of COVID-19 on SPM’s
    mining operations. At such meeting, the Parties shall use their commercially reasonable endeavours to agree on an appropriate
    amendment (if any) to the Retainer Fee which shall be applicable for the following quarter. Should the Parties fail to reach
    agreement prior to the commencement of the following quarter (or such later date as agreed between the Parties in writing), then for
    the duration of the following quarter:

 

		(a)	Lifezone will not be obliged to provide the Services to KTSA;

 

		(b)	KTSA will not be obliged to pay Lifezone any amounts under this Agreement other than amounts which
became due, owing and payable under this Agreement prior to the commencement of such quarter; and neither Party shall be liable for a
failure to perform any of its obligations under this Agreement. ”.

 

		2.2	inserting a new clause 9.1A which provides as follows:

 

		 	“9.1A 	Notwithstanding the aforegoing, it is hereby recorded that, from the period commencing 1
    January 2021 up to and including the Signature Date (the “Credit Period”), Lifezone has received, quarterly
    in advance, a monthly fee of US$[***] in respect of the Services rendered during the aforementioned period. Accordingly, the Parties
    record and agree that an aggregate amount of US$[***] for each month falling within the Credit Period (“Credit
    Amount”) shall be credited in favour of KTSA and set-off against the Retainer Fees payable after the Signature Date until
    the entire Credit Amount has been exhausted. For the avoidance of doubt, KTSA’s obligation to pay any Retainer Fees after the
    Signature Date shall be discharged until the entire Credit Amount has been exhausted.”.

 

    

     

    

 

		2.3	inserting a new clause 9.9A which provides as follows:

 

“9.9A      Changes
to Calculations of Interest

 

9.9A. 1 Discontinuation of Libor

 

Notwithstanding anything to the contrary
contained herein, if Libor:

 

9.9A.1.1 ceases to exist;

 

9.9A. 1.2 is discontinued or ceases
to be published, permanently or indefinitely; or

 

9.9A. 1.3 will be prohibited from
being used or its use will be subject to restrictions or adverse consequences,

 

then all references to Libor in this
Agreement will be deemed to be references to the Successor Rate, and if there is no Successor Rate, will be deemed to be references to
the Alternative Rate.

 

9.9A.2 For this purpose:

 

	 	i.	“Alternative Rate” means an interest rate agreed between the Parties, provided
    that if the Parties cannot so agree, then the most suitable interest rate will be determined by independent bankers, acting reasonably.
    Such independent bankers will be agreed to by the Parties, and failing agreement will be appointed by the auditors of KTSA. The independent
    bankers shall act as an expert and not as an arbitrator.
	 	 	 
	 	ii.	“Relevant Nominating Body” means:

 

		a.	the New York Federal Reserve, or any central bank or other supervisory authority which is responsible
for supervising the administration of Libor; or

 

		b.	any working group or committee sponsored by, chaired or co-chaired by or constituted at the request
of (A) the central bankfor the currency to which Libor relates, (B) any central bank or other supervisory authority which is
responsible for supervising the administration of Libor, or (C) a group of the aforementioned central banks or other supervisory
authorities.

 

		iii.	“Successor Rate” means a successor to
or replacement of Libor which is formally recommended by any Relevant Nominating Body, which at the date of this Agreement is the Secured
Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York daily at 8am (New York time). ”

 

		3.	Continuation of the Agreement

 

Save as specifically contemplated in
this Addendum, the Agreement shall continue to be of force and effect on the basis of its original terms and conditions.

 

		4.	Whole Agreement, No Amendment

 

		4.1	This Addendum constitutes the whole agreement between the Parties relating to the subject matter hereof
and supersedes any other discussions, agreements and/or understandings regarding the subject matter hereof.

 

    2

     

    

 

		4.2	No amendment or consensual cancellation of this Addendum or any provision or term hereof or of any agreement
or other document issued or executed pursuant to or in terms of this Addendum and no settlement of any disputes arising under this Addendum
and no extension of time, waiver, relaxation or suspension of or agreement not to enforce or to suspend or postpone the enforcement of
any of the provisions or terms of this Addendum or of any agreement or other document issued pursuant to or in terms of this Addendum
shall be binding unless recorded in a written document signed by the Parties (or in the case of an extension of time, waiver, relaxation
or suspension, signed by the Party granting such extension, waiver, relaxation or suspension). Any such extension, waiver, relaxation
or suspension which is so given or made shall be strictly construed as relating strictly to the matter in respect whereof it was made
or given.

 

		4.3	No oral undertaking not to sue (pactum de non petendo) shall be of any force or effect.

 

		4.4	No extension of time or waiver or relaxation of any of the provisions or terms of this Addendum or any
agreement or other document issued or executed pursuant to or in terms of this Addendum, shall operate as an estoppel against any Party
in respect of its rights under this Addendum, nor shall it operate so as to preclude such Party thereafter from exercising its rights
strictly in accordance with this Addendum.

 

		4.5	To the extent permissible by law no Party shall be bound by any express or implied term, representation,
warranty, promise or the like not recorded herein, whether it induced the contract and/or whether it was negligent or not.

 

		4.6	This Addendum shall be governed by and interpreted in accordance with the substantive laws of the Republic
of South Africa.

 

		5.	Execution in Counterparts

 

This Addendum may be executed in one
or more counterparts, each of which shall be deemed to be an original, and all of which together shall constitute one and the same agreement
as at the date of signature of the Party that signs its counterpart last in time.

 

    3

     

    

 

Signed by the Parties on the following dates and at the following
places respectively:

 

	For Lifezone Limited		 
	 	/s/ [***]
	 	Signature
	 	 	(who warrants that he/she is duly
	 	 	authorised thereto)
	 	 	 
	 	 	Name:	[***]

	 	 	Date:	3
December 2021
	 	 	Place:	[***]

 

	For Kelltechnology South Africa (RF)		 
	Proprietary Limited	/s/ Erich
    Clarke
	 	Signature
	 	 	(who warrants that he/she is duly
	 	 	authorised thereto)
	 	 	 
	 	 	Name:	Erich
    Clarke
	 	 	Date:	2
    December 2021
	 	 	Place:	[***]

 

    4Exhibit 10.15

 

Certain
information has been omitted from the exhibit because it is both (i) not material and (ii) of the type that the registrant
customarily and actually treats as private or confidential. The omissions have been indicated by (“[***]”).

 

Dated
24 October 2021

 

Supply
of Technical Services Agreement

 

between

 

Lifezone
Limited

 

and

 

Kellplant
Proprietary Limited

 

    

     

    

 

Table
of Contents

 

Page

 

		1.	Interpretation	2

 

		2.	Commencement
                                            and duration	11

 

		3.	Lifezone’s
                                            obligations	11

 

		4.	Provision
                                            of the Services	13

 

		5.	KP’s
                                            obligations	14

 

		6.	Regulatory
                                            Approval	16

 

		7.	Charges
                                            and payment	17

 

		8.	Quality
                                            of services	20

 

		9.	Confidentiality	22

 

		10.	Application
                                            and Training	22

 

		11.	Limitation
                                            of liability	23

 

		12.	Insurance	23

 

		13.	Termination	24

 

		14.	Force
                                            majeure	27

 

		15.	General	29

 

		16.	Rights
                                            of third parties	30

 

		17.	Notices	30

 

		18.	Dispute
                                            resolution	32

 

		19.	Governing
                                            law and jurisdiction	35

 

	Schedule
  1	Map
	37

 

	Schedule
  2	Personnel
  involved in rendering the Services and percentage of hours to be spent by each such Lifezone Appointee	38

 

    

     

    

 

This
Agreement is made on 24 October 2021

 

Between:

 

		(1)	Lifezone
                                            Limited incorporated and registered in Isle of Man with company number 019369V, whose
                                            registered office is at Commerce House, 1 Bowring Road, Ramsey IM8 2LQ, Isle of Man
                                            (“Lifezone”); and

 

		(2)	Kellplant
                                            Proprietary Limited (registration number 2015/364753/07), a private limited liability
                                            company incorporated in accordance with the laws of South Africa, whose registered office
                                            is at Unit FF04, First Floor, Southdowns Office Park Cnr. John Vorster Drive & Karee
                                            Road Irene Ext 54, 0157 Centurion, Republic of South Africa (“KP”).

 

Whereas:

 

		(A)	Lifezone
                                            has granted KellTech Limited (Company No. 084564 C1/GBL) (“KellTech”)
                                            an exclusive licence to use intellectual property relating to Kelltechnology in SADC (the
                                            “KellTech Licence”).

 

		(B)	KellTech
                                            has granted to Kelltechnology South Africa (RF) Proprietary Limited, (Registration No. 2008/026628/07),
                                            a private limited liability company incorporated in accordance with the laws of South Africa,
                                            whose registered office is at 6 Ecofusion Block B, 324 Witch-Hazel Avenue, Highveld Park
                                            Extension 59, Gauteng, South Africa (“KTSA”), an exclusive licence to
                                            use the Kelltechnology in the Licensed Territory and the right to sublicense same on a non-exclusive
                                            basis in the Licensed Territory on the basis that such sub-licensees do not have the right
                                            to further sub-license the intellectual property (the “KTSA License”).

 

		(C)	KTSA
                                            has granted to KP a non-exclusive license to design, construct and operate a Kell Plant at
                                            the Pilanesberg Platinum Mine (“PPM”) (the “PPM Kell Plant”).

 

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		(D)	The
                                            Parties have agreed that Lifezone will provide technical support services to KP (the “Services”,
                                            as further defined below in 1.2(ff)) in relation to the design, construction and commissioning
                                            of the PPM Kell Plant on the terms set out in this Agreement.

 

		(E)	Lifezone
                                            will procure that the Lifezone Appointees will be the Lifezone personnel responsible for
                                            delivering the Services on behalf of Lifezone under this Agreement.

 

It
is agreed:

 

		1.	Interpretation

 

		1.1	Terms
                                            defined in the KellTech Licence and subsequent amendments thereof and not defined herein
                                            have the same meaning when used in this Agreement, notwithstanding that such defined terms
                                            have not been defined in this Agreement.

 

		1.2	The
                                            definitions and rules of interpretation in this clause apply in this Agreement.

 

		(a)	Agreement
                                            means this agreement, together with the schedule thereto;

 

		(b)	Alternative
                                            Rate means an interest rate agreed between the Parties, provided that if the Parties
                                            cannot so agree, then the interest rate will be determined by independent bankers. Such independent
                                            bankers will be agreed to by the Parties, and failing agreement will be appointed by the
                                            auditors of KP. The independent bankers shall act as an expert and not as an arbitrator.

 

		(c)	Commercial
                                            Production means and shall be deemed to have been achieved when the PPM Kell Plant produces
                                            refined PGMs: (i) at
                                            an average rate of 90% of the production capacity for the PPM Kell Plant as specified in
                                            the plant design and production specifications agreed to in the design agreement to be entered
                                            into between Lifezone, KP and Sim ulus Engineers; (ii) with a PGM

   

    2

     

    

 

extraction rate
of 90%, (iii) for a continuous operation period of 3 (three) months;

 

		(d)	Commercial
                                            Production Date means the date on which Commercial Production is achieved;

 

		(e)	Deed
                                            of Undertaking means the deed of undertaking entered into between [***], Lifezone and
                                            KTSA dated on or about 10 June 2020;

 

		(f)	Effective
                                            Date means 1 January 2021;

 

		(g)	Exchange
                                            Control Regulations means the South African Exchange Control Regulations, 1961 (as amended
                                            from time to time) as promulgated in terms of section 9 of the South African Currency and
                                            Exchanges Act No. 9 of 1933;

 

		(h)	Financial
                                            Surveillance Department means the Financial Surveillance Department of the South African
                                            Reserve Bank;

 

		(i)	Governmental
                                            Entity means any national, state, municipal or local government (including any subdivision,
                                            court, administrative agency or commission or other authority thereof), or any governmental
                                            department, or any agency, regulator, court, entity, commission, board, ministry, bureau,
                                            locality or authority of any of the foregoing, or any quasi-governmental or private body
                                            exercising any binding regulatory or other governmental or quasi-governmental authority or
                                            function in South Africa;

 

		(j)	Group
                                            means KP, KTSA and any company in which KTSA (a) owns directly or indirectly a majority
                                            of the issued share capital and/or (b) holds directly or indirectly a majority of the
                                            voting rights is
                                            entitled to receive the majority of any distribution (d) is entitled to receive the
                                            majority of its assets on a winding up and/or (e) any holding company which directly
                                            or indirectly Controls KTSA;

 

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		(k)	Interest
                                            Rate means Libor, or if Libor (i) ceases to exist; (ii) is discontinued or
                                            ceases to be published, permanently or indefinitely; or (iii) will be prohibited from
                                            being used or its use will be subject to restrictions or adverse consequences, then the applicable
                                            interest for the purposes of clause 7.9(a) shall be a Successor Rate failing which,
                                            an Alternative Rate.

 

		(l)	KP
                                            Board means the board of directors of KP;

 

		(m)	KP
                                            Technical Appointee has the meaning set out in clause 10.1;

 

		(n)	KellTech
                                            Licence has the meaning set out in the recitals (as modified, novated, amended or supplemented
                                            from time to time);

 

		(o)	KellTech
                                            Shareholders Agreement means the written shareholders agreement entered into between
                                            Lifezone, SPM, Orkid, KellTech and [***] (as modified, novated, amended or supplemented from
                                            time to time);

 

		(p)	Kelltechnology
                                            means the hydrometallurgical process developed by [***] for the extraction of PGMs that
                                            requires significantly less electrical energy than the current conventional matte smelting
                                            process;

 

		(q)	KTSA
                                            License has the meaning set out in the recitals (as modified, novated, amended or supplemented
                                            from time to time);

 

		(r)	Law
                                            means any applicable law (including all statutes and subordinated legislation or other
                                            legislative measure), constitution, treaty, regulation, rule, ordinance, by-laws, principle
                                            of common law, order or decree of any Governmental Entity (including any judicial or administrative
                                            interpretation thereof) in force from time to time;

  

		(s)	Libor
                                            means the London interbank offered rate administered by the British Bankers Association
                                            (or any other person which takes over the administration of that rate) for US dollars for
                                            three months 

 

    4

     

    

 

 

displayed on pages LIBOR01 or LIBOR02 of the Reuters screen (or any replacement
                                            Reuters page which displays that rate);

 

		(t)	Licensed
                                            Territory has the meaning ascribed thereto in the KTSA Licence (as modified, novated,
                                            amended or supplemented from time to time);

 

		(u)	Lifezone
                                            Appointee has the meaning set out in clause 4.1;

 

		(v)	Lifezone
                                            Expenses has the meaning set out in clause 7.8;

 

		(w)	Orkid
                                            means Orkid S.à r.l., Registration No. B 167 777, a limited liability private
                                            company duly incorporated in Luxembourg;

 

		(x)	Parties
                                            means KP and Lifezone and “Party” means any one of them as the context requires;

 

		(y)	PGMs
                                            means (a) platinum, palladium, rhodium, ruthenium, iridium and osmium (all six being
                                            the metallic elements contained in the Platinum Group of the Periodic Table, “PGEs”)
                                            but only where the primary focus of the extraction process is on the extraction of one or
                                            more of the PGEs; (b) gold and silver (“Precious Metals”) but only
                                            where the primary focus of the extraction process is on the extraction of one or more of
                                            PGEs or one or more of the Precious Metals; and (c) nickel, copper, cobalt, and other
                                            metals, elements or compounds but only where the primary focus of the extraction process
                                            is on the extraction of one or more of the PGEs or one or more of the Precious Metals;

 

		(z)	PPM
                                            Kell Plant Site means the site outlined in orange in the diagram attached as Schedule
                                            1 ;

 

		(aa)	Project
                                            Documents means any agreements and documents in relation to the design, engineering,
                                            construction, commissioning, development and/or operation of the PPM Kell Plant, including
                                            all documents, drawings and sketches, maps, plans, photographs, specifications, calculations,
                                            reports, computer software,

 

    5

     

    

 

 databases, manuals, as built documents, models, three-dimensional
                                            works pertaining to geography or topography or other architectural works, technical and design
                                            documents and any other copyright works prepared for the benefit of KP pursuant to this Agreement;

 

		(bb)	Reasonable
                                            and Prudent Standards means the standards of a person using reasonable efforts to perform
                                            its obligations under this Agreement exercising the degree of skill, diligence, prudence
                                            and foresight that would reasonably and ordinarily be expected from a skilled and experienced
                                            professional complying with all applicable Laws;

 

		(cc)	Relevant
                                            Nominating Body means:

 

		(i)	the
                                            New York Federal Reserve, or any central bank or other supervisory authority which is responsible
                                            for supervising the administrator of Libor; or

 

		(ii)	any
                                            working group or committee sponsored by, chaired or cochaired by or constituted at the request
                                            of (A) the central bank for the currency to which Libor relates, (B) any central
                                            bank or other supervisory authority which is responsible for supervising the administrator
                                            of Libor, or (C) a group of the aforementioned central banks or other supervisory authorities;

 

		(dd)	SADC
                                            means the Southern African Development Community excluding Mauritius, comprising Angola,
                                            Botswana, the Democratic Republic of Congo, Lesotho, Malawi,

  

Madagascar,
Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe;

 

		(ee)	Services
                                            Fee has the meaning set out in clause 7.1;

 

		(ff)	Services
                                            means the technical support services to be provided by Lifezone to KP in relation to
                                            the design, construction and commissioning of the PPM Kell Plant, including, without limitation:

 

    6

     

    

  

		(i)	scoping
                                            of the detailed design requirements and negotiation of proposals from contractors and suppliers
                                            to KP;

 

		(ii)	scoping,
                                            management and reporting of proposed design test work;

 

		(iii)	contributing
                                            to the detailed design of the PPM Kell Plant, evaluation of flowsheet/s, testwork and process
                                            simulation data to enable freezing of flowsheet/s for construction;

 

		(iv)	preparation,
                                            management and monthly reporting of budgets and schedule (actual against planned);

 

		(v)	general
                                            project management, including ongoing liaison meetings, updates, scheduling and coordination;

 

		(vi)	revision
                                            and co-approval with KP of all deliverables including basis of design documents, detailed
                                            drawings, vendor data and drawings;

 

		(vii)	revision
                                            and co-approval with KP of design, layout and equipment inclusions across plant areas to
                                            reduce operating complexity;

 

		(viii)	revision
                                            and co-approval with KP of scope segmentation and definition to enable development and delivery
                                            of the detailed design;

 

		(ix)	revision
                                            and co-approval with KP of scope segmentation and definition to enable early and stagewise
                                            procurement;

 

		(x)	co-approval
                                            with KP of recommended long lead purchase items;

 

		(xi)	co-approval
                                            with KP of recommended purchase items including long lead purchase items;

 

		(xii)	monitoring
                                            and co-approval with KP of scope change register;

 

    7

     

    

  

		(xiii)	review
                                            and co-approval with KP of recommended fabrication and construction contracts;

 

		(xiv)	assisting
                                            KP with preparation of materials and facilitating environmental, research and development,
                                            and other tax incentive applications;

 

		(xv)	liaison
                                            with KP and PPM staff for integration of the PPM Kell Plant into the PPM Kell Plant Site;

 

		(xvi)	providing
                                            expertise and assistance to KP, to facilitate KP’s negotiation of feed purchase and
                                            product offtake agreements;

 

		(xvii)	development
                                            and updating of project financial models;

 

		(xviii)	providing
                                            expertise and assistance to KP, to facilitate negotiation of project funding;

  

		(xix)	assisting
                                            KP with negotiation of Special Economic Zone (as such term is defined in the Special Economic
                                            Zone Act, 16 of 2014);

 

		(xx)	maintenance
                                            of project data room and assisting KP and/or SPM with due diligence as required;

 

		(xxi)	media
                                            and stakeholder liaison including preparation of materials;

 

		(xxii)	assisting
                                            with preparation of hazard and operability study procedures and documentation;

 

		(xxiii)	assisting
                                            with preparation of policies and procedures;

 

		(xxiv)	assisting
                                            with preparation of staffing requirements and training procedures;

 

		(xxv)	assisting
                                            with preparation of marketing materials and their dissemination;

 

		(xxvi)	assisting
                                            with preparation of reporting documents to the boards of the KP Group;

 

    8

     

    

  

		(xxvii)	assisting
                                            with preparation of commissioning policies and procedures; and

 

		(xxviii)	show
                                            and/or illustrate how the Intellectual Property is to be applied and/or implemented and provide
                                            training to KP to the extent reasonably required in order to enable independent commercial
                                            operation and maintenance of the PPM Kell Plant by KP;

 

		(gg)	Signature
                                            Date means the date on which this Agreement is signed by the last Party signing this
                                            Agreement;

 

		(hh)	South
                                            Africa means the Republic of South Africa;

 

		(ii)	SPM
                                            means Sedibelo Platinum Mines Limited, registration number 5440, a company incorporated
                                            in Guernsey having its registered address at 11 New Street, St Peter Port, Guernsey, GY1
                                            2PF;

 

		(jj)	Successor
                                            Rate means a successor to or replacement of Libor which is formally recommended by any
                                            Relevant Nominating Body, which at the date of this Agreement is the Secured Overnight Financing
                                            Rate (SOFR) published by the Federal Reserve Bank of New York daily at 8am (New York time).

 

		(kk)	Taxes
                                            includes all forms of taxation actually imposed, collected or assessed by, or payable
                                            to, any tax authority having jurisdiction over one / both of the Parties (regardless of whether
                                            such tax is directly or primarily chargeable against or attributable to a Party, and regardless
                                            of whether any Party has, or may have any right of reimbursement) and shall include statutory
                                            and governmental taxes, charges, imposts, duty, contributions and levies, withholdings and
                                            deductions, whenever imposed and all related penalties, charges, costs and interest whether
                                            by way of assessment or otherwise, and “Tax” and “Taxation” shall
                                            have a corresponding meaning;

 

		(ll)	VAT
                                            means value added tax levied from time to time in terms of the VAT Act; and

 

    9

     

    

  

		(mm)	VAT
                                            Act means the Value Added Tax Act No. 89 of 1991.

 

		1.3	Clause,
                                            schedule and paragraph headings are for reference purposes and convenience only and shall
                                            not affect the interpretation of this Agreement.

  

		1.4	If
                                            any provision in a definition is a substantive provision conferring rights or imposing obligations
                                            on any Party, notwithstanding that it is only in the definition clause, effect shall be given
                                            to it as if it were a substantive provision in the body of the Agreement.

 

		1.5	A
                                            person includes a natural person, corporate or unincorporated body (whether or not having
                                            separate legal personality).

 

		1.6	The
                                            schedules form part of this Agreement and shall have effect as if set out in full in the
                                            body of this Agreement. Any reference to this Agreement includes the schedules.

 

		1.7	Terms
                                            defined in this Agreement shall bear the same meanings in schedules to this Agreement to
                                            the extent to which they do not themselves contain their own definitions.

 

		1.8	Words
                                            in the singular shall include the plural and vice versa.

 

		1.9	The
                                            rule of construction that a contract should be interpreted against the Party responsible
                                            for drafting or preparation of the contract, shall not apply to this Agreement. A reference
                                            to writing or written includes faxes but not e-mail.

 

		1.10	Where
                                            the words include(s), including or in particular are used in this Agreement, they are deemed
                                            to have the words without limitation following them. Where the context permits, the words
                                            other and otherwise are illustrative and shall not limit the sense of the words preceding
                                            them.

 

    10

     

    

  

		1.11	Any
                                            obligation in this Agreement on a person not to do something includes an obligation not to
                                            agree, allow, permit or acquiesce in that thing being done.

 

		1.12	References
                                            to clauses and schedules are to the clauses and schedules of this Agreement.

 

		1.13	Any
                                            reference in this Agreement to any other agreement or document shall be construed as reference
                                            to such agreement or document as same may have been, or may from time to time be, amended,
                                            varied, novated or supplemented.

 

		2.	Commencement
                                            and duration

 

		2.1	Lifezone
                                            shall provide the Services to KP on the terms and conditions of this Agreement from the Effective
                                            Date.

 

		2.2	Lifezone
                                            shall provide the Services for a period commencing on the Effective Date and terminating
                                            on the Commercial Production Date, subject to the provisions of clause 10, or is terminated
                                            in accordance with clause 13.

 

		3.	Lifezone’s
                                            obligations

 

		3.1	Lifezone
                                            shall:

 

		(a)	provide
                                            and complete the Services to KP:

 

		(i)	in
                                            accordance with this Agreement;

 

		(ii)	in
                                            accordance with Project Documents insofar as they pertain to the Services;

 

		(b)	in
                                            performing its obligations under this Agreement, not do anything or fail to do something
                                            which causes any member of the Group to be in breach of its obligations under the Project
                                            Documents or which impedes, hinders or disrupts any member of the Group’s performance
                                            of its obligations under the Project Documents;

  

    11

     

    

  

		(c)	obtain
                                            and maintain all necessary licences and consents and comply with all relevant Laws in relation
                                            to the Services;

 

		(d)	observe
                                            all health and safety rules and regulations and any other reasonable security requirements
                                            that apply at any of the KP and PPM premises and that have been communicated to it under
                                            clause 3.1(e) provided that it shall not be liable under this Agreement if, as a result
                                            of such observation, it is in breach of any of its obligations under this Agreement;

 

		(e)	notify
                                            KP in writing as soon as it becomes aware of any health and safety hazards or issues which
                                            arise: (i) in relation to the Services; and/or (ii) at any premises of KP or PPM;

 

		(f)	co-operate
                                            with KP in all matters relating to the Services; and

 

		(g)	generally,
                                            do all such things necessary and incidental to the provision of the Services as may be required
                                            by KP, acting reasonably; and

 

		(h)	co-operate
                                            with KP in order to enable KP to fully discharge KP’s obligations in terms of Tax and
                                            Exchange Control Regulations (if applicable) connected to or arising from this Agreement.

 

		3.2	Lifezone
                                            must ensure that:

 

		(a)	any
                                            documents to be prepared by Lifezone and submitted to KP under this Agreement are in a format
                                            approved by KP, acting reasonably; and

 

		(b)	that
                                            the Lifezone Appointees are familiar with and comply with any KP’s reasonable directions,
                                            procedures and policies that are provided by KP to Lifezone.

 

		3.3	Lifezone
                                            is and remains fully responsible for the suitability and safety of the equipment used by
                                            all the Lifezone Appointees from time to time, whether within or outside KP’s premises.

 

    12

     

    

 

 

		4.	Provision
                                            of the Services

 

		4.1	The
                                            Services will specifically be provided to KP and will be provided by suitably qualified,
                                            skilled and experienced directors, employees and consultants nominated by Lifezone and approved
                                            in writing by KP acting reasonably (each a Lifezone Appointee). The Lifezone Appointees will
                                            be:

 

		(a)	[***];

 

		(b)	[***];

 

		(c)	[***];

 

		(d)	[***];

 

		(e)	[***];
                                            and

 

		(f)	any
                                            other suitably qualified, skilled and experienced employees and consultants nominated by
                                            Lifezone and approved in writing by KP acting reasonably (each a “Lifezone Consultant”).

 

		4.2	The
                                            named Lifezone Appointees in (a) to (e) above are deemed to be approved by KP as
                                            at the Effective Date.

 

		4.3	Lifezone
                                            will procure that [***] and [***] will remain Lifezone Appointees until such time as:

                                                                                 

                                                                                (a) KP
                                            notifies Lifezone, in writing, that either and/or both of them are no longer required to
                                            be a
Lifezone Appointee (which notification KP shall be entitled to furnish at any time); or (b) this Agreement is terminated.

   

		4.4	In
                                            relation to the Lifezone Appointees, Lifezone shall promptly inform KP of the absence (or
                                            the anticipated absence) of any of the Lifezone Appointees, and if so required by KP, provide
                                            a suitably qualified replacement for such individual.

 

		4.5	For
                                            the duration of the term of this Agreement, Lifezone shall:

 

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		(a)	ensure
                                            that [***] and [***] are reasonably available during normal South African business hours through,
                                            in particular, having a telephone and/or cellular telephone and maintaining continued accessibility
                                            to the internet and email for this purpose;

 

		(b)	immediately
                                            notify KP by way of telephone and/or email should any material circumstances arise, including
                                            any delays, in respect of or in connection with the rendering by it or any third party supplier
                                            of the Services and to work expeditiously with KP to resolve any such issues as may arise
                                            from time to time.

 

		4.6	In
                                            respect of Services which are to be co-approved by KP, notwithstanding that KP will co-approve
                                            such Services, Lifezone shall ultimately remain responsible for such Services.

 

		5.	KP’s
                                            obligations

 

		5.1	KP
                                            shall:

 

		(a)	co-operate
                                            with Lifezone in all matters relating to the Services and do such things as may be reasonably
                                            necessary to enable Lifezone to deliver the Services;

 

		(b)	to
                                            the extent that Lifezone has not been involved in the preparation and execution of any of
                                            the Project Documents, provide Lifezone with a copy of any such Project Documents upon execution
                                            thereof as soon as is reasonably practicable;

 

		(c)	provide
                                            Lifezone, its agents, subcontractors, consultants and employees, in a timely manner and at
                                            no charge, reasonable access to KP’s premises, the PPM Kell Plant Site, office accommodation,
                                            data and other facilities to the extent necessary for the performance of Services, provided
                                            that KP reserves the right to (acting reasonably) refuse any Lifezone Appointee access to
                                            KP’s premises at any time;

 

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		(d)	provide,
                                            in a timely manner, such information as Lifezone may reasonably require for the provision
                                            of the Services;

 

		(e)	obtain
                                            and maintain all necessary licences and consents and comply with all relevant legislation
                                            in relation to its operations;

 

		(f)	be
                                            responsible (at its own cost) for preparing and maintaining the relevant premises for the
                                            supply of the Services, including identifying, monitoring, removing and disposing of any
                                            hazardous materials from any of its premises in accordance with all applicable laws, before
                                            and during the supply of the Services at those premises;

 

		(g)	inform
                                            Lifezone of all health and safety rules and regulations and any other reasonable security
                                            requirements that apply at any of KP’s premises, the PPM Kell Plant Site and the PPM
                                            premises;

 

		(h)	ensure
                                            that all equipment, systems or facilities of KP and the PPM Kell Plant Site and used directly
                                            or indirectly in the supply of the Services are in good working order and suitable for the
                                            purposes for which it is used in relation to the Services and conforms to all applicable
                                            standards and requirements in South Africa; and

 

		(i)	make
                                            payment against Lifezone’s invoices for the Services Fee in accordance with clauses
                                            7.5, 7.6 and 7.7, and Lifezone Expenses in accordance with clause 7.8.

 

		5.2	If
                                            Lifezone’s performance of its obligations under this Agreement is prevented or delayed
                                            by any act or omission of KP, its agents, subcontractors, consultants, employees or PPM,
                                            Lifezone shall not be liable for any costs, charges or losses sustained or incurred by KP
                                            that arise directly or indirectly from such prevention or delay, provided that Lifezone shall
                                            only be relieved from performing and/or delaying its obligations under this Agreement to
                                            the extent that the aforesaid act or omission restricts or precludes the performance of the
                                            Services and

 

    15

     

    

 

 Lifezone has, promptly after the actual or potential non-compliance has come
                                            to its attention, notified KP thereof in writing.

 

		6.	Regulatory
                                            Approval

 

		6.1	Notwithstanding
                                            anything to the contrary, the Parties record and agree that no Service Fee shall become due
                                            and payable until such time as the approval required in terms of the Exchange Control Regulations
                                            for the payment and remittance of the relevant Service Fee by KP to Lifezone (“Exchange
                                            Control Approval”) has been obtained from the Financial Surveillance Department.

 

		6.2	KP
                                            and Lifezone will use their reasonable endeavours to procure that the filing for the first
                                            Exchange Control Approval is submitted to the Financial Surveillance Department as reasonably
                                            practicable after the Signature Date, and thereafter by no later than 90 (ninety) calendar
                                            days prior to each anniversary of the Effective Date for each subsequent Exchange Control
                                            Approval required.

 

		6.3	Pursuant
                                            the provisions if 6.2 above, each of KP and Lifezone will:

 

		(a)	sign
                                            all documents and expeditiously provide all necessary information upon being required to
                                            do so;

 

		(b)	use
                                            its reasonable endeavours and shall take all such steps and render all such assistance as
                                            may be reasonably necessary from a process point of view; and

 

		(c)	do
                                            everything reasonably required by the Financial Surveillance Department from a process point
                                            of view,

 

in
each case, to procure that the filing of the Exchange Control Approval with the Financial Surveillance Department is properly prepared
and duly

 

    16

     

    

  

submitted within the time period specified in clause 6.2 and the Exchange Control Approval is obtained.

 

		7.	Charges
                                            and payment

 

		7.1	In
                                            consideration for the provision of the Services by Lifezone, KP shall, with retrospective
                                            effect from the Effective Date, pay Lifezone a fixed fee of US$[***] per calendar month (exclusive
                                            of VAT, if applicable, provided that if VAT is applicable and Lifezone is registered as a
                                            VAT vendor, then all invoices issued by Lifezone must be a valid tax invoice as set out in
                                            section 20 of the VAT Act) (“Services Fee”) in respect of the Services
                                            rendered by Lifezone contemplated in clause 4.1.

 

		7.2	Subject
                                            to clause 4, it is recorded and agreed that the Services Fee is based on the Lifezone Appointees
                                            listed in the first column of the table in Schedule 2 spending no more than the percentage
                                            of allocated time opposite their name in rendering the Services. To the extent that Lifezone
                                            reasonably believes that:

 

		(a)	an
                                            additional Lifezone Appointee will be required to provide the Services;

  

		(b)	a
                                            Lifezone Appointee listed in the first column of the table in Schedule 2 is no longer required
                                            to provide the Services;

 

		(c)	a
                                            Lifezone Appointee listed in the first column of the table in Schedule 2 will be required
                                            to spend more than the percentage of allocated time in rendering the Services; and/or

 

		(d)	a
                                            Lifezone Appointee listed in the first column of the table in Schedule 2 will be required
                                            to spend less than the percentage of allocated time in rendering the Services,

 

Lifezone
undertakes to promptly notify KP thereof and provide KP with an updated Schedule 2 reflecting any additional or removed Lifezone Appointee/s
(as the case may be) and the updated percentage of allocated time to be spent by each Lifezone Appointee in rendering the

 

    17

     

    

  

Services, following
which the Parties shall negotiate in good faith to agree in writing any increase or decrease (as the case may be) in the Service Fee.

 

		7.3	Without
                                            derogating from the aforegoing, in the event that the employment of any Lifezone Appointee
                                            is transferred to KP, the Services Fees shall be reduced accordingly.

 

		7.4	On
                                            each anniversary of the Effective Date, the Services Fee shall be increased at [***]% per
                                            annum.

 

		7.5	At
                                            the end of each calendar quarter, Lifezone shall provide to KP three separate invoices for
                                            each calendar month in the following quarter specifying the Services Fee for each such calendar
                                            month and any accrued Lifezone Expenses for each calendar month in the prior quarter. KP
                                            shall pay the Services Fee monthly in advance on the first business day of each calendar
                                            month.

 

		7.6	The
                                            accrued but unpaid Services Fee for the period 1 January 2021 to date of execution will
                                            become due and payable within 5 days of the later date on which (i) this Agreement is
                                            executed; and (ii) the Exchange Control Approval is obtained from the Financial Surveillance
                                            Department as relates to such Service Fees.

 

		7.7	The
                                            Services Fee and Lifezone Expenses shall be paid in full in US$ in cleared funds (without
                                            deduction or set-off) to the bank account detailed below or as otherwise nominated in writing
                                            by Lifezone:

 

	 	Bank	[***]
	 	Swift
    Code:	[***]
	 	In
    favour of:	Lifezone
    Limited
	 	IBAN
    Number:	[***]
	 	Correspondent
    bank for US$:	[***]

 

    18

     

    

 

	 	Correspondent
    bank’s address:	[***]
	 	Correspondent
    bank’s swift code:	[***]
	 	Correspondent
    bank’s Sort code:	[***]
	 	[***]
    account number with the correspondent bank:	[***]

 

		7.8	KP
                                            shall promptly reimburse Lifezone in respect of the reasonable costs (excluding VAT which
                                            Lifezone may be entitled to recover) of hotel, subsistence, travelling, communications and
                                            any other reasonable ancillary expenses reasonably incurred by any Lifezone Appointee or
                                            any other individual whom Lifezone engages in connection with the Services, the cost of any
                                            materials and the cost of services reasonably and properly provided by third parties and
                                            required by Lifezone for the supply of the Services (“Lifezone Expenses”),
                                            provided that Lifezone has either obtained the prior written approval of KP or such Lifezone
                                            Expenses which have been approved by the KP Board or in terms of any applicable KP budget
                                            specifically in respect of such Lifezone Expenses. For the avoidance of doubt, Lifezone shall
                                            not be entitled to recover the cost of appointing any consultant or sub-contractor to perform
                                            any part of the Services on its behalf.

 

		7.9	Without
                                            prejudice to any other right or remedy that it may have, if KP fails to pay Lifezone the
                                            Services Fee on the date upon which the Services Fee is due, owing and payable by KP to Lifezone,
                                            Lifezone may:

 

		(a)	charge
                                            interest on such sum from the due date for payment at the Interest Rate (applicable during
                                            the relevant quarter in which payment of such due sum is outstanding) plus a margin of 3%
                                            accruing on a daily basis until payment is made, whether before or after any judgement, and
                                            KP shall pay the interest immediately on demand. The said interest shall be compounded quarterly.
                                            The 

 

    19

     

    

 

	 	 	Interest
    Rate will be calculated on a basis of a 360 day year for actual days lapsed; and

 

		(b)	suspend
                                            all Services until payment has been made in full.

 

		7.10	All
                                            sums accrued but not yet payable to Lifezone under this Agreement shall become due immediately
                                            on its termination, despite any other provision. This clause 7.10 is without prejudice to
                                            any right to claim for interest under the law or any such right under this Agreement.

 

		8.	Quality
                                            of services

 

		8.1	Lifezone
                                            hereby warrants as at the Signature Date and the Effective Date and covenants to KP for the
                                            entire duration of this Agreement that:

 

		(a)	it
                                            has the expert skill and knowledge to provide the Services;

 

		(b)	it
                                            will perform the Services in accordance with Reasonable and Prudent Standards;

 

		(c)	the
                                            Services will conform with all descriptions and specifications reasonably required by KP;
                                            and

 

		(d)	the
                                            Services will be provided in accordance with all applicable Laws, from time to time in force,
                                            and Lifezone will inform KP as soon it becomes aware of any changes in any such Law and/or
                                            any breach by it of such Law.

 

		8.2	Lifezone
                                            hereby warrants as at the Signature Date and the Effective Date that:

 

		(a)	it
                                            is not aware (having made all reasonable enquiries) of any fact, matter or circumstance which
                                            may hinder it from performing the Services; and

 

		(b)	it
                                            is not aware (having made all reasonable enquiries) of any fact, matter or circumstance which
                                            is likely to result in it not being able to maintain the consents, licences, permits, registrations,

 

    20

     

    

 

approvals
and other authorities required by Lifezone in order to provide the Services after the Effective Date.

 

		8.3	Lifezone
                                            covenants to KP for the entire duration of this Agreement that:

 

		(a)	it
                                            will inform KP should it become aware of any fact, matter or circumstance:

 

		(i)	which
                                            may hinder it or any Lifezone Appointee from performing the Services; and/or

 

		(ii)	relating
                                            to any breach by any Lifezone Appointee of any term of this Agreement;

 

		(b)	it
                                            will inform KP should it become aware of any fact, matter or circumstance which is likely
                                            to result in it not being able to maintain the consents, licences, permits, registrations,
                                            approvals and other authorities required by: (i) Lifezone in order to provide the Services;
                                            and/or (ii) the operations of KP;

 

		(c)	it
                                            will forthwith disclose to KP all facts and circumstances within its knowledge which would
                                            reasonably be likely to be material to: (i) KP in relation to the appointment of Lifezone
                                            and/or any Lifezone Appointee to perform the Services; and

 

		(d)	it
                                            will provide the Services and to this end shall use its reasonable endeavours:

 

		(i)	to
                                            procure that each Lifezone Appointee acts with integrity and exercises all reasonable skill,
                                            care and diligence in providing the Services;

 

		(ii)	to
                                            protect and promote the business and interests of KP.

 

		8.4	The
                                            provisions of this clause 8 shall survive any performance, acceptance or payment pursuant
                                            to this Agreement and shall extend to any substituted or remedial Services provided by Lifezone.

 

    21

     

    

 

		9.	Confidentiality

 

The
provisions of clause 23 (Confidentiality) of the KellTech Licence will apply to this Agreement, with such changes as are required by
the context.

 

		10.	Application
                                            and Training

 

		10.1	It
                                            is hereby agreed:

 

		(a)	KP
                                            will appoint or nominate one or more suitably technically qualified, skilled and experienced
                                            directors, employees and/or consultants (each a “KP Technical Appointee”)
                                            to be its representative in respect of the Services provided for in this clause 10. KP will
                                            inform Lifezone in writing of the identity of each KP Technical Appointee;

 

		(b)	Lifezone
                                            will show and illustrate to KP and the KP Technical Appointee/s, the application, implementation
                                            and use of the Intellectual Property, inter alia, in respect of the operation and
                                            maintenance of the PPM Kell Plant to the extent reasonably required by KP, and which will
                                            be accompanied by the provision of all documentation, materials and information (in whatever
                                            form) to KP, with such provision occurring in terms of the KTSA License to enable KP to apply,
                                            implement and use the Intellectual Property; and

 

		(c)	KP
                                            will have the right, to be exercised reasonably, to request that Lifezone provide training
                                            to the KP Technical Appointee/s relating to a topic specified by KP, in order to enable KP
                                            and the KP Technical Appointee/s to effectively operate and/or maintain the PPM Kell Plant.

 

		10.2	KP
                                            will have the right to request from Lifezone, for a period of up to 24 months after the Commercial
                                            Product Date, any further assistance which may reasonably be required to enable KP to effectively
                                            operate 

 

    22

     

    

 

and/or
maintain the PPM Kell Plant and use the Kelltechnology. Lifezone will, subject to being paid hourly rates consistent with the terms of
this Agreement, provide the requested documentation, materials and/or information to KP.

 

		11.	Limitation
                                            of liability

 

		11.1	The
                                            maximum aggregate liability of Lifezone with respect to any and all claims under this Agreement
                                            in any consecutive twelve month period, whether in contract, delict (including negligence),
                                            for breach of statutory duty, or otherwise, shall be limited in respect of all claims (connected
                                            or unconnected) in any such consecutive twelve month period, to the equivalent of the total
                                            Service Fees actually paid by KP to Lifezone in the preceding twelve months, provided that
                                            the maximum aggregate liability of Lifezone with respect to any and all claims under this
                                            Agreement shall be limited to the aggregate of Service Fees paid by KP to Lifezone in the
                                            first 12 months of this Agreement or the period from the Effective date to Termination whichever
                                            is the lesser time.

 

		11.2	This
                                            Clause 11 shall not limit liability of Lifezone in any case of corrupt acts, fraud, deliberate
                                            default or reckless misconduct by it or any of the Lifezone Appointees.

 

		12.	Insurance

 

		12.1	KP
                                            will be responsible for obtaining and maintaining appropriate insurance policies in relation
                                            to the PPM Kell Plant and the PPM Kell Plant Site.

 

		12.2	If
                                            as a matter of law KP cannot obtain the relevant insurance in its own name or if Lifezone
                                            is, as a matter of Law or as agreed to between the Parties, required to take out and maintain
                                            any insurance policies in relation to the performance of the Services, then:

 

    23

     

    

 

		(a)	Lifezone
                                            shall, upon reaching agreement with KP, obtain and maintain such insurance policies in a
                                            form acceptable to KP;

 

		(b)	Lifezone
                                            shall ensure that such insurance policy is obtained with a reputable insurer with a level
                                            of cover and on such terms as are consistent with Reasonable and Prudent Standards for the
                                            duration of this Agreement;

 

		(c)	Lifezone
                                            undertakes to provide KP with evidence of the procurement of such insurance cover; and

 

		(d)	KP
                                            undertakes to reimburse Lifezone for any costs and premiums incurred and paid by Lifezone
                                            in relation to the procurement and maintenance of any such insurance policy.

 

		13.	Termination

 

		13.1	If
                                            there is any decision to delay or abort the development of the PPM Kell Plant the Parties
                                            will negotiate in good faith to modify this Agreement. Should the Parties fail to reach agreement
                                            on the modifications to be made as a result of the decision to delay or abort within 30 days,
                                            without prejudice to any other rights or remedies which the Parties may have, KP shall be
                                            entitled to terminate the KP Services by giving 60 days written notice to Lifezone.

 

		13.2	Without
                                            affecting any other right or remedy available to it, KP shall be entitled to terminate this
                                            Agreement following the second anniversary of the Effective Date, by giving not less than
                                            90 days’ written notice to Lifezone.

 

		13.3	Notwithstanding
                                            clause 13.1 and 13.2 and without prejudice to any other rights or remedies which the Parties
                                            may have, either Party may terminate this Agreement without liability to the other immediately
                                            on giving notice to the other if:

 

		(a)	the
                                            KTSA Licence is terminated for any reason;

 

    24

     

    

 

		(b)	the
                                            other Party fails to pay any amount due under this Agreement on the due date for payment
                                            and remains in default not less than 14 days after being notified in writing to make such
                                            payment other than in instances where there is a bona fide dispute between the Parties as
                                            to whether the Party claiming payment has discharged its reciprocal obligations pursuant
                                            to which such payment is to be made and the other Party withholds payment of fees relevant
                                            to such dispute pending the resolution of such dispute; or

 

		(c)	the
                                            other Party commits a material breach of any of the material terms of this Agreement and
                                            (if such a breach is remediable) fails to remedy that breach within 30 days of that Party
                                            being notified in writing of the breach; or

 

		(d)	[***]
                                                                                                                                                                                                                                    and/or Lifezone commits a material breach of any of the material terms of the Deed of Undertaking and (if such a breach is
                                                                                                                                                                                                                                    remediable) fails to remedy that breach within 30 days (or such later period as KP may elect in its sole discretion) of being
                                                                                                                                                                                                                                    notified in writing of the breach; or

 

		(e)	the
                                            other Party suspends, or threatens to suspend, payment of its debts, is unable to pay its
                                            debts as they fall due, admits inability to pay its debts; or

 

		(f)	the
                                            other Party commences negotiations with all, or any class of, its creditors with a view to
                                            rescheduling any of its debts, or makes a proposal for, or enters into any compromise or
                                            arrangement with, its creditors other than for the sole purpose of a scheme for a solvent
                                            amalgamation of that Party with one or more other companies, or the solvent reconstruction
                                            of that Party; or

 

		(g)	an
                                            order is made, for or in connection with the winding up of the other Party other than for
                                            the sole purpose of a scheme for a solvent amalgamation of that Party with one or more other
                                            companies, or the solvent reconstruction of that Party; or

 

    25

     

    

 

		(h)	an
                                            administrator is appointed over the other Party; or

 

		(i)	a
                                            floating charge holder over the material assets of the other Party has appointed an administrative
                                            receiver; or

 

		(j)	a
                                            receiver is appointed over the material assets of the other Party; or

 

		(k)	any
                                            event occurs with respect to the other Party in any jurisdiction to which it is subject that
                                            has an effect equivalent or similar to any of the events mentioned in clause 13.3(f) to
                                            13.3(j) inclusive; or

 

		(l)	the
                                            other Party suspends or ceases to carry on all or a substantial part of its business.

 

		13.4	Without
                                            prejudice to any other rights or remedies which KP may have, KP may terminate this Agreement
                                            without liability to Lifezone immediately on giving notice to Lifezone if Lifezone ceases
                                            to own shares in KellTech.

 

		13.5	On
                                            termination of this Agreement for any reason:

 

		(a)	KP
                                            shall immediately pay to Lifezone all amounts due, owing and payable under this Agreement;

 

		(b)	the
                                            accrued rights, remedies, obligations and liabilities of the Parties as at term ination shall
                                            not be affected, including the right to claim damages in respect of any breach of the Agreement
                                            which existed at or before the date of termination; and

 

		(c)	clauses
                                            which expressly or by implication have effect after termination shall continue in full force
                                            and effect, including the following clauses: clause 8 (Quality of services), clause 9 (Confidentiality),
                                            clause 10 (Application and Training), clause 11 (Limitation of liability), clause 13.5, clause
                                            17 (Notices), clause 18 (Dispute resolution), and clause 19 (Governing law and jurisdiction).

 

    26

     

    

 

		14.	Force
                                            majeure

 

		14.1	A
                                            Party is not liable for a failure to perform any of its obligations under this Agreement
                                            in so far as it proves:

 

		(a)	that
                                            the failure was due to an impediment beyond its control and without the fault, negligence
                                            or breach of contract;

 

		(b)	that
                                            it could not reasonably be expected to have taken the impediment and its effects upon the
                                            Party’s ability to perform into account at the time of the conclusion of the contract;
                                            and

 

		(c)	that
                                            it could not reasonably have avoided or overcome the impediment or at least its effects.

 

		14.2	An
                                            impediment in clause 14.1 may result from events such as the following, this enumeration
                                            not being exhaustive:

 

		(a)	war,
                                            whether declared or not, civil war, civil violence, riots and revolution, acts of piracy,
                                            acts of sabotage;

 

		(b)	natural
                                            disasters such as violent storms, cyclones, earthquakes , tidal waves, floods, destruction
                                            by lightening;

 

		(c)	explosions,
                                            fire, destruction of machines, of factories and of any kind of installations;

 

		(d)	boycotts,
                                            strikes and lock-outs of all kinds, go-slow, occupation of factories and premises, and work
                                            stoppages;

 

		(e)	acts
                                            of authority, whether lawful or unlawful, apart from acts for which the Party seeking relief
                                            has assumed the risk by virtue of any other provisions of this Agreement; and apart from
                                            the matters mentioned in clause 14.3.

 

		14.3	For
                                            the purposes of clause 14.1 “impediment” does not include lack of authorisations,
                                            of licenses, or permits or of approvals necessary for the performance of the Services.

 

    27

     

    

 

		14.4	Relief
                                            from liability for non-performance by reason of the provisions of clause 14 shall commence
                                            on the date upon which the Party seeking relief gives notice of the impediment relied upon
                                            and shall terminate upon the date upon which such impediment ceases to exist; provided that
                                            if such impediment continues for a period of more than 6 (six) months either Party shall
                                            be entitled to terminate this Agreement by written notice to the other Party. For the avoidance
                                            of doubt, if Lifezone is prevented from performing the Services as a consequence of an impediment
                                            which satisfies the requirements of clause 14.1, KP shall not be required to pay the Services
                                            Fee in respect of any period during which Lifezone is prevented from performing the Services
                                            as a result of that impediment. The impediment, however, shall not apply to KP’s obligations
                                            to pay Lifezone any monies due and/or owing in terms of the Agreement.

 

		14.5	The
                                            Party seeking relief shall:

 

		(a)	as
                                            soon as reasonably practicable after the start of the impediment but no later than 7 days
                                            from its start, notify the other party in writing of the impediment, the date on which it
                                            started, it’s likely or potential duration, and the effect of the impediment on its
                                            ability to perform any of its obligations under the Agreement; and

 

		(b)	use
                                            all reasonable endeavours and take all reasonable steps to terminate the circumstances giving
                                            rise to the impediment and minimise the effect of such circumstances upon the performance
                                            of its obligations under this Agreement (to the extent that it is within its reasonable powers
                                            to do so).

 

		14.6	Notwithstanding
                                            any other provision of this clause 14, the occurrence of an impediment shall not relieve
                                            a Party from an obligation which arose before the occurrence of that impediment.

 

    28

     

    

 

		15.	General

 

		15.1	No
                                            variation of this Agreement shall be valid unless it is in writing and signed by or on behalf
                                            of each of the Parties.

 

		15.2	A
                                            waiver of any right or remedy under this Agreement is only effective if given in writing
                                            and shall not be deemed a waiver of any subsequent breach or default. A failure or delay
                                            by a Party to exercise any right or remedy provided under this Agreement or by law shall
                                            not constitute a waiver of that or any other right or remedy, nor shall it preclude or restrict
                                            any further exercise of that or any other right or remedy. No single or partial exercise
                                            of any right or remedy provided under this Agreement or by law shall preclude or restrict
                                            the further exercise of any such right or remedy.

 

		15.3	If
                                            any court or competent authority finds that any provision of this Agreement (or part of any
                                            provision) is invalid, illegal or unenforceable, that provision or part-provision shall,
                                            to the extent required, be deemed to be deleted, and the validity and enforceability of the
                                            other provisions of this Agreement shall not be affected.

 

		15.4	This
                                            Agreement constitutes the entire agreement between the Parties in relation to its subject
                                            matter and supersedes and extinguishes all previous drafts, arrangements, understandings
                                            or agreements between them, whether written or oral, relating to the subject matter of this
                                            Agreement.

 

		15.5	Each
                                            Party acknowledges that, in entering into this Agreement, it does not rely on, and shall
                                            have no remedies in respect of, any representation or warranty (whether made innocently or
                                            negligently) that is not set out in this Agreement. Each Party agrees that its only liability
                                            in respect of those representations and warranties that are set out in this Agreement (whether
                                            made innocently or negligently) shall be for breach of contract.

 

		15.6	Nothing
                                            in this Agreement shall limit or exclude any liability for fraud.

 

    29

     

    

 

		15.7	Neither
                                            Party shall, without the prior written consent of the other, assign, transfer, charge, mortgage,
                                            subcontract or deal in any other manner with all or any of its rights or obligations under
                                            this Agreement. Nothing in this Agreement is intended to, or shall operate to, create a partnership
                                            between the Parties, or to authorise either Party to act as agent for the other, and neither
                                            Party shall have authority to act in the name or on behalf of or otherwise to bind the other
                                            in any way (including the making of any representation or warranty, the assumption of any
                                            obligation or liability and the exercise of any right or power).

 

		15.8	At
                                            all times during the performance of the Services, Lifezone shall be an independent contractor
                                            and is not an employee or agent of KP.

 

		16.	Rights
                                            of third parties

 

A
person who is not a Party to this Agreement shall not have any rights under or in connection with it.

 

		17.	Notices

 

		17.1	A
                                            notice or communication given to a Party under or in connection with this Agreement:

 

		(a)	shall
                                            be in writing;

 

		(b)	shall
                                            be signed by or on behalf of the Party giving it;

 

		(c)	shall
                                            be sent for the attention of the person, at the address or fax number specified in this clause
                                            (or to such other address, fax number or person as that Party may notify to the other, in
                                            accordance with the provisions of this clause); and

 

		(d)	shall
                                            be:

 

		(i)	delivered
                                            personally;

 

		(ii)	sent
                                            by commercial courier;

 

		(iii)	sent
                                            by email; or

 

    30

     

    

 

		(iv)	sent
                                            by pre-paid first-class post or recorded delivery.

 

		17.2	The
                                            addresses for service of a notice are as follows:

 

		(a)	Lifezone:

 

	 	(i)	Physical:	[***]
	 	(ii)	Postal:	[***]
	 	(iii)	Tel:	[***]
	 	(iv)	Email:	[***]
	 	(v)	Attention:	[***]
	 	(vi)	With
    a copy to:	[***]
	 	(vii)	And
    to:	[***]

 

		(b)	KP:

 

	 	(i)	Physical:	[***]
	 	(ii)	Postal:	[***]
	 	(iii)	Email:	[***]

 

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	 	(iv)	for
    the attention of:	[***]

 

		17.3	If
                                            a notice or other communication has been properly sent or delivered in accordance with this
                                            clause, it will be deemed to have been received as follows:

 

		(a)	if
                                            delivered personally, at the time of delivery; or

 

		(b)	if
                                            delivered by commercial courier, at the time of signature of the courier’s receipt;
                                            or

 

		(c)	if
                                            sent by email, on the business day immediately succeeding the date of successful transmission
                                            thereof; or

 

		(d)	if
                                            sent by pre-paid first-class post or recorded delivery, at 9.00 am on the second day after
                                            posting.

 

		17.4	For
                                            the purposes of this clause:

 

		(a)	all
                                            times are to be read as local time in the place of deemed receipt; and

 

		(b)	if
                                            deemed receipt under this clause is not within business hours (meaning 9.00 am to 5.30 pm
                                            Monday to Friday on a day that is not a public holiday in the place of receipt), the notice
                                            or other communication is deemed to have been received when business next starts in the place
                                            of receipt.

 

		18.	Dispute
                                            resolution

 

		18.1	Amicable
                                            Settlement

 

If
any dispute arises between the Parties, they shall use all reasonable endeavours to resolve the matter amicably and in good faith. If
one Party gives the other Party notice that a dispute has arisen and the Parties are unable to resolve such dispute within 30 (thirty)
days of service of such notice, then such dispute shall be referred to the respective chairmen or chief executives or other nominated
senior representative of the Parties.

 

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No
Party shall resort to arbitration against the other Party under this Agreement until at least 30 (thirty) days after such referral. This
shall not affect a Party’s right to seek interim relief.

 

		18.2	Arbitration

 

		(a)	Unless
                                            provided for to the contrary in this Agreement, a dispute which arises in regard to:

 

		(i)	the
                                            interpretation of;

 

		(ii)	the
                                            carrying into effect of;

 

		(iii)	any
                                            of the Parties’ rights and obligations arising from;

 

		(iv)	the
                                            termination or purported termination of or arising from the termination of; or

 

		(v)	the
                                            rectification or proposed rectification of this Agreement, or out of or pursuant to this
                                            Agreement or on any matter which in terms of this Agreement requires agreement by the Parties,
                                            (other than where an interdict is sought or urgent relief may be obtained from a court of
                                            competent jurisdiction),

 

and
which is not resolved in accordance with clause 18.1, shall be submitted to and decided by arbitration under the rules of the London
Court of International Arbitration (the “LCIA Rules”) and such rules are deemed to be incorporated by reference into
this clause.

 

		(b)	The
                                            seat and place of arbitration shall be in the Republic of South Africa with only the Parties
                                            and their representatives present thereat.

 

		(c)	The
                                            Parties shall use their reasonable endeavours to procure the expeditious completion of the
                                            arbitration.

 

    33

     

    

 

		(d)	Save
                                            as expressly provided in this Agreement to the contrary, the arbitration shall be subject
                                            to the arbitration legislation for the time being in force in the Republic of South Africa.

 

		(e)	There
                                            shall be one arbitrator who shall, if the question in issue is:

 

		(i)	primarily
                                            a legal matter, a practising senior counsel or, alternatively, a practising attorney of not
                                            less than 15 (fifteen) years’ experience as an attorney; or

 

		(ii)	any
                                            other matter, a suitably qualified person.

 

		(f)	The
                                            appointment of the arbitrator shall be agreed upon by the Parties in writing or, failing
                                            agreement by the Parties within 10 (ten) business days after the arbitration has been demanded,
                                            at the request of any of the Parties shall be nominated by the LCIA Court in accordance with
                                            the LCIA Rules.

 

		(g)	The
                                            Parties shall keep the evidence in the arbitration proceedings and any order made by any
                                            arbitrator confidential unless otherwise contemplated herein.

 

		(h)	The
                                            arbitrator shall be obliged to give his award in writing fully supported by reasons.

 

		(i)	The
                                            provisions of this clause are severable from the rest of this Agreement and shall remain
                                            in effect even if this Agreement is terminated for any reason.

 

		(j)	The
                                            arbitrator shall have the power to give default judgment if any Party fails to make submissions
                                            on due date and/or fails to appear at the arbitration, which judgment the arbitrator shall
                                            be entitled to rescind on good cause shown in terms of the legal principles applicable to
                                            rescission of judgments.

 

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		19.	Governing
                                            law and jurisdiction

 

		19.1	This
                                            Agreement and any dispute or claim arising out of or in connection with it or its subject
                                            matter or formation (including non-contractual disputes or claims), shall be governed by,
                                            and construed in accordance with, the law of the Republic of South Africa.

 

		19.2	Notwithstanding
                                            anything to the contrary contained in clause 18, either Party shall be entitled to apply
                                            for any interdict (or any other matter that cannot be resolved pursuant to clause 18) to
                                            be heard by any competent court having jurisdiction. In this regard, the Parties submit to
                                            the nonexclusive jurisdiction of the courts of the Republic of South Africa.

 

This
Agreement has been entered into on the date stated at the beginning of it.

 

Execution
page follows:

 

    35

     

    

 

	FOR	LIFEZONE
    LIMITED	 
	 	 	 
	Signature:	ILLEGIBLE 	 
	  	who
    warrants that he / she is duly authorised thereto	 
	 	 	 
	Name:	[***]	 
	 	 	 
	Date:	 24
    October 2021	 
	 	 	 
	Place:	 [***]	 
	 	 	 
	FOR	KELLPLANT
    PROPRIETARY LIMITED	 
	 	 	 
	Signature:	 	 
	  	who
    warrants that he / she is duly authorised thereto	 
	 	 	 
	Name:	 
	 
	 	 	 
	Date:	 	 
	 	 	 
	Place:	 	 
	 	 	 

 

    36

     

    

 

Schedules
and other similar attachments to this exhibit have been omitted pursuant to Item 601(a)(5) of Regulation S-K.

 

Schedule
1 – Map

Schedule
2 - Personnel involved in rendering the Services and percentage of hours to be spent by each such Lifezone Appointee

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