Document:

EXHIBIT
10.2 

QUANTUM CORPORATION

EMPLOYEE STOCK PURCHASE
PLAN 

(As Amended and Restated
September 9, 2014) 

     The following constitute the provisions
of the Employee Stock Purchase Plan (herein called the “Plan”) of Quantum
Corporation (herein called the “Company”). 

     1. Purpose. The purpose of
the Plan is to provide Employees of the Company and its Designated Subsidiaries
with an opportunity to purchase Common Stock of the Company through accumulated
payroll deductions or other contributions. It is the intention of the Company to
have the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of
the Code, although the Company makes no undertaking or representation to
maintain such qualification. The provisions of the Plan shall, accordingly, be
construed so as to extend and limit participation in a manner consistent with
the requirements of that section of the Code. In addition, this Plan document
authorizes the purchase of Common Stock under a Non-423(b) Component, pursuant
to rules, procedures or sub-plans adopted by the Board or a committee appointed
by the Board and designed to achieve tax, securities law or other
objectives.

     2. Definitions. 

          (a)
“Board” shall mean the Board of Directors of the
Company. 

          (b)
“Code” shall mean the Internal Revenue Code of 1986, as
amended. Any reference to a section of the Code herein will be a reference to
any successor or amended section of the Code. 

          (c)
“Code Section 423(b)
Plan” shall mean an employee
stock purchase plan which is designed to meet the requirements set forth in
Section 423(b) of the Code, as amended. The provisions of the Code Section
423(b) Plan should be construed, administered and enforced in accordance with
Section 423(b) of the Code. 

          (d)
“Common Stock” shall mean the common stock of the Company.

          (e)
“Company” shall mean Quantum Corporation, a Delaware
corporation. 

          (f)
“Compensation” shall mean all regular straight time earnings,
payments for overtime, shift premium, incentive compensation, incentive
payments, bonuses and commissions (except to the extent that the exclusion of
any such items for all participants is specifically directed by the Board or a
committee appointed by the Board). The Board or a committee appointed by the
Board shall have the power and discretion to (i) change the definition of
Compensation for future Offering Periods, and (ii) determine what constitutes
Compensation for Employees outside of the United States. 

1

          (g) “Continuous Status as an
Employee” shall mean the absence of any
interruption or termination of service as an Employee. Continuous Status as an
Employee shall not be considered interrupted in the case of: (i) a leave of
absence agreed to in writing by the Company, provided that such leave is for a
period of not more than three (3) months or re-employment upon the expiration of
such leave is guaranteed by contract or statute; or (ii) notification by the
Company of termination under a reduction-in-force. Termination of participation
in the Plan in the case of a reduction-in-force shall be considered to have
occurred upon the earlier of (x) the end of the employee’s continuation period,
or (y) the first (1st) day after the three (3) month period
immediately following the cessation of his or her employment services with the
Company, provided, in each case, that he or she will not be entitled to
participate in any Offering Period for which the Enrollment Date occurs after
the cessation of his or her employment services with the Company. 

          (h)
“Designated Subsidiaries” shall mean the Subsidiaries which have been designated by
the Board or a committee appointed by the Board from time to time in its sole
discretion as eligible to participate in the Plan.

          (i)
“Employee”
shall mean any person, including an officer, who is employed by the Company or
one of its Designated Subsidiaries. The Board or a committee appointed by the
Board, in its discretion, from time to time may, prior to an Enrollment Date for
all options to be granted on such Enrollment Date, determine (on a uniform and
nondiscriminatory basis or as otherwise permitted by Treasury Regulation Section
1.423-2(f)) that the definition of Employee under the Plan or with respect to
an Offering will or will not include an individual if he or she: (i) has not
completed at least two (2) years of service since his or her last hire date (or
such lesser period of time as may be determined by the Board or a committee
appointed by the Board in its discretion), (ii) customarily works not more than
twenty (20) hours per week or not more than five (5) months per calendar year
(or such lesser period of time as may be determined by the Board or a committee
appointed by the Board in its discretion), or (iii) is a highly compensated
employee under Section 414(q) of the Code.

          (j)
“Enrollment Date” shall mean the first Trading Day on or after every February 6 and
August 6 of each year. 

          (k)
“Exercise Date” shall mean the date approximately six months after the Enrollment Date
of an Offering Period and shall be one Trading Day prior to an Enrollment Date
of the immediately following Offering Period.

          (l)
“Fair Market Value” shall mean, as of any date, the closing sales price of the Common Stock
(or the closing bid, if no sales were reported) as quoted on the stock exchange
with the greatest volume of trading in Common Stock on the last market trading
day prior to the date of determination, as reported in The Wall Street Journal or
such other source as the Board or a committee appointed by the Board deems
reliable. 

          (m)
“New Exercise Date” shall mean a new Exercise Date if the Board or a committee appointed by
the Board shortens any Offering Period then in progress. 

          (n)
“Non-423(b) Component” shall mean the grant of an option under the Plan which is
not intended to meet the requirements set forth in Section 423(b) of the Code,
as amended. 

          (o)
“Offering”
shall mean an offer of an option under the Plan that may be exercised during an
Offering Period. For purposes of the Plan, the Board or a committee appointed by
the Board may designate separate Offerings under the Plan in which Employees of
one or more employers will participate, even if
the dates of the applicable Offering Periods of each such Offering are identical
and the provisions of the Plan will apply separately to each Offering. To the
extent permitted by Treasury Regulations Section 1.432-2(a)(1), the terms of
each Offering need not be identical provided that the terms of the Plan and an
Offering together satisfy Treasury Regulation Sections 1.423-2(a)(2) and
(a)(3).

2

          (p) “Offering
Period” shall mean a period commencing on an
Enrollment Date and ending on the Exercise Date, approximately six (6) months
later, or as otherwise set forth in Section 4 hereof. 

          (q)
“Parent”
shall mean a “parent corporation,” whether now or hereafter existing, as defined
in Section 424(e) of the Code. 

          (r)
“Plan”
shall mean this Employee Stock Purchase Plan, which includes a Code Section
423(b) Plan and a Non-423(b) Component. 

          (s)
“Purchase Price” shall have the meaning as set forth in Section 7(b). 

          (t)
“Subsidiary” shall mean a corporation, domestic or foreign, of which not less than
50% of the voting shares are held by the Company or a Subsidiary, whether or not
such corporation now exists or is hereafter organized or acquired by the Company
or a Subsidiary. 

          (u)
“Trading Day” shall mean a day on which the New York Stock Exchange is open for
trading. 

    
3. Eligibility 

          (a) Any
Employee (as defined in Section 2) who shall be employed by the Company or one
of its Designated Subsidiaries on the date his or her participation in the Plan
is effective shall be eligible to participate in the Plan, unless the Company,
in its discretion, decides that such participation would infringe any U.S. or
foreign law, rules or regulations. 

          (b) Any
provisions of the Plan to the contrary notwithstanding, no Employee shall be
granted an option under the Plan (i) if, immediately, after the grant, such
Employee (or any other person whose stock would be attributed to such Employee
pursuant to Section 424(d) of the Code) would own shares and/or hold outstanding
options to purchase stock possessing five percent (5%) or more of the total
combined voting power or value of all classes of stock of the Company or of any
Subsidiary, or (ii) which permits his or her rights to purchase shares under all
employee stock purchase plans (as defined in Section 423 of the Code) of the
Company and its Subsidiaries to accrue at a rate which exceeds Twenty-Five
Thousand Dollars (US$25,000) of the fair market value of the shares (determined
at the time such option is granted) for each calendar year in which such option
is outstanding at any time. 

          (c) No
employee of the Company or a Designated Subsidiary shall be eligible to
participate in the Non-423(b) Component of the Plan if he or she is an officer
or director of the Company subject to the requirements of Section 16 of the U.S.
Securities Exchange Act of 1934, as amended (the “Act”). 

          (d)
Employees who are citizens or residents of a non-U.S. jurisdiction (without
regard to whether they also are citizens or residents of the U.S. or resident
aliens of the U.S. (within the meaning of Section 7701(b)(1)(A) of the Code))
may be excluded from participation in the Plan or an Offering if the
participation of such Employees is prohibited under the laws of the applicable
jurisdiction or if complying with the laws of the
applicable jurisdiction would cause the Plan or an Offering to violate Code
Section 423. In the case of the Non-423 Component, Employees may be excluded
from participation in the Plan or an Offering if the Board or a committee
appointed by the Board has determined that participation of such Employees is
not advisable or practicable. 

3

     4.
Offering Dates. The Plan shall be implemented by consecutive Offering Periods with a
new Offering Period commencing on an Enrollment Date, and shall continue
thereafter until terminated in accordance with Section 19 hereof. The Board or a
committee appointed by the Board shall have the power to change the duration of
Offering Periods with respect to future Offerings. In no event shall the
duration of an Offering Period exceed nine (9) months. Notwithstanding the
foregoing, no offers hereunder shall be made until compliance with all
applicable securities law has been obtained. 

    
5. Participation. 

          (a) An
eligible Employee may become a participant in the Plan by completing a
subscription agreement authorizing payroll deductions in the form and manner
determined by the Company in its discretion from time to time. The Company, in
its discretion, may decide that all participants in a specified Offering may
submit contributions to the Plan by means other than payroll deductions.

          (b) Payroll
deductions to the Plan for a participant shall commence on the first payroll
following the Enrollment Date and shall end on the last payroll date in the
Offering Period to which such authorization is applicable, unless sooner
terminated by the participant as provided in Section 10. If participants are
permitted or required to contribute to the Plan by other means, the Company, in
its discretion, will determine the procedure for providing the contributions
prior to the Exercise Date. 

    
6. Payroll
Deductions/Contributions. 

          (a) At the
time a participant files his or her subscription agreement, he or she shall
elect to contribute to the Plan (in the form of payroll deductions or otherwise)
on each payday during the Offering Period at a rate not exceeding ten percent
(10%) of the Compensation which he or she received on such payday, and the
aggregate of such payroll deductions pursuant to the Plan during the Offering
Period shall not exceed ten percent (10%) of his or her aggregate Compensation
during said Offering Period. A participant’s subscription agreement shall remain
in effect for successive Offering Periods unless terminated as provided in
Section 10 hereof.

          (b) All
contributions made for a participant shall be credited to his or her account
under the Plan.

          (c) A
participant may discontinue participation in the Plan as provided in Section 10,
or may change the rate of payroll deductions or other contributions by
submitting written notice to the Company in the form and manner prescribed by
the Board or a committee appointed by the Board (or its designee) authorizing a
change in the participant’s payroll deduction or contribution rate. The change
rate shall be effective (i) in the case of a decrease in rate, with the first
payroll period following the Company’s receipt of the notice of rate change, and
(ii) in the case of an increase in rate at the beginning of the next Offering
Period following the Company’s receipt of the notice of rate change. If a
participant has not followed the procedures prescribed by the Board or a
committee appointed by the Board (or its designee) to change the rate of payroll
deductions or other contributions, the rate of his or her payroll deductions or
other contributions will continue at the originally elected rate throughout the
Offering Period and future Offering Periods (unless terminated as provided in
Section 10). The Board or a committee appointed by the Board may, in its sole discretion, limit the nature and/or number of
payroll deduction or contribution rate changes that may be made by participants
during any Offering Period.

4

     7.
Grant of Option. 

          (a) On the
Enrollment Date of each Offering Period, each eligible Employee participating in
such Offering Period shall be granted an option to purchase on the Exercise Date
during such Offering Period up to a number of shares of the Company’s Common
Stock determined by dividing such Employee’s contributions to the Plan
accumulated during the Offering Period ending on such Exercise Date by the lower
of (i) eighty-five percent (85%) of the Fair Market Value of a share of the
Company’s Common Stock on the Enrollment Date, or (ii) eighty-five (85%) of the
Fair Market Value of a share of the Company’s Common Stock on the Exercise Date;
provided that in no event shall an Employee be permitted to purchase in one
calendar year more than a number of shares determined by dividing US$25,000 by
the Fair Market Value of a share of the Company’s Common Stock (determined at
the time such option is granted), and provided further that such purchase shall
be subject to the limitations set forth in Sections 3(b) and 12 hereof. The
option shall be automatically exercised on the Exercise Date during the Offering
Period, unless the participant has withdrawn pursuant to Section 10, and shall
expire on the last day of the Offering Period.

          (b) The
purchase price per share of the shares offered in a given Offering Period shall
be the lower of: (i) 85% of the Fair Market Value of a share of the Common Stock
of the Company on the Enrollment Date; or (ii) 85% of the Fair Market Value of a
share of the Common Stock of the Company on the Exercise Date (such price, the
“Purchase Price”).

          (c)
Notwithstanding the foregoing, to the extent necessary to comply with Section
423(b)(8) of the Code and Section 3(b) herein, a participant’s contributions may
be decreased to 0% at such time during any Offering Period which is scheduled to
end during the current calendar year that the aggregate of all contributions
accumulated with respect to such Offering Period and any other Offering Period
ending within the same calendar year equal $21,250. Contributions shall
recommence at the rate provided in such participant’s subscription scheduled to
end in the following calendar year, unless terminated by the participant as
provided in Section 10. 

          (d) If the
Board or a committee appointed by the Board determines, in its sole discretion,
that the exercise of an option or the disposition of Common Stock issued under
the Plan will result in tax liability for which the Company or a Designated
Subsidiary will have an obligation to withhold, the participant must make
adequate provision for the payment of such federal, state, local and foreign
income, social insurance, employment and any other applicable taxes. At any
time, the Company or the Designated Subsidiary may, but will not be obligated
to, withhold from the participant’s compensation the amount necessary for the
Company or the Designated Subsidiary to meet applicable withholding obligations,
including any withholding required to make available to the Company or the
Designated Subsidiary any tax deductions or benefits attributable to the sale or
early disposition of Common Stock by the eligible Employee. 

    
8. Exercise of Option. The participant’s option for the purchase of shares will be
exercised automatically on each Exercise Date of each Offering Period and the
maximum number of full shares subject to the option will be purchased for such
participant at the applicable Purchase Price with the accumulated payroll
deductions or other contributions in his or her account unless prior to such
Exercise Date the participant has withdrawn from the Offering Period as provided
in Section 10 or unless any of the limitations under Sections 3, 7 or 12 would
be exceeded. During a participant’s lifetime, a participant’s option to purchase
shares hereunder is exercisable only by the participant. No fractional shares
shall be purchased; any payroll deductions or
other contributions accumulated in a participant’s account which are not
sufficient to purchase a full share, or which would cause the limitations under
Sections 3, 7 or 12 hereof to be exceeded, shall be returned to the participant
after the Exercise Date. 

5

     9.
Delivery.
As promptly as practicable after each Exercise Date, the Company shall arrange
the delivery to each participant, as appropriate, the shares of Common Stock
purchased upon exercise of the option. The Company may permit or require that
shares be deposited directly with a broker designated by the Company or to a
designated agent of the Company, and the Company may utilize electronic or
automated methods of share transfer. The Company may require that shares be
retained with such broker or agent for a designated period of time and/or may
establish other procedures to permit tracking of disqualifying dispositions of
such shares. No participant will have any voting, dividend, or other stockholder
rights with respect to shares of Common Stock subject to any option granted
under the Plan until such shares have been purchased and delivered to the
participant as provided in this Section 9. 

    
10. Withdrawal; Termination of
Employment. 

          (a) A
participant may withdraw all but not less than all the contributions credited to
his or her account under the Plan at any time prior to the end of the Offering
Period by giving written notice to the Company in the form and manner prescribed
by the Board or a committee appointed by the Board for such purpose. All of the
participant’s contributions credited to his or her account will be paid to him
or her promptly after receipt of his or her notice of withdrawal and his or her
option for the current Offering Period will be automatically terminated, and no
further contributions for the purchase of shares will be made during the
Offering Period. If a participant withdraws from an Offering Period,
contributions may not resume at the beginning of the succeeding Offering Period
unless the participant delivers to the Company a new subscription agreement.

          (b) Upon
termination of the participant’s employment prior to the end of the Offering
Period for any reason, including retirement or death, the contributions credited
to his or her account will be returned to him or her or, in the case of his or
her death, to the person or persons entitled thereto under Section 14, and his
or her option will be automatically terminated; provided that if an Employee
shall take a leave of absence approved by the Company in accordance with Section
2(g) of this Plan during an Offering Period in which the Employee is a
participant, the participant will be deemed to have his or her contributions
reduced to 0% during such leave of absence, but he or she shall continue to be a
participant in the applicable Offering Period and upon his or her return to
employment with the Company shall be eligible to participate fully in any
remaining portion of the applicable Offering Period. If the participant fails to
return to employment with the Company at the end of such authorized leave of
absence, or if his or her employment is otherwise terminated earlier, he or she
shall be deemed to have withdrawn from participation in the Plan. 

          (c) A
participant’s withdrawal from an Offering Period will not have any effect upon
his or her eligibility to participate in any similar plan which may hereafter be
adopted by the Company or in succeeding Offering Periods. 

          (d) A
participant whose employment transfers between entities through a termination
with an immediate rehire (with no break in service) by the Company or a
Designated Subsidiary will not be treated as terminated under the Plan; however,
if a participant transfers from an Offering under the 423 Component to the
Non-423 Component, the exercise of the option will be qualified under the 423
Component only to the extent it complies with Code Section 423. 

6

     11.
Interest.
No interest shall accrue on the contributions of a participant in the Plan,
unless required by applicable law, as determined by the Company, and if so
required by the laws of a particular jurisdiction, will apply to all
participants in the relevant Offering under the 423 Component, except to the
extent otherwise permitted by U.S. Treasury Regulation Section 1.423-2(f).

    
12. Stock. 

          (a) The
maximum number of shares of the Company’s Common Stock which shall be made
available for sale under the Plan shall be 26,234,637, subject to adjustment
upon changes in capitalization of the Company as provided in Section 18. In
addition, in no event shall more than 2,000,000 shares of the Company’s Common
Stock (subject to adjustment upon changes in capitalization of the Company as
provided in Section 18) be made available for sale under the Plan in any one
Offering Period. Furthermore, the Company, in its discretion, may decide to
impose a limit on the number of shares of the Company’s Common Stock that each
participant may purchase during any one Offering Period. If the total number of
shares which would otherwise be subject to options granted pursuant to Section
7(a) hereof at the beginning of an Offering Period exceeds the number of shares
then available under the Plan (after deduction of all shares for which options
have been exercised or are then outstanding) or the 2,000,000 share limit for
any Offering Period, the Company shall make a pro rata allocation of the shares
remaining available for option grant in as uniform a manner as shall be
practicable and as it shall determine to be equitable. In such event, the
Company shall give written notice of such reduction of the number of shares
subject to the option to each Employee affected thereby and shall similarly
reduce the rate of contributions, if necessary. 

          (b) Until
the shares are issued (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company), a participant
will only have the rights of an unsecured creditor with respect to such shares,
and no right to vote or receive dividends or any other rights as a stockholder
will exist with respect to such shares. 

          (c) Shares
to be delivered to a participant under the Plan will be registered in the name
of the participant or in the name of the participant and his or her spouse, or
as otherwise directed by the participant. 

    
13. Administration. The Plan shall be administered by the Board or a committee
appointed by the Board. The Board or a committee appointed by the Board will
have full and exclusive discretionary authority to construe, interpret and apply
the terms of the Plan, to designate separate Offerings under the Plan, to
determine eligibility, to adjudicate all disputed claims filed under the Plan
and to establish such procedures that it deems necessary for the administration
of the Plan (including, without limitation, to adopt such procedures and
sub-plans as are necessary or appropriate to permit the participation in the
Plan by employees who are foreign nationals or employed outside the U.S., the
terms of which sub-plans may take precedence over other provisions of this Plan,
with the exception of Section 12(a), but unless otherwise superseded by the
terms of such sub-plan, the provisions of this Plan shall govern the operation
of such sub-plan). Unless otherwise determined by the Board or a committee
appointed by the Board, the Employees eligible to participate in each sub-plan
will participate in a separate Offering. Without limiting the generality of the
foregoing, the Board or a committee appointed by the Board is specifically
authorized (in its discretion) to adopt rules and procedures regarding
eligibility to participate, the form and manner for making elections under the
Plan, the definition of Compensation, handling of Contributions, making of
Contributions to the Plan (including, without limitation, in forms other than
payroll deductions), establishment of bank or trust accounts to hold
Contributions, payment of interest (if any), conversion of local currency,
obligations to pay payroll tax, determination of beneficiary designation
requirements and withholding procedures and handling of stock certificates that
vary with applicable local requirements. The Board of a committee appointed by
the Board also is authorized to determine that, to the extent permitted by U.S.
Treasury Regulation Section 1.423-2(f), the terms of an option granted under
the Plan or an Offering to citizens or residents of a non-U.S. jurisdiction will
be less favorable than the terms of options granted under the Plan or the same
Offering to employees resident solely in the U.S. Every finding, decision,
interpretation and determination made by the Board of a committee appointed by
the Board will, to the full extent permitted by law, be final and binding upon
all parties.

7

     14.
Designation of Beneficiary. 

          (a)
Unless otherwise determined by the Company, a participant may file a written
designation of a beneficiary who is to receive any shares and cash, if any, from
the participant’s account under the Plan in the event of such participant’s
death subsequent to the end of the Offering Period but prior to delivery to him
or her of such shares and cash. In addition, unless otherwise determined by the
Company, a participant may file a written designation of a beneficiary who is to
receive any cash from the participant’s account under the Plan in the event of
such participant’s death prior to the end of the Offering Period. 

          (b)
Unless otherwise determined by the Company, such designation of beneficiary may
be changed by the participant at any time by written notice to the Company in
the form and manner prescribed by the Board or a committee appointed by the
Board for such purpose. In the event of the death of a participant and in the
absence of a beneficiary validly designated under the Plan who is living at the
time of such participant’s death, the Company shall deliver such shares and/or
cash to the executor or administrator of the estate of the participant, or if no
such executor or administrator has been appointed (to the knowledge of the
Company), the Company, in its discretion, may deliver such shares and/or cash to
the spouse or to any one or more dependents or relatives of the participant, or
if no spouse, dependent or relative is known to the Company, then to such other
person as the Company may designate or determine to be the appropriate
recipients of the shares and/or cash under applicable law. 

          (c)
All beneficiary designations will be in such form and manner as the Board or a
committee appointed by the Board may prescribe from time to time. 

     15. Transferability. Neither contributions
credited to a participant’s account nor any rights with regard to the exercise
of an option or to receive shares under the Plan may be assigned, transferred,
pledged or otherwise disposed of in any way (other than by will, the laws of
descent and distribution or as provided in Section 14 hereof) by the
participant. Any such attempt at assignment, transfer, pledge or other
disposition shall be without effect, except that the Company may treat such act
as an election to withdraw funds in accordance with Section 10. 

     16. Use of Funds. All contributions
received or held by the Company under the Plan may be used by the Company for
any corporate purpose, and the Company shall not be obligated to segregate such
contributions, except under Offerings or for participants in the Non-423
Component for which applicable laws require that contributions to the Plan by
participants be segregated from the Company’s general corporate funds and/or
deposited with an independent third party. Until shares of Common Stock are
issued, participants will only have the rights of an unsecured creditor with
respect to such shares. 

     17. Reports. Individual accounts will be
maintained for each participant in the Plan. Statements of account will be given
to participating Employees at least annually as promptly as practically feasible
following an Exercise Date, which statements will set forth the amounts of
contributions, the per share Purchase Price, the number of shares purchased and
the remaining cash balance, if any. 

8

     18.
Adjustments Upon Changes in
Capitalization. In the event that any
dividend or other distribution (whether in the form of cash, shares of Common
Stock, other securities, or other property), recapitalization, stock split,
reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
combination, repurchase, or exchange of shares of Common Stock or other
securities of the Company, or other change in the corporate structure of the
Company that affects the shares of Common Stock, then the Board or a committee
appointed by the Board shall, in such manner as it may deem equitable, adjust
the number and class of shares of Common Stock (or other securities, property or
cash) that may be delivered under the Plan, and the number, class, and price of
shares of Common Stock subject to any option under the Plan which has not yet
been exercised, as determined by the Board or a committee appointed by the Board
(in its sole discretion) to be appropriate in order to prevent dilution or
enlargement of the benefits or potential benefits intended to be made available
under the Plan.

     19. Amendment or Termination. 

          (a)
The Board may at any time and for any reason terminate or amend the Plan. Except
as provided in Section 18 hereof, no such termination can affect options
previously granted, provided that an Offering Period may be terminated by the
Board or a committee appointed by the Board on an Exercise Date if the Board or
its committee, as applicable, determines that the termination of the Offering
Period or the Plan is in the best interests of the Company and its shareholders.
Except as provided in Section 18 and this Section 19 hereof, no amendment may
make any change in any option theretofore granted which adversely affects the
rights of any participant. To the extent necessary to comply with Section 423 of
the Code (or any successor rule or provision or any other applicable law,
regulation or stock exchange rule), the Company shall obtain shareholder
approval in such a manner and to such a degree as required. 

          (b)
Without shareholder consent and without regard to whether any participant rights
may be considered to have been “adversely affected,” the Board (or its
committee) shall be entitled to change the Offering Periods, limit the frequency
and/or number of changes in the amount withheld during an Offering Period,
establish the exchange ratio applicable to amounts withheld in a currency other
than U.S. dollars, permit payroll withholding or contributing to the Plan in
excess of the amount designated by a participant in order to adjust for delays
or mistakes in the Company’s processing of properly completed withholding
elections, establish reasonable waiting and adjustment periods and/or accounting
and crediting procedures to ensure that amounts applied toward the purchase of
Common Stock for each participant properly correspond with amounts withheld from
the participant’s Compensation, and establish such other limitations or
procedures as the Board (or its committee) determines in its sole discretion
advisable which are consistent with the Plan. 

          (c) In
the event the Board or a committee appointed by the Board determines that the
ongoing operation of the Plan may result in unfavorable financial accounting
consequences, the Board or a committee appointed by the Board may, in its
discretion and, to the extent necessary or desirable, modify, amend or terminate
the Plan to reduce or eliminate such accounting consequence including, but not
limited to: 

               (i) amending the Plan to conform
with the safe harbor definition under the Financial Accounting Standards Board
Accounting Standards Codification Topic 718 (or any successor thereto),
including with respect to an Offering Period underway at the time; 

               (ii) altering the Purchase Price
for any Offering Period including an Offering Period underway at the time of the
change in Purchase Price; 

9

               (iii) shortening any Offering Period
by setting a New Exercise Date, including an Offering Period underway at the
time of the action by the Board or a committee appointed by the Board;

               (iv) reducing the maximum
percentage of Compensation a Participant may elect to set aside as payroll
deductions or other contributions; and 

               (v) reducing the maximum number of
shares of Common Stock a Participant may purchase during any Offering Period.

     Such modifications or amendments
shall not require stockholder approval or the consent of any Plan participants.

     20. Notices. All notices or other
communications by a participant to the Company under or in connection with the
Plan shall be deemed to have been duly given when received in the form specified
by the Company at the location, or by the person, designated by the Company for
the receipt thereof. 

     21. Stockholder Approval. If required by
Section 19, any amendment to the Plan shall be subject to approval by the
stockholders of the Company within twelve months before or after the date such
amendment is adopted. If such stockholder approval is obtained at a duly held
stockholders’ meeting, it may be obtained by the affirmative vote of the holders
of a majority of the outstanding shares of the Company present or represented
and entitled to vote thereon, which approval shall be: 

          (a)
solicited substantially in accordance with Section 14(a) of the Act and the
rules and regulations promulgated thereunder, or solicited after the Company
has furnished in writing to the holders entitled to vote substantially the same
information concerning the Plan as that which would be required by the rules and
regulations in effect under Section 14(a) of the Act at the time such
information is furnished; and 

          (b)
obtained at or prior to the first annual meeting of stockholders held subsequent
to the later of (i) the first registration of Common Stock under Section 12 of
the Act, or (ii) the acquisition of an equity security for which exemption is
claimed. 

          In the
case of approval by written consent, it must be obtained in accordance with
applicable state law. 

     22. Conditions Upon Issuance of Shares.
Shares shall not be issued with respect to an option unless the exercise of such
option and the issuance and delivery of such shares pursuant thereto shall
comply with all applicable provisions of law, domestic or foreign, including,
without limitation, the U.S. Securities Act of 1933, as amended, the Act, the
rules and regulations promulgated thereunder, and the requirements of any stock
exchange upon which the shares may then be listed, and shall be further subject
to the approval of counsel for the Company with respect to such
compliance.

     As a condition to the exercise of an
option, the Company may require the person exercising such option to represent
and warrant at the time of any such exercise that the shares are being purchased
only for investment and without any present intention to sell or distribute such
shares if, in the opinion of counsel for the Company, such a representation is
required by any of the aforementioned applicable provisions of law. 

10

     23.
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of
the Company, the Offering Period then in progress shall be shortened by setting
a New Exercise Date, and shall terminate immediately prior to the consummation
of such proposed dissolution or liquidation, unless provided otherwise by the
Board or a committee appointed by the Board. The New Exercise Date shall be
before the date of the Company’s proposed dissolution or liquidation. The Board
or a committee appointed by the Board shall notify each participant in writing,
at least ten (10) business days prior to the New Exercise Date, that the
Exercise Date for the participant’s option has been changed to the New Exercise
Date and that the participant’s option shall be exercised automatically on the
New Exercise Date, unless prior to such date the participant has withdrawn from
the Offering Period as provided in Section 10 hereof. 

     24. Merger or Asset Sale. In the event of
a merger of the Company with or into another corporation or the sale of
substantially all of the assets of the Company, each outstanding option shall be
assumed or an equivalent option substituted by the successor corporation or a
Parent or Subsidiary of the successor corporation. In the event that the
successor corporation refuses to assume or substitute for the option, the
Offering Period then in progress shall be shortened by setting a New Exercise
Date and such Offering Period shall end on the New Exercise Date. The New
Exercise Date shall be before the date of the Company’s proposed merger or asset
sale. The Board or a committee appointed by the Board shall notify each
participant in writing, at least ten (10) business days prior to the New
Exercise Date, that the Exercise Date for the participant’s option has been
changed to the New Exercise Date and that the participant’s option shall be
exercised automatically on the New Exercise Date, unless prior to such date the
participant has withdrawn from the Offering Period as provided in Section 10
hereof. 

     25. Code Section 409A. The Code Section
423(b) Plan is exempt from the application of Section 409A of the Code. The
Non-423(b) Component is intended to be exempt from Section 409A of the Code
under the short-term deferral exception and any ambiguities shall be construed
and interpreted in accordance with such intent. In the case of a participant who
would otherwise be subject to Section 409A of the Code, to the extent an option
to purchase shares of Common Stock or the payment, settlement or deferral
thereof is subject to Section 409A of the Code, the option to purchase shares of
Common Stock shall be granted, paid, exercised, settled or deferred in a manner
that will comply with Section 409A of the Code, including the final regulations
and other guidance issued with respect thereto, except as otherwise determined
by the Board or a committee appointed by the Board. Notwithstanding the
foregoing, the Company shall have no liability to a participant or any other
party if the option to purchase Common Stock under the Plan that is intended to
be exempt from or compliant with Section 409A of the Code is not so exempt or
compliant or for any action taken by the Board or a committee appointed by the
Board with respect thereto. 

     26. No Right to Employment. Participation
in the Plan by a participant will not be construed as giving a participant the
right to be retained as an employee of the Company or a Subsidiary, as
applicable. Further, the Company or a Subsidiary may dismiss a participant from
employment at any time, free from any liability or any claim under the Plan.

11

     27. Severability. If any provision of the
Plan is or becomes or is deemed to be invalid, illegal, or unenforceable for any
reason in any jurisdiction or as to any participant, such invalidity, illegality
or unenforceability will not affect the remaining parts of the Plan, and the
Plan will be construed and enforced as to such jurisdiction or participant as if
the invalid, illegal or unenforceable provision had not been included.

     28. Compliance with Applicable Laws. The
terms of this Plan are intended to comply with all applicable laws and will be
construed accordingly. 

     29.
Governing Law. Except to the extent that provisions of this Plan are governed by
applicable provisions of the Code or any other substantive provision of federal
law, this Plan shall be construed in accordance with, and shall be governed by,
the substantive laws of the State of California without regard to any provisions
of California law relating to the conflict of laws. 

12ex10_2.htm

 Exhibit 10.2 

 

	
 

 

 

 CONTRACT # LS2012-420 

 

 

 between 

 

 

 ROYAL CANADIAN MINT 

 and 

 

 

 BANK OF MONTREAL 

 

  

 

 GOLD  

 STORAGE AGREEMENT 

 

 

 

 

 

 

 

    

    

    

 

 GOLD STORAGE AGREEMENT entered into on the 5th day of November, 2012. 

 

	
 B E T W E E N: 

	
 ROYAL CANADIAN MINT 

 Ottawa, Ontario, Canada, a Body Corporate  

 established  by  the  Royal  Canadian  Mint  

 Act, R.S.C. 1985, c.R-9. 

 (hereinafter referred to as the “Mint”) 

 

 OF THE FIRST PART 

 

	
 A N D: 

	   

 BANK OF MONTREAL 

 1 First Canadian Place 

 100 King Street West  

 Toronto, Ontario  M5X 1H1  

 (hereinafter referred to as the  

 “Customer”) 

 

 OF THE SECOND PART 

 

 

 WHEREAS the Customer is a chartered banking organization under the laws of Canada; 

    

 WHEREAS the Customer wishes to store Property (as defined herein) at the Mint’s Facility (as defined herein); 

 WHEREAS the Mint agrees to store Property at the Mint’s Facility in accordance with the terms and conditions contained herein. 

 

 NOW, THEREFORE, in consideration of the mutual promises and covenants hereinafter contained, the parties hereto agree as follows: 

 

 

	
 1.  

	
 Definitions 

    

 In the Agreement (as defined below), the following terms and expressions have the following meanings: 

    

 “Agreement” means this agreement and any document referred to in this agreement as forming part of this agreement. 

    

 2 

    

 

 “Business Day” means any Monday to Friday inclusively, excluding holidays observed by the Mint. 

 

 “Confidential Information” means all information received from either party during the course of the Agreement, whether disclosed in written, oral and/or visual form, which is identified by the disclosing party as confidential at the time of disclosure or that a reasonable person would consider, from the nature of the information or circumstances of disclosure, as being confidential.  Confidential Information includes, but is not limited to, information relating to the research, developments, technology, know-how, pricing, finances, marketing, business plans and customer lists. 

 

 “Contracting Authority” means the representative of a party who is responsible for the management and administration of the Agreement. 

 

 “Force Majeure” means circumstances or causes beyond a party’s reasonable control, including, without limitation, acts or omissions or the failure to cooperate of the other party (including, without limitation, entities and/or individuals under their respective control, and/or their respective officers, directors, employees and/or other personnel and agents), acts or omissions or the failure to cooperate by any third party, fire or other casualty, act of God, strike or labour dispute, war or other violence, or any law, order or requirement of any governmental agency or authority. 

 

 “Gold” shall mean gold in the form of 400 ounce bars, kilo bars, 100 ounce bars, wafers or coins. 

 

 “Improperly Packed Pallet” means bars that are not securely or safely packed on a well constructed sturdy wood pallet. 

 

 “London Good Delivery Bars” means gold bars that meet the standard measure of quality in gold bullion as set forth by the London Bullion Market Association. 

 

 “Mint’s Facility” means the Mint’s premises located at 320 Sussex Drive, Ottawa, Ontario. 

 

 “Notice of Discrepancy” means a written notice given by the Mint to the Customer pursuant to Sub-Clause 5(h) informing the Customer of a discrepancy between: (i) the weight in troy ounces, count and/or bar numbers of the Property as determined by the Mint pursuant to Sub-Clause 5(f); and (ii) the information stated in the relevant Initial Notice. 

 

 “Notice of Loss” means a written notice given by the Mint or the Customer informing the other party of the discovery of loss, destruction and/or damage of Property. 

 

 “Property”  means  Gold  that  belongs  to  the  Customer  or  in  regards  to  which  the Customer is the duly authorized agent of the owner. 

    

 3 

    

 

 “Receipt  of  Deposit”  means  the  document  issued  by  the  Mint  to  the  Customer confirming the bar numbers and the weight in troy ounces of the Property received at the Mint’s Facility in a particular delivery. 

 

 “Returning Instructions” means written instructions provided by the Customer to the Mint informing the Mint of the Customer’s carrier or representative to whom the Mint is to remit Property for its return, the Business Day on which the Property is to be remitted to said carrier or representative, said carrier’s or representative’s vehicle model and registration number and any other details which may be requested by the Mint in relation thereto. 

 

 “Transfer of Allocated Storage” means the transfer of allocated Gold to another customer allocated storage account held by the Mint. 

 

 “Transportation Costs” means any and all costs and expenses related to the transportation of Property to and from the Mint’s Facility, inclusive of any applicable taxes, duties, fees and assessments and the costs in obtaining insurance in relation thereto. 

 

 “Withdrawal” means the physical removal of the Property or a portion thereof from the Mint’s Facility. 

 

	
 2.  

	
 Interpretation 

 

 “herein”, “hereby”, “hereunder”, when used in any clause shall, unless the contrary is apparent from the context, be understood to relate to the Agreement as a whole, and not merely to the clause in which they appear. 

 

 The division of the Agreement into sections and the insertion of headings are for convenience of reference only and are not to affect the construction or interpretation of the Agreement. 

 

 In the Agreement, unless the context requires otherwise, words importing a singular number include the plural and vice versa and words importing the masculine include the feminine and neuter and vice versa. 

 

 Unless otherwise indicated, any reference to currency is to U.S. currency and any amount advanced, paid or calculated is to be advanced, paid or calculated in U.S. currency. 

 

	
 3.  

	
 Schedule(s) 

 

 The following schedule is attached to and forms part of the Agreement: 

 

	   	
 · 

	
 Rate Schedule 

    

 4 

    

 

	
 4.  

	
 Contracting Authority 

 

	
 (a) 

	
 The Chief Operating Officer, an officer of the Mint, is the Contracting Authority for the Mint. 

 

	
 (b) 

	
 The Head of Financial Products & Debt Products, BMO Capital Markets, an officer of the Customer, is the Contracting Authority for the Customer. 

 

	
 (c) 

	
 No delegation of authority and authorization of a representative by the Contracting Authority of the Mint or by the Contracting Authority of the Customer shall be effective unless the authorization and delegation is in writing, specifying the nature and extent of the authorization given and the names of the representatives, and is duly executed and delivered to the Customer or the Mint, as the case may be, by the Contracting Authority. 

 

	
 5.  

	
 Description of Service 

 

	
 (a) 

	
 The Mint agrees to maintain an inventory of Property on behalf of the Customer at the Mint’s Facility under the terms and conditions set forth in the Agreement and the Mint agrees to exercise the same degree of care and diligence in safeguarding the Property as any reasonably prudent person acting as a custodian would exercise in the same circumstances. 

 

	
 (b) 

	
 From time to time during the term of the Agreement, the Customer shall give written notice (hereinafter an “Initial Notice”) to the Mint of its intention to have Property delivered to and stored at the Mint’s Facility.  The Initial Notice shall be delivered to the Mint at least two (2) Business Days prior to the Business Day the Customer intends for the Property to be delivered to the Mint’s Facility. Within one (1) Business Day of the receipt of an Initial Notice, the Mint shall confirm to the Customer an acceptable receipt date for the delivery of the Property. The Mint reserves the right to suggest an alternative receipt date for delivery, or refuse receipt of a delivery in the event of storage capacity limitations. 

 

	
 (c) 

	
 Initial Notices shall specify the amount, weight  in troy ounces, type, assay characteristics, bar numbers and bar brand(s) of the Property to be stored.  Assay characteristics shall be denoted in troy ounces to two (2) decimal places.   The Customer agrees that it shall never conceal or misrepresent any material fact or circumstance concerning the Property delivered to the Mint’s Facility.  The Initial Notice shall also inform the Mint as to the identity of the armoured carrier company that will transport the Property from the Customer’s location to the Mint’s Facility. 

 

	
 (d) 

	
 Except when otherwise specified in the Agreement, all Transportation Costs to andfrom the Mint’s Facility shall be borne by the Customer. 

 

    

 5 

    

 

	
 (e) 

	
 If the Property arrives at the Mint’s Facility without the Customer having given an Initial Notice in relation thereto or if the Property arrives in advance of receiving a confirmed receipt date from the Mint, the whole in accordance with Sub-Clauses 5(b) and (c), the Mint may choose not to store such Property.  In such an event, the Customer shall forthwith arrange for the return of said Property and provide the Mint with Returning Instructions. 

 

	
 (f)  

	
 Except as provided under Sub-Clause 5(e), upon receiving Property at the Mint’s Facility, the Mint will compare the bar numbers stated in the Initial Notice against corresponding bar numbers imprinted on each bar delivered by the Customer. The Mint will also weigh the Property and compare its results with the weight in troy ounces stated in the Initial Notice. 

 

	
 (g) 

	
 Once the bar numbers and the weight in troy ounces stated in the Initial Notice have been successfully verified, the Mint shall confirm to the Customer receipt of said Property by providing to the Customer by facsimile transmission a Receipt of Deposit confirming the bar numbers and the weight in troy ounces of the Property received. 

 

	
 (h) 

	
 In the event the Mint discovers a discrepancy between: (i) the weight in troy ounces and/or bar numbers of the Property as determined by the Mint in furtherance to Sub- Clause 5(g); and (ii) the information stated in the Initial Notice, the Mint shall promptly send a Notice of Discrepancy to the Customer. In such a case, the Mint will suspend all activity and the Customer shall forthwith either: (i) arrange for the return of the Property and provide Returning Instructions to the Mint; or (ii) issue a revised Initial Notice to correct any such discrepancy.   Notwithstanding the foregoing, in the event the weight calculated by the Mint results in an excess of Property, the Mint reserves the right to refuse to store such excess Property or any portion thereof. In such case, the Customer shall forthwith arrange for the return of said excess Property and provide Returning Instructions to the Mint. 

 

	
 (i)  

	
 The parties expressly understand and agree that the Mint does not assume any liability as to the authenticity or assay characteristics of any Property and/or in regards  to  any  discrepancies  identified  between  the  weight,  count  and/or  bar numbers of the Property as stated in the Initial Notice and the actual weight, count and bar numbers of the Property delivered. 

 

	
 (j) 

	
 If the Property arrives at the Mint’s Facility on Improperly Packed Pallets, the Customer will be notified by the Mint that it considers the state of the packing to pose a potential safety hazard and the Mint will repack the pallet at the Customer’s expense at the rate set out in the rate schedule attached hereto (hereinafter the “Rate Schedule”). 

 

	
 (k) 

	
 From time to time during the term of the Agreement, and for the fee set forth in the Rate Schedule, the Customer may give written notice to the Mint of its intention to withdraw Property from the Mint’s Facility.  Such written notice shall be delivered to the Mint at least two (2) Business Days prior to the Business Day on which the Customer wishes the Withdrawal to occur and shall: (i) specify the Property to be withdrawn from the Mint’s Facility, including a bar list specifying, for each bar to be withdrawn, the bar number, the bar brand, the weight in troy ounces, and the fineness; and (ii) specify the Returning Instructions to the Mint. 

 

    

 6 

    

     

	
 (l)  

	
 Upon receipt of proper and complete instructions in writing from the Customer, and for the fee set forth in the Rate Schedule, the Mint will transfer the Property or a portion thereof to a third party who has an allocated storage account with the Mint. The written transfer order must be signed by an authorized representative of the Customer in accordance with Sub-Clause 5(m). Transfers of Allocated Storage shall be processed within one (1) Business Day from reception of proper and complete instructions in writing and will be confirmed to the recipient by facsimile on the day of transfer. 

 

	
 (m) 

	
 The Customer shall provide the Mint with the names and signatures of the Customer's authorized representatives who are empowered to issue orders for Transfers of Allocated Storage and for Withdrawals of the Property from the Mint’s Facility.  It is expressly understood and agreed that the Mint shall not be liable for any transfer of Property made under a Transfer of Allocated Storage or for any Withdrawal order fraudulently executed in the name of an authorized Customer representative,  nor  for  any  transfer  of  Property  under  a  Transfer  of  Allocated Storage or for a Withdrawal made where the authority of any such representative has been revoked and the Mint has not been notified thereof in writing in due time. 

 

	
 (n) 

	
 Nothing contained in the Agreement shall create between the parties the relationship of principal and agent, mandator and mandatary, partnership or joint venture. The Customer has no authority to and undertakes not to make any representation relating to the Mint, nor give any warranty or representation on behalf of the Mint, without the Mint’s prior written authorization. The Customer will be liable for any and all damages, losses and costs, including special, incidental, consequential, indirect and punitive damages, losses and costs (including lost profits and lost savings) suffered by the Mint as a result of a breach of any of the above undertakings. The Customer recognizes and acknowledges that any breach or threatened breach of the above undertakings may cause the Mint irreparable harm for which monetary damage may be inadequate. The Customer agrees therefore that the Mint shall be entitled to seek an injunction to restrain the Customer from such breach or threatened breach. 

 

 

	
 6.  

	
 Segregation of Property 

 

 The Mint shall keep the Property specifically identified as the Customer's Property and physically segregated at all times from any other property belonging to the Mint or other of its customers.  Subject to the Customer paying the Mint the charges set forth in the Rate Schedule: (a) no use or disposition of the Property shall be made without the prior written consent of the Customer and (b) Property shall be held in segregation free and clear of any charge, lien, claim or encumbrance of any kind in favour of the Mint. 

    

 7 

    

 

	
 7.  

	
 Inventory Statements/Records 

 

 The Mint will send the Customer an inventory statement on a monthly basis. The monthly inventory statements will include a summary of all Receipts of Deposit, Transfers of Allocated Storage and Withdrawals which have been processed during the previous calendar month. Said inventory statements shall be issued no later than seven (7) Business Days following the end of each calendar month. 

 

 The  Mint  shall  maintain  records  in  readily  form  sufficient  to  identify  the  Property pursuant to this Agreement, separate and distinct from any other property held by the Mint.  The account for the Property shall be in the name of the Customer. 

  

	
 8.  

	
 Audit and Security and Safety Requirements 

 

 Following a minimum of five (5) Business Days’ prior written notice, the Customer's authorized employees and representatives will have access to the Mint’s Facility for the purpose of performing a physical audit of the Property held in custody by the Mint , provided that such audit does not disrupt the routine operation of the Mint’s Facility and is held on a Business Day during the Mint’s regular business hours.  The Mint shall also provide the Customer's employees and representatives with the Mint’s inventory records relating to the Property.  The Customer's employees and representatives shall present proper credentials to the Mint’s Facility manager as a condition of being admitted to the Mint’s Facility. 

 

 The Customer agrees to be bound by the Mint’s security procedures and policies relating to the access to the Mint’s Facility. All authorized employees and representatives who are allowed  access  to  the  Mint’s  Facility pursuant  to  the  Agreement  will  be subject  to security clearance prior to being admitted to the Mint’s Facility. 

 

 The Customer’s authorized employees and representatives could possibly be subject to search while at the Mint’s Facility. 

 

 Prior to arriving at the Mint’s Facility, the Customer shall obtain, from the Contracting Authority, the details of the Mint’s safety regulations. 

 

	
 9.  

	
 Indemnity 

 

	
 (a)  

	
 The Customer shall indemnify and hold harmless the Mint, its directors, officers, employees and agents, from and against any damages and/or losses, including, but not limited to loss, destruction and/or damage to Property, any injuries, including, but not limited to, bodily injuries or death, any costs and/or expenses and/or any claim, action, suit and/or other proceeding, including reasonable settlement, judgment and attorney’s fees, arising out of the presence of any of the Customer’s employees, agents, representatives and/or contractors on the premises of the Mint’s Facility and/or arising out of the their entering and/or leaving therefrom. 

    

 8 

    

 

	
 (b)  

	
 The Customer warrants that it has legal title to the Property delivered and stored in the Mint’s Facility or is the duly authorized agent of the owner of the Property, with the right in either instance to transfer possession of the Property to the Mint free and clear  of  all  liens  and  encumbrances.  The  Customer  shall  indemnify  and  hold harmless the Mint, its directors, officers, employees and agents, from and against any damages, losses, injuries, costs and/or expenses and/or any claim, action, suit and/or other proceeding, including reasonable settlement, judgment and attorney’s fees, arising out of any breach of this warranty. 

 

 

	
 10.  

	
 Service Charges and Payment 

 

	
 (a) 

	
 Except as otherwise provided for in the Agreement, the Customer shall pay the Mint, for the services provided by the Mint under the Agreement, within thirty (30) calendar days of receipt of invoice, the charges invoiced in accordance with the rates set forth in the Rate Schedule. 

 

	
 (b) 

	
 Federal, Provincial and/or local taxes, where applicable, shall be added to the charges invoiced in accordance with the rates set forth in the Rate Schedule. 

 

	
 (c) 

	
 The Customer shall effect payment to the Mint for value in USD funds by wire transfer using the following instructions: 

    

	   	
 US Correspondent Bank: 

	
 JP Morgan Chase  

 New York, N.Y.  

 ABA#:  

 

	   	
 Destination Bank:  

	
 Royal Bank of Canada 

 90 Sparks Street  

 Ottawa, Ontario  

 Canada 

 SWIFT#:  

  

	   	
 Beneficiary:  

	
 Royal Canadian Mint 

	   	
 Transit:  

	 

	   	
 Account:  

	 

 

	
 (d) 

	
 All charges remaining unpaid after the invoice due date will be subject to interest at a rate of 11⁄2 percent (1.5%) per month. 

    

 9 

    

 

	
 (e) 

	
 The Mint may increase the rates set forth in the Rate Schedule following a thirty (30) calendar days’ written notice to that effect in the event of a change in economic conditions beyond the Mint’s control that increases operating costs incurred by the Mint. 

 

	
 (f)  

	
 If the Customer defaults in the full and timely payment of any monies due to the Mint pursuant to the Agreement and/or the terms stated in the Mint’s invoice, or otherwise defaults in the performance of any of the Customer's other obligations to the Mint, then the Customer shall be responsible for, without prejudice to the Customer’s other obligations pursuant to the Agreement and/or by way of law and/or equity, the reimbursement of any reasonable legal fees and other reasonable costs and expenses incurred by the Mint in the collection of any said monies due to the Mint (which monies, obligations, fees, costs and expenses shall hereinafter be collectively referred to as the “Unpaid Obligations”), and the Mint, in addition to any and all other rights and remedies provided for in the Agreement and/or by way of law and/or equity, shall be permitted to retain as a credit and to offset against such Unpaid Obligations, on a dollar for dollar basis, any Property stored or caused to have been stored with or otherwise delivered to the Mint’s Facility for safekeeping or for any other purpose on behalf of the Customer. 

 

	
 (g) 

	
 It  is  agreed  that  the  Mint  will  have  no  obligation  to  proceed  with  a  requested Withdrawal and/or Transfer of Allocated Storage until all sums due to the Mint per the Agreement have been paid in full. 

 

	
 11.  

	
 Risk and Liability 

 

	
 (a) 

	
 Except as otherwise provided in the Agreement, the Mint shall bear all risks of loss, destruction and/or damage to Property delivered to the Mint’s Facility for storage under the Agreement from the time said Property has been taken into the Mint’s possession and control, whether through physical delivery or through a Transfer of Allocated Storage. Should the Mint discover a discrepancy during the verification process pursuant to Sub-Clause 5(f) between: (i) the weight in troy ounces of the Property as determined by the Mint; and (ii) the information stated in the Initial Notice, the Mint’s liability under the Agreement shall be immediately adjusted to the weight in troy ounces of the Property as determined by the Mint upon the issuance by the Mint of a Notice of Discrepancy. In no event shall the Mint be liable for Property that was not actually delivered to the Mint’s Facility or taken into the Mint’s possession and control. The Mint’s liability shall terminate in respect of any portion of the Property upon the expiration or termination of the Agreement, whether or not the Property remains in the Mint’s Facility, upon transfer of the Property under a Transfer of Allocated Storage, as requested by the Customer, or upon remittance to the Customer’s carrier or representative in the event of a Withdrawal or return of the Property pursuant to Sub-Clause 5(h). 

    

 10 

    

 

	
 (b)  

	
 The Customer shall ensure that Property sent to the Mint’s Facility is packaged in accordance with the custom of the trade so that the Property is not reasonably susceptible to damage. 

 

	
 (c) 

	
 Conditional upon the Customer giving the Mint a Notice of Loss in accordance with Sub-Clause 12(b) where the loss and/or destruction is discovered by the Customer, in the event of loss and/or destruction of Property (whether through fraud, theft, negligence or otherwise and regardless of culpability by the Mint) for which the Mint bears the risks of loss, destruction or damage as provided in Sub-Clause 11(a), the Mint will either, in its discretion: 

 

	   	
 (i) 

	
 replace the lost and/or destroyed Property based on the advised weight and advised assay characteristics provided in the Customer’s Initial Notice; 

 

	   	
 (ii)  

	
 compensate the Customer for the monetary value of the lost and/or destroyed Property based on the advised weight and assay characteristics provided in the Customer’s Initial Notice and the market value of the lost and/or destroyed Property, using the gold p.m. fixing of the LBMA expressed in U.S. dollars on the first (1st) Business Day following receipt of a Notice of Loss from either party identifying said loss and/or destruction as provided in Clause 12 herein; or 

 

	   	
 (iii) 

	
 replace a portion of the lost and/or destroyed Property based on the advised weight and advised assay characteristics provided in the Customer’s Initial Notice, and compensate the Customer for the monetary value of the remaining portion of the lost and/or destroyed Property based on the advised weight and assay characteristics provided in the Customer’s Initial Notice and the market value of the lost Property using the gold p.m. fixing of the LBMA expressed in U.S. dollars on the first (1st) Business Day following receipt of a Notice of Loss from either party identifying said loss and/or destruction as provided in Clause 12 herein. 

 

 Notwithstanding the foregoing, should the Customer’s Initial Notice be superseded by a Mint’s Notice of Discrepancy pursuant to Sub-Clause 11(a), the latter notice shall be used to assess the weight and characteristics of the Property under this Sub- Clause11(c). 

 

	
 (d) 

	
 Conditional upon the Customer giving the Mint a Notice of Loss in accordance with Sub-Clause 12(b) where the damage is discovered by the Customer, in the event of damage to Property for which the Mint bears the risks of loss, destruction or damage as  provided  in  Sub-Clause  11(a),  the  Mint  will  restore  the  portion  of  damaged Property to at least as good as state as it was prior to being so damaged. 

 

	
 (e)  

	
 Upon replacement of and/or monetary compensation for the lost and/or destroyed Property as provided for above, the Customer hereby agrees to and does hereby assign to the Mint all of its right, title and interest in said lost and/or destroyed Property; upon replacement of and/or compensation for lost and/or destroyed Property and/or upon restoration of damaged Property, the Customer hereby agrees to and does hereby assign to the Mint all of its rights of recovery against third parties that are the subject of a claim and/or against whom a claim can be instituted, and to execute any documents as may be reasonably necessary to perfect such assignment upon request by the Mint or the Mint’s insurers. 

 

    

 11 

    

 

	
 12.  

	
 Notice of Loss 

 

	
 (a)  

	
 The Customer and the Mint shall maintain a record of all Property delivered to the Mint. 

 

	
 (b) 

	
 Should any party to the Agreement discover a loss, destruction and/or damage of Property under the Agreement, such party shall give a Notice of Loss to other party within one (1) Business Day from the discovery of any such loss, destruction and/or damage. Notwithstanding the foregoing, in the event that the Customer receives a written statement from the Mint in which a discrepancy in the quantity of Property first appears, the Customer must give the Mint a Notice of Loss regarding such a discrepancy no later than sixty (60) calendar days following reception of said written statement. In the event that a Notice of Loss is given by either party in accordance with the above, the Customer shall forthwith provide the Mint with an affirmative written statement, subscribed and sworn to by a duly authorized representative of the Customer, detailing the Property lost, destroyed and/or damaged and substantiated by the books, records and accounts of the Customer. No action, suit and/or other proceeding  to  recover for any loss,  damage  and/or  destruction  shall  be brought against the Mint where a Notice of Loss has been given as aforesaid but no action, suit and/or proceeding has been commenced within twelve (12) months from the time said Notice of Loss is sent by a party to the other party pursuant to this Sub- Clause. Should the Customer not comply with any of its obligations under this Sub- Clause 12(b), all claims shall be deemed to have been waived. 

 

	
 (c)  

	
 The parties shall promptly and diligently assist each other to establish the identity of the Property lost, destroyed and/or damaged, and shall take all such other reasonable steps as may be necessary to assure the maximum amount of salvage at a minimum cost. 

    

 12 

    

 

	
 13.  

	
 Mint’s Limitation of Liability 

 

 Notwithstanding anything to the contrary in the Agreement, in addition to any other limitations of liability of the Mint provided under the Agreement and/or by way of law, the Mint is not be liable for any damages, losses, costs and/or expenses and/or for non- performance and/or delays of service caused by or resulting from any of the following, whether suffered directly or indirectly by the Mint: 

 

	
 (a)  

	
 either: (1) war, hostile or warlike action in time of peace or war, including action in hindering, combating or defending against an actual, impending or expected attack (i) by any government or sovereign power (de jure or de facto), or by any authority maintaining or using military, naval or air forces; or (ii) by military, naval or air forces; or (iii) by an agent of any such government, power, authority or forces; or (2) insurrection, rebellion, revolution, civil war, usurped power or action taken by governmental authority in hindering, combating or defending against such an occurrence or confiscation by order of any government or public authority. 

 

	
 (b) 

	
 either: (i) any chemical, biological, or electromagnetic weapon; (ii) the use or operation, as a means for inflicting harm, of any computer, computer system, computer software, computer software programme, malicious code, computer virus or process or any other electronic system; (iii) ionising radiations from or contamination by radioactivity from any nuclear fuel or from any nuclear waste or from the combustion of nuclear fuel; (iv) the radioactive, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, reactor or other nuclear assembly or nuclear component thereof; (v) any weapon or device employing atomic or nuclear fission and/or fusion or other like reaction or radioactive force or matter; or (vi) the radioactive, toxic, explosive or other hazardous or contaminating properties of any radioactive matter.  The exclusion in this Sub-Clause (vi) does not extend to radioactive isotopes, other than nuclear fuel, when such isotopes are being prepared, carried, stored, or used for commercial, agricultural, medical, scientific or other similar peaceful purposes. 

 

	
 (c) 

	
 any act of terrorism or any action taken in controlling, preventing, suppressing or in any way relating to any act of terrorism.  An act of terrorism means an act, including but not limited to the use of force or violence and/or the threat thereof, of any person or group(s) of persons, whether acting alone or on behalf of or in connection with any organization(s) or government(s), committed for political, religious, ideological or similar purposes including the intention to influence any government and/or to put the public, or any section of the public, in fear; 

	
 (d) 

	
 strikes, lockouts or other labour disturbances, riots, authority of law, acts of God or means beyond the control of the Mint;  and/or 

 

	
 (e) 

	
 a case of Force Majeure. 

    

 13 

    

 

	
 14.  

	
 Consequential Damages 

 

 Except as otherwise specifically provided under the Agreement, the Mint shall not be liable for special, incidental, consequential, indirect and/or punitive losses and/or damages (including lost profits and/or lost savings), except as a result of gross negligence or wilful misconduct by the Mint and whether or not the Mint had knowledge that such losses and/or damages might be incurred. 

 

    

	
 15.  

	
 Hazardous Substances and Right to Refuse Shipment 

	
 (a) 

	
 To the best of the Customer’s knowledge, any and all Property sent to the Mint’s Facility shall be free of hazardous substances including, but not limited to, beryllium, cadmium, mercury, polychlorinated biphenzyls and radioactive material.  The Mint reserves the right to sample and test the Property for the presence of hazardous substances. 

 

	
 (b) 

	
 The  Mint  may  choose  not  to  store  Property  that,  in  the  Mint's  opinion,  acting reasonably, contains a hazardous substance, or is, or becomes, unsuitable and/or undesirable whether for metallurgical, environmental and/or other reasons.  Without prejudice to the Mint’s right to refuse delivery or reject Property as described above, prior to the Mint doing same, the Mint shall discuss the situation with the Customer. 

 

	
 (c)  

	
 In the event the Mint rejects Property pursuant to Sub-Clause 15(b), the Customer shall, upon reception of a notice of rejection from the Mint, arrange for the return of the Property and provide the Mint with Returning Instructions.  Pending receipt of such instructions, the Mint may take action, as it considers appropriate, for the proper packaging and handling of the Property.  Any expenses incurred by the Mint in doing so shall be for the Customer's account. 

 

	
 (d) 

	
 The Customer shall be liable and shall indemnify and hold harmless the Mint, its directors, officers, employees and agents, from and against  damages, losses, injuries, costs  and/or  expenses  and/or  any  claim,  action,  suit  and/or  other  proceeding, including reasonable settlement, judgment and attorney’s fees, arising out of the presence of any hazardous substances contained in the Property. 

 

	
 16.  

	
 Term of the Agreement and Return of Property 

 

 The Agreement shall be effective as of the date first indicated above and shall continue thereafter for a term of three (3) years, unless earlier terminated in accordance with the terms of the Agreement. 

 

 The Customer shall arrange for the return of the Property prior to the expiration of the term of the Agreement or any renewal(s) thereof and shall provide the Mint with the Returning Instructions in advance and in a timely manner.  Property left in storage at the Mint’s Facility after the expiration of the Agreement will be subject to storage and handling charges as determined by the Mint which may be greater than those set out in the Rate Schedule attached hereto.  The Customer also agrees to reimburse the Mint for any and all reasonable costs and expenses incurred by the Mint by reason of the Property having been left in storage at the Mint’s Facility after the expiration or termination of the Agreement. 

 

    

 14 

    

	
 17.  

	
 Termination for Default 

 

 Where: (i) the Customer is in default in carrying out any of its obligations under the Agreement and fails to correct said default within ten (10) Business Days following a written notice sent by the Mint to the Customer informing the latter of the default; (ii) the Customer is dissolved or adjudged bankrupt, or a trustee, receiver or conservator of the Customer or of its property is appointed, or an application for any of the foregoing is filed; or (iii) the Customer is in breach of any representation or warranty contained herein, the Mint may, upon giving written notice to the Customer, terminate the Agreement. 

 

 Where: (i) the Mint is in default in carrying out any of its obligations under the Agreement and fails to correct said default within ten (10) Business Days following a written notice sent by the Customer to the Mint informing the latter of the default; (ii) the Mint is dissolved or adjudged bankrupt, or a trustee, receiver or conservator of the Mint or of its property is appointed, or an application for any of the foregoing is filed; or (iii) the Mint is in breach of any representation or warranty contained herein, the Customer may, upon giving written notice to the Mint, terminate the Agreement 

 

 Upon the giving of a written notice of termination by either party pursuant to the terms of the present Clause, the Customer shall forthwith arrange for the return of the Property and provide Returning Instructions to the Mint. The Transportation Costs for returning the Property to the Customer shall be borne by the defaulting party, except that the Mint shall only bear Transportation Costs for returning the Property to one of Canada’s provincial capitals.  Property left in storage at the Mint’s Facility after the termination date will be subject to storage and handling charges as determined by the Mint which may be greater than those set out in the Rate Schedule attached hereto.   Also, the Customer agrees to reimburse the Mint for any and all costs and expenses incurred by the Mint by reason of the Property having been left in storage at the Mint’s Facility after the termination date. 

 

 In case of termination by the Mint pursuant to the present Clause, the Customer shall, except for special, incidental, consequential, indirect, and/or punitive losses and/or damages, be liable towards the Mint for losses and damages which may be suffered by the Mint by reason of the default or occurrence upon which the notice was based.  In case of termination by the Customer pursuant to the present Clause, the Mint shall, except for special,  incidental,  consequential,  indirect  and/or  punitive losses  and/or  damages,  be liable towards the Customer for  losses and damages which may be suffered by the Customer by reason of the default or occurrence upon which the notice was based. 

 

    

 15 

    

	
 18.  

	
 Termination for Convenience 

 

 Notwithstanding anything contained in the Agreement, either the Mint or the Customer may, at its sole discretion and at any time prior to the expiration of the term or any renewal(s) or extension(s) thereof, terminate the Agreement by giving thirty (30) calendar days written notice to the other party to that effect. 

 

 Upon a notice of termination being given pursuant to the terms of the present Clause, the Customer shall forthwith arrange for the return of the Property and provide the Returning Instructions, and the Transportation Costs shall be borne by the party terminating the Agreement, except that the Mint shall only bear Transportation Costs for returning the Property to one of Canada’s provincial capitals.   Property left in storage at the Mint’s Facility after the termination date due to the Customer not having returned the Property prior to termination date will be subject to storage and handling charges as determined by the Mint which may be greater than those set out in the Rate Schedule attached hereto. Also, the Customer agrees to reimburse the Mint for any and all reasonable costs and expenses incurred by the Mint by reason of the Property having been left in storage at the Mint’s Facility after the termination date due to the Customer not having returned the Property prior to termination date. 

 

 In the event of termination under the present Clause, neither party will have any claim for compensation except as otherwise specified in the Agreement and will have no claim for damages and/or loss of profit as a result of the termination. 

 

	
 19.  

	
 Notices 

 

 Any notice given under the Agreement will be in writing, and will be delivered by messenger, prepaid registered mail, facsimile or email to the following addresses: 

 

	
 If to the Mint: 

	
 If to the Customer: 

	   	   
	
 Director, Mint Office 

	
 Simon Carling 

	
 Royal Canadian Mint 

	
 Managing Director 

	
 320 Sussex Drive 

	
 Bank of Montreal 

	
 Ottawa, ON 

	
 1 First Canadian Place 

	
 Facsimile:  

	
 100 King Street West 

	
 E-mail:  

	
 Toronto, ON M5X 1H1 

	    	
 Facsimile:  

	    	
 E-mail:  

 

    

 16 

    

 

 A party may change its address by informing the other party of the new address in writing. 

 

 Each notice shall be deemed given: (i) when received, if delivered by messenger; (ii) upon confirmation of receipt, if given by facsimile or email; or (iii) three (3) Business Days after the date of mailing when sent by prepaid registered mail. 

 

	
 20.  

	
 Force Majeure 

 Neither the Mint nor the Customer will be liable for failure to perform obligations under the Agreement if the failure is caused directly or indirectly by a case of Force Majeure, except for the payment by the Customer of sums payable to the Mint under this Agreement. 

 

 

	
 21.  

	
 Waiver 

 

 The failure of a party to insist upon strict adherence to any term of the Agreement on one or more occasions will not be considered a waiver or deprive the party of the right thereafter to insist upon strict adherence to that term or any other term of the Agreement. 

 

	
 22.  

	
 Amendments 

 

 Except as specifically provided for herein, the Agreement may not be waived, altered or amended except by an instrument in writing duly executed by the Customer and the Mint. 

 

 

	
 23.  

	
 Assignment 

 

 The Agreement shall be binding on the Customer and the Mint and their respective successors and permitted assigns.  Neither the Customer nor the Mint shall assign or transfer its rights or obligations hereunder without the prior written consent of the other. Any such consent shall not be unduly delayed or unreasonably withheld. 

 

	
 24.  

	
 Applicable Law and Arbitration 

 

 The Agreement and all matters relating to the Agreement (whether in contract, statute, tort (including, without limitation, negligence) or otherwise), is governed by, and construed in accordance with, the laws of the Province of Ontario (without giving effect to the choice of law principles thereof). 

 

 Any dispute arising out of or in connection with the Agreement, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration in accordance with the Commercial Arbitration Act, R.S.C. 1985, c.17 (2nd Supp.) and any amendments thereto.  The number of arbitrators will be three (3).  The place of arbitration will be the City of Ottawa, Ontario, Canada.  The language to be used in the arbitral proceedings is English and/or French. 

 

    

 17 

    

	
 25.  

	
 No Bribe 

 

 The Customer warrants: 

	   	
 (a) 

	
 that no bribe, gift and/or other inducement has been paid, given, promised and/or offered to any official and/or employee of the Mint for, or with a view to, the obtaining of the Agreement by the Customer; and 

    

	   	
 (b) 

	
 that it has not employed any person to solicit or secure the Agreement upon any agreement for a commission, percentage, brokerage and/or contingent fee. 

 

	
 26.  

	
 Members of the House of Commons 

 

 No Member of the House of Commons shall be admitted to any share or part of the Agreement or to any benefit to arise therefrom. 

 

	
 27.  

	
 Confidentiality 

 

 Subject to the exceptions set out below, the receiving party shall keep confidential the disclosing party’s Confidential Information and shall not use any of the disclosing party’s Confidential Information except for the purposes contemplated in the Agreement. 

 

 The receiving party shall disclose the Confidential Information only to those of its own employees, affiliates (as such term is defined under the Canada Business Corporations Act (Canada)), agents or consultants who require the Confidential Information for the purpose of the Agreement.  Prior to disclosure of the Confidential Information to its own employees, affiliates, agents or consultants, the receiving party shall issue, or shall have issued, appropriate instructions to satisfy its obligations under the Agreement.   Any agents, consultants or affiliates to whom the disclosing party’s Confidential Information is to be disclosed shall be first bound, by agreement in writing, to observe terms of confidentiality which are at least as stringent as those set out in the Agreement. 

 

 Confidential Information shall be maintained by the receiving party in the same manner as the receiving party keeps its own Confidential Information of a similar nature and, in any event, the Confidential Information shall be kept in accordance with reasonable and prudent standards. 

 

 The receiving party shall not be liable for disclosure of the Confidential Information where disclosure is made in either of the following cases: 

    

 18 

    

 

	
 (a)  

	
 the Confidential  Information had already entered the public domain other than through a breach of the Agreement; 

	
 (b) 

	
 prior  to  disclosure,  the  Confidential  Information  was  lawfully  obtained  by  the receiving party from a third party or parties without restriction on disclosure and without a breach of the Agreement; 

	
 (c)  

	
 the Confidential Information was known to the receiving party without restriction on disclosure prior to its initial disclosure by the other; 

	
 (d)  

	
 the Confidential Information is independently developed by the receiving party; or 

	
 (e)  

	
 the  disclosure  is  required  by  law  and/or  pursuant  to  an  order  of  a  court, administrative tribunal, or other body having the power to compel the production of Confidential Information, or pursuant to a government or regulatory directive or policy. Such disclosure shall be made only to the extent so ordered. 

 

 Notwithstanding the above, the Customer or any of its affiliates may file this Agreement (with the storage and handling charges redacted) and any amendment hereto with the U.S. Securities and Exchange Commission as an exhibit to a registration statement or report, after the Mint has had a reasonable opportunity to review such materials, if the Customer receives advice from counsel that such an exhibit is contemplated by that registration statement or report. 

 

 

	
 28.  

	
 Investment Advice 

 

 It is understood and agreed that, as part of its services under the Agreement, the Mint has not undertaken a duty to supervise the Customer's investment in, or to make any recommendation to the Customer with respect to, the purchase, sale and/or other disposition of any Property or the balance of Property the Customer maintains in inventory. 

 

 

	
 29.  

	
 Entire Agreement 

 

 The Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof, and supersedes all previous negotiations and documents in relation thereto.   There are no warranties, conditions, and/or representations (including any that may be implied by statute) and there are no agreements in connection with such subject matter except as specifically set forth or  referred to in the Agreement.   No reliance is placed on any warranty, representation, opinion, advice and/or assertion of fact made either prior to or contemporaneous with the entering into the Agreement by any party to the Agreement to any other party to the Agreement, except to the extent that the same has been reduced to writing and included as a term of the Agreement, and none of the parties to the Agreement has been induced to enter into the Agreement by reason of any such warranty, representation, opinion, advice and/or assertion of fact.  Accordingly, there is no liability, either in tort and/or in contract, assessed in relation to any such warranty, representation, opinion, advice and/or assertion of fact, except to the extent contemplated above. 

    

 19 

    

	
 30.  

	
 Counterparts 

 

 The Agreement may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed will be deemed to be an original and all of which taken together will constitute one and the same agreement. Delivery by facsimile or by electronic transmission in portable document format (PDF) of an executed counterpart of the Agreement is as effective as delivery of an originally executed counterpart of the Agreement. 

 

 IN WITNESS WHEREOF, each of the parties hereto has caused the Agreement to be executed on its behalf by its duly authorized representative(s) as of the date and year first written above. 

 

	
 Royal Canadian Mint 

	   
	   	   
	   	   
	   	   
	 /s/ Beverley Lepine 	   
	
 Beverley Lepine 

	   
	
 Chief Operating Officer 

	   
	   	   
	   	   
	   	   
	
 Bank of Montreal 

	   
	   	   
	   	   
	   	   
	 /s/ Luke Seabrook 	   
	
 Luke Seabrook 

	   
	
 Head of Financial Products & Debt Products, BMO Capital Markets 

    

    

 20 

    

 

 RATE SCHEDULE to Gold Storage Agreement bearing number LS2012-420 between the Royal Canadian Mint and Bank of Montreal. 

 

 STORAGE AND HANDLING CHARGES 

 

 PRECIOUS METAL NON EXCHANGE MONTHLY STORAGE AND WITHDRAWAL CHARGE (by type and weight) 

 

	    	
 STORAGE RATES: 

	
 WITHDRAWAL RATES: 

	    	    	    
	
 GOLD 

	    	    
	    	    	    
	
 400 ounce Bars 

	
 USD - $25.00 per bar per month 

	
 USD $4.00 per bar 

	    	
 with a minimum of $250.00 per month 

	    
	    	    	    
	
 Wafers (1oz, 5oz, 10oz) 

	
 USD - $0.06 per oz with a minimum  

 of $250.00 per month 

	
 USD $2.00 per wafer 

	    	    	    
	
 100 ounce Bars 

	
 USD - $6.50 per bar per month with a  

 minimum of $250.00 per month 

	
 USD $2.00 per bar 

	    	    	    
	
 Kilo Bars 

	
 USD - $0.06 per oz with a minimum  

 of $250.00 per month 

	
 USD $2.00 per bar 

	    	    	    
	
 Gold Maple Leaf coins 

	    	    
	    	    	    
	
 500 ounce Box 

	
 USD - $25.00 per box per month 

 with a minimum of $250.00 per month 

	
 USD $4.00 per box 

 

 MISCELLANEOUS CHARGES: 

 

	
 Transfer of Allocated Storage 

	
 USD $50.00 per transfer 

	
 Banding – Steel 

	
 USD $2.50 per strap (min. 2 straps per pallet) 

	
 Banding – Poly 

	
 USD $2.00 per strap (min. 2 straps per unit) 

	
 Repacking Pallet 

	
 USD $50.00 per pallet packing fee 

 

 

 21

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00235-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00235-of-00352.parquet"}]]