Document:

exv4w1

Exhibit 4.1

2008 NON-QUALIFIED CONSULTANTS & ADVISORS

STOCK COMPENSATION PLAN

1. Purpose of Plan

     This 2008 NON-QUALIFIED CONSULTANTS & ADVISORS STOCK COMPENSATION PLAN (the Plan) of Colorado
Goldfields Inc., a Nevada corporation (the Company) is intended to advance the best interests of
the Company by providing consultants and advisors of the Company who provide services to the
Company, with additional incentive and by increasing their proprietary interest in the success of
the Company, thereby encouraging them to maintain their relationships with the Company.

2. Definitions

For Plan purposes, except where the context might clearly indicate otherwise, the following terms
shall have the meanings set forth below:

     2.1 “Board” shall mean the Board of Directors of the Company.

     2.2 “Committee” shall mean the Compensation Committee of the Board of Directors, or if the
Company does not have a Compensation Committee, then a committee appointed by the Board which shall
consist of one executive officer of the Company and at least one independent, non-employee member
of the Board. If no committee is appointed, then the Board of Directors shall administer the
Plan. References herein to the “Committee” shall mean the Board of Directors if a Committee has
not been appointed by the Board.

     2.3 “Common Stock” or “Common Shares” shall mean the Company’s Common Stock, $0.001 par value
per share, or, in the event that the outstanding Common Shares are hereafter changed into or
exchanged for different shares of securities of the Company, such other shares or securities.

     2.4 “Common Stock Agreement” means an agreement executed by a Common Stockholder and the
Company, or alternatively a board resolution setting forth the terms of issuance, as contemplated
by Section 5, below, which imposes on the shares of Common Stock held by the Common Stockholder
such restrictions, if any, as the Board or Committee deem appropriate.

     2.5 “Common Stockholder” means any consultant or advisor for the Company or other person to
whom shares of Common Stock are issued pursuant to this Plan.

     2.6 “Company” shall mean Colorado Goldfields Inc., a Nevada corporation, and any subsidiary
corporation of Colorado Goldfields Inc. Fair Market Value shall mean, with respect to the date a
given stock compensation is granted, the closing price of the Common Shares, as reported by the
OTCBB, and if the Common Shares are not quoted on the OTCBB, the closing price as reported by such
quotation system or stock exchange on which the Company’s Common Shares are quoted or traded. Or
if there were no transactions in the Common Shares on such day, then the last preceding day on
which transactions took place. The above withstanding, the Committee may determine the Fair Market
Value in such other manner as it may deem more equitable for Plan purposes or as is required by
applicable laws or regulations.

-1-

 

3. Administration of the Plan

     3.1 The Committee shall administer the Plan and accordingly, it shall have full
power to grant Common Stock, construe and interpret the Plan, establish rules and regulations and
perform all other acts, including the delegation of administrative responsibilities, it believes
reasonable and proper.

     3.2 The determination of those eligible to receive Common Stock, and the amount,
type and timing of each issuance and the terms and conditions of the Common Stock Agreements shall
rest in the sole discretion of the Committee, subject to the provisions of the Plan.

     3.3 The Committee, may correct any defect, supply any omission or reconcile any
inconsistency in the Plan in the manner and to the extent it shall deem necessary to carry it into
effect.

     3.4 Any decision made, or action taken, by the Committee arising out of or in
connection with the interpretation and administration of the Plan shall be final and conclusive.

     3.5 Meetings of the Committee shall be held at such times and places as shall be
determined by the Committee. A majority of the members of the Committee shall constitute a quorum
for the transaction of business, and the vote of a majority of those members present at any meeting
shall decide any question brought before that meeting. In addition, the Committee may take any
action otherwise proper under the Plan by the affirmative vote, taken without a meeting, of a
majority of its members.

     3.6 No member of the Committee shall be liable for any act or omission of any other
member of the Committee or for any act or omission on his own part, including, but not limited to,
the exercise of any power or discretion given to him under the Plan, except those resulting from
his own gross negligence or willful misconduct.

4. Shares Subject to the Plan

     The total number of shares of the Company available for issuance of Common Stock under the
Plan shall be 50,000,000 Common Shares, subject to adjustment in accordance with Article 6 of the
Plan, which shares may be either authorized but unissued or reacquired Common Shares of the
Company.

5. Award of Common Stock

     5.1 The Board or Committee from time to time, in its absolute discretion, may award
Common Stock to consultants or advisors for the Company in connection with services rendered.

     5.2 Common Stock shall be issued only pursuant to a Common Stock Agreement, Board
Resolution, or Consulting Agreement, which shall be executed by the Common Stockholder, unless by
Board Resolution, and the Company and which shall contain such terms and conditions as the Board or
Committee shall determine consistent with this Plan, including such restrictions on transfer as are
imposed by the Common Stock or Consulting Agreement.

-2-

 

     5.3 Upon delivery of the shares of Common Stock to the Common Stockholder, below,
the Common Stockholder shall have, unless otherwise provided by the Board or Committee, all the
rights of a stockholder with respect to said shares, subject to the restrictions in the Common
Stock or Consulting Agreement, including the right to receive all dividends and other distributions
paid or made with respect to the Common Stock.

     5.4 All shares of Common Stock issued under this Plan (including any shares of
Common Stock and other securities issued with respect to the shares of Common Stock as a result of
stock dividends, stock splits or similar changes in the capital structure of the Company) shall be
subject to such restrictions, if any, as the Board or Committee shall provide, which restrictions
may include, without limitation, restrictions concerning voting rights, transferability of the
Common Stock and restrictions based on duration of employment with the Company, Company performance
and individual performance; provided that the Board or Committee may, on such terms and conditions
as it may determine to be appropriate, remove any or all of such restrictions. Common Stock may
not be sold or encumbered until all applicable restrictions have terminated or expire. The
restrictions, if any, imposed by the Board or Committee or the Board under this Section 5 need not
be identical for all Common Stock and the imposition of any restrictions with respect to any Common
Stock shall not require the imposition of the same or any other restrictions with respect to any
other Common Stock.

6. Adjustments or Changes in Capitalization

     If the outstanding Common Stock shall be hereafter increased or decreased, or changed into or
exchanged for a different number or kind of shares or other securities of the Company or of another
corporation, by reason of a recapitalization, reclassification, reorganization, merger,
consolidation, share exchange, or other business combination in which the Company is the surviving
parent corporation, stock split-up, combination of shares, or dividend or other distribution
payable in capital stock or rights to acquire capital stock, appropriate adjustment shall be made
by the Board in the number and kind of shares which may be granted under the Plan.

7. Government and Other Regulations

     The obligation of the Company to issue, transfer and deliver Common Shares under the Plan
shall be subject to all applicable laws, regulations, rules, orders and approval which shall then
be in effect and required by the relevant stock exchanges on which the Common Shares are traded and
by government entities as set forth below or as the Committee in its sole discretion shall deem
necessary or advisable.

8. Miscellaneous Provisions

     8.1 Any expenses of administering this Plan shall be borne by the Company.

     8.2 Board Power to Amend, Suspend, or Terminate the Amendment to the Plan. The Board may, from
time to time, make such changes in or additions to the Plan as it may deem proper and in the best
interests of the Company and its Stockholders. The Board may also suspend or terminate the Plan at
any time, without notice, and in its sole discretion.

-3-

 

     8.3 Nothing contained in the Plan is intended to amend, modify, or rescind any previously
approved compensation plans, programs or options entered into by the Company. This Plan shall be
construed to be in addition to and independent of any and all such other arrangements. The adoption
of the Plan by the Board shall not be construed as creating any limitations on the power of
authority of the Board to adopt, with or without stockholder approval, such additional or other
compensation arrangements as the Board may from time to time deem desirable.

-4-exv10w22

Exhibit 10.22

TERMINATION AND RELEASE AGREEMENT

Termination and Release Agreement dated as of July 22, 2008 (this “Agreement”) is by and
between Railway & Industrial Services, Inc., (“RIS”) and Chartwell International, Inc.,
(“Chartwell”).

RECITALS

WHEREAS, RIS and Chartwell entered into a Purchase and Sale Agreement dated July 10, 2005 (the
“PSA”) under which RIS was to sell to Chartwell, and Chartwell was to purchase from RIS, 95
railcars (the “Railcars”), and RIS was to provide certain retrofitting services to
Chartwell related to the Railcars as described in the Contracts,

WHEREAS, pursuant to the terms of the PSA, Chartwell paid RIS $1,425,000.00 as partial payment in
advance for the Railcars, and to secure the return to Chartwell of such partial payment in the
event RIS failed to deliver to Chartwell the Railcars, RIS executed a Purchase Money Security
Agreement dated as of July 10, 2005 (the “PMSA” and, together with the PSA, the
“Contracts”) granting Chartwell a security interest in the Railcars,

WHEREAS, RIS has delivered 60 of the Railcars to Chartwell, Chartwell has sold 8 of the other
Railcars to Teal Inc (“Teal”), and RIS has sold 27 of the other Railcars to Greenbrier
Management Services (“Greenbrier”), but a dispute has arisen between the parties respecting
payment for these Railcars, and the sale of such other Railcars to Teal and Greenbrier (the
“Dispute”),

WHEREAS, RIS and Chartwell now desire to settle and amicably resolve the Dispute on the terms as
set out in this Agreement, without admitting any liability.

NOW THEREFORE, for valuable consideration, the receipt and adequacy of which is acknowledged
hereby, the parties agree as follows:

1. Termination of the Contracts. The Contracts are terminated in their entirety, effective
as of the date hereof. RIS shall have no further obligation to deliver Railcars to Chartwell, and
Chartwell will have no further obligation to purchase Railcars from RIS. Both parties acknowledge
that RIS has already delivered to Chartwell, and Chartwell has already accepted and fully paid for,
(the “Delivered Railcars”) the sixty Railcars listed on Exhibit “A” attached
hereto. Both parties further agree, ratify and consent to the prior sale of the remaining 35
Railcars to Greenbrier (27) and Teal (8), respectively (the “Remaining Railcars”) as listed
on Exhibit “B” attached hereto. The parties acknowledge that with respect to RIS the
Remaining Railcars sold to Teal have been sold on an as-is, where-is basis, that RIS makes no
warranties, expressed or implied, including as to merchantability or fitness for a particular
purpose, respecting such Remaining Railcars, and that Chartwell hereby disclaims all such
warranties. Chartwell represents and warrants to RIS that Chartwell, in its dealings with Teal,
has done nothing contrary to the foregoing or that might give Teal any reason to believe RIS has
made or is bound to any such warranties respecting the Remaining Railcars.

2. Payment to Chartwell. RIS shall pay to Chartwell via wire transfer $155,200.00 upon the
parties’ execution of this Agreement.

3. Security Interests in the Railcars. Effective upon its receipt of the payment described
in Section 2 above, Chartwell releases any and all security interests, liens or encumbrances it may
have or may have permitted or caused against the Remaining Railcars, or any revenue, proceeds

1

 

or related funds that RIS may have received or earned arising from the Railcars, or any inventory
or other property of RIS, and shall, at Chartwell’s own expense, promptly take such actions, and
execute such instruments and documents as may be necessary to effectuate such releases, including,
but not limited to, the filing of any necessary UCC Termination Statements. In addition, Chartwell
hereby irrevocably authorizes RIS to execute on behalf of Chartwell any UCC Termination Statement,
STB filings or similar documents that RIS determines to be necessary to effectuate such release.
Chartwell represents and warrants to RIS that no security interest, lien or encumbrance exists
except as and to the extent Chartwell has previously disclosed in writing to RIS.

4. Drawings and Specifications. RIS shall deliver to Chartwell the drawings and
specifications respecting the Delivered Railcars as more specifically described in Exhibit “C”
hereto.

5. Release of the Parties. For and in consideration of the mutual covenants set forth
herein, RIS, for itself and for any person, association or entity claiming by, through or under it
including, without limitation, any assigns, predecessors-in-interest, successors-in-interest,
divisions, all affiliated parent or subsidiary corporations or entities, agents, officers,
directors, employees, managers, supervisors, shareholders, representatives, attorneys, partners,
and any and all other persons or entities who have at any time acted, or purported to act on its
behalf, on the one hand, and Chartwell, for itself and for any person, association or entity
claiming by, through or under it including, without limitation, any assigns,
predecessors-in-interest, successors-in-interest, divisions, all affiliated parent or subsidiary
corporations or entities, agents, officers, directors, employees, managers, supervisors,
shareholders, representatives, attorneys, partners, and any and all other persons or entities who
have at any time acted, or purported to act on its behalf, on the other, to the fullest extent
allowed by law, expressly intend to release, and by execution of this Agreement do hereby release
and fully and forever discharge each other, of and from any and all judgments, liability, accounts,
agreements, debts, obligations, warranties, claims, demands, actions or causes of action, suits at
law, in equity or otherwise, of whatsoever kind or nature, including but not limited to, gross
negligence and wanton and willful conduct, and fraud, which either party may now have, hereafter
have or claim to have, known or unknown, contingent or fixed, foreseen and unforeseen damages of
any kind or nature, arising out of or in any way related to or resulting from the Contracts and
Dispute. However, the foregoing release does not extend to the parties’ obligations arising out of
this Agreement.

6. Choice of Law. It is the intention of the parties that the laws of the State of
Illinois should govern the validity of this Agreement, the construction of its terms, and the
interpretation of the rights and duties of the parties.

7. Disputes. Any controversy, dispute or claim arising out of or relating to this
Agreement or its breach shall be settled by binding arbitration in accordance with the rules of the
American Arbitration Association in hearings conducted in Chicago, Illinois before a panel of one
(1) arbitrator, and judgment upon the award rendered by the arbitrator may be entered in a federal
district court in Illinois, or in the Circuit Court of Will County, Illinois located in Joliet,
Illinois or in the Circuit Court of Cook County, Illinois located in Chicago, Illinois. The
parties agree that, for purposes of the preceding sentence, they are subject to and hereby submit
to the jurisdiction of such federal and state of Illinois courts and waive any right they may have
to contest such jurisdiction over it in any court proceedings brought pursuant to this Agreement.

2

 

8. Attorneys’ Fees. If any litigation, arbitration or mediation is commenced between the
parties to this Agreement concerning the rights and duties of either party in relation to this
Agreement, the prevailing party in the litigation shall be entitled to (in addition to any other
relief that may be granted) a reasonable sum as and for attorneys’ fees, which sum shall be
determined by the court or other person presiding in the litigation, arbitration or mediation or in
a separate action brought for that purpose.

9. Waiver of Jury Trial. RIS AND CHARTWELL WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY
ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THIS AGREEMENT. THIS WAIVER
IS KNOWINGLY AND INTENTIONALLY AND VOLUNTARILY MADE BY EACH OF THE PARTIES, AND EACH PARTY
ACKNOWLEDGES THAT NEITHER THE OTHER PARTY NOR ANY PERSON ACTING ON BEHALF OF SUCH OTHER PARTY HAS
MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR
NULLIFY ITS EFFECT. EACH PARTY FURTHER ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED (OR HAS HAD THE
OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS AGREEMENT AND IN THE MAKING OF THIS WAIVER BY
INDEPENDENT LEGAL COUNSEL, SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS HAD THE OPPORTUNITY TO
DISCUSS THIS WAIVER WITH COUNSEL. EACH PARTY FURTHER ACKNOWLEDGES THAT IT HAS READ AND UNDERSTANDS
THE MEANING AND RAMIFICATIONS OF THIS WAIVER PROVISION.

10. Severability. If any provision contained in this Agreement is held to be invalid or
unenforceable by a court of competent jurisdiction, such provision will be severed here from and
such invalidity or unenforceability will not affect any other provision of this Agreement, the
balance of which will remain in and have its intended full force and effect.

11. Successors and Assigns. Each and all of the covenants, terms, provisions and
agreements herein contained shall be binding upon and inure to the benefit of the parties hereto
and their respective heirs, legal representatives, successors and assigns. However, each party
expressly represents and warrants that it has not assigned or transferred to any person, firm,
corporation, partnership, association, or other entity whatsoever any or all of its rights, duties
or obligations embodied in this Agreement.

12. No Admission of Liability. The parties enter into this Agreement solely for the
purpose of compromising and settling the Dispute. Nothing contained in this Agreement constitutes,
and nothing in this Agreement shall be construed to constitute, an admission of any liability or
responsibility by any of the parties respecting the Dispute. This Agreement is made to avoid
continued and future disputes and controversies that the parties may have with each other, to
provide peace of mind for the parties, and to eliminate and forego the burdens and costs of
litigation.

13. Miscellaneous. This Agreement may not be amended without a written agreement by both
parties. This Agreement supersedes all prior agreements and contains the entire agreement among
all of the parties hereto with respect to the subject matter hereof, and the terms of this
Agreement are contractual, material and not a mere recital. Subject to the provisions of Section 8
above, each party shall bear its costs, expenses, and attorney’s fees, whether taxable or otherwise
incurred in, or arising out of, or in any way related to the matters released, including

3

 

without limitation, costs, expenses, attorneys fees and taxes incurred in, or arising out of, or
related to the subject matter of this Agreement and the Dispute. This Agreement may be executed in
two or more counterparts.

[The rest of this page is intentionally blank. The parties’ signatures appear on the following page.]

4

 

[Signature Page for Termination and Release Agreement.]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed the day and year
first above written.

	 	 	 	 	 	 	 	 	 	 	 
	RAILWAY & INDUSTRIAL SERVICES, INC.	 	 	 	CHARTWELL INTERNATIONAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 

Dan Schwarz
	 	 	 	 	 	 

Imre Eszenyi
	 	 
	 

	 	Executive Vice President
	 	 	 	 	 	Acting President	 	 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]