Document:

Mining lease

 Exhibit 10.21 
 THIS MINING LEASE is made the 27th day of September, 2007 between THE GOVERNMENT OF THE REPUBLIC OF GHANA (hereinafter called “the Government”) acting by ESTHER OBENG DAPPAH the Minister of Lands, Forestry and Mines (hereinafter
called “the Minister”) of the one part and FIRST CANADIAN GOLDFIELDS LIMITED having its registered address at P. O. BOX 16075, K.I.A., ACCRA (hereinafter called “the Company”) of the second part: 
 WHEREAS: 
 The Government is desirous of
developing its mineral resources in such manner as will ensure that the maximum possible benefits accrue to the nation from the exploitation of minerals and has agreed to grant the Company a Mining Lease on the terms and conditions hereinafter
following: 
 NOW THIS AGREEMENT WITNESSETH THAT: 
  

	 	1.	GRANT OF MINING RIGHTS: 

 (a) The
Government hereby grants to the Company mining rights to ALL that piece of land described in the schedule hereto and more particularly delineated on the Plan attached and shown edged red (hereinafter called “the Lease Area”) together with
mines, beds, seams, veins, channels and strata of gold lying and being within and under the surface for a term of four (4) years from the date of this Agreement. Such term shall be renewable from time to time in accordance with the Minerals and
Mining Act, 2006, (Act 703); 
 (b) The Government hereby grants to the Company the exclusive rights to work, develop and
produce gold in the Lease Area for the said term of four (4) years (including, the processing, storing and transportation of ore and materials together with the rights and powers reasonably incidental thereto) subject to the provisions of this
Agreement; 
 (c) The Company shall not, however, conduct any operations in a sacred area and shall not, without the prior
consent in writing of the Minister conduct any operations: 
 (i) within 50 yards of any building, installation,
reservoir of dam, public road, railway or area appropriated for railway; 
 (ii) in an area occupied by a market, burial
ground cemetery or Government office, or situated within a town or village or set apart for, used, appropriated or dedicated to a public purpose. 
 (d) The Company shall commence commercial production of gold within two (2) years from the date of this Mining Lease. 
 (e) The Company shall conduct its operations in a manner consistent with good commercial mining practices so as not to interfere unreasonably with vegetation in the Lease Area or with the customary rights and
privileges of persons to farm, hunt and snare game, gather firewood for domestic purposes or to collect snails. 

 (f) The public shall be permitted at their sole risk to use without charge, any road
constructed by the Company in the Lease Area, in a manner consistent with good mining practices, safety and security, provided that such use does not unreasonably interfere with the operations of the Company hereunder and provided also that such
permission shall not extend to areas enclosed for mining operations. 
 (g) Nothing contained in this Agreement shall be
deemed to confer any rights on the Company conflicting with provisions contained in the Minerals and Mining Act, 2006, (Act 703) or to permit the Company to dispense with the necessity of applying for and obtaining any permit or authorization
which the Company may be required by law or regulation to obtain in respect of any work or activity proposed to be carried out hereunder. 
  

	 	2.	GRANT OF RIGHTS TO THIRD PARTIES IN THE MINING AREA: 

 (a) Subject to satisfactory arrangements between the Government and the Company, the Government shall grant the first option to the Company to work minerals other than gold and silver discovered in the Lease Area.

 (b) Failing such satisfactory arrangements between the Government and the Company, the Government reserves the right to
grant licences to third parties to prospect for or to enter into agreements for the production of minerals other than gold and silver in the Lease Area, provided that any such activity shall not unreasonably interfere with the rights granted to the
Company hereunder. 
  

	 	3.	POWER OF GOVERNMENT TO EXCLUDE PARTS OF THE MINING AREA: 

 (a) The Government may by reasonable notice in writing to the Company exclude from the Lease Area, at any time and from time to time, any part which may be required for any stated public purpose whatsoever, provided
that: 
 (i) The parts so excluded shall not have a surface area in the aggregate greater than ten percent of the Lease
Area. 
 (ii) Any parts of the Lease Area so excluded shall continue to form part of the Lease Area subject to this Agreement.

 (iii) except that no mining operations shall be conducted on the parts so excluded. 
 (iv) No part of the Lease Area shall be so excluded in respect of which the Company shall have given prior notice specifying that such
part is required for mining operations hereunder or on which active operations have commenced or are in progress (such as digging, construction, installation or other works related to gold and silver mining) but, in lieu thereof, a part equal in
area to any such part shall be excluded for such public purposes; and 
  

 2 

 (v) The Government shall not take to itself or grant to third parties the right to mine
gold and silver from any part so excluded. 
 (b) The company shall be relieved of all liabilities or obligations hereunder in
respect of any part excluded under this paragraph except liabilities or obligations accrued prior to such exclusion. 
  

	 	4.	WORK OBLIGATION: 

 The Company shall
continuously operate in the Lease Area in accordance with good mining practices until such time as the reserves or deposits may be exhausted or the mine can no longer be economically worked or until this Agreement expires, whichever shall be sooner.

  

	 	5.	CONDUCT OF OPERATIONS: 

 (a) The
Company shall conduct all of its operations hereunder with due diligence, efficiency, safety and economy, in accordance with good mining practices and in a proper and workmanlike manner, observing sound technical and engineering principles using
appropriate modern and effective equipment, machinery, materials and methods, and pay particular regard to conservation of resources, reclamation of land and environmental protection generally. 
 (b) The Company shall mine and extract ore in accordance with paragraph 5(a) herein utilizing methods, which include dredging,
quarrying, pitting, trenching, stoping and shaft sinking in the Lease Area. 
 (c) The company shall maintain all equipment in
good and safe condition, normal wear and tear excluded, and shall keep all excavated areas, shafts, pits and trenches in good and safe condition and take all practical steps: 
 (i) to prevent damage to adjoining farms and villages; 
 (ii) to avoid damage to trees, crops, buildings structures and other property in the Lease Area; to the extent, however, that any such
damage is necessary or unavoidable, the Company shall pay fair and reasonable compensation. 
 (d) The Company shall fence off
effectually from the adjoining lands, all pits, shafts and other works made or used under the powers hereof. 
 (e) The
company shall as far as is necessary or practicable provide and maintain in good repair and condition roads, gates, stiles and fences for the convenient occupation of the surface of the Lease Area. 
 (f) The Company shall provide and maintain proper and sufficient drains, culverts, arches and passageways for carrying off any waters
which shall arise or be produced or interrupted by any of the works hereby authorized so that the drainage of the Lease Area may not be prevented or prejudiced. 
  

 3 

	 	6.	NOTIFICATION OF DISCOVERY OF OTHER MINERALS: 

 (a) The Company shall report forthwith to the Minister, the Chief Executive of the Minerals Commission, the Head, Inspectorate Division of the Minerals Commission and the Director of Ghana Geological Survey, the
discovery in the Lease Area of any other mineral deposits apart from gold and silver and the Company shall be given the first option to prospect further and to work the said minerals, subject to satisfactory arrangements between the Government and
the Company. 
 (b) Failing any such satisfactory arrangements the Company shall not produce any minerals from the Lease Area
other than gold and silver except where they are unavoidably linked with the production of gold and silver. 
  

	 	7.	SAMPLES: 

 (a) The Company shall not
during the currency of this agreement remove, dispose of or destroy, except in analyses, any cores or samples obtained from the Lease Area without the prior consent in writing of the Head of the Inspectorate Division of the Minerals Commission.

 (b) The Company shall provide the Director of Ghana Geological Survey with such samples from the Lease Area as he may from
time to time reasonably request, and shall keep such samples as he may be directed to do so by the Head of the Inspectorate Division of the Minerals Commission. 
  

	 	8.	HEALTH, SAFETY AND ENVIRONMENTAL PROTECTION: 

 (a) The Company shall comply with all such reasonable instructions as may from time to time be given by the Inspectorate Division of the Minerals Commission for securing the health and safety of persons engaged in or
connected with the operations hereunder. 
 The Company shall adopt all necessary and practical precautionary measures to
prevent undue pollution of rivers and other potable water and to ensure that such pollution does not cause harm or destruction to human or animal life or fresh water fish or vegetation. 
  

	 	9.	POWER OF HEAD OF THE INSPECTORATE DIVISION OF THE MINERALS COMMISSION TO EXECUTE CERTAIN WORKS: If the Company shall at any time fail to comply with any provisions of this
Agreement or applicable law and such failure is likely, in the opinion of the Head of the Inspectorate Division of the Minerals Commission, to: 

 (i) endanger the health or safety of persons, or 
 (ii) endanger the environment, or 
 (iii) cause harm or destruction to potable water; or 
  

 4 

 (iv) result in damage to mining equipment or other structures or installation;

 the Head of the Inspectorate Division of the Minerals Commission, shall after giving the Company reasonable notice, execute
any works which in his opinion are necessary and practicable in the circumstances and the costs and expenses of such works shall be borne by the Company. 
  

	 	10.	LIABILITY FOR DAMAGE OR INJURY AND INDEMNITY: 

 (a) Nothing in this Agreement shall exempt the Company from liability for any damage, loss or injury caused to any person, property or interest as a result of the exercise by the Company of any rights or powers
granted to it under this Agreement. 
 (b) The Company shall at all times indemnify the Government and its officers and agents
against all claims and liabilities in respect of any loss suffered by or damage done to third parties arising out of the exercise by the Company of any rights or powers granted to it under this Agreement provided that the Company shall not so
indemnify the Government, its officers and agents where the claim or liability arises out of the wrongful or negligent acts of the Government, its officers and agents. 
  

	 	11.	EMPLOYMENT AND TRAINING: 

 (a)
Citizens of Ghana shall be given preference for employment by the Company in all phases of its operations hereunder to the maximum possible extent, consistent with safety, efficiency and economy. 
 (b) Except with respect to unskilled personnel, the Company may employ non-Ghanaian personnel in the conduct of its operations provided
that the number of such non-Ghanaian personnel employed shall not exceed the quota permitted by the Government. 
 (c) The
Company shall provide appropriate programmes of instruction and theoretical and practical training to ensure the advancement, development, improved skills and qualification of Ghanaian employees in all categories of employment. 
  

	 	12.	PREFERENCE FOR GHANAIAN GOODS AND SERVICES: 

 In the conduct of its operations and in the purchase, construction and installation of facilities, the Company shall give preference to: 
 (a) materials and products made in Ghana, if such materials and products are comparable or better in price, quality and delivery dates than materials and products from foreign sources; 
 (b) service agencies located in Ghana owned by Ghanaian citizens or companies organized pursuant to Ghanaian law, including but not
limited to, insurance agencies, bidding contractors, import brokers, dealers and agents if such agencies give or provide equal or better price and quality of service than competing foreign firms and can render services at such times as the Company
may require. 
  

 5 

	 	13.	AFFILIATED COMPANY TRANSACTIONS: 

 (a) Any services including services in respect of the purchase and acquisition of materials outside Ghana provided by an affiliated company shall be obtained only at a price, which is fair and reasonable. The Company shall, at the request
of the Minister, provide such justification of costs as may be required, duly supported by an Auditor’s certificate if necessary. 
 (b) Any other transactions between the Company and an affiliated company shall be on the basis of competitive international prices and upon such terms and conditions as would be fair and reasonable had such
transactions taken place between unrelated parties. 
 (c) The Company shall notify the Minister of any and all transactions
between the Company and an affiliated company and shall supply such details relating to such transactions as the Minister may by notice reasonably require. 
  

	 	14.	TECHNICAL RECORDS: 

 (a) The Company
shall maintain at its registered or mine offices complete records of pits and trenches (location, depths of overburden and gravel and assay value) in the Lease Area in such form as may from time to time be approved by the Head of the Inspectorate
Division of the Minerals Commission, Chief Executive of the Minerals Commission and the Director of Ghana Geological Survey. 
 (b) The Company shall maintain at the said offices copies of all reports including interpretations dealing with gold and silver prospects in the Lease Area in the course of its operations hereunder and copies of all tests and analyses,
geological and geophysical maps, diagrams or charts relevant to its operations hereunder. These reports and records may be examined by persons in the service or acting on behalf of the Government and authorized in writing by the Minister.

 (C) The Company shall maintain at the said offices correct and intelligible plans and sections of all mines which plans and
sections shall show the operations and workings which have been carried on as well as dykes, veins, faults and other disturbances which have been encountered in such workings and operations. All such plans and sections shall be made, amended and
completed from actual surveys conducted for that purpose. 
 (c) Upon expiration or termination of this Agreement or the
surrender of any part of the Lease Area, such records and data as are required to be maintained pursuant to this paragraph which relate to the Lease Area, or such part of the Lease Area as may have been surrendered shall be delivered to the Head of
the Inspectorate Division of the Minerals Commission, Chief Executive of the Minerals Commission and the Director of Ghana Geological Survey and shall become the property of the Government without charge. 
  

 6 

	 	15.	PRODUCTION RECORDS: 

 The Company
shall maintain at its registered or mine offices complete and accurate technical records of its operations and production in the Lease Area in such form as may from time to time be approved by the Head of the Inspectorate Division of the Minerals
Commission. 
  

	 	16.	FINANCIAL RECORDS: 

 (a) The Company
shall maintain at its registered or mine offices, detailed and complete accounts and systematic financial records of its operations as may be required by law. The books of account shall show all revenues received by the Company from all sources
including its operations hereunder, as well as all its expenditure. The Company shall provide for a clear basis for understanding and relating the financial records and accounts to its operations. 
 (b) The Company’s books of account shall be kept on the basis of generally accepted accounting principles. 
 (c) The Company shall keep separately records and financial statements in terms of Ghana currency and also in terms of U.S. Dollars
or other international currency and may record in foreign currency such claims and liabilities as arise in such foreign currency. 
 (d) The Company’s books of account shall be audited within six (6) months after the close of each Financial Year by a qualified Accountant and member of the Ghana Institute of Chartered Accountants. Such auditing shall not in any
way imply acceptance of its results by the Government or preclude the Government from auditing such books of account. The Company shall deliver to the Minister without charge, copies of all or any part of such financial records as he may from time
to time reasonably request. 
  

	 	17.	REPORTS: 

 (a) The Company shall
furnish a report each quarter, to the Minister, the Head of the Inspectorate Division of the Minerals Commission, the Chief Executive of the Minerals Commission and the Director of Ghana Geological Survey, in such forms as may from time to time be
approved by the Minister, regarding the quantities of gold and silver won in that quarter, quantities sold, the revenue received and royalties payable for that quarter and such other information as may be required. Such reports shall be submitted
not later than thirty (30) days after the end of each quarter. 
 (b) The Company shall furnish a report each half-year
to the Minister, the Chief Inspector of Mines of the Inspectorate Division, Minerals Commission, the Chief Executive of the Minerals Commission and the Director of Ghana Geological Survey in such form as may from time to time be approved by the
Minister summarising the results of its operations in the Lease Area during the half-year and records to be kept by the Company pursuant to paragraphs 14, 15 and 16 hereof. Each such report shall include a description of any geological or
geophysical work carried out by the Company in that half-year and a plan upon a scale approved by the Head of the Inspectorate Division of the Minerals Commission showing dredging areas and mine workings. Such reports shall be submitted not later
than forty (40) days after the half-year to which they relate. 
  

 7 

 (c) The Company shall furnish a report each Financial Year in such form as may from time
to time be approved by the Minister to the Head of the Inspectorate Division of the Minerals Commission, the Chief Executive of the Minerals Commission and the Director of Ghana Geological Survey Department summarising the results of its operations
in the Lease Area during that Financial Year and the records required to be kept by the Company pursuant to paragraphs 14, 15, and 16 hereof. Each such report shall include a description of the proposed operations for the following year with an
estimate of the production and revenue to be obtained therefrom. Such reports shall be submitted not later than sixty (60) days after the end of each Financial Year. 
 (d) The Company shall furnish the Minister, the Head of the Inspectorate Division of the Minerals Commission, the Chief Executive of the
Minerals Commission and the Director of Ghana Geological Survey not later than three (3) months after the expiration or termination of this Agreement, with a report giving an account of the geology of the Lease Area including the stratigraphic
and structural conditions, together with a geological map on a scale prescribed in the Mining Regulations. 
 (e) The Company
shall furnish the Minister and the Chief Executive of the Minerals Commission, with a report of the particulars of any proposed alteration to its regulations. The Company shall also furnish the Minister and the Chief Executive of the Minerals
Commission with a report on the particulars of any fresh issues of shares of its capital stock or borrowings in excess of an amount equivalent to the Stated Capital of the Company. All such reports shall be in such form as the Minister may require
and shall be submitted not less than twenty-one (21) days (or such lesser period as the Minister may agree) in advance of any proposed alteration, fresh issue or borrowing, as the case may be. 
 (f) The Company shall, not later than 180 days after the end of each Financial Year, furnish the Minister and the Chief Executive of
the Minerals Commission with a copy each of its annual financial reports including a balance sheet, profit and loss account, and all notes pertaining thereto, duly certified by a qualified accountant who is a member of the Ghana Institute of
Chartered Accountants. Such certificate shall not in any way imply acceptance of such reports by the Government or preclude the Government from auditing the Company’s books of account. 
 (g) The Company shall furnish the Minister, the Head of the Inspectorate Division of the Minerals Commission, the Chief Executive of the
Minerals Commission and the Director of Ghana Geological Survey with such other reports and information concerning its operations as they may from time to time reasonably require. 
  

	 	18.	INSPECTION: 

 (a) Any person or
persons in the service of or acting on behalf of the Government and authorized in writing by the Minister shall be entitled at all reasonable times to enter into and upon any part of the Lease Area and the Company’s registered office, for any
of the following purposes: 
 (i) to examine the mine workings, equipment, buildings, installation and any other structures
used in the mining operation; 
  

 8 

 (ii) to inspect the samples which the Company is required to keep in accordance with the
provisions of this Agreement; 
 (iii) to inspect and check the accuracy of the weights and measures and weighing and
measuring devices, used or kept by the Company; 
 (iv) to examine and make abstracts of the books and records kept by the
Company pursuant to this Agreement; 
 (v) to verify or ensure compliance by the Company with all applicable laws and
regulations and with its obligations hereunder; 
 (vi) to execute any works which the Head of the Inspectorate Division of
the Minerals Commission may be entitled to execute in accordance with the provisions of the Mining Laws and Regulations of Ghana, or of this Agreement. 
 (b) The Company shall make reasonable arrangements to facilitate any such work or inspection, including making available employees of the Company to render assistance with respect to any such work or inspection. All
such works and inspections shall be listed by the Company in the reports and furnished each half year. 
  

	 	19.	CONFIDENTIAL TREATMENT: 

 The
Government shall treat all information supplied by the Company hereunder as confidential for a period of five (5) years from the date of submission of such information or upon termination of this Agreement whichever is sooner and shall not
reveal such information to third parties except with the written consent of the Company which consent shall not be unreasonably withheld. The Government and persons authorized by the Government may nevertheless use such information received from the
Company for the purpose of preparing and publishing general reports on Minerals in Ghana and in connection with any dispute between the Government and the Company. 
  

	 	20.	FINANCIAL OBLIGATIONS: 

 (a)
Consideration Fees: 
 The Company shall, in consideration of the grant of the Mining Lease pay to Government an amount
of US$30,000.00 (thirty thousand U.S. Dollars). 
 (b) Rent: 
 The Company shall pay rent (which shall be subject to review) at the rate of Ë105,000.00 (one hundred and
five thousand cedis) or GH¢ 10.50 (ten Ghana cedis, fifty pesewas) i.e. (Ë5,000 or 50Gp per square kilometre) 
  

 9 

 (i) the said rent shall be paid half yearly in advance on or before the first day of
January and on or before the first day of July in each year. 
 (ii) in the event of a surrender of any part of the Lease Area
pursuant to paragraph 25 hereof, no rental payments shall be refunded in whole or in part of any area so surrendered for which yearly rental has been paid in advance or shall rental payments be refunded in the event of termination. 

 

	 	21.	ROYALTIES: 

 (a) The Company shall
pay to the Government royalty as prescribed by legislation. 
 (b) The Company shall pay royalty to the Government each
quarter through the Commissioner of Internal Revenue based on the production for that quarter, within thirty (30) days from the end of the quarter. 
 Any necessary adjustments shall be made annually within sixty (60) days of the end of each Financial Year, except that any over-payment of royalty shall not be refunded by the Government but shall be credited
against royalty due and payable in the next quarter. 
 (c) In the event of a dispute with respect to the amount of royalty
payable hereunder, the Company shall first make payment of the lower of the disputed amounts and shall pay forthwith any further royalty which shall be agreed upon or determined to be payable by arbitration in accordance with paragraph 35
hereof. Such further royalty shall carry interest to be agreed upon or at the ruling prime rate in Ghana at the time of the award or agreement to take effect from the date on which such amount ought originally to have been paid. 
 (d) The Company shall also pay royalty on all timber felled by the Company in accordance with existing legislation. 
  

	 	22.	LATE PAYMENTS: 

 (a) Anything herein
contained to the contrary notwithstanding, the Company shall pay as penalty for any late payment of any amounts due to the Government hereunder, an additional amount calculated at the Bank of Ghana re-discount rate for every thirty-day period or
part thereof for the period of the delay in paying the amounts, that is to say, the period between the actual payment date and the date on which each such payment should have been made. 
 (b) In the event the Company shall fail to make payment to the Government of any amount due hereunder, the Government without prejudice to
any other rights and remedies to which it may be entitled, may, after giving 30 days notice in writing, enter into and upon the Lease Area and seize and distrain and sell as landlords may do for rent in arrears, all or any of the stocks of gold
and silver produced therefrom, and the plant and equipment, materials and supplies belonging to the Company which shall be thereon; and out of the monies obtained from the sale in respect of such distress may retain and pay all of the arrears of any
amounts due hereunder and the costs and expenses incidental to any such distress and sale and deliver up the surplus (if any) to the Company. 
  

 10 

	 	23.	TAXATION: 

 (a) The Company shall
not be required to deduct or withhold any taxes from any payment made from its external account of which is authorized under the terms of the Minerals and Mining Act, 2006 (Act 703) of: 
 (i) any interest or other costs or fees paid in respect of any borrowing by or on behalf of the company in foreign currency for the
project; 
 (ii) any dividends paid to the shareholders. 
 (b) Save for the above, the Company shall pay tax in accordance with the laws of Ghana. 
  

	 	24.	FOREIGN EXCHANGE: 

 All foreign
exchange transactions shall be in accordance with the laws of Ghana. 
  

	 	25.	SURRENDER: 

 (a) The Company may
surrender at any time and from time to time, by giving not less than two months’ notice to the Minister, all its rights hereunder in respect of any part of the Lease Area not larger in the aggregate than 20% of the said Area. The Company may
surrender a larger part of the Lease Area by giving not less than twelve (12) months’ notice to the Minister. The Company shall be relieved of all obligations in respect of the part or parts of the Lease Area so surrendered except those
obligations, which accrued prior to the effective date of surrender. 
 (b) The Company shall leave the part of the Lease Area
surrendered and everything thereon in a good and safe condition, provided, however that the Company shall have no such obligations for areas surrendered on which the company has not undertaken any works or which have not been affected by the
operations of the Company. The Company shall take all reasonable measures, in accordance with good mining practices to leave the surface of such part of the Lease Area surrendered, in good and usable condition having regard to the ecology, drainage,
reclamation and the protection of the environment. In the event that the Company fails to do so, the Minister shall make such part and everything thereon safe and in good, usable condition at the expense of the Company. The provisions of
sub-paragraphs (a) and (c) of paragraph 29 hereof shall apply. 
 (c) The Company shall, on such terms and
conditions as may be agreed upon between the Government and the Company, be entitled to such wayleaves, easements or other rights through or across the surrendered part or parts as may be necessary for its operations and such wayleaves shall not
form part or be included in the calculation of the area of the retained part. 
 (d) The Government may require that there be
reserved over any part surrendered such wayleaves, easements or other rights as will in its opinion be necessary or convenient to any party to whom the Government may subsequently grant a prospecting licence or mining lease. 
  

 11 

	 	26.	EXTENSION: 

 If the Company, not
less than six (6) months before the expiration of this Agreement, applies to the Minister for an extension of the term hereof and if the Company shall not be in default at that time in the performance of any of its obligations hereunder, the
Company shall be entitled to an extension of the period of this Agreement upon such terms and conditions as the parties may then agree. 
  

	 	27.	COMPANY’S RIGHT TO TERMINATE AGREEMENT: 

 The Company may, if in its opinion the mine can no longer be economically worked, terminate this Agreement by giving not less than nine (9) months’ notice to the Government. Such termination shall be without
prejudice to any obligation or liability incurred by the Company hereunder prior to the effective date of such termination. 
  

	 	28.	GOVERNMENT’S RIGHT TO TERMINATE AGREEMENT: 

 (a) The Government may, subject to the provisions of this paragraph, terminate this Agreement if any of the following events shall occur: 
 (i) the Company shall fail to make any of the payments provided for in this Agreement on the payment date; 
 (ii) the Company shall contravene or fail to comply with any other provisions of this Agreement; or 
 (iii) the Company shall become insolvent or bankrupt or enter into any agreement or composition with its creditors or take advantage of
any law for the benefit of debtors or go into liquidation, whether compulsory or voluntary, except for the purposes of reconstruction or amalgamation; or 
 (iv) the Company makes a written statement to the Government on any material matter in connection with this Agreement or with its operations which the Company knows to be false or makes recklessly without due regard
as to whether it was true or false. 
 (b) If and whenever the Government decides there are grounds to terminate this
Agreement pursuant to clauses (i) and (ii) of the preceding sub-paragraph, the Government shall give the Company notice specifying the particular contravention or failure and permit the Company to remedy same within one hundred and
twenty (120) days of such notice, or such longer period as the Minister may specify in such notice as being reasonable in the circumstances. 
  

 12 

 (c) If the Company shall fail to remedy any event specified in clauses (i) and
(ii) of sub-paragraph (a) of this paragraph within the stated period, or an event specified in clauses (iii) and (iv) of the said sub-paragraph shall occur, the Government may by notice to the Company terminate this Agreement,
provided that if the Company disputes whether there has been any contravention or failure to comply with the conditions hereof (including any dispute as to the calculation of payments by the Company to the Government hereunder), and the Company
shall, within such period as aforesaid refer the dispute to arbitration in accordance with paragraph 35 hereof and, thereafter, diligently prosecute its claim thereunder, the Government shall not terminate this Agreement except as the same may
be consistent with the terms of the arbitration award. 
 (d) No delay or omission or course of dealing by the Government
shall impair any of its rights hereunder or be construed to be a waiver of any event specified in sub-paragraph (a) of this paragraph or an acquiescence therein. 
 (e) Upon termination of this Agreement, every right of the Company hereunder shall cease (save as otherwise specifically provided
hereunder) but subject nevertheless and without prejudice to any obligation or liability imposed or incurred under this Agreement prior to the effective date of termination and to such rights as the Government may have under the law. 
  

	 	29.	ASSETS ON TERMINATION OR EXPIRATION: 

 (a) The Company may within six months of the termination of the Mining Lease or a further period allowed by the Minister, remove the mining plant if the mining plant is removed solely for the purpose of use by the Company or a person
deriving title through the Company, in another relevant mining activity in the Country. 
 (b) A mining plant not removed by
the Company within two months after notice is given by the Minister to the Company at anytime after expiration of the period referred to in subsection (a), shall vest in the Republic on the expiration of the two month notice period.

 (c) Nothing in this Agreement removes or diminishes an obligation that the Company may have under the Minerals and Mining
Act, 2006, (Act 703), another enactment or a condition of this Agreement to remove a mining plant and rehabilitate the land. 
 (d) Notwithstanding the foregoing, the Minister, may by notice to the Company require the removal or destruction of any assets of the Company in the Leased Area, and if the Company does not remove or destroy such assets within a period of
thirty (30) days from the date of the Minister’s notice to that effect, the Minister shall cause such removal or destruction at the expense of the Company. 
 (e) The Company shall take all reasonable measures to ensure that all of the assets to be offered for sale to the Government or
transferred to the Government in accordance with this paragraph shall be maintained in substantially the same condition in which they were at the date of the termination or the date on which the Company reasonably knew that such termination would
occur and any such assets shall not be disposed of, dismantled or destroyed except as specifically provided for in this paragraph. 
  

 13 

 (f) Upon the termination or expiration of this Agreement, the Company shall leave the
Lease Area and everything thereon in good condition, having regard to the ecology, drainage, reclamation, environmental protection, health and safety; provided however that the Company shall have no obligation in respect of areas where the Company
has not undertaken any work or which have not been affected by the Company’s operations. In this connection, unless the Chief Inspector of Mines otherwise directs, the Company shall, in accordance with good mining practices, fill up or fence
and make safe all holes and excavations to the reasonable satisfaction of the Chief Inspector of Mines. In addition the Company shall take all reasonable measures to leave the surface of the Lease Area in usable condition and to restore all
structures thereon not the property of the Company to their original condition. In the event that the Company fails to do so, the Minister shall restore and make safe the Lease Area and everything thereon at the expense of the Company. 

(g) The Company shall have the right to enter upon the Lease Area for the aforesaid purposes, subject to the rights of surface owners
or others, for a period of six (6) months from the effective date of the termination or such longer period as the Minister may decide. 
 (h) On the termination of this Agreement, the Company shall deliver to the Minister the records which the Company is obliged to maintain under the Minerals and Mining Act, 2006, (Act 703); the plans and maps of
the area covered by the mining lease prepared by the Company; and other documents, including in electronic format, if available that relate to the mineral right. 
  

	 	30.	FORCE MAJEURE: 

 (a) For the purpose
of this paragraph, force majeure includes acts of God, war, strikes, insurrection, riots, earthquakes, storm, flood or other adverse weather conditions or any other event which the Company could not reasonably be expected to prevent or control, but
shall not include any event caused by a failure to observe good mining practices or by the negligence of the Company or any of its employees or contractors. 
 (b) The Company shall notify the Minister within forty-eight (48) hours of any event of force majeure affecting its ability to fulfil
the conditions hereof or of any events, which may endanger the natural resources of Ghana and similarly notify the Government of the restoration of normal conditions within forty-eight hours of such restoration. This provision shall be in addition
to any requirements contained in the Mining Regulations in force in Ghana. 
 (c) All obligations on the part of the Company
to comply with any of the conditions herein (except the obligation to make payment of monies due to the Government) shall be suspended during the period the Company is prevented by force majeure from fulfilling such obligations, the Company having
taken all reasonable precautions, due care and reasonable alternative measures with the objective of avoiding such non-compliance and of carrying out its obligations hereunder. The Company shall take all reasonable steps to remove such causes of the
inability to fulfil the terms and conditions hereof with the minimum of delay. 
  

 14 

 (d) The terms of this Agreement shall be extended for a period of time equal to the
period or periods during which the company was affected by conditions set forth in the sub-paragraph (a) and (b) of this paragraph or for such period as may be agreed by the parties. 
  

	 	31.	POLITICAL ACTIVITY: 

 The Company
shall not engage in political activity of any kind in Ghana or make a donation, gift or grant to any political party. The Company shall make it a condition of employment that no employee, other than a citizen of Ghana shall engage in political
activity and shall not make donations, gifts or grants to any political party. In the event of any such employee acting in disregard to this condition, he shall be dismissed forthwith. 
  

	 	32.	ADVERTISEMENTS, PROSPECTUSES, ETC: 

 Neither the Company nor any affiliated Company shall in any manner claim or suggest, whether expressly or by implication that the Government or any agency or official thereof, has expressed any opinion with respect to gold in the Lease Area
and no statement to this effect shall be included in or endorsed on any prospectus notice, circular, advertisement, press release or similar document issued by the Company or any affiliated Company for the purpose of raising new capital. 

 

	 	33.	CO-OPERATION OF THE PARTIES: 

 Each
of the parties hereto undertake that it will from time to time do all such acts and make, enter into, execute, acknowledge and deliver at the request of the other party, such supplemental or additional instruments, documents, agreements, consents,
information or otherwise as may be reasonably required for the purpose of implementing or further assuring the rights and obligations of the other party under this Agreement. 
  

	 	34.	NOTICE: 

 Any application, notice,
consent, approval, direction, instruction or waiver hereunder shall be in writing and shall be delivered by hand or by registered mail. Delivery by hand shall be deemed to be effective from the time of delivery and delivery by registered mail shall
be deemed to be effective from such time as it would in the ordinary course of registered mail be delivered to the addressee. 
  

	 	35.	ARBITRATION AND SETTLEMENT OF DISPUTES: 

 (a) Any dispute between the parties in respect of the interpretation or enforcement of the provisions of this document shall be settled in accordance with the procedures available in Ghana for the settlement of such dispute provided that at
the instance of either of the parties any such dispute may be submitted for settlement by arbitration under the Arbitration Rule of the United Nations Commission on International Trade Law (the “UNCITRAL Rule”). 
 (b) Any arbitration under the UNCITRAL Rules shall be by three (3) arbitrators unless the parties agree to a single arbitrator. The
place of arbitration shall be Accra and the proceedings shall be in English unless the parties otherwise agree. Ghana Law shall be the law applicable to the proceedings. 
  

 15 

 (c) Nothing in clause 35(a) or 35(b) shall prevent either of the parties from
requesting any judicial authority to order provisional measures prior to the initiation of arbitration proceedings or during the proceedings for the preservation of their respective rights. 
 (d) The parties acknowledge and that this Agreement was made on the basis of the laws and conditions prevailing at the date of the
effective conclusions of the negotiation of this Agreement and accordingly, if thereafter, new laws and conditions come into existence which unfairly affect the interest of either party to this Agreement, then the party so unfairly affected shall be
entitled to request a re-negotiation and the parties shall thereupon re-negotiate. 
 (e) The parties hereby undertake and
covenant with each other to make every effort to agree, co-operate, negotiate and to take such action as may be necessary to remove the causes of unfairness or disputes. 
  

	 	36.	ASSIGNMENT AND TRANSFER OF RIGHTS: 

 (a) This Agreement shall not be assignable in whole or in part by the Company without the prior consent in writing of the Government 
 (b) The Government may impose such conditions precedent to the giving of such consent as it may deem appropriate in the circumstances. No assignment, however, may relieve the Company of its obligations under this
Agreement except to the extent that such obligations are actually assumed by the Assignee. 
 (c) During the term of this
Agreement, no shares of the capital stock of the Company may be transferred except in accordance with the Minerals and Mining Law. 
  

	 	37.	HEADINGS: 

 The headings given to
paragraphs in this Agreement are for convenience only and shall not affect the construction or interpretation of this Agreement. 
  

	 	38.	GOVERNING LAWS: 

 This Agreement
shall be governed and construed in accordance with the Laws of Ghana. 
  

 16 

 [BENSO MINING LEASE APPLICATION] 
 [MAP ATTACHED] 

 THIS IS THE PLAN REFERRED TO 
 IN THE ANNEXED MINING LEASE 
 DATED THIS 27th
DAY OF SEPTEMBER 2007 
 THE HON. MINISTER OF LANDS, FORESTRY AND MINES 
 HON. MINISTER 
 MIN. OF LANDS, FORESTRY

 AND MINES 
 P.O. BOX MB 212,
ACCRA 
  

	
	[SEAL]
	
	/s/ Peter Bradford
	PETER BRADFORD
	CHAIRMAN/DIRECTOR

 THE SCHEDULE ABOVE REFERRED TO 
 All that piece or parcel of land containing an approximate total area of 20.38 square kilometers Lying to the North of Latitudes 5° 10’
00”, 5° 09’ 35”, and 5° 10’ 22”; South of Latitudes 5° 12’ 12”, 5° 12’ 14”, and 5° 13’ 10; East of Longitudes 1° 54’ 29, 1° 54’ 28” and 1° 53’
52”; West of Longitudes 1° 52’ 29”, and 1°52’ 20” in the Wassa West District of the Western Region of the Republic of Ghana which piece or parcel of land is more particularly delineated on the plan annexed hereto for
the purposes of identification and not of limitation. 

 IN WITNESS OF WHICH the Parties have respectively executed the original and counterpart of this Agreement on the date
first above written. 
  

					
	 SIGNED BY THE GOVERNMENT OF THE
	  	]	  	
	 REPUBLIC OF GHANA acting by
	  	]	  	
	  
 ESTHER OBENG DAPPAH, the
Minister
	  	]	  	/s/ E. Dappah
	 of Lands, Forestry and Mines who by this
	  	]	  	HON. MINISTER
	 execution warrants to the other party that he
	  	]	  	MIN. OF LANDS, FORESTRY
	 is duly authorized and empowered to enter
	  	]	  	AND MINES
	 into this Agreement in the presence of:
	  	]	  	P.O. BOX MB 212, ACCRA
			
	/s/ [ILLEGIBLE]	  		  	
			
	 CHIEF DIRECTOR
	  		  	
	MINISTRY OF LANDS, FORESTRY AND MINES	  		  	
			
	SIGNED BY THE WITHIN-NAMED	  	]	  	
			
	 FIRST CANADIAN GOLDFIELDS LIMITED
	  	]	  	
	 acting by its Chief Executive/Managing Director
	  	]	  	
	 who by this execution warrants to the other
	  	]	  	
	 party that he is duly authorized and
	  	]	  	
	 empowered to enter into this Agreement in
	  	]	  	
	 the presence of:
	  	]	  	

 [SEAL] 
  

					
	/s/ Lt. Col. A.Y.K. Disu	 		 	/s/ Peter J.L. Bradford
	LT COL. A.Y.K DISU	 		 	PETER J.L. BRADFORD
	DIRECTOR/SECRETARY	 		 	MANAGING DIRECTOR

 OATH OF PROOF 
 I, George Banful of ACCRA make oath and say that on the 27th day of September 2007 I was present and saw ESTHER OBENG DAPPAH, Minister of Lands, Forestry and Mines duly execute the Instrument now
produced to me and marked “A” and that the said ESTHER OBENG DAPPAH can read and write. 
 SWORN at Accra, this 21st day of
November 2007 
 BEFORE ME 
  

					
		 		 	
			
	/s/ [ILLEGIBLE]	 		 	/s/ [ILLEGIBLE]
	REGISTRAR OF LANDS	 		 	DEPONENT

 This is the Instrument Marked “A” Referred to in the Oath of George Banful Sworn
before me this 21st day of November 2007. 
  

	
	
	
	/s/ [ILLEGIBLE]
	REGISTRAR OF LANDS

 CERTIFICATE OF PROOF 
 On the 21st day of November 2007 at 1:30 O’clock in the after noon this Instrument was proved before me by the Oath of the within-named George
Banful to have been duly executed by the within-named ESTHER OBENG DAPPAH for and on behalf of “the Government” of the Republic of Ghana for Lessor herein. 
  

	
	
	
	/s/ [ILLEGIBLE]
	REGISTRAR OF LANDS

 Dated this 27th day of September 2007 
 [SEAL] 
 GOVERNMENT OF THE REPUBLIC OF GHANA 
 AND 
 FIRST CANADIAN GOLDFIELDS LIMITED 
  
  
 MINING LEASE 
  
  
 [SEAL] 
  

							
		 	 TERM:
	  	FOUR (4) YEARS	  	
		 	 COMMENCEMENT:
	  	27/09/2007	  	
		 	 EXPIRY DATE:
	  	26/09/2011	  	
		 	 FILE NO:
	  	PL.2/155	  	

 SOLICITOR OF THE SUPREME COURT 
 GHANA 
 [SEAL]Amended and Restated 2005 Stock Incentive Plan

 Exhibit 10.3 
 AMENDED AND RESTATED 
 CHART INDUSTRIES, INC. 
 2005 STOCK INCENTIVE PLAN 
 This
Amended and Restated Chart Industries, Inc. 2005 Stock Incentive Plan, initially approved by the Board of Directors of Chart Industries, Inc. on November 23, 2005 and amended on March 23, 2006, was then amended and restated in its
entirety, and is now amended and restated as of December 15, 2008 for purposes of bringing the document into further compliance with Section 409 A of the Code, as follows: 
 1. Purpose of the Plan 
 The purpose of the Plan is to aid the Company and its Affiliates in
recruiting and retaining key employees, directors or consultants of outstanding ability and to motivate such employees, directors or consultants to exert their best efforts on behalf of the Company and its Affiliates by providing incentives through
the granting of Awards. The Company expects that it will benefit from the added interest which such key employees, directors or consultants will have in the welfare of the Company as a result of their proprietary interest in the Company’s
success. 
 2. Definitions 
 The following
capitalized terms used in the Plan have the respective meanings set forth in this Section: 
  

	 	(a)	Act: The Securities Exchange Act of 1934, as amended, or any successor thereto. 

  

	 	(b)	Affiliate: With respect to any entity, any entity directly or indirectly controlling, controlled by, or under common control with, such entity. 

  

	 	(c)	Award: An Option, Stock Appreciation Right or Other Stock-Based Award granted pursuant to the Plan. 

  

	 	(d)	Beneficial Owner: A “beneficial owner”, as such term is defined in Rule 13d-3 under the Act (or any successor rule thereto). 

  

	 	(e)	Board: The Board of Directors of the Company. 

  

	 	(f)	 Change in Control: Unless the Committee specifies otherwise in an Award agreement, the occurrence of any of the following events: (i) the sale or
disposition, in one or a series of related transactions, of all or substantially all, of the assets of the Company to any Person or “group” (as such term is defined in Sections 13(d)(3) or 14(d)(2) of the Act) other than the Permitted
Holders; (ii) any Person or group, other than the Permitted Holders, is or becomes the Beneficial Owner (except that a person shall be deemed to have “beneficial ownership” of all shares that any such Person has the right to acquire,
whether such right is exercisable immediately or only after the passage of time), directly or indirectly, 

	 	 
of more than 50% of the total voting power of the voting stock of the Company (or any entity which controls the Company or which is a successor to all or
substantially all of the assets of the Company), including by way of merger, consolidation, tender or exchange offer or otherwise; or (iii) during any period of two (2) consecutive years, individuals who at the beginning of such period
constituted the Board (together with any new directors whose election by such Board or whose nomination for election by the stockholders of the Company was approved by a vote of a majority of the directors of the Company, then still in office, who
were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board, then in office. 

  

	 	(g)	Code: The Internal Revenue Code of 1986, as amended, or any successor thereto. 

  

	 	(h)	Committee: The Board or any person or persons designated by the Board to administer the Plan. 

  

	 	(i)	Company: Chart Industries, Inc., a Delaware corporation. 

  

	 	(j)	Disability: Inability of a Participant to perform in all material respects his duties and responsibilities to the Company, or any Subsidiary of the Company, by reason of a
physical or mental disability or infirmity which inability is reasonably expected to be permanent and has continued for a period of six consecutive months or for an aggregate of nine (9) months in any twenty-four (24) consecutive month
period. Any question as to the existence of the Disability of a Participant as to which the Participant and the Company cannot agree shall be determined in writing by a qualified independent physician mutually acceptable to the Participant and the
Company. If the Participant and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination in writing. The determination of
Disability made in writing to the Company and the Participant shall be final and conclusive for all purposes of the Plan and any Award agreement. 

  

	 	(k)	Employment: The term “Employment” as used herein shall be deemed to refer to (i) a Participant’s employment if the Participant is an employee of the
Company or any of its Affiliates, (ii) a Participant’s services as a consultant, if the Participant is a consultant to the Company or its Affiliates and (iii) a Participant’s services as a non-employee director, if the
Participant is a non-employee member of the Board; provided that, for any Award that is or becomes subject to Section 409A of the Code, termination of Employment means a “separation from service” under Section 409A of the
Code. 

  

	 	(1)	 Fair Market Value: On a given date, (i) if there is a public market for the Shares on such date, the arithmetic mean of the high and low prices of the
Shares as reported on such date on the Composite Tape of the principal national securities exchange on which such Shares are listed or admitted to trading, or, if the Shares 

  

 2 

	 	 
are not listed or admitted on any national securities exchange, the arithmetic mean of the per Share closing bid price and the per Share closing asked price
on such date as quoted on the National Association of Securities Dealers Automated Quotation System (or such market in which such prices are regularly quoted) (the “NASDAQ”), or if no sale of Shares shall have been reported on the
Composite Tape of any national securities exchange or quoted on NASDAQ on such date, then the immediately preceding date on which sales of the Shares have been so reported or quoted shall be used, and (ii) if there is no public market for the
Shares on such date, the Fair Market Value shall be the fair market value of the Shares as determined in good faith by the Board assuming a hypothetical liquidation of the Company or the sale of the Company to a third party; provided that if
the Participant disagrees with the Board’s determination, he may require the Company to retain an independent investment banker to determine the fair market value. The Company will bear the cost of such appraisal, unless the appraised value is
110% or less of the Board’s determination of the fair market value, in which case the Participant will bear the cost of such appraisal. 

  

	 	(m)	Other Stock-Based Awards: Awards granted pursuant to Section 8 of the Plan. 

  

	 	(n)	Option: A stock option granted pursuant to Section 6 of the Plan. 

  

	 	(o)	Option Price: The purchase price per Share of an Option, as determined pursuant to Section 6(a) of the Plan. 

  

	 	(p)	Participant: An employee, director or consultant of the Company or its Affiliates who is selected by the Committee to participate in the Plan; provided however that, if the
Shares issuable under this Plan are registered under the Securities Act of 1933, as amended on a Registration Statement on Form S-8 (or any successor form), then consultants may be Participants only to the extent Shares issuable hereunder may be
registered on Form S-8 (or any successor form). 

  

	 	(q)	Permitted Holder: As of the date of determination, any and all of (i) an employee benefit plan (or trust forming a part thereof) maintained by (A) the Company or
its Affiliates or (B) any corporation or other Person of which a majority of its voting power of its voting equity securities or equity interest is owned, directly or indirectly, by the Company and (ii) First Reserve Fund X, L.P. or any of
its Affiliates. 

  

	 	(r)	Person: A “person”, as such term is used for purposes of Section 13(d) or 14(d) of the Act (or any successor section thereto). 

  

	 	(s)	Plan: The Amended and Restated Chart Industries, Inc. 2005 Stock Incentive Plan. 

  

	 	(t)	Shares: Shares of common stock of the Company. 

  

	 	(u)	Stock Appreciation Right: A stock appreciation right granted pursuant to Section 7 of the Plan. 

  

 3 

	 	(v)	Subsidiary: A subsidiary corporation, as defined in Section 424(f) of the Code (or any successor section thereto). 

 3. Shares Subject to the Plan 
 The total number of
Shares which may be issued under the Plan is 3,421,030. The Shares may consist, in whole or in part, of unissued Shares or treasury Shares. The issuance of Shares or the payment of cash upon the exercise of an Award or in consideration of the
cancellation or termination of an Award shall reduce the total number of Shares available under the Plan, as applicable. Shares which are subject to Awards or portions of Awards which terminate or lapse without issuance of Shares may be granted
again under the Plan. 
 4. Administration 
 The Plan shall be administered by the Committee, which may delegate its duties and powers in whole or in part to any subcommittee thereof. Awards may, in the discretion of the Committee, be made under the Plan in assumption of, or in
substitution for, outstanding awards previously granted by the Company or its Affiliates or a company acquired by the Company or with which the Company combines. The number of Shares underlying such substitute awards shall be counted against the
aggregate number of Shares available for Awards under the Plan. Subject to Section 15 of the Plan, the Committee is authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make
any other determinations that it deems necessary or desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee
deems necessary or desirable. Any decision of the Committee in the interpretation and administration of the Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties
concerned (including, but not limited to, Participants and their beneficiaries or successors). The Committee shall have the full power and authority to establish the terms and conditions of any Award consistent with the provisions of the Plan and to
waive any such terms and conditions at any time (including, without limitation, accelerating or waiving any vesting conditions). The Committee shall require payment of any amount it may determine to be necessary to withhold for federal, state, local
or other taxes as a result of the exercise, grant or vesting of an Award and the Company or its Affiliates shall have the right and is authorized to withhold any applicable withholding taxes in respect to the Award, its exercise or any payment or
transfer under or with respect to the Award and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. Unless the Committee specifies otherwise, the
Participant may elect to pay a portion or all of such withholding taxes by (a) delivery in Shares, provided that such shares have been held by the Participant for more than six (6) months (or such other period as established by the
Committee from time to time in order to avoid adverse accounting treatment applying generally accepted accounting principles) or (b) with respect to minimum withholding amounts only, having Shares with a Fair Market Value equal to the amount
withheld by the Company from any Shares that would have otherwise been received by the Participant. 
  

 4 

 5. Limitations 
  

	 	(a)	No Award may be granted under the Plan after the tenth anniversary of the effective date of the Plan, but Awards theretofore granted may extend beyond that date.

  

	 	(b)	Subject to Section 9, neither the Option Price of an Option nor the exercise price of a Stock Appreciation Right may be reduced after the date of grant.

 6. Terms and Conditions of Options 
 Options granted under the Plan shall be non-qualified stock options for federal income tax purposes which are not intended to be treated as options that comply with Section 422 of the Code, as evidenced by the
related Award agreements, and shall be subject to the foregoing and the following terms and conditions and to such other terms and conditions, not inconsistent therewith, as the Committee shall determine: 
  

	 	(a)	Option Price. Subject to Section 4, the Option Price per Share shall be equal to the Fair Market Value on the applicable date of grant. 

  

	 	(b)	Exercisability. Options granted under the Plan shall be exercisable at such time and upon such terms and conditions as may be determined by the Committee, but in no event
shall an Option be exercisable more than ten years after the date it is granted. 

  

	 	(c)	 Exercise of Options. Except as otherwise provided in the Plan or in an Award agreement, an Option may be exercised for all, or from time to time any part, of
the Shares for which it is then exercisable. For purposes of Section 6 of the Plan, the exercise date of an Option shall be the later of the date a notice of exercise is received by the Company and, if applicable, the date payment is received
by the Company pursuant to clauses (i), (ii), (iii) or (iv) in the following sentence. The purchase price for the Shares as to which an Option is exercised shall be paid to the Company in full at the time of exercise at the election of the
Participant (i) in cash or its equivalent (e.g., by check), (ii) to the extent permitted by the Committee, in Shares having a Fair Market Value equal to the aggregate Option Price for the Shares being purchased and satisfying such other
requirements as may be imposed by the Committee; provided, that such Shares have been held by the Participant for more than six months (or such other period as established from time to time by the Committee in order to avoid adverse accounting
treatment applying generally accepted accounting principles), (iii) partly in cash and, to the extent permitted by the Committee, partly in such Shares, (iv) if there is a public market for the Shares at such time, to the extent permitted
by, and subject to such rules as may be established by the Committee, through the delivery of irrevocable instructions to a broker to sell Shares obtained upon the exercise of the Option and to deliver promptly to the Company an amount out of the
proceeds of such sale equal to the aggregate Option Price for the Shares being purchased, or (v) through such cashless exercise procedures (including surrender of a portion of the 

  

 5 

	 	 
Option in payment of the Option Price) as the Committee may permit. Except with respect to an adjustment pursuant to Section 9 of the Plan, no
Participant shall have any rights to dividends or other rights of a stockholder with respect to Shares subject to an Option until the Participant has given written notice of exercise of the Option, paid in full for such Shares and, if applicable,
has satisfied any other conditions imposed by the Committee pursuant to the Plan. 

  

	 	(d)	Attestation. Wherever in this Plan or any agreement evidencing an Award a Participant is permitted to pay the Option Price of an Option or taxes relating to the exercise of
an Option by delivering Shares, the Participant may, subject to procedures satisfactory to the Committee, satisfy such delivery requirement by presenting proof of beneficial ownership of such Shares, in which case the Company shall treat the Option
as exercised without further payment and shall withhold such number of Shares from the Shares acquired by the exercise of the Option. 

 7.
Terms and Conditions of Stock Appreciation Rights 
  

	 	(a)	Grants. The Committee also may grant (i) a Stock Appreciation Right independent of an Option or (ii) a Stock Appreciation Right in connection with an Option, or a
portion thereof. A Stock Appreciation Right granted pursuant to clause (ii) of the preceding sentence (A) must be granted at the time the related Option is granted, (B) shall cover the same number of Shares covered by an Option (or
such lesser number of Shares as the Committee may determine) and (C) shall be subject to the same terms and conditions as such Option except for such additional limitations as are contemplated by this Section 7 (or such additional
limitations as may be included in an Award agreement). 

  

	 	(b)	 Terms. The exercise price per Share of a Stock Appreciation Right shall be an amount determined by the Committee but in no event shall such amount be less
than the greater of (i) the Fair Market Value of a Share on the date the Stock Appreciation Right is granted or, in the case of a Stock Appreciation Right granted in conjunction with an Option, or a portion thereof, the Option Price of the
related Option and (ii) the minimum amount permitted by applicable laws, rules, by-laws or policies of regulatory authorities or stock exchanges. Each Stock Appreciation Right granted independent of an Option shall entitle a Participant upon
exercise to an amount equal to (i) the excess of (A) the Fair Market Value on the exercise date of one Share over (B) the exercise price per Share, times (ii) the number of Shares covered by the Stock Appreciation Right. Each
Stock Appreciation Right granted in conjunction with an Option, or a portion thereof, shall entitle a Participant to surrender to the Company the unexercised Option, or any portion thereof, and to receive from the Company in exchange therefor an
amount equal to (i) the excess of (A) the Fair Market Value on the exercise date of one Share over (B) the Option Price per Share, times (ii) the number of Shares covered by the Option, or portion thereof, which is surrendered.
The date a notice of exercise is received by the Company shall be the exercise date. Payment to the Participant shall be made in Shares or in cash, or partly in Shares and partly in 

  

 6 

	 	 
cash (any such Shares valued at such Fair Market Value), all as shall be determined by the Committee. Stock Appreciation Rights may be exercised from time to
time upon actual receipt by the Company of written notice of exercise stating the number of Shares with respect to which the Stock Appreciation Right is being exercised. No fractional Shares will be issued in payment for Stock Appreciation Rights,
but instead cash will be paid for a fraction or, if the Committee should so determine, the number of Shares will be rounded downward to the next whole Share. 

  

	 	(c)	Limitations. The Committee may impose, in its discretion, such conditions upon the exercisability or transferability of Stock Appreciation Rights as it may deem fit.

 8. Other Stock-Based Awards 
  

	 	(a)	Generally. The Committee, in its sole discretion, may grant or sell Awards of Shares, Awards of restricted Shares and Awards that are valued in whole or in part by reference
to, or are otherwise based on the Fair Market Value of, Shares (“Other Stock-Based Awards”). Such Other Stock-Based Awards shall be in such form, and dependent on such conditions, as the Committee shall determine, including, without
limitation, the right to receive, or vest with respect to, one or more Shares (or the equivalent cash value of such Shares) upon the completion of a specified period of service, the occurrence of an event and/or the attainment of performance
objectives. Other Stock-Based Awards may be granted alone or in addition to any other Awards granted under the Plan. Subject to the provisions of the Plan, the Committee shall determine to whom and when Other Stock-Based Awards will be made; the
number of Shares to be awarded under (or otherwise related to) such Other Stock-Based Awards; whether such Other Stock-Based Awards shall be settled in cash, Shares or a combination of cash and Shares; and all other terms and conditions of such
Awards (including, without limitation, the vesting provisions thereof and provisions ensuring that all Shares so awarded and issued shall be fully paid and non-assessable). 

 9. Adjustments Upon Certain Events 
 Notwithstanding any other provisions in the Plan to the contrary,
the following provisions shall apply to all Awards granted under the Plan: 
  

	 	(a)	 Generally. In the event of any change in the outstanding Shares after the effective date of the Plan by reason of any Share dividend or split,
reorganization, recapitalization, merger, consolidation, spin-off, combination, combination or transaction or exchange of Shares or other corporate exchange, or any distribution to shareholders other than regular cash dividends or any transaction
similar to the foregoing, the Committee shall make such substitution or adjustment, if any, as it deems to be equitable, as to (i) the number or kind of Shares or other securities issued or reserved for issuance pursuant to the Plan or pursuant
to outstanding Awards, (ii) the Option Price or exercise price of any Award and/or (iii) any other 

  

 7 

	 	 
affected terms of such Awards. However, any such adjustment to an Option or Stock Appreciation Right shall be made pursuant to applicable provisions of the
Code, including Section 409A of the Code. 

  

	 	(b)	Change in Control. In the event of a Change in Control after the effective date of the Plan, (i) if determined by the Committee in the applicable Award agreement or
otherwise, any outstanding Awards then held by Participants which are unexercisable or otherwise unvested or subject to lapse restrictions may automatically be deemed exercisable or otherwise vested or no longer subject to lapse restrictions, as the
case may be, as of immediately prior to such Change in Control and (ii) to the extent it would not trigger adverse taxation under Section 409A of the Code, the Committee may, but shall not be obligated to, (A) cancel such Awards for
fair value, which, in the case of Options and Stock Appreciation Rights, shall equal the excess, if any, of the value of the consideration to be paid in the Change in Control transaction to holders of the same number of Shares subject to such
Options or Stock Appreciation Rights (or, if no consideration is paid in any such transaction, the Fair Market Value of the Shares subject to such Options or Stock Appreciation Rights as of the date of the Change in Control) over the aggregate
Option Price or exercise price of such Options or Stock Appreciation Rights or (B) provide for the issuance of substitute Awards that will substantially preserve the otherwise applicable terms and value of any affected Awards previously granted
hereunder as determined by the Committee or (C) provide that for a period of at least 15 days prior to the Change in Control, such Awards shall be exercisable, to the extent applicable, as to all Shares subject thereto and the Committee may
further provide that upon the occurrence of the Change in Control, such Awards shall terminate and be of no further force and effect. 

 10.
No Right to Employment or Awards 
 The granting of an Award under the Plan shall impose no obligation on the Company or any Affiliate to
continue the Employment of a Participant and shall not lessen or affect the Company’s or Affiliate’s right to terminate the Employment of such Participant. No Participant or other Person shall have any claim to be granted any Award, and
there is no obligation for uniformity of treatment of Participants, or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with
respect to each Participant (whether or not such Participants are similarly situated). 
 11. Certificates 
 All certificates, if any, evidencing Shares or other securities of the Company delivered under the Plan pursuant to any Award or the exercise thereof
shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission or other applicable governmental
authority, any stock exchange or market upon which such securities are then listed, admitted or quoted, as applicable, and any applicable Federal, state or any other 

  

 8 

 
applicable laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions.

 12. Other Laws 
 The Committee may
refuse to issue or transfer any Shares or other consideration under an Award if, acting in its sole discretion, it determines that the issuance or transfer of such Shares or such other consideration might violate any applicable law or regulation and
any payment tendered to the Company by a Participant, other holder or beneficiary in connection with the exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary; provided, however, that, with
respect to any Award that is or becomes subject to Section 409A of the Code, a payment may only be delayed where the Company or any Affiliate reasonably anticipates that the making of the payment will violate Federal securities laws or other
applicable law and provided that the payment is made at the earliest date at which the Company or Affiliate reasonably anticipates that the making of the payment will not cause such violation. Without limiting the generality of the foregoing, no
Award granted hereunder shall be construed as an offer to sell securities of the Company, and no such offer shall be outstanding, unless and until the Committee in its sole discretion has determined that any such offer, if made, would be in
compliance with all applicable requirements of applicable securities laws, including, without limitation, laws of the United States (and any state thereof), Germany, the United Kingdom, the Czech Republic or the People’s Republic of China.

 13. Successors and Assigns 
 The Plan
shall be binding on all successors and assigns of the Company and a Participant, including without limitation, the estate of such Participant and the executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or
representative of the Participant’s creditors. 
 14. Nontransferability of Awards 
 Unless otherwise determined by the Committee, an Award shall not be transferable or assignable by the Participant otherwise than by will or by the laws of
descent and distribution. An Award exercisable after the death of a Participant may be exercised by the legatees, personal representatives or distributees of the Participant. 
 15. Amendments or Termination 
 The Board may amend, alter or discontinue the Plan, but no amendment,
alteration or discontinuation shall be made, (a) without the approval of the shareholders of the Company, if such action would (except as is provided in Section 9 of the Plan), increase the total number of Shares reserved for the purposes
of the Plan or (b) without the consent of a Participant, if such action would diminish any of the rights of the Participant under any Award theretofore granted to such Participant under the Plan; provided, however, that the Committee may amend
the Plan in such manner as it deems necessary to permit the granting of Awards meeting the requirements of the Code or other applicable laws. 
  

 9 

 Without limiting the generality of the foregoing, to the extent applicable, notwithstanding anything
herein to the contrary, this Plan and Awards issued hereunder shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretative guidance issued thereunder, including without
limitation any such regulations or other guidance that may be issued after the effective date of the Plan. Notwithstanding any provision of the Plan to the contrary, in the event that the Committee determines that any amounts payable hereunder will
be taxable to a Participant under Section 409A of the Code and related Department of Treasury guidance prior to payment to such Participant of such amount, the Company may (a) adopt such amendments to the Plan and Awards and appropriate
policies and procedures, including amendments and policies with retroactive effect, that the Committee determines necessary or appropriate to preserve the intended tax treatment of the benefits provided by the Plan and Awards hereunder and/or
(b) take such other actions as the Committee determines necessary or appropriate to comply with the requirements of Section 409A of the Code. 
 16. International Participants 
 With respect to Participants who reside or work outside the United States of America, the
Committee may, in its sole discretion, amend the terms of the Plan or Awards with respect to such Participants in order to conform such terms with the requirements of local law. 
 17. Choice of Law 
 The Plan shall be governed by and construed in accordance with the laws of the
State of Delaware without regard to conflicts of laws. 
 18. Effectiveness of the Plan 
 The effective date of this Plan was November 23, 2005; the effective date of this amendment and restatement of the Plan is December 15, 2008.

  

 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00153-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00153-of-00352.parquet"}]]