Document:

ex_192571.htm

Exhibit 10.2

 

 

HYCROFT MINING HOLDING CORPORATION

RESTRICTED STOCK UNIT AGREEMENT

(TIME-VESTING)

 

THIS AGREEMENT (the “Agreement”) is made and entered into as of this 1st day of July, 2020, by and between Hycroft Mining Holding Corporation, a Delaware corporation (the “Corporation”), and Randy Buffington (the “Participant”), pursuant to the HYMC 2020 Performance and Incentive Pay Plan (the “Plan”). This Agreement and the award contained herein are subject to the terms and conditions set forth in the Plan, which are incorporated by reference herein, and the following terms and conditions. Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Plan.

 

WITNESSETH:

 

WHEREAS, the Participant has agreed to resign as the Chairman of the Board, President and Chief Executive Officer of the Corporation;

 

WHEREAS, the Participant has entered into that certain Transition and Succession Agreement with the Corporation as of date hereof (the “Transition and Succession Agreement”), which Transition and Succession Agreement will become effective upon expiration of statutory revocation periods set forth therein;

 

WHEREAS, the Corporation has adopted the Plan in order to promote the interests of the Corporation, its Affiliated Entities and its stockholders by using stock-based and cash-based incentives to attract, retain and motivate its management and other persons to encourage and reward such persons contributing to the performance of the Corporation and to align their interests with the interests of the Corporation’s stockholders; and

 

WHEREAS, the Compensation Committee of the Board (the “Committee”) of the Board of Directors of the Corporation (the “Board”) has determined that it is in the best interests of the Corporation to grant Restricted Stock Units (as defined herein) under the Plan to the Participant on the terms and conditions set forth below in recognition of Participant’s successful efforts in developing a new process to economically and profitably recover gold from sulfide ores in a heap leach process and restarting mining operations at the Hycroft Mine and to reward and compensate Participant for transition assistance.

 

NOW, THEREFORE, in consideration of the various covenants and agreements herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

1.        Award of Restricted Stock Units. In consideration for the continued service of the Participant to the Corporation and its Subsidiaries and Affiliated Entities, and as part of the Plan, effective upon the date of the expiration without revocation of the statutory revocation periods set forth in the Transition and Succession Agreement (the “Grant Date”), the Corporation hereby awards to the Participant, subject to the further terms and conditions set forth in this Agreement, restricted stock units (the “Restricted Stock Units” or “RSUs”), with a value of $1,300,000 as of the Grant Date (the “Grant Date Value”).

 

 

 

 

2.        No Rights of Stockholder. Until converted as described in Section 6 hereof, the Restricted Stock Units represent the Corporation’s unfunded and unsecured promise to issue shares of Common Stock at a future date, subject to the terms of this Agreement. The Participant has no rights with respect to the Restricted Stock Units other than rights of a general creditor of the Corporation. Except as set forth in Section 3 hereof, the Participant shall not have any of the rights of a stockholder with respect to unvested Restricted Stock Units.

 

3.        Dividend Equivalents. Subject to the provisions of Section 5 hereof, in the event that the Corporation declares a dividend on its Common Stock, the Corporation will increase the number of Restricted Stock Units hereunder (i.e., by increasing the award) by the number of units, rounded to the nearest whole number, equal to the result of dividing (a) the per share cash dividend paid by the Corporation on its shares of Common Stock multiplied by the number of unvested Restricted Stock Units awarded to Participant under this Agreement as of the related dividend payment record date by (b) the fair market value of one share of Common Stock on the related dividend payment record date.   Any such additional Restricted Stock Units shall be subject to the same vesting, forfeiture, payment, termination and other terms, conditions and restrictions as the original Restricted Stock Units to which they relate. No additional Restricted Stock Units shall be granted with respect to any Restricted Stock Units which, as of the dividend payment record date, have either vested or been terminated.

 

4.        Restrictions on Transfer. Except as otherwise provided in this Agreement, the Participant may not sell, transfer, assign, pledge, encumber or otherwise dispose of any of the Restricted Stock Units or the rights granted hereunder (any such disposition or encumbrance being referred to herein as a “Transfer”). Until converted as described in Section 6 hereof, any Transfer or purported Transfer by the Participant of any of the Restricted Stock Units shall be null and void and the Corporation shall not recognize or give effect to such Transfer on its books and records or recognize the person to whom such purported Transfer has been made as the legal or beneficial holder of such Restricted Stock Units. The Restricted Stock Units shall not be subject to sale, execution, pledge, attachment, encumbrance or other process prior to vesting and no person shall be entitled to exercise any rights of the Participant as the holder of such Restricted Stock Units by virtue of any attempted execution, attachment or other process until the Restricted Stock Units are converted as provided in Section 6 hereof.

 

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5.        Vesting of Restricted Stock Units.

 

(a)     Subject to any forfeiture provisions in this Agreement or in the Plan, and subject to the terms of this Section 5 hereof, the Restricted Stock Units shall vest over a two year period in accordance with the following schedule, provided that the Participant continues to comply with his obligations under that certain Employee Nondisclosure, Noncompetition, Nonsolicitation and Inventions Agreement (the “ENNNI Agreement”), assigned to and assumed by the Company, and the Transition and Succession Agreement, prior to the applicable vesting date:

 

	
			Vesting Date

				
			Cumulative Vested Percentage of the RSUs

			
	
			1st Anniversary of Grant Date

			 

				
			50% of the RSUs

			
	
			2nd Anniversary of Grant Date

			 

				
			100% of the RSUs

			

 

(b)     If the application of the vesting schedule in Section 5(a) would yield a fractional Restricted Stock Unit, such fractional Restricted Stock Unit shall be rounded down to the next whole unit if it is less than 0.5 and rounded up to the next whole unit if it is 0.5 or more.

 

(c)     Notwithstanding anything to the contrary in this Section 5, in the event of a Change in Control in which the resulting entity does not assume, continue, convert or replace this Agreement, the Restricted Stock Units shall be fully vested and converted into an equivalent number of shares of Common Stock immediately prior to the Change in Control, the Restricted Stock Units shall be fully vested and converted into shares as described in Section 6 and Section 7 hereof. For purposes of this Agreement, the Restricted Stock Units awarded hereunder will not be considered to be assumed, continued, converted or replaced by the resulting entity in connection with the Change in Control unless the Restricted Stock Units are adjusted to prevent dilution of the Participant’s rights hereunder as a result of the Change in Control.

 

6.       Conversion of Restricted Stock Units into Common Stock upon Vesting. On the Conversion Date (as defined below), the Restricted Stock Units that vested pursuant to the terms of Section 5 hereof, if any, shall be converted into the number of shares of Common Stock equal to the Grant Date Value divided by the fair market value of a share of Common Stock, which shares of Common Stock will be issued to the Participant, or in the event of the Participant’s death, the Participant’s beneficiary pursuant to the Plan. Promptly after the Conversion Date (as defined below), certificates of such shares of Common Stock shall be delivered to the Participant. Except as provided in Section 11(b), the “Conversion Date” shall be the applicable vesting date. For purposes of this Section 6(a), the fair market value shall mean the closing price of a share of Common Stock on a national securities exchange on which such shares of Common Stock may be listed for trading or as determined by the Committee on a vesting date.

 

7.       Adjustment Provisions. If, during the term of this Agreement, there shall be any merger, reorganization, consolidation, recapitalization, stock dividend, special cash dividend, stock split, reverse stock split, rights offering or extraordinary distribution with respect to the Common Stock, or other change in corporate structure affecting the Common Stock, the Committee shall make or cause to be made an appropriate and equitable substitution, adjustment or treatment with respect to the Restricted Stock Units in a manner consistent with Section 4.3 of the Plan, including a substitution or adjustment in the aggregate number or kind of shares subject to this Agreement, notwithstanding that the Restricted Stock Units are subject to the restrictions on transfer imposed by Section 4 above.  Any securities, awards or rights issued pursuant to this Section 7 shall be subject to the same restrictions as the underlying Restricted Stock Units to which they relate.

 

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8.       Tax Withholding. As a condition precedent to the receipt of any Restricted Stock Units hereunder, the Participant agrees to pay to the Corporation, at such times as the Corporation shall determine, such amounts as the Corporation shall deem necessary to satisfy any withholding taxes due on income that the Participant recognizes pursuant to this Award. The obligations of the Corporation under this Agreement and the Plan shall be conditional on such payment or arrangements, and the Corporation and its Subsidiaries and Affiliated Entities shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise due to the Participant. In addition, the Participant may elect, unless otherwise determined by the Committee, to satisfy the withholding requirement by having the Corporation withhold shares of Common Stock with a Fair Market Value, as of the date of such withholding, sufficient to satisfy the withholding obligation.

 

9.       Registration. This grant is subject to the condition that if at any time the Board or Committee shall determine, in its discretion, that the listing of the shares of Common Stock subject hereto on any securities exchange, or the registration or qualification of such shares under any federal or state law, or the consent or approval of any regulatory body, shall be necessary or desirable as a condition of, or in connection with, the grant, receipt or delivery of shares hereunder, such grant, receipt or delivery will not be effected unless and until such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Board or Committee. The Corporation agrees to make every reasonable effort to effect or obtain any such listing, registration, qualification, consent or approval.

 

10.      No Right to Continued Employment or Engagement. In no event shall the granting of the Restricted Stock Units or the other provisions hereof or the acceptance of the Restricted Stock Units by the Participant confer upon the Participant any right to employment by the Corporation, a Subsidiary of the Corporation or an Affiliated Entity for any period of time or to continue his present or any other rate of compensation.

 

11.      Section 409A Compliance.

 

(a)     The intent of the parties is that payments and benefits under this Agreement be excluded from the scope of, or comply with, Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted as such. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Participant and the Corporation of the applicable provision without violating the provisions of Code Section 409A.

 

(b)     [reserved]

 

(c)     For purposes of Code Section 409A, the Participant’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Corporation.

 

(d)     Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless otherwise permitted by Code Section 409A.

 

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12.      Miscellaneous.

 

(a)     Assignment; Successors. This Agreement will be binding upon and inure to the benefit of the heirs and representatives of the Participant and the assigns and successors of the Corporation, but neither this Agreement nor any rights hereunder will be assignable or otherwise subject to hypothecation by the Participant (except by will or by operation of the laws of intestate succession) or by the Corporation, except that the Corporation may assign this Agreement to any successor (whether by merger, purchase or otherwise) to all or substantially all of the stock, assets or businesses of the Corporation.

 

(b)     Governing Law and Forum for Disputes. The laws of the State of Colorado will govern the validity, interpretation, construction and performance of this Agreement, without regard to the conflict of laws principles thereof. Any action or proceeding against the parties relating in any way to this Agreement (a “Dispute”) must be brought and enforced in the courts of the State of Colorado, and the parties irrevocably (i) submit to the jurisdiction of such courts in respect of any such action or proceeding and (ii) waive any right to a trial by jury of any Dispute.

 

(c)     Modification or Amendment. No failure or delay by the Corporation or the Participant in enforcing or exercising any right or remedy hereunder will operate as a waiver thereof. No provisions of this Agreement may be modified, waived, or discharged except by a written document signed by an officer or director of the Corporation duly authorized by the Board and the Participant.

 

(d)     Notices. Notices given pursuant to this Agreement will be in writing and will be deemed received when personally delivered, or on the date of written confirmation of receipt by (i) overnight carrier, (ii) facsimile with confirmation of delivery or by email, (iii) registered or certified mail, return receipt requested, addressee only, postage prepaid, or (iv) such other method of delivery, including electronic transmission, that provides a written confirmation of delivery. Notice to the Corporation will be directed to:

 

Hycroft Mining Holding Corporation

c/o Stephen M. Jones

Executive Vice President and Chief Financial Officer

8181 E. Tufts, Suite 510

Denver, CO 80237

email: Steve.Jones@hycroftmining.com

 

with a copy to:

 

Neal, Gerber & Eisenberg, LLP

2 N. LaSalle Street, Suite 1700

Chicago, IL 60602

Attention: David S. Stone, Esq.

email: dstone@nge.com

 

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The Corporation may change the person and/or address to whom the Participant must give notice under this Section 12(d) by giving the Participant written notice of such change, in accordance with the procedures described above. Notices to or with respect to the Participant will be directed to the Participant, or to the Participant’s executors, personal representatives or distributees, if the Participant is deceased, at the Participant’s home address on the records of the Corporation, or such other address provided to the Corporation in accordance with the procedures described above.

 

(e)     Severability. If any provisions of this Agreement will be found invalid or unenforceable by a court of competent jurisdiction, in whole or in part, then it is the parties’ mutual desire that such court modify such provision(s) to the extent and in the manner necessary to render the same valid and enforceable, and this Agreement will be construed and enforced to the maximum extent permitted by law, as if such provision(s) had been originally incorporated herein as so modified or restricted, or as if such provision(s) had not been originally incorporated herein, as the case may be.

 

(f)     Entire Agreement. The Participant acknowledges receipt of this Agreement and agrees that with respect to the Restricted Stock Units (Time-Vesting), together with the obligations of Participant under the Transition and Succession Agreement, the Consulting Agreement and the ENNNI Agreement, it contains the entire understanding and agreement with the Corporation, superseding any previous oral or written communication, representation, understanding or agreement with the Corporation or any representative thereof. No term or condition should be construed strictly against any party on the basis that it was drafted by such party.

 

(g)     Headings. The headings in this Agreement are for convenience of reference only and will not limit or otherwise affect the meaning thereof.

 

(h)     Counterparts.  This Agreement may be executed in any number of counterparts, including by facsimile or PDF, each of which shall be deemed an original, and all of which shall constitute one and the same instrument.

 

[Signature page to follow]

 

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IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of the Grant Date.

 

 

	
			PARTICIPANT

				
			HYCROFT MINING HOLDING CORPORATION

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			_/s/ Randy E. Buffington___________________________________________ 

				
			 

				
			 

				
			 

			
	
			Randy Buffington

				
			By: 

				/s/ Stephen M. Jones	
			 

			
	
			 

				
			Name:

				
			Stephen M. Jones

				
			 

			
	
			 

				
			Its:

				
			Executive Vice President & CFO

				
			 

			

 

7ex_192572.htm

Exhibit 10.3

 

 

consulting agreement

 

This Consulting Agreement (this “Agreement”) is made and entered into as of this 1st day of July, 2020, by and among Hycroft Mining Holding Corporation, a Delaware corporation (“HYMC”), and Randy Buffington, an individual (“Consultant”).

 

WHEREAS, prior to the date hereof, Consultant was the Chairman, President and Chief Executive Officer of HYMC;

 

WHEREAS, Consultant and HYMC entered into that certain Transition and Succession Agreement, dated as of July 1, 2020, to provide certain benefits to Consultant and HYMC upon his resignation as an officer and director of HYMC and its subsidiaries (the “Transition and Succession Agreement”);

 

WHEREAS, Consultant’s employment with HYMC and its subsidiaries terminated as of his resignation effective July 1, 2020 pursuant to the terms of the Transition and Succession Agreement; and

 

WHEREAS, Consultant was instrumental in HYMC’s successful efforts in developing a new process to economically and profitably recover gold from sulfide ores in a heap leach process and restarting mining operations at the Hycroft Mine and HYMC desires to receive consulting services on a consulting basis in Consultant’s areas of expertise relating to the Hycroft Mine’s operations and to receive such other services as may reasonably be requested of Consultant by the Board of Directors or Chief Executive Officer of HYMC (collectively, the “Consulting Services”) effective upon expiration without revocation of the statutory revocation periods set forth in the Transition and Succession Agreement.

 

NOW, THEREFORE, in consideration of the premises and the representations and warranties, covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.       Engagement. Effective upon expiration without revocation of the statutory revocation periods set forth in the Transition and Succession Agreement, HYMC hereby engages Consultant to perform the Consulting Services during the Term (as defined in Section 2), and Consultant hereby accepts such engagement upon the terms and conditions set forth in this Agreement.

 

2.        Term. This Agreement shall commence as of the date of expiration without revocation of the statutory revocation periods set forth in the Transition and Succession Agreement and shall continue until the earliest to occur of:

 

(a)     that date that is 24 months from the date hereof; and

 

(b)     termination in accordance with Section 6 (the “Consulting Period”).

 

 

 

 

3.       Consulting Services. In order to facilitate the continued development and operation of the Hycroft Mine and the transition to your successor as President and Chief Executive Officer, you agree that for the Consulting Period you agree to provide consulting, technical advice and transition assistance upon the reasonable request of the Board of Directors or the Chief Executive Officer of HYMC; provided, however, that such transition assistance and advice shall be subject to your consent, which shall not be unreasonably withheld or delayed. In no event shall Consultant be required to provide more than 30 hours of Consulting Services during any weekly period or more than 100 hours of Consulting Services during any monthly period.

 

4.        Compensation. As compensation for the Consulting Services rendered by Consultant during the Term, HYMC shall pay to Consultant compensation at a rate of $25,000 per month regardless of whether any request for the provision of Consulting Services is made to you during each month of the Consulting Period.

 

5.        Payment Procedures. HYMC shall issue payments to Consultant on a monthly basis.

 

6.        Termination.

 

(a)     This Agreement may be terminated:

 

(i)     by mutual written agreement of HYMC and Consultant at any time; or

 

(ii)     by HYMC for Cause (as hereinafter defined).

 

(b)     In the event that this Agreement is terminated in accordance with its terms for any reason, HYMC shall have no further obligation to Consultant other than the payment for Consulting Services already rendered in accordance with Section 4.

 

(c)     Definition of Cause. For purposes of this Agreement, the term “Cause” shall mean (i) Consultant has been convicted of, or plead nolo contendere to, a felony or crime involving moral turpitude; (ii) Consultant has committed an act of personal dishonesty or fraud involving personal profit in connection with Consultant’s provision of the Consulting Services to HYMC; (iii) Consultant has committed a material breach of any material covenant, provision, term or condition set forth in or incorporated by reference into this Agreement, including, without limitation, the provisions contained in Section 7 of the Transition and Succession Agreement or in sections of the Employee Nondisclosure, Noncompetition, Nonsolicitation and Inventions Agreement entered into by you (the “ENNNI Agreement”) entitled “No Solicitation of Executives”, “No Solicitation or Acceptance of Business from Customers or Business Partners”, and “Non-Competition”, and the applicable provisions thereunder, (iv) Consultant has committed an act which involved willful misconduct or gross negligence on the part of Consultant; (v) any material failure or unreasonable refusal to perform the Consulting Services in a reasonably satisfactory manner; (vi) any material failure or refusal to comply with the lawful written rules and policies of HYMC and its subsidiaries applicable to consultants to HYMC; or (vii) Consultant has committed any act that has or reasonably is expected to result in material injury to the business or reputation of HYMC or its subsidiaries; provided, however, that no termination under clause (iii), (v) or (vi) above shall be effective unless Consultant shall have first received written notice describing in reasonable detail the basis for the termination and within fifteen (15) days following delivery of such notice, Consultant shall have failed to cure such alleged behavior constituting “cause”; provided, further, that this notice requirement prior to termination shall be applicable only if such behavior or breach is capable of being cured.

 

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7.       Continued Restrictive Covenants. Consultant hereby expressly acknowledges that the restrictive covenants of non-solicitation of employees and customers and confidentiality set forth in sections of the ENNNI Agreement entitled “No Solicitation of Executives”, “No Solicitation or Acceptance of Business from Customers or Business Partners”, and “Non-Competition”, and the applicable provisions thereunder, by which Consultant is bound during the Consulting Period shall remain in full force and effect until they expire, if at all, according to their terms. In the event Consultant breaches any of such covenants, HYMC’s obligations to make payments pursuant to the provisions of Section 4 hereof shall be of no further force and effect and shall immediately cease. The terms of this Section 7 shall survive the termination of this Agreement.

 

8.       Independent Contractor Status. Consultant’s relationship to HYMC and its subsidiaries hereunder is one of independent contractor, and nothing contained in this Agreement shall be construed to imply that Consultant is an agent or employee of HYMC or its subsidiaries for any purpose, including, without limitation, withholding for purposes of Social Security or income taxes, or entitlement to any insurance, retirement or other employee benefits offered by HYMC or its subsidiaries. This Agreement shall not create any partnership or joint venture between the parties hereto. Consultant shall not have the right, power or authority to create any obligation, express or implied, or to make any representation on behalf of HYMC or its subsidiaries, except as may be expressly authorized in writing from time to time by HYMC or its subsidiaries, and then only to the extent of such written authorization.

 

9.      Consultant Representations, Warranties and Covenants. Consultant hereby represents, warrants and covenants to HYMC and its subsidiaries as follows: (a) Consultant shall comply with all applicable laws, ordinances, codes and regulations in performing the Consulting Services under this Agreement and (b) Consultant has full authority to execute and deliver this Agreement and to provide the Consulting Services, and this Agreement does not and will not violate any other agreement to which Consultant is or becomes a party, nor any law, court order or decree to which Consultant is subject.

 

10.      Binding Effect; Assignment; Substitution.

 

(a)     This Agreement shall be binding upon and inure to the benefit of all of the parties hereto, their heirs, administrators, personal representatives, successors and assigns; provided, however, that Consultant may not assign (as a matter of law or otherwise) this Agreement without the prior, express written consent of HYMC. Any attempt to assign, transfer, pledge, hypothecate or otherwise dispose of this Agreement in violation of this Agreement shall be null and void.

 

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(b)     Consultant acknowledges that HYMC expects Consultant specifically to perform the Consulting Services. Consultant agrees that he may not substitute any other person or entity to perform any of his obligations under this Agreement.

 

11.     Amendments; Waiver. This Agreement may only be amended and any term hereof waived in a written agreement signed both by Consultant and by HYMC. No delay or omission by any party to this Agreement to exercise its rights under this Agreement shall impair any such right or power or shall be construed as a waiver or acquiescence of any default. If a written waiver occurs, no such written waiver in any particular instance or with respect to any particular term will be held or construed to constitute a waiver of any other or subsequent breach.

 

12.     Entire Agreement. This Agreement, together with the Transition and Succession Agreement, the ENNNI Agreement and a special discretionary equity award agreement, sets forth the entire understanding of the parties hereto with respect to the subject matter hereof and supersedes and cancels any prior agreements, arrangements, representations, warranties or communications (whether oral or written) between the parties hereto relating to the subject matter hereof.

 

13.     Governing Law and Forum for Disputes. The laws of the State of Colorado will govern the validity, interpretation, construction and performance of this Agreement, without regard to the conflict of laws principles thereof. Any action or proceeding against the parties relating in any way to this Agreement (a “Dispute”) must be brought and enforced in the courts of the State of Colorado, and the parties irrevocably (i) submit to the jurisdiction of such courts in respect of any such action or proceeding and (ii) waive any right to a trial by jury of any Dispute.

 

14.     No Presumption Against Drafter; Representation by Counsel. Each of the parties hereto has jointly participated in the negotiation and drafting of this Agreement. In the event there arises any ambiguity or question of intent or interpretation with respect to this Agreement, this Agreement shall be construed as if drafted collectively by the parties hereto and no presumptions or burdens of proof shall arise favoring any party by virtue of the authorship of any of the provisions of this Agreement. Each of the parties hereto acknowledges that he or it has had the opportunity to consult independent and experienced counsel of his or its own choice in connection with the negotiation and preparation of this Agreement and to seek advice as to the legal effect thereof. Each of the parties hereto represents that he or it has entered into this Agreement without coercion or undue influence.

 

15.     Interpretation. The headings in this Agreement are included solely for convenience and shall not affect the interpretation of this Agreement. Unless the context requires otherwise, any pronouns used in this Agreement shall include the corresponding singular, plural, masculine, feminine or neuter pronouns, as the case may be. Underscored references to Sections shall refer to those Sections of this Agreement. The use of the terms “including” or “include” shall in all cases herein mean “including, without limitation” or “include, without limitation,” respectively.

 

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16.     Notices. Any notice required or permitted under the terms of this Agreement shall be in writing and shall be delivered by personal delivery, via overnight carrier, via facsimile or email or via registered or certified mail, return receipt requested, first class postage prepaid. If notice is delivered by personal delivery or via overnight carrier, notice shall be deemed given on the date that actual delivery is made. If notice is delivered via facsimile, notice shall be deemed given on the date that the notice is transmitted and written confirmation of such transmission is obtained. If notice is delivered via mail, notice shall be deemed given on the earlier of (a) the actual day of delivery or (b) the third day after the date of mailing. All notices shall be addressed to the intended recipient as set forth below:

 

If to Consultant, to:

 

Randy Buffington

1250 Parkview Drive

Elko, NV 89891

Telephone Number: (775) 813-6249

Email: Steda947@yahoo.com

 

 

If to HYMC:

Hycroft Mining Holding Corporation

8181 E. Tufts Ave., Suite 510

Denver, CO 80237

Attn: Stephen M. Jones, Executive Vice President and CFO

Telephone Number: (303) 524-1947 (Office)

Email: steve.jones@hycroftmining.com

 

With a copy to:

 

David S. Stone, Esq.

Neal, Gerber & Eisenberg LLP

2 North LaSalle Street

Suite 1700

Chicago, IL 60602

Telephone Number: (312) 269-8411

Email: dstone@nge.com

 

 

or to such other address or to the attention of the person or persons as the recipient party has specified by proper prior written notice to the sending party. If more than one method for sending notice as set forth above is used, the earliest notice date established as set forth above shall control.

 

17.     Counterparts. This Agreement may be signed in multiple counterparts, each of which taken together will constitute one and the same agreement. This Agreement may be executed and delivered by facsimile or other electronic transmission and, if executed and delivered in such manner, shall be binding as though an executed original shall have been delivered by hand.

 

18.     Severability. If any term or provision of this Agreement is held by a court of competent jurisdiction to be invalid or unenforceable, then such term or provision will be limited to the extent necessary or stricken so as to make the provision valid and enforceable to the fullest extent permitted by law. Such limitation or striking will not affect any of the remaining provisions of this Agreement, which will continue in full force and effect as written.

 

[Remainder of Page Intentionally Left Blank; Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

 

 

 

	
			 

				
			 /s/ Randy E. Buffington

			
	
			 

				
			Randy Buffington

			
	
			 

				
			 

			
	
			 

				
			 

			
	
			 

				
			 

			
	 	HYCROFT MINING HOLDING CORPORATION
	 	 
	 	/s/ Stephen M. Jones
	 	Name: Stephen M. Jones
	 	Title: Executive Vice President and Chief Financial Officer  

 

 

 

 [Signature Page to Buffington Consulting Agreement]

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