Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT
(the “Agreement”), made as of the 9th
day of March, 2011 (the “Effective Date”) by and between GOLDEN STAR RESOURCES LTD. (the “Company”) and SAM COETZER (the “Employee”). 

WHEREAS, the Company wishes to have the benefit of the Employee’s services; and 

WHEREAS, the Employee wishes to be so employed by the Company. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, THE EMPLOYEE AND THE COMPANY
HERETO AGREE AS FOLLOWS: 
 1. Employment. 
 (a) The Company shall employ the Employee, and the Employee shall serve in the employ of the Company and render exclusive and full-time services to the Company on the terms and conditions set forth in
this Agreement. 
 (b) The Employee shall serve as Executive Vice President and Chief Operating Officer of the Company and shall
perform duties subject to the overall policies and directions of the Company’s President and Chief Executive Officer. 

(c) The Employee shall not serve as a director, general partner or manager of any other entity without the prior written consent of the
Board (the “Board”, which term also includes any committee of the Board when used herein). 
 (d) The
Employee’s principal place of business with respect to his services to the Company shall be Toronto, Canada, subject to the travel requirements set forth in Section 1(e). 

(e) The Employee acknowledges that he will be required to travel extensively and perform his duties in other locations, and the Employee
shall undertake such amount of travel away from his principal place of employment as may reasonably be necessary to carry out his duties and responsibilities hereunder. 
 2. Term of Employment. The Agreement shall become effective on the Effective Date. Unless the Employee’s employment is terminated as provided in Section 5, the term of the Employee’s
employment under this Agreement (the “Term”) shall be for one (1) year from the Effective Date. The Term shall be extended automatically for successive one-year periods on each successive anniversary of the Effective Date,
unless the Employee or the Company provides written notice to the other at least three (3) months prior to the anniversary of the Effective Date of his or its intention not to extend the Term, in which case Employee’s employment shall end
on the last day of the then-current Term. 

 If the Company notifies the Employee of its intent not to extend the Term, the Agreement and
the Employee’s employment shall be deemed to have been terminated without cause pursuant to Section 5(a)(ii) and the Employee shall be entitled to the payments and other benefits set forth in Section 5(a)(ii). 

3. Services. The Employee shall devote his entire business time, best efforts, skills and attention to the Company in
fulfilling his duties and responsibilities hereunder faithfully and diligently. The Employee shall assume and perform to the best of his abilities the responsibilities of Executive Vice President and Chief Operating Officer of the Company as well as
such other responsibilities as may be assigned to him during the Term by the President and Chief Executive Officer of the Company as are appropriate to the offices he holds. The Employee will engage in no other business or activity for compensation
except for the management of his personal investments and any business or activity with respect to which he has received the prior written consent of the Board.  
 4. Compensation and Benefits. The Employee shall be entitled to the following benefits: 
 (a) The Company shall pay to the Employee, and the Employee hereby accepts, a salary (the “Base Salary”) at the rate of US$450,000 per annum. The Employee’s salary may be increased
from time to time by the Board, in its sole discretion, during the term of the Agreement and, upon any increase, such increased salary shall then become the Base Salary. The Base Salary shall be payable in equal bi-monthly installments in arrears.

 The Employee shall be entitled to participate in the Company’s Third Amended and Restated 1997 Stock Option Plan and in any successor
option plan (the “Option Plan”). Subject to the approval of the Board, the initial number of options to be granted on the Effective Date pursuant to the Option Plan shall be 400,000 and shall vest pursuant to the applicable award
agreement. The value of each option shall be determined using a Black Scholes valuation. 
 (b) The Employee shall be entitled
to participate in the Company’s Executive Management Performance Bonus Plan and in any successor bonus plan. The Employee’s target bonus rate shall be 50% of annual base salary and will be based on the achievement of a combination of
personal key performance indicator objectives and corporate key performance indicator objectives and annually approved the Board. 
 (c) The Employee shall be paid an employment starting bonus of US$100,000 payable in the first applicable payroll after the Effective Date. 

(d) The Company shall reimburse the Employee for all reasonable and documented travel, entertainment and other business expenses actually
and properly incurred by him in connection to his duties hereunder. The Employee shall render expense accounts requesting reimbursements of his expenses hereunder within a reasonable period of time following such expense and in accordance with such
documentation and verification as the President and Chief Executive Officer of the Company may from time to time require. 

  
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 (e) The Employee shall be entitled to participate in such of the Company’s or the
Company’s benefit and deferred compensation plans as are from time to time available to executive officers of the Company, including medical and dental health plans, life and disability insurance plans, supplemental retirement programs and
other fringe benefit plans; provided, however, that the Employee’s benefits may be modified or the Employee may be denied participation in any such plan because of a condition or restriction imposed by law or regulation or third-party
insurer or other provider relating to participation. 
 (f) The Employee shall be entitled to participate in any and all
applicable group savings or retirement plans, or other fringe benefits of the Company as established from time to time in which executive officers are eligible to participate, provided that the Employee shall have fulfilled all eligibility
requirements for such benefits. 
 (g) The Employee shall be entitled to four (4) weeks of paid vacation during each year
of employment hereunder at such time or times as may be selected by the Employee and approved by the President and Chief Executive Officer of the Company, and as are in accordance with the Company’s policies and reasonable operating
requirements. The Employee shall be entitled to all public holidays observed in Canada to a maximum of ten (10) days per annum. 
 5. Termination. The Agreement and Employee’s employment may be terminated in the following manner. In each case, the Company shall have no obligations to the Employee following termination
pursuant to this Section 5, other than as set forth in this Agreement and as provided in any benefit plans in which the Employee is a participant at the date of termination. 

(a) By the Company: 
 (i) For cause, immediately upon notice in writing from the Company to the Employee. For purposes of this Agreement, “cause” shall mean: (1) unless resulting from disability as
defined in Section 5(a)(iv), the Employee’s material breach of any terms of this Agreement, if such material breach has not been cured within thirty (30) days following written notice of such breach to the Employee from the Company
setting forth with specificity the nature of the breach or, if cure cannot reasonably be effected within such 30-day period, if the Employee does not commence to cure the breach within such 30-day period and thereafter pursue such cure continuously
and with due diligence until cure has been fully effected; (2) the Employee’s willful dishonesty towards, fraud upon, crime against, bad faith action with respect to, deliberate or attempted injury to, or gross misconduct or material
noncompliance with the Company’s policies and procedures which is materially injurious to the Company; (3) the Employee’s conviction for any indictable crime (whether in connection with the Company’s affairs or otherwise);
or (4) the Employee’s failure to comply with any lawful directive of the Board, the failure to comply with which is stated in such directive to be grounds for termination. Upon a termination for cause, Employee shall be entitled
only to the Accrued Compensation and shall not be entitled to any other amount of severance pay. 

  
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 (ii) Without cause, at any time upon the giving
of seven (7) days prior written notice by the Company to the Employee or the Company’s election not to extend the Term of the Agreement pursuant to Section 2, Employee shall be entitled to the Accrued Compensation and, subject to the
Employee signing and not revoking the General Release (defined below) and subject to the terms of the General Release, the Company shall pay to the Employee in cash or cash equivalent acceptable to the Employee, in a lump sum on the 30th day after termination (or on the next business day, if the 30th day is a weekend day or a holiday), severance compensation
(“Twelve Months Severance Compensation”) in an amount equal to 1.0 times the sum of (1) the Employee’s then current Base Salary, and (2) the average of the target bonus for the Employee for the current year and the
bonus paid to the Employee for the previous year. 
 (iii) Immediately and without notice upon the death
of the Employee, in which case the Company shall have no further obligation to the Employee’s estate or representatives other than to pay Accrued Compensation up to and including the end of the month in which death occurred. 

(iv) At any time upon 90-day notice in writing from the Company to the Employee, if the Employee, by reason of
disability, shall have failed to perform his duties under the Agreement. During the 90-day notice period, the Employee shall be considered a full-time employee of the Company. The Employee’s disability means his incapacity due to
physical or mental illness such that he is unable to perform his previously assigned duties where (1) such incapacity has been determined to exist by either (a) the Company’s disability insurance carrier or (b) the concurring
opinions of two licensed physicians (one selected by the Company and one by the Employee) or (2) the Employee has failed for any three (3) consecutive months in any calendar year or for six (6) months in the aggregate in any two
successive calendar years to have performed substantially all of his duties under this Agreement by reason of physical or mental illness, as determined by the Board. Any such separation for disability shall be only as not prohibited by human rights
legislation. Upon a termination pursuant to this Section 5(a)(iv), Employee shall be entitled to the Accrued Compensation and such other payments as may be then due under any disability insurance policy of the Company in accordance with the
terms of such policy. 
 (b) By the Employee: 

(i) for material breach of this Agreement by the Company, in which case the Employee shall have
no further obligation to the Company immediately following the end of the Company’s period to remedy the material breach. Upon a termination pursuant to this Section 5(b)(i), Employee shall be entitled to the Accrued Compensation and,
subject to the Employee signing and not revoking the General Release (defined below) and subject to the terms of the General Release, the Company shall make a lump sum payment on the 30th day after termination (or on the next business day, if the
30th day is a weekend day or a holiday) to the Employee in
cash or cash equivalent acceptable to the Employee in an amount equal to Twelve Months 

  
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Severance Compensation. For purposes of this clause, “material breach” shall include the occurrence of any of the following conditions: 

(1) the material reduction by the Company of the Employee’s Base Salary or other benefits; 

(2) the non-payment of compensation and provision of benefits; 

(3) the material reduction by the Company of the Employee’s responsibilities or title; or 

(4) the failure of a successor entity to adopt this Agreement; 

provided that in the case of Employee’s allegation of material breach, (i) Employee shall provide written notice to the
Company of the event alleged to constitute material breach within 30 days after the initial occurrence of such event, and (ii) the Company shall have the opportunity to remedy the alleged material breach event within 30 days from receipt of
notice of such allegation (the “Material Breach Cure Period”). If not remedied within the Material Breach Cure Period, Employee may submit a written notice of termination, provided that the notice of termination must be given no
later than 90 days after the expiration of the Material Breach Cure Period; otherwise, Employee is deemed to have accepted such event, or the Company’s remedy of such event, that may have given rise to the existence of material breach;
provided, however, such acceptance shall be limited to the occurrence of such event and shall not waive Employee’s right to claim material breach with respect to future similar events. 

(ii) voluntarily, if Sections 5(a)(i), 5(a)(ii), 5(b)(i) or 6 are not applicable, at any time upon three
(3) months’ notice in writing to the Company, in which case Employee shall be entitled to the Accrued Compensation and shall not be entitled to any other amount of severance pay. The Company may waive the requirement of written notice or
the notice period in whole or in part, in which case Accrued Compensation shall be computed through the date on which termination would have occurred had the notice not been waived. 

(c) Upon any termination of employment as set forth in Sections 5 or 6, the Employee shall, unless otherwise advised by the Company, do
the following: 
 (i) Immediately resign all offices held (including directorships, if any) in the Company (and
any subsidiary or other affiliated company of the Company and any entity in which Employee holds office at the direction of the Company) and, except as provided in this Agreement, the Employee shall not be entitled to receive any additional
severance payment or additional compensation for loss of office or otherwise by reason of the resignation. If the Employee fails to resign as described herein, the Company is irrevocably authorized to appoint any other person in his name and on his

  
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behalf to sign any documents or do any things necessary or requisite to give effect to such resignation; and 

(ii) Promptly return to the Company all books of account, computer files, maps, records, reports and other documents,
materials and property of the Company in the possession or control of the Employee. 
 (d) Except as provided in this
Section 5, all amounts payable in cash or cash equivalent acceptable to Employee under this Section 5 shall, within the time periods set forth in the General Release (defined below), at the option of the Company be delivered to the
Employee personally or be mailed to the Employee at the address referred to in Section 10(d). 
 (e) Prior to, and as an
express condition precedent of, payment of the Twelve Months Severance Compensation, as applicable, Employee shall sign, and not revoke, a complete and comprehensive release of all claims against the Company and all related entities and individuals
in a form acceptable to the Company (the “General Release”) within thirty (30) days of termination. 
 (f) Accrued Compensation shall be paid to Employee on the 30th day after termination (or on the next business day, if the 30th day is a weekend day or a holiday) to the Employee in cash or cash equivalent acceptable to the Employee unless otherwise required to be paid at an earlier or later date by applicable law or the terms of
a benefit plan under which any amount of Accrued Compensation is provided. 
 6. Change of Control. 

(a) In the event of a Termination Upon a Change in Control, Employee shall be entitled to Accrued Compensation and,
subject to the Employee signing and not revoking the General Release and subject to the terms of the General Release, the Company shall pay to the Employee in a lump sum payment the Change of Control Severance on the 30th day after the date of termination (or on the next business day, if
the 30th day is a weekend day or a holiday). For the
avoidance of doubt, a Termination upon a Change of Control shall not constitute a termination under Section 5 of this Agreement, and the Employee shall not be entitled to any payment or benefits under Section 5. The Company shall have no
further obligation to the Employee except as provided under this Agreement and in any benefit plans in effect at the date of termination which are applicable to Employee. 

(i) “Termination Upon a Change in Control” shall mean a termination of the Employee by the Company
without cause within twelve (12) months following a Change in Control (as defined below) or a termination by the Employee for Good Reason within twelve (12) months following a Change in Control. 

(ii) “Good Reason” shall mean any of the following (without the Employee’s express written consent):

  
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 (1) the assignment to the Employee by the Company of duties inconsistent
with, or a substantial alteration in the nature or status of, the Employee’s responsibilities immediately prior to a Change in Control; 
 (2) a material reduction by the Company in the Employee’s compensation or benefits as in effect on the date of a Change in Control; 

(3) any material breach by the Company of any provision of this Agreement; or 

(4) any failure by the Company to obtain the assumption and performance of this Agreement by any successor (by merger,
consolidation or otherwise) or assign of the Company; 
 provided that in the case of Employee’s allegation of Good Reason,
(i) Employee shall provide written notice to the Company of the event alleged to constitute Good Reason within 30 days after the initial occurrence of such event, and (ii) the Company shall have the opportunity to remedy the alleged Good
Reason event within 30 days from receipt of notice of such allegation (the “Good Reason Cure Period”). If not remedied within the Good Reason Cure Period, Employee may submit a written notice of termination, provided that the notice
of termination must be given no later than 90 days after the expiration of the Good Reason Cure Period; otherwise, Employee is deemed to have accepted such event, or the Company’s remedy of such event, that may have given rise to the existence
of Good Reason; provided, however, such acceptance shall be limited to the occurrence of such event and shall not waive Employee’s right to claim Good Reason with respect to future similar events. 

(iii) A “Change in Control” shall be deemed to have occurred if (1) any “person” or
“group” (within the meaning of Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company, is or becomes the
“beneficial owner” (as defined in Rule 13d-3 under the 1934 Act), directly or indirectly, of more than thirty percent (30%) of the then outstanding voting stock of the Company; or (2) persons who are Incumbent Directors
cease to constitute a majority of the Board; or (3) the shareholders of the Company approve a merger, consolidation or amalgamation of the Company with any other corporation, other than a merger, consolidation or amalgamation which would result
in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty percent (50%) of the
combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger, consolidation or amalgamation, or (4) the shareholders approve a plan of complete liquidation of the Company or
the sale or disposition by the Company of all or substantially all of the Company’s assets in one or a series of related transactions. 

  
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 (iv) “Incumbent Director” means any person who serves on
the Board as of the date of this Agreement and any person who is added to the Board thereafter with the approval of a majority of the persons who are then Incumbent Directors. 

(v) “Change of Control Severance” means an amount equal to (a) two times the sum of (1) the
Employee’s Base Salary for the calendar year in which the termination became effective, (2) the average of the target bonus for the Employee for the current calendar year and the bonus paid to the Employee for the previous year, plus
(b) a portion of the target bonus for the Employee for the current calendar year which is pro rata to the portion of such year prior to the Employee’s Change of Control Termination. 

(b) In the event of a Termination Upon a Change of Control, the Company shall, at its sole expense, provide the Employee with
outplacement services, the scope and provider of which shall be selected by the Employee in his sole discretion and the cost of which shall not exceed an amount equal to 10% of the Employee’s then current Base Salary. Such outplacement service
expenses must be incurred by the Employee on or before the last day of the second taxable year following the year in which the Employee’s employment was terminated, and reimbursement payments to the Employee must be made on or before the last
day of the third taxable year following the year in which the Employee’s employment was terminated. 
 (c) Prior to, and as
an express condition precedent of, payment of the Change of Control Severance or the provision of any outplacement services, Employee shall sign, and not revoke, the General Release within thirty (30) days of termination. 

(d) Accrued Compensation shall be paid to Employee on the
30th day after termination (or on the next business day,
if the 30th day is a weekend day or a holiday) to the
Employee in cash or cash equivalent acceptable to the Employee unless otherwise required to be paid at an earlier or later date by applicable law or the terms of a benefit plan under which any amount of Accrued Compensation is provided. 

7. Acceleration and Vesting of Stock Options. Subject to the terms of the Option Plan, all of the stock options granted to the
Employee under the Option Plan shall become immediately exercisable and vested and shall remain exercisable for a period of 12 months from the date of termination of the Employee (a) upon a Change of Control or (b) if after the first
anniversary of the Effective Date (i) the Board shall fail at any given time to elect the Employee as a Vice President of the Company or to an executive position possessing comparable duties and responsibilities or (ii) should the Company
terminate the Agreement or the employment of the Employee without cause. Notwithstanding any of the foregoing and subject to the terms of the Option Plan, under no circumstances shall an option remain exercisable for more than ten (10) years
after the date it was granted. 
 8. Confidentiality and Restrictive Covenant. The Employee acknowledges that as a
condition of his employment he is required to maintain the confidentiality of the Company’s confidential and proprietary information and, accordingly, acknowledges that he is a party to and continues to be bound by the Confidentiality and
Restrictive Covenant Agreement dated as of the 

  
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date of this Agreement between the Company and the Employee (the “Confidentiality Agreement”). 
 9. Golden Star Policies. The Employee agrees to comply with the written policies of the Company, including the Code of Ethics for Directors, Senior Executive and Financial Officers and other
Executive Officers and the Business Conduct and Ethics Policy, and the Insider Trading and Reporting Policy. 
 10.
Miscellaneous. 
 (a) The failure to insist upon strict compliance with any of the terms, covenants or conditions of this
Agreement shall not be deemed a waiver of such terms, covenants or conditions, and the waiver by either party of a breach of any provision of this Agreement shall not operate as or be construed as a waiver of any subsequent breach thereof.

 (b) Should a court or other body of competent jurisdiction determine that any provision of this Agreement is invalid or
unenforceable, such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent possible, and all other provisions of the Agreement shall be deemed valid and enforceable to the extent possible.

 (c) This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado, without reference
to principles of conflict of laws. 
 (d) The parties hereby agree that any dispute or controversy arising out of or relating to
this Agreement, the Employee’s employment with the Company, or the termination or cancellation of that employment or this Agreement, including without limitation any claim by the Employee under any federal or provincial law or statute regarding
discrimination in employment, except as may be required to seek injunctive action under the Confidentiality Agreement, shall be settled by arbitration by a single arbitrator in accordance with the Commercial Arbitration Rules of the American
Arbitration Association from time to time in force. The hearing on any such arbitration shall be held in Denver, Colorado. If such Commercial Arbitration Rules and practices shall conflict with the Colorado Rules of Civil Procedure or any other
provisions of Colorado law then in force, such Colorado rules and provisions shall govern. This submission and agreement to arbitration shall be specifically enforceable. 
 Within thirty (30) days after the receipt by one party of a written notice to arbitrate delivered by the other party, the parties shall mutually select the arbitrator. If the parties cannot agree on
such arbitrator, the selection of the arbitrator shall be made in accordance with the procedures of the American Arbitration Association. 
 Awards shall be final and binding on all parties to the extent and in the manner provided by Colorado law. Each award shall expressly entitle the prevailing party to recover such party’s legal fees
and costs, and the award shall specifically allocate such fees and costs between the parties. All awards may be filed by any party with the Clerk of the District Court in the City and County of Denver, Colorado, and an appropriate judgment entered
thereon and execution issued therefore. At the election of any party, said award may also be filed, and judgment entered 

  
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thereon and execution issued therefore, with the clerk of one or more other courts, state or federal, having jurisdiction over the party against whom such an award is rendered or its property.

 (e) Any and all notices referred to herein shall be in writing and may be delivered by mail, by facsimile transmission or by
hand. Notice shall be deemed given (1) five (5) days after mailing, if mailed in the United States by registered mail, (2) on the date of actual receipt if given by facsimile transmission, or (3) on the date of delivery, if
delivered by hand. 
 Address for mailing, telecopy or delivery by hand shall be as follows: 

 

	 	•	 	 To the Employee: 

 Mr. Sam Coetzer 
 3 Saintfield Avenue 

Toronto, Ontario M3C 2M4 
 CANADA 
 Fax:  
                                         
                          
  

	 	•	 	 To the Company: 

 Golden Star Resources Ltd. 
 10901 W. Toller Drive, Suite 300 

Littleton, CO 80127 
 UNITED STATES 
 Attention: President and CEO 

Fax:   +1-303-830-9094 
 Or such other address as either party may from time to time designate in writing. 

(f) This Agreement is personal to the Employee and without the prior written consent of the Company shall not be assignable by the
Employee, provided that a deceased Employee’s right to payment hereunder may be assigned by will or the laws of descent and distribution. 
 This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 
 The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to assume
expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the
Company as hereinbefore 

  
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defined and any successor to its business and/or assets that assumes and agrees to perform this Agreement by operation of law, or otherwise. 

(g) This Agreement supersedes any and all prior written and oral employment agreements between the Company and the Employee and, together
with the Confidentiality Agreement, represents the entire agreement between the Company and the Employee and may be amended, modified, superseded, or cancelled, and any of the terms hereof may be waived, only by a written instrument executed by each
party hereto or, in the case of a waiver, by the party waiving compliance. The failure of any party at any time or times to require performance of any provisions hereof shall not affect the right at a later time to enforce the same. 

(h) This Agreement may be executed by the parties hereto in counterparts, each of which shall be deemed an original, but all such
counterparts shall together constitute one and the same instrument. 
 (i) All compensation and benefits contemplated in this
Agreement shall be reduced by all federal, provincial, local and other income taxes, payroll taxes, and other deductions and withholdings required by applicable law. 
 SIGNATURE PAGE FOLLOWS 

  
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 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the
day and year appearing on page one of this Agreement. 
 GOLDEN STAR RESOURCES LTD. 

 

							
	By:	  	 /s/ Thomas G. Mair
	  		  	 /s/ John A. Labate

	Name: Thomas G. Mair	  		  	Witness
	Title: President and Chief Executive Officer	  		  	
			
	 /s/ Sam Coetzer
	  		  	 /s/ John A. Labate

	Sam Coetzer	  		  	Witness

  
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 CONFIDENTIALITY AND RESTRICTIVE COVENANT AGREEMENT 

THIS CONFIDENTIALITY AND RESTRICTIVE COVENANT AGREEMENT (the “Agreement”), made as of the 9th day of March, 2011 (the “Effective Date”) by and
between GOLDEN STAR RESOURCES LTD. and MR. SAM COETZER (the “Employee” or “you”). 
 WHEREAS Golden Star Resources Ltd. and the Employee are parties to an Employment Agreement dated the date hereof. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, THE PARTIES HERETO AGREE AS FOLLOWS: 
 In connection with your employment with Golden Star Resources Ltd. and its affiliates (collectively the “Company”), you have access to financial, operating, technical and other
information concerning the Company and its mining assets and specifically, but not limited to, the properties of the Company, or access to confidential records of the Company containing such information, some of which has not previously been made
available to the public at large prior to the date hereof (“Confidential Information”). 
 You understand that Confidential
Information received by you in the course of your employment with the Company is considered by the Company to be confidential in nature and you will treat it as such. In consideration for being employed by the Company as aforesaid, you agree to the
covenants that follow and you will not, without the express written consent of the Company, use Confidential Information for any purpose other than to provide the employment services for which you were hired. 

The term “person” as used herein shall be interpreted very broadly and shall include without limitation any corporation, company,
partnership or individual. 
 You agree that you will not, either during the term of your employment with the Company, or at any time
thereafter, disclose or reveal in any manner whatsoever, the Confidential Information to any other person, except as required to carry out the terms of your employment, nor shall you make any use thereof, directly or indirectly, for any purpose
other than the purposes of the Company, and you shall not disclose or use for any purposes, other than those of the Company, the Confidential Information. 
 You are hereby advised that there are restrictions on the purchase of securities imposed by applicable Canadian and United States securities laws and other domestic and foreign laws relating to the
possession of material information about a public company that has not previously been made available to the public at large. 
 In the event
that your employment with the Company is terminated for any reason whatsoever, you agree that you shall return to the Company promptly any documents, photographs, magnetic tapes and other property containing Confidential Information which were
received by you pursuant hereto without retaining copies thereof. 

 The provisions of this Agreement relating to Confidential Information will not apply to any part of such
Confidential Information which you can clearly demonstrate to the reasonable satisfaction of the Company is now or subsequently becomes part of the public domain through no violation of this Agreement, or was in your lawful possession prior to its
disclosure to you by the Company. 
 You shall not, without the Company’s prior written approval, at any time during the period of your
employment and within two (2) years following the termination of your employment with the Company, (a) either individually or with any other person, whether as principal, agent, shareholder, officer, advisor, manager, employee or
otherwise, (i) solicit, recruit or employ any person who is a full time employee of the Company or (ii) make use of, disseminate or disclose any of the Confidential Information; or (b) individually or through any entity controlled by
you, acquire, lease or otherwise obtain or control any beneficial, direct or indirect interest in mineral rights or other rights or lands within twenty five (25) kilometers of any mineral property in which the Company holds, contemplates
acquiring or is negotiating to acquire an interest at the time of termination. 
 If, notwithstanding the prohibition set forth in the preceding
paragraph, you acquire, lease or otherwise obtain or control any interest, directly or indirectly, in breach of the preceding paragraph, you shall notify the Company of such acquisition within the thirty (30) days immediately following the date
of such acquisition and you agree, upon demand by the Company, to convey or cause to be conveyed such interest to the Company as soon as practicable thereafter, in consideration of the payment by the Company to you of the sum of US$1.00. 

In the event of a breach of any of the covenants contained in this Agreement, it is understood that damages will be difficult to ascertain, and the
Company may petition a court of law or equity for injunctive relief in addition to any other relief which the Company may have under the law or under this Agreement. Injunctive relief may be granted immediately upon the commencement of any such
action, and Company need not post a bond to obtain temporary or permanent injunctive relief. 
 By signing this Agreement, you represent and
warrant to the Company as follows: 
 a. You acknowledge the success of the Company’s business depends in large part on the
protection of the Company’s Confidential Information, including its trade secrets. You acknowledge your access to the Company’s Confidential Information, coupled with the personal relationships and goodwill between the Company and its
customers, enables and will enable you to compete unfairly against the Company. 
 b. You have full power, authority, and
capacity to enter into this Agreement and to perform the obligations hereunder. This Agreement has been executed voluntarily by you and constitutes a valid and binding agreement. 

c. You have read this Agreement and has had the opportunity to have this Agreement reviewed by legal counsel. 

d. To the best of your knowledge, your employment with Company has and will not (i) conflict with or result in a breach of any of
the provisions of, (ii) constitute a default under, (iii) result in the violation of, (iv) give any third party the right to terminate or to accelerate any obligation under, or (v) require any authorization, consent, approval,
execution, or other action by or 

  
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notice to any court or other governmental body under the provisions of any other agreement or instrument to which you are bound or affected. 

e. Given the nature of the business in which the Company is engaged, the restrictions in this Agreement, including their geographic scope
and duration, are reasonable and necessary to protect the legitimate interests of the Company. 
 f. As the Executive Vice
President and Chief Operating Officer of the Company, you are among the Company’s executive personnel, management personnel, or officers and employees who constitute professional staff to executive and management personnel. Moreover, you
acknowledge this Agreement is designed and intended to protect the Company’s Confidential Information, including the Company’s trade secrets. 
 It is further understood and agreed that no failure or delay by the Company in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise thereof preclude any other right, power or privilege hereunder. 
 Should any provision or provisions of this Agreement be illegal or
not enforceable, it or they shall be considered separate and severable from this Agreement and its remaining provisions shall remain in force and be binding upon the parties as though the provision or provisions had never been included. 

Your obligations under this Agreement shall bind your heirs, executors and legal representatives, and the rights of the Company under this Agreement
shall inure to the benefit of its successors and assigns. 
 This Agreement shall be governed and construed in accordance with the laws of the
State of Colorado. You agree to submit to the venue and personal jurisdiction of the Colorado state and federal courts concerning any dispute arising from or relating to this Agreement; however the Company is not limited in seeking relief in those
courts. 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
appearing on page one of this Agreement. 
 GOLDEN STAR RESOURCES LTD. 

 

							
	By:	  	 /s/ Thomas G. Mair
	  		  	 /s/ John A. Labate

	Name: Thomas G. Mair	  		  	Witness
	Title: President & CEO	  		  	
			
	 /s/ Sam Coetzer
	  		  	 /s/ John A. Labate

	Sam Coetzer	  		  	Witness

  
 4Enertopia Corp.: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1

STOCK OPTION AGREEMENT 

ENERTOPIA CORP. 

THIS AGREEMENT is entered into as of the 10th day of March,
2011 (the “Date of Grant”) 

BETWEEN: 

ENERTOPIA CORP., a company
incorporated pursuant to the laws of the State of Nevada, of Suite 950 1130 West
Pender, Vancouver, BC V6E 4A4 

(the “Company”) 

AND: 

(the “Optionee”) 

WHEREAS: 

A. The Board of Directors of the Company (the “Board”) has
approved and adopted the 2010 Stock Option Plan (the “Plan”), pursuant to which
the Board is authorized to grant to employees and other selected persons stock
options to purchase common shares of the Company (the “Common Stock”); 

B. The Plan provides for the granting of stock options that
either (i) are intended to qualify as “Incentive Stock Options” within the
meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the
“Code”), or (ii) do not qualify under Section 422 of the Code (“Non-Qualified
Stock Options”); and 

C. The Board has authorized the grant to the Optionee of
options to purchase a total of 100,000 shares of Common Stock (the
“Options”), which Options are intended to be (select one): 

	 	[   ] 	Incentive Stock Options; 
	 	[X] 	Non Qualified Stock Options

NOW THEREFORE, the Company agrees to offer to the Optionee the
option to purchase, upon the terms and conditions set forth herein and in the
Plan, XXX shares of Common Stock. Capitalized terms not otherwise defined
herein shall have the meanings ascribed thereto in the Plan. 

1. Exercise Price. The exercise price of the options
shall be US $0.15 per share. 

- 2 - 

2. Limitation on the Number of Shares. If the Options
granted hereby are Incentive Stock Options, the number of shares which may be
acquired upon exercise thereof is subject to the limitations set forth in
Section 5.1 of the Plan. 

3. Vesting Schedule. The Options shall vest in
accordance with Exhibit A. 

4. Options not Transferable. The Options may not be
transferred, assigned, pledged or hypothecated in any manner (whether by
operation of law or otherwise) other than by will, by applicable laws of descent
and distribution or, in the case of a Non-Qualified Stock Option, pursuant to a
qualified domestic relations order, and shall not be subject to execution,
attachment or similar process; provided, however, that if the Options
represent a Non-Qualified Stock Option, such Option is transferable without
payment of consideration to immediate family members of the Optionee or to
trusts or partnerships established exclusively for the benefit of the Optionee
and Optionee’s immediate family members. Upon any attempt to transfer, pledge,
hypothecate or otherwise dispose of any Option or of any right or privilege
conferred by the Plan contrary to the provisions thereof, or upon the sale, levy
or attachment or similar process upon the rights and privileges conferred by the
Plan, such Option shall thereupon terminate and become null and void. 

5. Investment Intent. By accepting the Options, the
Optionee represents and agrees that none of the shares of Common Stock purchased
upon exercise of the Options will be distributed in violation of applicable
federal and state laws and regulations. In addition, the Company may require, as
a condition of exercising the Options, that the Optionee execute an undertaking,
in such a form as the Company shall reasonably specify, that the Stock is being
purchased only for investment and without any then-present intention to sell or
distribute such shares. 

6. Termination of Employment and Options. Vested Options
shall terminate, to the extent not previously exercised, upon the occurrence of
the first of the following events: 

	 	(a) 	
      Expiration. Five (5) years from the Date of
      Grant.

	 	 	 
	 	(b) 	
      Termination for Cause. The date of the first
      discovery by the Company of any reason for the termination of an
      Optionee’s employment or contractual relationship with the Company or any
      related company for cause (as determined in the sole discretion of the
      Plan Administrator), and, if an Optionee’s employment is suspended pending
      any investigation by the Company as to whether the Optionee’s employment
      should be terminated for cause, the Optionee’s rights under this Agreement
      and the Plan shall likewise be suspended during the period of any such
      investigation.

	 	 	 
	 	(c) 	
      Termination Due to Death or Disability. The
      expiration of one (1) year from the date of the death of the Optionee or
      cessation of an Optionee’s employment or contractual relationship by
      reason of disability (as defined in Section 5.1(g) of the Plan). If an
      Optionee’s employment or contractual relationship is terminated by death,
      any Option held by the Optionee shall be exercisable only by the person or
      persons to whom such Optionee’s rights under such Option shall pass by the
      Optionee’s will or by the laws of descent and
  distribution.

- 3 - 

	 	(d) 	
      Termination for Any Other Reason. The expiration
      of ninety (90) days from the date of an Optionee’s termination of
      employment or contractual relationship with the Company or any Related
      Corporation for any reason whatsoever other than termination of service as
      a director, cause, death or Disability (as defined in Section 5.1(g) of
      the Plan).

Each unvested Option granted pursuant hereto shall terminate
immediately upon termination of the Optionee’s employment or contractual
relationship with the Company for any reason whatsoever, including Disability
unless vesting is accelerated in accordance with Section 5.1(f) of the Plan.

7. Stock. In the case of any stock split, stock dividend
or like change in the nature of shares of Stock covered by this Agreement, the
number of shares and exercise price shall be proportionately adjusted as set
forth in Section 5.1(m) of the Plan. 

8. Exercise of Option. Options shall be exercisable, in
full or in part, at any time after vesting, until termination; provided,
however, that any Optionee who is subject to the reporting and liability
provisions of Section 16 of the Securities Exchange Act of 1934 with
respect to the Common Stock shall be precluded from selling or transferring any
Common Stock or other security underlying an Option during the six (6) months
immediately following the grant of that Option. If less than all of the shares
included in the vested portion of any Option are purchased, the remainder may be
purchased at any subsequent time prior to the expiration of the Option term. No
portion of any Option for less than fifty (50) shares (as adjusted pursuant to
Section 5.1(m) of the Plan) may be exercised; provided, that if the vested
portion of any Option is less than fifty (50) shares, it may be exercised with
respect to all shares for which it is vested. Only whole shares may be issued
pursuant to an Option, and to the extent that an Option covers less than one (1)
share, it is unexercisable. 

Each exercise of the Option shall be by means of delivery of a
notice of election to exercise (which may be in the form attached hereto as
Exhibit B) to the President of the Company at its principal executive
office, specifying the number of shares of Common Stock to be purchased and
accompanied by payment in cash by certified check or cashier’s check in the
amount of the full exercise price for the Common Stock to be purchased. In
addition to payment in cash by certified check or cashier’s check, an Optionee
or transferee of an Option may pay for all or any portion of the aggregate
exercise price by complying with one or more of the following alternatives: 

	 	(a) 	
      by delivering to the Company shares of Common Stock
      previously held by such person, duly endorsed for transfer to the Company,
      or by the Company withholding shares of Common Stock otherwise deliverable
      pursuant to exercise of the Option, which shares of Common Stock received
      or withheld shall have a fair market value at the date of exercise (as
      determined by the Plan Administrator) equal to the aggregate purchase
      price to be paid by the Optionee upon such exercise; or

	 	 	 
	 	(b) 	
      by complying with any other payment mechanism approved by
      the Plan Administrator at the time of
exercise.

- 4 - 

It is a condition precedent to the issuance of shares of Common
Stock that the Optionee execute and/or deliver to the Company all documents and
withholding taxes required in accordance with Section 5.1 of the Plan. 

9. Holding period for Incentive Stock Options. In order
to obtain the tax treatment provided for Incentive Stock Options by Section 422
of the Code, the shares of Common Stock received upon exercising any Incentive
Stock Options received pursuant to this Agreement must be sold, if at all, after
a date which is later of two (2) years from the date of this agreement is
entered into or one (1) year from the date upon which the Options are exercised.
The Optionee agrees to report sales of shares prior to the above determined date
to the Company within one (1) business day after such sale is concluded. The
Optionee also agrees to pay to the Company, within five (5) business days after
such sale is concluded, the amount necessary for the Company to satisfy its
withholding requirement required by the Code in the manner specified in Section
5.1(l) of the Plan. Nothing in this Section 9 is intended as a representation
that Common Stock may be sold without registration under state and federal
securities laws or an exemption therefrom or that such registration or exemption
will be available at any specified time. 

10. Resale restrictions may apply. Any resale of the
shares of Common Stock received upon exercising any Options will be subject to
resale restrictions contained in the securities legislation applicable to the
Optionee. The Optionee acknowledges and agrees that the Optionee is solely
responsible (and the Company is not in any way responsible) for compliance with
applicable resale restrictions. 

11. Subject to 2010 Stock Option Plan. The terms of the
Options are subject to the provisions of the Plan, as the same may from time to
time be amended, and any inconsistencies between this Agreement and the Plan, as
the same may be from time to time amended, shall be governed by the provisions
of the Plan, a copy of which has been delivered to the Optionee, and which is
available for inspection at the principal offices of the Company. 

12. Subject to Shareholder Approval. As of the date
first awarded, the Company did not have sufficient shares available in its
authorized share capital, to issue additional shares as would be necessary under
the terms of this Stock Option Agreement. The Company is seeking shareholder
approval at its annual general meeting to be held on or about February 26, 2010
to increase its authorized share capital to 200,000,000 shares, thus allowing
for the issuance of the shares contemplated in this Stock Option Agreement. The
Optionee understands that the shares contemplated for issuance under this Stock
Option Agreement can therefore not be issued, and the Optionee agrees to not
exercise this option to acquire such shares, until such time as shareholder
approval has been granted to the Company to increase its shares authorized to
sufficient quantity to allow for such shares to be validly issued. 

13. Professional Advice. The acceptance of the Options
and the sale of Common Stock issued pursuant to the exercise of Options may have
consequences under federal and state tax and securities laws which may vary
depending upon the individual circumstances of the Optionee. Accordingly, the
Optionee acknowledges that he or she has been advised to consult his or her
personal legal and tax advisor in connection with this Agreement and his or her
dealings with respect to Options. Without limiting other matters to be
considered with the assistance of the Optionee’s professional advisors, the
Optionee should consider: (a) whether upon the exercise of Options, the Optionee will file an
election with the Internal Revenue Service pursuant to Section 83(b) of the Code
and the implications of alternative minimum tax pursuant to the Code; (b) the
merits and risks of an investment in the underlying shares of Common Stock; and
(c) any resale restrictions that might apply under applicable securities laws. 

- 5 - 

14. No Employment Relationship. Whether or not any
Options are to be granted under this Plan shall be exclusively within the
discretion of the Plan Administrator, and nothing contained in this Plan shall
be construed as giving any person any right to participate under this Plan. The
grant of an Option shall in no way constitute any form of agreement or
understanding binding on the Company or any Related Company, express or implied,
that the Company or any Related Company will employ or contract with an
Optionee, for any length of time, nor shall it interfere in any way with the
Company’s or, where applicable, a Related Company’s right to terminate
Optionee’s employment at any time, which right is hereby reserved. 

15. Entire Agreement. This Agreement is the only
agreement between the Optionee and the Company with respect to the Options, and
this Agreement and the Plan supersede all prior and contemporaneous oral and
written statements and representations and contain the entire agreement between
the parties with respect to the Options. 

16. Notices. Any notice required or permitted to be made
or given hereunder shall be mailed or delivered personally to the addresses set
forth below, or as changed from time to time by written notice to the other:

The Company: 

Enertopia Corp. 
Suite 950
1130 West Pender Street
Vancouver, BC V6E 4A4 
Attention: President

With a copy to: 

W.L. Macdonald Law Corporation

1210 – 777 Hornby Street 
Vancouver, British Columbia V6Z 1S4

Attention: William Macdonald 

The Optionee: 

_____________________

_____________________ 
_____________________ 
_____________________

- 6 - 

ENERTOPIA CORP. 

Per:
____________________________
       
Authorized Signatory 

____________________________
[ ] 

- 7 - 

EXHIBIT A 

TERMS OF THE OPTION 

	Name of the Optionee: 	  
	 	 
	Date of Grant: 	February 14, 2011 
	 	 
	Designation: 	Qualified Stock Options 
	 	 
	1. 	Number of Options granted: 	XXX stock options 
	 	 	 
	2. 	Purchase Price: 	$0.15 per share 
	 	 	 
	3. 	Vesting Date: 	XXX options on February 14, 2011; 
	  	  	  
	4. 	Expiration Date: 	February 14, 2016 

- 8 - 

EXHIBIT B 

To: 

Enertopia Corp. 
Suite 950
1130 West Pender 
Vancouver, BC V6E 4A4 
Attention: President 

Notice of Election to Exercise 

This Notice of Election to Exercise shall constitute proper
notice pursuant to Section 5.1(h) of Enertopia Corp.’s (the “Company”) 2010
Stock Option Plan (the “Plan”) and Section 8 of that certain Stock Option
Agreement (the “Agreement”) dated as of the 
_______day of
__________________, 20___, between the Company and the undersigned. 

The undersigned hereby elects to exercise Optionee’s option to
purchase __________________shares of the common stock of the Company at a price
of US$0.20 per share, for aggregate consideration of US$__________, on the terms
and conditions set forth in the Agreement and the Plan. Such aggregate
consideration, in the form specified in Section 8 of the Agreement, accompanies
this notice. 

The Optionee hereby directs the Company to issue, register and
deliver the certificates representing the shares as follows: 

	Registration Information: 	 	Delivery Instructions: 
	 	 	 
	 	 	 
	Name to appear on
      certificates 	 	Name
  
	 	 	 
	 	 	 
	Address 	 	Address
    
	 	 	 
	 	 	 
	 
    	 	  
	  	 	Telephone Number 

DATED at ____________________________________, the _______day
of ________________________, 20___. 

	 	 
	 	(Name of Optionee – Please type or print)

	 	 
	 	 
	 	(Signature and, if applicable, Office) 
	 	 
	 	 
	 	(Address of Optionee) 
	 	 
	 	 
	 	(City, State, and Zip Code of Optionee)

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