Document:

FORM OF STOCK OPTION AGREEMENT (DIRECTOR)

 EXHIBIT 10.4 
 STOCK OPTION AGREEMENT 
 THIS AGREEMENT is entered into
effective as of the      day of         , 20     (the “Date of Grant”) 
 BETWEEN: GOLDEN STAR RESOURCES LTD., having its head office at 10901 W. Toller Drive, Suite 300, Littleton, CO 80127 (hereinafter called the “Company”) 

OF THE FIRST PART 
 AND:
                            , the undersigned director of the Company (hereinafter called the
“Optionee”) 
 OF THE SECOND PART 
 WHEREAS: 
  

	A.	Pursuant to the Third Amended and Restated 1997 Stock Option Plan as amended (the “Plan”), the Board of Directors of the Company (the “Board”) is
authorized to make certain grants of Nonqualified Stock Options to purchase common shares, without par value, of the Company (the “Common Shares”) to its non-employee directors; and 

 

	B.	The Board has authorized the grant to the Optionee of an option (the “Option”) to purchase that number of Common Shares as is set out below (the
“Optioned Shares”). 

 NOW THEREFORE in consideration of the premises and of the covenants and conditions
hereinafter set forth, the parties hereto agree as follows: 
  

	1.	Definitions 

 For purposes
of this Agreement, all capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Plan. 
  

	2.	Grant 

 The Company hereby
grants to the Optionee the Option to purchase the Optioned Shares, upon the terms and conditions set forth herein and in the Plan. 
  

	3.	Exercise Price 

 The
exercise price for Optioned Shares shall be as set out below (“Exercise Price”). 
  

	4.	Option Term 

 The Option
granted hereby shall expire as set out below (the “Option Expiry Date”) unless sooner terminated or modified under the provisions of this Agreement or the Plan. 

 

	5.	Exercise 

 The Option
shall vest immediately. 
 Except as provided in Section 7 hereof, the Option may only be exercised while the Optionee is
at the time of such exercise a director of the Company and shall have continuously so served since the grant of the Option. 

The exercise of the Option or any part thereof will be contingent upon receipt by the Company of written notice of Optionee’s
exercise of the Option and payment for the full purchase price of the Optioned Shares being purchased in cash by way of certified cheque or bank draft. 

	6.	Option Not Transferable 

The Option is not transferable or assignable except as specifically provided in Section 9 of the Plan. 

 

	7.	Termination of Services as a Director 

 If the Optionee ceases to provide services to, the Company or any of its subsidiaries for any reason (other than death), the Optionee may only exercise the Option, to the extent it has vested and not been
exercised before such termination, until the earlier of: 
 (a) the date that is twelve (12) months after the Optionee
ceases to be a director for any reason (other than death); and 
 (b) the Option Expiry Date.] 

 

	8.	Death of the Optionee 

 In
the event of the death of the Optionee while providing services to the Company or its subsidiaries or in the post-termination period described in Section 7 above, the Option shall be exercisable, to the extent that the Option has vested and not
been exercised prior to Optionee’s death, until the earlier of: 
 (a) One (1) year after the death of the Optionee;
and 
 (b) the Option Expiry Date. 
 Provided however, that the Option is only exercisable in such event by the person(s) to whom the Optionee’s rights under the Option shall pass by the Optionee’s will or by the laws of descent
and distribution. 
  

	9.	Non-Qualified Option 

 The
Optionee acknowledges that the Option is not intended to qualify under Section 422 of the United States Internal Revenue Code of 1986, as amended. 
  

	10.	Subject to the Plan 

 The
terms of this Option 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 received by the Optionee, and which is available for inspection at the principal offices of the Company. 
  

	11.	Professional Advice 

 The
acceptance and exercise of the Option and the sale of Common Shares issued to exercise the Option may have consequences under federal, provincial and state tax and securities laws which may vary depending on the individual circumstances of the
Optionee. Accordingly, the Optionee acknowledges that he has been advised to consult his personal legal and tax advisor in connection with this Agreement and his dealings with respect to the Option or the Company’s Common Shares. 

 

	12.	Governing Law 

 This
Agreement shall be construed and interpreted in accordance with the laws of the Province of Ontario. 

  
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	13.	Entire Agreement 

 This
Agreement and the Plan supersede all prior and contemporaneous oral and written statements and representations and contains the entire agreement between the parties with respect to the Option. 

IN WITNESS WHEREOF the parties have executed these presents as of the day and the year first above written. 

 

			
	*	  	Number of Optioned Shares:                 
	*	  	Exercise Price:                 
	*	  	Option Expiry Date:
                                
		  	

  

			
	GOLDEN STAR RESOURCES LTD.
		
	By:	 	  

		
		 	  

  
 3FIRST AMENDMENT TO THE AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 EXHIBIT 10.7 
 FIRST AMENDMENT TO EMPLOYMENT AGREEMENT 
 This First Amendment
(“Amendment”), made as of February 22, 2011, by and between Thomas G. Mair (the “Employee”) and GOLDEN STAR MANAGEMENT SERVICES COMPANY, a Delaware corporation (the “Company”), amends that
certain Amended and Restated Employment Agreement (“Agreement”) made as of March 7, 2008, by and between the Employee and the Company. Terms not otherwise defined herein shall have the meanings ascribed to such terms in the
Agreement. 
 Recitals 
 WHEREAS, the Company and the Employee wish to amend the Agreement as set forth below. 
 NOW THEREFORE, in consideration of the premises and mutual covenants and obligations herein set forth and for other good and valuable consideration, the receipt, sufficiency and adequacy of which is
hereby acknowledged, accepted and agreed to, the parties hereto, intending to be legally bound, hereby agree as follows: 

Agreement 
 1.
Section 5(b)(ii) of the Agreement shall be amended and restated as follows: 
 (ii) Without cause, at any time upon
the giving of seven 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. The Company shall pay to the Employee in cash or cash equivalent
acceptable to the Employee, in a lump sum at the time of termination, Accrued Compensation plus severance compensation (“Severance Compensation”) in an amount equal to two (2) times the sum of (1) the Employee’s then
current Base Salary, (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, (3) the amount of employer contributions contributed to the Employee’s account
for the most recent plan year before the termination date, under Administaff Retirement Services (ARS) 401k Plan or any successor plan and (4) the amount paid by the Company for welfare benefits on behalf of the Employee for the most recent
year. However, to the extent that such payment exceeds two times the lesser of (1) the sum of Employee’s Base Salary and bonus under Golden Star’s Executive Management Performance Plan during the year prior to the year that includes
the effective date of termination, or (2) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Internal Revenue Code of 1986, as amended (“Code”) (US$245,000 in
2011) (“Separation Pay Limitation”), the amount of such payment in excess of the Separation Pay Limitation shall be withheld by the Company and paid on the six month anniversary of the Employee’s termination date or, if
earlier, the Employee’s date of death. 
 2. All references to “Twelve Months Severance Compensation,” including those in
Sections 5(c)(i) and 5(f), shall be changed to refer to “Severance Compensation.” 

  
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 3. Section 6(a)(v) of the Agreement shall be amended and restated as follows: 

(v) “Change of Control Severance” means an amount equal to (a) three (3) 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,
(3) the amount of employer contributions contributed to the Employee’s account for the most recent plan year before the termination date, under Administaff Retirement Services (ARS) 401k Plan or any successor plan, and (4) the amount
paid by the Company for welfare benefits on behalf of the Employee for the most recent 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. 
 4. A new Section 6(d) shall be added as follows: 

(d) Excise Tax Payment. 
 (i) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any payment or distribution by the Company to or for the benefit of the Employee (whether paid or
payable or distributed or distributable pursuant to the terms of this Agreement or otherwise) (a “Payment”) would, absent the provisions of this Section 6(d), be subject to the excise tax imposed by Section 4999 of the
U.S. Tax Code, then the Payment shall be reduced to equal the maximum amount that may be paid to the Employee without triggering the application of the excise tax (a “Cutback”). 

(ii) All determinations required to be made under this Section 6(d), shall be made by a certified public accounting
firm designated by the Board (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and the Employee. If the Accounting Firm is serving as accountant or auditor for the individual, entity or
group affecting the Change in Control, the Boards of Directors of the Company and Golden Star shall appoint another nationally recognized accounting firm to make the determinations required hereunder (which accounting firm shall then be referred to
as the Accounting Firm hereunder). All fees and expenses of the Accounting Firm shall be borne solely by the Company. The Employee agrees to report all Payments in a manner consistent with the determinations made by the Accounting Firm. Employee
shall be entitled, to the extent permitted by Section 409A of the Code and the regulations and other guidance issued thereunder (“Section 409A”) and other applicable law and in a manner that is not adverse to the Company, to
elect, no later than 5 days following the receipt by Employee of the detailed supporting calculations referred to above, to reduce or modify the Payments so that, using the assumptions of the Accounting Firm, no Payment shall be treated as an
“excess parachute payment.” Unless Employee shall have given prior written notice to the Company specifying a different order of Payments to be reduced, any Payments or acceleration to be reduced shall be determined in a manner that
has the least economic cost to Employee, on an after-tax basis, and to the extent the economic cost is equivalent, such Payments shall be reduced in the inverse order of when the Payments or acceleration would have been made or provided to Employee
until the reduction specified herein is achieved. Employee may specify the order of reduction of the Payments or acceleration only to the extent that doing so does not directly or indirectly alter the time or method of payment of any amount
that is deferred compensation subject to (and not exempt from) Section 409A.

  
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 5. Except as otherwise expressly provided by this Amendment, all of the terms, conditions and provisions of
the Agreement shall remain the same. This Amendment shall be governed by and construed under the laws of the State of Colorado, without reference to principles of conflict of laws. This Amendment may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 [Signature page
follows] 

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

 

							
				
	By:	 	 /s/ John A. Labate
	 		 	 /s/ Jennifer Hurley

	Name:	 	John A. Labate	 	        	 	Witness
	Title:	 	 Senior Vice President
 and
Chief Financial Officer
	 		 	
				
		 	 /s/ Thomas G. Mair
	 		 	 /s/ Jennifer Hurley

		 	Thomas G. Mair	 		 	Witness

  

			
	 Acknowledged and Consented to by:
  

GOLDEN STAR RESOURCES LTD.

		
	By:	 	 /s/ Christopher M. T. Thompson

	Name:	 	Christopher M. T. Thompson
	Title:	 	Chairman

  
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