Document:

CALL
      OPTION AGREEMENT

     

    This
      CALL
      OPTION AGREEMENT (this “Agreement”)
      is
      made and entered into as of December 24, 2007 (the “Effective
      Date”),
      between Tao Li, a resident of the People’s Republic of China (“Purchaser”)
      and
      Yinshing David To, a resident of Hong Kong (“Seller”).
      Purchaser and Seller are also referred to herein together as the “Parties”
and
      individually as a “Party”.

     

    RECITALS

     

    WHEREAS,
      pursuant to a Share Exchange Agreement, dated as of the date hereof, among
      Discovery Technologies, Inc., a Nevada Corporation (the “Company”)
      and
      the shareholders of Green Agriculture Holding Company, a New Jersey Corporation
      (“Green”),
      the
      Company acquired 100% of the issued and outstanding capital stock of Green;
      and

     

    WHEREAS,
      Purchaser has agreed with Seller, as a condition to his continuing to provide
      services to Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. (“TechTeam”),
      a PRC
      company that is a wholly owned subsidiary of Green, as its Chairman and Chief
      Executive Officer, to enter into this Agreement; and 

     

    WHEREAS,
      Seller is the holder of 6,535,676 shares of the Company’s $0.001 par value per
      share common stock (“Common
      Stock”)
      and
      therefore, has determined that it is in his best interest to, and will receive
      benefits from, Purchaser’s performance as CEO and Chairman of TechTeam and
      entered into the Share Exchange Agreement based on the possibility of such
      benefits; and

     

    WHEREAS,
      Seller desires to grant to Purchaser an option to acquire 6,535,676 shares
      of
      the Common Stock owned by him (“Seller’s
      Shares”)
      pursuant
      to the terms and conditions set forth in this Agreement. 

     

    NOW,
      THEREFORE, the Parties, in consideration of the foregoing premises and the
      terms, covenants and conditions set forth below, and other good and valuable
      consideration, receipt of which is acknowledged, hereby agree as
      follows:

     

    AGREEMENT

     

    1.
       DEFINITIONS;
      INTERPRETATION.

     

    1.1. Terms
      Defined in this Agreement.
      The
      following terms when used in this Agreement shall have the following
      definitions:

     

    “Bankruptcy
      Law”
means
      any Law of any jurisdiction relating to bankruptcy, insolvency, corporate
      reorganization, company arrangement, civil rehabilitation, special liquidation,
      moratorium, readjustment of debt, appointment of a conservator, trustee or
      receiver, or similar debtor relief.

     

    “Business
      Day”
means
      any day on which commercial banks are required to be open in Hong
      Kong.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    “Call
      Price”
means,
      with respect to any exercise of the Call Right, $0.001 per share of the Seller’s
      Shares subject to any Call Exercise Notice.

     

    “Conditions”
means
      Conditions 1 through 4, as defined below, in the aggregate.

     

    “Condition
      1”
means
      the entry by Purchaser and TechTeam into a binding employment agreement for
      a
      term of not less than five years for Purchaser to serve as TechTeam’s Chief
      Executive Officer and Chairman of its Board of Directors.

     

    “Condition
      2”
means
      the United States Securities and Exchange Commission declaring a registration
      statement filed by the Company under the Securities Act of 1933 effective,
      or,
      investors who purchased Common Stock from the Company pursuant to the Securities
      Purchase Agreement dated as of December 24, 2007 being able to sell their Common
      Stock under Rule 144, as then effective under the U.S. Securities Act of 1933,
      as amended.

     

    “Condition
      3”
means
      TechTeam achieving not less than $7,500,000 in pre-tax profits, as determined
      under United States Generally Accepted Accounting Principles consistently
      applied (“US GAAP”) for the fiscal year ending June 30, 2008.

     

    “Condition
      4”
means
      TechTeam achieving not less than $4,000,000 in pre tax profits, as determined
      under US GAAP for the six months ended December 31, 2008.

     

    “Government
      Authority”
means
      any: (a) nation, principality, state, commonwealth, province, territory, county,
      municipality, district or other jurisdiction of any nature; (b) federal, state,
      local, municipal, foreign or other government; (c) governmental or quasi
      governmental authority of any nature (including any governmental division,
      subdivision, department, agency, bureau, branch, office, commission, council,
      board, instrumentality, officer, official, representative, organization, unit,
      body or Person and any court or other tribunal); or (d) individual, Person
      or
      body exercising, or entitled to exercise, any executive, legislative, judicial,
      administrative, regulatory, police, military or taxing authority or power of
      any
      nature.

     

    “Law”
means
      any federal, state, local, municipal, foreign or other law, statute,
      legislation, constitution, principle of common law, resolution, ordinance,
      code,
      order, edict, decree, proclamation, treaty, convention, rule, regulation,
      permit, ruling, directive, pronouncement, requirement (licensing or otherwise),
      specification, determination, decision, opinion or interpretation that is,
      has
      been or may in the future be issued, enacted, adopted, passed, approved,
      promulgated, made, implemented or otherwise put into effect by or under the
      authority of any Government Authority.

     

    “Person”
means
      any individual, firm, company, corporation, limited liability company,
      unincorporated association, partnership, trust, joint venture, governmental
      authority or other entity, and shall include any successor (by merger or
      otherwise) of such entity.

     

    1.2. Interpretation.

     

    (a) Certain
      Terms.
      The
      words “hereof,” “herein,” “hereunder” and similar words refer to this Agreement
      as a whole and not to any particular provision of this Agreement. The term
      “including” is not limited and means “including without
      limitation.”

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (b) Section References;
      Titles and Subtitles.
      Unless
      otherwise noted, all references to Sections herein are to Sections of this
      Agreement. The titles, captions and headings of this Agreement are inserted
      for
      convenience of reference only and are not intended to be a part of or to affect
      the meaning or interpretation of this Agreement.

     

    (c) Reference
      to Entities, Agreements, Statutes.
      Unless
      otherwise expressly provided herein, (i) references to a Person include its
      successors and permitted assigns, (ii) references to agreements (including
      this Agreement) and other contractual instruments shall be deemed to include
      all
      subsequent amendments, restatements and other modifications
      thereto
      or supplements thereof and (iii) references to any statute or regulation
      are to be construed as including all statutory and regulatory provisions
      consolidating, amending, replacing, supplementing or interpreting such statute
      or regulation.

     

    2.
       CALL
      RIGHT.

     

    2.1. Call
      Right.
      Purchaser shall have, during the Exercise Period (as defined below), and when
      a
      Condition is met, the right and option to purchase from the Seller, and upon
      the
      exercise of such right and option the Seller shall have the obligation to sell
      to Purchaser, a portion of the Seller’s Shares identified in the Call Exercise
      Notice (the “Call
      Right”).
      Purchaser shall be permitted to purchase, and Seller shall be obligated to
      sell,
      the following numbers of Seller’s Shares upon the attainment of the following
      Conditions:

    

      
        	
                Condition

              	 	
                Number
                  of Seller’s Shares as to 

                which
                  there is a Call Right

              	 
	 	 	 	 
	
                Condition
                  1

              	 	 	
                3,267,838

              	 
	 	 	 	 	 
	
                Condition
                  2

              	 	 	
                1,089,279

              	 
	 	 	 	 	 
	
                Condition
                  3

              	 	 	
                1,089,279

              	 
	 	 	 	 	 
	
                Condition
                  4

              	 	 	
                1,089,280

              	 

      

    

     

    2.2. Call
      Period.
      The
      Call Right shall be exercisable by Purchaser, by delivering a Call Exercise
      Notice at any time during the period (the “Exercise
      Period”)
      commencing on the date hereof and ending at 6:30 p.m. (New York time) on the
      fifth anniversary date hereof (such date or the earlier expiration of the Call
      Right is referred to herein as the “Expiration
      Date”).
      

     

    2.3. Exercise
      Process.
      In
      order to exercise the Call Right during the Exercise Period, Purchaser shall
      deliver to the applicable Seller, a written notice of such exercise
      substantially in the form attached hereto as Appendix A
      (a
“Call
      Exercise Notice”)
      to
      such address or facsimile number set forth therein. The Call Exercise Notice
      shall indicate the number of Seller’s Shares as to which Purchaser is then
      exercising its Call Right and the aggregate Call Price. Provided the Call
      Exercise Notice is delivered in accordance with Section 6.4 to such Seller
      on or
      prior to 6:30 p.m. (New York time) on a Business Day, the date of exercise
      (the
“Exercise
      Date”)
      of the
      Call Right shall be the date of such delivery of such Call Exercise Notice.
      In
      the event the Call Exercise Notice is delivered after 6:30 p.m. (Hong Kong
      time)
      on any day or on a date which is not a Business Day, the Exercise Date shall
      be
      deemed to be the first Business Day after the date of such delivery of such
      Call
      Exercise Notice. The delivery of a Call Exercise Notice in accordance herewith
      shall constitute a binding obligation (a) on the part of Purchaser to purchase,
      and (b) on the part of such Seller to sell, the Seller’s Shares subject to such
      Call Exercise Notice in accordance with the terms of this
      Agreement.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    2.4. Call
      Price.
      If the
      Call Right is exercised pursuant to this Section 2, as payment for the Seller’s
      Shares being purchased by Purchaser pursuant to the Call Right, Purchaser shall
      pay the aggregate Call Price to the Seller (but no later than fifteen (15)
      Business Days of the Exercise Date).

     

    2.5 Cashless
      Exercise.
      In lieu
      of delivery of the Call Price, Purchaser shall have the right, at its option,
      from time to time or times during the Exercise Period, Purchaser
      may satisfy its obligation to pay the Call Price through a “cashless exercise,”
in which Purchaser shall be entitled to purchase the Seller’s Shares as
      determined as follows:

     

    
      	 	
              X
                =
                Y [(A-B)/A]

            
	
              where:

            	 
	 	
              X
                =
                the number of Seller’s Shares to be sold to Purchaser.

            
	 	 
	 	
              Y
                =
                the number of Seller’s Shares with respect to which the Call Right is
                being exercised.

            
	 	 
	 	
              A
                =
                the arithmetic average of the Closing Prices for the five Trading
                Days
                immediately prior to (but not including) the Exercise
                Date.

            
	 	 
	 	
              B
                =
                the Call Price.

            

    

     

    2.5. Delivery
      of the Shares.
      Upon the
      receipt of a Call Exercise Notice, the applicable Seller shall deliver, or
      take
      all steps necessary to cause to be delivered, the Seller’s Shares being
      purchased pursuant to such Call Exercise Notice. 

     

    3.
       ENCUMBRANCES;
      TRANSFERS, SET-OFF AND WITHHOLDINGS.

     

    3.1.
       Encumbrances.
      Upon
      exercise of the Call Right, such Seller’s Shares being purchased shall be sold,
      transferred and delivered to Purchaser free and clear of any claim, pledge,
      charge, lien, preemptive rights, restrictions on transfers (except as required
      by securities laws of the United States), proxies, voting agreements and any
      other encumbrance whatsoever. 

     

    3.2 Transfers.
      Prior
      to the Expiration Date, Seller shall continue to own, free and clear of any
      hypothecation, pledge, mortgage or other encumbrance, except pursuant to this
      Agreement and except in favor of the Collateral Agent (as defined below) for
      the
      benefit of the Purchaser, such amount of the Seller’s Shares as may be required
      from time to time to in order for Purchaser to exercise its Call Right in full.
      

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    3.3.
       Set-off.
      Purchaser shall be absolutely entitled to receive all Seller’s Shares subject to
      the exercise of a Call Right, and for the purposes of this Agreement, Seller
      hereby waives, as against Purchaser, all rights of set-off or counterclaim
      that
      would or might otherwise be available to such Seller.

     

    3.4 Escrow
      of Seller’s Shares.
      

     

    (a) Upon
      execution of this Agreement, Seller shall deliver to Guzov Ofsink, LLC, as
      Collateral Agent (the “Collateral
      Agent”),
      certificates representing Seller’s Shares. The certificates representing the
      Seller’s Shares (together with duly executed stock powers in blank) shall be
      held by the Collateral Agent. 

     

    (b) Upon
      receipt of a Call Exercise Notice, the Collateral Agent shall promptly deliver
      the Seller’s Shares being purchased pursuant to such Call Exercise Notice in
      accordance with the instructions set forth therein. In the event that the
      Collateral Agent shall receive notice from the Parties that the Conditions
      have
      not been met, the Seller’s Shares shall be distributed in accordance with their
      instructions. 

     

    4.
       REPRESENTATIONS
      AND WARRANTIES.

     

    4.1. Representations
      and Warranties by Seller.
      Seller
      represents and warrants to Purchaser, that:

     

    (a)
       Due
      Authorization.
      The
      execution and delivery of this Agreement and the consummation of the
      transactions contemplated hereunder to be carried out by it have been duly
      authorized by all necessary action on the part of Seller. This Agreement, and
      all agreements and documents executed and delivered pursuant to this Agreement,
      constitute valid and binding obligations of such Seller, enforceable against
      such Seller in accordance with its terms, subject to applicable Bankruptcy
      Laws
      and other laws or equitable principles of general application affecting the
      rights of creditors generally.

     

    (b)
       No
      Conflicts.
      The
      execution or delivery of this Agreement by such Seller nor the fulfillment
      or
      compliance by such Seller with any of the terms hereof shall, with or without
      the giving of notice and/or the passage of time, (i) conflict with, or result
      in
      a breach of the terms, conditions or provisions of, or constitute a default
      under, (A) the organizational or charter documents of the Seller or (B) any
      contract or any judgment, decree or order to which Seller is subject or by
      which
      the Seller is bound, or (ii) require any consent, license, permit,
      authorization, approval or other action by any Person or Government Authority
      which has not yet been obtained or received. The execution, delivery and
      performance of this Agreement by such Seller or compliance with the provisions
      hereof by the Seller does not, and shall not, violate any provision of any
      Law
      to which the Seller is subject or by which it is bound.

     

    (c) No
      Actions.
      There
      are no lawsuits, actions (or to the best knowledge of such Seller,
      investigations), claims or demands or other proceedings pending or, to the
      best
      of the knowledge of such Seller, threatened against the Seller which, if
      resolved in a manner adverse to the Seller, would adversely affect the right
      or
      ability of the Seller to carry out its obligations set forth in this
      Agreement.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (d) Title.
      Seller
      owns the Seller’s Shares free and clear of any claim, pledge, charge, lien,
      preemptive rights, restrictions on transfers, proxies, voting agreements and
      any
      other encumbrance whatsoever, except as contemplated by this Agreement. The
      Seller has not entered into or is a party to any agreement that would cause
      the
      Seller to not own such Seller’s Shares free an clean of any encumbrance, except
      as contemplated by this Agreement.

     

    4.2 Representations
      and Warranties by Purchaser.
      Purchaser represents and warrants to the Sellers, that:

     

    (a)
       Due
      Authorization.
      The
      execution and delivery of this Agreement and the consummation of the
      transactions contemplated hereunder to be carried out by it have been duly
      authorized by all necessary action on the part of Purchaser. This Agreement,
      and
      all agreements and documents executed and delivered pursuant to this Agreement,
      constitute valid and binding obligations of Purchaser, enforceable against
      Purchaser in accordance with its terms, subject to applicable Bankruptcy Laws
      and other laws or equitable principles of general application affecting the
      rights of creditors generally.

     

    (b)
       No
      Conflicts.
      The
      execution or delivery of this Agreement by Purchaser nor the fulfillment or
      compliance by Purchaser with any of the terms hereof shall, with or without
      the
      giving of notice and/or the passage of time, (i) conflict with, or result in
      a
      breach of the terms, conditions or provisions of, or constitute a default under,
      (A) the organizational or charter documents of Purchaser or (B) any contract
      or
      any judgment, decree or order to which Purchaser is subject or by which
      Purchaser is bound, or (ii) require any consent, license, permit, authorization,
      approval or other action by any Person or Government Authority which has not
      yet
      been obtained or received. The execution, delivery and performance of this
      Agreement by Purchaser or compliance with the provisions hereof by Purchaser
      does not, and shall not, violate any provision of any Law to which Purchaser
      is
      subject or by which it is bound.

     

    (c) No
      Actions.
      There
      are no lawsuits, actions (or to the best knowledge of Purchaser,
      investigations), claims or demands or other proceedings pending or, to the
      best
      of the knowledge of Purchaser, threatened against Purchaser which, if resolved
      in a manner adverse to Purchaser, would adversely affect the right or ability
      of
      Purchaser to carry out its obligations set forth in this Agreement.

     

    5. EVENTS
      OF
      DEFAULT AND TERMINATION

     

    5.1 Events
      of Default.
      The
      occurrence at any time with respect to a Party (the “Defaulting
      Party”)
      of any
      of the following events shall constitute an event of default (an “Event
      of Default”)
      with
      respect to such party:

     

    (a) Failure
      to Pay or Deliver.
      The
      failure by a Party to make, when due, any payment under this Agreement or
      deliver the Seller’s Shares in accordance with this Agreement, if such failure
      is not remedied on or before the third Business Day after notice of such failure
      is given to the Defaulting Party;

     

    (b) Breach
      of Agreement.
      The
      failure by a Party to comply with or perform any agreement, covenant or
      obligation (other than a failure described in Section 5.1(a)) to be complied
      with or performed by such Party in accordance with this Agreement if such
      failure is not remedied on or before the tenth Business Day after notice of
      such
      failure is given to the Defaulting Party; or

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (c) Bankruptcy.
      A Party
      (1) is dissolved (other than pursuant to a consolidation, amalgamation or
      merger); (2) becomes insolvent or is unable to pay its debts or fails or admits
      in writing its inability generally to pay its debts as they become due; (3)
      makes a general assignment, arrangement or composition with or for the benefit
      of its creditors; (4) institutes or has instituted against it a proceeding
      seeking a judgment of insolvency or bankruptcy or any relief under any
      Bankruptcy Law, or a petition is presented for its winding-up or liquidation,
      and in the case of any such proceeding or petition instituted or presented
      against it, such proceeding or petition (A) results in a judgment of insolvency
      or bankruptcy or the entry of an order for relief or the making of an order
      for
      its winding-up or liquidation or (B) is not dismissed, discharged, stayed or
      restrained in each case within 30 days of the institution or presentation
      thereof; (5) has a resolution passed for its winding-up, official management
      or
      liquidation (other than pursuant to a consolidation, amalgamation or merger);
      (6) seeks or becomes subject to the appointment of an administrator, provisional
      liquidator, conservator, receiver, trustee, custodian or other similar official
      for it or for all or substantially all it assets; (7) has a secured party take
      possession of all or substantially all its assets or has a distress, execution,
      attachment, sequestration or other legal process levied, enforced or sued on
      or
      against all or substantially all its assets and such secured party maintains
      possession, or any such process is not dismissed, discharged, stayed or
      rescinded, in each case within 30 days thereafter; (8) causes or is subject
      to
      any event with respect to it which, under the applicable Law, has an analogous
      effect to any of the events described in clauses (1) through (7); or (9) takes
      any action in furtherance of, or indicating its consent to, approval of, or
      acquiescence in, any of the foregoing acts.

     

    5.2 Termination.
      If at
      any time an Event of Default with respect to a Party has occurred and is
      continuing, the other party may terminate this Agreement and deem the Expiration
      Date to have occurred by giving written notice to the Defaulting Party
      specifying the relevant Event of Default.

     

    6.
       MISCELLANEOUS.

     

    6.1. Governing
      Law; Jurisdiction.
      This
      Agreement shall be construed according to, and the rights of the Parties shall
      be governed by, the laws of the State of New York, without reference to any
      conflict of laws principle that would cause the application of the laws of
      any
      jurisdiction other than New York. Each Party hereby irrevocably submits to
      the
      exclusive jurisdiction of the federal and state courts sitting in the City
      of
      New York, Borough of Manhattan, for the adjudication of any dispute hereunder
      or
      in connection herewith, and agrees not to assert in any suit, action or
      proceeding, any claim that it is not personally subject to the jurisdiction
      of
      such court, that such, suit, action or proceeding is brought in an inconvenient
      forum, or that the venue of such suit, action or proceeding is
      improper.

     

    6.2. Successors
      and Assigns.
      Each of
      the Parties shall not assign this Agreement or any rights or obligations
      hereunder without the prior written consent of the other Party. The provisions
      hereof shall inure to the benefit of, and be binding upon, the successors and
      permitted assigns of the Parties.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    6.3. Entire
      Agreement; Amendment.
      This
      Agreement constitutes the full and entire understanding and agreement between
      the Parties with regard to the subject matter hereof. Any term of this Agreement
      may be amended only with the written consent of each Party.

     

    6.4. Notices
      and Other Communications.
      Any and
      all notices, requests, demands and other communications required or otherwise
      contemplated to be made under this Agreement shall be in writing and shall
      be
      provided by one or more of the following means and shall be deemed to have
      been
      duly given (a) if delivered personally, when received, (b) if
      transmitted by facsimile, on the date of transmission with receipt of a
      transmittal confirmation, or (c) if by an internationally recognized
      overnight courier service, one Business Day after deposit with such courier
      service. All such notices, requests, demands and other communications shall
      be
      addressed as follows:

     

    To
      Purchaser at: 

    3rd
      Floor,
      Borough A

    Block
      A.
      No.181, South Taibai Road

    Xian,
      Shaanxi Province, 

    People’s
      Republic of China 710065

    Tel:
      (011)-86-29-88266386 

    

    To
      Seller
      at: 

    Green
      Agriculture Holding Corporation.

    45
      Old
      Millstone Drive, Unit 6,

    East
      Windsor, NJ 08520

    Attn:
      Mr.
      Yinshing David To

     

    or
      to
      such other address or facsimile number as a party may have specified to the
      other parties in writing delivered in accordance with this Section
      6.4.

     

    6.5. Delays
      or Omissions.
      No
      delay or omission to exercise any right, power or remedy accruing to any Person
      hereunder, upon any breach or default under this Agreement, shall impair any
      such right, power or remedy nor shall it be construed to be a waiver of any
      such
      breach or default, or an acquiescence therein, or of or in any similar breach
      or
      default thereafter occurring; nor shall any waiver of any single breach or
      default be deemed a waiver of any other breach or default theretofore or
      thereafter occurring. Any waiver, permit, consent or approval of any kind or
      character on the part of any Person hereunder of any breach or default under
      this Agreement, or any waiver on the part of any Person of any provisions or
      conditions of this Agreement, must be in writing and shall be effective only
      to
      the extent specifically set forth in such writing and signed by the waiving
      or
      consenting Person.

     

    6.6. Severability.
      If any
      provision of this Agreement is found to be invalid or unenforceable, then such
      provision shall be construed, to the extent feasible, so as to render the
      provision enforceable and to provide for the consummation of the transactions
      contemplated hereby on substantially the same terms as originally set forth
      herein, and if no feasible interpretation would save such provision, it shall
      be
      severed from the remainder of this Agreement, which shall remain in full force
      and effect unless the severed provision is essential to the rights or benefits
      intended by the Parties. In such event, the Parties shall use best efforts
      to
      negotiate, in good faith, a substitute, valid and enforceable provision or
      agreement which most nearly affects the Parties’ intent in entering into this
      Agreement.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    6.7 Construction.
      The
      language used in this Agreement will be deemed to be the language chosen by
      the
      Parties to express their mutual intent, and no rules of strict construction
      will
      be applied against any Party.

     

    6.8. Further
      Assurances.
      The
      Parties shall perform such acts, execute and deliver such instruments and
      documents and do all other such things as may be reasonably necessary to effect
      the transactions contemplated hereby. 

     

    6.9. Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      an original, but all of which together shall constitute one instrument.
      Execution and delivery of this Agreement by exchange of facsimile copies bearing
      the facsimile signature of a Party shall constitute a valid and binding
      execution and delivery of this Agreement by such Party.

     

    [remainder
      of page intentionally blank]

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Parties have executed this Agreement as of the date first
      written above.

    
      	 	 	 
	 	 	
              Purchaser:

            
	 
 	 
 	 
 
	
            	
            	/s/
              Tao
              Li
	 	
              

              Tao
                Li

            

    

     

    
      	 	 	 
	 	 	
              Seller:

            
	 
 	 
 	 
 
	
            	
            	
              /s/
                Yinshing David To

            
	 	
              

              Yinshing
                David To

            

      Acknowledged
        and agreed to:

       

      
        	
                Collateral
                  Agent:

                
                  GUZOV
                    OFSINK, LLC, as Collateral Agent

                

              	 	 	 
	 	 	 	 
	 	 	 	 
	By:
 /s/
                Darren Ofsink	 	 	
              
	
                
                  

                

                Name:
                  Darren Ofsink

                Title:
                  Partner

              	 	 	
              

      

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

    

    APPENDIX
      A

    Form
      of Exercise Notice

     

    [Date]

    [________________]
      (the “Seller”)

    [________________]

    [________________]

    Attention:
      [_______]

    

    
      	 	
              Re:

            	
              Call
                Option Agreement dated December
                24, 2007 (the “Call
                Option Agreement”),
                between Tao Li (“Purchaser”)
                and Yinshing David To (“Seller”).

            

    

    

    Dear
      Sir:

    

    In
      accordance with Section 2.3 of the Call Option Agreement, Purchaser hereby
      provides this notice of exercise of the Call Right in the manner specified
      below:

    

    
      	
            	(a)	
              The
                Purchaser hereby exercises its Call Rights with respect to Seller’s Shares
                pursuant to the Call Option
                Agreement.

            

    

     

    
      	
            	(c)	
              The
                Purchaser intends that payment of the Call Exercise Price shall be
                made as
                (check one):

            

    

     

    _______
      “Cash Exercise” 

     

    _______
      “Cashless Exercise” 

     

    
      	
            	(d)	
              If
                the Purchaser has elected a Cash Exercise, the Purchaser shall pay
                the sum
                of $____________ to the Seller.

            

    

     

    
      	
            	(e)	
              Pursuant
                to this exercise, the Seller shall deliver to _______________ Seller’s
                Shares in accordance with the instructions attached
                hereto.

            

    

     

    
      	
              Dated:
                _______________, ______

            	 
	 	 
	 	
              

              Tao
                Li

            

    

    

    
      
        
        

      

      
        11ESCROW AGREEMENT

 

THIS AGREEMENT is made as of the 21st day of December, 2005

 

AMONG:

 

	
             
 	
            BC Moly Ltd.
 

 (the “Issuer”)

 

AND:

	
             
 	
            PACIFIC CORPORATE TRUST COMPANY
 

 (the “Escrow Agent”)

 

AND:

 

	
             
 	
            EACH OF THE UNDERSIGNED SECURITYHOLDERS OF THE ISSUER
 

	
             
 	
            (a “Securityholder” or “you”)
 

 

(collectively, the “Parties”)

 

This Agreement is being entered into by the Parties under National Policy 46-201 Escrow for Initial Public Offerings (the Policy) in connection with the proposed distribution (the IPO), by the Issuer, an emerging issuer, of [describe securities] by prospectus and/or by certain Securityholders, namely [names of Securityholders], of [specify number of securities distributed by each Securityholder and what percentage of each Securityholder’s securities that number represents] (the permitted secondary offering).

 

For good and valuable consideration, the Parties agree as follows:

 

	
            PART 1 
 	
               ESCROW
 

 

	
            1.1
 	
            Appointment of Escrow Agent
 

 

The Issuer and the Securityholders appoint the Escrow Agent to act as escrow agent under this Agreement.  The Escrow Agent accepts the appointment.

 

	
            1.2
 	
            Deposit of Escrow Securities in Escrow 
 

 

(1)           You are depositing the securities (escrow securities) listed opposite your name in Schedule “A” with the Escrow Agent to be held in escrow under this Agreement.  You will immediately deliver or cause to be delivered to the Escrow Agent any share certificates or other evidence of these securities which you have or which you may later receive. 

 

	
            (2)
 	
            If you receive any other securities (additional escrow securities):
 

 

	
            (a)
 	
            as a dividend or other distribution on escrow securities;
 

 

	
            (b)
 	
            on the exercise of a right of purchase, conversion or exchange attaching to escrow securities, including securities received on conversion of special warrants;
 

 

	
            (c)
 	
            on a subdivision, or compulsory or automatic conversion or exchange of escrow securities; or
 

 

	
            (d)
 	
            from a successor issuer in a business combination, if Part 6 of this Agreement applies,
 

 

you will deposit them in escrow with the Escrow Agent.  You will deliver or cause to be delivered to the Escrow Agent any share certificates or other evidence of those additional escrow securities.  When this Agreement refers to escrow securities, it includes additional escrow securities. 

 

(3)        You will immediately deliver to the Escrow Agent any replacement share certificates or other evidence of additional escrow securities issued to you.

 

	
            1.3
 	
            Direction to Escrow Agent
 

 

The Issuer and the Securityholders direct the Escrow Agent to hold the escrow securities in escrow until they are released from escrow under this Agreement. 

 

	
            PART 2
 	
            RELEASE OF ESCROW SECURITIES
 

 

	
            2.1
 	
            Release Schedule for an Emerging Issuer
 

 

The escrow securities will be released as follows:

 

	
            On the date that the Issuer has both completed its IPO and the Issuer’s securities are listed on a Canadian exchange (the listing date)
 	
            1/10 of your escrow securities
 
	
            6 months after the listing date
 	
            1/6 of your remaining escrow securities
 
	
            12 months after the listing date
 	
            1/5 of your remaining escrow securities
 
	
            18 months after the listing date
 	
            1/4 of your remaining escrow securities
 
	
            24 months after the listing date
 	
            1/3 of your remaining escrow securities
 
	
            30 months after the listing date
 	
            1/2 of your remaining escrow securities
 
	
            36 months after the listing date
 	
            your remaining escrow securities
 

 

 

	
            2.2
 	
            Additional escrow securities
 

 

If you acquire additional escrow securities, those securities will be added to the securities already in escrow, to increase the number of remaining escrow securities.  After that, all of the escrow securities will be released in accordance with the applicable release schedule in the tables above.  

 

	
            2.3
 	
            Delivery of Share Certificates for Escrow Securities
 

 

The Escrow Agent will send to each Securityholder any share certificates or other evidence of that Securityholder’s escrow securities in the possession of the Escrow Agent released from escrow as soon as reasonably practicable after the release.  

 

	
            2.4
 	
            Replacement Certificates 
 

 

If, on the date a Securityholder’s escrow securities are to be released, the Escrow Agent holds a share certificate or other evidence representing more escrow securities than are to be released, the Escrow Agent will deliver the share certificate or other evidence to the Issuer or its transfer agent and request replacement share certificates or other evidence.  The Issuer will cause replacement share certificates or other evidence to be prepared and delivered to the Escrow 

 

Agent.  After the Escrow Agent receives the replacement share certificates or other evidence, the Escrow Agent will send to the Securityholder or at the Securityholder’s direction, the replacement share certificate or other evidence of the escrow securities released.  The Escrow Agent and Issuer will act as soon as reasonably practicable.

 

	
            2.5
 	
            Release upon Death
 

 

(1)           If a Securityholder dies, the Securityholder’s escrow securities will be released from escrow.  The Escrow Agent will deliver any share certificates or other evidence of the escrow securities in the possession of the Escrow Agent to the Securityholder’s legal representative.

 

(2)           Prior to delivery the Escrow Agent must receive:

 

(a)           a certified copy of the death certificate; and

 

(b)           any evidence of the legal representative’s status that the Escrow Agent may reasonably require.

 

	
            PART 3
 	
            EARLY RELEASE ON CHANGE OF ISSUER STATUS
 

 

	
            3.1
 	
            Becoming an Established Issuer
 

 

If the Issuer is an emerging issuer on the date of this Agreement and, during this Agreement, the Issuer:

 

	
            (a)
 	
            lists its securities on The Toronto Stock Exchange Inc.;
 

 

	
            (b)
 	
            becomes a TSX Venture Exchange Inc. (TSX Venture) Tier 1 issuer; or
 

 

(c)           lists or quotes its securities on an exchange or market outside Canada that its “principal regulator” under National Policy 43-201 Mutual Reliance Review System for Prospectuses and Annual Information Forms (in Quebec under Staff Notice, Mutual Reliance Review System for Prospectuses and Annual Information Forms) or, if the Issuer has only filed its IPO prospectus in one jurisdiction, the securities regulator in that jurisdiction, is satisfied has minimum listing requirements at least equal to those of TSX Venture Tier 1,

 

then the Issuer becomes an established issuer.  

 

	
            3.2
 	
            Release of Escrow Securities
 

 

(1)           When an emerging issuer becomes an established issuer, the release schedule for its escrow securities changes.

 

(2)           If an emerging issuer becomes an established issuer 18 months or more after its listing date, all escrow securities will be released immediately.

 

(3)           If an emerging issuer becomes an established issuer within 18 months after its listing date, all escrow securities that would have been released to that time, if the Issuer was an established issuer on its listing date, will be released immediately.  Remaining escrow securities will be released in equal installments on the day that is 6 months, 12 months and 18 months after the listing date.

 

	
            3.3
 	
            Filing Requirements
 

 

 

 

Escrow securities will not be released under this Part until the Issuer does the following:

 

(a)           at least 20 days before the date of the first release of escrow securities under the new release schedule, files with the securities regulators in the jurisdictions in which it is a reporting issuer 

 

	
            (i)
 	
            a certificate signed by a director or officer of the Issuer authorized to sign stating
 

 

(A)           that the Issuer has become an established issuer by satisfying one of the conditions in section 3.1 and specifying the condition, and

 

(B)           the number of escrow securities to be released on the first release date under the new release schedule, and

 

(ii)           a copy of a letter or other evidence from the exchange or quotation service confirming that the Issuer has satisfied the condition to become an established issuer; and

 

(b)           at least 10 days before the date of the first release of escrow securities under the new release schedule, issues and files with the securities regulators in the jurisdictions in which it is a reporting issuer a news release disclosing details of the first release of the escrow securities and the change in the release schedule, and sends a copy of such filing to the Escrow Agent. 

 

	
            3.4
 	
            Amendment of Release Schedule
 

 

The new release schedule will apply 10 days after the Escrow Agent receives a certificate signed by a director or officer of the Issuer authorized to sign  

 

(a)           stating that the Issuer has become an established issuer by satisfying one of the conditions in section 3.1 and specifying the condition; 

 

	
            (b)
 	
            stating that the release schedule for the Issuer’s escrow securities has changed;
 

 

(c)           stating that the Issuer has issued a news release at least 10 days before the first release date under the new release schedule and specifying the date that the news release was issued; and 

 

	
            (d)
 	
            specifying the new release schedule.
 

 

	
            PART 4
 	
            DEALING WITH ESCROW SECURITIES
 

 

	
            4.1
 	
            Restriction on Transfer, etc.
 

 

Unless it is expressly permitted in this Agreement, you will not sell, transfer, assign, mortgage, enter into a derivative transaction concerning, or otherwise deal in any way with your escrow securities or any related share certificates or other evidence of the escrow securities.  If a Securityholder is a private company controlled by one or more principals (as defined in section 3.5 of the Policy) of the Issuer, the Securityholder may not participate in a transaction that results in a change of its control or a change in the economic exposure of the principals to the risks of holding escrow securities.

 

 

	
            4.2
 	
            Pledge, Mortgage or Charge as Collateral for a Loan
 

 

You may pledge, mortgage or charge your escrow securities to a financial institution as collateral for a loan, provided that no escrow securities or any share certificates or other evidence of escrow securities will be transferred or delivered by the Escrow Agent to the financial institution for this purpose.  The loan agreement must provide that the escrow securities will remain in escrow if the lender realizes on the escrow securities to satisfy the loan.

 

	
            4.3
 	
            Voting of Escrow Securities
 

 

You may exercise any voting rights attached to your escrow securities. 

 

	
            4.4
 	
            Dividends on Escrow Securities
 

 

You may receive a dividend or other distribution on your escrow securities, and elect the manner of payment from the standard options offered by the Issuer.  If the Escrow Agent receives a dividend or other distribution on your escrow securities, other than additional escrow securities, the Escrow Agent will pay the dividend or other distribution to you on receipt.

 

	
            1.0
 	
            Exercise of Other Rights Attaching to Escrow Securities
 

 

You may exercise your rights to exchange or convert your escrow securities in accordance with this Agreement. 

 

	
            PART 5
 	
            PERMITTED TRANSFERS WITHIN ESCROW
 

 

	
            5.1
 	
            Transfer to Directors and Senior Officers
 

 

(1)           You may transfer escrow securities within escrow to existing or, upon their appointment, incoming directors or senior officers of the Issuer or any of its material operating subsidiaries, if the Issuer’s board of directors has approved the transfer.

 

	
            (2)
 	
            Prior to the transfer the Escrow Agent must receive:
 

 

(a)           a certified copy of the resolution of the board of directors of the Issuer approving the transfer;  

 

(b)           a certificate signed by a director or officer of the Issuer authorized to sign, stating that the transfer is to a director or senior officer of the Issuer or a material operating subsidiary and that any required approval from the Canadian exchange the Issuer is listed on has been received; 

 

	
            (c)
 	
            an acknowledgment in the form of Schedule “B” signed by the transferee;
 

 

(d)           copies of the letters sent to the securities regulators described in subsection (3) accompanying the acknowledgement; and

 

(e)           a transfer power of attorney, completed and executed by the transferor in accordance with the requirements of the Issuer’s transfer agent.

 

(3)           At least 10 days prior to the transfer, the Issuer will file a copy of the acknowledgement with the securities regulators in the jurisdictions in which it is a reporting issuer. 

 

 

	
            1.0
 	
            Transfer to Other Principals
 

 

	
            (1)
 	
            You may transfer escrow securities within escrow:
 

 

(a)           to a person or company that before the proposed transfer holds more than 20% of the voting rights attached to the Issuer’s outstanding securities; or

 

	
            (b)
 	
            to a person or company that after the proposed transfer
 

 

(i)             will hold more than 10% of the voting rights attached to the Issuer’s outstanding securities, and 

 

(ii)           has the right to elect or appoint one or more directors or senior officers of the Issuer or any of its material operating subsidiaries.

 

	
            (2)
 	
            Prior to the transfer the Escrow Agent must receive:
 

 

	
            (a)
 	
            a certificate signed by a director or officer of the Issuer authorized to sign stating that
 

 

(i)            the transfer is to a person or company that the officer believes, after reasonable investigation, holds more than 20% of the voting rights attached to the Issuer’s outstanding securities before the proposed transfer, or

 

	
            (ii)
 	
            the transfer is to a person or company that
 

 

(A)          the officer believes, after reasonable investigation, will hold more than 10% of the voting rights attached to the Issuer’s outstanding securities, and 

 

(B)           has the right to elect or appoint one or more directors or senior officers of the Issuer or any of its material operating subsidiaries

 

after the proposed transfer, and

 

(iii)          any required approval from the Canadian exchange the Issuer is listed on has been received;

 

	
            (b)
 	
            an acknowledgment in the form of Schedule “B” signed by the transferee;
 

 

(c)           copies of the letters sent to the securities regulators accompanying the acknowledgement; and

 

(d)           a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent.

 

(3)           At least 10 days prior to the transfer, the Issuer will file a copy of the acknowledgement with the securities regulators in the jurisdictions in which it is a reporting issuer.

 

	
            2.0
 	
            Transfer upon Bankruptcy
 

 

(1)           You may transfer escrow securities within escrow to a trustee in bankruptcy or another person or company entitled to escrow securities on bankruptcy. 

 

	
            (2)
 	
            Prior to the transfer, the Escrow Agent must receive:
 

 

 

	
            (a)
 	
            a certified copy of either
 

 

	
            (i)
 	
            the assignment in bankruptcy filed with the Superintendent of Bankruptcy, or
 

 

	
            (ii)
 	
            the receiving order adjudging the Securityholder bankrupt;
 

 

	
            (b)
 	
            a certified copy of a certificate of appointment of the trustee in bankruptcy;
 

 

(c)           a transfer power of attorney, completed and executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and 

 

	
            (d)
 	
            an acknowledgment in the form of Schedule “B” signed by:
 

 

	
            (i)
 	
            the trustee in bankruptcy, or
 

 

(ii)           on direction from the trustee, with evidence of that direction attached to the acknowledgment form, another person or company legally entitled to the escrow securities.

 

(3)           Within 10 days after the transfer, the transferee of the escrow securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer. 

 

	
            5.4
 	
            Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities
 

 

(1)           You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan.

 

	
            (2)
 	
            Prior to the transfer the Escrow Agent must receive:
 

 

(a)           a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the escrow securities;

 

(b)           a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and

 

	
            (c)
 	
            an acknowledgement in the form of Schedule “B” signed by the financial institution.
 

 

(3)           Within 10 days after the transfer, the transferee of the escrow securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

 

	
            5.5
 	
            Transfer to Certain Plans and Funds
 

 

(1)           You may transfer escrow securities within escrow to or between a registered retirement savings plan (RRSP), registered retirement income fund (RRIF) or other similar registered plan or fund with a trustee, where the annuitant of the RRSP or RRIF, or the beneficiaries of the other registered plan or fund are limited to you and your spouse, children and parents, or, if you are the trustee of such a registered plan or fund, to the annuitant of the RRSP or RRIF, or a beneficiary of the other registered plan or fund, as applicable, or his or her spouse, children and parents.

 

	
            (2)
 	
            Prior to the transfer the Escrow Agent must receive:
 

 

(a)          evidence from the trustee of the transferee plan or fund, or the trustee’s agent, stating that, to the best of the trustee’s knowledge, the annuitant of the RRSP or RRIF, or the beneficiaries of the other registered plan or fund do not include any person or company other than you and your spouse, children and parents; 

 

(b)          a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and

 

	
            (c)  
 	
            an acknowledgement in the form of Schedule “B” signed by the trustee of the plan or fund.
 

 

(3)          Within 10 days after the transfer, the transferee of the escrow securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

 

	
            5.6
 	
            Effect of Transfer Within Escrow
 

 

After the transfer of escrow securities within escrow, the escrow securities will remain in escrow and released from escrow under this Agreement as if no transfer has occurred on the same terms that applied before the transfer. The Escrow Agent will not deliver any share certificates or other evidence of the escrow securities to transferees under this Part 5.

 

	
            PART 6
 	
            BUSINESS COMBINATIONS
 

 

	
            1.0
 	
            Business Combinations
 

 

This Part applies to the following (business combinations):

 

(a)        a formal take-over bid for all outstanding equity securities of the Issuer or which, if successful, would result in a change of control of the Issuer 

(b)        a formal issuer bid for all outstanding equity securities of the Issuer

(c)        a statutory arrangement

(d)        an amalgamation

(e)        a merger

(f)         a reorganization that has an effect similar to an amalgamation or merger

 

	
            6.2
 	
            Delivery to Escrow Agent
 

 

You may tender your escrow securities to a person or company in a business combination.  At least five business days prior to the date the escrow securities must be tendered under the business combination, you must deliver to the Escrow Agent:

 

(a)        a written direction signed by you that directs the Escrow Agent to deliver to the depositary under the business combination any share certificates or other evidence of the escrow securities and a completed and executed cover letter or similar document and, where required, transfer power of attorney completed and executed for transfer in accordance with the requirements of the depositary, and any other documentation specified or provided by you and required to be delivered to the depositary under the business combination; and

 

(b)        any other information concerning the business combination as the Escrow Agent may reasonably request.

 

	
            6.3
 	
            Delivery to Depositary
 

 

As soon as reasonably practicable, and in any event no later than three business days after the Escrow Agent receives the documents and information required under section 6.2, the Escrow Agent will deliver to the depositary, in accordance with the direction, any share certificates or other evidence of the escrow securities, and a letter addressed to the depositary that 

 

	
            (a)
 	
            identifies the escrow securities that are being tendered;
 

 

	
            (b)
 	
            states that the escrow securities are held in escrow;
 

 

(c)           states that the escrow securities are delivered only for the purposes of the business combination and that they will be released from escrow only after the Escrow Agent receives the information described in section 6.4; 

 

(d)           if any share certificates or other evidence of the escrow securities have been delivered to the depositary, requires the depositary to return to the Escrow Agent, as soon as practicable, any share certificates or other evidence of escrow securities that are not released from escrow into the business combination; and 

 

(e)           where applicable, requires the depositary to deliver or cause to be delivered to the Escrow Agent, as soon as practicable, any share certificates or other evidence of additional escrow securities that you acquire under the business combination.  

 

	
            6.4
 	
            Release of Escrow Securities to Depositary
 

 

The Escrow Agent will release from escrow the tendered escrow securities when the Escrow Agent receives a declaration signed by the depositary or, if the direction identifies the depositary as acting on behalf of another person or company in respect of the business combination, by that other person or company, that:

 

	
            (a)
 	
            the terms and conditions of the business combination have been met or waived; and
 

 

(b)           the escrow securities have either been taken up and paid for or are subject to an unconditional obligation to be taken up and paid for under the business combination.

 

	
            6.5
 	
            Escrow of New Securities
 

 

If you receive securities (new securities) of another issuer (successor issuer) in exchange for your escrow securities, the new securities will be subject to escrow in substitution for the tendered escrow securities if, immediately after completion of the business combination:

 

(a)           the successor issuer is not an exempt issuer (as defined in section 3.2 of the Policy);

 

(b)           you are a principal (as defined in section 3.5 of the Policy) of the successor issuer; and

 

(c)           you hold more than 1% of the voting rights attached to the successor issuer’s outstanding securities (In calculating this percentage, include securities that may be issued to you under outstanding convertible securities in both your securities and the total securities outstanding.)

 

	
            6.6
 	
            Release from Escrow of New Securities
 

 

	
            (1)
 	
            As soon as reasonably practicable after the Escrow Agent receives:
 

 

(a)           a certificate from the successor issuer signed by a director or officer of the successor issuer authorized to sign 

 

(i)            stating that it is a successor issuer to the Issuer as a result of a business combination and whether it is an emerging issuer or an established issuer under the Policy, and 

 

	
            (ii)
 	
            listing the Securityholders whose new securities are subject to escrow under section 6.5,
 

 

the escrow securities of the Securityholders whose new securities are not subject to escrow under section 6.5 will be released, and the Escrow Agent will send any share certificates or other evidence of the escrow securities in the possession of the Escrow Agent in accordance with section 2.3.

 

(2)           If your new securities are subject to escrow, unless subsection (3) applies, the Escrow Agent will hold your new securities in escrow on the same terms and conditions, including release dates, as applied to the escrow securities that you exchanged. 

 

	
            (3)
 	
            If the Issuer is
 

 

(a)           an emerging issuer, the successor issuer is an established issuer, and the business combination occurs 18 months or more after the Issuer’s listing date, all escrow securities will be released immediately; and

 

(b)           an emerging issuer, the successor issuer is an established issuer, and the business combination occurs within 18 months after the Issuer’s listing date, all escrow securities that would have been released to that time, if the Issuer was an established issuer on its listing date, will be released immediately.  Remaining escrow securities will be released in equal instalments on the day that is 6 months, 12 months and 18 months after the Issuer’s listing date. 

 

	
            PART 7
 	
            RESIGNATION OF ESCROW AGENT
 

 

	
            7.1
 	
            Resignation of Escrow Agent
 

 

(1)            If the Escrow Agent wishes to resign as escrow agent, the Escrow Agent will give written notice to the Issuer.  

 

(2)            If the Issuer wishes to terminate the Escrow Agent as escrow agent, the Issuer will give written notice to the Escrow Agent. 

 

(3)            If the Escrow Agent resigns or is terminated, the Issuer will be responsible for ensuring that the Escrow Agent is replaced not later than the resignation or termination date by another escrow agent that is acceptable to the securities regulators having jurisdiction in the matter and that has accepted such appointment, which appointment will be binding on the Issuer and the Securityholders. 

 

(4)            The resignation or termination of the Escrow Agent will be effective, and the Escrow Agent will cease to be bound by this Agreement, on the date that is 60 days after the date of receipt of the notices referred to above by the Escrow Agent or Issuer, as applicable, or on such other date as the Escrow Agent and the Issuer may agree upon (the “resignation or termination date”), provided that the resignation or termination date will not be less than 10 business days before a release date. 

 

(5)            If the Issuer has not appointed a successor escrow agent within 60 days of the resignation or termination date, the Escrow Agent will apply, at the Issuer’s expense, to a court of 

 

competent jurisdiction for the appointment of a successor escrow agent, and the duties and responsibilities of the Escrow Agent will cease immediately upon such appointment.

 

(6)        On any new appointment under this section, the successor Escrow Agent will be vested with the same powers, rights, duties and obligations as if it had been originally named herein as Escrow Agent, without any further assurance, conveyance, act or deed.  The predecessor Escrow Agent, upon receipt of payment for any outstanding account for its services and expenses then unpaid, will transfer, deliver and pay over to the successor Escrow Agent, who will be entitled to receive, all securities, records or other property on deposit with the predecessor Escrow Agent in relation to this Agreement and the predecessor Escrow Agent will thereupon be discharged as Escrow Agent.

 

(7)        If any changes are made to Part 8 of this Agreement as a result of the appointment of the successor Escrow Agent, those changes must not be inconsistent with the Policy and the terms of this Agreement and the Issuer to this Agreement will file a copy of the new Agreement with the securities regulators with jurisdiction over this Agreement and the escrow securities. 

 

	
            PART 8
 	
            OTHER CONTRACTUAL ARRANGEMENTS
 

 

INTENTIONALLY LEFT BLANK.

 

	
            PART 9
 	
            NOTICES
 

 

	
            9.1
 	
            Notice to Escrow Agent
 

 

Documents will be considered to have been delivered to the Escrow Agent on the next business day following the date of transmission, if delivered by fax, the date of delivery, if delivered by hand during normal business hours or by prepaid courier, or 5 business days after the date of mailing, if delivered by mail, to the following: 

 

Pacific Corporate Trust Company

	
            Address:
 	
            10th Floor, 625 Howe Street, Vancouver, BC V6C 3B8
 

Contact: 

	
            Fax:
 	
            604-689-8144
 

 

 

	
            9.2
 	
            Notice to Issuer
 

 

Documents will be considered to have been delivered to the Issuer on the next business day following the date of transmission, if delivered by fax, the date of delivery, if delivered by hand during normal business hours or by prepaid courier, or 5 business days after the date of mailing, if delivered by mail, to the following:

 

BC Moly Ltd.

	
            Address:
 	
            1010-1030 West Georgia Street, Vancouver, BC V6E 2Y3
 

	
            Contact Person:
 	
            Stephen K. Winters
 

	
            Fax:
 	
            604-688-5590
 

 

	
            9.3
 	
            Deliveries to Securityholders
 

 

Documents will be considered to have been delivered to a Securityholder on the date of delivery, if delivered by hand or by prepaid courier, or 5 business days after the date of mailing, if delivered by mail, to the address on the Issuer’s share register.

 

Any share certificates or other evidence of a Securityholder’s escrow securities will be sent to the Securityholder’s address on the Issuer’s share register unless the Securityholder has advised the Escrow Agent in writing otherwise at least ten business days before the escrow securities are released from escrow.  The Issuer will provide the Escrow Agent with each Securityholder’s address as listed on the Issuer’s share register.

 

	
            9.4
 	
            Change of Address
 

 

(1)            The Escrow Agent may change its address for delivery by delivering notice of the change of address to the Issuer and to each Securityholder. 

 

(2)            The Issuer may change its address for delivery by delivering notice of the change of address to the Escrow Agent and to each Securityholder. 

 

(3)            A Securityholder may change that Securityholder’s address for delivery by delivering notice of the change of address to the Issuer and to the Escrow Agent. 

 

	
            9.5
 	
            Postal Interruption
 

 

A Party to this Agreement will not mail a document it is required to mail under this Agreement if the Party is aware of an actual or impending disruption of postal service. 

 

	
            PART 10
 	
            GENERAL
 

 

	
            10.1
 	
            Interpretation - “holding securities”
 

 

When this Agreement refers to securities that a Securityholder “holds”, it means that the Securityholder has direct or indirect beneficial ownership of, or control or direction over, the securities.

 

	
            10.2
 	
            Further Assurances
 

 

The Parties will execute and deliver any further documents and perform any further acts reasonably requested by any of the Parties to this Agreement which are necessary to carry out the intent of this Agreement.

 

	
            10.3
 	
            Time
 

 

Time is of the essence of this Agreement.

 

	
            10.4
 	
            Incomplete IPO
 

 

If the Issuer does not complete its IPO and has become a reporting issuer in one or more jurisdictions because it has obtained a receipt for its IPO prospectus, this Agreement will remain in effect until the securities regulators in those jurisdictions order that the Issuer has ceased to be a reporting issuer.

 

	
            10.5
 	
            Governing Laws
 

 

The laws of [insert principal jurisdiction] (the “Principal Regulator”) and the applicable laws of Canada will govern this Agreement.  

 

	
            10.6
 	
            Jurisdiction
 

 

The securities regulator in each jurisdiction where the Issuer files its IPO prospectus has jurisdiction over this Agreement and the escrow securities.

 

	
            10.7
 	
            Consent of Securities Regulators to Amendment
 

 

Except for amendments made under Part 3, the securities regulators with jurisdiction must approve any amendment to this Agreement and will apply mutual reliance principles in reviewing any amendments that are filed with them. Therefore, the consent of the Principal Regulator will evidence the consent of all securities regulators with jurisdiction.

 

	
            10.8
 	
            Counterparts
 

 

The Parties may execute this Agreement by fax and in counterparts, each of which will be considered an original and all of which will be one agreement.

 

	
            10.9
 	
            Singular and Plural
 

 

Wherever a singular expression is used in this Agreement, that expression is considered as including the plural or the body corporate where required by the context.

 

	
            10.10
 	
            Language
 

 

This Agreement has been drawn up in the [English/French] language at the request of all Parties.  Cette convention a été rédigé en [anglais/français] à la demande de toutes les Parties. 

 

	
            10.11
 	
            Benefit and Binding Effect
 

 

This Agreement will benefit and bind the Parties and their heirs, executors, administrators, successors and permitted assigns and all persons claiming through them as if they had been a Party to this Agreement. 

 

	
            10.12
 	
            Entire Agreement
 

 

This is the entire agreement among the Parties concerning the subject matter set out in this Agreement and supersedes any and all prior understandings and agreements.

 

	
            10.13
 	
            Successor to Escrow Agent  
 

 

Any corporation with which the Escrow Agent may be amalgamated, merged or consolidated, or any corporation succeeding to the business of the Escrow Agent will be the successor of the Escrow Agent under this Agreement without any further act on its part or on the part or any of the Parties, provided that the successor is recognized as a transfer agent by the Canadian exchange the Issuer is listed on (or if the Issuer is not listed on a Canadian exchange, by any Canadian exchange) and notice is given to the securities regulators with jurisdiction.

 

The Parties have executed and delivered this Agreement as of the date set out above. 

 

PACIFIC CORPORATE TRUST COMPANY

 “signed”

	
            _________________________________________
 

	
            Authorized signatory
 

 

	
            _____________________________________________
 

 

	
            Authorized signatory
 

 

 

BC MOLY LTD.

 

	
                             ”Signed”                                                                        
 

	
            Authorized signatory
 

 

	
            _____________________________________________
 

	
            Authorized signatory
 

 

 

	
            Signed, sealed and delivered by
 	
            )
 

	
            Dale McClanaghan in the presence of:
 	
            )
 

	
             
 	
            )
 

	
            _____________________________________________
 	
            )
 

	
            Signature of Witness
 	
            )
 	
            “Dale McClanaghan”
 

	
             
 	
            )
 	
            Dale McClanaghan
 

	
            _____________________________________________
 	
            )
 

	
            Name of Witness
 	
            )
 

	
             
 	
            )
 

 

	
            Signed, sealed and delivered by
 	
            )
 

	
            Scott Steeds in the presence of:
 	
            )
 

	
             
 	
            )
 

	
            _____________________________________________
 	
            )
 

	
            Signature of Witness
 	
            )
 	
            “Scott Steeds”
 

	
             
 	
            )
 	
            Scott Steeds
 

	
            _____________________________________________
 	
            )
 

	
            Name of Witness
 	
            )
 

	
             
 	
            )
 

 

Schedule “A” to Escrow Agreement

 

	
            Securityholder
 

 

	
            Name:
 	
            Dale McClanaghan
 

 

	
             
 	
            4150 West 14th Avenue, Vancouver, B.C., V6R 2X5
 

 

 

	
            Securities:

 
 	
             
 	
             
 
	
            Class or description 
 	
            Number
 	
            Certificate(s) (if applicable)

 
 
	
            Common
 	
            750,000
 	
             
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 

 

 

	
            Securityholder
 

 

	
            Name:
 	
            Scott Steeds
 

 

	
             
 	
            501 – 1860 Robson Street, Vancouver, B.C., V6G 3C1
 

 

 

	
            Securities:

 
 	
             
 	
             
 
	
            Class or description 
 	
            Number
 	
            Certificate(s) (if applicable)

 
 
	
            Common
 	
            750,000
 	
             
 
	
             
 	
             
 	
             
 
	
             
 	
             
 	
             
 

 

 

Schedule “B” to Escrow Agreement

 

Acknowledgment and Agreement to be Bound

 

I acknowledge that the securities listed in the attached Schedule “A” (the “escrow securities”) have been or will be transferred to me and that the escrow securities are subject to an Escrow Agreement dated __________________________  (the “Escrow Agreement”).  

 

For other good and valuable consideration, I agree to be bound by the Escrow Agreement in respect of the escrow securities, as if I were an original signatory to the Escrow Agreement.  

 

Dated at ____________________ on ______________.

 

Where the transferee is an individual:

 

	
            Signed, sealed and delivered by
 	
            )
 

	
            [Transferee] in the presence of:
 	
            )
 

	
             
 	
            )
 

	
            __________________________________________
 	
            )
 

	
            Signature of Witness
 	
            )
 

	
             
 	
            )  
 	
            ___________________________
 

	
             
 	
            )
 	
            [Transferee]
 

	
            _____________________________________________
 	
            )
 

	
            Name of Witness
 	
            )
 

	
             
 	
            )
 

 

 

Where the transferee is not an individual:

 

[Transferee]

 

_________________________________________

Authorized signatory

 

_________________________________________

Authorized signatory

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