Document:

ex_238727.htm

EXHIBIT 10.1

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT made as of the 1st of January, 2021

 

BETWEEN:

 

CORVUS GOLD NEVADA INC, a company formed under the laws of Nevada and having its head office at 9088 Ridgeline Boulevard, Suite 103, Highlands Ranch, Colorado, U.S.A. 80129

 

(the “Company”)

 

AND:

 

Carl E. Brechtel of Colorado U.S.A.

 

(the “Employee”)

 

WHEREAS

 

A:                         The Company is desirous of employing the Employee and

 

B.                          It is a condition of the employment of the Employee by the Company that the parties enter into this agreement setting out the terms and conditions of such employment.

 

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows:

 

ARTICLE ONE – EMPLOYMENT AND POSITION

 

1.01    Employment. In connection with the Employee’s transition from Chief Operating Officer of the Company to Chief Administrative Officer of the Company, the Company hereby agrees to continue to employ the Employee, and the Employee hereby agrees to continue to work for the Company, upon the new terms and conditions hereinafter set forth as of January 1, 2021. The Employee’s first day of work in the new position of Chief Administrative Officer for the Company will be 1st of January 2021.

 

1.02    At-will Employment. The employment of the Employee by the Company will be at-will, such that either the Company or the Employee may terminate the employment of the Employee at any time for any reason, with or without prior notice.

 

1.03    Position. As of January 1, 2021, the Employee will be employed as the Chief Administrative Officer of the Company and will perform such duties as will be assigned to the Employee by the Company. Prior to January 1, 2021, the Employee was employed as Chief Operating Officer of the Company.

 

1.04    Reporting. The Employee will report to and be directly responsible to the C.E.O. (the “Manager”). The Employee will keep the Manager fully informed, on an ongoing basis, of all matters concerning the Company and its activities, and will provide the Manager with status reports concerning the Company, and its business and activities, at such times, in such manners, and containing such information, as the CEO may request from time to time.

 

1.05    Location. The Employee will be based at and will perform the Employee’s duties primarily at the Company’s offices in Highlands Ranch, Colorado. The Employee will also perform the Employee’s duties at other locations in the United States or Canada or in other jurisdictions with such frequency and for such duration as the CEO reasonably considers necessary for the proper and timely performance of the Employee’s duties hereunder.

 

1.06    Travel. The Employee acknowledges that the Employee will be required to travel in connection with the performance of the Employee’s duties hereunder, and will ensure that he is able to do so as and when required for the proper and efficient performance of such duties hereunder and will, without limitation, maintain at all times a valid passport and other required travel documentation (including, where required, visas) and such up-to-date inoculations as are likely to be required in order to visit those places where the Company presently has mineral properties. The Company will pay for, or reimburse the Employee for, the costs of obtaining and maintaining such required travel documentation and up-to-date inoculations. The Employee understands that the travel requirement set forth is an essential part of the position and the Employee is able to perform the essential functions of the job with or without reasonable accommodation.

 

 

 

 

ARTICLE TWO – THE EMPLOYEE'S DUTIES AND OBLIGATIONS

 

2.01    Employee’s Duties. The Employee will be responsible for:

 

	 	
			a.

				
			The Chief Administrative Officer (CAO) of Corvus Gold Inc., Corvus Gold (USA) Inc., Corvus Gold Nevada Inc., Raven Gold Alaska Inc., SoN Land and Water LLC, and Mother Lode Mining Company LLC (collectively “Corvus” is a key member of the Corvus management team advancing the Company’s Administrative function in support of moving the Company toward production, and reports directly to the President and Chief Executive Officer (CEO). Working closely with the Project Development Manager and US Exploration Manager, the Chief Administrative Officer monitors key land, infrastructure, permitting and community relations items as directed by the CEO. The CAO will support the CEO with administrative and budget related duties as well as aiding in keeping the Company-wide technical database up to date and providing access for third party review.

			

 

	 	
			b.

				
			The CAO will support the CEO in attainment of Corvus Corporate Objectives, as required.

			

 

	 	
			c.

				
			The position is part-time, based in Denver Colorado, USA and may require travel to Nevada, Vancouver and other locations.

			

 

	 	
			d.

				
			The Chief Administrative Officer will assist with the day to day accounting and corporate operations of Corvus Gold and report directly to the CEO.

			

 

	 	
			e.

				
			Specific Accountabilities

			

 

	 	
			i.

				
			Supports administrative function of the Denver office and provides accounting approvals and budget support as well as quarterly reporting as required by the CFO.

			

 

	 	
			ii.

				
			Manages water rights and oversight for baseline project level environmental monitoring in support of mine permitting activities.

			

 

	 	
			iii.

				
			Monitors the Company technical database and facilitates access from approved review groups in support of a future transactions.

			

 

	 	
			iv.

				
			Provide project development technical support for specific projects an as needed basis.

			

 

	 	
			v.

				
			Manages project area community relations

			

 

The Company, acting through the Manager, may curtail any such duties or responsibilities or assign such additional duties and responsibilities, and reserves the right to make such changes to the duties and responsibilities of the Employee as the Company may determine to be appropriate and as are consistent with its ongoing business needs.

 

2.02    Part Time and Efforts. The position of the Employee is a part-time position, and the Employee will devote the Employee’s apportioned time, effort and attention to the performance of the Employee’s duties on behalf of the Company hereunder. The Employee will at all times faithfully, diligently, and to the best of the Employee’s abilities, perform all duties and assume all responsibilities required of him under this Agreement. The Employee will not, while employed by the Company hereunder, render or perform any services for any other corporation, firm, entity or person which are inconsistent with the Employee’s duties to the Company or which would otherwise impair the Employee’s ability to perform the Employee’s duties hereunder.

 

2.03    Compliance with Securities Laws, Prohibition on Insider Trading. The Employee acknowledges that the Company is a subsidiary of Corvus Gold Inc. (“KOR”), a “reporting issuer” and a public company whose common shares trade on various stock exchanges, and that, as a consequence of this, the Company and its officers and employees are subject to securities laws in both Canada and the United States. The Employee also acknowledges that much of the information which will be received by, or become known to, the Employee during the course of the Employee’s employment by the Company hereunder (whether or not such information is also Confidential Information (as defined in Section 5.02)) is likely to be material and non-public information with respect to the business, affairs, assets, mineral properties and/or status (financial and otherwise) of the Company and its affiliates (being, presently, Corvus Gold (USA) Inc., Raven Gold Alaska Inc. (“Raven”), Corvus Gold Nevada Inc., SoN Land and Water LLC, Mother Lode Mining Company LLC and any other subsidiaries of Corvus Gold Inc. (together with the Company, the “KOR Group”)) and may constitute material facts or material changes (as those terms are defined in the Securities Act (B.C.)), and that the provisions of applicable securities legislation, including, without limitation, section 86 of the Securities Act (B.C.), prohibit:

 

 

 

 

	 	
			(a)

				
			trading in securities of a reporting issuer such as KOR by a person who knows of a material fact or a material change with respect to that issuer that has not been generally disclosed, or

			

 

	 	
			(b)

				
			informing another person of a material fact or a material change with respect to that reporting issuer before the material fact or material change has been generally disclosed, unless the giving of such information is necessary in the course of business of the reporting issuer or of such person.

			

 

By virtue of his position as a senior employee of the Company, the Employee will be considered to be in special relationship with KOR. The Employee also acknowledges that the penalties for violation of such prohibitions are severe and that the carrying on of any such activities will materially and adversely affect the Company. Accordingly, the Employee agrees that the Employee will take all necessary steps to fully comply with applicable legislation regarding any trading in the securities of KOR.

 

2.04    Employee Bound by KOR Group Policies. The Employee acknowledges that the Employee is bound by, and will carry out the Employee’s duties and responsibilities hereunder and will otherwise act in accordance with, the codes, policies, procedures and performance standards applicable to the Company and its employees as may be adopted, enacted or amended from time to time by the Board.

 

2.05    No Conflicting Obligations. The Employee represents and warrants to the Company that the Employee is not under any contractual commitments inconsistent with the obligations of the Employee set forth in this Agreement.

 

ARTICLE THREE – EMPLOYEE COMPENSATION

 

3.01    Base Salary compensation will be USD $850 per day for all full days (8 work hours) for a minimum of 8 days per month for a minimum monthly base of USD $6,800 per month and additional pay based on actual days worked in excess of 8 per month at the rate of USD $850/day.

 

3.02    Stock Options. The Employee will, subject to regulatory acceptance and compliance with applicable securities laws, be eligible to be granted incentive stock options to purchase common shares of KOR under the 2010 Incentive Stock Option Plan (as the same may be amended from time to time) (the “Option Plan”), to such extent and in such amounts as the CC or, if there is then no CC, the Board, may from time to time determine (which may, in the discretion of the CC or the Board, as applicable, provide for such vesting provisions as may be thought advisable or desirable).

 

3.03    Other Benefits. The Employee will be eligible to participate in all employee benefit plans or programmes in effect for executive and key management employees of the Company including, without limitation, medical, dental, insurance, pension or retirement plans, to the extent of and in accordance with the rules and agreements governing such plans or programmes so long as such plans and programmes are in effect, in addition to the compensation otherwise provided for in this Article Three. Any such benefits that are offered by the Company from time to time will be subject to the terms of the applicable plan(s). The Company reserves the right to amend or modify any such benefits, the terms thereof and the cost sharing of such benefits from time to time, without prior notice, in its sole discretion.

 

3.04    Expenses. The Company will promptly reimburse the Employee for reasonable expenses incurred by the Employee in the performance of the Employee’s duties and responsibilities hereunder including entertainment, travel and business development expenses commensurate with the position, duties and responsibilities of the Employee, provided that, if requested by the Company at the time such reimbursement is requested from the Company, receipts for all expenses in excess of TWENTY-FIVE ($25) DOLLARS are presented. All request for expense reimbursements, or accountings for expense advances or credit card charges, will be accompanied by an expense report suitable in form to the Company, acting reasonably. The Employee agrees to submit any request for reimbursement within thirty (30) days of the end of the month in which such expense was incurred.

 

3.05    Vacation. The Employee will be eligible in each calendar year to ten (10) days’ paid vacation, to be taken at such time or times as the Employee may select and as the Manager may reasonably approve having regard to the business, affairs and operations of the Company. If, in any calendar year of employment, the Employee is employed for only a part of such year, such vacation eligibility will be prorated as though it were accruing from day to day. The Employee may not carry all or any portion of the vacation for which the Employee was eligible in one calendar year beyond March 31 of the following calendar year without written approval of the Board. Subject to any such approved carry-over, vacation pay for accrued but unused vacation time in any calendar year of employment will be paid to the Employee on or before April 30 in the next following year.

 

 

 

 

3.06    Sick Day Allowance. The Employee will be permitted to take up to FIVE (5) paid sick days per calendar year, provided that such entitlement will not be banked or carried over from one calendar year to the next. If, in any calendar year of employment hereunder, the Employee is employed for only a part of such year, such sick day entitlement will be prorated as though it were accruing from day to day.

 

3.07    Safety Equipment to be Provided by the Company. The Company will, at its cost supply to the Employee, or will reimburse the Employee for the reasonable costs of, all requisite safety, health and environmental equipment and supplies necessary for the Employee to properly carry out and perform the Employee’s duties hereunder.

 

ARTICLE FOUR – NON-COMPETITION

 

4.01    Agreement Not to Compete. The Employee acknowledges that, in the course of the performance of the Employee’s duties and obligations under this Agreement, the Employee will acquire access to Confidential Information (as defined in Section 5.02) and the Employee further acknowledges that if the Employee were to compete against the Company or a member of the KOR Group or be employed or in any way involved with a person or company that was in competition with the Company or a member of the KOR Group following the termination of the Employee’s employment with the Company, the Company would suffer irreparable damages. Accordingly, the Employee will not, at any time or in any manner during the Employee’s employment hereunder, or at any time within ONE (1) YEAR after termination of the Employee’s employment with the Company under this Agreement for whatever reason, and notwithstanding any alleged breach of this Agreement:

 

	 	
			(a)

				
			directly or indirectly engage in any business involving the acquisition, exploration, development or operation of any mineral property which is competitive or in conflict with the business of the Company or a member of the KOR Group; or

			

 

	 	
			(b)

				
			accept employment or office with or render services or advice to any other company, firm or individual, whether a competitor or otherwise, engaged in the acquisition, exploration, development or operation of any mineral property which is competitive or in conflict with the business of the Company or a member of the KOR Group; or

			

 

	 	
			(c)

				
			solicit or induce any director, officer or employee of the Company or of any member of the KOR Group to end their association with the Company or a member of the KOR Group; or

			

 

	 	
			(d)

				
			directly or indirectly, on the Employee’s own behalf or on behalf of others, solicit, divert or appropriate to or in favour of any person, entity or corporation, any maturing business opportunity or any business of the Company or of any member of the KOR Group; or

			

 

	 	
			(e)

				
			directly or indirectly take any other action inconsistent with the fiduciary relationship of a senior officer to his/her company,

			

 

without the prior written consent of the Company, which consent may be withheld in the Company’s sole discretion.

 

4.02    Definition of “mineral property which is competitive or in conflict with the business of the Company or a member of the KOR Group”. For the purposes of this Agreement, a mineral property which is competitive or in conflict with the business of the Company or a member of the KOR Group is one:

 

	 	
			(a)

				
			which is primarily prospective for gold, silver or any base metal (or any combination thereof, with or without other minerals), and

			

 

	 	
			(b)

				
			any part of which lies within a horizontal distance of TWENTY-FIVE (25) kilometres from the outer boundaries of any mineral property in which the Company or any member of the KOR Group holds, or has the right to acquire, an interest.

			

 

4.03    Employee is a Fiduciary. The Employee acknowledges and agrees that he is a fiduciary of the Company and, accordingly, based upon the current business activities of the Company, the restrictive covenants set forth in Section 4.01 are necessary and fundamental to the protection of the business of the Company and reasonable and valid, and all defences to the strict enforcement thereof by the Company are hereby waived by the Employee.

 

 

 

 

ARTICLE FIVE – CONFIDENTIALITY

 

5.01    Agreement to Keep Information Confidential. The Employee will, at all times during the employment of the Employee hereunder and for a period of ONE (1) YEAR after termination of the employment of the Employee hereunder for any reason and notwithstanding any alleged breach of this Agreement:

 

	 	
			(a)

				
			hold in secrecy, as trustee or custodian for the Company and the Company’s exclusive benefit and use, all of the Company’s Confidential Information (as defined below) and all Confidential Information of any member of the KOR Group, whether or not discovered, made or contributed to, in whole or in part, by the Employee;

			

 

	 	
			(b)

				
			except, and then only to the extent required under the specific circumstances, as reasonably necessary for the Employee to fulfill the Employee’s duties and responsibilities hereunder, not divulge any Confidential Information to any person or persons, without the previous written consent of the Manager or the Board; and

			

 

	 	
			(c)

				
			not use or attempt to use any Confidential Information that the Employee may acquire in the course of the Employee’s employment hereunder for the Employee’s own benefit, directly or indirectly, or for the benefit of any other person.

			

 

5.02    Definition of Confidential Information. For the purposes of this Agreement, the term “Confidential Information” means:

 

	 	
			(a)

				
			any information relating to the claims, concessions, licenses or other interests in minerals or in mineral properties, in which the Company or any member of the KOR Group holds, or has a right to acquire, an interest (whether directly or indirectly, such as pursuant to a joint venture or otherwise) or other properties in which the Company or any member of the KOR Group holds an interest (whether directly or indirectly, such as pursuant to a joint venture or otherwise) (collectively the “Properties”) and the assets, liabilities, business, operations, shareholdings, products, processes or activities of the Company or any member of the KOR Group that are not generally known to the public at large, including, but not limited to title, ownership, geological, mining, metallurgical, engineering and economic studies, budgets and programs, strategies, data, maps, plans, reports, results, drawings, interpretations, assays, forecasts, records and other technical information;

			

 

	 	
			(b)

				
			any information derived from a site visit or visits to any of the Properties or an examination of any rock, soil, minerals, ore or other samples or substances extracted from any of the Properties;

			

 

	 	
			(c)

				
			all summaries or extracts from and all notes, memoranda, studies, maps, records, notebooks, compilations, analyses or other documents based upon the information specified in clauses (a) or (b) above; and

			

 

	 	
			(d)

				
			any information similar to clauses (a) through (c) above in respect of a mineral property being considered by the Company or any member of the KOR Group for possible acquisition.

			

 

5.03    Return of Information. All documents, records, notebooks, work papers, notes, memoranda, studies, compilations, analyses and similar repositories of or containers of Confidential Information, made or compiled by the Employee (in whatever form, including written, photographic, electronic, digital or otherwise) at any time during the employment of the Employee hereunder, or made available to the Employee during or prior to the employment of the Employee hereunder by the Company or any member of the KOR Group, including any and all copies thereof, will be the property of the Company or such member of the KOR Group, as the case may be, and belong solely to the Company or such member of the KOR Group, as the case may be, and will be held by the Employee in trust and solely for the befit of the Company or such member of the KOR Group, as the case may be, and will be delivered to the Company by the Employee upon the termination of the Employee’s employment with the Company or at any other time upon request by the Company. The Employee will deliver a statutory declaration to the Company upon termination of the Employee’s employment hereunder attesting to the Employee’s compliance with this Section 5.03.

 

ARTICLE SIX – CORPORATE OPPORTUNITIES

 

6.01    Obligation to Disclose Corporate Opportunities. During the Employee’s employment, the Employee will communicate at once to the Company all business opportunities (including with respect to the acquisition of potential mineral deposits), inventions and improvements in the nature of the business of the Company, or any member of the KOR Group, located anywhere in the world which, during the Employee’s employment hereunder, the Employee may conceive, make, or discover, become aware of, directly or indirectly, or have presented to the Employee in any manner, that relate in any way to the business of the Company or any member of the KOR Group, either as it is now or as it may develop, and such business opportunities, inventions and improvements will become the exclusive property of the Company without any obligation on the part of the Company to make any payment or reimbursement therefor to the Employee in addition to the Base Salary described in this Agreement.

 

 

 

 

ARTICLE SEVEN – NOTIFICATION OF LAWSUITS AND VIOLATIONS OF LAWS

 

7.01    Obligation to Disclose Suits. The Employee will promptly notify the Board of any lawsuit, proceeding or other action commenced or taken against the Company or any member of the KOR Group or any facts or circumstances of which the Employee is aware which may reasonably form the basis of any lawsuit, proceeding or action against the Company or any member of the KOR Group.

 

7.02    Obligations to Disclose Violations of Laws. The Employee will make reasonable efforts to become familiar with, and will use the Employee’s best efforts to cause the Company and any member of the KOR Group to comply with, all relevant and applicable laws, regulations, rules and orders of duly constituted governmental authorities and will, in particular, cause the Company to conduct its business in a manner so as to comply in all material respects with all federal, provincial, state or local environmental laws, regulations, rules and orders applicable in each jurisdiction where the Company or a member of the KOR Group carries on business or owns assets. The Employee will promptly notify the Board if the Employee becomes aware that the Company or any member of the KOR Group has violated any law, regulation, rule or order or if the Employee receives notice that any administrative or judicial complaint has been filed against the Company or any member of the KOR Group.

 

ARTICLE EIGHT – AGREEMENT VOLUNTARY AND EQUITABLE

 

8.01    Acknowledgement. The Company and the Employee acknowledge and declare that they each have carefully considered and understand the terms and conditions of employment contained in this Agreement including, but without limiting the generality of the foregoing, the restrictions on the Employee after termination, and acknowledge and agree that the terms and conditions of employment and rights and restrictions upon termination set forth herein are mutually fair and equitable. Each of the parties covenants, agrees and acknowledges that each of them was fully and plainly instructed to seek and obtain independent legal and tax advice regarding the terms and conditions and execution of this Agreement and each of them has sought and obtained such legal and tax advice and acknowledges that each has executed this Agreement voluntarily understanding the nature and effect of this Agreement after receiving such advice.

 

ARTICLE NINE – ARBITRATION

 

9.01    Submission of Disputes to Arbitration. Except with respect to Articles 4, 5 or 6, for which the Company has the right to seek injunctive relief, any dispute arising out of or relating to this Agreement or the alleged breach of it, or any dispute arising from or related in any way to Employee’s employment, including any statutory or tort claims, will be discussed between the disputing parties in a good faith effort to arrive at a mutual settlement of any such controversy. If such dispute cannot be resolved, such dispute will be settled by binding arbitration. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The arbitrator will be a retired state or federal judge or an attorney who has practiced business or employment litigation for at least 10 years. If the parties cannot agree on an arbitrator within twenty (20) days, either party may request that the American Arbitration Association (“AAA”) designate a panel of five proposed arbitrators meeting the criteria set forth in this Section, and the parties will alternate striking members of the panel, with the Employee having the first strike, until an arbitrator is thereby selected. Arbitration will be conducted pursuant to the provisions of this Agreement, and the applicable arbitration rules of the AAA, unless such rules are inconsistent with the provisions of this Agreement, but, unless an arbitrator is selected through the AAA, without submission of the dispute to the AAA. Each party will be permitted reasonable discovery, including the production of relevant documents by the other party, exchange of witness lists, and a limited number of depositions, including depositions of any experts who will testify at the arbitration. The summary judgment procedure applicable in Denver County, Colorado, District Court will be available and apply to any arbitration conducted pursuant to this Agreement. The arbitrator will have the authority to award to the prevailing party any remedy or relief that a court of the State of Colorado could order or grant, including costs and attorneys’ fees. Unless otherwise agreed by the parties, the place of any arbitration proceedings will be Denver, Colorado.

 

ARTICLE TEN –  MISCELLANEOUS

 

10.01    Binding Agreement. This Agreement is personal to and will be binding on the parties hereto and their respective successors in interest but, except as hereinafter provided, will not be assignable by either party. The Company will be entitled to assign this Agreement to any continuing or successor company resulting from any amalgamation, consolidation, merger or arrangement with one or more affiliates of the Company or a member of the KOR Group without obtaining the consent of the Employee. This Agreement and all rights of the Employee hereunder will enure to the benefit of and be enforceable by the Employee's heirs, executors, administrators or other legal personal representatives.

 

 

 

 

10.02    Notices. Any notice or other communication required or permitted to be given or made hereunder will be in writing and will be well and sufficiently given or made if:

 

	
			(a)

				
			enclosed in a sealed envelope and delivered in person to the party to whom it is addressed at the relevant address set forth below; or

			

 

	
			(b)

				
			sent by facsimile or other means of recorded electronic communications;

			

 

if to the Company addressed to it at:

 

Corvus Gold Nevada Inc.

9088 Ridgeline Boulevard, Suite 103

Highlands Ranch, Colorado 80129

U.S.A.

 

Attention:         The Chief Executive Officer

Facsimile:         1-303-470-8706

 

with a copy for information purposes only to:

 

Corvus Gold Inc.

Suite 1750 – 700 West Pender Street

Vancouver, British Columbia

CANADA V6C 1G8

 

Attention:         Chief Financial Officer

Facsimile:         1-303-470-8706

 

and if to the Employee, addressed to the Employee at:

 

Carl Brechtel

Colorado U.S.A.

Email:

Facsimile:  (303)-470-8706

 

Any notice or other communication so given will be deemed to have been given and to have been received on the day of delivery, if delivered, and on the day of sending, if sent by facsimile or other means of recorded electronic communication (provided such delivery or sending is during normal business hours on a business day and, if not, then on the first business day thereafter). Either party hereto may change his or its address for notice by notice to the other party hereto given in the manner aforesaid.

 

10.03    Modification and Waiver. No provision of this Agreement may be modified or amended unless such modification or amendment is authorized by the Board and is agreed to in writing by the Employee and the Company. No waiver by either party hereto of any breach by the other party hereto of any condition or provision of this Agreement will be deemed a waiver of similar or dissimilar provisions or conditions at the time or at any prior or subsequent time. No agreement or representations, oral or otherwise, express or implied, with respect to the employment of the Employee by the Company have been made by either party which are not set forth expressly in this Agreement.

 

10.04    Survival of Obligations. The obligations of the parties pursuant to section 2.03 and Articles 4, 5, 6, 7, 9 and 10 will survive the termination of this Agreement and the Employee’s employment hereunder for a period of not less than TWO (2) YEARS.

 

10.05    Entire Agreement. This Agreement contains all the terms and conditions agreed upon by the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings with respect thereto. There are no agreements collateral or supplementary hereto.

 

10.06    Law Governing. This Agreement has been made in Colorado and will be subject to and governed by the laws of the State of Colorado and the federal laws of the United States applicable therein. The parties hereby attorn to the jurisdiction of the arbitrators and courts of the State of Colorado with respect to any dispute or other matter arising hereunder

 

10.07    Reasonable Restrictions. Employee understands and agrees that the restrictions contained in Articles Four, Five, and Six of this Agreement are necessary for Company’s protection of its business and interests, and the Employee agrees that the restrictions are reasonable, and are related to that purpose. In the event Employee breaches or threatens to breach the covenants contained in Articles Four, Five, and/or Six of this Agreement, Employee understands and recognizes that irreparable injury will result to Company, that Company’s remedy at law for damages will be inadequate, and that Company shall be entitled to an injunction to restrain the breach by Employee, the Employee’s partners, agents, servants or employees, or any other persons or entities acting for or with the Employee. Employee further agrees that Company shall not be required to post a bond to receive such an injunction. Company shall further be entitled to damages, reasonable attorney’s fees, and all other costs and expenses incurred in connection with the enforcement of Articles Four, Five, and/or Six of this Agreement, in addition to any other rights and remedies which Company may have at law or in equity.

 

 

 

 

10.08    Consent To Jurisdiction, Service of Process, And Venue for Disputes Arising Under Articles 4, 5 Or 6 Of This Agreement. The parties agree that any dispute or claim between the Company and Employee arising under Articles 4, 5 or 6 of this Agreement shall be adjudicated exclusively in the District Court of Denver County, State of Colorado. The parties agree not to commence or pursue any action arising under Articles 4, 5 or 6 of this Agreement in any other state or federal court. Employee and Company also expressly consent to the exclusive jurisdiction of such court and to service of process in any manner provided under Colorado law with respect to any such legal action or proceeding. Both Employee and Company waive any right to a jury trial and any claim for punitive damages in any such legal action or proceeding. 

 

10.09    Invalidity. The invalidity, illegality or unenforceability of any provision hereof will not in any way affect or impair the validity, legality or enforceability of the remaining provisions hereof.

 

10.10    Headings. The headings contained herein are for reference purposes only and will not in any way affect the construction or interpretation of this Agreement.

 

10.11    Severability. To the extent any provision of this Agreement is determined to be invalid or unenforceable in any jurisdiction, such provision will be deemed to be deleted from this Agreement as to such jurisdiction only, and the validity and enforceability of the remainder of such provision and of this Agreement will be unaffected. In furtherance of and not in limitation of the foregoing, the Employee expressly agrees that should the duration of, geographical extent of, or business activities covered by, any provision of this Agreement be in excess of that which is valid or enforceable under applicable law in a given jurisdiction, then such provision, as to such jurisdiction only, will be construed to cover only that duration, extent or activities that may validly or enforceable be covered. The Employee acknowledges the uncertainty of the law in this respect and expressly stipulates that this Agreement will be construed in a manner that renders its provisions valid and enforceable to the maximum extent (not exceeding its express terms) possible under applicable law in each applicable jurisdiction.

 

IN WITNESS WHEREOF the parties hereto have executed this agreement as of the date and year first above written.

 

CORVUS GOLD NEVADA INC.

 

	Per:	/s/ Jeffrey A. Pontius	 
	 	Jeffrey A. Pontius	 
	 	 	 
	 	/s/ Carl Brechtel	 
	 	CARL BRECHTEL	 
	 	 	 
	 	 	 
	 	Social Security Numberex_238728.htm

EXHIBIT 10.2

 

Form of COC Agreement 

 

CHANGE OF CONTROL AGREEMENT

CHANGE OF CONTROL AGREEMENT dated effective as of the 1st day of January, 2021.

 

 

AMONG:

 

CORVUS GOLD NEVADA INC., a corporation formed under the laws of Nevada and having its head office at 9088 Ridgeline Boulevard, Suite 103, Highlands Ranch, Colorado, U.S.A. 80129

 

(the “Subsidiary”)

 

AND:

 

CORVUS GOLD INC., a company incorporated and subsisting under the laws of British Columbia, Canada, and having its head office at Suite 1750 – 700 West Pender Street, Vancouver, British Columbia, CANADA V6C 1G8

 

(the “Parent”)

 

AND:

 

CARL BRECHTEL of CO USA

(the “Employee”)

WHEREAS

 

A:         The Subsidiary is an indirect wholly owned subsidiary of the Parent, and the Employee is an employee of the Subsidiary pursuant to the Employment Agreement and is a senior officer of the Parent;

 

B:         The Parent considers it essential to the best interests of its shareholders to foster the continued employment of certain key personnel employed by the Subsidiary and integral to the success of the business of the Subsidiary and the Parent;

 

C:         The Board recognizes that, as is the case with many publicly held corporations, the possibility of a Change of Control exists and that such possibility, and the uncertainty and questions which it may raise among the key employees of the Subsidiary, may result in the departure or distraction of such key personnel of the Subsidiary to the detriment of the Subsidiary, the Parent and the shareholders of the Parent;

 

D:         The Board has determined, and the manager of the Subsidiary concurs, that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of such key personnel of the Subsidiary, including the Employee, to their assigned duties without distraction in the face of potentially disturbing circumstances arising from the possibility of a Change of Control;

 

ARTICLE ONE - DEFINITIONS

 

1.01         Definitions. For the purposes hereof, the following terms will have the following meanings:

 

	 	
			(a)

				
			“Agreement” means this Agreement related to Termination Following Change of Control;

			

 

	 	
			(b)

				
			“Board” means the board of directors of the Parent;

			

 

	 	
			(c)

				
			“Change of Control” means the occurrence of any of the following events:

			

 

	 	
			(i)

				
			the sale, exchange or other disposition of a majority of the outstanding shares of the Parent in a single transaction or a series of related transactions,

			

 

	 	
			(ii)

				
			the Parent is merged or consolidated in a transaction in which its shareholders receive less than 50% of the outstanding voting shares of the new or continuing corporation,

			

 

 

 

 

	 	
			(iii)

				
			a majority of the incumbent directors of the Parent who were previously nominated by management and elected as directors at the immediately preceding annual general meeting or who were appointed by the Board to fill a vacancy occurring since the immediately preceding annual general meeting are:

			

 

	 	
			(A)

				
			not nominated for re-election at any annual general meeting of the shareholders of the Parent,

			

 

	 	
			(B)

				
			after having been nominated by management for re-election as directors, not re-elected as directors at any annual general meeting of the shareholders of the Parent,

			

 

	 	
			(C)

				
			removed as directors of the Parent, or

			

 

	 	
			(D)

				
			as a result of an increase in the size of the Board and the appointment of new directors, no longer a majority of the Board,

			

 

except as a result of the death, disability or normal retirement of any such directors in accordance with the normal retirement practices of the Parent, or

	 	
			(iv)

				
			the acquisition by any person, or by any person and its affiliates, or by any person acting jointly or in concert with any of the foregoing persons or affiliates, and whether directly or indirectly, of voting securities of the Parent that, when added to all other voting securities at the time held by such person, its affiliates and any person acting in concert with any of the foregoing persons or affiliates, totals for the first time, not less than TWENTY (20%) PERCENT of the then outstanding voting securities of the Parent,

			

 

	 	
			(v)

				
			the disposition, by whatever means, by the Parent, or any affiliate of the Parent, of a majority of the ownership interests in the Subsidiary or the occurrence of any other transaction whereby the Parent, or an affiliate of the Parent, ceases to hold a majority of the ownership interests of the Subsidiary;

			

 

	 	
			(d)

				
			“Compensation Committee” means the Compensation Committee of the Board;

			

 

	 	
			(e)

				
			“Constructive Dismissal” means the occurrence of any one or more of the following events:

			

 

	 	
			(i)

				
			a demotion of the Employee to a position of lesser significance within the Subsidiary or the Parent,

			

 

	 	
			(ii)

				
			a diminishment of the Employee’s responsibilities at the Subsidiary or the Parent in a matter of substance,

			

 

 

	 	
			(iii)

				
			a material reduction in the Employee’s pay or benefits or both,

			

 

	 	
			(iv)

				
			the forced relocation of the Employee of more than fifty (50) kilometres from the Employee’s current principal place of work for the Subsidiary,

			

 

	 	
			(v)

				
			changes in the Employee’s organizational reporting relationship are implemented that result in the Employee reporting to a position of lesser significance within the Subsidiary or the Parent, or

			

 

	 	
			(vi)

				
			the Subsidiary or the Parent materially breaches any of the provisions of this Agreement;

			

 

	 	
			(f)

				
			“Effective Date” means January 1, 2021;

			

 

	 	
			(g)

				
			“Effective Date of Termination” means:

			

 

	 	
			(i)

				
			in the case of the termination of the Employee by the Subsidiary, the date of the delivery by the Subsidiary to the Employee of a notice terminating his employment; and

			

 

 

 

 

	 	
			(ii)

				
			in the case of the occurrence of an event of Constructive Dismissal, the date of the delivery by the Employee to the Subsidiary of a notice stating that the Employee takes the position that, due to the event of Constructive Dismissal, he has been terminated by the Subsidiary;

			

 

	 	
			(h)

				
			“Employment Agreement” means the employment agreement between the Subsidiary and the Employee dated effective the1st of January, 2021; and

			

 

	 	
			(i)

				
			“Good Cause” means any situation, event or happening which would constitute “cause” under the common law and includes, without limitation, the following:

			

 

	 	
			(i)

				
			any wilful failure by the Employee in the performance of any of the Employee’s duties pursuant to the Employment Agreement,

			

 

	 	
			(ii)

				
			the Employee’s conviction of a criminal or summary conviction offence related to the employment of the Employee by the Subsidiary, or any act involving money or other property involving the Subsidiary or any of its affiliates which would constitute a crime in the jurisdiction involved,

			

 

	 	
			(iii)

				
			any act of fraud, misappropriation, dishonesty, embezzlement or similar conduct against the Subsidiary or any of its affiliates, a supplier or service provider to the Subsidiary or any of its affiliates or a customer of the Subsidiary or any of its affiliates,

			

 

	 	
			(iv)

				
			the use of illegal drugs or the habitual and disabling use of alcohol or drugs,

			

 

	 	
			(v)

				
			any material breach of any of the terms of either the Employment Agreement or this agreement by the Employee which breach remains uncured after the expiration of thirty (30) days following the delivery of written notice of such breach to the Employee by the Subsidiary,

			

 

	 	
			(vi)

				
			any threatened or actual attempt by the Employee to secure any personal profit in connection with the business of the Subsidiary or any of its affiliates or any of their respective corporate opportunities, or the appropriation of a maturing business opportunity of the Subsidiary or any of its affiliates,

			

 

	 	
			(vii)

				
			any act by the Employee which is materially injurious to the Subsidiary or any of its affiliates or any of their respective businesses,

			

 

	 	
			(viii)

				
			any material breach by the Employee of any of the policies governing the affairs of the Parent and its affiliates and the conduct of its employees and those of its affiliates that may be implemented by the Board from time to time, and

			

 

	 	
			(ix)

				
			conduct by the Employee amounting to insubordination or inattention to, or materially substandard performance of the duties and responsibilities of the Employee under the Employment Agreement, which conduct remains uncured after the expiration of ten (10) days following the delivery of written notice of such failure or conduct to the Employee by the Subsidiary.

			

 

1.02         Any defined terms in this Agreement which are defined in the Employment Agreement and are not otherwise defined in this Agreement will have the meanings ascribed to them in the Employment Agreement.

 

ARTICLE TWO – TERM 

 

2.01         The term of this Agreement (“Term”) will commence on the Effective Date and will continue through the one-year anniversary of the Effective Date; provided, however, that as of the one-year anniversary of the Effective Date and on each one-year anniversary thereafter, the Term will automatically be extended for one (1) additional year (provided that the Employee is still then an employee of the Subsidiary) unless, not later than four (4) months prior to such applicable anniversary date, either the Employee or the Parent (acting on a resolution of the Compensation Committee) gives written notice to the other party that it does not wish to extend the Term. In such case, this Agreement will terminate at the end of the Term then in progress. However, if a Change of Control has occurred on or prior to the date that this Agreement would otherwise terminate, and notwithstanding any prior notice from one party to the other party to the contrary, the Term will automatically be deemed extended and shall continue until the date that is two (2) years after the date on which the Change of Control occurs.

 

 

 

 

2.02         If the term of this Agreement is not extended pursuant to section 2.01, the Subsidiary is not obligated to pay any severance benefits under Section 3.01 for a Change of Control that happens after the expiration of the Term. In addition, notwithstanding the provisions of Section 2.01, any obligation of the Subsidiary arising during the Term will survive the termination of this Agreement until paid in full.

 

ARTICLE THREE –PAYMENTS UPON TERMINATION FOLLOWING CHANGE OF CONTROL

 

3.01         Termination by Subsidiary following Change of Control. Notwithstanding anything in this Agreement to the contrary, if, within a period of one (1) year following a Change of Control, either:

 

	 	
			(a)

				
			the Subsidiary terminates the Employee other than for Good Cause; or

			

 

	 	
			(b)

				
			there occurs any circumstance of Constructive Dismissal, about which the Employee notifies the Subsidiary and the Parent in writing within ninety (90) days of the occurrence, which remains uncured by the Subsidiary after thirty (30) days from the date of such notification, and which results in Employee resigning from employment with the Subsidiary;

			

 

then:

 

	 	
			(c)

				
			on or before the day which is thirty (30) days after the Effective Date of Termination (the “Severance Payment Deadline Date”), the Subsidiary will pay to the Employee, or as the Employee may in writing direct, in cash or by certified cheque or bank draft, as liquidated damages, severance, compensation for loss of office, employment and benefits, and for termination of this Agreement, and in addition to any amounts payable pursuant to Section 3.04, an amount equal to TWO (2) TIMES the sum of:

			

 

	 	
			(i)

				
			the annual Base Salary then payable to the Employee,

			

 

	 	
			(ii)

				
			the aggregate amount of the bonus(es) (if any) paid to the Employee within the calendar year immediate preceding the Effective Date of Termination (or, if the Employee has not then been employed long enough to have been awarded any bonus, an amount equal to the targeted discretionary bonus stipulated in the Employment Agreement (if any)), but not including any “special” “one-time” or “extraordinary” bonuses designated as such by the Compensation Committee, plus

			

 

	 	
			(iii)

				
			an amount equal to the vacation pay which would otherwise be payable for the one (1) year period next following the Effective Date of Termination; and

			

 

	 	
			(d)

				
			until the earlier of ONE (1) YEAR following the Effective Date of Termination and the end of the month in which the Employee commences employment with another employer that provides reasonably equivalent benefits to its employees as those provided by the Subsidiary to the Employee hereunder (but subject to the Employee’s insurability), the Employee and the Employee’s dependents will continue to be eligible for all employee life, medical, extended health and dental insurance and other benefits (other than disability insurance plans/benefits) under benefit plans and programs then in effect for executive and key management employees of the Subsidiary and the Subsidiary will provide the same or, at its option, will purchase substantially comparable benefits outside its existing plans and programmes or will reimburse the Employee for payments made by the Employee for COBRA benefits during such period, provided, however, that nothing in this Section 3.01(d) will be construed as limiting the Subsidiary’s right to terminate or amend generally any such employee benefit plan(s) or programme(s) at any time.

			

 

	 	
			3.02

				
			         Form of Severance Payments.  The payment to which the Employee is entitled under Section 3.01(c) will be paid by the Subsidiary in a lump sum payment, subject to all required withholdings, deductions, and tax reporting requirements.

			

 

	 	
			3.03

				
			         No Mitigation by Employee.  The Employee will not be required to mitigate any damages the Employee may suffer by reason of the termination of the Employee’s employment hereunder (whether by actual termination by the Subsidiary or by virtue of the occurrence of an event of Constructive Dismissal) by the Subsidiary, nor will any mitigation of damages be taken into account in any action for actual or alleged damages by the Employee against the Subsidiary or the Parent for the amounts payable or benefits receivable pursuant to this Agreement. The Subsidiary and the Parent expressly agrees to waive the defence of failure to mitigate in any such action. No rights or benefits required to be provided to the Employee hereunder will be terminated or reduced as a result of the Employee’s employment by another employer, or engaging in any other business on the Employee’s own or on behalf of or with others, at any time after the termination of the Employee’s employment hereunder, nor will such obligations be affected by virtue of the death of the Employee subsequent to the termination of the Employee’s employment hereunder (in which event all amounts payable at and after the time of death will be payable to the Employee’s legal representatives) except to the extent specifically provided in this Agreement.

			

 

 

 

 

	 	
			3.04

				
			         Payment of Final Wages.  If section 3.01 is applicable then, upon the Severance Payment Deadline Date, the Subsidiary will, in addition to any payments required pursuant to section 3.01(c), pay to the Employee an amount equal to any accrued but unpaid Base Salary and vacation pay up to the Effective Date of Termination, and any expenses in excess of any outstanding expense advances made to the Employee for which an expense account has been submitted and remains unpaid, subject to all required withholdings, deductions, and tax reporting requirements.

			

 

	 	
			3.05

				
			         Reduction of Payment.  Notwithstanding anything else in the foregoing to the contrary, if the severance payment or any of the other payments provided for in this Agreement, together with any other payments which the Employee has a right to receive from the Subsidiary would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the United States Internal Revenue Code of 1986, as amended, or such similar set of laws (the “Code”)), the payments required to be made to the Employee pursuant to this Agreement will be reduced (reducing first the payments under Section 3.01(c) to the largest amount as will result in no portion of such payments being subject to the excise tax imposed by Section 4999 of the Code, provided, however, that the determination as to whether any reduction in the payments due under this Agreement pursuant to this Section 3.05 is necessary will be made in good faith by the Subsidiary’s then current tax services provider/advisor, and such determination shall be conclusive and binding on the Subsidiary, the Parent and the Employee with respect to the treatment of the payment for tax reporting purposes.

			

 

	 	
			3.06

				
			         Compliance with 409A.  To the maximum extent permitted by law, payments to, or for the benefit of, the Employee under this Agreement will be exempt from Section 409A of the Internal Revenue Code (e.g., as a separation pay plan that provides for separation pay only upon an involuntary separation from service without cause). To the extent that Section 409A is applicable to any such payments, the parties agree to administer all such payments in a manner consistent with Section 409A. Neither the Subsidiary nor the Parent, or any of their respective officers, directors, agents or affiliates, will be obligated, directly or indirectly, to the Employee or any other person for any taxes, penalties, interest or like amounts that may be imposed on the Employee or any other person on account of any amounts under this Agreement or on account of any failure to comply with any section of the Code, including Section 409A. Neither the Subsidiary nor the Parent makes any warranty or representation regarding the effect of section 409A on the Employee’s eligibility for or ability to receive any of these payments or the tax consequences to the Employee thereof, and the Employee is hereby specifically encouraged to consult with a legal or tax advisor of Employee’s choosing regarding section 409A.

			

 

ARTICLE FOUR – GUARANTEE OF THE PARENT 

 

4.01         Guarantee of the Parent. The Parent hereby guarantees to the Employee the due and timely performance by the Subsidiary of the obligations of the Subsidiary hereunder.

 

ARTICLE FIVE – RELEASE 

 

5.01         Requirement for Release. The obligation of the Subsidiary to make any payments to or for the benefit of the Employee hereunder, and of the Parent to guarantee the obligations of the Subsidiary hereunder are subject to the prior or concurrent due and valid execution and delivery by the Employee to the Subsidiary of the form of release attached hereto as Schedule “A”.

 

ARTICLE SIX - GENERAL 

 

6.01         Binding Agreement. This Agreement is personal to and will be binding on the parties and their respective successors in interest but will not be assignable by any party. This Agreement and all rights of the Employee hereunder will enure to the benefit of and be enforceable by the Employee’s heirs, executors, administrators or other legal personal representatives.

 

6.02         Notices. Any notice or other communication required or permitted to be given or made hereunder will be in writing and will be well and sufficiently given or made if:

 

	 	
			(a)

				
			enclosed in a sealed envelope and delivered in person to the party to whom it is addressed at the relevant address set forth below; or

			

 

	 	
			(b)

				
			sent by facsimile;

			

 

if to the Subsidiary, addressed to it at:

 

Corvus Gold Nevada Inc.

9088 Ridgeline Boulevard, Suite 103

Highlands Ranch, Colorado

U.S.A. 80129

Attention:          The Chief Executive Officer

Facsimile:          1-303-470-8706

 

 

 

 

with a copy for information purposes only to:

 

Corvus Gold Inc.

Suite 1750 – 700 West Pender Street

Vancouver, British Columbia

CANADA V6C 1G8

Attention:          Chief Financial Officer

Facsimile:          1-303-470-8706

 

If to the Parent, addressed to it at:

 

Corvus Gold Inc.

Suite 1750 – 700 West Pender Street

Vancouver, British Columbia

CANADA V6C 1G8

Attention:          Chief Financial Officer

Facsimile:          1-303-470-8706

 

if to the Employee, addressed to the Employee at:

 

Carl Brechtel

CO USA 

 

Any notice or other communication so given will be deemed to have been given and to have been received on the day of delivery, if delivered, and on the day of sending, if sent by facsimile or other means of recorded electronic communication (provided such delivery or sending is during normal business hours on a business day and, if not, then on the first business day thereafter). Any party may change its address for notice by notice to the other parties given in the manner aforesaid.

 

6.03        Modification and Waiver. No provision of this Agreement may be modified or amended unless such modification or amendment is authorized by the Board and is agreed to in writing by the Employee, the Subsidiary and the Parent. No waiver by any party of any breach by another party of any condition or provision of this Agreement will be deemed a waiver of similar or dissimilar provisions or conditions at the time or at any prior or subsequent time. No agreement or representations, oral or otherwise, express or implied, with respect to the employment of the Employee by the Subsidiary or the termination thereof have been made by any party which are not set forth expressly in this Agreement.

 

6.04      Entire Agreement. This Agreement contains all the terms and conditions agreed upon by the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings with respect thereto other than the Employment Agreement (which is intended to and will be interpreted in a manner consistent with this Agreement). Other than the Employment Agreement, there are no agreements collateral or supplementary hereto.

 

6.05        Law Governing. This Agreement has been made in Colorado and will be subject to and governed by the laws of the State of Colorado and the federal laws of the United States applicable therein. The parties hereby attorn to the jurisdiction of the arbitrators and courts of the State of Colorado with respect to any dispute or other matter arising hereunder.

 

6.06        Invalidity. The invalidity, illegality or unenforceability of any provision hereof will not in any way affect or impair the validity, legality or enforceability of the remaining provisions hereof.

 

6.07        Headings. The headings contained herein are for reference purposes only and will not in any way affect the construction or interpretation of this Agreement.

 

6.08        Severability. To the extent any provision of this Agreement is determined to be invalid or unenforceable in any jurisdiction, such provision will be deemed to be deleted from this Agreement as to such jurisdiction only, and the validity and enforceability of the remainder of such provision and of this Agreement will be unaffected.

 

IN WITNESS WHEREOF the parties have executed this agreement as of the date and year first above written.

 

 

 

 

CORVUS GOLD NEVADA INC.

 

	
			Per:

				
			/s/ Jeffrey A. Pontius

				 
	 	
			Authorized Signatory

				 

 

CORVUS GOLD INC. 

 

	Per:	/s/ Jeffrey A. Pontius	 
	 	Authorized Signatory	 
	 	 	 

 

	 	
			/s/ Carl Brechtel

				 
	 	
			Carl Brechtel

				 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule “A” Form of Required Release from Employee 

 

GENERAL RELEASE 

 

In exchange for the valuable and sufficient consideration specified in your Change of Control Agreement dated January 1, 2021, you, CARL BRECHTEL, hereby release and discharge CORVUS GOLD NEVADA INC., and its affiliates, predecessors, successors, and assigns, as well as all officers, directors, agents, attorneys, and employees of CORVUS GOLD NEVADA INC., and its affiliates, predecessors, successors, and assigns (collectively, the “Company”) from any and all claims, demands, actions, liabilities, damages, losses, costs, attorneys’ fees, or rights of any kind, whether known or unknown, that you have, have ever had, or may have through the date you sign this General Release (“Release”), including but not limited to those arising out of or related to your employment or termination of employment.

 

Scope of Release: 

 

This Release extends to and includes, among other things, any claims arising under Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., the Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., the Americans with Disabilities Act, 42 U.S.C. § 12101 et seq., the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the Employee Retirement Income Security Act, 29 U.S.C. § 1001 et seq., similar statutes in any states where you have worked or resided during your employment with the Company; as well as any other statutory, common law, contract, quasi contract or tort claims, including any claims for failure to pay wages, bonuses, or other forms of compensation and for recovery of attorneys’ fees under any legal theory.

 

This Release does not include claims that may not be released or waived as a matter of law, claims related to any already vested benefits under the terms of the Company’s benefit plans, or claims for enforcement of your specific rights under the terms of this Release or your Change of Control Agreement. This Release also does not prevent you from cooperating with, filing a charge with, or participating in any investigation or proceeding conducted by any governmental agency; however, you hereby waive the right to recover any money damages or other individual relief that may be obtained, by settlement, judgment, or otherwise, as a result of such a charge, investigation, or proceeding.

 

This Release shall not in any way be construed as an admission by the Company that it acted wrongfully with respect to you or any other person, or that you had or have any rights whatsoever against the Company. The Company specifically disclaims any liability to or any wrongful acts against you or any other person, on the part of itself or any of its affiliates, predecessors, successors, assigns, officers, directors, agents, attorneys, and employees.

 

Acceptance, Rescission, and Revocation Periods: 

 

You may take up to twenty-one (21) days to consider whether to sign this Release; although, you may sign it at any time before this period expires. You may consult with an attorney before signing this Release.

 

In addition, if you are age forty (40) or over as of the date you sign this Release, you further are entitled to revoke your release of claims or potential claims under the federal Age Discrimination in Employment Act by delivering a notice of your intent to revoke this Release within seven (7) calendar days following your signing of it to:

 

CORVUS GOLD NEVADA INC. c/o Corvus Gold Inc.

Suite 1750 – 700 West Pender Street

Vancouver, British Columbia

CANADA V6C 1G8

Attention: Chief Financial Officer

Fax: 1-303-470-8706

 

To be effective, such written notice must either be delivered by hand or by certified mail, return receipt requested, within such seven (7) day time period. The day on which you sign this Release shall count as the first day of the seven (7) day time period, and no allowance will be made should the last day of the time period fall on a weekend or holiday.

 

In the event you provide timely notice of your intent to rescind or revoke this Release, the Company may, in its discretion, declare the entire Release null and void. In which case, the Company will have no obligations to you under this Release or to pay you any amounts pursuant to your Change of Control Agreement, and you shall immediately repay any amounts paid to you as of that date by the Company under this Release or pursuant to your Change of Control Agreement.

 

 

 

 

Acknowledgment of Knowing and Voluntary Waiver and Release of Claims: 

 

You hereby affirm and acknowledge that you have read the foregoing Release, that you understand the meaning of its terms and their effect, and that the provisions of the Release are written in language you understand. If you are age forty (40) or over as of the date you sign this Release, you represent that you understand that this Release specifically refers to rights or claims arising under the federal Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., and that such Release does not extend to claims arising after the date of execution. You represent that you are entering into the Release freely and voluntarily, in exchange for valuable and sufficient consideration to which you are not otherwise entitled. You acknowledge that you have been advised you may take up to twenty-one (21) days to consider whether to enter into this agreement and to consult with an attorney before signing this Release.

 

Severability:

 

Should any part, term, provision, or aspect of this Release or any agreement relating to this Release be declared to be or determined by any court to be illegal or invalid, such part, term, provision, or aspect shall be applied to the fullest extent possible under the law, or, if that is not possible, the illegal or invalid part, term, provisions, or aspect shall be deemed not to be a part of this Release or any agreement relating to this Release, and the validity of the remaining parts, terms, provisions, or aspects shall not be affected.

 

Acknowledgment:

 

The persons below have read the foregoing Release, agree to the provisions it contains, acknowledge the sufficiency of the consideration and mutual obligations expressed herein, and hereby execute it voluntarily with full understanding of its consequences. In witness whereof, the undersigned have executed this Release and on the date shown below.

 

 

	Date:	January 1, 2021	 	Signed:	/s/ Carl Brechtel	 
	 	 	 	 	Carl Brechtel	 
	Date:	January 1, 2021	 	 	 	 
	 	 	 	CORVUS GOLD NEVADA INC.	 
	 	 	 	 	 	 
	 	 	 	By:	
			/s/ Jeffrey Pontius

				 
	 	 	 	Title: 	President & CEO

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