Document:

Exhibit
10.1

 

MSA TERMINATION AGREEMENT

 

This
MSA Termination Agreement (this “Agreement”) is made and entered into as of the
29th day of June, 2010, by and among Golden Minerals Company, a Delaware
corporation (“GMC”); Golden Minerals Services Corporation, formerly named Apex
Silver Mines Corporation, a Delaware corporation (“Manager”); Minera San
Cristóbal, S.A., a Bolivian sociedad anonima (“Company”);
Summit Minerals GmbH, formerly named Apex Metals Marketing GmbH, a Gesellschaft mit beschrankter Haftung organized under the
laws of Switzerland (“AMM”); SC Minerals Aktiebolag, a privat
aktiebolag organized under the laws of the kingdom of Sweden (“SCM”);
Sumitomo Corporation, a corporation organized under the laws of Japan (“Sumitomo”),
Comercial Metales Blancos AB, a privat aktiebolag
organized under the laws of the Kingdom of Sweden (“CMB”) and SC Minerals
Bolivia S.R.L., a limited liability company organized under the laws of Bolivia
(“SCMB”).  GMC, Manager, Company, AMM,
SCM, Sumitomo, CMB and SCMB are each referred to herein as a “Party” and,
collectively, as the “Parties”, with GMC and Manager being referred to herein
as the “GMC Parties” and Company, AMM, SCM, Sumitomo, CMB and SCMB being
referred to herein as the “Sumitomo Parties”.

 

Recitals

 

A.  The Parties are parties to certain or all of
the following agreements:

 

(1)           Management
Services Agreement among Company, AMM and Manager dated as of March 24,
2009 (as amended, the “MSA”), as amended by that certain letter agreement among
Company, AMM, Manager and Sumitomo dated October 1, 2009 (the “MSA
Amendment”);

 

(2)           Guaranty of
Sumitomo in favor of Manager dated as of March 24, 2009 (the “Sumitomo
Guaranty”);

 

(3)           Letter
Agreement regarding services for Manager’s affiliates and exploration employee
matters among Company, Manager and Sumitomo dated March 24, 2009 (the “Manager
Affiliates Letter Agreement”); and

 

(4)           Reorganized
Apex Guaranty of GMC in favor of Sumitomo, SCM, AMM, CMB and SCMB, dated March 24,
2009 (the “GMC Guaranty”).

 

The
MSA, Sumitomo Guaranty, Manager Affiliates Letter Agreement and GMC Guaranty
are referred to collectively herein as the “MSA Agreements”.  Capitalized terms not otherwise defined in
this Agreement have the meanings set forth in the MSA Agreements.

 

B.  The Parties have reached certain agreements
regarding termination of the MSA Agreements.

 

 

Agreement

 

In
consideration of the mutual covenants and conditions set forth herein and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Parties, intending to be legally bound, agree as
follows.

 

Article I

 

Payment, Termination and
Release

 

1.1           Termination Payment.  On June 30, 2010 (the “Effective Date”),
Company shall pay to Manager the sum of US $3,200,000.00, which payment (a) satisfies
the obligation of Company pursuant to the proviso in Section 13.7 of the
MSA to pay a termination fee of US $1,000,000.00, (b) includes an
incentive fee in the amount of US $525,000.00 (the “Incentive Fee”) payable by
Company to Manager for the six-month period commencing on January 1, 2010
and ending on the Effective Date, as estimated on the Effective Date in
accordance with the methodology set forth in Schedule A hereto (based on an
Incentive Fee Payment Percentage of 70%) and subject to adjustment pursuant to Section 1.2(a)(i),
(c) satisfies the obligation of Manager to pay a fee of US $30,000.00 to
Company in respect of MSC Services (as defined in the Manager Affiliates Letter
Agreement) for the period of July 1, 2010 through September 30, 2010,
and (d) satisfies the obligation of Company to pay a total amount of US
$75,000.00 (the “Study Fee Balance”) to Manager in respect of all fees
remaining to be paid under the AFE (defined below) for the completion of the
Feasibility Study (defined below). 
Provided Company has complied with its obligation under this Section 1.1,
no amount of Fee shall be due or payable after the Effective Date.  For the avoidance of doubt, no Annual
Incentive Fee shall be payable in respect of calendar year 2010.

 

1.2           Subsequent Settlement.

 

(a)           The Parties agree that, on July 31,
2010,

 

(i)            Company shall pay to
Manager, or Manager shall pay to Company, as applicable, such amount as shall
be required to be paid in order to cause the Incentive Fee to be based on the
Company’s actual cash cost of producing a tonne of concentrate in the first two
quarters of calendar year 2010 compared to the budget expectation for that
period, calculated in accordance with the methodology set forth in Schedule A
hereto, and

 

(ii)           Company shall pay to Manager
Reimbursable Expenses not previously paid and to the extent documented in
accordance with past practice.  Manager
and Company will concurrently provide for positive or negative adjustments, as
the case may be, for estimated Reimbursable Expenses from any previous month to
reflect actual amounts incurred, as previously contemplated by Section 4.3(b) of
the MSA and in accordance with past practice.

 

The payments referenced in this Section 1.2(a) shall
be set off against each other, so that only one net payment shall be made
pursuant to this Section 1.2(a) between Company and Manager.

 

2

 

(b)           Manager shall present to
Company its calculation of the payments due from Company and from Manager,
together with the calculation of the net payment due, pursuant to Section 1.2(a) on
or before July 20.  Company shall
deliver to Manager within seven days of receipt of the calculations a notice
stating that it agrees with the calculations or setting forth, in reasonable
detail, any dispute as to the calculations and the basis for such dispute.  A notice of Company setting forth a dispute
as to the calculations shall be deemed a Dispute Notice, and Company and Manager
shall proceed to resolve such dispute in accordance with Sections 4.4(g) and
(h) of the MSA.  If Company delivers
a Dispute Notice, no payments pursuant to Section 1.2 shall be made until
the amounts of such payments have been agreed by Company and Manager or
resolved as set forth herein.

 

1.3           Termination.  Provided that Company has complied with its
obligation under Section 1.1:

 

(a)           The MSA shall be terminated
effective on the Effective Date, provided that:

 

(i)            Sections 4.1 (only with
respect to the second, third and fourth sentences thereof), 10.1(b), 11.1,
11.2, 11.3(b) (only with respect to the proviso thereof), 11.4, 13.7, 14.1
and 14.2 of the MSA shall survive termination and remain in full force and
effect,

 

(ii)           Schedule F to the MSA shall
survive termination and remain in full force and effect until, and shall
terminate on, the earlier of December 31, 2010 and the date that Manager
sells the Plane (whether by a sale of the Plane or by the sale of Aero Lipez)
to a third party (which may include Company) (the “Aerolipez Termination Date”),

 

(iii)          Manager shall complete its
work in respect of the Feasibility Study (defined below), as set forth in this
Agreement, and

 

(iv)          The indemnity of Company set
forth in the MSA Amendment shall survive termination and remain in full force
and effect.

 

(b)           The Manager Affiliates
Letter Agreement shall be terminated effective (i) with respect to all
Exploration Services and those MSC Services provided to Manager Affiliates
other than Aerolipez SRL, on September 30, 2010 or such earlier date as
Manager elects by written notice to Company, and (ii) with respect to MSC
Services provided to Aerolipez SRL, on the Aerolipez Termination Date;
provided, however, that, to the extent any MSC Services are provided to
Aerolipez SRL after September 30, 2010, Manager shall pay to Company a fee
of $2,000.00 per month (or portion of a month) after September 30, 2010
during which such MSC Services are provided, instead of the US $10,000 monthly
fee set forth in the Manager Affiliates Letter Agreement.  Manager and Company agree that,
notwithstanding the foregoing, Manager shall, and shall cause Manager
Affiliates to, cause the full and unconditional release and discharge of any
employee of Company from his functions, duties, responsibilities and
liabilities in his capacity as director or manager of Manager and Manager
Affiliates, as applicable (including any other fiduciary capacity with any such
Entity), as soon as practicable but in any 

 

3

 

event no later than (x) with respect to Manager
Affiliates other than Aerolipez SRL, September 30, 2010, and (y) with
respect to Aerolipez SRL, the Aerolipez Termination Date.

 

(c)           The Sumitomo Guaranty shall
be terminated effective on the Effective Date, provided that (i) the
Sumitomo Guaranty shall not be terminated and shall remain in full force and
effect with respect to (and only with respect to) (x) the obligations of
Company under the MSA that survive termination and (y) the obligations of
Company under this Agreement, and (ii) notwithstanding anything herein to
the contrary, the Sumitomo Guaranty shall be terminated (including, without
limitation, with respect to the obligations of Company under the MSA that
survive termination and the obligations of Company under this Agreement) and be
of no further effect on June 30, 2020 (or, if later, the expiration of the
applicable statutes of limitation).

 

(d)           The GMC Guaranty shall be
terminated effective on the Effective Date with respect to (and only with
respect to) the obligations of Manager under the MSA (the “MSA Obligations”),
provided that (i) the GMC Guaranty shall not be terminated and shall
remain in full force and effect with respect to (and only with respect to) (x) the
MSA Obligations that survive termination and (y) the obligations of
Manager under this Agreement, and (ii) notwithstanding anything herein to
the contrary, the GMC Guaranty shall be terminated with respect to (and only
with respect to) all MSA Obligations (including, without limitation, with
respect to the MSA Obligations that survive termination) and the obligations of
Manager under this Agreement effective on June 30, 2020 (or, if later, the
expiration of the applicable statutes of limitation).  For the avoidance of doubt, nothing in this
Agreement shall affect the GMC Guaranty as it relates to, and the GMC Guaranty
remains in full force and effect with respect to, any “Guaranteed Obligations”
(as defined under the GMC Guaranty) to be performed under any document,
instrument or agreement other than the MSA or this Agreement.

 

1.4           Releases.

 

(a)           Provided that Company has
complied with its obligation under Section 1.1, as of the Effective Date
each of the GMC Parties (on its own behalf and on behalf of the Manager
Affiliates (as defined in the Manager Affiliates Letter Agreement)) knowingly
and voluntarily releases each of the Sumitomo Parties, its officers, directors,
Affiliates, successors and assigns, from any and all claims, suits, demands,
actions or causes of action of any kind or nature whatsoever, whether the
existence of such claims or the underlying facts are known or unknown, whether
in law or at equity, which such party now has or claims, or might in the future
have or claim (collectively, the “GMC Claims”), pertaining to or arising out of
the MSA Agreements other than GMC Claims arising after the Effective Date and
pertaining to or arising out of the provisions of the MSA Agreements that
survive termination of the MSA Agreements or pertaining to or arising out of
any breach or default by any Sumitomo Party under this Agreement, which claims
are not released hereby.

 

(b)           Provided that Company has
complied with its obligation under Section 1.1, as of the Effective Date
each of the Sumitomo Parties knowingly and voluntarily releases each of the GMC
Parties, its officers, directors, Affiliates, successors and assigns, from any
and all claims, suits, demands, actions or causes of action of any kind or
nature whatsoever, whether the existence of such claims or the underlying facts
are known or unknown, whether in law or at equity, which such party now has or
claims, or might in the future have or claim (collectively, 

 

4

 

the “Sumitomo Claims”), pertaining to or arising out
of the MSA Agreements other than Sumitomo Claims arising after the Effective
Date and pertaining to or arising out of the provisions of the MSA Agreements
that survive termination of the MSA Agreements or pertaining to or arising out
of any breach or default by any GMC Party under this Agreement, which claims
are not released hereby.

 

Article II

 

Transition Matters

 

2.1           60 K Feasibility Study.  Manager is managing the performance of third
party services related to the completion of a feasibility study (the “Feasibility
Study”) regarding the potential expansion of the San Cristobal concentrator and
related facilities to a throughput capacity of 60,000 tonnes of ore per day,
pursuant to MSC Authorization For Expenditure for the 60K Expansion Feasibility
Study (the “AFE”).  Manager’s expenses
for work on the Feasibility Study are paid by Company pursuant to the AFE, and
are not part of the Fee or the Study Fee Balance.  Company and Manager agree that Manager will
complete the work contemplated by the AFE, and Company will continue
reimbursing Manager for its expenses incurred pursuant to the AFE in accordance
with past practice (it being understood that any and all fees remaining to be
paid to Manager pursuant to the AFE shall be deemed included in the Study Fee
Balance and paid pursuant to Section 1.1). 
Company and Manager anticipate that Manager’s work pursuant to the AFE
will be completed in July 2010. 
Manager hereby irrevocably assigns to Company all right, title and
interest of Manager (now or hereafter existing) to the Feasibility Study and
the contract pursuant to which such Feasibility Study was performed.  Manager shall perform such further acts and
execute and deliver such further documents, in each case as reasonably
requested by Company, to give effect to the foregoing assignment.

 

2.2           Reimbursable Expenses.  As contemplated by Section 13.7(a)(ii) of
the MSA, following the Effective Date, Manager shall continue to prepare
monthly invoices for and provide documentation with respect to Reimbursable
Expenses attributable to Services performed prior to the Effective Date in
accordance with past practice, and Company shall pay such invoices in
accordance with past practice.

 

2.3           Cooperation.  Each of the Parties shall take all actions,
and do all things, reasonably necessary, proper or advisable on its part to
cooperate with the other Parties and make effective the actions contemplated by
this Agreement, including (i) executing and delivering any and all further
materials, documents and instruments as may be reasonably requested by another
Party, and (ii) providing information (including without limitation
financial and tax information), records and documents (electronic or otherwise)
regarding Company or Manager or their respective subsidiaries to other Parties
as appropriate or required in connection with the Parties’ consummation of the
transactions contemplated hereby.

 

5

 

Article III

 

Representations and
Warranties

 

3.1           Representations of Parties.  Each GMC Party represents and warrants to
each Sumitomo Party, and each Sumitomo Party represents and warrants to each
GMC Party, that as of the date of this Agreement and as of the Effective Date:

 

(a)           it is duly incorporated or
registered and validly existing under the laws of the jurisdiction in which it
was formed;

 

(b)           it has full organizational
power and authority to conduct its business, to own its properties and perform
its obligations under this Agreement;

 

(c)           the execution, delivery and
performance of its respective obligations under this Agreement have been duly
authorized by all necessary corporate or other organizational action, and this
Agreement has been duly executed and delivered by it and is a valid, legal and
binding obligation of such Party, enforceable against it in accordance with its
terms, except as such enforcement may be limited by bankruptcy, insolvency,
moratorium or other laws of general application affecting the rights of
creditors;

 

(d)           neither the execution nor
the delivery by such Party of this Agreement nor the performance by that Party
if its obligations hereunder (i) conflicts with, violates, or results in a
breach of any Law applicable to such Party; (ii) conflicts with, violates
or results in a breach of any material term or condition of any judgment,
decree, material agreement or material instrument to which such Party is a
party or by which such Party or any of its properties or assets are bound, or
constitutes a default under any such judgment, decree, material agreement or
material instrument; or (iii) violates any provision of its organizational
documents;

 

(e)           no approval, authorization,
order or consent of, or declarations, registration or filing with, any
Governmental Authority is required for the valid execution, delivery and
performance by that Party of this Agreement, except such as have been duly
obtained or made; and

 

(f)            there is no action, suit or
proceeding before or by any court or Governmental Authority or, to the Party’s
knowledge, threatened against such Party, or its Affiliates, which is likely to
result in an unfavorable decision, ruling or finding that would materially and
adversely affect the validity or enforceability of this Agreement, or would
materially and adversely affect the performance by such Party of its
obligations hereunder.

 

Article IV

 

Miscellaneous

 

4.1           Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401
OF THE NEW YORK GENERAL OBLIGATIONS LAW, WITHOUT REGARD TO ANY CHOICE OR
CONFLICTS OF LAW PROVISION OR RULE 

 

6

 

THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY
JURISDICTION OTHER THAN THE STATE OF NEW YORK.

 

4.2           Submission to Jurisdiction;
Waiver of Jury Trial; Service of Process.

 

(a)           Each Party hereby
(i) submits to the exclusive jurisdiction of any New York State or United
States federal court located in the Borough of Manhattan, The City of New York,
for the purpose of any Legal Proceeding arising out of or relating to this
Agreement, (ii) agrees that all claims in respect of any such Legal
Proceeding may be heard and determined in such courts, and
(iii) irrevocably waives (to the extent permitted by applicable Law) any
objection which it now or hereafter may have to the laying of venue of any such
Legal Proceeding brought in any of the foregoing courts, and any objection on
the ground that any such Legal Proceeding in any such court has been brought in
an inconvenient forum.

 

(b)           EACH PARTY HERETO HEREBY
AGREES TO WAIVE THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR
CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT OR
THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY LEGAL PROCEEDING OF ANY TYPE
BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR PARTIES, WHETHER WITH
RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE.  EACH PARTY AGREES THAT ANY SUCH CLAIM OR
CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY.  WITHOUT IN ANY WAY LIMITING THE FOREGOING,
THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS
WAIVED BY OPERATION OF THIS SECTION 4.2(B) AS TO ANY ACTION,
COUNTERCLAIM, OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO
CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR ANY PROVISION
HEREOF.  THIS WAIVER SHALL APPLY TO ANY
SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS
AGREEMENT.  A COPY OF THIS SECTION 4.2(B) MAY BE
FILED WITH ANY COURT AS WRITTEN EVIDENCE OF THE WAIVER OF THE RIGHT TO TRIAL BY
JURY AND CONSENT TO TRIAL BY COURT.

 

4.3           Notices.  Unless otherwise provided herein, all
notices, requests, consents or other communications which any Party may desire
or be required to give hereunder shall be in writing in the English language
and shall be delivered by hand or overnight courier service, mailed by
registered or certified mail, or sent by facsimile transmission, as follows:

 

To Company:                                                                  Minera San
Cristóbal, S.A.

Calle 15, Calacoto

Torre Ketal, Piso 5

La Paz, 15

Bolivia

Attention:  President

Tel:  +591-2-243-3800

Fax:  +591-2-243-3737

Email: haruo.matsuzaki@minerasancristobal.com

 

7

 

With a copy to:                                                       Sumitomo
Corporation

8 11, Harumi, 1 chome,

Chuo ku, Tokyo, 104 8610 Japan

Attention:  General Manager of the San
Cristóbal Project Department

Fax:  +81 3 5166 6423

Email: takahiro.izuta@sumitomocorp.co.jp

 

To Manager:                                                                     Golden Minerals
Services Corporation

350 Indiana Street, Suite 800

Golden, Colorado 80401

U.S.A.

Attention:  President

Tel:  (303) 839-5060

Fax:  (303) 839-5907

Email: jeffrey.clevenger@goldenminerals.com

 

Any
notice given as provided in this Agreement shall be in writing and may be
personally served, telexed or sent by telefacsimile or United States mail or
courier service and shall be deemed to have been given when delivered in person
or by courier service and signed for against receipt thereof, upon receipt of
telefacsimile or telex with evidence of proper transmission to and of receipt
by the addressee.

 

Notwithstanding
anything to the contrary, delivery of notice by electronic transmission via
email between or among any of Manager, Company and AMM with a notation in the
subject line “MSC Management Services Agreement — Formal Notice” shall be
effective, provided that such notice be followed by facsimile
transmission within three (3) Business Days after the delivery of
such electronic notice.

 

4.4           Payments.              All payments required to be
made pursuant to this Agreement shall be made by wire transfer of immediately
available funds in US dollars to such account as the Party receiving such
payment shall specify in writing (which may be by email) to the Party making
such payment.

 

4.5           Obligations of Subsidiaries.  Each of GMC and Sumitomo hereby agrees to
cause its subsidiaries that are Parties to this Agreement to perform its
obligations hereunder.

 

4.6           Assignment.  This Agreement may not be assigned by any
Party hereto without the other Parties’ prior written consent.

 

4.7           Entire Agreement;
Severability.  This
Agreement constitutes the entire understanding between the Parties hereto with
respect to the subject matter hereof and supersedes in its entirety any prior
agreements between the Parties with respect to the subject matter hereof
whether written or oral including, but not limited to, the Management and
Services Agreement between Manager and Company, dated September 25,
2006.  No waiver or amendment or
modification of the terms hereof shall be valid unless signed in writing by the
Parties hereto and only to the extent therein set forth.  If any term or provision of this Agreement

 

8

 

or any portion of a term or provision hereof or the
application thereof to any Person or circumstance shall, to any extent, be
invalid or unenforceable, the remainder of this Agreement, or the application
of such term or provision or portion thereof to Persons or circumstances other
than those as to which it is held invalid or unenforceable, shall not be
affected thereby, and each term and provision of this Agreement and each
portion thereof shall be valid and enforced to the fullest extent permitted by
law.

 

4.8           No Waiver.  The failure of any Party to enforce at any
time or for any period of time any other provision of this Agreement shall not
be construed as their waiver of such provision or the right of a Party to
subsequently enforce each and every provision.

 

4.9           Binding Effect.  This Agreement shall be binding upon and
inure to the benefit of the Parties hereto and their respective legal
successors and permitted assigns.

 

4.10         Headings and Titles.  Titles and headings appearing at the
beginning of any subdivision are for convenience only and for not constitute
any part of any such subdivision and shall be disregarded in construing the
language contained in this Agreement.

 

4.11         Amendment; Counterparts.  This Agreement may be amended only in writing
signed by all of the Parties.  This
Agreement may not be executed in separate counterparts.

 

9

 

IN WITNESS WHEREOF, this Agreement has been
executed by the Parties hereto as of the date first written above.

 

	
   

  	
  GOLDEN MINERALS COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jerry W. Danni

  
	
   

  	
   

  	
  Name:

  	
  Jerry W. Danni

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  GOLDEN MINERALS SERVICES CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jerry W. Danni

  
	
   

  	
   

  	
  Name:

  	
  Jerry W. Danni

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  MINERA SAN CRISTÓBAL, S.A.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Haruo Matsuzaki

  
	
   

  	
   

  	
  Name:

  	
  Haruo Matsuzaki

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SUMMIT MINERALS GMBH

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Takunari Ikegami

  
	
   

  	
   

  	
  Name:

  	
  Takunari Ikegami

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SUMITOMO CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Takahiro Izuta

  
	
   

  	
   

  	
  Name:

  	
  Takahiro Izuta

  
	
   

  	
   

  	
  Title:

  	
  Corporate Officer

  

 

10

 

	
   

  	
  SC MINERALS AKTIEBOLAG

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Takahiro Izuta

  
	
   

  	
   

  	
  Name:

  	
  Takahiro Izuta

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COMERCIAL METALES BLANCOS AB

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Takahiro Izuta

  
	
   

  	
   

  	
  Name:

  	
  Takahiro Izuta

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  SC MINERALS BOLIVIA S.R.L.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Haruo Matsuzaki

  
	
   

  	
   

  	
  Name:

  	
  Haruo Matsuzaki

  
	
   

  	
   

  	
  Title: 

  	
  President

  

 

11Exhibit 10.3.3

 

AMENDMENT TO THE

 EMPLOYMENT
AGREEMENT WITH RANDEL G. OWEN

 

THIS AMENDMENT (“Amendment”), effective on the 18th day of May, 2010 is made by and between
Emergency Medical Services Corporation, a Delaware corporation (the “Company”), and Randel G. Owen (“Executive”),
in order to amend the Employment Agreement heretofore entered into between
Emergency Medical Services, L.P. (“EMS L.P.”)
and Executive, as assigned by EMS L.P. to EMSC on February 10, 2005, and
as amended on January 1, 2009 and on March 12, 2009 (collectively the
“Employment Agreement”).

 

WHEREAS,
the Company and the Executive desire to amend the Employment Agreement to amend
the the compensation payable to Executive;

 

NOW,
THEREFORE, the Agreement is hereby amended as follows:

 

1.             Subsection A of Section 4, “Compensation,”
shall be amended and restated to read in its entirety as follows:

 

A.            As full
compensation for all services rendered by the Executive pursuant to this
Agreement, the Company shall pay to the Executive a salary of Four Hundred
Fifty Thousand Dollars ($450,000) per year (“Base Salary”), less applicable
withholdings. The Base Salary shall be payable on a biweekly basis. Executive’s
compensation shall be reviewed by the Board annually during the Company’s
normal review period, beginning in the year following the first anniversary of
the Effective Date.

 

2.             Except as specifically set forth herein,
all of the terms and conditions of the Employment Agreement are declared by the
parties to be in full force and effect without change.

 

IN
WITNESS WHEREOF, the Company and Executive have executed this Agreement, in
multiple counterparts, each of which shall be deemed an original, effective as
of May 18, 2010.

 

EMERGENCY
MEDICAL SERVICES CORPORATION

 

 

	
  By:

  	
  /s/
  William A. Sanger

  	
   

  
	
   

  	
  Name:  William
  A. Sanger

  	
   

  
	
   

  	
  Title:    Chief
  Executive Officer

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EXECUTIVE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Randel G. Owen

  	
   

  
	
   

  	
  Randel
  G. Owen

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00176-of-00352.parquet"}]]