Document:

Exhibit 10.4

 

AMENDMENT
AGREEMENT

 

This
Amendment Agreement (this "Agreement"), dated as of September 1, 2016, is made by and between JGB (Cayman) Waltham
Ltd. (the "JGB Waltham"), JGB (Cayman) Concord Ltd. (“JGB Concord”), InterCloud Systems, Inc.,
a Delaware corporation (the "Company"), VaultLogix, LLC, a Delaware limited liability company (“VaultLogix”
and together with the Company, the “Borrowers”), and each of the Guarantors signatory hereto (the “Guarantors”).

 

WHEREAS,
JGB Waltham is the holder of the Second Amended and Restated Senior Secured Convertible Debenture due May 31, 2019, in the original
principal amount of $7,500,000 (as may be subsequently amended, amended and restated, supplemented or otherwise modified from
time to time in accordance with its provisions, the “December Debenture”) and 0.67% Senior Secured Note due
May 31, 2019, in the original principal amount of $2,745,000 (the “December Note”);

 

WHEREAS,
the December Debenture was originally issued pursuant to that certain Securities Purchase Agreement dated as of December 29, 2015,
by and among JGB Waltham and the Company (as the same may be amended, amended and restated, supplemented or otherwise modified
from time to time in accordance with its provisions, the "Securities Purchase Agreement") and the December Note
is deemed issued pursuant to the Securities Purchase Agreement;

 

WHEREAS,
the Company’s obligations under the December Debenture, the December Note and the other Transaction Documents (as defined
in the Securities Purchase Agreement) are unconditionally guaranteed by each of the Guarantors pursuant to a Subsidiary Guaranty
dated December 29, 2015 (the “December Subsidiary Guaranty”) and VaultLogix executed a joinder to the
December Subsidiary Guaranty as May 23, 2016 (the “VL Guaranty Joinder”);

 

WHEREAS,
as security for all of the indebtedness and obligations due to JGB Waltham under the December Debenture and the December Note
and the other Transaction Documents (collectively, the "December Obligations"), Company and the Guarantors executed
and delivered to JGB Waltham a certain Security Agreement dated as of December 29, 2015 (as the same may be amended, amended and
restated, supplemented or otherwise modified from time to time in accordance with its provisions, the "December Security
Agreement"), granting to JGB Waltham a security interest in the collateral, as defined in the December Security Agreement
(the "December Security Agreement Collateral") and VaultLogix executed a joinder to the December Security Agreement
as of May 23, 2016 (together with the VL Guaranty Joinder, the “VL Joinders”);

 

     

     

    

 

WHEREAS,
JGB Concord is the holder of the Amended and Restated Senior Secured Convertible Note due May 31, 2019, in the original principal
amount of $11,601,054.62 made by the Company and VaultLogix, as co-borrowers (as may be subsequently amended, amended and restated,
supplemented or otherwise modified from time to time in accordance with its provisions, the “February Convertible Note”)
and 0.67% Senior Secured Note due May 31, 2019, in the original principal amount of $5,220,475 made by the Company and VaultLogix,
as co-borrowers (the “February Note” and collectively with the December Debenture, December Note and February
Convertible Note, the “JGB Notes”);

 

WHEREAS,
the February Convertible Note was issued pursuant to the Securities Exchange Agreement dated as of February 18, 2016 (as the same
may be amended, amended and restated, supplemented or otherwise modified from time to time in accordance with its provisions,
the "Securities Exchange Agreement"), by and among JGB Concord, VaultLogix and the Company, and the February
Note is deemed issued pursuant to the Securities Exchange Agreement;

 

WHEREAS,
as security for all of the indebtedness and obligations due to JGB Concord under the February Convertible Note, the February Note
and the other Operative Documents (as defined in the Securities Exchange Agreement) (collectively, the "February Obligations"),
VaultLogix executed and delivered to JGB Concord a certain Security Agreement dated as of February 18, 2016 (as the same may be
amended, amended and restated, supplemented or otherwise modified from time to time in accordance with its provisions, the "February
Security Agreement"), granting to JGB Concord a security interest in the collateral, as defined in the February Security
Agreement (the "February Security Agreement Collateral" and together with the December Security Agreement Collateral,
the “Collateral”);

 

WHEREAS,
on May 23, 2016, each of the Guarantors unconditionally guaranteed the February Obligations pursuant to a Subsidiary Guaranty
(the “February Subsidiary Guaranty”) and each of the Guarantors executed a joinder to the February Security
Agreement (the “February Guarantor Joinders”);

 

WHEREAS,
on August 25, 2016, JGB Waltham, by written notice to the Company and each Guarantor, declared an Event of Default pursuant to
Section 8(a)(ii) of the December Debenture as a result of the Company’s failure to meet the Consolidated EBITDA covenant
set forth in Section 7(b) of the December Debenture for the quarterly period ended June 30, 2016, and an Event of Default pursuant
to Section 2(a)(iii) of the December Note as a result of the occurrence of the foregoing Event of Default under the December Debenture
(together the “December Specified Defaults”) and accelerated all of the December Obligations;

 

WHEREAS,
on August 25, 2016, JGB Concord, by written notice to the Borrowers and each Guarantor, declared an Event of Default under Section
8(a)(ix) of the February Convertible Note as a result of the occurrence of the December Specified Defaults, an Event of Default
under each Section 2(a)(ii) and Section 2(a)(iii) of the February Note, in each case, as a result of the occurrence of the December
Specified Defaults (collectively, the “February Specified Defaults” and collectively with the December Specified
Defaults, the “Specified Defaults”) and accelerated all of the February Obligations;

 

    	 	2	 

     

    

 

WHEREAS,
as a result of the Specified Defaults, JGB Concord and JGB Waltham took possession of certain cash collateral for the JGB Notes
(the “Cash Collateral”) held on deposit in certain deposit accounts with PNC Bank, N.A. subject to deposit
account control agreements in favor of JGB (the “Cash Collateral Accounts”); and

 

WHEREAS,
the Borrowers have requested that JGB waive the Specified Defaults, agree to an allocation for the application of the Cash Collateral
to the partial satisfaction of the December Obligations and February Obligations, and to amend certain provisions of the JGB Notes;

 

NOW,
THEREFORE, in consideration of the premises set forth above and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:

 

1.         Acknowledgments with respect to the December Debenture and December Note. The
Company, the Guarantors and VaultLogix acknowledge and agree that:

 

1.1         Defaults.
The December Specified Defaults have occurred and are continuing.

 

1.2         Transaction Documents. The December Debenture,
the December Note, the Securities Purchase Agreement, the December Subsidiary Guaranty, the December Security Agreement, the VL
Joinder, the other Transaction Documents and all other agreements, instruments and other documents executed in connection with
or relating to the December Obligations or the December Security Agreement Collateral (the "December Debenture
Documents") are legal, valid, binding and enforceable against the Company, the Guarantors and VaultLogix in accordance
with their terms.

 

1.3         Obligations.
The December Obligations are not subject to any setoff, deduction, claim, counterclaim or defenses of any kind or character whatsoever.

 

1.4         Collateral.
JGB Waltham has valid, enforceable and perfected security interests in and liens on the December Security Agreement Collateral,
as to which there are no setoffs, deductions, claims, counterclaims or defenses of any kind or character whatsoever.

 

1.5         Right
to Accelerate Obligations. As a result of the December Specified Defaults, the JGB Waltham has the right to accelerate
the maturity and demand immediate payment of the December Obligations.

 

1.6         Holder Conduct. JGB Waltham has fully and
timely performed all of its obligations and duties in compliance with the December Debenture Documents and applicable law, and
has acted reasonably, in good faith and appropriately under the circumstances.

 

    	 	3	 

     

    

 

2.         Acknowledgments with respect to the February Convertible Note and February Note. The
Borrowers and each Guarantor acknowledge and agree that:

 

2.1         Defaults.
The February Specified Defaults have occurred and are continuing.

 

2.2         Transaction
Documents. The February Convertible
Note, the February Note, the Securities Exchange Agreement, the February Security Agreement, the February Subsidiary Guaranty,
the February Guarantor Joinders, the other Operative Documents and all other agreements, instruments and other documents executed
in connection with or relating to the February Obligations or the February Security Agreement Collateral (the "February
Note Documents") are legal, valid, binding and enforceable against the Borrowers in accordance with their terms.

 

2.3         Obligations.
The February Obligations are not subject to any setoff, deduction, claim, counterclaim or defenses of any kind or character whatsoever.

 

2.4         Collateral.
JGB Concord has valid, enforceable and perfected security interests in and liens on the February Security Agreement Collateral,
as to which there are no setoffs, deductions, claims, counterclaims or defenses of any kind or character whatsoever.

 

2.5         Collateral.
JGB Concord has valid, enforceable and perfected security interests in and liens on the February Security Agreement Collateral,
as to which there are no setoffs, deductions, claims, counterclaims or defenses of any kind or character whatsoever.

 

2.6         Right
to Accelerate Obligations. As a result of the February Specified Defaults, JGB Concord has the right to accelerate
the maturity and demand immediate payment of the February Obligations.

 

2.7         Holder Conduct. JGB Concord has fully and
timely performed all of its obligations and duties in compliance with the February Note Documents and applicable law, and has
acted reasonably, in good faith and appropriately under the circumstances.

 

3.         Application
of Cash Collateral to the February Obligations and the December Obligations.

 

3.1         Outstanding
Principal Balances. The parties agree that as of August 25, 2016, immediately prior to the acceleration of the JGB Notes,
the outstanding principal balance of the JGB Notes were as follows:

 

(a)         February
Convertible Note - $11,601,055

 

(b)         February
Note - $4,930,449

 

(c)         December
Debenture - $5,930,555

 

(d)         December
Note - $2,592,500

 

    	 	4	 

     

    

 

3.2         Application
of Cash Collateral.

 

(a)         An
amount of the Cash Collateral equal to $5,176,971.03 shall be applied to the satisfaction in full of the entire outstanding principal
balance of the February Note and all accrued and unpaid interest thereon.

 

(b)         An
amount of Cash Collateral equal to $7,013,083.59 shall be applied to the satisfaction of $6,600,549.26 of the outstanding principal
balance of the February Convertible Note. After giving effect to the foregoing, the outstanding principal balance of the February
Convertible Note shall be $5,000,505.74. The accrued and unpaid interest on the February Convertible Note shall remain outstanding
and unaffected by the foregoing and shall be payable when due in accordance with the terms of the February Note.

 

(c)         Upon
consummation of the Dominion Transactions (as defined below), JGB will promptly return an amount of the Cash Collateral equal
to $2,000,000 to the Borrowers (the “Remaining Cash”). Until such time that JGB returns the remaining cash
to the Borrowers, JGB shall be entitled to hold such Remaining Cash as collateral for the December Obligations and the February
Obligations and, to the extent that the Dominion Transactions have not been consummated prior to September 16, 2016, JGB shall
be entitled to apply the Remaining Cash to the reduction of the outstanding February Obligations and/or December Obligations (whether
or not any events of defaults have then occurred or are then continuing) as JGB determines in its sole discretion. The Company
shall pay a cash fee to JGB equal to $150,000 upon the consummation of a Dominion Transaction, which JGB may deduct from the Remaining
Cash. For purposes hereof, “Dominion Transactions” means the acquisition by Dominion Capital LLC (or one if
its affiliates) from JGB Concord of $2,000,000 of the principal amount of the February Convertible Note (but not any related liens
or security interests of JGB Concord or any guaranties of the February Convertible Note) on terms acceptable to JGB Concord in
its sole discretion, including, without limitation, the entry into a subordination agreement by Dominion Capital LLC in favor
of JGB. After the consummation of the Dominion Transaction the outstanding principal of the February Convertible Note shall be
$3,000,505.74 (assuming that there are no reductions in the principal amount of the February Convertible Note prior to the consummation
of the Dominion Transactions).

 

(d)         None
of the Cash Collateral shall be applied to the December Debenture or December Note and, for the avoidance of doubt, there shall
be no reduction in the outstanding principal balance of the December Debenture or the December Note.

 

    	 	5	 

     

    

 

4.         Waivers
of the Specified Defaults.

 

4.1         December
Specified Defaults. As of the Effective Date (as defined below), JGB Waltham hereby grants a one-time waiver of the provisions
of Section 8(a)(ii) of the December Debenture and Section 2(a)(ii) of the December Note, in each case, solely to permit the Specified
Defaults.

 

4.2         February
Specified Defaults. As of the Effective Date, JGB Concord hereby grants a one-time waiver of the provisions of Section 8(a)(ix)
of the February Convertible Note and Sections 2(a)(ii) and 2(a)(iii) of the February Note, in each case, solely to permit the
Specified Defaults.

 

4.3         Rescission
of Acceleration. As of the Effective Date, each of JGB Waltham and JGB Concord, as result of the waivers set forth above and
after giving effect to application of the Cash Collateral to the February Obligations pursuant to Section 3 of this Agreement,
rescind the acceleration of the December Obligations and the February Obligations, respectively.

 

4.4         Limitation
of Waivers. The waivers set forth above shall be limited precisely as written and relate solely to the provisions of Section
8(a)(ii) of the December Debenture, Section 2(a)(ii) of the December Note, Section 8(a)(ix) of the February Convertible Note and
Sections 2(a)(ii) and 2(a)(iii) of the February Note, in each case, solely with respect to the Specified Defaults in the manner
and to the extent described above and nothing in this Agreement shall be deemed to:

 

(a)         constitute
a waiver of compliance by the Borrowers or any Guarantor with respect to any other term, provision or condition of the December
Debenture Documents or the February Note Documents;

 

(b)         constitute
a continuing waiver of the provisions of Section 8(a)(ii) of the December Debenture, Section 2(a)(ii) of the December Note, Section
8(a)(ix) of the February Convertible Note and/or Sections 2(a)(ii) and 2(a)(iii) of the February Note; or

 

(c)         prejudice
any right or remedy that JGB may now have or may have in the future under or in connection with the December Debenture Documents
or the February Note Documents.

 

5.         Amendments
to the JGB Notes; Reconfirmations.

 

5.1         Amendment
of the December Debenture. The December Debenture shall be amended and restated in substantially the form attached hereto
as Exhibit A.

 

5.2         Amendment
of the December Note. The December Note shall be amended and restated in substantially the form attached hereto as Exhibit
B.

 

5.3         Amendment
of the February Convertible Note. The February Convertible Note shall be amended and restated in substantially the form attached
hereto as Exhibit C.

 

    	 	6	 

     

    

 

5.4         Reconfirmation
of Liens and Security Interest – December Obligations. Nothing herein shall impair or limit the continuation of the
liens and security interests granted to JGB Waltham under the December Security Agreement, the other Security Documents (as defined
in the Securities Purchase Agreement), pursuant to the Consent, dated March 9, 2016, by and among the Company and JGB Waltham,
any deposit account control agreement with any depositary bank or any other December Debenture Document (collectively, the “December
Security Instruments”), which liens are continued in full force and effect pursuant to and as provided therein, and
which liens secure all December Obligations. For the avoidance of doubt, the Company, VaultLogix and each Guarantor agrees that
all references to the “Obligations” in any December Security Instrument include the December Note and the December
Debenture as amended hereby. The Company, VaultLogix and each Guarantor acknowledges the continuing existence and priority of
all liens and security interests granted, conveyed, and assigned pursuant to the December Security Instruments to which it is
a party, in accordance with such instruments, and agrees to perform such acts and duly authorize, execute, acknowledge, deliver,
file, and record such additional documents and certificates as JGB Waltham reasonably requests in order to perfect, preserve,
and protect such liens and security interests.

 

5.5         Reconfirmation
of Guarantees – December Obligations. Each Guarantor and VaultLogix acknowledges the amendment of the December Debenture
and the December Note pursuant to this Agreement and ratifies and confirms that the December Subsidiary Guaranty is not released,
diminished, impaired, reduced, or otherwise adversely affected by such amendment and continues to guarantee and assure the full
payment and performance of all present and future obligations under the December Debenture, the December Note and the other December
Debenture Documents. For the avoidance of doubt, the Company, VaultLogix and each Guarantor agrees that all references to the
“Indebtedness” in the December Subsidiary Guaranty include the December Note and the December Debenture as amended
hereby and that reference to the “Debenture” in the December Subsidiary Guaranty means the December Debenture and
the December Note as amended hereby.

 

5.6         Reconfirmation
of Liens and Security Interest – February Obligations. Nothing herein shall impair or limit the continuation of the
liens and security interests granted to JGB Concord under the February Security Agreement, any deposit account control agreement
with any depositary bank or any other February Note Document (collectively, the “February Security Instruments”),
which liens are continued in full force and effect pursuant to and as provided therein, and which liens secure all February Obligations.
For the avoidance of doubt, the Borrowers and each Guarantor agree that all references to the “Obligations” in any
February Security Instrument include the February Convertible Note as amended hereby. The Borrowers and each Guarantor acknowledges
the continuing existence and priority of all liens and security interests granted, conveyed, and assigned pursuant to the February
Security Instruments to which it is a party, in accordance with such instruments, and agrees to perform such acts and duly authorize,
execute, acknowledge, deliver, file, and record such additional documents and certificates as JGB Concord reasonably requests
in order to perfect, preserve, and protect such liens and security interests.

 

    	 	7	 

     

    

 

5.7         Reconfirmation
of Guarantees – February Obligations. Each Guarantor acknowledges the amendment of the February Convertible Note pursuant
to this Agreement and ratifies and confirms that the February Subsidiary Guaranty is not released, diminished, impaired, reduced,
or otherwise adversely affected by such amendment and continues to guarantee and assure the full payment and performance of all
present and future obligations under the February Convertible Note and the other February Note Documents. For the avoidance of
doubt, each Guarantor agrees that all references to the “Indebtedness” in the December Subsidiary Guaranty include
the February Convertible Note as amended hereby and that reference to the “Note” in the February Subsidiary Guaranty
means the February Convertible Note as amended hereby.

 

6.         Conditions
Precedent. This Agreement shall not become effective unless and until the date (the "Effective
Date") that each of the following conditions shall have been satisfied in JGB’s sole discretion, unless
waived in writing by JGB:

 

6.1         Delivery
of this Agreement. The Borrowers and each Guarantor shall have delivered or caused to be delivered a duly executed copy of
this Agreement.

 

6.2         Delivery
of Amended JGB Notes. The Borrowers shall have delivered “wet ink” originals of each of the amended and restated
JGB Notes referred to in Section 5 of this Agreement.

 

6.3         Warrants.
The Company shall have delivered (i) warrants (such warrants to be in substantially the form attached hereto as Exhibit D)
to purchase 1,000,000 shares of the Company’s common stock for an exercise price of $0.01 per share to such persons and
in such denominations as set forth in Exhibit F and (ii) warrants (such warrants to be in substantially the form attached
hereto as Exhibit E) to purchase 3,500,000 shares of the Company’s common stock for an exercise price of $0.10 per
share to such persons and in such denominations as set forth in Exhibit F.

 

7.         Representations
and Warranties. Each Borrower and each Guarantor represents and warrants, severally and jointly, to JGB that:

 

7.1         Authorization;
Enforcement. Each Borrower and each Guarantor has the requisite corporate power and authority to enter into and to consummate
the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery
of this Agreement (and each other document required to be executed and delivered by a Borrower or a Guarantor hereunder) by each
Borrower and each Guarantor and the consummation by each of them of the transactions contemplated hereby have been duly authorized
by all necessary action on the part of each such Borrower and each such Guarantor and no further action is required by either
Borrower or any Guarantor in connection herewith. This Agreement (and each other document required to be executed and delivered
by a Borrower or a Guarantor hereunder) has been (or upon delivery will have been) duly executed by each Borrower and each Guarantor
and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of each Borrower and
each Guarantor enforceable against them in accordance with their respective terms, except: (i) as limited by general equitable
principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement
of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive
relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable
law.

 

    	 	8	 

     

    

 

7.2         No
Conflicts. The execution, delivery and performance by each Borrower and each Guarantor of this Agreement (and each other document
required to be executed and delivered by a Borrower or a Guarantor hereunder), and the consummation by each of them of the transactions
contemplated hereby and thereby do not and will not: (i) conflict with or violate any provision of any Borrower’s or any
Guarantor’s certificate or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict
with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in
the creation of any Lien upon any of the properties or assets of a Borrower or a Guarantor, or give to others any rights of termination,
amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, securities
purchase agreement, debt or other instrument (evidencing a Borrower or Guarantor debt or otherwise) or other understanding to
which a Borrower or any Guarantor is a party or by which any property or asset of a Borrower or any Guarantor is bound or affected,
or (iii) conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction
of any court or governmental authority to which a Borrower or a Guarantor is subject (including federal and state securities laws
and regulations), or by which any property or asset of a Borrower or a Guarantor is bound or affected.

 

7.3         Absence
of Defaults. Other than the Specified Defaults, no Event of Default under the JGB Notes has occurred or is continuing. Each
Borrower and each Guarantor has complied in all material respects with its respective obligations under the December Debenture
Documents and the February Note Documents.

 

7.4         Solvency.
Based on the consolidated financial condition of the Company and its subsidiaries taken as a whole, after giving effect to the
transactions contemplated by this Agreement (not including, for the avoidance of doubt, any Dominion Transactions): (i) the fair
saleable value of the Company’s assets exceeds the amount that will be required to be paid on or in respect of the Company’s
existing debts and other liabilities (including known contingent liabilities) as they mature, (ii) the Company’s assets
do not constitute unreasonably small capital to carry on its business as now conducted and as proposed to be conducted including
its capital needs taking into account the particular capital requirements of the business conducted by the Company, consolidated
and projected capital requirements and capital availability thereof, and (iii) the current cash flow of the Company, together
with the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated
uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when such amounts are required to
be paid. The Company does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the
timing and amounts of cash to be payable on or in respect of its debt).

 

    	 	9	 

     

    

 

7.5         SEC
Reports; Financial Statements. Since January 1, 2016, the Company has filed all reports, schedules, forms, statements and
other documents required to be filed by it with the Securities and Exchange Commission pursuant to the reporting requirements
of the Securities Exchange Act of 1934, as amended (all of the foregoing including filings incorporated by reference therein being
referred to herein as the “SEC Documents”). At the times of their respective filings, the SEC Documents complied
in all material respects with the requirements of the Exchange Act and the rules and regulations of the Commission promulgated
thereunder. The SEC Documents did not, and do not, contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading. As of their respective dates, the financial statements of the Company included in the SEC Documents
complied as to form in all material respects with Regulation S-X and all other published rules and regulations of the Commission.
Such financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”)
applied on a consistent basis during the periods involved (except (i) as may be otherwise indicated in such financial statements
or the notes thereto or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may
be condensed or summary statements), and fairly present in all material respects the financial position of the Company and its
consolidated subsidiaries as of the dates thereof and the results of operations and cash flows for the periods then ended (subject,
in the case of unaudited statements, to normal year-end audit adjustments). The Company does not currently have any reason to
believe that it will not timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2016.

 

7.6         Absence
of Material Adverse Effect. Since June 30, 2016, there has been no event, occurrence or development that has had or that could
reasonably be expected to result in a Material Adverse Effect (as defined in the Securities Purchase Agreement).

 

8.         Conditions
Subsequent.

 

8.1         The
Company shall use its reasonable best efforts to cause all Indebtedness of the Company and its subsidiaries (other than Indebtedness
owed to JGB) to be converted into shares of the Company’s common stock or preferred stock by October 15, 2016, on terms
reasonably acceptable to JGB.

 

    	 	10	 

     

    

 

8.2         By
not later than September 15, 2016, the parties will cause (i) the Irrevocable Transfer Agent Instructions, dated December 29,
2015, by and among the Company, JGB Waltham and the transfer agent, and Irrevocable Transfer Agent Instructions, dated February
16, 2016, by and among the Company, JGB Concord and the transfer agent, in each case, to be amended to increase the share reserve
to 20,000,000 shares each and (ii) the transfer agent to enter into irrevocable transfer agents with respect to the December Note
and reserve 20,000,000 therefor.

 

9.         Covenant
to Convert. By not later than the date that is 30 days after the date of this Agreement, JGB Waltham shall have converted
no less than $300,000 of the principal amount of the December Debenture, provided that (i) no Event of Default (as defined in
the December Debenture) has occurred and is continuing during such 30 day period, (ii) the VWAP (as defined in the December Debenture)
of the Common Stock was at least $0.10 per share on each Trading Day during such 30 day period and (iii) all of the Equity Conditions
(as defined in the December Debenture) are satisfied on each Trading Day during such 30 day period.

 

10.         Successors
and Assigns. This Agreement shall inure to the benefit of and be binding upon the Borrowers, the Guarantors and JGB, and each
of their respective successors and assigns.

 

11.         Governing
Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. The parties
agree that the state and federal courts located in New York County, New York shall have exclusive jurisdiction over any action,
proceeding or dispute arising out of this Agreement and the parties submit to the personal jurisdiction of such courts.

 

12.         No
Modification. Except as expressly set forth herein, the JGB Notes, December Debenture Documents and February Note Documents
remain unmodified and in full force effect. This Agreement is a Transaction Document and an Operative Document.

 

13.         Counterparts.
This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same agreement, and any
party hereto may execute this Agreement by signing and delivering one or more counterparts. Delivery of an executed counterpart
of this Agreement electronically or by facsimile shall be effective as delivery of an original executed counterpart of this Agreement.

 

14.         Disclosure.
Company confirms that neither it nor any other person or entity acting on its behalf has provided JGB or its counsel with any
information that constitutes or might constitute material, nonpublic information. The Company will disclose the material terms
of this Agreement and the transactions contemplated hereby by not later than 8:00 a.m. on September 2, 2016, or such earlier time
as may be required by law, by means of a Current Report on Form 8-K filed with the Securities and Exchange Commission. The Current
Report on Form 8-K shall be subject to the prior review and comment of JGB. From and after the filing of the Current Report on
Form 8-K with the SEC, the Company acknowledges and agrees that JGB shall not be in possession of any material, nonpublic information
received from the Company, any Guarantor or any of their respective officers, directors, employees or agents. The Company acknowledges
that JGB shall not be deemed to have any obligation of confidentiality with respect to (i) any non-public information of the Company
disclosed to JGB by or on behalf of the Company, (ii) the fact that JGB has exercised any of its rights and/or remedies under
the Transaction Documents or the Operative Documents, or (iii) any information obtained by JGB as a result of exercising any of
its rights and/or remedies under the Transaction Documents or Operative Documents. In addition, JGB shall not be deemed to be
in breach of any duty to the Company and/or to have misappropriated any non-public information of the Company, if JGB engages
in transactions of securities of the Company, including, without limitation, any hedging transactions, short sales or any “derivative”
transactions while in possession of such non-public information.

 

15.         Expense
Reimbursement. The Company shall on the date hereof deliver to JGB by wire transfer of immediately available funds an amount
equal to $50,000 as reimbursement for JGB’s expenses incurred in connection with the transactions contemplated hereby.

 

    	 	11	 

     

    

 

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

 

	InterCloud
    Systems, Inc.	 
	 	 	 
	By	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	VaultLogix,
    LLC	 
	 	 	 
	By	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	JGB
    (Cayman) Waltham Ltd.	 
	 	 	 
	By	 	 
	Name: 	Brett Cohen	 
	Title: 	President 	 
	 	 	 
	JGB
    (Cayman) Concord Ltd.	 
	 	 	 
	By	 	 
	Name: 	Brett Cohen	 
	Title: 	President	 

 

    	 	12	 

     

    

 

GUARANTORS:

 

	T
    N S, INC. 	 	INTEGRATION
    PARTNERS – NY CORPORATION
	 	 	 	 	 
	By:	             	 	By:	                
	Name:	 	 	Name:	 
	Its:	 	 	Its:	 
	 	 	 	 	 
	ADEX
    CORPORATION	 	AW
    SOLUTIONS, INC.
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Its:	 	 	Its:	 
	 	 	 	 	 
	RENTVM
    INC.	 	ADEX
    PUERTO RICO LLC
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Its:	 	 	Its:	 
	 	 	 	 	 
	ADEXCOMM
    CORPORATION 	 	TROPICAL
    COMMUNICATIONS, INC.
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Its:	 	 	Its:	 
	 	 	 	 	 
	AW
    SOLUTIONS PUERTO RICO, LLC 	 	RIVES
    MONTEIRO LEASING, LLC 
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Its:	 	 	Its:	 
	 	 	 	 	 
	RIVES
    MONTEIRO ENGINEERING, LLC	 	NOTTINGHAM
    ENTERPRISES, LLC 
	 	 	 	 	 
	By:	 	 	By:	 
	Name:	 	 	Name:	 
	Its:	 	 	Its:	 

 

[GUARANTOR
SIGNATURE PAGE TO AMENDMENT AGREEMENT DATED SEPTEMBER 1, 2016].

 

    	 	13	 

     

    

 

Exhibit
A

 

See
attached

 

    	 	14	 

     

    

 

Exhibit
B

 

See
attached

 

    	 	15	 

     

    

 

Exhibit
C

 

See
attached

 

    	 	16	 

     

    

 

Exhibit
D

 

See
attached

 

    	 	17	 

     

    

 

Exhibit
E

 

See
attached

 

    	 	18	 

     

    

 

Exhibit
F

 

Allocations

 

$0.10
Warrants 

 

JGB
Concord –  2,309,371

JGBWaltham
– 1,190,629

 

$0.01
Warrants

 

JGB
Concord –  659,820

JGB
Waltham – 340,180

 

 

19Blueprint

EXHIBIT 4.3

 

INCENTIVE STOCK OPTION PLAN

OF

PRETIUM RESOURCES INC.

dated as of March 10, 2016

 

1.          Purpose of the Plan

 

1.1        The purpose of the Plan is to (a) attract and retain superior directors, officers, advisors, employees and other persons or companies engaged to provide ongoing services to the Company, to provide an incentive for such persons to put forth
maximum effort for the continued success and growth of the Company, and in combination with these goals, to encourage their participation in the performance of the Company; and (b) closely align the personal interests of such directors, officers, advisors, employees and other persons or companies with those of the Shareholders by providing them with the opportunity, through the grant of Options, to acquire Shares.

2.          Definitions

2.1         For the purposes of the Plan, the following terms have the respective meanings set forth below:

 

(a) 

“Associate” has the same meaning ascribed to that term under Subsection 2.22 of National Instrument 45-106;

 

(b) 

“Black-Out Period” means that period during which a trading black-out period is imposed by the Company to restrict trades in the
Company’s securities by an Eligible Person or Permitted Assign;

 

(c) 

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

 

(d) 

“Compensation and Corporate Governance Committee” means the committee of the Board as constituted from time to time to oversee
compensation and corporate governance matters;

 

(e) 

“Consultant” means an individual, other than an employee, director or officer of the Company or its Related Entity
or a registrant under the Securities Act (British Columbia), that:

(i)

is engaged to provide on a bona fide basis, consulting, technical, management or other services to the Company or Related Entity of the Company, other than services provided in relation to a distribution, services provided by registrants and services that include investor relations activities;

(ii)

provides the services under a written contract between the Company or its Related Entity and the individual Consultant or a Consultant Company or Consultant Partnership of the individual; and

(iii)

in the reasonable opinion of the Board, spends or will spend a significant amount of time and attention on the affairs and business of the Company or Related Entity of the Company;

 

(f) 

“Consultant Company” means for an individual Consultant, the company of which the individual consultant is an employee or shareholder;

 

(g) 

“Consultant Partnership” means for an individual consultant, a partnership of which the individual Consultant is an employee or
partner;

 

 

- 2 -

 

 

(h) 

“Company” means Pretium Resources Inc., a corporation incorporated under the British Columbia Business
Corporations Act, or its successors;

 

(i) 

“Disability” means a physical injury or mental incapacity of a nature which the Board determines prevents or would prevent the
Optionee from satisfactorily performing the substantial and material duties of his or her position with the Company;

 

(j) 

“Eligible Person” means, from time to time, any bona fide director, senior officer or employee
of the Company or the Related Entity of the Company, any Permitted Consultant and any Permitted Assign;

 

(k) 

“Exchange” means, if the Shares are listed on the TSX, the TSX and, if the Shares are not listed on the TSX, any other principal
exchange upon which the Shares are listed;

 

(l) 

“Grant Date” means the date on which an Option is granted to an Eligible Person;

 

(m) 

“Insider” has the same meaning ascribed to that term as set out in the Securities Act (British
Columbia) and includes Associates and Affiliates of an Insider, but excludes a director or senior officer of a subsidiary or Related Entity of the Company unless such director or senior officer

(i)

in the ordinary course receives or has access to information as material facts or material changes concerning the Company before the material facts or material changes are generally disclosed;

(ii)

is a director or senior officer of a major subsidiary (as defined in National Instrument 55-101); or

(iii)

is an Insider of the Company in a capacity other than as a director or senior officer of the subsidiary or Related Entity;

 

(n) 

“Market Value” of a Share means, on any given day:

(i)

where the Share is not listed on an Exchange, the fair market value of a Share on that day determined by the Board in good faith; and

(ii)

where the Share is listed on an Exchange, the last daily closing price per Share on the Exchange on the trading day immediately preceding the relevant date and if there was no sale on the Exchange on such date, then the last sale prior thereto;

 

(o) 

“Option” means the right to purchase a Share under the Plan;

 

(p) 

“Option Period” has the meaning ascribed to that term in Subsection 6.3 hereof;

 

(q) 

“Option Price” means the price per Share at which Shares may be purchased under the Option, as determined pursuant to Paragraph
5.1(b) hereof and as may be adjusted in accordance with Section 10 hereof;

 

(r) 

“Optionee” means an Eligible Person to whom an Option has been granted;

 

(s) 

“Permitted Assign” means for a person that is an employee, executive officer, director or Consultant of the Company or Related
Entity, a holding entity (as defined in National Instrument 45-106) of the person or an RRSP or RRIF of the person;

 

(t) 

“Permitted Consultant” means a Consultant, a Consultant Company or Consultant’s Partnership;

 

 

- 3 -

 

 

(u) 

“Plan” means the Incentive Stock Option Plan of the Company as set forth herein as the same may be amended and/or restated from
time to time;

 

(v) 

“Redundancy” means the termination of employment due to the fact that,

 

(i) 

the person’s employer has ceased or intends to cease:

(A)

to carry on business for the purposes of which the employee was employed by him, or

(B)

to carry on that business in the place where the employee was so employed, or

 

(ii) 

the requirements of that business:

(A)

for employees to carry out work of a particular kind, or

(B)

for employees to carry out work of a particular kind in the place where the employee was employed by the employer,

have ceased or diminished or are expected to cease or diminish;

 

(w) 

“Related Entity” means a person that is controlled by the Company or is controlled by the same person that controls the Company
and “control” for the purpose of this definition has the same meaning as set out in section 2.23 of National Instrument 45-106;

 

(x) 

“Retirement” means the termination of employment due to retirement of an Optionee on or after such Optionee’s normal retirement
date under the applicable retirement plan or policy of his or her employer or due to early retirement with the consent of the Board;

 

(y) 

“Regulators” has the meaning ascribed to that term in Section 11.1 hereof;

 

(z) 

“Share” means a Common share without nominal or par value in the capital of the Company;

 

(aa) 

“Shareholder” means a holder of one or more Shares; and

 

(bb) 

“TSX” means the Toronto Stock Exchange.

 

2.2         Unless otherwise indicated, all dollar amounts referred to in this Plan are in Canadian funds.

 

2.3        As used in this Plan, words importing the masculine gender shall include the feminine and neuter genders and words importing the singular shall include the plural and vice versa, unless the context otherwise requires and references to person
includes any individual, partnership, limited partnership, joint venture, syndicate, sole proprietorship, company or corporation (with or without share capital), unincorporated association, trust, trustee, executor, administrator or other legal representative.

 

3.           Administration of the Plan

 

3.1         The Plan shall be administered by the Board with the assistance of the Compensation and Corporate Governance Committee and the Chief Executive Officer as provided herein.

 

3.2       The members of the Compensation and Corporate Governance Committee shall be appointed from time to time by, and serve at the pleasure of, the Board. A majority of the Compensation and Corporate Governance Committee shall constitute
a quorum thereof. Acts approved in writing by all members of the Compensation and Corporate Governance Committee shall constitute valid acts of the Compensation and Corporate Governance Committee as if taken at a meeting at which a quorum was present.

 

 

- 4 -

 

 

3.3         The Chief Executive Officer of the Company shall periodically make recommendations to the Compensation and Corporate Governance Committee as to the grant of Options.

 

3.4         The Compensation and Corporate Governance Committee shall, on at least an annual basis, make recommendations to the Board as to the grant of Options.

 

3.5         The Board may wait until such time as the financial statements of the preceding fiscal year are approved by the Board before making any determination regarding the grant of Options.

 

3.6         In addition to the powers granted to the Board under the Plan and subject to the terms of the Plan, the Board shall have full and complete authority to grant Options, to interpret the Plan, to prescribe such rules and regulations
as it deems necessary for the proper administration of the Plan and to make such determinations and to take such actions in connection therewith as it deems necessary or advisable. Any such interpretation, rule, determination or other act of the Board shall be conclusively binding upon all persons.

 

3.7         The Board may authorize one or more officers of the Company to execute and deliver and to receive documents on behalf of the Company.

 

4.           Shares Subject to the Plan

 

4.1         The maximum number of Shares that may be reserved for issuance pursuant to Options granted under the Plan shall not at any time exceed 10% of the total number of issued and outstanding Shares at the Grant Date of the Options, subject to adjustment
as provided in Section 10 hereof and subject to reloading permitted under Subsection 4.4 (which reloading shall increase the aggregate number of Shares that may be issued under the Plan by the number of additional Shares permitted to be reserved under Subsection 4.4).

 

4.2         The total number of Shares that may be reserved for issuance to any one person pursuant to Options granted under the Plan in any one year shall not exceed 5% of the Shares of the Company issued and outstanding on a non-diluted basis on the
Grant Date of the Options.

 

4.3          Anything in this Plan to the contrary notwithstanding:

(a)

the maximum number of Shares that may be reserved for issuance pursuant to Options granted under the Plan to Insiders of the Company, together with the number of Shares reserved for issuance to such Insiders under the Company’s other previously established or proposed share compensation arrangements, shall not exceed 10% of the issued and outstanding Shares on a non-diluted basis
at the Grant Date of the Options;

(b)

the maximum number of Shares which may be issued to Insiders of the Company within any one-year period, pursuant to Options granted under the Plan when taken together with the number of Shares issued to such Insiders under the Company’s other previously established or proposed share compensation arrangements, shall not exceed 10% of the Shares of the Company’s issued and outstanding
on a non-diluted basis at the end of such period;

 

- 5 -

 

(c)

the maximum number of Shares which may be issuable to any individual Insider or consultant of the Company, within a one-year period pursuant to Options granted under the Plan, when taken together with the number of Shares issuable to such Insiders under the Company’s other previously established or proposed share compensation arrangements, may be no more than 2% of the total number
of issued and outstanding Shares on a non-diluted basis at the end of such period; and

(d)

the maximum number of Shares which may be issuable to the non-employee directors of the Company, as a group, within a one-year period pursuant to options granted under the Stock Option Plan, when taken together with the number of Shares issued to such directors under the Company’s other previously established or proposed share compensation arrangements, may be no more than 1% of the
total number of issued and outstanding Shares on a non-diluted basis at the end of such period.

Any entitlement to acquire Shares granted pursuant to the Plan or any other options prior to the grantee becoming an Insider shall be excluded for the purposes of the limits set out in paragraph (b) above.

 

4.4         Options may be granted in respect of authorized and unissued Shares. Shares in respect of which Options have expired, were cancelled or otherwise terminated for any reason without having been exercised shall be available
for subsequent Options under the Plan. Options that have been exercised shall be available for subsequent grants under the Plan and the Company shall reserve additional Shares for issuance pursuant to such Options. No fractional Shares may be purchased or issued under the Plan.

 

5.           Grants of Options

 

5.1        Subject to the provisions of the Plan, the Board shall, from time to time, determine those Eligible Persons to whom Options shall be granted and the Grant Date. Options granted to Eligible Persons in accordance with the requirement hereunder shall
be at no cost to the Eligible Person. The Board shall also determine, in connection with each grant of Options:

(a)

the number of Options to be granted;

(b)

the Option Price applicable to each Option, but the Option Price shall not be less than the Market Value per Share on the Grant Date;

(c)

the vesting conditions of the Options, if any; and

(d)

the other terms and conditions (which need not be identical and which, without limitation, may include non-competition provisions) of all Options covered by any grant.

 

6.           Eligibility, Vesting and Terms of Options

 

6.1         Options may be granted to Eligible Persons only.

 

6.2         Subject to the adjustments provided for in Section 10 hereof, each Option shall entitle the Optionee to purchase one Share.

 

6.3         The option period (the “Option Period”) of each Option commences on the Grant Date and expires at 4:30 p.m. Vancouver time on the fifth anniversary of the Grant Date. If an Option expires during a Black-Out Period, then, notwithstanding
any other provision of the Plan, the Option shall expire 10 business days after the Black-Out Period is lifted by the Company.

 

 

- 6 -

 

 

6.4            An Option which has vested may be exercised (in each case to the nearest full Share) at any time during the Option Period.

 

6.5          An Option is personal to the Optionee and may not be sold, transferred, assigned or disposed of in any way except, by will or by the laws governing the devolution of property, to the Optionee’s executor, administrator
or other personal representative in the event of death of the Optionee, or to a Permitted Assign.    

 

7.             Option Agreement

 

7.1           Upon the grant of an Option, the Company and the Optionee shall enter into an option agreement, in a form set out in Appendix “A” attached hereto or in such other form as approved by the Board, which agreement shall set
out the Optionee’s agreement that the Options are subject to the terms and conditions set forth in the Plan as it may be amended or replaced from time to time, the Grant Date, the name of the Optionee, the Optionee’s position with the Company, the number of Options, the Option Price, the expiry date of the Option Period, the conditions (if any) imposed on the exercise of the Option, and such other terms and conditions as the Board may deem appropriate.

 

8.            Termination of Employment, Engagement or Directorship

 

8.1          Optionees shall have 60 days from:

(a)

the date on which the Optionee’s employment, engagement or directorship with the Company or its Related Entity is terminated due to Retirement, Disability or Redundancy;

(b)

the date the company by which the employee is employed and by virtue of which the Optionee is an Eligible Person ceases to be a Related Entity of the Company; or

(c)

the date on which the undertaking or part undertaking of the company in which the employee is employed and by virtue of which the Optionee is an Eligible Employee is transferred or sold such that the company is no longer a Related Entity of the Company;

to exercise any Option granted hereunder to the extent such Option was exercisable and had vested on the date of such termination; provided, however, that no Option shall be exercisable following the expiration of the Option Period applicable thereto.

8.2         Any Optionee whose employment, engagement or directorship with the Company or employment with the Company’s Related Entity is terminated, other than for cause, at any time in the six months following
a change of control of the Company (as hereinafter defined) shall have 90 days from the date of such termination to exercise any Option granted hereunder. All Options granted shall immediately vest on the date of such termination; provided, however, that no Option shall be exercisable following the expiration of the Option Period applicable thereto. For the purposes of this Subsection 8.2, “change of control” shall mean the acquisition by a person, or combination of persons acting in concert, of:

(a)

a sufficient number of the voting rights attached to the outstanding voting securities of the Company which together with the voting securities held by such person or persons, affect materially the control of the Company; or

(b)

more than 50% of the voting rights attached to the outstanding voting securities of the Company;

 

- 7 -

 

and such persons or combination of persons did not hold a sufficient number of voting rights to affect materially the control of the Company immediately prior to the time of such acquisition.

 

8.3         In the event of the death of an Optionee, either while in the employment or engagement or whilea director of the Company or its Related Entity or after Retirement or Disability, the Optionee’s executor, administrator
or other personal representative who have acquired the right to exercise such Option from the Optionee by will or the laws of devolution may, within 365 days from the date of the Optionee’s death, exercise any Option granted hereunder to the extent such Option was exercisable and had vested on the date of the Optionee’s death; provided, however, that no Option shall be exercisable following the expiration of the Option Period applicable thereto.

 

8.4        In the event an Optionee’s employment, engagement or directorship with the Company or its Related Entity terminates for any reason other than for cause, death, or in the circumstances described in Subsections 8.1, 8.2 or
8.3 hereof, the Optionee may exercise any Option granted hereunder to the extent such Option was exercisable and had vested on the date of termination no later than thirty (30) days after such termination. In the event an Optionee’s employment, engagement or directorship is terminated for cause, each Option held by the Optionee that has not been exercised prior to such termination shall lapse and become null and void immediately upon such termination.

 

8.5         The Board may also in its sole discretion (without the requirement of Shareholder approval) increase the periods permitted to exercise all or any of the Options covered by any Grant following a termination of employment, engagement or directorship
as provided in Subsections 8.1, 8.2, 8.3 or 8.4 above, if allowable under applicable law; provided, however, that in no event shall any Option be exercisable following the expiration of the Option Period applicable thereto.

 

8.6          This Plan, any Option Agreement and any instrument executed in connection therewith will not:

(a)

confer on any Optionee any right to continue in employment, engagement or directorship with the Company or its Affiliates;

(b)

affect the right of the Company, to terminate the employment, engagement or directorship of any Optionee without liability at any time with or without cause;

(c)

impose upon the Board (or, if so delegated, the Compensation and Corporate Governance Committee) or any other person any duty or liability whatsoever (whether in contract, tort, or otherwise howsoever) in connection with:

 

(i) 

the lapsing of any Option pursuant to the Plan;

 

(ii) 

the failure or refusal to exercise any discretion under the Plan; or

 

(iii) 

an Optionee ceasing to be an Eligible Person for any reason whatever.

 

8.7          The benefit of Subsection 8.6 is given to the Company for itself and as trustee and agent of each Related Entity. To the extent that this Section benefits any company, which is not a party to the Plan, the benefit shall be held on trust
and as agent by the Company for such company and the Company may, at its discretion, assign the benefit of Subsection 8.6 to any such company.

9.            Exercise of Options

 

9.1          Subject to the provisions of the Plan, an Option may be exercised from time to time by delivery to the Company at its registered office of a written notice of exercise addressed to the Secretary of the Company
specifying the number of Shares with respect to which the Option is being exercised, together with a certified cheque or bank draft for the aggregate of the Option Prices to be paid for the Shares to be purchased. Certificates for such Shares shall be issued and delivered to the Optionee not later than 30 days following the receipt of such notice and payment.

 

 

- 8 -

 

 

9.2         No less than 100 Options may be exercised at any one time, except where a smaller number of Options is or remains exercisable pursuant to a grant, in which case, such smaller number of Options must be exercised at one time.

 

10.         Adjustment on Alteration of Share Capital

 

10.1        In the event of a subdivision, consolidation or reclassification of outstanding Shares or other capital adjustment, or the payment of a stock dividend thereon, the number of Shares reserved or authorized to be reserved under the Plan, the
number of Shares receivable on the exercise of an Option and the Option Price therefor shall be increased or reduced proportionately and such other adjustments shall be made as may be deemed necessary or fair and equitable by the Board.

 

10.2        If the Company amalgamates, consolidates or combines with or merges with or into another body corporate, whether by way of amalgamation, statutory arrangement or otherwise (the right to do so being hereby expressly reserved) (a “Business
Combination”), any Share receivable on the exercise of an Option shall be converted into the securities, property or cash which the Optionee would have received upon such Business Combination if the Optionee had exercised his or her Option immediately prior to the effective date of such Business Combination and the Option Price shall be adjusted as may be deemed necessary or fair and equitable by the Board and such adjustment shall be binding for all purposes of the Plan.
Furthermore, notwithstanding any other provision herein, (a) if because of a proposed Business Combination the exchange or replacement of shares in the Company or those in another company is imminent, or (b) an offer to purchase all of the Shares is made by a third party, the Board may, in a fair and equitable manner, determine the manner in which all unexercised Options granted under the Plan shall be treated including, for example, requiring the acceleration of the time for the exercise of such rights by the
Optionees and of the time for the fulfilment of any conditions or restrictions on such exercise (including without limitation, vesting requirements).

 

10.3        In the event of a change in the Company’s currently authorized Shares which is limited to a change in the designation thereof, the shares resulting from any such change shall be deemed to be Shares within the meaning of the Plan.

 

10.4        In the event of any change affecting the Shares other than the changes referred to in Subsections 10.1, 10.2 and 10.3, such adjustment, if any, shall be made as may be deemed equitable by the Board in its sole discretion to properly reflect such event and such adjustment shall be binding for all purposes of the Plan.

 

10.5        No adjustment provided in this Section 10 shall require the Company to issue a fractional Share and the total adjustment with respect to each Option shall be limited accordingly.

 

10.6        All determinations of the Board under this Section 10 shall be binding for all purposes of the Plan.

 

 

- 9 -

 

 

11.          Regulatory Approval

 

11.1        Notwithstanding any of the provisions contained in the Plan or any Option, the Company’s obligation to grant Options and issue Shares pursuant to the exercise of an Option and to issue and deliver certificates for such securities to an Optionee shall be subject to:

(a)

compliance with all applicable laws, regulations, rules, orders of governmental or regulatory authorities in Canada (“Regulators”);

(b)

compliance with the requirements of any stock exchange on which the Company’s shares are listed, if applicable; and

(c)

receipt from the Optionee of such covenants, agreements, representations and undertakings, including as to future dealings in such Shares, as the Company determines to be necessary or advisable in order to safeguard against the violation of the securities laws of any jurisdiction.

 

11.2       The Company shall in no event be obligated to take any action in order to cause the issuance and delivery of such certificates to comply with any laws, regulations, rules, orders or requirements.

 

11.3      If any amendment, modification or termination to the provisions hereof or any Option made pursuant hereto are required by any Regulators or a stock exchange or market as a condition of approval to a distribution to the public of any Shares or to obtain a listing or quotation of any Shares, the Board is authorized to make
such amendments and thereupon the terms of the Plan, any Options, including any option agreement made pursuant hereto, shall be deemed to be amended accordingly without requiring the consent or agreement of any Optionee.

 

12.         Tax Withholding

 

12.1       The Company shall:

(a)

be entitled to make such additional tax withholdings from payments of employment income to Employees as shall, in the opinion of the Company, be required under the Income Tax Act (Canada), and remit such taxes to the Canada Revenue Agency on behalf of the Employees, in respect of income
taxable to the Employees arising on the exercise of Options; or

(b)

may require an Option Holder, as a condition of exercise of an Option, to pay to or reimburse the Company for any taxes which are required in the opinion of the Company to be withheld and remitted by it in respect of the exercise of such Option under any applicable laws, including the Income Tax Act (Canada).

 

13.          Miscellaneous

13.1        An Optionee entitled to Shares as a result of the exercise of an Option shall not be deemed for any purpose to be, or to have rights as, a shareholder of the Company by such exercise, except to the extent Shares are issued therefor and then only from the date such Shares are issued. No
adjustment shall be made for dividends or distributions or other rights which the record date is prior to the date such Shares are issued pursuant to the exercise of Options.

 

 

- 10 -

 

 

14.        Effective Date, Amendment and Termination

 

14.1      The Plan is effective as of May 12, 2016.

 

14.2       The Board may, subject where required to Regulators and/or stock exchange approval and Shareholder approval, amend the Plan at any time. Notwithstanding the foregoing, the Board is specifically authorized to amend or revise the terms of the Plan or any Option without obtaining Shareholder approval in the following circumstances,
provided that, in the case of any Option, no such amendment or revision may, without the consent of the Optionee, materially decrease the rights or benefits accruing to such Optionee or materially increase the obligations of such Optionee:

(a)

amendments of a “housekeeping” nature including, but not limited to, of a clerical, grammatical or typographical nature;

(b)

to correct any defect, supply any information or reconcile any inconsistency in the Plan in such manner and to such extent as shall be deemed necessary or advisable to carry out the purposes of the Plan;

(c)

a change to the vesting provisions of any Option or the Plan;

(d)

amendments to reflect any changes in requirements of any Regulator or stock exchange to which the Company is subject;

(e)

a change to the termination provisions of an Option which does not result in an extension beyond the Option Period as contemplated in Subsection 8.5 of the Plan;

(f)

in the case of any Option, the substitution of another award of the same or different type;

(g)

in the case of any Option, such amendments or revisions contemplated in Subsections 10.1, 10.2 and 10.3 of the Plan;

(h)

amendments to the definition of change of control for the purposes hereof;

(i)

the addition of a cashless exercise feature, payable in cash or securities of the Company; and

(j)

a change to the class of Eligible Persons that may participate under the Plan.

For greater certainty, the Option Price of any outstanding Option granted to any non-Insiders of the Company may not be reduced unless Shareholder approval is obtained by way of a resolution passed by a majority of the votes cast by the Shareholders at a meeting of Shareholders. The Option Price of any outstanding Option granted may
not be reduced and the original Option Period may not be extended to the benefit of Insiders of the Company unless disinterested Shareholder approval is obtained in accordance with the requirements of the TSX.

 

14.3        The Board may, subject where required to Regulators and/or stock exchange approval, from time to time suspend or terminate the Plan in whole or in part. No action by the Board to terminate the Plan pursuant to this Section 13 shall affect any Options granted hereunder which became effective pursuant to the
Plan prior to such action.

 

14.4         Notwithstanding any provision contained in the Plan, effective May 12, 2016, the Plan must be reconfirmed, every three years, by a resolution passed by a majority of the votes cast by Shareholders at a meeting of Shareholders and if the Plan is not reconfirmed by the Shareholders
as required by this provision, no further grants of Options may be made under the Plan.

 

 

 

 

 

APPENDIX A

 

Incentive Stock Option Plan of

Pretium Resources Inc.

 

OPTION AGREEMENT

 

This Option Agreement is entered into between Pretium Resources Inc. (the “Company”) and the Optionee named below pursuant to the Company’s Incentive Stock Option Plan, as amended (the “Plan”) a copy of which is attached hereto, and confirms the following:

 

	
1.
	
Grant Date:
	
 

	
 
	
 
	
 

	
2.
	
Optionee:
	
 

	
 
	
 
	
 

	
3.
	
Optionee’s Position with the Company:
	
 

	
 
	
 
	
 

	
4.
	
Number of Options:
	
 

	
 
	
 
	
 

	
5.
	
Option Price
	
 

	
 
	
($ per Share): $
	
$

	
 
	
 
	
 

	
6.
	
Expiry Date of Option Period:
	
 

	
 
	
 
	
 

	
7.
	
Each Option that has vested entitles the Optionee to purchase one Share at any time up to 4:30 p.m. Vancouver time on the expiry date of the Option Period. The Options vest as follows:

(a)

25% of the Options granted shall vest immediately upon the Grant Date;

(b)

an additional 25% of the Options granted shall vest after the expiry of a period of 6 months from the Grant Date; and

(c)

an additional 25% of the Options granted shall vest after the expiry of a period of 12 months from the Grant Date; and

(d)

an additional 25% of the Options granted shall vest after the expiry of a period of 18 months from the Grant Date.

 

8.          The Option is non-assignable and non-transferrable otherwise than, by will or by the law governing the devolution of property, to the Optionee’s executor,
administrator or other personal representative in the event of death of the Optionee.

 

9.          This Option Agreement is subject to the terms and conditions set out in the Plan, as amended or replaced from time to time. In the case of any
inconsistency between this Option Agreement and the Plan, the Plan shall govern.

 

10.         Unless otherwise indicated, all defined terms shall have the respective meanings attributed thereto in the Plan.

 

 

- 2 -

 

 

11.         By signing this agreement, the Optionee acknowledges that he, she, or its authorized representative has read and understands the Plan and agrees that the Options
are granted under and governed by the terms and conditions of the Plan, as may be amended or replaced from time to time. 

 

IN WITNESS WHEREOF the parties hereto have executed this Option Agreement as of the_____ day of ___________, ______.

 

	
SIGNED, SEALED AND DELIVERED by

	
 
	
)

	
 

	
____________________________ in the 

	
 
	
)

	
 

	
presence of: 

	
 
	
)

	
 

	
  

	
 
	
)

	
 

	
  

	
 
	
)

	
 

	
Signature of Witness
	
 
	
)

	
Signature by Optionee

	
  

	
 
	
)

	
 

	
  

	
 
	
)

	
 

	
Print Name
	
 
	
)

	
Print Name

	
  

	
 
	
 
	
 

	
 
	
 
	
 
	
 

 
PRETIUM RESOURCES INC.
 

Per: ________________________________________________________________

Authorized Signatory

 

 

 

 

 

 

 

 

 

 

 

 

Notice of Exercise of Incentive Stock Option

 

 

TO:       PRETIUM RESOURCES INC. (the “Company”)

 

 

 

I wish to exercise ____________________ of the incentive stock options granted to me by the Company at the price of CDN $_________________ per share and enclose herewith the amount of $_______________ in payment
of the total exercise price for such shares.

 

DATED as of __________________________, ______.

 

 

 

	
 
	
 

	
 
	
Signature of Optionee

	
 
	
 

	
 
	
 

	
 
	
Please print name of Optionee

 

 

 

Please have the share certificate issued as follows:

 

 

	
Registration Instructions:  

	
 
	
Delivery Instructions:

	
 
	
 
	
 

	
 
	
 
	
 

	
Name  

	
 
	
Name  

	
 
	
 
	
 

	
 
	
 
	
 

	
Account reference, if applicable

	
 
	
Account reference, if applicable

	
 
	
 
	
 

	
 
	
 
	
 

	
Address  

	
 
	
Address  

	
  

	
 
	
  

	
  

	
 
	
  

	
Telephone Number                         Fax Number

	
 
	
Telephone Number                         Fax Number  

	
  

	
 
	
  

	
  

	
 
	
  

	
Contact Name
	
 
	
Contact Name

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00262-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00262-of-00352.parquet"}]]