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Uranerz Energy Corporation: Exhibit 10.1 - Filed by newsfilecorp.com

Exhibit 10.1 

INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION
AGREEMENT (this “Agreement”) dated as of
________, 2013, is made by and between URANERZ ENERGY
CORP., a Nevada corporation (the
“Company”), and ____________________
(“Indemnitee”). 

RECITALS

A.      The Company
desires to attract and retain the services of highly qualified individuals as
directors and officers.

B.      Increased
corporate litigation has subjected directors and officers to litigation risks
and expenses, and the limitations on the availability of directors’ and
officers’ liability insurance has made it increasingly difficult for the Company
to attract and retain such persons. 

C.      The
Company desires to provide Indemnitee with specific contractual assurance of
Indemnitee’s rights to indemnification against litigation risks and expenses
(regardless, among other things, of any amendment to or revocation of the
Company’s Certificate of Incorporation or By-Laws, each as amended from time to
time (the “Charter Documents”), any change in the ownership of the Company or
the composition of its Board of Directors) which indemnification is intended to
be greater than that which is afforded by the Charter Documents. 

C      The Company desires
and has requested Indemnitee to serve or continue to serve as a director or
officer of the Company, as the case may be, and has proffered this Agreement to
Indemnitee as an additional inducement to serve in such capacity. 

D.      Indemnitee is
willing to serve, or to continue to serve, as a director or officer of the
Company, as the case may be, if Indemnitee is furnished the indemnity provided
for herein by the Company. 

AGREEMENT

NOW THEREFORE, in consideration of
the mutual covenants and agreements set forth herein, the parties hereto,
intending to be legally bound, hereby agree as follows: 

          1.     
Definitions. 

                    (a)      Agent.
For purposes of this Agreement, the term “agent” of the Company means any person
who: (i) is or was a director or officer of the Company or a subsidiary
of the Company; or (ii) is or was serving at the request of the Company or a
subsidiary of the Company, as a director or officer of a foreign or domestic
corporation, partnership, joint venture, trust or other enterprise.

                    (b)     
Expenses. For purposes of this Agreement, the term “expenses” shall be
broadly construed and shall include, without limitation, all direct and indirect
costs of any type or nature whatsoever (including, without limitation, all
attorneys’, witness, or other professional fees and related disbursements,
premiums, security for and other costs relating to any bonds and other out-of-pocket costs of whatever nature), actually and
reasonably incurred by Indemnitee in connection with the investigation, defense
or appeal of a proceeding or establishing or enforcing a right to
indemnification under this Agreement, the Nevada Corporations Code (Chapter 78
of the Nevada Revised Code, now or hereafter in force (the
“Code”)) or otherwise, and amounts paid in settlement by or on
behalf of Indemnitee, but shall not include any judgments, fines or penalties
actually levied against Indemnitee for such individual’s violations of law. 

3. 

                    (c)      Proceedings.
For purposes of this Agreement, the term “proceeding” shall be broadly construed
and shall include, without limitation, any threatened, pending, or completed
action, suit, arbitration, alternate dispute resolution mechanism,
investigation, inquiry, administrative hearing or any other actual, threatened
or completed proceeding, whether brought in the right of the Company or
otherwise and whether of a civil, criminal, administrative or investigative
nature, and whether formal or informal in any case, in which Indemnitee was, is
or will be involved as a party or otherwise by reason of: (i) the fact that
Indemnitee is or was a director or officer of the Company; (ii) the fact that
any action taken by Indemnitee or of any action on Indemnitee’s part while
acting as director or officer of the Company; or (iii) the fact that Indemnitee
is or was serving at the request of the Company as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise, and in any such case described above, whether
or not serving in any such capacity at the time any liability or expense is
incurred for which indemnification, reimbursement, or advancement of expenses
may be provided under this Agreement. 

                    (d)      Subsidiary.
For purposes of this Agreement, the term “subsidiary” means any corporation or
limited liability company of which more than 50% of the outstanding voting
securities or equity interests are owned, directly or indirectly, by the Company
and one or more of its subsidiaries, and any other corporation, limited
liability company, partnership, joint venture, trust, employee benefit plan or
other enterprise of which Indemnitee is or was serving at the request of the
Company as a director, officer, employee, agent or fiduciary. 

                    (e)     
Independent Counsel. For purposes of this Agreement, the term
“independent counsel” means a law firm, or a partner (or, if applicable, member)
of such a law firm, that is experienced in matters of corporation law and
neither presently is, nor in the past five (5) years has been, retained
to represent: (i) the Company or Indemnitee in any matter material to either
such party, or (ii) any other party to the proceeding giving rise to a claim for
indemnification hereunder. Notwithstanding the foregoing, the term “independent
counsel” shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in
representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. 

          2.      Indemnification.

                    (a)     
Indemnification in Third Party Proceedings. Subject to Section 9 below,
the Company shall indemnify Indemnitee to the fullest extent permitted by the
Code, as the same may be amended from time to time (but, only to the extent that
such amendment permits Indemnitee to broader indemnification rights than the
Code permitted prior to adoption of such amendment), if Indemnitee is a party to
or threatened to be made a party to or otherwise involved in any proceeding, for
any and all expenses, actually and reasonably incurred by Indemnitee in
connection with the investigation, defense, settlement or appeal of such
proceeding if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company and,
with respect to any criminal Proceeding, had no reasonable cause to believe
Indemnitee’s conduct was unlawful. 

4. 

                    (b)     
Indemnification in Derivative Actions and Direct Actions by the
Company. Subject to Section 9 below, the Company shall indemnify
Indemnitee to the fullest extent permitted by the Code, as the same may be
amended from time to time (but, only to the extent that such amendment permits
Indemnitee to broader indemnification rights than the Code permitted prior to
adoption of such amendment), if Indemnitee is a party to or threatened to be
made a party to or otherwise involved in any proceeding by or in the right of
the Company to procure a judgment in its favor, against any and all expenses
actually and reasonably incurred by Indemnitee in connection with the
investigation, defense, settlement, or appeal of such proceedings if Indemnitee
acted in good faith and in a manner Indemnitee reasonably believed to be in or
not opposed to the best interests of the Company; provided,
however, that, if applicable law so provides, no indemnification against
such expenses shall be made in respect of any claim, issue or matter in such
proceeding as to which Indemnitee shall have been adjudged to be liable to the
Company unless and to the extent that a court of competent jurisdiction shall
determine that such indemnification may be made.

          3.     
Indemnification of Expenses of Successful Party. Notwithstanding any
other provision of this Agreement, to the extent that Indemnitee is a party to
and is successful, on the merits or otherwise, in any proceeding, Indemnitee
shall be indemnified to the maximum extent permitted by applicable law,
including the Code, against all expenses incurred or paid by Indemnitee in
connection therewith. If Indemnitee is not wholly successful in such proceeding
but is successful, on the merits or otherwise, as to one or more but less than
all claims, issues or matters in such proceeding, the Company shall indemnify
Indemnitee against all expenses incurred or paid by Indemnitee in connection
with each successfully resolved claim, issue or matter. For purposes of this
section and without limitation, the termination of any claim, issue or matter in
such a proceeding by dismissal, with or without prejudice, shall be deemed to be
a successful result as to such claim, issue or matter. 

          4.      Partial
Indemnification. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of any
expenses actually and reasonably incurred by Indemnitee in the investigation,
defense, settlement or appeal of a proceeding, but is precluded by applicable
law or the specific terms of this Agreement to indemnification for the total
amount thereof, the Company shall nevertheless indemnify Indemnitee for the
portion thereof to which Indemnitee is entitled. 

          5.      Advancement
of Expenses. To the extent not prohibited by law, the Company shall
advance the expenses incurred by Indemnitee in connection with any proceeding,
and such advancement shall be made within thirty (30) days after the receipt by
the Company of a statement or statements requesting such advances (which shall
include invoices received by Indemnitee in connection with such expenses but, in
the case of invoices in connection with legal services, any references to legal
work performed or to expenditures made that would cause Indemnitee to waive any
privilege accorded by applicable law shall not be included with the invoice) and
an undertaking to repay the advancement of expenses if and to the extent that it
is ultimately determined by a court of competent jurisdiction in a final
judgment, not subject to appeal, that Indemnitee is not entitled to be
indemnified by the Company. Advances shall be unsecured, interest free and
without regard to Indemnitee’s ability to repay the expenses. Advances shall
include any and all expenses actually and reasonably incurred by Indemnitee
pursuing an action to enforce Indemnitee’s right to indemnification under this
Agreement, or 5. otherwise and this right of advancement, including expenses
incurred preparing and forwarding statements to the Company to support the
advances claimed. Indemnitee acknowledges that the execution and delivery of
this Agreement shall constitute an undertaking providing that Indemnitee shall,
to the fullest extent required by law, repay the advance if and to the extent
that it is ultimately determined by a court of competent jurisdiction in a final
judgment, not subject to appeal, that Indemnitee is not entitled to be
indemnified by the Company. The right to advances under this Section shall
continue until final disposition of any proceeding, including any appeal
therein. This Section 5 shall not apply to any claim made by Indemnitee for
which indemnity is excluded pursuant to Section 9(b). 

          6.      Notice
and Other Indemnification Procedures. 

                    (a)      Notification
of Proceeding. Indemnitee will notify the Company in writing promptly
upon being served with any summons, citation, subpoena, complaint, indictment,
information or other document relating to any proceeding or matter which may be
subject to indemnification or advancement of expenses covered hereunder. The
failure of Indemnitee to so notify the Company shall not relieve the Company of
any obligation which it may have to Indemnitee under this Agreement or
otherwise. 

                    (b)     
Procedures for Indemnification and Indemnification Payments.

                              (i)      Indemnitee
shall notify the Company promptly in writing upon receiving notice of any
demand, judgment or other requirement for payment that Indemnitee reasonably
believes to be subject to indemnification under the terms of this Agreement, and
shall request payment thereof by the Company. Indemnification payments requested
by Indemnitee under Sections 2 and 3 hereof shall be made by the Company no
later than sixty (60) days after receipt of the written request of Indemnitee.
Claims for advancement of expenses shall be made under the provisions of Section
5 herein. 

                              (ii)      Upon
written request by Indemnitee for indemnification pursuant to Section 6(b)(i)
hereof, a determination, if required by applicable law, with respect to
Indemnitee’s entitlement thereto shall be made in the specific case by one of
the following two methods, which shall be at the election and designation of the
Company’s Board of Directors: (1) by a majority vote of the disinterested
directors, even though less than a quorum or (2) if there are no disinterested
directors or if the disinterested directors so direct, by independent counsel in
a written opinion to be delivered to the Board of Directors. 

                              (iii)     
If the determination of entitlement to indemnification is to be made by
independent counsel pursuant to Section 6(b)(ii) hereof, the independent counsel
shall be selected by the Board of Directors. Indemnitee may, within 10 days
after such written notice of selection shall have been given, deliver to the
Company a written objection to such selection; provided, however,
that such objection may be asserted only on the ground that the independent
counsel so selected does not meet the requirements of “Independent Counsel” as
defined in Section 1(e) of this Agreement, and the objection shall set forth
with particularity the factual basis of such assertion. Absent a proper and
timely objection, the person so selected shall act as independent counsel. If a
written objection is made and substantiated, the independent counsel selected
may not serve as independent counsel unless and until such objection is
withdrawn or a court has determined that such objection is without merit. If,
within 20 days after submission by Indemnitee of a written request for
indemnification pursuant to Section 6(b)(i) hereof, no independent counsel shall
have been selected and not objected to, either the Company or 6. Indemnitee may petition a court of competent jurisdiction for
resolution of any objection which shall have been made by Indemnitee to the
other’s selection of independent counsel and/or for the appointment as
independent counsel of a person selected by the court or by such other person as
the court shall designate, and the person with respect to whom all objections
are so resolved or the person so appointed shall act as independent counsel
under Section 6(b)(ii) hereof. The Company shall pay any and all reasonable fees
and expenses of independent counsel incurred by such independent counsel in
connection with acting pursuant to Section 6(b)(ii) hereof, and the Company
shall pay all reasonable fees and expenses incident to the procedures of this
Section 6(b)(iii), regardless of the manner in which such independent counsel
was selected or appointed. 

                              (iv)      In
making a determination with respect to entitlement to indemnification hereunder,
the person or persons or entity making such determination shall presume that
Indemnitee is entitled to indemnification under this Agreement if Indemnitee has
submitted a request for indemnification in accordance with Section 6(b)(i) of
this Agreement. Anyone seeking to overcome this presumption shall have the
burden of proof and the burden of persuasion, by clear and convincing evidence.

                              (v)     
Indemnitee shall be deemed to have acted in good faith for purposes of
indemnification under this Agreement if Indemnitee’s actions are based on the
records or books of account of the Company, including financial statements, or
on information supplied to Indemnitee by the directors, officers, agents or
employees of the Company in the course of their duties, or on the advice of
legal counsel for the Company or on information or records given or reports made
to the Company by an independent certified public accountant or by an appraiser
or other expert selected by the Company. In addition, the knowledge and/or
actions, or failure to act, of any director, officer, agent or employee of the
Company shall not be imputed to Indemnitee for purposes of determining the right
to indemnification under this Agreement. Whether or not the foregoing provisions
of this Section 6(b)(v) are satisfied, it shall in any event be presumed that
Indemnitee has at all times acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the
Company. Anyone seeking to overcome this presumption shall have the burden of
proof and the burden of persuasion, by clear and convincing evidence. 

                              (vi)      If
the person, persons or entity empowered or selected under Section 6(b)(ii) to
determine whether Indemnitee is entitled to indemnification shall not have made
a determination within forty-five (45) days after receipt by the Company of the
request therefor, the requisite determination of entitlement to indemnification
shall be deemed to have been made and Indemnitee shall be entitled to such
indemnification, absent (i) a misstatement by Indemnitee of a material fact, or
an omission of a material fact necessary to make Indemnitee’s statement not
materially misleading, in connection with the request for indemnification, or
(ii) a prohibition of such indemnification under applicable law;
provided, however, that such forty-five (45) day period may be
extended for a reasonable time, not to exceed an additional fifteen (15) days,
if the person, persons or entity making the determination with respect to
entitlement to indemnification in good faith requires such additional time for
the obtaining or evaluating documentation and/or information relating thereto.

                              (vii)      Indemnitee
shall cooperate with the person, persons or entity making such determination
with respect to Indemnitee’s entitlement to indemnification, including providing
to such person, persons or entity upon reasonable advance request any
documentation or information which is not privileged or otherwise protected from
disclosure and which is reasonably available to Indemnitee and reasonably
necessary to such determination. 

7. 

Any independent counsel or member of the Board of Directors
shall act reasonably and in good faith in making a determination under the
Agreement of the Indemnitee’s entitlement to indemnification. Any costs or
expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in
so cooperating with the person, persons or entity making such determination
shall be borne by the Company (irrespective of the determination as to
Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies
and agrees to hold Indemnitee harmless therefrom. 

                    (c)      Application
for Enforcement. In the event that (i) a determination is made pursuant
to Section 6(b)(ii) of this Agreement that Indemnitee is not entitled to
indemnification under this Agreement or (ii) the Company fails to make timely
payments as set forth in Sections 5 or 6(b) above, Indemnitee shall have the
right to apply to any court of competent jurisdiction for the purpose of
determining Indemnitee’s entitlement for indemnification and enforcing
Indemnitee’s right to indemnification or advancement of expenses pursuant to
this Agreement. Indemnitee shall commence such proceeding seeking an
adjudication within 180 days following the date on which Indemnitee first has
the right to commence such proceeding pursuant to this Section 6(c). In such an
enforcement hearing or proceeding, the burden of proof shall be on the Company
to prove that indemnification or advancement of expenses to Indemnitee is not
required under this Agreement or permitted by applicable law. Any determination
by the Company (including its Board of Directors, shareholders or independent
counsel) that Indemnitee is not entitled to indemnification hereunder, shall not
be a defense by the Company to the action nor create any presumption that
Indemnitee is not entitled to indemnification or advancement of expenses
hereunder. 

                    (d)     
Indemnification of Certain Expenses. The Company shall indemnify
Indemnitee against all expenses incurred in connection with any hearing or
proceeding under this Section 6 unless the Company prevails in such hearing or
proceeding on the merits in all material respects or such indemnification is
prohibited by law. 

          7.      Assumption
of Defense. In the event the Company shall be requested by Indemnitee
to pay the expenses of any proceeding, the Company, if appropriate, shall be
entitled to assume the defense of such proceeding, or to participate to the
extent permissible in such proceeding, with counsel reasonably acceptable to
Indemnitee. Upon assumption of the defense by the Company and the retention of
such counsel by the Company, the Company shall not be liable to Indemnitee under
this Agreement for any fees of counsel subsequently incurred by Indemnitee with
respect to the same proceeding, provided that Indemnitee shall have the right to
employ separate counsel in such proceeding at Indemnitee’s sole cost and
expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers a
written notice to the Company stating that such counsel has reasonably concluded
that there may be a conflict of interest between the Company and Indemnitee in
the conduct of any such defense or the Company shall not, in fact, have employed
counsel or otherwise actively pursued the defense of such proceeding within a
reasonable time, then in any such event the fees and expenses of Indemnitee’s
counsel to defend such proceeding shall be subject to the indemnification and
advancement of expenses provisions of this Agreement. In the event the Company
assumes the defense of such proceeding, as contemplated herein, the Company may
not enter into a settlement of claims with respect to such proceeding as it
relates to claims against Indemnitee without the prior consent of the
Indemnitee, which shall not be unreasonably withheld. 

          8.     
Insurance. To the extent that the Company maintains an insurance policy
or policies providing liability insurance for directors, officers, employees, or
agents of the Company or of any subsidiary (“D&O
Insurance”), Indemnitee shall be covered by such policy or policies in
accordance with its or their terms to the maximum extent of the coverage
available for any such director, officer, employee or agent under such policy or
policies. If, at the time of the receipt of a notice of a claim pursuant to the
terms hereof, the Company has D&O Insurance in effect, the Company shall
give prompt notice of the commencement of such proceeding to the insurers in
accordance with the procedures set forth in the respective policies. The Company
shall thereafter take all necessary or desirable action to cause such insurers
to pay, on behalf of Indemnitee, all amounts payable as a result of such
proceeding in accordance with the terms of such policies. 

8. 

          9.      Exceptions.

                    (a)      Certain
Matters. Any provision herein to the contrary notwithstanding, the
Company shall not be obligated pursuant to the terms of this Agreement to
indemnify Indemnitee on account of any proceeding with respect to (i)
remuneration paid to Indemnitee if it is determined by final judgment or other
final adjudication that such remuneration was in violation of law (and, in this
respect, both the Company and Indemnitee have been advised that the Securities
and Exchange Commission believes that indemnification for liabilities arising
under the federal securities laws is against public policy and is, therefore,
unenforceable and that claims for indemnification should be submitted to
appropriate courts for adjudication, as indicated in Section 9(d) below); (ii) a
final judgment rendered against Indemnitee for an accounting, disgorgement or
repayment of profits made from the purchase or sale by Indemnitee of securities
of the Company against Indemnitee pursuant to the provisions of Section 16(b) of
the Securities Exchange Act of 1934, as amended, or other provisions of any
federal, state or local statute or rules and regulations thereunder; (iii) a
final judgment or other final adjudication that Indemnitee’s conduct was in bad
faith, knowingly fraudulent or deliberately dishonest or constituted willful
misconduct (but only to the extent of such specific determination); or (iv) on
account of conduct that is established by a final judgment as constituting a
breach of Indemnitee’s duty of loyalty to the Company or resulting in any
personal profit or advantage to which Indemnitee is not legally entitled. For
purposes of the foregoing sentence, a final judgment or other adjudication may
be reached in either the underlying proceeding or action in connection with
which indemnification is sought or a separate proceeding or action to establish
rights and liabilities under this Agreement.

                    (b)      Claims
Initiated by Indemnitee. Any provision herein to the contrary
notwithstanding, the Company shall not be obligated to indemnify or advance
expenses to Indemnitee with respect to proceedings or claims initiated or
brought by Indemnitee against the Company or its directors, officers, employees
or other agents and not by way of defense, except (i) with respect to
proceedings brought to establish or enforce a right to indemnification under
this Agreement or under any other agreement, provision in the Bylaws or Articles
of Incorporation or applicable law, or (ii) with respect to any other proceeding
initiated by Indemnitee that is either approved by the Board of Directors or
Indemnitee’s participation is required by applicable law. However,
indemnification or advancement of expenses may be provided by the Company in
specific cases if the Board of Directors determines it to be appropriate. 

                    (c)      Unauthorized
Settlements. Any provision herein to the contrary notwithstanding, the
Company shall not be obligated pursuant to the terms of this Agreement to
indemnify Indemnitee under this Agreement for any amounts paid in settlement of
a proceeding effected without the Company’s written consent. Neither the Company
nor Indemnitee shall unreasonably withhold consent to any proposed settlement;
provided, however, that the Company may in any event decline to consent to (or
to otherwise admit or agree to any liability for indemnification hereunder in
respect of) any proposed settlement if the Company is also a party in such
proceeding and determines in good faith that such settlement is not in the best
interests of the Company and its shareholders. 

9. 

                    (d)      Securities
Act Liabilities. Any provision herein to the contrary notwithstanding,
the Company shall not be obligated pursuant to the terms of this Agreement to
indemnify Indemnitee or otherwise act in violation of any undertaking appearing
in and required by the rules and regulations promulgated under the Securities
Act of 1933, as amended (the “Act”), or in any registration
statement filed with the SEC under the Act. Indemnitee acknowledges that
paragraph (h) of Item 512 of Regulation S-K currently generally requires the
Company to undertake in connection with any registration statement filed under
the Act to submit the issue of the enforceability of Indemnitee’s rights under
this Agreement in connection with any liability under the Act on public policy
grounds to a court of appropriate jurisdiction and to be governed by any final
adjudication of such issue. Indemnitee specifically agrees that any such
undertaking shall supersede the provisions of this Agreement and to be bound by
any such undertaking. 

          10.     
Nonexclusivity and Survival of Rights. The provisions for
indemnification and advancement of expenses set forth in this Agreement shall
not be deemed exclusive of any other rights which Indemnitee may at any time be
entitled under any provision of applicable law, the Company’s Articles of
Incorporation, Bylaws or other agreements, both as to action in Indemnitee’s
official capacity and Indemnitee’s action as an agent of the Company, in any
court in which a proceeding is brought, and Indemnitee’s rights hereunder shall
continue after Indemnitee has ceased acting as an agent of the Company and shall
inure to the benefit of the heirs, executors, administrators and assigns of
Indemnitee. The obligations and duties of the Company to Indemnitee under this
Agreement shall be binding on the Company and its successors and assigns until
terminated in accordance with its terms. The Company shall require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to
all or substantially all of the business or assets of the Company, expressly to
assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform if no such succession had
taken place. 

No amendment, alteration or repeal of this Agreement or of any
provision hereof shall limit or restrict any right of Indemnitee under this
Agreement in respect of any action taken or omitted by such Indemnitee in his or
her corporate status prior to such amendment, alteration or repeal. To the
extent that a change in the Code, whether by statute or judicial decision,
permits greater indemnification or advancement of expenses than would be
afforded currently under the Company’s Articles of Incorporation, Bylaws and
this Agreement, it is the intent of the parties hereto that Indemnitee shall
enjoy by this Agreement the greater benefits so afforded by such change. No
right or remedy herein conferred is intended to be exclusive of any other right
or remedy, and every other right and remedy shall be cumulative and in addition
to every other right and remedy given hereunder or now or hereafter existing at
law or in equity or otherwise. The assertion or employment of any right or
remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent
assertion or employment of any other right or remedy by Indemnitee.

          11.      Term.
All agreements and obligations of the Company contained herein shall continue
during the period Indemnitee is an officer or director of the Company (or is or
was 10. serving at the request of the Company as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise) and shall continue thereafter so long as Indemnitee shall be
subject to any proceeding (including, without limitation, any proceeding
commenced under Section 6 hereof).

          12.      Order
of Payments; Subrogation; No Duplication of Payments. The Company shall
not be liable under this Agreement to make any payment in connection with any
claim made against Indemnitee to the extent Indemnitee has otherwise actually
received payment (under an insurance policy, Articles of Incorporation or
otherwise) of the amounts otherwise indemnifiable hereunder. 

          13.      Interpretation
of Agreement. It is understood that the parties hereto intend this
Agreement to be interpreted and enforced so as to provide indemnification to
Indemnitee to the fullest extent now or hereafter permitted by law. 

          14.      Severability.
If any provision of this Agreement shall be held to be invalid, illegal or
unenforceable for any reason whatsoever, (a) the validity, legality and
enforceability of the remaining provisions of the Agreement (including without
limitation, all portions of any paragraphs of this Agreement containing any such
provision held to be invalid, illegal or unenforceable, that are not themselves
invalid, illegal or unenforceable) shall not in any way be affected or impaired
thereby; and (b) to the fullest extent possible, the provisions of this
Agreement (including, without limitation, all portions of any paragraph of this
Agreement containing any such provision held to be invalid, illegal or
unenforceable, that are not themselves invalid, illegal or unenforceable) shall
be construed so as to give effect to the intent manifested by the provision held
invalid, illegal or unenforceable and to give effect to Section 13 hereof. 

          15.      Amendment
and Waiver. No supplement, modification, amendment, termination, or
cancellation of this Agreement shall be binding unless executed in writing by
the parties hereto. No waiver of any of the provisions of this Agreement shall
be deemed or shall constitute a waiver of any other provision hereof (whether or
not similar) nor shall such waiver constitute a continuing waiver.

          16.      Notice.
Except as otherwise provided herein, any notice or demand which, by the
provisions hereof, is required or which may be given to or served upon the
parties hereto shall be in writing and, if by telegram, telecopy or telex, shall
be deemed to have been validly served, given or delivered when sent, if by
overnight delivery, courier or personal delivery, shall be deemed to have been
validly served, given or delivered upon actual delivery and, if mailed, shall be
deemed to have been validly served, given or delivered three (3) business days
after deposit in the United States mail, as registered or certified mail, with
proper postage prepaid and addressed to the party or parties to be notified at
the addresses set forth on the signature page of this Agreement (or such other
address(es) as a party may designate for itself by like notice). If to the
Company, notices and demands shall be delivered to the attention of the
Secretary of the Company. 

          17.      Governing
Law. This Agreement shall be governed exclusively by and construed
according to the laws of the State of Nevada, as applied to contracts between
Nevada residents entered into and to be performed entirely within Nevada. 

          18.      Counterparts.
This Agreement may be executed electronically and in one or more counterparts,
each of which shall for all purposes be deemed to be an original but all of 11.
which together shall constitute but one and the same Agreement.
Only one such counterpart need be produced to evidence the existence of this
Agreement. 

          19.      Headings.
The headings of the sections of this Agreement are inserted for convenience only
and shall not be deemed to constitute part of this Agreement or to affect the
construction hereof. 

          20.      Entire
Agreement. This Agreement constitutes the entire agreement between the
parties with respect to the subject matter hereof and supersedes all prior
agreements, understandings and negotiations, written and oral, between the
parties with respect to the subject matter of this Agreement including, but not
limited to any prior indemnification agreements between Indemnitee and the
Company; provided, however, that this Agreement is a supplement to and in
furtherance of the Company’s Articles of Incorporation, Bylaws, the Code and any
other applicable law, and shall not be deemed a substitute therefor, and does
not diminish or abrogate any rights of Indemnitee thereunder.

[REMAINDER OF
PAGE INTENTIONALLY
LEFT
BLANK] 

12. 

IN WITNESS WHEREOF,
  the parties hereto have entered into this Indemnification Agreement effective as
  of the date first above written. 

URANERZ ENERGY CORP. 

 

By:
  ___________________________________________________

       
  Name:
  ______________________________________________

       
  Title: _______________________________________________

	 	INDEMNITEE 
	 	 
	 	 
	 	Signature of Indemnitee 
	 	 
	 	 
	 	Print or Type Name of Indemnitee 

13.PediatRx Inc.: Exhibit 10.48 - Filed by newsfilecorp.com

BUSINESS DEVELOPMENT/ADVISORY SERVICES AGREEMENT 

THIS AGREEMENT is dated as of March 12, 2013 (the “Effective
Date”). 

BETWEEN: 

PEDIATRX INC.

(“PEDX”) 

AND: 

PHYS PHARMA LLC

(the “Company”) 

WHEREAS: 

	A. 	
      PEDX owns certain rights to GranisolTM, (granisetron HCI),
      an oral solution used in cancer care to treat nausea and vomiting
      associated with cancer treatment (“Granisol”);

	 	 
	B. 	
      Apricus Biosciences, Inc. (“Apricus”) owns certain
      rights to Granisol obtained pursuant to a Co- Promotion Agreement between
      Apricus and PEDX dated February 21, 2012;

	 	 
	C. 	
      Each of PEDX and Apricus have expressed an interest in
      bundling their respective interests in Granisol for the limited purpose of
      marketing and selling Granisol to a single purchaser;

	 	 
	D. 	
      The Company, which is engaged in the business of
      providing business development advisory and consulting services to life
      sciences companies, is aware of and has access to certain persons that
      might be interested in purchasing an interest in Granisol; and

	 	 
	E. 	
      PEDX and the Company desire to enter into a relationship
      on the terms and conditions set forth in this
Agreement.

NOW THEREFORE, for and in consideration of the mutual
covenants set forth herein, the parties hereto agree as follows: 

	1. 	
      Services

	 	 	 	 
		(a) 	
      During the Term (as hereinafter defined) of this
      Agreement, the Company shall provide the following services (the
      “Services”) to PEDX:

	 	 	 	 
			(i) 	
      From time-to-time during the Term of this Agreement, the
      Company shall provide to PEDX a written list (the “List”) of select
      biopharmaceutical companies which the Company believes might have an
      interest in acquiring Granisol (collectively, “Prospective
      Purchasers”).

	 	 	 	 
			(ii) 	
      From the List, PEDX and the Company shall collaborate in
      the selection of Prospective Purchasers to be contacted by the Company and
      the Company shall assist PEDX in marketing and selling Granisol to those
      selected Prospective Purchasers, including arranging for an introduction and
  the initiation of dialogue with those Prospective Purchasers.

- 2 - 

	 	(iii) 	
      On an as-needed, as-requested basis, the Company shall
      assist PEDX in negotiating and documenting the sale of any interest in
      Granisol to a Prospective Purchaser.

	 	 	 
	 	(iv) 	
      The Company shall provide written status reports to PEDX
      on a bi-weekly basis (or such other period as the parties may agree),
      detailing any contacts, discussions, etc., with Prospective Purchasers, in
      such form as PEDX may require, acting reasonably.

	 	 	 
	 	(v) 	
      If and to the extent that PEDX is able to come to an
      arrangement with Apricus pursuant to which PEDX and Apricus will cooperate
      in the sale of their respective interests in Granisol, the Company shall
      coordinate its efforts to market and sell its interest in Granisol with
      Apricus.

	 	(b) 	
      If:

	 	 	 	 	 
	 		(i) 	
      during the Term of this Agreement the Company, in good
      faith, makes an introduction to someone with high-level decision making
      authority within a Prospective Purchaser’s organization, and performs the
      Services; and

	 	 	 	 	 
	 		(ii) 	
      PEDX sells Granisol, or an interest in Granisol, to that
      Prospective Purchaser either

	 	 	 	 	 
	 			(A) 	
      during the Term of this Agreement,

	 	 	 	 	 
	 			(B) 	
      during a period of six (6) months following the
      expiration or sooner termination of the Term (the “Tail Period”),
      or

	 	 	 	 	 
	 			(C) 	
      pursuant to a written agreement with the Prospective
      Purchaser for the sale of Granisol entered into during the Term or the
      Tail Period,

	 		
      then such sale shall be considered to be a “Qualifying
      Transaction” the Company shall be eligible to receive the Fee, as
      defined in Section 2 of this Agreement, below.

	 	 	 
	 	(c) 	
      the Company acknowledges and agrees that PEDX shall be
      under no obligation to enter into any contract or other business
      relationship with any Prospective Purchaser and the decision to enter into
      any such contract or other business relationship and the terms thereof,
      shall be at the sole discretion of PEDX.

	2. 	
      Compensation

	 	 	 
		(a) 	
      Upon completion of a Qualifying Transaction, PEDX shall
      pay to the Company a fee (the “Fee”) in an amount equal to twenty percent
      (20%) of the net proceeds received by PEDX at closing (the “Proceeds”).
      The Fee shall be paid to the Company by PEDX within ten (10) days after
      receipt by PEDX. If any of the Proceeds are subject to a “holdback” or
      “clawback” or similar withholding or obligation to repay, the Fee shall be
      prorated and paid accordingly. If the Proceeds are received in any form
      other than cash, the Fee shall be paid in kind (by way of example, if the
      Proceeds consist of shares in the capital of the purchaser, the Fee shall
  consist of shares in the capital of the purchaser).

- 3 - 

	 	(b) 	
      Any costs, such as legal, accounting or similar expenses,
      that are directly attributable to the sale of Granisol, shall be borne by
      PEDX. The Company shall not incur any such expenses for the account of
      PEDX without the prior written approval of
PEDX.

	3. 	
      Confidentiality

	 	 	 	 
		(a) 	
      The Company acknowledges that its President is an
      executive officer and a director of PEDX and that it is already in
      possession of, and will during the Term continue to come into possession
      of, Confidential Information (as hereinafter defined). For the purposes of
      this Agreement, Confidential Information” means information, whether or
      not originated by the Company that relates to the business or affairs of
      PEDX, its affiliates, clients or suppliers and is confidential or
      proprietary to, about or created by PEDX, its affiliates, clients, or
      suppliers. Confidential Information includes, but is not limited to, the
      following types of confidential information and other proprietary
      information of a similar nature (whether or not reduced to writing or
      designated or marked as confidential):

	 	 	 	 
			(i) 	
      PEDX’s assets, as well as information relating to
      strategies, research, communications, business plans, and financial data
      of PEDX and any information of PEDX which is not readily publicly
      available;

	 	 	 	 
			(ii) 	
      work product resulting from or related to work or
      projects performed for or to be performed for PEDX or its affiliates,
      including but not limited to, the methods, processes, procedures,
      analysis, techniques and audits used in connection therewith;

	 	 	 	 
			(iii) 	
      any intellectual property contributed to PEDX, and any
      other technical and business information of PEDX, its subsidiaries and
      affiliates which is of a confidential, trade secret and/or proprietary
      character;

	 	 	 	 
			(iv) 	
      internal PEDX personnel and financial information,
      supplier names and other supplier information, purchasing and internal
      cost information, internal services and operational manuals, and the
      manner and method of conducting the business of PEDX;

	 	 	 	 
			(v) 	
      marketing and development plans, price and cost data,
      price and fee amounts, pricing and billing policies, quoting procedures,
      marketing techniques and methods of obtaining business, forecasts and
      forecast assumptions and volumes, current and prospective client lists,
      and future plans and potential strategies of PEDX that have been or are
      being discussed; and

	 	 	 	 
			(vi) 	
      all information that becomes known to the Company as a
      result of this Agreement or the services performed hereunder that the
      Company, acting reasonably, believes is confidential information or that
      PEDX takes measures to protect.

Confidential Information does not
include: 

- 4 - 

	 	(i) 	
      the general skills and experience gained by the Company
      during the Company’s provision of the Services to PEDX that the Company
      could reasonably have been expected to acquire in similar retainers or
      engagements with other companies;

	 	 	 
	 	(ii) 	
      information publicly known without breach of this
      Agreement or similar agreements; or

	 	 	 
	 	(iii) 	
      information, the disclosure of which by the Company is
      required to be made by any law, regulation or governmental authority or
      legal process of discovery (to the extent of the requirement), provided
      that before disclosure is made, notice of the requirement is provided to
      PEDX, and to the extent reasonably possible in the circumstances, PEDX is
      afforded an opportunity to dispute the
requirement.

	 	(b) 	
      All Confidential Information, whether it is developed by
      the Company during the Term or by others employed or engaged by or
      associated with PEDX or its affiliates, is the exclusive and confidential
      property of PEDX or its affiliates, as the case may be, and will at all
      times be regarded, treated and protected as such, as provided in this
      Agreement.

	 	 	 
	 	(c) 	
      At all times during and subsequent to the Company’s
      retainer with PEDX, the Company will not disclose Confidential Information
      to any person other than as necessary in carrying out the Services, or as
      may be required by applicable law or legal process of discovery, without
      first obtaining the written consent of PEDX, and the Company will take all
      reasonable precautions to prevent inadvertent disclosure of any
      Confidential Information disclosed by PEDX to it. This prohibition
      includes, but is not limited to, disclosing or confirming the fact that
      any similarity exists between the Confidential Information and any other
      information.

	 	 	 
	 	(d) 	
      At all times during and subsequent to the Company’s
      retainer with PEDX, the Company will not use, copy, transfer or destroy
      any Confidential Information other than as necessary in carrying out the
      Services, or as may be required by applicable law or process of discovery,
      without first obtaining the written consent of PEDX and the Company will
      take all reasonable precautions to prevent inadvertent use, copying,
      transfer or destruction of any Confidential Information disclosed by PEDX
      to the Company.

	 	 	 
	 	(e) 	
      Within ten (10) business days after the expiration or
      earlier termination of this Agreement for any reason, the Company will
      promptly deliver to PEDX all property of or belonging to or administered
      by PEDX in the Company’s custody, including without limitation all
      Confidential Information that is embodied in any form, whether in hard
      copy or on electronic media.

	 	 	 
	 	(f) 	
      The provisions of this Section 3 shall survive the
      expiration or earlier termination of this
Agreement.

	4. 	
      Term

	 	 	 
		(a) 	
      The parties hereto agree the term (the “Term”) of
      this Agreement shall commence upon the Effective Date and expire on the
      first anniversary of the Effective Date, unless otherwise terminated in
      accordance herewith.

	 	 	 
		(b) 	
      Either party may terminate this Agreement by written
      notice to the other party.

- 5 - 

	 	(c) 	
      The provisions of Section 2 and 3 of this Agreement shall
      survive the termination of this Agreement.

	5. 	
      Entire Agreement

	 	 	 
		
      Assignment; Successors and Assigns:

	 	 	 
		(a) 	
      This Agreement contains the entire agreement between the
      parties hereto and cannot be changed, modified or amended unless such
      change, modification or amendment is in writing and executed by the
      parties hereto.

	 	 	 
		(b) 	
      This Agreement may not be assigned by the Company. PEDX
      may assign this Agreement but only in connection with an internal
      reorganization of PEDX in which it transfers the Granisol asset to a
      subsidiary of PEDX and, in such event, it shall only be permitted to this
      Agreement to that subsidiary.

	 	 	 
		(c) 	
      The benefits of, and obligations under, this Agreement
      shall inure to, and be binding upon, the parties hereto and their
      respective successors and permitted assigns.

	 	 	 
	6. 	
      Governing Law

	 	 	 
		
      This Agreement shall be construed under and in accordance
      with, and be governed for all purposes by, the laws of the State of Nevada
      (without regard to the conflicts of law principles thereof).

	 	 	 
	7. 	
      Miscellaneous

	 	 	 
		(a) 	
      This Agreement constitutes the entire agreement between
      the parties with respect to its subject matter, and supersedes any prior
      understandings and agreements between the parties with respect to its
      subject matter. Further, there is no agreement, commitment arrangement or
      understanding between the parties pursuant to which the Company will act
      as advisor or agent of PEDX. There are no representations, warranties,
      forms conditions, undertakings or collateral agreements, express implied
      or statutory between the parties other than as expressly set forth in this
      Agreement. Any provision of this agreement which is prohibited or
      unenforceable in any jurisdiction shall as to such jurisdiction be
      ineffective to the extent of such prohibition or unenforceability without
      invalidating the remaining provisions hereof or affecting the validity or
      unenforceability of such provisions in any other jurisdiction.

	 	 	 
		(b) 	
      The Company is an independent contractor. The Company
      shall be responsible for, and shall keep PEDX indemnified and held
      harmless from and against, any and all claims, demands, suits, actions or
      proceedings of any nature asserted against PEDX, or for which PEDX may
      become liable, that arise out of the provision of the Services by the
      Company.

	 	 	 
		(c) 	
      The Company shall be responsible for ensuring compliance
      with all applicable laws and regulatory requirements in respect of its
      activities relating to this Agreement.

	 	 	 
		(d) 	
      Any notice, request, instruction or other document to be
      given hereunder by either party hereto to the other shall be in writing,
      and delivered personally or by overnight
courier.

- 6 - 

	 	(e) 	
      The headings of sections in this Agreement are for
      reference only and shall not limit or control the meaning
  thereof.

	 	 	 
	 	(f) 	
      This Agreement may be executed in one or more
      counterparts, each of which shall be deemed to be an original and all of
      which taken together shall constitute a single agreement. Delivery of an
      executed copy of this Agreement by electronic facsimile transmission or
      other means of electronic communication capable of producing a printed
      copy will be deemed to be execution and delivery of this Agreement as of
      the date first set forth above.

IN WITNESS WHEREOF, the parties have set their hands and
seals as of the day and year first above written. 

	PEDIATRX INC. 	 	PHYS PHARMA LLC 
	 	 	 	 	 
	Per: 		 	Per: 	
	 	 	 	 	 
	 	/s/
      Joseph Carusone 	 	 	/s/
      Dr. Cameron Durrant 
	 	Signature 	 	 	Signature 
	 	 	 	 	 
	 	Joseph
      Carusone 	 	 	Dr.
      Cameron Durrant 
	 	Name 	 	 	Name 
	 	 	 	 	 
	 	Director 	 	 	Owner    
	 	Title 	 	 	Title

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