Document:

Exhibit 10.1

 

EMPLOYMENT
AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (this “Agreement”),
effective as of this 31st day of August, 2020, is made by and between Hycroft Mining Holding Corporation, a Delaware
corporation (the “Company”) and Diane R. Garrett (the “Executive”).

 

WHEREAS, the Company desires to employ
the Executive in the capacity of President and Chief Executive Officer; and

 

WHEREAS, the Company and the Executive
have reached agreement concerning the terms and conditions of her employment and wish to formalize that agreement.

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements set forth in this Agreement, the Company and the Executive agree as follows:

 

1.            Employment.
The Company hereby employs the Executive as President and Chief Executive Officer effective as of September 8, 2020 (the “Effective
Date”) and the Executive hereby accepts such employment upon the terms and conditions set forth in this Agreement. The
Executive will report to the board of directors of the Company (the “Board”). The Executive’s principal
office will be at the principal executive offices of the Company in Denver, Colorado or such other location as may be determined
by the Board of Directors; provided, however, it is also understood and expected that the Executive may spend substantial
amounts of time at the Company’s primary operating mine in Winnemucca, Nevada (the “Hycroft Mine”). By
action of the Board of Directors, you will also be appointed as a member of the Company’s Board of Directors and will be
nominated by the Nominating and Governance Committee for a seat on the Board of Directors each year during your employment by the
Company.

 

2.            Duties.   During
the Term, the Executive shall serve as the Chief Executive Officer of the Company. In this capacity, the Executive shall have the
duties, authorities and responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities
in similarly sized companies, and such other duties, authorities and responsibilities as may reasonably be assigned to the Executive
by the Board and that are not inconsistent with the Executive’s position as Chief Executive Officer of the Company. All other
employees of the Company shall report, either directly or indirectly, to the Executive. In addition:

 

(a)           The
Executive will devote her full time and best efforts, talents, knowledge and experience to serving as the Company’s President
and Chief Executive Officer. The Executive will perform her duties diligently and competently and will act in conformity with Company’s
written and oral policies and within the limits, budgets and business plans set by the Company. The Executive will at all times
during the Term of this Agreement strictly adhere to and obey all of the rules and regulations in effect from time to time
relating to the conduct of executives of the Company. The Executive will not engage in consulting work or any trade or business
for her own account or for or on behalf of any other person, firm or company that, as determined by the Board in its sole discretion,
competes, conflicts or interferes with the performance of here duties hereunder in any material way.

 

    1

     

    

 

(b)          The
Executive agrees to serve without additional compensation as an officer and director of any of the Company’s subsidiaries
and agrees that any amounts, if any, received from such subsidiary may be offset against the amounts due hereunder.

 

(c)          Subject
to the approval of the Nominating and Governance Committee, which approval shall not be unreasonably withheld, you may serve on
one (1) additional board of directors of a company, provided that such service does not conflict with or detract from the
performance of your duties as President and Chief Executive Officer of the Company. The Company hereby approves of the continuation
of your current service on the board of directors of NovaGold Resources, Inc. as such additional board of directors position.
The Company further agrees to your continued service as an advisor to Nickel Creek Platinum Corporation, provided that such service
does not conflict with or detract from the performance of your duties as President and Chief Executive Officer of the Company.

 

3.            Term.
Unless sooner terminated by either party in accordance with the provisions of this Agreement, the term of employment (the “Term”)
will commence on the Effective Date and will continue thereafter until the third anniversary of the Effective Date. Unless otherwise
provided in this Agreement or mutually agreed by the Company and the Executive, all of the terms and conditions of this Agreement
will continue in full force and effect throughout the Term and, with respect to those terms and conditions that apply after the
Term, after the Term. Any representation, statement or implication to the contrary is unauthorized and not valid. After the Term
hereof, the Executive shall be deemed to be an “at-will” employee during the continuation of her employment by the
Company. For purposes of this Agreement, expiration of this Agreement will not be considered a termination other than for Cause
(as hereinafter defined) or voluntary termination for Good Reason (as hereinafter defined), provided that the Executive’s
employment is not otherwise terminated prior to such expiration date.

 

4.            Compensation
and Benefits.

 

(a)          Base
Salary. The Company shall pay a base annual salary of US$550,000 (“Base Salary”) to the Executive payable
in accordance with the normal payroll practices of the Company and which shall be subject to applicable withholdings, deductions
and taxes. The Board, or the Compensation Committee thereof, will review the Executive’s performance and Base Salary annually
in February of each year and determine whether to adjust the Executive’s Base Salary on a prospective basis. Such adjusted
annual salary then will become the Executive’s “Base Salary” for all purposes of this Agreement. The Executive’s
annual Base Salary will not be reduced below the Base Salary then in effect, without the Executive’s consent other than a
reduction in salary generally applicable to executive employees of the Company.

 

(b)          Incentive
Compensation. The Executive will be eligible to participate in any annual performance bonus plans and long-term incentive plans
established or maintained by the Company for its senior executive officers, including, but not limited to, the Annual Incentive
Cash Bonus Plan (“Cash Bonus Plan”) or such similar or successor plans as the Company may establish. The Executive’s
target incentive cash bonus under the Cash Bonus Plan shall initially be set at 70% of the Executive’s Base Salary, with
bonus payments ranging from 0 to 200% of the bonus target based upon specific individual and corporate performance metrics under
the Cash Bonus Plan to be determined from time to time by the Board or Compensation Committee thereof, including: (i) gold
and gold equivalent production/sales, (ii) total cash costs of production per gold or gold equivalent ounce, (iii) health
and safety, and/or (iv) such other metrics as are determined by the Board or Compensation Committee thereof. Any bonus earned
by the Executive will be paid in accordance with the Company’s standard practice, which shall not be later than March 15
of the year following the end of the calendar year in which the Executive earns and vests in the right to receive the bonus or
compensation, unless a written plan document provides a different payment date. Any annual performance bonus payable for 2020 shall
reflect the portion of the year of service.

 

    2

     

    

 

(c)           Equity
Compensation. The Executive will be eligible to participate in any equity-based compensation plans established or maintained
by the Company for its senior executive officers, including the HYMC 2020 Performance and Incentive Plan (“Equity Plan”),
for ongoing annual equity awards. The Executive shall be entitled to equity awards initially targeted at 200% of the Executive’s
Base Salary, with 50% of such awards initially in the form of performance-based equity awards which vest and pay up to 200% of
target based upon satisfaction of performance-based metrics (the “Performance-Based Equity Awards”) to be determined
by the Board or Compensation Committee thereof at the end of the performance period, and with the remaining 50% of such awards
initially in the form of time-based equity awards with vesting based upon continued employment by the Company (the “Time-Based
Equity Awards”), with 33% of the Time-Based Equity Awards vesting after one (1) year of continued employment, 33%
of the Time-Based Equity Awards vesting after two (2) years of continued employment and the remaining 34% vesting after three
(3) years of continued employment. The Performance-Based Equity Awards and the Time-Based Equity Awards will initially be
in the form of restricted stock units convertible upon vesting into shares of Class A common stock, par value $0.0001 per
share (“Common Stock”) of the Company, subject to the terms and conditions set forth in written equity award
agreements, with the number of units to be awarded to be determined by closing price of the Common Stock on the Nasdaq Capital
Market, or such other national securities exchange on which the Common Stock is listed for trading in the United States, on the
grant date of such award. The foregoing equity awards shall contain the following double trigger vesting provision that in the
event of a Change in Control transaction of the Company (as hereinafter defined), then if the Executive is terminated within 90
days prior to the consummation of such Change in Control transaction or within 12 months following the consummation of such Change
in Control transaction, then vesting of such equity awards shall accelerate and such equity awards shall be fully vested.

 

(d)          Initial
Equity Award. Upon execution of this Agreement, Executive shall be entitled to receive an initial equity award in the form
of restricted stock units in the amount of $1,000,000, as determined by the closing price of the Common Stock on the Nasdaq Capital
Market on the grant date and vesting in whole and not in part on the fourth anniversary of the grant date, subject to the terms
of the initial restricted stock unit agreement (time-vesting) pursuant to which such award shall be made. Such initial equity award
shall be issued on the Effective Date of your employment under this Agreement.

 

    3

     

    

 

(e)          Benefits.
During her employment, the Executive shall be entitled to participate in or benefit from, in accordance with the eligibility and
other provisions thereof, benefit plans and policies such as medical, dental, disability, insurance, retirement savings plans or
other fringe benefit plans or policies as the Company may make available to, or have in effect for, its senior executive officers.
The Company reserves the right to modify, suspend or discontinue any and all of the plans, practices, policies and programs at
any time without recourse by the Executive, so long as the Company takes such action generally with respect to other similarly
situated senior executive officers.

 

(f)           Vacation
and Sick Leave. The Executive will be entitled to vacation and sick leave in accordance with the Company’s vacation and
sick leave policy for senior executive officers, but in no event less than four (4) weeks per calendar year. Unused vacation
will not be carried over to the next calendar year.

 

(g)          Reimbursement
of Business Expenses. The Company agrees to reimburse the Executive for reasonable out-of-pocket expenses incurred in connection
with Company business, including without limitation, travel and accommodations for travel authorized business trips, including,
without limitation, travel and extended stays at the Hycroft Mine, and within standards to be established by the Board, provided
receipts, invoices or other supporting documentation satisfactory to the Company supporting the expenses are presented to the Company.
The Company will provide you with, at the Company’s expense, use of (i) laptop computer, (ii) cellular telephone
and (iii) a Company vehicle for travel to the Hycroft Mine.

 

(h)          Professional
Dues. The Company will reimburse you for professional dues to the Society of Mining Engineers, the National Mining Association,
the Nevada Mining Association and such other professional organizations as approved by the Compensation Committee.

 

5.            Payments
on Termination of Employment.

 

(a)          Termination
of Employment for any Reason. Upon termination of the Executive’s employment for any reason, including without limitation,
the expiration of this Agreement, the Company will pay or provide the following to the Executive upon her termination of employment
from the Company for any reason:

 

(i)            Earned
but unpaid Base Salary through the date of termination;

 

(ii)           Any
annual incentive bonus, or other form of incentive compensation, for which the performance measurement period has ended and the
Executive has become eligible and earned in accordance with Section 4(b) above, but which is unpaid at the time
of termination;

 

(iii)          Any
amounts payable to the Executive under any of the Company’s executive benefit plans (other than any severance or termination
pay plan) in accordance with the terms of those plans;

 

(iv)          Unreimbursed
business expenses incurred by the Executive on the Company’s behalf; and

 

    4

     

    

 

(v)           Continued
coverage under the Company’s group health plan for the Executive during the COBRA continuation period; provided that
the Executive timely elects COBRA continuation coverage and pays the applicable COBRA rate for such continued coverage.

 

(b)          Termination
of Employment for Death or Disability. If the Executive’s termination of employment occurs by reason of death or Disability
(as defined below), in addition to the amounts payable and benefits provided under Section 5(a) above, the Company
will pay the Executive (or her estate) a pro rata portion of any bonus payable under the Company’s Cash Bonus Plan and/or
Retention Bonus Plan, as the case may be, for the year in which such termination occurs determined based on the actual bonus attained
for the fiscal year in which such termination occurs.

 

For purposes of this Agreement, “Disability”
means the Executive’s long-term disability as defined by and determined under the Company’s long-term disability plan,
or if the Executive is not covered by a long-term disability plan sponsored by the Company the Executive’s inability (as
determined by the Board or Compensation Committee thereof in its discretion, acting reasonably) to engage in any substantial gainful
activity by reason of any medically-determined physical or mental impairment that can be expected to result in death or to be of
long-continued and indefinite duration.

 

(c)           Termination
by the Company other Than for Cause or Voluntary Termination by the Executive for Good Reason. If the Company terminates the
Executive’s employment other than for Cause, or if the Executive voluntarily terminates her employment for Good Reason, in
addition to the amounts payable under Section 5(a) above and in lieu of the benefit provided in Section 5(a)(v) above,
and subject to the provisions under this Section 5(c), Section 9(a) and Section 9(f),
the Company will pay the following amounts and provide the following benefits to the Executive:

 

(i)            An
amount in cash equal to 1.5 multiplied by the Executive’s Base Salary. This amount will be paid in equal installments during
the 18 month period after termination in accordance with the Company’s normal payroll practices, provided, however,
that any installments that would otherwise be payable within the first 60 days following the date of the Executive’s termination
will be paid to the Executive on the 60th day following such termination.

 

(ii)           Continued
coverage under the Company’s medical, dental, life, and disability plans through the 18-month anniversary of the date that
Executive’s employment was terminated, at the same cost to the Executive as in effect on the date of the Executive’s
termination. Any continuation of group health plan benefits is conditioned upon the Executive timely electing COBRA continuation
coverage and timely paying her share of the premium. If the Company determines that the Executive cannot participate in any benefit
plan because she is not actively performing services for the Company, the Company may provide such benefits under an alternate
arrangement, such as through the purchase of an individual insurance policy that provides similar benefits or a lump sum cash payment
equal to the cost that the Company would have paid under the plan(s) for which coverage would have otherwise been available.
Any cash amounts payable under an alternative arrangement will be paid to the Executive on the 60th day after the date
of the Executive’s termination; provided, however, that any alternative arrangement provided through an insurance
policy (e.g., health care and disability insurance) will be paid when the related premiums are due to the insurer.

 

    5

     

    

 

(iii)          Professional
outplacement services from a nationally recognized outplacement firm selected by the Executive provided to the Executive until
the earlier of (A) $15,000 in the aggregate to be paid by the Company to such outplacement firm on behalf of the Executive,
or (B) 12 months after the Executive’s termination date, whichever occurs first.

 

Notwithstanding anything to the contrary in this Agreement,
any obligation of the Company to provide any payment, coverage or benefit described in this Section 5(c) is conditioned
upon (A) the Executive’s execution and delivery to the Company of a valid General Release Agreement (a “Release”)
in the form prepared by the Company within 25 days of the date of the Executive’s termination and (B) the Executive’s
refraining from revoking the Release as permitted therein. The Executive’s failure to execute the Release within the later
of 45 days of the date of the Executive’s termination or 25 days after receipt by the Executive of the Release, or her revocation
of the Release, will result in forfeiture of any payment, coverage or benefit described in this Section 5(c).

 

(d)          Good
Reason. For purposes of this Agreement, “Good Reason” means the occurrence of any of the following without
the Executive’s consent: (i) a material reduction or a material adverse alteration in the nature of the Executive’s
position, responsibilities or authorities or the assigning of duties to the Executive that are materially inconsistent with those
of the position of a President and Chief Executive of a company of comparable size in a comparable industry; (ii) the Executive’s
becoming the holder of a lesser office or title than that previously held; (iii) any material breach of this Agreement by
the Company that causes an adverse change to the terms and conditions of the Executive’s employment; (iv) the Company
requires the Executive to relocate her principal business office to a location not within 75 miles of the Company’s principal
executive office located in Denver, Colorado or the Hycroft Mine, other than a relocation to Reno, Nevada; (v) any reduction
in the Executive’s salary, other than a reduction in salary generally applicable to executive employees; or (vi) failure
of the Company to pay the Executive any amount otherwise vested and due under this Agreement or under any plan or policy of the
Company following written notice by the Executive to the Company identifying the failure and the basis for such payment and the
Company’s failure to cure within 10 days following receipt of such written notice.  In no event will a resignation be
deemed to occur for “Good Reason” unless the Executive provides notice to the Company, and such resignation occurs,
within 90 days after the event or condition giving rise thereto.  Upon receiving notice from the Executive, the Company shall
have a period of 30 days during which it may remedy the event or condition.

 

    6

     

    

 

(e)          Cause.
For purposes of this Agreement, “Cause” shall mean that one or more of the following has occurred: (i) the
Executive is convicted of a felony or pleads guilty or nolo contendere to a felony (whether or not with respect to the Company
or any of its affiliates); (ii) a failure of the Executive to substantially perform her responsibilities and duties to the
Company which, to the extent curable, is not remedied within 10 days after the Executive’s receipt of written notice given
by any member of the Board identifying the failure in reasonable detail and granting the Executive an opportunity to cure such
failure within such 10 day period; (iii) the failure of the Executive to carry out or comply with any lawful and reasonable
directive of the Board (or any committee of the Board), which, to the extent curable, is not remedied within 10 days after the
Executive’s receipt of written notice given by or on behalf of the Company identifying the failure in reasonable detail and
granting the Executive an opportunity to cure such failure within such 10 day period; (iv) the Executive engages in illegal
conduct, any breach of fiduciary duty (if any), any act of material dishonesty or other misconduct, in each case in this clause
(iv), against the Company or any of its affiliates; (v) a material violation or willful breach by the Executive of any of
the policies or procedures of the Company, including, without any limitation, any employee manual, handbook or code of conduct
of the Company which, to the extent curable, is not remedied within 10 days after the Executive’s receipt of written notice
given by or on behalf of the Company identifying the violation or breach in reasonable detail and granting the Executive an opportunity
to cure such violation or breach within such 10 day period; (vi) the Executive fails to meet any material obligation the Executive
may have under any agreement entered into with the Company which, to the extent curable, is not remedied within 10 days after the
Executive’s receipt of written notice given by any member of the Company identifying the failure in reasonable detail and
granting the Executive an opportunity to cure such failure within such 10 day period; (vii) the Executive’s failure
to maintain any required applicable license, permit or card required by the federal or state authorities or a political subdivision
or agency thereof (or the suspension, revocation or denial of such license, permit or card); or (viii) the Executive’s
breach of any non-compete, non-solicit, confidentiality or other restrictive covenant to which the Executive may be subject, pursuant
to an employment agreement or otherwise.

 

(f)            Concurrent
Resignation and Removal from Any Boards and Positions. If the Executive’s employment is terminated for any reason under
this Agreement, such termination will constitute her resignation and removal from: (i) if a member, the Board and/or board
of directors of any subsidiary of the Company, or any other board to which he has been appointed or nominated by or on behalf of
the Company; (ii) any position with the Company or any of its subsidiaries, including, but not limited to, as an officer of
the Company or any of its subsidiaries, and (iii) any fiduciary positions with respect to the Company’s benefit plans.

 

6.            Change
in Control.

 

(a)            Payments
and Benefits upon Termination after a Change in Control. If within 90 days prior to, or one year after, a Change in Control
(as defined below), the Company (or its successor) terminates the Executive’s employment for reasons other than for Cause,
the Executive incurs a Disability or if the Executive voluntarily terminates her employment for Good Reason, and subject to the
provisions of this Section 6(a), Section 9(a) and Section 9(f), the Company will provide the
following payments and benefits to the Executive, in lieu of those payments and benefits provided under Section 5(a)(v) and
Section 5(b) or (c), as applicable, but in addition to the amounts payable under Sections 5(a)(i) through
5(a)(iv) above:

 

    7

     

    

 

(i)            An
amount equal to 2.0 multiplied by the Executive’s Base Salary. This cash payment will be paid to the Executive on the 60th
day following the date of the Executive’s termination; provided, however, that if the Change in Control
does not constitute a “change in control event” pursuant to Treas. Reg. §1.409A-3(i)(5)(i), then to the extent
that the cash payment does not qualify as a short-term deferral under Code Section 409A and Treas. Reg. §1.409A-1(b)(4),
or for the exclusion for separation pay due to an involuntary separation from service to the extent permitted under Code Section 409A
and Treas. Reg. §1.409A-1(b)(9)(iii) then the payment shall be made in accordance with the schedule set forth in Section 5(c) (as
may be modified in accordance with Section 9(a)).

 

(ii)           An
amount in cash equal to 2.0 multiplied by the sum of the Executive’s Annual Bonus. For this purpose, “Annual Bonus”
means the greater of: (A) the actual bonus paid for the fiscal year immediately preceding such termination; (B) the actual
bonus attained for the fiscal year in which such termination occurs; or (C) the target bonus for the fiscal year in which
such termination occurs prior to the first anniversary of this Agreement. This cash payment will be paid to the Executive in a
lump sum on the 60th day following the date of the Executive’s termination; provided, however, that
if the Change in Control does not constitute a “change in control event” pursuant to Treas. Reg. §1.409A-3(i)(5)(i),
then to the extent that the cash payment does not qualify as a short-term deferral under Code Section 409A and Treas. Reg.
§1.409A-1(b)(4), or for the exclusion for separation pay due to an involuntary separation from service to the extent permitted
under Code Section 409A and Treas. Reg. §1.409A-1(b)(9)(iii) then the payment shall be made in accordance with the
schedule set forth in Section 5(c) (as may be modified in accordance with Section 9(a)).

 

(iii)          Continued
coverage under the Company’s medical, dental, life, and disability plans through the 24-month anniversary of the date that
Executive’s employment was terminated, at the same cost to the Executive as in effect on the date of the Change in Control
(or, if lower, as in effect at any time thereafter). Any continuation of group health plan benefits is conditioned upon the Executive
timely electing COBRA continuation coverage and timely paying her share of the premium. If the Company determines that the Executive
cannot participate in any benefit plan because he is not actively performing services for the Company, the Company may provide
such benefits under an alternate arrangement, such as through the purchase of an individual insurance policy that provides similar
benefits or a lump sum cash payment equal to the cost that the Company would have paid under the plan(s) for which coverage
would have otherwise been available. Any cash amounts payable under an alternative arrangement will be paid to the Executive on
the 60th day after the date of the Executive’s termination; provided, however, that any alternative arrangement
provided through an insurance policy (e.g., health care and disability insurance) will be paid when the related premiums
are due to the insurer.

 

(iv)          Professional
outplacement services from a nationally recognized outplacement firm selected by the Executive provided to the Executive until
the earlier of (A) $15,000 in the aggregate to be paid by the Company to such outplacement firm on behalf of the Executive,
or (B) 12 months after the Executive’s termination date.

 

    8

     

    

 

Notwithstanding anything to the contrary in this Agreement,
any obligation of the Company to provide any payment, coverage or benefit described in this Section 6(a) is conditioned
upon (A) the Executive’s execution and delivery to the Company of the Release described in Section 5(c) within
45 days of the date of the Executive’s termination and (B) the Executive’s refraining from revoking the Release
as permitted therein. The Executive’s failure to execute the Release within 45 days of the date of the Executive’s
termination or 25 days after receipt by the Executive of the Release, or her revocation of the Release, will result in forfeiture
of any payment, coverage or benefit described in this Section 6(a).

 

(b)          Definition
of Change in Control. For purposes of the Agreement, a “Change in Control” of the Company will be deemed
to occur as of the first day that one or more of the following conditions is satisfied:

 

(i)            The
“beneficial ownership” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”)) of securities representing more than 50% of the combined voting power of the then outstanding
voting securities of the Company entitled to vote generally in the election of directors (the “Company Voting Securities”)
is accumulated, held or acquired by a “Person” (as defined in Section 3(a)(9) of the Exchange Act,
as modified and used in Sections 13(d) and 14(d) thereof) (other than the Company, any trustee or other fiduciary holding
securities under an employee benefit plan of the Company, holders of capital stock of the Company as of the date hereof or a subsidiary
thereof, any corporation owned, directly or indirectly, by the Company’s stockholders in substantially the same proportions
as their ownership of stock of the Company); provided, however, that any acquisition from the Company or any acquisition
pursuant to a transaction that complies with clauses (A), (B) and (C) of this Section (6)(b)(iii) will
not be a Change in Control under this Section 6(b)(i); provided further, that immediately prior to such accumulation,
holding or acquisition, such Person was not a direct or indirect beneficial owner of 15% or more of the Company Voting Securities
as of the date of this Agreement; or

 

(ii)           Individuals
who, as of the date of the Agreement, constitute the Board (the “Incumbent Board”) cease for any reason to constitute
at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof
whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of
the directors then comprising the Incumbent Board will be considered as though such individual were a member of the Incumbent Board;
or

 

    9

     

    

 

(iii)          Consummation
by the Company of a reorganization, merger or consolidation, or sale or other disposition of all or substantially all of the assets
of the Company or the acquisition of assets or stock of another entity (a “Business Combination”), in each case,
unless immediately following such Business Combination: (A) more than 50% of the combined voting power of then outstanding
voting securities entitled to vote generally in the election of directors of (x) the corporation resulting from such Business
Combination (the “Surviving Corporation”), or (y) if applicable, a corporation that as a result of such
transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries
(the “Parent Corporation”), is represented, directly or indirectly by Company Voting Securities outstanding
immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company Voting Securities
were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the
same proportions as their ownership, immediately prior to such Business Combination, of the Company Voting Securities; (B) no
Person (excluding any employee benefit plan (or related trust) of the Company or such corporation resulting from such Business
Combination) beneficially owns, directly or indirectly, 40% or more of the combined voting power of the then outstanding voting
securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation)
except to the extent that (x) such ownership of the Company existed prior to the Business Combination or (y) that immediately
prior to such Business Combination, such Person was a direct or indirect beneficial owner of 15% or more of the Company Voting
Securities as of the date of this Agreement, and (C) at least a majority of the members of the board of directors of the Parent
Corporation (or, if there is no Parent Corporation, the Surviving Corporation) were members of the Incumbent Board at the time
of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination.

 

Notwithstanding anything to the contrary in the foregoing, in
no event will a Change in Control be deemed to have occurred with respect to the Executive if the Executive is part of a purchasing
group that consummates the Change in Control transaction. The Executive will be deemed “part of a purchasing group”
for purposes of the preceding sentence if the Executive is an equity participant in the purchasing company or group (except (i) passive
ownership of less than two percent of the stock of the purchasing company; or (ii) ownership of equity participation in the
purchasing company or group that is otherwise not significant, as determined prior to the Change in Control by a majority of the
nonemployee continuing Directors.

 

7.            Executive
Nondisclosure, Noncompetition, Nonsolicitation and Inventions Agreement. As a condition of the Executive’s employment
by the Company and the payment of compensation and receipt of benefits referred to above, the Executive will enter into an Executive
Nondisclosure, Noncompetition, Nonsolicitation and Inventions Agreement in the form attached hereto as Exhibit A (the
“ENNNI Agreement”), containing confidentiality, non-solicitation and non-competition restrictive covenants.
The Executive acknowledges and agrees that execution and compliance with the ENNNI Agreement, the terms of which ENNNI Agreement
are incorporated herein by reference, is an essential term and condition of this Agreement and that the ENNNI Agreement is supported
by adequate and sufficient consideration, including but not limited to the Executive’s employment with the Company.

 

    10

     

    

 

8.            Indemnification
and Insurance. The Company will indemnify the Executive in accordance with the Company’s Certificate of Incorporation
and Bylaws to the fullest extent permitted by law in the event he is made or threatened to be made a party to any action, suit,
or proceeding, whether criminal, civil, administrative or investigative, by reason of the fact that she is or was a director, officer,
or employee of the Company and its subsidiaries, or serves any other enterprise as a director, officer, or employee at the request
of the Company.  While employed by the Company or any of its subsidiaries, the Company will maintain the Executive as an insured
party on all directors’ and officers’ insurance maintained by the Company for the benefit of its directors and officers
on at least the same basis as all other covered individuals (and subject to the same exclusions from coverage) with respect to
time periods where the Executive served as an employee of the Company and its subsidiaries.

 

9.            Compliance
with Code Section 409A and Treasury Regulations.

 

(a)          Payments
under Sections 5(c) and 6(a) of this Agreement are intended to qualify as short-term deferrals or otherwise be
exempt from Code Section 409A. However, if the Company reasonably determines that a payment under Section 5(c) or
6(a) above does not qualify as a short-term deferral under Code Section 409A and Treas. Reg. §1.409A-1(b)(4),
or for the exclusion for separation pay due to an involuntary separation from service to the extent permitted under Code Section 409A
and Treas. Reg. §1.409A-1(b)(9)(iii) and the Executive is a Specified Employee (as defined below) as of the date of termination,
such payment to the Executive may not be made before the date that is six months after the date of her separation from service
or, if earlier, the date of the Executive’s death. Payments to which the Executive would otherwise be entitled during the
first six months following the date of separation will be accumulated and paid on the first day of the seventh month following
the date of termination. For purposes of this Agreement, “Specified Employee” has the meaning given in Code
Section 409A and Treas. Reg. §1.409A-1(c)(i). The Company’s “specified employee identification date”
(as described in Treas. Reg. §1.409A-1(c)(i)(3)) will be December 31 of each year, and the Company’s “specified
employee effective date” (as described in Treas. Reg. §1.409A-1(c)(i)(4)) will be February 1 of each succeeding
year.

 

(b)          This
Agreement is intended to comply with, or be exempt from, the requirements of Code Section 409A and the Treasury Regulations
and other administrative guidance issued thereunder and all provisions of this Agreement shall be construed in a manner consistent
with the requirements for avoiding taxes or penalties under Code Section 409A.

 

(c)          Each
payment or installment under this Agreement shall constitute a separate payment for purposes of Code Section 409A.

 

(d)          To
the extent that any amount payable upon termination of employment constitutes “nonqualified deferred compensation”
subject to the requirements of Code Section 409A, any reference to such termination shall mean a “separation from service”
(as defined in Treas. Reg. §1.409A-1 (h)).

 

(e)          With
regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by
Code Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange
for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable
year shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided
that the foregoing clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Code
Section 105(b) solely because such arrangement provides for a limit on the amount of expenses that may be reimbursed
over some or all of the period the arrangement is in effect and (iii) such payments shall be made on or before the last day
of your taxable year following the taxable year in which the expenses was incurred.

 

    11

     

    

 

(f)           In
the event that the Company’s independent registered public accounting firm or the Internal Revenue Service determines that
any payment, coverage or benefit due or owing to the Executive pursuant to this Agreement is subject to the additional tax imposed
by Code Section 409A or any successor provision thereof or any interest or penalties, including interest imposed under Code
Section 409(A)(1)(B)(i)(I), incurred by the Executive as a result of the application of such provision, the Company agrees
to cooperate with the Executive to execute any amendment to the provisions hereof reasonably necessary but only (i) to the
minimum extent necessary to avoid application of such tax, and (ii) to the extent that the Company would not, as a result,
suffer any adverse consequences (including, without limitation, accelerating the payment or provision of any benefit described
herein).

 

(g)          Notwithstanding
anything in this Section 9 or any other provision of this Agreement, if any payment under this Agreement gives rise,
directly or indirectly, to liability for an additional income tax or penalty under Code Section 409A (and/or any penalties
and/or interest with respect to such additional income tax or penalty), the Executive shall bear the cost of any and all such taxes,
penalties and interest.

 

10.          [Reserved].

 

11.          Miscellaneous.

 

(a)          Assignment;
Successors. This Agreement will be binding upon and inure to the benefit of the heirs and representatives of the Executive
and the assigns and successors of the Company, but neither this Agreement nor any rights hereunder will be assignable or otherwise
subject to hypothecation by the Executive (except by will or by operation of the laws of intestate succession) or by the Company,
except that the Company may assign this Agreement to any successor (whether by merger, purchase or otherwise) to all or substantially
all of the stock, assets or businesses of the Company.

 

(b)          Governing
Law and Forum for Disputes. The laws of the State of Colorado will govern the validity, interpretation, construction and performance
of this Agreement, without regard to the conflict of laws principles thereof. Any action or proceeding against the parties relating
in any way to this Agreement or the Executive’s employment (a “Dispute”) must be brought and enforced
in the courts of the State of Colorado, and the parties irrevocably (i) submit to the jurisdiction of such courts in respect
of any such action or proceeding and (ii) waive any right to a trial by jury of any Dispute.

 

(c)          Withholding.
The Company may withhold from any payment that it is required to make under this Agreement amounts sufficient to satisfy applicable
withholding requirements under any federal, state or local law.

 

    12

     

    

 

(d)          Modification
or Amendment. No provisions of this Agreement may be modified, waived, or discharged except by a written document signed by
a Company officer or director duly authorized by the Board and the Executive.

 

(e)          Notices.
Notices given pursuant to this Agreement will be in writing and will be deemed received when personally delivered, or on the date
of written confirmation of receipt by (i) overnight carrier, (ii) facsimile with confirmation of delivery, (iii) registered
or certified mail, return receipt requested, addressee only, postage prepaid, or (iv) such other method of delivery, including
electronic transmission, that provides a written confirmation of delivery. Notice to the Company will be directed to:

 

Hycroft Mining Holding Corporation

8181 E. Tufts, Suite 510

Denver, CO 80237

Attention: Compensation Committee Chair

 

with a copy to:

 

Neal, Gerber & Eisenberg, LLP

2 N. LaSalle Street, Suite 1700

Chicago, IL 60602

Attention: David S. Stone, Esq.

email: dstone@nge.com

 

The Company may change the person and/or address to whom the
Executive must give notice under this Section by giving the Executive written notice of such change, in accordance with the
procedures described above. Notices to or with respect to the Executive will be directed to the Executive, or to the Executive’s
executors, personal representatives or distributees, if the Executive is deceased, or the assignees of the Executive, at the Executive’s
home address on the records of the Company, or such other address provided to the Company in accordance with the procedures described
above.

 

(f)           Severability.
If any provisions of this Agreement will be found invalid or unenforceable by a court of competent jurisdiction, in whole or in
part, then it is the parties’ mutual desire that such court modify such provision(s) to the extent and in the manner
necessary to render the same valid and enforceable, and this Agreement will be construed and enforced to the maximum extent permitted
by law, as if such provision(s) had been originally incorporated herein as so modified or restricted, or as if such provision(s) had
not been originally incorporated herein, as the case may be.

 

(g)          No
Waiver. No failure or delay by the Company or the Executive in enforcing or exercising any right or remedy hereunder will operate
as a waiver thereof. No modification, amendment or waiver of this Agreement or consent to any departure by the Executive from any
of the terms or conditions thereof, will be effective unless in writing and signed by the Executive Vice President and Chief Financial
Officer. Any such waiver or consent will be effective only in the specific instance and for the purpose for which given.

 

    13

     

    

 

(h)          Successors.
This Agreement shall be binding upon, and shall inure to the benefit of, the Executive and her estate, but the Executive may not
assign or pledge this Agreement or any rights arising under it. Without the Executive’s consent, the Company may assign this
Agreement to any affiliate or to a successor to substantially all the business and assets of the Company.

 

(i)           Effect
on Other Obligations. Payments and benefits herein provided to be paid to the Executive by the Company will be made without
regard to and in addition to any other payments or benefits required to be paid the Executive at any time hereafter under the terms
of any other agreement between the Executive and the Company (it being understood and agreed that the Executive will not be entitled
to severance or termination benefits in addition to those provided herein under any severance or termination plan of the Company
or its subsidiaries). No payments or benefits provided the Executive hereunder will be reduced by any amount the Executive may
earn or receive from employment with another employer or from any other source without violation of this Agreement. In no event
will the Executive be obliged to seek other employment or take any other action by way of mitigation of the amounts payable to
the Executive under any of the provisions of this Agreement.

 

(j)           Survival.
The provisions of this Agreement, including but not limited to Sections 9 and 11 hereof and the ENNNI Agreement, to the
extent consistent with or necessary to carry out the purposes thereof, shall survive termination of this Agreement or termination
of the Executive’s employment with the Company or any successor or assign regardless of the reason for such termination.

 

(k)          Entire
Agreement. The Executive acknowledges receipt of this Agreement and agrees that with respect to the subject matter hereof it,
along with the ENNNI Agreement, contains the entire understanding and agreement with the Company, superseding any previous oral
or written communication, representation, understanding or agreement with the Company or any representative thereof. No term or
condition should be construed strictly against any party on the basis that it was drafted by such party.

 

(l)           Headings.
The headings in this Agreement are for convenience of reference only and will not limit or otherwise affect the meaning thereof.

 

(m)         Counterparts. 
This Agreement may be executed in any number of counterparts, including by facsimile or PDF, each of which shall be deemed an original,
and all of which shall constitute one and the same instrument.

 

[Signature page to follow]

 

    14

     

    

 

IN
WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of the date
set forth above.

 

	EXECUTIVE 	 	HYCROFT MINING HOLDING CORPORATION 
	 	 	 
	/s/ Diane R. Garrett	 	By:	/s/ David Kirsch
	Diane R. Garrett	 	Name: David Kirsch
	 	 	Its: Chairman of Compensation Committee 

 

    15Exhibit 10.2

 

HYCROFT MINING HOLDING CORPORATION

RESTRICTED STOCK UNIT AGREEMENT

(TIME-VESTING)

 

THIS AGREEMENT (the “Agreement”)
is made and entered into as of this 31st day of August, 2020, by and between Hycroft Mining Holding Corporation, a Delaware
corporation (the “Corporation”), and Diane R. Garrett (the “Participant”), pursuant to the
HYMC 2020 Performance and Incentive Pay Plan (the “Plan”). This Agreement and the award contained herein are
subject to the terms and conditions set forth in the Plan, which are incorporated by reference herein, and the following terms
and conditions. Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Plan.

 

WITNESSETH:

 

WHEREAS, the Participant has agreed to accept
employment as the President and Chief Executive Officer of the Corporation;

 

WHEREAS, the Corporation has adopted the
Plan in order to promote the interests of the Corporation, its Affiliated Entities and its stockholders by using stock-based and
cash-based incentives to attract, retain and motivate its management and other persons to encourage and reward such persons contributing
to the performance of the Corporation and to align their interests with the interests of the Corporation’s stockholders;
and

 

WHEREAS, the Compensation Committee (the
“Committee”) of the Board of Directors of the Corporation (the “Board”) has determined that
it is in the best interests of the Corporation to grant Restricted Stock Units (as defined herein) under the Plan to the Participant
on the terms and conditions set forth below to induce, incentivize and reward the Participant.

 

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

 

1.            Award
of Restricted Stock Units. In consideration for the Participant’s acceptance of employment as the President and Chief
Executive Officer and the continued service of the Participant to the Corporation and its Subsidiaries and Affiliated Entities,
and as part of the Plan, effective on the effective date of Participant’s employment by the Corporation (the “Grant
Date”), the Corporation hereby awards to the Participant, subject to the further terms and conditions set forth in this
Agreement, restricted stock units (the “Restricted Stock Units” or “RSUs”), with a value
of $1,000,000 as of the Grant Date (the “Grant Date Value”). The number of RSUs granted shall be determined
by the fair market value of the common stock of the Corporation, par value $0.0001 per share (“Common Stock”), which
shall be the closing price of the Common Stock on the Nasdaq Capital Market on the Grant Date.

 

2.            No
Rights of Stockholder. Until converted as described in Section 6 hereof, the Restricted Stock Units represent the
Corporation’s unfunded and unsecured promise to issue shares of Common Stock at a future date, subject to the terms of this
Agreement. The Participant has no rights with respect to the Restricted Stock Units other than rights of a general creditor of
the Corporation. Except as set forth in Section 3 hereof, the Participant shall not have any of the rights of a stockholder
with respect to unvested Restricted Stock Units.

 

    

     

    

 

3.            Dividend
Equivalents. Subject to the provisions of Section 5 hereof, in the event that the Corporation declares a dividend
on its Common Stock, the Corporation will increase the number of Restricted Stock Units hereunder (i.e., by increasing the
award) by the number of units, rounded to the nearest whole number, equal to the result of dividing (a) the per share cash
dividend paid by the Corporation on its shares of Common Stock multiplied by the number of unvested Restricted Stock Units awarded
to Participant under this Agreement as of the related dividend payment record date by (b) the fair market value of one share
of Common Stock on the related dividend payment record date.   Any such additional Restricted Stock Units shall be subject
to the same vesting, forfeiture, payment, termination and other terms, conditions and restrictions as the original Restricted Stock
Units to which they relate. No additional Restricted Stock Units shall be granted with respect to any Restricted Stock Units which,
as of the dividend payment record date, have either vested or been terminated.

 

4.            Restrictions
on Transfer. Except as otherwise provided in this Agreement, the Participant may not sell, transfer, assign, pledge, encumber
or otherwise dispose of any of the Restricted Stock Units or the rights granted hereunder (any such disposition or encumbrance
being referred to herein as a “Transfer”). Until converted as described in Section 6 hereof, any
Transfer or purported Transfer by the Participant of any of the Restricted Stock Units shall be null and void and the Corporation
shall not recognize or give effect to such Transfer on its books and records or recognize the person to whom such purported Transfer
has been made as the legal or beneficial holder of such Restricted Stock Units. The Restricted Stock Units shall not be subject
to sale, execution, pledge, attachment, encumbrance or other process prior to vesting and no person shall be entitled to exercise
any rights of the Participant as the holder of such Restricted Stock Units by virtue of any attempted execution, attachment or
other process until the Restricted Stock Units are converted as provided in Section 6 hereof.

 

5.            Vesting
of Restricted Stock Units.

 

(a)            Subject
to any forfeiture provisions in this Agreement or in the Plan, and subject to the terms of this Section 5 hereof, continued
employment by the Corporation as the President and Chief Executive Officer and compliance with all of Participant’s obligations
under the Employment Agreement dated August 31, 2020 between the Participant and the Corporation (the “Employment
Agreement”), the Restricted Stock Units shall vest, in whole and not in part, on the fourth anniversary of the Grant
Date.

 

(b)            Notwithstanding
anything to the contrary in this Section 5, in the event of a Change in Control in which the resulting entity does
not assume, continue, convert or replace this Agreement, the Restricted Stock Units shall be fully vested and converted into an
equivalent number of shares of Common Stock immediately prior to the Change in Control, the Restricted Stock Units shall be fully
vested and converted into shares as described in Section 6 and Section 7 hereof. For purposes of this Agreement
(i) the Restricted Stock Units awarded hereunder will not be considered to be assumed, continued, converted or replaced by
the resulting entity in connection with the Change in Control unless the Restricted Stock Units are adjusted to prevent dilution
of the Participant’s rights hereunder as a result of the Change in Control and (ii) the term Change in Control shall
have the definition set forth in Participant’s Employment Agreement.

 

    2

     

    

 

6.            Conversion
of Restricted Stock Units into Common Stock upon Vesting. On the Conversion Date (as defined below), the Restricted Stock Units
that vested pursuant to the terms of Section 5 hereof, if any, shall be converted into the number of shares of Common
Stock equal to the Grant Date Value divided by the fair market value of a share of Common Stock, which shares of Common Stock will
be issued to the Participant, or in the event of the Participant’s death, the Participant’s beneficiary pursuant to
the Plan. Promptly after the Conversion Date (as defined below), certificates of such shares of Common Stock shall be delivered
to the Participant. Except as provided in Section 11(b), the “Conversion Date” shall be the applicable
vesting date. For purposes of this Section 6(a), the fair market value shall mean the closing price of a share of Common
Stock on a national securities exchange on which such shares of Common Stock may be listed for trading or as determined by the
Committee on a vesting date.

 

7.            Adjustment
Provisions. If, during the term of this Agreement, there shall be any merger, reorganization, consolidation, recapitalization,
stock dividend, special cash dividend, stock split, reverse stock split, rights offering or extraordinary distribution with respect
to the Common Stock, or other change in corporate structure affecting the Common Stock, the Committee shall make or cause to be
made an appropriate and equitable substitution, adjustment or treatment with respect to the Restricted Stock Units in a manner
consistent with Section 4.3 of the Plan, including a substitution or adjustment in the aggregate number or kind of shares
subject to this Agreement, notwithstanding that the Restricted Stock Units are subject to the restrictions on transfer imposed
by Section 4 above.  Any securities, awards or rights issued pursuant to this Section 7 shall
be subject to the same restrictions as the underlying Restricted Stock Units to which they relate.

 

8.            Tax
Withholding. As a condition precedent to the receipt of any Restricted Stock Units hereunder, the Participant agrees to pay
to the Corporation, at such times as the Corporation shall determine, such amounts as the Corporation shall deem necessary to satisfy
any withholding taxes due on income that the Participant recognizes pursuant to this Award. The obligations of the Corporation
under this Agreement and the Plan shall be conditional on such payment or arrangements, and the Corporation and its Subsidiaries
and Affiliated Entities shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise
due to the Participant. In addition, the Participant may elect, unless otherwise determined by the Committee, to satisfy the withholding
requirement by having the Corporation withhold shares of Common Stock with a Fair Market Value, as of the date of such withholding,
sufficient to satisfy the withholding obligation.

 

9.            Registration.
This grant is subject to the condition that if at any time the Board or Committee shall determine, in its discretion, that the
listing of the shares of Common Stock subject hereto on any securities exchange, or the registration or qualification of such shares
under any federal or state law, or the consent or approval of any regulatory body, shall be necessary or desirable as a condition
of, or in connection with, the grant, receipt or delivery of shares hereunder, such grant, receipt or delivery will not be effected
unless and until such listing, registration, qualification, consent or approval shall have been effected or obtained free of any
conditions not acceptable to the Board or Committee. The Corporation agrees to make every reasonable effort to effect or obtain
any such listing, registration, qualification, consent or approval.

 

    3

     

    

 

10.            No
Right to Continued Employment or Engagement. In no event shall the granting of the Restricted Stock Units or the other provisions
hereof or the acceptance of the Restricted Stock Units by the Participant confer upon the Participant any right to employment by
the Corporation, a Subsidiary of the Corporation or an Affiliated Entity for any period of time or to continue his present or any
other rate of compensation.

 

11.            Section 409A
Compliance.

 

(a)            The
intent of the parties is that payments and benefits under this Agreement be excluded from the scope of, or comply with, Internal
Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”)
and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted as such. To the extent that any provision
hereof is modified in order to comply with Code Section 409A, such modification shall be made in good faith and shall, to
the maximum extent reasonably possible, maintain the original intent and economic benefit to the Participant and the Corporation
of the applicable provision without violating the provisions of Code Section 409A.

 

(b)            [reserved]

 

(c)            For
purposes of Code Section 409A, the Participant’s right to receive any installment payments pursuant to this Agreement
shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies
a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the
sole discretion of the Corporation.

 

(d)            Notwithstanding
any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified
deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless otherwise permitted
by Code Section 409A.

 

12.            Miscellaneous.

 

(a)            Assignment;
Successors. This Agreement will be binding upon and inure to the benefit of the heirs and representatives of the Participant
and the assigns and successors of the Corporation, but neither this Agreement nor any rights hereunder will be assignable or otherwise
subject to hypothecation by the Participant (except by will or by operation of the laws of intestate succession) or by the Corporation,
except that the Corporation may assign this Agreement to any successor (whether by merger, purchase or otherwise) to all or substantially
all of the stock, assets or businesses of the Corporation.

 

(b)            Governing
Law and Forum for Disputes. The laws of the State of Colorado will govern the validity, interpretation, construction and performance
of this Agreement, without regard to the conflict of laws principles thereof. Any action or proceeding against the parties relating
in any way to this Agreement (a “Dispute”) must be brought and enforced in the courts of the State of Colorado,
and the parties irrevocably (i) submit to the jurisdiction of such courts in respect of any such action or proceeding and
(ii) waive any right to a trial by jury of any Dispute.

 

    4

     

    

 

(c)            Modification
or Amendment. No failure or delay by the Corporation or the Participant in enforcing or exercising any right or remedy hereunder
will operate as a waiver thereof. No provisions of this Agreement may be modified, waived, or discharged except by a written document
signed by an officer or director of the Corporation duly authorized by the Board and the Participant.

 

(d)            Notices.
Notices given pursuant to this Agreement will be in writing and will be deemed received when personally delivered, or on the date
of written confirmation of receipt by (i) overnight carrier, (ii) facsimile with confirmation of delivery or by email,
(iii) registered or certified mail, return receipt requested, addressee only, postage prepaid, or (iv) such other method
of delivery, including electronic transmission, that provides a written confirmation of delivery. Notice to the Corporation will
be directed to:

 

Hycroft Mining Holding Corporation

8181 E. Tufts, Suite 510

Denver, CO 80237

Attention: Compensation Committee Chair

 

with a copy to:

 

Neal, Gerber & Eisenberg, LLP

2 N. LaSalle Street, Suite 1700

Chicago, IL 60602

Attention: David S. Stone, Esq.

email: dstone@nge.com

 

The Corporation may change the person and/or address to whom
the Participant must give notice under this Section 12(d) by giving the Participant written notice of such change,
in accordance with the procedures described above. Notices to or with respect to the Participant will be directed to the Participant,
or to the Participant’s executors, personal representatives or distributees, if the Participant is deceased, at the Participant’s
home address on the records of the Corporation, or such other address provided to the Corporation in accordance with the procedures
described above.

 

(e)            Severability.
If any provisions of this Agreement will be found invalid or unenforceable by a court of competent jurisdiction, in whole or in
part, then it is the parties’ mutual desire that such court modify such provision(s) to the extent and in the manner
necessary to render the same valid and enforceable, and this Agreement will be construed and enforced to the maximum extent permitted
by law, as if such provision(s) had been originally incorporated herein as so modified or restricted, or as if such provision(s) had
not been originally incorporated herein, as the case may be.

 

(f)            Entire
Agreement. The Participant acknowledges receipt of this Agreement and agrees that with respect to the Restricted Stock Units
(Time-Vesting), together with the obligations of Participant under the Employment Agreement and the ENNNI Agreement, it contains
the entire understanding and agreement with the Corporation, superseding any previous oral or written communication, representation,
understanding or agreement with the Corporation or any representative thereof. No term or condition should be construed strictly
against any party on the basis that it was drafted by such party.

 

    5

     

    

 

(g)            Headings.
The headings in this Agreement are for convenience of reference only and will not limit or otherwise affect the meaning thereof.

 

(h)            Counterparts. 
This Agreement may be executed in any number of counterparts, including by facsimile or PDF, each of which shall be deemed an original,
and all of which shall constitute one and the same instrument.

 

[Signature page to follow]

 

    6

     

    

 

IN WITNESS WHEREOF, each of the parties
hereto has executed this Agreement as of the Grant Date.

 

	PARTICIPANT	 	HYCROFT MINING HOLDING CORPORATION
	 	 	 
	 	 	 
	/s/ Diane R. Garrett	 	By:	/s/
    David Kirsch
	Diane R. Garrett	 	Name:  David Kirsch
	 	 	Its: Chairman of Compensation Committee

 

    7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}]]