Document:

Filed by sedaredgar.com - Tao Minerals Ltd. - Exhibit 10.1

THIS CANCELLATION AGREEMENT is made this 4th day of October,
2008.

	 BETWEEN: 	
	 	TAO MINERALS, LTD., a
      Nevada corporation with a principal 
	 	executive office at Officina 624,
      Empresarial Mall Ventura, Cra.32#1B 
	 	Sur 51, Medellin, Columbia 
	 	 
	 	(hereinafter referred to as the
      "Company") 
	 	
	 AND: 	
	 	
	 	OUTBOARD INVESTMENTS,
      LTD., of BCM Cape Building 
	 	Leeward Highway Providenciales,
      Turks and Caicos, BWI 
	 	(hereinafter referred to as the
      "Investor") 

WHEREAS:

	A. 	
      The Investor and the Company entered into a Securities
      Purchase Agreement dated April 4, 2008 (the “Purchase Agreement”), wherein
      the Investor purchased from the Company a 10% convertible note in the
      aggregate principal amount of one million dollars ($1,000,000) (the
      “Note”);

	 	 
	B. 	
      The Company and the Investor wish to cancel the Note and
      the Purchase Agreement;

THEREFORE this agreement witnesses that in consideration
of the sum of $1.00 given by the Company to the Investor and other good and
valuable consideration given by each to the other, the receipt and sufficiency
of which is acknowledged by the respective parties, the parties hereto agree as
follows:

	1. 	
      The Purchase Agreement is hereby cancelled and of no
      further force and effect.

	 	 
	2. 	
      The Note is hereby cancelled and of no further force and
      effect, with the exception of the convertible note in the principal sum of
      $125,000 previously advanced dated April 4, 2008 (the “First Tranche
      Note”).

	 	 
	3. 	
      All obligations of the Investor and the Company under the
      Purchase Agreement and the Note are hereby terminated, with the exception
      of the First Tranche Note.

	 	 
	4. 	
      The parties agree to execute such further documents and
      assurances as may be required to effect the intent hereof.

	 	 
	5. 	
      This Agreement is personal in nature and shall enure to
      the benefit of and be binding upon the parties hereto and their respective
      executors, administrators, successors and permitted assigns.

	 	 
	6. 	
      Whenever the singular or masculine are used throughout
      this Agreement, the same shall be construed as being the plural or
      feminine or neuter where the context so requires, and vice
versa.

	 	 
	7. 	
      This Agreement shall be governed, construed and enforced
      according to the laws of the State of Nevada.

- 2 -

	8. 	
      The Investor and the Company may execute this Agreement
      in two or more counterparts and deliver same by facsimile, and any such
      counterparts and facsimiles shall be deemed to constitute one and the same
      instrument, to be an originally executed document, and to bear the date
      and be effective as of the date first above
written.

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

	TAO MINERALS, LTD. 
	 	 
	 	 
	Per:	                                                                        
      
	 	Authorized Signatory 
	 	 
	 	 
	 	                                                                        
      
	 	OUTBOARD INVESTMENTS, LTD. 
	Per: 	
	 	Authorized Signatorygoldens8100808ex10-27.htm

    
      

      

    

    Exhibit 10.27

    
 

    GOLDEN
PHOENIX MINERALS, INC.

    2008
EXECUTIVE STOCK COMPENSATION PLAN

    

    

    1.  Purpose.
The purpose of this 2008 Executive Stock Compensation Plan (hereinafter referred
to as the Plan) is to provide compensation in the form of Common Stock (“Common
Stock”) of Golden Phoenix Minerals, Inc. (the “Corporation”) to eligible
executives (“Executives”) that have previously rendered services to the
Corporation or that will render services to the Corporation.

    

    2.  Administration.  This
Plan shall be administered by the Compensation Committee of the Board of
Directors of the Corporation (the “Compensation Committee”) who may from time to
time issue orders or adopt resolutions, not inconstant with the provisions of
this Plan, to interpret the provisions and supervise the administration of this
Plan.  The Compensation Committee is authorized to determine which
Executives will receive shares under this Plan and is authorized to negotiate
with Executives for the payment of shares, at a mutually agreed upon value, for
previously rendered services to the Corporation or services that will be
rendered to the Corporation.  All final determinations shall be by the
affirmative vote of a majority of the members of the Compensation Committee, or
reduced to writing and signed by a majority of the members of the Compensation
Committee. Subject to the Corporation's Bylaws, all decisions made by the
Compensation Committee in selecting eligible Executives, establishing the number
of shares, and construing the provisions of this Plan shall be final, conclusive
and binding on all persons including the Corporation, shareholders and
Executives.

    

    3.  Shares
Subject to the Plan.  The total number of shares of Common Stock
subject to this Plan are 3,890,000 shares.

    

    4.  Investment
Intent.  Unless and until the sale and issuance of Common Stock
subject to the Plan is registered under the Securities Act of 1933, as amended
(the “Securities Act”) or shall be exempt pursuant to the rules promulgated
thereunder, each grant under the Plan shall provide that the acquisitions of
Common Stock thereunder shall be for investment purposes and not with a view to,
or for resale in connection with, any distribution thereof. Further, unless the
issuance and sale of the Common Stock has been registered under the Securities
Act, each grant shall provide that no shares shall be sold unless and until (i)
all then applicable requirements of state and federal laws and regulatory
agencies shall have been fully complied with to the satisfaction of the
Corporation and its counsel, and (ii) if requested to do so by the Corporation,
the person who is to receive a grant of Common Stock pursuant to the Plan shall
execute and deliver to the Corporation a letter of investment intent and/or such
other form related to applicable exemptions from registration, all in such form
and substance as the Corporation may require.

     

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    5.  Stock Splits, Stock Dividends combinations or
reclassifications.  In the event of any change in the outstanding
stock of the Corporation by reason of a stock split, stock dividend, combination
or reclassification of shares, recapitalization, merger, or similar event
(“Adjusting Event”), the Board of Directors or the Committee may adjust
proportionally (a) the number of shares of Common Stock reserved under the Plan,
which have not been granted as of the date of such Adjusting Event.

    

    6.
Withholding. The Corporation shall have the right to deduct from any grant of
Common Stock an appropriate number of shares for payment of taxes required by
law or to take such other action as may be necessary in the opinion of the
Corporation to satisfy all obligations for withholding of such
taxes.

    

    7.  Governing
Law. The Plan and all determinations made and actions taken pursuant hereto, to
the extent not otherwise governed by the securities laws of the United States,
shall be governed by the law of the State of Nevada and construed
accordingly.

    

    8.  Termination
of the Plan.  This Plan shall terminate upon the issuance of all
shares available under the Plan or when it is otherwise terminated by the Board
of Directors.

    

    9.  Effective
Date of the Plan.  This Plan shall become effective upon its adoption
by the Board of Directors.Exhibit
10.1

 

SETTLEMENT
AGREEMENT

 

Lake
Ozark Construction Industries, Inc. (“LOCI”), Everett Holding Company, Inc.
(“Everett”), and Golf Trust of America, L.P. (“Golf Trust”) enter into this
Settlement Agreement (“Agreement”) as of September 5, 2008.  In addition to the issues addressed in this
Agreement, Golf Trust, LOCI, and Everett warrant that they are not aware of any
current claims they or others may have against each other, and each of them
agrees to release the other from any claims whether known or unknown at this
time.

 

1.                                       Golf Trust, in consideration of LOCI’s and
Everett’s agreements set forth in paragraph 2 below, agrees as follows:

 

(a)                                  Golf Trust shall pay or cause to be paid to
LOCI and Everett $140,000.00.

(b)                                 Golf Trust shall, not later than ten days
after receipt of written proof of both the dismissal referred to in
subparagraph 2(a) below and the acknowledgment referred to in subparagraph
2(b) below, dismiss with prejudice Golf Trust’s Cross-Claim in the case
pending in Circuit Court of Miller County, Missouri, styled and numbered Lake
Ozark Construction Industries, Inc. and Everett Holding Company, Inc.
v. Osage Land Company, L.L.C., et al, Case No. CV599-366CC (“Case No. CV599-366CC”),
each party to bear its own costs and attorney fees.

 

2.                                       LOCI and Everett, in consideration of Golf
Trust’s agreements set forth in paragraph 1 above, agree as follows:

 

(a)                                  LOCI and Everett shall, not later than ten
days after receipt of the payment provided for in subparagraph 1(a) above,
dismiss with prejudice all counts of LOCI’s and Everett’s Third Amended
Petition in Case No. CV599-366CC, each party to bear its own costs and
attorney fees.

 

(b)                                 LOCI and Everett shall, not later than ten
days after receipt of the payment provided for in subparagraph 1(a) above,
file with the Clerk of the Circuit Court of Miller County, Missouri, and
acknowledgment of complete satisfaction, in accordance with RSMo 429.120, of
the mechanic’s lien in the principal amount of $1,276,122.58 that LOCI and
Everett filed on May 27, 1999, with the Clerk of the Circuit Court of
Miller County.

 

 

3.                                       LOCI, Everett, and Golf Trust agree that no
promise or agreement not expressed in this Agreement has been made, that this
Agreement is not executed in reliance upon any statement or representation made
by LOCI, Everett, or Golf Trust or any representative or agent of any of them
concerning any thing or matter, and that the terms of this Agreement are
contractual and not mere recitals and are binding upon LOCI, Everett, and Golf
Trust and their successors and assigns.

 

4.                                       This Agreement may be executed in any one or
more counterparts, each of which shall be deemed an original and all of which
together shall constitute one and the same document.

 

 

	
   

  	
   

  	
  Lake Ozark Construction Company, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
    /s/ Eldon Eikenbary

  
	
   

  	
   

  	
  By:

  	
   

  	
  Eldon
  Eikenbary

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Assistant
  Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Everett Holding Company, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Eldon Eikenbary

  
	
   

  	
   

  	
  By:

  	
   

  	
  Eldon
  Eikenbary

  
	
   

  	
   

  	
  Title:

  	
   

  	
  Assistant
  Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Golf Trust of America, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Michael C. Pearce

  
	
   

  	
   

  	
  By:

  	
   

  	
  Michael
  C. Pearce

  
	
   

  	
   

  	
  Title:

  	
   

  	
  President
  and Chief Executive Officer

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